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The daycare schools have long been in the society. The schools are aimed at providing training and supervision for small children in the preschool age and also for the old and the disabled. (Daycare, n.d.). The concept of the child care centers were conceptualized in a big way in Australia when the ABC Learning centers were established in 1988. It soon became the largest of the child care centers in Australia. It operated in the form of a company and the corporate management at its helm accelerated its growth in a short span of time. The growth accelerated in the latter half of the 1990s. In 1997, the ABC centers were only 18 in number in the whole of Australia. The number rose to 800 centers all over Australia which was 20% of all the child care centers of the country. The growth of the company reflected in the market price of the shares. The share price went up to 300% in the space of 5 years from 2001-the year in which the shares were traded in the Australian Stock Exchange. In the financial year of 2004-05, the company had profits of $50 millions.(Rush & Downie, June, 2006). However, from the highs of financial gain, the company’s fortune fluctuated and it faced trouble. There were many reasons for the fall of which many were related to the macroeconomic factors of the country. Some of the reasons were because of the mismanagement of the company. The paper will reflect on the issues that brought about the downfall of the company from such a tremendous track record. For this purpose, the paper will discuss the background to the rise of the ABC centers and divulge on the possible reasons for its dipping fortunes.
Background to ABC Learning Centers
The daycare programs in Australia have been a significant service provider in the case of the children below the age of five. Some of the centers are operated in the semi-Government mould or in the community based programs. In the latter half of the 1900s, the corporate sector took stock of the opportunity of the
Background to ABC Learning Centers
The daycare programs in Australia have been a significant service provider in the case of the children below the age of five. Some of the centers are operated in the semi-Government mould or in the community based programs. In the latter half of the 1900s, the corporate sector took stock of the opportunity of the
References: 1. ABC Learning Centers. (n.d.). Parliament of Australia. Available at:http://www.aph.gov.au/senate/committee/eet_ctte/child_care/report/c02.htm#anc2 (Accessed on 27th September, 2010) 2 3. Child care benefit. (n.d.). Centrelink. Australian Goverenment. Available at:http://www.centrelink.gov.au/internet/internet.nsf/payments/childcare_benefit.htm (Accessed on 27th September, 2010) 4 9. Schwab,A. (2010). Pigs at the Trough. John Wiley & Sons Australia Ltd.