Conflict In An Organizational Set Up Cheap Essay Help

Introduction

Conflict is the tension between two parties, which may be composed of individuals or forces. It may also consist of multiple entities. In other words, conflict can also be described as the act of fighting, disagreeing, or contradicting. There are numerous forms of conflicts that are classified based on the application's context. Conflict narratives, group conflicts, workplace disputes, controversies, organizational conflicts, and emotional conflicts are examples of categorized conflicts. Additionally, the conflict has been utilized in games, music, computer science, and transportation. Conflict within an organizational structure is the topic of this study.

Organizational Struggle

Also known as organizational conflict, this is a state in which the goals and needs of two forces within an organization collide. The forces in question are those individuals who collaborate. Consequently, conflict may occur between the organization's formal authorities and the impacted employees. In any particular institution, conflict can manifest in a variety of ways. For example, a dispute may occur regarding the division of earnings and the amount of time a worker should take to complete a task. Organizational conflicts can also occur across departments and even between employee unions and a company's management. Additionally, workers can disagree with themselves due to competing requirements and specific demands. It should be remembered that various employees respond differently to conflicts.

The Reasons for Conflict

Conflicts are typically the result of the actions of the parties concerned. When someone or something violates an individual's comfort zone, conflict ensues (Cowan 2003). Each person establishes their comfort zones by establishing boundaries around what they deem to be acceptable, permissible, and safe experiences and actions. Therefore, every instance that invades or threatens their comfort zone or requires them to move beyond the bounds of their comfort zones may provoke conflict (Cowan 2003). Thus, a person's first awareness of conflict arises from the emotions produced when his or her comfort zone is invaded. The crux of the matter is that people hold divergent views on various topics, which is the source of their differences.

Personal Strife

When a member of an organization faces a personal problem, the organization cannot intervene to resolve the situation. This implies that the individual must engage in inner work and address the personality issues causing the dispute. This is because the management is incapable of overcoming the obstacles. Management cannot serve as a personal career consultant. However, there are certain personality clashes that an organization's management is supposed to comprehend and provide direction for. This is because human behavior is inextricably linked to the environment in which they live.

Role Conflict

This type of conflict pertains to an individual's position within an organization. Particular focus is placed on the worker's many functions within the business. Because an organization is a system of position roles, each employee is categorically assigned to a specific role set. A role set is a group of employees who have distinct tasks or positions inside an organization. Consequently, they perform identically defined roles. The power of the organization might lead to a conflict between the assigned roles, as each member would desire a fellow individual in the same assigned function to complete the duties according to specific expectations.

Organizational Conflict's Effects

Organizational conflict can have either bad or good results. In an organization, the beneficial impacts of conflicts are necessary for the organization's smooth operation. Organizational controversies should, from a positive perspective, strengthen the affected employees' abilities to address the issue. These disputes may serve as catalysts or impetuses for innovation and change. Therefore, conflict should be linked to productivity in such a way that personal qualities should be enhanced through conflict resolution. The influence of conflict on an individual's and an organization's sense of self-worth is dictated by their level of ability in managing and resolving it. Organizations should allow employees to manage disagreement between themselves in order to promote both the self-esteem of individuals and the organization's effectiveness and production (Cowan 2003).

Conflict's Functions and Dysfunctions

The conflict serves both helpful and dysfunctional purposes. The beneficial impacts of conflicts include fostering group loyalty. Since conflict leads groups and organizations to oppose one another, there is a concealed aspect of cohesion within each group and organization (sociology guide 2010). This is demonstrated by the necessity of cooperating against a common foe. By doing so, rivalry inside the group subside, providing organization-wide unity. Conflict can also be used to identify problems, hence facilitating the development of innovative solutions. Conflict facilitates the consolidation of smaller, weaker organizations into bigger, more powerful entities. This enables the formation of organizations such as unions that fight for the rights of employees (sociology guide 2010).

Included among the dysfunctions of confrontations is the typically accompanying divisiveness. Typically, the discord produces a decline in production. Typically, employees take advantage of weak management by showing disdain for it. Additionally, conflict generates a lack of direction and organizational dispersion (Root 2010). Conflicts also result in a lack of innovative ideas and a decline in the quality of work.

My Position on Conflict

I consider conflict as predominantly functional. This is due to the good side effects that accompany it. The process of unity prompted by conflicts fosters collective allegiance. Conflict also facilitates social transformation and contributes to advancing social integration to higher levels.

Management of Conflict in an Organization

People employ the mechanisms of conflict management to transform a completely natural occurrence into a growth-producing source of money. This is why conflict is referred to as the natural mechanism through which individuals resolve their differences (Cowan 2003). The effects of an uncontrolled or badly handled conflict dwarf the dispute itself. Therefore, it is smart not to disregard a conflict because we believe it does not demand our attention. The proverb "an ounce of prevention is worth a pound of cure" is crucial in the area of conflict (Cowan, 2003: 29). Therefore, many managers are faced with the win-win or lose-lose outcomes of conflict resolution. Because well-managed conflict means constructive transformation and personal development, these dynamics of conflict are usually treated with care. Consequently, when conflict management is done with care, the business enjoys greater individual and group performance as well as high levels of production.

I Have Experienced Both Functional and Dysfunctional Conflict.

During my first year of college, I experienced one of the most vivid encounters with conflict that I have ever had. Every member of the school was aware that this young guy, Fred, followed very few directions. Fred was a bully, and it appeared that we would have to deal with him for the duration of my four years of undergraduate study. When I attempted to defend one of my acquaintances from his anger, I once found myself on the wrong side. My guy was walking along the sidewalks when he collided head-on with Fred. When I attempted to confront Fred, he punched me into the opposite side of the wall. I shall never forget the humiliation I experienced on that day. This is just one instance of a conflict's negative consequences. When our first-year class faced the second-year class in the interclass soccer competition, I experienced a sudden shift in viewpoint towards Fred. I observed Fred score two game-winning goals in this match, which resulted in a 3–2 victory over the second-year team. I found myself cheering for the match's new hero, having forgotten what he had done to me several weeks prior. This story illustrates how struggle may unite individuals against a common foe.

Conclusion

The tension between two sides constitutes conflict. Conflicts can emerge in organizations between management and employees, among management, and between employees. Typically, people or organizations are the origin of conflict. Divergent perspectives between the two parties result in conflict. When a person's comfort zone is violated, he or she first becomes aware of a conflict as a result of the feelings that ensue. A conflict can be beneficial or detrimental to an organization. The benefits of conflict include the unification of individuals with the same role set and the incorporation of smaller, weaker groupings into bigger, more powerful groups, such as workers' unions. Conflict results in weakened management and a decline in the quality and quantity of work.

Bibliography

Cowan, D. (2003). Taking Responsibility for Organizational Conflict Personhood publishes in California.

Root, G. (2010). Conflict's negative effects on an organization. Web.

Sociology handbook (2010). Useful Functions of Conflict: A Guide to the Fundamental Concepts of Sociology Web.

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Samsung Electronics: Supply Chain Strategy Cheap Essay Help

Introduction

Globalization and the innovative expansion of communication technologies contribute to an increase in industry competition. In order to offer their products to new clients and acquire the required resources from worldwide suppliers, more businesses are entering the international market. In order to streamline the procurement of vital materials and services for the creation of new technologies, influential technical companies have begun to implement complicated supply chain systems. Samsung is one of those organizations whose supply chain management remains inventive and develops new solutions. It still optimizes the efficacy of conventional procurement tactics and supply chain operations. The purpose of the study is to establish a supply and procurement chain in preparation for the launch of Samsung Artificial Intelligence. The purpose of the research is to forecast product demand and estimate the market's analysis requirements. The purpose of the study is to develop an effective procurement and supply chain strategy that will contribute to the product's successful launch. The actions associated with the study include conducting a strategic analysis for the product's development and designing implementation systems.

Background

Samsung Electronics is one of the most prominent companies that operates on numerous continents and whose scale and product offerings continue to expand. The company's vision and mission statements indicate that its technical goods are designed to enhance the lives of people worldwide. Samsung's stated aim is to use "our human resources and technology to develop superior products and services, thereby contributing to a better global society" (Martin, 2019). The company's aim is to "inspire the world with our innovative technologies, products, and design that contribute to social prosperity by creating a new future" (Martin, 2019). The enterprise's ambition to promote global societal advancement compels it to develop rigorous quality and innovation requirements. Samsung faces numerous strategic obstacles as it strives to realize its grand goal. In its annual reports and on the company's website, Samsung Electronics outlines its fundamental set of values. The core values of the conglomerate are excellence, people, change, honesty, and co-prosperity (Samsung, 2020). Co-prosperity refers to the company's pledge to become a more socially and ecologically responsible business enterprise.

Samsung is currently a transnational company with numerous subsidiaries. However, the corporation began as a local supermarket in the South Korean city of Taegu (Burris, 2020). Since its founding in 1938, Samsung has grown and entered the electronics sector in the 1960s (Burris, 2020). Following its success in electronics, Samsung entered the market for telecoms. In the 1980s, Samsung began its international growth by establishing manufacturing facilities in Europe and North America (Burris, 2020). Before the end of 2017, more than 7,500 utility patents were issued to Samsung, more than any other firm in the United States (Burris, 2020). Despite its humble beginnings, it is evident that Samsung has become one of the most prominent and important firms in the world. Therefore, a new product introduction must fulfill the high expectations of the public.

Samsung is in a highly competitive business teeming with inventive new concepts and fascinating goods. The conglomerate's subsidiaries include Samsung Electronics (IT software, electrical devices, and chips), Samsung Heavy Industries (ships), Samsung Engineering, Samsung C&T (construction), Chiel Worldwide (advertising), and Samsung Life Insurance (Martin, 2019). The topic of this report is Samsung Electronics. Apple Inc., Sony, Intel, and Microsoft are the firm's primary competitors. All of the aforementioned competitors professed an interest in artificial intelligence research and invested in it.

Strategy for Procurement and Supply Chain

Strategic Evaluation

In order to ensure that the implementation of a supply chain strategy is evidence-based and fact-driven, a strategic analysis of Samsung must consist of clearly outlined processes. The ambition of Samsung indicates the company's leadership in the smart phone and electronics industries. In turn, Samsung can acquire market dominance by offering a new, inventive product that generates revenues and attracts new customers. Intelligence artificial has the potential to become a competitive advantage for Samsung. Optimizing the company's supply chain management systems is necessary for the effective launch of the AI-powered product. Young consumers who have not necessarily formed a sense of allegiance to Samsung's competitors would be the device's target market. Additionally, this target demographic would not be too young, as consumers must have sufficient financial resources to purchase breakthrough AI-based products. Therefore, with its new smartphone, Samsung would target middle-class individuals aged twenty to thirty. Thus, Samsung Electronics would be able to target young consumers with penetration price tactics and provide them with high levels of accessibility. Artificial intelligence would provide a distinct selling point.

Supply Chain Illustration

Procurement Strategy

The sourcing strategy of Samsung Electronics necessitates an evaluation of the primary concerns and arrangements pertaining to the acquisition of necessary resources. These tangible resources can refer to metal, plastic, and other materials that a device may comprise. If Samsung decides to merge artificial intelligence and robotics, it may require actuators (motion motors), batteries, semiconductors, and an in-house machine learning (ML) platform to assure data security (Parundekar, 2020). Included among the intangible resources for the launch of the new AI-based product are Ml engineers, data scientists, and a large number of other individuals who work on the product. Also, data is the most valuable intangible resource for artificial intelligence. The focus of the report will be on optimizing the supply chain management of physical resources.

Long-term strategic sourcing is one of the most efficient methods for acquiring and assembling the components for the development of the final product, hence Samsung must employ it. Samsung must consider distribution network layout, production facilities, supplier network mission, customer expectations, location, and cross-docks in its supply chain strategy (Kurt et al., 2016). As regards sourcing arrangements, Samsung cannot utilize tactical sourcing because it is focused on short-term results (Alfian et al., 2017). Strategic sourcing, on the other hand, is a superior alternative because it enables Samsung to effectively buy goods from a variety of trustworthy sources.

In terms of relationships, Samsung must devote time and resources to establishing high-quality, long-term commercial ties with its suppliers. In the long run, this will be more cost- and time-efficient for the company because it will enable the highest yields. Samsung must also engage in relationship purchasing for the acquisition of the new product's essential suppliers and functioning components.

Strategy Execution Predictions

Forecasting hinders Samsung's ability to implement the optimal sourcing plan. It enables the business to generate estimates by assessing the market and potential clients. Second, forecasting ensures that Samsung assesses the strengths and shortcomings of the new product. Creating forecasts is vital to the process of development planning for the continuous time period. It facilitates the development of product design, planning, configuration, and marketing strategies. The time series analysis predicts that the need for artificial intelligence in the United States will increase by around 105%. Customers with relatively high incomes, such as those in the United States, the United Kingdom, China, etc., will have the highest demand for items utilizing artificial intelligence. Samsung can utilize a variety of forecasting methods, including sales force estimates, visionary forecasting, and market research (Abdel-Baset et al., 2019).

To determine the sort of demand, Samsung Electronics must conduct an analysis based on sales numbers and potential revenue. Demand forecasting is essential to the business's overall profitability. Successfully predicting the demand for a new product or service results in enhanced supplier relations, more efficient resource allocation, and overall inventory management. On the basis of the forecast, managers can enhance the distribution planning process and contribute to a more effective product lifecycle management. According to Saberi et al. (2019), forecasting enables businesses to have fewer missed sales, more efficient production, and more customer satisfaction. In addition, Samsung will be able to eliminate excessive inventory costs.

Systems

The process of integrating a supply chain strategy necessitates a systematic approach, which is why Samsung must employ systems in its supply management. Software and material handling are the most reliable technologies for inventory and core material management (Koberg and Longoni, 2019). Samsung should utilize enterprise resource planning to manage orders. A business resource strategy is the method by which orders and supplies are processed in the most effective manner. It contributes to the efficiency of supply chain management by creating task scheduling. It contributes to the development of product delivery dates, production schedules, and long-term plans (Kuandee, et al., 2019). In order to develop a robust supply chain strategy, Samsung must optimize its organizational structure and communication routes among its various departments. Among the advantages of a systematic approach are enhanced reporting, more targeted IT costs, and enhanced collaboration. Additionally, it can improve workflows, cash flow, and supply chain management as a whole.

Using an enterprise planning system, planning for demand can be optimized (ERP). The ERP system can assist Samsung in anticipating forecast and inventory needs. It enables businesses to anticipate consumer behavior and purchasing patterns, which is useful for maintaining inventory levels. In order for the ERP to study the market and create predictions, Samsung can utilize a variety of input kinds. These inputs include of past sales trends, manufacturer projections, seasonal considerations, and, most significantly, limitations. To maximize the effectiveness of the ERP operations, Samsung must invest in frequent measurement and integrate external factors in the report.

Inventory Management

Unpredictable demand and volatile market conditions pose a challenge for supply chain management. Consequently, inventory management is essential to the implementation of a successful supply chain strategy. Controlling inventories must be accomplished with the aid of proper legal laws that safeguard suppliers' relationships. Reorder points, Min/Max, and Periodic order are among the most important inventory policies to adhere to when managing stocks. Samsung is required to acquire as much buffer stock as feasible. Samsung Electronics can utilize its buffer stock to maintain proper customer management. There is independent demand for artificial intelligence because the novelty of AI promotes desirability and exclusivity tied to consumers' purchasing power. As for dependent demand, it might be the outcome of peer pressure and reference groups.

Samsung must do exhaustive market research in order to produce accurate estimations and forecasts. Demand and market share studies should be conducted in order to estimate reorder quantities and buffer stocks. In addition, it is crucial to remember that some of the materials required for the assembly and launch of the new AI-based product can be transported by air. Working with artificial intelligence necessitates Samsung's establishment of an internal platform comprised of a variety of electrical gadgets. Typically, such devices cannot be moved via conventional ways, necessitating the use of logistics to transfer them to the production site. In light of this, Samsung should not only invest in establishing long-term partnerships with suppliers, but also with transportation firms.

Strategic Enhancements/Future Steps

Samsung must initially position its new product on the market. It must differentiate its offering from its growing number of competitors. Effective pricing strategies can help Samsung Electronics get a competitive advantage in the AI market in this instance. Secondly, relationship transactions and unique processes must be integrated into the supply chain management system of the organization. It should consist of a blend of basic supply chain activities and creative trajectories in order to compete with other technological businesses that offer AI services and solutions. The focus of Samsung's long-term strategy should be on bolstering the supply chain's resilience and adaptability. It can be achieved by acquiring complete visibility, implementing continuous product planning, and employing effective pricing methods. Finally, Samsung seeks new supply chain operations and functions directives.

Conclusion

Samsung is one of the world's largest and most prominent technological companies. It envisions itself as the international leader in innovation that contributes to the improvement of global society. Samsung Electronics could unveil a new machine learning-based device in response to the growing demand for AI-based items among prospective customers. This scale of production necessitates several resources, including information, personnel, and basic materials. Samsung must optimize its procurement approach in order to facilitate an effective supply acquisition channel. The process of optimization entails the formulation of a sourcing strategy and the evaluation of potential execution obstacles. Predictions indicate that need for artificial intelligence will increase. However, Samsung still needs to implement a systematic method for predicting customer habits and market shifts. The long-term strategy of Samsung Electronics should emphasize creating resilience and adaptability within the company's supply chain management framework. This can be accomplished by employing appropriate pricing tactics, stimulating innovation, and developing positive relationships with suppliers.

Bibliography

Abdel-Baset, M. Chang, V., and Gamal, A (2019). A innovative neutrosophic method to the evaluation of green supply chain management strategies. 108 Computers in Industry, pages 210-220

Alfian, G., M. Syafrudin, and J. Rhee (2017). Real-time monitoring solution for perishable supply chain utilizing smartphone-based sensors and nosql database. Sustainability, 9(11), p.2073. Web.

The Influence of Brand Image, Design, Feature, and Price on the Purchasing Decision of Apple iOS Smartphones in Surakarta, Indonesia, Amron (2018). 5(12), pages 5187-5191, Journal of Social Sciences and Humanities Invention.

Burris, M. (2020). "The history of Samsung (1938-today)." Lifewire. Web.

Koberg, E and Longoni, A (2019). A comprehensive examination of sustainable supply chain management in global supply chains. Journal of Cleaner Production, volume 207, pages 1084 to 1098.

Kuandee, W., Nilsook, P., and Wannapiroon, P (2019). IoT-based asset supply chain management systems for higher education institutions. 15(3), pages 4–20, International Journal of Online and Biomedical Engineering (iJOE).

Kurt, O. et al (2016). The function of mobile devices and applications in supply chain management. The first issue of the International Journal of Economics and Management Systems

Martin, V. (2019). "An analysis of Samsung's mission and vision statements." Panmore, Internet.

The key guide to developing AI products in 2020, Parundekar, R. Web, Toward Data Science.

Saberi, S. et al (2019). The link between blockchain technology and sustainable supply chain management. International Journal of Production Research, 57(7), pp. 2117-2135.

Samsung (2020). Philosophy: Samsung spirit. Web.

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Steve Jobs’ And Tim Cook’s Leadership Styles Cheap Essay Help

Introduction

Leadership is essential to the success of any corporation, whether it be a service or manufacturing business. Individuals, groups, and the entire company are better able to adjust to new circumstances and enjoy the status quo when led by an exceptional leader. Change is a significant obstacle for many firms; therefore, effective leadership is necessary to ensure that employees can adapt to the new job needs. In order to survive in today's highly competitive climate, modern firms want their executives to be inventive and extremely informed (Maxwell 2007). Apple is one of the firms that are considered globally successful, and this can be ascribed to the company's effective leadership from its beginnings to the present. Steve Jobs was the most effective leader the company has ever had because he was very innovative and competent in identifying market needs and satisfying customers. The leader urged staff to plan their work, advance their careers, produce exceptional results, connect their job with significant objectives, and refresh their abilities (McManus 2006).

Steve Jobs's leadership style might be summarized as adaptable, focused, imaginative, and innovative. He was a visionary because he never advocated for reproducing what was already available on the market, always believing that the company might provide something fresh. Jobs had a unique outlook, since he was confident that his people would amaze the world with their innovative ideas. For example, he oversaw the creation of the iPad, which has transformed the way businesses operate. Steve is well-known for his statement in which he asserted:

Everything around us that we refer to as life was invented by people no smarter than you. He said, "You can build a life that others can live in, so build a life and don't live one" (Miller 2012, p. 34).

Steve was an exceptional leader who took the time to comprehend client needs and design a solution to meet them by utilizing the organization's existing resources (Sadler 2003). Tim Cook, on the other hand, is a believer in teamwork since he feels that continual research guarantees product improvement. In one of his talks with Business Insider, he was reported as saying:

You seek out individuals who respect diverse points of view. People who care enough to phone you at 11 p.m. when they have an idea and want to discuss it. Because they’re so passionate about it, they want to push the idea farther and they believe that somebody can help them push the idea another step instead of them doing everything themselves.

In this proposal, Steve Jobs and Tim Cook's diverse leadership styles and skills are examined. The purpose of this paper is to demonstrate the explicit value of strategic and innovative leadership in terms of their applicability to the success of the organization (Schuttler & Burdick 2010). In this regard, the proposal outlines several key and secondary leadership variables that contribute to the success of the business. In understanding the tenets of effective leadership, the following variables are likely to be discussed: dedication to the management role, employee participation in decision-making, workplace analysis, risk prevention and mitigation, frequent worker training, advocacy for innovation, and promotion of efficient operation (Sipe & Frick 2009, p. 112). Management commitment is an important feature of leadership that incorporates involvement meaning the top management has to engage closely with other stakeholders to fulfill the company dream. Establishing and serving a quality assurance committee, drafting and introducing quality policies and strategies, providing adequate resources for training and talent development, ensuring policies are implemented, and, finally, evaluating and revising the policies based on the actual results are also crucial aspects of management commitment to quality.

Participatory leadership, which involves the participation of employees in policy formation, is a crucial factor that every leader must address. Whether or not the goals and objectives are being met, the leader should evaluate the performance of employees in the workplace. Some issues, such as family issues, may impede goal achievement, and it is the responsibility of the top leader to implement preventative measures (Watson 2006). Additionally, risks should be avoided at all costs because they have the ability to hinder the organization's success. For instance, the firm must avoid undertaking risky projects that could result in substantial losses. Continuous training of employees promotes consistent output since they never run out of ideas. In reality, training promotes innovation and productiveness (Kolenda 2001).

Background Research

The technology industry is always fraught with difficulties since corporations are required to stay up with new technologies while still adhering to strict ethical standards. Apple is no exception, since the corporation has endured some of the greatest mistakes, such as design crimes and bullying techniques (Sipe & Frick 2009). However, the market situation necessitated that the organization utilize all possible tactics to attain success. Steve Jobs's effective leadership strategies are largely responsible for Apple's success (Adetule 2011). Steve Jobs, after failing miserably to fulfill his goals through traditional education, sought an alternative in the computer sector by forming Apple Computers with Steve Wozniak. Steve Jobs had to work exceedingly hard, even to the point of selling his own automobile, in order to finance the costly endeavor. At the time, computers were enormous and prohibitively expensive, and most Americans lacked the financial means to acquire one (Annabelle 2006, p. 17).

Literature Review

Steve Jobs was driven to fulfill his goals in the technology field after founding NeXt, a modest company that specialized in little animations (Bass 2005, p. 54). With Steve Jobs at the helm, the new corporation was extremely successful. He urged his employees to contribute their best efforts to the organization. Nonetheless, a handful of employees had little choice but to depart due to Jobs's leadership style. Jobs' leadership approach was reinforced by the creator of Jobs' sister business, Pixar, who stated, "You need a lot more than vision; you need a stubbornness, tenacity, belief, and patience to stay the course" (Bell 2005, p. 32). Steve Jobs emphasized on teamwork and dedication, with each employee playing a specific role in the production of the product. Nonetheless, employees were required to respect their superiors and guarantee that all vital information was routed through the organization's processes. His opinion was that the organization needed the right personnel in order to achieve success, but the ultimate decision rested with the top manager (Blanchard & Cathy 2002).

His work ethic was founded on a spiritual mantra that fostered invention, a characteristic that distinguishes a leader from a follower. Pixar was able to overcome the toughest competition in the country, whereas NeXt was never able to compete with the established market giants. In 1997, Steve Jobs accepted Apple's offer to merge his company with Apple (Aquinas 2006). This allowed him to assume the post of chief executive officer in the new arrangement. The corporation that was on its knees was revived by his leadership. Apple created the best products ever, including the iPod, iPhone, iTunes, and iPad (Clawson 2011). The mobile communication industry, the music industry, and the healthcare industry all received a lift from Apple's new devices. The nature of the market and market competition compelled Steve Jobs to build the greatest products. When asked if he commissioned consumer research, he responded, "No, it's not the consumer's responsibility to know what they want" (Collins 2001, p. 26).

Steve Jobs utilized his personal and professional experiences to improve Apple's performance, particularly in the area of product design, making the business one of the greatest in the world. He criticized existing practices in the technology business, claiming that the lack of diverse experiences among corporations prevented them from collaborating, resulting in linear solutions that lacked a wide view on the problems that affected consumers. According to him, understanding human experiences aids in the creation of superior products (Ferch & Spears 2011). Apple had an unusual difficulty in 2004 when it was discovered that Steve Jobs had cancer, yet this did not deter Jobs from inventing the best goods on the market, thereby making his company the best in the world. During this time, Apple established iTunes, which is the largest music retailer in the United States. While battling cancer, Steve Jobs also created the MacBook Air brand. Concurrently, the sales of the iPod and the iPhone astonished many people in the country, thereby altering the ways in which people consumed material and connected with one another (Flint 2012).

Jobs's primary responsibility was to facilitate the development of the concepts while ensuring that nothing goes wrong. Junior employees had the right and the freedom to submit any ideas, but they were required to consult with a senior manager before implementing them (Gallos 2008). Transformational leaders are inspiring because they enable their people to get the finest possible results. Steve Jobs routinely held meetings to inspire his employees to create the finest products. Jobs inspired them by his uncommon beliefs and personal fortitude in the face of numerous life challenges. People believed he was a business genius because he had never taken a management course, yet he ended up leading the largest organization in the world (Hughes, Ginnett & Curphy 2012).

This analysis demonstrates that Steve Jobs' leadership was defined by collaboration, transformation, and autocracy. Any organization whose leaders are intended to be facilitators rather than dictators is characterized by a participatory style of leadership. Steve Jobs was usually eager to counsel his subordinates about the types of strategies they had for the company, despite the fact that he always gave his approval to any corporate technology employed or implemented. Prior to the 1997 return of Steve Jobs as interim CEO, Apple had just lost close to one billion dollars (Kouzes & Posner 2012). The company's shares were priced at four dollars each, but the current returns are astounding given the company's fourteen billion dollar profit last year and its current share price of $370.

Apple's affairs were successfully managed by Steve Jobs due to his autocratic leadership style. This style of leadership centered on exerting control over employees in order to motivate them to achieve the organization's objectives (Kouzes & Posner 2003). The leader had the authority to make decisions with minimal member participation. All corporate choices were based on Steve Jobs's ideas and judgements, as the leader rarely accepted the conclusions of the following. The company's board of directors entrusted Jobs with decision-making authority, which reinforced his autocratic leadership style. According to studies, authoritarian leadership is advantageous to the growth and development of any organization. Due to the difficulties inherent in the technology industry, choices must constantly be made swiftly. The projects that the business desired to complete, including as the development of the iPod and iPhone, required strong leadership in order to be completed quickly and effectively. Consultations could have wrecked the initiatives due to inadequate organization and groups' failure to meet rigorous deadlines (Matha & Boehm 2008).

Providing Jobs with single decision-making authority allowed the distribution of tasks to team members and the establishment of deadlines for the projects. This allowed each department in the firm to concentrate on task completion without worrying about the intricate decisions that must be made during the manufacturing processes. In addition, autocratic leadership aided group members in acquiring high-level abilities in the performance of their jobs. When a leader is permitted to adopt autocratic leadership styles, there is a strong likelihood that he or she would become autocratic, dictatorial, and dominating; however, Steve Jobs was an exception because he fulfilled his position faithfully (Miller 2012).

Since Steve Jobs' departure, Apple's new management, led by Tim Cook, has ensured the company's commitment to quality. However, the changing market realities have compelled the present leader to employ various leadership abilities. Diversifying leadership is an essential feature of modern organizations due to intense competition and a constantly shifting work environment (Schuttler & Burdick 2010). A comprehensive examination of the current organizational culture demonstrates that people from diverse backgrounds are essential to the organization because they offer unique perspectives that benefit the business. In terms of creativity, employees provide diverse ideas, and relying on a single individual for product development and design could be costly for the business. Cook is cognizant of this truth, and he has incorporated it into his leadership philosophy. In one of his interviews with a local television network, he stated:

We seek diversity of thinking, diversity of style, and individuals who are true to themselves. Apple's exceptional quality is this. When you go to work, you do not need to be someone else or put on a mask to be someone else. The thing that binds us all together is that we have common values. We desire to conduct ourselves in a moral manner. We wish to be straightforward and honest. We see our error and have the bravery to alter course (Northouse 2010, p. 9).

The current state of affairs necessitates that every multinational firm, including Apple, uphold rigorous norms of openness in order to retain and cultivate consumer loyalty. Tim Cook was compelled to rise to the situation when the corporation was accused of mistreating workers at the Faxconn production facility. He went public and invited everyone in the world to observe how Apple worked. The company's global goodwill served as a model for other industry participants (Polelle 2008). Steve Jobs introduced an autocratic style of leadership to the organization, and the current CEO is eager to continue using it to ensure staff compliance. Tim Cook is responsible for issuing orders and assigning responsibilities without necessarily seeking the opinions of staff. Due to the escalating rate of change in the technology industry, oversight is constantly vital.

Aims of the research

Taking into account the significance and role of different leadership styles, the purpose of this research is to determine the extent to which different leadership styles influence the quality of Apple Inc.'s organizational performance. The sub-goals include:

To evaluate the

Macro-Environmental Forces Affecting Pedometers Cheap Essay Help

Table of Contents
Introduction Competitive pressures Forces of Regulation (Political/Legal) Economic Forces Social Forces Technological Pressures Conclusion Functions Citations Appendices

Introduction

The reported prevalence of high blood pressure, heart disease, and diabetes in the workplace is increasing at an alarming rate. To address these issues, hospitals spend a significant amount of money performing research and creating medicine. Every day, businesses report instances of employee absence due to these issues. Even in the office, the need for physical activity has emerged. This may involve walking a certain distance or for a certain amount of minutes every day. Without motivation, it is difficult for people to engage in physical activity. As a means of ensuring that everyone exercises consistently, pedometers and other assisting gadgets have been developed. This is a device that counts a person's steps by detecting the motion of his or her hips. The belt is worn around the waist. The device is currently utilized by both physical exercise teachers and employees. Due to the market's high demand for the product, it will be necessary to identify the most viable distribution channels to ensure that everyone has access to the device. Using a lengthy distribution channel will result in the product's price increasing, given that its current marked price is already high. As a result, the manufacturing company will distribute the goods through franchising. The corporation intends to communicate with franchisees in different regions of the country to ensure that it has access to the whole market. The product will be marketed for between $10 and $200, depending on the manufacturing process employed. Numerous macroenvironmental factors impact the manufacture, distribution, and use of this equipment. The purpose of this paper is to analyze some of these forces.

Competitive pressures

In analyzing the competitive factors affecting this product, this study intends to examine the product's market size and the size of its competitors.

Recent demographic research indicates that by the middle of the twenty-first century, the majority of the American population will consist of those aged 65 and older. This is attributable to an increase in the number of Americans who exercise and to the enhancement of medical services (Poehlman 35). There has been a rise in the need for physical exercise among Americans, with around 25 percent of the population engaging in daily walking, cycling, or running (Poehlman pp. 36-52). This segment of the population consists of pedometer users. The rate of change in the workplace is accelerating, and firms are highlighting the necessity for fitness among employees. This is because they recognize it as a means of increasing their productivity. This is steadily growing the market for pedometers in the United States, as workers continue to purchase the device (Poehlman pp. 53-58).

The requirement for daily exercise motivation has led to the creation of a variety of devices that assist in inspiring individuals to engage in daily exercise. In addition to pedometers, additional gadgets are utilized during physical exercise. Such devices include Timex, Garmin, and accelerometers. The majority of these devices are used to measure a person's step count or pace of movement.

The ability of pedometers to monitor various movements performed by a person as well as the heartbeat rate makes it the most popular device for attracting a large market. Due to the inability of other physical activity devices to assess the many movements performed during physical exercise, there is a strong likelihood of pedometer having a competitive advantage. However, the product is pricey due to the technology and materials necessary for its manufacture. Consequently, it has become unaffordable for the young generation, which comprises the largest proportion of individuals who engage in daily physical exercise.

Forces of Regulation (Political/Legal)

The purpose of this paper's regulatory forces research is to identify the many regulations that govern the production, distribution, and sale of exercise equipment in the United States.

There are regulations that grant organizations a monopoly on the production of particular equipment (Bassett, Pucher, Buehler, Dixie & Crouter pp. 795-800). This means that no other company can make, distribute, or sell similar products without the patent holder's consent. Companies who do not fulfill the established standards for equipment quality are denied the right to produce the equipment (Bassett et. al pp. 801-807). There are other restrictions governing the distribution and selling price of products for monopolistic enterprises (Bassett et. al pp. 809-814). This is intended to prevent such businesses from taking advantage of the people.

For production, sales, and distribution of pedometers to be effective, it is evident that the responsible company must comply to all established regulations regarding the device's quality. Acquiring patent rights for its production would assist the company in overcoming competition from other manufacturers of physical exercise products.

Economic Forces

In analyzing economic factors, this article intends to examine the market segment with the highest likelihood of adopting the product as well as its usage pattern. The article will also examine the variables that have contributed to the ineffective use of pedometers throughout the country.

There has been a rise in the number of young individuals engaging in physical activity (Dena 321). The prevalence of diabetes and heart attack cases in hospitals has prompted doctors to prescribe regular physical activity (Dena 323). People have resorted to purchasing counting and recording equipment such as the pedometer in order to routinely track their workout progression (Dena pp. 324-346). The available pedometers range in price from $10 to $200. (Dena pp. 347-356). This makes it difficult for young people to purchase the merchandise.

Based on the findings, the majority of the product's potential consumers are young people. However, their lack of consistent income and the costly cost of pedometers make it difficult for them to use the gadget. There is a need for the creation of inexpensive pedometers. The elderly and others with chronic illnesses have not had access to the device. The fact that hospitals have been emphasizing the need of physical activity indicates that future demand for pedometers will increase.

Social Factors

In the section on social forces, the paper will examine the lifestyle changes in the country as well as the demographic trend and how it may impact pedometer usage.

There has been an increase in the frequency of physical activity at both workplaces and private residences (Beighle, Pangrazi, & Vincent 213). People have begun to engage in physical exercise during their leisure time. People living in close proximity to their employers are now choosing to walk to work, whereas in the past they relied on vehicles (Beighle, Pangrazi, & Vincent pp. 214-221). Continuous adjustments are being made to the working environment to support physical activity among personnel (Beighle, Pangrazi, & Vincent 224). Physical activity is encouraged in schools (Beighle, Pangrazi, & Vincent pp. 225-234). The country's improved economic growth has led to a decline in the unemployment rate. The majority of individuals have stable incomes, allowing them to afford physical activity (Beighle, Pangrazi, & Vincent 237). In the United States, the high incidence of diseases related with physical activity causes individuals to take exercise seriously (Beighle, Pangrazi, & Vincent pp. 239-242). In order to live a healthy life, the approximately seventy million Americans over the age of sixty must engage in regular physical activity (Beighle, Pangrazi, & Vincent pp. 243-245). This implies that they will need to walk frequently, necessitating a device to track their fitness.

Pedometers will be in great demand in the future as a result of changing lifestyles in the workplace and at home, as well as the necessity for regular exercise among the elderly. As people realize that basic workouts such as taking a daily walk can prevent cardiovascular disease and heart attacks, they are likely to increase their exercise frequency. This indicates that the demand for pedometers and other exercise-related equipment would be significant.

Technological Pressures

In the technical forces study, the contribution of technology to the manufacturing of the product and its future will be examined.

Software and a sensor compose the technology utilized to manufacture physical exercise gadgets (Tudor-Locke 54). Step counters that combine microelectromechanical systems (MEMS) and sophisticated software to identify and count the number of steps have been developed (Tudor-Locke pp. 58-63). This technique has improved the accuracy of step counts, minimizing false positives as a result (Tudor-Locke 95).

Based on the mentioned technological forces, it is evident that the number of steps performed or heartbeats recorded by recently manufactured exercise gadgets are more accurate. With the availability of this technology, the company will be able to develop pedometers that precisely record and measure the steps or heartbeats of the user. As a result of not having to conduct time-consuming technological research, the product's production rate will also be increased.

Conclusion

According to information gathered regarding the macroenvironmental variables influencing the manufacturing, distribution, and sales of pedometers, it has become obvious that the number of people engaging in daily physical activity in the country is on the rise. Even in the office, physical exercise is encouraged, leading to an increase in demand for physical exercise equipment. With around 25% of the population engaging in daily physical activity, the largest market sector for pedometers is the youth demographic. Price is one of the reasons that may prevent many individuals from using the goods. The equipment's precision and mobility have been strengthened by technological advancements in its production. Changing lifestyles among individuals and in the workplace are driving an increase in demand for workout equipment. Currently, businesses are modifying their work environments to support physical activity. The establishment of regulations governing the manufacturing, distribution, and sale of equipment enables businesses to compete successfully.

Manufacturing and selling pedometers is one of the most lucrative companies to pursue. The availability of a ready market and production technology for a product eliminates the need to search for a market and manufacturing technology. The only concern with the product is its price. The product's inability to be marketed at a cheaper price is a result of its high production costs, which are attributable to the technologies employed in its manufacturing. This makes it difficult to capitalize on the young generation, who represents the greatest market sector.

Sources Cited

Bassett, David, Pucher, John, Buehler, Ralph, Dixie, Thompson. & Crouter, Scott. "Obesity Rates and Walking and Cycling in Europe, North America, and Australia." Journal of Physical Activity and Health, volume 5, number 5 (2008), pages 795 to 814.

Beighle, Amos, Robert Pangrazi, and Stephen Vincent. "Pedometers, Physical Activity, and Accountability." (encouraging youngsters to adopt good living practices). The Journal of Physical Education, Recreation, and Dance, Volume 5, Number 3 (2001), Pages 213-245.

Using a pedometer to boost physical exercise and improve health, Dena and Bravata Dena. 2007's Journal of the American Medical Association (286.19): 321-356.

Poehlman, Eric. "Relationship between age and physical activity status and metabolic rate in healthy younger and older men." 1991 Journal of Gerontology 14.2: 34-56.

Henry Tudor-Locke, Charles The art and science of step counting is known as Manpo-Kei. Canada: Victoria, 2003.

Appendixes

Graph showing the trend in the proportion of the U.S. population which reported no leisure-time physical activity, 1988 – 2007.

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Apple Company In The Chinese Market Cheap Essay Help

Introduction
Apple has already established itself as a Smartphone manufacturer on the international market. It has a well-established domestic market, which accounts for 38% of its overall sales. It has performed well on the Chinese market despite opposition from the well-established Samsung electronics, a formidable rival. Apple's market share on the Chinese market is 12 percent and is growing daily. Apple's products are costly, and several wealthy Chinese cannot afford the iPhone. The iPhone has a huge attraction among young Chinese, who view it as a status symbol. Apple's smartphone is more expensive than other cellphones on the market. Despite this, it still holds a significant market share. Apple is also working to increase its market share by licensing retailers in China to distribute its products. It desires to create agreements with the Chinese mobile telecoms industry in order to obtain access to a broader, unexplored market. The following terms are crucial to comprehend. Product development – Apple's market in China is already established and expanding daily. Since Apple achieved a 12 percent market share, the product has undergone substantial development, surpassing that of the majority of local smartphone-focused electronic enterprises. Claims of intellectual property occur when a company uses a patent or technological design of another company without permission. This property right may be exploited when another company's patent is used illegally or without the owner's permission. Typically, this results in legal cases like Samsung's. Product line – is the assortment of goods that a company sells. In addition to smartphones, Samsung sells numerous other items, including PCs, laptops, and televisions.

Environment

Competitive environment – Apple's iPhone is a very viable product on the Chinese market, particularly among the youth. The commercials speak for themselves, since there are more people in line for a newly announced iPhone product than for the items of the local company. This has encouraged Apple to innovate its business model by launching Chinese-friendly applications. It appeals to youth since having an iPhone elevates their status among their peers. As a status symbol, the iPhone has a competitive advantage over its rivals. Consequently, they have a bigger market share among young people. The majority of other companies also enjoy a competitive edge, as they sell their cellphones at lower prices than Apple. Apple maintains that it would not decrease pricing but will continue to produce high-quality products. The market is highly competitive due to the presence of numerous companies. Political legal – for the efficient functioning of the business, a corporation must understand the rules and regulations controlling market operations. Therefore, the company's target market consists primarily of the wealthy and a portion of the middle class, as it creates high-quality, pricey products. Foxconn, Apple's manufacturing partner in China, has poor working conditions that have led to labor unrest. This damages Apple's reputation, and the company has had to act in order for Foxconn to establish safe working conditions. This occurs because China lacks regulations governing the marketing and protection of workers in such factories. Apple's expected sales are contingent upon the state of the economy. The business may be experiencing a phase of recession, prosperity, depression, or recovery. These cycles govern the economy's income and unemployment rate, which in turn determines the purchasing power of consumers in each era. Therefore, when the economy is weak, consumers prefer to spend less on luxury or high-end goods. Consequently, Apple's market share may be low during such times. As proven in China, the iPhone mostly appeals to the tecno-survey youth due to its social and cultural characteristics. It has targeted colleges and universities since among Chinese millennials, it is regarded as a prestige product and a global icon. Having an iPhone raises the value of young people in the eyes of their peers; hence, the majority of students in universities and colleges purchase the device for status. Apple must analyze the population, understand the trends of the youth and the elderly, and determine what modifications it can make to its products in order to fulfill the expectations of each group and promote its products accordingly. Technology – Apple has upgraded its technology to accommodate Chinese sites, particularly social networking sites that are popular among the Chinese populace; this has been a selling point for the phone. Apple uses the iOS 6 operating system, which runs famous Chinese websites such as Sina Weibo. In addition, it has the Mac OS 10.8 upgrade, which features major Chinese websites in mandarin.

Market mix factors

Apple's target market in China is the young Chinese, particularly the youth and those in higher education institutions. The iPhone is popular among young Chinese consumers. iPhone has incorporated social networking sites that are popular among Chinese people, particularly young individuals who enjoy using social networking sites. Apple is progressively gaining market share in China, despite the fact that its competitors have a larger market share. When a new version of the Apple iPhone is released, a greater proportion of Chinese consumers purchase it than those of local companies. The quality of the product itself is exceptional. Consequently, the items and the company Apple serves as a selling point due to its reputation for producing high-quality products. Apple therefore mostly appeals to the wealthy and a portion of the middle class who desire it for its status. Price – the iPhone is really expensive. This is due to the fact that Apple caters to the high-end market, which consists of wealthy individuals with substantial discretionary resources. The majority of young Chinese would like to own one, but the price deters them. In addition, the middle class is cognizant of the price, particularly during difficult economic times. Apple is in discussions with multiple mobile operators, including China Unicom and China Telecom, to market its product. These mobile enterprises can also assist with product advertising and market share expansion. In addition, licensed retailers promote the products through pamphlets and banners in their surroundings. Distribution – Apple distributes its products nationwide through licensed agents and retailers. It has its own building from which distribution to the market flows. It has licensed numerous stores throughout the country for the distribution of its products, allowing it to reach a huge market.

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Amazon.com Inc.’s Strategic Management Elements Cheap Essay Help

Chain of Value-Primary Services
Logistics inbound

Amazon began as an online book retailer (Saunders 2001). Nonetheless, it has evolved into a provider of technical goods and services. To fulfill the increasing demands of its consumers, the corporation has had to increase its storage capacity. In 2008, after analyzing consumer feedback, the company established new facilities in Hazleton and Arizona to accommodate the growing demand for its products (Schepp, Schepp and Richardson 2009). Additionally, the corporation has had to improve its inventory control systems to accommodate the new products added to its database.

Operations

Initially, Amazon mostly supplied books (Saunders 2001). Eventually, its inventory will expand to include technical goods and services, such as cloud computing. During this period of expansion and growth, the organization continually evaluates the market's needs and devises the most practical solution. Instead of providing digital books and trusting that purchasers would figure out how to read them, the firm invested in the development of the Kindle, which enabled consumers to purchase and read books from a single platform (Johnson, Whittington and Scholes 2011).

Outbound operations

Amazon has maintained its supremacy in the online retail industry by providing its customers with economical and high-quality services. In this regard, the organization occasionally offers reductions without compromising delivery timeliness. The corporation has also established smaller warehouses in North America, Europe, and Asia to ensure timely delivery of products to clients. The company's credibility has been established by charging solely for services rendered, and their prices are typically lower than the market average.

Marketing/Sales

Having recognized an untapped market, Amazon made it a priority to meet customer demands. However, a marketing and advertising budget was established for both television and online channels in order to facilitate continued expansion. Additionally, the corporation ensured that it maintained a positive reputation by keeping all of its promises (Saunders 2001). This solid relationship with clients helped spread the company's name, and it has had little need for more advertising over time. Additionally, the corporation has made progress by investing in research.

Service

Amazon has established an efficient customer support department in order to retain clients who have previously attempted to acquire its goods and services. The organization gives a money-back guarantee if the customer's needs are not satisfied (Johnson, Whittington and Scholes 2011). This after-sales support has helped the client maintain a positive reputation and secure repeat business. For the Kindle, the firm's e-reader, the company offers free repair services during the warranty term and subsidized rates after the warranty expires.

These five characteristics and their explanations are the fundamental actions that have helped the company maintain its competitive edge in the online retail industry. Michael Porter identified and popularized the elements of the value chain in his book Competitive Advantage: Creating and Sustaining Superior Performance (Porter 1985). Each of the aforementioned actions must function in unison with the others for their impact on the company's profitability to be felt.

Without a reliable delivery service for its items, for instance, Amazon's marketing and sales office would have had difficulty gaining the customers' trust. Amazon's value chain must be connected to the value chains of its suppliers and customers for it to be effective. For example, the decisions made by publishers effect the company's inbound logistics for its book supply business. The same holds true for its services, which are contingent upon market demand.

Support activities

The core pieces of the value chain described previously cannot function without the presence of a number of support functions. Porter divided these support efforts into four categories, as depicted below:

Procurement

Amazon began as an online book retailer (Saunders 2001). At that time, the business purchased books from publishers and distributed them for a profit. Later, the company expanded into the marketing of devices while maintaining the same business strategy (Spector 2000).

However, the company's strategists observed that digital material access tools were lacking. This resulted in the production of the Kindle, a device that encouraged users to continue relying on the corporation for electronic and printed content. The creation of the Kindle transformed Amazon from an intermediary into a manufacturer. It was required to purchase raw materials and other inputs for the production of the product; hence, an independent procurement unit was required.

Technological Advancement

Amazon's founders concluded that investing in research was the only way for their business to thrive (Spector 2000). This has enabled the corporation to consistently detect market gaps and develop products to fill them. With the expansion of cyberspace, Amazon, for instance, saw the need for hosting and cloud computing services. Amazon Web Services was established for this reason (Kalpanik and Pamela 2011).

Additionally, the organization has verified that its intrinsic process automation functions have been enhanced to match contemporary requirements. These new technology advances were integrated into each of the company's five core businesses. For instance, after developing the Kindle, Amazon had to establish a completely new value chain to manage every aspect of the product's manufacture, marketing, and sales.

Human Resource Administration

Amazon has expanded from a one-person enterprise to a worldwide enterprise with thousands of employees. These employees engage in a variety of tasks, ranging from incoming logistics through service delivery. In this sense, the corporation has established a complete human resource management department to monitor the hiring, training, and compensation of its employees (Saunders 2001).

Firm Infrastructure

Amazon, as a legitimate business, has established divisions for legal, financial, and quality control duties. Profitability is assured so long as these three divisions are managed correctly. The infrastructure of a company influences the efficiency of each of the five core value chain operations.

The aforementioned support activities are typically regarded as supplementary requirements (Porter 1985). However, certain businesses, such as Amazon, have leveraged them successfully to acquire a competitive advantage. For instance, the acquisition of new technology has enabled the corporation to satisfy rising client needs without increasing the price of their products and services.

Bibliography

Exploring Strategy: Text & Cases, Pearson Education Limited, Essex, 2011, Johnson, G., R. Whittington, and K. Scholes.

Inside the Giant Machine: An Amazon.com Story, by S. Kalpanik and T. Pamela, CreateSpace, Washington, 2011.

New York: Free Press, 1985. Porter, M. Competitive Advantage: Creating and Sustaining Superior Performance.

Saunders, R 2001, Business the Amazon.com way: secrets of the world's most remarkable Internet company, John Wiley & Sons is located in New Jersey.

Schepp, B, Schepp D & Richardson, G AMACOM Div American Mgmt Assn, New York, 2009. Amazon Top Seller Secrets: Insider Advice from Amazon's Most Successful Sellers.

Amazon.com-Get Big fast: Inside the Revolutionary Business Model That Changed the World, R. Spector, 2000. New York Harper Collins Publishers

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Government Regulation And The Accountants Cheap Essay Help

Introduction

For a firm to continue climbing the success ladder in the marketplace, it must have a competent accountant who takes care of all its financial demands and maintains accurate records of its financial situation and financial statement. This individual, who is a professional working in the accounts department, will aid in the establishment of the company's internal transactions and the implementation of the controls necessary for the company's growth. They are also in the business of evaluating business achievements and identifying productive company sections.

Client

Other responsibilities include determining the tax liabilities of business owners so that they can comply with government-mandated regulatory mandates. A good and skilled accountant is stated to have completed at least a four-year program in accounting, auditing, taxation, and finance. In order to be able to offer a genuine and accurate picture of a company's financial status, a certified public accountant must exercise due diligence in accordance with established norms and regulations. Whoever assumes this task owes the company and its owners these and additional ethical and professional requirements so that they can manage and preserve their investment while balancing the credits and adjusting the tax authorities.

In whatever type of business, the customer must always come first, and their demands must be respected and satisfied. As a certified public accountant, you must attend to all of the client's financial requirements. The professional should listen to the client's needs, compile them with the bits and pieces of information they have gathered, and then come up with a solution that is professional and will meet the client's needs (Gottschall, 2009). The computation of past accounts presents the greatest difficulty for the accounts department when dealing with clients. This is where professional ethics come into play by carefully listening to their requirements and assessing their expectations.

As a provider of fundamental accounting services, a certified public accountant should take the leading role of financial crisis advisor. The client will be in a superior position to comprehend all of the business's financial endeavors as a result of their addition to the company's expertise. The positive interaction between the client and the accountant will aid in the variation of the account's performance and the client's contribution to the business. As an accountant, the first step is to gather sufficient information about the planned task so that you can present the client or organization with accurate information (Heinemann, 2006). Studies conducted over time have revealed that a company's competency and performance will rely heavily on the accountant's performance in addition to the board's smart decisions. The objective of any new business is to decrease costs and expenses while simultaneously increasing revenue. This is where account skills come into play, specifically the ability to help a client maintain their financial records and advise them on how to maintain a graph of revenues.

Third-Party

The phrase "third party" is commonly used to refer to a person or organization that is not directly involved in the operation of the business but has some relevance to its operation. Due to the fact that they finance the completion of the business cycle, their participation in the business is important and of considerable value. It has become increasingly evident that the majority of firms include a third party in order to expand and grow (Gottschall, 2009). In any event, these third parties consist of creditors, shareholders, and many others. Their participation in the firm has been advantageous because they bring in additional funds. Since the third party participates in the capital injection, a substantial portion of the growth of many enterprises is attributed to them. The accountant is still responsible for accounting for their participation in the business. Their profits and losses, as well as the volume of their money float, are based on data collected by the accountant.

There are numerous responsibilities that are precisely outlined by both the laws of the land and the company's ideals. In light of the third party's involvement in the business, the accountant is qualified to maintain the company's accounting records. Although they cannot be held liable for any losses incurred, they have an obligation to provide an accurate statement of performance to the third party. The accountant responsible for third-party matters is prohibited from providing a thorough report and is required to provide explanations for any arrived figures (Heinemann, 2006). They are responsible for managing the money float of third parties and protecting the money from fraud. Accountants have a duty to preserve the customer's investment through an accurate financial statement, regardless of any purpose to deceive a third party with the intent to steal from them or negligence that will lead to fraud.

The knowledge and abilities of an accountant are the fundamentals for involving a third party in a business, as they can handle its operations pretty well and securely. As soon as a third party commits to a business, their success is contingent on the business's performance and accurate accounting. Since they are satisfied and their reliance on financial statements and position is easily available, their confidence in businesses with a solid accounting strategy is regarded as growing in importance.

Government

All firms, regardless of size, must reply to the government as they must answer to the proper ministries for taxation and business licenses. As the organization continues to expand and flourish, their red tape and other requirements get more extensive and intricate. The accountant of every business, especially those with a public organization, is required to provide annual financial reports. In addition, their shareholders and partners will require the financial books at the end of each active fiscal year (Spector, 2005). The government accountants collaborate closely with the internal auditors and the company's accountant to verify and validate the work and entries in the company's books of accounts. Their responsibilities will also include confirming the company's accounting regulations and ensuring that the accounting department's procedures are running as they should. In addition, they will investigate the organization’s policy and procedures to determine if they are satisfying the government’s mandate for practicing accounting. As a government-representing accountant, their primary concern is the control of the business's financial reporting methods in order to prevent any data inaccuracies or omissions. They conduct a thorough examination of the book of accounts, attempting to follow the posting process's phases to arrive at the specified amount. This government-instituted technique enables businesses to conduct error- and fraud-free business transactions.

Internet (www.sec.gov is an excellent site) search for actions made against accountants or accounting companies. Choose an action or claim that pertains to each of the three parties discussed in the first section of the article and outline the pertinent details. Identify, for each of the three actions/claims, which act or legislation the accountant violated and how.

Solution

Today's accountants are subject to an ever-increasing level of performance monitoring and obligation to their clients and the government, particularly in regards to the financial information provided by their clients and society. Recent legal actions that have been reported as a result of accountant negligence or fraud allege that these accountants are responsible for the problems that have been encountered by savings and loan institutions, companies that have experienced bankruptcy, and foreign companies that have not received their funds due to the actions of accountants. According to a report compiled by Johnson and Higgins in 2009, the frequency of these financial losses has been on the rise, and the quantity of money lost has continued to expand.

The monetary damages that have been fined as a result of accountants' negligence have also continued to rise. In 2009, for instance, an Arizona court was compelled to impose a $338 million fine on the Big Six Accounting Firm based in the same state as the fraud victim, Resolution Trust Corporation. This relates to the alleged negligence perpetrated by the accounting company when it failed to make and safeguard the Finance Trust Institution's savings.

According to Dan A. Simunic, the chairman and a member of the highly regarded Accounting department at the University of British Columbia, the only way to manage business risk, which is specifically introduced by accountants, is to continuously assess and evaluate the relationships that exist with current clients, as well as to consider the effects that potential clients have on the practice of accountancy. According to the American Institute of Certified Public Accountants (AICPA), accountants' legal liability might be expanded in the following situations:

Professional misconduct Unfair competitive methods Administrative processes brought before the Securities and Exchange Commission Securities fraud class action lawsuits in which the accountant, the accounting company, and the client are involved.

Limited Liability Company (LLP)

Accountants have utilized this LLP structure due to the fact that they cannot work as accountants or auditors for a corporation that is not legally entitled to operate as a company. The term limited liability partnership (LLP) is used in the accounting and legal areas to describe a partnership with limited responsibility (Parasa and Kwansa, 2002). This association exemplifies the uniqueness of a partnership or corporation in which one partner is not legally liable for the personal or professional misbehavior, negligence, or carelessness of another partner. This means that the partners have little culpability for the corporation's activities and finances, and that they have the right to handle their enterprises directly.

In the case of Mattco Forge v. Ernst & Young, a Californian court found the accounting firm Ernst & Young responsible for negligence in its role as the provider's consultant and sentenced it to pay $42 million in compensatory and monetary damages. This is the first time an accounting firm has been held accountable and fined harshly for negligence, fraud, and lack of customer service. In the past, however, there have been numerous instances of auditor malpractice and neglect. This case has significantly established the precedent for the extent to which clients are protected from the conduct of their accountants, drawing the attention of all such professionals to the liabilities associated with litigation advice services.

Government and Tax Evasion

The government, through the IRS, has only lately terminated the special voluntary disclosure program intended for investors who may choose to hold money overseas, with accountants forgetting to reveal the entire value of this amount. Nevertheless, the usual voluntary disclosure of this information remains. This has left enormous legal issues for accountants who have not reported their riches; the practical question is what may be anticipated. Consequently, investors and other financial corporations run the risk of this statute being enforced, particularly in light of the 2009 trial of the Swiss banking giant UBS banking firm.

By invoking the Bank Secrecy Act, the government has been able to recall the bank statement information of foreign investors using this act as a strong weapon. This has opened the door to the possibility of hefty financial penalties, particularly in cases where accountants have neglected to report officially the money placed into offshore accounts. This law imposes anti-money-laundering requirements on banks and other financial institutions, as well as a variety of other enterprises.

Your paper should conclude with a consideration of priority. Accountants owe a range of obligations to clients, the government, shareholders, the community, etc. Who or what should take precedence? Accountants have an obligation to abide by the law, but what other considerations should they take into account? Consider a circumstance in which a company's books are organized in a way that technically does not violate the law but could be confusing to investors/shareholders. This situation covers all three key parties to whom the accountant is accountable. Find a concrete illustration to support your point.

Solution

Accountants are frequently confronted with the age-old conundrum of whom to prioritize: the client, the government, or a third-party organization (Lawson, 1991). Accordingly, a deed of trust is typically assigned between these industry participants, where the client is simultaneously registered as the vendor of the various services that are to be provided by the accountant, and the third-party agency is referred to as the intermediary responsible for monitoring the passing of these services (Rubinfeld and Hemingway, 2009). However, specific situations may contradict this position, necessitating additional needs and considerations before the accountant's services are given precedence. This circumstance involves a priority analysis between the customer, the third party, and any government authorities that may be engaged in the transaction.

The Colorado Supreme Court was recently involved in the case ABY Holding Firm v. Bank of Telluride, in which the accountant was accused of disregarding the client's priority and assigning it to the third-party mortgage company responsible for the sale of the corporate building. The awarding of the purchase contract between the parties required marking two simple checkboxes, either in agreement or disagreement (Brownmiller, 2005). However, there were no designations in the purchase agreement, which was drafted utilizing the standard priority of suing the client first. In addition, there had to be significant negotiations between the accountants on both sides of the client, the buyer, and the third party to iron out the details of the transaction.

Introduction

For a firm to continue climbing the success ladder in the marketplace, it must have a competent accountant who takes care of all its financial demands and maintains accurate records of its financial situation and financial statement. This individual, who is a professional working in the accounts department, will aid in the establishment of the company's internal transactions and the implementation of the controls necessary for the company's growth. They are also in the business of evaluating business achievements and identifying productive company sections.

Client

Other responsibilities include determining the tax liabilities of business owners so that they can comply with government-mandated regulatory mandates. A good and skilled accountant is stated to have completed at least a four-year program in accounting, auditing, taxation, and finance. In order to be able to offer a genuine and accurate picture of a company's financial status, a certified public accountant must exercise due diligence in accordance with established norms and regulations. Whoever assumes this task owes the company and its owners these and additional ethical and professional requirements so that they can manage and preserve their investment while balancing the credits and adjusting the tax authorities.

In whatever type of business, the customer must always come first, and their demands must be respected and satisfied. As a certified public accountant, you must attend to all of the client's financial requirements. The professional should listen to the client's needs, compile them with the bits and pieces of information they have gathered, and then come up with a solution that is professional and will meet the client's needs (Gottschall, 2009). The computation of past accounts presents the greatest difficulty for the accounts department when dealing with clients. This is where professional ethics come into play by carefully listening to their requirements and assessing their expectations.

As a provider of fundamental accounting services, a certified public accountant should take the leading role of financial crisis advisor. The client will be in a superior position to comprehend all of the business's financial endeavors as a result of their addition to the company's expertise. The positive interaction between the client and the accountant will aid in the variation of the account's performance and the client's contribution to the business. As an accountant, the first step is to gather sufficient information about the planned task so that you can present the client or organization with accurate information (Heinemann, 2006). Studies conducted over time have revealed that a company's competency and performance will rely heavily on the accountant's performance in addition to the board's smart decisions. The objective of any new business is to decrease costs and expenses while simultaneously increasing revenue. This is where account skills come into play, specifically the ability to help a client maintain their financial records and advise them on how to maintain a graph of revenues.

Third-Party

The phrase "third party" is commonly used to refer to a person or organization that is not directly involved in the operation of the business but has some relevance to its operation. Due to the fact that they finance the completion of the business cycle, their participation in the business is important and of considerable value. It has become increasingly evident that the majority of firms include a third party in order to expand and grow (Gottschall, 2009). In any event, these third parties consist of creditors, shareholders, and many others. Their participation in the firm has been advantageous because they bring in additional funds. Since the third party participates in the capital injection, a substantial portion of the growth of many enterprises is attributed to them. The accountant is still responsible for accounting for their participation in the business. Their profits and losses, as well as the volume of their money float, are based on data collected by the accountant.

There are numerous responsibilities that are precisely outlined by both the laws of the land and the company's ideals. In light of the third party's involvement in the business, the accountant is qualified to maintain the company's accounting records. Although they cannot be held liable for any losses incurred, they have an obligation to provide an accurate statement of performance to the third party. The accountant responsible for third-party matters is prohibited from providing a thorough report and is required to provide explanations for any arrived figures (Heinemann, 2006). They are responsible for managing the money float of third parties and protecting the money from fraud. Accountants have a duty to preserve the customer's investment through an accurate financial statement, regardless of any purpose to deceive a third party with the intent to steal from them or negligence that will lead to fraud.

The knowledge and abilities of an accountant are the fundamentals for involving a third party in a business, as they can handle its operations pretty well and securely. As soon as a third party commits to a business, their success is contingent on the business's performance and accurate accounting. Since they are satisfied and their reliance on financial statements and position is easily available, their confidence in businesses with a solid accounting strategy is regarded as growing in importance.

Government

All firms, regardless of size, must reply to the government as they must answer to the proper ministries for taxation and business licenses. As the organization continues to expand and flourish, their red tape and other requirements get more extensive and intricate. The accountant of every business, especially those with a public organization, is required to provide annual financial reports. In addition, their shareholders and partners will require the financial books at the end of each active fiscal year (Spector, 2005). The government accountants collaborate closely with the internal auditors and the company's accountant to verify and validate the work and entries in the company's books of accounts. Their responsibilities will also include confirming the company's accounting regulations and ensuring that the accounting department's procedures are running as they should. In addition, they will investigate the organization’s policy and procedures to determine if they are satisfying the government’s mandate for practicing accounting. As a government-representing accountant, their primary concern is the control of the business's financial reporting methods in order to prevent any data inaccuracies or omissions. They conduct a thorough examination of the book of accounts, attempting to follow the posting process's phases to arrive at the specified amount. This government-instituted technique enables businesses to conduct error- and fraud-free business transactions.

Internet (www.sec.gov is an excellent site) search for actions made against accountants or accounting companies. Choose an action or claim that pertains to each of the three parties discussed in the first section of the article and outline the pertinent details. Identify, for each of the three actions/claims, which act or legislation the accountant violated and how.

Solution

Today's accountants are subject to an ever-increasing level of performance monitoring and obligation to their clients and the government, particularly in regards to the financial information provided by their clients and society. Recent legal actions that have been reported as a result of accountant negligence or fraud allege that these accountants are responsible for the problems that have been encountered by savings and loan institutions, companies that have experienced bankruptcy, and foreign companies that have not received their funds due to the actions of accountants. According to a report compiled by Johnson and Higgins in 2009, the frequency of these financial losses has been on the rise, and the quantity of money lost has continued to expand.

The monetary damages that have been fined as a result of accountants' negligence have also continued to rise. In 2009, for instance, an Arizona court was compelled to impose a $338 million fine on the Big Six Accounting Firm based in the same state as the fraud victim, Resolution Trust Corporation. This relates to the alleged negligence perpetrated by the accounting company when it failed to make and safeguard the Finance Trust Institution's savings.

According to Dan A. Simunic, the chairman and a member of the highly regarded Accounting department at the University of British Columbia, the only way to manage business risk, which is specifically introduced by accountants, is to continuously assess and evaluate the relationships that exist with current clients, as well as to consider the effects that potential clients have on the practice of accountancy. According to the American Institute of Certified Public Accountants (AICPA), accountants' legal liability might be expanded in the following situations:

Professional misconduct Unfair competitive methods Administrative processes brought before the Securities and Exchange Commission Securities fraud class action lawsuits in which the accountant, the accounting company, and the client are involved.

Limited Liability Company (LLP)

Accountants have utilized this LLP structure due to the fact that they cannot work as accountants or auditors for a corporation that is not legally entitled to operate as a company. The term limited liability partnership (LLP) is used in the accounting and legal areas to describe a partnership with limited responsibility (Parasa and Kwansa, 2002). This association exemplifies the uniqueness of a partnership or corporation in which one partner is not legally liable for the personal or professional misbehavior, negligence, or carelessness of another partner. This means that the partners have little culpability for the corporation's activities and finances, and that they have the right to handle their enterprises directly.

In the case of Mattco Forge v. Ernst & Young, a Californian court found the accounting firm Ernst & Young responsible for negligence in its role as the provider's consultant and sentenced it to pay $42 million in compensatory and monetary damages. This is the first time an accounting firm has been held accountable and fined harshly for negligence, fraud, and lack of customer service. In the past, however, there have been numerous instances of auditor malpractice and neglect. This case has significantly established the precedent for the extent to which clients are protected from the conduct of their accountants, drawing the attention of all such professionals to the liabilities associated with litigation advice services.

Government and Tax Evasion

The government, through the IRS, has only lately terminated the special voluntary disclosure program intended for investors who may choose to hold money overseas, with accountants forgetting to reveal the entire value of this amount. Nevertheless, the usual voluntary disclosure of this information remains. This has left enormous legal issues for accountants who have not reported their riches; the practical question is what may be anticipated. Consequently, investors and other financial corporations run the risk of this statute being enforced, particularly in light of the 2009 trial of the Swiss banking giant UBS banking firm.

By invoking the Bank Secrecy Act, the government has been able to recall the bank statement information of foreign investors using this act as a strong weapon. This has opened the door to the possibility of hefty financial penalties, particularly in cases where accountants have neglected to report officially the money placed into offshore accounts. This law imposes anti-money-laundering requirements on banks and other financial institutions, as well as a variety of other enterprises.

Your paper should conclude with a consideration of priority. Accountants owe a range of obligations to clients, the government, shareholders, the community, etc. Who or what should take precedence? Accountants have an obligation to abide by the law, but what other considerations should they take into account? Consider a circumstance in which a company's books are organized in a way that technically does not violate the law but could be confusing to investors/shareholders. This situation covers all three key parties to whom the accountant is accountable. Find a concrete illustration to support your point.

Solution

Accountants are frequently confronted with the age-old conundrum of whom to prioritize: the client, the government, or a third-party organization (Lawson, 1991). Accordingly, a deed of trust is typically assigned between these industry participants, where the client is simultaneously registered as the vendor of the various services that are to be provided by the accountant, and the third-party agency is referred to as the intermediary responsible for monitoring the passing of these services (Rubinfeld and Hemingway, 2009). However, specific situations may contradict this position, necessitating additional needs and considerations before the accountant's services are given precedence. This circumstance involves a priority analysis between the customer, the third party, and any government authorities that may be engaged in the transaction.

The Colorado Supreme Court was recently involved in the case ABY Holding Firm v. Bank of Telluride, in which the accountant was accused of disregarding the client's priority and assigning it to the third-party mortgage company responsible for the sale of the corporate building. The awarding of the purchase contract between the parties required marking two simple checkboxes, either in agreement or disagreement (Brownmiller, 2005). However, there were no designations in the purchase agreement, which was drafted utilizing the standard priority of suing the client first. Additionally, there was to be extensive discussions between the accountants on both ends of the client, the purchaser, and the third party to iron out

Government Regulation And The Accountants Cheap Essay Help

Introduction

For a firm to continue climbing the success ladder in the marketplace, it must have a competent accountant who takes care of all its financial demands and maintains accurate records of its financial situation and financial statement. This individual, who is a professional working in the accounts department, will aid in the establishment of the company's internal transactions and the implementation of the controls necessary for the company's growth. They are also in the business of evaluating business achievements and identifying productive company sections.

Client

Other responsibilities include determining the tax liabilities of business owners so that they can comply with government-mandated regulatory mandates. A good and skilled accountant is stated to have completed at least a four-year program in accounting, auditing, taxation, and finance. In order to be able to offer a genuine and accurate picture of a company's financial status, a certified public accountant must exercise due diligence in accordance with established norms and regulations. Whoever assumes this task owes the company and its owners these and additional ethical and professional requirements so that they can manage and preserve their investment while balancing the credits and adjusting the tax authorities.

In whatever type of business, the customer must always come first, and their demands must be respected and satisfied. As a certified public accountant, you must attend to all of the client's financial requirements. The professional should listen to the client's needs, compile them with the bits and pieces of information they have gathered, and then come up with a solution that is professional and will meet the client's needs (Gottschall, 2009). The computation of past accounts presents the greatest difficulty for the accounts department when dealing with clients. This is where professional ethics come into play by carefully listening to their requirements and assessing their expectations.

As a provider of fundamental accounting services, a certified public accountant should take the leading role of financial crisis advisor. The client will be in a superior position to comprehend all of the business's financial endeavors as a result of their addition to the company's expertise. The positive interaction between the client and the accountant will aid in the variation of the account's performance and the client's contribution to the business. As an accountant, the first step is to gather sufficient information about the planned task so that you can present the client or organization with accurate information (Heinemann, 2006). Studies conducted over time have revealed that a company's competency and performance will rely heavily on the accountant's performance in addition to the board's smart decisions. The objective of any new business is to decrease costs and expenses while simultaneously increasing revenue. This is where account skills come into play, specifically the ability to help a client maintain their financial records and advise them on how to maintain a graph of revenues.

Third-Party

The phrase "third party" is commonly used to refer to a person or organization that is not directly involved in the operation of the business but has some relevance to its operation. Due to the fact that they finance the completion of the business cycle, their participation in the business is important and of considerable value. It has become increasingly evident that the majority of firms include a third party in order to expand and grow (Gottschall, 2009). In any event, these third parties consist of creditors, shareholders, and many others. Their participation in the firm has been advantageous because they bring in additional funds. Since the third party participates in the capital injection, a substantial portion of the growth of many enterprises is attributed to them. The accountant is still responsible for accounting for their participation in the business. Their profits and losses, as well as the volume of their money float, are based on data collected by the accountant.

There are numerous responsibilities that are precisely outlined by both the laws of the land and the company's ideals. In light of the third party's involvement in the business, the accountant is qualified to maintain the company's accounting records. Although they cannot be held liable for any losses incurred, they have an obligation to provide an accurate statement of performance to the third party. The accountant responsible for third-party matters is prohibited from providing a thorough report and is required to provide explanations for any arrived figures (Heinemann, 2006). They are responsible for managing the money float of third parties and protecting the money from fraud. Accountants have a duty to preserve the customer's investment through an accurate financial statement, regardless of any purpose to deceive a third party with the intent to steal from them or negligence that will lead to fraud.

The knowledge and abilities of an accountant are the fundamentals for involving a third party in a business, as they can handle its operations pretty well and securely. As soon as a third party commits to a business, their success is contingent on the business's performance and accurate accounting. Since they are satisfied and their reliance on financial statements and position is easily available, their confidence in businesses with a solid accounting strategy is regarded as growing in importance.

Government

All firms, regardless of size, must reply to the government as they must answer to the proper ministries for taxation and business licenses. As the organization continues to expand and flourish, their red tape and other requirements get more extensive and intricate. The accountant of every business, especially those with a public organization, is required to provide annual financial reports. In addition, their shareholders and partners will require the financial books at the end of each active fiscal year (Spector, 2005). The government accountants collaborate closely with the internal auditors and the company's accountant to verify and validate the work and entries in the company's books of accounts. Their responsibilities will also include confirming the company's accounting regulations and ensuring that the accounting department's procedures are running as they should. In addition, they will investigate the organization’s policy and procedures to determine if they are satisfying the government’s mandate for practicing accounting. As a government-representing accountant, their primary concern is the control of the business's financial reporting methods in order to prevent any data inaccuracies or omissions. They conduct a thorough examination of the book of accounts, attempting to follow the posting process's phases to arrive at the specified amount. This government-instituted technique enables businesses to conduct error- and fraud-free business transactions.

Internet (www.sec.gov is an excellent site) search for actions made against accountants or accounting companies. Choose an action or claim that pertains to each of the three parties discussed in the first section of the article and outline the pertinent details. Identify, for each of the three actions/claims, which act or legislation the accountant violated and how.

Solution

Today's accountants are subject to an ever-increasing level of performance monitoring and obligation to their clients and the government, particularly in regards to the financial information provided by their clients and society. Recent legal actions that have been reported as a result of accountant negligence or fraud allege that these accountants are responsible for the problems that have been encountered by savings and loan institutions, companies that have experienced bankruptcy, and foreign companies that have not received their funds due to the actions of accountants. According to a report compiled by Johnson and Higgins in 2009, the frequency of these financial losses has been on the rise, and the quantity of money lost has continued to expand.

The monetary damages that have been fined as a result of accountants' negligence have also continued to rise. In 2009, for instance, an Arizona court was compelled to impose a $338 million fine on the Big Six Accounting Firm based in the same state as the fraud victim, Resolution Trust Corporation. This relates to the alleged negligence perpetrated by the accounting company when it failed to make and safeguard the Finance Trust Institution's savings.

According to Dan A. Simunic, the chairman and a member of the highly regarded Accounting department at the University of British Columbia, the only way to manage business risk, which is specifically introduced by accountants, is to continuously assess and evaluate the relationships that exist with current clients, as well as to consider the effects that potential clients have on the practice of accountancy. According to the American Institute of Certified Public Accountants (AICPA), accountants' legal liability might be expanded in the following situations:

Professional misconduct Unfair competitive methods Administrative processes brought before the Securities and Exchange Commission Securities fraud class action lawsuits in which the accountant, the accounting company, and the client are involved.

Limited Liability Company (LLP)

Accountants have utilized this LLP structure due to the fact that they cannot work as accountants or auditors for a corporation that is not legally entitled to operate as a company. The term limited liability partnership (LLP) is used in the accounting and legal areas to describe a partnership with limited responsibility (Parasa and Kwansa, 2002). This association exemplifies the uniqueness of a partnership or corporation in which one partner is not legally liable for the personal or professional misbehavior, negligence, or carelessness of another partner. This means that the partners have little culpability for the corporation's activities and finances, and that they have the right to handle their enterprises directly.

In the case of Mattco Forge v. Ernst & Young, a Californian court found the accounting firm Ernst & Young responsible for negligence in its role as the provider's consultant and sentenced it to pay $42 million in compensatory and monetary damages. This is the first time an accounting firm has been held accountable and fined harshly for negligence, fraud, and lack of customer service. In the past, however, there have been numerous instances of auditor malpractice and neglect. This case has significantly established the precedent for the extent to which clients are protected from the conduct of their accountants, drawing the attention of all such professionals to the liabilities associated with litigation advice services.

Government and Tax Evasion

The government, through the IRS, has only lately terminated the special voluntary disclosure program intended for investors who may choose to hold money overseas, with accountants forgetting to reveal the entire value of this amount. Nevertheless, the usual voluntary disclosure of this information remains. This has left enormous legal issues for accountants who have not reported their riches; the practical question is what may be anticipated. Consequently, investors and other financial corporations run the risk of this statute being enforced, particularly in light of the 2009 trial of the Swiss banking giant UBS banking firm.

By invoking the Bank Secrecy Act, the government has been able to recall the bank statement information of foreign investors using this act as a strong weapon. This has opened the door to the possibility of hefty financial penalties, particularly in cases where accountants have neglected to report officially the money placed into offshore accounts. This law imposes anti-money-laundering requirements on banks and other financial institutions, as well as a variety of other enterprises.

Your paper should conclude with a consideration of priority. Accountants owe a range of obligations to clients, the government, shareholders, the community, etc. Who or what should take precedence? Accountants have an obligation to abide by the law, but what other considerations should they take into account? Consider a circumstance in which a company's books are organized in a way that technically does not violate the law but could be confusing to investors/shareholders. This situation covers all three key parties to whom the accountant is accountable. Find a concrete illustration to support your point.

Solution

Accountants are frequently confronted with the age-old conundrum of whom to prioritize: the client, the government, or a third-party organization (Lawson, 1991). Accordingly, a deed of trust is typically assigned between these industry participants, where the client is simultaneously registered as the vendor of the various services that are to be provided by the accountant, and the third-party agency is referred to as the intermediary responsible for monitoring the passing of these services (Rubinfeld and Hemingway, 2009). However, specific situations may contradict this position, necessitating additional needs and considerations before the accountant's services are given precedence. This circumstance involves a priority analysis between the customer, the third party, and any government authorities that may be engaged in the transaction.

The Colorado Supreme Court was recently involved in the case ABY Holding Firm v. Bank of Telluride, in which the accountant was accused of disregarding the client's priority and assigning it to the third-party mortgage company responsible for the sale of the corporate building. The awarding of the purchase contract between the parties required marking two simple checkboxes, either in agreement or disagreement (Brownmiller, 2005). However, there were no designations in the purchase agreement, which was drafted utilizing the standard priority of suing the client first. In addition, there had to be significant negotiations between the accountants on both sides of the client, the buyer, and the third party to iron out the details of the transaction.

Introduction

For a firm to continue climbing the success ladder in the marketplace, it must have a competent accountant who takes care of all its financial demands and maintains accurate records of its financial situation and financial statement. This individual, who is a professional working in the accounts department, will aid in the establishment of the company's internal transactions and the implementation of the controls necessary for the company's growth. They are also in the business of evaluating business achievements and identifying productive company sections.

Client

Other responsibilities include determining the tax liabilities of business owners so that they can comply with government-mandated regulatory mandates. A good and skilled accountant is stated to have completed at least a four-year program in accounting, auditing, taxation, and finance. In order to be able to offer a genuine and accurate picture of a company's financial status, a certified public accountant must exercise due diligence in accordance with established norms and regulations. Whoever assumes this task owes the company and its owners these and additional ethical and professional requirements so that they can manage and preserve their investment while balancing the credits and adjusting the tax authorities.

In whatever type of business, the customer must always come first, and their demands must be respected and satisfied. As a certified public accountant, you must attend to all of the client's financial requirements. The professional should listen to the client's needs, compile them with the bits and pieces of information they have gathered, and then come up with a solution that is professional and will meet the client's needs (Gottschall, 2009). The computation of past accounts presents the greatest difficulty for the accounts department when dealing with clients. This is where professional ethics come into play by carefully listening to their requirements and assessing their expectations.

As a provider of fundamental accounting services, a certified public accountant should take the leading role of financial crisis advisor. The client will be in a superior position to comprehend all of the business's financial endeavors as a result of their addition to the company's expertise. The positive interaction between the client and the accountant will aid in the variation of the account's performance and the client's contribution to the business. As an accountant, the first step is to gather sufficient information about the planned task so that you can present the client or organization with accurate information (Heinemann, 2006). Studies conducted over time have revealed that a company's competency and performance will rely heavily on the accountant's performance in addition to the board's smart decisions. The objective of any new business is to decrease costs and expenses while simultaneously increasing revenue. This is where account skills come into play, specifically the ability to help a client maintain their financial records and advise them on how to maintain a graph of revenues.

Third-Party

The phrase "third party" is commonly used to refer to a person or organization that is not directly involved in the operation of the business but has some relevance to its operation. Due to the fact that they finance the completion of the business cycle, their participation in the business is important and of considerable value. It has become increasingly evident that the majority of firms include a third party in order to expand and grow (Gottschall, 2009). In any event, these third parties consist of creditors, shareholders, and many others. Their participation in the firm has been advantageous because they bring in additional funds. Since the third party participates in the capital injection, a substantial portion of the growth of many enterprises is attributed to them. The accountant is still responsible for accounting for their participation in the business. Their profits and losses, as well as the volume of their money float, are based on data collected by the accountant.

There are numerous responsibilities that are precisely outlined by both the laws of the land and the company's ideals. In light of the third party's involvement in the business, the accountant is qualified to maintain the company's accounting records. Although they cannot be held liable for any losses incurred, they have an obligation to provide an accurate statement of performance to the third party. The accountant responsible for third-party matters is prohibited from providing a thorough report and is required to provide explanations for any arrived figures (Heinemann, 2006). They are responsible for managing the money float of third parties and protecting the money from fraud. Accountants have a duty to preserve the customer's investment through an accurate financial statement, regardless of any purpose to deceive a third party with the intent to steal from them or negligence that will lead to fraud.

The knowledge and abilities of an accountant are the fundamentals for involving a third party in a business, as they can handle its operations pretty well and securely. As soon as a third party commits to a business, their success is contingent on the business's performance and accurate accounting. Since they are satisfied and their reliance on financial statements and position is easily available, their confidence in businesses with a solid accounting strategy is regarded as growing in importance.

Government

All firms, regardless of size, must reply to the government as they must answer to the proper ministries for taxation and business licenses. As the organization continues to expand and flourish, their red tape and other requirements get more extensive and intricate. The accountant of every business, especially those with a public organization, is required to provide annual financial reports. In addition, their shareholders and partners will require the financial books at the end of each active fiscal year (Spector, 2005). The government accountants collaborate closely with the internal auditors and the company's accountant to verify and validate the work and entries in the company's books of accounts. Their responsibilities will also include confirming the company's accounting regulations and ensuring that the accounting department's procedures are running as they should. In addition, they will investigate the organization’s policy and procedures to determine if they are satisfying the government’s mandate for practicing accounting. As a government-representing accountant, their primary concern is the control of the business's financial reporting methods in order to prevent any data inaccuracies or omissions. They conduct a thorough examination of the book of accounts, attempting to follow the posting process's phases to arrive at the specified amount. This government-instituted technique enables businesses to conduct error- and fraud-free business transactions.

Internet (www.sec.gov is an excellent site) search for actions made against accountants or accounting companies. Choose an action or claim that pertains to each of the three parties discussed in the first section of the article and outline the pertinent details. Identify, for each of the three actions/claims, which act or legislation the accountant violated and how.

Solution

Today's accountants are subject to an ever-increasing level of performance monitoring and obligation to their clients and the government, particularly in regards to the financial information provided by their clients and society. Recent legal actions that have been reported as a result of accountant negligence or fraud allege that these accountants are responsible for the problems that have been encountered by savings and loan institutions, companies that have experienced bankruptcy, and foreign companies that have not received their funds due to the actions of accountants. According to a report compiled by Johnson and Higgins in 2009, the frequency of these financial losses has been on the rise, and the quantity of money lost has continued to expand.

The monetary damages that have been fined as a result of accountants' negligence have also continued to rise. In 2009, for instance, an Arizona court was compelled to impose a $338 million fine on the Big Six Accounting Firm based in the same state as the fraud victim, Resolution Trust Corporation. This relates to the alleged negligence perpetrated by the accounting company when it failed to make and safeguard the Finance Trust Institution's savings.

According to Dan A. Simunic, the chairman and a member of the highly regarded Accounting department at the University of British Columbia, the only way to manage business risk, which is specifically introduced by accountants, is to continuously assess and evaluate the relationships that exist with current clients, as well as to consider the effects that potential clients have on the practice of accountancy. According to the American Institute of Certified Public Accountants (AICPA), accountants' legal liability might be expanded in the following situations:

Professional misconduct Unfair competitive methods Administrative processes brought before the Securities and Exchange Commission Securities fraud class action lawsuits in which the accountant, the accounting company, and the client are involved.

Limited Liability Company (LLP)

Accountants have utilized this LLP structure due to the fact that they cannot work as accountants or auditors for a corporation that is not legally entitled to operate as a company. The term limited liability partnership (LLP) is used in the accounting and legal areas to describe a partnership with limited responsibility (Parasa and Kwansa, 2002). This association exemplifies the uniqueness of a partnership or corporation in which one partner is not legally liable for the personal or professional misbehavior, negligence, or carelessness of another partner. This means that the partners have little culpability for the corporation's activities and finances, and that they have the right to handle their enterprises directly.

In the case of Mattco Forge v. Ernst & Young, a Californian court found the accounting firm Ernst & Young responsible for negligence in its role as the provider's consultant and sentenced it to pay $42 million in compensatory and monetary damages. This is the first time an accounting firm has been held accountable and fined harshly for negligence, fraud, and lack of customer service. In the past, however, there have been numerous instances of auditor malpractice and neglect. This case has significantly established the precedent for the extent to which clients are protected from the conduct of their accountants, drawing the attention of all such professionals to the liabilities associated with litigation advice services.

Government and Tax Evasion

The government, through the IRS, has only lately terminated the special voluntary disclosure program intended for investors who may choose to hold money overseas, with accountants forgetting to reveal the entire value of this amount. Nevertheless, the usual voluntary disclosure of this information remains. This has left enormous legal issues for accountants who have not reported their riches; the practical question is what may be anticipated. Consequently, investors and other financial corporations run the risk of this statute being enforced, particularly in light of the 2009 trial of the Swiss banking giant UBS banking firm.

By invoking the Bank Secrecy Act, the government has been able to recall the bank statement information of foreign investors using this act as a strong weapon. This has opened the door to the possibility of hefty financial penalties, particularly in cases where accountants have neglected to report officially the money placed into offshore accounts. This law imposes anti-money-laundering requirements on banks and other financial institutions, as well as a variety of other enterprises.

Your paper should conclude with a consideration of priority. Accountants owe a range of obligations to clients, the government, shareholders, the community, etc. Who or what should take precedence? Accountants have an obligation to abide by the law, but what other considerations should they take into account? Consider a circumstance in which a company's books are organized in a way that technically does not violate the law but could be confusing to investors/shareholders. This situation covers all three key parties to whom the accountant is accountable. Find a concrete illustration to support your point.

Solution

Accountants are frequently confronted with the age-old conundrum of whom to prioritize: the client, the government, or a third-party organization (Lawson, 1991). Accordingly, a deed of trust is typically assigned between these industry participants, where the client is simultaneously registered as the vendor of the various services that are to be provided by the accountant, and the third-party agency is referred to as the intermediary responsible for monitoring the passing of these services (Rubinfeld and Hemingway, 2009). However, specific situations may contradict this position, necessitating additional needs and considerations before the accountant's services are given precedence. This circumstance involves a priority analysis between the customer, the third party, and any government authorities that may be engaged in the transaction.

The Colorado Supreme Court was recently involved in the case ABY Holding Firm v. Bank of Telluride, in which the accountant was accused of disregarding the client's priority and assigning it to the third-party mortgage company responsible for the sale of the corporate building. The awarding of the purchase contract between the parties required marking two simple checkboxes, either in agreement or disagreement (Brownmiller, 2005). However, there were no designations in the purchase agreement, which was drafted utilizing the standard priority of suing the client first. Additionally, there was to be extensive discussions between the accountants on both ends of the client, the purchaser, and the third party to iron out

Accounting Standard-Setting And Regulatory Bodies Cheap Essay Help

Standards
The website of the U.S. Securities and Exchange Commission

US SEC is the abbreviation for the United States Securities and Exchange Commission. The U.S. Securities and Exchange Commission (SEC) assures the steady flow of complete and accurate financial information that supports investors in making informed financial decisions. Therefore, the organization safeguards investor interests, promotes capital formation, and preserves and organizes markets. The entity's commissioners are appointed by the President, subject to Senate ratification. Since 2013, Mary Jo White has been the Chair. Luis A. Aguilar will be the first commissioner. Since 2008, he has been a commissioner. Daniel M. Gallagher is the second member of the commission. Additionally, Kara M. Stein is a commissioner since 2013. Since 2013, Michael S. Piwowar has been a commissioner. None of the commissioners have an accounting experience.

The Financial Accounting Standards Board's website

Financial Accounting and Standard Board is abbreviated as FASB. The Board was established in 1973. The primary responsibility of the board is to establish and enhance standards. The board-established criteria guide the development of financial reports for nongovernmental organizations. Board members establish and maintain GAAP. In addition, the board is responsible for the Accounting Standards Codification. The board chairman is Russell G. Golden. He holds a CPA license. James L. Kroeker (with an accounting background), Darly E. Buck (with an accounting background), Thomas J. Linsmeier, R. Harold Schroeder (with an accounting background), Marc A. Siegel, and Lawrence W. Smith are the other board members (has accounting background).

The International Accounting Standards Board's website

The International Accounting Standards Board (IASB) is responsible for establishing accounting standards. The board develops and disseminates the IFRS. It also creates IFRS for small and medium-sized enterprises and validates the interpretations created by the IFRS interpretation committee. Hans Hoogervorst is the chairman of the board of directors. In 2011, the chairman was appointed. Patrick Finnegan, Amaro Luiz de Oliveira Gomes, Gary Kabureck, and Mary Tokar are the US-based board members. The remaining board members reside in other regions, including Asia-Oceania, Europe, and Africa.

Multiple bodies create accounting rules

Having multiple organizations produce accounting standards is an admirable concept. Multiple organizations will increase competitiveness. This will enhance the quality of prepared standards. Furthermore, these groups have identical missions. Even while the concept of having a single body develop accounting standards increases the comparability of outcomes, the quality of the standards will be low. Therefore, standards developed by multiple organizations will be of higher quality than those developed by a single entity.

AICPA's online presence

AICPA is the abbreviation for the American Institute of Certified Public Accountants. The association is responsible for protecting the interests of CPAs. Consequently, it protects the CPA profession by establishing norms and guidelines and advocating before legislative authorities. The organization provides its members with the resources and leadership necessary to perform their duties with professionalism. AICPA does not license CPAs. In the United States, issuing licenses is the responsibility of individual states.

If a foreign student wishes to become a licensed CPA in the United States, he or she must choose the state in which to be licensed. The student must next contact the State Board of Accountancy for that state in order to get the prerequisites. The Board will evaluate the student's educational qualifications, and if they are inadequate, the student will be advised to attend more courses. After meeting the eligibility requirements, the international student will sit for the CPA exam. Students who meet all of the prerequisites are granted licenses by the State Board of Accountancy.

Ireland is one of the nations that have signed the Mutual Recognition Agreement with the National Association of State Boards of Accountancy and the AICPA. A CPA from Ireland must therefore take the four-and-a-half-hour International Qualifications Examination (IQEX) rather than the standard fourteen-hour exam. In addition, the CPA must meet all of the requirements established by the board.

The United States does not recognize ACCA qualifications. In order to become a CPA in the United States, a person having such titles will be required to fulfill all the basic prerequisites. Therefore, the accountant will contact the State Board of Accountancy for the state in which he or she desires to work to receive the essential prerequisites. The account holder will be awarded a license after meeting all conditions.

The webpage for the Ohio Accountancy Board

An individual who does public accounting but does not provide structured services is responsible for registration. On the other hand, all CPAs and public accountants who perform public accounting and offer controlled services are required to obtain a license.

A CPA must earn 120 credits of Continuing Professional Education (CPE) over a three-year period in order to renew their certification. In addition, a CPA must earn twenty-four credits in accounting, auditing, or taxes within 24 months. In addition, every certified public account must receive three PSR credits. In addition, the CPA must present a certificate of completion or transcript as confirmation that the CPE hours have been completed. Other documentation validating the time, location, program content, and date are also acceptable as proof of completion of hours.

The 4701-7-04 Practices of Public Accounting and Regulated Services stipulates that the CPA must get an Ohio Permit and be affiliated with a registered firm.

In the state of Ohio, Dr. Kathryn Eileen Easterday is authorized to practice public accounting. Her license number is CPA.39002 and the status of her credential is active.

Codification

Two firms are deemed financially connected if the operational and financial resolution of one company has an effect on the other, or if one company intends to have a continuous financial interest in the disposable assets of the other.

There are three requirements for an equity security to have a readily ascertainable fair value. First, the sales price or bid-asked quotations of the security should be available on the securities exchange. Such an exchange must be registered with the US SEC. As long as they are publicly reported via the National Association of Securities Dealers Automated Quotation systems, prices and quotations can also be received from the over-the-counter market. Second, the fair value of equity securities that trade on international markets can be easily determined if the size of the overseas market is comparable to any of the US SEC-listed security markets. The third criterion is that the fair value of an investment that trades in a mutual fund is readily obtainable and made public.

A change in accounting estimate has the impact of modifying the current asset or liability balance. Changes in accounting estimates can also affect the eventual handling of existing or future assets and liabilities. These modifications are significant because they result from the examination of the current and future situation of assets and liabilities. New information pertaining to the assets and liabilities is primarily responsible for the change in accounting estimate. Non-recoverable accounts receivable and warranty obligations are instances of such new knowledge.

The Accounting Standards Codification mandates the disclosure of information regarding the accounting policies used to prepare the financial statements. An explanation of the significant accounting policies should be included as a required element of the financial statement. Therefore, the disclosure should include both the accounting rules and the techniques utilized to apply them.

Elements of financial statements

The complete set of financial statements for a fiscal year must include the financial position at the end of the period, earnings for the period, comprehensive income for the period, cash flow during the period, as well as investments by and distributions to owners during the period, FASB CON 5, Par. 13-14. (Financial Accounting Standards Board 9).

The financial statements are related because they present the same thing in several ways. Even though they produce distinct results, none of them can independently offer all the necessary data. Therefore, the assertions complement one another. For instance, the statement of financial position is frequently utilized when evaluating the liquidity condition of a corporation (Financial Accounting Standards Board 10). To evaluate the liquidity, this statement of financial status is insufficient. Additionally, the user should evaluate the cash flow statement. In addition, the examination of certain characteristics, such as profitability, necessitates the use of multiple financial statements. Reviewing all of a company's financial statements is essential for making effective financial decisions, FASB CON 5, Par. 23-24. (Financial Accounting Standards Board 10).

Accounting's concept of recognition focuses on the treatment of a transaction or item. It involves formally integrating or registering a transaction or item into a company's financial accounts. These elements are "recorded as assets, expenses, revenues, or liabilities" (Financial Accounting Standards Board 17). Therefore, the items should be recorded in both numerical and textual formats. In the case of assets and liabilities, recognition occurs both during the acquisition / incurrence of the item and during future adjustments to an item that was previously recognized, FASB CON 5, Par. 6 and 58. (Financial Accounting Standards Board 17).

The fundamental criteria for recognition are that a transaction must meet the definition of a financial statement component, the item must be measurable with adequate consistency, the transaction must have an impact on the user's decision-making process (relevance), and the information must be reliable. Once an item satisfies the four requirements, other factors will influence the choice to record it. These are the cost-benefit restrictions and the materiality criteria, FASB CON 5, Section 63. (Financial Accounting Standards Board 17).

Sources Cited

Statement of Financial Accounting Concepts No.5: Recognition and Measurement in Financial Statements of Business Enterprises (PDF), 2008, Financial Accounting Standards Board. Web.

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Paradox Of Needs In The Human Resource Management Cheap Essay Help

Executive synopsis (abstract)

Organizations regard bureaucracy as the ideal method for handling a multitude of jobs. In addition, they employ bureaucracy to limit performance to a series of quantifiable duties. This eventually results in performance targeting. However, given the organic character of human beings, a quantitative approach results in a lack of care for the quality of labor. As stated previously, humans adapt to their surroundings and prioritize completing activities, disregarding unimportant factors such as quality. As the bureaucracy of organizations enhances the managability of individuals, everything will run smoothly for a time. However, as the firm expands and its operational environment becomes more difficult, the demand for humanity in human resources resurfaces. This essay investigates the paradox of needs in the context of human resource management, analyzing its existence and potential remedies. In their work habits, line managers are caught between the mechanical approach to organization and the organic approach to persons. It also investigates potential solutions and recommends a way ahead for addressing the current difficulty of managing people by advocating a balance between the organizational desire for bureaucracy and the capacity to provide informal working conditions for individuals.

Introduction and context

People management is a difficult task that human resource managers must perform. The difficulty emerges from the necessity of creating a work atmosphere that employees enjoy. In addition, those utilizing the allocated area must work efficiently and productively. Obtaining a balance between the working environment and the productivity of individuals is difficult in practice, despite its seeming simplicity on paper. The dynamic nature of their working environment is a result of the people who comprise it. They continuously respond to internal and external influences. If this is the case, and organizations are really a collection of individuals working toward a common goal, then there is no one solution to the problem of people management. The remainder of this essay will examine the potential approaches for addressing the paradox of needs.

The history of human resource management demonstrates the difficulty of managing individuals. There have been personnel specialist layoffs. Managers are required to both lead and manage. (Clegg, Harris, & Hopfl, 2011) Organizations continue to grow leaner, and managers continue to acquire training that should enable them to accomplish more with less resources. Unbelievably, the progression demonstrates both reasonable and irrational thought that appears to be informing people management. One poses the following inquiry: If people, particularly managers, were so vital to firms, why would they want to cut their numbers? Another paradoxical discovery is that people may place a high importance on freedom, yet wind up working for organizations that severely restrict it. The aforementioned observations bring up the paradox of needs, which will be the topic of this essay. Considering the knowledge of how organizations function, humans and organizations are interdependent. However, people prioritize enjoyment, but corporations operate on a reasonable basis. Human beings are based on an organic model, but the majority of businesses operate on a machine model with hierarchies, static predictability, and a strong demand for self-sacrifice and efficiency. In contrast to robots, humans are dynamic, environment-adaptable, and problem-solvers.

Human and Organizational Needs in Conflict

To grow and meet more wants, humans must risk their psychological, safety, love/belonging, esteem, and self-actualization needs. There is no growth without risk, and the result is atrophy. In the past, prophecies concerning the current world have been made. There are allegations that the current business environment is so bureaucratic that humans must be machine-like to thrive. In this respect, humans must sacrifice their spirit, sensuality, and heart. It is considered the pinnacle of civilization. This was Weber's perspective of the present-day world (Ritzer, 2011).

This essay's introduction implied that humans are forced to work for organizations that restrict their freedom. According to Weber's account of formal rationality, the observation develops as a result of people's pursuit of the most efficient way to achieve a particular goal. They function inside laws, regulations, and bigger societal systems as a result. In the past, people were able to discover a particular goal on their own, relying only on basic guidance from belief systems such as religions. With formal rationality, individuals lose a substantial amount of their freedom to achieve their goals.

Organizations demand inventive and creative individuals in order to achieve their objectives (Ritzer, 2011). However, excessive bureaucratic tradition stifles employee innovation and problem-solving skills. In addition, employees in a mature firm have formed a comfort zone in which their requirements are only important to the extent that they can be met with the current efforts (Berman, Bowman, West, & Wart, 2012).

Evidently, contradictions will become more frequent in the future. The paradox of needs will be more intricate than its present form. People will continue to search for ways to conform to organizational regulations while meeting their requirements. Organizations will undoubtedly attempt to adopt organic structures, but they can only thrive when they are mechanical. There will be a rise in the number of business tools for managing human resources, whose outputs and demand will differ based on the surroundings and organizational requirements. They may also rely on the leadership of individuals within organizations. There is no single answer to the paradox of needs. This conclusion has not and certainly will not deter academics and practitioners from pursuing solutions to balance organizational and human demands in the workplace of the future.

Organizational Standardization Strategies to Improve Performance

Continuous research is offering insights into how managers might manage human resources, but it does not supply answers that can be utilized by present practitioners (Lui, Lau, & Ngo, 2004). There is currently no universal answer to the issue. The following reforms to human resource management aim to reconcile the organization's requirement for bureaucracy with individuals' desire for autonomy. Organizations are utilizing web-based apps. There is a surge in the number of rules and regulations pertaining to online employment and hiring procedures. There are job listings and virtual recruitment centers available online. These centers are equipped with interactive voice response technology, computerized interviews, and electronic background checks. Adopting machine recruitment tactics enables firms to reduce their staffing needs and achieve other goals, such as cost savings and faster response times. However, this creates a subsequent issue that businesses will need to address. Adaptable as they are, humans are shifting their attention to organizational fitness. They enroll in classes and create online profiles that position them as excellent possibilities (Berman et al., 2012).

Without the human aspect in recruitment, companies fall prey to bureaucratic dangers. They are acquiring employees who are eager to fulfill goals and less concerned with other aspects of job performance, such as creativity, problem-solving, and personal leadership. A human resource management system that is initially efficient quickly becomes complex and creates new inefficiency. Soon, firms will require an alternative technique for confirming online candidate profiles. They are required to deal with recruitment companies that source applicants who match job requirements but offer little value to organizations once hired. Meanwhile, personnel dissatisfied with their dehumanized workplaces try to undermine or destroy operations. Eventually, a system that began as extremely rational becomes profoundly irrational.

According to Maslow's hierarchy of requirements, safety is one of the fundamental wants. It involves economic security, which enables an individual to fulfill life/belonging demands, such as forming connections. However, in order to obtain economic security, one must provide value to others. The need to reduce the risk of losing one's safety net is also the reason why people are unwilling to take greater risks that would allow them to produce more value and acquire more resources to maintain their safety. A human safety adaption appears to be inhumane. Therefore, people do not need to be concerned with Maslow's additional demands. It explains how people place a disproportionate emphasis on economic prosperity and material possessions over their need for love, belonging, and admiration.

Global Human Resource Management is becoming more homogeneous as a result of a high level of imitative orientation.

Increased globalization is causing human resource best practices to converge. However, theories on business competitiveness, such as the resource-based perspective theory, need a firm's capabilities to be distinctive, difficult to replicate, scarce, and managed (Hill, Jones, & Schilling, 2014). An organization with an organic structure and ideology would be strong enough to compete with rivals. That would be the prudent decision in terms of human resource management. However, corporations also create strategies so that they have the same opportunity for a competitive advantage as their competitors. As a result, the acclaimed human resource techniques are promoted as the optimal fit for all organizations worldwide.

When businesses consolidate their processes, their human resource practices cease to be competitive. They lose their differentiation from competitors. One may argue that adopting best practices assists them to achieve better success in their operations, allowing them to reach their goals more quickly and effectively. Concurrently, other businesses employing the same method will do the same. If there is room for expansion and attainment of all firms' aims, this scenario is favorable. The finite nature of many resources, however, makes competition more intense. A competitive advantage arises from a limited spectrum of unstandardized abilities. Historically, businesses have sought to standardize their individuality in order to obtain more bureaucratic control. This returns them to their original places, where they have no safeguards to protect their operations against the conclusion. An rise in rational thinking within businesses leads to an increase in irrationality in managing people.

Japan can provide an example from the actual world. Japanese multinational corporations are transitioning away from being suppliers of lifetime employment (Lui et al., 2004). They are reorganizing their operations to accommodate slow economic growth and globalization. In addition, they are adapting their human resource strategies to reflect worldwide systems. As a result of managers being educated at globally renowned schools, the strategies for managing people are becoming increasingly uniform worldwide (Lui et al., 2004). While businesses have diverse operations, the same generation of management introduces identical procedures, and eventually all businesses adopt the same global perspective. It does not imply that universal approaches are superior and effective for every organization. However, since management staff have the same education and mindset, they are hesitant to use untested procedures. Firms want credibility in a global operating environment, which is the primary reason they imitate the human resource practices of other businesses (Clegg et al., 2011).

Avoiding high levels of uncertainty is a further reason for adopting similar institutional approaches. In order for humans to stay predictable and controlled, businesses want them to act like machines and discard their hierarchy of demands. This permits the firm to respond to the severe global competition. This raises the internal complexity of a given organization. To maintain a highly homogenized workforce, a company must continuously recognize and eliminate the distinctive qualities of its people. As it offers new management methods, it allows individuals to express themselves in new ways.

Research by Lui et al. (2004) confirms the contradictory nature of the idea to use human resource best practices to improve an organization's performance. Firms adopt best practices in human resource management because they want legitimacy and hope to equal the competitive capabilities of their competitors, as evidenced by the preceding discussion. The adoption of these techniques may also be motivated by the desire to achieve competitive advantages that other companies in their regions and markets have yet to adopt. This strategy suggests the eventual adoption of the same human resource management procedures across the entire market. As businesses adopt the best practices, they are faced with the fact that their returns and performance will only grow marginally. Moreover, any favorable returns will be temporary. Overall, the adoption will not result in significant performance enhancements. A manager who adopts human resource best practices in an effort to boost performance is making the incorrect decision. According to the resource-based view hypothesis, for businesses to succeed with their human resources and gain a competitive advantage, they must pursue unique methods for human capital development (Lui et al., 2004).

The anticipation of line supervisors

While changes occur at the organizational level and organizational leaders embrace new approaches, line managers bear the most responsibility for ensuring that staff conform to new regulations, adopt new working methods, and produce performance outcomes based on new performance parameters. In addition, line managers must work with all newly hired staff, regardless of their suitability for certain tasks. In huge businesses, line managers have no authority over the composition of the workforce and can only recommend shift changes or terminations. Unfortunately, they bear the greatest risk of losing their position when subordinates fail to succeed.

The function of human resource departments continued to evolve over the past decade to reflect some of the developments highlighted in the preceding sections of this study. Meanwhile, line managers have faced the problem of ensuring that the adopted strategies align with the organization's values and goals. When human resource departments delegate daily people-related duties such as recruitment and performance measurement, as well as coaching, to third-party services and organizations that provide the same services, firms can increase their emphasis on their main business. After some time, they understand that the line managers are now responsible for people-related duties. However, the company is disadvantaged if the roles of line managers are not updated to reflect the new roles. The human resources department's reduced bureaucracy remains a cover for performance. The deterioration of human capital is accelerated by the increased job demands placed on line managers notwithstanding stagnating job definitions and recommendations. In addition, the outsourcing company loses control over the daily people-related tasks and must develop additional bureaucratic structures, such as rules, policies, and procedures, to ensure that employees sourced and trained by third-party service providers can perform their jobs according to the expectations of the employing organization.

Line managers resent the additional burden of training and administering employees who come to the organization with new techniques and routines. Although the organization may benefit from having

Lego Group Comprehensive Report Cheap Essay Help

Table of Contents
Introduction Problems with Lego Group The Lego Group Needs Assessment Identifies Lego Group Solutions Risk and Return Evaluation of Lego Group Identification of Lego Group's Impact Conclusion of Lego Group's Reassessment of Solutions References

Introduction

This management report is a compilation of data and recommendations upon which Lego Group's management can base crucial business decisions. Business intelligence is one of the primary components of this report and a crucial success factor for any organization. It has the categories corporate issues, needs assessment, solutions, risk and reward assessment, impact identification, and reevaluation of solutions. This study is intended to help the organization comprehend its business processes and how they might be enhanced. The organization must be able to standardize processes across all departments for the adoption of innovations to be successful. Managers must comprehend all firm activities and functions, and know-how is conveyed through a number of distinct ways. This report is crucial for making educated decisions, lowering expenses, and identifying new business prospects. Managers of the Lego Group will be able to discover inefficient business processes for reorganization with its assistance.

Problems with Lego Group

The regulation of business processes, i.e., their description and standardization, is important for the Lego Group, which is considering a digital business transformation to reach a new level. This section examines the fundamental business process issues that must be resolved within the context of their primary analysis, regulation, and formalization. When assessing business processes, the first step is to segregate them from one another and create a system where there are no uncovered activity areas. Even more essential is that the formalization of business processes enables the corporation to identify the business's bottlenecks: at which phases delays and problems occur more frequently and what causes these issues. It affords the opportunity for more precise and efficient solutions.

The Lego Group features an effective and adaptable organizational structure that encourages the development of individual initiative and inter-unit cooperation. Employees actively contribute to the company's positive environment. The management of Lego Group adapts to the demands of the moment and the organization's requirements. This is consistent with a strategy targeted at achieving sustainable growth, quality enhancement, development, and innovation (Galliers et al., 2020). Despite its many benefits, the company faces a number of obstacles, such as the absence of a pervasive approach to quality management that allows not only the avoidance of damage and efficiency of production processes, but also motivation and process approach.

The Lego Group aspires for a management style that promotes corporate morale and healthy employee connections. In addition to delegating authority for quality management and responsibility allocation, the organization conforms with production technology and legislation. The organization takes a rigorous approach to training individuals who change resources in order to minimize the possible harm caused by their actions. However, there is no improvement of the quality management process within the organization. Lego Group is minimally involved in the analysis of consumer response and does not employ complex, patent-protected quality management technology that is optimally matched to the given circumstances. The management of the company disregards quantitative approaches for determining quality. It necessitates the continued development of solutions that could be more efficient and, for instance, eliminate industrial injuries or reduce them as near to zero as possible.

The Lego Group's management issues are directly tied to its business activity organization concepts. The organization focuses on the management of specific risks that are fundamental to its operations and failure to respond in a timely manner to which could jeopardize its future growth. The rejection of the ideological and value components of the items brought to market, the original network principle of the sales organization, and the emphasis on the hunt for innovative solutions are examples of such dangers. Lego Group adheres to the policy of minimizing risk if it is impossible to eliminate it entirely (Galliers et al., 2020). Diversification, localisation, planning, and effective monitoring of the market's reaction to certain acts serve to reduce it. As a consequence of the adoption of a risk-taking strategy, specific risks are mitigated in the first instance by securing assets, amassing financial reserves, and enhancing competitive advantages.

Based on the company's current quality management capabilities, the following solutions are available: In the field of quality management, it is essential to implement the 5C model or its equivalents in order to promote initiative, independence, and self-actualization, therefore limiting excessive administrative influence. Utilizing rating scales and methods for computing differentiated, complex, and single quantitative indicators will also enhance the quality of management (Kerr et al., 2019). Implementing the concepts of the concept of total quality management or its equivalents will make it possible to display the quality management process using a system of secondary indicators. Despite the adequate organization of operations, Lego Group must build a technology for the gradual enhancement of quality.

The corporation should consolidate its market positioning and enhance the competitive components of its products, particularly the value offer. Active reserve funds are required to offset future losses and unanticipated expenses. The organization must have authority over the observance of strategic provisions, mission, vision, and multidirectional objectives (Galliers et al., 2020). In addition, Lego Group should restructure the organization to be more adaptable to changes in the external environment and monitor the maintenance of performance and efficiency levels.

To avoid quality management challenges, the company must focus on strengthening organizational capacities, especially the capabilities of employees, to involve them in the decision-making process about organizational issues. Lego Group should strive to establish a structure in which employees are emotionally invested in the company's growth ambitions. By emphasizing the effectiveness and productivity of employees at every level, the organization will strengthen its position (Kerr et al., 2019). Strategic change is characterized by an emphasis on values and conduct. A set of values or principles that constitute the business culture and control the behavior of employees should be articulated by the top management. Since employee motivation and engagement are components of the human resource management system, they can be differentiated as the primary indicators of the quality of an organization.

The Lego Group's strengths include a strategy to improve product quality, working conditions, and occupational safety, as well as the processes and organizational structure that enable them to achieve their objectives. To remove management problems, employees must be actively involved in detecting and resolving concerns. Engagement is crucial for establishing partnerships, trust, and dedication, which are important for achieving long-term change. A healthy learning organization is the greatest approach for a company to achieve its long-term goals. Thus, knowing the motivation and engagement of staff can contribute to the development of a decision-making support system at the human resource management level of a company.

The Lego Group Requirements Analysis

Business analysis will promote change inside an organization by identifying needs and offering solutions that benefit all stakeholders. It will enable the organization to assess needs, justify changes, and design and describe solutions that can be advantageous. This section establishes Lego Group's basic concept and requirements and then translates those requirements into suggested solutions. The requirements of stakeholders serve as a bridge between business requirements and other types of solution requests. They are designed and specified based on an assessment and examination of requirements.

The Lego Group's one-of-a-kind method of consumer contact is one of its most important success factors. It is the second-largest toy producer in the world and a privately held Danish business. There are almost 18,000 employees worldwide, representing 70 different nationalities (El Sawy et al., 2016). With the assistance of 120 designers, concept selection and product development take place at the Lego headquarters in Billund (El Sawy et al., 2016). The corporation is not afraid to take chances in its pursuit of new product formats and varieties. Despite its prosperity, Lego Group occasionally experiences rough times. However, it is crisis conditions that motivate the company's managers to build competitive and profitable plans. This article is to explore the needs of clients in regard to Lego Group management challenges.

In 2017, the Danish toy manufacturer experienced a decline in performance and production. 2017 revenues decreased to $5.8 billion from $6.3 billion. 2017 income decreased 18% to $ 1.7 billion (Bals &Turkulainen, 2017). This situation arose due to the liquidation of inventory and a decline in sales in Europe and North America. It was determined that the business of the organization required a shift. At the same time, the company's prospects on the Chinese market improved. In 2017, sales in China increased, which had a positive impact on the Lego Group's annual profit (Bals &Turkulainen, 2017). The corporation is expanding into new areas, particularly Asia. Thus, the profit from sales climbed by 4% in 2018 relative to the same period in 2017. Comparing 2019 to 2018, global sales climbed by 5.6%, and market share increased in the major markets (Bals &Turkulainen, 2017). This implies a positive rising trend in regard to clients' wants and the performance level increase.

The organization has invested in growing its geographical reach in 2019. It completed the year with 140 stores in 35 locations and with new business relationships. It has expanded its presence on e-commerce platforms and achieved a growth rate of double in China. To address the needs of its customers, Lego Group wants to open 220 stores in 40 cities by the end of 2020. China continues to be the company's top priority market, thus it continues to invest in this growth area. According to company representatives' observations, buyers loved the new store concept, which focuses on the real experience of playing with toys. In particular, visitors can not only gather miniature display constructors but also become intimately acquainted with the desired set before purchasing it. In order to meet the needs of its customers, Lego Group intends to considerably increase its annual performance in 2020, particularly on the Chinese e-commerce platforms JD and Tmall.

In 2019, the company's sales figures were stronger than in 2018 due to the refreshed retail concept. Last year, revenue increased by 6% to 5 billion EUR, while net income increased by 3% to 1 billion EUR (Kaipia & Turkulainen, 2017). As the new Lego website begins to provide its first encouraging results, online sales have increased by 27%. Outsourcing is the most important tool for the company's growth and expansion of the team's professional skill set. The company's performance can grow by up to 10 to 15% when non-core operations are outsourced (Kaipia & Turkulainen, 2017). However, outsourcing should not be considered as a solution just for non-essential or poorly understood tasks. Occasionally, outsourcing essential competencies can free up additional time and substantially improve staff productivity and effectiveness. This approach will allow the organization to avoid wasting time on unimportant chores and focus on the main objective.

The targeted performance must be based on the company's long-term objectives. Stability is an important objective that can be attained by excellent planning, continual stable production, and the implementation of new technologies (Kaipia & Turkulainen, 2017). The company's efficient and adaptable organizational structure must allow for the growth of individual initiative. The working environment must be favourable to the growth of the company and instill in employees a sense of dedication, which is created by fostering departmental collaboration. Staff planning must ensure that each department has the qualified workers essential to address the company's demands. The development of training programmes for all staff categories should be based on a needs analysis (El Sawy et al., 2016). In accordance with these training goals, the company will collaborate with employees who seek to obtain extra training that will benefit their work. As an alternative to outsourcing, increasing the credentials of the workforce and altering their roles are viable options.

Today, Lego Group relies heavily on outsourcing for the speedy creation of projects. It enables the organization to considerably enhance its market position, as well as its financial performance and employee productivity. The company intends to expand its presence in emerging markets. It sees significant business possibilities in China, where sales are expanding rapidly. Long-term growth prospects are also bolstered by the level of confidence in the organization exhibited by its stakeholders. Thus, in order to satisfy the needs of additional customers, the performance level must increase. The revenue should increase by double digits, which can be accomplished through outsourcing and improved employee performance.

Solutions Identification for the Lego Group

Once the organization is aware of the difficulties and requirements, it is essential to identify the flow of each process and consider ways to improve and optimize it. A business frequently wastes resources and employee time due to redundant and repeated tasks that may be avoided. This section outlines the solutions to the identified problems, as well as ideas for removing hurdles and limits that prohibit the organization from maximizing the solutions' benefits.

The world's largest manufacturer of Lego toys, a Danish corporation, has long been recognized as both a manufacturer and retailer of plastic construction sets. The company's aim for market dominance compels it to increase production efficiency and product quality. Lego Group should enhance performance, quality management, working environment, and occupational safety in order to resolve management concerns. In addition, the company's systems and structure must be enhanced in order to achieve its desired objectives. This article seeks to identify and offer solutions to Lego Group management difficulties.

First, high worker productivity demands a high level of industrial automation processes. It presupposes highly skilled and well-trained service people who would enhance performance. To tackle this issue, time and money must be invested in the training and development of the staff. There is a need for more training for all line managers and engineering professionals. A mechanism for training personnel on the job should also be developed. The perfect motivation for individuals who have made substantial results at work is conferences and training courses (Porter et al., 2016). It is essential to offer workers with more information to encourage their continued education.

Employees who continually examine their activities can observe and document their professional development. Any job objective can be

Know-How: Definition And Concept Of Know-How Cheap Essay Help

Know-how is the technical knowledge that enables a person to perform a task easily and effectively (Blackwell, 1951). Know-how is used to separate those with the abilities and knowledge necessary to complete a task. It also separates people who lack the necessary skills. A person with well-defined talents and expertise that are typically difficult to transmit to another individual. Knowledge is an essential aspect of managerial practice. An organization that recruits its employees must hire the most qualified candidates. This pertains to talents and expertise. The technical expertise that is frequently present in an organization aids in its operation and achievement of its objectives (Brockman & Morgan, 2003). Employees of a specific company should be willing to exchange information vital to the organization's operations. Information is essential to any company because it facilitates problem-solving. Employees should be able to communicate with all management levels. In this situation, staff should have a well-defined communication channel. By exchanging information, employees can assist the organization in achieving its goals and objectives. This information cannot be shared. Therefore, the individual in possession of such information is judged competent. Typically, such knowledge is acquired through mentorship and the accumulation of experience (Ahuja 2012). The necessary channels for communicating this information should be established. In this instance, this will aid in fostering stronger organizational working relationships.

Know-how refers to the abilities and information that individual can acquire while performing a specific task (Sax 2010). These abilities can be transferred from one person to another through sharing and communication. The appropriate technical knowledge distinguishes personnel who can perform a particular activity with minimal supervision from those who cannot. This can also be viewed in terms of people who already know what they are doing, as well as others who lack the required abilities to perform the activity correctly. In every business, the need for a particular position should be based on the technical knowledge and the individual's capacity to perform the task independently (Carroll 1983). Having the proper job skills will ensure the safety of employees and other individuals. In this instance, employee safety is improved without compromising the moral norms of the workplace. A person with the necessary abilities can operate the machinery most efficiently. This ensures the organization's high production. In turn, this ensures the organization's profitability. Abilities and technical knowledge of a certain function or method can be a value to the individual and the company as a whole (Kauffman 1993).

Ability refers to an individual's willingness to perform a specific task with minimal assistance from external influences. Given the individual's skills, it is possible for him or her to carry out the assignment. These talents may be taught or learned, and are therefore very helpful. Typically, these abilities are crucial to accomplishing a certain activity. For instance, computer analysts and developers require a great deal of knowledge regarding the operation of computer hardware. This is intended to produce software that integrates nicely with computer hardware and achieves the desired outcomes. Therefore, they should be able to do a particular activity in which they serve as legal providers of the information (Conner 1991). A person's skill should be aimed toward enhancing the technical knowledge associated with a work. Individuals should prioritize information exchange inside their organizations, since this will improve their management and administration.

Knowledge within a given firm should be shared so that experienced employees can serve as mentors to freshly hired workers. The newly employed workers will be able to acquire the necessary skills. This will enable staff to properly carry out their jobs and obligations with minimal assistance. Therefore, management should manage their employees effectively. In this instance, the employees will be essential to the organization's success in achieving its aims and objectives (Garicano 2000).

The know-how may comprise information that a person has learned over time regarding the solution of a particular problem (Cooke 2000). Normally, skills are learned in the course of doing a certain operation, as they describe the operation's process, which follows a particular protocol. This is intended to guarantee that all operations actions adhere to the standards. Thus, technical knowledge of a specific process is essential to comprehending the problem's requirements (Dale 1999). A person is judged capable of performing a given activity if he or she possesses the skills and information necessary to complete the task in accordance with the stipulations (Christiansen & Baird 1998).

A leader's position in an organization should be of the utmost importance for effective management. In this instance, the leader is accountable for the workforce. Thus, it is necessary to monitor the sharing and transmission of knowledge and skills via information channels (Berry & Fristedt 1985). The management of information within an organization should be the common responsibility of its members. In this circumstance, employees should participate in some decision-making processes. Here, employees are able to communicate their contributions to the leader (Chandra & Shastri 1998). The management of the firm should allocate appropriate resources for the purpose of increasing the abilities of employees, thereby generating substantial motivation. Employees who are more educated and empowered carry out their duties. A manager of a company should also be resourceful and willing to share his or her knowledge (Holsapple 2003).

Information sharing should be encouraged in all organizations since it enables employees to acquire valuable skills and information. One person might share learned skills and information with other employees because they are a necessary resource for an organization's market success. Through experience, an individual can gain a range of skills. In this instance, it is possible to internalize the practical skill specified in the job description. As part of one's recollection of a particular experience, acquired skills are beneficial to an individual's life since they can be recalled in times of need. Through such channels, employees can transfer knowledge within an enterprise (Ahuja 2012). In current times, the dissemination of information is accomplished by the touch of a button. Here, the internet has facilitated the rapid dissemination of information.

Reference

Ahuja, IS. (2012). Exploring the impact of the effectiveness of overall productive maintenance techniques in manufacturing enterprises.

Berry, DE & Fristedt, B 1985. Chapman and Hall, New York, Bandit Problems: Sequential Assignment of Experiments.

Blackwell, D., "Comparative experiments" Second Berkeley Sympos. in Math and Statist, published by the University of California Press in Berkeley.

The role of existing knowledge in new product innovativeness and performance, Admin. Sci. Quart., vol. 34, no. 2, 2003, pp. 385-419.

A frustrating pursuit for perfection. Harvard Business Review, volume 61, number 6, pages 78-88, 1983.

Competitiveness of Indian manufacturing: conclusions of the 1997 manufacturing futures survey, Vikalpa, volume 23, number 3, pages 25-36, 1998.

Christiansen, CM, and Baird, B. (1998). Cultivating innovative capabilities. Booz-Allen & Hamilton. Boston's Harvard Business School Case 9-698-027.

Do we have a new firm theory? J. Management, vol. 17,no. 1, pp. 121-154.

Implementing TPM in plant maintenance: some organizational hurdles. International Journal of Quality & Reliability Management, volume 17, number 9, pages 1003-16, 2000.

Dale, BG 1999, Managing Quality, Blackwell, Boston, MA.

Garicano, L 2000, Hierarchies and the organization of knowledge in production, J. Political Econom., vol.108, no.5, pp. 874-904.

Holsapple, CW 2003, Handbook on Knowledge Management, Springer-Verlag, Berlin.

The Origins of Order: Self-Organization and Selection in Evolution. New York: Oxford University Press, 1993.

SAX, G., "HAVING KNOW-HOW: INTELLECT, ACTION, AND RECENT WORK ON RYLE'S DIFFERENCE BETWEEN KNOW-HOW AND KNOW-THAT," Pacific Philosophical Quarterly, vol. 91, no. 4, pp. 507-530, 2010.

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Economic And Psychological Incentive Mechanisms Cheap Essay Help

Table of Contents
Introduction General Context of the Problem Conclusion: Incentive Mechanisms for Consumer Interest Generation References

Introduction

Marketing has a crucial role in shaping customer perceptions. In turn, consumer perceptions influence the purchasing behavior of several services and products. Multiple incentives are employed by organizations and businesses to influence people's perspectives, motives, and economic decisions, despite the fact that sales are viewed as the outcome of customers' choices. In the present day, when market rivalry is enormously fierce, incentives have become the primary stage of promotion, and businesses exert significant effort to attract and influence prospects. This article examines a specific issue in the Vietnamese market involving the reluctance of citizens to acquire domestic smartphones. The objective of the job is to examine the issue and recommend economic and psychological incentives that can be used to alter the motivations and behaviors of customers.

General Context of the Problem

In Vietnam, the growth of the local mobile industry and the production of smartphones are, in general, commercially viable. Over the past several decades, the nation has relied heavily on factory jobs, but it is now "moving up the value chain into electronics" (Jennings, 2019, para. 1). Using the country's inexpensive labor, Samsung has already invested over $17 billion in manufacturing in Vietnam (Jennings, 2019).

As a result of these foreign investments, Vietnamese specialists have acquired the necessary components, materials, and expertise to manufacture their own cellphones. In the meantime, the majority of young people use cellphones for numerous purposes, including information search, communication, social networking, and entertainment. Moreover, public schools and universities emphasize the value of science. There is a widespread notion in the country that graduates working for foreign technology companies have superior expertise of the production of high-quality phones.

In fact, local businesses have made numerous attempts to develop an adequate product. In 2017, Bkav Corp., a Vietnamese technology company, created the country's first smartphones, Bphone and Bphone 2. (Jennings, 2019). Although these models received bad reviews and only 12,000 units were sold due to a lack of strong marketing campaigns, market research, and appraisal of customer demand, they paved the way for the development of the mobile business in the country (Jennings, 2019).

As a result, the water resistance and processing speed of the 2018-released Bphone 3 earned overwhelmingly excellent reviews from specialists. Moreover, Vingroup, the Ho Chi Minh City-based conglomerate owned by the country's wealthiest man, Pham Nhat Vuong, is currently marketing a new brand named Vsmart at an accessible price (Jennings, 2019). Moreover, it intends to surpass well-known Chinese companies on the Vietnamese mobile market.

Despite the fact that Vietnamese spend a large amount of money on mobile phones, they do not purchase local brands. According to current market research conducted by analytical firms, Vietnamese consumers spent about VND28 trillion on smartphones in the first quarter of 2018. (Kim, 2018). Despite the fact that incomes in Vietnam rarely reach $170 per month, this amount grew in comparison to the same period of the previous year (Jennings, 2019). At the same time, "the money was not spent on Vietnamese products, and Vietnamese brands' market share has shrunk dramatically" (Kim, 2018, para. 2).

In actuality, Vietnamese consumers prefer internationally recognized and popular foreign brands at the same or even higher rates. According to market analysts, in 2019 only 1% of cellphones sold in Vietnam were manufactured locally (Jennings, 2019, para. 8). Although this share of Vietnam's smartphone market has climbed to 5% by 2020, it cannot be compared to Samsung's 42.8%, Oppo's 23.2%, or Xiaomi's 6.5% shares, respectively (Jennings, 2019). In addition, as social networks rise in popularity, the new generation of Vietnamese is more concerned with brand awareness and prestige than with the technical aspects of the items. A surge in consumer expenditure is anticipated to increase people's interest in international products in the future.

Incentive Mechanisms for Consumer Interest Generation

It goes without saying that financial incentives may be viewed as preeminent in respect to Vietnam's mobile market. Customers will be encouraged to purchase handcrafted goods if pricing are reasonable. Despite the fact that the majority of Vietnamese firms do not target the low-priced market, they often sell their handsets for around $100. (Jennings, 2019). As market rivalry is immeasurable, however, it is essential to investigate the needs of local smartphone users in order to manufacture and promote them effectively. As international smartphone manufacturers are aware of the spending power of Vietnamese consumers, they keep prices low enough to encourage purchases (Jennings, 2019). In general, a large majority of individuals value price over brand provenance.

Likewise, it is crucial that Vietnamese receive a high-quality smartphone. Local buyers typically consider a smartphone's operating system, camera, battery capacity, and display (Jennings, 2019). People will purchase Vietnamese brands if they offer the lowest prices and highest quality for their products. Additionally, the microeconomic concept of the price's fairness must be taken into account in this instance (Pindyck & Rubinfeld, 2018).

Foreign smartphone companies that are well-known throughout the world include the worth of their names in the price of their smartphones, and the majority of consumers consider this to be unjust. As there is no requirement to spend for brand recognition, domestic enterprises should offer smartphones with the same price but superior quality compared to those of international names. Customers will choose phones manufactured in Vietnam if their prices are reasonable, as they will pay for a higher-quality product rather than a foreign brand name.

In microeconomics, customers with complete knowledge of a product's price and quality buy things "so as to maximize their satisfaction within a budget constraint" (Pindyck & Rubinfeld, 2018, p. 713). Consumer demand, according to a core theory, is governed by three essential assumptions:

Customers have expertise and distinct preferences for certain things over others; Customers have budgetary limits. Customers choose things that optimize their enjoyment, taking into account limited incomes, tastes, and costs (Pindyck & Rubinfeld, 2018).

People are not always motivated by external economic incentives, despite the fact that these assumptions may appear sensible. Consumers can make decisions based on their particular quirks, emotions, values, and beliefs, as well as other interior motivations, even if these actions are monetarily unprofitable. In order to modify people's behavior for their own profit and increase sales, businesses should take psychological incentives into account and employ the right procedures.

The Vietnamese's reluctance to purchase domestically produced smartphones stems in part from their sensible and irrational conviction that the bulk of imported items are of higher quality than domestic ones. This trend is most pronounced among young Vietnamese who associate smartphone brands with their social well-being. In other words, people believe that owning a smartphone manufactured by a globally known firm will increase their sense of social involvement, enhance their image, and elevate their social position.

According to observers, the Vietnamese pro-foreign-brand smartphone trend began almost twenty years after its Chinese counterpart (Jennings, 2019). With an increase in money, people initially began to purchase foreign electronics, food, and wine. However, they eventually reverted to domestic products and now "exhibit patriotism by shopping locally" when quality is assured (Jennings, 2019, para. 13).

In the not-too-distant future, the similar trend of returning to the domestic product and increasing national feelings is anticipated in Vietnam. In addition, although an individual's reference point may vary, the socialization process is characteristic of Vietnamese society in terms of the formation of decision-making-relevant behavioral patterns and knowledge (Pindyck & Rubinfeld, 2018). People are more likely to purchase a certain smartphone if their families, friends, peers, coworkers, and public influencers use it and provide positive comments. In order to attain leadership positions in the Vietnamese smartphone market, native technological companies must comprehend and accept this consolidation.

However, local smartphone brands should also contribute to the change in consumer behavior by creating a positive image that encourages people to purchase devices made in Vietnam. First and foremost, successful brands are market competitors. In order to attract customers when Chinese and Korean enterprises are able to purchase products with robust features, Vietnamese producers must focus on ongoing innovation and improvement. In reality, the major accomplishments of domestic enterprises are already evident. According to Vsmart deputy CEO Tran Minh Trung, "even though Vsmart phones use Android operating system, Vsmart's software engineering department adapted the original Android operating system to create a VOS operating system with features tailored to Vietnamese consumers" (Jennings, 2020, para. 5).

These Android-based smartphones are more efficient than other Android-based devices. Additionally, they offer free calls between Vsmart devices and free messaging between Vsmart devices (Jennings, 2020). Another model, the Joy 3 phone, has a 6.5-inch screen, a Snapdragon 632 processor, a three-rear camera cluster system, and an 8MP front-facing camera; it costs $98 per unit (Jennings, 2020).

In addition, when consumers see that Vietnam's technical brands are reputable and trustworthy, they will modify their attitudes on local smartphones and alter their purchase habits. To ensure their credibility, businesses may collaborate with the country's largest government and private institutions. For example, Vinsmart, a subsidiary of Vingroup, joined the smartphone "universalization" program of the Vietnamese Ministry of Information and Communications and supplied handsets for roughly $22 each in exchange for preinstalled programs and cellular packages (Jennings, 2020).

The corporation exhibits its concern for consumers, their comfort, and their budgetary restraints through this activity. In addition, it intends to develop its own ecosystem for client acquisition in partnership with Viettel, a domestic telecommunications company (Jennings, 2020). Vinsmart is establishing a strong partnership with Google for the integration of Android-powered operating systems into its devices.

Vietnamese will be more inclined to purchase domestic products if they are as renowned and well-known internationally as international companies such as Samsung, Oppo, Huawei, Xiaomi, and Apple. It goes without saying that the most efficient way for local businesses to increase their visibility is to distribute their products worldwide. In fact, the main Vietnamese smartphone manufacturers have already begun to address this issue. Vinsmart has reportedly inked a contract with BQ of Spain to market four smartphone models under the Vsmart brand (Jennings, 2019). Future Vietnamese initiatives should include forming a collaboration with the world's leading smartphone merchants and expanding online shopping with international shipping.

Moreover, the expansion of internet commerce is crucial for Vietnam to reach domestic consumers. It facilitates the application of economic and psychological incentive systems more effectively than offline selling. As a countrywide chain of convenience stores, malls, housing developments, and resorts, Vingroup has considerable prospects for offline smartphone sales (Jennings, 2020).

In addition, the corporation has already given away over 100,000 smartphones to residents of Vinhomes-branded properties (Jennings, 2020). Generally, 85 percent of purchases in Vietnam occur offline; however, this fact necessarily restrains sales as indigenous companies become uncompetitive, particularly under the pandemic's conditions (Jennings, 2020). However, the offline smartphone market is quite important, and anchoring can be used to increase sales of domestic handsets (Pindyck & Rubinfeld, 2018). For instance, sales associates may offer Vietnamese cellphones to consumers in order to limit their options and influence their selection.

The rise of online shopping and the launch of efficient marketing campaigns would assist Vietnamese smartphone manufacturers in altering consumers' preferences through the application of specific economic laws. In fact, this decision-making is heavily influenced by previous market experience, past product use, and the purchasing situation (Pindyck & Rubinfeld, 2018).

A effective marketing effort for cellphones manufactured in Vietnam must address not only client preferences but also packaging. It can be defined as "the tendency to base decisions on the context in which a choice is described" (Pindyck & Rubinfeld, 2018, p. 716). Given the desire of a large proportion of Vietnamese to purchase foreign items, it is false to assert that Vietnamese smartphones are inexpensive. Instead, alternatives should be framed as follows: "Vietnamese smartphones combine globally recognized quality with affordable prices." Nonetheless, quality should become the focal point of home appliances.

In addition, rules of thumb can be used to internet retailing. In microeconomics, they allude to buyers' ability to disregard "seemingly unimportant information" (Pindyck & Rubinfeld, 2018, p. 720). In online stores, prices for Vietnamese equipment may be reduced, or permanent discounts may be offered. People will disregard shipping expenses and other additional expenditures since domestic goods will have more appealing offers. In contrast, if delivery for cellphones manufactured in Vietnam is free, people will be extremely interested in purchasing, even if prices stay the same as in-store. In fact, individuals may feel more at ease if they save time and avoid traveling throughout the city in quest of a desired equipment.

The promotion of Vietnamese smartphone manufacturers could be greatly aided by online product reviews from consumers who have previously purchased devices. Online reviews, which are seen as helpful sources of pre-purchase information, help consumers feel more confidence about their purchasing decisions. Prior to their initial purchase of a smartphone model, a significant proportion of Vietnamese consumers choose to study internet evaluations and ratings. In addition to their direct impact on sales, internet reviews contribute to a company's success by fostering a positive image.

Conclusion

In Vietnam, the growth of the local mobile industry and the production of smartphones are commercially viable. The nation that has relied on factory labor for the past many decades now possesses all of the required technologies, resources, and abilities. In fact, local businesses have made multiple successful attempts to develop an adequate product. However, Vietnamese consumers do not purchase locally labeled goods and prefer internationally recognized brands.

For this reason, Vietnamese businesses must pique consumers' interest and convince them to purchase local goods. Prior to focusing on quality and innovation, prices should be affordable and fair for average-income Vietnamese. In addition, they should improve online retailing, execute efficient marketing campaigns that take into account framing and best practices, and establish a positive image of Vietnamese cellphones as dependable and recognizable worldwide.

References

Jennings, R. (2019). Vietnam continues to manufacture its own smartphones, so why doesn't it sell them? Forbes. Web.

Jennings, R. (2020). The Vietnamese smartphone brand intends to steal market share from Chinese competitors. Forbes. Web.

Kim, C. (2018). What is the outlook for cellphones manufactured in Vietnam? Vietnam Insider. Web.

Pindyck, R. S., & Rubinfeld, D. L. (2018). Microeconomics (9th ed.). Pearson.

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IKEA: Company Analysis Cheap Essay Help

IKEA sourcing chain

1- A bullet-pointed SWOT analysis of the Ikea supply chain.

S W

Customers are acquired to a significant extent by IKEA; Continuous introduction of innovations into the supply chain; Consistent and coherent integration of the supply chain; Substantial market presence; Good standing; Diverse product and service offerings.

Due to a global-scale approach, the control of standards across locations is quite lax; the emphasis on revenue is reducing quality.

O T

Continued development into other markets; Sales growth via internet platforms Cost leadership – as clients are typically unconcerned with the quality of IKEA's products; Attract customers that favor ecologically responsible items.

Competitors imitate the low-cost business strategy; The average income of customers increases to climb, which necessitates the demand for premium products. Increasing competition in a variety of domestic markets

2- Porter's Five Forces model for Ikea's supply chain presented as bullet points.

Supplier power

The suppliers' bargaining position is relatively weak. Although the number of suppliers is substantial, their small size and limited financial opportunities prevent them from possessing sufficient influence. IKEA may easily swap from one supplier to another. Suppliers must adhere to IKEA's regulations, or they may be eliminated.

Buyer power

As a group, purchasers wield considerable influence. IKEA is committed to acquiring and retaining customers. Low prices and adequate quality are elements that moderate purchasers' power.

Threat of replacement

There are few replacement offer threats. The threat is mitigated by brand reputation, cheap costs, and the wide availability of items.

Possibility of fresh arrival

The threat is minimal. New competitors may enter the market without having a significant impact on IKEA's company. The majority of home furnishing companies are modest businesses. Low entry barriers exist; nonetheless, it is difficult to remain competitive in the industry.

Competitive rivalry

There are numerous competitors. Numerous branded stores sell home furnishings. IKEA's competitive advantages allow for moderately high levels of competition.

Figure 1: The value chain for the Ikea supply chain as bullet points Principal activities Logistics inbound

Inbound logistics is the key driver of corporate value creation.

IKEA purchases raw materials and commodities from around 1,200 suppliers; Inspection of materials and items in advance

Operations

Franchise, Property, and Finance are the three operational divisions, with Finance being the most important; Decentralization plan; Implementation of new technologies.

Outbound operations

Distribution and storage from around 400 stores; 28 distribution centers. The customer is liable for transport expenses.

Marketing and sales

Advanced advertising; Efficient internet sales channel; Substantial use of a paper catalog.

Items and services

Poor Customer Support; Convenient Online Support. Extensive selection of goods.

Support technological endeavors

The primary function of digital technologies. Expenditures on digitalization. Production automation initiatives.

HRM

Opportunities for career progression are available. IKEA acknowledges the importance of employee growth.

Infrastructure

Developed a store location system. Effective global and regional administration.

Procurement

Collaboration with about 1800 suppliers;

Focus on long-term strategic alliances.

4-General context for the Ikea supply chain, presented as bullet points

The foundation of IKEA's vision is an efficient supply chain. Cost-effective furniture design. Consistent supplier relationships Because customers assemble things, packaging expenses are reduced. Utilization of in-store logistics personnel for inventory management. Customers select their own furniture and get their own parcels.

Avocado distribution

1- SWOT analysis of the Avocado supply chain presented as bullet points.

S W

increased demand for avocados Profitable business

Due to their specific harvesting technique, avocados require an expensive cold supply chain (particularly low temperatures).

O T

Numerous causes of rising demand Numerous national markets to enter

Increasing rivalry from international firms Climate change that impedes growth

2- Porter's Five Forces model for the Avocado supply chain shown as bullet points.

Supplier power

High supplier power. Avocado-selling retailers are highly reliant on growers. Typically, suppliers impose their conditions to retail organizations.

Buyer power

Buyer influence is average. Avocados must be of great quality for consumers. Avocado suppliers must oversee the chilly supply chain.

Threat of replacement

Avocado is a unique product with a low risk of substitution.

Possibility of fresh arrival

The threat is minimal. High costs throughout the supply chain. Entry barriers are high.

Competitive rivalry

Competition is intense. A huge number of formidable opponents. Value chain for the Avocado supply chain, shown as bullet points

Figure 2: The value chain for the avocado supply chain as bullet points Principal activities Logistics inbound

High standards for incoming logistics; low transport temperatures.

Operations

Operations apply mostly to communication between suppliers and retailers; competitors have a comprehensive system of operation processes.

Outbound operations

Low quantity of warehouses; the need to initially transport avocados from plantations to retail stores.

Marketing and sales

Poor marketing; several online offers.

Items and services

1. Unique and exclusive product.

Support technological endeavors

The insignificance of technological advancements

HRM

Importance of HR professionals' credentials

Infrastructure

A sophisticated routing mechanism between retailers and providers;

Procurement

Globally robust strategic cooperation relations. 4-General context for the Avocado supply chain, presented as bullet points

In recent years, the demand for avocados has expanded significantly. The primary importer is the United States. There are only a few locations where avocados can grow year-round. Customers are particular about the avocados they purchase. Caring for avocados on the tree and harvesting them are essential steps in the supply chain.

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Walmart: Commercials’ Role In Affirming A Significant Brand Cheap Essay Help

Table of Contents
Introduction Body Conclusion Bibliography

Introduction

Sam Walton created Walmart in 1962 in Rogers, Arkansas, to give affordable pricing to customers at any time and in any location. It is a large retail chain that has expanded over the years by opening stores across the United States and by penetrating overseas markets such as those of Canada, Mexico, China, and the European Union. The expansion has been attributable to its adaptable advertising, which, depending on the timeframe and the actual consumer environment, corresponds to existing client needs. Branding has also contributed to Walmart's survival and expansion by assuring the company's adaptability to a variety of environmental, political, social, and cultural issues. To expound on branding and the prevailing popular culture upon which the latter advertisement is founded, it is necessary to compare and contrast the advertisements of 2000 and 2019. A comparison of the two campaigns will provide insight into the commercials' function in reinforcing Walmart's status as a big brand.

Main body

There is a notable distinction in the company's advertisements throughout the years. Two advertisements with contrasting themes include “Always low pricing at Walmart,” which ran in 2000 to emphasize gender norms, and “Always low prices at Walmart,” which ran in 2003 to promote diversity. It differs from the 2019 grocery pickup campaign (“Planet Earth II Continues: Official Trailer”), which had a theme based on legendary film cars. The advertisement from 2000 features a lady and her four children shopping for various products. She applauds the establishment for offering fresh groceries, clothing, shoes, and toys at reasonable costs under one roof. The lady also mentions that they are on a tight budget and that Walmart is the greatest alternative for their family of four children owing to the prices of the goods and the variety of products so she can save money. It is fair to conclude that Walmart attracts to its clients by allowing financially-strapped families to purchase all vital necessities under one roof at an inexpensive price, hence centering the advertisement on a commercial component.

In contrast, the 2019 advertisement features iconic movie automobiles to promote the collection of online grocery orders. The campaign depicts the delightful moment when employees carry customers' groceries into their vehicles. The automobiles are from well-known films, so people may quickly identify with them. Among them are the batmobile from Justice League, Ecto-1 from Ghostbusters, K.I.T.T. from Knight Rider, Lightning McQueen from Disney Pixar Cars, Bumblebee, Wagon Queen Family Truckster, and the Mutt Cutts van from Dumb and Dumber (“Introducing Our Largest Walmart Grocery Pickup Campaign”). The commercial targets moviegoers, and so relates to the automobiles featured. The crucial consequence is that the corporation prioritizes shopping convenience over price for its clients.

The two adverts use distinct elements and target customers in various ways. The 2000 commercial is set during a time when women had special responsibilities, therefore articulating current gender conventions. The woman is overburdened by her responsibilities, particularly caring for her four children, of whom three are triplets. Therefore, Walmart saves her time and fits her family's budget, allowing her to spend less on other necessities. The 2019 advertisement for grocery pickup involves the gathering of online orders. The presence of a young couple at the collecting point contrasts with the previous advertisement, which depicted simply the mother shopping with her children.

The campaign educates consumers about the convenience of online food shopping. Customers are required to select things online, as opposed to physically searching for each item in their aisles. Other features demonstrated include the convenience and speed of shopping at Walmart, as well as the fact that everyone is accommodated regardless of the type of vehicle they drive, demonstrating that both the young and the elderly can enjoy the service regardless of their particular family circumstances. The 2000 advertisement was unequivocal in that the woman shopped for her family. In contrast, the 2019 advertisement gives consumers the opportunity to buy things without regard to their family structure and the members of the various units.

The 2000 and 2019 advertisements emphasize affordability and convenience to both present and prospective clients, hence establishing the brand's significance. Each advertisement was created to help buyers relate to the current trend. The 2000 advertisement targets the lady, who has four children at the time and is therefore overburdened with child care, by supplying all the necessary items at a low cost. As a result, the family unit, the fundamental unit of society, was granted a respite by the enterprise. The digitalization of the shopping arena in 2019 raises the bar for commercials, providing clients with the convenience and ease of purchasing remotely. The usage of well-known movie cars merged the entertainment culture across the United States to ensure that the organization is in tune with the current needs of customers, particularly millennials.

As stated by O&#82 The four distinct types of branding are cultural, emotional, viral, and mind-share. Significant components of society, such as gender inequality and racial prejudice, are utilized in cultural branding. Advertising focused on cultural branding generates a myth revolving around a specific characteristic, so elevating the company to iconic status because the majority of people can relate to the circumstance presented. Emotional branding determines the proper feelings to evoke from a product in addition to its exterior use. Viral branding is dependent on the rapid dissemination of the brand as customers share it. It depends on the numerous social media channels now available. In addition, mind-share branding conveys a specific message regarding the benefits of a product or organization, hence associating the feature with the brand.

Both advertisements fall under the heading of cultural branding. The advertisement from 2000 centered on socially imposed gender stereotypes. One can deduce that childcare and shopping are women's responsibilities. The 2019 advertisement is differentiated by its usage of iconic iconography to attract people. It emphasizes the move from societal conceptions to gender standards and is based on Hollywood films to which many people may connect. While collecting groceries at the pickup stations, consumers can recognize and portray ease, quickness, and convenience through the use of iconic cinema cars. It indicates that clients will receive additional perks in addition to their orders. For instance, the attendants load already-packed orders into the cars. Since a result, there is efficiency, as clients are certain that they will not be delayed because their items are prepared.

Popular culture is a central element in advertising in order to facilitate consumers' ability to relate to products or businesses. For instance, the 2019 television commercial was entertaining because it featured iconic cinema automobiles. Despite the fact that television commercials are not popular culture, their content portrays a key popular culture subject to aid comprehension and leave a lasting impression on viewers. The selection of various renowned films and the incorporation of Hollywood during the commercial's filming to guarantee that all key vehicles were present imply that it was based on a work of fiction. This crucial feature is aimed at the younger demographic that is familiar with movies and prefers online purchasing over physically visiting businesses to select the necessary things.

The usage of popular movies automobiles in the advertisement alienates the older generation, who prefers a tactile shopping experience when buying goods online. Consumers are more hesitant to trust online suppliers since they are uncertain of the quality of the products and the dependability of the transaction. The advertising does not guarantee safe and secure shopping, which would have made the target audience more comfortable with the campaign. In addition, the rapid speed causes safety concerns because certain items fall out of the vehicles.

Conclusion

Branding has been a significant factor in encouraging and sustaining Walmart's growth and development over the years. Comparing ads from 2000 and 2019 demonstrates that advertising has been modified to serve a variety of customer needs and meet their existing requirements. To ensure that clients can relate to the 2019 advertisement, the corporation chose a concept centered on legendary movie cars from iconic flicks.

Sources Cited

Walmart's International Expansion: Successes and Miscalculations, by Irma Hunt et al.

Journal of Business Strategy, volume 39, number 2, 2018, pages 22-29.

Introduce Our Largest Campaign for Walmart Grocery Pickup. Walmart, 2019.

William M. O’Barr's Project MUSE The Administration of Brands. ” Muse.Jhu.Edu, 2007.

Trailer for Planet Earth II: Official Trailer.

2016 YouTube video uploaded by BBC Earth.

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Metallgesellschaft AG Company’s Financial Crisis Cheap Essay Help

Outline

Financial crisis is a typical occurrence in modern society and businesses. To contain and manage the financial crisis, several solutions, frameworks, ideas, and policies are being developed. This article will examine the financial situation of Metallgesellschaft AG in greater detail (MG). In this case study, the paper will discuss the following topics:

What happened to Metallgesellschaft AG (MG) and why are described in brief. What risks did MGRM face as a result of its forward contracts and use of derivatives – whether MGRM was hedging or speculating on the oil industry's entry barriers?

Business Description

Metallgesellschaft AG (MG) is a metal company that was formed by a conglomeration of various German organizations, such as Deutsche Bank, Dresdner Bank Kuwait Investment Authority, and others. Metallgesellschaft AG was originally a traditional metal company that was later transformed into a provider of risk management services.

MG Refining and Marketing Inc. (MGRM) is responsible for the manufacture and distribution of refined petroleum products in the United States. (Culp and Miller, pages 62 to 76)

Case Analysis

In 1993, MGRM experienced a severe financial crisis, with reports that the corporation lost more than a billion dollars. In 1991, Mr. Arthur Benson, who had been recruited from Louis Dreyfus Energy Company, introduced the company to derivative methods. The corporation engaged in several financial operations, including the sale of its gasoline and heating oils at fixed prices beginning in 1992 and continuing for a decade. Although initially appealing, it was not a suitable alternative, as some of the contracts included a clause allowing clients to terminate the arrangement if they believed future contracts with the New York Mercantile Exchange would be priced higher than the fixed price for MGRM products. This conjecture by MGRM over the relationship between distant and nearby prices resulted in a significant drop in its cash flows. (Culp and Miller, pages 62 to 76)

Possible dangers of MGRM

In its efforts to run its business, MGRM faced a number of hazards. First, they found a means for their customers to avoid or transfer the risk associated with the price of oil, given the volatile nature of the markets for petroleum products. They believe that their financial resources provide them an advantage in selling in huge volumes and handling the transfer of risks as efficiently as feasible. This involved utilizing a hedge approach to assess price risks in the immediate future. (Jorion).

Also, it implies reducing the months of delivery, which was crucial for the organization from an economic standpoint. Second, they faced the basis risk, which involved the time of money circulation required to maintain the hedge, and they had to maintain a balance between the two during the duration of the hedge. In addition, the placement of oil products was problematic because they were located far from where they were to be traded. (Edwards, pages 189-215) Thirdly, MGRM faced the finance risk wherein they lacked the funds to maintain their current standing. Due to the importance of this risk management plan to the achievement of the firm's primary objectives, all company members must possess a thorough understanding of it. MGRM faced the rollover risk as well. This occurred as a result of MG's oil market transition from backwardation to contango. On the oil market, future prices are inevitably lower than current prices. The term for this is backwardation. Contango is a market movement in which the current price is less than the future price. If the oil market experienced a prolonged contango, rollover losses would be substantial. This would require them to purchase at a very high cost and distribute at a relatively cheap cost. If the hedging period had been longer, say more than a year, it is assumed that MGRM would have suffered enormous losses. Edwards, pages 189-210

Creditors' reluctance to support MGRM as a result of its lengthy periods of hedging and declining energy prices contributed to the company's credit risk. This implied that the difference between present and future fixed prices would be very substantial. The quantity and timing of MGM’s rollover trades had an effect on the aforementioned risks, as the ten-year period over which the futures contracts were spread was too long, given that the oil market is prone to volatility and so anything is possible. The rollover occurred at an improper time. If Benson had created this option a few months earlier, it would have worked well for the company. However, had MG waited a few more months before terminating them, they would have been able to balance their losses.

Speculating versus Hedge

MG negotiated with its counterparts to sell its petroleum products for a period of ten years at predetermined pricing. In contrast, consumers could opt out of the contract if spot cash prices were higher than future pricing. The corporation was hedging its position by extending its near-month futures and spreading them over months, i.e. the stack and roll approach. This hedging technique could have been successful only if prices had increased, which would have resulted in increased client demand. MG hedged its exposure to heating oil and gasoline. This prompted it to get into a contract with an over-the-counter energy swap in order to generate cash flow to offset the fixed rates. This compelled MGRM to hedge against the rising oil prices. (Mello and Parsons, pp. When MG entered into the fixed rate pricing average state of around 160 million oil barrels, they were speculating. This size was so huge that it posed a significant risk to the organization. If oil prices were to drop substantially, MG would be forced to incur enormous losses. MG's usage of financial instruments contributed in some way to its issues. In Germany, LCM accounting is favoured as opposed to the U.S. method of accounting. This meant that although MG was generating money in the United States, it was losing money in Germany. Since NYMEX imposed a required margin on MG, MG's rivals had to raise additional funds to maintain their swap status. (Kyle, pp. 13-35).

Corporate Policy

The usage of short term futures contracts while the distribution agreements were long term caused a difficulty for MG because they had to be replaced after a short period. In addition, the petroleum products were located far away from where the transaction was to occur. This resulted in basis risk. A benefit of adopting derivatives is that a company's NPV (net present value) can be discounted on its revenues, making them greater than its operating expenses. When compensating for a sudden drop in pricing or increase in costs, hedging is more cost-effective. Therefore, the use of derivatives was inevitable. (Mello and Parsons, pages 106 to 200)

Communication Failure

MG's communication with the Supervisory Board regarding the MGRM's strategy was inadequate. It is unclear what prompted the Supervisory Board of MG to terminate MGRM's futures contracts, but it appears to have been based on the claim that MGRM's strategy, which was heavily exposed to credit and rollover risks, did not provide the desired benefits. It is still plausible that MGRM did not comprehend MG's objectives, which is why it devised its own corporate strategy to conduct its business, and that this lack of comprehension ultimately led to its demise. (Jorion).

The conclusion of MGRM

MG's Supervisory Board was not required to terminate MGRM's assets since from December 1993 to August 1994, crude oil prices grew from $13.91 to $19.42, heating oil prices rose from $18.51 to $20.94, and gasoline prices rose from $16.88 to $24.58 per barrel. This means that had MGRM remained a little longer, they would have been able to offset their losses, but it appears that this was not the case. Nonetheless, if prices had continued to fall instead of rising, MGRM would have sustained far greater losses than it already had. This makes it difficult to determine whether or not the MG's timing in terminating MGRM was appropriate. (Mello and Parsons, pages 106 to 200)

Conclusion

MG's failure should not be attributed to its use of derivatives, but rather to a lack of communication between the two parties, particularly about MGRM's corporate strategy. Nonetheless, MG's Supervisory Board would have given MGRM an opportunity to flourish or fail.

References

Hedging a flow of commodity deliveries with futures: lessons from Metallgesellschaft, Culp, C., and M. Miller. 1994, pp. 62-76, Journal of Applied Corporate Finance. F. Edwards and M. Canter The demise of Metallgesellschaft: unhedgable risks, inadequate hedging strategy, or plain bad luck, Journal of Future Markets, 1995, pp. 15, 211-64. Edwards, F. Hedge funds and the demise of Long-Term Capital Management, Journal of Economic Perspectives, 1999, pp. 189-210. 1999. Jorion, P. Lessons in risk management from Long-Term Capital Management. Continuous auctions and insider trading, Econometrica, vol. 53, pages 13-35, 1985. Mello, A., and J. Parsons, "The maturity structure of a hedge matters: lessons from the Metallgesellschaft catastrophe," Journal of Applied Corporate Finance, 1995, pp. 106-200. C. Pirrong, "Metallgesellschaft: a prudent hedger ruined, or a wildcatter on NYMEX," Journal of Futures Markets, Vol. 17, No. 4, pp. 543-578, 1997.

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A Solution To Currency Bull Spread Strategy Cheap Essay Help

Table of Contents Regarding Bull Spread Worksheet Future spot rate Bibliography

According to Bull spread, the bull spread is a proven investing technique whose objective is to enable an investor to profit from an increase in the price of a certain security (Madura 2010). It is formed by purchasing during periods of low pricing and selling when prices have significantly increased. According to (Becker, 2010), the success of a bull spread, like any other currency combination strategy, is totally contingent on time.

The amount of gains realized is determined by an investor's ability to recognize and purchase the optimal combination, and to hang on until the price is about to or has already began to fall. There is an issue in analyzing market trends. This issue demonstrates the need for a guide in the bull spread strategy. In this work, I want to develop a better informed answer to the currency bull spread strategy based on past attempts at achieving the same objective.

To arrive at a dependable answer for my workout, I took the effort to comprehend the bull spread approach. Subsequently, I chose a few representative scenarios and studied the variations in time and cost. I formed a pattern of monetary combinations based on my observations. I drew a conclusion based on this pattern, which suggests a viable bull spread strategy solution. To assist us in arriving at a solution, I have organized this paper into the systematic sections mentioned above. The first is a bull spread account. Second, we use a situational example of a real-world environment to observe emerging patterns. Finally, we use the depicted pattern to form a conclusion and likely design a remedy for currency bull spread.

Regarding Bull Spread

According to Bull spread, bull spread is a dependable investing technique whose objective is to enable investors to profit from an increase in the price of a certain security (Leroux 2010). This exercise either involves puts or calls. In this context, "call" refers to the right to purchase a security at a specified price on or before a certain date. In contrast, a put is the right to sell a securities at a specified price on or before a specified date (Ebert 2010).

The naked long call is among the most straightforward bull strategy. It entails purchasing an option without a hedge. This method is predominantly employed with the expectation that the price of a securities will skyrocket. The bull spread is the alternative strategy. The bull spread, like the naked long call, operates based on anticipated price highs for the underlying asset. It is less dangerous. However, according to (McMillan, 2010), it is a reward-limiting approach when the stock price is too high. Timing has been cited thus far as the difficulty in the bull spread. It is tough to determine when to hold on, call, or put. Additionally, it is difficult and required to anticipate a "reward-limiting situation" and be able to avoid it. Using a straightforward situational example, we can find a solution to these otherwise interminable problems.

Consider an example of a situational bull spread. Assume a market with two call options denominated in U.S. dollars. (US$) available. One of the options has an exercise price of $0.51.2 and a premium of $0.015.2. The other option has a strike price of $52 and a premium of $0.0012. A bull spreader purchases the $0.51.2 call option and sells the $0.52 call option. In this scenario, an option contract on US dollars is worth 40,000 units.

As a result of the dollar's appreciation to $.51.6, the bull spreader earns a profit by selling dollars he purchased at $.51.2 for $51.6. Additionally, he earns a premium on the second option originally written, while not exercising it.

per unit per agreement

The selling price is US$ +$.51.60 $.25800 ($.516 multiplied by 40,000 pieces).

-Purchase cost of -$0.51.2 -$25,600 ($0.51.2 multiplied by 40,000 units)

-Paid premium for call option -.015.2 -.760 ($15.2 multiplied by 40,000 units)

+Premium received for call option +.002 +600 ($0.012 multiplied by 40,000 units).

= Net gain $.008 $40 ($.008 multiplied by 40,000 units)

Note that if the bull spreader had just purchased the first option, he would have suffered a loss.

The value of the dollar rises to $0.56. The bull spreader will exercise the option he bought, but the option he sold will also be exercised by an unidentified buyer. If he sells the USD acquired with the first option and purchases USD, he must sell the USD to the buyer of the second option at the spot rate. The summary of his cash flow is given below.

per unit per agreement

A sale price of USD +$0.56 $.28000 ($0.56 multiplied by 40,000 pieces)

-Purchase cost of USD -.51,2 -$25,600 ($.51,2 multiplied by 40,000 units)

-Premium paid call option -.15.2 -760 ($15.2 multiplied by 40,000 units).

+Sale price of USD +$.52 +$26000 ($.52 multiplied by 40,000 pieces)

-Purchase cost of USD -.56 -28000 ($.56 multiplied by 40,000 units).

+Premium collected for call option +.12 +600 ($.12 multiplied by 40,000 units)

Profit net $0.004.8 $.300 ($.4.8 times 40,000 units)

The bull spreader is limited to a net profit of $004.8 regardless of how high the USD's value rises. This is a clear observation and point to understand. This is due to a "cancel out effect," as defined by (Jeff 2009). Secondly, the bull spreader cannot reap any opportunity costs outside of the tradeoff.

The USD falls to $.49.6 per unit. Neither of these call options will be exercised, as they are both out of money. In this instance, the spreader's net profit is depicted below.

per unit per agreement

-Paid premium call option -$.015.2 -$.760 ($.15.2 multiplied by 40,000 units)

+Premium received for call option +$0.012 +$600 ($0.012 multiplied by 40,000 units).

= Net Income -$.003.2 -$.160 ($.003.2 multiplied by 40,000 units)

It is feasible to generate a worksheet and a graph based on the example data provided above.

Worksheet

Value of USD at expiration of the option

$.48 $.51.2 $51.6 $.52 $.56

Buy call -$.015.2 -$.015.2 -$.011.2 -$.007.2 +$.032.8

Sell call +$.012 +$.012 +$.012 +$.012 -$.028

Net -$.003.2 -$.003.2 +$.008 +$.004.8 +$.004.8

The relevant graph is shown below.

Future spot rate

According to the preceding worksheet and graph, the maximum loss is constrained by the two option premiums. In addition, earnings are restricted to the difference between strike prices. The break even point is the sum of the lower exercise price and the difference in option premiums.

As previously said, constructing a currency bull spread with put option is as simple as with call option. The fundamental computations involved in both exercises adhere to the same ideas as described in the work of (McMillan, 2010).

Conclusion. According to (Ziegler, 2008), success in currency bull spread is contingent on an individual's skill in timing proper decision making. This skill is not innate; it must be learned. In light of this, a conclusion can be reached through a thorough examination of currency combination data. The conclusion is essentially the answers we want regarding timing and good decision making in the currency bull spread area.

Bibliography

Becker, "Currency Trading," New York Times, Online Forex, 2010. Web.

2008, M. Ebert. "Stocks." Investment concerns. Print.

Leroux. "Bullish strategies." Print version: The options guide journal 67 (2010): 33-37.

2010. Madura, J. "International Financial Management," 9th Edition, South Western CENGAGE: 154-166. Web.

Lawrence G. McMillan, "Options as a Strategic Investment." New York Institute of Finance, website, New York, 2010.

Ziegler."Market Watch." Web. The Wall Street Journal, volume 18, number 2009, pages 64-68.

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Mexico Cheap Essay Help

1.0 Introduction

1.1 Introduction to the report

This report is going to describe the main features of Mexico, including background information, geographical features, politics, economy and social indicators.

1.2 Background of Mexico

Mexico is the cradle of various highly developed Amerindian civilizations, including the Olmec, Maya, Toltec, and Aztec (Country Watch, 2014).It is also the most populous Spanish speaking country in the world (Baird et al, 2009; Country Watch, 2014). It was conquered and colonised by Spain for three centuries and declares its independence in 1821 (Baird et al, 2009; CIA, 2014). In 1836, Mexico lost Texas and from 1846 to 1848 after the Mexican War of territory flight with the U.S., it lost the territory in the northern Rio Grande (Boardman, 2006; Infoplease, 2005). In 1994, The North American Free Trade Agreement (NAFTA) takes effect among Mexico, the U.S. and Canada (Scholastic, 2014; O’Neil, 2014).

2.0 Geographical features

2.1 Location & size

Mexico is located in the North America, between the northern border with the United States (3,141 km) and southern border with Belize (250 km) and Guatemala (962km), as well as bordering the North Pacific Ocean, the Caribbean Sea and the Gulf of Mexico (Baird et al, 2009; CIA, 2014; STRATFOR, 2012). It is fully accessible by air, sea, car, taxi, bus and passenger train (Baird et al, 2009; Frommer’s, 2014a; Frommer’s, 2014b; Visit Mexico, 2012).

Mexico is vaguely less than three times the size of Texas and ranked 14 in the world (CIA, 2014). The total surface area is 1,964,375 square kilometres which is compounded of 1,943,945 sq km land area and 20,430 sq km water area (CIA, 2014). It also has a total of 9,330 km coastline (CIA, 2014).

Map 1. Map of Mexico. Source: CIA (2014)

2.2 Weather & time zone

Mexico’s climate varies from tropical to desert in accordance to its varied geography (see map2) . It has two main climate seasons: rainy (May to mid-Oct) and dry (mid-Oct to Apr) (Frommer’s, 2014c). Hurricane season (June to October) affects weather on the Yucat??n Peninsula and the southern Pacific coast (Frommer’s, 2014c).

There are three time zones in Mexico: the Northeast, the Pacific and Central time zone (see map3).

Map 2. Climate Zones of Mexico (ERM, 2014)

Map 3. Mexico time zone map (Time temperature, 2014)

3.0 Social indicators

According to HDI 2012, Mexico is a high human development country in terms of life expectancy, education, and income (UNDP, 2013). However, there is still a high degree of income inequality and disproportional benefit from the economy growth among certain socio-economic groups such as health care (Leiner et al, 2012; Mckee and Todd, 2011; Ruiz-Beltran and Kamau, 2001; Van Ginneken, 1979). According to the World Bank (2014f), more than half of Mexican live at national poverty line. The uneven geographical spread of benefit from economic growth is due to rapid urbanisation (Durr, 2012; UN data, 2014).

4.0 Economic indicators

The economic indicators below illustrated a steady growth of the country’s economy (see table 1). However it doesn’t reflect the income distribution and real currency value within a country such as urban/rural.

Mexico is a one of the ten largest oil producer and exporter in the world (EIA, 2012). Since NAFTA takes effect, intraregional trade has multiplied from roughly $290 billion in 1993 to over $1.1 trillion in 2012 (O’Neil, 2014). United States is Mexico primary export partner account for 78 percent of total exports and they share a 2,000-mile border (CIA, 2014; BWHA, 2013; O’Neil, 2014). The main industries in Mexico are food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables and tourism (CIA, 2014; IHS Global, 2013; Wilson, 2008).

2009 2010 2011 2012 Source

GDP per capita (current US$) 7,691 8,885 9,717 9,749 World Bank (2014d)

Gross national income per capita, PPP (current international $) 13,800 14,600 15,800 16,450 World Bank (2014e)

Table 1 Summary of economic indicators

5.0 Politics

Mexico is a federal republic, governed by the Institutional Revolutionary Party (CIA, 2014). It consists of 31 states and 1 federal district of which is also the capital, Mexico City (CIA, 2014).

Since 2010, Mexico has plagued by rampant violence and crime (Baird et al, 2009; BBC, 2013; Country Watch, 2014; Gov.uk, 2014; STRATFOR, 2012; Watt and Zepeda, 2012).Narco-trafficking is one of Mexico’s biggest sources of revenue, as well as its most crime with over 12,000 drug-rated executions in 2011 (Baird et al, 2009; Watt and Zepeda, 2012). The new president announced a new national police force in early 2013 due to increasing concern of security. However, it will take several years before it takes effect (BMI, 2014).

6.0 Conclusion

Mexico is relatively accessible with rich natural resources such as oil, as well as its diverse cultures. It has excellent economic performance. However, its economic benefit is disproportionally spread. Moreover, its economy is too dependent on the U.S. market. The other major concern is its security.

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Reconnaissance attacks in IPv6 networks essay help for free

2.1.1 Reconnaissance attacks in IPv6 networks

The 1st larger attack in IPv6 is usually a reconnaissance attack. An attacker try reconnaissance attacks to get some confidential information about the victim network that can be misused by the attacker in further attacks. For this he uses active methods, such as scanning techniques or data mining strategies. To start, an intruder begins to ping the victim network to determine the IP addresses currently used in the victim network. After getting some of the accessible system, he starts to scan the port to find out any open port in the desired system. The size of subnet is bigger than that of the in IPv4 networks. To perform a scan for the whole subnet an attacker should make 264 probes and that???s impossible. With this fact, IPv6 networks are much more resistant to reconnaissance attacks than IPv4 networks. Unfortunately, there are some addresses which are multicast address in IPv6 networks that help an intruder to identify and attack some resources in the target network.

2.1.2 Security threats related to IPv6 routing headers

As per IPv6 protocol specification, all of the IPv6 nodes must be able to process routing headers. In fact, routing headers can be used to avoid access controls based on destination addresses. Such action can cause security effects. It may be happen that an attacker sends a packet to a publicly accessible address with a routing header containing a ???forbidden??? address on the victim network. In such matter the publicly accessible host will forward the packet to the destination address stated in the routing header even though that destination is already filtered before as a forbidden address. By spoofing packet source addresses an intruder can easily perform denial of service attack with use of any publicly accessible host for redirecting attack packets.

2.1.3 Fragmentation related security threats

As per IPv6 protocol specification, packet fragmentation by the intermediate nodes is not permitted. Since in IPv6 network based on ICMPv6 messages, the usage of the path MTU discovery method is a duty, packet fragmentation is only allowed at the source node.1280 octets is the minimal size of the MTU for IPv6 network. The packets with size less than 1280 octets to be discarded unless it???s the last packet in the flow as per security reasons. With use of fragmentation, an attacker can get that port numbers not found in the first fragment and thus they bypass security monitoring devices expecting to find transport layer protocol data in the very first fragment. An attacker will send a huge amount of small fragments and create an overload of reconstruction buffers on the victim system which resulted to the system crash. To prevent system from such attacks it???s necessary to bound the total number of fragments and their permissible arrival rate.

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WMBA 6000-13 Topic: Course Evaluation college essay help los angeles

WMBA 6000-13

Topic: Course Evaluation

Date: March 2, 2014

Based on the assigned readings for this course (Dynamic Leadership), I have read an enormous amount of information about the different categories of leaders and leadership styles. Today’s leaders are different from the leaders of twenty to fifty years ago. In the past leaders gave commands and they controlled the actions of others. Today leaders are willing to involve others in their decision making and they are more open to new possibilities.

A good leader has a vision for their organization and they know how to align and engage employees in order to promote collaboration. The successful leader knows how to lead by using superior values, principles and goals that fit the organization’s values, principles and goals. Also these leaders know that leadership is not made from authority, it’s made from trust and followership. Coleman, J., Gulati, & Segovia, W.O. (2012)

I am impressed most by the characteristics of the authentic leader because they know how to develop themselves; they use formal and informal support networks to get honest feedback in order to drive long-term results. Authentic leaders build support teams to help them stay on course and counsel them in times of uncertainty. George, B., Sims, P., Mclean, A.N. & Mayer D. (2007)

In addition, I found the Leadership Code to be important because it provides structure and guidance and helps one to be a better leader by not emphasizing one element of leadership over another. Some focus on the importance of vision for the future; others on executing in the present; others on personal charisma and character; others on engaging people’; and others on building long-term organization. The code represents about 60 to 70 percent of what makes an effective leader. Ulrich, D., Smallwood, N., Sweetman, K. (2008)

The information that I acquired from this course will help me to pursue the goal of owning a beauty supply business. Another goal that I can add to my action plan is to include not only wigs and welted hair, but I will add hair, skin and nail products to my inventory. A future goal will be to add handbags and accessories as well.

After completing my short-term goal of finishing my MBA, I can take the knowledge from this course along with my values, ethics and principles to help me to manage employees and operate a successful business. Annie Smith (March 2, 20

Coleman, J. G. (2012). Educating young leaders. Passion and Purpose , 197-202.

George, B. S. (2007). Discovering your authentic leadership. Harvard Business Review , 129-138.

Lyons, R. (2012). Dean of Haas of School of Business University of California, Berkely. It’s made from followership. (J. G. Cole, Interviewer) Coleman, J., Gulati, D., & Segovia, W.O.

Ulrich, D. S. (2008). Five rules of leadership. In The leadership code five rules to lead by. Defining Leadership Code , 1-24.

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Family presence during CPR (cardiopulmonary resuscitation) cheap essay help

In a pre-hospital setting, there are few moments that are as intense as the events that take place when trying to save a life. Family presence during these resuscitation efforts has become an important and controversial issue in health care settings. Family presence during cardiopulmonary resuscitation (CPR) is a relatively new issue in healthcare. Before the advent of modern medicine, family members were often present at the deathbed of their loved ones. A dying person’s last moments were most often controlled by his or her family in the home rather than by medical personnel (Trueman, History of Medicine). Today, families are demanding permission to witness resuscitation events. Members of the emergency medical services are split on this issue, noting benefits but also potentially negative consequences to family presence during resuscitation efforts.

A new study has found that family members who observed resuscitation efforts were significantly less likely to experience symptoms of post-traumatic stress, anxiety and depression than family members that did not. The results, published in an online article in The New England Journal of Medicine, entitled ‘Family Presence during Cardiopulmonary Resuscitation,’ were the same regardless of the survival of the patient. The study involved 570 people in France whose family members were treated by emergency medical personnel at home. These EMS teams were unique in that they were comprised of a physician, a nurse trained in emergency medicine, and two emergency medical technicians. The study found that the presence of relatives did not affect the results of CPR, nor did it increase the stress levels of the emergency medical teams. Having family present also did not result in any legal claims after the incidents occured. While the unique limitations of the study warrant consideration, the results show a definite benefit in having families stay during CPR (Jabre Family Presence).

Historically, although parents of children have been allowed to be present for various reasons, relatives of adult patients have not. As medical practices change to increasingly involve family in the care of patients, growing numbers of emergency medical practitioners say that giving relatives the option of watching CPR can be a good idea. Several national organizations, including The American Heart Association, have revised their policies to call for giving family members the option of being present during CPR (AHA Guidelines for CPR). Witnessing CPR, say some emergency medical experts and family members, can take the mystery out of what could be a potentially terrifying experience. It can provide reassurance to family members that everything is being done to save their loved ones. It also can offer closure for relatives wanting to be with their family members until the last minute (Kirkland Lasting Benefit). Another benefit is that it shows people why reviving someone in cardiac arrest is much less likely than people assume from watching it being done on television (Ledermann Family Presence During). Family members who can truly understand what it means to ‘do everything possible’ can go on to make more informed decisions about end-of-life care for themselves or their families.

There are three perspectives on this issue- that of the emergency medical personnel providing care, the family, and the patients. The resistance on the part of the medical community to family presence during CPR stems from several different concerns. The most common concern among these is that family members, when faced with overwhelming fear, stress and grief, could disrupt or delay active CPR. Another concern raised by emergency medical personnel is that the realities of CPR may simply be too traumatic for loved ones, causing them to suffer more than they potentially would have if they had never witnessed the event. Some families share this view, citing the potential for extreme distress as a main reason for not wanting to witness resuscitation (Grice Study examining attitudes). Many emergency medical personnel also fear an increased risk of liability and litigation with family members present in the room (Fullbrook the Presence of Family). The worry is that errors can occur, inappropriate comments may be made, and the actions of the personnel involved may be misinterpreted. In an already tense situation, the awareness of the family could increase the anxiety of the personnel and create a greater potential for mistakes.

Another complication that arises from having families present during resuscitation attempts is that of patient confidentiality. The patient’s right to privacy should not be circumvented with implied consent. There is always the possibility that medical information previously unknown to the family may be revealed in the chaos of resuscitation. In addition, patient dignity, whether physical or otherwise, may become compromised (Fullbrook the Presence of Family). Beyond moral considerations, legal concerns regarding revealing patient information are real. This could become an even larger issue if there is no one available to screen witnesses, which could result in unrelated people gaining access to personal information. Eventually, a breach in confidentiality can lead to a breach in the confidence that the public has gained in pre-hospital emergency care.

Family presence during CPR in a pre-hospital setting remains a highly debatable topic. This could be largely due to the fact that the needs of the emergency medical providers and the rights of the patients can be at odds with the wishes of the family members. Although there are several possible reasons why family presence is not being welcomed into daily practice, one of the major reasons could be the lack of formal written policies that define the roles of families and providers placed into this situation. Bringing family members into a situation where CPR is being performed on a loved one should not happen haphazardly. It should happen with careful concern and support for everyone involved. Policies and protocols, defined by experienced personnel, can provide legal and emotional support. They can also potentially help ease anxiety by defining expectations and placing responsibility in the hands of people who are experienced enough to know how to handle the situation appropriately. The policies and protocols should address the basic needs of all people involved. Five basic needs should be addressed:

1. The number of people allowed to be present

2. Which relatives should be allowed to be present (age, relationship, etc.)

3. The role of the family members present and what is expected of them.

4. The place where the family should remain during the duration of CPR.

5. The formal wishes of the patient- written as a directive like a living will.

An important component of this is available, trained staff that can prepare the family members for what they will witness, support them through the event, and then direct them after the event’s conclusion.

The American Heart Association states that the goals of cardiopulmonary resuscitation are, ‘to preserve life, restore health, relieve suffering, limit disability, and respect the individual’s decisions rights and privacy’ (AHA Guidelines for CPR). The practice of offering family members the opportunity to be present during CPR is a controversial ethical issue in emergency medical services. While the results of the study published on this topic in The New England Journal of Medicine clearly show no negative side effects from having families present during resuscitation attempts, the limitations of the study lend to the need for more research before it could be universally accepted.

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Respondeat Superior need essay help

Legal claims that derive from a situation where there are claims of negligence can sometimes involve an entity other than the neglectful parties. In certain circumstances employers are fully responsible for their employees, and the tasks they perform during working hours. During the course of this paper, the doctrine of respondeat superior will be defined and explained. Two case studies in which the doctrine was applied will also be analyzed to determine if it was applied correctly.

Respondeat superior is a legal theory that holds employers responsible for any negligent or harmful act performed by an employee during the commission of their employment duties (Thornton, 2010). The Maryland Supreme Court in 1951 was the first court to utilize respondeat superior in a court case involving a question of employer liability (Burns, 2011). This doctrine is important as it holds employers liable in court cases where one of its employees does harm to an individual. Vicarious liability and indirect liability are two base concepts that make-up respondeat superior (Thornton, 2010). Respondeat superior shows that the employer did not have to be responsible for the employee???s negligent behavior, in the form of improper training or instruction to perform harmful acts, in order for the employer to be held legally responsible.

In the case of Valle v. City of Houston, the police force was sued for excessive force and an illegal search in an attempt to remove an individual from his parent???s home (Nicholl & Kelly, 2012). The situation stemmed from a man, Omar Esparza, barricading himself in his parent???s home and refusing to come out (p. 285). After a long police standoff, the SWAT team was ordered to forcefully enter the home and remove Mr. Esparza (p. 285). The SWAT team utilized taser gun and bean bag ammunition in an attempt to subdue Mr. Esparza after they felt he posed a physical threat by wielding a hammer, but as those attempts failed the suspect was fatally wounded when an officer fired his weapon (p. 286). Shortly after the incident the mother was allowed into the home, and she reported no visible evidence that her son was possession of a hammer (p. 286). The court found that the city was not liable for damages under the theory of respondeat superior, because the order to remove the individual from the home was not made by an individual deemed as a decision-maker by the city (p. 286).

From the outside, this case seems to fit the theory of respondeat superior. As the employer, the city should be held responsible for the actions of its employees. The police, serving as the city???s employees acted in a manner that was unnecessary for the situation and in conflict of their training (p. 286). However, the court sided with the City of Houston because the chain of command was not followed in regards to the use of force (p. 286). The end result is a case where an individual made a decision that was not his to make; that ultimately cost a man his life.

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Lee Greenwood And John Newton, Composers Cheap Essay Help

Lee Greenwood and John Newton are two composers that have written great works of art. Lee Greenwood is famous for the song “God Bless the USA” while John Newton wrote “Amazing Grace”. When choosing a composer to research I picked these two men because of what they songs they composed mean to me and make me feel. I have grown up with knowing the song “Amazing Grace” but did not know anything about the man who composed it or why he was compelled to write this hymn. The same for “God Bless the USA”, Lee Greenwood will always be remembered for this song but I always wanted to know why he wrote it.

Lee Greenwood is a California native born in October 27, 1947.Lee Greenwood has always had music in his life. He was in the band in high school that played pop, jazz, rhythm and Blues but eventually made his way to Nashville playing country music. Lee plays the drums, piano, saxophone, trumpet, banjo, timpani and vocals. Lee did not attend college for technical musical training, he played many different places including Nevada eventually moving his way to Nashville. Lee writes mostly country at this time but has in the past used his pop, jazz and rhythm and blues background to write songs. Many songs have been written by Lee Greenwood including: ” I.O.U.”, ” Somebody’s Gonna Love You” and ” Dixie Road”. Lee comes from a farming family and still helps out on the farm but his main source of income is music. The married the love of his life Kim and they had two boys Dalton and Parker. He is a “conservative Christian”. Lee has some significant honors in country music including Male Vocalist in 1983 & 1984 from the Country Music Association, Grammy for top Male Performance of “I.O.U.”. and in 2001 one about 18 years after he wrote “God Bless the USA” the song went number one on the pop charts (http://www.leegreenwood.com/biography).

John Newton was born in London England on July 24, 1725. John composed hymns later in life while he was ships in his younger years. John self taught himself after he left boarding school. John was also a preacher in the evangelical church. He married Mary, a women he had loved since he was a young man. While they did not have children of their own they raised their nieces. John wrote ” Glorious Things of Thee are Spoken”, ” Sinner Art thou still secure?” and ” Saved by Blood I Live to Tell” just to name a few. John was a strong advocate to abolish slavery in his later years while he did run a slave ship when he was younger.

Lee Greenwood and John Newton have several similarities. Both men have a sing relationship with their faith in God. John became an evangelical preacher and Lee is a Baptist. Lee and John have ties to the military. Lee Greenwood’s father was in the merchant Marines and Navy, this could be one of the reasons he felts so compelled to write “God Bless the USA”. Johns was in the British Navy as a young man. Throughout his stay in the Navy John has seen many different circumstances. Both men married women that were and are the loves of their lives, Lee married Kim and John married Mary.

With as many similarities that the two man had with each other they also has many differences. John was in the era of slavery. He was one of the front runners supporting to abolish slavery. Lee Greenwood was not around during this time. John Newton was a writer of hundreds of hymns while Lee Greenwood stuck with country and pop songs. John Newton’s mother died and his father remarried while Lee’s parents were divorced. Lee Greenwood also has a sister while John was an only child.

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The limitations of the Chit Acts mba essay help

1.1 BACKGROUND OF THE STUDY

The financial system assumes strategically a very important role in channelling the funds from surplus units to deficit units. The financial system here refers to the group of institutions, markets and instruments which helps in formation of capital and thus accelerates to the pace of economic development.

The base of this study stems from the fact that there exists a gap between gross capital formation and gross domestic savings in India. So, there exists the need to augment the growth rate of voluntary domestic savings. This goal can be realized by widening and strengthening the working of different financial intermediaries which will result in mobilizing savings from various income level categories. .It is in this context that the role of the Non-Banking Financial Intermediaries like Chit Finance should be appreciated in supplementing the functions of the Banking Institutions.

Chit funds are Chit funds are the Indian equivalent of the Rotating Savings and Credit Associations (ROSCA). ROSCAs are famous in many parts of the world and is seen as an instrument to ‘save and borrow’ simultaneously. ROSCAs basically started as a way to help in fulfilling the needs of the low-income households as it enables the people to convert their small savings into lump sums. The concept of chit funds originated more than 1000 years ago. Initially it was in the form of an informal association of traders and households within communities, wherein the members contributed some money in return for an accumulated sum at the end of the tenure. Participation in Chit funds was mainly for the purpose of purchasing some property or, in other words, for ‘consumption’ purposes. However, in recent times, there have been tremendous alterations in the constitution and functioning of Chit funds. A significant difference between Chit Funds and ROSCAs are that in most places ROSCAs are user-owned and organized informally, but chit funds have been formally institutionalized in India. (Chit Funds-An innovative access to finance for low income households, 2009)

1.1.1 WHAT DO WE MEAN BY CHIT FUNDS?

Chit fund is a savings-cum-borrowing instrument. The basic aim of this instrument is to pool small amount of savings by all the members which is then managed by a foreman. The foreman has the responsibility to act as a trustee-cum-supervisors for the process of collection and allotment of the pooled amount.

Chit funds represent a traditional form of saving-cum-credit institution evolved before the bank system was introduced in rural India. There are many who avail themselves of this avenue for saving for a reasonable return.

1.1 NEED AND RATIONALE OF THE STUDY

Despite the growth of a wide range of savings avenues and the widespread network of banks and other financial institutions, it has been found that Chit scheme still forms an important part in the asset portfolio of many households and firms in India and especially in South India including Karnataka. Also, the review of literature shows that there are only a few studies on Chit Finance. Therefore, the need to conduct the study stems from the requirement to understand Chit Funds in Bangalore.

1.2 NEED TO CONDUCT THE STUDY

The research titled ‘A Study on Chit Funds in Bangalore to understand the behaviour and financial needs of the chit fund members as well as to identify the important predictors of regular participation in chit funds’ The study estimates the net returns and interest rate on Chit funds. This study tries to point out the limitations of the Chit Acts and suggests feasible recommendations for improving the working of such institutions.

.3.2 STATEMENT OF THE PROBLEM

‘A Study on Chit Funds in Bangalore to understand the behaviour and financial needs of the chit fund members as well as to identify the important predictors of regular participation in chit funds’.

VARIABLES UNDER INVESTIGATION

1. Age

2. Occupation

3. Monthly income

4. Gender

5. Bank loan

6. Regular participation in chit fund

7. Membership in multiple chit schemes

8. Cause for participating in multiple schemes

9. Preferred avenue of saving

10. Preferred source of finance

11. Safety

12. Better service

13. Flexibility

14. Timely Payment

15. Low commission

16. Personal contact

17. Unregistered chit funds membership

18. Cause for participating in unregistered chit funds

19. Cause for not participating in unregistered chit fund

3.5 OBJECTIVES OF THE STUDY

3.5.1 OBJECTIVE(PRIMARY)

1. To understand the behaviour and financial needs of the chit fund members.

2. To identify the important predictors behind chit fund participation

3.5.2 OHER OBJECTIVES OF RESEARCH

1. To estimate interest rates in registered chit funds.

2. To compare the relative ratings of Chit subscribers towards registered and unregistered chit funds on

3. To estimate the return on Chit Funds.

3.6 HYPOTHESIS

There are two types of statistical hypotheses.

1. Null hypothesis

2. Alternative hypothesis.

Hypothesis 1:

H0: There is no significant relation between gender and cause for participation in chit fund.

H1: There is significant relation between gender and cause for participation in chit fund.

Hypothesis 2:

H0: There is no significant relation between occupation and cause for participation in chit fund.

H1: There is significant relation between occupation and cause for participation in chit fund.

Hypothesis 3:

H0: There is no significant relation between age and causes for participation in chit fund

H1: There is significant relation between age and cause for participation in chit fund

Hypothesis 4:

H0: There is no significant relation between monthly income and cause for participation in chit fund

H1: There is significant relation between monthly income and cause for participation in chit fund

Hypothesis 5:

H0: There is no significant relation between gender and causes for bidding in chit fund

H1: There is significant relation between gender and cause for bidding in chit fund

Hypothesis 6:

H0: There is no significant relation between occupation and cause for bidding in chit fund

H1: There is significant relation between occupation and cause for bidding in chit fund

Hypothesis 7:

H0: There is no significant relation between age and cause for bidding in chit fund

H1: There is significant relation between age and cause for bidding in chit fund

Hypothesis 8:

H0: There is no significant relation between monthly income and cause for bidding in chit fund

H1: There is significant relation between monthly income and cause for bidding in chit fund

Hypothesis 9:

H0: There is no significant relation between gender and cause for saving in chit fund

H1: There is significant relation between gender and cause for saving in chit fund

Hypothesis 10:

H0: There is no significant relation between occupation and cause for saving in chit fund.

H1: There is significant relation between occupation and cause for saving in chit fund.

Hypothesis 11:

H0: There is no significant relation between age and cause for saving in chit fund

H1: There is significant relation between age and cause for saving in chit fund

Hypothesis 12:

H0: There is no significant relation between having bank loan and membership in multiple chit schemes.

H1: There is significant relation between having bank loan and membership in multiple chit schemes.

Hypothesis 13:

H0: There is no significant relation between monthly income and participation in unregistered chit funds

H1: There is significant relation between monthly income and participation in unregistered chit funds

Hypothesis 14 :

H0: There is no significant relation between causes to prefer chit fund over bank and having bank loan.

H1: There is significant relation between causes to prefer chit fund over bank and having bank loan.

Hypothesis 15:

H0: Presence of safety, flexibility, timely payment, low commission, better service, personal contact, having a bank loan are no significant predictors of regular participation in chit fund.

H1: Presence of safety, flexibility, timely payment, low commission, better service, personal contact ,having a bank loan,are significant predictors of regular participation in chit fund.

.

3.8 SAMPLING METHOD

Members of four registered chit fund companies in Bangalore. The four registered chit fund companies were selected due to the large size of their subscriber base.

3.8.3 SIZE OF SAMPLE

150 respondents

3.9 MECHANISM OF STUDY

3.9.1 PRIMARY RESEARCH

Questions relating to behaviour and financial pattern will be found out through questionnares

3.9.2 SECONDARY RESEARCH

‘ Reports on chit fund industry

OVERVIEW OF INDIAN CHIT FUND INDUSTRY

4.1.1 NUMBER OF REGISTERED CHIT FUND COMPANIES:

According to the Ministry of Corporate Affairs, as on 31st December, 2013:

Volume of registered chit companies: 5412

Volume of chit companies in Karnataka: 703

Number of chit fund companies in Bangalore: 315

UNREGISTERED CHIT FUND INDUSTRY

Although unregistered chits are an informal source of finance but still they are a significant part of the chit fund industry. Though they are more easily accessible as compared to registered chit funds.

4.3 PURPOSE OF THE STUDY

The study titled ‘A Study on Chit Funds in Bangalore to understand the behaviour and financial needs of the chit fund members as well as to identify the important predictors of regular participation in chit funds’ attempt in The study estimates the net returns and interest rate on Chit funds. This study also examines the limitations of the Chit Acts and suggests suitable recommendations for improving the functioning of such institutions.

4.4 LIMITATION OF STUDY

‘ Unwillingness of the members to share their income and financial details made the task of data collection somewhat difficult.

‘ Collecting data became difficult since I don’t know the regional languages.

5.2 ANALYSIS OF DATA

The analysis is done on the primary data collected from 150 chit funds members in Bangalore

TESTING OF HYPOTHESES

5.4.1 Hypothesis 1:

H0: There is no significant relation between gender and cause for participation in chit fund.

H1: There is significant relation between gender and cause for participation in chit fund.

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 31.070a 16 .013

Likelihood Ratio 35.945 16 .003

Linear-by-Linear Association 8.809 1 .003

N of Valid Cases 150

a. 1 cells (10.0%) have expected count less than 5. The minimum expected count is .30.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .455 .013

Cramer’s V .228 .013

N of Valid Cases 150

a. Not assuming the null hypothesis.

b. Using the asymptotic standard error assuming the null hypothesis.

INTERPRETATION:

The value of chi-square=31.070 was p=.013, less than 0.05.

We can see that the strength of association between the variables is moderate (Phi and Cramer’s V -0.455).

Therefore, the research hypothesis that differences in ’cause to participate in chit funds’ are related to differences in ‘age” is supported by this analysis. This means that different age groups of the chit fund members have different reasons of participating in chit funds. As can be seen from the table above that those who belong to ’36-45 years’ have saving as the predominant reason to participate whereas members of other age groups do not have any dominant reason to participate.

5.4.2 Hypothesis 2:

Hypothesis 2:

H0: There is no significant relation between occupation and cause for participation in chit fund.

H1: There is significant relation between occupation and cause for participation in chit fund.

Hypothesis 3:

. Hypothesis 3:

H0: There is no significant relation between age and causes for participation in chit fund

H1: There is significant relation between age and cause for participation in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 10.018a 4 .040

Likelihood Ratio 10.478 4 .033

Linear-by-Linear Association 6.876 1 .009

N of Valid Cases 150

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .258 .040

Cramer’s V .258 .040

N of Valid Cases 150

a. Not assuming the null hypothesis.

a. Using the asymptotic standard error assuming the null hypothesis.

INTERPRETATION:

The value of chi-square=10.018 was p=.040, less than 0.05.

.We can see that the strength of association between the variables is weak (0.258)

Therefore, the research hypothesis that differences in ’cause to participate in chit funds’ are related to differences in ‘gender” is supported by this analysis. This means that males and females have different reasons of participating in chit funds. As it can be seen that males participate in chit funds for business and personal consumption purposes apart from saving whereas women predominantly participate to save.

5.4

Hypothesis 4:

H0: There is no significant relation between monthly income and cause for participation in chit fund

H1: There is significant relation between monthly income and cause for participation in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 82.176a 12 .000

Likelihood Ratio 97.665 12 .000

Linear-by-Linear Association 15.696 1 .000

N of Valid Cases 150

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .740 .000

Cramer’s V .427 .000

N of Valid Cases 150

INTERPRETATION:

We can see that the strength of association between the variables is strong (0.740)

Therefore, the research hypothesis that differences in ‘reason to participate in chit funds’ are related to differences in ‘occupation” is supported by this analysis. It can be seen that the self-employed members mainly participate to avail for business reasons whereas salaried employee participate mainly for personal consumption purposes.

Hypothesis 5:

Hypothesis 5:

H0: There is no significant relation between gender and causes for bidding in chit fund

H1: There is significant relation between gender and cause for bidding in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 66.691a 20 .000

Likelihood Ratio 43.579 20 .002

Linear-by-Linear Association 4.804 1 .028

N of Valid Cases 150

a. 1 cell (10.0%) has expected count less than 5. The minimum expected count is .07.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .667 .000

Cramer’s V .333 .000

N of Valid Cases 150

a. Not assuming the null hypothesis.

b. Using the asymptotic standard error assuming the null hypothesis.

INTERPRETATION:

The (chi-square=66.691) was p=.000, less than 0.05.

We can see that the strength of association between the variables is moderately strong (0.667)

Therefore, the research hypothesis that differences in ’cause to bid in chit funds’ are related to differences in ‘age” is supported by this analysis. It can be seen that the members of age group’36-45 years’ are more interested in bidding for business related purposes where members of other age groups bid mainly for emergency needs.

5.4.6 Hypothesis 6:

. Hypothesis 6:

H0: There is no significant relation between occupation and cause for bidding in chit fund

H1: There is significant relation between occupation and cause for bidding in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 7.167a 5 .209

Likelihood Ratio 7.885 5 .163

Linear-by-Linear Association 1.120 1 .290

N of Valid Cases 150

a. 5 cells (41.7%) have expected count less than 5. The minimum expected count is .81.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .219 .209

Cramer’s V .219 .209

N of Valid Cases 150

a. Not assuming the null hypothesis.

b. Using the asymptotic standard error assuming the null hypothesis.

INTERPRETATION:

The probability of the chi-square test statistic (chi-square=7.167) was p=.209, more than the alpha level of significance of 0.05.

Therefore, the research hypothesis that differences in ‘reason to bid in chit funds’ are related to differences in ‘gender” is not supported by this analysis.

5.4.7 Hypothesis 7:

Hypothesis 7:

H0: There is no significant relation between age and cause for bidding in chit fund

H1: There is significant relation between age and cause for bidding in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 180.915a 15 .000

Likelihood Ratio 160.460 15 .000

Linear-by-Linear Association 28.379 1 .000

N of Valid Cases 150

a. 1 cell (10.0%) has expected count less than 5. The minimum expected count is .13.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi 1.098 .000

Cramer’s V .634 .000

N of Valid Cases 150

INTERPRETATION:

The (chi-square=180.915) was p=.000, less than 0.05.

We can see that the strength of association between the variables is extremely strong (1.098)

Therefore, the research hypothesis that differences in’ are related to differences in ‘occupation” is supported by this analysis. It can be clearly seen that self-employed people bid in chit scheme mostly for business purposes, salaried people for emergency needs and housewives for household purposes.

5.4.8 Hypothesis 8:

Hypothesis 8:

H0: There is no significant relation between monthly income and cause for bidding in chit fund

H1: There is significant relation between monthly income and cause for bidding in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 123.331a 35 .000

Likelihood Ratio 106.298 35 .000

Linear-by-Linear Association 4.957 1 .026

N of Valid Cases 150

INTERPRETATION:

The probability of the chi-square test statistic (chi-square=123.331) was p=.000, less than the alpha level of significance of 0.05.

We can see that the strength of association between the variables is extremely strong (.907)

Therefore, the research hypothesis that differences in ‘reason to bid in chit funds’ are related to differences in ‘income” is supported by this analysis. It can be clearly seen that low income members bid mostly for consumption reasons whereas higher income members bid for business related and emergency purposes.

SUMMARY:

Reason to bid in chit fund has the strongest association with the occupation of the chit fund members as the probability of the chi-square test statistic (chi-square=180.915) was p=.000 and the strength of association between the variables is extremely strong (1.098).

5.4.

Hypothesis 9:

H0: There is no significant relation between gender and cause for saving in chit fund

H1: There is significant relation between gender and cause for saving in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 21.702a 16 .153

Likelihood Ratio 23.775 16 .095

Linear-by-Linear Association 2.397 1 .122

N of Valid Cases 150

INTERPRETATION:

The chi-square=123.331) was p=.153, more than 0.05. Therefore, the research hypothesis that differences in ’cause to save in chit funds’ are related to differences in ‘age” is not supported by this analysis.

5.4.10 Hypothesis 10:

H0: There is no significant relation between occupation and cause for saving in chit fund.

H1: There is significant relation between occupation and cause for saving in chit fund.

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 20.510a 4 .000

Likelihood Ratio 29.038 4 .000

Linear-by-Linear Association 7.062 1 .008

N of Valid Cases 150

a. 1 cell (10.0%) has expected count less than 5. The minimum expected count is .81.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .370 .000

Cramer’s V .370 .000

N of Valid Cases 150

a. Not assuming the null hypothesis.

b. Using the asymptotic standard error assuming the null hypothesis.

INTERPRETATION:

The chi-square=20.510) was p=.000, less than 0.05.

We can see that the strength of association between the variables is weak (.370).Therefore, the research hypothesis that differences in ’cause to save in chit funds’ are related to differences in ‘gender” is supported by this analysis.

5.4.11 Hypothesis 11:

Hypothesis 11:

H0: There is no significant relation between age and cause for saving in chit fund

H1: There is significant relation between age and cause for saving in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 67.261a 12 .000

Likelihood Ratio 60.380 12 .000

Linear-by-Linear Association 9.507 1 .002

N of Valid Cases 150

a. 1 cell (10.0%) has expected count less than 5. The minimum expected count is .13.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .670 .000

Cramer’s V .387 .000

N of Valid Cases 150

INTERPRETATION:

The chi-square=67.261 was p=.000, less than 0.05.

We can see that the strength of association between the variables is moderately strong(.670).Therefore, the research hypothesis that differences in ‘reason to cause in chit funds’ are related to differences in ‘occupation” is supported by this analysis. Salaried people save their money in chit fund with no particular purpose. But self-employed people are equally interested in saving for house purchase as well as for general purpose.

SUMMARY:

chit fund is most closely associated with occupation of the chit fund members as it has the highest value of chi-square statistic and Phi coefficient.

5.4.12 Hypothesis 12:

Hypothesis 12:

H0: There is no significant relation between having bank loan and membership in multiple chit schemes.

H1: There is significant relation between having bank loan and membership in multiple chit schemes.

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 56.697a 3 .000

Likelihood Ratio 67.900 3 .000

Linear-by-Linear Association 36.400 1 .000

N of Valid Cases 150

INTERPRETATION:

The probability of the chi-square test statistic (chi-square=56.697) was p=.000, less than the alpha level of significance of 0.05.

We can see that the strength of association between the variables is strong (.615).

Therefore, the research hypothesis that differences in ‘membership in multiple chit schemes are related to differences in ‘having currently bank loan” is supported by this analysis. It is clearly evident that those members currently having bank loan have invested in only one chit scheme whereas those members who do not have availed bank loan have invested in more than one chit schemes.

5.4.13 Hypothesis 13:

Hypothesis 13:

H0: There is no significant relation between monthly income and participation in unregistered chit funds

H1: There is significant relation between monthly income and participation in unregistered chit funds

.

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 96.660a 7 .000

Likelihood Ratio 85.378 7 .000

Linear-by-Linear Association 59.577 1 .000

N of Valid Cases 150

a. 1 cell(10.0%) has expected count less than 5. The minimum expected count is 1.08.

INTERPRETATION:

The chi-square=96.660 was p=.000, less than 0.05.

We can see that the strength of association between the variables is extremely strong (.803).

Therefore, the research hypothesis that differences in ‘participation in unregistered chit funds’ are related to differences in ‘income” is supported by this analysis. It is clearly evident that mostly low- income members have participated in unregistered funds. This is because the registered funds have become expensive due to the increase in their operational cost as a result of stringent regulations.

5.2.14 Hypothesis 14 :

H0: There is no significant relation between causes to prefer chit fund over bank and having bank loan.

H1: There is significant relation between causes to prefer chit fund over bank and having bank loan

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 28.049a 5 .000

Likelihood Ratio 31.806 5 .000

Linear-by-Linear Association 2.967 1 .085

N of Valid Cases 150

a. 2 cells (15.0%) have expected count less than 5. The minimum expected count is 1.79.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .432 .000

Cramer’s V .432 .000

N of Valid Cases 150

INTERPRETATION:

The probability of the chi-square test statistic (chi-square=28.049) was p=.000, less than the alpha level of significance of 0.05.

We can see that the strength of association between the variables is moderate (.432).

Therefore, the research hypothesis that differences in ’cause to prefer chit fund over bank’ are related to differences in ‘having bank loan” is supported by this analysis. It is clearly evident that members who have bank loan have preferred chit fund over bank mainly due to better dividends. But those who do not have bank loan prefer chit fund over bank mainly due to better service in terms of more personalized service.)

5.2..15 Hypothesis 15: To identify significant predictors of regular participation in chit funds using Binary Logistic Regression

Hypothesis 15:

H0: Presence of safety, flexibility, timely payment, low commission, better service, personal contact, having a bank loan are no significant predictors of regular participation in chit fund.

H1: Presence of safety, flexibility, timely payment, low commission, better service, personal contact ,having a bank loan,are significant predictors of regular participation in chit fund.

Variables in the Equation

B S.E. Wald df Sig. Exp(B)

Step 0 Constant -1.046 .186 31.574 1 .000 .351

Model Summary

Step -2 Log likelihood Cox & Snell R Square Nagelkerke R Square

1 37.170a .533 .576

a. Estimation terminated at iteration number 6 because parameter estimates changed by less than .001.

Variables in the Equation

B S.E. Wald df Sig. Exp(B)

Step 1a bank_loan(1) 1.068 1.265 14.715 1 .000 11.720

reason_2 2.286 4 .683

reason_2(1) 1.336 1.077 1.540 1 .215 3.805

reason_2(2) .134 2.239 .004 1 .952 1.143

reason_2(3) -.559 1.896 .087 1 .768 .572

reason_2(4) .731 1.347 .294 1 .588 2.076

reason_3 4.874 5 .431

reason_3(1) 1.188 .924 1.652 1 .199 3.279

reason_3(2) 1.661 2.048 .658 1 .417 5.263

reason_3(3) -1.654 1.228 1.813 1 .178 .191

reason_3(4) .404 1.192 .115 1 .735 1.497

reason_3(5) -17.379 20.722 .000 1 .700 .000

reason_4 .355 4 .986

reason_4(1) -1.047 1.850 .320 1 .571 .351

reason_4(2) -.839 1.979 .180 1 .672 .432

reason_4(3) -.932 1.637 .324 1 .569 .394

reason_4(4) 3.519 4.199 .000 1 .600 3.746

reason_5 8.553 5 .128

reason_5(1) -.254 1.768 .021 1 .886 .776

reason_5(2) -19.245 9.890 .000 1 .999 .000

reason_5(3) 1.420 1.338 1.126 1 .289 4.136

reason_5(4) -.747 1.306 .327 1 .567 .474

reason_5(5) .561 1.342 .174 1 .676 1.752

B S.E. Wald df Sig. Exp(B)

Step 1a Safety -.075 .320 4.377 1 .011 0.928

Flexi -.178 .426 3.337 1 .021 0.837

commision -.185 .188 1.868 1 .026 0.831

payment -.267 .178 1.657 1 .097 0.766

service -.859 .412 1.348 1 .083 0.424

personal -1.122 .163 .996 1 .079 0.329

Constant 3.058 2.440 1.571 1 .010 21.291

a. Variable(s) entered on step 1: : bank_loan, reason_2, reason_3, reason_4, reason_5.imp1, imp2, imp3, imp4, imp5, imp6.

INTERPRETATION:

‘ -2 Log Likelihood statistic is 37.170. This statistic how poorly the model predicts the decisions — the smaller the statistic the better the model. Since, 37.170 is a relatively small number therefore, this model is able to predict the decisions in a better way.

‘ Here Cox & Snell R Square statistic indicates that 53.3% of the variation in the regular participation in chit funds is explained by the logistic model.

‘ In our case Nagelkerke R Square is 0.576, indicating a moderate relationship of 57.6 % between the predictors and the prediction.

‘ If it is less than .05 then, we will reject the null hypothesis and accept the alternative hypothesis.

‘ In this case, we can see that bank loan, safety, flexibility and low commission have contributed signi’cantly to the prediction of regular participation in chit funds but other variables are not significant predictors of regular participation in chit funds.

‘ Since only bank loan has p=.000, therefore we can say that bank loan is the most significant predictor

among other significant predictors. This is followed by safety (p=.011), flexibility (p=.021) and low commission (p=.026).

‘ Here, the EXP (B) bank loan is 11.727. Hence when bank loan is availed by one unit (one person) the odds ratio is 11 times as large and therefore people are 11 more times likely not to regularly participate in chit funds.

‘ Here, the EXP (B) with safety is .928. Hence when safety is increased by one percent the odds ratio is .928 times as large and therefore people are .928 more times likely to regularly participate in chit funds.

‘ Here, the EXP (B) flexibility is 837. Hence when flexibility is increased by one percent the odds ratio is .928 times as large and therefore people are .837 more times likely to regularly participate in chit funds.

‘ Here, the EXP (B) low commission is .831. Hence when flexibility is increased by one percent the odds ratio is .928 times as large and therefore people are .831 more times likely to regularly participate in chit funds.

SUMMARY

Bank loan is the most significant predictor of regular participation in chit funds. This is followed by safety, flexibility and low commission.

Instalment no No of months remaining Monthly subscription Prize amount PV of monthly subscription(PV of outlow at 10%) PV of Prize amount(PV of inflow at 10%) Net Present Value(PV of inflow – PV of outflow)

1 24 2000 50000 2000 50000 10444.9

2 23 1500 35000 1488.1 34723.1 -4832.0

3 22 1500 35000 1476.4 34448.4 -5106.7

4 21 1500 35000 1464.7 34175.9 -5379.2

5 20 1500 35000 1453.1 33905.5 -5649.6

6 19 1500 35000 1441.6 33637.3 -5917.8

7 18 1500 35000 1430.2 33371.2 -6183.9

8 17 1500 35000 1418.9 33107.2 -6447.9

9 16 1620 38000 1520.3 35660.6 -3894.5

10 15 1620 38000 1508.2 35378.5 -4176.6

11 14 1700 40000 1570.2 36945.9 -2609.2

12 13 1700 40000 1557.8 36653.6 -2901.5

13 12 1780 42000 1618.2 38181.8 -1373.3

14 11 1780 42000 1605.4 37879.8 -1675.3

15 10 1780 42000 1592.7 37580.1 -1975.0

16 9 1860 44000 1651.1 39058.2 -496.9

17 8 1860 44000 1638.0 38749.2 -805.9

18 7 1860 44000 1625.1 38442.6 -1112.5

19 6 1940 46000 1681.6 39872.1 317.0

20 5 1940 46000 1668.3 39556.6 1.5

21 4 1940 46000 1655.1 39243.7 -311.4

22 3 1940 46000 1642.0 38933.2 -621.8

23 2 1940 46000 1629.0 38625.2 -929.8

24 1 1940 46000 1616.1 38319.7 -1235.4

25 0 1940 46000 1603.3 38016.5 -1538.6

39555.1 934465.9 -54411.4

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Merit goods essay help app

Merit goods are goods which will be under-provided by the market, therefore they will be under-consumed. They are thought by the governments to be good for the populations and so the governments want them to be consumed to a great extent. They increase the private and social benefits and cause the social benefit be higher than the private one. The best examples of them, apart from all the public goods, can be the education, health care, sports facilities and the opera.

Although the majority of the merit goods is provided by the private sectors, not all the people can afford buying them, therefore they will be under-consumed. That is why the government is needed to destroy the market failure increasing the supply and consequently raising the consumption.

To explain the reasons for government to provide the merit goods, I need to apply some examples of them. The first one can be the education. It is significant for the governments to provide it so that the society would be well-educated. Governments determine the period of education required for people (the compulsory education) to maintain the proper level of education of the society. The governments find education an important aspect that should be available for everyone as it cause the whole country to have better both economic growth and economic development.

Considering another example such as health care, the situation is quite similar. The governments want to provide the population with it because they care about the high states of health of society in their country. To gain these, the countries need to have high quality of health care. Governments often offer people unpaid programs consisting of preventative medical examination which contribute to maintain the high number of healthy people. This is also connected with the problems of the labour market. The healthier people are, the more efficient their work is, the greater revenue firms have and countries are more developed because of taxations.

Other examples like sport facilities or the opera are meant for people to become physically and culturally developed but their availability is not as important as in the case of the previous examples. That is why they are not as much provided by the governments as the rest of the merit goods.

Although most of the merit goods provided by the governments are free, the fact is that they are paid through the taxes that the societies pay. The number of the merit goods of particular types that the governments provide or subsidize depends on the necessity of them. If they are provided, the societies’ benefits get higher and so is the public treasury of the countries.

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Research proposal: The effect of pregnancy on the adolescent pregnant teen & father college application essay help online

Abstract: The purpose for this research paper is to address the adolescent pregnant teen & father and the effects a pregnancy has on both of their lives during and after her pregnancy. How the teens need the support of the family, community, church, and the school system. I will also address the teen father mostly disregarded in any aspect of the teen’s pregnancy and how this affects him, and how both teens need support in our society. How we can address the social problem of teen pregnancy from all avenues.

‘Three issues that have an impact on the pregnant adolescent are discussed education, identity development, and maternal support’ (Turnage & Pharris, 2013). My research focuses on adolescent pregnant teen women 19 years old and younger. It will also reflect the problems of the teen pregnant adolescents journeying thru the process of becoming a teen mother, finishing high school, developing her own identity and the maternal support she gets from her mother during her transition from pregnant teen to motherhood.

‘Several issues that differently influence the pregnant teen is individually based on the female’s chronological age’ (Turnage & Pharris, 2013). ‘For the pregnant adolescent, her pregnancy supersedes high school graduation as the benchmark for her being viewed as an adult’ (Turnage & Pharris, 2013). ‘Failure to graduate high school is associated with poor social and educational outcomes for teen mothers and their children’ (Turnage & Pharris, 2013).

‘While the pregnant adolescent is defining who she is as a person she experiences a transition to the new identity of mother’ (Turnage & Pharris, 2013). ‘During her pregnancy the adolescent’s mother is seen as the primary source of support that contributes to a positive self-image and can assist her in the adapting to the role of parent’ (Turnage & Pharris, 2013).

My research paper will also show how important it is to support the teen during and after pregnancy. It addresses the need for the teen mothers to finish high school, and find her identity. How important it is to have the support system of her mother and family to achieve all of these things. Without these support systems, the pregnant adolescent could end up in poverty, no social skills, homeless and a host of other social problems for her and her baby.

Addressed and examined is teen motherhood and its long-term mental and physical health of the teen mother’ (Patel & Sen, 2012). They used a (PCS) health survey known as SF-12 NLSY79 a study that compared two major comparisons groups of which only teens who experienced teen pregnancy and girls who did not experience teen pregnancy. On average the survey for teen mothers was on average 50.89.

The study to access the health outcome of ‘two major comparison groups, which consisted of women who were only experienced teen pregnancy & women who were having unprotected sexual relation as a teen but did not become pregnant ‘ (Patel & Sen, 2012). Estimated is that teen mothers are more likely to have poor health later in life in the study of all the comparison groups.

Along with support, they desperately need help taking care of an infant as a teen; they need a support system to take notice of how they are managing their health & well-being so that they can be a successful teen parent. In addition, being a teen parent can affect the mother’s mentally as the pressure of being new teen mom can be stressful.

The teen mothers who marry after they give birth to their children statistics state that 30 % of them will not remain in their marriages into their 40’s. This result comes from teen adolescents in a single parent home raising their child. This can put a strain on the teen adolescent because she will financially have to seek support from her family or enter into the welfare system and suffer mental health issues.

‘Adolescent teen mothers identify social support with, parenting and emotional support primary emanating from family members, particularly their own mothers, as well as from the father of the baby (Savio Beers & Lee, 2009)’. ‘Older sisters may play an important role in the support network for adolescent mothers, the supportive sister relationships decrease depressive and anxiety-related symptoms in adolescent mothers (Savio Beers & Lee, 2009).

‘For some adolescent parents, participation in a religious community programs may provide the significant social support and serve as a protective factor’ (Savio Beers & Lee, 2009). This directly stresses the point that without the support of family, community, and church with the support of the father the adolescent teen mother can suffer mental issues, poverty issues, and marriage problems.

We addressed the many issues that teen mothers have to face, so now I would like to address the teen father in our society. What are their concerns on becoming a teen father, and how do they view their role as father where their masculinity is concerned? While most of the research done on teen pregnancy and parenting mainly focusing on the mother, the father is invisible.

Interviewed were 26 young teen fathers in the mid-western American towns. The in depth survey of three themes of gender discord focused on teen father narratives, which took on responsibility, sex, being a man, this is the direct viewpoint of the invisible teen father. What they feel about getting a teen girl pregnant and what responsibility they take in the pregnancy if any. How they relate to getting a teen pregnant and how that affects his identity as a man and their masculinity.

‘Gendered assumptions regarding pregnancy and contraception’specifically that women are in charge of preventing pregnancy and they have the belief that male sexuality is uncontrollable; and that use of love and intimacy talk (Weber, J. B., 2013). The teen fathers that took the questionnaire did not blame themselves for getting the teen girl pregnant. They see the teen’s pregnancy as her problem.

Studies suggest that teen fathers are more likely to be of a minority race. He has a mother who had a baby as a teen; his parents have a minimal education. His parents do not have high expectations of him finishing school; all of these factors result in the likelihood that makes him a candidate to becoming a teenage father. ‘The research states that the teen fathers go to school fewer years less than non-teenage fathers (Fletcher & Wolfe, 2011).

‘Evidence shows that men who have children before marriage leave school earlier and have worse labor markets outcomes’ (Fletcher & Wolfe, 2011). ‘Data was used only on young men who reported a pregnancy as an adolescent’ (Fletcher & Wolfe, 2011). It affects his completion of high school.

It also affects his ability to take care of the teen mother & baby, which causes him to drop out of school early. Statistically, ‘teen fathers work more hours and earn more money following the birth of a child then his non-parent counterparts’ (Fletcher & Wolfe, 2011). Teen fatherhood results in the teen father getting married early or co-habitation with the teen mother.

In conclusion, teen pregnancy is a social problem in the United States both teens will have to suffer in their education, grow up before their time, take on adult responsibilities, and suffer financial problems to take care of the child. Which ultimately falls on the parents of the teens, society or the welfare system in which the teen mother becomes a social statistic or shall I say a number.

Teen pregnancy as of 2014 have been on the decline in the United States and increased in other states, however a positive support system for both teens is minimal at best. Socially as communities, churches and government we have to take an active role in education of abstaining from sex, talking to the teens about sex, and protecting themselves against pregnancy.

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Reconnaissance attacks in IPv6 networks extended essay help biology

2.1.1 Reconnaissance attacks in IPv6 networks

The 1st larger attack in IPv6 is usually a reconnaissance attack. An attacker try reconnaissance attacks to get some confidential information about the victim network that can be misused by the attacker in further attacks. For this he uses active methods, such as scanning techniques or data mining strategies. To start, an intruder begins to ping the victim network to determine the IP addresses currently used in the victim network. After getting some of the accessible system, he starts to scan the port to find out any open port in the desired system. The size of subnet is bigger than that of the in IPv4 networks. To perform a scan for the whole subnet an attacker should make 264 probes and that???s impossible. With this fact, IPv6 networks are much more resistant to reconnaissance attacks than IPv4 networks. Unfortunately, there are some addresses which are multicast address in IPv6 networks that help an intruder to identify and attack some resources in the target network.

2.1.2 Security threats related to IPv6 routing headers

As per IPv6 protocol specification, all of the IPv6 nodes must be able to process routing headers. In fact, routing headers can be used to avoid access controls based on destination addresses. Such action can cause security effects. It may be happen that an attacker sends a packet to a publicly accessible address with a routing header containing a ???forbidden??? address on the victim network. In such matter the publicly accessible host will forward the packet to the destination address stated in the routing header even though that destination is already filtered before as a forbidden address. By spoofing packet source addresses an intruder can easily perform denial of service attack with use of any publicly accessible host for redirecting attack packets.

2.1.3 Fragmentation related security threats

As per IPv6 protocol specification, packet fragmentation by the intermediate nodes is not permitted. Since in IPv6 network based on ICMPv6 messages, the usage of the path MTU discovery method is a duty, packet fragmentation is only allowed at the source node.1280 octets is the minimal size of the MTU for IPv6 network. The packets with size less than 1280 octets to be discarded unless it???s the last packet in the flow as per security reasons. With use of fragmentation, an attacker can get that port numbers not found in the first fragment and thus they bypass security monitoring devices expecting to find transport layer protocol data in the very first fragment. An attacker will send a huge amount of small fragments and create an overload of reconstruction buffers on the victim system which resulted to the system crash. To prevent system from such attacks it???s necessary to bound the total number of fragments and their permissible arrival rate.

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WMBA 6000-13 Topic: Course Evaluation essay help site:edu

WMBA 6000-13

Topic: Course Evaluation

Date: March 2, 2014

Based on the assigned readings for this course (Dynamic Leadership), I have read an enormous amount of information about the different categories of leaders and leadership styles. Today’s leaders are different from the leaders of twenty to fifty years ago. In the past leaders gave commands and they controlled the actions of others. Today leaders are willing to involve others in their decision making and they are more open to new possibilities.

A good leader has a vision for their organization and they know how to align and engage employees in order to promote collaboration. The successful leader knows how to lead by using superior values, principles and goals that fit the organization’s values, principles and goals. Also these leaders know that leadership is not made from authority, it’s made from trust and followership. Coleman, J., Gulati, & Segovia, W.O. (2012)

I am impressed most by the characteristics of the authentic leader because they know how to develop themselves; they use formal and informal support networks to get honest feedback in order to drive long-term results. Authentic leaders build support teams to help them stay on course and counsel them in times of uncertainty. George, B., Sims, P., Mclean, A.N. & Mayer D. (2007)

In addition, I found the Leadership Code to be important because it provides structure and guidance and helps one to be a better leader by not emphasizing one element of leadership over another. Some focus on the importance of vision for the future; others on executing in the present; others on personal charisma and character; others on engaging people’; and others on building long-term organization. The code represents about 60 to 70 percent of what makes an effective leader. Ulrich, D., Smallwood, N., Sweetman, K. (2008)

The information that I acquired from this course will help me to pursue the goal of owning a beauty supply business. Another goal that I can add to my action plan is to include not only wigs and welted hair, but I will add hair, skin and nail products to my inventory. A future goal will be to add handbags and accessories as well.

After completing my short-term goal of finishing my MBA, I can take the knowledge from this course along with my values, ethics and principles to help me to manage employees and operate a successful business. Annie Smith (March 2, 20

Coleman, J. G. (2012). Educating young leaders. Passion and Purpose , 197-202.

George, B. S. (2007). Discovering your authentic leadership. Harvard Business Review , 129-138.

Lyons, R. (2012). Dean of Haas of School of Business University of California, Berkely. It’s made from followership. (J. G. Cole, Interviewer) Coleman, J., Gulati, D., & Segovia, W.O.

Ulrich, D. S. (2008). Five rules of leadership. In The leadership code five rules to lead by. Defining Leadership Code , 1-24.

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Family presence during CPR (cardiopulmonary resuscitation) university essay help

In a pre-hospital setting, there are few moments that are as intense as the events that take place when trying to save a life. Family presence during these resuscitation efforts has become an important and controversial issue in health care settings. Family presence during cardiopulmonary resuscitation (CPR) is a relatively new issue in healthcare. Before the advent of modern medicine, family members were often present at the deathbed of their loved ones. A dying person’s last moments were most often controlled by his or her family in the home rather than by medical personnel (Trueman, History of Medicine). Today, families are demanding permission to witness resuscitation events. Members of the emergency medical services are split on this issue, noting benefits but also potentially negative consequences to family presence during resuscitation efforts.

A new study has found that family members who observed resuscitation efforts were significantly less likely to experience symptoms of post-traumatic stress, anxiety and depression than family members that did not. The results, published in an online article in The New England Journal of Medicine, entitled ‘Family Presence during Cardiopulmonary Resuscitation,’ were the same regardless of the survival of the patient. The study involved 570 people in France whose family members were treated by emergency medical personnel at home. These EMS teams were unique in that they were comprised of a physician, a nurse trained in emergency medicine, and two emergency medical technicians. The study found that the presence of relatives did not affect the results of CPR, nor did it increase the stress levels of the emergency medical teams. Having family present also did not result in any legal claims after the incidents occured. While the unique limitations of the study warrant consideration, the results show a definite benefit in having families stay during CPR (Jabre Family Presence).

Historically, although parents of children have been allowed to be present for various reasons, relatives of adult patients have not. As medical practices change to increasingly involve family in the care of patients, growing numbers of emergency medical practitioners say that giving relatives the option of watching CPR can be a good idea. Several national organizations, including The American Heart Association, have revised their policies to call for giving family members the option of being present during CPR (AHA Guidelines for CPR). Witnessing CPR, say some emergency medical experts and family members, can take the mystery out of what could be a potentially terrifying experience. It can provide reassurance to family members that everything is being done to save their loved ones. It also can offer closure for relatives wanting to be with their family members until the last minute (Kirkland Lasting Benefit). Another benefit is that it shows people why reviving someone in cardiac arrest is much less likely than people assume from watching it being done on television (Ledermann Family Presence During). Family members who can truly understand what it means to ‘do everything possible’ can go on to make more informed decisions about end-of-life care for themselves or their families.

There are three perspectives on this issue- that of the emergency medical personnel providing care, the family, and the patients. The resistance on the part of the medical community to family presence during CPR stems from several different concerns. The most common concern among these is that family members, when faced with overwhelming fear, stress and grief, could disrupt or delay active CPR. Another concern raised by emergency medical personnel is that the realities of CPR may simply be too traumatic for loved ones, causing them to suffer more than they potentially would have if they had never witnessed the event. Some families share this view, citing the potential for extreme distress as a main reason for not wanting to witness resuscitation (Grice Study examining attitudes). Many emergency medical personnel also fear an increased risk of liability and litigation with family members present in the room (Fullbrook the Presence of Family). The worry is that errors can occur, inappropriate comments may be made, and the actions of the personnel involved may be misinterpreted. In an already tense situation, the awareness of the family could increase the anxiety of the personnel and create a greater potential for mistakes.

Another complication that arises from having families present during resuscitation attempts is that of patient confidentiality. The patient’s right to privacy should not be circumvented with implied consent. There is always the possibility that medical information previously unknown to the family may be revealed in the chaos of resuscitation. In addition, patient dignity, whether physical or otherwise, may become compromised (Fullbrook the Presence of Family). Beyond moral considerations, legal concerns regarding revealing patient information are real. This could become an even larger issue if there is no one available to screen witnesses, which could result in unrelated people gaining access to personal information. Eventually, a breach in confidentiality can lead to a breach in the confidence that the public has gained in pre-hospital emergency care.

Family presence during CPR in a pre-hospital setting remains a highly debatable topic. This could be largely due to the fact that the needs of the emergency medical providers and the rights of the patients can be at odds with the wishes of the family members. Although there are several possible reasons why family presence is not being welcomed into daily practice, one of the major reasons could be the lack of formal written policies that define the roles of families and providers placed into this situation. Bringing family members into a situation where CPR is being performed on a loved one should not happen haphazardly. It should happen with careful concern and support for everyone involved. Policies and protocols, defined by experienced personnel, can provide legal and emotional support. They can also potentially help ease anxiety by defining expectations and placing responsibility in the hands of people who are experienced enough to know how to handle the situation appropriately. The policies and protocols should address the basic needs of all people involved. Five basic needs should be addressed:

1. The number of people allowed to be present

2. Which relatives should be allowed to be present (age, relationship, etc.)

3. The role of the family members present and what is expected of them.

4. The place where the family should remain during the duration of CPR.

5. The formal wishes of the patient- written as a directive like a living will.

An important component of this is available, trained staff that can prepare the family members for what they will witness, support them through the event, and then direct them after the event’s conclusion.

The American Heart Association states that the goals of cardiopulmonary resuscitation are, ‘to preserve life, restore health, relieve suffering, limit disability, and respect the individual’s decisions rights and privacy’ (AHA Guidelines for CPR). The practice of offering family members the opportunity to be present during CPR is a controversial ethical issue in emergency medical services. While the results of the study published on this topic in The New England Journal of Medicine clearly show no negative side effects from having families present during resuscitation attempts, the limitations of the study lend to the need for more research before it could be universally accepted.

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Respondeat Superior rice supplement essay help

Legal claims that derive from a situation where there are claims of negligence can sometimes involve an entity other than the neglectful parties. In certain circumstances employers are fully responsible for their employees, and the tasks they perform during working hours. During the course of this paper, the doctrine of respondeat superior will be defined and explained. Two case studies in which the doctrine was applied will also be analyzed to determine if it was applied correctly.

Respondeat superior is a legal theory that holds employers responsible for any negligent or harmful act performed by an employee during the commission of their employment duties (Thornton, 2010). The Maryland Supreme Court in 1951 was the first court to utilize respondeat superior in a court case involving a question of employer liability (Burns, 2011). This doctrine is important as it holds employers liable in court cases where one of its employees does harm to an individual. Vicarious liability and indirect liability are two base concepts that make-up respondeat superior (Thornton, 2010). Respondeat superior shows that the employer did not have to be responsible for the employee???s negligent behavior, in the form of improper training or instruction to perform harmful acts, in order for the employer to be held legally responsible.

In the case of Valle v. City of Houston, the police force was sued for excessive force and an illegal search in an attempt to remove an individual from his parent???s home (Nicholl & Kelly, 2012). The situation stemmed from a man, Omar Esparza, barricading himself in his parent???s home and refusing to come out (p. 285). After a long police standoff, the SWAT team was ordered to forcefully enter the home and remove Mr. Esparza (p. 285). The SWAT team utilized taser gun and bean bag ammunition in an attempt to subdue Mr. Esparza after they felt he posed a physical threat by wielding a hammer, but as those attempts failed the suspect was fatally wounded when an officer fired his weapon (p. 286). Shortly after the incident the mother was allowed into the home, and she reported no visible evidence that her son was possession of a hammer (p. 286). The court found that the city was not liable for damages under the theory of respondeat superior, because the order to remove the individual from the home was not made by an individual deemed as a decision-maker by the city (p. 286).

From the outside, this case seems to fit the theory of respondeat superior. As the employer, the city should be held responsible for the actions of its employees. The police, serving as the city???s employees acted in a manner that was unnecessary for the situation and in conflict of their training (p. 286). However, the court sided with the City of Houston because the chain of command was not followed in regards to the use of force (p. 286). The end result is a case where an individual made a decision that was not his to make; that ultimately cost a man his life.

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Introduction To Finance Cheap Essay Help

INTRODUCTION TO FINANCE: Finance is the integral part of business. The economic development of any country, depends upon the ‘existence of a well- organized financial system. It is the financial system, which supplies the necessary financial input for the production of goods and services, which in turn promotes the well-being, and standard of people of the country. Finance, and function of finance are the part of the economic activity. Finance is the essential, need for all type of organization viz., small, medium, large-scale industries, and agriculture and service sector. Over the 60 years of independence, the availability of finance, has been made easy through functioning of commercial banks, development banks and primary markets. But all these services and instruments are associated, with different types of costs. Hence, it had become a necessity to make use of such sources not only to recover the cost but also to increase, the wealth of investors. Contrary to this, the new economic reforms created a challenging, environment in the economy. This calls for effective utilization of funds, to yield the pre-determined returns of a firm’s success and its survival, depends upon how efficiently it is able to generate funds, as and when needed. Finance, holds the key to all activities. The Sanskrit says, ‘Arthasachivah’ which means, ‘Finance’ reigns supreme’, speaks volume for the significance of the function, of finance in any organization. According to Paul G. Hassings..,

‘Finance is the management of the monetary, affairs of a company. It includes determining what has to be paid for the money of the best terms available, and devoting the available funds to the best uses’.

‘Finance’ guides and regulates, investment decisions and expenditures. The expenditure decision may pertain, to recurring expenditure or they may be about capital budgeting. To get the best out of the available funds, is major task of finance. The finance manager, has to perform this task most efficiently if he is to be successful. The finance function, does not draw any distinction between the private sector and the public sector. It is important, even indispensable to the both sectors, even the government treats finance as a, signpost to control a measure what it has achieved or propose to achieve. It may be rightly, considered as the sinew of any business activity, and that is how its importance is recognized in any branch of science. Every business activity requires financial support, because financial viability, is the center theme of any business preposition. This point of view is well brought out by Mr. A.L. KINGSHOTT, who states.

‘Finance is the common denominator for a vast range of corporate objectives, and the major part ,of any corporate plan must be expressed in financial terms’.

Financial decision, must be viewed in the light of financial viability of its financial outcomes. It is difficult to conceive a policy decision, which does not have financial implications. Moreover, business activities are not mutually exclusive; there dependence on each other, and can be measured only in terms of finance. Any economic transaction, consists of buying and selling, which implies money transactions, but it may not involve immediate payment of money, as there may be credit terms involved. In any transaction therefore, whether it is buying or selling, the payment of money, at present or in future, is involved.

FINANCIAL STATEMENTS

An organization communicates, its financial information to the users through financial statements and reports. Financial statement contains summarized information of the organizations – financial affairs, organized in a systematic form. These statements comprises of the income statements or profit and loss account and the position statements or the balance sheet.

To give a full view of the financial affairs, of the undertaking it is also necessary to include statement of retained earnings, a statement of changes , in the financial position and a few schedules such as schedules of fixed assets, and schedule of debtors.

Income Statement: The profit and loss account set out income as well as expenses of the same period and after matching the two, the difference that is net profit or net loss, is shown as the difference between the two sides of the account. Thus, the earning capacity and the potential of the organizations are reflected by its profit and loss account.

Balance Sheet: Also known as the position statement, displays all the total resources of a business and the owners, creditors equity in these resources. It indicates the statement of affairs of the business at a particular moment of time and thus, its nature.

Profit and Loss Appropriation account: Also known as statement of retained earnings, is generally a part of the profit and loss account. It shows, how the profit of the business for the accounting period is appropriated, towards reserve and dividend and how much of the same is carried forward, as retained earnings

Fund Flow Statement: Also known as the statement of changes in financial position, summarizes the changes in the assets, liabilities and owners’ equity between two balance sheet dates. Thus, it is a statement of flows, i.e. it means the changes have been taken in the financial position of the firm of two balance sheet dates. It summarizes the sources, and uses of the funds obtained.

FINANCIAL ANALYSIS

Financial analysis, is the process of identifying the financial strength and weakness of the firm by properly establishing, relationships between the items of the balance sheet and profit and loss account. The purpose of financial analysis is, to disclose the information available in the financial statements so as to judge the profitability, and financial health of the organization.

The first task of the financial analyst is to select the information relevant to the decisions under consideration from the total information available in the financial statement. Secondly, to arrange the information in a way that would highlight the significant relationships.

Finally, to interpret and draw inferences, and conclusions. In brief, financial analysis, is the process if selection, relation and evaluation of profitability and financial soundness and health of the organization.

TECHNIQUES OF FINANCIAL STATEMENT

A financial analyst, analyses the financial statement by selecting the appropriate techniques according to purpose of the analysis. Financial statements may be analyzed by means of any of the following techniques:

‘ Comparative Statement analysis.

‘ Common Size Statement analysis.

‘ Trend analysis.

‘ Ratio analysis.

‘ Fund Flow Statement.

‘ Cash Flow Statement.

‘ Cost Volume Profit analysis.

COMPARATIVE ANALYSIS

Comparative Analysis means, comparison of two or more comparable alternatives, processes, products, qualifications, sets of data’s, systems, etc. In accounting, for example, changes in a financial statement’s items over, several accounting periods could be presented together to detect the emerging trends in the, firm’s operations and results.

Comparative Analysis is performed by professionals, who prepare reports using financial tools and techniques that make use of information taken from financial statements and the other reports. These reports are usually, presented to top management as one of their base in making business decision.

These decisions include the following:-

‘ Continue or discontinue in its main operation or part of its business;

‘ Make or purchase certain materials, in the manufacture of its product;

‘ Acquire or rent/lease certain, machineries and equipment in the production of its goods;

‘ Issue stocks or negotiate for a bank loan, to increase its working capital;

‘ Make decisions regarding investing and lending capital;

‘ Other decisions that allow management to make an, informed selection on various alternatives in the conduct of its business.

Comparative analysis often assesses the firm’s:-

1. Profitability ‘ Firm’s ability, to earn income and sustain growth in both short-term and long-term. A company’s degree of profitability, is usually based on the income statement, which reports on the company’s results of operations

2. Solvency ‘ Firm’s ability to pay of its obligation to creditors and third parties in the long term.

3. Liquidity – its ability to maintain a positive cash flow, while satisfying immediate obligations.

4. Stability- the firm’s ability is to remain in business in the long run, without having to sustain significant losses, in the conduct of its business. Assessing a company’s stability requires the use of the income statements and the balance sheet, as well as other, financial and non-financial indicators.

Methods of Comparative Analysis

Comparative analysts often compare on the basis of following things:

‘ Past Performance – Across historical time periods, for the same firm (the last 5 years for example),

‘ Future Performance – Using historical figures and certain, mathematical and statistical techniques, including present and future values, This extrapolation method is the main source, of errors in financial analysis as past statistics can be the poor predictors of future prospects.

‘ Comparative Performance – Comparison between the similar firms.

Comparing financial ratios is merely one way of conducting, financial analysis. Financial ratios face several theoretical challenges:

‘ They say little about the firm’s prospects, in an absolute sense. Their insights about, relative performance, require a reference point from other time periods or any similar firms.

‘ One ratio, holds little meaning. As indicators, ratios can be logically interpreted in at least two ways. One can be partially overcome this problem by combining several related ratios, to paint a more comprehensive and exact picture of the firm’s performance.

‘ Seasonal factors, may prevent year-end values from being representative. A ratio’s values may be distorted as the account balances will change from the beginning to the end of an , accounting period. Use average values, for such accounts, whenever it is possible.

‘ Financial ratios, are no more objective than the accounting methods employed. Changes in accounting policies, or choices can yield drastically different ratio values.

Financial analysts, can also use percentage analysis which involves reducing a series of the figures as a percentage of some base amounts. For example, a group of items can be expressed, as a percentage of net income. When proportionate changes in the same figure, over a given time period expressed as a percentage is known as horizontal analysis. Vertical or common-size analysis, reduces all items on a statement to a ‘common size’ as a percentage of some base value, which assists in the comparability with other companies of different sizes. As a result, all Income Statement items are divided by Sales, and all the other Balance Sheet items are divided by Total Assets.

Another method is, comparative analysis. This provides a better way to determine trends. Comparative analysis, presents the same information for two or more time periods and is, presented side-by-side to allow for easy analysis.

BALANCE SHEET BASICS

In financial accounting, the balance sheet or statement of financial position is a summary of the financial balances, of a sole proprietorship, a business partnership or a company. Assets, liabilities and ownership equity, are listed as of a specific date, such as to the end of its financial year. A balance sheet is often described as a “snapshot of a company’s financial condition”. The balance sheet is the only statement which applies to a single point at time of a business’ calendar year. Understanding balance sheet, is very important because it gives an idea of the financial strength of a company at any given point of time.

The various components of balance sheet are as follows:-

‘ Assets: – Anything tangible or intangible that is capable, of being owned or controlled to produce value and that is, held to have positive economic value is considered as an asset.

‘ Gross block: – The total value of all the assets that a company own’s and value is determined by the amount ,it cost to acquire these assets. It is inclusive of depreciation, that is to be charged on each asset.

‘ Net block: – If the gross block is less accumulated depreciation on assets. Net block is actually what; the asset is worth to the company.

‘ Capital Work-In-Progress: – sometimes, at the end of the financial year, there is some construction or installation going-on in the company. Which is not complete, such installation is recorded in the books as: capital work in progress because it is asset for the business.

‘ Investments: – If the company has made some, investments out of its free cash, it is recorded, under the head investments.

‘ Inventory: -The raw materials, work-in-process goods and completely finished goods that are considered to be the portion of a business assets which are ready or will be ready for sale.

‘ Receivables: – include the debtor’s of the company, i.e., it includes all those accounts which are to give money back to the company.

‘ Other Current Assets: – include all the assets, which can be converted into cash, within a very short period of time like cash in bank etc.

‘ Liabilities:- In financial accounting, a liability is defined as an obligation of an entity, arising from past transactions or events, the settlement of which may result in the transfer or use of assets, provision of services, or other yielding of economic benefits in the future.

‘ Share Capital: – Share capital or issued capital refers to as the portion of a company’s equity that has been obtained by trading stock, to a shareholder for cash or an equivalent item of capital value. Share capital usually comprises the nominal values of all shares issued, and less those repurchased by the company. It includes both ordinary shares and preference shares. If the market value of shares is greater than their nominal value (value at par), the shares are said to be at a premium, which is also called as share premium.

‘ Reserves and surpluses: – Amount appropriated out of earned surplus, retained earnings for future plan or unforeseen expenditure. It includes, the free reserves of the company which are built out of the genuine profits of the company. Together they are known as net worth of the company.

‘ Total debt: – It includes the long term and short debt of the company. Long term is for a longer duration, usually for a period more than 3 years like debentures. Short term debt, is for a lesser duration, usually for less than a year like bank finance for the working capital.

‘ Creditors: – They are those entities to which the company owes’s money.

‘ Other Liabilities and Provisions: – It includes, all the liabilities that do not fall under any of the above head and various provisions made.

PROFIT AND LOSS STATEMENT

Profit and Loss Statement which is also known as the Income Statement is a company’s financial statement that indicates how the revenue, which is money received from the sale of products and services, before expenses are taken out, also known as the “top line” is transformed into the net income, which is the result after all revenues and expenses have been accounted for, also known as the “bottom line”. It displays, the revenues recognized for a specific period, and the cost and expenses charged against all these revenues, including write-offs (e.g., depreciation and the amortization of various assets) and taxes. The purpose of the income statement is to show manager’s and investors whether the company made or lost money, during the period being reported.

Items in Profit & Loss Statement

Operating Expenses

‘ Revenue: -Cash inflows, or other enhancements of assets of an entity during a period from delivering, or producing goods, rendering services, or other activities that constitute the entity’s ongoing, major operations. It is usually presented as the sales minus sales discounts, returns, and allowances.

‘ Expenses: – Cash outflows, or other using-up of assets or incurrence of liabilities during a period, from delivering or producing goods, rendering services, or carrying out other activities that constitute, the entity’s ongoing major operations.

‘ General and Administrative Expenses: -Represent expenses, to manage the business; which includes salaries of officers/executives, legal and professional fees, utilities, insurance, depreciation of office building and the equipment, office rents, office supplies, etc.).

‘ Selling Expenses: -It represents, expenses needed to sell products which include salaries of sales people, commissions, and travel expenses, advertising, freight, shipping, depreciation of sales store buildings and equipment, etc.

‘ R & D Expenses: -Investigative activities, that a business chooses to conduct with intention of making a discovery that can either lead to the development of a new products or procedures, or in the improvement of existing products or procedures.

‘ Depreciation/Amortization: -It is the charge, with respect to fixed assets / intangible assets that have been capitalized, on the balance sheet for a specific accounting period. It is a systematic and rational allocation of cost, rather than the recognition of market value decrement.

Non-operating Expenses

‘ Other Revenues or Gains: -They are, revenues and gains from other than primary business activities (e.g. rent, income from patents). It also includes unusual gains, that are either unusual or infrequent, but not both (e.g. gain from sale of securities or gain from disposal of fixed assets).

‘ Other expenses or losses: – Expenses or losses which are not related to primary business operations, (e.g. foreign exchange loss).

‘ Finance costs ‘ It is the cost of borrowing from various creditors (e.g. interest expenses, bank charges).

‘ Income tax expense: – It is the sum of the amount payable to tax authorities for the current reporting period (current tax liabilities/ tax payable) and the amount of deferred tax liabilities (or assets).

Irregular Items

They are reported separately, because this way the user can better predict future cash flows. Irregular items most likely may not appear in next year. These are reported as net of taxes.

‘ Extraordinary items: -They are both, unusual (abnormal) and infrequent, for example, unexpected natural disaster, expropriation, prohibitions, under new regulations. [Note: natural disaster, might not qualify depending on location (e.g. frost damage would not qualify in Canada, but would in the tropics).

‘ Changes in accounting principles: -For example, deciding to depreciate, an investment property that has previously not been depreciated. However, changes in the estimates (e.g. estimated useful life of fixed assets) do not qualify.

‘ Discontinued operations: -These are the most common type of irregular items. Shifting business location, stopping production temporarily, or changes due to technological improvement, do not qualify as discontinued operations.

1.2 SPECIFIC INTRODUCTION

RETAIL BACKGROUND OF INDUSTRY

The Indian retail industry, is divided into organized and unorganized sectors. Organized retailing, refers to trading activities undertaken by licensed retailers, that is, those who are registered for sales tax, income tax, etc. These include the corporate-backed, hypermarkets and retail chains, and also the privately owned large retail businesses. Unorganized retailing, on the other hand, refers to the traditional formats of the low-cost retailing, for example, the local kirana shops, owner manned general stores, paan/beedi shops, convenience stores, hand-cart and pavement vendors, etc. India’s retail sector is wearing new clothes and with a three-year compounded annual growth rate of 46.64 per cent, retail is the fastest growing sector, in the Indian economy. Traditional markets, are making way for new formats such as departmental stores, hypermarkets, supermarkets and specialist stores. Western-style malls, have begun appearing in metros and second-rung cities alike, introducing the Indian consumer, to annul paralleled shopping experience. The Indian retail sector, is highly fragmented with 97 per cent of its business being run by the unorganized retailers, like the traditional family run stores and corner stores. The organized retail however is at a very nascent stage, though attempts are being made to increase its proportion to 9-10 per cent by the year 2015 bringing in huge opportunities for prospective new players. This sector is the largest source of employment after agriculture, and has deep penetration, into rural India generating more than 10 percent of India’s GDP.

The last few years witnessed immense growth by this sector, the key drivers being

the Changing consumer profile and demographics, increase in the number of international brands, available in the Indian market, economic implications of the Government increasing urbanization, credit availability, improvement in the infrastructure, increasing investments in technology, and real estate building a world class shopping environment for the consumers. In order to keep pace with the increasing demand, there has been, a hectic activity in terms of entry of international labels, expansion plans, and focus on technology, operations and processes .This has led, to more complex relationships involving suppliers, third party distributors and retailers, which can be dealt, with the help of an efficient supply chain. A proper supply chain will help to meet the competition head-on, manage stock availability; supplier relations, new value-added services, cost cutting and most importantly reduce the wastage levels in fresh produce.

Large Indian players: like Reliance Ambani’s, K.Rahejas, Bharti AirTel, ITC and many others are making significant investments, in this sector leading to emergence of big retailers who can bargain with suppliers to reap, economies of scale. Hence, discounting is becoming, an accepted practice. Proper infrastructure is a pre-requisite in retailing, which would help to modernize India and facilitate rapid economic growth. This would ,help in efficient delivery of goods and value-added services to the consumer making a higher, contribution to the GDP. International retailers see India as the last retailing, frontier left as the China’s retail sector is, becoming saturated. However, the Indian Government restrictions on the FDI are creating, ripples among the international players like Walmart, Tesco and many other, retail giants struggling to enter Indian markets. As of now the Government has, allowed only 51 per cent FDI in the sector to ‘one-brand’ shops like Nike, Reebok, etc. However, other international players are taking alternative routes to enter ,the Indian retail market indirectly via strategic licensing agreement, franchisee, agreement and cash and carry wholesale trading (since 100 per cent FDI is allowed, in wholesale trading).

RETAIL INDUSTRY

India has one of the largest numbers, of retail outlets in the world of the 12 million retail outlets present in the, country, nearly 5 million sell food and related products. Though the market has, been dominated by unorganized players, the entry of domestic and international, organized players is set to change the scenario.

Organized retail segment has been ,growing at a blistering pace, exceeding all previous estimates. According to a, study by Deloitte Haskins and Sells, organized retail has increased its share, from 8 percent of total retail sales in 20012 to 10 percent in 2013. The, fastest growing segments have been the wholesale cash and carry stores, (150 percent) followed by supermarkets (100 percent) and hyper markets, (75-80 percent). Further, it estimates the organized segment to account for 25 per cent of the total sales by 2014.

India retail industry is the, largest industry in India, with an employment of around 8% and contributing, to over 10% of the country’s GDP. Retail industry in India is expected to rise, 25% yearly being driven by strong income growth, changing lifestyles, and, favorable demographic patterns.

It is expected that by, 2016 modern retail industry in India will be worth US$ 200-225 billion. India, retail industry is one of the fastest growing industries with revenue expected, in 2014 to amount US$350 billion and is increasing at a rate of 5% yearly. A ,further increase of 7-8% is expected in the industry of retail in India by growth in ,consumerism in urban areas, rising incomes, and a steep rise in rural consumption. It has further been predicted that the retailing industry in India will, amount to US$ 21.5 billion by 2015 from the current size of US$ 7.5 billion.

Shopping, in India has witnessed a revolution with the change in the consumer buying, behavior and the whole format of shopping also altering.

Industry, of retail in India which has become modern can be seen from the fact that there, are multi-stored malls, huge shopping centers, and sprawling complexes ,which offer food, shopping, and entertainment al under the same roof.

India retail, industry is expanding itself most aggressively; as a result a great demand for, real estate is being created. Indian retailers preferred means of expansion is ,to expand to other regions and to increase the number of their outlets in a city,. India retail industry is progressing well and for this to continue retailers as well, as the Indian government will have to make a combined effort.

Retail sector, one, of India’s largest industries, has presently emerged as one of the most dynamic, and fast paced industries of our times with several players entering the market.

India is being, seen as a potential goldmine for retail investors from over the world. India, gets 2nd position according to AT Kearney’s annual Global Retail Development, Index (GRDI). India earned $511 billion in the year of 2012 and drawing both, local as well as global players. Organized retail accounts still less than 5% of the, market is expected to grow at CAGR of 40%, from $20 billion in 2007 to $107, billion by 2013 and to $1.3 trillion by 2018, at a CAGR of 10%. India has one, of the largest numbers of retail outlets in the world. One of the 12 million retail, outlets, present in the country, nearly 5 million sell food and related products. Though, the market has been dominated by unorganized player, the entry of domestic, and international organized players is set to change the scenario.

As the contemporary, retail sector in India is reflected in sprawling shopping centers, multiplex- malls, and huge complexes offer shopping, entertainment and food all under one roof, the concept of shopping has altered in terms of format and consumer buying behavior, ushering in a revolution in shopping in India. This has also contributed to large, scale investments in real estate sector with major national and global players, investing in developing the infrastructure and construction of the retailing, business.

The retailing configuration, in India is fast developing as shopping malls are increasingly becoming familiar, in large cities. When it comes to development of retail space specially the malls, the Tier, II cities are no longer behind in the race. If development plans till 2007 is studied, it shows the projection of 220 shopping malls, with 139 malls in metros and the, remaining 81 in the Tier II cities. The government of states like Delhi and, National Capital Region (NCR) are very upbeat about permitting the use of, land for commercial development thus increasing the availability of land for, retail space; thus making NCR render to 50% of the malls in India.

Wal-Mart, the world’s largest retail, chain, recently joined Bharti to operate within India. Some MNC giants already, serving from the past couple of years like SPAR group, Carrefour, Marks &, Spencer, Metro. Local retailers such as Future group, RGP group and Reliance, have all taken an early lead due to their aggressive expansion plans.

The outlook for private consumption, has become more negative and customers are becoming more cautious. The retail, sector is concentrated. Indian retail chains are meeting the stiff competition, through increased efficiency, centralizing purchases, forming international, alliances and expanding operations.

INDIAN RETAIL INDUSTRY- ITS GROWTH, CHALLENGES AND OPPURTUNITIES.

As the contemporary retail, sector in India is reflected in sprawling shopping centers, multiplex- malls, and huge complexes offer shopping, entertainment and food all under one roof, the concept, of shopping has altered in terms of format and consumer buying behavior, ushering, in a revolution in shopping in India. This has also contributed to large- scale, investment in real estate sector with major national and global players investing, in developing the infrastructure and construction of relating business.

The trends that are driving the growth of retail sector in India are:

‘ Low share of organized ,retailing

‘ Falling real estate, prices

‘ Increase in disposal, income and customer aspiration

‘ Increase in expenditure, for luxury items

Another credible factor in the, prospects of retail sector in India is the increase in the young working, population. In India, hefty pay packets, nuclear families in urban areas, along, with increasing working- women and emerging opportunities in the service sector. These key factors have been the growth drivers of the organized retail, sector in India which now boast of retailing almost all the preferences of, life- Apparel & Accessories, Appliances, Electronics, Cosmetics and Toiletries, Home & Office Products. With this the retail sector in India is witnessing, rejuvenation as traditional markets make way for new formats such as departmental, stores , hypermarkets, supermarkets and specially stores.

The retailing, configuration in India is fast developing as shopping malls are increasingly, becoming familiar in large cities. When it comes to development of retail space, specially the malls, the Tier II cities are no longer behind in the race. If development, plans till 2007 is studied it shows the projection of 220 shopping malls, with 139, malls in metros and the remaining 81 in the Tier II cities. The government of, states like Delhi and national capital region (NCR) are very upbeat about, permitting the use of land for commercial development, thus increasing, the availability of land for retail space; thus making NCR render to 50% of the, malls in India.

The Indian Retail Scene

India, is the country having the most unorganized retail market. Traditionally it is a, family’s livelihood, with their shop in the front and house at the back, while they, run the retail business. More than 99% retailers, function in less than 500 square feet of shopping space. Global retail consultants, KSA Techno park have estimated that organized retailing in India is expected to ,touch Rs 35,000 crore in the year 2013-14. The Indian retail sector is estimated at ,around Rs 90,000 crore, of which the organized sector accounts for a mere, 2 percent indicating a huge potential market opportunities that is lying in the ,waiting for the customer savvy organized retailer.

Purchasing power of Indian urban consumer is ,growing and branded merchandise in categories like Apparels, cosmetics, Shoes, Watches, are slowly ,becoming lifestyle products that are widely accepted by the urban Indian. consumer. Indian retailers need to advantage of this growth and aiming to grow, diversify and introduced new formats have to pay more attention to the brand, building process. The emphasis here is on retail as a brand rather than retailers, selling brands. The focus should be on branding the retail business itself. In their, preparation to face fierce competitive pressure, Indian retailers must come to, recognize the value of building their own stores as brands to reinforce their, marketing positioning, to communicate quality as well as value for money. The Indian, retail scene has witnessed too many players in a short time, crowding several, categories without looking at their core competencies, or having as well, thought out branding strategy.

Strategies, Trends and Opportunities

Retailing in India is gradually inching its way toward, becoming the next boom industry. The whole concept of shopping has altered, in terms of format and consumer buying behavior, ushering in a revolution in, shopping in India. Modern retail has entered India as seen in sprawling shopping, ce

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Research design argumentative essay help online

2.7 RESEARCH DESIGN USED :

The conception of research design plan is the critical step in the research process. The design ,of the study constitutes the blue print for the collection, measurement and analysis of data. In other words the research design is a conceptual structure with in which,h research is conducted.

2.8 DATA COLLECTION METHODS :

Primary Data: – Primary data are those data which are collected for the first time, and thus hap,pen to be original in character. It is extracted with the help of discussions co,nducted with senior managers with respect to factors affecting the performance.,

Secondary Data: – Secondary data are those data which are already collected by someone else ,and which have already passed through the statistical process. These data are g,athered by Books, Lectures, Notes, and Official Websites etc.

The study make,s extensive use of secondary data. ‘Secondary data are those which have already,y been passed through the statistical process’. The data which is pre-essential for ,this study relating to comparative analysis of Balance Sheet and PROFIT AND L,OSS A/c was based on secondary source of data. This data will be collected fro,m materials provided by Rakshitas Pvt. Ltd., discussions conducted with store m,anagers and some essential

Financial Accounts books.

2.9 LIMITATIONS :,

‘ Data provided is very limited due to the subjectivity of it being highly confidential.,

‘ The data taken for interpretation is for a limited period.

‘ Assumptions, are to be taken into consideration while doing analysis and interpretation, of data.

‘ Due to limited, information, depth analysis could not be made.

2.10 RESEARCH MEASURE TOOLS :

Various financial techniques and statistical tools are used to measure the data used in the study. Column graphs, pie chart etc. is used to highlight the statistical inference,s. The study cannot be completed without balance sheet and profit and loss a/c. ,Therefore three years balance sheet and profit & loss a/c has been taken out for ma,king proper research.

2.11 ANALYSIS OF DATA :

The data collected is secondary, and it’s compiled, classified, tabulated and then analyzed u,sing financial techniques and statistical tools. Graphs and charts are used to hig,hlight the statistics. Based on this data and analysis, inferences are drawn accor,dingly.

2.12 OVER VIEW OF THE CHAPTER :

The Project I,s Presented in the following chapter :-

CHAPTER 1 : INTRODUCTION

This chapter includes introduction to finance, theorectical back ground for the study of the ,various performance, introduction to finance, definition of retail industry and di,fferent type of industry.

CHAPTER 2 : DESIGN OF THE STUDY

This chapter I,ncludes the projects introduction of the subject background, statement of the, problem, objectives of the study, scope of the study, need and purpose of study,, research methodology, research design, data collection method primary and seco,ndary data, limitations, research measure tools and analysis of data.,

CHA,PTER 3 : PROFILE OF THE COMPANY

This c,hapter contains the profile of the company, its origin and background, board of directors, number of branches and organization structure.

CHAP,TER 4 : DATA ANALYSIS AND INTERPRETATION

This ch,apter consists of Table, Graphs, Analysis and Interpretation based on the question,nairies.

CHAPT,ER 5 : SUMMARY OF FINDINGS, CONCULSIONS AND RECOM,MENDATIONS

This chap,ter includes findings based on objectives of the study, conclusion drawn from the f,indings and recommendations given from the analysis.

Chapter:-3

PROFILE OF THE ORGANIZATION

COMPANY PROFILE

RAKSHITAS PVT.LTD.

Rakshitas business con,cept is to offer a broad and varied range of apparels that allows customers to fin,d their own personal style to choose from more than 150 remiums national and int,ernational brands.

Rakshitas is aimed at everyone in the family with an interest in modern basics, fashion, quality and affo,rdable pricing. Customers should always be able to find clothes and accessories ,at Rakshitas for every occasion. The collections are extensive and new arrivals, being launched week after week in each of the 4 floors spread across 20,000 s,q. ft. for Men, Women, Kids and Teen’s casual wear, formal wear, denim wea,r, ethnic and Kancheevaram silks etc. The range and collections are supplemen,ted by matching costume jewellery, premium international watches, perfumes, ,lingerie’s.

Mission

Our mission is to achieve excelle,nce in the products and services we offer, in the methods we employ and in the res,ult we produce.

Products

Menswear: menswear,r means clothing for men. Rakshitas provide various brands for menswear which ,includes formal shirts, casual shirts, trousers, jeans etc. of several variety of int,ernational as well as national brands, for example: -levis, pepe jeans, killer, lee, w,rangler etc.

Women’s wear: Women’s wear means ,clothing for women. Rakshitas provides the best options for women’s apparel rang,ing from skirts to ethnic, casuals as well as formals.

Kids wear: Kids wear are meant only for kids or children ranging below age of 12 years. Rakshitas provides awesome collection for kids which include children formal wear, kurtas, shirt,s etc.

Party wear: Party wear dresses are meant for wearing in parties, functions, special occasions etc. Rakshitas provides variety ranges of party wear which includes lehngas, wedding dresses, traditional indian dress etc.

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Control and organisational behaviour (pengendalian dan perilaku organisasi) devry tutorcom essay help

PENGENDALIAN DAN PERILAKU ORGANISASI

PERILAKU ORGANISASI

Untuk membuat dasar yang nantinya dapat digunakan manajemen dalam menyusun system pengendalian manajemen, maka kita perlu mengetahui lebih dalam mengenai perilaku organisasi. Berikut ini adalah beberapa penjelasan mengenai teori akuntansi sebagai bentuk pemahaman terhadap organisasi.

Definisi Organisasi

Secara umum, organisasi diartikan sebagai sekumpulan orang yang melakukan kerjasama demi mencapai tujuan ‘ tujuan yang telah ditentukan bersama. Organisasi tercipta ketika orang ‘ orang bergabung dan melakukan sesuatu untuk berbagai tujuan dan organisasi dapat mencakup segala aspek dalam kehidupan. Organisasi dapat bersifat formal dan informal. Pekerjaan di dalam suatu organisasi dapat dibagi ‘ bagi dan dikoordinasi sesuai dengan kebutuhan dan keahlian tiap ‘tiap anggota organisasinya untuk mencapai tujuan organisasi tersebut. Suatu organisasi haruslah going concern, dalam arti organisasi tersebut diasumsikan akan hidup selamanya.

Teori Perilaku Organisasi (Theory of Organization Behaviour)

Ada beberapa teori yang menjelaskan mengenai mengapa dan bagaimana orang ‘ orang berperilaku dalam organisasi. Berikut ada dua penjelasan mengenai teori tersebut :

1. Teori jenjang kebutuhan

Teori ini menjelaskan bahwa setiap manusia memiliki kebutuhan yang banyak dan harus dipenuhi dan kebutuhan serta keinginan tersebut tersusun secara rapih, sehingga apabila ada satu kebutuhan terpenuhi maka setelah itu ia akan berusaha memenuhi kebutuhannnya yang lebih tinggi. Dalam teori ini tersirat bahwa system pengendalian manajemen juga didasarkan pada kebutuhan manusia yang terkoordinasi dan dilakukan sesuai dengan tujuan organisasi.

2. Teori motivasi pencapaian

Teori ini lebih mengacu pada perilaku atasan atau manajer dalam perannya saat berorganisasi. Untuk mencapai keberhasilan dan mendapat sebuah kekuasaan, maka manajer tersebut juga perlu memiliki keinginan yang kuat agar dapat menghasilkan prestasi dalam organisasi.

TEORI ORGANISASI

Pengetahuan yang dalam mengenai organisasi sangatlah diperlukan oleh para pelaku organisasi dalam pelaksanaan system pengendalian manajemen organisasi tersebut. Para pelaku organisasi harus benar ‘ benar mengetahui semua poin dalam organisasi termasuk sejarah organisasi, tujuan organisasi, bagaimana perilaku para pelakunya hingga reaksi organisasi tersebut terhadap lingkungan.

Tak berbeda dengan teori perilaku akuntansi, dalam teori organisasi juga terdapat banyak teori yang membahas mengenai organisasi. Dan disini akan dibahas mengenai dua teori juga tentang organisasi, yaitu :

1. Teori Organisasi yang Berorientasi ke Dalam

Banyak organisasi dianggap indepen dan tidak terlalu memperhatikan lingkungan luar oleh beberapa teori. Teori organisasi yang berorientasi ke dalam ini banyak dijadikan dasar oleh sebagian besar system pengendalian manajemen dalam suatu organisasi hal tersebut didasarkan karena dalam teori ini mencakup tanggung jawab dalam pengambilan keputusan yang berlaku menurut proyek ‘ proyek, program ‘ program serta komponen ‘ komponen fungsionalnya.

2. Teori Organisasi yang Berorientasi ke Luar

Teori ini adalah teori kebalikan dari teori sebelumnya yaitu teori organisasi yang berorientasi ke dalam. Teori ini beranggapan bahwa suatu organisasi selalu berhubungan dengan lingkungan di sekitarnya. Ada dua jenis organisasi yang menganut teori organisasi yang berorientasi keluar ini, yaitu :

– Organisasi system umum terbuka

– Organisasi system manajemen

TIPE ORGANISASI

Ada tiga jenis atau tipe organisasi, yaitu :

1. Organisasi Fungsional

Dalam tipe organisasi ini, penekanan lebih ditujukan kepada manajer yang sangat harus bertanggung jawab terhadap suatu fungsi tertentu, seperti fungsi produksi, fungsi pemasaran dan fungsi lainnya yang diterapkan dalam organisasi tersebut. Fungsi ‘ fungsi tersebut dapat dihimpun oleh fungsi yang lebih tinggi dalam organisasi itu juga. Organisasi ini berpotensi membuat efisiensi perusahaan yang lebih baik karena menggunakan masukan ‘ masukan dari manajerial yang lebih tinggi.

2. Organisasi Divisi

Dalam organisasi ini, semua manajer harus bertanggung jawab terhadap hamper keseluruhan fungsi dalam proses produksi serta distribusi lini pada organisasi tersebut. Orientasi organisasi divisi lebih terbuka yang berarti lebih menekankan bahwa para manajer harus peka terhadap pengaruh ‘ pengaruh yang dating dari luar yang mungkin dapat mempengaruhi kinerja organisasi.

3. Organisasi Matriks

Ada dua struktur organisasi dalam organisasi matriks, yaitu ditata berdasarkan fungsi dan ditata berdasarkan program. Pada organisasi matriks, para manajer bertanggung jawab penuh atas profitabilitas dari lini produk organisasi tersebut dimana proses produksi dilakukan oleh unit ‘ unit organisasi fungsional.

Teori Kemungkinan (Contingency Theory)

Untuk mengendalikan suatu manajemen menggunakan tiga macam pendekatan, antara lain :

1. Pendekatan tradisional

Pendekatan ini menekankan pada perencanaan, pendekatan dan pengendalian.

2. Pendekatan system

Pendekatan ini menekankan padapenggunaan sumber daya manusia sebagai pertimbangan dalam pengambilan keputusan.

3. Pendekatan perilaku

Pendekatan ini menekankan pada pengendalian manusia termasuk di dalamnya motivasi dan prediksi.

PERILAKU MANAJEMEN

Organisasi dan sistemnya yang rumit akan mempengaruhi perilaku manusia menjadi rumit pula.

Konsep Fundamental

Agar suatu organisasi ‘terkendali’ maka para anggota organisasi harus mengetahui dengan baik apa sebenarnya yang diinginkan oleh manajemen. Untuk merealisasikan hal tersebut, dapat menggunakan banyak informasi yang telah disediakan oleh manajemen organisasi seperti anggaran hingga kebijakan organisasi. Tujuan organisasi dibuat oleh para manajer senior dan dilaksanakan oleh manajer operasional untuk selanjutnya para manajer senior menerapkan system pengendalian manajemen untuk mengontrol organisasi tersebut.

Persepsi Tujuan

Para manajer operasional harus benar ‘ benar mengetahui apa tujuan organisasi. Para manajer operasional tersebut dapat secara mudah mendapatkan informasi ‘ informasi yang mereka butuhkan dari berbagai sumber baik dari dokumen maupun percakapan informal saja. System pengendalian manajemen yang efektif dapat menguatkan kepastian suatu perusahaan.

Organisasi Informal

Adanya organisasi informal di dalam organisasi formal sering menyebabkan adanya salah persepsi mengenai tindakan yang diharapkan. Hubungan pada organisasi informal tidak tercantum di dalam bagan organisasi, padahal hal tersebut cukup penting untuk pemahaman system pengendalian organisasi tersebut.

Motivasi

Reaksi pada pelaku organisasi terutama manajemen terhadap organisasi dapat berbeda tergantung pada motivasinya. Motivasi dapat bermacam ‘ macam, misalnya kenaikan gaji, promosi, pujian dan lain ‘ lain. Motivasi timbul dari dalam pribadi masing ‘ masing, tetapi motivasi dapat dipengaruhi oleh rangsangan dari lingkungan sekitarnya.

Keselarasan Tujuan (Goal Congruence)

Setiap manusia memiliki tujuan pribadi, begitu juga dengan organisasi yang juga memiliki tujuan bersama. Salah satu tugas penting system pengendalian adalah menyelaraskan kedua tujuan tersebut serta mencapainya demi mendapatkan kepuasan bersama. Semakin kuat hubungan antara tujuan pribadi dan tujuan organisasi, maka ssistem pengendalian organisasi tersebut akan semakin kuat juga.

Kerjasama dan Konflik

Suatu organisasi tidak akan berjalan dengan baik apabila para anggotanya tidak bekerjasama dengan baik secara terkoordinasi, untuk itu di dalam organisasi sangat dibutuhkan kerjasama yang terkoordinir dan selaras. Selain itu, organisasi juga harus menjaga koordinasi dan keselarasan tersebut agar tidak terjadi konflik yang dapat mengganggu kinerja organisasi. Konflik tersebut dapat terjadi karena berbagai alasan, salah satunya adalah dengan adanya persaingan didalam organisasi tersebut.

Iklim Organisasi (Organizational Climate)

Secara singkat, iklim organisasi dapat diartikan sebagai hasil kombinasi dari struktur formal dan struktur informal pada suatu organisasi. Dan menurut pemahaman saya iklim organisasi merupakan suasana di dalam organisasi dimana tiap pelaku organisasi di dalam organisasi saling membantu, saling menilai, dan memahami antara satu dengan yang lain. Iklim organisasi ikut mengambil bagian penting dalam organisasi. Keduanya saling mempengaruhi satu sama lain.

Tipe Pengendalian

Pelaku pengendalian Sumber arah pengendalian Macam ‘ macam Pengendalian

Ukuran prestasi dan tingkah laku Isyarat untuk tindak koreksi Imbalan untuk prestasi Hukuman untuk kegagalan

Organisasi formal Rencana organisasi, strategi, tanggapan atas persaingan Anggaran, biaya standar, target penjualan penyimpangan Penghargaan manajemen, insentif uang, promosi Minta penjelasan

Kelompok informal Keterikatan bersama cita’cita kelompok Norma-norma kelompok penyimpangan Pengakuan rekan, keanggotaan, kepemimpinan Ejekan, pengasingan, permusuhan

Perorangan Tujuan pribadi, aspirasi Harapan pribadi, target antara Dugaan akan kegagalan di masa yang akan dating, target tak tercapai Kepuasan karena ‘terkendali’ kegembiraan Merasa gagal

Sumber : Disarikan dari Gene W. Dalton dan Paul R. Lawrence, Motivation and Control in Organizations (Homewood, III. : Richard D. Irwin, 1971). Hak Cipta 1971 oleh Richard D. Irwin Inc.

Variasi dalam Pengendalian

Hakekat system pengendalian manajemen dibedakan menurut sifat pekerjaan, macam organisasi, lingkungan daan peran manajer. Berikut adalah tiga dimensi yang perlu diperhatikan dalam penggunaan dan pengembangan system pengendalian manajemen :

1. Besar keleluasaan manajemen

2. Besar interdependensi

3. Rentang waktu pelaksanaan

FUNGSI KONTROLER

Kontroler dapat diartikan sebagai petinggi atau pejabat yang bertanggung jawab atas apa yang telah direncanakan oleh organisasi dan bagaimana pengoperasiannya. Tanggung jawab para kontroler berbeda ‘ beda di tiap organisasi bahkan di tiap divisinya. Tanggung jawab kontroler didasarkan pada posisinya masing ‘ masing. Tanggung jawab tersebut dilaksanakan secara langsung. Selain tanggung jawab dalam perencanaan dan pengoperasian tersebut, berikut ini adalah fungsi lain dari kontroler :

a. Menyiapkan laporan kepada pihak pemerintah serta pihak ‘ pihak luar lainnya.

b. Mempersiapkan pengembalian pajak.

c. Mempersiapkan dan melakukan analisa terhadap laporan prestasi keuangan.

d. Membantu para manajer dengan cara melakukan analisa sertab menafsirkan laporan ‘ laporan tersebut.

e. Menggunakan prosedur pemeriksaan intern dan pengendalian akuntansi, memastikan validitas informasi, menetapkan usaha perlindungan yangcukup terhadap berbagai penyimpangan serta melakukan pemeriksaan operasional.

f. Melakukan pengembangan kepada orang ‘ orang yang ia pimpin serta berperan langsung dalam penambahan pengetahuan mengenai fungsi kontroler

g. Mengadakan manajemen kas, asuransi serta kegiatan ‘ kegiatan lainnya demi pengamanan kekayaan perusahaan.

Hubungan dengan Organisasi Lini

Kontroler juga memiliki hak untuk membuat kebijakan ‘ kebijakan dalam organisasi. Namun keputusan ‘ keputusan tersebut merupakan realisasi pelaksanaan kebijakan ‘ kebijakan yang telah dibuat oleh manajer lini. Dengan kata lain, terdapat keselarasan antara kedua belah pihak. Hal tersebut tentunya sangat baik untuk menjaga kelancaran jalannya organisasi tersebut.

Kontroler Divisi

Kebanyakan perusahaan atau organisasi membagi organisasinya tersebut menjadi beberapa divisi yang dikepalai oleh seorang manajer. Manajer divisi tentu juga memiliki kontroler divisi. Dalam hal ini, kontroler divisi harus patuh kepada manajer divisi dan juga kontroler perusahaan yang terkadang beda kepentingannya. Penilaian prestasi terhadap kontroler divisi dapat dilakukan dengan menilai beberapa poin, antara lain :

– Laporan akuntansi dan keuangan

– Pengetahuan mengenai operasi divisi

– Sasaran dan pelaksanaan kepatuhan terhadap kebijakan

– Kontribusi manajemen

– Pengetahuan terhadap akuntansi

– Kejujuran dan profesionalisme

– Kemauan bekerjasama

– Organisasi dan staf

– Inisiatif dan semangat

HUBUNGAN LINI-STAF

Seorang manajer divisi dapat dikatakan tidak memiliki staf maupun asisten pribadi. Manajer tersebut mendapatkan bantuan dari :

1. Tenaga yang ditugaskan untuk membantunya dari staf umum, insinyur serta petugas pembelian

2. Staf pusat yang dapat dimintai bantuan kapan saja sebanyak mungkin.

HUBUNGAN MANAJER DIVISI ‘ KONTROLER

Untuk mencapai kesuksesan organisasi dalam hubungannya dengan manajer divisi, maka organisasi perlu membina kerjasama yang baik dan solid di tiap ‘ tiap manajemen. Berikut merupakan beberapa factor yang dapat mempengaruhi hubungan baik adalah :

1. System akuntansi yang seragam dan terpusat

2. Sasaran ‘ saasaran keuangan yang telah ditetapkan sebelumnya untuk tiap ‘ tiap divisi.

(Pertumbuhan penjualan serta besar laba penjualan)

3. Pembagian laba antara kontroler dan manajer

SISTEM AKUNTANSI

Selain memiliki tanggung jawab dalam perencanaan dan pengoperasian organisasi, divisi kontroler juga memiliki kewenangan atas system akuntansi yang akan digunakan oleh organisasi tersebut termasuk di dalamnya menetapkan cara dan jenis pos ‘ pos yang harus mereka awasi. Sistem akuntansi dijadikan dasar dalam penyusunan laporan keuangan beserta analisisnya.

SASARAN ‘ SASARAN DIVISI

Seperti yang telah disebutkan pada bagian sebelumnya, perusahaan atau organisasi memiliki sasaran keuangan, yaitu pertumbuhan penjualan dan tingkat laba. Tingkat laba dalam organisasi atau perusahaan ditetapkan sebaga persentase penjualan. Berikut ini adalah beberapa factor penentu target laba penjualan :

1. Kemungkinan pematenan produk

2. Besar laba atas investasi yang diinginkan

3. Besar laba industry bersangkutan

4. Besar laba investasi bersangkutan

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Business notes: Creative problem solving high school essay help

1 Unit 1 – Creative problem solving

1.1 Introduction

A business leader is expected to identify problems, implement solutions and find business opportunities. To do so, they must learn to plan, analyse situations, identify and solve problems (or potential problems), make decisions, and set realistic and attainable goals for the business/unit. These are the fundamental thinking/creative requirements for leadership, and these set direction to a successful future. Without this critical competence, you will have to rely on others to do your thinking for you, or you will simply have to learn to nurture your creative thinking skills which will help you on your journey towards successful business.

Creative thinking forms part of this continuous problem solving process, and is the fundamental basis for facilitating in the development of solutions, new initiatives, products or services. In an entrepreneurial context, the end result of this process should be directly linked to a feasible opportunity in the market environment.

Quote – What lies behind us and what lies before us, are tiny matters, compared to what lies within us. – William Morrow

The creative problem solving process consists of the following four steps:

‘ Problem analysis

‘ Solution analysis

‘ Decision analysis

‘ Solution implementation

1.2 The process

The creative problem solving process consists of an important core process, namely the idea generation process see figure 1. This is an important step, especially if you need to come up with creative ideas for products, services, and processes, to solve a consumer problem. The idea generation process consists of the following four steps:

‘ Step 1 – Generating ideas

‘ Step 2 – Developing ideas into a concept

‘ Step 3 – Converting a concept into a tangible or intangible product

‘ Step 4 – Finally protecting the tangible or intangible product

Figure 1 – The process of creative thinking (idea generation)

Initially you need to understand the problem and find the root cause of the problem. Many techniques are available to find the causes of problems, you can use the 5 Why technique in this case, if you are familiar with it. The more advanced courses will describe how to use the major problem identification techniques, but this course will focus on the idea generation process.

1.3 Where to start

In the entrepreneurial phase, the best way to start the idea generation process is when you are required to come up with a new product or service, to identify a potential consumer problem. Initially, focus on identifying problems in the area of your expertise (your knowledge base).

If you have no knowledge of the problem, the product development stage could be a challenge for you.

You will learn in the next section that not all problems are opportunities, and entrepreneurs should be careful as to how they approach this stage, when generating ideas in trying to identify a new product or service.

1.4 Problem versus opportunity

In most cases, the idea-generation phase in the creative problem solving process is neglected. Individuals normally identify a problem or an opportunity (which may seem like an opportunity, but is actually just an idea), and then develop a new product in line with the new assumed idea or opportunity. It is therefore important to distinguish between an idea and an opportunity. Resources may be wasted if a mere idea is incorrectly perceived as an opportunity.

Any opportunity is initially problem based (e.g. a coffee shop in a destination where there is a lack thereof, this creates several problem situations and potentially feasible opportunities for the entrepreneur). The creative thinking (idea generation process) involved, is the means to solving these problems, and bring forth solutions to the market problems, which create further opportunities.

1.4.1 Difference between problem and opportunity

There is, however, a critical difference between a problem and opportunity. Consider the following:

‘ Is it an idea or an opportunity to develop a high speed train between two major cities which are not far from each other? Some may say it is a great idea, but when you need to pay R200 a day to make use of it, it is simply not an opportunity. Only a few people would make use of the service, resulting in a negative impact on the market.

‘ If it is possible to transport people between the two cities for a lower cost, say R10, it would possibly be a more feasible opportunity.

Here is a good example of an opportunity – Around the turn of the twentieth century, a shoe manufacturer sent a representative to Africa, to open up a market in the undeveloped area in that continent. After exploring the culture for a month, the rep sent a telegram to the home office shouting,

‘Disaster! Disaster! These people do not wear shoes. Bring me home immediately!’

A short time later, another shoe company sent their agent to Africa for the same purpose. A month later his home office also received a telegram:

‘Opportunity! Opportunity! These people do not wear shoes! Triple production immediately!’

Quote – Every situation contains the potential for disastrous problems or unprecedented success. The event is what we perceive it to be. Unknown

Now the question arises: How do I distinguish between an idea and an opportunity? Looking at above examples, every problem is not an opportunity, and it really depends at how you are looking at the problem. If you see a viable opportunity in a problem then you are looking at the problem with a different perception than most people (the glass is half full or half empty). From a business perspective all opportunities are not necessarily a viable opportunity, the market determines the available opportunities. Without the knowledge to interpret the market conditions, you could miss it totally in terms of your opportunity analysis.

Table 1 shows the different industries in South Africa, the level of entrepreneurial activity, and how the same opportunity differs in each of these market areas.

1.4.2 The global entrepreneurship monitor

The Global Entrepreneurship Monitor ‘ specifically identified the entrepreneurial activity in the various industries of South Africa. It can be generalized to state that an industry with a high level of entrepreneurial activity, gives away more business opportunities (e.g. manufacturing, retail, hotel, restaurant and business services), while one with a lower level will indicate far less opportunities (e.g. agriculture, forestry, hunting, fishing, finance, insurance, real estate and health, education and social services).

If we analyse just one ‘high-opportunity’ industry, for instance manufacturing, it may be an opportunity today to manufacture a final product, and export it to an international market. A ‘low-opportunity’ industry, for instance insurance (especially in the market entry phase), may be negative as having an extremely high crime rate and insurance companies have to pay out claims at an alarming rate. It is also evident that low-opportunity industries may create feasible opportunities.

An entrepreneur should therefore be wary of following a fad, (latest trend) and exploiting assumed opportunities in a ‘popular’ industry.

Percentage of Entrepreneurs

ISIC Category Start-ups New Firms Total

Agriculture, forestry, hunting, fishing 1,3 2,6 1,6

Mining, construction 9,7 5,0 4,1

Manufacturing 14,3 19,1 13,8

Transport, communications, utilities 9,8 0,7 8,0

Wholesale, motor vehicle sales, repairs 6,0 6,5 6,3

Retail, hotel, restaurant 40,8 47,7 43,5

Finance, insurance, real estate 0,3 5,2 1,4

Business services 10,1 7,9 9,4

Health, education, social services 2,6 0,7 2,3

Consumer services 11,0 3,5 9,7

Source: Driver. Wood, Segal & Herrington, 2001

Table 1 – The percentage of entrepreneurs in the different industries in South-Africa

1.4.3 What is an opportunity?

What exactly is an opportunity and how does an entrepreneur exploit a feasible opportunity? According to Hesrich & Peters (2002), an opportunity is the process whereby the entrepreneur assesses whether a certain product, service or process, will yield the necessary earnings based on the resource inputs that are required to manufacture and market it.

The nature of opportunities needs to be assessed – thus, what leads to the existence of an opportunity? The following factors may result in an opportunity:

‘ General and specific problems faced by consumers

‘ Market shifts

‘ Government regulations

‘ Competition

There are two equally important criteria in the assessment of an opportunity. Firstly, the size of the market – will the number of customers reward the input and energy required, to create and deliver the product?

Secondly, the length in terms of the frame of the opportunity (window of opportunity). For example, is the demand for this product only a short fashionable phenomenon or is it based on sustainable business, or how long will it take before someone else (a competitor), to grab the opportunity?

These two aspects should also link directly to the personal skills and competence of the entrepreneur. For example, entrepreneurs with no skills or interest in information technology will not necessarily achieve their personal goals. They should rather venture into an opportunity which suits their experience and personality.

1.4.4 Transform opportunity into a business

Table 2 shows how the development of a business plan links to the identification and evaluation of opportunities, the determination of the resources required and the eventual management of the enterprise. All of these factors play a significant role in the correct assessment of the business opportunity.

This means that the business plan must explain in sufficient detail how the business will exploit the situation, to transform the opportunity, into solving a problem for the consumer, which generates extraordinary profits for the people involved.

Identify and evaluate the opportunity Develop the business plan Determine the resources needed Manage the enterprise

Creation and length of opportunity

Real and perceived value of opportunity

Risk and returns of opportunity

Opportunity versus skills and goals

Competitive situation Title page

Table of contents

Executive summary

Description of business

Description of industry

Marketing plan

Financial plan

Production plan

Organisational plan

Operational plan

Summary

Appendices Existing resources of the entrepreneur

Resource gap and available supplies

Access to needed resources Management style

Key variables for success

Identification of problems and potential problems

Implementation of control systems

Source: Hisrich, R.D. & Peters, M.P. 2002: 40. Entrepreneurship. Boston: Irwin/McGraw-Hill.

Table 2 – Link between Opportunity and business plan

1.5 Instruction

Exit and resume to your current page.

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The importance of employee engagement in an organization scholarship essay help

1.4 Literature Review

Mark Kilsby and Stephen Beyer (1996) ‘ Engagement and Interaction : A comparison between supported employment and acts’. This research study was conducted with the help of interaction and commitment patterns of 13 supported employees and 38 regular adult training center attainders of the organization. Direct observation was used as method of data collection, within the 13 employment sites and a representative sample of ATC organized activities. Because of the higher level of task specific dialogue between individuals and the service of the organization it is found that there is more of social interaction in ACT. Interaction of employees with public within office hours was the cause for this as per the study conducted.

Douglas R. May, Richard L, Gilson and Lynn M . Harter (2004) ‘The Psychological Conditions Of Meaningfulness ,Safety And Availability And The Engagement Of The Human Spirit At Work’. This shows the study about a U.S western company which explored the determinants and mediated the effects of tree psychological conditions they are meaningful, safe and available. The above studies shoes that all the three factors (meaningfulness, safety and availability) have a positive relation with the engagement of an employee in the organization. In other words they are completely associated with the psychological safety where as loyalty to co worker norms and self- consciousness are negatively related.

Despoina Xanthopaolou, Arnold B, Bakker, Evangelia Demerouti and Wilmar B.Schaufeli (2009) ‘Work Engagement And Financial Returns : A Diary Study On The Role Of The Job And Personal Resources’. The above study shows that how daily fluctuations in job can affect the level of personal resource , financial returns and work engagement. Different level of analysis revealed that day level job resources had an effect on work engagement through the day level personal resources. When there was a control for the general level of personal resources and organizational engagement Day level work engagement showed a positive way towards day level training, which in turn showed the financial returns.

Dan-Shang Wang and Chia ‘Chun Hsieh (2013) ‘The Effect Of Authentic Leadership On Employee Trust And Employee Engagement’ they have examined the genuine leadership on employee engagement through employee trust. They have collected data from 386 employees from top 1000 manufacturing companies and top 500 service companies in Taiwan. Hierarchical multiple regression was used to test the hypothesis on the employees. Later on the results shows that the consistency between the supervisors , words and actions as well as their moral perceptions are optimistically related to employee engagement , when only supervisors are consist between the words and actions in positively related employment trust. The study shows how employee engagement had a positive trust on employee. Employee trust has a partial link between authentic leadership and employee engagement.

Benjamin J.C, Yuan and Michael B.H. Lin (2012) ‘Transforming Employee Engagement Into Long-Term Customer Relationships: Evidence From Information Technology Salespeople In Taiwan’. This article shows that when information sales people in Taiwan have perceived more transformational leadership and they were more expected to show increased development in work engagement. Over a period of time it was found that increased development in work engagement influenced the increased customer relationship. It showed how employee engagement is indirectly co related with customer relationship.

Xander M.Bezuijen, Karen Van Dam, Peter T . Van Den Berg and Henk Thierry (2010) ‘How Leaders Stimulate Employee Learning : A Leader ‘ Member Exchange Approach’. This study investigated how the three factors as such as leader member exchange, goal setting, and feedback are related to employee engagement in the learning activities. Here, two different mechanisms were proposed , first one a mediating mechanism telling that leader member exchange shows specific leader behavior. The second one is it as a moderating mechanism , holding that leader member exchange will strengthen the effect of leader behavior from 7 organizations a sample of 1112 employees was taken , to measure the leader member exchange approach. 233 of the direct leaders answered that they find difficulty in rating employee engagement in learning activities.

Maureen F.Dollard and Arnold B. Bakker (2010) ‘Psychosocial Safety Climate As A Precursor To Conducive Work Environment , Psychological Health Problems , And Employee Engagement’. This article shows the gap between work psychology and psychosocial working condition. Where we construct a psychosocial working condition PSC. It explains how PSC influences the senior management in psychological working conditions and in psychological health and engagement. They use the job demand and resources as a frame work and uses a multi level thinking into their explanation

James R.Jones (2009) ‘Comparative Effects On Race/Ethnicity And Employee Engagement On Withdrawal Behavior’. This study have added knowledge on the basis of effects on employee attachment. In addition to that it provides more evidence on looking at all types of employees as a single entity which can lead to false results.

Shane Crabb ( 2011) ‘The Use Of Coaching Principles To Foster Employee Engagement’. The above article focuses on the human condition that leads to the happiness of fulfillment and flourishing of employee engagement. Where positive psychology results in so many questions from traditional psychological approaches .Which have mean to focus on a different model of human functioning with healing people fail. In another way positive psychology takes additional holistic approach to human life. Seeing the positive and negative aspects of context when establishing what is right , working and good of people.

Roberta A . Neault and Deidre A .Pickerel (2011) ‘Career Engagement : Bridging Career Counseling And Employee engagement’ . this article is showing that employee counselors helps individuals in maximizing their career engagement at any career stage of an individual. When you facilitate career engagement it contributes to employee engagement which employee are looking for. They even encourages others to use the career engagement and employee engagement models as vehicles to combine the employers to interest in engagement counselors to create interest in supporting the development of employee an motivate them to work.

2.1 Title: A Cross Sectional Study Of Employee Engagement In Apollo Hospitals.

2.2 Objectives:

1. To determine the level of Employee Engagement in Apollo Hospitals.

2. To identify the factors of Employee Engagement.

3. To analyze and suggest strategies for improvement.

2.3 Research Methodology:

I had adopted descriptive research design for the purpose of this

Survey on employee engagement. The primary data was collected from the 100 employees conveniently selected from Apollo Hospitals Bangalore, through structured questionnaire.

2.4 Limitations:

1) The survey was carried out for a sample sized of 100 working staff only.

2) Findings and suggestion of this research are applicable only to Apollo Hospitals.

3) As an fact finding study advanced statistical tools or analysis are not used.

Table 1.1 Weighted Average on Opportunities for growth

X 1 2 3 4 5

I have adequate opportunities for professional growth in this organization. (X1) 10 20 32 19 19

I receive the training I need to do my job well.(X2) 2 52 22 16 08

My manager is actively interested in my professional development and advancement.(X3) 32 21 12 18 17

My manager encourages and supports my development (X4) 08 10 40 18 24

I am encouraged to learn from my mistakes (X5) 52 23 16 04 05

My work is challenging, stimulating, and rewarding(X6) 28 14 33 16 09

X1 ?? XI X2 ?? X2 X3 ?? X3 X4 ?? X4 X5 ?? X5 X6 ?? X6

10 50 2 10 32 160 08 40 52 260 28 140

20 80 52 208 21 84 10 40 23 92 14 56

32 96 22 66 12 36 40 120 16 48 33 99

19 38 16 32 18 36 18 36 04 08 16 32

19 19 08 08 17 17 24 24 05 05 09 09

TOTAL 283 TOTAL 324 TOTAL 333 TOTAL 260 TOTAL 413 TOTAL 336

Table 1.2 Calculation Of Weighted Average on Opportunities for growth

283/100 2.83 324/100 3.24 333/100 3.33 260/100 2.60 413/100 4.13 336/100 3.36

RANKED 6 RANKED 4 RANKED 3 RANKED 5 RANKED 1 RANKED 2

Table 1.3 Showing The Rank Of Each Component of Opportunities for growth

INFERENCE

The above table shows that the employees are encouraged to learn from their mistakes that is 4.15 out of 5.the work is stimulating rewarding and challenging is ranked 2nd.the manager is actively interested in employees professional growth is

ranked 3rd.the level of opportunity for professional growth shows the least ranking.

Table 1.4: Showing Adequate Opportunities/ Professional growth

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

10 20 32 19 19 100

Chart 1.1: Showing Adequate Opportunities/ Professional growth

Interpretation:

32% of the employees from the given population says that they have a neutral opportunity to grow where as 10 % stands in the outstanding category and 20% of them in good category. An equal no of employees disagree to the fact in the other hand that is 19% of the given population.

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

2 52 22 16 8 100

Table 1.5: Showing Training

Chart 1.2: Showing Training

Interpretation:

In the given sample 52% of the employees agrees to the fact that they receive good training in order to do their job efficiently and 2% strongly agrees. where 22 % is neutral to the situation given.16 % of them do not get proper training they required to do their jobs and 8 % strongly disagree to it. It is clear that the organization is giving a proper training to employees to make their work effective.

Table 1.6: Showing Professional Development And Advancement

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

32 21 12 18 17 100

Chart 1.3: Showing Professional Development And Advancement

Interpretation:

Most of the employees agree that their manager takes attention in their professional development steps. 32 % to 25 of the employees from the given sample have strongly agreed and agreed to it respectively. whereas 12 % is neutral to it . but 18% to 17% disagrees and says that they are not taken care in respective of their advancement in profession.

Table 1.7: Showing Encouragement And Support

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

8 10 40 18 24 100

Chart 1.4: Showing Encouragement And Support

Interpretation:

From the above graph its clear that 40% of the employees neither agree or disagree that management encourage them or support them. 8% to 10% agrees that they have been supported by the management . but 18 % to 24 % disagree to the fact that management supports them .

Table 1.8: Showing Challenges, Stimulation And Reward

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

52 23 16 4 5 100

Chart 1.5: Showing Challenges, Stimulation And Reward

Interpretation:

More than half , 52% of the employees states that they have a challenging stimulating and rewarding work. A very few of them disagree to it 4 % to 5% . and 23 % of them agrees t it there is a majority of people agreeing to it.

Table 1.9: Showing Encouragement

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

28 14 33 16 9 100

Chart 1.6: Showing Encouragement

Interpretation:

There is a 28% of people agreeing to it. And 16 % to 9 % disagreeing to the fact that they are not encouraged to learn from their mistakes .

Table 1.10: Showing Weighted Average on Work/Life Balance; Stress and Work Pace

X 1 2 3 4 5

My manager understands the benefits of maintaining a balance between work and personal life. (X1) 02 13 08 48 29

My job does not cause unreasonable amounts of stress in my life. (X2) 30 13 08 48 29

The amount of work I am asked to do is reasonable. (X3) 40 20 12 14 14

I am able to satisfy both my job and family/personal responsibilities. (X4) 27 12 08 09 44

X1 ?? X1 X2 ?? X2 X3 ?? X3 X4 ?? X4

02 10 30 150 40 200 27 135

13 52 13 52 20 80 12 48

08 24 08 24 12 48 08 24

48 96 48 96 14 28 09 18

29 29 29 29 14 14 44 44

TOTAL 211 TOTAL 351 TOTAL 370 TOTAL 269

Table 1.11: Showing Calculation Of Weighted Average on Work/Life Balance; Stress and Work Pace

Table 1.12: Showing The Rank Of Each Component of Work/Life Balance; Stress And Work Pace

211/100 2.11 351/100 3.51 370/100 3.7 269/100 2.69

RANKED 4 RANKED 1 RANKED 2 RANKED 3

INFERRENCE

By analysing the given data using weighted average method that the level of stress reduced in the employees is 3.51 out of 4 , and the amount of work the employee is asked to do is 3.7. the employee is able to balance between family and personal responsibility is 2.69 . the managers understanding in the benefits and maintaining balance between work and personal life should be taken care because it is got only 2.11 which have least rank

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

2 13 8 48 29 100

Table 1.13: Showing Work/Life Balance; Stress And Work Pace Balance Between Work And Personal Life

Chart 1.7: Showing Work/Life Balance; Stress And Work Pace Balance Between Work And Personal Life

Interpretation:

Only 2% of the employees says that there is a balance between work life and personal life. 13% of them agrees to it and 8% is neutral to it.but 48% of the sample disagrees and 29 % of them strongly disagrees to it.

Table 1.14: Showing Stress Level In Employees Life

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

30 13 8 48 29 100

Chart 1.8: Showing Stress Level In Employees Life

Interpretation:

30% of the employees strongly agrees that the job doesn’t cause much stress where 13% of them agrees and 8% is neutral to it. But 48%of them disagree nd 29% strongly disagrees and states that job causes stress in their life.

Table 1.15: Showing Amount Of Work Asked To Do

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

40 20 12 14 14 100

Chart 1.9: Showing Amount Of Work Asked To Do

Interpretation:

40% of them strongly agrees that they have sufficient amount of work and they do not feel any stress where 20 % of them agrees. 12% of the sample is neutral.14% of them disagrees they don’t have suffient amount of work or they are overloaded with the work given.

Table 1.16: Showing Satisfying Family / Personal Responsibilities

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

40 20 12 14 14 100

Chart 1.10: Showing Satisfying Family / Personal Responsibilities

Interpretation:

44% of them strongly disagree that they are not able to complete their job, family and personal responsibilities. 27 % to 12 % agrees to it and 8% is neutral to that. It shows that employees are not satisfied with the amount of work given to them.

Table 1.17: Showing Weighted Average on Personal Expression / Diversity

X 1 2 3 4 5

My ideas and opinions count at work. (X1) 03 18 19 32 28

I am comfortable sharing my opinions at work. (X2) 10 08 28 42 12

We work to attract, develop, and retain people with diverse backgrounds. (X3) 10 13 09 56 12

Senior management is genuinely interested in employee opinions and ideas. (X4) 24 23 36 07 10

People with different ideas are valued in this organization. (X5) 20 18 40 13 09

Table 1.18: Calculation Of Weighted Average on Personal Expression / Diversity

X1 ?? X1 X2 ?? X2 X3 ?? X3 X4 ?? X4 X5 ?? X5

3 15 10 50 10 50 24 120 20 100

18 72 08 32 13 52 23 92 18 72

19 57 28 84 09 27 36 108 40 120

32 64 42 84 56 112 07 14 13 26

28 26 12 12 12 12 10 10 09 09

TOTAL 234 TOTAL 262 TOTAL 253 TOTAL 344 TOTAL 327

234/100 2.34 262/100 2.62 253/100 2.53 344/100 3.44 327/100 3.27

RANKED 5 RANKED 3 RANKED 4 RANKED 1 RANKED 2

Table 1.19: Showing The Rank Of Each Component of Personal Expression / Diversity

INFERRENCE

By analysing the above table it shows that senior management is interested in personal opinions which shows the rank 1. And people with different ideas are valued in the organisation are considered 3.27 out of 5. Employees are free to share their ideas 2.62. the employees work in such a manner to attract and retain others 2.53 ,which has got the 4th rank. Ideas counted at work has got the least rank where they have to work on that part.

Table 1.20: Showing Idea And Opinion Count

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

3 18 19 32 28 100

Chart 1.11: : Showing Idea And Opinion Count

Interpretation:

Only 3% of the employees agree that the management listens to their ideas and opinions. 18% of them agree to it as well. 19 % is neutral to the situation. Whereas there is a huge no of the sample size that is32% to 28% who is disagreeing to it. Their opinions and ideas are not taken seriously by the management.

Table 1.21: Showing Level Comfort in Sharing Opinions

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

10 8 28 42 12 100

Chart 1.12 : Showing Level Comfort in Sharing Opinions

Interpretation:

The conducted shows that onl10% to 8% employees are comfortable in sharing their problems with the upper management. Rest of the sample that is 42% is disagreeing that they are not comfortable in sharing their ideas or problems.12% of them strongly disagrees.

Table 1.22: Showing The Work They Do Is To Attract , Develop And Retain

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

10 13 9 56 12 100

Chart 1.13: Showing The Work They Do Is To Attract , Develop And Retain

Interpretation:

56% of the employees disagrees that they don’t work to attract ,develop or retain customers. Where 10% to 13% agrees to the statement . a little sample size of 12% strongly disagrees to the statement .

Table 1.23: Showing Senior Management Interest In Employee Opinion And Ideas

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

24 23 26 7 10 100

Chart 1.14: Showing Senior Management Interest In Employee Opinion And Ideas

Interpretation

The management shows interest in taking employees ideas and opinions.24% of them agrees and 23% of the strongly agrees to the statement. A huge sample ,36% id neutral to the statement. But a little sample, 7% to 10% disagrees to the statement.

Table 1.24: Showing People With Different Ideas Are Valued

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

20 18 40 13 9 100

Chart 1.15: Showing People With Different Ideas Are Valued

Interpretation:

20% to 18% of the employees agree that people with different ideas are well accepted in the organization. 40% to the employees are neutral to the statement. 13 % to 9% of the sample disagrees to the statement on the other hand.

Table 1.25: Showing Weighted Average On Compensation

X 1 2 3 4 5

I am paid fairly for the work I do. (X1) 19 42 12 25 2

My salary is competitive with similar jobs I might find elsewhere.(X2) 32 12 28 23 5

My benefits are comparable to those offered by other organizations.(X3) 8 29 28 32 3

I understand my benefit plan. (X4) 42 15 19 9 15

I am satisfied with my benefit package. (X5) 58 12 11 6 13

Table 1.26: Calculation Of Weighted Average On Compensation

X1 vX1 X2 ?? X2 X3 ?? X3 X4 ?? X4 X5 ?? X5

19 95 32 160 08 40 42 210 58 290

42 168 12 48 29 116 15 60 12 48

12 36 28 84 28 84 19 57 11 33

25 50 23 46 32 64 09 18 06 12

02 02 05 05 03 03 15 15 13 13

TOTAL 351 TOTAL 343 TOTAL 307 TOTAL 360 TOTAL 396

Table 1.27: Showing The Rank Of Each Component Of Compensation

351/100 3.51 343/100 3.43 307/100 3.07 360/100 3.60 396/100 3.96

RANKED 3 RANKED 4 RANKED 5 RANKED 2 RANKED 1

INFERENCES

The above table shows that the employees are satisfied with the benefit package they are given 3.96 out of 5.the employees understand their plan is 3.60. the fair pay is ranked 3rd.the employees salary is competitive with others is ranked 4th. The salary is not comparable with salary with others which has been ranked the least, rank 5.

Table 1.28: showing Fair Pay

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

19 42 12 25 2 100

Chart 1.16: Showing Fair Pay

Interpretation:

19% to 42% of the Employees agree that they are paid fairly according to the amount of work they do. But 25% to 2% of the sample size disagrees to the statement. And 12% is neutral to it.

Table 1.29: Showing Salary Competitiveness

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

32 12 28 23 5 100

Chart 1.17: Showing Salary Competitiveness

Interpretation:

32% of the employees agrees that they get a competitive salary when compared to other organizations with same designation. 12% of them strongly agrees to it .28% of them are neutral to the statement. 23% to 5% is disagrees to the statement in the other hand.

Table 1.30: Showing Comparability Of Benefits

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

8 29 28 32 3 100

Chart 1.18: Showing Comparability Of Benefits

Interpretation:

There is balance, 29% of the employees agrees and 32 % of them strongly disagrees that they have a comparable benefits.28% of them are neutral in the other hand.

Table 1.31: Showing Understanding Of Benefit Plan

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

42 15 19 9 15 100

Chart 1.19: Showing Understanding Of Benefit Plan

Interpretation:

42% of the employees agrees that they understand their benefit plan. 15% strongly agrees ,where 19% is neutral.9% to 15% disagrees to the fact and says they don’t understand the benefit plans they are given.

Table 1.32: Showing Satisfaction With Benefit Package

STRONGLY AGREED AGREED NEUTRAL DISAGREE STRONGLY DISAGREE TOTAL

58 12 11 6 13 100

Chart 1.20: Showing Satisfaction With Benefit Package

Interpretation:

58% of them are satisfied with their benefit package. 12% strongly agrees. Whereas little sample of 6% to 13% disagrees to the statement. Or they are not happy with their benefit package.11% is neutral to it.

Summary of Findings

‘ Most of the employee’s ability state the opinion firmly and positively is better than acceptable standards.

‘ Majority of the employee’s ability in exercising the professional duties without assistance is better than acceptable standard.

‘ The Emotional Stamina of the majority of the employees is better than acceptable standard.

‘ Majority of the Employee’s Ability to work co-operatively and collaboratively to achieve common goal is better than acceptable.

‘ Majority of the employees Ability to effectively guide a group through an appropriate process to help to achieve their desired outcomes is better than acceptable standard.

‘ Majority of the employee’s ability to clarify and establish with a group roles and responsibilities, common goal and plan to achieve them and group behavioural is outstanding.

‘ Majority of the employees Ability to deal with multiple issues and details, alertness and learning capacity is better than acceptable standard.

‘ Majority of the employee’s ability to see and think beyond the obvious and formulate original solution is better than acceptable standards.

‘ Majority of the employee’s ability to present ideas, concept, plan and procedure clearly to the target group is better than acceptable standard.

‘ Concern for excellence of the majority of the employee’s is better than acceptable standard.

‘ Majority of the employee’s Aware of what is going on in the workplace and responds in a suitable manner to situations as they is better than acceptable.

‘ The understanding between the top level and employees are in good terms.

‘ Employees do understand their benefits and opportunities given by the organisation.

‘ The employees are paid fairly according to the work done.

‘ Freedom of sharing new ideas and opinions are welcomed in the organisation.

‘ The employees are able to make a balance between personnel and work life. which reduces the amount of stress in them.

‘ The organisation encourages the employee to learn from their mistakes.

‘ Recommendations

‘ In this organization employee engagement study must be regularly done in order to check the level of employee effectiveness.

‘ Since many of the employees are performing different jobs to what they were doing at the time of their joining they need training to perform the new work allotted them.

‘ Different sources of employee engagement tactics must be encouraged in employees.

‘ The top management should support the lower level employees since it is considered a major hurdle in effective employee engagement and the employees must also be made aware of importance of engagement at work system

‘ The employees should be then and there motivated for work.

‘ The understanding between management and employees should be increased.

‘ Level of stress in work should be reduced.

‘ Better benefit package should be given to the employees.

Conclusion

In the report we have discussed the importance of employee engagement in an organization and how it affects the efficiency of work and productivity. Employment counselors should help individuals to maximize their career engagement at any stage of their career. Basically employee engagement should be a buzz word for the employee engagement and a positive attitude held by the employees towards the organization. Employee engagement is gaining its importance and popularity in work places and its impact in many ways. It emphasis on the importance of employee engagement in a organization, an organization should thus give more importance for its employees than any other variable as they are the powerful contributors to a company’s competitiveness. Thus it shows that employee engagement should be a continues process for learning, improvement, measurement and action of an employee.

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The limitations of the Chit Acts assignment help sydney

1.1 BACKGROUND OF THE STUDY

The financial system assumes strategically a very important role in channelling the funds from surplus units to deficit units. The financial system here refers to the group of institutions, markets and instruments which helps in formation of capital and thus accelerates to the pace of economic development.

The base of this study stems from the fact that there exists a gap between gross capital formation and gross domestic savings in India. So, there exists the need to augment the growth rate of voluntary domestic savings. This goal can be realized by widening and strengthening the working of different financial intermediaries which will result in mobilizing savings from various income level categories. .It is in this context that the role of the Non-Banking Financial Intermediaries like Chit Finance should be appreciated in supplementing the functions of the Banking Institutions.

Chit funds are Chit funds are the Indian equivalent of the Rotating Savings and Credit Associations (ROSCA). ROSCAs are famous in many parts of the world and is seen as an instrument to ‘save and borrow’ simultaneously. ROSCAs basically started as a way to help in fulfilling the needs of the low-income households as it enables the people to convert their small savings into lump sums. The concept of chit funds originated more than 1000 years ago. Initially it was in the form of an informal association of traders and households within communities, wherein the members contributed some money in return for an accumulated sum at the end of the tenure. Participation in Chit funds was mainly for the purpose of purchasing some property or, in other words, for ‘consumption’ purposes. However, in recent times, there have been tremendous alterations in the constitution and functioning of Chit funds. A significant difference between Chit Funds and ROSCAs are that in most places ROSCAs are user-owned and organized informally, but chit funds have been formally institutionalized in India. (Chit Funds-An innovative access to finance for low income households, 2009)

1.1.1 WHAT DO WE MEAN BY CHIT FUNDS?

Chit fund is a savings-cum-borrowing instrument. The basic aim of this instrument is to pool small amount of savings by all the members which is then managed by a foreman. The foreman has the responsibility to act as a trustee-cum-supervisors for the process of collection and allotment of the pooled amount.

Chit funds represent a traditional form of saving-cum-credit institution evolved before the bank system was introduced in rural India. There are many who avail themselves of this avenue for saving for a reasonable return.

1.1 NEED AND RATIONALE OF THE STUDY

Despite the growth of a wide range of savings avenues and the widespread network of banks and other financial institutions, it has been found that Chit scheme still forms an important part in the asset portfolio of many households and firms in India and especially in South India including Karnataka. Also, the review of literature shows that there are only a few studies on Chit Finance. Therefore, the need to conduct the study stems from the requirement to understand Chit Funds in Bangalore.

1.2 NEED TO CONDUCT THE STUDY

The research titled ‘A Study on Chit Funds in Bangalore to understand the behaviour and financial needs of the chit fund members as well as to identify the important predictors of regular participation in chit funds’ The study estimates the net returns and interest rate on Chit funds. This study tries to point out the limitations of the Chit Acts and suggests feasible recommendations for improving the working of such institutions.

.3.2 STATEMENT OF THE PROBLEM

‘A Study on Chit Funds in Bangalore to understand the behaviour and financial needs of the chit fund members as well as to identify the important predictors of regular participation in chit funds’.

VARIABLES UNDER INVESTIGATION

1. Age

2. Occupation

3. Monthly income

4. Gender

5. Bank loan

6. Regular participation in chit fund

7. Membership in multiple chit schemes

8. Cause for participating in multiple schemes

9. Preferred avenue of saving

10. Preferred source of finance

11. Safety

12. Better service

13. Flexibility

14. Timely Payment

15. Low commission

16. Personal contact

17. Unregistered chit funds membership

18. Cause for participating in unregistered chit funds

19. Cause for not participating in unregistered chit fund

3.5 OBJECTIVES OF THE STUDY

3.5.1 OBJECTIVE(PRIMARY)

1. To understand the behaviour and financial needs of the chit fund members.

2. To identify the important predictors behind chit fund participation

3.5.2 OHER OBJECTIVES OF RESEARCH

1. To estimate interest rates in registered chit funds.

2. To compare the relative ratings of Chit subscribers towards registered and unregistered chit funds on

3. To estimate the return on Chit Funds.

3.6 HYPOTHESIS

There are two types of statistical hypotheses.

1. Null hypothesis

2. Alternative hypothesis.

Hypothesis 1:

H0: There is no significant relation between gender and cause for participation in chit fund.

H1: There is significant relation between gender and cause for participation in chit fund.

Hypothesis 2:

H0: There is no significant relation between occupation and cause for participation in chit fund.

H1: There is significant relation between occupation and cause for participation in chit fund.

Hypothesis 3:

H0: There is no significant relation between age and causes for participation in chit fund

H1: There is significant relation between age and cause for participation in chit fund

Hypothesis 4:

H0: There is no significant relation between monthly income and cause for participation in chit fund

H1: There is significant relation between monthly income and cause for participation in chit fund

Hypothesis 5:

H0: There is no significant relation between gender and causes for bidding in chit fund

H1: There is significant relation between gender and cause for bidding in chit fund

Hypothesis 6:

H0: There is no significant relation between occupation and cause for bidding in chit fund

H1: There is significant relation between occupation and cause for bidding in chit fund

Hypothesis 7:

H0: There is no significant relation between age and cause for bidding in chit fund

H1: There is significant relation between age and cause for bidding in chit fund

Hypothesis 8:

H0: There is no significant relation between monthly income and cause for bidding in chit fund

H1: There is significant relation between monthly income and cause for bidding in chit fund

Hypothesis 9:

H0: There is no significant relation between gender and cause for saving in chit fund

H1: There is significant relation between gender and cause for saving in chit fund

Hypothesis 10:

H0: There is no significant relation between occupation and cause for saving in chit fund.

H1: There is significant relation between occupation and cause for saving in chit fund.

Hypothesis 11:

H0: There is no significant relation between age and cause for saving in chit fund

H1: There is significant relation between age and cause for saving in chit fund

Hypothesis 12:

H0: There is no significant relation between having bank loan and membership in multiple chit schemes.

H1: There is significant relation between having bank loan and membership in multiple chit schemes.

Hypothesis 13:

H0: There is no significant relation between monthly income and participation in unregistered chit funds

H1: There is significant relation between monthly income and participation in unregistered chit funds

Hypothesis 14 :

H0: There is no significant relation between causes to prefer chit fund over bank and having bank loan.

H1: There is significant relation between causes to prefer chit fund over bank and having bank loan.

Hypothesis 15:

H0: Presence of safety, flexibility, timely payment, low commission, better service, personal contact, having a bank loan are no significant predictors of regular participation in chit fund.

H1: Presence of safety, flexibility, timely payment, low commission, better service, personal contact ,having a bank loan,are significant predictors of regular participation in chit fund.

.

3.8 SAMPLING METHOD

Members of four registered chit fund companies in Bangalore. The four registered chit fund companies were selected due to the large size of their subscriber base.

3.8.3 SIZE OF SAMPLE

150 respondents

3.9 MECHANISM OF STUDY

3.9.1 PRIMARY RESEARCH

Questions relating to behaviour and financial pattern will be found out through questionnares

3.9.2 SECONDARY RESEARCH

‘ Reports on chit fund industry

OVERVIEW OF INDIAN CHIT FUND INDUSTRY

4.1.1 NUMBER OF REGISTERED CHIT FUND COMPANIES:

According to the Ministry of Corporate Affairs, as on 31st December, 2013:

Volume of registered chit companies: 5412

Volume of chit companies in Karnataka: 703

Number of chit fund companies in Bangalore: 315

UNREGISTERED CHIT FUND INDUSTRY

Although unregistered chits are an informal source of finance but still they are a significant part of the chit fund industry. Though they are more easily accessible as compared to registered chit funds.

4.3 PURPOSE OF THE STUDY

The study titled ‘A Study on Chit Funds in Bangalore to understand the behaviour and financial needs of the chit fund members as well as to identify the important predictors of regular participation in chit funds’ attempt in The study estimates the net returns and interest rate on Chit funds. This study also examines the limitations of the Chit Acts and suggests suitable recommendations for improving the functioning of such institutions.

4.4 LIMITATION OF STUDY

‘ Unwillingness of the members to share their income and financial details made the task of data collection somewhat difficult.

‘ Collecting data became difficult since I don’t know the regional languages.

5.2 ANALYSIS OF DATA

The analysis is done on the primary data collected from 150 chit funds members in Bangalore

TESTING OF HYPOTHESES

5.4.1 Hypothesis 1:

H0: There is no significant relation between gender and cause for participation in chit fund.

H1: There is significant relation between gender and cause for participation in chit fund.

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 31.070a 16 .013

Likelihood Ratio 35.945 16 .003

Linear-by-Linear Association 8.809 1 .003

N of Valid Cases 150

a. 1 cells (10.0%) have expected count less than 5. The minimum expected count is .30.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .455 .013

Cramer’s V .228 .013

N of Valid Cases 150

a. Not assuming the null hypothesis.

b. Using the asymptotic standard error assuming the null hypothesis.

INTERPRETATION:

The value of chi-square=31.070 was p=.013, less than 0.05.

We can see that the strength of association between the variables is moderate (Phi and Cramer’s V -0.455).

Therefore, the research hypothesis that differences in ’cause to participate in chit funds’ are related to differences in ‘age” is supported by this analysis. This means that different age groups of the chit fund members have different reasons of participating in chit funds. As can be seen from the table above that those who belong to ’36-45 years’ have saving as the predominant reason to participate whereas members of other age groups do not have any dominant reason to participate.

5.4.2 Hypothesis 2:

Hypothesis 2:

H0: There is no significant relation between occupation and cause for participation in chit fund.

H1: There is significant relation between occupation and cause for participation in chit fund.

Hypothesis 3:

. Hypothesis 3:

H0: There is no significant relation between age and causes for participation in chit fund

H1: There is significant relation between age and cause for participation in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 10.018a 4 .040

Likelihood Ratio 10.478 4 .033

Linear-by-Linear Association 6.876 1 .009

N of Valid Cases 150

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .258 .040

Cramer’s V .258 .040

N of Valid Cases 150

a. Not assuming the null hypothesis.

a. Using the asymptotic standard error assuming the null hypothesis.

INTERPRETATION:

The value of chi-square=10.018 was p=.040, less than 0.05.

.We can see that the strength of association between the variables is weak (0.258)

Therefore, the research hypothesis that differences in ’cause to participate in chit funds’ are related to differences in ‘gender” is supported by this analysis. This means that males and females have different reasons of participating in chit funds. As it can be seen that males participate in chit funds for business and personal consumption purposes apart from saving whereas women predominantly participate to save.

5.4

Hypothesis 4:

H0: There is no significant relation between monthly income and cause for participation in chit fund

H1: There is significant relation between monthly income and cause for participation in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 82.176a 12 .000

Likelihood Ratio 97.665 12 .000

Linear-by-Linear Association 15.696 1 .000

N of Valid Cases 150

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .740 .000

Cramer’s V .427 .000

N of Valid Cases 150

INTERPRETATION:

We can see that the strength of association between the variables is strong (0.740)

Therefore, the research hypothesis that differences in ‘reason to participate in chit funds’ are related to differences in ‘occupation” is supported by this analysis. It can be seen that the self-employed members mainly participate to avail for business reasons whereas salaried employee participate mainly for personal consumption purposes.

Hypothesis 5:

Hypothesis 5:

H0: There is no significant relation between gender and causes for bidding in chit fund

H1: There is significant relation between gender and cause for bidding in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 66.691a 20 .000

Likelihood Ratio 43.579 20 .002

Linear-by-Linear Association 4.804 1 .028

N of Valid Cases 150

a. 1 cell (10.0%) has expected count less than 5. The minimum expected count is .07.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .667 .000

Cramer’s V .333 .000

N of Valid Cases 150

a. Not assuming the null hypothesis.

b. Using the asymptotic standard error assuming the null hypothesis.

INTERPRETATION:

The (chi-square=66.691) was p=.000, less than 0.05.

We can see that the strength of association between the variables is moderately strong (0.667)

Therefore, the research hypothesis that differences in ’cause to bid in chit funds’ are related to differences in ‘age” is supported by this analysis. It can be seen that the members of age group’36-45 years’ are more interested in bidding for business related purposes where members of other age groups bid mainly for emergency needs.

5.4.6 Hypothesis 6:

. Hypothesis 6:

H0: There is no significant relation between occupation and cause for bidding in chit fund

H1: There is significant relation between occupation and cause for bidding in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 7.167a 5 .209

Likelihood Ratio 7.885 5 .163

Linear-by-Linear Association 1.120 1 .290

N of Valid Cases 150

a. 5 cells (41.7%) have expected count less than 5. The minimum expected count is .81.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .219 .209

Cramer’s V .219 .209

N of Valid Cases 150

a. Not assuming the null hypothesis.

b. Using the asymptotic standard error assuming the null hypothesis.

INTERPRETATION:

The probability of the chi-square test statistic (chi-square=7.167) was p=.209, more than the alpha level of significance of 0.05.

Therefore, the research hypothesis that differences in ‘reason to bid in chit funds’ are related to differences in ‘gender” is not supported by this analysis.

5.4.7 Hypothesis 7:

Hypothesis 7:

H0: There is no significant relation between age and cause for bidding in chit fund

H1: There is significant relation between age and cause for bidding in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 180.915a 15 .000

Likelihood Ratio 160.460 15 .000

Linear-by-Linear Association 28.379 1 .000

N of Valid Cases 150

a. 1 cell (10.0%) has expected count less than 5. The minimum expected count is .13.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi 1.098 .000

Cramer’s V .634 .000

N of Valid Cases 150

INTERPRETATION:

The (chi-square=180.915) was p=.000, less than 0.05.

We can see that the strength of association between the variables is extremely strong (1.098)

Therefore, the research hypothesis that differences in’ are related to differences in ‘occupation” is supported by this analysis. It can be clearly seen that self-employed people bid in chit scheme mostly for business purposes, salaried people for emergency needs and housewives for household purposes.

5.4.8 Hypothesis 8:

Hypothesis 8:

H0: There is no significant relation between monthly income and cause for bidding in chit fund

H1: There is significant relation between monthly income and cause for bidding in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 123.331a 35 .000

Likelihood Ratio 106.298 35 .000

Linear-by-Linear Association 4.957 1 .026

N of Valid Cases 150

INTERPRETATION:

The probability of the chi-square test statistic (chi-square=123.331) was p=.000, less than the alpha level of significance of 0.05.

We can see that the strength of association between the variables is extremely strong (.907)

Therefore, the research hypothesis that differences in ‘reason to bid in chit funds’ are related to differences in ‘income” is supported by this analysis. It can be clearly seen that low income members bid mostly for consumption reasons whereas higher income members bid for business related and emergency purposes.

SUMMARY:

Reason to bid in chit fund has the strongest association with the occupation of the chit fund members as the probability of the chi-square test statistic (chi-square=180.915) was p=.000 and the strength of association between the variables is extremely strong (1.098).

5.4.

Hypothesis 9:

H0: There is no significant relation between gender and cause for saving in chit fund

H1: There is significant relation between gender and cause for saving in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 21.702a 16 .153

Likelihood Ratio 23.775 16 .095

Linear-by-Linear Association 2.397 1 .122

N of Valid Cases 150

INTERPRETATION:

The chi-square=123.331) was p=.153, more than 0.05. Therefore, the research hypothesis that differences in ’cause to save in chit funds’ are related to differences in ‘age” is not supported by this analysis.

5.4.10 Hypothesis 10:

H0: There is no significant relation between occupation and cause for saving in chit fund.

H1: There is significant relation between occupation and cause for saving in chit fund.

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 20.510a 4 .000

Likelihood Ratio 29.038 4 .000

Linear-by-Linear Association 7.062 1 .008

N of Valid Cases 150

a. 1 cell (10.0%) has expected count less than 5. The minimum expected count is .81.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .370 .000

Cramer’s V .370 .000

N of Valid Cases 150

a. Not assuming the null hypothesis.

b. Using the asymptotic standard error assuming the null hypothesis.

INTERPRETATION:

The chi-square=20.510) was p=.000, less than 0.05.

We can see that the strength of association between the variables is weak (.370).Therefore, the research hypothesis that differences in ’cause to save in chit funds’ are related to differences in ‘gender” is supported by this analysis.

5.4.11 Hypothesis 11:

Hypothesis 11:

H0: There is no significant relation between age and cause for saving in chit fund

H1: There is significant relation between age and cause for saving in chit fund

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 67.261a 12 .000

Likelihood Ratio 60.380 12 .000

Linear-by-Linear Association 9.507 1 .002

N of Valid Cases 150

a. 1 cell (10.0%) has expected count less than 5. The minimum expected count is .13.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .670 .000

Cramer’s V .387 .000

N of Valid Cases 150

INTERPRETATION:

The chi-square=67.261 was p=.000, less than 0.05.

We can see that the strength of association between the variables is moderately strong(.670).Therefore, the research hypothesis that differences in ‘reason to cause in chit funds’ are related to differences in ‘occupation” is supported by this analysis. Salaried people save their money in chit fund with no particular purpose. But self-employed people are equally interested in saving for house purchase as well as for general purpose.

SUMMARY:

chit fund is most closely associated with occupation of the chit fund members as it has the highest value of chi-square statistic and Phi coefficient.

5.4.12 Hypothesis 12:

Hypothesis 12:

H0: There is no significant relation between having bank loan and membership in multiple chit schemes.

H1: There is significant relation between having bank loan and membership in multiple chit schemes.

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 56.697a 3 .000

Likelihood Ratio 67.900 3 .000

Linear-by-Linear Association 36.400 1 .000

N of Valid Cases 150

INTERPRETATION:

The probability of the chi-square test statistic (chi-square=56.697) was p=.000, less than the alpha level of significance of 0.05.

We can see that the strength of association between the variables is strong (.615).

Therefore, the research hypothesis that differences in ‘membership in multiple chit schemes are related to differences in ‘having currently bank loan” is supported by this analysis. It is clearly evident that those members currently having bank loan have invested in only one chit scheme whereas those members who do not have availed bank loan have invested in more than one chit schemes.

5.4.13 Hypothesis 13:

Hypothesis 13:

H0: There is no significant relation between monthly income and participation in unregistered chit funds

H1: There is significant relation between monthly income and participation in unregistered chit funds

.

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 96.660a 7 .000

Likelihood Ratio 85.378 7 .000

Linear-by-Linear Association 59.577 1 .000

N of Valid Cases 150

a. 1 cell(10.0%) has expected count less than 5. The minimum expected count is 1.08.

INTERPRETATION:

The chi-square=96.660 was p=.000, less than 0.05.

We can see that the strength of association between the variables is extremely strong (.803).

Therefore, the research hypothesis that differences in ‘participation in unregistered chit funds’ are related to differences in ‘income” is supported by this analysis. It is clearly evident that mostly low- income members have participated in unregistered funds. This is because the registered funds have become expensive due to the increase in their operational cost as a result of stringent regulations.

5.2.14 Hypothesis 14 :

H0: There is no significant relation between causes to prefer chit fund over bank and having bank loan.

H1: There is significant relation between causes to prefer chit fund over bank and having bank loan

Chi-Square Tests

Value df Asymp. Sig. (2-sided)

Pearson Chi-Square 28.049a 5 .000

Likelihood Ratio 31.806 5 .000

Linear-by-Linear Association 2.967 1 .085

N of Valid Cases 150

a. 2 cells (15.0%) have expected count less than 5. The minimum expected count is 1.79.

Symmetric Measures

Value Approx. Sig.

Nominal by Nominal Phi .432 .000

Cramer’s V .432 .000

N of Valid Cases 150

INTERPRETATION:

The probability of the chi-square test statistic (chi-square=28.049) was p=.000, less than the alpha level of significance of 0.05.

We can see that the strength of association between the variables is moderate (.432).

Therefore, the research hypothesis that differences in ’cause to prefer chit fund over bank’ are related to differences in ‘having bank loan” is supported by this analysis. It is clearly evident that members who have bank loan have preferred chit fund over bank mainly due to better dividends. But those who do not have bank loan prefer chit fund over bank mainly due to better service in terms of more personalized service.)

5.2..15 Hypothesis 15: To identify significant predictors of regular participation in chit funds using Binary Logistic Regression

Hypothesis 15:

H0: Presence of safety, flexibility, timely payment, low commission, better service, personal contact, having a bank loan are no significant predictors of regular participation in chit fund.

H1: Presence of safety, flexibility, timely payment, low commission, better service, personal contact ,having a bank loan,are significant predictors of regular participation in chit fund.

Variables in the Equation

B S.E. Wald df Sig. Exp(B)

Step 0 Constant -1.046 .186 31.574 1 .000 .351

Model Summary

Step -2 Log likelihood Cox & Snell R Square Nagelkerke R Square

1 37.170a .533 .576

a. Estimation terminated at iteration number 6 because parameter estimates changed by less than .001.

Variables in the Equation

B S.E. Wald df Sig. Exp(B)

Step 1a bank_loan(1) 1.068 1.265 14.715 1 .000 11.720

reason_2 2.286 4 .683

reason_2(1) 1.336 1.077 1.540 1 .215 3.805

reason_2(2) .134 2.239 .004 1 .952 1.143

reason_2(3) -.559 1.896 .087 1 .768 .572

reason_2(4) .731 1.347 .294 1 .588 2.076

reason_3 4.874 5 .431

reason_3(1) 1.188 .924 1.652 1 .199 3.279

reason_3(2) 1.661 2.048 .658 1 .417 5.263

reason_3(3) -1.654 1.228 1.813 1 .178 .191

reason_3(4) .404 1.192 .115 1 .735 1.497

reason_3(5) -17.379 20.722 .000 1 .700 .000

reason_4 .355 4 .986

reason_4(1) -1.047 1.850 .320 1 .571 .351

reason_4(2) -.839 1.979 .180 1 .672 .432

reason_4(3) -.932 1.637 .324 1 .569 .394

reason_4(4) 3.519 4.199 .000 1 .600 3.746

reason_5 8.553 5 .128

reason_5(1) -.254 1.768 .021 1 .886 .776

reason_5(2) -19.245 9.890 .000 1 .999 .000

reason_5(3) 1.420 1.338 1.126 1 .289 4.136

reason_5(4) -.747 1.306 .327 1 .567 .474

reason_5(5) .561 1.342 .174 1 .676 1.752

B S.E. Wald df Sig. Exp(B)

Step 1a Safety -.075 .320 4.377 1 .011 0.928

Flexi -.178 .426 3.337 1 .021 0.837

commision -.185 .188 1.868 1 .026 0.831

payment -.267 .178 1.657 1 .097 0.766

service -.859 .412 1.348 1 .083 0.424

personal -1.122 .163 .996 1 .079 0.329

Constant 3.058 2.440 1.571 1 .010 21.291

a. Variable(s) entered on step 1: : bank_loan, reason_2, reason_3, reason_4, reason_5.imp1, imp2, imp3, imp4, imp5, imp6.

INTERPRETATION:

‘ -2 Log Likelihood statistic is 37.170. This statistic how poorly the model predicts the decisions — the smaller the statistic the better the model. Since, 37.170 is a relatively small number therefore, this model is able to predict the decisions in a better way.

‘ Here Cox & Snell R Square statistic indicates that 53.3% of the variation in the regular participation in chit funds is explained by the logistic model.

‘ In our case Nagelkerke R Square is 0.576, indicating a moderate relationship of 57.6 % between the predictors and the prediction.

‘ If it is less than .05 then, we will reject the null hypothesis and accept the alternative hypothesis.

‘ In this case, we can see that bank loan, safety, flexibility and low commission have contributed signi’cantly to the prediction of regular participation in chit funds but other variables are not significant predictors of regular participation in chit funds.

‘ Since only bank loan has p=.000, therefore we can say that bank loan is the most significant predictor

among other significant predictors. This is followed by safety (p=.011), flexibility (p=.021) and low commission (p=.026).

‘ Here, the EXP (B) bank loan is 11.727. Hence when bank loan is availed by one unit (one person) the odds ratio is 11 times as large and therefore people are 11 more times likely not to regularly participate in chit funds.

‘ Here, the EXP (B) with safety is .928. Hence when safety is increased by one percent the odds ratio is .928 times as large and therefore people are .928 more times likely to regularly participate in chit funds.

‘ Here, the EXP (B) flexibility is 837. Hence when flexibility is increased by one percent the odds ratio is .928 times as large and therefore people are .837 more times likely to regularly participate in chit funds.

‘ Here, the EXP (B) low commission is .831. Hence when flexibility is increased by one percent the odds ratio is .928 times as large and therefore people are .831 more times likely to regularly participate in chit funds.

SUMMARY

Bank loan is the most significant predictor of regular participation in chit funds. This is followed by safety, flexibility and low commission.

Instalment no No of months remaining Monthly subscription Prize amount PV of monthly subscription(PV of outlow at 10%) PV of Prize amount(PV of inflow at 10%) Net Present Value(PV of inflow – PV of outflow)

1 24 2000 50000 2000 50000 10444.9

2 23 1500 35000 1488.1 34723.1 -4832.0

3 22 1500 35000 1476.4 34448.4 -5106.7

4 21 1500 35000 1464.7 34175.9 -5379.2

5 20 1500 35000 1453.1 33905.5 -5649.6

6 19 1500 35000 1441.6 33637.3 -5917.8

7 18 1500 35000 1430.2 33371.2 -6183.9

8 17 1500 35000 1418.9 33107.2 -6447.9

9 16 1620 38000 1520.3 35660.6 -3894.5

10 15 1620 38000 1508.2 35378.5 -4176.6

11 14 1700 40000 1570.2 36945.9 -2609.2

12 13 1700 40000 1557.8 36653.6 -2901.5

13 12 1780 42000 1618.2 38181.8 -1373.3

14 11 1780 42000 1605.4 37879.8 -1675.3

15 10 1780 42000 1592.7 37580.1 -1975.0

16 9 1860 44000 1651.1 39058.2 -496.9

17 8 1860 44000 1638.0 38749.2 -805.9

18 7 1860 44000 1625.1 38442.6 -1112.5

19 6 1940 46000 1681.6 39872.1 317.0

20 5 1940 46000 1668.3 39556.6 1.5

21 4 1940 46000 1655.1 39243.7 -311.4

22 3 1940 46000 1642.0 38933.2 -621.8

23 2 1940 46000 1629.0 38625.2 -929.8

24 1 1940 46000 1616.1 38319.7 -1235.4

25 0 1940 46000 1603.3 38016.5 -1538.6

39555.1 934465.9 -54411.4

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Merit goods history essay help

Merit goods are goods which will be under-provided by the market, therefore they will be under-consumed. They are thought by the governments to be good for the populations and so the governments want them to be consumed to a great extent. They increase the private and social benefits and cause the social benefit be higher than the private one. The best examples of them, apart from all the public goods, can be the education, health care, sports facilities and the opera.

Although the majority of the merit goods is provided by the private sectors, not all the people can afford buying them, therefore they will be under-consumed. That is why the government is needed to destroy the market failure increasing the supply and consequently raising the consumption.

To explain the reasons for government to provide the merit goods, I need to apply some examples of them. The first one can be the education. It is significant for the governments to provide it so that the society would be well-educated. Governments determine the period of education required for people (the compulsory education) to maintain the proper level of education of the society. The governments find education an important aspect that should be available for everyone as it cause the whole country to have better both economic growth and economic development.

Considering another example such as health care, the situation is quite similar. The governments want to provide the population with it because they care about the high states of health of society in their country. To gain these, the countries need to have high quality of health care. Governments often offer people unpaid programs consisting of preventative medical examination which contribute to maintain the high number of healthy people. This is also connected with the problems of the labour market. The healthier people are, the more efficient their work is, the greater revenue firms have and countries are more developed because of taxations.

Other examples like sport facilities or the opera are meant for people to become physically and culturally developed but their availability is not as important as in the case of the previous examples. That is why they are not as much provided by the governments as the rest of the merit goods.

Although most of the merit goods provided by the governments are free, the fact is that they are paid through the taxes that the societies pay. The number of the merit goods of particular types that the governments provide or subsidize depends on the necessity of them. If they are provided, the societies’ benefits get higher and so is the public treasury of the countries.

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Research proposal: The effect of pregnancy on the adolescent pregnant teen & father need essay help

Abstract: The purpose for this research paper is to address the adolescent pregnant teen & father and the effects a pregnancy has on both of their lives during and after her pregnancy. How the teens need the support of the family, community, church, and the school system. I will also address the teen father mostly disregarded in any aspect of the teen’s pregnancy and how this affects him, and how both teens need support in our society. How we can address the social problem of teen pregnancy from all avenues.

‘Three issues that have an impact on the pregnant adolescent are discussed education, identity development, and maternal support’ (Turnage & Pharris, 2013). My research focuses on adolescent pregnant teen women 19 years old and younger. It will also reflect the problems of the teen pregnant adolescents journeying thru the process of becoming a teen mother, finishing high school, developing her own identity and the maternal support she gets from her mother during her transition from pregnant teen to motherhood.

‘Several issues that differently influence the pregnant teen is individually based on the female’s chronological age’ (Turnage & Pharris, 2013). ‘For the pregnant adolescent, her pregnancy supersedes high school graduation as the benchmark for her being viewed as an adult’ (Turnage & Pharris, 2013). ‘Failure to graduate high school is associated with poor social and educational outcomes for teen mothers and their children’ (Turnage & Pharris, 2013).

‘While the pregnant adolescent is defining who she is as a person she experiences a transition to the new identity of mother’ (Turnage & Pharris, 2013). ‘During her pregnancy the adolescent’s mother is seen as the primary source of support that contributes to a positive self-image and can assist her in the adapting to the role of parent’ (Turnage & Pharris, 2013).

My research paper will also show how important it is to support the teen during and after pregnancy. It addresses the need for the teen mothers to finish high school, and find her identity. How important it is to have the support system of her mother and family to achieve all of these things. Without these support systems, the pregnant adolescent could end up in poverty, no social skills, homeless and a host of other social problems for her and her baby.

Addressed and examined is teen motherhood and its long-term mental and physical health of the teen mother’ (Patel & Sen, 2012). They used a (PCS) health survey known as SF-12 NLSY79 a study that compared two major comparisons groups of which only teens who experienced teen pregnancy and girls who did not experience teen pregnancy. On average the survey for teen mothers was on average 50.89.

The study to access the health outcome of ‘two major comparison groups, which consisted of women who were only experienced teen pregnancy & women who were having unprotected sexual relation as a teen but did not become pregnant ‘ (Patel & Sen, 2012). Estimated is that teen mothers are more likely to have poor health later in life in the study of all the comparison groups.

Along with support, they desperately need help taking care of an infant as a teen; they need a support system to take notice of how they are managing their health & well-being so that they can be a successful teen parent. In addition, being a teen parent can affect the mother’s mentally as the pressure of being new teen mom can be stressful.

The teen mothers who marry after they give birth to their children statistics state that 30 % of them will not remain in their marriages into their 40’s. This result comes from teen adolescents in a single parent home raising their child. This can put a strain on the teen adolescent because she will financially have to seek support from her family or enter into the welfare system and suffer mental health issues.

‘Adolescent teen mothers identify social support with, parenting and emotional support primary emanating from family members, particularly their own mothers, as well as from the father of the baby (Savio Beers & Lee, 2009)’. ‘Older sisters may play an important role in the support network for adolescent mothers, the supportive sister relationships decrease depressive and anxiety-related symptoms in adolescent mothers (Savio Beers & Lee, 2009).

‘For some adolescent parents, participation in a religious community programs may provide the significant social support and serve as a protective factor’ (Savio Beers & Lee, 2009). This directly stresses the point that without the support of family, community, and church with the support of the father the adolescent teen mother can suffer mental issues, poverty issues, and marriage problems.

We addressed the many issues that teen mothers have to face, so now I would like to address the teen father in our society. What are their concerns on becoming a teen father, and how do they view their role as father where their masculinity is concerned? While most of the research done on teen pregnancy and parenting mainly focusing on the mother, the father is invisible.

Interviewed were 26 young teen fathers in the mid-western American towns. The in depth survey of three themes of gender discord focused on teen father narratives, which took on responsibility, sex, being a man, this is the direct viewpoint of the invisible teen father. What they feel about getting a teen girl pregnant and what responsibility they take in the pregnancy if any. How they relate to getting a teen pregnant and how that affects his identity as a man and their masculinity.

‘Gendered assumptions regarding pregnancy and contraception’specifically that women are in charge of preventing pregnancy and they have the belief that male sexuality is uncontrollable; and that use of love and intimacy talk (Weber, J. B., 2013). The teen fathers that took the questionnaire did not blame themselves for getting the teen girl pregnant. They see the teen’s pregnancy as her problem.

Studies suggest that teen fathers are more likely to be of a minority race. He has a mother who had a baby as a teen; his parents have a minimal education. His parents do not have high expectations of him finishing school; all of these factors result in the likelihood that makes him a candidate to becoming a teenage father. ‘The research states that the teen fathers go to school fewer years less than non-teenage fathers (Fletcher & Wolfe, 2011).

‘Evidence shows that men who have children before marriage leave school earlier and have worse labor markets outcomes’ (Fletcher & Wolfe, 2011). ‘Data was used only on young men who reported a pregnancy as an adolescent’ (Fletcher & Wolfe, 2011). It affects his completion of high school.

It also affects his ability to take care of the teen mother & baby, which causes him to drop out of school early. Statistically, ‘teen fathers work more hours and earn more money following the birth of a child then his non-parent counterparts’ (Fletcher & Wolfe, 2011). Teen fatherhood results in the teen father getting married early or co-habitation with the teen mother.

In conclusion, teen pregnancy is a social problem in the United States both teens will have to suffer in their education, grow up before their time, take on adult responsibilities, and suffer financial problems to take care of the child. Which ultimately falls on the parents of the teens, society or the welfare system in which the teen mother becomes a social statistic or shall I say a number.

Teen pregnancy as of 2014 have been on the decline in the United States and increased in other states, however a positive support system for both teens is minimal at best. Socially as communities, churches and government we have to take an active role in education of abstaining from sex, talking to the teens about sex, and protecting themselves against pregnancy.

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Reconnaissance attacks in IPv6 networks essay help us

2.1.1 Reconnaissance attacks in IPv6 networks

The 1st larger attack in IPv6 is usually a reconnaissance attack. An attacker try reconnaissance attacks to get some confidential information about the victim network that can be misused by the attacker in further attacks. For this he uses active methods, such as scanning techniques or data mining strategies. To start, an intruder begins to ping the victim network to determine the IP addresses currently used in the victim network. After getting some of the accessible system, he starts to scan the port to find out any open port in the desired system. The size of subnet is bigger than that of the in IPv4 networks. To perform a scan for the whole subnet an attacker should make 264 probes and that???s impossible. With this fact, IPv6 networks are much more resistant to reconnaissance attacks than IPv4 networks. Unfortunately, there are some addresses which are multicast address in IPv6 networks that help an intruder to identify and attack some resources in the target network.

2.1.2 Security threats related to IPv6 routing headers

As per IPv6 protocol specification, all of the IPv6 nodes must be able to process routing headers. In fact, routing headers can be used to avoid access controls based on destination addresses. Such action can cause security effects. It may be happen that an attacker sends a packet to a publicly accessible address with a routing header containing a ???forbidden??? address on the victim network. In such matter the publicly accessible host will forward the packet to the destination address stated in the routing header even though that destination is already filtered before as a forbidden address. By spoofing packet source addresses an intruder can easily perform denial of service attack with use of any publicly accessible host for redirecting attack packets.

2.1.3 Fragmentation related security threats

As per IPv6 protocol specification, packet fragmentation by the intermediate nodes is not permitted. Since in IPv6 network based on ICMPv6 messages, the usage of the path MTU discovery method is a duty, packet fragmentation is only allowed at the source node.1280 octets is the minimal size of the MTU for IPv6 network. The packets with size less than 1280 octets to be discarded unless it???s the last packet in the flow as per security reasons. With use of fragmentation, an attacker can get that port numbers not found in the first fragment and thus they bypass security monitoring devices expecting to find transport layer protocol data in the very first fragment. An attacker will send a huge amount of small fragments and create an overload of reconstruction buffers on the victim system which resulted to the system crash. To prevent system from such attacks it???s necessary to bound the total number of fragments and their permissible arrival rate.

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WMBA 6000-13 Topic: Course Evaluation english essay help

WMBA 6000-13

Topic: Course Evaluation

Date: March 2, 2014

Based on the assigned readings for this course (Dynamic Leadership), I have read an enormous amount of information about the different categories of leaders and leadership styles. Today’s leaders are different from the leaders of twenty to fifty years ago. In the past leaders gave commands and they controlled the actions of others. Today leaders are willing to involve others in their decision making and they are more open to new possibilities.

A good leader has a vision for their organization and they know how to align and engage employees in order to promote collaboration. The successful leader knows how to lead by using superior values, principles and goals that fit the organization’s values, principles and goals. Also these leaders know that leadership is not made from authority, it’s made from trust and followership. Coleman, J., Gulati, & Segovia, W.O. (2012)

I am impressed most by the characteristics of the authentic leader because they know how to develop themselves; they use formal and informal support networks to get honest feedback in order to drive long-term results. Authentic leaders build support teams to help them stay on course and counsel them in times of uncertainty. George, B., Sims, P., Mclean, A.N. & Mayer D. (2007)

In addition, I found the Leadership Code to be important because it provides structure and guidance and helps one to be a better leader by not emphasizing one element of leadership over another. Some focus on the importance of vision for the future; others on executing in the present; others on personal charisma and character; others on engaging people’; and others on building long-term organization. The code represents about 60 to 70 percent of what makes an effective leader. Ulrich, D., Smallwood, N., Sweetman, K. (2008)

The information that I acquired from this course will help me to pursue the goal of owning a beauty supply business. Another goal that I can add to my action plan is to include not only wigs and welted hair, but I will add hair, skin and nail products to my inventory. A future goal will be to add handbags and accessories as well.

After completing my short-term goal of finishing my MBA, I can take the knowledge from this course along with my values, ethics and principles to help me to manage employees and operate a successful business. Annie Smith (March 2, 20

Coleman, J. G. (2012). Educating young leaders. Passion and Purpose , 197-202.

George, B. S. (2007). Discovering your authentic leadership. Harvard Business Review , 129-138.

Lyons, R. (2012). Dean of Haas of School of Business University of California, Berkely. It’s made from followership. (J. G. Cole, Interviewer) Coleman, J., Gulati, D., & Segovia, W.O.

Ulrich, D. S. (2008). Five rules of leadership. In The leadership code five rules to lead by. Defining Leadership Code , 1-24.

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Family presence during CPR (cardiopulmonary resuscitation) homework essay help

In a pre-hospital setting, there are few moments that are as intense as the events that take place when trying to save a life. Family presence during these resuscitation efforts has become an important and controversial issue in health care settings. Family presence during cardiopulmonary resuscitation (CPR) is a relatively new issue in healthcare. Before the advent of modern medicine, family members were often present at the deathbed of their loved ones. A dying person’s last moments were most often controlled by his or her family in the home rather than by medical personnel (Trueman, History of Medicine). Today, families are demanding permission to witness resuscitation events. Members of the emergency medical services are split on this issue, noting benefits but also potentially negative consequences to family presence during resuscitation efforts.

A new study has found that family members who observed resuscitation efforts were significantly less likely to experience symptoms of post-traumatic stress, anxiety and depression than family members that did not. The results, published in an online article in The New England Journal of Medicine, entitled ‘Family Presence during Cardiopulmonary Resuscitation,’ were the same regardless of the survival of the patient. The study involved 570 people in France whose family members were treated by emergency medical personnel at home. These EMS teams were unique in that they were comprised of a physician, a nurse trained in emergency medicine, and two emergency medical technicians. The study found that the presence of relatives did not affect the results of CPR, nor did it increase the stress levels of the emergency medical teams. Having family present also did not result in any legal claims after the incidents occured. While the unique limitations of the study warrant consideration, the results show a definite benefit in having families stay during CPR (Jabre Family Presence).

Historically, although parents of children have been allowed to be present for various reasons, relatives of adult patients have not. As medical practices change to increasingly involve family in the care of patients, growing numbers of emergency medical practitioners say that giving relatives the option of watching CPR can be a good idea. Several national organizations, including The American Heart Association, have revised their policies to call for giving family members the option of being present during CPR (AHA Guidelines for CPR). Witnessing CPR, say some emergency medical experts and family members, can take the mystery out of what could be a potentially terrifying experience. It can provide reassurance to family members that everything is being done to save their loved ones. It also can offer closure for relatives wanting to be with their family members until the last minute (Kirkland Lasting Benefit). Another benefit is that it shows people why reviving someone in cardiac arrest is much less likely than people assume from watching it being done on television (Ledermann Family Presence During). Family members who can truly understand what it means to ‘do everything possible’ can go on to make more informed decisions about end-of-life care for themselves or their families.

There are three perspectives on this issue- that of the emergency medical personnel providing care, the family, and the patients. The resistance on the part of the medical community to family presence during CPR stems from several different concerns. The most common concern among these is that family members, when faced with overwhelming fear, stress and grief, could disrupt or delay active CPR. Another concern raised by emergency medical personnel is that the realities of CPR may simply be too traumatic for loved ones, causing them to suffer more than they potentially would have if they had never witnessed the event. Some families share this view, citing the potential for extreme distress as a main reason for not wanting to witness resuscitation (Grice Study examining attitudes). Many emergency medical personnel also fear an increased risk of liability and litigation with family members present in the room (Fullbrook the Presence of Family). The worry is that errors can occur, inappropriate comments may be made, and the actions of the personnel involved may be misinterpreted. In an already tense situation, the awareness of the family could increase the anxiety of the personnel and create a greater potential for mistakes.

Another complication that arises from having families present during resuscitation attempts is that of patient confidentiality. The patient’s right to privacy should not be circumvented with implied consent. There is always the possibility that medical information previously unknown to the family may be revealed in the chaos of resuscitation. In addition, patient dignity, whether physical or otherwise, may become compromised (Fullbrook the Presence of Family). Beyond moral considerations, legal concerns regarding revealing patient information are real. This could become an even larger issue if there is no one available to screen witnesses, which could result in unrelated people gaining access to personal information. Eventually, a breach in confidentiality can lead to a breach in the confidence that the public has gained in pre-hospital emergency care.

Family presence during CPR in a pre-hospital setting remains a highly debatable topic. This could be largely due to the fact that the needs of the emergency medical providers and the rights of the patients can be at odds with the wishes of the family members. Although there are several possible reasons why family presence is not being welcomed into daily practice, one of the major reasons could be the lack of formal written policies that define the roles of families and providers placed into this situation. Bringing family members into a situation where CPR is being performed on a loved one should not happen haphazardly. It should happen with careful concern and support for everyone involved. Policies and protocols, defined by experienced personnel, can provide legal and emotional support. They can also potentially help ease anxiety by defining expectations and placing responsibility in the hands of people who are experienced enough to know how to handle the situation appropriately. The policies and protocols should address the basic needs of all people involved. Five basic needs should be addressed:

1. The number of people allowed to be present

2. Which relatives should be allowed to be present (age, relationship, etc.)

3. The role of the family members present and what is expected of them.

4. The place where the family should remain during the duration of CPR.

5. The formal wishes of the patient- written as a directive like a living will.

An important component of this is available, trained staff that can prepare the family members for what they will witness, support them through the event, and then direct them after the event’s conclusion.

The American Heart Association states that the goals of cardiopulmonary resuscitation are, ‘to preserve life, restore health, relieve suffering, limit disability, and respect the individual’s decisions rights and privacy’ (AHA Guidelines for CPR). The practice of offering family members the opportunity to be present during CPR is a controversial ethical issue in emergency medical services. While the results of the study published on this topic in The New England Journal of Medicine clearly show no negative side effects from having families present during resuscitation attempts, the limitations of the study lend to the need for more research before it could be universally accepted.

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Respondeat Superior best college essay help

Legal claims that derive from a situation where there are claims of negligence can sometimes involve an entity other than the neglectful parties. In certain circumstances employers are fully responsible for their employees, and the tasks they perform during working hours. During the course of this paper, the doctrine of respondeat superior will be defined and explained. Two case studies in which the doctrine was applied will also be analyzed to determine if it was applied correctly.

Respondeat superior is a legal theory that holds employers responsible for any negligent or harmful act performed by an employee during the commission of their employment duties (Thornton, 2010). The Maryland Supreme Court in 1951 was the first court to utilize respondeat superior in a court case involving a question of employer liability (Burns, 2011). This doctrine is important as it holds employers liable in court cases where one of its employees does harm to an individual. Vicarious liability and indirect liability are two base concepts that make-up respondeat superior (Thornton, 2010). Respondeat superior shows that the employer did not have to be responsible for the employee???s negligent behavior, in the form of improper training or instruction to perform harmful acts, in order for the employer to be held legally responsible.

In the case of Valle v. City of Houston, the police force was sued for excessive force and an illegal search in an attempt to remove an individual from his parent???s home (Nicholl & Kelly, 2012). The situation stemmed from a man, Omar Esparza, barricading himself in his parent???s home and refusing to come out (p. 285). After a long police standoff, the SWAT team was ordered to forcefully enter the home and remove Mr. Esparza (p. 285). The SWAT team utilized taser gun and bean bag ammunition in an attempt to subdue Mr. Esparza after they felt he posed a physical threat by wielding a hammer, but as those attempts failed the suspect was fatally wounded when an officer fired his weapon (p. 286). Shortly after the incident the mother was allowed into the home, and she reported no visible evidence that her son was possession of a hammer (p. 286). The court found that the city was not liable for damages under the theory of respondeat superior, because the order to remove the individual from the home was not made by an individual deemed as a decision-maker by the city (p. 286).

From the outside, this case seems to fit the theory of respondeat superior. As the employer, the city should be held responsible for the actions of its employees. The police, serving as the city???s employees acted in a manner that was unnecessary for the situation and in conflict of their training (p. 286). However, the court sided with the City of Houston because the chain of command was not followed in regards to the use of force (p. 286). The end result is a case where an individual made a decision that was not his to make; that ultimately cost a man his life.

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