Evidence-based policy is the utilization of available scientific research methods in all law enforcement guidelines. Evidence-based policy is used as a guideline for policy practice as well as for evaluation of their performance. The most important aim of the policy is the evaluation of police operations. It is basically research on what works best and at the same time, an evaluation of policy implementation. The policy is important in determining whether what is being done is really working or not. It is therefore not restricted to criminology but rather can be used in the evaluation of operations in other fields such as distribution of resources by the government and allocation of employment opportunities. Business operations can as well be evaluated using research methods. One obvious but very fundamental advantage of evidence-based policy is its formation to help in reducing crime in society. It can therefore be said to improve and promote society’s safety. The policy’s disadvantage however falls on the police and other implementers because they lack the right to give their opinions on the matter at hand since the policy bases everything on research. Affected parties may feel like they are being looked down upon because their opinions are not involved. The process of evidence-based policy is costly and time-consuming. The evidence-based policy was used in 1997 by the National Centre for Community Policing in research referred to as The Flint Experiment which was aimed at reducing the crime rate and restoration of the society’s insight on safety. The evidence-based policy has also been used in Employment Retention and Advancement where effective methods were used in retaining and advancing low-income earners (Sims, 2002, p. 1).
One method of forming a forecast would be determining the regular sales capacity for all nearby bookstores especially those which are similar in size to the one am projecting. Another method is determining the number of nearby institutions needing the books and how much they usually spend on them per year as well as the percentage of their spending that goes to the store in comparison to other bookstores (Elliot, 2011, p. 1).
When buying a business, negotiations on the terms and conditions of the deal must be made. Certainty on payment should be discussed whether it will be cash or equivalents such as shares. The buyer may need support from the seller for training purposes or familiarity with clients. Restrictions on the seller should also be dealt with to avoid compromising the clients’ relationship. Certainty of payment is very crucial to ensure easy cash accessibility by the seller. Changes to these terms can negatively affect the cash flow of the business, especially where the seller was meant to stay for training or for clients’ familiarization. The buyer may lose customers and would take some time to get customers of his own. This would decrease sales and consequently, the cash flow would reduce.
The success of a business is always unpredictable but a business plan helps one prepare for both failure and success. Even for sole proprietors, it is always a good move to plan their business despite the fact that they do not need assistance from corporations. A business plan helps an entrepreneur assess his capital and the costs of running the business. Business goals can also be defined through a business plan. A business plan is the core factor to the smooth running of any business. Due to the set goals, the entrepreneur will be able to effectively execute his duties in order to achieve his goal.
The Five Cs of Credit is a method used by lenders and investors to determine whether potential borrowers are creditworthy. They are Character that looks for the individual’s state in the public. Capacity checks the ability of the borrower to repay the loan by comparing his earnings to his debts. Capital that the borrower is investing in is considered. Collateral, including assets, for security purposes, is also considered. Conditions of the loan, such as interest rate must be considered as well.
Reference List
Elliot, T. (2011). Three Methods Of Sales Forecasting. Web.
Sims, R. (2002). The pros and cons of evidence-based policing. Web.