The vast branch of Corporate Finance available to a business - Free Essay Example

Sample details Pages: 10 Words: 2999 Downloads: 3 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? Corporate Finance is a vast branch business management, which deals with the management of funds and capital arrangement. Corporative Finance as an immensely lucrative aspect that deals with helping business organizations manage money for various ventures, managing their assets, acquire other firms and make a robust financial planning for the future (Beaney, S., 2005.). It may have varied aspects though in course of business, depending upon place to place as per the finance faculty of the economy. Don’t waste time! Our writers will create an original "The vast branch of Corporate Finance available to a business" essay for you Create order For instance, Shaun Beaney, from ICAEW (United Kingdom) , describes corporate finance to be, associated in the UK with some degree of change of ownership in a business, connected to a corporate transaction that leads to the creation of a new equity structure or shareholder base, and the related issue, underwriting, purchase or exchange of equity (and related warrants) or debt (Beaney, S., 2005.). {Learning outcome 1} There are various principles to be considered while dealing with corporate finance. There are ample of decision making tasks that need to be dealt with. These may range from capital investment planning and decision, working capital decisions and management, financial risk strategic planning and its implementation (risk management), etc. The capital investment planning and decision further includes project valuation, flexibility valuation, identifying and categorizing uncertainties etc. there is immense requirement of an element to maximize the firm value. This may be served as a basic principle for corporate finance. The idea further expands as follows: The investment decision-making: The business organizations must realize that the investment grounds should qualify the question of giving returns which are greater than the minimum acceptable hurdle rate. Further, the hurdle rate should be higher for risk projects, and reflect the financing; whereas, the returns time weighed, cash flow based, incremental in nature and should reflect all side costs and benefits (Anon., n.d.). The financing decision making: The organizations must opt for a financing plan which can maximize the project value and match the assets being financed. Further, the financing mix must include both debt and equity and can influence the cash flow. (Anon., n.d.) The dividend decision making: The organization must come up with strict plans concerning dividends, in order to have satisfied investors and hence encourage further investments.. The basic idea should be that all investments must be cashed back to the owners if there are not enough investments that earn the hurdle rate. These are some of the basic principles and ideas that are important regarding the understanding and conceptual working know how of corporate finance. I, in an attempt to demonstrate the practical working of corporate finance, present the following report. In this report, I assume to be working as a corporate financier for the Wonderland Confectionaries Inc., who is working with his team to define structures of financial planning and analyze them for the new theme park venture that the organization plans to start. Finally we evaluate from the report, whether or not Wonderland Confectionaries Inc should undertake the investment in the proposed theme park. Qualitative Financial Analysis of the New Project {Learning Outcome 2 3} Wonderland has been a successful business leader in food and catering industry for a long period. The idea of coming up with an adventure- cum- theme park sounds thrilling, yet the outcomes may be unsatisfying or maybe financially dire, if the organization does not pay the required attention to all the aspects, be it terms of financial, social or management matters. We attempt to analyze the organizations proposal by predicting the outcomes after a comprehensive research of the organizations assets and by a comparison with the organizations closest competitor in theme park business -Alice Limited. Available sources of finance The organization must study all the alternative sources available which can fund the project and fill up the capital gap. Following may be the options available for the organization to finance the proposed business plan: Use of retained profit: The organization has a successful chain of restaurants with huge number of customers and a giant sum of turnover. The parallel business profit may be the most reliable and safe source of investment. Selling shares: this can be one of the most lucrative long term financial sources. The organization has a name in hospitality business and can flourish really well in the sister stream (i.e. the theme park business).This assurance and faith may attract healthy investments by adjoining shareholders. Bank loans: the organization m ay think of applying for bank loans besides the above mentioned options. With an impressive plan layout portfolio and affirmative risk management strategies and backups, the banks can lend the organization, an im pressive amount of loans. Generating increasing sales: with an increase in revenue such as service taxes, in the prevailing industries up to optimum levels, the organization can transfer profit benefit to the growing business. Organic Growth: this idea reflects the business to self fund. Although the idea may not be valid for the initial stages of the business, but is evidentially the most expansive financial source among all in later stages, in context of flourishing the business. {Learning Outcome 4} Assessment of economic worth of the primary finance options Now, that we have identified the prime and major sources of financial options available for Wonderland Confectionaries Ltd, we must assess the economic worth of each of these by understanding all the possible consequences of accessing these options: (Anon., n.d.) Use of retained profit: this factor must be given the highest rating among all the other factors that have been identified. This factor requires no payback. This makes it the most impressive option. Since Wonderland is a well established business enterprise serving millions of customers, the investments can be considerable enough. Hence, the net economic worth of this option is influential enough to be counted on the positive side. Selling shares: selling of shares is an essential and a vital source. It is a long term financial source, which shall be agreed on terms of sharing both, the profit as well as losses of the business. This guarantees minimal payback risk. Because of its reputation, the organizations new ven ture may attract huge investments through share-sales. Hence, this factor again is economically worth standing on the positive side for the new business project. Bank loans: this is an essential source that must be considered in order to get a large proportion of the business capital that is required. Although, there are payback risk factors. The organization, if , fails to successfully implement its business plan, or due to any hindrance, if the business plan fails, it may be a huge financial loss for the organization and may also ruin the social reputation. Although, through its vast experience in business, the enterprise has fair chances of implementing the business plan successfully. Also, through its bright reputation, getting bank loans for a new project could be easily manageable. Generating increasing sales value: this is another lucrative source of finance. But this may bring down the number of existing customers for the organization in the existing sectors. So it has less fairer economic benefit than the other options. Organic growth: growing the business is a desire for the organization. The organization will always tend to work towards expanding profit margins and sales. This, although cannot act as a funding source in the initial phase of the business, but can act as a tremendous source if the organization utilizes its profit returns in a right manner by maintaining their reserve. This, again is another beneficial economic aspect. Through the analysis carried out in the above section, we can support the Wonderland groups initiative to start the proposed business venture. Ahead, in this report, we browse some more aspects and dimensions concerned with the project in terms of corporate finance. {Learning outcome 5} Management of corporate finance The main objective of corporate finance system, as discussed previously is to maximize the value of the firm. An effective management corporate finance, involves comprehensive strategic planning and decision making processes to assign appropriate resources and hence achieve the main objective. The following fields of decision making are primary in this regard: Capital budgeting: this is used as a tool to assess what amount is to be invested on which resource by analyzing the worth of the investment, returns to be gained and considering the risk factors. The several aspects related to capital budgeting may range from net present value, modified internal rate of return, accounting rate of return, profitability index, equivalent annuity, etc. Financing: this aspect deals with a thorough analysis followed by a decision to decide whether a debt or equity fund may be invested in a particular project. The tendency is always inclined to maximize the value of the firm. Dividend Management: the financial managers must work on a well framed set of policies that govern the dividend returns to the shareholders. They must design appropriate and effective prediction schemes that can identify the cash overflow. Instead of unnecessary investments, the profit returns must be distributed among the shareholders as dividends. This will ensure healthy and continuous investment and increase the pool of shareholders, which will always strengthen the financial aspects. {Learning Outcome 6} Practical weightage of the theory We have seen different aspects of corporate finance in the previous sections of this report. The big question that pops up is whether or not these theoretical aspects are valid in the practical scenario. This is indeed a point to be pondered on. If we take a better look, theres no substantial guarantee that we can provide to support the theoretical aspects. The following points raise the concern: There have been incredible and unpredictable fiscal transformations taking around lately. For instance, the global fiscal crisis of 2001 and most lately the recent 2007 credit catastrophe, that shook almost the entire global economic world. This raises a concern for the validity of strategies, theories and policies that may be implemented to get the desired outcomes. Even a slight deviation from the implemented rules and regulations can cause stress for the organization and the new business project. These deviations may or may not be in hands of the authorities and management that mo nitors would monitor the implementation of the business plan. Yet, to stand against these concerns, there apparently are factors that may bring the weighing beam back to the central position: These theories have been developed and accepted by experts, belonging to this field (with great experiences), all over the world. These have been a standard practice in the field of corporate finance by numerous business organizations, old or ne, trying to set up new ventures or start new business projects. Hence, there is a little chance that these theories can betray the predicted outcomes. As per evidential records, which are countless in numbers, if an organization keeps a constant monitoring over the strategic plan implementation process and utilize the flexibilities therein appropriately, there are a little chances that any big time credit failure or economic collapse can hinder the prospects of success. Also, if the corporate financial management is experienced( which in case of Wonderland Confectionaries Ltd indeed is), one may claim the corporate finance theory a foolproof device for well and organized management of financial assets of the organization. Following the above discussion, our conclusion stays unbiased and neutral over the issue. Yet, the fast is that if the organization has a rigid vision to start work over the proposed project, it should protect its vision and work for it, making sure that there is minimal or no room for error. We see in the coming section how quantitavely valid are the chances for the organizations new project to succeed and meet all the demands. {Learning Outcome 7} Approaches to analyze corporate finance structures In this section, we will try to look into the analytical and quantitave aspects of the scenario and the financial assets and options available. We discuss the most basic approach to analyze corporate finance structures: {Requirement 1} Calculation of Net Present value (NPV) NPV is a method used in corporate finance to evaluate a rough figure representing a minimum gross return that an enterprise may get back after its investment in a new business project or venture. In a broad aspect, we may conclude that the calculation of NPV enables an organization to make a rough judgment over whether starting a new project will be beneficial or not. The NPV value is calculated by basic finance principles. If the calculated NVP value is greater than 0, then the business venture is considered worth investing in. But, if the NVP value sums up below 0 (i.e. negative), then it the venture is not worth the investment. We use this basic principle and the fact sheet that we gathered through our research about Wonderland Inc., to evaluate the NVP and hence predict roughly if the venture is worth the investment or not. From the firms investment manual, we have a set of predicted data. Net money to be invested, initially in construction of the theme park = GBP 500, 000,000. Let us assume a required rate of return to be 15% . We now calculate a net return (roughly, excluding the tax factors, etc.), as predicted in the investment manual. The firm expects 20,000 visitors per day for first five years, out of which 70% visitors would be children (fee charged = GBP 15) and 30% adults (fee charged = GBP 25.) Now, the calculated earning per day = GBP.(150,000 + 210,000) = GBP.360,000. So, net return after 5 years = GBP.(360,000 * 365*5) = GBP.657,000,000 Now, we evaluate the value of this return amount after 5 years from now, in the present date by using the present value table (valid for UK). For an ROR (required rate of return) of 15%, after 5 years, the interest factor in the interest table is 0.870 (Anon., n.d.) So present value of the return = GBP.(657,000,000 * 0.870) = GBP.571,590,000 Thus, NPV = GBP.(571,590,000 500,000,000) = GBP. 71,590,000 Clearly, NPV 0 In this calculation, we have considered only the capital required for construction purposes and have excluded the returns coming from all other entertainment fields except for the entry fee to the theme park. This calculation roughly states that after 5 years, the projected NVP is greater than 0. Hence as per the principles of study of NVP, it is safe and sound for the Wonderland Confectionaries Ltd., to start the proposed venture (Auerbach, R., n.d.) {Learning outcome 8} {Requirement 2} Suggestions for the Management of new project In this section, we make an attempt to offer some suggestions, both in terms of financial as well as non financial matters, which may be considered by the organization and management before starting the proposed venture. The suggestions we wish to offer are presented in the following points: The management and organization must identify all the practical financial sources and conduct a thorough study of the possible consequences and circumstances that may arise in course of progress of the implementation of the new venture. All the areas, social, public, financial, economical, etc., must be thoroughly researched and analyzed and the risk factors must be identified in order to plan all possible backups in case of unpredictable circumstances. The financial management teams must study all aspects of cash inflow and outflow to conduct a comprehensive analysis and forecast of the business situations that may arise. This must be inclusive of all factors such as corporate tax rat e, bank loan interest rates, insurance premiums, etc. The organization must take healthy but sensible competition with the closest identified rival Alice Limited. The organization, as primary and initial targets, must try to match and further, overtake the turnover figures achieved by the rivals, annually. This competitive environment and growth can affect the companys growth in an immensely elevating manner. {Requirement 3} Real time options for theme park project appraisal A report always tends to provide the reader with idealized theories, which may hold lesser relevance in practical life situations. The project appraisal, if taken closely, insists on discussing some real time possible events and strategies to be taken in some unwanted, unpredicted and uncontrollable conditions. Some major options have been discussed below. Abandonement: The very idea of abandonment was popularized by Peter Drucker. The basic idea revolves around the fact that there is no point wasting resources, energy and time on a project, if for a projected period of time, there are no desired outcomes. This assessment of projection and prediction must be done by the managers of the business organization. the Wonderland Co. are working on a big time investment project which may or may not give desired returns to the huge investment that may be put in. The organization must keep track of all events, compare the desired business outcomes with the actual ones and decide if the p roject is worth working on at every state on point until the targeted period. Expansion: This aspect again is of great concern. Once the business comes under profit, it will again not be a wise use of resources and reserves, if expansion possibilities are not explored. There must be constant attempts for exploration of all possibilities of expansion. The process again, must be carried out in a very flawless manner, ensuring to not harm the already safe business. Flexibilities: There must always be flexibility options in the project which could be accessible in times of over expenditure of assets, time, resources, etc. This can enhance the efficiency of the business and imparts profitability. The implemented strategies, while being planned, must be made flexible to accommodate new edited feature, when required. This may help to not reject the entire implementation system and make alternative changes, wherever and whenever required. Selling: Project selling is a process of po sitioning. It must be exercised when and wherever required by the fair involvement of both, the project manager as well as the team members. Conclusion: Wonderland Confectionaries Limited, being a successful business organization in the field of food and catering services, can indeed claim to come up with a successful implementation of the new business proposal. The theme park setup venture proposal can produce huge profits for the enterprise if all the aspects regarding corporate finance, strategic planning and implementation, risk management, etc., are comprehensively assessed.

Stigma of Tattoos in Modern Times Essay - 1906 Words

Modern Times Stigma: As a tattooed person, I can attest that stigma and prejudice are still alive and well in the new millennium, even in a liberal outpost like Massachusetts. Whether its a stare, look, comment or something more serious, like denial of service or hassling from law enforcement, cultural stigma is still a factor for those seeking tattoos. Much of this is clearly rooted in the history of tattooing in the U.S. (see below) but there are other possible sources for these attitudes as well. An interesting article in Skin Art Magazine by Kyle Burkett proposes another possible cultural root to the American and European stigma associated with tattooing that is today being challenged in a broad way. Burkett states that for†¦show more content†¦It is no coincidence that many of these cultures used tattooing. The Greek and Roman view of their own cultural supremacy only served to reinforce the idea that these tattooed cultures were less significant than their own, and thus their views and practices were much easier to denegrate. These associations were also supported to some degree in religious texts. In Judaism, there is actually a Biblical passage specifically prohibiting marks on the body. Leviticus 19:28 states that: Ye shall not make any cuttings on your flesh for the dead, nor print any marks upon you. In all probibility, this passage does not actually refer to tattoos, but it serves only to strengthen the view that tattoos are sacrilegious among Christians and Jews. The intent behind the passage was probably directed at the Jews neighbors, the Arabs, who routinely made marks on their body to show reverence for their own pagan gods, which was considered idolatry. The Jewish view of tattooing- and the Arab view of tattooing, as culturally significant and positive- show not only conflict in an ancient era, but the roots of what would become a longstanding cultural conflict, and basis for discrimination in future centuries, up to this very day. The Impact of the Modern Tattoo Machine: With the advent of the modern tattoo machine the process of tattooing became faster and simpler,Show MoreRelatedWhat Determines The Perception Of Tattoos?1443 Words   |  6 Pages What determines the perception of tattoos? University of Hawaii at Manoa Cole Dante Introduction College students walk amongst each other every day, eyes wandering and constantly comparing each other. Comparing the physical appearances, attire, and how they carry themselves. A main trend that has become popular over the years are tattoos. 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Ebp Evidence Based Practiced Free Essays

Running head: EVIDENCE BASED PRACTICE1 Evidence Based Practice San K. So Nevada State College EVIDENCE BASED PRACTICE2 Abstract Evidence based practice is an important aspect of nursing and many other disciplines. It is needed to build upon and/or modify current practices. We will write a custom essay sample on Ebp Evidence Based Practiced or any similar topic only for you Order Now Evidence based practice has made hospitals and medical facilities nationwide use policies and procedures that closely match the guidelines suggested by certain research. For example, the use of foley catheters and the regulations for the use has been greatly modified due to research based data. The guidelines are used to prevent catheter-associated urinary tract infections. Evidence based practice also has influenced the use of certain treatments for premature babies and how nursing orientation is done. This article will touch upon many aspects that research and evidence based data has changed and/or improved, so patient care is maintained safely and effectively. Keywords: EBP (evidence based practice), CAUTI (catheter-associated urinary tract infections), JACHO (The Joint Commission), WHO (World Health Organization). SBAR (The Situation, Background, Assessment, and Recommendation) bronchopulmonary dysplasia (BPD). EVIDENCE BASED PRACTICE 3 Evidence based practice (EBP) is an approach to healthcare wherein health professionals use the best evidence possible to make clinical decisions (Blais and Hayes, 2011). It involves complex and conscientious decision-making based not only on the available evidence but also on patient characteristics, situations, and preferences. Evidence based practice involves many steps along the way and have influence hospital policies and procedures. For example, the use and maintenance of in-dwelling foley catheters has been research upon and new practices are suggested. The new research and data had many purposes, like increase patient safety; decrease catheter-associated urinary tract infections, and how nursing will maintain the catheters. In this paper we will examine the use of evidence-based practice in regards to catheter-associated urinary tract infections. In the hospital, there are appropriate indications for indwelling urethral catheter and if those indications are not present then the physician needs to prescribe alternative methods of urinary drainage. Some indications per hospital policy is patient requiring prolong immobilization, perioperative use for urologic surgery, anticipated prolong surgery and the need to monitor urine output during surgery, critically ill patients that require strict input and output monitoring, patients with urinary retention and to improve comfort at end of life care. Indwelling catheters are not to be used for convenience for the medical staff. Once an indwelling catheter is indicated, then there are guidelines to maintaining the catheter. Sterile technique needs to be use while inserting the catheter to prevent infection. EVIDENCE BASED PRACTICE 4 As per policy nursing staff need to perform catheter care at least once a shift and as needed. The continuation reassessment of the indication needs to be done also. The catheter needs to be secured to the patient and the collection bag needs to be lower than bladder level. The collecting tube needs to be free of kinks and dependent loops. The collection bag should be emptied routinely. If the catheter has been in for three days or longer, the nurse should provide daily reminders to the physician recommending the removal of the foley catheter, unless it is still indicated. The nursing staff and medical team need to provide education to the patient and the family during the duration of the catheter. These guidelines closely match the recommendations noted on the National Guideline Clearinghouse website. The hospital nursing staff tries to follow these guidelines closely. Our hospital has a self-made monitoring sheet that helps the nurse and the charge nurse to monitor the indwelling catheter and ensure daily care and reassessments are done. The sheet allows the charge nurse and on-coming nursing staff to closely monitor if the patient is at risk for CAUTI. If a patient does develop a fever and has an indwelling catheter, then urine samples are obtain to rule out infection related to the catheter. The guidelines closely match our current hospital policy, but re-analyzing the guideline would help fine tune many other aspects of the policy (Allen and Donohue and Gilmore, 2010). Along with Guideline for prevention of catheter-associated urinary tract infections, I also use other evidence-based techniques in my practice as a pediatric nurse. EBP shapes how we give report at the end of the shift. The Situation, Background, Assessment and Recommendation communication was developed from research, like the EVIDENCE BASED PRACTICE 5 one done in a northern Arizona hospital on the pediatrics/perinatal service department. The research was explained in the article, Collaborative Communication: Integrating SBAR to Improve Quality/Patient Safety Outcomes. Cynthia Beckett and Gayle Kipnis wrote the article explaining the importance and research supporting the use of SBAR during hand-off communication. This study surveyed nursing staff and physicians during and after the research. The integration of SBAR format helped this study achieve their two goals: increase effective communication and improvement of staff and patient satisfaction in care. As with the article, SBAR has made hand off communication to other nurses, physicians, and other discipline staff effective. The SBAR format paints a better picture of how the patient is doing and what is his current status. It also helps with further educating the staff. For example, when I am receiving report from a seasoned nurse and she recommends certain interventions, I am able to ask the needed questions to understand her recommendations; it provides an opportunity for a new nurse to learn the reasons behind certain interventions. EBP can be also applied to certain treatments over others. An example of such application is inhaled nitric oxide in preterm infants. A study done at John Hopkins University Evidence-based Practice Center in 2010 was an attempt to review the evidence on the use of nitric oxide on infants born at or before thirty-four weeks gestation age and need to receive respiratory support. Treatment for acute respiratory failure usually contributes to the development of bronchopulmonary dysplasia (BPD) or pulmonary hypertension. The purpose of this evidence report is to address if nitric oxide increase survival and/or reduce the occurrence of brochopulmonary dysplasia, are there short term EVIDENCE BASED PRACTICE 6 r long term risk in the therapy and if the effects of inhaled nitric oxide therapy on BPD. The data collected and information was based on medical research, like certain clinical trials and other researches on Medline, EMBASE, the Cochrane Central Register of Controlled Studies, and PsycInfo databases. The information extracted from these databases range from 2009 to 2010. The data collected was analyzed and the appl ied to the questions listed above. The results show that infants treated with nitric oxide did not decrease or increase the mortality rate in infants in the neonatal intensive care. There is inconclusive data regarding the short and long-term effects of inhaled nitric oxide. The research report does indicate there is no evidence that supports the use of inhaled nitric oxide in preterm infants with BPD. This research report is significant for nursing because it provides further education of the nursing staff. If a nurse is well versed in current treatment and their effectiveness, then they can assist the care for the patient along with the physicians and respiratory therapist (Beckett and KIpnis, 2009). Another aspect of nursing that EBP can be applied, is on management level. We discussed how it is applied on skills and treatments, but now we are going to see how EBP can improve the management of the nursing profession. In What Is the Latest Evidence on Nursing Orientation, written by Mary Krugman, the author examines the idea of nursing orientation. Is there a magic number of hours that is most effective to convey information to the new hires and also keep the cost for the hospital within reasonable limits. The article reviewed literature on this topic written in the past five years, spanning from 2006 to 2011. They selected twenty-nine articles to review. The selected articles they were organized and summarized by graduate nurse orientation and EVIDENCE BASED PRACTICE 7 general orientation. The results showed that there was a gap in the general orientation versus graduate nurse orientation. There are many suggestion that professional development specialist should modify the traditional way of framing an orientation. There are studies that suggest that critical care nurse orientation should be provided to all levels of nursing. It becomes hard to challenge and keep the new hire engaged when all hospital orientation go over the same nursing concepts. The research implies that one must know your audience and modify the orientation as the day progresses. This article was not a study, but an implementation project. The ideas in the article would help the management and education team redesign how they orientate new hires. Sitting in a room and watching videos may not be the most effective way to organize nursing orientation. Integrating more hands on during orientation would better prepare new hires and new graduate nurses with the transition to the career. This idea would help make my hospital orientation become more interesting and engaging. The traditional way of orientation lack hands on and physically being on the unit. This would not really cost more than the classroom form of orientation. EVIDENCE BASED PRACTICE 8 Summary Implementing evidence-based practice is a vital part of nursing and other professions. The application of the data from research and data collect help improve and modify all nursing aspects. It can shape certain practices done in the clinical setting, like how we maintain central venous lines, how we prevent catheter acquired urinary tract infections and as basic as hand hygiene. EBP also influence treatment options. Clinical data and or trials help provide new information on standard of care compared to new innovative treatment, as seen in the use of nitric oxide in preterm infants. We are able to compare the effectiveness treatment options to better serve the patient. EBP can also be used to improve nursing management. EVIDENCE BASED PRACTICE 9 References Allen MC, Donohue P, Gilmore M, et al. Inhaled Nitric Oxide in Preterm Infants. Rockville (MD): Agency for Healthcare Research and Quality; 2010 Oct. Evidence Reports/Technology Assessments, No. 195. ) Available from: http://www. ncbi. nlm. nih. gov/books/NBK56325/ Beckett, C. , Kipnis, G. , (2009). Collaborative Communication: Integrating SBAR to Improve Quality/Patient Safety Outcomes. Journal for Healthcare Quaility. 5(31), 19-28. Blais, K. , Hayes, J. S. (2011). Professional nursing practice, concepts and perspectives. (6 ed. , p. 184-185). Upper Saddle River, NJ: Pearson. Krugman, M. , (2011). What is the latest evidence on nursing orientation. Journal For Nurses in Staff Development. 27(6). 310-312. How to cite Ebp Evidence Based Practiced, Papers

Barilla Essay Research Paper Barilla SpA AGiorgio free essay sample

Barilla Essay, Research Paper Barilla SpA ( A ) Giorgio Maggiali was going progressively frustrated. As manager of Logistics for the universe # 8217 ; s largest pasta manufacturer, Barilla SpA, he was acutely cognizant of the turning load that demand fluctuations imposed on the company # 8217 ; s fabrication and distribution system. Since his assignment in 1988 as Director of Logistics, he had been seeking to do headroom on an advanced thought proposed by Brando Vitali, who had served as Barilla # 8217 ; s manager of Logistics before Maggiali. The thought, which Vitali called Just-in-Time Distribution ( JITD ) , was modeled after the popular # 8220 ; Just-In-Time # 8221 ; fabricating construct. In kernel, Vitali proposed that, instead than follow the traditional pattern of presenting merchandise to Barilla # 8217 ; s distributers on the footing of whatever orders those distributers placed with the company, Barilla # 8217 ; s ain logistics organisation would alternatively stipulate the # 8220 ; appropriate # 8221 ; bringin g quantities-those that would more efficaciously fitting end consumer # 8217 ; s needs yet would besides more equally administer the work load on Barilla # 8217 ; s fabrication and logistics systems. For two old ages Maggiali, a strong protagonist of Vitali # 8217 ; s proposal, had tried to implement the thought, but now, in the spring of 1990, small advancement had been made. It seemed that Barilla # 8217 ; s clients were merely unwilling to give up their authorization to put orders as they pleased ; some were even loath to supply the elaborate gross revenues informations upon which Barilla could do bringing determinations and better its demand prognosiss. Possibly more disconcerting was the internal opposition from Barilla # 8217 ; s ain gross revenues and selling organisations, which saw the construct as impracticable or unsafe, or both. Possibly it was clip to fling the thought as merely impracticable. If non, how might he increase the opportunities that the thought would be accepted? Company Background Barilla was founded in 1875 when Pietro Barilla opened a little store in Parma, Italy on via Vittorio Emanuele. Bordering the store was the little # 8220 ; research lab # 8221 ; Pietro used to do the pasta and staff of life merchandises he sold in his shop. Pietro # 8217 ; s boy Ricardo led the company through a important period of growing, and in the 1940s, passed the company to his ain boies, Pietro and Gianni. Over clip, Barilla evolved from its modest beginnings into a big, vertically incorporate corporation with flour nothings, pasta workss, and bakery-product mills located throughout Italy. SPA ( Societa per Azioni ) can be translated as # 8220 ; Society for Stockholders # 8221 ; and interpreted as In a crowded field of over 2,000 Italian pasta makers, Pietro and Gianni Barilla differentiated their company with a high quality merchandise supported by advanced selling plans. Barilla revolutionized the Italian pasta industry # 8217 ; s selling patterns by making a strong trade name name and image for its pasta, selling pasta in a certain -cardboard box with a recognizable colour form, instead than in majority, and puting in large-scale advertisement plans. In 1968, to back up the double-digit gross revenues growing the company experienced during the 1960s, Pietro and Gianni Barilla began building of a 1.25 million square metre state-of-the art pasta works in Pedrignano, a rural town 5 kilometer outside of Parma. The cost of this monolithic facility-the largest and most technologically advanced pasta works in the world-drove the Barillas deeply into debt. In 1971, they sold the company to the American multi-national house W. R. Grace, Inc. Grace brought extra capital investing and professional direction patterns to the company and launched an of import new Mulino Bianco ( # 8220 ; White Mill # 8221 ; ) line of bakeshop merchandises. Throughout the 1970s, confronting hard economic conditions -and new Italian statute law that both capped retail pasta monetary values and increased cost-of-living allowances for employees, Grace struggled to do its Barilla acquisition wage off. In 1979, Grace sold the company back to Pietro Barilla, who by so had secured the # 8216 ; necessary financess to buy it. The capital investings and organisational alterations that Grace had brought to Barilla, combined with bettering market conditions, helped Pietro Barilla launch a successful return to the company. During 1980s, Barilla enjoyed an one-year growing rate of over 21 % ( see Exhibit 1 ) . Growth was realized through enlargement of bing concerns, both in Italy and other European states, every bit good as through acquisition of new, related concerns. In 1990, Barilla was the largest pasta maker in the universe, doing 35 % of all pasta sold in Italy and 229/6 of all pasta sold in Europe. Barilla # 8217 ; s portion in Italy comprised its three trade names: the traditional Barilla trade name represented 32 % of the market, the staying 3 % of market portion was divided between its Voiello trade name ( a traditional Neapolitan pasta viing in the costly section of the semolina pasta market ) and its Braibanti trade name ( a high-quality, traditional Parmesan pasta made from eggs and semolina ) . About half of Barilla # 8217 ; s pasta was sold in northern Italy and half in the South, where Barilla held a smaller portion of the market than in the North but where the market was larger. In add-on, Barilla held a 29 % portion of the Italian bakery-products market. In 1990, Barilla was organized into seven divisions: three pasta divisions ( Barilla, Voiello, and Braibanti ) the Bakery Products Division ( fabricating medium to hanker shelf-life bakeshop merchandises ) , the Fresh Bread Division ( fabricating really short shelf-life bakeshop merchandises ) , the Catering Division ( administering bars and frozen crescent rolls to bars and pastry stores ) , and the International Division. ( Exhibits 2 and 3 show the organisational construction of -the company. ) Corporate central offices were located next to the Pedrignano pasta works

The advantages and disadvantages of organic farming free essay sample

The advantages and disadvantages of organic farming. In spite of organic farming’s unfortunate aspects, the number of farmers using this method is increasing due to its advantages. Such method of farming is of considerable benefit in the way that the issue of soil management can be effectively addressed. With organic farming, soil quality are maintained and fostered, which creates the best opportunity for farmers to take full advantage of soil for years. A further good point of this method is providing customers better products with higher nutritional content. For details, the products are poison free, more nutritious and tastier than normal ones due to farmers’ using less pesticide, fungicide, and herbicide. As the process of using organic cultivation is non – toxic and chemical free, this method is environment – friendly, which is another of its many plus points. Along with the merits, there are certain drawbacks when using organic farming. The first potential one is creating a lower overall ratio of production. We will write a custom essay sample on The advantages and disadvantages of organic farming or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Compared to conventional farming, organic farming gives farmers lower yields because some chemical fertilizers have better potential in pushing up the growing progress of organisms. Neither does organic farming artificially grow any crop nor does this farming method dwindle the growing period. Fifteen week, for instance, is the period of time farmers using organic cultivation have to wait to harvest a tomato crop while conventional farming method will decrease the time to ten weeks only. In conclusion, after weighing the pros and cons of organic farming, this method brings more benefits than disadvantages to its users.

Definition of Collective Noun

Definition of Collective Noun Definition: A singular noun that stands for a group of things or beings. In both English and Spanish, collective nouns are commonly used when referring to groups of animals, such as a flock of sheep (un rebaà ±o de ovejas) and a school of fish (un banco de peces). But they are also used in many other contexts as well. It is common to follow a collective noun with the preposition of (de in Spanish) and a plural noun, as in the two examples above, but it is not necessary, especially when the meaning is clear from the context. In standard English, collective nouns, when the subject of a sentence, are typically used with a singular verb: The class of students studies hard. In Spanish, a verb that immediately follows a collective noun is singular: La gente tiene mucho dinero. (The people have a lot of money. Note that this is an example of a Spanish singular noun that normally requires a plural translation in English.) But when there is a plural noun between the collective noun and verb, either a singular or plural verb can be used in everyday speech and writing, with the plural verb probably being more common. Thus you might hear both La bandada de pjaros se acercà ³ (The flock of birds approached, singular verb) and La bandada de pjaros se acercarà ³n (The flock of birds approached, plural verb), with no appreciable difference in meaning. Also known as: Nombre colectivo in Spanish. Examples: group of people (grupo de personas), team (equipo), a score of years (una veintena de aà ±os), den of lions (guarida de leones)

Differentiates Between Sex and Gender Term Paper

Differentiates Between Sex and Gender - Term Paper Example The researcher states that gender role stereotypes in modern society are more constraining for females, but in certain ways, they are also constraining for males. For example, women are expected to be nurturers, expressive about their feelings and readily show emotion, whereas men are expected to take charge, be strong and think logically. The researcher would argue that this role differentiates dates all the way back to early hunter/gatherer societies, when men had to go out to find animals to kill for food and clothing, leaving the women behind to look after the children and perform other domestic chores. Finally, while most people belong to either the male or female sex, transsexuals have the organs of both sexes. This, plus the fact that they may identify themselves as more male than female or vice versa, may cause them great anxiety and confusion in a society which expects everyone to adopt wither male or female gender roles. This article states that in the past 30 years gender roles have been less specialized. This has made it incumbent on men to perform at least some of the traditionally female domestic chores. The article also discusses an interesting research finding that same-sex couples tend to have better relationships with their gender-neutral roles than traditional opposite-sex couples with strongly differentiated male and female roles since they incorporate both perspectives and therefore can better understand their partners’ needs. This source describes an anecdote involving President Coolidge and is therefore called The Coolidge Effect. Space does not permit detailing the story, but the idea behind it is that men want more sex partners than women do. The article describes 2 theories behind this assertion. 1) men prefer sex with strange women and 2) this is sexist claptrap. While there is some truth to both allegations, I feel the second more accurately describes the current situation. The evidence for this is the swinging lifestyle. Men wanting sexual variety often will persuade their wives to join, but once in it is usually the women who embrace it more. When it comes to sex women are the physically stronger sex because they don’t have a refractory (or recovery) period before they can have intercourse again.

Leadership Essay Example | Topics and Well Written Essays - 1000 words - 5

Leadership - Essay Example A person’s beliefs, values, character, and ethics play a big role in determining what kind of a leader they will be. Today, we experience both good and bad leadership in different situations. Bad leadership is harmful to the society in many ways, therefore, should be avoided. Good leadership is what the society should adopt, as this is beneficial in many ways. This essay will therefore, address the concept of good leadership, and some of the steps one must follow to ensure good leadership. Knowledge and skills contribute to the leadership process. However, personal attributes such as values, and character, are the ones that make a leader to stand out among all the others. For instance, in order for one to practise good leadership, they must be impartial. This enhances trust and credibility of the leader by the people. These are aspects that are earned by the leader, and do not merely come with the position. However, if a leader acts ethically and professionally, they will be a ble to win trust of the people. Impartiality mainly refers to the treatment of everyone in an equal manner, devoid of favouritism. This improves relationships between the leader and the people, since the people will be sure that their leader does not have hidden outcomes in their position, neither will they question motivation. In this case, a leader must therefore, apply equal standards to all people and perform unbiased evaluation. Good leadership requires strong confidence. A good leader must therefore, be confident in themselves. Confidence includes a leader having an honest understanding of who they are, their skills and knowledge, as well as their capabilities. This is the first step of confidence on the leader’s side. Similarly, the people must have strong confidence in their leader, as this will prove that the leader is effective. The people judge and determine the effectiveness of their leaders. Therefore, if people do not trust their leader or lack confidence in the m, this means the leader is poor. Therefore, a good leader must work toward building their confidence, as well as the confidence of the people they lead. This is because; one must prove to people that they are capable of good leadership. For good leadership, a person must be capable of learning from their mistakes. Normally, it is always hard for people to accept their mistakes and take lessons from them. However, as a leader, one must be ready to accept their mistakes and learn lessons from them. This is an important step in learning, growing, and improving in the leadership position. A good leader must therefore, not blame their mistakes on the people, but admit them, as this is known to accelerate immense progress. If a leader made a few failures in the past, this should not deter them from moving on. They must have the confidence and courage of learning from their failures, and using the failures to produce success. Mistakes and failures are crucial in leadership, as they offer the leader more experience in specific situations. It becomes probable that after making a certain mistake, or failing terribly in a specific situation, a leader might not repeat the same mistakes in the future, and they will not fail if the same situation presents itself in future. Therefore, accepting past mistakes and learning from them, makes a good leader. Good leadership involves putting the needs of others first. This is the virtue of selflessness. True leadership requir

Carbon based pollutants Research Paper Example | Topics and Well Written Essays - 750 words

Carbon based pollutants - Research Paper Example This paper will first focus on CO2 emissions discussing its negative impact on health. Then, the paper focusing on the government’s role in reducing CO2 emissions will discuss the Caps and Trade policy of the US government and the American New Clean Energy and Security Act. Among the various detrimental greenhouse gases, CO2 is the one that has the most virility. Although, on a molecule-for-molecule basis, methane is a more intense greenhouse gas than carbon dioxide, but as it is present only in small quantities, its effect is minimal when compared to CO2. (Schobert, 2002). CO2 levels have shown an uphill path due to rampant industrialization that started in the 19th century. With economics deciding the fate of a country as well as of an individual, Industrialization acted as a ‘catalyst’ for economics as well as environmental degradation. â€Å"Humans have been modifying the environment through processes associated with industrialization...One of the most important results of these activities has been increased emissions of carbon dioxide (CO2)† (Berliner, 2004). The common medical fact is humans have to exhale CO2, as high exposure of CO2 and build up of it in the human body will kill the person. However, CO2, emitted from the ind ustries as well as fuel based vehicles, are physically as well as mentally harming humans, other living beings and also the environment. The high exposure of CO2 will affect or injure the human’s organs including heart, lungs, etc causing many diseases like lung diseases, breathing problems, cancers and even death. The results of a study covering few heart patients from Boston showed that, carbon pollutants particularly from traffic exhausts was found to increase ST-segment depression, a condition in which there is a reduction in the hearts ability to conduct electricity. â€Å"When levels of black carbon and particulates in the air

Ethical Responsibility Of The Airline Industry Management Essay

Ethical Responsibility Of The Airline Industry Management Essay The internal and external environment of an organization is related to managerial ethics and also corporate social responsibility in the process of management. This report focuses on the airport industry. In my report, there is the meaning of all factors and also an analysis of the airport industry. I expect that this report will help us know more about some key areas that need to be improved and understand key management. Ethical Responsibility of the Airline Industry Introduction The business of international airline has developed as businesses progressively are rotating worldwide in periods of their investments, provide and output chains and their consumers. The fast development of world business in items and services and worldwide direct buying have furthermore supplemented in the development of enterprise travel? One thing that actually influenced people about the industry of airline was their proficiency to sustain high earnings and sustain high clientele groundwork even after the September 11 attacks and the 2002 recession (John, 2005). The worldwide charges have expanded due to advanced security methods while localized or nationwide charges are very inexpensive to consumers. Discussion Airlines achievement is mainly due to their pointed aim. This is apparent through their no-frills, low-cost model; their aim is to supply the safest and cheapest pattern of air travel between two destinations. Driven through the concept that consumers can be persuaded without having costly choices accessible for them, International Air Transport Association, IATA, outlooks a boost in worldwide air travel through an mean 6.6% a year to the end of the ten years and over 5% a year from 2000 to 2010 (John, 2005). These rates are alike to those of the past 10 years. According to the last four years, outcomes of airlines economic advancement have sustained stable snare sales. In 1999, they had a mean snare sale of $6,739 million, which is an increase to $7,565 million. Their minor fall in 2002 to $7,225 million was due to the September 11th occurrence (Graham, 2010). However, this is not anything contrasted to other foremost commerce that had lost so much more. Since then, numerous airline s and airports have filed for insolvency and have been compelled to close down. In detail, airlines are the only foremost US carrier to stay money-making since then; airlines were influenced through the poor financial situation (John, 2005). A number of components are compelling airlines to become more proficient. In Europe, the European Union (EU) has directed that authorities must not be permitted to sponsor their loss-making airlines. In several other countries, governments anxieties over their own investments and acknowledgement of the advantages of privatization have directed to a stepwise move of possession of airlines from the state to the personal area. In alignment to apply to potential shareholders, the airlines have become more effective and aggressive. There are other causes as to why there has been a boost in air travel. Firstly there has been a decline in employed time since 1971 producing and boost in free time. Emerging trends Fast rising volumes of traffic and estimations of continued expansion into the next decades has damage on the airport capability. Industries of Airbus, for instance, expects a standard yearly traveler traffic development rate of 5.0 percent throughout the next 20 years, which means that throughout this time traffic will raise by 168 percent. At the same time, tolerance of the public environmental effects of air traffic around airports like noise, air contamination and third party danger would emerge and have to be reduced. These contradictory styles of direct airlines, airports , organizations of air traffic control and the industry of equipment and aircraft to plan latest innovative ways and technologies of working aircraft and airports in order to gather both the capacity demands and the environmental limitations. Safety is not the objective of these developments; it is a mere constraint. Consequently, new hazards emerge and accessible dangers become complicated to maintain unless proper concentration is given to security features in this arrangement of rising trends. A latest aspect, third party danger, presented itself as a security distress in a rising number of European states. Airports are centers in the system of air transport. Therefore, their attendance causes a junction of air traffic over the region nearby the airport. For the people living in the surrounding area of an airport this involves unintentional experience to the danger of aircraft mishaps. Even though the possibility of a mishap per flight is extremely small (normally in the order of 1 in one million), local danger levels around airports are higher than one may think. The resulting yearly possibility of a mishap at a distinctive large airport is so much larger than the small possibility of being concerned in an aircraft mishap as a passenger. In addition, mishaps have a propensity to happen throughout the landing and take-off stages of flight and therefore close to an airport. Security information from researches describes that approach and landing stage mishaps account for a major part of fatal air transport mishaps. It can be observed that 82 percent of the accidents of world jet aircraft fleet 1988-1997 happened in these flight stages and recorded for 58 percent of every wounded. Historical information verifies that accidents of aircraft relating significant numbers of third party sufferers happen numerous times a year. Perhaps the best recognized example is the terrible mishap of a Boeing 747 in suburban Amsterdam in 1992. Latest mishaps happened in Taiwan (Taipeh), Russia (Irkoetsk), Paraguay and Zaire (219 3rd party victims). This environmental effect is of rising consequence to airports security liability and decision making on airport improvement and land-use development for airports. Airports play a significant function in the security of air travel. A current study of mishaps described that around 30 percent of these mishaps related at least one airport concerned aspect in the fundamental chain leading up to the accident. Airport related factors in this case are taken as those factors which are specific to the airport environment but are not necessarily owned by the airport (and can therefore include concerns like fog, snow, inadequate ATC guidance, etc.). The comparative value of airport fundamental aspects can be anticipated from their comparative frequency of incidence in fundamental series of mishaps in the dataset. To this end, the 76 various airport connected fundamental aspects discovered, were grouped into seven groups. These groups are:  · Marking and Lighting  · Taxiways and runways  · Information  · External dangers  · Ramp and apron and  · ATC procedures and operations  · Aerodrome Definition of social responsibility Social responsibility is the managerial obligation to take action that protects and improves both the welfare of society as a whole and interests of the organization means, not an end. To be socially responsible, the airline industry must have a clear, rational definition of social purpose, a system of setting priorities based on their social implications, and a structured, integrated approach to financial and social action (Graham, 2010). Implicit in social responsibility is a new definition of success for small business. Area of Social Responsibility When defining its sense of social responsibility, airline industries typically confronts four areas of concern: responsibilities toward the employees, environment, customers and its investors (John, 2003). Social responsibility towards employees In the best tradition of participative management, the airline industries invited all its employees to join in forging a new statement of values to avoid massive layoffs. These included teamwork, mutual respect, and professionalism, all duly inscribed on, among other places, coffee cups at office, so that, every time you had some coffee, you drank the values, too (Gurpreet, 2003). Employees needs must be met if the business itself is to prosper. Relationships of decency and trust are central to the achievement of the airline industries aim. Employees who in the form of dirty lavatories, lack of privacy or unjust wage structures, will be unwilling to contribute to the airline industries. Do people imagine a worker might be inclined to maximize his/her profits by stretching out the work to get more overtime or perhaps even a little Sunday double time? And just as employees need to believe in the companys commitment to treating them with decency, they expect to be treated justly and fai rly, not be used and then arbitrarily rejected. If they can strike a fair deal with people theyll come back for more. In the long run, airline industries will do that much better. Social responsibility towards investors The views of shareholders / investors might have encouraged responsibility in the airline industries. Stockholders want the company to make as much money for them as possible (Gurpreet, 2003). Their objectives differ and they are not confined to furthering the strictly economic role of companies. Indeed, recent developments in the area of ethical investment trusts would seem to indicate that many investors, like employees, are very keen to feel good about the firms in which they are involved. Certainly not all of them are simply after a quick financial return and they are often clear about areas like tobacco, alcohol, gambling, or arms into which they do not want to, put their money (John, 2003). Social responsibility towards customers Obviously, a company should act responsibility towards its customers and provide quality products and pricing product fairly based on consumer rights (Graham, 2010). Consumers have a right to safe products, most completed instruction and product testing. Consumers have a right to be informed about all relevant aspects of a product. Social responsibility towards environment Good environmental management can improve employee morale and help attract better quality staff, cut costs by eliminating waste and saving energy, and bring competitive advantage by putting the company at the forefront of technical and regulatory development. Firms in numerous other industries have also integrated socially conscious thinking into their production plans and marketing efforts. The production of environmentally safe products, for example, has become a potential boom area, designing products to be environmentally friendly. Sales of vegetable-based cleaning products, recycled paper products and all natural toiletries are a few examples. Approaches to social responsibility There are four approaches to social responsibility. First is obstructionist approach. Second is defensive approach. Third is accommodative approach. And fourth is proactive approach. Advantages of behave social responsibility Using social responsibility to spot out new markets isnt a matter of recognizing that these opportunities exist. That means we may have to be content with a smaller profit margin in exchange for gaining a new market, and never make the mistake of assuming that a less-affluent market is any less choosy than the well off when it comes to buying habits. Disadvantages of behaving in an unsocial manor Unethical and irresponsibility business practices towards customers can result in government fines and loss of clientele. Collusion occurs when two or more firms agree to collaborate on such wrongful acts such as fixed pricing. However irresponsible behavior towards investors means abuse of a firms financial resources. In such cases, the ultimate losers are indeed the owners who did not receive there due earnings or dividends. Companies can act irresponsibility by misrepresent ting company resources such as improper financial management, check kiting, insider trading, and misrepresentation of finances (John, 2003). Case study There is an example of Malaysia Airlines System (MAS) as a case study. As an employer, insurer, consumer and investor, MAS has studied that the social responsible can be reflected in its environment, community, workforce, human rights, health and safety, suppliers, customers and standards of business practice. Every member is committed to continuous improvement in the corporate social responsibility program and this encourages those business partners to strive for matching performance. Thus, they recognize that the business activities have direct and indirect impacts on the society in which is operating all the time and carried out some policies as below: a) Employee appreciation and prizes: MAS realizes that workers are inclined to enlist in demeanor that is identified and paid and bypass demeanor that is punished. The system of employing, chartering, encouraging, reimbursing and openly respecting workers all may be conceived to encourage business communal duty. b) Communication, education and training: MAS identified that workers will not be held responsible if they are not cognizant of its significance and supplied with the data and devices they need to proceed properly in bearing their job requirements. They announce the significance of business communal blame internally, encompass it as a subject in administration teaching programs, and supply managers and workers with decision-making methods that support them accomplish to blame results. c) Environment: MAS has an encouraging dream of a cleaner, smarter development in aviation which maximizes the affirmative advantages for humanity facilitating prosperity, regeneration, local and UK competitiveness, heritage exchange and communal addition while minimizing contradictory communal and ecological influences (David, 2009). d) Practices of business: It has habitually integrating schemes, inducements and pay schemes to make sure that sustainable improvement main concerns are echoed in day-to-day conclusions and procedures at each of the airports. By advancing presentation through objectives, externally audited goals, key presentation signs and by mirroring these main concerns in connections with enterprise suppliers and partners. By looking through MAS past accomplishments, they have struggled to assist the buyer better and have obtained worldwide acclaim from numerous unaligned associations for diverse facets of their services. Their peak administration group obtained an accolade from the Asian Institute of Management and the World Executive Digest, for its excellence in general administration and achievement in positioning itself in the airline industry. Going as far back as 1957, they obtained the Cumber Batch Trophy for no misfortune record (John, 2003). In year 1995, the Boeing Commercial Aircraft Company provided Malaysia a Pride in Excellence Award in accomplishing reliability excellence for the B737-400 fleet (David, 2009). Malaysia Airlines performance has a crucial function in projecting Malaysia as a favored and worth for cash tourist place traveled to through comprehensive on-going junction advancements with tourism in Malaysia at main markets to boost tourist appearances into Malaysia. Conclusion Malaysia Airlines can play a role of leadership in influencing the behavior of others, from business partners to industry colleagues to neighboring businesses. The entire company has been acting conscientiously and thinking long term because they recognize that eventually it is in everyones best interests to have as several companies as possibly honoring the expectations and requirements of responsibility of corporate social. It endeavors to control every procedure in a responsible approach, believing that sound and provable performance in relation to business social responsibility rules and practices is a basic element of business success.

Human Resources Training :: Human Resources Essays

  Ã‚  Ã‚  Ã‚  Ã‚  The bottom line for any company is how efficient the workforce is at producing a quality product. Any company which desires to stay ahead of its competition will engage in training and team building efforts for their employees. However, is it really effective? What if the employees do not perceive the training in a positive manner? In their case study, Employee perceptions and their influence on training effectiveness, Amalia Santos and Mark Stuart examine these questions and more.   Ã‚  Ã‚  Ã‚  Ã‚  The basic research question at hand was: Overall, what are the employee’s attitudes and perceptions toward the training they were being asked to obtain? Secondly, are the workers able to take the training which they have received and utilize that knowledge in the workplace?   Ã‚  Ã‚  Ã‚  Ã‚  Santos and Stuart state that most of the human resource literature seems to point at the fact that training is the most significant factor in obtaining behavioral and cultural change. They cite Keep, E. (1989). 'Corporate training: the vital component?' in New Perspectives on Human Resource Management as showing that training was able to bring about a deeper commitment by workers toward a project as well as bring out certain talents or abilities that may not have been utilized or noticed before(Santos, Stuart, 2003).   Ã‚  Ã‚  Ã‚  Ã‚  The researcher’s; hypothesis was that the evaluation methods would make a difference in matching the type of training to the employee’s needs and that when this was done the employee’s attitude toward the training would be a positive one.   Ã‚  Ã‚  Ã‚  Ã‚  Most of the research participants were employees who worked in the core financial services business. Upper management were included as well as those in the branches, on the line, and the head office. Names were selected randomly from a computer’s system.   Ã‚  Ã‚  Ã‚  Ã‚  One of the larger variables in this case study was the motivation of the employee himself. One of the larger complaints that Santos and Stuart point out, is that companies are spending large amounts of money on training but have no way to determine whether a certain type of training is being effective or not. The dependent variables were those employees whose interest level was known to be high. These people wanted the training and were highly motivated to attend.   Ã‚  Ã‚  Ã‚  Ã‚  This case study took place in 1999 for the span of four months in a financial services organization called FinanceCo(Santos, Stuart, 2003). This company had a good reputation for implementing good people management processes and they had the reputation for being quite invested in the idea of ongoing and regular training for all of their employees.

In the three stories from other cultures (Country Lovers, Veronica and A Stench of Kerosene) Essay

In the three stories from other cultures (Country Lovers, Veronica and A Stench of Kerosene) discuss how the relationships in each one are affected by cultural forces In ‘Country Lovers’, the Apartheid in South Africa stopped ‘blacks’ and ‘whites’ intermingling. The Apartheid meant that police could decide to invade people’s homes if there was a suspicion of ‘blacks’ and ‘whites’ having a sexual relationship together. South Africa was a worse place due to the Apartheid and even now the division still has an affect on people’s lives. The main Act that governed the Apartheid was the Immorality act. This ultimately banned mixed marriages and later went on to be amended to ban sexual relationships. If mixed marriages were heard of the couple would be arrested and sent to prison, although even the sentencing was biased as ‘blacks’ got harsher sentences than ‘whites’. At the start of the story Paulus displayed true love towards Thebedi by bringing home a painted wooden box he had made for her in wood-work classes. He had been sent away to do these classes at a boarding school. The boarding schools were another reason why ‘blacks’ were not as educated as ‘whites’ because it was just simply not given to them in the same way it was given to the ‘whites’. Thebedi also returned the love by giving Paulus a sort-after bracelet which she had made. This bracelet made his ‘white’ friends jealous, so this shows that just because Thebedi is ‘black’ doesn’t mean she cannot bring happiness to anyone. This shows the affect it had on both races to the extent where if they had known the bracelet was made by a ‘black’ person, they wouldn’t have been jealous. When Paulus goes off to Veterinary College, it gave Njabulo a chance to show his love for Thebedi. He had had a crush on her for a long time but never revealed his feelings until Paulus went away. The relationship between Thebedi and Njabulo would not have been so frowned upon at all as they were both the same colour. The most controversial issue within the story is when Thebedi and Njabulo supposedly have a baby, but when the baby is born it is mixed-race. Njabulo accepts the baby by going out and buying things for it, ‘he bought from the Indian store a cellophane-widowed pack†. This is probably because he loved Thebedi too much to get rid of her because of a mixed-race child. This shows the different views within the cultures. But when Paulus finds out that the baby is most probably his, he demands that Thebedi gets rid of it, ‘You must give it to someone’. This shows that he is scared of the authorities, because if they find out he would be facing prison or worse. So when the baby is found dead, and the forensic evidence relates to poison, Paulus is the main suspect. But when Paulus gets to court it says that when Thebedi was giving evidence she was still wearing the ear-rings Paulus had given her when they had first met, ‘she wore gilt-hoop ear-rings’. This proved that she still had feelings for Paulus. In Veronica, it is not a case of racial differences; it is the fact that society dictates the way you live by your gender. Fatalism plays a big part in this story. Okeke shows that he accepted what he had been given more so than Veronica. This is shown by the fact that Okeke moves away top the city to try and make a life of his own. Whereas Veronica was not persuaded by Okeke’s efforts to try and get her to come with him. Instead she stayed in the village to try and scrape a life off of very little money. Okeke proved to be moralistic, ‘all the women I meet are only interested in money and cars’. Veronica herself had to mature a lot quicker than any other adolescent as her father was a bitter drunk and her mother was weak and poorly. When Okeke went away to his life in the city, I think both of them were feeling as if their lives were going to be dramatically changed but were too afraid to admit it. Okeke returned to the village as a prosperous doctor with many paths he could choose to take his life down. He came back to discover that Veronica was still living the same life but with a child and husband. Her brothers and sisters that she worked so hard to keep alive had left her and dispersed into different parts of the country and forgotten about her. The war breaks out and Okeke returns again to find Veronica lying there close to death. She says she wants to dies because she has lost everything, ‘I don’t want to live, you hear?’. So Veronica slips away and Okeke shows how much he felt for her by burying her down by the river, where they spent so much time together in their youth. A Stench of Kerosene is set in Jammu and Kashmir, Northern India. It is based in mid 20th Century. The cultural force that plays its part in this story is the Hindu Marriage Act (1955). This governs all Hindu marriages. This Act also applies to Buddhists and Sikhs. It said that the bride should be 18 and the groom 21. Neither should already have a spouse and both should be capable of giving consent. It was also believed that both spouses should be fit for both marriage and consummation. This rule however did not apply to the counties of Kashmir and Jammu. Manak truly loved his wife called Guleri. There was a carnival in a town called Chamba. Guleri looked forward to it every year and was set on going the same as usual. But there was just one problem, Manak knew that if Guleri left for any length of time, his mother would set up a marriage with someone else he might not even like. He was so seperate for her to stay he even begged her, ‘I ask again, don’t go away this time’. The reason his mother wanted Manak to get a different was because Guleri had never conceived a child and therefore could not continue with the family name. His mother paid 500 rupees just to get Manak another wife. This worked because after a short time of being with the second wife conceived a child. When Guleri heard the news of Manak’s second wife she soaked her clothes in kerosene and set them alight. The fact you don’t ever find out what the second wife’s name is, tells us that she was irrelevant to Manak and that he considered her to just be there as his wife. The main reason he just put up with her is because he respected his mother and thought that it would be wrong to speak up about how he actually felt. Also this shows that Manak’s mother cannot be blamed entirely because she was just acting how her culture dictates. Overall in these didactic stories, it shows the effects that different cultural forces had on people’s relationships and that people had to go to extreme lengths to avoid the terror of being caught doing something they know is wrong but cannot help.

An Elephant of a Different Color

An Elephant of a Different Color An Elephant of a Different Color An Elephant of a Different Color By Maeve Maddox The word elephant is one of my favorites. I love the magnificent creature to which it refers, and it’s fun to say. English has several metaphorical expressions that refer to elephants. pink elephants: hallucinations supposedly experienced by those who have drunk to excess white elephant: a possession of little use that is costly to maintain; property that is difficult to sell The expression is usually explained by citing a king of Siam who used to make a present of a white elephant to courtiers whom he wished to ruin. White elephants were considered sacred, so they couldn’t be put to work, and they were costly to care for. The term is used in the real estate industry to refer to overpriced properties belonging to celebrities: â€Å"what in the industry are called ‘white elephants’–properties that are rare, large, expensive and hard to move.† white elephant sale: a rummage sale A rummage sale provides the opportunity to get rid of useless objects by selling them to others who must then take care of them. rogue elephant: a vicious dangerous elephant that lives apart from the herd. The term rogue elephant is not metaphorical, but one use of the word rogue derives from it. In the essay â€Å"Shooting an Elephant,† Orwell explains the difference between a rogue elephant and a tame bull elephant experiencing must. (Musth or must is a periodic condition in bull elephants characterized by highly aggressive behavior.) The tame elephant will be violent for a time, but then return to a docile state. During the 2008 U.S. presidential campaign, a campaign aide described Sarah Palin as â€Å"going rogue†; Palin later used the expression as a book title. to see the elephant: to go on an adventure; to gain experience of life Young men leaving home to seek wealth in the California gold fields said they were â€Å"going to see the elephant.† When their dreams didn’t pan out, and they returned home empty-handed, they said they’d â€Å"seen the elephant.† The expression probably originated from much earlier times when elephants were an extremely rare sight, and people who wanted to see one had to undertake an arduous, adventurous journey. the elephant in the room: a serious topic that everyone is aware of, but which no one wishes to talk about openly According to the Ngram Viewer, â€Å"elephant in the room† was in use as early as 1859, but its climb to its present popularity began in the 1980s. So ubiquitous has it become, speakers are running variations on it, talking about the â€Å"big elephant in the room,† the â€Å"ginormous elephant in the room,† the â€Å"pink elephant in the room,† the â€Å"white elephant in the room,† and even the â€Å"blue elephant in the room.† Sometimes the variations are meant to be clever, like calling a pink mansion difficult to sell, a â€Å"pink elephant,† or calling the problem of pornography and cursing a â€Å"blue elephant,† because cursing is said to turn the air blue. Sometimes the variations seem the result of mere confusion. For example, the adjective pink is added so often as to suggest that the association of â€Å"pink elephants† with delirium tremens has been forgotten. For example, Actually, if your organization is currently going through a change,  employees and customers are probably talking about it as you read this. So it would be best if you addressed that â€Å"pink elephant†Ã‚  in the room and nip that â€Å"water cooler† talk in the bud as soon as possible! While it might be the pink elephant in the room, it is important to point out the increased likelihood, or at least temptation, of corruption when the teacher is administering both the pretest and post-test. (This is from an article that suggests that teachers may be cheating when administering standardized tests.) The meaning of the elephant in the room seems to be slipping away. At a writing conference, I heard an author refer to Amazon.com as â€Å"the elephant in the room,† not in the sense of something not to be talked about, but as â€Å"the largest presence† in publishing. The once vivid expression â€Å"the elephant in the room† has become so clichà ©d that writers who can’t come up with a new metaphor to express the idea would do better to say, â€Å"the problem no one wants to acknowledge.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:100 Beautiful and Ugly Words"Latter," not "Ladder"Shore It Up

Connecting Queen Elizabeth II and Queen Victoria

Connecting Queen Elizabeth II and Queen Victoria Queen Elizabeth II and Queen Victoria are the two longest-serving monarchs in British history. Victoria, who reigned from 1837 to 1901, established many of the precedents that Elizabeth has honored since she was crowned in 1952. How are the two powerful queens related? What are their family ties? Queen Victoria When she was born on May 24, 1819, few people thought Alexandra Victoria would one day be queen. Her father, Prince Edward, was the fourth in line to succeed his father, the reigning King George III. In 1818, he wed Princess Victoria of Saxe-Coburg-Saalfeld, a widowed German princess with two children. Their only child, Victoria, was born the following year. On Jan. 23, 1820, Edward died, making Victoria fourth in line. Just days later, on Jan. 29, King George III died, to be succeeded by his son George IV. When he died in 1830, the next in line, Frederick, had already passed away, so the crown went William, Victorias youngest uncle. King William IV ruled until he died with no direct heirs in 1837, just days after Victoria, the heir-apparent, turned 18. She was crowned on June 28, 1838. Victorias Family Conventions of the time were that the queen must have a king and consort, and her maternal uncle had been trying to match her with Prince Albert of Saxe-Coburg and Gotha (Aug. 26, 1819 to Dec. 14, 1861), a German prince who was also related to her. After a short courtship, the two were wed on Feb. 10, 1840. Before Alberts death in 1861, the two had nine children. One of them, Edward VII, became the king of Great Britain. Her other children would marry into the royal families of Germany, Sweden, Romania, Russia, and Denmark. Queen Elizabeth II   Elizabeth Alexandra Mary of the House of Windsor was born on  April 21, 1926 to the Duke and Duchess of York. Elizabeth, known as Lilibet as a child, had one younger sister, Margaret (Aug. 21, 1930 to Feb. 9, 2002). When she was born, Elizabeth was third in line to her grandfathers throne, behind her father and his older brother, Edward, the Prince of Wales. When King George V, son of Edward VII, died in 1936, the crown went to Elizabeths uncle Edward, but he abdicated in order to marry Wallis Simpson, a twice-divorced American. Elizabeths father became King George VI. His death on Feb. 6, 1952 cleared the way for Elizabeth to succeed him, and become Britains first queen since Queen Victoria. Elizabeths Family Elizabeth and her future husband, Prince Philip of Greece and Denmark (June 10, 1921) met a few times as children. They were married on Nov. 20, 1947. Philip, who had renounced his foreign titles, took the surname Mountbatten and became Philip, Duke of Edinburgh. Together, he and Elizabeth have four children. Her eldest, Prince Charles, is first in line to succeed Queen Elizabeth II, and his sons, Princes William and Harry, are second and third in line.   The Lineages of Elizabeth and Philip The royal families of Europe frequently intermarried, both to maintain their royal bloodlines and to preserve some balance of power between the various empires. Queen Elizabeth II and Prince Philip are both related to Queen Victoria. Elizabeth is a direct descendent of Queen Victoria, her great-great-grandmother. Working backwards in time, the tie can be traced: Elizabeths father was  George VI  (1895 to 1952). He married  Elizabeth Bowes-Lyon  (1900 to 2002) in 1925, and they had two daughters, Elizabeth II, and Princess Margaret.George VIs father was  George V  (1865 to 1936), Elizabeths grandfather. He married Mary of Teck (1867 to 1953) in 1893, a German princess raised in England.George Vs father was  Edward VII  (1841 to 1910).  Elizabeths great-grandfather. He married Alexandra of Denmark (1844 to 1925), a Danish princess.Edward VIIs mother was  Queen Victoria  (1819 to 1901), Elizabeths great-great-grandmother. She married Prince Albert of Saxe-Coburg and Gotha in 1840. Elizabeths husband, Prince Philip, Duke of Edinburgh, is one of Queen Victorias great-great-grandsons: Philips mother, Princess Alice of Battenberg  (1885 to 1969), married his father, Prince Andrew of Greece and Denmark (1882 to 1944), in 1903.Princess Alices mother was Princess Victoria of Hesse and by Rhine  (1863 to 1950), Philips maternal grandmother. Princess Victoria was married to Prince Louis of Battenberg (1854 to 1921) in 1884.Princess Victoria of Hesse and by the Rhine was the daughter of Princess Alice of the United Kingdom  (1843 to 1878), Philips great-grandmother. This Princess Alice was married to Louis IV (1837 to 1892), Grand Duke of Hesse and by the Rhine.Princess Alices mother was Queen Victoria, Philips great-great-grandmother. Further Comparisons Until 2015, Queen Victoria had been the longest-ruling monarch in the history of England, the U.K., or Great Britain. Queen Elizabeth surpassed that record of 63 years and 216 days, on Sept. 9, 2015. Both queens married princes of their own choice, quite apparently love matches, who were willing to support their reigning monarch wives. Both were committed to their duties as monarch. Though Victoria withdrew for a period when mourning her husbands rather early and unexpected death, she was an active monarch, even in ill health, until her death. As of this writing, Elizabeth, too, has been similarly active. Both inherited the crown somewhat unexpectedly. Victorias father, who predeceased her, had three older brothers ahead of him in succession, none of whom had children who survived to inherit the honor.  Elizabeths father became king only when his older brother, King Edward, abdicated when he wouldnt have been able to marry the woman he chose and remain king. Victoria and Elizabeth both celebrated Diamond Jubilees. But after 50 years on the throne, Victoria was in ill health and had only a few years left to live. Elizabeth, by comparison, continues to maintain a public schedule after a half-century of rule. At Victorias jubilee celebration in 1897, Great Britain could rightfully claim to be the most dominant empire on earth, with colonies the world over. Twenty-first-century Britain, by comparison, is a much-diminished power, having relinquished nearly all of its empire.

Managing Finance Essay Example | Topics and Well Written Essays - 3000 words

Managing Finance - Essay Example All costs involved in the manufacture of goods needs to be captured by the costing system adopted by a company. The method of such cost capturing depends on the manufacturer’s industry, and the type(s) of products manufactured. The two major methods of costing are (a) Process Costing, and (b) Job Costing (Martin, 2009?). Process costing is the normal method of capturing the cost in most manufacturing industries especially when the products are produced in large numbers using a sequence of repetitive operations. Typically, the products are usually identical and can not be segregated. Under this method, the cost of product is known at the end of any particular manufacturing operation. The cost of each process (or department) is captured using one of the costing techniques. The direct cost attributable to the product is calculated by department, and indirect costs are allocated to the products. Industries typically include textiles, coal, cigarettes, shoes, gasoline, steel, glass, automobiles, gas, water, electricity, etc. Job costing is used for industries where manufacturing takes place against a specific order. This method is useful for tracking the costs of unique products, which are usually manufactured to a specific order. In this costing process, costs are accumulated by jobs, lots, or batches. Industries that use this costing method include shipbuilding, construction projects, large contracts, job printing, etc. Absorption costing is also known as Full Costing. Under this system, all direct manufacturing costs, and all manufacturing overheads (including fixed and variable overheads) are allocated to the products. This costing concept is recommended for external reporting as per Accounting Standards Committee (SSAP 9). The limitation of this system is that the product costs can not be used for internal decision making as they would tend to

The Lottery by Shirley Jackson Essay Example | Topics and Well Written Essays - 750 words - 5

The Lottery by Shirley Jackson - Essay Example Through this short story, the author tries to explore incongruities that happen in people’s daily life thus examining humanity’s ability for wickedness and human kind weakness within a modern, well-known, American setting. In supporting this thesis by analyzing Jackson’s short story, this paper seeks to draw support by focusing on the use of symbolism, characterization, point of view, settings, and dialogue. The setting of the story is in a small village within which people have a close connection and the tradition has dominated. Through this setting, Jackson brings her point of view forth. Through the people’s habitual beliefs, the lottery is an annual event of stoning to death a victim of the winning ticket. This drawing has taken place for over 70 years and every member of the town has put it into practice. Using such a setting, it is evident that the author tries to bring forth how the people of this town are hypocrites and wicked. This town appears very mundane in which people know each other by names and people are very typical with ordinary names. In trying to use this setting, Jackson helps the reader understand that the extreme evils portrayed show how people are different from how they seem in spite of demonstrating a friendly atmosphere. Therefore, her point of view comes out clearly that, individuals need to understand each other even though they have lived together f or a while. Symbolism runs throughout the story, a literacy element that supports the thesis significantly. For instance, The Lottery is used as a symbolism of an event, deed, or a thought that is passed down across generations. Further, it turns to be an ordinary thing since it is unquestionably followed without minding their illogicality and how unethical it can be. In this village, the lottery has taken place for more that 70 years coming in June of every year (23).