Conceiving and Measuring Managers Performance

Conceiving and Measuring Managers Performance Introduction The success of every organization depends upon its management. The management incorporates the managing director who in most cases is referred to as the Chief Executive Officer (CEO) and the other middle level managers who are the heads of various organizational departments.Advertising We will write a custom critical writing sample on Conceiving and Measuring Managers Performance specifically for you for only $16.05 $11/page Learn More The CEO alone cannot adequately enhance the management of an organization and so the other management staff is equally important in critical decision-making. Successful implementation of company’s various strategies requires total commitment and cooperation on the part of the management of the organization. Almost all organizations have stakeholders who have stakes either directly or indirectly in the organization (Goddard Broad, 2010, p. 64). The manner in which an organization is run will attract varying attitudes from the stakeholders or any other external bodies that may be having direct link to the company. These attitudes will be based on how the managers are running the organizations. It is important to assess managers’ performance t o ascertain how the set goals and objectives are being or likely to be achieved. This will call for an appropriate action against those managers who are not performing accordingly and a different direction can be sought. The following report will try to analyze how the managers’ performance can be measured and the complications involved in the entire process. Performance Management Indicators and Systems There is no reason to retain a manager who cannot deliver. The managers’ goals should be in line with organizations’ functional goals and objectives. Managers must always be achievers and they should focus on getting the organization to the highest possible level. That is why poor performing managers are usually retrenc hed or have their contracts terminated because of non-performance. The overall performance of an organization is the summation of all the individual sections’ performance in that organization. This calls for the people of high integrity, excellent credentials in their fields of management and well devoted to their work in order to achieve organizational goals. This calls for proper performance management in an organization.Advertising Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Performance management is a tool for evaluating how the company has successfully achieved its goals and objectives and to what extend it has achieved them. This will direct the relevant authority to take the most appropriate corrective measures in time. Groove, Joby Fisk (2006, p. 252) maintained that performance management can be applied based on performance management systems. These systems ca n be used in line with specific consideration of behaviors (the manner in which work is completed) or results (the outcomes realized) or both aspects are used. Management by objectives is part of a performance management system based on measuring the outcomes. Performance management systems can also be based on processes rather than results. These are competencies, intelligence, skills-based or professionalism (Goddard Broad, 2010, p.67). Whichever the approach is adopted, it should give the best evaluation to determine the organization’s position and future potential prospects. Performance management is a perpetual process of managing businesses. An appropriate assessment tool should be used to detect and assess how the managers are propelling the business. Proper monitoring of the performance of employees can yield substantial benefits to the organization. There are factors that can be used to tell whether an organization is under good management. These include customer sa tisfaction, employee retention and profitability of the organization. A well-managed organization will satisfy the customers or clients through meeting their demand and offering high quality services. Employees too are interested in remaining in an organization where their efforts are being appreciated and this can be achieved through ensuring proper communication channels are maintained, proper delegation of duties, specialization and division of labor and motivating them by showing appreciation to them for example promoting them when they deserve it. A company or an organization that fulfils these factors gives a clear indication that the performance of managers is going well.Advertising We will write a custom critical writing sample on Conceiving and Measuring Managers Performance specifically for you for only $16.05 $11/page Learn More The relationship between the employees of an organization and the top management is another critical issue that should be given a priority in measuring the performance management. The managers ought to give feedback to the employees on a regular basis concerning the ongoing of the organization. This is important information since it makes employees aware of how far the organization has gone in achieving the set goals and objectives and how development plans are faring. This information also identifies areas that need to be improved. The employees are able to adjust their efforts based on the feedback they get from their managers. The management team of the organization determines this relationship in most cases. There are some managers who do not give their employees freedom to express themselves or do not involve them in any decision making process of the organization. Such managers are harsh and portray dictatorial style of leadership and they expect things to be done as they direct regardless of whether they are wrong or right. The ultimate outcome in such organizations is poor relationship betwe en the management and the sub-ordinate staff and the employees perform their duties not because of respect but because fear has been instilled in them. Such managers are poor performers and can drive the organization into a bankruptcy position especially if it is a financial entity. Performance Management Process Aguins (2009, p. 75) asserts that performance management is a continuous process that involves a number of stages. The stages take place in a cyclical manner. The first stage entails acquiring information on the company’s strategic goals and mission as well as knowing the work in question well. Performance planning is the actual discussion between the management and the employees and ensuring you come into a consensus on what should be done and how is going to be done. In performance assessment, both employees and the managers are involved and it evaluates the extent to which the desired behaviors have been attended to and whether the anticipated outcomes have been a chieved (Groove, Joby Fisk 2006 p. 255). This is a very important stage as it provides an avenue in which the employee receives feedback on hi/her performance. Re-contracting is the final stage and is very essential to the planning component. It uses the insights gained from all other stages.Advertising Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The managers’ performance receives varying conceptions depending on the relationship between the organization and the parties with stakes in the company (Jean-Franà §ois, 2004, p.93). A poorly performing company can be criticized from different perspectives or reasons as to why it is being viewed that way. The opinions will depend on the expectations of the interested parties. Let us for example look at the shareholders of a profit making company. The shareholders commit their funds in a company with one main reason and that is to get revenues or profits in terms dividends. A company may decide not to pay dividends for a particular year(s) because of low returns. Subsequently since the shareholders’ expectations have not been met, they raise a complaint and if you go asking their opinions the answers you will get is that the managers of the company are performing poorly and they need to be replaced. On another perspective, we might have the suppliers of goods and othe r materials and other creditors including banks. Delaying their debts will create a problem, as they will perceive that a company that cannot honor dues in time shows declining performance and the blame is laid on the management team of the company (Aguins 2009, p. 75). Finally, the most important person who can destroy the company’s image if his/her expectations are not met is the customer. In the event that customer demands are not met either qualitatively or quantitatively, he/she can be very disappointed and shift the consumption of the products to another potential supplier in a highly competitive market. Moreover, if you want to know who has been blamed in this context ask the customers and all the answers will be same, that they have no confidence with the management of the company in question. These indicators can be used to measure the managers’ performance and instances of different conceptions from different parties. In fact, both the CEO of the company and the other managers must ensure that all the above aspects are adequately addressed. It is important that measures of managers’ performance reflect the total value of work done. The set of behaviors that are relevant to the organizational goals where that person works is referred to as performance domain (Morse Wagner 1978, p. 23). Performance must be measurable in accordance with managers’ contribution towards organizational objectives. This is because failure of the management to achieve certain goals may be caused by an individual manager in a management team. For instance, low profits of a company might have been caused by low sales, which was because of poor marketing strategies by the marketing manager. The other departmental managers might have played their roles well but due to failure of one of their teams, the blame will befall on the entire management team and in particular the overall manager. Therefore, good parameters should be used to assess the individu al’s contribution towards performance of the company. Performance is not a consequence of action. It is the action itself. Performance is different from effectiveness, which is viewed as the total values of the organizational behaviors. Nevertheless, this does not mean effectiveness measures do not have the utility for assessing performance of managers. Valid assessments need that only variation sources in performance and effectiveness controlled by managers’ need to be assessed. Therefore, assessment of managers’ performance should incorporate only those elements that are within their scope of control (Sevastos Hosie 2009, p. 148). Management takes place within the organizational context. Therefore, for the sake of effectiveness, there must be a fit between the performance of managers and goals of an organization. Managers’ performance can be defined as the total value of contribution towards the effectiveness and the goals of organization attained join tly by the managers and people as determined by factors controlled by managers’ in a given environment. Roles and Responsibilities of Managers It is the managers’ responsibility to maintain as well as improve the performance of the people under his control, which in this case may mean the employees. There is a relationship between managers’ performance and the level of achievement of organizational goals together with people (Aguinis, 2009, p.79). Managers should practice the principle of empowering by encouraging the employees. Managers’ roles include policy formulation, strategy development, giving direction, facilitation and extensive monitoring of the performance of others. It is the role of managers to plan, organize, lead and control. T hese roles have been linked to managerial behaviors, which are â€Å"direction setting, problem solving and decision making.† Managers’ behavior can easily be distinguished from that of non- managers: m anagers decide command and coordinate while performers implement, obey and undertake the specialized tasks delegated to them. A manager should manifest his competencies and technical expertise through proper handling of things as well as coordinating them in the most appropriate manner possible (Grove, Joby Fisk, 2006). Minzberg (2004, p. 77) suggested that the managerial role ignores matters related to ownership and power and suggests that contingency factors yield variations in the managerial work characteristics. These characters include environmental factors (physical location, climate and community characteristics), job matters (level of hierarchy, functions and level of supervision), individual variables (tastes, personality, preferences and style) and situational factors (technological advancement and time-related factors). An organized set of behaviors form job role. Managers perform multiple roles to meet the increasing demands of performing their functions (Minzberg 2004 p. 80). Contextual Performance and Organizational effectiveness Many scholars from varying traditions agree that behavioral patterns that are outside formal job task requirements are significant for human performance, effectiveness, and profitability of organizations. Contextual behaviors make a huge contribution in maintaining and enhancing social and psychological environment that facilitates technical production system (Lindberg, Bartholomew Kaiser 2007, p.50). Actually, contextual performance leads to the improvement of effectiveness of departmental units and the entire organization. There is a tentative link between effectiveness of an organization and Organizational Citizenship Behavior (OCB). Therefore, it is advisable to include managers’ contribution towards the effectiveness of an organization when measuring performance of managers. Contextual aspects of managers’ work are very critical and significant as far as the productivity of an organization is concern ed. Operationalizing Managers’ Performance Past studies indicate that sometimes measuring managers’ performance is limited by lack of common metric for assessing the performance. Many different opinions have come up as to which measures are valid for measuring the performance of managers in an organizational context. Measuring managers’ performance to come up with clear comparisons between managers from different domains and organizations is empirically difficult since managers’ work is faced with many complications. Links between managers’ Contextual and Task Performance According to Motowidlo, Borman and Schmits (1997, p. 72), the difference between task and contextual performance is shown by the figure below (Fig. 1.0) Fig. 1.0 Theory of personal differences in contextual and task performance Theory of contextual and task performance stemmed from the literature that was thought to be the best for developing a suitable measurement instrument. Th e theory dimensions make up the performance. Consistence maintenance of contextual behaviors across individuals may contribute to effectiveness in an organization. Contextual behaviors are directly linked to personality while task is linked to cognitive ability. Contextual and task performance depend upon different predictors (Carmeli Tishler, 2006, p. 25). Cognitive ability and personality are mediated by intelligence, skills and job habits. All classifications emphasize that behaviors that entails solidarity and assisting others contribute ultimately to the effectiveness in an organization. The establishment of a good work environment for optimal performance can eradicate pressures on managers resulting from unrealistic performance demands (Lant Shapira 2008, p. 79). This can be attained by reduction of the complexity of practices of organizational and accelerating job security. Negative emotions have been identified as aspects of negative affectivity that lead to the managersâ €™ perception that the environment is posing a threat to them. Too much pressurization in work that is too complex can result to negative or positive affectivity. Evaluations of affective well being and sufficient job satisfaction should be in line with working environment where the manager is operating. Competence, devotion, commitment, and aspiration are some of the behavioral components of mental health associated with positive levels of affective well being and job satisfaction. High performing managers are in most cases exposed to challenging job assignments. This gives them an opportunity to handle the most difficult and complex tasks and they can gain a valuable experience that can enable them work in varying job environments since there is proof they are achievers (Mintzberg, 2004). Managers who spend substantial amounts of their time in jobs with less or no opportunities to gain skills and control mechanisms are likely to become incompetent. Highly motivated managers wh o like challenges may respond to risks in a manner that may raise their anxiety but without affecting their adverse well-being and sufficient job satisfaction (Micari 2007, p.460). One way of enhancing affective well-being in managers is through allowing them a recreational leave after undertaking a highly complex and demanding work assignment. Performance is defined more broadly than just considering whether the managers are completing their tasks and performing their duties accordingly. Additional factors like contextual performance need to be considered when forming an assessment of managers’ performance (Aguinis, 2009). Other tools that can be used to measure managers’ performance Sevastos Hosie (2009, p. 140) pointed out there were other diagnostic tools used to measure managers’ performance. It should also be noted that these measurements must be quantitative, accurate, reliable and proactive to support the corporate culture. These tools are: Foundation information: This refers to organization’s financial documents like profit and loss account, balance sheet and cash flows. Thorough inspection and auditing of these documents can indicate the financial position of an organization and tell how the managers have been performing. Productivity information: This focuses on the productivity of key resources, labor in particular. The productivity will determine whether the there is Return on Investment on the part of the company. High productivity shows excellent managers’ performance. Competence information: This is not an easy task. It tries to look at how many innovations a company has made. The more the innovations are, the better the management of the company. Resource allocation information: This shows the manner in which resources are allocated in an organization. Optimal allocation of resources can give an indication of whether the company is under good management. General Mental Ability (GMA) is a good predictor of work performance in general and managers’ performance in particular. From a theoretical perspective, the determining variables in job performance are GMA, work experience and individual trait of conscientiousness. Thus, there is need for incorporating a measure of conscientiousness in any consideration of the performance of the managers. Conclusion Measuring of managers’ performance is an elaborate exercise that goes beyond what managers are achieving within their organizations’ set goals and objectives. Organizational effectiveness alone is not a sufficient measure of the organizational or managers’ performance. The overall performance of a business entity or organization is the contribution of individual managers’ performance. No performance of an organization can be attributed to individual managers’ contribution (Carmeli Tishler, 2006, p. 20). Contextual behavior and organizational efficiency are equally important in assessing the manag ers’ performance and should be taken into consideration whenever any performance of the organization is to be carried out. Many organizations ignore some critical factors that should not be left out while formulating a measurement criterion. It should be also noted that the measurement is a complex thing and as such, it calls for competence, experience and relevant skills to make it a success. References Aguinis, H. (2009) Performance management. 2 Ed. Upper Saddle River, NJ: Pearson Prentice Hall. Carmeli, A. Tishler, A. (2006) The relative importance of the top management teams, managerial skills International Journal of Manpower Vol: 27 Issue: 1 ISSN: 0143-7720 Date: 2006 Pages: 9 36 Goddard, A. Broad, M. (2010) Internal performance management with UK higher education, Measuring Business Excellence, Vol. 14(1) pp. 60 –66 Grove, J., Joby, J. Fisk, P. (2006) Improvisation in service performances: Lessons from jazz, Managing Service Quality, Vol. 16(3) pp. 247 268 Jean-Franà §ois, H. (2004) Performance measurement and Organizational Effectiveness: bridging the gap, Managerial Finance, Vol. 30(6) pp. 93 – 123 Lant, T. Shapira, Z. (2008) Managerial reasoning about aspirations and expectations, Journal of Economic Behavior Organization, Vol. 66(1) pp. 60 73 Lindberg, T., Bartholomew, C., Kaiser, R. (2007) Assessing the Flexibility of Managers: A comparison of Methods International, Journal of Selection and Assessment, Vol. 15(1) pp. 40 – 55 Micari, M. (2007) Assessment Beyond Performance: Phenomenography in Education. Evaluation American, Journal of Evaluation, Vol. 28(4) pp. 458 – 476 Mintzberg, H. (2004) Managers not MBAs: A hard look at the soft practice of Managing and Management development. San Francisco, California: Berret-Koehler Morse, J. Wagner, F. (1978) Measuring the process of Managerial effectiveness, Academy of Management Journal, 21(1), pp. 24-35 Motowidlo, S., Borman C. Schmit, J. (1997) A theory of i ndividual difference in task contextual performance, Human Performance, 10(2), pp. 71-83 Sevastos, P. Hosie, J. (2009) Does the â€Å"happy productive worker† thesis apply to managers, International Journal of Workplace Health Management Vol. 2(2) pp. 131 – 160.

Definition and Examples of Declarative Questions

Definition and Examples of Declarative Questions A declarative question is a  yes-no question that has the form of a declarative sentence but is spoken with rising intonation at the end. Declarative sentences are commonly used in informal speech to express surprise or ask for verification. The most likely response to a declarative question is agreement or confirmation. Examples and Observations You think Im kidding you? You think its a joke to have to walk home on a clear night with an umbrella? You think that because Im quirky I dont hurt? Youve got it backward. Im quirky because I hurt.(Jack Weston as Danny in The Four Seasons, 1981)Henry Rowengartner: Wow, you ate that whole thing?Frick: Why, sure! It wasnt that much.(Rookie of the Year, 1993)This isnt working out, Jin-ho said. Were going to have to let you go.Youre firing me? she said.Yes. Ann will call you Monday re the paperwork.Youre firing me  at a bar? Outside the bathroom in a bar?â€Å"Im sorry if it doesnt suit your high standards.(Stephanie Clifford, Everybody Rise. St. Martins Press, 2015)Vivian: I was supposed to ride that barrel right out of this crummy town.Jaye: And you never considered a bus?(Barrel Bear, Wonderfalls, 2004) Declarative Questions vs. Rhetorical Questions A declarative question has the form of a statement: ​Youre leaving? but has the intonation of a question when spoken and is marked by a question mark in writing.A declarative question differs from a rhetorical question such as: Do you think I was born yesterday? in two ways:(Loreto Todd and Ian Hancock, International English Usage. Routledge, 1986) A rhetorical question has the form of a question:Was I tired?A declarative question seeks an answer. A rhetorical question requires no answer since it is semantically equivalent to an emphatic declaration:Do you think Im stupid? (i.e. Im certainly not stupid)Am I tired? (i.e. Im extremely tired.)

COMPERATIVE STUDY TO DETERMINE THE BEST DIANOSTIC IMAGE MODALITY IN Essay

COMPERATIVE STUDY TO DETERMINE THE BEST DIANOSTIC IMAGE MODALITY IN PERIPHERAL ARTERIAL DISEASE (PAD) - Essay Example Similar to pathology in the coronary arteries, the pathologic hallmark of the lesions involves plaques of atherosclerosis with calcium deposition, thinning of the media, patchy destruction of muscle and elastic fibers, fragmentation of the internal elastic lamina, and thrombi composed of platelets and fibrin (Duerschmied et al., 2006, 310-315). According to statistics delineated in different articles, the primary sites of involvement are the abdominal aorta and iliac arteries comprising 30% of symptomatic patients; the femoral and popliteal arteries consisting of 80 to 90% of patients, and the more distal vessels, including the tibial and peroneal arteries making 40 to 50% of patients (McDermott, 2006, S2). Mechanically and topographically, atherosclerotic lesions occur preferentially at arterial branch points, which are sites of increased turbulence leading to altered shear stress, and hence injury to the tunica intima. Epidemiologic and demographic data suggest that the distal vasc ulature is most commonly involved in elderly individuals, mostly in patients with diabetes mellitus (Marso and Hiatt, 2006, 921-929). The history and physical examination are usually sufficient to establish the diagnosis of peripheral arterial disease (PAD). An objective assessment of the severity of disease is obtained by noninvasive techniques. These include digital pulse volume recordings; Doppler flow velocity waveform analysis; duplex ultrasonography, which combines B-mode imaging and pulse-wave Doppler examination; segmental pressure measurements; transcutaneous oximetry; stress testing, usually using a treadmill; and tests of reactive hyperemia (Mohler, III, 2003, 2306-2314). In the presence of significant PAD, the volume displacement in the leg is decreased with each pulse, and the Doppler velocity contour becomes progressively flatter. Duplex ultrasonography is often useful in detecting stenotic lesions in native

Contemporary Issues in Auditing Assignment Example | Topics and Well Written Essays - 3000 words

Contemporary Issues in Auditing - Assignment Example An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe our that our audit will provide a reasonable basis for our opinion. Our audit procedures will include test of of documentary evidence supporting the transactions recorded in the transactions, tests of physical existence of inventories, and direct confirmation of receivables and certain other assets and liabilities by correspondence with selected customers, creditors, legal counsel, and banks. At the conclusion of our audit, we request certain written representations from you about the financial statements and other related matters. Our fees for this audit will be based on the time spent by various members of our audit staff at our regular rates, pus direct direct expenses. We will notify you immediately if any circumstances we encounter that could significantly affect our initial audit fee estimate f In order to us to work as efficiently as possible, it is understood that your accounting staff will provide us with the prior year's trial balance on or before January 15, 2008, and also with the schedules and and account analysis described on the separate attachment. It is standard operating procedure tha... ..................... February 20, 2008 Delivery of audit report......................... March 5, 2008 Our fees for this audit will be based on the time spent by various members of our audit staff at our regular rates, pus direct direct expenses. We will notify you immediately if any circumstances we encounter that could significantly affect our initial audit fee estimate f8,000. In order to us to work as efficiently as possible, it is understood that your accounting staff will provide us with the prior year's trial balance on or before January 15, 2008, and also with the schedules and and account analysis described on the separate attachment. If these arrangements re in accordance with your understanding, please sign this letter in the space provided and return to a copy to us at your earliest convenience. Very truly yours,----------------------------------- Carter and Corbin Chartered Accountants Accepted by: ____________________ Date Ethical Part cover 15% - The information that should be passed to the new auditors- clearance from previous auditor To the Stockholders, Rentokill Initial London November 28, 2007 Dear sir/maa'am: It is standard operating procedure that a new external auditor must contact your company's former external auditor. Thus, please send us recommendation letter addressed to your prior

A Christmas Carol Essay Example for Free

A Christmas Carol Essay What evidence is there in A Christmas Carol of social, cultural and historical contexts? A Christmas Carol is rich with historical, cultural and social contexts, all poignantly intertwined throughout the text. As the story is set in Victorian times, we are immediately given a sense of time and place in stave 1, by descriptions of both customs and daily routines. As the tale was set so long ago, there were obviously no modern appliances or conveniences. Dickens shows this as he describes Scrooges counting house. Scrooge had a very small fire, but the clerks fire was so much very smaller that it looked like one coal, and tried to warm himself at the candle. We are also given an insight into the era when Dickens outlines customs in the streets Meanwhile the fog and darkness thickened so, that people ran about with flaring links, proffering their services to go before horses in carriages, and to conduct them on their way The language used, I believe, is also influential to the overall story. Again Dickens is setting a time frame, which the tale adheres to, and the phrases used by some characters highlight this I am sorry with all my heart to find you so resolute. We have never had any quarrel, to which I have been a party. But I have made the trial in homage to Christmas, and Ill keep my Christmas humour to the last, Stop till I shut the door of the shop. Ah! How it skreeks! There ant such a rusty bit of metal in the place as its own hinges From the beginning of the novel and, obviously due to its title, we can see that there is much influence from the cultural aspects of Christmas. As the story is set in the festive season, great emphasis is stressed on Scrooges attitudes compared to those around him at this traditionally jovial time of year/ This is a major factor in the structure of the story, although it is the general social and cultural side of the holiday rather than the religious meaning. In fact religion is only suggested once, It might be pleasant to them to remember upon Christmas Day, who made lame beggars walk and blind men see, but isnt as important as the suggestion of charity and kindness to ones fellow man. The social aspects of the time, particularly the attitudes of some upper class towards the lower classes, play an important role in the story and are voiced by, and then turned against, Scrooge. When asked whether he wishes to support a charity, Scrooge replies that prisons and workhouses are all the charity the poor need. The harshness of these remarks are later presented to Scrooge in a different context and he begins to realize the full error of his ways- a major point in the story. Dickens, contrary to Scrooges thinking, later criticizes these opinions when we are shown the extent of the Cratchits poverty. I believe the sympathy Dickens arouses when describing the house, stems from his own childhood where he was forced to work in a workhouse similar to those Scrooge talks about. This, I think, provides strong emotional aspects in the text and enables Dickens to effectively compel his audience to disagree with the social views presented.

Whoops Essay -- Analysis, John Lanchester

The book â€Å"Whoops! Why everyone owes everyone and no one can pay† by John Lanchester, will be analyzed in this essay in order to look at the wider geopolitical banking strategy, the roles and development of international institutions and strategies that have lead to the current economic crisis. At the beginning of the book, the author identifies two key events which created the environment for such a crisis to occur: the Cold war and the tearing down of the Berlin Wall. These two events are pointed out because as he sees it, the cold war provided the capitalist nations with an opposite system to compare to, and its advantages in terms of social justice and peoples rights were incomparable. However after the fall of the Berlin Wall, â€Å"capitalism began a victory party that lasted twenty years† (J.Lanchester, p15), and as at its core capitalism is not an equal distributor of wealth, in addition to many countries after the fall abandoning their focus on social justice and focusing on growth, which was not sustainable. Here the author starts to lead the reader to considering how the strategies of society as a whole and key agent of the financial industry were formation of the environment in which they were. A proportion of the blame must lie with certain agents of the industry and their lack of actions. Deregulation had gone too far and governments were too slow or unwilling to act on time. An example given is when five major banks (Goldman Sachs, Merrill Lynch, Lehman Brothers, Bear Sterns, and Morgan Stanley) in 2004 were allowed to cut the amount of capital they had to hold as a reserve against potential loses. (J.Lanchester, p.163). The author points out how successful lobbying had become and that those banks at one point wer... ...100). These three banks had to all be bailed out. This situation incorporates the key four elements of the author’s argument, and is one of many. The book’s prevailing theme is how the strategy adopted by various agents of the financial industry has trickled down to the society. The author upon mentioning the creation of securitization, several times notes that this is what â€Å"broke banking†. This change in strategy of banks and the society as a whole led to many changes. The lender and the borrower being separated and the loan sold-off is a key flaw and arguably, speaking in general terms can be largely attributed to the systematic errors existence which played a large role in the most recent crisis. Throughout the book there is a feeling that the author sees the system as not being beneficial to the end consumer when fundamentally this should be the opposite.

Belonging Essay

Belonging is a natural reaction, intrinsic. We search in order to find a community, a group of friends, a country in which we belong. America is a place whereWhen we feel uncomfortable, we say â€Å"I don’t belong here† and when you find a situation in which you are happy, you can be yourself, natural and free you feel as if it was created only for you. It can also be the most wonderfully liberating experience when you find yourself in a culture in which you do not belong. In not belonging, you become someone free of restrictions, free of the expectations, free to creatively exre your imagination without the guilt that often latently lies behind the veiled threat of failure and disappointment. The apparent fact of not belonging is open for everyone, but it†tms the course of action taken in light of this cultural segregation which should be the goal of the traveler today. â€Å"I had, I realized become strangely accustomed to living in Korea, even though a part of me desired to be back on the beach in Thailand. Rules, or lack of, which shaped me more as an individual than any thing else I had experienced in my life. We are expected to increase our spending power as we age, not our understanding of other cultures, not our compassion for each other or for those living on the other side of the economic spectrum. The traveler, if open to the possibility, is in a perfect position to experience this transcendence. America is the ultimate machine, the ultimate company, and the by-product of its hyper capitalist model is the increasingly glaring loss of personal creativity and individualism within its borders. We are consumers and we are resources to be used and abused in a cycle of production of consumption. I didn†tmt belong, but I could never belong and it was a liberating experience, one which taught me in a way the rules for living on the fringe of a society. I was an outsider, I obviously did not belong into this society, one which is very homogeneous, one in which a foreigner learns to live with the constant attention of being gawked and stared at, around each corner, in each subway car, in every restaurant, everywhere. In our own cultures, where in a sense, at least culturally, linguistically and historically we do belong, life often becomes a stifling world in which our lives are predestined, packaged products.

No Life Without Education Essay

â€Å"Born in San Francisco in 1876 Jack London grew up in a world witnessing the settlement of the last frontier. It was a world in transition. The memory of Jack London’s early life was etched and scarred by the bitterness of poverty. His family was continually on the move to find subsistence. At the age of ten the boy was on the street selling newspapers to supplement the family’s meager income. For fourteen years thereafter — until his first writing success at twenty-four. He became a â€Å"work beast† laboring in a cannery, a jute mill, a laundry, and shoveling coal in a power station. He worked for ten cents an hour, thirteen to fourteen hours a day, six and seven days a week. Is it any wonder that he saw life in terms of man’s unending struggle against a ruthless nature? Is it any wonder that he saw in socialism a chance for the salvation of others as lost as he had once been? Is it any wonder that he hungered for knowledge and success that would lift him above the degrading plain of poverty? Look, then, to the formative years for a clue to the life and works of Jack London. There you will see the birth of that indomitable spirit which could eventually lead him only to a philosophy of individualism. In his heart and sympathies Jack London was a socialist; he could not forget the sufferings of his past. But in his mind and actions he struggled — he was an individualist — he could not forget his achievements. Throughout his life he struggled valiantly to reconcile these conflicting philosophies. While he did not live long enough to begin the autobiography his notes indicate he planned to write, we are fortunate that so much of his writing is autobiographical in nature. Oyster pirate, deep-sea sailor, hobo, Alaskan prospector, all these incidents in his life make fascinating reading. But most important of all Jack London’s adventures was his struggle to become a writer. Without guidance, writing under almost impossible circumstances, for the most part educating himself, and faced with continual economic hardship, he stumbled and groped for three long years in the literary wilderness. In the beginning the rejection slips followed one another with monotonous regularity. Had he been a weaker man he might have succumbed. Certainly the odds were against him. But at the end of his three-year travail success was his. He had conquered his Everest; the world was at his feet! † He became the highest paid, most popular novelist and short story writer of his day. He wrote passionately and prolifically about the great questions of life and death, the struggle to survive with dignity and integrity, and he wove these elemental ideas into stories of high adventure based on his own first hand experiences at sea, or in Alaska, or in the fields and factories of California. As a result, his writing appealed not to the few, but to millions of people all around the world. Along with his books and stories, however, London was widely known for his personal exploits. He was a celebrity, a colorful and controversial personality who was often in the news. Generally fun-loving and playful, he could also be combative, and was quick to side with the underdog against injustice or oppression of any kind. He was a fiery and eloquent public speaker, and much sought after as a lecturer on socialism and other economic and political topics. Despite his avowed socialism, most people considered him a living symbol of rugged individualism, a man whose fabulous success was due not to special favor of any kind, but to a combination of unusual mental ability and immense vitality. Strikingly handsome, full of laughter, restless and courageous to a fault, always eager for adventure on land or sea, he was one of the most attractive and romantic figures of his time. He described his literary success largely to hard work – to â€Å"dig,† as he put it. He tried never to miss his early morning 1,000-word writing stint, and between 1900 and 1916 he completed over fifty books, including both fiction and non-fiction, hundreds of short stories, and numerous articles on a wide range of topics. Several of the books and many of the short stories are classics of their kind, well thought of in critical terms and still popular around the world. Today, almost countless editions of his writings are available and some of them have been translated into as many as seventy different languages. Somehow, he managed to do all these things and still find time to go swimming, horseback riding, or sailing on San Francisco Bay. He also spent 27 months cruising the South Pacific in the Snark, put in two tours of duty as an overseas war correspondent, traveled widely for pleasure, entertained a continual stream of guests whenever he was at home in Glen Ellen, and did his fair share of barroom socializing and debating. In order to fit all this living into the narrow confines of one lifetime, he often tried to make do with no more than four or five hours of sleep at night. By the age of 29 he was already internationally famous for The Call of the Wild (1903), The Sea-Wolf (1904), and other literary and journalistic accomplishments. He was divorced from Bessie, his first wife and the mother of his two daughters, Joan and Little Bess, and he had married Charmian (Kittredge). Summary Buck, a physically impressive dog, is living the good life in California when he gets stolen and put into dog slavery. For him, this means pulling a ridiculously heavy sled through miles and miles of frozen ice with little or nothing to eat and frequent beatings. As the definition of a domestic dog, Buck is out of his element until he begins to adapt to his surroundings, and learn from the other dogs. Buck also starts having strange dreams about the primitive days of dogs and men, before the advent of cities or houses or culture. There are no rules or morality here (interesting, since Buck’s first owner was a judge), save for what is called â€Å"the law of club and fang,† a kill-or-be-killed, ruthless way of thinking. Buck becomes involved in a struggle for power with another dog, Spitz. They end up fighting and Buck wins, taking over as leader of the sled dog team. The team changes human management (new drivers) and the new people don’t seem to be very competent. They’re bad drivers and end up killing everyone, including themselves. Fortunately, Buck is saved by a kind man named John Thornton, moments before the group death in an icy river. Buck becomes attached to Thornton and even saves his life several times. Buck sets off on a journey with his new master and several other men, loving his new life, except for the need to run off and kill things in the woods every once in a while. Buck fights with temptation: stay with Thornton, or kill things? Be civilized, or be wild? And naturally there are several missed phone calls from The Wild and a lot of angry messages (â€Å"Where are you already?†). At the end of Call of the Wild, Thornton is killed by the Yeehat tribe, on which Buck later extracts vengeance. Buck is then free to run with the wild dog packs, but only on the condition that he is leader. Character sketch Thornton Character Analysis Thornton is one of the main human characters in the book. He is important in the life of Buck, but we don’t know much about him. In one sense, Thornton’s role in the story is to help us learn more about Buck – Thornton’s there so we can understand this mysterious call of the wild and why Buck feels torn about whether to stay with humans or go into the wild. Thornton is both the greatest thing that’s ever happened to Buck and the one thing holding back from his true destiny as a wild dog pack leader. One the one hand, Buck is devoted to Thornton in a way that he is not devoted to anyone or anything else – recall how Buck was willing to jump off a cliff for Thornton. On the other hand, Thornton’s presence is preventing Buck from going off into the wild and answering â€Å"the call† that he hears so often. How do you view Thornton’s role in The Call of the Wild? Does he bring out the best in Buck, or does he prevent Buck from realizing his dream? Or is it both? Francois Character Analysis OK, if you’re having a hard time keeping Francois and Perrault straight, Francois is the Robin character in this Batman and Robin-like team. He doesn’t have Perrault’s brains, and defers to his buddy’s decisions. But Francois is a nice guy, as we see when he uses his own shoes to make moccasins for Buck. In short, we’re partial to the guy, and we feel sorry when Buck parts ways with the two men. Buck’s commentary on how the people in his life are always transient becomes all the more sad for us, because we’ve already gotten to like Francois and Perrault.

Ac202 Chapter 18 Notes Essay Example

Ac202 Chapter 18 Notes Essay Example Ac202 Chapter 18 Notes Paper Ac202 Chapter 18 Notes Paper Chapter 18 Cost Volume Profit Analysis Prof. Baick 1. Cost-Volume Profit Analysis A technique that examines changes in profits in response to changes in sales volumes, costs, and prices 2. Components of Graphing CVP Analysis Relationships $ D C B A units where: F = Total fixed costs P = Price per unit of product (goods or services) Profit = Targeted profit level Q = Quantity of product sold (goods or services) TR = Total revenue TVC = Total variable costs V = Variable cost per unit 1 3. Assumptions Made in CVP Analysis Number of output units only revenue driver and only cost driver Total costs can be separated into the primary categories of variable costs and fixed costs Total revenues and total costs are linear within the relevant range (and time period) Unit selling price, unit variable costs, and fixed costs known and constant Single product or constant sales mix Time value of money effects ignored 4. Basic Formula and Terminology Assume that: U = Number of Units Produced and SOLD SP = Selling Price per Unit VC = Variable Cost per Unit FC = Total Fixed Costs Sales Variable Costs Fixed Costs = Profit Breakeven The level of sales whereby total profits are equal to zero. Contribution margin Sales Revenue – Variable Costs Contribution margin per unit Selling price per unit – Variable cost per unit Contribution margin ratio = Total Sales Revenue – Total Variable Costs Total Sales Revenue OR: Selling price per Unit – Variable costs per Unit Selling price per Unit 2 5. Breakeven Analysis Breakeven sales Breakeven units 6. Target Profit Target sales Target units 7. Margin of Safety 8. Margin of Safety Ratio 9. Product Mix Decisions 10. Leverage and Cost Structure Definition Increasing sales by a given percent and increasing profits by an increasingly larger proportion. Operating leverage Financial leverage 11. Primacy of Contribution Margin 3 CVP Graphical Analysis 4 IMPORTANT FORMULAS: SP VC FC U = = = = Selling price per unit Variable cost per unit Total Fixed costs Units sold Revenue Expenses Variable Fixed FC = Net Income SP(U) VC(U) = NI BREAK EVEN MEANS REVENUES = EXPENSES OR NET INCOME IS 0 Contribution Margin Ratio = Break-even (Units) = FC __ SP VC FC____________ Contribution Margin Ratio Break-even (Sales) = Target Profit (Units) =FC + TP SP VC Target Profit (Sales) = FC + TP Contribution Margin Ratio = Actual (Expected) Sales – Break 1. If sales are $80,000, variable costs are $50,000, and fixed costs are $20,000, the contribution margin ratio is: Sales – Variable Costs Sales 80,000 – 50,000 80,000 = . 75 or 37. 5% Example 2. A firm with fixed costs of $61,500 per month sells three products with the following characteristics: Sales Mix Contribution Product Percentage Margin P 25% $48 Q 50% 50 R 25% 52 How many total units must be sold to breakeven? First Compute the Weighted 3. The Pierson Co. has the following unit and mix data: Do Dah Unit sales price $5. 00 $4. 00 Unit contribution margin 0. 75 1. 20 Sales mix ($) 80% 20% Fixed costs Target profit How many units of Dah must be sold at the breakeven point? = $ 99,000 ($0. 75 x . 80) + ($1. 20 x . 20) = $99,000 $0. 84 = 117,857. 143 4. Baldwin’s Bagel Shop had the following activity for December: Total bagels sold Total revenues Total fixed costs Total variable costs 17,000 $595,000 99,000 357,000 What was Baldwin’s margin of safety, in dollars? Contribution Margin Ratio = $595,000 $357,000 $595,000 Breakeven Sales = $99,000 . 40 Margin of Safety = $595,000 $247,500 = $347,500 = $247,500 = . 40 What was Baldwin’s margin of safety ratio? = $347,500 $595,000 58. 4% = 8 Example 5. The Nunn Co. produces a single product. Its cost structure is: Fixed Cost $35,000 60,000 Variable Cost Per Unit $15 10 Manufacturing costs Non 6. Smith Co. has a contribution margin ratio of 40% and a breakeven point of $200,000 in sales. If the firm reports net income of $50,000 after taxes of 50%, what were total sales for the year? 0 = Sales – Variable Costs – Fixed Costs 0 = Contribution Margin – Fixed Costs 0 = $200,000(0. 4) – FC FC = $80,000 $50,000 = 0. 5[(. 4 x Sales) $80,000] Sales = $450,000 Example 7 Sales Variable costs Contribution margin Fixed costs Net income Old $2,000,000 1,400,000 600,000 400,000 200,000 New $2,000,000 600,000 1,400,000 1,200,000 200,000 Note in this example that both Old and New have the same level of Sales and Net income. This means that the total costs for both Old and New are the same. However, the cost structure for each is different. This means that the breakeven point and profitability after breakeven are different for Old and New. In particular, Old and New have different Degrees of Operating Leverage (DOL). 10 Strategic Decision Making Candice Company has decided to introduce a new product, which can be manufactured by either of two methods. The manufacturing method will not affect the quality of the product. The estimated manufacturing costs of the two methods are as follows: Method A $5. 00 $6. 00 $3. 00 $2,440,000 Method B $5. 60 $7. 20 $4. 80 $1,320,000 Direct materials Direct labor Variable overhead Fixed manufacturing cost Candice’s marketing research recommends a selling price of $30 per unit. The fixed selling costs are $500,000 plus $2 per unit sold, regardless of manufacturing method. A. Calculate the estimated break-even point in annual unit sales of the new product if Candice Company uses: 1) 2) Manufacturing Method A Manufacturing Method B B. Which production technology should the firm use? In particular, discuss the range for the level of output that would make Method A preferable and the range for the level of output that would make Method B preferable. 11 Extra Problem The following information pertains to ABC Company: 2004 $1,020,000 240,000 2005 $960,000 210,000 Sales Net Income Determine the breakeven sales for ABC Company. 12

Chronology of Ancient Mesopotamian Kings of Sumeria

Chronology of Ancient Mesopotamian Kings of Sumeria Mesopotamia, the Land Between Two Rivers, was located in present-day Iraq and Syria  and was home to one of the most ancient civilizations: the Sumerians. Between the Tigris and Euphrates rivers, Sumerian cities such as Ur, Uruk, and Lagash provide some of the earliest evidence of human societies, along with the laws, writing, and agriculture that made them function. Sumeria in southern Mesopotamia was countered by Akkad (as well as Babylonia and Assyria) in the north. Rival dynasties would shift the center of power from one city to another over thousands of years; the Akkadian ruler Sargon united the two societies during his reign (2334-2279 B.C.) The fall of Babylon to the Persians in 539 B.C. saw the end of indigenous rule in Mesopotamia, and the land was marked by further conquests by Alexander the Great, the Romans, and before coming under Muslim rule in the 7th Century. This list of ancient Mesopotamian kings comes from John E. Morby. Notes based on Marc Van De Mieroops. Sumerian Timelines First Dynasty of Ur c. 2563-2387 B.C. 2563-2524... Mesannepadda 2523-2484... Aannepadda 2483-2448... Meskiagnunna 2447-2423... Elulu 2422-2387... Balulu Dynasty of Lagash c. 2494-2342 B.C. 2494-2465... Ur-Nanshe 2464-2455... Akurgal 2454-2425... Ennatum 2424-2405... Enannatum I 2402-2375... Entemena 2374-2365... Enannatum II 2364-2359... Enentarzi 2358-2352... Lugal-anda 2351-2342... Uru-inim-gina Dynasty of Uruk c. 2340-2316 B.C. 2340-2316... Lugal-zaggesi Dynasty of Akkad c. 2334-2154 B.C. 2334-2279... Sargon 2278-2270... Rimush 2269-2255... Manishtushu 2254-2218... Naram-Suen 2217-2193... Shar-kali-sharri 2192-2190... anarchy 2189-2169... Dudu 2168-2154... Shu-Turul Third Dynasty of Ur c. 2112-2004 B.C. 2112-2095... Ur-Nammu 2094-2047... Shulgi 2046-2038... Amar-Suena 2037-2029... Shu-Suen 2028-2004... Ibbi-Suen (The last king of Ur. One of his generals, Ishbi-Erra, established a dynasty in Isin.) Dynasty of Isin c. 2017-1794 B.C. 2017-1985... Ishbi-Erra 1984-1975... Shu-ilishu 1974-1954... Iddin-Dagan 1953-1935... Ishme-Dagan 1934-1924... Lipit-Ishtar 1923-1896... Ur-Ninurta 1895-1875... Bur-Sin 1874-1870... Lipit-Enlil 1869-1863... Erra-imitti 1862-1839... Enlil-bani 1838-1836... Zambiya 1835-1832... Iter-pisha 1831-1828... Ur-dukuga 1827-1817... Sin-magir 1816-1794... Damiq-ilishu Dynasty of Larsa c. 2026-1763 B.C. 2026-2006... Naplanum 2005-1978... Emisum 1977-1943... Samium 1942-1934... Zabaya 1933-1907... Gunnunum 1906-1896... Abi-sare 1895-1867... Sumu-el 1866-1851... Nur-Adad 1850-1844... Sin-iddinam 1843-1842... Sin-eribam 1841-1837... Sin-iqisham 1836... Silli-Adad 1835-1823... Warad-Sin 1822-1763... Rim-Sin (probably an Elamite. He defeated a coalition from Uruk, Isin, and Babylon and destroyed Uruk in 1800.)

My personal statement for getting into nursing Essay

My personal statement for getting into nursing - Essay Example I have set up and run a first time mums group. This group consists of a five week programme: week one is an introduction to the other mums and we show the mums the signs and symptoms of meningitis; the second week is baby massage of which I am a trained teacher; the third week is weaning, the signs and what food to introduce and the implications of weaning too early; the fourth week is sleep and the sleep methods the PCT recommends. We also discuss SIDS (sudden infant death syndrome). This week can be challenging but recommended because of the significance of the problem. The fifth week we discuss childrens development and how children do not need lots of toys for them to thrive. These groups are very successful and the feedback I get from them is very positive. An additional part of my role is to run the two years development check. This is a free screening service for children that are between two and two-and-half. I run these from a childrens centre with nine children screened twice weekly. These development checks are to determine whether the children have any trouble with their speech and language and to give advice to aid and guide speech. AI also invite them to a local drop in speech and language services. In addition, I look to see if the children have play and cognitive skills issues. We carry out some small tests to see if they are up to their age-related peers. We also test their fine and gross motor skills. This is done by carrying out small tests with the children. We also do their height and weight and plot in their red books (Child Health books). We check that the children are not overweight and not underweight and advise according Oto the government standard of which I was training by Middlesex University Institute of Nursin g and Midwifery. Another part of my role is to liaise with the health visitors on such delicate issues as children protection issues, and how to look after children and special needs children. I have also