Monday, September 30, 2019
Budget Hotel
The Advantages and Disadvantages of 7 Days Inn As a typical budget hotel, Seven Days Group Holdings Limited established in 2005 and now, more than 1000 Seven Days Inn have scattered all around the China (Zhang, 2012). I registered to be a member of 7 Days Inn two years age, and have already lodged in three branch stores in different cities during my travels. Budget hotels are considered as 1 star hotel because they provide lodging at cheaper price varies from 30$-40$ per room per night.The main service is providing guest rooms with limited amenities for general tourists and business travelers(Song, 2009). In the last few years, budget hotel has demonstrated its huge market potential, especially within the key consumer groups, like backpackers and university students. Being one of the top ten budget hotels in China, 7 Days Inn has its obvious advantages, such as various reservation systems, convenient hotel locations and enthusiastic services. The primary reason for customers choosing Seven Days Inn is that it provides a complete hotel reservations system.Hotel reservation system, commonly known as a central reservation system (CRS) is a computerized system that stores and distributes information of a hotel, resort, or other lodging facilities (Zhang, 2012). A complete reservation system is important because it is assistance for hotel staffs to manage all of their online marketing and sales, where they can upload their rates and availabilities to be seen by all customers. And for the customers, they can finish their reservations through multiple channels, like internet, telephone and e-mail.Thanks to the 7 Days Innââ¬â¢s complete reservation system, I could still book a room in time with my mobile phone after I suddenly changed my travel plan in Zhuhai. The second advantage of 7 Days Inn is the convenient location. During my traveling, I found it easy to get to the locations of the branch stores I had booked, because they were either near bus stations or the landmarks of the districts. Different kinds of customers choose 7 Days Inn for different purposes, some for vacations, while others for business. No matter for what purposes, locations of the hotels will surely play a big role in the overall enjoyment of the trip.That's because a well-located hotel will significantly cut down the amount of time you waste in traffic or trying to navigate an unfamiliar place. As a customer-friendly budget hotel, nearly 35% of the 7 Days Inn runs shuttles to and from popular sightseeing destinations, and the rest of its branch stores mainly locate near the metro stations or bus stations (Liu, 2008). At that point, the customers will save money as well as time on cab fare or public transportation. All the staffs trying their best to provide enthusiastic services are the most prominent advantage of the 7 Days Inn.Service quality has been reported as having apparent relationship to costs, profitability, customer satisfaction, customer retention, behaviora l intention, and positive word-of-mouth (Boltan, 1991). To provide high quality service, all staffs in 7 Days Inn are required to wear clean uniform and satisfy customersââ¬â¢ requirements with smiling faces to the greatest extent. Besides, high service quality also has strategic benefits of contributing to market-share and return on investment, as well as in lowering manufacturing costs and improving productivity.Accordingly, in 2011, 7 Days Innââ¬â¢s annual revenue growth rate increased 28%, which illustrates the importance of high service quality (Li, 2012). Although Seven Days Inn has three aforementioned advantages, at the same time, its reputation is also devalued at a certain extent by its disadvantages, such as the deficient company website with limited information and obsolete equipments in some guest rooms. Firstly, 7 Days Innââ¬â¢s company website is underdeveloped, which just with some limited or outdated information.A company website is a fairly inexpensive bus iness tool that can serve a purpose for both the company and its clients. With a thorough company website, 7 Days Inn can feature a complete electronic version of its catalog, in which describe all its products and services in greater details. For its clients, they will have the convenience of reading about the service and updated information on their own time. 7 Days Inn already had a website, but as a permanent member, I only use it for my reservation. Most of the customers can not find some more interesting and eye-catching information.Besides presenting its hotel rate and some basic hotel introductions, to well develop its company website, the 7 Days Innââ¬â¢s webmasters should take measures to perfect its company website, like encouraging all the staffs and customers to publish their ideas and experiences of lodging in 7 Days Inn. On the other hand, obsolete and deficient equipments in some guest rooms also make the customers unsatisfied with 7 Days Inn. I once complained th e small and obsolete TV set in my guest room, because I even could not find CCTV-NEWS channel.Among all the problems about deficient and obsolete equipments, the dullish and yellow lighting in some branch stores is most annoying. Lighting, whose aim is to temporarily receive guests and revivify the staffs, has to be designed for different purposes in different areas. However, in two branch stores that I lodged in, the lightings in corridors were so dim during days and nights, while the lighting color and intensity in the guest rooms was unchangeable. In a hotel, during the day, people are attracted by the interior design, by furnishings, shapes and colors.But at night the hotel has a second dimension, since the guest needs to stay in a safe, comfortable and protected atmosphere, but even relaxing, clean and efficient (Cui, 2007). So the lighting system in 7 Days Inn can be perfected by installing new type of lighting which can change its color and intensity, especially in the recept ions and guest rooms. The disadvantages I mentioned above have been complained by some other customers according to the evaluation records in its website. So, it is high time for the managements of 7 Days Inn to take actions. In 2011, 7 Days Innââ¬â¢s market share was 12. 3%, the second among all the budget hotels in China. During the previous three quarters, it opened 838 branch stores, 95 more when compared with the year earlier (Li, 2012). With its rapid development, 7 Days Inn will surely occupy larger market shares. But, it has to insure the environment and services quality in every branch store. Nevertheless, improving its disadvantages is the main task for managements. References Boltan, R. N. (1991). A Longitudinal Analysis of the Impact of Service Changes on Customer Attitude. Journal of Marketing, 20(1), 1-25. Retrieved June 16, 2012, from http://www. jstor. rg/stable/25061184? . Cui, D. D. (2007). An Analysis of the Developing Prospects and Strategies of Chinese Econom y Hotel from 2000 to 2007. Journal of the Postgraduate of Zhongnan University of Economics and Laws, 5(3), 5-11. Retrieved June 16, 2012, from http;//dlib4. ehttp://dlib4. edu. cnki. net/kns50/detail. aspx? dbname=CJFDTEMP=ZNCZ200706018. Li, D. (2012). Analysis on Financing Development of Economic Hotel in Capital Market. Journal of Tourism College of Zhejiang, 9(3), 13-20. Retrieved June 16, 2012, from http://dlib4. edu. cnki. net/kns50/detail/=CJFDTEMP=LYXY20080212. Liu, M. Q.
Sunday, September 29, 2019
Truck Driving: How to Do It
How many of us can drive a truck? Most people wouldnââ¬â¢t know where to start. All they see is a huge chunk of metal with wheels and canââ¬â¢t fathom driving it. Using this guide will give a crash course (no pun intended) in truck driving and what itââ¬â¢s like on the road with these monsters. It also may help one understand the world of the truck driver and give them a new found respect for them. One of the first steps every truck driver must do before setting out on a trip is the pre-trip inspection. On some tractor-trailers there are as much as one hundred items that need to be checked or replaced. Some of these items include wheels and tires, brakes, lights, and fuel containers. All of which can be a major hazard to other drivers if they are not fixed or properly secured. Another equally important step for a truck driver is making sure the cargo is properly stowed or locked down. Depending on the trailer type there are various ways to properly secure the cargo, such as straps, chains, and wedge blocks. If the cargo isnââ¬â¢t properly secured it can shift and cause the truck to be overweight in a certain area. Being overweight on a certain side or on a certain axel can have a devastating effect on the road or on the truck itself. Federal dictates the no tractor-trailer can exceed 80,000 lbs without proper paperwork. Another area that needs to be checked thoroughly is the inside of the cab and the dash instruments. Most trucks have three times as many gauges as a pedestrian vehicle. Some that you would not find in a car is the air (psi), exhaust temp. , turbo pressure, and oil temperature. It is very important that we keep a check on all the various fluids the truck needs as well. Most trucks will not crank if a fluid level is to low such as the water. Once out on the road a truck driver has to be extremely cautious and aware of what is happening on the road. One of the most overlooked and easiest things to do is watching the mirrors very often. The mirrors are there to help you drive safely and efficiently. It is a very important step to master for the safety of ourselves and the other drivers. There are many more steps and regulations to go along with truck driving. Each state has its own rules and regulations as well as certain cities. Most of which can be viewed on the state DMV website. I hope this essay helps anyone looking to become a truck driver, and remember, keep an eye on those mirrors.
Saturday, September 28, 2019
Arguing for the Legalization of Same-Sex Marriage Essay
Arguing for the Legalization of Same-Sex Marriage - Essay Example Marriage involves very essential individual and state wellbeing and has a revered standing, both due to what it stands for and due to the significant gains to which individuals acquiring that standing are permitted. The value of the institution of marriage for society has been viewed as the obligation of prudent policymakers, the obligation to institute the guidelines legitimizing marriage. Hence, it is not unexpected that the bid to legally recognize civil unions of same-sex marriage is and will persist to be the target of extensive and fierce public debate. Marriage means a lot of things for the human society. It is a major decision that is made by infatuated couples. In reality, a lot of people regard their partner preference the most vital decision they ever make. Civil union is a permissible access to a large number of benefits, responsibilities, and securities, which most cannot be duplicated in any other means. Ultimately, marriage is the language where in ââ¬Ëaverageââ¬â ¢ individuals talk of life stages, self-sacrifice, commitment, family, and love. It is the language of equality, fairness, and love. Diane J. Savino, in the New York State Senate, argued that (from1:45 to 2:00 in the video) that marriage should be granted to sane homosexual couples who want to legally tie their bonds. Marriage is all about respect, love, and understanding. Therefore, same-sex marriage should be legally recognized.
Friday, September 27, 2019
Mental health and mental disorder module(psychososial studies Degree) Essay
Mental health and mental disorder module(psychososial studies Degree) - Essay Example The existence of mental disease and the legality of the psychiatric specialization are not universally acknowledged. Some specialists, especially Doctor Thomas Szasz, Professor Emeritus of Psychiatry at Syracuse, seriously stand up against the practice of use of the definition "mental illness." The anti-psychiatry movement frequently refers to what it means by "myth of mental illness" and dispute against a biological cause for mental disorders, or also states that all human experience has a biological origin and so no type of behaviour can be called a disease per se. In this particular work I would like to study depression from the general point of view and from the point of view of Thomas Szasz in order to prove or disprove his position. So, is depression a disease or a myth? Depression is the most widespread disease of XX century. During all the past and in present century depression was considered as a normal condition of artistic, creative people. We heard more than once: à «I am in depression, live me along ". Nowadays, depression is a dangerous disease, which causes unfeigned suffering. However there are some scientists who do not agree with it, they are Thomas Szasz and his colleagues Jeffrey A. Schaler and Ron Leifer. 1. The first point: ââ¬Å"A disease scientifically is defined as a biological abnormality that affects living tissues. Trees can be diseased, plants, animals, and humans. A real disease is typhoid fever, we call it a literal disease. Spring fever sounds like a disease but it is not a disease. The whale is a real animal, but it is not a fish, it is a metaphorical fish. So when we say depression is not a disease, we do not minimize the human phenomenon suffering. It exists like the whale exists but it is not a disease.â⬠(Thomas S. Szasz Cybercenter for Liberty and Responsibility, 1998). 2. The second point: ââ¬Å"Treatment has got nothing to do with
Thursday, September 26, 2019
Civil Committment and the Mentally Ill Essay Example | Topics and Well Written Essays - 500 words
Civil Committment and the Mentally Ill - Essay Example In criminal trials, insanity defense refers to the defense plea adopted by the defendant as a plausible argument that exempts them from criminal liability as they were legally insane during the commission of the crime. According to a study quoted in Waterloo Cedar falls Courier about 1% of the defendants, who are charged with a felony use the Insanity Defense in order to evade punishments or any legal repercussion as a result of the crime in the United States. And out of this 1%, only one-fourth of the people are successful in getting exempted from legal trial. After the defendant raises the insanity defense, the judge commits them to a competence examination, in order to check the validity of their claims. These evaluations are carried out in proper medical and psychological facilities and the individual is put through countless tests and the defendantââ¬â¢s social history is assessed. (Greene et.al, 2006, p. 222) Over the years, the insanity defense has attracted a huge amount c riticisms and controversies regarding its applicability and due to lack of development in this area. The most critical aspect that is raised by the insanity defense is the fact that it does not incarcerate dangerous criminals but send them off to a hospital facility, where they are given treatment and eventually frees them.
Wednesday, September 25, 2019
Concept Analysis Essay Example | Topics and Well Written Essays - 2250 words
Concept Analysis - Essay Example Health information can engulf even populace with superior literacy expertise. Approximately one third of the grown-up populace in the United States has restricted health literacy. The importance of Health Literacy is seen in recent days witnessing spreading diseases due to unawareness. The foundation for the selected topic is the prevailing global scenario. Many health problems have recently captured numerous lives and health with their dreadful hands across the world in many forms. Diseases like anthrax, swine flu etc have created great hue and cry universally, and studies have proved the reasons for it as inappropriate health literacy. This can influence the capability to block out multifaceted outline which takes away the ability to point out reasons and suppliers. The different services available can be identified only through health literacy. Health literacy will help contribute to health experience and private incidents leading to betterment in health sector. Personal health needs to handle persistent ailments. The consumption of medicines to cure various diseases can be done properly only through the edification on health information. Inhabitants with sufficient health literacy have improved health condition compared to folks with restricted health literacy proficiency. Populace with imperfect Health Literacy has a reduced amount of information regarding the significance of precautionary health procedures; always fail to handle different continual illness by self supervision. They may be unsuccessful in taking proper medication from appropriate facilities and at times even fail to follow remedial instructions given. Partial health literacy has been revealed to be connected with reduced health in a variety of surroundings and circumstances, and is predominantly common among the aged groups, people with least educational backgrounds, populace belonging to reduced socioeconomic conditions, and groups under the disturbance of various persistent
Tuesday, September 24, 2019
How Formative Assessment Supports Pupils' Learning Essay
How Formative Assessment Supports Pupils' Learning - Essay Example According to the Collins English Dictionary (2003), formative assessment is the ââ¬Å"ongoing assessment of a pupilââ¬â¢s educational development within a particular subject area. Sadler (1999) defines it as the kind of assessment whose intention is to generate feedback so as to improve and enhance studentsââ¬â¢ learning. This kind of assessment helps development of knowledge, skills and abilities and also enhances understanding without necessarily having to pass any final testing (Black and Wiliam 2003). Formative assessments are learner centered, which means that their goal is to help the student make maximum progress in the learning process. The assessments are appropriate for primary school children as they embrace the educational objective domains of Blooms taxonomy: psychomotor, affective and cognitive. The cognitive domain that is enhanced by formative assessments revolves around the comprehension, knowledge and ability to critically think about a subject. The psychomot or domain is all about the ability of the pupil to physically manipulate instruments in the learning process. The affective domain on the other hand relate to how learners are likely to react emotionally (Sadler 1998). Formative assessments incorporate all three Bloomââ¬â¢s Taxonomy domains in that they allow the pupil to develop not only recall skills, but also critical analysis skills in the learning process. There are two types of formative assessments according to Hall and Burke (2004). These are: planned formative assessments and interactive assessments. As the name suggests, planned formative assessments are those that are use to obtain tangible evidence on the way pupils think about a concept that they have been taught in class. These types of assessments are normally semi-formal and may be taken at the beginning or at the end of a certain topic. In these assessments, some assessment activities are prepared to furnish evidence that can be used to improve pupilsââ¬â¢ lea rning. The information that is elicited from such an activity is used to gauge the level of understanding of the students and to structure instruction so that knowledge and skill development are enhanced (Tuttle 2009). Interactive assessment takes place during the interaction process between teacher and pupil. Hall and Burke (2004) describe this assessment as the one that includes incidental and ongoing assessments which arise from learning activities and it cannot be anticipated. This means that interactive assessments can occur at any time as the teacher and pupils are interacting in a learning setting (Black, Harrison and William 2003). This assessment aims at improving learning through mediation and intervention. The teacher may notice or recognize the learnerââ¬â¢s thinking and can then respond to it appropriately. This kind of assessments is considered to be more pupil and teacher driven than it is curriculum driven. Unlike planned assessment that results in permanent infor mation, interactive assessment accrues information that is ephemeral (Sadler 1998). This means that the teacher can identify weak areas in the childââ¬â¢s learning and correct them quickly so as to avoid accumulated misconception on the learnerââ¬â¢s side. Formative assessments can be in the form of observations, worksheets, pop quizzes, journals and diagnostic tests. Observation involves the instructor making observations about studentsââ¬â¢
Monday, September 23, 2019
A Need to Extend the Social Responsibility to Modern Business Dissertation
A Need to Extend the Social Responsibility to Modern Business - Dissertation Example Royal Dutch Shell plc (shell) is Royal Dutch Shell plc is engaged in all principal aspects of the oil and natural gas industry, and also has interests in chemicals and additional interests in power generation and renewable energy. The Company operates in five segments: Exploration & Production, which searches for and recovers oil and natural gas around the world; Gas & Power, which liquefies and transports natural gas, and develops natural gas markets and related infrastructure; Oil Products, which include all of the activities necessary to transform crude oil into petroleum products; Chemicals, which produces and sells petrochemicals to industrial customers globally, and Other Industry Segments and Corporate, which include Renewables and Hydrogen. Shell is a global group of energy and petrochemical companies, operating in more than 140 countries and territories, employing more than 109,000 people. (www.Shell.com) In order to alleviate the fears and doubts from the minds of the people of various strata, the Researcher has undertaken the assignment on behalf of the Company to make a comprehensive report on the compliance or otherwise by the Company, of its Social and Environmental Commitments globally by adopting a suitable research method and analysis. Before commencing the research analysis into the concept of Corporate Social Responsibility we need to have a basic understanding of the concept, the purpose of our study of this concept, the hypothesis which this paper aims to analyse followed by a literary review.
Sunday, September 22, 2019
The National, Regional and International Consequences of the US Essay
The National, Regional and International Consequences of the US Invasion of Iraq on Egypt - Essay Example This war took place within twenty-one days and was characterized by maximum combat involvement. Economic and political impacts of the United States Invasion Before the war, Saddam and the Baath Party had ruled Iraq and resulted to dictatorship. Their success was attributed to the good opportunities that are in the country, like oil wells and good business. However, the invasion brought various changes on both the economic and political happenings in the Iraq state in relation to other countries for example Egypt (Austine 23). Economic effects of the American invasion to Iraq on Egypt The United States of America invasion on Iraq has caused many negative effects among a lot of countries all over the world. These impacts can be identified with the help of assessing trends threats, and opportunities in some countries in the Middle East for example, Egypt. According to analysts, Egypt government opposed the invasion in Iraq but continually offered its military as a major lever of the Uni ted States influence in the Middle East. It has been considered that Egypt is among the main counterterrorism allies that quietly supported the nuclear war on the Iraq state but publicly opposed it. This is due to their commitment in maintaining strategic relationship with the United States of American during the war (Gordon 21). Probably, their support for this war can be attributed to economic completion mostly in the world of business. Iraq had almost similar strengths as Egypt because of its availability of oil and the tourism industry in Egypt. According to most reports, the American invasion of Iraq had less economic impacts on Egypt than that many economists had foreseen. The main loss was experienced in the oil-food program that was between Egypt and Iraq and led to the governmentââ¬â¢s announcement of working to involve Egyptââ¬â¢s companies instead. These two countries had exchange programs based on their strengths but had to seize after the invasion. As it is well k nown, Egypt has various historical sites that improve its tourist attractions. The Iraq war caused the tourism industry in Egypt to experience quite a number of negative effects. Egypt is among those countries that rely on tourism as a major economic empowerment especially due to its opportunities. For instance, the availability of Pyramids of Giza that are known to attract tourists from all over the world. The war in Iraq resulted to negative thought about touring with most people thinking of nothing but war. Tourists had fear of visiting because as a result of war, most Egyptians had resulted to demonstrations (Keane 31). Egyptââ¬â¢s peak season is usually in March and April, which is consequently the same time of war. According to statistics, a forty percent reduction in trade activities and advantages was experienced in Egypt. This reduction has resulted to continued regression of the Egyptians economy with effects being felt by the ordinary Egyptians. According to numerous e conomists, this war has resulted to a close to eight billion dollars losses on Egyptââ¬â¢s economy leading to requests for the World Bank to fund the country. The main reason for this reduction is the detachment from Iraq, yet, for a long time Iraq has been the main Egyptââ¬â¢s trading partner. With the rise of war in iraq, a lot of
Saturday, September 21, 2019
Manchester Products Essay Example for Free
Manchester Products Essay Manchester Home expanded household furniture division by adding market leader PLFD ââ¬â Addition of 990 million in PLFD revenues ââ¬â Addition of established sales force, talented design teams ââ¬â PLFDââ¬â¢s Signature Style line very popular with consumers â⬠¢ Ability to combine PL design skills with MH engineering and manufacturing ââ¬â Manufacturing expertise and ergonomic designs â⬠¢ Concerns ââ¬â How to tie-in PLââ¬â¢s bold designs with MHââ¬â¢s conservative style ââ¬â Customer confusion over new brand name 5Cââ¬â¢S OF THE ACQUISITION Company â⬠¢ Companiesââ¬â¢ strengths and weaknesses complement each other 5Cââ¬â¢S OF THE ACQUISITION Customers â⬠¢ Target consumers ages 34-55; Income over $50K ââ¬â MH consumers are categorized as conservative elegance ââ¬â PLFD consumers are more fashion-conscious, trend setters ââ¬â Will need a way to reach both customer segments â⬠¢ Results from target consumer surveys ââ¬â Low brand loyalty ââ¬â 60% would change brands ââ¬â High information search ââ¬â Style, design, quality, comfort most important qualities ââ¬â all covered by MH/PL ââ¬â PL has high brand awareness, almost double that of MH, will help to co-brand them to raise awareness for MH 5Cââ¬â¢S OF THE ACQUISITION Collaborators â⬠¢ Manchester already has network of office distribution channels, now they gain access to household distribution channels through Paul Logan. ââ¬â PL sales force has strong ties to leading distributions channels ââ¬â PL strength in upscale furniture stores, specialty stores, department stores â⬠¢ Strong relationship with buyers ââ¬â Concern over brand going away, necessary to create a smooth brand transition so consumers make the switch â⬠¢ Push strategies important to build strong relationships with distribution network ââ¬â 90% of PL shipments include Purchase Allowances 5Cââ¬â¢S OF THE ACQUISITION Competitors â⬠¢ Paul Logan was market leader â⬠¢ Household Furniture Industry $36.64 billion in 2004; positive % growth projections A mature industry Large number of corporate consolidations Low-cost imports from Asia/Mexico moving into higher price levels Domestic companies ready to attack the vulnerability of the new brand and position â⬠¢ We need strong advertising and marketing mix â⬠¢ Many competitors have company owned stores ââ¬â Crucial to leverage our distribution channels to gain market access 5Cââ¬â¢S OF THE ACQUISITION Context â⬠¢ Office furniture sales growth tied to employment growth and new business formation. ââ¬â Burst of dot.com bubble and recession have decreased demand for office furniture â⬠¢ Rise in ââ¬Ëteleworkingââ¬â¢ could increase demand for home office â⬠¢ Demand for home furniture is tied to new home construction and home sales. â⬠¢ Innovative and stylish products to bolster demand MOVING FORWARD ANALYSIS OF FUTURE BRANDING: OPTIONS â⬠¢ Drop the Paul Logan name right away ââ¬â Losing their current brand awareness ââ¬â Need to educate customers ââ¬â Strong distribution channel relationships could be damaged â⬠¢ Keep using the Paul Logan name for the entire allotted three years ââ¬â Ad agency advises against this option, as they donââ¬â¢t want to allocate advertising dollars to a brand with a three year shelf life â⬠¢ Transition mid-point ââ¬â Leverage the Paul Logan name to build strong brand awareness for Manchester ââ¬â Continue to use the PL name in subtext for 1.5 yrs.; conduct consumer research to reevaluate after this time. ââ¬â Business recommendation to convert the name 100% to Manchester Home after 1.5 yrs. ANALYSIS OF FUTURE BRANDING: OPTIONS â⬠¢ Brand name transition: ââ¬â First 6 months: Manchester Home: The New Home for Paul Logan Furniture ââ¬â Following year: Manchester Home: The Home for Paul Logan Furniture ââ¬â After 1.5 yrs.: Conduct consumer research to reevaluate transition â⬠¢ Business recommendation is to drop the Paul Logan name â⬠¢ Want to ensure the Manchester Home brand has achieved a sufficient awareness before removing PL OUR FUTURE ADVERTISING STRATEGIES â⬠¢ Strong campaign is critical to the success of the new brand name ââ¬â $184 million allotted for 2005 ââ¬â Includes national and cooperative advertising for both PLFD and MH products â⬠¢ Push vs. Pull ââ¬â MH to allocate more $ towards Push advertising ââ¬â Heavy Push Pull the first 1.5 yrs. ââ¬â Marketing Communications mix to form long-term company image â⬠¢ Promotional Programs ââ¬â Purchase allowances ââ¬â Recommend amending the planned 2005 marketing expenditures to allow for purchase allowances. â⬠¢ Currently based on % of sales ââ¬â Due to brand transition, allocate a fixed amount to advertising to ensure the levels do not drop RECOMMENDATIONS â⬠¢ Continue to use the Paul Logan name to leverage brand awareness and channel partnerships â⬠¢ Focus strongly on both Push and Pull strategies the first 1.5 yrs. to communicate the acquisition ââ¬â Amend proposed 2005 advertising plan to incorporate more Push strategies, specifically Purchase Allowances that contributed to the success of the PL distribution network â⬠¢ After 1.5 yrs., the business goal is to transition brand officially to Manchester Home QUESTIONS?
Friday, September 20, 2019
Characteristics Of Being A Good And Efficient Leader
Characteristics Of Being A Good And Efficient Leader The definition of a leader has been defined by different people with different ways. Thus, what is the concrete definition of the word leader? Each of us will have our own different answer. In dictionary, the word leader has been defined as a person who influences a group of people. For me, leader is a captain of a group or a person who is able to organise, manage, make decision, analyse, negotiate, i Identify source of problem, solve problem, and train junior. A qualified leader at least must have good leadership and good relationship to ensure that his group is working well and smooth. Leadership is very important for a qualified leader, because leadership affects the performance of a team, an excellent leadership will improve a team performance. The relationship between leader and his team members is quite important for a qualified leader as well, because a good relationship will help the leader to communicate to his team members easily and send right massage to his team members. In fact, a team leader takes on the leadership role in his team. He or she has to direct, supervise, guide and instruct the team. These are the duties of a team leader to promote unity of his team and to ensure that his team to function as good as possible. As a leader, he or she inspires the team to action in anytime. Therefore, the team leader is the line of communication from upper management to tea m members. The leader completes his teams quality and advises his team members if there are rooms for improvement. Actually, characteristics of a good leader is a hot and interested topic. Online search found a lot of web sites are listing that Characteristics of a good and efficient leader. Why? Because a good leader will influences the performance of a team. No matter it is global leadership, corporate leadership or even a team leadership, the basic traits of a good leader are necessary and ordinary. Some additional positive characteristics may be required, just depending on their field of work or circumstance. Firstly, the essential characteristic of a good leader is self leadership, it is one of the essential characteristics and also is probably the most important characteristic of an efficient leader. It indicates that when a leader guides himself towards excellence, he will able to lead his followers on the same time as well. Beside that is personal leadership, personal leadership is the desire of one to take charge of his own life. Personal leadership is also about always becoming a good follower of his own principles. It is motivational leadership and all leaders must have. Thus, confidence is required and it automates confidence to be another characteristic. A leader must believes his own abilities, unless he ensures that he can not to guide his team effectively or actually he has no abilities to guide a team. The team members will be highly motivated to do a good job when the leader is confident in his or her abilities and themselves at the same time. So that, enthusiastic will be a nother characteristic. Why say so? Because, if the good leader is enthusiastic about his work, cause and also his role of leader, the leader will able to guide his team effectively. A leader needs to be a source of inspiration and to be a motivator to his team members. Even though the responsibilities and roles of a leader may be different, but all kinds of leader should not be afraid to roll up their sleeves and get dirty. In addition, a leader must ability to think and analyse, all leaders must able to analyse problem of source, take corrective action to solve problems and move on to the next challenge. That is why an analytic mind is needed. A good leader is necessary to be knowledgeable about his field of work, because knowledgeable leader will be able to guide and solve problems when he is thorough with his field of work. This is also an important characteristic for leadership. Another characteristic of a leader is strategic of leadership, this is an important leadership skill. It includes planning and organizing of activities allotment of tasks and effective time management. A good strategic leadership can influence the performance of leader. To lead a team, the leader must be trustworthy. Actually, a true leader cannot exist if he or she does not get the trust of followers. It means that honesty and integrity are necessary. Without integrity and honesty, followers will feel that they must not fol low the leader. As a good leader, they must have good practices. So, trustworthiness is an essential characteristic, all leaders should based on the trust of other people. Furthermore, being congruent will become a characteristic of a leader. A leader who wants to guide his followers, he has to obtain the trust of followers first. Congruency means all your thoughts, words and actions are entirely aligned. A leader should be able to convince his followers successfully and make his followers understand what their have to change. Moreover, a good leader must have good attitude, even in the worst of situations. He should instill the same on his followers by appropriate motivation or solving problem techniques. Attitude of a leader is a very important determinant in the successful overcoming of leadership challenges. The last essential characteristic of leader is respect. It is necessary and it must be mutual, respect must not be restricted only from the followers to the leader. All team members should be respected, if the leader sets an example for this, all the team members will follow undoubtedly. This must be a vital and important characteristic of a strong leader. In conclusion, these characteristic which just described are essential for a good leader. They can be native traits but they can also be developed and strengthened. No matter these characteristics are natural or developed, a good leader must always ensure to make the best of these traits and to achieve excellence. A good leader does not consider himself is the boss when he is working. A leader needs rather to view him as part of the team, equal to all other group members. Leaders should consider themselves as part of the team to obtain the respect of their team members. Followers will be more willing to help the leader and try to give the best as they have, they will have a sense that the team is one and everyone is in together. Question 2 Describe the qualities you will feel justified in calling an individual a successful person. How does a person can be defined successful? This is a confusable question. Why say so? Because, different peoples will have different answers, they have their own answer about how does a person can be defined successful. No matter adults or children, all of them will have the same deep appetency in their life which is to be successful in their life. In our daily life, we ceaselessly experience successful and unsuccessful, but most of us still do not know what successful really is. Usually, successful can be defined as an achievement of desired, feeling of pleasure or enjoyment. We can achieve success either from wealth, career, health, material things, relationship, power or discoveries. Some people will say that making a lot of money every month is successful, because they see wealth as a source of successful and they think that they can solve problem by money. But, some people say that wealth is not successful and not all in their life because cannot solve the entire problem. They think that career success is the true successful, career success can give them guarantee. Besides that, some people will say that they find success in bringing up their children. By contrast, some people describe success as helping other people who need to help. They need to feel that they are doing something useful with their lives to other people, concentrating on giving and helping can afford them this feeling and also help themselves achieve successful. For me, a successful person is who believes in hard work. An example of successful person is Bill Gate because Bill Gate is the person who believes in hard work, he also believes that if you are clever and know how to make use of your intelligence, you will be able to achieve anything. Those qualities helped him to get top in their life. After Bill Gates dropped out from Harvard, Bill Gates formed Microsoft. Vision of Microsoft is A computer on every desk and Microsoft software on every computer. Bill Gates is visionary and he will work very hard to achieve his vision and what he wants. If you believe in hard work, you can to achieve anything, if without believing in yourself you already lose the game. In everything you do, you must with full of confidence. A person who is successful, they must able to make decisions, take action, differentiate right or wrong action, they should take it. Actually, either way is better than making no decisions or taking no actions at all. As Franklin Roosevelt said: It is a common sense to take a method and try it. If it fails, admit it frankly and try another. But above all, try something. Moreover, a person who is successful must have positive attitude, because a negative attitude can very damaging to a person. If the person is thinking positive, mean that he opens new doors every day. It can open your mind to accept ideas and create great relationships. In addition, I think that a successful person must be able to redefine failure. A successful person, you should also to be brave to take the risk to solve problems when you are facing in the future. As a successful person do not easy to give up and we have to remember never give up and do not be afraid to facing any challenges. For example, the world class badminton player of Malaysia Dato Lee Chong Wei, he will just concentrates on the badminton when the adversary strikes back to him. Every day he will a lot of training and ceaselessly improves himself. He will know what should do and what should not to do in their daily life. Thus, he must have wholehearted. To be enthusiastic about what you do. Be committed to your life and everything that you set out to accomplish in your life and also devote yourself to your family, friends, and community. To commit yourself being the best that you can be. Why are there only a few people successful in the world? It means that only few of us are really achieve success in life? That was they give up easily. Try to succeed and do not give up. In conclusion, I will think that a person who is successful must believe in hard work and never stop to try your best for being a successful person. No matter you measure successful by wealth, career, health, material things, relationship, power or discoveries. To be enthusiastic about what you should do and put your effort in everything to hit the objective that you want to hit. Whether you are successful or not, the essence is you must be respectful and have good manners although others around you may not. It is the most important and interesting. If you are true successful person, you have to start the way to success and try to his best day by day.
Thursday, September 19, 2019
Case Study: Why do People Migrate? :: Immigration Mexico USA Wages Work Essays
Case Study: Why do People Migrate? The Migration and Culture class field trip to Nogales Mexico was an educational trip. It served to give the students a greater understanding of other cultures and the migration issues that affect them. The mere sight of Nogales makes it easy to see the disorganization. The terrain and apparent lack of city planning makes the thought of reorganization a daunting task. The many houses that rest precariously on the hillsides are densely packed. The poverty is striking and the businesses, houses and lack of services are the obvious signs. The trip to one of the maquiladoras was informative. It was clean and well organized. In appearance it was no different than many of the assembly line production companies in the US. What was markedly different was the wage. Our tour guide hesitantly told us the wage was approximately eight US dollars a day. When comparing eight dollars a day to the eight dollars an hour paid by assembly lines in the US it is easy to see why people would be inclined to immigrate to the US in search of a higher wage. The maquiladoras are a strip of foreign owned factories that provide employment for the Mexican population. Maquiladores came about in 1965 as an attempt to combat Mexicoââ¬â¢s unemployment problem. In exchange for providing jobs, these industries are given tax exemptions and very little regulations are placed on them (Falcoff 9). The impact maquiladoras have on immigration are both direct and indirect. The direct impact is that it created an immigration problem in Nogales. People from the interior of Mexico flooded Nogales in search of employment (Trujillo). These new immigrants needing a place to live, haphazardly built houses and communities on property that was not theirs and became squatters. These communities have developed into what is referred to as colonias or colonies in Spanish. In questioning one of the colonia residents, it became apparent that property ownership and systematic records had become a problem. She indicated that she had previously been making payments on the property but had ceased to do so. She went on to say that the person she was paying had not been the rightful owner of the property and that she was told to stop paying. When asked who had told her to stop paying she indicated that it was an attorney who was going around trying to help the people of the colonias.
Wednesday, September 18, 2019
Catch 22 :: essays research papers
à à à à à Catch-22 by Joseph Heller is an interesting novel in the fact that throughout the entire novel the plot seems to go nowhere. It just seems to be a bunch of events strung together through the main character Yossarian. These events, however powerful, donââ¬â¢t seem to lead to much of a point, until the reader finishes. Then, out of nowhere, comes the meaning behind the book. Heller does a great job of ending the book. By having Yossarian run away the meaning of the book is set in stone. Catch-22 is a novel which discusses the fact that the importance or value of one thing to one person, could be completely different to another, like in the cases of selling goods over human life with ex-P.F.C. Wintergreen, Milo Minderbinder with his wheeling and dealing and Doc Daneeka and his description of what it takes to get home. Each character in the novel seems to have a certain way in which they judge their power, importance, worth and/or duty. Throughout the entire book, the only character that resembles someone with good opinions of himself is Yossarian. He appears to be the only character that realizes the insignificance the war effort is because almost all the people in the novel are fighting for the wrong reason. He says, ââ¬Å"Am I supposed to get my ass shot off just because the colonel wants to be a general?â⬠. Other characters, like ex-P.F.C. Wintergreen respond to questions with answer that seem to make no sense. In the case where Yossarian is requesting that Wintergreen get them off the flight to Bologna because they will probably die, Wintergreen comes back with the unbelievable answer ââ¬Å"Then youââ¬â¢ll have to be killed. ...if your destined to be killed over bologna, then youââ¬â¢re going to be killed, so you might just as well go out and die like a man. I hate to say this, Yossarian, but youââ¬â¢re turning into a chronic complainerâ⬠. The importance of life is gone. Ex-P.F.C. Wintergreen is more concerned about peddling his goods throughout the war then he is about the life of a friend. Another strange character in the story was Milo Minderbinder. The person originally brought in to run the mess hall, who later had his own business, M & M Enterprises, in which he traded things in order to gain stuff for himself. He collected stuff, like art and sculptures, that would be really valuable after the war. The only problem with this, is that it got to the point that he would trade things valuable to the
Tuesday, September 17, 2019
Love :: essays research papers
Love Upon examination of the vast amounts of theories on love I can only find myself in a more convoluted state. Love is in fact a great mystery to me, and I have only achieved frustration in trying to explicate it. In Scott Peck's book The Roadless Traveled there are a conglomerate of avenues that are explored within the topic of love. It is here that some insight is expressed to me about this perplexing subject. Although I do feel that actual life experiences that I have been involved in recently have attributed to a better understanding of this love phenomena, some of the ideas that are expressed in this book were of tremendous merit. I find it almost prophetic that this assignment happens to fall into the same time frame as when I am at a point of heightened curiosity on this subject of Love. Why at this very moment I find myself questioning my current status with a newfound relationship. I can't help but to assume that I have found "Genuine Love" because of an overwhelming feeling of vivacious content upon finding a seemingly perfect union. Peck's views on love in this respect differ from what my thoughts have conjured up as such. And I can only infer that the words of a reputable author and doctor are more legitimate than mine. It is here that I must stop to apologize to you, Louis, for making this part of the paper far too personal than necessary. "Falling in Love" is a common myth in this society. The actual act of falling in love, according to Peck, is a misconception. There is a differentiation to be made between what is termed "falling in love" and the act of real loving. Peck describes exactly what it is that we experience when We think we have fallen in love. Much of what Peck describes as falling in love has to do with what he calls "ego boundaries". These ego boundaries are established during infancy and continue to develop throughout the person's life. These boundaries represent an individual's limits with their mental and physical power, as they are perceived by the individual. With these ego boundaries many people feel confined into their own personal identity which generally creates a feeling of loneliness. A need to form a cathexis is then developed. Peck describes it thus, "The essence of the phenomenon of falling in love is a sudden collapse of a section of an individual's ego boundaries, permitting one to merge his or her identity with that of another person. The Sudden release of oneself from oneself, the explosive pouring out of oneself into the beloved, and the
Monday, September 16, 2019
Neuropsychology of Language
The neuropsychological approaches are gradually leading to important discoveries about many aspects of brain function, and language is no exception. Progress has certainly been made in identifying the structure and form of language(s), its universal features, its acquisition and so on, but, until recently, this work has tended to ignore pathologies of language. More recently, neuropsychologists have begun to draw parallels between aphasic disorders and disruption to specific linguistic processes. This work provides evidence of a double dissociation between semantic and syntactic processes, and illustrates clearly that no single brain ââ¬Ëlanguage centreââ¬â¢ exists. The development of research tools such as the Wada test, and, more recently, structural and functional imaging procedures, has enabled researchers to examine language function in the brains of normal individuals. This work considers the various ways that scientists have examined lateralisation, and the conclusions that they have drawn from their research. The work supports the view that language is mediated by a series of interconnected cortical regions in the left hemisphere, much as the 19th century neurologists proposed. In addition, this work considers recent explorations of language functions in the brain using neurophysiological techniques. At first glance, the two cortical hemispheres look rather like mirror images of each other. The brain, like other components of the nervous system, is superficially symmetrical along the midline, but closer inspection reveals many differences in structure, and behavioural studies suggest differences in function too. The reason for these so-called asymmetries is unclear, although they are widely assumed to depend on the action of genes. Some writers have suggested that they are particularly linked to the development in humans of a sophisticated language system (Crow, 1998). Others have argued that the asymmetries predated the appearance of language and are related to tool use and hand preference. Scientific interest in language dates back to the earliest attempts by researchers to study the brain in a systematic way, with the work of Dax, Broca and Wernicke in the 19th century. Since then, interest in all aspects of language has intensified to the point where its psychological study (psycholinguistics) is now recognised as a discipline in its own right. In 1874 Karl Wernicke described two patients who had a quite different type of language disorder. Their speech was fluent but incomprehensible and they also had profound difficulties understanding spoken language. Wernicke later examined the brain of one of these patients and found damage in the posterior part of the superior temporal gyrus on the left. At the same time as characterising this second form of language disorder, which we now call Wernicke's aphasia, Wernicke developed a theory of how the various brain regions with responsibility for receptive and expressive language function interact. His ideas were taken up and developed by Lichtheim and later, by Geschwind. In Broca's aphasia, as with most neurological conditions, impairment is a matter of degree, but the core feature is a marked difficulty in producing coherent speech (hence the alternative names of ââ¬Ëexpressive' or ââ¬Ënon-fluent' aphasia). Broca's aphasics can use well-practised expressions without obvious difficulty, and they may also be able to sing a well-known song faultlessly. These abilities demonstrate that the problem is not related to ââ¬Ëthe mechanics' of moving the muscles that are concerned with speech. Wernicke's first patient had difficulty in understanding speech yet could speak fluently, although what he said usually did not make much sense. This form of aphasia clearly differed in several respects from that described by Broca. The problems for Wernicke's patient were related to comprehension and meaningful output rather than the agrammatical and telegraphic output seen in Broca's patients. Broca's and Wernicke's work generated considerable interest among fellow researchers. In 1885, Lichtheim proposed what has come to be known as the ââ¬Ëconnectionist model of language' to explain the various forms of aphasia (seven in all) that had, by then, been characterised. Incidentally, the term ââ¬Ëconnectionist' implies that different brain centres are interconnected, and that impaired language function may result either from damage to one of the centres or to the path-In Lichtheim's model, Broca's and Wernicke's areas formed two points of a triangle (Franklin 2003). The third point represented a ââ¬Ëconcept' centre where word meanings were stored and where auditory comprehension thus occurred. Each point was interconnected, so that damage, either to one of the centres (points), or to any of the pathways connecting them would induce some form of aphasia. Lichtheim's model explained many of the peculiarities of different forms of aphasia, and became, for a time, the dominant model of how the brain manages language comprehension and production. Three new lines of inquiry ââ¬â the cognitive neuropsychology approach, the functional neuro-imaging research of Petersen, Raichle and colleagues, and the neuroanatomical work of Dronkers and colleagues ââ¬â have prompted new ideas about the networks of brain regions that mediate language. Researchers in the newly emerging field of developmental cognitive neuroscience seek to understand how postnatal brain development relates to changes in perceptual, cognitive, and social abilities in infants and children (Johnson 2005). The cognitive neuropsychological approach has underlined the subtle differences in cognitive processes that may give rise to specific language disorders. The functional imaging research has identified a wider set of left brain (and some right brain) regions that are clearly active as subjects undertake language tasks. The emerging view from these diverse research approaches is that language is a far more complex and sophisticated skill than was once thought. A universal design feature of languages is that their meaning-bearing forms are divided into two different subsystems, the open-class, or lexical, and the closed-class, or grammatical (Johnson 1997). Open classes have many members and can readily add many more. They commonly include (the roots of) nouns, verbs, and adjectives. Closed classes have relatively few members and are difficult to augment. They include such bound forms as inflections (say, those appearing on a verb) and such free forms as prepositions, conjunctions, and determiners. In addition to such overt closed classes, there are implicit closed classes such as the set of grammatical categories that appear in a language (say, nounhood, verbhood, etc., per se), and the set of grammatical relations that appear in a language (say, subject status, direct object status, etc.). The work supports a model of hemispheric specialisation in humans. While it would be an oversimplification to call the left hemisphere the language hemisphere and the right hemisphere the spatial (or non-language) hemisphere, it is easy to see why earlier researchers jumped to this conclusion. Whether this is because the left hemisphere is preordained for language, or because it is innately better at analytic and sequential processing, is currently a matter of debate. The classic neurological approach to understanding the role of the brain in language relied on case studies of people with localised damage, usually to the left hemisphere. Broca and Wernicke described differing forms of aphasia, the prominent features of the former being non-fluent agrammatical speech, and those of the latter being fluent but usually unintelligible speech. Their work led to the development of Lichtheim's ââ¬Ëconnectionist' model of language, which emphasised both localisation of function and the connections between functional areas. Bibliography Brook, A. & Atkins K. (2005). Cognition and the brain: the philosophy and neuroscience movement. Cambridge, NY: Cambridge University Press. Crain, W. (1992). Theories of Development: Concepts and applications. Englewood Cliffs: Prentice Hall. Crow, T.J. (1998). ââ¬Å"Nuclear schizophrenic symptoms as a window on the relationship between thought and speech.â⬠British Journal of Psychiatry, 173, 303-309. Franklin, Ronald D. (2003). Prediction in Forensic and Neuropsychology: Sound Statistical Practices. Lawrence Erlbaum Associates: Mahwah, NJ. Johnson, M. H. (1997). Developmental Cognitive Neuroscience. Oxford: Blackwell Publishers Ltd. Johnson, M. H. (2005) Developmental Cognitive Neuroscience. Blackwell, Oxford, 2nd Ed. Kolb, B., & Whishaw, I.Q. (1996). Fundamentals of human neuropsychology, 4th edition, New York: Freeman and Co. Maruish, Mark and E. Moses, Jr. (1997). Clinical Neuropsychology: Theoretical Foundations for Practitioners. Lawrence Erlbaum Associates: Mahwah, NJ. Loring, D.W. (1999). INS Dictionary of Neuropsychology. Oxford: Oxford University Press. Stirling, J. (2002). Introducing Neuropsychology. Psychology Press: New York. Ã
Rhetorical Essay: the Market for a Yale Women’s Eggs
Mathew Rios, Alberto Rosado 9/10/12 Jessica Cohenââ¬â¢s ââ¬Å"The Market for a Yale Womenââ¬â¢s Eggsâ⬠first appeared in the New Journal in 2001. In this essay Jessica talks about her experience trying to be an egg donor. With narration of her experience and the research she did on the topic, Jessica writes an interesting informal essay. As a child Jessica used to read ââ¬Å"Where did I come from? â⬠but now itââ¬â¢s out of date replaced by ââ¬Å"Mommy Did I Grow in Your Tummy? : Where Some Babies Come Fromâ⬠This shows the changing ways of baby conception.She informs the reader that the infertility industry is a $2 Billion a year industry. It shows how many people actually do this type of thing a year. Jessica informs the reader about this to show how often this occurs. Not only does Jessica tell the reader about egg donations but also her own experience on the subject. This particular anecdote shows how business like people can be when discussing the conc eption of their baby. ââ¬Å"Can you tell me about your academic performance? What are you taking at Yale?What high school did you attend? â⬠Jessica compared David and Michelle (the couple who had sent out the ad) to a modern day Darwinist. Jessica began to have second thoughts because ââ¬Å"It would lead to the creation of a child with to many expectationsâ⬠She did not have to worry because she was not accepted as the donor. Jessica ends the essay with a scenario where the adult is trying to explain to them how hard they worked. The child would turn to them and utter the same parting words. The parents said to her ââ¬Å"ho-humââ¬
Sunday, September 15, 2019
Life History Essay
The purpose of getting a life history on a person is to be able to ââ¬Å"paint a pictureâ⬠of who they are. The information from the history should not just be a random collection of facts. The history should be an account of the personââ¬â¢s life story, including important themes in their life that reflect the development of their personality and their relationships with other people. Life histories play key roles in psychological treatment and research. While the following guidelines are rather typical of the sort of questions asked, interviews vary considerable depending on whoââ¬â¢s doing them and why. Your purpose in conducting this interview is educational. While your objective is collecting the same information you might in a real clinical or research situation, keep in mind this is a didactic exercise. Therefore, be willing to sacrifice sensitive or upsetting information to protect the comfort and privacy of your subject. Be sure to let him or her know (s)he does not need to talk about anything (s)he doesnââ¬â¢t want to. While doing the interview, pay careful attention to how the person is responding to your questions, and always be respectful of his/her privacy. If it seems like the person is uncomfortable discussing some aspect of his or her life, donââ¬â¢t press for an answer. Move on to the next part of the interview. Each of you will interview a classmate. Then, that classmate will interview you. I expect each interview to take about 1.5 hours. You should take notes, and if you have access to a tape recorder, I would recommend using it too. Be sure to check your recorder to see that it is working, though, and take notes anywayââ¬âmachines fail at the darndest times! Be sure to print a copy of these guidelines and bring them with you. Donââ¬â¢t be afraid to refer back to them for questions and guidance about topics to broach. This assignment is due on 5/29/00. Beginning the Interview It is best to begin the interview by giving the person free range to tell their life story. Where they start their story and how they tell it will reveal what immediately strikes them as important. So begin the interview with the following instructions: ââ¬Å"Iââ¬â¢d like to find out about your life history. Could you tell me about it? Describe it to me as if you were telling me your life story.â⬠Most people will leave out certain details. If the details seem important, use open-ended questions to probe for more information, such as ââ¬Å"And then what happened?â⬠or ââ¬Å"What did you do after that?â⬠We also want to find out about how people thought and felt about what happened to them. If they omit this information, use such questions as ââ¬Å"How did you feel about that?â⬠or ââ¬Å"What did you think about that at the time?â⬠The Importance of Reflection It is best if the interview doesnââ¬â¢t turn into a ââ¬Å"question and answerâ⬠session where you ask questions and they give short answers. Itââ¬â¢s difficult to do, but try to turn the interview into a smoothly flowing discussion. Use the technique known as ââ¬Å"reflectionâ⬠to encourage a person to talk more about something. Simply reflect back to the person some important aspect of what they have just said. You may simply repeat the exact words the person used, or you may sometimes add in some thought or feeling that you detected in what the person said. Reflections are NOT in the form of a question. If you can do this effectively, you wonââ¬â¢t have to bombard the person with all of the questions listed above. Here are some examples: Person: ââ¬Å"My father and I used to play ball in the backyard. We had a lot of fun with that.â⬠You: ââ¬Å"You and your father had some fun times.â⬠Person: ââ¬Å"When he said that to me, it really annoyed me. I couldnââ¬â¢t believe my best friend would say something like that.â⬠You: ââ¬Å"He could really get you angry with his remarks.â⬠Other examples of open-ended reflections might be: ââ¬Å"I guess you really enjoyed that time of your life.â⬠ââ¬Å"It sounds like it upset you when he said that.â⬠ââ¬Å"It seems like that was a very important event for you.â⬠When a question does seem necessary, open-ended questions are most likely to lead to richer responses (rather than ââ¬Å"yesâ⬠or ââ¬Å"noâ⬠). Open ended questions invite answers that are descriptive and elaborative, rather than monosyllables. ââ¬Å"How do you feel about schoolâ⬠is an open-ended questions, because it allows great latitude in the response that might be given. ââ¬Å"Do you like schoolâ⬠would merely prompt a few word response; similarly, a multple-choice format limits responses. There are situations where open-ended questions are not optimal (e.g., ââ¬Å"When and where were you bornâ⬠is fine). But usually, the goal is getting the subject to talk about important topics, rather than answer hundreds of questions you think might be relevant. Open-ended questions are usually best for initiating a flowing conversation. Areas to Explore People will also leave out certain topic areas that are important. You will need to ask questions about this areas, but always try to do so in an open-ended way that allows people to express themselves freely, according to what strikes them as important. You should get information about all of the following areas. Start with the first open-ended question, and work your way down to the following questions, if needed. 1. The history of parents and grandparents: ââ¬Å"Tell me about your parentsââ¬â¢ lives.â⬠ââ¬Å"What can you tell me about your grandparentsââ¬â¢ lives?â⬠(Inquire about their lives before and after marriage, including important events in their life, their childhood, education, occupation, ethnic and religious background. If they leave out a parent or grandparent, inquire about them) 2. Early childhood (before school): ââ¬Å"What do you know about yourself as a baby.â⬠ââ¬Å"What was your motherââ¬â¢s pregnancy like?â⬠ââ¬Å"Were there any family stories or jokes about what you were like as a child?â⬠ââ¬Å"What are your earliest childhood memories?â⬠ââ¬Å"What do you remember or know about major early events in your life ââ¬â like eating habits, walking, talking, and toilet training?â⬠ââ¬Å"Were there any stresses in your family at that time?â⬠3. School Years: ââ¬Å"What were your early years in school like?â⬠ââ¬Å"Do you remember the very first day of school?â⬠ââ¬Å"How did you do at school work through the years?â⬠ââ¬Å"What were your relationships like with your teachers and schoolmates?â⬠ââ¬Å"Who were your friends and what sorts of things did you do with them?â⬠4. Adolescence: ââ¬Å"What was your adolescence like?â⬠ââ¬Å"How was your social and school life at that time?â⬠ââ¬Å"When did you enter puberty. How did your life change then? ââ¬Å"What was your relationship with your friends during your teen years?â⬠ââ¬Å"What was your relationship with your family at that time?â⬠ââ¬Å"When did you start to date, and what were those relationships like?â⬠5. Adult Life (including college): ââ¬Å"What has been important about your adult life?â⬠ââ¬Å"What have your adult relationships with friends and co- workers been like?â⬠ââ¬Å"What has your relationship with your (husband/wife, fiance, boyfriend/girlfriend) been like? ââ¬Å"What types of jobs have you worked at, and what did you think about those jobs?â⬠ââ¬Å"What was college like for you?â⬠ââ¬Å"What hobbies or other interests do you have?â⬠6. Family Information (if you didnââ¬â¢t already get this info): ââ¬Å"What has your family been like over the years.â⬠ââ¬Å"Tell me about your brothers and sistersâ⬠(age, education, marital status, their relationship with the interviewee) ââ¬Å"How would you describe the personalities of the people in your family?â⬠ââ¬Å"What role did each parent take in raising you?â⬠ââ¬Å"Were there any emotional problems in the family, or conflicts between family members?â⬠ââ¬Å"Did your family ever move? What was that like?â⬠ââ¬Å"What is the ethnic background of your family?â⬠ââ¬Å"What has been your religious upbringing, and your attitudes about religion?â⬠ââ¬Å"Describe your own family.â⬠(relationship with children, how children relate to each other and spouse, typical activities, etc.) Questions & Answers about the Assignment Here are some questions a classmate asked. I felt it might be helpful to share them, and my replies, with the rest of you. I do have a tape recorder ( I am not sure if I trust it very much, what if it doesnââ¬â¢t pick up the voice or ), Point the mike at the interviewee, talk a few minutes, then play it back to see if itââ¬â¢s working. If your partner has a tape, use it too as a back-up. I actually do use two sometimes in my work. And, of course, take notes in case the darn thing decides to fail when you need it most. but what should I do about notes? (i donââ¬â¢t write very fast at all) And how can/should an interviewer take notes so as to minimize its interference in the interview? Learning to use shorthand is part of learning to be a good inteviewer. Just write what you must to reconstruct the conversation. You can go back and fill in the details later. Itââ¬â¢s ok to ask the interviewee to wait while you write (ââ¬Å"just a second, pleaseâ⬠¦ok, thanks, go ahead.â⬠). This is less disruptive than you might imagine, as long as you donââ¬â¢t do it too frequently. Are we supposed to ask All the questions? That is a stupid lead-in on my part, but it seems like that would take longer than 1.5 hours. I actually expect the interviews will run about 2 hours, but if I assigned that people would run over anyway, so I thought Iââ¬â¢d do you a favor by starting with a lower expectation. Try to pace yourself. If you find youââ¬â¢re spending lots of time on one part of your subjectââ¬â¢s life, move the conversation (ââ¬Å"great. Thanks. Now, could you tell me about [new topic]â⬠). I donââ¬â¢t expect anyone will follow the guidelines exactly. Thatââ¬â¢s why Iââ¬â¢m offering them as guidelines rather than a rigid set of questions. Are there wrong responses to this interview? I would not want to ramble and be a bore. I like to talk/share. I am trying to decide if I should warn my interviewer. That really is the interviewerââ¬â¢s jobâ⬠¦to politely redirect the subject when (s)he rambles off. Some of that is inevitable, even desirable, but it is important to redirect things when the subject lapses into long, relatively unimportant tangents. Besides what if you just donââ¬â¢t remember or it takes too long to try and remember or you only remember vaguely or if things are difficult to explain? Well, you wonââ¬â¢t be able to say much about those things. Thatââ¬â¢s ok. Itââ¬â¢s not as though I think about these things all that often or in specific articulable terms, ya know? Or do I sound like an idiot? No, I feel the same way about some of the questions. For example, I donââ¬â¢t know much about my toilet training. I suppose if I was still in diapers at age 4 I probably WOULD know about it, so often, when something in early childhood is unremarkable, we donââ¬â¢t know much about it. Thatââ¬â¢s fine. Should we try to think of responses? What should/can I do to be a better interviewee/interviewer? I donââ¬â¢t think you need to prepare to be interviewed. Of course, thereââ¬â¢s no harm in thinking a little about the questions ahead of time, but I think it would be a poor idea to prepare your responses. That wouldnââ¬â¢t give your interviewer a very natural experience. By the way, what is the age range difference between what is referred to in/by Schoool Years versus Adolescence? School Years generally refers to middle- and later-childhood, say the ages of 6-12. Also, What is due on the 26nd? Notes? A write-up of some sort? Q & A transcript type record? No. Both interviews should be complete by that date. Your write up will be due on the last meeting of class. You say this is a Didactic experienceââ¬âas opposed to what? What sort of instruction is that intended to give us? Did you mean to convey anything specific, may I ask? Not to sound suspicious, just trying to understand. Iââ¬â¢m trying to remind you that this is a learning experience. So, if you start discussing things that are upsetting to the interviewee, or (s)he is reluctant to discuss, I wouldnââ¬â¢t encourage you to ââ¬Å"pushâ⬠or ââ¬Å"dig deeper.â⬠One might do such things during a professional assessment, or as a therapist, but this is an educational experience for the interviewer, not a clinical intervention to benefit the interviewee. Consequently, itââ¬â¢s appropriate to sacrifice information that be essential in a different context. For example, if you find that your subject was beaten as a kid, you might not push for details in this exercise (that would be an unwarrented intrusion), although I certainly might in a ââ¬Å"realâ⬠clinical or research interview.
Saturday, September 14, 2019
Corporate Governance in Australia After Hih Essay
In the light of various corporate scandals, regulatory bodies and corporate governance were placed under pressure by shareholders and stakeholders to form a tighter grip in governing corporationââ¬â¢s conduct. The obligations, roles and responsibilities of companyââ¬â¢s stewards are under scrutiny of Corporations Act, listing rules, countryââ¬â¢s code of corporate governance, ethics as well as social standards. At the same time, advocates of market forces as a replacement to regulations and legislation continue to pursue for market deregulation and liberalisation based on the believe that government intervention will only distort resources allocation and hinder market growth. The collapse of Australian company HIH Insurance Ltd (HIH) in 2001 was analysed in terms of its conduct and compliance to the Corporations Act, listing rules as well as code of corporate governance as released by the Australian Securities Exchange (ASX) Corporate Governance Council (CGC). Reforms in regulations and the Corporate Governance Principles and Recommendations 2007 by ASX CGC were used to recommend best practices in corporate governance that should have taken place in HIH. Lastly, the effect of globalization and challenges to good corporate governance resulting from globalization were discussed from the perspective of national government, regulatory bodies as well as the corporation itself. Justice Neville Owen, The Royal Commissioner in the HIH Royal Commission Report described corporate governance as the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled in corporations, and the Australian Securities Exchange (ASX) Corporate Governance Council added that corporate governance relates to and influences how the objectives of the company are set and achieved, how risk is monitored and assessed, and how performance is optimized (The HIH Royal Commission, 2003; ASX Corporate Governance Council, 2007). The meaning of corporate governance has evolved over time but, in the strictest sense, is linked to the legislation that allows its existence. The law sets forth a companyââ¬â¢s rights and responsibilities but this can differ from country to country. However, it is generally accepted that corporate governance extends beyond the law to include a consideration of best practices and business ethics (Birt, Chalmers, Beal, Brooks, Byrne, & Oliver, 2008). The structure of corporate governance as put forth by Farrar (2005) and represented in the figure below illustrates the relationship within the corporate governance structure: Figure: The structure of corporate governance (Farrar, 2005). The issues surrounding the rights and responsibilities of corporations are complex and ever changing as financial markets become more global, corporations become larger and more powerful, and societyââ¬â¢s perception of the corporate role changes. A school of thoughts advocates for market forces to be the regulator of the financial market. The neo? liberals assume that factor markets work efficiently without government intervention if property rights and competition are guaranteed. They considered government interventions as less efficient than market? based solutions and stresses that government interventions hamper private sector development and that government should concentrate on improving the enabling of business environment through deregulation (Emeseh, Ako, Okonmah, Obokoh, & Ogechukwu, 2010). Neo-liberalism challenges the conventional structuralist orthodoxy of government intervention by highlighting the negative effects of ââ¬Å"financial repressionâ⬠on economic growth and development. They refer financial repression to be the set of government legal restrictions preventing financial intermediaries in the economy from functioning at their full capacity. The distortion of domestic financial markets through rules and legislation is claimed to have negative impact on economic growth. In essence, corporations should be relied on in the main to self? regulate in the critical aspect of business activities. Neo-liberalism has prompted many countries to implement liberalisation and deregulation of their financial markets on the recommendations of the World Bank and IMF (Emeseh, Ako, Okonmah, Obokoh, & Ogechukwu, 2010). The significant role of market forces in contributing to good corporate governance and strong corporate performance has for some time been emphasised in economic literature on the corporation and corporate law. In fact, advocates consider the influence of market forces to be an effective substitute for formal legal regulation (duPlessis, McConvill, & Bagaric, 2005). However, through-out the last two decades, legislation reforms and corporate governance has also grown rapidly, particularly since the collapse of Enron Corporation in 2001 and the subsequent financial problems of other companies in various countries. As financial scandals continue to emerge, there will be continued attention placed on corporate governance issues, especially relating to transparency and disclosure, control and accountability, and the most appropriate form of board structure that may be capable of preventing such scandals occurring in future (Mallin, 2007). In pursuance of good corporate governance, an area of interest would be how directorsââ¬â¢ conduct and decisions should be in the best interest of the company, its shareholders and other relevant stakeholders. In this context, the agency theory is a very suitable framework that can describe the problems associated with the principal-agent relationship caused by separation of ownership and control between shareholders (the principal) and directors (the agent) in corporations. Information asymmetry, moral hazard, difference in attitude towards risk and difference in interest between shareholders versus directors are common agency problems that would usually be at the expense of shareholders (Mallin, 2007; Rahman, & Salim, 2010). For example, directors may have a wider range of economic and social needs (such as to maximize compensation, security, status and to boost their own reputation), while shareholders are interested only in maximizing return on investments. Furthermore, as directors are usually contracted to the company on short term basis, they may be eager for short-run payoffs within their contract term, whereas shareholdersââ¬â¢ interest would be based on long-term success. Australian companies have a unitary board structure and the regulatory framework for corporate governance and directorsââ¬â¢ duties is governed by (i) Statute (notably the Corporations Act), (ii) Common law rules (for example, cases relating to directorsââ¬â¢ duties), (iii) The companyââ¬â¢s constitution, and (iv) Guidelines issued by the Australian Securities and Investments Commission (ASIC) (Dibbs Barker Gosling Lawyers, 2003). ASIC plays a vital role in enforcing and regulating company and financial services laws to protect Australian consumers, investors and creditors. It acts as Australiaââ¬â¢s corporate regulator and administers various legislations including the Corporations Act 2001, Australian Securities and Investments Commission Act 2001, etc. (Australian Securities ; Investments Commission, 2010a). By the Corporations Act, general duties imposed on directors and officers of companies are stated as (i) the duty to exercise their powers and duties with the care and diligence that a reasonable person would have which includes taking steps to ensure they are properly informed about the financial position of the company and ensuring the company doesnââ¬â¢t trade if it is insolvent, (ii) the duty to exercise their powers and duties in good faith in the best interests of the company and for a proper purpose, (iii) the duty not to improperly use their position to gain an advantage for themselves or someone else, or to cause detriment to the company, and (iv) the duty not to improperly use information obtained through their position to gain an advantage for themselves or someone else, or to cause detriment to the company (Australian Securities ; Investments Commission, 2010b). Beyond their legal duties and obligations, directors are also expected to meet commercial expectations in th e interest of stakeholders, which include, but are not limited to, shareholders. These commercial expectations essentially require directors to drive the bottom line and provide appropriate shareholder returns. Taking it a step further, many directors of today are challenged to embrace triple bottom line reporting and consider the economic, social and environmental ramifications of their corporate activities (Lucy, 2006). While the scope and laws governing the conduct of directors are wide and many, intentional and unintentional breach has shocked the financial market and public numerously. Till today, HIH Insurance Ltd (HIH) that went into liquidation in early 2001 is well remembered by almost every Australian as a collapse caused by mismanagement of the company, and various board members were brought to court on charges including giving misleading information with the intention of deceiving other board members and the companyââ¬â¢s auditor. As one of Australiaââ¬â¢s largest insurers, the company ran into debts of over AUD$5 billion and subsequent to the collapse, the government carried out an expensive exercise to underwrite many of the failed policies (Mallin, 2007). According to the HIH Royal Commission Report on the failure of HIH, it was concluded that investigators did not find fraud or embezzlement to be behind the collapse. The failure was more the result of attempts to paper over the cracks caused by over-priced acquisitions (notably FAI Insurance Ltd) and too much corporate extravagance based on a misconception that the ââ¬Ëmoneyââ¬â¢ was there in the business. The primary reason for the huge loses was that adequate provision had not been made for insurance claims and past claims on policies had not been properly priced. HIH was mismanaged in the area of its core business activity (Bailey, 2003). In chorus, the HIH Royal Commission report fundamentally states that the main reasons for the failure of HIH was poor management and greed characterised by (i) a lack of attention to detail and skills, (ii) a lack of accountability for performance, and (iii) a lack of integrity in the companyââ¬â¢s internal processes and systems (Nicholson, 2008). Justice Neville Owen further commented in the report on what was the essence of good corporate governance: ââ¬Å"The governance of a public company should be about stewardship. Those in control have a duty to act in the best interests of the company. They must use the companyââ¬â¢s resources productively. They must understand that those resources are not personal property. The last years of HIH were marked by poor leadership and inept management. Indeed, an attitude of apparent indifference to, or deliberate disregard of, the companyââ¬â¢s underlying problems pervades the affairs of the group. â⬠(The HIH Royal Commission, 2003). The above comment can be loosely translated to say that the directors of HIH have failed their duties. Notably, in April 2005, Mr Ray Williams, the former Chief Executive Officer (CEO) of HIH, was sentenced to four-and-a-half yearsââ¬â¢ jail with a non-parole period of two years and nine months. Mr Williamââ¬â¢s sentencing follows ASICââ¬â¢s successful civil penalty proceedings on the three criminal charges which Mr. William pleaded guilty to. The three criminal charges were (i) that he was reckless and failed to properly exercise his powers and discharge his duties for a proper purpose as a director of HIH Insurance Limited when, on 19 October 2000, he signed a letter that was misleading, (ii) that he authorised the issue of a prospectus by HIH on 26 October 1998 that contained a material omission, and (iii) that he made or authorised a statement in the 1998-99 Annual Report, which he knew to be misleading, that overstated the operating profit before abnormal items and income tax by $92. 4 million (Australian Securities & Investments Commission, 2005a). ASICââ¬â¢s HIH investigation also led to criminal prosecutions of 9 other former senior executives, including directors of FAI, HIH and associated entities on 31 Corporations and Crimes Act charges. Of high public interest was Mr Rodney Adler, a former director of HIH and the majority owner of FAI was sentenced to four-and-a-half yearsââ¬â¢ jail, with a non-parole period of two-and-a-half years, on four charges arising from his conduct as a director of the HIH group of companies in 2000. ASICââ¬â¢s chairman, Mr Jeffrey Lucy, in his public statement said, ââ¬Å"Mr Adler was in a position of trust as a director of HIH but he put his own financial interests before the interests of HIH shareholdersâ⬠(Australian Securities & Investments Commission, 2005b). Mr Adler was sentenced after pleading guilty to four criminal charges: (i) two counts of disseminating information on 19 and 20 June respectively, knowing it was false in a material particular and which was likely to induce the purchase by other persons of shares in HIH contrary to s999 Corporations Act 2001, (ii) one count of obtaining money by false or misleading statements, contrary to s178BB Crimes Act 1900 (NSW), and (iii) one count of being intentionally dishonest and failing to discharge his duties as a director of HIH in good faith and in the best interests of that company contrary to s184(1)(b) Corporations Act 2001 (Australian Securities & Investments Commission, 2005b). HIHââ¬â¢s disastrous business ventures in U. K. , U. S. , acquisition of FAI Insurance Ltd. nd the Allianz joint venture were identified as what ultimately brought HIH down. These instances of poor decision-making were caused by and reflect a poor corporate governance culture. Corporate governance issues identified included (i) an over-dominant CEO whose decisions were never questioned, (ii) an ineffective chairman who failed his responsibility to oversee the functioning of the board, (iii) an ineffective board who failed to grasp the concept of conflicts of interest, and was unable to monitor and does not question management performance, (iv) inappropriate conduct in remuneration setting and performance measurement (mostly made by Mr. Williams who, although not a member of the committee, attended all meetings by invitation), (v) an ineffective audit committee who showed no concern with risk management and internal control, and (vi) compromised auditor independence (the auditing company was Arthur Andersen and HIHââ¬â¢s board had three former Andersens partners ââ¬â one of them was the chair of the board yet continued receiving fees under a consultancy agreement. Andersens also derived significant fees from non-audit work which gave rise to a conflict of interest with their audit obligations) (Lipton, 2003). Subsequent to HIHââ¬â¢s collapse, The Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 (commonly known as ââ¬ËCLERP 9ââ¬â¢) came into force on 1 July 2004. CLERP 9 incorporated a number of recommendations made in the HIH Royal Commission Report. Reforms were made relating to (i) disclosure of directorsââ¬â¢ remuneration, (ii) financial reporting, (iii) au ditors independence, (iv) continuous disclosure, and (v) enhanced penalty provisions. CLERP 9 also deals with accounting standards, expensing of options, compliance controls, and encouragement of greater shareholder participation at meeting ââ¬â all of which represents a significant development in the corporate law framework (Deloitte Touche Tohmatsu, 2005; Alcoc, & Bicego, 2003). Prior to CLERP 9 coming into force, advocates of corporate governance were delighted with Australian Stock Exchange Limited (ASX) release of the ââ¬Å"ASX Corporate Governance Councilââ¬â¢s (CGC) Principles of Good Corporate Governance and Best Practice Recommendationsâ⬠in March 2003. ASX CGC adopted the same ââ¬Ëprinciples basedââ¬â¢ approach as taken in the UK Combined Code which governs entities listed on the London Stock Exchange. ASX listed entities are at liberty not to comply with the recommendations, but if they do not, they must explain why not. The Guidelines were built on the belief that one size does not fit all companies. The Guidelines contained 10 ââ¬Ëessentialââ¬â¢ Corporate Governance Principles (Principles) and 28 Best Practice Recommendations (Recommendations) which was later revised in August 2007 as ââ¬Å"Corporate Governance Principles and Recommendationsâ⬠(Guidelines) comprising of 8 Principles and 26 Recommendations (Farrell, Harding, ; Spilsbury, 2003). The Guidelines also reflect ASX CGCââ¬â¢s emphasis in continuous disclosure by listed companies. Each Principle has a ââ¬ËGuide to reportingââ¬â¢ about the Recommendations at the end of the ââ¬Ëchapterââ¬â¢ discussing what should be disclosed and where. Under ASX Listing Rule 4. 10. 3, companies are required to provide a statement in their annual report, disclosing the extent to which they have followed the Recommendations in the reporting period. Where companies have not followed all the Recommendations, they must identify the Recommendations that have not been followed and give reasons for not following them ââ¬â the ââ¬Å"if not, why notâ⬠approach (ASX Corporate Governance Council, 2007). In relation to HIHââ¬â¢s case, a number of the Guidelinesââ¬â¢ Principles provide fairly extensive coverage of corporate governance issues identified in HIH earlier. Principle 1 highlights the need for companies to establish and disclose the respective roles and responsibilities of the board and management. In the 2007 edition, the Guidelines added the Recommendation 1. 2 for companies to disclose the process for evaluating the performance of senior executives (ASX Corporate Governance Council, 2007). This Principle serves to provide disclosure in relation to HIHââ¬â¢s situation of an over-dominant CEO and ineffective chairman and board. Where HIH was highlighted to have a board that was ineffective and failed its duties, Principle 2 states that companies need to structure the board to add value with an effective composition, size and commitment to adequately discharge its responsibilities and duties. Recommendations in the principle placed importance in having a majority of the board and the chairman being independent directors to ensure independence in board decisions and prevent conflict of interest. Recommendation 2. 4 suggests that companies should establish a nomination committee to ensure appropriate selection and appointment practices in the company. This Recommendation also provides resolution in relation to HIHââ¬â¢s case whereby the board was mostly made up of directors hired by Mr. William, including the former Andersen partners. In the 2007 edition, the Guidelines added the Recommendation 2. 5 for companies to disclose the process for evaluating the performance of the board, its committees and individual directors (previously this was part of Principle 8 in the 2003 edition, titled ââ¬Å"encourage enhance performanceâ⬠). This Recommendation helps to ensure directors are given access to continuing education to update and enhance their skills and knowledge that are necessary in performing their duties (ASX Corporate Governance Council, 2007). Principle 3 discusses how companies should promote ethical and responsible decision-making. Beyond legal obligations, directors are expected to make decisions that satisfy not only the companyââ¬â¢s shareholders but other stakeholders as well (this principal includes amalgamation from Principle 10 of the 2003 edition Guidelines which was to ââ¬Å"recognize the legitimate interests of stakeholdersâ⬠). To achieve this, Recommendation 3. 1 encourages companies to establish and disclose their code of conduct pertaining to integrity practices, legal practices and handling of unethical practices. Aligned with this, Recommendation 3. 2 promotes the establishment and disclosure of companyââ¬â¢s policy concerning trading in company securities by directors, senior executives and employees (ASX Corporate Governance Council, 2007). Relating to Principle 3 and Principle 7 titled ââ¬Å"recognize and manage riskâ⬠, HIH has been considerably questioned of its various business decisions, mostly of which contributed to huge loses and ultimately the companyââ¬â¢s insolvency. Criticized decisions made by the company are many, and on top of the list include (i) the acquisition of FAI Insurance (majority-owned by Mr. Adler who later became a member of HIHââ¬â¢s board of directors) for A$300 million which FAI was later estimated to be worth just A$100 million, (ii) re-entering the California market in 1998 and failure to take the difficult decision to exit the market when it proved unprofitable, and (iii) the decision to enter a sector (insurance and re-insurance of film-financing) that has proved problematic for many market participants in London (Cagan, 2001). The lack of risk management within HIH was apparent and Mr. Adlerââ¬â¢s unethical conduct was evident with his imprisonment. In view of the importance of risk management, Recommendation 7. 1 urges companies to establish policies for the over sight and management of material business risks (that is financial risks and non-financial risks) and disclose a summary of those policies while Recommendation 7. 2 call for the board to require management to design and implement risk management and internal control system to manage the companyââ¬â¢s material business risks and report to it on whether those risks are being managed effectively.
Friday, September 13, 2019
Industrial Ergonomics Essay Example | Topics and Well Written Essays - 500 words
Industrial Ergonomics - Essay Example In a typical shift work schedule, workers may be scheduled to work for 8 hours in a day comprised of three 8 hour shifts. In another shift work schedule, workers may be subject to work for twelve hours for 4 days, and then 4 off days. Experts point out that shift work schedules, which allow employees to work on the same shift for a prolonged period, are healthy and effective in enhancing employeeââ¬â¢s lifestyle and social life. Any attempt to change the shift schedule disrupts employeesââ¬â¢ life patterns (Brain, 2001). Poorly planned shift schedules have contributed immensely in reduced productivity and increased medical complications at work places. The human body is controlled by a circadian cycle, which is a natural clock that plays a role in maintaining complex body functions throughout the day. Different physiological body functions change depending on specific times of the day creating what is known as circadian rhythms. Therefore, circadian rhythms change after every 24 hours by prevailing environmental cues. Naturally, the human body is designed to remain active during the day and the rest through sleep during the night. The reverse is contrary to the circadian cycle, and it is the cause of sleep related problems faced by night shifters (Brain, 2001). To avoid consecutive night shifts, night shifts should be accompanied by a sufficient period of rest, creating short night shifts, making changes that will allow employees to adapt as quickly as possible and avoiding morning shifts that start too early.
Thursday, September 12, 2019
Assignment 2 Essay Example | Topics and Well Written Essays - 1000 words - 10
Assignment 2 - Essay Example The seller is afraid of nonpayment incidences while the buyer goods delivered will not conform to the orderââ¬â¢s conditions. Coupled with the above-mentioned fears, it is the fact that legal recourse will be expensive besides sometimes being extremely complex taking jurisdiction into consideration. Mainly, they ease trading modes besides eliminating fears, which parties might be having especially when their merchandises emanate from other diverse regions other than where they operate from. The most occurring incidences regarding these letters not meeting the stated requirements are those of fraud, which this study intends to relate explicitly. Documentary letter of credit usually takes place between three or more parties. They include the claimant who is the buyer or one importing, issuing bank being the importers bank whereby the beneficiary may be the seller or exporter. This document may be electronically given the presented to a local bank of the ownerââ¬â¢s choice willing to negotiate for it to negotiate for him or her. Bank mandated to give out the letter ensures it reaches to that of correspondent in the same region where the exporter might be operating. That of correspondent assumes the role of advising because its responsibility is to inform the beneficiary that the letter has already opened in his or her favor. Bank supposed to pay may deal with the beneficiary in terms of local currency though after determination of proper currency. The correspondent in advising or settling payments may need to include its name to the letter when it imposes charging fees. By completion of this procedure, the involved banks w ill settle their final dealings in an attempt to ensure they have served as necessitated. Mainly, the issuing bank ensures it settles the pending dues for the customer after he or she presents to itââ¬â¢s the necessary papers. Hence, the letter acts as a document to the client prepared adequately by the bank
Wednesday, September 11, 2019
Management Essay Example | Topics and Well Written Essays - 1500 words - 11
Management - Essay Example Managerial communication is the element of an organization or business that helps the managers of those organizations to communicate with each other, that is if there is more than one manager, as well as with the other employees within the organization.ââ¬Å"Managers must be efficient and effective communicators in a fast-paced highly competitive environment.â⬠(Hynes, Geraldine E, P18).If information is not shared, then it is of no use to the organization and will bring no benefit. In order to share this information, there has to be proper communication techniques that will help the individual members of an organization stay up to date with the latest on goings, events and developments. Good communication helps ease the transfer of valuable information between members of one party to members of another, otherwise known as the sender and the receiver. Managers of an organization that are working towards a common goal, are required to smooth out the flow of information by using effective managerial techniques. Managerial communication is divided into two sub categories, namely; interpersonal communication and organizational communication. Interpersonal communication is the communication or the transfer of information that takes place between two or more individuals at a workplace, whereas organizational communication is one that occurs at all levels of an organization. ... Understanding of a managerââ¬â¢s message is based on the receiverââ¬â¢s perception and message interpretationâ⬠(Larry R Smeltzer, Donald J. Leonard, 1994, p27). Many of these issues are related to decision making that turn out to be controversial and not too favorable for some of the subordinates. A controversial decision will incur anxiety and resistance, especially decisions that speak about any sort of change or alteration to the structure of the organization. Changing an organizationââ¬â¢s goals for example, will definitely create uncertainty in groups, leading eventually to anxiety and protest. Although lying or half truths are sometimes spread for the benefit of the organization, the process of doing so can destroy the trust that an employee has built with the employer. Due to this, the employee will begin to question the employerââ¬â¢s sincerity and most probably seek a new job where the employer is someone he/she can trust. The employee might even tend to sp read the notion of the employer being insincere and this could be disastrous for the organization, potentially losing valuable employees. Another issue that arises in the management of an organization is caused when the realities of power are not recognized. If a manager is found to be really high in the organizationââ¬â¢s hierarchal structure, it is possible for problems that occur in the organization, to reach that manager a little too late and also softened in nature so as to cause minimal blow. Every employee who passes on the problem ensures to reduce the degree of that problem. If the manager is unable to properly recognize the integrity of the situation, the problem might not be dealt with in the right way and may lead to undesirable consequences. In the same way, messages and information
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