Human Resources Empolyee Retention Essays - 1109 Words

One of the significant functions, and probably the one that most people first consider when they think of human resources is the function of hiring employees for an organization. The demand for additional employees can be a result of expansion within the organization or from turnover. The hope for any human resource department is that the reason for additional employees is a result of expansion and not because of involuntary or voluntary turnover. Involuntary turnover is the termination of employees from the organization whose services are no longer needed or desired. When termination of an employee occurs, it â€Å"represents a failure of some part of the HR system† (DeNisi Griffin, 2011, p. 129). It is unfortunate but even with the best†¦show more content†¦All possible help should be given to an employee that can be motivated into a change for the better. Retaining a valued employee in the organization can be just as challenging as motivating or retraining a poorly performing employee. Perhaps the main reason for a valued and desired employee to consider leaving their employee is due to dissatisfaction. In part, it is the responsibility of the human resource department to ensure that employees feel a certain level of satisfaction in their jobs. Job dissatisfaction can be a result of varying factors. Individual that do not feel that their contributions are of value or that their work is mundane and not challenging can experience dissatisfaction. Salary, benefits, work flexibility and scheduling can be factors for many employees, as well as strained relationships between coworkers and supervisors. Assessing employee satisfaction is essential to avoid valuable employees looking for employment elsewhere in hopes of satisfying a need that is not being met. The key to retention is being responsive to the needs of employees. Talking witho ut action is ineffective in retention. Determining the needs and valued benefits for employees can be in the form of surveys or one on one interviews, but the only way to have honest and effectiveShow MoreRelatedEmployee Retention Techniques7787 Words   |  32 PagesChapter - i INTRODUCTION OF THE STUDY 1 CHAPTER I INTRODUCTION OF THE STUDY 1. Introduction The project work titled, â€Å"A Study on Employee Retention Techniques among employes in Salem District Milk Producers Union Limited†. The main objective of this study is to evaluate the employee turnover level of the company. Employee is not an economic factor but a total personality having his own feelings and a sense of responsibilities

The 60s (Movie) - 2091 Words

April 4, 2005 The 60s When deciding what movie to do for this particular paper I faced a few issues. I knew what the requirements were, but I wanted something different and something I could have fun watching and writing as well. So, after looking around and pondering movies for weeks I finally decided on a perfect choice The 60s directed by Mark Piznarski? This movie is a wonderful production starting from 1960 and ending in 1969 covering all the different things that occurred during this unbelievable decade. The movie takes place in many different areas starring two main families; a very suburban, white family who were excepting of blacks, and a very positive black family trying to push black rights in Mississippi. The movie†¦show more content†¦After months of marches they seemed to be getting places and having social parties with blacks and whites. This is where the two teenage boys met and hit it off real well. Another thing that brought the people together at this time was the music. This was a big part at the party, James Brown was playing and the most whites hadnt heard this music but it turned out to be stuff they really enjoyed, and if you can like a black mans music why cant you like a black man? After the marches in Birmingham the black familys church was burnt down and they decided to take their work and news of God to Los Angeles California. During all these personal sufferings the country faced some real hardships when in November of 1963 their wonderful president, JFK was assassinated. The country seemed to go a little crazy and was defiantly in shock and couldnt understand. As the country as a whole suffered, young 16 year old Katie was personally suffering a little more. At such a young age she found out she was pregnant and knew this wouldnt go over so well with her father in which she couldnt have been more right, so she ended up running away to San Francisco to live with all her hippie friends. At this time the country was making drastic changes in music, and things were progressing in which it seemed for the better. Although there was a lot of drugs and plenty of pot smoking going on at this time the world seemed to be happy and at peace excluding thoseShow MoreRelatedMusics Role in Film970 Words   |  4 PagesMusic’s Role in Film Music played during a movie and the soundtracks that go along with the movie play a significant role as the mood settles for the movie. If one is watching a scary movie, then a slower, creepier tone is appropriate, but if one is watching an action movie, then a fast paced song is better suited for the scene. In a sense, the soundtrack is what gives the movie its existence. Soundtracks must fit the movie perfectly, and in some cases people remember a certain song before an importantRead MoreThe Wayfarer, A Technical Revolution894 Words   |  4 PagesThe wayfarer was made populair in 50s by hollywood celeberty James dean. With this icon wearing the wayfarer, the Ray-ban brand *defenitief* made the change to a lifestyle-brand. the 50s were known to colourless and boring, the youth culture started to rebel against society and there parents. The mirroring glasses gave people the ability to hide there eyes behind there glasses. Which broke the ideal of innocence and openness which the 5 0s were known for. A movie released in 1955 called Rebels withoutRead MoreHow The Silver Screen Affects Women s Fashion Trends?1495 Words   |  6 PagesHistory? Silver screen has the capacity to make not just a star of its leading women, but a fashion icon too. From Audrey Hepburn and Grace Kelly to Julia Roberts and Keira Knightley, via Mia Farrow and Catherine Deneuve, some of Hollywood s most successful stars owe a lot to their on-screen style. Moreover, during the 21st century, movies have been a powerful media in which to influence people’s style.   Movies gave society a great way to see vintage fashion, including how to wear periodRead MoreAfrican Americans And Film And Television Production1621 Words   |  7 Pagesthe entire race. In the 1960’s African American Actors were growing in the industry although bound by racial barriers. Television shows and films were commonly known for White Americans.Television shows such as â€Å"The Andy Griffith Show†,† I Dream of Jeanie† and â€Å"Bewitched†, were predominantly â€Å"white television shows. These television shows related to the white society which were aired in a ironically important time period in African American history. During the 60’s the civil rights movement wasRead MoreHollywood Movies And Fashion Essay1405 Words   |  6 PagesSilver screen has the capacity to make not just a star of its leading women, but a fashion icon too. From Audrey Hepburn and Grace Kelly to Julia Roberts and Keira Knightley, via Mia Farrow and Catherine Deneuve, some of Hollywood s most successful stars owe a lot to their on-screen style. Moreover, during the 21st century, movies have been a powerful media in which to influence peopleâ €™s style.   Movies gave society a great way to see vintage fashion, including how to wear period accessories thatRead MoreWhat role do audiences play Essay610 Words   |  3 PagesAmerica Since 1945 What role do audiences play in creating popular culture? Explain how Hollywood both manipulated and reflected the popular culture of the 1950s and 60s. The role of the audience is to infuse the fire in the popular culture movement. It appears that Hollywood was caught between the wall and the blade in the 1950’s, on one side you had the dominant culture flexing their muscle to have Hollywood endorse this family ideal and help the containment effort and for no reason igniteRead MoreThe Great Man Approach During The Mid 1800 S1141 Words   |  5 PagesWhile most agree that the Great Man Approach was most active beginning in the mid-1800’s through the early 1900’s, (Komives, 1998, p.58) it is the opinion of this author that this approach has played an active role since the beginning of time. Take into consideration King Melchizedek in Genesis 14. The Great Man was still selected either by lineage or military success. The same theme rings true throughout the Bible, including but not limited to Saul and David in Samuel, the priests throughout theRead MoreThe War Between The Soviet Union And The United States1205 Wo rds   |  5 Pageseveryone, today’s video topic will be about Dr. Strangelove https://www.movieposter.com/posters/archive/main/115/MPW-57765 and how it relates to the culture during the 1960s. Although the film directed by Stanley Kubrick in 1964 is a political satire movie, it represented the tension between the Soviet Union and the United States perfectly. The Cold War between the two countries lasted between 1947 to 1991, and peaked during the 1960s. The strategy for America was to contain the communism in the SovietRead MoreHollywood Is Like A Battle1094 Words   |  5 PagesWhite Actress, told Associated Press that competition for roles in Hollywood is like a battle. Even with her roles beside many top tier actors and actresses, she believes that It s a struggle. You got to win roles. You really got to fight for them. When I left Asia and went to the U.S., essentially I was starting over. It s very hard...The first part of it is going into a room (for an audition) and trying to quell this stigma that people have about Asians only doing certain kinds of roles and AsiansRead More8K High Resolution Camera System1436 Words   |  6 Pagesdistributing digital cinema contents in packet data form, and are also used to support new services such as the live streaming of musicals and sport games to movie theaters. While current transfer services offer high-definition (HD) quality video, live-streaming applications will soon shift to providing cinema quality 8K content to both business and movie theaters users. The extra- high-quality 8K format enables a realistic telepresence, and will be combined with special tools such as video editing systems

Sustainability Of Harvey Norman Holdings Limited †Free Samples

Question: Discuss about the Sustainability Of Harvey Norman Holdings Limited. Answer: Harvey Norman Holdings Limited Harvey Norman Holdings Limited is one of the largest retailer firms of Australia dealing mainly in furniture. It primarily operates in franchises in Australia but the main store is handled by Harvey Norman Holdings Limited. The company is founded by Gerry Harvey and Ian Norman and is headed by Katie Page (chief operating officer) (Baghai, Everingham and White 2000). CVP Analysis CVP or cost volume profit analysis refers to the analysis that revolves around the breakeven point of cost and volume of goods that is determined and provides huge help to managers in taking management decisions or any other decision related to business economics. CVP is mainly concerned with the impact that different scales of production and sales levels would have on operating profit. In case of Harvey Norman Holdings Limited the impact different domains of operating activities would have on operating income is that, the contribution by the company towards the community sector accounts for a total of 43% compared to other companies. Now community in accounting terms refers to the national, global and local area where the company operates (CSRHub - Sustainability and Corporate Social Responsiblity (CSR) ratings on over 17,487 of the worlds largest public and private companies., 2017). The next sectors that lead to an impact on the operating profit of the organization are the employees or the employee sector. It is concerned with the welfare of the workers or employees in terms of salaries or wages, compensation or benefits, required training related to skills and safety. The cost incurred on the expenditure related to the employee sector has an impact on operating profit for 42%. The third and most important sector that leads to operating profit is environment. Environment refers to the surroundings in which the company works and the natural resources that the company uses. The extent by which it affects the operating income is 51%. Ethical issues During the period of employment in Harvey Norman Holdings Limited an employee may work you and in turn create items which must be secured by intellectual property laws, like the laws that claim to protect or protect patents, copyright and trade marks, designs. Therefore an employee of Harvey Norman all kinds of intellectual properties rights made inside the boundary of work will very naturally be possessed by Harvey the organizational entity. Other ethical standards of the company lie in the policies and regulations of the company like anti-discrimination and anti-harassment policies. Harvey Norman Holdings Limited has high ethical standards to resolve any kind of ethical issues like equal employment policy, equal treatment of all employee policy (Van Der Laan and Dean 2010). Sustainability issues Sustainability issues in general refer to the issues that are faced by a particular organization in achieving or maintaining its sustainability goals. Harvey Norman Holdings Limited deals in furniture, consumer products in the domain of electrical goods and computers. The company uses a lot of cardboard which if not recycled will affect the environment and also have an impact on the operating profit of the organization. Similarly the company takes enough initiatives to solve these kinds of sustainability issues like it reduces the use of plastic bags, recycles the white goods and reuse the wooden pallet (CSRHub - Sustainability and Corporate Social Responsiblity (CSR) ratings on over 17,487 of the worlds largest public and private companies., 2017). Referenes Baghai, M.A., Everingham, B. and White, D., 2000. Growth down under. The Mckinsey Quarterly, pp.12-12. CSRHub - Sustainability and Corporate Social Responsiblity (CSR) ratings on over 17,487 of the worlds largest public and private companies. (2017). CSR information for Harvey Norman Holdings. [online] Available at: https://www.csrhub.com/CSR_and_sustainability_information/Harvey-Norman-Holdings [Accessed 11 Sep. 2017]. CSRHub - Sustainability and Corporate Social Responsiblity (CSR) ratings on over 17,487 of the worlds largest public and private companies. (2017). CSR information for Harvey Norman Holdings. [online] Available at: https://www.csrhub.com/CSR_and_sustainability_information/Harvey-Norman-Holdings [Accessed 11 Sep. 2017]. Van Der Laan, S. and Dean, G., 2010. Corporate groups in Australia: State of play. Australian Accounting Review, 20(2), pp.121-133.

Cheetah Essay In English Example For Students

Cheetah Essay In English For my vertebrate animal I chose the Cheetah. The Cheetahor Acinonyx Jubatus is an endangered species. They wereonce found throughout Africa and Asia, but are now onlyscattered throughout Eastern Africa and a small region ofSouthwestern Africa. Cheetahs are threatened by increasingloss of habitat, decline in prey, and increased poaching forfur trade. The Cheetah has a tawny coarse coat with roundblack spots or tear stripes from the corner of the eyesdown to the sides of the nose. They are slender and longlegged, and their claws are non-retractable. They also havesmall heads with high set eyes and small ears. Cheetahsaverage 44 to 53 inches in length, with an additional taillength of 26 to 33 inches. The Cheetahs average weight is86 to 143 pounds. Male Cheetahs are slightly larger thanfemales. The Cheetahs flexible spine, oversized liver,enlarged heart, slender muscular body, and unique clawsmake it the swiftest hunter in Africa, and the fastest animalon land. A Cheetah can reach speeds of up to 60 mph. Inthe grassy plains and dense bush females live alone, exceptwhen raising cubs. Males live alone or with a small group ofbrothers from the same litter. Cheetahs hunt in late morningand early evening. They stalk their prey first, until they arewithin 40 to 90 feet before the chase begins. Chases lastfrom twenty seconds to one minute, and only about half aresuccessful. If the Cheetah does catch its prey it suffocates itby biting it underneath the throat. Then the carcass isdragged of to a safe place to be eaten. Cheetahs prey onanimals such as Gazelles, Wildebeest calves, impala, andother hoofed animals weighing up to 88 pounds. A Cheetahssexual maturity is reached in about 20 to 23 months. Matingcan occur any time of year. Gestation lasts 91 to 95 days. Litter size can be 1 to 8 cubs, but the average is 3. Cubs aresmokey gray in color with long wooly hair running along theirbacks. Cubs are moved around from one hiding place toanother every few days so they are not found by otheranimals. One third of cubs survive to adulthood. Cubs staywith their mother for approximately one year. Cheetahs liveup to 12 years in captivity, and it is unknown how long theysurvive in the wild.

Beck Depression Inventory free essay sample

Aaron T. Beck, a pioneer in cognitive therapy, designed his first Depression Inventory often known as BDI in 1961. Beck originally developed BDI to detect, assess and monitor changes in depressive symptoms among people in a mental health care setting as well as in a primary care setting (Beck, Ward, Mendel son, Mock, Erbaugh, 1961). In 1996 Beck developed a second version of the inventory (BID-II) to reflect revisions in the Fourth Edition of the Diagnostic and Statistical Manual of Mental Disorders, DSM-IV-TR, a handbook use by mental health professionals to diagnose mental disorders (Beck, 1996). Beck designed BID and the revision of BID-II as a 21 item standard personality multiple-choice questionnaire test that can be administered in ten minutes to groups or individuals within the population of 13 years old and above to evaluate their mental state and measure the severity of their depression (Beck , Steer, Brown, 1996). BDI-II is a self –reported analysis of depressive symptoms, the wording of the BDI-II is clear and to the point. We will write a custom essay sample on Beck Depression Inventory or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The instruction for administrating and scoring the BDI-II is clearly stated and easy to follow requiring minimal training on the behalf of the administrator. However, scoring does require a clinical professional to analyze the severity of the depression (Beck, 1996). According to Beck (1996) 8 questions are related to emotional factors and the remaining 13 questions are pertinent to physiological factors. Beck states that â€Å"The emotional scale addresses symptoms like self-hatred, guilt feelings, suicidal wishes, sense of despair, fear of failure, and hopelessness, while the physical scale deals with symptoms like difficulty in concentrating, lack of energy, tendency to cry, sorrowfulness, loss of temper, and absence of appetite† (Beck, 1996). The BID-II is scored by summing the highest rating for each of the 21 item. Each item is then rated on a 4- point scale, ranging from 0 to 3, and the total score range from 0 to 63. The score ranging from 0 to 13 represent â€Å"minimal† depression; total score ranging from 14 to 19 represent â€Å"mild† depression while total scores from 20-28 are â€Å"moderate† and total scores from 29-63 are â€Å"severe† (Beck, 1996). In 1996, Beck provided evidence that the BDI-II possesses adequate evidence of reliability. By measuring two normative clinical population the first test sample population consisted of 500 men and women (n=500) taken from four different outpatient clinic throughout the eastern part of the U. S. The population included; 63% female, and 37% men, with an ethnic make -up of 91% White, 4% African American, and 4% Asian American, and 1% Hispanic. The comparative test was a convenience sample of 120 Canadian college students (n = 120). 6% of the sample were women; described as â€Å"predominantly White†. The average ages of the clinical and student samples were, respectively, 37. 2 (SD = 15. 91; range = 13-86) and 19. 58 (SD = 1. 84) (Beck, 1996). The outpatient clinical population yielded a coefficient alpha of . 92 (n=500) and the coefficient alpha for the college students (n=120) was. 93. According to Beck (1996) both exceeded the coefficient alphas original set for the BDI in 1961. Test-retest reliability was studied using the responses of 26 outpatients who were tested at first and second therapy sessions one week apart. There was a correlation of . 93, which was significant at p . 001 level (Beck, 1996). The major objective of the BDI-II is to have the test and result conform more accurately to the diagnostic criteria listed in the DSM-IV for depression. Items were added, removed and reworded to make the test more specified thus increasing the content validity of the measure. With regard to construct validity, Beck (1996) tested the convergent validity of the BDI-II by administrating the test to college sample of 127 students which yielded a 93% true positive rate and 18% false positive rate (Beck, 1996) and then compared the correlated result with other psychological tests such as the â€Å"Scale for Suicide Ideation (r=. 37 n= 158), the Scale for Suicide Ideation (r = . 37, n = 158), Beck Hopelessness Scale (r =. 68, n =158), Hamilton Psychiatric Rating Scale for Depression (r=. 71, n = 87) and the Hamilton Rating Scale for Anxiety (r = . 47, n = 87). The BDI-II yielded a correlation of . 93 (p

buy custom Malignant Hypertension essay

buy custom Malignant Hypertension essay Introduction Various forms of hypertension, also referred to as high blood pressure, or simply HBP, are today experiences across all nations around the globe. Some hypertensions are mild while other are fatal and can cause death as a result of stroke, body organs failures or congestion of blood in the body vessels. Definition of Malignant Hypertension This is a type of high blood pressure that attacks an individual suddenly and acutely. In malignant hypertension, the lower blood pressure (diastolic) reading is usually as high as above 150 mmHg and the systolic level goes beyond 200 mmHg. Malignant hypertension is also called arteriolar nephrosclerosis or accelerated hypertension. It is a syndrome characterized by severe hypertension due to sudden increase in the baseline blood pressure (BP). It usually affects the central nervous system (CNS), the renal system and the cardiovascular system, and results into permanent damage to affected body organs. Occurrence of malignant hypertension also results into destruction of the red blood cells as they flow vessels blocked by fibrin deposition (Gudbrandsson, 1981). This sudden increase in blood pressure often becomes a threat to the life of the patient. Causes of Malignant Hypertension Malignant hypertension is common in persons with history of high blood pressure, especially children and young adults. It may also occur in people with collagen vascular disorders, kidney problems and pregnant women suffering from toxemia or complications of pregnancy. The risk of attack increases in persons who have once suffered from kidney failure and renal hypertension as a result of renal artery stenosis. It is believed that malignant hypertension may be caused by monoamine oxidase Inhibitors (MAOIs) and some oral contraceptives used in birth control (Hilme, 1993). Symptoms Different patients show different symptoms for malignant hypertension. However, the major symptoms include blurred vision, body fatigue insomnia, restlessness, unconsciousness and various changes in mental status such as angst, confusion and lack of proper concentration. Some patients may also suffer from chest pains, mild coughs, severe headaches and nausea. In cases where the kidney is affected, reduction in urination is experienced. Similarly, there may be attack of certain body organs such as the kidney. Some people have been reported to have difficulties in breathing and general body weakness, especially at the legs and arms. Diagnosis and Examination Malignant hypertension is an emergency attack. Diagnosis of malignant hypertension thus includes physical examinations such as determination of blood pressure, identification of body swellings especially in the lower feet, assessing the presence of fluid in the lungs and any abnormal heartbeat rates. According to Lip and Nadar, malignant hypertension usually affects the functionality of the brain and thus the physician must verify any symptom of change in thinking, reflexes, and/or sensation (Lip Nadar, 2009). Through medical observations and examination of the patients eyes, it is possible to identify presence of retinal bleeding, optic nerve swelling as well as possibility of narrowed blood vessels. These indicate presence of high blood pressure. When a patient is attacked by malignant hypertension, he or she is likely to develop kidney failure. The physician can thus perform Urinalysis or Blood Urine Nitrogen (BUN) tests to identify possible damages to the kidneys. Additionally, an X-Ray of the chest may be carried out to examine if the lungs and the heart are affected. Treatment Due to its severity, malignant hypertension requires urgent assessment and treatment. A patient may be required to be hospitalized for a period of more than one month until the high blood pressure is put under control. During treatment and medication, drugs that regulate high blood pressure are usually administered through the veins, for example, Nitroprusside Dilator and Fenoldopam which increase blood in the renal vessels. Kaplan and Victor suggest that in case fluids are found in the lungss, then diuretics are performed. Diuretics help the body in removing excess fluids form the lungs (Kaplan Victor, 2009). Moreover, it is recommended that patients should use drugs that protect the heart from further destruction if damages to the heart were diagnosed. Drugs that help to stop internal bleeding of the retinas are also given to the patient. The choice of drugs used in treatment of malignant hypertension varies depending on the health status of the patients, severity of attack, lack of difficulty in administration and possibility of development of side effects. Prognosis of Malignant Hypertension Malignant hypertension exposes various body systems at increased risks due to increased blood pressure. Certain vital organs of the body such as the kidneys, heart and brain may be destroyed. Malignant hypertension also puts the eyes and blood vessels at risks. In extreme cases, permanent kidney failure may occur, a condition which may force the patient to undergo dialysis. Hilme warns that malignant hypertension requires early diagnosis and treatment to reduce such life-threatening complications (Hilme, 1993). Possible Complications of Malignant Hypertension The major complications observed in many patients of malignant hypertension are damages to the brain and the heart, kidney failure and pulmonary edema, that is, presence of fluids in the lungs. The patient may experience angina. Gudbrandsson defines angina as chest pain that result from narrowed blood vessel. Retinal destruction may also lead to permanent blindness (Gudbrandsson, 1981). Conclusion It is important to seek medical attention whenever a patient experiences sudden increase in blood pressure or shows symptoms of malignant hypertension. Appropriate action should be taken to save the patient from this deadly disease.It is advisable for people to practice healthy lifestyles such doing exercises regularly, taking healthy diets with low levels of salt, fat and cholesterols, and taking medications that monitor ones blood pressure. Buy custom Malignant Hypertension essay

Research method of business Essay Example | Topics and Well Written Essays - 2750 words

Research method of business - Essay Example To demonstrate credential towards its stakeholders (society, consumers, and investors), that is concerned about ethical and environmental issues. Ongore & K’Obonoye (2011) defines corporate social responsibility as, ‘the idea of triple bottom line –people, planet and profit which aims to evaluate the social, environmental and financial performance of business enterprise (Ongore & KObonoye, 2011)’. The idea emphasizes that the organizations should not be focused to maximize its profit but also act responsibly towards environment and society. The increasing advancement in the social media has amplified the consumer to raise concerns regarding business practices of an organization. It has increase accountability of the organization toward society, consumers and stakeholder by undertaking ethical and environmental practices in its operations. However, Corporate Social Responsibilities remains to be debatable phenomena with respect to competitiveness, sustainabi lity, and globalization. Until now no particular definition for Corporate Social Responsibility is prose. Some of the researchers claim that CSR is the combination of approach towards social performance, social responsiveness, corporate governance, sustainable development, etc. However, the organization inclined to attain sustainable business practices to improve its positioning in the market for a longer period. Corporate Social responsibility is becoming and important phenomena for the business entities to benefit its stakeholders nu involving in social and environmental activities. Also, it is also argued that the CSR activities allow improving product quality, attaining customer loyalty and service quality. Corporate Social Responsibility associated with the internal production, distribution regulation, employment, and environmental protection/regulation and wages level. A report highlights that the retail sector accounts for one fifth of nonfinancial business enterprises in European Union

Aviation Research Paper Example | Topics and Well Written Essays - 4000 words

Aviation - Research Paper Example This way, the business transactions between consumers and the company are monitored in order to help in the company’s revenue management. The company in question also needs to base on other external information including information about prices of the company’s competitors in the market, the season in the market, as well as the consumers buying patterns. Basically, yield or revenue management involves decision-making, as the company attempts to figure out and make decisions regarding the kind of services to be sold, at what time to sell them, and at what price to sell them at, which would ensure that the company rips maximum profits (Coombs, Hobbs & Jenkins, 2005). Yield management is therefore, an integral part of management accounting, as it involves financial control in a company, as well has financial consequences on a company. The decisions made in the process of revenue or yield management in a company are instrumental in helping a company settle for specific prices for its services, which will be in alignment with the demand in the market. This is with regard to ensuring that consumer needs are met, while at the same time ensuring maximization of profits for the company (Sani, 2011). There are various aspects in the company and in the external environment, which help the company make viable decisions in the process of yield management, especially with regard to the determination of prices for the services offered by the company. Such aspects include the type of services offered by the company. Depending on the nature and quality of the services a company offers, the management are in a position to make decisions, regarding the price they will fix for each type of service. In addition, the market type is also of essence in helping a company make decisions concerning service pricing. If the market is domi nated by middle income-earners, it is more likely that a company will make service-pricing decisions based on the income or

Three important lessons (PLato's Apology) Essay Example | Topics and Well Written Essays - 500 words

Three important lessons (PLato's Apology) - Essay Example In truth, Socrates was imparting a lesson that was central to his work and to his beliefs. His apology was a lecture on the triumph of knowledge over ignorance and he was beseeching his listeners to discard old and traditional beliefs and embrace modern intellectual development. The background of the Apology is that Socrates is being charged with the corruption of the youth and disrespect towards the Gods. He begins by saying that â€Å"The task is not an easy one; I quite understand the nature of it. And so leaving the event with God, in obedience to the law I will now make my defence.† (Plato, quoted in Biffle, 34) He confronts his accuser Meletus and demonstrates exactly why and how the charges against him are false. However, despite his use of logic to defend himself, he is still found guilty and sentenced to die. It is clear throughout the text that Socrates wants to emphasize that he will counter his accuser’s lies and accusations with wisdom. This is the first lesson: the importance of wisdom. He also wishes to emphasize that it is his wisdom and knowledge that make him persecuted, but this wisdom and knowledge will be of much use to the city of Athens. Therefore, instead of using pathos, or arousing pity, he was appealing to the logic of the crowd. Instead of beseeching the people to spare his life, he reasoned with them – making logical and coherent arguments with the end in view of convincing them that they would be better off with him alive than with him dead. To quote: For if you kill me you will not easily find a successor to me, who, if I may use such a ludicrous figure of speech, am a sort of gadfly, given to the state by God; and the state is a great and noble steed who is tardy in his motions owing to his very size, and requires to be stirred into life. I am that gadfly which God has attached to the state, and all day long and in all places am always fastening upon you, arousing and persuading

Financial Fraud Case Study: Stephen Richards

Financial Fraud Case Study: Stephen Richards Table of Contents Executive summary Problem Statement Company overview Case Analysis Questions A letter from prison Executive summary This case study is about the former global head of sales Stephen Richards at the Computer Associates, Inc. (CA), who is serving a seven year prison sentence for financial fraud. In addition to this, Stephen Richards responds to the number of the questions asked by the Eurenge Soltes about the responsibilities of the managers as well as the handling of the financial activities in a letter written to a graduate student. Moreover, Stephen Richards joined the Computer Associates, Inc. (CA) in the year 1988 immediately after graduating. He has achieved continuous promotions in the company throughout his time period in the Computer Associates. As, Stephen Richards gets prompted within two years’ time period after his joining to operate New Zealand’s and then promoted to the Australian site of the company. Stephen Richards becomes the vice president of the Pacific region and is a leading regional figure for the Computer Associates, Inc. (CA). The company has acquired various competitors as well as firms that are producing complementary software products during the time duration between 1980s and 1990s.In addition to this, the company has around 18,000 employees and subsidiaries in approximately in 100 countries in the late 1990s. The company recorded its NPVof the licensing contract in the quarter when the revenue recognition criteria are met in accordance with the GAAP regulations. Problem Statement Computer Associates International, Inc. (CA) is currently facing the problems related to the financial fraud allegations against the company.As, the company finds it more difficult to accurately forecast the revenues as well as earrings for each quarter of their sales targets. Company overview Computer Associates International, Inc. (CA) is founded by the Charles Wang in the year 1976 in order to meet the growing needs of the mainframe computing software for IBM computers. Moreover, the company offers a variety of products that include database, application and financial management software in order to meet the computing necessities of the businesses. The most of the software products are sold by the sales team of the Computer Associates to the clients who buy a license to use the product for a period between three to ten years. Additionally, Computer Associates provides the software updates and technical support to its clients during the period of licensing. The fee of the licensing charged by the Computer Associates to the clients increases with the length of the contract as well as each additional licensing year was priced lower as compared to the previous year in order to reflect software oldness. The amount of the fee that is charged by the company to its clients could be amounted to hundreds of thousands of dollars. The Computer Associates distributes the revenues to licensing fees as well as to usage and maintenance fees once the contract of the license between the company and the client is finalized. Mostly the 80% of the revenue is allocated to the licensing fee. The significant part of the company revenue is normally booked during the final week of the quarter. During each quarter the management sets internal sales targets for the sales team with the sales incentives are given to the immune pressure to meet these sales targets. The company showed huge growth during the 1990s, even with the challenges and pressures. Case Analysis The case analyzes the overall situation of the Computer Associates International Inc. (CA) related to the allegation about the financial fraud within the company by a few executives of the Computer Associates. The management of the company found it hard to forecast accurate results for the revenues and earnings for each quarter in the year. As, before the end of the quarter, the management of the company found it incompetent to warn the specialists about the unexpected shortfalls in the revenue. Additionally, the various larger contracts resulted in the shortfall in the revenue of the company’s products as these contracts are those that are close on the final day of the quarter. Due to the decrease in the revenue of the Computer Associates affected the stock price of the company that reduced the Computer Associates stock by 42%. There is an allegation about the company that is published in an article in the New York Times, and according to this, Computer Associates have excessively implemented the approach of aggressive accounting practices in order to boost the earnings. But there are several evidence that proves that all the accounting practices of the company are according to the generally accepted accounting principles. This allegation also gets the attention of the federal investigators who showed dissatisfaction with the internal investigation of the company. Due to this allegation the company has faced much criticism that greatly impact the standing of the Computer Associates (CA) and requires other ways to make investigation done efficiently so, the company hire the prestigious law firm in order to investigate more aggressively. It is determined from the investigation that the few employees of the Computer Associates (CA) had backdated the some of the contracts as well as it also appeared that the revenues related to such contracts had been recognized after the end of the quarter. While, the revenues linked with these software contracts must be recognized in the in the quarter in which the contract has been signed. Therefore, the three executives of the company are forced to give the resignations due to this improper revenue recognition. In addition to this, six executives along with the Richard are caught to be involved in the financial fraud due to which Richard the SEC filed a formal complaint against the Richards and at the same time he resigned from the Computer Associates International Inc. Questions: How serious were Stephen Richards’ actions? Why? Stephen Richards’s actions were extremely serious; Richard in his letter writes that his self and the CEO exerted significant pressures on their team to meet the goals that they had set for themselves; also Richard mentions that performance was measured by internal goals Stephen Richard’s actions are notably serious because he had knowledge of the wrongdoings and he was in a position to report it, but he chose not to. Richards’ action together with other CA’s executives seriously victimized the shareholders as they suffered enormous losses once the practices were revealed. Therefore, â€Å"Richard was ordered to pay $29 million in restitution.† (Weidlich)  manipulating Computer Associates’ quarter end cutoff to align CA’s reported financial results with market expectations by violating the generally accepted accounting principles and their financial reporting responsibilities. According to the U.S. Securities and Exchange Commission, Richards with other CA executives extended CA’s fi scal quarter, â€Å" instructed and allowed subordinates to negotiate and obtain contracts after quarter end while knowing, or recklessly disregarding the fact that, CA would improperly recognize the revenue from those contracts, and failed to alert CA’s Finance or Sales Accounting Department that CA salespersons that reported to Richards were obtaining contracts with backdated signatures dates after quarter end.† (Release) in accordance with the expectation set by outside parties, analyst community, specifically to meet Wall Street quarterly per-share earnings estimates, â€Å"a key to keeping a company’s stock price rising.Richards with the CEO allegedly met routinely and conferred with each other and with (CFO) during the week following the end of fiscal periods, including during the â€Å"flash period†, the three business days after the end of fiscal quarter, to determine whether CA had generated sufficient revenue to meet the quarterly projections, and closed CA’s books only after they determined that CA had generated enough revenue to meet the quarterly projections, this practice, which was sometimes referred to within CA as the â€Å"35-day month† or the â€Å"three-day window†, violated GAAP and resulted in the filing of materially false financial statements. The goal of the 35-day month was to permit CA to report that it met or exceed its projected quarterly revenue and earnings when, in truth, it had not. (DOJ) Referring to the Scheme to Defraud, Richard instructed CA sales managers and salespeople to negotiate and finalize additional license agreements, which were backdated to cover the fact that the agreements had been finalized after the end of the fiscal quarter. At the end, these actions led to â€Å"overly aggressive accounting practices† to boost CA’s reported earnings and the managerial use of discretion to greatly influence reported earnings was not only used by Richards’, but it had become a company-wide practice. As Mark Director of the SEC’s Northeast Regional Office, said about CA’s fraud â€Å"Like a team that plays on after the final whistle has blown, Computer Associates kept scoring until it had all points needed to make every quarter look like a win.† (Wharton) As the result, CA fraudulently recorded and reported in the earlier quarter revenue associated with the backdated agreements. Stephen Richard’s actions are notably serious because he had knowledge of the wrongdoings and he was in a position to report it, but he chose not to. Richards’ action together with other CA’s executives seriously victimized the shareholders as they suffered enormous losses once the practices were revealed. Therefore, â€Å"Richard was ordered to pay $29 million in restitution.† (Weidlich) 2. If Computer Associates achieved the same financial results through GAAP flexibility, does your answer to question 1 change? No, with the flexibility of GAAP the risk of manipulation was that CA could have more likely made reporting mistake that would lead to legal problems and enormous losses. As long as the CA’s executives including Richards had the intention of wrongdoing actions they would cause massive losses to the shareholders of the company and to the SEC. Though such manipulations and fraud resulted CA to payback â€Å"$225 million for the purposes of compensating shareholders for losses arising out of the company’s criminal conduct.† (DOJ) Seeing that, the evidence and investigation on Computer Associates shows that the CA didn’t make false transaction and actual transaction and business deal had happened, but the problem of fraud was that CA’s executives were backdating the agreements in order to prematurely recognize revenue from contracts that had not yet been executed by both CA and its customers in violation of GAAP. Under Generally Accepted Accounting Principles (GAAP), four conditions were required to be met in order for revenue associated with a software license agreement to be recognized: 1- persuasive evidence of an arrangement was required to have existed, 2- delivery of the licensed products was required to have occurred, 3- the license fee was required to have been fixed or determinable, 4- the collectability of the license fee was required to have been probable. 3. Suppose you were placed in Stephen Richards’ position at computer Associates and were under pressure to extend the fiscal quarter. How would you handle the situation differently? What would be the expected consequences? I would not have extended the fiscal quarters of knowingly or encourage the backdating of agreements, regardless of the overwhelming pressures by the Wall Street estimates which Richard points to analyst community in his letter. CA regularly issued public predications at the outset of each fiscal quarter of the revenue and earnings it expected to earn during that quarter. Based on these predictions, professional stock analyst estimated what they believed would be CA’s total revenue during the period and predicted the earnings per share of CA stock. CA’s executives including Richards understood that CA’s failure to meet or exceed the consensus estimate for a quarter would likely result in a substantial decrease in the company’s stock price. (NY) I think too much emphasis was placed on the achieving financial gains improperly, for Richards and other members of management, without planning the proper ethical and legal strategy necessary to achieve CA’s goals for success. Performance measurement was a key level of concern in this case which alerted the key ingredients for financial statement fraud and fraud triangle. The sales managers and salespeople were used as enablers to negotiate and finalize additional license agreement while keeping the accounting books open after the end of the fiscal quarter. Richard also emphasizes on the â€Å"compensation is important, but the recognition of your performance is sometimes even more important. Actually, according to Richard in his email he writes that â€Å"we have created a performance driven culture without the necessary control framework for people to operate within† this shows that there was no real structure as far as milestones for growth. That is how CA pushed as much as to reach its goal of estimated earnings regardless of considering any rule or regulation type of culture attitude, which led CA to tragic results relating from poor decision making and lack of organizational structure and control. Instead CA could have placed better accounting controls to recognize and issued realistic and accurate public predications at the outset of each fiscal quarter of the revenue and earnings it expected to earn during that quarter, this way they would have not faced the legal troubles that they led themselves to. Even in such a situation for a healthy company to minimize the risk of this downward slide is encouraging and protecting whistleblowers. That way, problems ar e addressed internally- well before they become big enough to drag the entire company over the cliff.

Bill Gates :: essays research papers fc

Bill Gates went from an upper middle-class family to the one of the richest men in the world; who owns the largest software company, Microsoft. Neither Bill, nor Microsoft have reached their peak, but many events helped to lead them to where they are today. In the beginning, Bill Gates, a skinny, shy awkward boy born on October 28, 1955 to Mary and William Gates. As a teenager, Bill seemed an unlikely successor to his overachieving parents. His father, an attorney and his mother a teacher, University of Washington regent, and chairwoman of the United Way placed him in Lakeside. This is a very elite private school. It was there, that Bill was first introduced to computers. The following year, he wrote his first computer program, then a scheduling program for the school - which coincidentally placed him and his best friend, Paul Allen, in the same classes as the prettiest girls in the school. Bill was accepted to Harvard University in the fall of 1973. Bill did not willingly venture to parties as most college students do, unless dragged there by his friend Steve Ballmer, whom he later repaid by naming him president of Microsoft. He slacked off a bit always trying to get the highest grades by putting in the least amount of energy. In his second year he dropped out, he and Paul Allen founded a company called Traf-O-Data, which analyzed city traffic data. Though a good idea, there was not much need for it. After reading an article in Popular Mechanics, Gates and Allen contacted M.I.T.S. in regards to providing software for the new computer Altair 8800. They were soon contracted for programming languages and moved to New Mexico and started Micro-soft (the hyphen would later be dropped). Soon IBM contacted the two asking for an operating system for their first personal computer. Bill told them he would be happy to make an operating system, although that’s not exactly wh at he did. Gates purchased a system QDOS (Quick and Dirty Operating System) for $50,000 from another company, changed the named to MS-DOS and sold it to IBM. So on the contrary to public opinion, Bill Gates did not write MS-DOS, he bought it, changed it slightly, and put his name on it. In order for Microsoft to get to the top, they had to have a very good business strategy. Their strategy is to sell software at low prices, until people are hooked.

Is the Emphasis on a Color-Blind Society an Answer to Racism

Racism is a word that sparks a nerve in many individuals today. As hard as it is to believe, racism is still a big factor in what we as a society know as a unified America. Although, it is not as obvious as it was in the past, it still goes on, just in ways that are less noticeable. We ask the question, is the emphasis on a color-blind society an answer to racism. Ward Connerly claims it is a way to stop the segregation and make America a whole as it has been striving to be for the longest. Eduardo Bonilla-Silva believes color-blind racism is the new racial ideology and still brings about racial inequality. As the solution to the question progresses, we ask ourselves, will a color-blind society change the way whites view blacks and minorities? Will it change the discrimination that is brought about everyday from individualistic opinions? Those that say they are not biased against other races are the main ones that are judgmental to how certain ethnicities act. Regardless of a color-blind society, there is still going to be racial inequality. Color-blind racism is basically racism that acts as if color doesn’t matter, when in actuality, it really does. Whites believe that if they use color-blind racism, they aren’t racist. They bypass the word â€Å"black† and use other words to substitute it for. They bypass the word â€Å"race† and instead use words such as â€Å"ethnicity,† â€Å"culture† or â€Å"background† to make their statements not sound so harsh. Despite the fact that they believe they may not sound prejudiced at the time that does not stop them from thinking it. As Eduardo Bonilla-Silva believes, color-blind racism may not be as crude as the Jim Crow era, but it resembles it in a more minor way. For example, whites will vote for a black man for President of the United States, but they still look down on the black society, most likely hoping that the â€Å"black President† will help those stereotypes. Ward Connerly attended the American River Junior College and earned a Bachelor of Arts Degree in political science with honors at Sacramento State College. He is the founder of the American Civil Rights Institute and an outspoken supporter of equal opportunities for all Americans. He expressed his views on racism by discussing an encounter he had with a woman. While explaining his desire to succeed at having a color-blind government, the woman commented by replying what he was doing was going to be best for his people. Although, she may not have realized her remark offended him, situations similar to that occur all the time especially with blacks and minorities. Persons may do it without the intention to insult, but that just proves that everyone is viewed more so by color than by characteristics and personality. Many minorities will always be judged by their color because whites believe that they will never have higher power. Even though Ward Connerly went through rough obstacles growing up involving race, rather than focusing on the bad experiences he had, he claimed that if you â€Å"take people at face value and give them an opportunity, race is irrelevant. † He supports the emphasis on a color-blind society so people won’t use discrimination based on the color of one’s skin. He used examples such as classifications and how there was no need to classify people by race. After the Civil War, with having separation for bathrooms, poll taxes and water fountains, distinguishing differences between people should have been stopped. He decided to place the Racial Privacy Initiative in California, to prevent governments from categorizing individuals by race, color, ethnicity and origin. That may help to some degree, but there’s still going to be physical appearances by all people and no one is going to worry about classifications, because whites are still going to have their assumptions about blacks, even if they don’t completely say so. Eduardo Bonilla-Silva received his Ph. D. from the University of Wisconsin. He has authored two books called White Supremacy and Racism in the Post-Civil Rights Era and Racism without Racists. He currently teaches sociology at Duke University focusing on race relations. Professor Bonilla-Silva proved his points with adequate examples shown in daily life. He uses the theory that blacks and most minorities are â€Å"at the bottom of the well. † He brought up that steering highly successful and educated blacks towards the poor, less paying jobs in the worst conditions are ways to keep minorities away from the upscale white society. According to Bonilla-Silva, the U. S. has scarcely moved beyond the era of segregation. He argues that all whites today rely more on cultural rather than biological analogies to explain blacks’ position in this country. I concur with his support because he has more supporting evidence than Connerly. Based on his interpretations, I’ve come to the conclusion that whites do come up with explanations to prove that they are so-called non-racial but as Bonilla-Silva said, â€Å"regardless of whites’ sincere fictions, racial consideration shade almost everything in America and black and dark skinned minorities lag behind in every area of social life. † An emphasis on a color-blind society is not the answer to racism. It’s just an excuse for whites to say that racism is not part of everyday life; that it simply just doesn’t exist. Ward Connerly had good claims, but his evidence did not support his conclusion enough to make me feel this topic would change the state of race in the U. S. Him describing his encounter made me feel that racism was never going to cease or for that matter, get better. Eduardo Bonilla-Silva brought out great support. By reviewing his examples and opinions, it is true that color-blindness is a front. Most whites will always have animosity towards those that don’t â€Å"resemble them. † Both authors did focus on the matter of race and how it is seen in the country. Race is seen differently throughout all individuals. Some find it just a word that has no meaning and is only involved with the past, but others find it an exaggeration of the word hatred. A word that brings out the worst in people’s personalities. Regardless of how much emphasis is even involved in having a color-blind society, racism still and always will exist.

The fox essays

The fox essays This paper aims at analyzing the short novel The Fox written by David Herbert Lawrence. The point from the short novel that will be analyzed is concerning Henrys will of marrying March. The two hypotheses formulated are: Henry was interested in the farm and in Marchs capture, like a hunter on an animal. The main goal in this analysis is to confirm which hypothesis best portrays the authors idea. The short novel The Fox portrays the lives of two friends, March and Bandford, as they were called. They lived on a farm by themselves in a peaceful way. Bandford had a weak health, so March did everything at the farm and also took care of her. Henry, (a soldier) arrived at the farm looking for his grandfather, but he had died. So, he stayed in the farm with the girls. As the time passed, Henry decided to marry March, but Bandford was against it. At the end, Banford died and March married him. David Herbert Lawrence was born on 11 September 1885 in Nottinghamshire, England. He wrote about the fulfilled relationships of men and women, and the crucial relationship between human beings and the natural world. He lived on a farm with his family. His main works were Women in love, The Rainbow and others. He wrote The Fox during the I World War in 1918. (Source?) The short novel tells about two friends, March and Bandford that lived alone in the Bailey farm. Bandford had a weak health so March took care about the hard work in the farm. March was odd and absent-minded but had a strange magnanimity. They raised fowls and ducks, and were afraid of a fox that was carrying hens under their very noses. One day March met the fox and they had eye contact. At this moment March was spell-bounded by the fox. The fox impressed her. The time passed and March was also not conscious that she thought of the fox. March was possessed by him. One evening, a young soldier arrived at the farm looking for h...

Canterbury essays

Canterbury essays The Clerks Tale is an indirect response to the Wife of Bath who stated that women desire complete sovereignty over their husbands and lovers. The Clerk puts forth a diametrically opposite view and draws the sketch of a totally submissive Chaucers source for the Clerks tale is Petrarchs Fable of Obedience and Wifely Faith written in Latin that was in turn derived from Boccaccios Decameron. Chaucer closely follows Petrarchs text. Chaucer makes the Clerk candidly acknowledge that his tale is derived from "Frauncey's Petrak". The Clerks Tale is suited to his character as a serious student. His tale too has a scholarly theme and deals with the issue of genuine obedience and loyalty in a wife. Griseldas story upholds faith in goodness even in times of adversity. It is definitely a moral tale and the Clerk relates it with all seriousness and The Hosts warning to the Clerk to keep his language simple and to tell an entertaining and adventurous tale were not needed. The tale proves that the Clerk was not an ossified academic. However the Clerk does not relate an adventurous tale and does make use of rhetoric and figures of speech. When the Clerk concludes his tale the Host commends him for relating his story in a sweet and Chaucer has invested, the folk tale Petrarchan version of the patient Griseldas story, with an amazing degree of realism. Griselda comes across as a real life human character. Her sincerity to her husband and affection for her children seem realistic. Her pathos is heart rending and earns the readers Griseldas story of long suffering may be unappealing to modern readers. But it is important to interpret the tale in the context of the fourteenth century. Griselda was simply acting in accordance ...

American Hospital Assciation Research Paper Example | Topics and Well Written Essays - 1000 words

American Hospital Assciation - Research Paper Example lth of individuals and the community as a whole and hence lends support to hospitals and health care systems that work for the betterment of community health. The organization which initially began as an association for hospital superintendents and addressed the concerns of hospital administrators later on provided membership access to executive officers, associates and institutions. These inclusions resulted in a change of the organization’s goal from simple interchange of ideas related to hospital management and economics to promoting efficient economic and hospital management. With the inclusion of institutional membership the objective was later extended to promote the health and welfare of the community at large, along with appropriate management of hospitals and dispensaries and to obtain the support and cooperation of hospitals and health care systems which had similar goals as the AHA. With these new objectives in place, the institution called for the development of outpatient services with emphasis on education and research. The revised mission in 1987 stressed on efficient leadership in public policies, advocacy and other services. Through its advocacy in courts and halls of the Congress the AHA has become the voice of hospitals and health care systems across the country. AHA is strongly advocating for the legal issues associated with healthcare and is laying emphasis on quality and accreditation of health care units keeping in mind the final goal of providing good quality health care to people. The achievements of the organization reflect its dual role in improving both hospital organization and public health. The AHA helped the establishment of the Blue cross and funding for the Commission on Hospital Care which in turn lead to the formation of the Hill-Burton programme. It also laid the foundation for the Medicare legislation which resulted in better access to healthcare facilities for the elderly. The AHA also established the House of Delegates

Do Nurses' Empathy affect the outcome of care Literature review - 1

Do Nurses' Empathy affect the outcome of care - Literature review Example Empathy in a clinical environment involves an ability to communicate, understand and check the truth of the patients and get the feedback (Bloom, 2014). The need of empathy is to ensure that nurses are emotionally taking care to patients. It is believed that the best way for the practising empathy by the nurse periodically is to make contact with the patient’s situation. Nurses through empathy are able to understand the need of patients and their physical concern. However, this may not always be possible by the nurse practitioners because of some difficulties such as lack of understanding or low operating levels and time constraints. The important part of the empathy for the nurse profession is the operating level, lack of empathic services and burnout (Boyle, 2011). During my clinical practise, I have seen that empathy plays a vital role in the nursing profession. Empathy is to be regarded as the skill to see and value the need patients, their feelings and perception. Clinically, empathy plays a crucial role in understanding the perception of patients. This is a way to provide treatment to patients to ensure corrective health care. It is revealed that through empathy a strong relation amid patient and nurse is created, which helps in providing proper medication and treatment. Empathy is the skill to become sensible, aware, understand and be sensitive towards the others attitudes, behaviour and feeling (Canale, Louis, Maio, Wang, Rossi, Hojat, & Gonnella, 2012). Empathy is an intellectual situation where in the same sets of emotions are shared with the individual. Furthermore, it is also stated that the level of empathy felt by people can vary and can be determined by various factors such as the individual behaviour of the people (Cole-King, & G ilbert, 2011). I have also observed that personal communications within the technological advancement, society and shared experience is an important factor, which disturbs the level of empathy within the society and

Mentors in Professional Nursing Research Paper Example | Topics and Well Written Essays - 1500 words

Mentors in Professional Nursing - Research Paper Example Mentorship extends over a period of time, within which reciprocal sharing, learning, and development take place in an environment formed around respect and collegiality (Mariani, 2012). Further, Mariani (2012) emphasizes that reinforcing mentoring relationships within the nursing profession is essential in order to ensure that crucial facets of the vocation are retained, particularly in the present day healthcare environment. Moreover, an effective nurse mentor relationship is important for the upcoming generation of nurses. The purpose of this paper is to discuss how mentors support the nursing profession, the required characteristics of a mentor, and components of an effective mentor program. How Mentoring Supports the Nursing Profession Today, training, education and administration within the nursing profession is required to support and provide fundamental solutions that are directed toward the existing and progressively waning decline in nursing professionals’ collegialit y, self-confidence, and support. Indeed, the consequential damaging effects are realized in declining staff performance, and in deficient patient care outcomes. Additionally, the rapidly transforming health care environment requires that actions be taken to reinforce and inspire new and experienced nurses so as to retain competent nursing staff. Consequently, mentorship offers a unique opportunity for newer nurses to cultivate durable relationships with experienced nurses that are beneficial to the growth of both individuals and contributes to the retention of nurses within the organization and the profession. As noted earlier, mentors offer information, support and professional advice to novice nurses over an extended period of time. As such, both the mentor and mentee devote a substantial amount in the mentoring relationship emotionally, thus enabling self-directed growth and learning. To this end, mentorship provides many benefits to the nursing profession. First, mentoring helps decreases or alleviates stress and anxiety among nursing professional which impacts burnout rates. In recent years, professional nursing has been considered as an extremely stressful occupation owing to the increasing acuity of patients, declining staffing ratios, and time pressures arising from increasing productivity and performance requirements in healthcare facilities. In a research conducted at two tertiary care hospitals in New Delhi, Bhatia, Kishore, Anand, and Jiloha (2010) reported substantial job stress in approximately 87.4% of the eighty seven staff nurse respondents. According to the study, â€Å"time pressure† was identified as the top placed stressor (Bhatia, Kishore, Anand, & Jiloha, 2010). In another study, Duvall and Andrews (2010) surveyed the literature to establish why staff nurses left the bedside in connection to the nursing shortage and increased turnover rates. The study revealed a variety of reasons including management issues, job stress, job desig n, physical demands, and the inability to develop new nurses (Duvall & Andrews, 2010, p. 309). Furthermore, job stress has been linked to poor job satisfaction (Hassell, Archbold, & Stichman, 2011), undesirable physical and mental health outcomes (Nash, 2010), and ultimately to

Prospectus of bsrm steels limited Essay Example for Free

Prospectus of bsrm steels limited Essay Declarations and due diligence certificates Declaration about the responsibility of the Directors including the CEO of the Company in respect of the prospectus Consent of the Directors to Serve Declaration about filing of prospectus with the Registrar of Joint Stock Companies Firms Due Diligence Certificate of Manger to the Issue Due Diligence Certificate of the Underwriter(s) Risk factors management perceptions about the risks Capital structure Use of IPO proceeds Description of business Back ground of the project Important date Nature of business Principal products and services The Rolling Process Market for the BSRMS Products Relative contribution to income Associate subsidiary/related holding company Distribution of products/services Sources and availability of raw materials and principal suppliers Competitive condition of business Sources of and requirement for power, gas and water or any other utilities Customer providing 10% or more revenues Contract with principal customers and suppliers Material patents, trademarks, license or royalty agreements Number of employees (as per audited accounts) Capacity and current utilization of facility Description of property Financial Condition and Plan of Operation Internal and external sources of fund (as per audited accounts) Material commitment for capital expenditure Causes for material changes Seasonal aspect of the Company’s business Known trends, events or uncertainties Change in the assets of the Company used to pay off any liabilities Loan taken from holding/parent company or subsidiary company Loan given to holding/parent company or subsidiary company Future contractual liabilities Future capital expenditure VAT, income tax, customs duty or other tax liability Operating lease agreement Financial lease and other financial commitment Personnel related scheme Revaluation of assets Breakdown of issue expenses Auditors certificate regarding any allotment of shares to promoters or Sponsor shareholders for consideration other than in cash -5- Page No 7 7 10 11 11 11 11 12 12 13 15 15 15 15 15 15 16 16 17 17 17 17 17 18 18 18 18 19 19 19 19 20 20 20 20 20 20 21 21 21 21 21 21 21 21 21 21 22 22 Issuer Issue Managers  ¦  ¦  ¦ Alliance Financial Services Limited BSRM Steels Limited South Asia Capital Limited Item Transactions with subsidiary/holding company or associate companies Material information which is likely to have an impact Directors and officers Information regarding directorship Directors involvement in other organization Family relationship among directors and top five officers Short bio-data of the directors Credit information Bureau (CIB) report Description of senior executive and departmental heads Involvement of Directors and officers in certain legal proceedings Certain Relationships and Related Transactions Transaction with related parties Directors facilities Executive compensation Remuneration paid to top five salaried officers Aggregate amount of remuneration paid to directors and officers (as audited accounts) Remuneration paid to Director who was not an officer Future compensation to Director or officers Pay increase intention Options granted to Directors, officers and employees Transaction with the Directors and subscribers to the Memorandum Tangible assets per share Ownership of the Company’s securities Composition of Shareholders Share hold by Directors Shareholding structure 5% or more as on 30 April 2008 Securities owned by the officers Determination of offering price Market for the securities being offered Declaration about listing of shares with Stock Exchange Trading and settlement Description of Securities outstanding or being offered Dividend, voting, pre-emption rights Conversion and liquidation rights Dividend policy Other rights of shareholders Debt securities Lock-in on sponsors share Refund of subscription money Subscription by and refund to non-resident Bangladeshi (NRB) Availability of securities Offer Application for subscription Allotment Underwriting of shares Principal terms and conditions of underwriting agreement Underwriter’s right to represent in the Board of Directors of the Company Auditors report to the shareholders Audited Financial Statements Auditors report under section 135(1), Para 24(1) of part II of schedule III to Companies Act, 1994 Ratio Analysis Additional disclosures as required by Securities and Exchange Commission Credit rating report of BSRMS Application forms -6- Page No 23 23 23 23 24 25 26 26 27 27 27 27 28 28 28 28 28 28 28 29 29 29 29 29 29 30 30 30 30 31 31 31 31 31 31 32 32 32 36 36 36 36 37 38 38 38 38 39 40 54 55 57 59 76 Issuer Issue Managers  ¦  ¦  ¦ Alliance Financial Services Limited BSRM Steels Limited South Asia Capital Limited Disclosure in respect of issuance of security in Demat Form As per provision of the Depository Act, 1999 and regulations made there under, shares will only be issued in dematerialized condition. All transfer/transmission/splitting will take place in the Central Depository Bangladesh Ltd. (CDBL) system and any further issuance of shares (right/bonus) will be issued in dematerialized form only. Conditions under Section 2CC of the Securities and Exchange Ordinance, 1969 Part A 1. The company shall go for Initial Public Offer (IPO) for 20,00,000 ordinary shares of Taka 100 (taka one hundred) each at par worth Taka 20,00,00,000 (Taka twenty crore) only following the Securities and Exchange Commission (Public Issue) Rules, 2006, the Depository Act, 1999 and regulations made there under. 2. The abridged version of the prospectus, as approved by the Commission, shall be published by the issuer in four national daily newspapers (in two Bangla and two English), within 03 (three) working days of issuance of this letter. The issuer shall post the full prospectus vetted by the Securities and Exchange Commission in the issuer’s website and shall also put on the websites of the Commission, stock exchanges, and the issue managers within 03 (three) working days from the date of issuance of this letter which shall remain posted till the closure of the subscription list. The issuer shall submit to SEC, the stock exchanges and the issue managers a diskette containing the text of the vetted prospectus in â€Å"MS -Word† format. 3. Sufficient copies of prospectus shall be made available by the issuer so that any person requesting a copy may receive one. A notice shall be placed on the front of the application form distributed in connection with the offering, informing that interested persons are entitled to a prospectus, if they so desire, and that copies of prospectus may be obtained from the issuer and the issue managers. The subscription application shall indicate in bold type that no sale of securities shall be made, nor shall any money be taken from any person, in connection with such sale until twenty five days after the prospectus has been published. 4. The company shall submit 40 (forty) copies of the printed prospectus to the Securities and Exchange Commission for official record within 5 (Five) working days from the date of publication of the abridged version of the prospectus in the newspaper. 5. The issuer company and the issue managers shall ensure transmission of the prospectus, abridged version of the prospectus and relevant application forms for NRBs through e-mail, simultaneously with publication of the abridged version of the prospectus, to the Bangladesh Embassies and Missions abroad and shall also ensure sending of the printed copies of abridged version of the prospectus and application forms to the said Embassies and Missions within five working days of the publication date by express mail service (EMS) of the postal department. A compliance report shall be submitted in this respect to the SEC jointly by the issuer and the issue managers within two working days from the date of said dispatch of the prospectus the forms. 6. The paper clipping of the published abridged version of the prospectus, as mentioned at condition 2 above, shall be submitted to the Commission within 24 hours of the publication thereof. 7. The company shall maintain separate bank account(s) for collecting proceeds of the Initial Public Offering and shall also open FC account(s) to deposit the application money of the Non-Resident Bangladeshis (NRBs) for IPO purpose, and shall incorporate full particulars of said FC account(s) in the prospectus. The company shall open the abovementioned accounts for IPO purpose; and close these accounts after refund of over-subscription. Non- Resident Bangladeshi (NRB) means Bangladeshi citizens staying abroad including all those who have dual citizenship (provided they have a valid Bangladeshi passport) or those, whose foreign passport bear a stamp from the concerned Bangladesh Embassy to the effect that no visa is required to travel to Bangladesh. 8. The issuer company shall apply to all the stock exchanges in Bangladesh for listing within 07(seven) working days from the date of issuance of this letter and shall simultaneously submit the vetted prospectus with all exhibits, as submitted to SEC, to the stock exchanges. 9. The following declaration shall be made by the company in the prospectus, namely: â€Å"Declaration about Listing of Shares with the Stock Exchange(s): None of the stock exchange(s), if for any reason, grants listing within 75 days from the closure of subscription, any allotment in terms of this prospectus shall be void and the company shall refund the subscription money within fifteen days from the date of refusal for listing by the stock exchanges, or from the date of expiry of the said 75 (seventy five) days, as the case may be. In case of non -refund of the subscription money within the aforesaid fifteen days, the company directors, in addition to the issuer company, shall be collectively and severally liable for refund of the subscription money, with interest at the rate of 2% (two percent) per month above the bank rate, to the subscribers concerned. -7- Issuer Issue Managers  ¦  ¦  ¦ Alliance Financial Services Limited BSRM Steels Limited South Asia Capital Limited The issue managers, in addition to the issuer company, shall ensure due compliance of the above mentioned conditions and shall submit compliance report thereon to the Commission within seven days of expiry of the aforesaid fifteen days time period allowed for refund of the subscription money. † 10. The subscription list shall be opened and the sale of securities commenced after 25 (twenty five) days of the publication of the abridged version of the prospectus and shall remain open for 5 (Five) consecutive banking days. 11. A non-resident Bangladeshi shall apply either directly by enclosing a foreign demand draft drawn on a bank payable at Dhaka, or through a nominee by paying out of foreign currency deposit account maintained in Bangladesh or in Taka, supported by foreign currency encashment certificate issued by the concerned bank, for the value of securities applied for through crossed bank cheque marking â€Å"Account Payee only†. The NRB applicants shall send applications to the issuer company within the closing date of the subscription so as to reach the same to the company by the closing date plus nine days. Applications received by the company after the above time period will not be considered for allotment purpose. 12. The company shall apply the spot buying rate (TT clean) in US Dollar, UK Pound Sterling and Euro of Sonali Bank, which shall be mentioned in the Prospectus, as prevailed on the date of opening of the subscription for the purpose of application of the NRBs and other non-Bangladeshi persons, where applicable. 13. The company and the issue managers shall ensure prompt collection/clearance of the foreign remittances of NRBs and other non-Bangladeshis, if applicable, for allotment of shares. 14. Upon completion of the period of subscription for securities the issuer and the issue managers shall jointly provide the Commission and the stock exchanges with the preliminary status of the subscription within 05 (five) working days, in respect of the following matters, namely: (a) Total number of securities for which subscription has been received; (b) Amount received from the subscription; and (c) Amount of commission paid to the banker to the issue. 15. The issuer and the issue managers shall jointly provide the Commission and the stock exchanges the list of valid and invalid applicants in 2 (two) CDs and final status of subscription to the Commission within 3 (three) weeks after the closure of the subscription along with bank statement (original), branch-wise subscription statement. The list of valid and invalid applicants shall be finalized after examination with the CDBL in respect of BO accounts and particulars thereof. 16. The IPO shall stand cancelled and the application money shall be refunded immediately (but not later than 5 (Five) weeks from the date of the subscription closure) if any of the following events occur: (a) Upon closing of the subscription list it is found that the total number of valid applications (in case of under subscription including the number of the underwriter) is less than the minimum requirement as specified in the listing regulations of the stock exchange(s) concerned; or (b) At least 50% of the IPO is not subscribed. 17. 10% of total public offering shall be reserved for non-resident Bangladeshi (NRB) and 10% for mutual funds and collective investment schemes registered with the Commission, and the remaining 80% shall be open for subscription by the general public. In case of under subscription under any of the 10% categories mentioned above, the unsubscribed portion shall be added to the general public category and, if after such addition, there is over subscription in the general public category, the issuer and the issue managers shall jointly conduct an open lottery of all the applicants added together. 18. All the applicants shall first be treated as applied for one minimum market lot of 50 shares worth Tk. 5000/-. If, on this basis, there is over subscription, then lottery shall be held amongst the applicants allocating one identification number for each application, irrespective of the application money. In case of over-subscription under any of the categories mentioned hereinabove, the issuer and the issue managers shall jointly conduct an open lottery of all the applications received under each category separately in presence of representatives from the issuer, the stock exchanges and the applicants, if there be any. 19. An applicant cannot submit more than two applications, one in his/her own name and another jointly with another person. In case an applicant makes more than two applications, all applications will be treated as invalid and will not be considered for allotment purpose. In addition, whole or part of application money may be forfeited by the Commission. -8- Issuer Issue Managers  ¦  ¦  ¦ Alliance Financial Services Limited BSRM Steels Limited South Asia Capital Limited 20. The primary shares allotted to an applicant through IPO may be forfeited by SEC, if the BO account of the said applicant is found closed at the time of allotment of shares. All IPO applicants are required to keep their BO accounts operational till allotment of IPO shares. 21. Lottery (if applicable) shall be held within 4 (four) weeks from closure of the subscription date. 22. The company shall issue share allotment letters to all successful applicants within 5 (five) weeks from the date of the subscription closing date. Within the same time, Refund to the unsuccessful applicants shall be made in the currency in which the value of securities was paid for by the applicants without any interest through Account Payee Cheque/ refund warrants with bank account number, bank’s name and Branch as indicated in the securities application forms payable at Dhaka/ Chittagong/ Khulna/ Rajshahi/ Barisal/ Sylhet/ Bogra, as the case may be subject to condition 19 above. Refund money of the unsuccessful applicants shall be credited directly to their respective bank accounts with in 5 (five) weeks from the date of the subscription closing, who have mentioned in the IPO application forms, bank account numbers with the bankers to the issue and other banks as disclosed in the prospectus. A compliance report in this regard shall be submitted to the Commission within 6(six) weeks from the date of closure of subscription. 23. The company shall furnish the List of Allotees to the Commission and the stock exchange(s) simultaneously in which the shares will be listed, within 24 (twenty four) hours of allotment. 24. In the event of under-subscription of the public offering, the unsubscribed portion of securities shall be taken up by the underwriter(s) (subject to para -16 above). The issuer must notify the underwriter to take up the underwritten shares within 10 (ten) days of the subscription closing date on full payment of the share money within 15(fifteen) days of the issuer’s notice. The underwriter shall not share any underwriting fee with the issue managers, other underwriters, issuer or the sponsor group. 25. All issued shares of the issuer at the time of according this consent shall be subject to a lock in period of three years from the date of issuance of prospectus or commercial operation, whichever comes later: Provided that the persons, other than directors and those who hold 5% or more, who have subscribed to the shares of the company within immediately preceding two years of according consent, shall be subject to a lock -in period of one year from the date of issuance of prospectus or commercial operation, whichever comes later. 26. Either a Jumbo Share (one for each of the existing Sponsors/ Directors/ Shareholders) in respect of the shares already issued shall be issued covering together respective total holding, which shall contain the expiry date of lock-in period or Sponsors/Directors/Promoters/Shareholders’ shareholding shall be converted into demat form but shall be locked-in as per the condition at para-25 above. 27. In case of Jumbo Share Certificate issued to the existing Sponsors/ Directors/Shareholders, the said share certificates shall be kept under custody of a security custodian bank registered with SEC during the lock-in period. The name and branch of the bank shall be furnished to the Commission jointly by the issuer and the issue managers, along with a confirmation thereof from the custodian bank, within one week of listing of the shares with the stock exchange(s). 28. In case of dematerialization of shares held by the existing Sponsors/ Directors/Shareholders, the copy of dematerialization confirmation report generated by CDBL and attested by the managing director of the company along with lock-in confirmation shall be submitted to SEC within one week of listing of the shares with the stock exchange(s). 29. The company shall apply to the stock exchanges for listing within 7(seven) working days of issuance of this letter and shall simultaneously submit to the Commission attested copies of the application filed with the stock exchanges. 30. The company shall not declare any benefit other than cash dividend based on the financial statement for the period ended December 31, 2007. Part-B 1. The issue managers (i. e. , Alliance Financial Services Limited and South Asia Capital Limited) shall ensure that the abridged version of the prospectus and the full prospectus is published correctly and in strict conformity without any error/omission, as vetted by the Securities and Exchange Commission. 2. The issue managers shall carefully examine and compare the published abridged version of prospectus on the date of publication with the copy vetted by SEC. If any discrepancy/inconsistency is found, both the issuer and the issue managers shall jointly publish a corrigendum immediately in the same newspapers concerned, simultaneously endorsing copies thereof to SEC and the stock exchange(s) concerned, correcting the discrepancy/inconsistency as required under ‘Due Diligence Certificates’ provided with SEC. -9- Issuer Issue Managers  ¦  ¦  ¦ Alliance Financial Services Limited BSRM Steels Limited South Asia Capital Limited 3. Both the issuer company and the issue managers shall, immediately after publication of the prospectus and its abridged version, jointly inform the Commission in writing that the published prospectus and its abridged version are verbatim copies of the same as vetted by the Commission. 4. The fund collected through IPO shall not be utilized prior to listing with stock exchange and that utilization of the said fund shall be effected through banking channel, i. e. through account payee cheque, pay order or bank drafts etc. 5. The company shall furnish report to the Commission on utilization of IPO proceeds within 15 days of the closing of each quarter until such fund is fully utilized, as mentioned in the schedule contained in the prospectus, and in the event of any irregularity or inconsistency, the Commission may employ or engage any person, at issuer’s cost, to examine whether the issuer has utilized the proceeds for the purpose disclosed in the prospectus. 6. All transactions, excluding petty cash expenses, shall be effected through the company’s bank account(s). 7. Proceeds of the IPO shall not be used for any purpose other than those specified in the prospectus. Any deviation in this respect must have prior approval of the shareholders in the General Meeting under intimation to SEC and stock exchange(s). 8. The company shall remove the restrictive clauses regarding issuance transfer of shares and grouping of shares from its Articles of Association. Part C 1. All the above conditions imposed under section 2CC of the Securities and Exchange Ordinance, 1969 shall be incorporated in the prospectus immediately after the page of the table of contents, with a reference in the table of contents, prior to its publication. 2. The Commission may impose further conditions/restrictions etc. from time to time as and when considered necessary, which shall also be binding upon the issuer company. Part D 1. As per provision of the Depository Act, 1999 and regulations made there under, shares will only be issued in dematerialized condition. All transfer/transmission/splitting will take place in the Central Depository Bangladesh Ltd. (CDBL) system and any further issuance of shares (including right/bonus) will be made in dematerialized form only. An applicant (including NRB) shall not be able to apply for allotment of shares without beneficial owner account (BO account). 2. The issue managers shall also ensure due compliance of all above. GENERAL INFORMATION Alliance Financial Services Limited (AFSL) and South Asia Capital Limited (SACL) have prepared the prospectus from information supplied by BSRM Steels Limited (the Issuer Company) and also after several discussions with the Chairman, Managing Director, Directors and concerned executives of the company. BSRM Steels Limited, Alliance Financial Services Limited and South Asia Capital Limited collectively and individually, having made all reasonable inquiries, confirm that to the best of their knowledge and belief, the information contained herein is true and correct in all material aspects and that there are no other material facts, the omission of which, would make any statement herein misleading. No person is authorized to give any information or to make any representation not contained in this Prospectus and if given or made, any such information and representation must not be relied upon as having been authorized by the company or Alliance Financial Services Limited and South Asia Capital Limited. The Issue as contemplated in this prospectus is made in Bangladesh and is subject to the exclusive jurisdiction of the Courts of Bangladesh. Forwarding this prospectus to any person resident outside Bangladesh in no way implies that the issue is made in accordance with the laws of that country or is subject to the jurisdiction of the laws of that country. A copy of this prospectus may be obtained from the Corporate Head Office of BSRM Steels Limited, Alliance Financial Services Limited, South Asia Capital Limited, the Underwriters and the Stock Exchanges where the securities will be traded. 10 Issuer Issue Managers  ¦  ¦  ¦ Alliance Financial Services Limited BSRM Steels Limited South Asia Capital Limited Declarations and Due Diligence Certificates Declaration about the Responsibility of the Directors, including the CEO of the Company â€Å"BSRM Steels Limited† in Respect of the Prospectus This prospectus has been prepared, seen and approved by us, and we, individually and collectively, accept full responsibility for the authenticity and accuracy of the statements made, information given in the prospectus, documents, financial statements, exhibits, annexes, papers submitted to the Commission in support thereof, and confirm, after making all reasonable inquiries that all conditions concerning this public issue and prospectus have been met and that there are no other information or documents the omission of which make any information or statements therein misleading for which the Commission may take any civil, criminal or administrative action against any or all of us as it may deem fit. We also confirm that full and fair disclosure has been made in this prospectus to enable the investors to make a well-informed decision f or investment. Sd/ Alihussain Akberali Chairman Sd/Zohair Taherali Director Sd/Aameir Alihussain Managing Director* Sd/Tehseen Zohair Taherali Director Sd/Sabeen Aameir Director Consent of the Directors to Serve We hereby agree that we have been serving as Directors of â€Å"BSRM Steels Limited and confirm to continue to act as Directors of the Company. Sd/ Alihussain Akberali Chairman Sd/Zohair Taherali Director Sd/Aameir Alihussain Managing Director* Sd/Tehseen Zohair Taherali Director Sd/Sabeen Aameir Director * Mr. Aameir Alihussain is also a shareholder Director of the company. Declaration about filing of Prospectus with the Registrar of Joint Stock Companies Firms A dated and signed copy of the Prospectus has been filed for registration with the Registrar of J

Julius Ceaser Essays -- essays papers

Julius Ceaser Julius Caesar Julius Caesar was born on July 13th in 100B.C. His full name is Gaius Julius Caesar, which was the same as his father’s name. Julius Caesar was the most famous Roman general and was one of the most influential political and military leaders in history. He helped establish the vast Roman Empire. Caesar gained all his power in four different areas. Those areas are politics, government, religion, and in the military. Using these amazing powers he controlled many aspects of Roman life. In 84B.C. Caesar married Cornelia, the daughter of Lucis Cornelius Cinna, a noble who was Marious’ associate in revolution. Lucis Cornelius Sulla demanded they divorce in 83, but Caesar refused, risking his job and his life. Caesar went to Rhodes to study oratory. Pirates captured him on his way. His relatives paid a ransom and he was released. Once he was out he recruited private troops and captures the Pirates. Then he executed them. Caesar had won victories in Spain and had attracted many men in Rome. In 60B.C, Caesar and Pompey formed an alliance with Marcus Lucius ...

Risk and types of Financial Risk Essay -- Business, Banks, Insurance

Value at Risk -Introduction As Walter Wriston, former chairman of Citigroup, said â€Å"All of life is the management of risk, not its elimination† and nowadays modern banking is about controlling risk and returns. The ability of a financial institution to control risk is a key factor that determines its success or its failure in markets. As the late financial crisis has demonstrated institutions that were not properly prepared to face the crisis, failed and they were either bailed out by governments or serve economists as bad example. This is the reason risk management is an important field of every financial institution. -Risk and types of Financial Risk As Philippe Jorion (2007) mentions a definition for risk can be the volatility of unanticipated outcomes and can be created by natural disasters, such as the recent earthquake in Japan that is reported to cause a drop of 3% of the oil price in the first few days after it, or it can created by human activities such as technological innovation which might create unemployment. Phillip Best (1998) argues that risk matters only when it causes financial losses and financial risk is the one linked with financial assets and portfolios and is classified in broader categories; market risk, credit risk, liquidity risk and operational risk. There is evidence that these types of risk can affect one another. Market risk is the one linked with the movements of the price level of market. Credit risk is generated when parties involved in an economic contract are either incapable or reluctant to satisfy their commitments. Jorion (2007) classifies liquidity risk into two forms; asset liquidity risk and funding liquidity risk. Jorion (2007, p. 23): Asset liquidity risk†¦arises when a transaction can... ... effects than those expected. Nevertheless VaR is always a statistical tool, meaning that if using VaR is estimated a loss of  £10 millions in one month, it is known that there might be months with smaller losses and months with larger than  £10 millions. There is also the problem of identifying the right method because each method has its own strengths and weaknesses. So it is important for a risk manager to be able to identify the key factors of the market. These can be market rates and prices that can affect the portfolio and the necessity of this derives from the fact that without these factors is impossible to build a proper quantitative measure of market risk, due to the complexity of financial markets. So to start properly one has to recognize the instruments through which market risk factors will be embodied, such instruments may be options, swaps or loans.

Sales Management Project Report

We were tasked with interviewing the sales manager of a firm, in order to analyze the working of their sales department. We chose Atlas Honda as our company for this project and secured an interview with their sales manager, and questioned him in detail about the operational procedures of the sales department of Atlas Honda. This report contains his responses that shed light on the workings of Atlas Honda’s sales force, as well as our evaluation of their sales operations.Selected CompanyAtlas Honda is a joint venture between Atlas Group of Pakistan and Honda Motor Company of Japan. We chose Atlas Honda as it is the market leader of motorcycles in Pakistan, and thus conducts hefty sales of motorcycles every month, employing a number of effective sales techniques in order to make new customers and to retain old customers.When asked why he chose to pursue a career in sales, he expressed his gratification in working to achieve a target of sales against his competitors, the incenti ves offered for achieving more than the target, and the freedom and travel opportunities that only a sales job could provide. His philosophy regarding his sales career resides in giving a proper product to the customer for the money spent by him, and to create customer lifetime value and build long-term relationships with customers.InterviewQ1. How do you see the marketplace today-changes and trends? Ans. â€Å"In terms of motorbikes, there has not been much of a change in the market in reference to commuter bikes, hence little changes have been made to the existing CD70 model as it is still used as a simple commuter motorcycle. The CD125 model has received a deluxe edition, giving it a sporty look to appeal to more image conscious segment.The Pridor was introduced as a 100cc sporty bike, targeted at customers who wanted something in between the existing 70cc and 125cc motorcycles. The most significant change in the market has been the developing interest in sports bikes. To meet t his new growing  segment in the market, we have launched the Honda CBR150 and Honda CBR500 sports bikes. Atlas Honda closely observes market changes and trends and adjusts its product line accordingly.†Q2. How do you view the importance of cultural diversity in the marketplace? Ans. â€Å"Here in Pakistan when we talk about cultural diversity, it is not particularly significant in terms of commuter motorcycles, as customers looking for commuting motorcycles generally have the same needs such as low price and economical fuel consumption, making the difference in culture largely irrelevant. However, diversity in culture has led to a new market of customers who want high-performance sports and are willing to pay more, a market that we have tapped with the launch of the CBR150 and CBR500.†Q3. How do you define the role of sales support? How important are ethics? Ans. â€Å"Sales support forms an important part of the sales department here at Atlas Honda. They assist the salespersons by various means, such as market research, lead generation, making travel arrangements, scheduling meetings, sending out sales materials and review and reporting of sales. As for ethics, we have always believed in serving the customer in the best possible way so as to cultivate long-term relationships.†Q4. How do you expect sales force to follow a sales process? Ans. â€Å"The sales process followed consists of an initial contact, an approach where needs of the customer is evaluated, followed by a presentation or proposition, finalizing the sale, and lastly follow up. Salespersons are encouraged to close sales using minimum amount of resources and with minimum sales calls.†Q5. How do you organize the sales force-is it local or centralized? Ans. â€Å"Organization of sales force is localized, that is to say that it is decided upon by the regional sales managers, who assign the number of salespersons to specific areas based in the amount of current and poten tial customers.†Q6. How do you select salespersons when positions become vacant? Ans. â€Å"Our Human Resource department is responsible for hiring of new salespersons. They prepare a list of candidates and determine which candidates are most  suitable for the position through interviews. Salespersons with prior experience are naturally given preference, however we also take fresh graduates, in which case they undergo a short period of training before starting work.† Q7. How do you train new personnel? Train experienced salespersons?Ans. â€Å"Our training here is very strong because Atlas Group believes very strongly in development of human resources. The more effort is put into developing our human resources the more the company will grow. We generally avoid hiring people from the top universities. Instead, we take mediocre students who are willing to learn and work hard. In this company there is much to learn and we provide training for new employees. As for train ing experienced personnel, every year we send our employees to study at IBA and LUMS.Additionally, every year one person is selected to study at Harvard University. So training and development is constantly observed here. Here we have SAP system in our computers and for human resource we have HAY system. So every person is evaluated quarterly and then half yearly and then yearly. Then the company goes over their weaknesses and provides relevant training and coaching to overcome their limitations.†Q8. How do you select and interact with partners? Determine sales force size? Ans. â€Å"We have a system in which we divide Pakistan 7 regions. Every region has a head called Regional Manager. Then above him there is a National Manager. Then there is General Manager Marketing. Then Vice President Marketing. And then there is CEO. Every region has a geographical distribution in which there may be four or five territories according to that area. We make territories under the regions. In every territory under the Regional Managers there is a Head of Sales, a Head of Services and a Head of Parts.† Q9. How do you motivate the sales force? Use monetary and non-monetary incentives?Perceived success of these actions? Ans. â€Å"There is a monthly target which the salesperson has to achieve and upon achieving that target he gets an annual raise. We use a scale to classify how good a salesperson is at closing sales. If he is close to the target that means its fair. If he achieves his targets that means his is good. If he goes 10% above his target that means he is very good. If he goes beyond that then it means that he is outstanding.So basically there are four categories on which a salesperson is evaluated for the raise in his salary; fair, good,  very good, excellent. Additionally, the advantage for salespeople is that after a year or two there are foreign vacations awarded to them. They may win by achieving the most sales. They are sent to places like Europe, Brazil etc. They get extra money for it in addition to the vacation to enjoy and relax.†Q10. How do you reimburse the sales force for expenses?Ans. â€Å"Laws are defined here for the reimbursement of expenses. No one is allowed to interfere whether it may be Vice President or General Manager. The laws defined here are working on two systems. The first is called Management Executive Committee (MEC). Then there is Group Executive Committee (GEC). Only GEC has the right to change laws because only high profile members are allowed in it. So everything is defined.Every person has a grade wise allowance. Kilometers are standardized. Whether a General Manager uses it or may it be an ordinary sales representative. It is already defined that a particular amount per kilometer would be paid when travelled. If he has to stay overnight then there is hotel allowance. If there is no hotel then there is an independent allowance given to that person. So a healthy amount of incentives are gi ven and they are clearly defined and no one can misuse them.†Q11. How do you evaluate the sales force? Frequency and methods? Ans. â€Å"As I have mentioned we have got HAY system in which objectives are defined. They are evaluated on quarterly, half yearly and yearly basis. After three months an analysis is done on the objective to check whether that salesperson is achieving his target or not. We work on a PDCA format which is Plan Do Check Action. We see whether the targets are being achieved or not. If they are, then good.If not, then we examine targets are not being achieved. What were the problems faced and how can we counter them? This is PDCA. Every person’s job is defined. What he has to do, what he doesn’t, and his responsibilities. He knows the result that he has to produce after a year. Hence, salespersons are evaluated on their achievement of target sales.†Q12. How do you play a role in forecasting? What methods are utilized? Ans. â€Å"For fo recasting basically two methods are used. One of them is by using  historical growth data. We take the data of last three years, sum it up and forecast the market growth. Then there are assumptions and usage of alpha. Factors like history, assumption and the economy are always studied closely when forecasting.†Q13. How do you contribute to the firm’s strategies and annual planning? Ans. â€Å"As a sales manager, the forecasts that are generated by my department affect the company’s strategies and operations. For example, new strategies may need to be formulated when attempting to penetrate new markets, or when introducing new products into existing markets. Forecasts of sales also affect the company, for example if forecasts show an increase in sales, then more salespersons may need to be hired.†Q14. How do you utilize CRM and practice relationship marketing? Ans. â€Å"It has been almost 50 years since people are related to this company. By this you ca n imagine the worth of the company. Atlas Honda has worked hard to develop brand loyalty with its customers. We are providing our customers with services throughout Pakistan. There is hardly a single town where you cannot find a Honda service facility. Almost every city has got Honda’s sales dealerships. At this very moment there are 650 dealers across Pakistan. Then we have developed the 5S concept as opposed to the 3S concept.Normally companies provide only 3S that is Sales, Service and Spare parts. But in addition to that we also provide additional Second exchange which means you can trade in your old motorcycle for a new one. Then there is Safety. Then to satisfy the customers we have customer care department. There’s a telephonic department which takes care of the customers. We are going to introduce new CRM software next month. If you buy a motorcycle today all your information will be entered. Previous issues will also be displayed in it. You would be greeted by your name upon calling the department and your picture will also be shown.†Q15. How have you successfully managed portfolio of products? Ans. â€Å"We currently have 7 models in production. Everything is controlled by the General Manager. We have a very big setup. A very vast one. There are many things under the General Manager which are being monitored by different  people. We have a department of product planning. All the pros and cons of all models are discussed there. Then the marketing department is also related to them.They decide the best way to sell the product. There are no bookish systems here in this company as you study in the university. Many of the books and theories that you have studied, you won’t find them here. We have got a very straight system here. There’s only one channel of distribution. The company makes the product and then gives it to the dealer. There is no such thing as sales dealer or this and that dealer. More than 90% of the pla nning done here is successful.†EvaluationQ1. How effective is this sales manager? Ans. He is a very effective sales manager. He has effectively organized the sales force in such a way so that no territory is left out. He is vigilant about providing training to employees so that their skills may be developed and they are able to work to their full potential. He is a good leader and actively motivates his sales force to achieve their targets and instructs his sales force to foster long term relationships with their customers.Q2. Which of his/her activities are reflective of what you learned in class and what activities differ? Ans. He organized his sales force and divided the market into territories in order to use his sales force efficiently. He instructs his sales force to use CRM to better manage and service customers and to retain their information about previous purchases and problems for easy access. He gives great importance to training and developing his salespeople so t hat they may overcome any weaknesses. And he gives great importance to generating customer relationship value rather than just making a one-time sale to a customer.Q3. How do they differ and why do they differ? Ans. There is hardly anything among his activities as sales manager that differs from what we studied in class, as he has organized and developed his sales force very effectively, hardly leaving any room for improvement.