Operations - 678 Words

So the current issue of Businessweek has an article on Apple that I am basically (given my profession) obliged to love (Apple’s Supply-Chain Secret? Hoard Laser, Nov 3). It opens by recounting how Apple invested heavily in a special kind of laser in order to implement a design element (a little green light on a laptop so that users would know that the camera is on) and builds to this: Most of Apple’s customers have probably never given that green light a second thought, but its creation speaks to a massive competitive advantage for Apple: Operations. This is the world of manufacturing, procurement, and logistics in which the new chief executive officer, Tim Cook, excelled, earning him the trust of Steve Jobs. According to more than a†¦show more content†¦Similarly, when iPod sales took off in 2001, Apple realized it could pack so many of the diminutive music players on planes that it became economical to ship them directly from Chinese factories to consumers’ doors. When an HP staffer bought one and received it a few days later, tracking its progress around the world through Apple’s website, â€Å"It was an ‘Oh s—’ moment,† recalls Fawkes. In thinking about ops at Apple, it becomes clear that Apple is very much like past poster children of operational excellence like Wal-Mart, Toyota, and Southwest. It is not that Apple’s operational skills are great in an absolute sense. Rather it is that their operations are so intertwined with everything else that they are doing, they are essential to carrying out their strategy in the marketplace. For example, Apple has a limit product line. They don’t settle for producing a few hip halo products that attract attention but were never intended to sell in high quantity. Virtually everything Apple does aims to be both hip and high volume. That means when they work with suppliers they are in a position to demand that things go their way. Further, they aim to give the customer things she doesn’t know she needs yet. That means they are making big bets on production technologies or components before the competition knows they need that skill or that component. All of that would be horribly risky if they were not so good atShow MoreRelatedOperations Management : Operation Management1355 Words   |  6 PagesOperations Management Introduction Operations management is the activity of managing the resources that create and deliver services and products. The operations function is the part of the organization that is responsible for this activity. Every organization has an operations function because every organization creates some type of services and/or products. However, not all types of organization will necessarily call the operations function by this name. Operations managers are the people who haveRead MoreOperation Management And Operations Management2148 Words   |  9 PagesOperation management Introduction Being an operations manager is not an easy task, it involves good control and responsibilities for the major activities within the organisations in order to achieve goals that might be in form of services or in form of goods. The operation management roles may be different from business to business depending on the size and resources available, each organisation has its own operations functions, and in order to produces goods or services they have to convert theRead MoreOperations Management : Operation Management Essay2171 Words   |  9 PagesOperation Management Operations administration concentrates on precisely dealing with the procedures to create and circulate items and administrations. Operations administration is the procedure, which joins and changes different assets utilized as a part of the creation/operations subsystem of the association into quality included item/benefits in a controlled way according to the arrangements of the association. In this way, it is that part of an association, which is worried with the changeRead MoreOperation Management2751 Words   |  12 PagesTABLE OF CONTENTS 1. OPERATION MANAGEMENT 3 1.1. DEFINITION OF OPERATION MANAGEMENT 3 1.2. THE ROLE OF OPERATION MANAGER 3 1.3. RELATIONSHIP OF OPERATION MANAGEMENT WITH OTHER CORE FUNCTIONS 3 2. CASE STUDIES 3 2.1. HEATHROW INTERNATIONAL AIRPORT 3 2.2. NESTLÉ UK CHOCOLATE FACTORY 3 3. MAJOR UNDERSTANDINGS OF THE STUDY 3 4. CONCLUSIONS 3 REFERENCES 3 1. Operation Management For the success of an organization, the management crew plays a major role. An organizational structure is based on differentRead MoreOperations Management986 Words   |  4 PagesOPERATIONS MANAGEMENT Select two organisations that you are familiar with – one with a service output and one with a product output, and compare and contrast these organisations with respect to the following aspects: 1.1 The process of transformation of inputs to outputs 1.2 Process and Capacity design 1.3 Supply Chain management 1.4 Scheduling Operations Management refers to the management of the production system that transforms inputs into finished goods and services, (http://csuponomaRead MoreOperations Managment14673 Words   |  59 PagesKey operations questions Chapter 1 Operations management âž ¤ What is operations management? âž ¤ Why is operations management important in all types of organization? âž ¤ What is the input–transformation– output process? âž ¤ What is the process hierarchy? âž ¤ How do operations processes have different characteristics? âž ¤ What are the activities of operations management? Chapter 2 Operations performance âž ¤ Why is operations performance important in any organization? âž ¤ How does the operations function incorporateRead MoreOperation Management2436 Words   |  10 PagesOPERATION MANAGEMENT IS IMPORTANT TO ALL BUSINESS To be able produce specialized managers capable of fulfilling strategic tasks within business and government enterprises the need for the practice of operations management cannot be forgone. Operations management is very significant in business operations since it forms the heart of the organisation by controlling the system of operation. Operations management deals with the design, operation, and enhancement of the systems that generate and deliverRead MoreOperations Management1791 Words   |  8 PagesQUESTION 1 Operations management must be managed properly in order to improve an organization’s productivity and profitability. In the Cadbury World case, several micro and macro processes are involved and those processes bring some impacts to Cadbury World. Thus, Cadbury World must possess a sustainable micro and macro processes to achieve the best outcome and performance. Micro processes that involved are easily to manage compared to macro processes because macro processes are hard to manageRead MoreOperation Management3402 Words   |  14 PagesCoursework of Operations Management Comparison and contrast of operation problems among Executive Holloware ltd., Oilpartz ltd. and London zoo Summary In this article, three operations management related cases are studied and analysed. The writer compares and contrasts similarities and differences in these cases in the following aspects: the transformation process model, types of operations, the objectives of operations. By looking into more detailed problems in each case, those more complex itemsRead MoreOperation Management769 Words   |  4 Pagesand whether it is relevant to continue certain operations * Better management of the outsourced activity – In theory, you can choose a supplier that is a leader in the field * Market discipline – You can align your costs with those of suppliers in the field * Technology – In theory, you gain access to state-of-the-art technologies * Flexibility – The resources no longer used in one area can be redirected to the companys core operations Here are some disadvantages of producing new

The Importance of Group Work in Education Essay - 2446 Words

The Importance of Group Work in Education When I was in high school, and one of my teachers would ask us to form groups in order to do something, I would usually roll my eyes. Ironically enough, some of the best work that I put forth and learned from was done in a group work setting. By working with my peers towards a common end, I got things done much quicker and thorough than I ever did on my own. I chose to research group work for this essay, because in my limited experience as a teacher, youth worker, and student, group work proves to be a most effective teaching method; when it is done successfully. To begin, I came up with four questions to ask myself in researching this project: Why is implementing group work such a†¦show more content†¦But for students to become authors and creators and speakers in the classroom suggests new roles for them and for other teachersà ® (Kutz 53). Students need to talk. Research shows that à ¬teacher talkà ® takes up 70-90% of class time. John S. Mayher figured out the statistics even if every students was able to talk in class; within a 45 minute period, if each member of a 30 pupil class talked for one and a half minutes a period, that would be seven and a half minutes a week. That hardly seems enough time to fairly contribute oneà ­s own ideas to a class (Mayher 129). By developing their oral language abilities in the classroom, students will develop a à ¬potential for overall knowledge and application of and in learning in all areasà ® (Mayher 248). The most effective way of developing oral language abilities, and getting enough time to put them in to practice is by the use of group work. à ¬Coming to know is an active process in which the learner must be engaged in acts of discovery and inquiry, and, as Vygotsky has shown, this process always takes place within a particular social/cultural context, with language internalized from and shaped by that context. Most real world learning takes place in interaction with others, but most classrooms isolate learners from that kind of interaction. The group in the classroom mirrors the way most people learn outside the classroomà ® (Kutz 258). As KutzShow MoreRelatedCompare And Contrast Japanese And Japanese Education1159 Words   |  5 PagesMany countries in the world view education as the key to success in life, but each country’s educational system is different in many regards. In the American educational system, students attend school to learn the skills necessary to function in society. In the Japanese educational system, students learn and memorize various subjects to take school examinations in the hopes of winning the education race. The American and Japanese educational systems may seem similar but are different in the areasRead MoreDescription Of Women Entrepreneurs And Analysis Essay872 Words   |  4 Pagesabout the importance of incubation centres in order to start or grow their enterprises are analyzed. Figure 5.1: Age profile Age Majority of the women entrepreneurs belong to Middle age category (age category 31 to 40 years). Middle age group actually dominates women entrepreneurship in the slum because most of these women have school going children. It gives them free time to initiate a business. Followed by the age group of 40-50 years. Figure 5.2: Education profile Education ThisRead MoreAnalysis Of The Book Confucius Lives Next Door 1467 Words   |  6 PagesThe book is separated into eight chapters; The Other Miracle, Eastern Flavor, Pine Tree by the Rice Paddy, The Master King, Yodobashi No.6, Continuing Education, The secret Weapon, Too Much Freedom each telling a certain part of the story as it happens each chapter depicting a different concept. The topics of this book vary from food to education each stating their differences from America. While this book is written in 1990 I believe their traditions and values still hold true to this day. ThroughoutRead MoreReasons For Trust Or Distrust Universities1647 Words   |  7 PagesProvide Effective Ethical Education All the college students are expected to know the principles of ethics and morals without a lecture. Students should not expect someone to teach them the ethics and morals at college, even though there are people who could help them. David A. Hoekema is the chair of the philosophy department and a philosophy professor at Calvin college. He is the author of â€Å"The unacknowledged Ethicists on Campuses,† an article that focuses on three groups that can help studentsRead MoreEssay on My Teaching Philosophy594 Words   |  3 Pagesteacher, but because I want to make a difference in children’s lives. I want to become a Physical Education teacher, to teach children the importance of being physically fit and physically active. In edition to teaching the importance of being and staying healthy, I want to give the younger generation the opportunity to play sports. Through playing sports a child may feel a since of purpose or importance. This may deter a life of crime or a drug-abuse. 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The future of our nation depends on providing our children with a complete education that includes music.† Music can do so much for the youth of the nation because it encourages group cooperation, independent study, and a way to relax. It has often been debated whether the benefits of music in school are significantRead MoreCo-Curricular Activities1632 Words   |  7 Pagesreceived a more rounded education. Co-curricular activities are particularly good at providing opportunities for students to work in teams, to exercise leadership, and to take the initiative themselves. These experiences make students more attractive to universities and to potential employers. The academic curriculum is really much more important and must continue to be given more status in schools and colleges than the co-curriculum. Students are meant to be receiving an education and gaining recognisedRead MoreEssay on Contemporary American Class Structure1328 Words   |  6 Pagesis defined as people having the same social or economic status (Wordnet). In contemporary American society, social class is based on the amount of money and property you have and also prestige. Prestige is given to a person through the line of work or the family that they come from. For example, upper-upper class member Jenn ifer Lopez reeks of prestige not only because she has millions of dollars in her bank account, but she has very expensive luxuries, cars, and houses. There are four categoriesRead More Comparison of the North American and Japanese Educational Systems1744 Words   |  7 PagesAsian cultures, places importance on the group and the interdependence of its members (Cole Cole, 2001, p. 541). The North American model, in contrast, focuses on the ideals of individuality and independence (Cole Cole, 2001, p.541). This contrast is due to a conflicting cultural/social structure and outlook of the world. Japanese look at the development of self as doubled sided: the inner self and the social or public self (Hoffman, 2000, p.307). Within the Japanese education system, the teachers

Amazon.Com Supply Chain Management Free Essays

Running head: Amazon. com Supply Chain Project Amazon. com Supply Chain Project Jarrel Nightingale JNightingale2@CapellaUniversity. We will write a custom essay sample on Amazon.Com Supply Chain Management or any similar topic only for you Order Now edu Capella University BUS3004: Supply Chain Management Professor Dr. Robert Goldwasser December 10, 2012 Amazon. com Supply Chain Project Introduction In today’s society, Online Shopping and the industry of e-commerce has become very popular and mainstream. Many individuals have integrated online shopping into their normal routine and have replaced traditional shopping altogether. Online shopping has become so popular, there has been a shopping holiday called â€Å"Cyber Monday† which is the equivalent to â€Å"Black Friday. † Traditional brick and mortar retail stores are now forced to offer their products online in order to remain competitive. This is a new position for most businesses to be in, so businesses are forced to make the necessary adjustments to conform to the consumers’ demands. Complying with the demands of technology has become a problem for some of the smaller businesses due to the lack of resources and infrastructure to produce these changes. Amongst the many online retailers that have emerged, Amazon. com has set itself apart as the industry leader in Online E-commerce. Since 1994, Amazon. com has built a successful empire that has become the default name for when one thinks about buying anything online. Through their documented success, Amazon. com has created the blueprint for those to follow in order to become a successful Online Retailer. In this assignment, I will discuss Amazon. com as it relates to their success and the structure of its company. Business Model Amazon. com sells books, music, and other items over the Internet and is one of the pioneers of consumer e-business. Amazon, based in Seattle, started by filling all orders using books purchased from a distributor in response to customer orders. This practice differs from that of a traditional bookstore, which usually purchases directly from publishers and stocks books in anticipation of customer orders. In 2008, Amazon had eight warehouses in the U. S. and another fifteen in the rest of the world. Amazon stocks many books, though it still gets other titles from distributors or publishers. It uses the U. S. Postal Service and other package carriers such as UPS and FedEx to send books to customers. Amazon has continued to expand the set of products that it sells online. Besides books and music, Amazon has added many product categories such as toys, apparel, electronics, jewelry, and shoes. (Chopra, et. Al, 2012) In addition to adding more products, the strategy of Amazon. com is technology based as it relates to consumer demand. Amazon’s supply chain is so tightly integrated that when an online customer buys a couple of books and a CD, the order-management system communicates with inventory- and warehouse-management systems to find the optimal distribution center or centers for fulfilling the order. The customer knows in less than a minute how long it will take to ship the items and whether they will come in one package or separately (Bacheldor, 2004). Global Challenges Unlike most companies, Amazon. com has positioned itself to remain competitive in the national and global markets as well. Shipping is one of the most main expenses of e-commerce and shipping internationally can be a lengthy and expensive process. As mentioned earlier, Amazon. com has built new warehouses and changed the markets supplied by each warehouse as its customer base has grown. Currently there are 15 warehouses in total; 8 of those are located in the United States and the other 7 are located internationally. As a result, it has lowered shipping costs and improved responsiveness (Chopra, et. Al, 2012). There is a trade off because inventory and facility costs increase as the number of facilities in the supply chain increase; and transportation costs decrease as the number of facilities increase. The functionality of its technology is also designed to help with reducing costs so that transportation costs stay at a point where operating globally is still achievable. Amazon. com’s supply chain management applications communicate in real time when an order is placed and assigns shipping warehousing and cost based on location (Bacheldor, 2004). When the average company ships internationally the response time is typically in excess of 14 days and the cost to expedite takes any potential savings from purchasing online go away. Importance of Aggregate Planning Amazon. com is beginning to aggregate other e-commerce that are linked via strategic placement and investments. The vision is to make it so customers don’t have to go elsewhere to shop very often especially online (Scally, 2000). The reputation it has is so strong that any association with Amazon. com helps create an impression of validity and success for anyone that chooses to partner with them. Amazon has one of the most-sophisticated supply-chain systems in the world, and it was all built from scratch. Homemade applications handle nearly every aspect of its supply chain: warehouse management, transportation management, inbound and outbound shipping, demand forecasts, inventory planning, and more. In the last four years, Amazon has worked to minimize the need for human intervention in its supply-chain processes, such as manually inputting sales forecasts into an inventory-management system (Bacheldor, 2004). Today, Amazon’s supply-chain apps communicate in real time, a rarity when most companies have to integrate a variety of software tools and manual processes, such as phone and fax orders. Ultimately, the goal is to try to â€Å"touch† every type of transaction on the web dealing with e-commerce and to integrate with business partners to enhance the online shopping experience (Scally, 2000). Many traditional brick and mortar stores are affiliating themselves with Amazon in order to gain online presence and sell its merchandise online. This is a mutual benefit as it allows Amazon to continue to diversify its products. Role of Demand Forecasting and Pricing Promotions To achieve strategic fit, a firm must tailor its supply chain to best meet the needs of different customer segments. To retain strategic fit, supply chain strategy must be adjusted over the life cycle of a product and as the competitive landscape changes. Future risks, uncertainties, and environmental concerns must be accounted for when firms design their supply chain strategy. Customers ordering a book at Amazon. com are willing to wait longer than those who drive to a nearby Borders store to get the same book. In contrast, customers can find a much larger variety of books at Amazon compared to the Borders store. Thus, Amazon customers trade off fast response times for high levels of variety (Chopra, et. Al, 2012). Amazon offers its customers a large menu of prices for products that are purchased from the company. For example, a person purchasing two books worth $30 could use standard shipping (ships in 3–5 business days) at a cost of $4. 98, two-day shipping (ships in 2 business days) at a cost of $13. 97, one-day shipping (ships in 1 business day) at a cost of $22. 97 or use free shipping (ships in 7–14 business days). The pricing menu allows Amazon to attract customers with varying levels of desired responsiveness (Chopra, et. Al, 2012). Whereas customers paying for one-day shipping impose a high degree of uncertainty on Amazon, customers opting for free shipping can be used to level out the workload at the warehouse over time. Amazon can thus use its pricing to provide responsiveness to those who value it while using customers who want a low price to help it improve its efficiency. Amazon also uses pricing effectively to shift some of the Christmas peak to November, by offering free or discounted shipping. The discount moves some of the December demand forward, allowing it to reduce its December peak and improve its efficiency without giving up on responsiveness for those customers who do not want to order earlier. Conclusion Since 1994, Amazon. com has built a successful empire that has become the default name for when one thinks about buying anything online. Through their documented success, Amazon. com has created the blueprint for those to follow in order to become a successful Online Retailer. By offering a vast variety of products, Amazon has changed the way many consumers shop for our merchandise. In addition to more options, the prices are often times cheaper even though the merchandise ordered is always shipped from a different location. What Amazon started in 1994 has now been revolutionized as Amazon continues to find ways to better the merchandise, the technology involved, and most important the customer experience. References Anonymous. 1998. IceGroup Releases Amazon. com Analysis . PR Newswire, Retrieved from www. lexisnexis. com/hottopics/lnacademic Bacheldor, B. (2004). FROM SCRATCH: Amazon keeps supply chain close to home. InformationWeek, (979), 40-40. Retrieved from http://search. proquest. com/docview/229180916? accountid=27965 Chopra, Sunil, Meindl, Peter. (05/2012). Supply Chain Management, 4/e for Capella University, 4th Edition. Pearson Learning Solutions. Scally, R. (2000). Amazon. com: The force that’s altering e-tail, one category at a time. DSN Retailing Today, 39(9), 42-44+. Retrieved from http://search. proquest. com/docview/228466615? accountid=27965 Willis, C. (1998, Apr 06). Does amazon. com really matter? Forbes, , 55-58. Retrieved from http://search. proquest. com/docview/195047045? accountid=27965 How to cite Amazon.Com Supply Chain Management, Papers

Programme Developer Company Communicating †Myassignmenthelp.Com

Questions: What's Going On? What Are The Facts? What Are The Issues(Non-Ethical)? Who Is Affected? What Are The Ethical Issues And Their Implications? What Can BeDone About It? What Are The Options? Which Option Is The Best And Why? Answers: 1.The scenario in the video shows a programme developer of a company communicating over phone to someone when the project manager enters the scene. The developer Pete ends the conversation and informs the project manager Greg that the call was from the client Willis who called to order certain changes that is required to be made in the software that is being developed by them. The developer listened to the modification order of the client and agreed to make the necessary changes ("Scenario 2: Development Methodology", 2017). 2.The facts that are involved in this scenario are as follows. First, the client Willis wishes to make a few technical changes to the project that is being developed by the company where Pete works as a programme developer. Secondly, the programme developer communicates directly with the client without involving the project manager and takes the decision to convey his decision to the client directly without consulting his manager. The last fact is dependent on the reaction of the project manager Greg when he gets to know that the Accounting developer Pete has conversed directly with the client and taken decisions without taking his suggestion (Guffey Loewy, 2012). 3.The decision taken by the programme developer Pete to communicate directly with the client without informing or involving the project manager is non-ethical. This is because, in an organisation, business communication follows certain hierarchical model. The task of a project manager is to maintain a communication with the client as well as the developers involved in the concerned project (DesJardins McCall, 2014). The manager receives task updates of the project from the developers and informs the client on the progress of the project. Similarly, he receives new orders and change requests from the client and informs the developers of the project about it. The manager is responsible to perform as a bridge of communication between the client and the vendor and mitigate the need of both. In this scenario, the action of the programme developer has violated this communication model, which may create certain issues both for him as well as for the company for whom he is working (Terec-Vl ad, Trifu Terec-Vlad, 2015). 4.The action of the programme developer Pete will affect him the most but will also have considerable effect on the project manager as well as their company. Needless to say, such actions may have some effect on the client as well in terms of delivery of the project. The developer will be affected if the project manager feels insulted for not being involved in between the conversation that took place in between the client and the developer. The project manager will be affected if he takes any action against the developer for his doing as that can put stress on the developer, which in turn will affect project quality and delivery (Trevino Nelson). The project manager will also be affected if he encourages the action of the developer and if anything in the project goes wrong, as he will be answerable to his senior for his decision. The company will be affected as any issues that may arise in completion of the project may lead to termination of contract with the client and loss of repu tation of the company, which can seriously hamper the business of the company. Any issues that may arise due to the violation of business communication protocol in the company can affect the quality of the project, which can affect the clients expectation of the project (Kaynak Sert, 2012). 5.The programme developer communicates directly with the client and listens to the change requests that are wished by the client. He then considers the requests and informs the client that the changes will be made as per the request of the client. In such situations, the developer needs to inform the project manager about the demands of the client and consult with him about the next plan of action that is necessary to be taken. The manager would then conduct a meeting with the client and create a new requirement analysis agenda that would contain the new change logs placed by the client as well as the necessary resource and time requirements that may be required for the implementation of the desired changes (Martin Chaney, 2012). Not doing so, the program developer Pete has created certain issues. In such situation, if anything goes wrong in the project, it becomes the principle responsibility of the developer to make things right as the manager would then refuse to take any respons ibility since he was not involved from the first. This will hamper the quality and the delivery of the project and can raise ethical issues like deficiency of fund and resources required for the completion of the project due to inadequate planning of the project (Martin Chaney, 2012). 6.The right thing to do in such situations is for the programme developer Pete to receive the call of the client but to redirect the call to the project manager Greg. In case the manager is not present in the scenario, the developer should inform the client about it and inform the same that he will be contacted shortly by the manager. The manager would later contact the client, listen to his demands, and set a meeting accordingly, where the manager will negotiate new terms of the project contract with the client. In this way, a perfect business communication protocol will be followed and the demands of the client will be successfully met. This will lead to successful completion of the project meeting all the needs of the client without raising any ethical or non-ethical issue for the vendor company (Jensen, 2013). 7.In this scenario, three options are available. First, the project manager Greg can modestly request the programme developer to forward any call related to the client in future. He can then listen to the demands of the client and see how it affects the contract of the project. The project manager may then stop the development of the project, set up a meeting with the client regarding the changes that the client demands and the necessary changes that is required to be made in the terms of the contracts for implementation of the new change requests. In this way, the contract is updated without raising any ethical or non-ethical issues ("Scenario II 1 project manager requests developer to forward such calls to him", 2017). In the second option, the project manager is infuriated that the junior developer has communicated directly with the client without involving the manager or forwarding the call to the same. He furiously screams at the developer and insults him by calling him an idiot. He also accuses him that his actions may cause problems in the contract. This causes the developer to go into stress leave for an indefinite time, which eventually slows the progress of the project and hampers its development and delivery ("Scenario II 2 project manager screams at junior developer", 2017). Lastly, the project manager can encourage the action of the developer and say him to keep up the good work. He does not communicate separately with the client or inform the matter with his senior. This may lead to problems later. The client may accuse the vendor company that the software delivered by them has not met their requirements. They may not sanction the extra expenditure that the vendor company has bared for marketing the requested changes to the software as the company has not negotiated a new contract for the requested changes the client has asked for and the budget that may be required for making such changes. This may result in financial loss on the part of the vendor company as well as loss of reputation for failing to deliver the product as per the requirement of the client. This will affect the manager, as he will be responsible for such damage to the company due to his decision of encouraging the action of the developer without informing his seniors ("Scenario II 3 P roject manager encourages the action of Developer", 2017). 8.Analysing the three options provided in the video it is decided that the first option is best to follow. This is because the first option follows the regulation of business communication that is required to be followed if a client asks to make modifications to the project in the middle of the session. In the first option the manager pause the development of the project and set up a meeting with the client where the change request of the client is noted and the necessary requirements in terms of budget and resources for making the changes are negotiated with the client. A new contract is made depending on the outcomes of the negotiation and the product is developed accordingly. This reduces the risk of running low on budget due to making the required changes to the product and allows the delivery of a product as per the requirements of the client, which will create a healthy relation between the business and its client (Newman Ober, 2012). References DesJardins, J. R., McCall, J. J. (2014). Contemporary issues in business ethics. Cengage Learning. Guffey, M. E., Loewy, D. (2012). Essentials of business communication. Cengage Learning. Jensen, J. V. (2013). Ethical issues in the communication process. Routledge. Kaynak, R., Sert, T. (2012). The impact of service suppliers unethical behavior to buyers satisfaction: An empirical study. Journal of Business Ethics, 109(2), 219-226. Martin, J. S., Chaney, L. H. (2012). Global Business Etiquette: A Guide to International Communication and Customs: A Guide to International Communication and Customs. ABC-CLIO. Newman, A., Ober, S. (2012). Business communication: In person, in print, online. Cengage Learning Management. Scenario 2: Development Methodology. (2017). YouTube. Retrieved 9 August 2017, from https://www.youtube.com/watch?v=0npm9cEJBWY Scenario II 1 project manager requests developer to forward such calls to him. (2017). YouTube. Retrieved 9 August 2017, from https://www.youtube.com/watch?annotation_id=annotation_4135226569feature=ivsrc_vid=0npm9cEJBWYv=4kuUDCfd0Lw Scenario II 2 project manager screams at junior developer. (2017). YouTube. Retrieved 9 August 2017, from https://www.youtube.com/watch?annotation_id=annotation_1025200307feature=ivsrc_vid=0npm9cEJBWYv=S0lgCfsVeOM Scenario II 3 Project manager encourages the action of Developer. (2017). YouTube. Retrieved 9 August 2017, from https://www.youtube.com/watch?annotation_id=annotation_3170017553feature=ivsrc_vid=18FL_l1gg4Uv=TGWD4HNBd80 Terec-Vlad, L., Trifu, A., Terec-Vlad, D. (2015). The decisional moment and ethics. Ecoforum Journal, 4(1), 11. Trevino, L. K., Nelson, K. A. (2016). Managing business ethics: Straight talk about how to do it right. John Wiley Sons.

Love Definition Essays - Emotions, Love, Romance, Philosophy Of Love

Love Definition The word love is defined as: "a deep feeling of affection, devotion, or attachment to another person". Knowing the literal definition is not enough for a person to fully understand to concept of love. Love is so deep, it as so many parts that only words can't possibly help a person to grasp the idea. In the movie Good Will Hunting, Will experiences love with many different people. First, Will and his friends shared a special type friendship that included much love. Will considered his friends to be his brothers, he trusted and cared for them deeply. The main character in the movie that showed Will how to love was Sean, his therapist. In the beginning of the movie, Will didn't know all that he needed to know about love. It wasn't until he met with Sean that he learned more about love. Sean taught Will about true love and true happiness. He said to Will that there is no way of knowing what love is until one experiences it. Sean also told Will that he needed to find a soul mate, one who challenges him and one who touches his soul. Since Will had a hard past life, he put love last, making him feel scared and ashamed. His fear of attachment caused problems with Skylar, a girl he was interested in. It wasn't until he became comfortable with love, and took Sean's advice that he tried to fix his problems with Skyla. When some one is in love they are so overwhelmed with feeling. When you love someone you drop everything for them, and there are no regrets. His or her flaws are not important, they are beautiful and wonderful in your eyes- nothing else matters. If Sean never taught Will about true love, he would of missed out on a great experience. Everyone learns about love from someone, whether it be a friend, parent or significant other. In my case I learned about true love though my significant other. In some ways I felt like Will because for the longest time I was afraid of love. My current boyfriend helped me to open up and feel what love was really like. For the longest time I felt an emptiness, that is now filled with my love for him. The impact that he has had on my life is incredible, just the thought of him can brighten up even my worst days. Sean was right, no one can fully understand love until they have experienced all that it brings.

My role Model essays

My role Model essays It always happens at the kindergarten. The teachers ask little students who their role model is. Most of them say police officer, fire fighter or their parents like heroic people. When I was in kindergarten, I never answered for that question. Truth, I had nothing on my mind to answer. Who is my role model? I questioned myself again, again and I had waited for my real role model. It was cold, December when I met her. My mom was told that I seemed to have special talent on singing so she brought me to someone who teaches singers professionally. I just turned 12, had no idea on singing. I just liked to sing. The woman who my mom brought me to looked very sharp. I could so tell that she was not and never could be easy person. She looked at me once and said  ¡Ã‚ °She is way too young to start singing. ¡ My mom ¡Ã‚ ¯s face turned surprised. And she also said  ¡Ã‚ °well, but let ¡Ã‚ ¯s see how you can sing, shall we? ¡ and grabbed my hand. She introduced herself as Mrs. Chun. We started worming up and I sang  ¡Caro mio ben ¡ After I sang the piece, there was exactly 5 minutes of silence. Mrs. Chun was gaping on me and my mom was trying to figure out what was going on.  ¡Ã‚ °It ¡Ã‚ ¯s incredible! ¡ finally Mrs. Chun closed her mouth and talked. She told my mom that she never except young singers but she ¡Ã‚ ¯ll on this time. I started havin g private lessons with her who I never thought could be my forever role model. Soon as I started studying with her, I got to know her better. She helped me to think seriously in musicianship and in one word; she was my musical guardian angel. As I got to know her better, I asked to myself hits question.  ¡Ã‚ °She is really role model type. Should I consider her as my role model? ¡ I wasn ¡Ã‚ ¯t sure about her. One day, the significant day that made me to confirm her as my role model came. It was her concert. Actually, It wasn ¡Ã‚ ¯t even concert. It was just little town perfor...

Headscarve Article Example | Topics and Well Written Essays - 3500 words

Headscarve - Article Example The word hijab comes from the Arabic language for veil and is used to describe the headscarves worn by Muslim women. These scarves, regarded by many Muslims as a symbol of both religion and womanhood, come in a myriad of styles and colors. The type of hijab most commonly worn in the West is a square scarf that covers the head and neck but leaves the face clear (Muslim Veils). A woman is judged by her appearance. The outward appearance provides the attitude, temperament and personality of the person. For this purpose, it is necessary to dress well. Now what is a dress' The dress is the covering for the body. To a woman, it includes the covering for the head as well. The teachings of the Quran uphold modesty. However, in the present times in Europe the word "modesty" has become blurred with women enjoying clothes that quite often reveal more and conceal less. In European nations, women enjoy same rights as men. They have pubs. They can strip down to the bra and shorts in the beaches. In case there is any mismatch, the women in Europe can struggle for equal terms. Hence, when it comes to the issue of the hijab it seems strange to them that nobody is objecting. The reason nobody is objecting appears to be that nobody is forced to wear the hijab. It is simply the instructions of the Quran. The followers take the Quran seriously. As regards persona, it depends on the wearer what she wants the hijab to do to her persona. The hijab may make the woman wearing it appear more charming. However, the purpose of hijab is modesty. "Tell the faithful women to lower their gaze and guard their private parts and not display their beauty except what is apparent of it, and to extend their scarf to cover their bosom" Quran, 24:31. In the present times, the hijab has been the focus of much criticism and controversy because of the way it has been viewed in western countries. The popular view in the western countries is that the hijab is a sign of religious oppression. The Muslim woman does not enjoy the type of freedom that her western counterpart does. Hence, the impression that the westerners appear to have is that woman elsewhere live in slavery. Contrary to this feeling, Muslim women, by and large, enjoy wearing the hijab and consider it a part of their religion and culture. This adherence to the hijab is mistaken for Islamic radicalism. This misinterpretation is the biggest hurdle to integration. It separates the law-abiding citizen

Team working Essay Example | Topics and Well Written Essays - 750 words

Team working - Essay Example The significance of team work may be explained using the following photograph. The photograph also explains the how efficient service user delivery works, and why it is essential in the success of an organization. Picture illustrating the significance of teamwork (http://www.mkhalid.com/category/project-management-team-work/) The above photographs shows men repairing a broken railway line in a team. I have chosen the picture because the broken railway line connects two geographical regions just like consumers and organizations are connected by services and products. The three men on the right side come from the rightward geographic region while those on the left also reside in the region where they are working. I believe that the two groups represent nurses and patients in the real world. The railway line that connects the two regions is similar to services and communication that takes place between nurses and patients (Naumann, & Ehrhart, 2011). The picture, therefore, indicates tha t teams should compose of workers from different levels such as nurses and doctors, and because of efficient user service delivery, they should also include consumers (Parker, 2010). This is because consumers are the ultimate users of goods, and they determine the success of the activities in an organization (Hiebart, & Clart, 2011). This means that user involvement should begin at the lowest level of a firm in order for it to achieve its objective. The photograph above indicates that teamwork should take place with an objective of increasing efficiency. The men from the right and left in the above picture have come together to repair the broken railway line. This means that the participants of the project would not be together were it not for the purpose of repairing the transport network. The objective of teamwork should also be positive and beneficial to a large number of users (Belbin, 2010). In the photograph above, the aim of the team is to enhance transport of people and reso urces between the two geographic regions. One region in the picture practices agriculture while the other does not, and this means that the railways line helps to deliver food products in the non-agricultural region. I suppose that teamwork in nursing should aim at providing consumers with critical health services that cannot be found anywhere else in the market. Members of teams cooperate and develop efficient techniques of delivering their services (Jasper, 2011). The repairing the railway indicates that service user involvement should have an aim for it to succeed. The lack of efficient communication in a team may lead to conflicts among group members. This indicates that there is need for effective communication skills among team members to avoid distortion of messages. However, in the case of the occurrence of conflicts among members of a group, the team leader should be responsible for ensuring that the misunderstanding ends. A team leader who possesses problem solving skills resolves the conflicts using his skills. This saves time that would be wasted by members on the problem, and it ensures that the team works towards achieving its goals. In the photograph above, there seems to be no team leader, and the members are standing because there is a conflict. The team should have employed a leader who would

Mozart's Don Giovani Research Paper Example | Topics and Well Written Essays - 1250 words

Mozart's Don Giovani - Research Paper Example The form of opera established by Florentine Camerata was initially practiced in Italy in 1600. The opera was initially performed for the upper class individuals and the characters were also from the aristoto class. Opera was later exposed to the public with the city of Venice being the centre for opera performance which was enhanced by the construction of a public opera house in the city of Venice in 1637 (Snowman, 2010, 46). 1The story line of the opera commences by a strong relationship existing between Don Giovanni and Donna Anna. Being the womanizer, which he is, during the Opera, Don Giovanni is anticipated by the audience to get up and leave Donna Anna—the anticipations are confirmed when he tries to abandon her (Mozart., 1985, p. 5).However, she rejects the idea of him leaving and insists that the only possible alternative would be that Don Giovanni takes her life before she will allow him to abandon her (Mozart., 1985, p. 6) Don Anna’s words stay engraved in Don Giovanni’s mind, which he recounts over and over, nevertheless, he continues to degrade Donna Anna with his insults. In the midst of the chaos, Donna Anna’s father, who is the leader of the civil authority, is awoken by disturbance; He challenges Don Giovanni to a duel, which, he strongly refuses initially but accepts later after Anna’s father insists. The duel carries on and eventually Donna Anna’s father is killed (Mozart., 1985, p. 7) Regardless of the tragic beginning the opera takes a slow turn to light humor during the act—there is an inclusion of several practical jokes alongside pranks which enhances comedy in the opera, commonly involving Loporello, which is Don Giovanni’s servent. The Jokes are also an aid for hiding the tension and frustrations within each character in the Opera – Donna Anna, Donna Elvira, Zerlina (Rushton, 1981, p. 4). For example, the case where Don Giovanni’s Ex-girlfriend, Elvira, who continues to pursue him, manages

Impact of the Internet on Political and Social Change

Impact of the Internet on Political and Social Change Placing the rise of the World-Wide Web in its historical context, assess the extent to which the Internet has been a force for positive social or political change. Word count: 996 words This essay deals with the extent to which the rise of the internet has been a force for positive social or political change when placed in its historical context. Considering the factors that have been influential on social change, it will then go on to assess the extent to which there has been an impact on political change. In addition to this, it will outline the counter arguments that oppose the positive development of the of the world-wide web, and assess the extent to which positive social and political change has been established.Then it will draw conclusions to evaluate the true extent to which the rise of the world-wide web has been a force for positive social and political change or to what extent the process has been hindered. Sir Timothy John Berners-Lee is a British computer scientist who is credited with writing, at the time, his own private program for storing information that went on to form the main structure of the World Wide Web. As the source (Tim Berners-Lee, 2012 ) reads in 1989, he proposed a global hypertext project, to be known as the World Wide Web; it was to be designed to allow people to collaborate by combining their knowledge in a web of hypertext documents. He wrote the first Web server and the first client, a hypertext browser-editor and advocated to ensure that CERN would agree to make the underlying code available on a royalty-free basis, for ever. Two of the most significant impacts that the world-wide web has had in terms of being a force for social change is in the form of connections and communications. These networks are not a tool for concealment of identities, but alternatively, exhibition of a real person. There is a close connection between virtual networks and networks in society, meaning sociability is easily adaptable between reality and virtuality. (Castells, 1997) As Tyler (2002, pp.196) writes the internet allows people to more easily work from their home, to form and sustain friendships, romantic attachments and to manage bank accounts. They are also essential in enhancing initiatives to promote political and social-issue-based discussions with others in their communities from home, and to pursue other social connections. Academics have been hugely influential in providing evidence that the world wide web indeed enhances this sociability (Castells, 1997), (Rainie Wellman, 2012). Academic research into this has presented a positive correlation between the conitued use of the internet with indicators of personal happiness. Another impact that the rise of the world-wide web has had on social change is that it has increased the ability for all sized businesses to advertise. This means that regardless of its size every business can still play a role in shaping society whether thats by making us aspire to be something or making us want something. (Kumar, V., Gupta, S. 2016, pp. 302) reference Jaishri and Shruti (2006) by stating, Digital advertising has an ability to move markets and minds, products and perceptions. It builds a relationship between customers and brands. The world-wide web has also developed into a place where political change has occoured. As Kenski, K. and Stroud, N.J. (2006, pp. 174) identified, results they obtained from the National Annenberg Election Survey, studying the relationships of access online and relative exposure to information surrounding presidential campaigns and political value and engagement. Political efficacy is a determinant of political behaviour-without feelings of competency and beliefs that ones actions are consequential; one has little incentive to participate in politics. (Kenski, K. and Stroud, N.J. 2006, pp. 174) During the American presidential election, the social media site Twitter was used frequently by the two main candidates Donald Trump and Hillary Clinton. They shaped the perceptions of the people of America via the use of tweets against the other party to obtain popularity using powerful rhetoric. As (Graham et al., 2013, pp. 694-695) writes politicians who use Twitter regularly tap into the intimacy Twitter fosters. Additionally, social network sites develop reciprocal relationships (Graham, 2013) due to engagement through public input on political dilemmas. The rise of freedom and independence, has enabled the growth of the world wide web for mass communication and self-promotion purposes, politically and socially. (Rainie, and Barry Wellman, 2012). While the world-wide web has been a force for both postive social and political change, it has also become influential in a negative way too. The world wide web is addictive and this often means that people find themselves spending vast periods of time online. As Shotten, M. (1991, pp. 219 ) writes many early Internet users were computer hackers, who were characterized as preferring the machine to people. Often social outcasts, they turned first to the computer and then to the internet in lieu of people. Another reason why the rise of the internet has caused a negative impact in terms of political and societal change is people nowadays are more likely to make final decisions based off of what they see online rather than what their common knowledge tells them to. Digital technologies dont produce effects by themsleves, but instead form the platform from which these social and political effects can come about by altering the communication capacity. One significant societal change is the impact seen on communications and connections on an exponential level, enabling people and businesses to establish a physical presence. Additionally, political change can be seen through an increase in social media usage surrounding political events, through which participation and interaction with voters allows the candidates to assert power and mediate perceptions. Although, contrasting ideas such as the addictiveness of the internet, argue that the rise of the world-wide web has also been a force for change in a detrimental way with it being the cause of factors such as social outcasts and the damaging of peoples intellectual abilities. However, the rise of the world-wide web has most certianly had more of a positive impact than a negative impact on both pol itical and societal change. References: Graham, T., Broersma, M., Hazelhoff, K. and van t Haar, G. (2013) between broadcasting political messages and interacting with voters, Information, Communication Society, 16(5), pp. 692-716 Kenski, K. and Stroud, N.J. (2006) Connections between Internet use and political efficacy, knowledge, and participation, Journal of Broadcasting Electronic Media, 50(2), pp. 173-192. Kumar, V. and Gupta, S. (2016) Conceptualizing the evolution and future of advertising, Journal of Advertising, 45(3), pp. 302-317 Shotten, M. (1991). The costs and benefits of computer addiction. Behavior and Information Technology, 10, pp. 219-230 Columbia University Press (2012) Tim Berners-Lee. Columbia Electronic Encyclopedia, 6th Edition,. Available at: http://eds.a.ebscohost.com/eds/detail/detail?sid=68ad9a68-9b77-40f1-ac06-702a6564089d%40sessionmgr4006vid=5hid=4205bdata=JnNpdGU9ZWRzLWxpdmU%3d#AN=39047085db=lfh (Accessed: 12 December 2016). Tyler, T.R. (2002) Is the Internet changing social life? It seems the more things change, the more they stay the same, Journal of Social Issues, 58(1), pp. 195-205. Castells, M. (1997) The information age: Economy, society and culture: V. 2: Power of identity. 2nd edn. Malden, MA: Blackwell Publishers. Rainie, L. and Wellman, B. (2012) Networked: The new social operating system. Cambridge, MA: The MIT Press.

Rattlesnakes of the Southwest Essay -- essays papers

Rattlesnakes of the Southwest Rattlesnakes are very common in North America; they mainly range from Arkansas to Southern California. Rattlesnakes as most people known use a rattle, located at the ends of their tail, to warn people of their location. Rattlesnakes are from the Pit Viper family of snakes. They use pits located in their head to sense heat from prey or predators. Some rattlesnakes can sense heat from a mouse from as far as twelve feet away. Some common rattlers of the southwest are the Western Diamondback, Mohave, Sidewinder, and Prairie Rattlesnakes. All snakes listed are of the Genus Crotalus; which is the most common among rattlesnakes. Western Diamondbacks are the most common and most likely to come in contact with people. It has the widest geographic range, ranging from Arkansas to Southern California and into Northern Mexico. It is the largest rattlesnake in the southwest, attaining lengths of up to six feet. It also packs the most venom; normal yield is normally around 200-300 mg. A dose of 100 mg is usually lethal to humans, although most bites are defensive and venom is not injected. These snakes are very difficult to see because they blend in so well with their surroundings. They commonly have about ten rattles at 5 to 6 years of age. Mohave, sometimes referred to as Three-Stepper, are the second most common rattlers in the southwest. The main factor of the Mohave Rattlesnake is that it is the most venomous snake in this family. It’s normal yiel... Rattlesnakes of the Southwest Essay -- essays papers Rattlesnakes of the Southwest Rattlesnakes are very common in North America; they mainly range from Arkansas to Southern California. Rattlesnakes as most people known use a rattle, located at the ends of their tail, to warn people of their location. Rattlesnakes are from the Pit Viper family of snakes. They use pits located in their head to sense heat from prey or predators. Some rattlesnakes can sense heat from a mouse from as far as twelve feet away. Some common rattlers of the southwest are the Western Diamondback, Mohave, Sidewinder, and Prairie Rattlesnakes. All snakes listed are of the Genus Crotalus; which is the most common among rattlesnakes. Western Diamondbacks are the most common and most likely to come in contact with people. It has the widest geographic range, ranging from Arkansas to Southern California and into Northern Mexico. It is the largest rattlesnake in the southwest, attaining lengths of up to six feet. It also packs the most venom; normal yield is normally around 200-300 mg. A dose of 100 mg is usually lethal to humans, although most bites are defensive and venom is not injected. These snakes are very difficult to see because they blend in so well with their surroundings. They commonly have about ten rattles at 5 to 6 years of age. Mohave, sometimes referred to as Three-Stepper, are the second most common rattlers in the southwest. The main factor of the Mohave Rattlesnake is that it is the most venomous snake in this family. It’s normal yiel...

Economic globalization and environment change Essay

Ever since the evolution of globalization, which began in 1990s, Asia and Europe have been benefiting with industrial success and economic development. As a matter of fact globalization is lead by United States under the leadership of WTO and United Nations. Globalization has developed a business network connectivity through Internet technology bringing global businesses to a single platform enabling exchange of goods, services and technologies. Globalization operates on predetermined success followed by global norms of business principles, bringing a change in global civil society at a macro level. Some of the benefits of globalization are, increased employment opportunities in computer technology, opportunities to commence new businesses, scope for finding new customers through Internet. Globalization is not similar to internationalization, which reinstate a fact that in order to encourage globalization, political and economic processes of nations also have to be globalized to be in tune with globalization. Globalization can be successful, only when a nation’s economic policies are globalized. This once again reinstates a fact that there is a clear and close interconnectivity between globalization and economic development of nations. Economic globalization expands businesses, industrial sector, technology sector, science and research. Economic development strengthens the financial capacity of nations whether it is through export of goods or by a rise in stock market. Certainly, there is a huge impact on global civil society who directly or indirectly, participate and reciprocate by contributing a portion of service to the nation. International global political economy (IPE or GPE) is it in any way related to globalization? In this regard, â€Å"It is generally agreed that the 1970s have seen fundamental changes in the way in which the international political economy is organized, leading to a more global approach both in IPE/GPE and environment†. (Strange 1996; Scholte, 1993; Mittleman, 1997, Lipschutz, 1996). Further, it is important to understand what the ‘global’ definition states. â€Å"the encompassing of the whole globe rather than just regions. Therefore, it would not be technically, geographically, or indeed spatially correct to use the term globalization for economic, social, or political phenomena that affect only part of the (inhabited) world, as many authors do indeed propose†. (Gabriela Kutting, 2004). The environmentalism celebrated its anniversary in the year 2002 conducted by United Nations Conference on Economic Development (UNCED) in Rio de Janeiro. This was followed by 1971 Earth Day which framed the importance of global civil society. And it was 40 years since Silent Spring (Carson 1962) began the consciousness-raising work that many now credit with the birth of environmentalism as a social movement in America. †( Sheila Jasanoff, Marybeth Long Martello. 2004) â€Å"The concept â€Å"global† in contemporary environmentalism remains in this respect as essentially contested as are â€Å"liberty† and â€Å"accountability† in democratic politics†. â€Å"For now the struggle to define â€Å"global† may be one of the best avenues we have for engaging in a meaningful politics of globalism. (Sheila Jasanoff, Marybeth Long Martello, 2004) Protecting environment is an important aspect in global perspective. Conservation of forests, protection of wildlife, natural resources, controlling population, construction of dams, transport and infrastructure of states, are some of the basic criteria of a well developed nation, for which governments allocate a portion of budget every year. Global warming is also due to the cause of excessive industrialization and industrial pollution. Glaciers are also one of the causes, to the rise of water level in seas and oceans, causing floods, cyclones or other natural disasters to environment. United Nations has particularly been following up with island states in order to minimize the impact of the UN Decade for Natural Disaster Reduction. In simple form to explain, economic globalization leads to emission of more hazardous industrial gas, green house gases and automobile pollution. As a result of this, the health of environment is damaged bringing new sicknesses and epidemics such as SARS to people. There is a particular concern in 21st century about protecting environment above the parameters of economic development through globalization. From the times of 1940, when the actual industrialization began in United States till the present date, when globalization and industrialization has reached its peak and is still growing at a robust rate, a significant concern has emerged about global warming and about emission of green house gases, the causes of which have to be dealt with on an emergent need, which if ignored, may further deteriorate environment in a vast measure. This discussion of economic globalization and environment change are affecting each other, and it is important to give due consideration to each issue as a separate identity i. e. economic globalization advantages, disadvantages and its impact. Similarly the changes in environment, its negative impacts and effects and how these can be prevented. Especially environmental system brings huge unforeseen losses, such as loss of human lives in Tsunami (2004), Katrina ((2005), epidemics and loss of industrial houses and businesses, and in view of these, funds for disaster management have to be adequately provided. A periodical report of economic globalization and its impact on global civil society and above all, environment change must be followed by United Nations, WTO and World Bank in order to monitor, organize globalization and environment. The present world population is crossing the limit of six billion, which reveals a fact that, it is important to protect environment for the safe and secured health of its people. Further economic development has further disadvantage with devaluation of currency and inflation. Globally accepted currency for exchange of goods and services is admittedly U.  S. Dollar. A nation’s financial strength is determined by its regional currency exchange with U. S dollar. When U. S. dollar is devalued, it has a greater impact on all those nations, which are in trade with United States. â€Å"At the beginning of 1970s, Americans faced two economic problems: declining competitiveness and rising inflation. In 1971, for the first time in the twentieth century, the United States posted a trade deficit, meaning that Americans purchased more goods from other countries than they sold to people living in those countries†. Robert K. Schaeffer, 2005) Further U. S spends huge amounts on wars such as Iraq (2003) and disaster management for Katrina (2005) which further adds to the deficit of U. S. budget. These unforeseen events, lead to an excessive monetary pressure on governments resulting in deficit budget and in slowing down the growth in economy, resulting in inflation. This further puts work pressure on workers of industries to produce more output as compared to the regular working hours. Whenever there is a crisis in government, the negative impact of crisis affects its population both financially and at emotional level. â€Å"On August 15, 1971, President Richard Nixon confronted both problems simultaneously. To improve U. S. competitiveness, he took steps to devalue the dollar in relation to currencies in Western Europe and Japan. And to fight inflation, he introduced price and wage controls, which were designed to limit wage raises and price increases. The Nixon shocks, as these were called in Japan, marked the beginning of U. S. efforts to solve two serious economic problems†. (Robert K. Schaeffer, 2005) There is financial crisis existing in all parts of the world. The World Bank and other respective regional Central Banks have been funding nations, to use funds in order to sustain financial crisis. Conclusion Protection of environment vis-a-vis economic development along with globalization are equally important for global economy whereas appropriate measures have to be considered.

M3.46 Managing Performance Ilm Level 3 Essay Example

M3.46 Managing Performance Ilm Level 3 Essay Example M3.46 Managing Performance Ilm Level 3 Essay M3.46 Managing Performance Ilm Level 3 Essay Managing Performance When looking at performance management it can be defined as (1) ‘a process which contributes to effective management of individuals and teams in order to achieve high levels of organisational performance. As such it establishes shared understanding about what is to be achieved and an approach to leading and developing people which will ensure it is achieved. ’ We can see from this definition that managing performance is crucial to the overall performance of the organisation and meeting its goals and objectives. This process must then be strategic but also link other aspects of the organisation such as individuals and teams. As defined above, performance management is ultimately about achieving high levels of organisational performance. As managers we must use performance management as a continuous process that aims to improve develop the individuals in our team. MITIE uses the below diagram to illustrate that the process is continuous. (2) Within my role as Admin Manager I have 3 people directly reporting in to me. As a team we are largely responsible for the smooth running of the operations side of the business including planned and reactive tasks. The team operates across the contract as a whole so has responsibilities in numerous varied processes and tasks. Below I have highlighted some of the key responsibilities within this role in terms of performance management. * Recruitment – I am responsible for recruiting people who are qualified, have relevant experience and can fit in to the team. * Inductions – Site Company inductions are completed and help to start setting performance standard. Setting Performance standards – Features of the job that are usually continuous and based around how the team works or their behaviour. * Setting Objectives – Team and individual objectives are set to achieve specific performance targets. Also objectives are set for individuals relating to personal development. * Probation Review – Completed 3 months in to a new team mem ber’s employment. This is the first official opportunity to review an individual’s performance. Initial objectives and performance standards are also set at this time. Improvement and Development – I have to look for areas where the team can improve performance. Similarly I have to ensure the team has the skills and ability to complete their objectives. This involves development and training for the team and individuals. This is a 2-way process though and as a manager I must create a culture where the team and individuals can be at the forefront of their own development. * Appraisals – These are completed annually and are used to review performance of the individual. During this process the objectives set previously are reviewed along with performance standards. Feedback is given both positive and negative if required. Future development plan is discussed and agreed with the individual. This is also an opportunity for the individual to discuss any problems or obstacles that they have encountered in trying to carry out their role. Furthermore this is also an opportunity to take action to improve poor performance. * Absence/leave – This involves managing planned leave as well as unplanned so team performance is maintained at the required level. As highlighted above one of the key responsibilities I have as a manager is to set team objectives. These objectives must be set and then agreed with the team. Some examples of objectives I have set for the team are below: * Achieve a minimum of 96% overall KPI score for reactive task performance every month * Manage the planned maintenance tasks so 100% of statutory PPM’s are completed within legislative defined timeframe. * Manage all Priority 1 reactive requests for data centres MTXs to ensure zero SLA failures are incurred each KPI month. Within the team I also have performance standards that I set, which are linked to the MITIE’s values. Some examples are below. (3) * Take pride in delivering and improving services to the client * Understand the clients requirements and try to exceed expectations * Use initiatives to resolve issues calmly and effectively * Promotes MITE by doing the best job possible and demonstrating passion for the quality of work done * Deliver the best service by showing flexibility in approach and being open to fresh thinking * Understand and implement strategies nd processes to generate profits in line with business targets and expectations * Understand what is expected of them in support of the client and how to deliver it * Work efficiently without wasting resources or time, understanding that this effects profit * Informs manager of factors that may impact on the business * Co-operate with colleagues and clients, work together and support each other to achieve team and client goals * Recognise the impacts of personal actions on reputation of the team, yourselves and MITIE * Prioritises workload to ensure personal and team goals are achieved * Make a positive contribution to the team and the organisation as a whole * Demonstrate support for others Looking at the above we can see how many of the objectives and performance standards are linked. To achieve the objectives the team must work to the performance standards. Below I have highlighted an example of how the two are linked. Objective| Performance standards required to complete| Achieve a minimum of 96% overall KPI score for reactive task performance every month| To complete this objective the team must – * Understand the client’s requirements and try to exceed expectations. * Work efficiently without wasting resources or time, understanding that this effects profit * Prioritises workload to ensure personal and team goals are achieved| The performance standards can be applied to all of the objectives in some way and do not change significantly throughout a review year. These standards are continuous and they outline the way in which the team works. Team Objectives differ as they have defined performance areas. Furthermore they can change frequently throughout a review year. When managing performance arguably the most critical element of the process is measuring the performance. This can be completed in a variety of ways and is done so against the team objectives and performance standards set. Measuring performance against objectives differs from that of performance standards. Below I have highlighted how I would measure performance against the objectives and performance standards. In the above flowchart we can see how measuring performance against objectives involves many of the same methods. As managers we can use a combination of measures to get an overall picture of how the team is performing. Measuring objectives is usually a precise measurement with defined criteria for success and failure. For example the KPI score indicates the success and or failure of the above objectives. In the above flowchart I have highlighted the methods I use for measuring performance against the performance standards. To illustrate how a combination of measures is often required I have grouped them together. Looking at the above flowcharts we can see how objectives and performance standards need to work in unison to be successful. All of the performance standards are there to help achieve the objectives and clearly indicate to the team what the expectations are. As the admin manager I need to use a combination of performance measures so I can effectively manage the team’s performance. If I know where we are in terms of performance I can then look at development and improvement opportunities. When measuring performance there are inevitably instances where the team or individuals are underperforming. An example of underperformance that has occurred from an individual is as follows: Within the admin team I manage there are 3 individuals with similar workloads and responsibilities. Around 6 months ago one member of the team continually made errors and in some cases forgot to complete the weekly bookings for the engineers. The bookings are so the engineers in the field can access secure sites and complete routine and reactive maintenance. It is a crucial part of the role and if not completed it impacts negatively on the overall contract performance. After a few weeks of mistakes being made and bookings not being done I decided that a performance improvement plan needed to be implemented. Prior to completing this I had looked at the workload of the individual compared to the other team members and concluded that there was no difference. Next i looked at other factors that could be reasons for the individual performance. In this process I looked at internal factors such as competences, methods of work, personal problems, medical and motivation. Examples of the external factors I considered were distractions, family ; relationships, finance and other team members. Most of these factors were discussed with the individual in an informal meeting to gain an understanding of how the individual thinks they are performing. The individual highlighted that during the time where they complete the weekly bookings they were distracted by phone calls, emails and other team members so couldn’t concentrate on the completing the task. Taking this feedback from the individual I was happy that the reason for underperformance was due to distractions and time management issues. From here I asked the individual to go away and look at the tasks they need to complete in the week and suggest areas for improving their time management. The next step was to have a meeting with the individual to identify areas to improve the way they work to allow the task to be completed. It was agreed that 2 hours was required a week to complete the bookings. Using the individual’s feedback regarding time and the distractions I put together a method that would aim to remove the distractions. I suggested the following methods: * Put a 2 hour window in calendar to complete bookings each week between 10-12 * Put out of office on diverting to other team members for the 2 hours and close down outlook * Divert phone to other team members for 2 hours Move to location away from other team members to complete bookings In the process i looked to remove the distractions and give the task some structure by putting a timeframe to it. This was agreed by the individual and then cascaded to the other team members. When using this performance improvement technique I also had to consider what happens after it is implemented. To do this I used an improvement cycle which continues until the individual is performing at the required level. Below is an example of cycle: (4) For the above example we can see that after the plan stage I must measure the performance. This will involve using the techniques as highlighted earlier, in particular feedback from engineers. I must then compare these results with other members of the team. This will help to see if the improvement process can be improved or needs amending. If any changes need to be made then they are implemented and the cycle starts again. Improving performance is not a start to finish process and needs to be implemented as a continuous cycle. Bibliography 1. ARMSTRONG, M. and BARON, A. (2004) Managing performance: performance management in action. London: Chartered Institute of Personnel and Development 2. MITIE Intranet – BMS Form MG(G)541 Managers guide to performance management – objective based appraisals – Page 2 3. MITIE – Performance Standards Document 4. measure2improve. econtrack. co. uk/Content. aspx? 236 – accessed 29/11/2011

Home essays

Home essays The Project Home: A Completely Student Production I think that Home was a well-done play. The play was not long, and it kept the audience on its seat at all times. I believe that the play was very well prepared for, and I could tell that effort had been placed in producing Home by all of the students who contributed to the play in some way. This is why this play was very effective. The play happened to be effective in two areas: playwriting and design. This was my first experience with a student-produced play. However, I was pleasantly surprised by the playwriting for the play. There were six individual scenes presented by different students. Almost each scene tends to deal with problems at home except for the last scene. In The Adminadvert, I like the way Ryan Self portrays the tension between the husband and wife by having the husband ignore his wife. This is an underlying effort intended to show what time period it was and explain why Anna was looking out of her window with binoculars. In Come Home Iris, I like the way Rose and Lavenders pains were evoked through their chained feet. In Accident, I didnt understand what Tracy and Dawn were talking about until the middle of the scene. I think that Dawn Hael did a good job of portraying the different scenes that could have happened or what the people really wanted to say. In Echoes of Betrayal, I think that the ensemble did a good job of using two different versions of the same event to explain how the husband felt useless and how the husband tried to cover up his feelings for the other woman. In Tradition, I like the way Elizabeth and James were used to betray Ellie and Anthony for Nana. It makes it seem as if they were continuing the tradition as she previously did. Finally, in Fairy Tale, I like how the play kind of had a happy ending where as most of the other plays were dark and gloomy. The little girl was able to see her prince even after her ...

Speech errors Essay Example | Topics and Well Written Essays - 2000 words

Speech errors - Essay Example Phonetic errors include pronunciation mistakes in speech. Phonemes also refer to the sounds that people make during speech. Such errors are equally common and often affect the effectiveness of the communication process. While such are common errors, people are not always likely to make specific mistakes during speech. Among such are the verb tense agreements. Psycholinguists explain that the types of common errors portray unique features of the brain. The brain of a speaker at any given time coordinates a series of activities all of which ensures the manifestation of an error during the tie of speech. A speech process is an extensive process that requires the effective coordination of the facts a speaker presents besides the need to coordinate sentence structures in order to enhance the effectiveness of a speech. Balances and checks depending on the tasks of the speaker often characterize the mental state of a speaker. Public speaking among others for example always entails a series of activities all of which require the effective coordination of the body. Sentence construction and speech production are key features of a speech. Other additional activities include body movements and nonverbal communication among others. Such are basic features of speech that enhance the effectiveness of the communication process. The brain that acts as the central processing unit of the body systematically coordinates he activities of the body during a speech thus enhancing the speech depending on the stability and composure of the speaker.

Globalization in India Essay Example | Topics and Well Written Essays - 500 words

Globalization in India - Essay Example The raise in migration, pressurise the city vicinity with increase in the density of population. The need to develop more land for living drives us to eliminate the greenery or natural habitat. Many cultivable lands were been taken away by either government or private realtors for the thrust for wealth. Land acquisition in countries like India created lot of uproar as people who depend on the land has to either relocate or they were forced to relocate leaving their age old habitats, the cattle, house etc. Multi national companies like POSCO have planned huge investments in Orissa state of India. The investment has ignited people to raise lot of concerns as it requires lot of relocation and rehabilitation management at the proposed sight. According to Vijayan MJ, the state government and POSCO rolled out a billion dollar investment plan in Orissa state of India. The land required for the project is 4004 acres out of which 3566 acres is government land and the rest 438 acres is private land. In all, as per official data, 471 families would be affected from the three Gram Panchayats. However, as per the local movement against POSCO, more than 4000 families, i.e., a population of 22000 will be affected by the project in the area.

Language development Essay Example | Topics and Well Written Essays - 500 words - 2

Language development - Essay Example At this preliminary stage it is necessary to investigate the topic through a variety of means. Researchers suggest a number of strategies which may be effective in examining the topic. These include brainstorming, clustering and free-writing (Lipkewich and Mazurenko1999). Clearly, these strategies act as a measure of developing or restricting a topic. The more ideas that are generated at this stage the more structural focus the writer would obtain from this initial piece of writing. The purpose of this first step then is to establish some sort of structure to the ideas that are generated. Thus, if a writer decides to choose free-writing as a means of initiating the writing process then the writer may begin to write on a topic without interruption until everything the writer knows about the topic is exhausted on the paper. In this case there may no adherence to grammatically correct structures such as spelling, punctuation or even paragraphing. The words that appear on the paper would be an exact replica of the thoughts that flow through the mind. The second step involves the actual composition of the paper. Some writers use this stage as a means of creating a rough draft of the final paper. The previous stage which may or may not have included free-writing is the precursor to this writing stage where the writer brings some sort of focus to the writing. During this stage therefore the writer must adhere to the mechanics of writing which were previously ignored in the earlier stage. There is need to organize the work in terms of correct punctuation, paragraphing and other grammatical structures which may have been non existent in the previous stage. Consequently, the major purpose for this writing stage is to add content and organization to the work. The more time a writer spends on this initial writing stage the less work will be needed to complete the final draft. Revising, the third step in the writing process

Arithmetic Mean and Five-step P-value Approach Essay Example for Free

Arithmetic Mean and Five-step P-value Approach Essay A manufacturer of chocolate candies uses machines to package candies as they move along a filling line. Although the packages are labeled as 8 ounces, the company wants the packages to contain a mean of 8. 17 ounces so that virtually none of the packages contain less than 8 ounces. A sample of 50 packages is selected periodically, and the packaging process is stopped if there is evidence that the mean amount packaged is different from 8. 17 ounces. Suppose that in a particular of 50 packages, the mean amount dispensed is 8. 159 ounces, with a sample standard deviation of 0. 051 A. Is there evidence that the population mean amount is different from 8. 17 ounces? (Use a 0. 05 level of significance. ) B. Determine the p-value and interpret its meaning. 9. 27 In New York State, savings banks are permitted to sell a form of life insurance called savings bank life insurance (SLBI). The approval process consists of underwriting, which includes a review of the application, a medical information bureau check, possible requests for additional medical information and medical exams, and a policy complication stage in which the policy pages are generated and sent to the bank for delivery. The ability to deliver approved policies to customers in a timely manner is critical to the profitability of this service. During a period of one month, a random sample of 27 approved policies is selected, and the total processing time, in days, is recorded (and stored in insurance): 73 19 16 28 31 56 45 17 22 18 91 92 50 51 69 A. In the past, the mean processing time was 45 days. At the 0. 05 level of significance, is there evidence that the mean processing time had changed from 45 days? B. What assumption about the population distribution is needed in order to conduct the t test in (a)? C. Construct a boxplot or a normal probability plot to evaluate the assumption made in (b). D. Do you think that the assumption needed in order to conduct the t test in (a) is valid? Explain. 93. 1 One operation of a steel mill is to cut pieces of steel into parts that are used in the same frame for front seats in an automobile. The steel is cut with a diamond saw and requires the resulting parts must be cut within ? ± 0. 005 inch of the length specified by the automobile company. The file Steel contains a sample of 100 steel parts. The measurement reported is the difference, in inches, between the actual length of the teel part, as measured by a laser measurement device, and the specified length of the steel part. For example, a value of -0. 002 represents a steel part that is 0. 002 inch shorter than the specified length. A. At the 0. 05 level of significance, is there evidence that the mean difference is not equal to 0. 0 inches? B. Construct a 95% confidence interval estimate of the population mean, Interpret this interval. C. Compare the conclusions reached in (a) and (b). D. Because n= 100, do you have to be concerned about the normally assumption needed for the t test and t interval? 9. 45 In recent year, the Federal Communications Commission reported that the mean wait for repairs for ATT customers was 25. 3 hours. In an effort to improve this service, suppose that a new repair service process was developed. This new process, used for a sample of 100 repairs, resulted in a sample mean of 22. 3 hours and a sample standard deviation of 8. 3 hours. A. Is there evidence that the population mean amount is less than 25. 3 hours? (Use a 0. 05 level of significance. ) B. Determine the p- value and interpret its meaning. 9. 47 You are the manager ot a restaurant that delivers pizza to college dormitory rooms. You have Just changed your delivery process in an effort to reduce the mean time between the order and completion of delivery from the current 25 minutes. A sample mean of 22. 4 minutes and a sample standard deviation of 6 minutes. A. Using the six- step critical value approach, at the 0. 05 level of significance, is there evidence that the population mean delivery time value of 25 minutes? B. At the 0. 05 level of significance, use the five-step p-value approach? C. Interpret the meaning of the p- value in (b). D. Compare your conclusions in (a) and (b). 9. 53 The U. S. Department of Education reports that 46% of full-time college students are employed while attending college (data extracted from The Condition of Education 2009, National Center for Education Statistics, nces. ed. gov). A recent survey of 60 full-time students at Miami University found that 29 were employed. A. Use the five- step p-value approach to hypothesis testing and a 0. 05 level of significance to determine whether the proportion of full-time students at Miami University is different that the national norm of 0. 6. B. Assume that the study found that 36 of the 60 full-time students were employed and repeat (a). Are the conclusions the same? 9. 55 One of the issues facing organizations is increasing diversity throughout the organization. One of the ways to evaluate an organizations success at increasing diversity is to compare the percentage of employees in the organization in a particular position with a specific background to the percentage in a position with that specific background in the general workforce. Recently, a large academic medical center determined that 9 of 17 employees in a particular position were female, whereas 55% of the employees for this position in the general workforce were female. At the 0. 05 level of significance, is there evidence that the proportion of females in this position at this medical center is different from what would be expected in the general workforce? 9. 57 One of the biggest issues facing e-retailers is the ability to reduce the proportion of customers who cancel their transaction after they have selected their products. It has been estimated that about half of prospective customers cancel their transactions after they have selected their products (data extracted from B. Tedeschi, E- Commerce, a Cure for Abandoned Shopping Carts: A Web Checkout System That Eliminates the Need for Multiple Screens, The New York Times, February 14, 2005, p. C3). Suppose that a company changed its Web site so that customers could use a single page checkout process rather than multiple pages. A sample of 500 customers who had selected their products were provided with the new checkout system.

A Financial Comparison Between Two Companies Finance Essay

A Financial Comparison Between Two Companies Finance Essay Find the most recent financial statements for two companies of same industry which are listed in KLSE (Kuala Lumpur Stock Exchange). Evaluate the financial position and performance for each of these two companies using accounting ratio analysis. You are required to compute and compare the accounting ratios between these two companies, and conclude the results of your finding. The limitations or problems of using accounting ratios for performance analysis should be include in your conclusion. INTRODUCTION Accounting ratio is one number that expressed in terms of another relationship between two or various figures and company that can be compared. Example it can be shown in a view from balance sheet, profit and loss account, and budgetary control system or in any accounting organization that shows relationship between accounting data. The purpose of accounting ratio is simplifies the comprehension of financial statements and condition by successful and unsuccessful firm. Other than that it also helps in the of planning, forecasting and assist management and it helps in case of investors and lending decision of bankers. The 5 aspect of business measured by accounting ratios is: Profitability that is how far the company earns profit, Liquidity is to measure the financial status, Asset management is how far the company can manage their finance, Debts management is how they manage their tax, and Market value of investment to ordinary shareholders is how they create their market value book. FORMULA THAT USED MEASURE EACH ASPECT OR AREA OF BUSINESS Profitability of company A) Gross profit markup (%) = ÃÆ'- 100 Gross profit = Sales Cost of the good / Opening stock + Purchase Closing stock B) Gross profit margin (%) = ÃÆ'- 100 Net sales value = Sales Return inwards C) Operating profit margin on sales (%) = ÃÆ'-100 D) Profit margin on sales (%) =ÃÆ'-100 = Profit after interest, after tax, after preference dividend after minority interest ÃÆ'-100 Net sales value E) Basic earning power (BEP) = ÃÆ'- 100 Total asset = Fixed assets + Current asset F) Return on Total assets = ÃÆ'- 100 = Profit after interest, after tax, after preference dividend after minority interest ÃÆ'-100 Net sales value G) Return on common equity = ÃÆ'-100 = Profit after interest, after tax, after preference dividend after minority interest ÃÆ'-100 ( Ordinary share capital + Reserves ) OR (Total assets Total liabilities) Liquidity of company A) Current ratio / Working capital ratio = B) Liquid ratio / quick ratio / acid test ratio = Asset management of company A) Inventory Turnover or Stock turnover = or B) Total Assets Turnover = Total asset = Fixed asset + current asset C) Debtor Ratio = D) Days sales outstanding = Debts management A) Debts ratio = Total Debts = Long time liabilities + Current liabilities Total asset = Fixed assets + Current asset B) Debts equity ratio = C) Times interest earned or Interest cover = Market value of investments to stockholders A) Earnings per share = = B) Price earnings ratio = C) Earnings yield = = D) Market price per book value ratio = = Inter-temporal comparisons between two periods are the comparison value that happens between years in one industry for example year 2009 and 2010. Inter-firms comparison between two companies is a different accounting policies and rules and regulation that they created like in IJM BERHAD and GAMUDA BERHAD. Comparison with industry average can measure that is happen in market value to common stockholders in every each industry. And there are two companies are selected for business performance measurement that is : IJM CORPORATION BERHAD GAMUDA BERHAD BACKGROUND ,INDUSTRY AND BUSINESS TYPE OF THE TWO COMPANY IJM CORPORATION BERHAD IJM is a Corporation Berhad is an a international competitive Malaysian conglomerate with business in construction, properties, industries, plantations and infrastructure systematic industry. Joining of three company enterprising local construction IGB Construction Sdn Bhd was incorporated in 1981, Jurutama Sdn Bhd was incorporated in 1970 as Soon Tat Construction Sdn Bhd and Mudajaya Sdn Bhd incorporated in 1965 as Chye Hin Construction Co Ltd. IJM become grown in reputation and renown internationally in excellent ways of by achieving record by numerous awards. GAMUDA BERHAD Gamuda is a Construction , building and engineering like main project on highways, airport runways, highways, railways, tunnels, water treatment plants and dams, to infrastructure privation and the development of new townships and also it is a property and infrastructure company in Malaysia. The income statements and balance sheets of the two companies information that are required for business performance and it obtain the required information from the related company financial reports via internet . FORMULA Ratio with formula (Profitability of Company) IJM Corporation Berhad Gamuda Berhad Gross Profit markup (%) = ÃÆ'- 100 = 31.16% Gross profit = Sales Cost of the good RM2455143000 RM2032167000 = RM422976000 Cost of the good sales = RM1580125000 + RM363348000 + RM8595000 + RM19973000 + RM19260000 + RM40866000 = RM2032167000 ÃÆ'- 100 = 20.81% Gross profit margin (%) = ÃÆ'- 100 = 23.76% Net sales value = Sales Return inward RM2455143000 0 =RM 2455143000 ÃÆ'- 100 = 17.23% Operating profit margin on sales (%) = ÃÆ'-100 = 18.65% ÃÆ'- 100 = 10.58% Profit margin on sales (%) = ÃÆ'-100 = 8.29% ÃÆ'- 100 = 11.43% Basic earning power(BEP)= ÃÆ'- 100 Total assets = RM6959529000 + RM5598766000 = RM12558295000 = 5.96% Total assets = RM2347737000+RM4203173000 = RM6550910000 ÃÆ'- 100 = 3.97% Return on Total assets= ÃÆ'- 100 Total assets = RM6959529000 + RM5598766000 = RM12558295000 = 2.65% Total assets = RM2347737000+RM4203173000 = RM6550910000 ÃÆ'- 100 = 4.28% Return on common equity= ÃÆ'-100 = 6.48% ÃÆ'- 100 = 8.62% Ratio with Formula (Liquidity of Company) IJM Corporation Berhad Gamuda Berhad Current Ratio= = 2.09:1 = 2.18 : 1 Acid-test ratio= Liquid asset = Current asset -inventory RM5598760000 -RM 529320000 = RM5069446000 = 1.89:1 Liquid asset = Current asset-inventory RM4203173000 RM79738000 = 4123435000 RM4123435000 RM1930241000 = 2.14 : 1 Ratio with Formula ( Assets Management of Company) IJM Corporation Berhad Gamuda Berhad Inventory Turnover = or = 5.78 times = 25.49 times Total Assets Turnover= = 0.32 times = 0.37 times Debtor Ratio= = 0.54 : 1 = 0.65 : 1 Days sales outstanding= 0.54365days = 197.1days 0.65365days = 237.25days Ratio with Formula (Debts management of company) IJM Corporation Berhad Gamuda Berhad Debts ratio= Total Debts = Long time liabilities + current Liabilities = RM3303461000 +RM112250000 = RM3415711000 Total assets = Fix asset + Current asset RM3415711000 + RM2685225000 = RM6100936000 = 0.49 : 1 Total Debts = Long time liabilities + current Liabilities = RM1312946000 + RM1930241000 = RM3243187000 Total assets = Fix asset + Current asset RM2347737000 + RM4203173000 = RM6550910000 = 0.50 : 1 Debts equity ratio= = 1.19 : 1 = 1:1 Times interest earned or Interest cover= = 3.72 times = 5.93 times Ratio with Formula (Market value of investment to stockholder of company) IJM Corporation Berhad Gamuda Berhad Earnings per share= = = RM0.25 = RM0.14 Price earnings ratio= OR = 19.2 times = 22.86 times Earnings yield= = 100 / 75 X RM 0.25 RM0.48 = 6.94% = 5.83% Market price per book value ratio= = = = 1.24 : 1 = = 1.99 : 1 The Ratio Comparison between two companies for business performance measurement under each of the bold headings Profitability of the two companies: Gross profit markup and gross profit margin for the (Gamuda Berhad) is lower than (IJM Corporation Berhad) because the ineffective and inefficient in purchasing from supplier causing higher purchase cost, ineffective use of material and labor causing higher production cost to reduce gross profit earning. For operating profit margin on sales, (Gamuda Berhad) have a lower profit earned by company from the sales made for the ineffective control on expenditures and interest cost, incurring higher operating expenses and higher interest costs to reduce the profit earning but profit margin on sales, (Gamuda Berhad) have higher profit earned by company from the sales that is made for the effective control on its expenditures and interest costs, incurring lower operating expenses and lower interest costs to increase the profit earning than the second company. Liquidity of the two companies: The current ratio is first company is higher than second company because first company has larger amount of current assets can be used to finance its current liabilities and that will indicates the company is financially stable and able to finance its short-term liabilities. For acid-test ratio, first company is also higher than the second company is because that the first company has a larger amount of liquid assets that can be used to finance its current liabilities and the company has high liquidity to finance its short-term liabilities and financially stable. Asset Management of the two companies: The inventory turnover for the first company is higher than the second company because the first company has a fast stock turnover where the goods purchased and kept in the store are fast taken out for resale so that the stock is not accumulated and money is not tied up with the stock. For total assets turnover, the first company is also higher than the second company because first company has a higher sales generated from the assets for the effective use of assets in business activities to increase the production. Other than that, the debtor ratio and DSO, the first company is higher than the second company because the company has given longer credit time to allow debtors owing and causing longer time taken by the company to collect money slowly from debtors so that larger debtor balance is collected to tie up money and bringing it to shortage of money for paying back liabilities and facing short-term financial problem. Debts Management of the two companies: The debts ratio for the first company is higher than the second company because the first company has a heavy debts burden with larger amount of debts and bearing high interest cost. Company with heavy debts burden is risky for not able to finance or not able to pay back its debts or maybe it is being forced to dispose or to sell its assets for paying back the debts. But for debts equity ratio, the first company is lower than the second company because the second company has a light debts burden with smaller amount of debts and bearing low interest. And the times interest earned for the first company is higher than the second company because it has a bearing high interest charges in relation to its available profit. Market value of investment to stockholders: Earnings per share and earnings yield for the first company is lower than the second company, this indicates that the company has lower growth in business profit and resulting lower net income available to each unit share and being less attractive and lower value to the common stockholders. Due to lower earnings per share, stockholders or shareholders have to use more times of profit earning and more times of net cash inflow and longer period to recover back their share investment. This shows the confirmation by the price earnings ratio for the first company is being higher than the second company. Market price per book value for the first company is higher than the second company, this indicates that the company share price has inequitably risen up above its real asset value or book value and being not realistic to stockholders. Conclusion In my conclusion, the first company Gamuda Berhads performance is better than the IJM corporation Berhad, and this indicated (Gamuda Berhad) has better performance, because first company has a higher rate in the 5 aspect of business that measured by accounting ratio. In information problems, the base information is out of date and analysis of accounting information, and they will only identify symptoms but not the causes and this will make the company to have information problems. For inter-firm problems, every companies have to select their industry norms and the usefulness of norms based on the averages and different company have different business and financial problems and the impact on analysis. so in this matter they have theur own way to solve their problems. QUESTION 2 Identify and discuss three different ways for transferring capital or fund from savers to borrowers in the financial market. ANSWER QUESTION 2 INTRODUCTION Financial market means it is a organization and people who be found to borrow money from those having some valuable metals to be exchanged at efficient by market price and also they refer to the stock market, wall street, even markets. In this field there are many different kind of financial market each market use different kind of matted, terms, types of parts of country and customer and the asset banking. By the ending from the any type of this helps them in business grown big and investors make money and give them a lot of profit. At the same time the trading of the stock and bonds that they get in financial market take place direct between buys and sellers and also financial market can be a good relationship by domestic or international business level in communication. There are many various of types in financial market that is physical asset markets to deal with the tangible, real and physical products such as computer, machinery, real estate and other assets the financial market deal with different types of instruments such as stocks or shares, bonds, notes, mortgagees and other claims or real assets with derivative securities whose values derived from changes in the price of other assets. Spot market refer to deals being bought or sold for on the delivery within a few days where future market refers future market deals bought or sold future delivery at some future date such six months or a year in to the future. There are some major financial markets like money markets who deals asset in short term and highly liquid debt securities in borrowing and lending with original maturities in a short periods between less than one year for example it involves like certificate of deposit, federal funds and asset-backed securities. Capital markets is who deals for securities where companies and governments can intermediate or long-term debts in a periods of one year or more than one years and also it include stock market. Montage market is a market who deals with loans on residential, commercial, industrial real estate and farmland and the federal government has confirmed that a major economic role in the mortgage loan market because real estate development is a major sector of the U.S. Economy. Consumer credit market is markets that deals with loans and autos and appliances, as well as loans for education and vacations and provide good services. Primary markets is an market which is corporations raise capital by issuing new securities or new shares like governments or public sector institutions can obtain funding the sale of a new market issue. A secondary market which is the existing and already outstanding securities or financial assets are traded among investors after they have been issued by the corporations and also called as aftermarket where have been issued securities and instruments such are bought and sold. Initial public offering (IOP) market that is firm by offering securities to the public for the first time and often often issued by smaller, younger companies seeking to expand, but can also be done by large private companies looking to become publicly traded. Private market is all about transactions that worked privately and directly between two parties without going to public by independently and also they called breakup value market. There are three different ways of transferring capital or funds from savers to borrowers in financial markets and they are following picture: TRANSFER OF CAPITAL OR FUND BETWEEN SAVERS ( MONEY LENDRE ) AND THOSE WHO NEED CAPITAL OR FUND ( BORROWERS ) 1. Direct transfer from savers to borrowers: When a corporation take place in issues and sells stocks or bonds strata way to saver without giving any financial institution so the corporation as borrower will delivers securities to savers who in turn give money to the corporation and the capital directly transfersed from savers to corporation (borrower). Business Corporation Issue corporations securities to Savers (Borrower) Receive capital or funds from (Money lender) 2. Indirect transfer from savers to borrowers though investment banking house: Investment bank is a unwritten the issues of corporations securities as a middlemen to the facilitate the issues by purchase and then resell the same corporation so that the money paid by savers for purchase. The investment bank receive money merely pass thought banking house. Issue corporations Resell corporations Securities to securities to Business Investment Savers Corporation Banking (money (Borrower) House Lender) Receive fund from Receive fund from 3. Indirect intermediately such as a bank or mutual funds from saver by issuing securities or certificate of deposit to savers. Than it used the fund collected to purchase and hold the securities as investment and the funds transferred from saver intermediary when pay money to financially exchange for receiving certificate of deposit . future than that this fund to other corporation paying money out of fun because they are safer and more liquid them mortgage and loans. Issue Corporations Issue intermediarys Securities to Securities to Business Financial Savers Corporation (Money (borrower) Intermediary Lender) Receive fund from Receive fund from Investment Banking House Can be say that organization that underwrites and distributes the upcoming new issue of latest business corporations securities to assist corporation that is fund for financial. For example, a businessperson who produces shoes may purchase a machine that automatically stitches leather that hopes in the time saved will allow for the production of more shoes and increased sales or another example investment banking house are Merrill Lynch and Morgan Stanley Dean Witter. Financial Intermediaries There are some specialized in financial firm that transfer of funds from savers to be demanders of capital or event borrower. The financial intermediaries generally huge and they gain in economies of scale in analyzing the creditworthiness of potential borrower, in processing and collecting loans, and in pooling risk and for the helping individual savers to diversity their funds investments. Following are major financial intermediaries Commercial bank is a financial intermediary which collects credit from lenders in the form of deposits and lends in the form of loans holds deposits for individuals and businesses in the form of checking and savings accounts and certificates of deposit of varying maturities while a issues loans in the form of personal and business loans as well as mortgages and also they handled checking accounts and thought which is Federal Reserve System expended or contracted the money supply. They also provides an ever-widening service, stock brokerage service and insurance and they are different from investment bank they lend out money to borrows and investment banks assist business corporation to raise capital or fund from savers. Saving and loan association is a specializes in accepting savings deposits and making mortgage and other loan like collect funds from many small savers and lend out the money to house buyers and other kind of borrowers and it more significant economic function of the saving and loan association to create liquidity in capital markets. Mutual saving funds is a savings that has no stockholders and reinvests all profits in itself and the savings banks are owned their depositors and borrowers because there are no stockholders to please, mutual savings banks are often very conservative with how they invest deposits. Credit unions is a non-profit financial institution that owned and operated entirely by members and also it provide financial services for their members, including savings and lending. In large organizations and companies may organize credit unions for their members and employees, respectively. They are often the chepast source of funds available to individual to borrowers. Pension funds is a retirement plans funded by corporation or government agencies for their workers and administered by trust departments of commercial banks or by life insurance companies. It also a funds invest primarily in bonds, stocks, mortgages and real estate. Life insurance companies is a collect saving that form or annual premiums and invest in stocks, bonds, real estate and montage, finally make payments to the beneficiaries of the insured parties. It also have many kind of tax deferred saving plans to provide benefits to the participants when they retire. Mutual funds collect money from savers and use to buy stocks, long-term bonds and short-term debt instruments that issued by government or business units and thus reduce risk by investment diversification, achieve economies of scale in analyzing securities, managing portfolios, buy and selling securities. They also designed to meet objective in different types of savers and they used as interest bearing checking account such as money market funds.