Rob Parsons -Promote Not Promote

This report presents an independent analysis addressing the insights for important management issues associated with performance appraisal and performance management in the Capital Market Services of Morgan Stanley. The analysis will be focused on identifying the major problems, analyzing the situations, and making feasible and thorough recommendations for the board of Morgan Stanley to improve the existing situations. 2. Problem Statements. Rob Parson was a star producer in the Capital Market Services Department who had been recruited from a competitor two years ago and had generated substantial revenues since joining the firm.I would like to address more specific and surface problems for this situation as follows: 2. 1 Problem 1 -Rob Parson's Performing Issues. Parson's success at generating business was offset by performance reviews from internal co-workers that painted him as a poor fit in the firm's collaborative culture. Parson's performance issues had been making his two immed iate supervisors, Paul Nasr, the senior managing director in early 1996 and Gary Stuart, the just promoted managing director in early 1997 faced the dilemma whether to promote Rob Parson as managing director. 2. Problem 2 -Rob as Irreplaceable Staff. Stuart felt certain that Parson would leave the firm if he was not promoted in 1997. This would mean losing a valuable employee and a star producer and creating an empty seat in an area important for the firm's business. Morgan Stanley needed Parson to attain the firm's strategic business objectives and even Stuart felt strongly that Parson would be impossible to replace. 2. 3 Problem 3 – Little consensus for the 360-degree evaluation process The purpose of 360-degree evaluation is to emphasize teamwork, cooperation, and cross selling.However, there was little consensus on what the 360-degree evaluation actually meant in practice since its implementation in 1993. 3 Issues / Problem Analysis. It is doubt that the 360 degree perfor mance evaluation process at Morgan Stanley yield data that were valid and reliable. It is critical to figure out whether the 360 degree performance management system well aligned with Morgan Stanley's strategic objectives. It is also important to verify the two performance evaluation results and bjectively induce the implications so that Gary or the board could effectively manage the situation. 3. 1 Not a real 360 degree performance review @ Nasr's time. The performance comment â€Å"raw data† including the quantitative, qualitative, and anecdotal — none of which is perfectly consistent from the 360 process. It is doubt that raters knew how to effectively participate in the process and the Paul knew how to use the data. There was no indication of rater's interaction with Parson and how each rater's rating contributed to the average scores shown on Summary of Performance Ratings.The arithmetic average for the collage average score is 3. 6, how ever the overall rate is a t 2. 8. It seems that quiet a number of Parson's supervisor and colleagues were admiring his cross-selling skill but it was hard to tie to the result of Downward Average 3. 0 and colleague Average of 3. 7. What were the criteria to evaluate item 4A in the Summary of Performance Ratings. -Team Player Skill and how the comments from Parson's supervisors and colleague tied to the average rating.Rater Parson E's comments in the â€Å"Development Recommendation† sections did not include concrete example but just stating rather subjective observations and feelings. The rates were not interpretable and there was no scale identification for the rates. What a 2. 0 different was from a 4. 0 average score? What were the benchmarks? There was no explicit indication of management's expectations for Parson, such as specific sales target and customer satisfaction index that are measurable and be able to described in concrete terms.It seems that there was no prior communication of the expect ations of the key performance indicators with specific values to Parson. There was no attempt to think deep the unique qualities of Parson that bring him to achieve excellent business sales. There were no indications of key success factors for Parsons that would link to the performance evaluation process. There was inherited bias from Nasr that he treated Parson harsher because he wanted to show to everybody in Morgan Stanley that he would not treat a subordinate who was hired from his previous life better. . 2 Improved 360 degree performance review @ Gary's time In early 1997 during Gary Stuart's time – A â€Å"revised† performance review â€Å"raw data† including the quantitative, qualitative, and anecdotal was come up in different ways. The process had been improved when compared with the last year exercise in the following ways: Indication of involvement from each rater and excludes the ratings from evaluators who had limited interaction with Parson when com ing up with average score in every performance criteria to ensure fair evaluation.Indication of rating scale from 1-6 and with interpretations for each rating. However, there is no in-depth explanation on how to define Top 10%, Top 20% and Top 50% etc. Each rater provided a rating with corresponding comments and valid examples for each performance requirements category Elimination of the â€Å"Team Player† rating which was previous seen as a subjective and board term. However, the review showed an extraordinary amount of Parson's progress on the team player front by examples. The overall rating from downward and colleague at 5 and 5. respectively which is in the category of Outstanding -Top 20% It was mentioned by Stuart that he need to deal with the politics in the firm, it is time to think of whether Parson was confronting the culture or he a gear to help the firm to change some of the rooted culture. 3. 3 What are the alternatives? After illustrating the underlying causes of the problems, we have to consider whether the efforts Parson had made were sufficient to be promoted, promoting Parson would mobilizing a lot of support from within the firm. The main alternatives are as follows: * Be prepared to search Parson # 2 for replacement and fire Parson. No to promote and increase payment for Parson and let him tender his resignation. * Promote Parson to the managing director and further motivate and develop his weak area. 4 ;Solutions and Recommendations. Morgan Stanley changed its corporate strategy to focus on being a â€Å"one-firm† firm, the use of the 360 degree performance evaluation procedures at Morgan Stanley has been designed to reinforce the change in culture which is now emphasizing teamwork, corporation, and cross selling. The firm should reward those who acting in accordance with the mention notions as well as great business generators.The main purposes of carrying out an efficient 360 degree performance assessment in Morgan Stanley are to develop, to manage and to pay ;amp; promote. The effectiveness of the performance assessment did affect the job satisfaction of Parson and the organization effectiveness. Therefore, it is critical to come up with a fair judgment for Parson, review and improve for any loop holes in the existing performance assessment process. I would like to recommend promoting Parson to the managing director, further motivating, rewarding and developing his weak areas.It was hard to compare the results from 2 consecutive years because it is meaningless to use some misleading or ill-defined rates from @ Nasr's time and compare to a more representative set of result this year. However, the revised process in the recent year provided more sensible data, it is worthwhile to focus on the review result of this year as decision making base. The Summary of Performance Ratings and Distribution showed that nearly all (except 33% of his supervisor rate 3 for leadership and management skills) Parson's s upervisors rated 4 to 6 for all 4 perspectives include the Overall Downward.These implied most of the Parson's higher up did recognize Parson's contributions. It should be easier to mobilize a consensus on Parson Promotion this year. The management needed to reconsider the motivation elements and to come up with a through career development plan for Parson rather than just focus on using the review result as a promotion justifications. Actions Plans: * A constructive and through feedback session to be held by Stuart with Parson and mentioned that he will be promoted to the managing director on condition that Parson need to further improvement on certain areas from leadership and management skills.Quote concrete example for his weak areas. * Make sure a detail job specifications (expectations) and key performance index for the managing director position be in placed. To communicate management's expectation to Parson clearly. * To carry out after promotion review with Parson in three months time and make sure he will still be in good shape after his promotion. * Stuart has to tender a promotion recommendations report to the management with support and firm tone that Parson is ready to promote based on this year's performance assessment results. * To involve those being rated in the development of the rating scheme.Continuous to carry out performance appraisals training to make sure all the staff understands the logic behind. To fine tune the process with more specific definition for each of the ratings. In conclusion, with proper implementations, a 360 degree performance assessment process can provide a more accurate assessment of an employee's performance and help eliminate accusations of favoritism. It will definitely lead to continuous learning, team building, growing self-confidence and improved productivity. I look forward seeing a more constructive and productive team lead by Parson in the coming future.

How modern society changed women’s lives Essay

The position of women is often considered to have improved during the last few decades. There is, however, considerable debate as to the extent of change and the reasons for it. This essay will look at how women’s lives have changed in terms of employment, pay, education, household, sexuality and the state. I will conclude that the most important changes for women are in education, but that the basic pattern of inequality remains in most aspects of the social structure, from paid work to the household divisions of labour, from sexuality to violence. Ann Oakley (1981) has traced the changing status of women in British society from the eve of the Industrial Revolution to the 1970s. She claims that ‘the most important and enduring consequence of industrialization for women has been the emergence of the modern role of housewife as ‘the dominant mature feminine role’ Thus a combination of factors which included ideology, the banning of child labour, and restrictions of the employment of women, locked the majority of married women into the mother housewife role. This led to the idea of a ‘cornflake packet family’ where the male was the breadwinner, the wife was the housewife, and the family consisted of two children – a boy and a girl. The mother had an expressive role, while the father had an instrumental role of going out to work. The inequality, and the extent to which the different aspects of this are interconnected, mean that is some use the concept of patriarchy to describe this set of social relations. Patriarchy is a social system through which men dominate, exploit and oppress women. However, in recent decades, changes in the economy and society have altered the situation – several of these changes will be outlined below. One of the most important areas to look at for the changes in women’s lives is in terms of pay and employment relative to men. Women are less likely than men to be in paid employment, but the gap has closed steadily over recent decades. The proportion of those in employment who are women rose from 38.1% in 1971 to 49.6% in 1995. However, most of the increase in women’s employment has been in part time work. The proportion of women working part time has increased steadily, from 34% in 1971 to 47% in 1995. Women workers are concentrated within a very narrow range of occupational groups, although there have been some significant changes in this recently. Over 40% of full time women workers are to be found in clerical employment. In contrast, men are spread through a much wider range of occupations. Women are confined both to lower grade jobs (vertical segregations) and to different jobs (horizontal segregation). The pattern of segregation however has changed significantly over recent years. At the top end of the hierarchy the number and proportion of women in the managerial and professional grades have substantially increased. However, in the most powerful positions in public life, women continue to be seriously under-represented. Walby notes that in 1992 only 9.2 per cent of MPs were women, there were no women Chief Constables until the 1990s, and in 1994 only one in 25 High Court judges was a woman. In 1996, there was only one woman among 50 British ambassadors or heads of overseas mi ssions. Linda McDowell uses the theory of post-Fordism to understand changes in the labour market. This theory argues that businesses have moved away from mass production towards the flexible production of small batches of specialized products. In doing so, they employ a core of highly skilled workers who are capable of using their skills to produce a wide variety of products. Other work is carried out by part-time workers, or workers on short-term contracts, or is contracted out to other firms. McDowell argues that these changes are reflected in the increased use of part-time female labour and the reduction in the employment of males in full-time permanent jobs. But while it is clearly important to take account of changes in the labour market and the economy as a whole in order to understand the changing patterns of gender inequality, it is necessary to be cautious about basing an analysis on the theory of post foridsm. This theory has been heavily criticized on a number of grounds, and the work of Lovering and others suggests that post Fordism cannot be seen as a general trend that has affected all employers. A different explanation for the changing nature and pattern of women’s employment in countries such as Scandinavia has been the shift to state  policy. Talcott Parsons had proposed a functionalist explanation of women’s disadvantaged position in the labour market, which focused on the impact of the household. He argued that men get paid more because women’s domestic responsibilities adversely affect their involvement in paid work. However, in Scandinavia, there is a much greater public provision of childcare together with higher rates of female employment and a smaller wages gap between women and men. Thus changes to state policy can improve the nature and pattern of women’s employment. But has there been any change in women’s pay relative to men’s? The implementation of the Equal Pay Act between 1970 and 1975 reduced the wages gap a little. In 1970 women earned only 63% on men’s hourly rates, and only 55% of men’s gross weekly pay. In 1997, women working full time earned 81% of men’s hourly rate, but those women working part time only earned 59% of men’s hourly rates. Thus the size of the gap has been closing steadily for those working full time, but not for those working part time. It does seem therefore that the position of women in employment has transformed itself in recent years, though there remains considerable inequality and the picture is not one of simple progress. One area where there have been considerable changes for women’s lives has been in education. Education has seen a transformation of the position of girls and young women. In schools, not only has the traditional gender gap in examination performance been closed but girls have overtaken boys; while in higher education the gender gap is closing steadily. One reason for the change is the discrimination against women in education was made illegal in the 1875 Sex Discrimination Act. A further reason was the increase in the opportunities for women in the world after education as the labour market gradually opened up. These changes in education have potential implications for other aspects of gender relations – since access to good jobs as some relationship to educational qualifications, women might anticipate taking a higher proportion of top jobs. It may also have an impact on wages, in so far as lack of qualifications, rather than discrimination, was a reason for women†™s poor rates of pay. However, while girls are learning in new areas,  boys are not learning those subjects traditionally learned by women eg at present, only 15% of all boys do home economics. A further important issue to look at when considering the changing lives of women, is in the area of the household. The most striking change is the increased likelihood of families being formed of only mothers and children, which reflects to a large degree the large increase in divorce rates. The number of lone parents increased from 8% in 1981 to 21% in 1996, and the vast majority of these are women. One of the most significant features of one-parent families is their tendency to live in poverty, leading to many forms of social exclusion. The poverty largely results from the lack of a male income into the household, but is compounded by the lower propensity of lone mothers to be in employment as compared with married mothers. Changes in the welfare state are also important in that they have disproportionately affected women because more of them head single parent households and more live to pensionable age. Women in old age are thus particularly vulnerable to the risk of poverty. A further change in the household has been in attitudes towards housework. Men are now more likely to accept that women should not be responsible for all the housework. However, it does seem that while there has been a change in attitudes, this is not to a great degree played out in action. The UK is in contrast to some countries such as Sweden where there is more shared parenting and childcare is part of education for boys and girls. Changes in sexuality have been a further impact upon women’s lives. Giddens argued that there has been a ‘transformation of intimacy’ in recent years. It is widely suggested that women have made great advance towards equality with men in the area of sexuality. The sexual double standard, whereby non-marital sex was acceptable for men and not for women has reduced. Other changes include the much greater availability of contraception and safe abortion, which has made unwanted children much less likely. Furthermore, there has been greater acceptance of a wider range of sexual practices, such as gay and lesbian relationships. Feminist movements have also helped to change and shape women’s lives. The  1970s was the second wave of feminism in the twentieth century, the early one being instrumental in winning political citizenship for women. Many of the feminist ideas of the 1970s which had been considered outrageously radical when first expressed are now widely accepted. For instance, male violence is now recognized as a significant problem and the subject of serious discussion by the police as well as feminists. Equal pay is also an early feminist demand now accepted into mainstream policy initiatives such as Opportunity 2000. In Gender Transformations(1997), Walby reviews changes in patriarchy in the 1990s. Although she discovers plenty of evidence that patriarchal structures remain in place in Britain, she also finds evidence of important changes. In particular, she claims that there is evidence of a generational difference between older and younger women. Older women tend to be restricted by the constrains of private patriarchy, which was the dominant form of patriarchy in their early lives. They are likely to have few qualifications and therefore have limited opportunities in the labour market. Younger women, on the other hand, have benefited from some of the changes that have taken place. They are likely to benefit from increased qualifications and improved labour market opportunities. Walby thus points to polarization between the younger and older women, while convergence between younger women and men. In conclusion, there have been many changes in the transition to modernity, which have shaped women’s lives. While some of these changes have reduced gender inequality n recent years, especially in the field of education, the basic pattern of inequality remains in most aspects of the social structure, from paid work to the household divisions of labour, from sexuality to violence. This essay has pointed to many changes in women’s lives, but whether their lives have improved has been a matter of debate: Liberal feminists tend to see these changes as progress, while radical feminists tend to argue that little has changed and patriarchal domination remains firmly intact. Marxists usually claim that industrialization and the advent of capitalism led to a deterioration in the position of women and since the Industrial Revolution little has improved. Bibliography Mcdowell L ‘Father and Ford revisited: gender, class and employment change in the new millennium’ Transactions of the Institute of British Geographers 2001 Walby Gender Transformations Abercrombie, Warde et al, ‘Contemporary British Society’ Haralambos and Holborn ‘Sociology’

The advantages and disadvantages of a business plan

Entering the world of business is not that easy. When starting a new venture, one should never come unprepared. If you started a new venture without planning anything first, chances are, you will end up going wherever the wind takes you. That is why a business plan is a necessity for someone who is interested in starting a new venture. In the world of business, a business plan is treated like a bible for it lets investors and lenders know about the business you are trying to put up. It also serves as a manual for suppliers and other stakeholders of the business. A business plan may have its advantages but it also have its disadvantages. In this part of the paper, we shall look at the strong and weak points of developing a business plan for a new venture. However, a business plan is supposed to be an advantage to the business that is why the advantages, as expected, outnumber the disadvantages. Advantages One advantage of developing a business plan for a new venture is that it identifies what the consumer really wants. Of course, a business plan is all about making your target market patronize the product or service you are offering in your new business. Before you can make profits, you must first identify your target market and know what they really need or want. This is one important advantage of a business plan especially for those who are new in the business scenario. Once you identify what your target market really wants, you are most probably headed to indentifying the demand for the service or product you intend to offer. Identifying the demand for the product is also very important in launching a new venture because from this, you will know whether the service or product you are to offer is needed by the people. Of course, you cannot just think about your supplies and your suppliers. Those things will come after you determine the demand for your product. Aside from identifying the target market and the demand for the product or service, the advantages of a business plan also include assistance in designing your product that are appealing to the senses of the consumers. Since your purpose in developing a new venture is to make profit, the consumers’ senses are your main target. Designing your product is very important. It includes the packaging of the product and other advertising tools to make the people buy the product. This is also an important aspect of the business plan for it contributes a lot to the success of the business. Of course, if you are developing a â€Å"for-profit† business, making profit and paying debts will have to be included in your business plan. Aside from paying debts, your plan should also include measures on how to generate daily income. In this aspect, a business plan is very helpful because you already have your plans on how to manage the financial aspects of the business (which is one of the most important aspects). If you know exactly the financial path of what you are venturing, you are most likely to succeed in terms of profit. Another advantage of a business plan is that it makes the proprietor identify his competitors. When you have the knowledge about your competitors, you will be able to identify your competitive advantage over the competitor’s firm. Since you are developing a new business, it is important that you know exactly your edge in the business scenario over the others. If you have planned beforehand about your competitive advantage over the competitors, chances are, there will be product differentiation in the market. That is actually a good thing because it lessens competition within simi8lar firms. By analyzing your competitors, you will be able to create strategies that are effective even if there are many competitors in the market. A business plan is also advantageous because it enables us to indentify new product and service areas, and new or potential customers. In business, it is not only important to find the customers for some of them will not be loyal to your firm. It is hard to find new customers when you are just developing a new venture but it is much harder to retain them. The good thing about a business plan is that it helps the owner of the firm to identify potential customers. If it is hard for the owner to retain his customers, it would be very helpful to identify new or potential customers. In that way, at least, you will have your next resort. Lastly, an advantage of a business plan is that it allows the business owner to evaluate his business strategies and if his strategies are giving the desired results. What is good about a business plan is that it enables the owner to assess whether his strategies are effective or not. If he found out that his strategies are not effective enough to make the business succeed, he can immediately formulate new strategies to make the business succeed. As we all know, business strategies are very important, be it human resource, financial, etc. The business plan serves as a test for the formulated strategies and also serves as way to make room for improvement. If the owner finds out that there is something wrong with his first strategies, he will be able to change it right away and save his business from falling apart or incurring losses. Disadvantages Although we mentioned a lot of advantages in making business plans, it also has its drawbacks. If the owner is new in the world of business, he may not have all the business skills that a new venture requires. If he happens to be the one making his business plans, the business plan can be one way of identifying his weaknesses in dealing with business. If the owner is not used to making business plans, people who will look to it will find out the weaknesses of his business skills. Suppliers, investors, and lenders will most likely not to participate in the business when they find out that the person they are dealing with is not that skilled in business. Also, if the other stakeholders of the business find out that the person they are making arrangements with is not as skilled as they thought, they might not trust him with the success of the business. They might even plan to use his weaknesses or his business plan against him since they know that he is not a skillful businessman. Another disadvantage of a business plan is when it is not properly thought of. If the data in a business plan is not properly analyze, it may result to improper marketing decisions which will eventually have a bad effect on the business itself. Although a business plan helps a lot in making the business successful, it may also make the business fail if not done correctly. What makes it hard for a business to succeed is the impulsiveness of the business owners when it comes to decision making. Sometimes, the data in business plans are not analyzed properly that is why decisions are also made incorrectly. If the one who made the business plan is not a professional business consultant or is not really familiar with making a business plan, information can be interpreted incorrectly. The faulty interpretation of information can result to unrealistic financial projections. In a business, financial matters are very important that is why if financial statements are understated or overstated, it could greatly affect the business. If the information in the business plan is interpreted incorrectly, wrong decisions can be made. The owner can also make unrealistic projections about the financial aspects of the business which can cause further problems. This would greatly affect the future of the business. Since the business plan somewhat includes the mission and vision of the business, it would be a great problem if the business plan fails to make correct projections for the firm. If the business owner is not familiar with making business plans, he may opt to hire a business plan consultant. It is very advantageous actually since they offer quality service and they have been making business plans for many successful businesses. The disadvantage is that the service of these consultants is very expensive. Although they offer good service, it would cost you a lot. The money that can be added to your investment in the business will just go to the payment for the business consultant. If the business owner happens to be saving up for his new venture, he can resort to hiring an inexpensive business consultant which is not always good for the business. Sometimes, inexpensive consultants are not as good as the expensive ones. There are also some which uses software that makes business plans. They will just ask the owner of the business certain questions and then enter the information in the software they use. This will eventually lead to improper analysis of data and information in the business plan which will not do the business any good. Assessment of the Biz Air Plan Just by taking a look at the business plan’s executive summary, we can already have an idea that the financial projections are overstated. With only 6 aircrafts, their projected revenues were  £17.4 million. What I am trying to point out here is that what they are trying to build is an airline company and not just a convenient store or a clothing company. There were statements in the executive summary that seem to understate the losses in the first year. They even projected that there would be a 12% improvement in profits in the company’s second year and a long term 16% of sales in the third, fourth, and fifth year. Aside from wrong financial projections, I find the business plan full of assumptions.   For example, in the part where in they conducted customer analysis, they chose to conduct the study during lunchtime and interviewed people who dress like a business person. In other words, they just assumed that if a person is in corporate attire, he or she could be a potential customer since they assumed that he or she is a businessperson. There is also a part in the paper in which it is stated that â€Å"as long as the flights are not delayed, the post experience evaluation should be favourable.† I find this very assuming because it is not only the delay of the flight that affects on whether the customer will or will not like the new airline company. The satisfaction of the customer does not rest solely on the factor that their flight is on time. Factors such as cleanliness, safety, or the friendliness of the staff also affect the satisfaction of the customer. It is also mentioned in the business plan that through satisfying customers (that is in terms of not delaying their flights), they will serve as salesmen for the airline company who will try to suggest the company’s service to other people. I find this a little idealistic for business does not just go that way. Business does not only succeed through word of mouth. When they said that the customers will serve as the salesmen for the airline company, it gave me the impression that they were already assuming that the delay of the flight solely determines customer satisfaction which would later on result to advertising the company. It is very idealistic since they were sort of assuming that all the satisfied customers will endorse their company. Another thing that I found very disturbing about the paper is its being overconfident about the services it offers. Of course it is very important that you have confidence in the business that you are putting up but not to the point that you will sound boasting about your business that has not even tried by the people. You can see this in the part where in they discuss the advertising of the service. They mentioned that they are just going to advertise through newspapers and billboards near airports. I have nothing against that idea, actually. But you don’t have to say that you do not have to advertise in televisions because you are sure that once the news broke, there would be much television publicity that will come out. I think it will seem very unprofessional for those who will take a look at the business plan. Potential investors will have the impression that they are dealing with unprofessional people. Lastly, there are several faulty analysis and incorrect financial projections which can be the main cause of the failure of the business. Reference: 2004. Creating Your Business Plan. [Online]. Available: http://www.nvbdi.org/howto/biz_plan.php.   [29 July 2007] BELLIS, M. 2007. Creating A Marketing Plan for the Independent Inventor. [Online]. Available: http://inventors.about.com/od/licensingmarketing/a/tutor_marketing.htm. [29 July 2007] 2001. Approaches to Writing A Business Plan. [Online]. Available: http://www.caycon.com/plan_options.php. [28

Discuss the premise that cash is the 'essential commodity' of a Research Paper

Discuss the premise that cash is the 'essential commodity' of a business, that cash lubricates the business and allows operation - Research Paper Example Cash is particularly important for business because people and organizations will not be normally willing to accept anything other than cash in settlement of their claims against the business. This paper will specifically discuss the importance of cash management and cash planning in a business environment. Importance of Cash Financial experts indicate that cash is the ‘essential commodity’ of a business, that cash lubricates the business and allows operations to run efficiently. It is clear that cash is necessary to meet the day to day needs of a business. Evidently, a business firm cannot run its operations efficiently unless it has enough cash to pay its employees and debtors. In addition, adequate cash reserves are vital for business to invest in infrastructure and other expansion projects and to deal with unexpected contingencies. Experts opine that a firm’s cash flow is a key factor determining the long term success of the business. To illustrate, investors and shareholders give particular focus to the strength of cash reserves while evaluating financial position of a company. Clearly, companies lacking adequate cash reserves cannot offer attractive dividends to stakeholders and this condition in turn would adversely affect their long term sustainability. The intensity of market competition is very high today, and therefore firms need to significantly invest in business promotion in order to successfully confront competitors. If an organization does not have adequate funds to promote its business in the market, it will probably lose its market share to competitors and eventually the business may go out of the market. Importance of Cash Management and Planning As discussed already, cash is an ingredient element for business growth and therefore effective management and planning of cash is vital to ensure long term business success. Assuring sufficient funds as and when required is a potential challenge for financial managers in every or ganization. When an organization has sufficient funds to implement its business plans to address economic downturns, it can focus on its business operations confidently. On the other hand, when an organization struggling with inadequate cash flow, it is forced to review and modify its business plans. Under such circumstances, a firm cannot run its operations effortlessly. In the view of Williams, effective cash management is particularly important to maintain safe debt levels (n. p.). The financial management has to critically analyze the firm’s ability to repay debts before making a borrowing decision. Excess borrowing beyond the capacity of the organization will certainly affect the feasibility of the business even when the borrowing rates are low. Therefore, cash management is inevitable while dealing with debt financing. In addition, cash management plays a significant role in enabling effective utilization of money. As Nikolai et al. point out, cash management is particu larly concerned with the management’s ability to identify cash shortage problems before they arise and to develop potential strategies to resolve those issues recognized (317-318). Proper management of cash is crucial to ensure that the organization has sufficient funds to finance purchases and other expansion activities during the peak season. Thoughtful cash management is

Discuss the dual role of security sector in the arab world as both a Essay

Discuss the dual role of security sector in the arab world as both a source of political stability and instability - Essay Example As such, an analysis will have to be made concerning the role that the security sector has played, and continues to play, within the Arab world with reference to stability. The security forces of the various Arab countries have been involved in a diverse number of conflicts since they were formed, and as a result have been a cause of instability in the region. One will find that as long as the Lebanese conflict took place, security forces of the Arab countries that neighbor Lebanon contributed to its falling apart as each of them attempted to protect their own interests. It has been found that none of the countries that were involved in this conflict saw any reason for the peaceful solution of the Lebanese sectarian conflict, and instead they all supported their own sectarian factions within the country. For example, Syria gave its full support to Hezbollah and Alawite militia groups, while Libya and Egypt supported the various Sunni militias. All of the security forces of the Arab s tates involved in this conflict, wanted the sectarian factions that they supported to take over Lebanon so that it could be used as a base for attacking Israel in a war, which many of them believed, was inevitable (Haddad, 589). The loss of life among the native Lebanese population was massive, but this did not end the conflict as one would have expected, since the various security forces involved in the conflict were determined to make themselves dominant within Lebanon. Instead, this conflict became even worse, with each of the sectarian factions even more determined to establish its dominance all over the country. The security sector of the Arab world, therefore, had a direct hand in the causing of the Lebanese crisis since each of the countries involved attempted to use Lebanon to achieve its own ends. Among the reasons which have led to the influence of the security sector in the Arab world is the wealth that has been brought about by the oil boom in some of the countries in th e region. The huge finances that have been gotten from the sale of oil have gone a long way in ensuring that the security forces of the oil rich countries are well equipped and paid so that they can easily deal with dissent from the population. The security forces as well as the oil wealth that backs their operations have enabled the rulers of most Arab countries to be less accountable to their people since they do not rely on them for the purpose of funding governmental activities, as they do not rely on taxes. The oil wealth, which some of these governments within the Arab world have control over, has tended to act as a means of their maintaining power because they have the funding needed not only to buy out the opposition, but also to maintain the loyalty of the security forces (Ghalioun, 129). In some cases, such as that in Bahrain, where the monarchy was almost overthrown, these repressive regimes have had the support of the security forces of their more powerful allies in main taining their grip on power (Dalacoura, 75). In Bahrain, the demonstrations and government assaults that took place at the height of the Arab Spring

Health and Social Research Methods Essay Example | Topics and Well Written Essays - 3500 words

Health and Social Research Methods - Essay Example Libya is one of the rich countries of the world located in the region of North Africa. The population of Libya is around six million. 22.1 percent lives in  the  rural area. Average life of the people is around 75 years. Mortality rate is around 6.9 under the age of 5. Libya is an oil-rich and upper middle-income country located in North Africa region with a population of slightly above six million, out of which 22.1 percent lives in a rural area. (Toebes et al., 2013). The Libyan Red Crescent is a Voluntary aid organization, was formed in 1957. The purpose was to provide medicines and other medical facilities in the cities of Libya. Record shows that the health system needs to improve in Libya. The volunteers of this organization are doing their work properly in providing the medical aids to the people affected by the disasters. The volunteers of this organization are improving themselves by providing relief to the general public (Ahsan Ullah, 2014). Their motive is to help humanities specially disabled persons to ensure that they are provided free and better medical treatments. Their development programs are the evidence of their intention of  the  work. The additional work of this organization is to prevent the people from disease, providing healthy food, protection of poor people, preparation for disasters, donate blood, recovery of the disease and organizing programs to maintain peace in the society (Martin et al., 2014). The volunteers of Libya Red Crescent Organization are providing better services of medical aid facilities to the people who are injured in the disasters. The volunteers have several issues, which have to be resolved. However, there is a need for research to identify and examine the issues faced by the volunteers. The employees of the organization address some of the issues lack of training and motivation. There is a need to find the issues, inspect them get

Threats Facing Gulf Cooperation Council (GCC) Assignment

Threats Facing Gulf Cooperation Council (GCC) - Assignment Example The unified economic agreement between the countries of the Gulf Cooperation Council was signed on November 11, 1981 in Abu Dhabi. These countries are often referred to as The GCC States. This area has some of the fastest growing economies in the world, mostly due to a boom in oil and natural gas revenues coupled with a building and investment boom backed by decades of saved petroleum revenues. In an effort to build a tax base and economic foundation before the reserves run out, the UAE's investment arms, including Abu Dhabi Investment Authority, retain over $900 billion in assets. Other regional funds also have several hundred billion dollars. The region is also an emerging hotspot for events, including the 2006 Asian Games in Doha, Qatar. Doha also submitted an unsuccessful application for the 2016 Summer Olympic Games. However, Qatar was later chosen to host the 2022 FIFA World Cup. In 2006, its GDP (nominal) was $717.8 billion (IMF April 2007), led by spectacular growth in United Arab Emirates and Qatar. In 2007, its GDP (nominal) was $1,022.62 billion (IMF April 2008). IMF predicts its GDP to reach $1,112.076 billion at end of 2008 and $1,210.112 billion at end of 2009. ... Recovery plans have been criticized for crowding out the private sector, failing to set clear priorities for growth, failing to restore weak consumer and investor confidence, and undermining long-term stability. Threats being faced by GCC countries are numerous. These threats are both internal and external. Given the vast possession of natural resources like Oil and Gas, many internal and external forces are at work against these countries. Monarchs rule all the GCC countries, although all of them have provided more or less high degree of social welfare in their states there is a growing demand by public for democracy and basic human rights first being freedom of speech. (Web- The GCC in a turbulent world ) GCC states are facing several domestic challenges headed by demographic issues, which are to blame for political and economic problems as well as others associated with security and linked to the presence of a large proportion of foreign workers on GCC soil. The issues include agg ravation of the â€Å"growing fundamentalist Threat, effects of instability in Iraq, fallout of Iranian nuclear issue, over all security of Gulf, US and EU interests in the GCC area, presence of foreign troops in the area, US strategy in the area to â€Å"prevent any force from imposing its hegemony on the GCC area†, security of oil shipments, presence of US forces in consolidating the GCC regimes, Iranian role to undermining Iraq’s stability and Iranian nuclear issue presenting a serious challenge to the stability of the area. GCC countries remain unstable due to impact of host of issues on the region directly. Major challenges being security, economy and demography. These countries face internal conflicts with each other like GCC versus Iran and Iraq.

Marketing Essay Example | Topics and Well Written Essays - 1250 words - 26

Marketing - Essay Example As discussed earlier BMW is known for its luxury cars and primarily targets the premium market segment to generate its revenues. In order to successfully develop an effective marketing strategy, satisfying the needs and requirements of the targeted consumers should be given the topmost priority by any organization. Hence, the first step towards developing an effective marketing strategy of BMW would be to analyze the consumer behavior patterns followed by the company's potential target population. The key issues that are having a significant impact on the global automotive industry are the increasing rate of urbanization, environmental issues and the changing nature of consumer behavior. The two-tier concept of the industry is changing at a rapid pace. The mature automotive markets in US and UK are expected to converge with the emerging markets like that of China and India in terms of the needs and wants of the consumers regarding safety, reliability, and quality. Moreover, the autom otive market segments comprising of low-cost and premium prices vehicles are also expected to converge. This type of changing consumer behavior and market trends indicate that the available opportunities for the automobile manufacturers would increase in relation to the increasing demand for mobility services and electric vehicles. As regards the targeted customers of BMW, they look for high standards of performance, luxury and quality in the products. There is an increasing demand for hybrid electric vehicles in the market as well.

Why does Canh reject Thoas offer of freedom and get off the train Essay

Why does Canh reject Thoas offer of freedom and get off the train - Essay Example 233). Thus instead of merely exploring the glory of victory attained by the collective people of the country, Sandy Lives tries to capture the essence of what it was to be a Vietnamese citizen living during those times. Therefore, the impacts that war had on personal lives of people as well as the relationship these people had with each other is deftly analysed and portrayed through Vietnamese cinemas such as the one under study here. Such films reveal the fact that wars do not end in the battlefields, but linger among the lives of both people involved in the war as well as their family members, thereby making it amply clear that â€Å"wars end at home† (246). The case of Canh and Thoa was similar, where the former starts a new life with another family up north, whereas the latter faithfully waits for her husband to return, thereby ignoring her social responsibility of giving birth to a child, but at the same time, fulfilling her moral obligation of filial piety. Therefore, it becomes clear that it is this loyalty and faithfulness of his wife that inspires Canh to not run away from his responsibilities, thereby rejecting to take the train ticket, which represents his escape from â€Å"marit al commitment† to Thoa (247). Thus, this highlights the protagnoist’s belief in his marital commitment as well as reiterates the long lasting â€Å"disruptive effects† of war on the â€Å"people’e lives† (Miguel & Roland 2005, p.

Operational Management Assignment Example | Topics and Well Written Essays - 2000 words

Operational Management - Assignment Example The StarField Hyper Mall is a multinational chain with brilliant success across Europe. This was its first time in settling in the United Kingdom market and this involved endeavors that were different comparatively from other of its branches. One of such endeavor was its absolute helplessness over the fact that most of its partners did not have offices here in this country. As there was an adequate absence of services and partnerships, the company had to look for other partners from the local service industries. This involved new associations and new partnerships and the work that followed was not tested from past experiences but relied on mutual interest. Customers complained of the ‘Rudeness of the staff’, ‘Problems with facilities’ and ‘Reliability’. These are drastic complaints for each of the three complaints directly involves the company’s image. The rudeness in the attitude of the staff affects the customer-company relationship most effectively though. The staff is but ambassadors of the company and if they are found to default in their ethics and handling, it leaves an overall embarrassing reflection of the company’s image (Ali, 2003). Although the staff themselves mostly complained of such faults in attitude on the ‘help staff’, the implications affect the whole company. As the complaints fail to detail the rudeness, a hypothetical situation and subsequent assumptions have to be made in order to cater to this problem. The rudeness of the staff can range from the lack in listening to disability to help a customer in need. It can fall into many categories and can be a direct implication by any staff member of the company, be it the ‘help staff’, the counter staff or even the security. The customer could have had problems with the helping staff unable to provide them with timely assistance or failure to listen to them. The term rudeness can fall into different braches and can indeed include

The Editing in Farewell My Concubine Essay Example | Topics and Well Written Essays - 1000 words

The Editing in Farewell My Concubine - Essay Example When characterizing the film in regards to its technical elements one notes that despite its elaborate mise-en-scene and epic subject matter, the film is shot and edited in a very straight-forward and direct manner. This essay specifically examines elements of editing in Farewell My Concubine and considers the means by which they contributed to the film’s meaning and overriding style. As the film opens the camera follows Dieyi and Xiaolou, in full opera garb, as they enter the vacant auditorium. The film cuts to a shot situated from high in the crowd and the viewer is put in the place of the audience. The juxtaposition of these shots has the effect of first giving the viewer the impression of an upcoming grand performance, and then subverting their expectations with the shot from a distance. It immediately creates a sense of isolation and emotional impoverishment; this is further enforced as the viewer soon discovers that the two performers haven’t performed together since the Cultural Revolution. During this opening scene director, Kaige largely refrains from editing shots together, instead of allowing the scene to develop. Some viewers might immediately be disrupted by this more ‘art film’ style approach, but by not cutting with the frequency the director situates the viewer as an actual member of the audience. The long scenes also establish the film overarching tone as somber and slightly cerebral. Farewell, My Concubine also makes notable uses of montage editing to condense time. While it’s become clichà © for many films to develop an entire sequence of shots that are spliced together to give the viewer the impression of time’s passage, director Kaige has a subtle technique that adds considerable poignancy to the film. After Xiaolou has been forced to sit outside in the snow with a board on his head, the film cuts to the troupe of boys standing outside in the cold reciting  lines.  

Hart & Dworkin Essay Example for Free

Hart Dworkin Essay H. L. A. Hart’s concept of legal positivism was heavily influenced by Austin. However, he breaks with Austinian positivism at three vital junctures. First, he believed that the sovereign law giver is defined by his office rather than being a person who has secured the habit of obedience. Second authority is vested in rule of recognition instead of through the threat sanctions. Finally, Hart believed that laws expand liberty rather than limit it. In a nutshell Hart’s Philosophy of Law builds upon the Command Law Theory established by Austin, corrects its errors and establishes its own doctrines. In his essay â€Å"Sovereign and Subject†, Hart proposed that the habit of obedience does not account for the relationship between subject and sovereign. This inclination to, or habit of obedience, propounded by Austin, asserts that there exists a relationship between a subject and his sovereign. Where this relationship exists we speak of a society. However, since the habit of obedience is a habit backed by threats, it differs little from the idea a gunman coercing a person to give him his purse. Hart opines that a law’s validity does not depend on the existence of social rules. Instead laws exist to promote social order. Hart contributes his conceptual analysis theory to jurisprudence of legal formalism. He postulates that jurisprudence aims to give analysis of the uses to which the concept of law is put in various social practices. Given that all rules have a penumbra of uncertainty, a judge must often choose between alternatives. Simply put, Hart takes legal thought beyond the simplistic Command Theory. To him a law can be valid despite its moral invalidity and sans any coercion backed by threats. Such views on the law can be seen today in the USA Patriot Act. This is morally reprehensible because of the many provisions that potentially violate citizens’ rights. However it is still a valid law promoting the security of American society at large. As a legal naturalist Ronald Dworkin rejects positivism. His chief objection is that moral principles can be binding by virtue of the fact that they express an appropriate dimension of justice and fairness. He espouses the belief that in interpreting the meaning of valid legal rules, it is often necessary to consult moral principles. Curiously, a posthumous edition of Hart’s seminal A Concept of Law gives space to Hart’s response to Dworkin’s criticism of Legal Positivism. In contrast to Hart, Dworkin believes that law is not simply a matter of rules. Moral principles are law even if they are not identified under the rule of recognition. Moral principles can also be said to be law because they have dimensions of justice. As opposed to Hart, Dworkin’s theory on jurisprudence is that judges appeal to binding legal standards that are more discretionary than hard and fast rules. An example is the gravamen of guilt beyond reasonable doubt. Instead of simply relying on their discretion, a judge uses jurisprudence to form a body of as yet unwritten legal standards to back up their decisions. To summarize, Dworkin champions the cause of Legal Naturalism: that laws must appeal to morality to have legal validity. Many of today’s penal laws can be said to espouse Legal Naturalism.

Strategies of Patient Assessment in Nursing

Strategies of Patient Assessment in Nursing Introduction to Nursing Care The purpose of this assignment is to describe how a nurse assesses a patient admitted to a hospital ward. It will discuss the history of the patient, any pre-existing medical conditions and the reason they were admitted to the ward. It will also describe the hospital setting, the nursing model used, the risk assessment tools and the information collected from the assessment including the needs identified and what can be and will be done. For the purpose of this assignment the patient, healthcare professionals and the trust must remain anonymous, and will be referred to by pseudonyms. This is in accordance with the Nursing and Midwifery Council (NMC) code, where it clearly states you must respect peoples right to confidentiality (NMC Code, 2008). The patient receiving assessment and care will be referred to as Mrs Ethel Morris. Mrs Ethel Morris was admitted to an orthopaedic trauma ward within the North West. Orthopaedics is the correcting of deformities to the skeletal joints and bones, which have been caused by damage or disease (McFerran, 2008). The ward consisted of many staff, including, nurses, health care assistants, a house officer, medical consultants and physiotherapists. It had three bays, 2 being female, with 8 beds in each and one ten bedded male bay. Also, there were 4 side rooms for patients that needed to be isolated. This was an acute setting with various Orthopaedic conditions, including fractures of all types. The ward admits patients twenty-four hours a day from Accident and Emergency (AE) and transfers from other hospitals. Many of the patients admitted have pre-existing medical conditions, which have to be taken into account alongside their fractures. Ethel was an 82-year-old lady who had fallen whilst she was out shopping with her daughter. She usually walked with a walking stick to aid her balance, but with a previous history of dementia she had forgotten it. Dementia is a progressive deterioration of the brain, caused by structural and chemical changes within the brain. Symptoms include, memory loss, disorientation and changes in personality (Ouldred, 2007). Ethels friend had called an ambulance immediately after the fall, and she was admitted to the ward through accident and emergency. Ethels fall had resulted in a fracture to the neck of femur in her left leg. Marieb (1998) states that the femur is the strongest and largest bone in the body. It consists of a ball, which is known as the head of the femur, which is carried on the neck of femur to the long bone. The neck is the weakest part of the femur. Elderly people are more at risk of falls as their muscles become weaker they become less flexible. This then interferes with their movement and balance, they become more inactive and this increases the risk of falls. (Skelton et al, 1999) Ethel also has osteoporosis, which may have contributed to her fracture. Liscum (1992) states this is the formation of the bone having decreased. Elderly women suffering from osteoporosis, who subsequently sustain a fractured neck of femur, face a fifty percent chance of not walking again. Ethel appeared confused when she arrived on the ward, not knowing how she had come to be in hospital, apart from being aware of the pain and discomfort she was suffering with her hip. The nursing staff reminded Ethel what had happened and checked her drug kardex immediately for pain relief. The doctor who had seen Ethel in AE had written her up for 5ml of oromorph every three hours to control the pain. As oromorph is a controlled drug the nurse checked the dosage with another registered nurse and give it to Ethel orally. Once Ethel was comfortable, the nurse in charge of the bay began the nursing assessment. An assessment is the collection of information from an individual, to establish their needs and develop a clear prospective of their situation. The nursing process relies upon complete and thorough assessments to be a success. A key nursing skill is observing a patient, using all five senses, from listening to gain information, to touching them, assessing their temperature and the condition of their skin (Brooker and Waugh, 2007) Holland et al (2008) also states that an assessment identifies the priority amongst the problems. Data can be collected in a number of different ways, from observing a patient, communicating with them and through their clinical notes. Collection of information can also be made through a secondary source (a relative), if, for example, the primary source (the patient) was unconscious. A named nurse approach was used on the ward; this provides individualised care for the patient from admission to the point of discharge. Named nursing has been developed from primary nursing and is very closely connected to team nursing. (Dawe, 2008) The ward follows a philosophy of care to meet individual needs. Providing patient centred care, meeting individual needs whilst respecting their privacy, dignity, religious and cultural beliefs. They strive to provide high quality care and aim to maximise the potential of individuals to adapt and cope with their conditions. The wards philosophy reflects the National Service Frameworks (NSFs) quality of care. NSFs are in place to improve care in twelve specific areas, including blood pressure, diabetes and mental health. The standards have been implemented nationally and they have all been set certain time scales. (Department of Health (DOH), 2008) The ward uses most of the NSFs depending on which patient they are dealing with. In Ethels case the main ones being blood pressure and older people, which has eight different standards of its own. The nurse firstly recorded Ethels clinical observations, and her saturations appeared to be very low at only 89%. Oxygen saturations are monitored through an electronic device called a pulse oximeter. This reads the oxygen levels of haemoglobin in the arteries and is updated with each pulse (Jevon, 2000). The nurse immediately put her on four litres of oxygen through a nose cannula. A Nose cannula is two small plastic tubes that are inserted into each nostril to administer oxygen. This allows room air to be breathed in at the same time and is secured by tubing over the ears, which fits onto the oxygen cylinder (Brooker and Waugh, 2007). The nurse carried out Ethels assessment by her bedside with the curtains drawn to respect her privacy. As Ethel had dementia her daughter was present for the assessment, to confirm details and help with the process. Barrett et al (2009) states that nurses who carry out disorganized, incomplete assessments, may fail to notice a major concern, or recognize an underlying problem. Nursing models are used in the assessment process in most care settings. They are in place to establish the information that is required, ways it can be gathered for the best results, and the detail that is likely to be more helpful. (Aggleton and Chalmers, 2000) Roper et al (2000) says that models are used to help organize thinking by creating theory. They are global views that have been summarised into systems. There are many different Nursing Models used in clinical settings from Orems self care model to Hendersons model of nursing. Nursing models are used to provide a distinctive framework, to highlight what the patients needs are (Fawcett, 1989). The nursing model used on this ward was Roper Logan and Tierney, Activities of living model. Roper et al (1996) activities of living consists of twelve activities that ensure survival, these are, maintaining a safe environment, communicating, breathing, eating and drinking, eliminating, personal cleansing and dressing, controlling of body temperature, mobilising, working and playing, expressing sexuality, sleeping and dying. These activities are all as important as each other and one cannot be done without another. The impact of illness will affect more than one of these activities. Roper et al (2000) activities of living was first written in 1980 for nursing practice to be introduced to students. At this time there were five concepts in the model that included activities of living, lifespan and individuality in living. The model became the United Kingdoms most popular model and was also widely used throughout Europe. The nurse used a number of risk assessment tools when assessing Ethel. These were, the malnutrition universal screening tool (MUST), waterlow score, falls risk assessment score for the elderly (FRASE) and the Abbey pain scale. The MUST tool is a nutritional screening tool that recognises over nutrition (obesity) and under nutrition (BAPEN, 2008). The MUST tool was developed so nutritional care would improve in all care settings, by the malnutrition advisory group (MAG) of BAPEN. This tool can be applied to all adult patients, even those who are bed bound (BAPEN, 2008). As a result of the MUST screening tool, Ethel was commenced on a fluid balance chart. This measures the quantity of liquid intake, including Intravenous (IV) fluids and drinks, against the total urine output. Also to be monitored was Ethels food intake, this was to be done on a food chart. This needed updating after every mealtime to show how much was being eaten at different times. The waterlow score is to determine whether a patient is at risk of developing a pressure ulcer (Waterlow, 2005). This tool uses a scoring system, based on patients data. The categories include skin type, age, and continence. (Thompson, 2005) Ethels score was sixteen and she was at high-risk of pressure sores, this was due to her age and mobility. Waterlow (2005) first designed this tool for students use in 1985. It is the most frequent risk assessment tool in the United Kingdom (UK), and is used throughout hospitals, nursing homes and within the community. Pressure ulcers are most common in people with bony surfaces, thin skin and an unhealthy diet. Ethel was found to be a high risk of developing a pressure sore, as she was immobile and had tissue paper skin. The nurse commenced her on a turns chart so she would be rolled or moved every three hours to check and relieve her pressure areas. Also a pressure-relieving mattress was ordered for Ethel, this alternates the body areas under pressure by rotating the air throughout the mattress. (Collins, 2004) The FRASE assessment tool is to assess if a patient is at risk of a fall, taking into account their history and their current state. (Bolton NHS, 2003) Connard developed a fall risk assessment for the elderly in 1996; this was then adapted into a hybrid tool, known as the FRASE tool. It is in similar context to the waterlow score as they both use a points scale to assess the patients level of vulnerability (Kinn and Hood, 2001) The nurse carrying out the assessment began Ethel on a falls care plan, as she was at high-risk from having another fall. A member of staff was to update the care plan each day, noting any unsteadiness or falls. This was going to play a greater part after Ethels operation, as for the time being she was bed bound. The Abbey pain scale was developed in Australia to assess patients pain levels. It was used for individuals who had trouble communicating effectively and who suffered from dementia (Turner-stokes and Higgins, 2007). Abbey (2004) researched and developed the abbey pain scale between 1997 and 2002, and wanted it to be a straightforward and effective tool, used by all health care staff. It consisted of six scales to measure pain including physiological changes to changes in body language. Ethels score was seven and her pain level was acute to chronic during the assessment. The nurse had previously administered 5ml of Oromorph, and because of this the abbey scale was to be updated every hour to monitor the success of the pain relief. During the assessment the nurse collected various information from Ethel, including objective and subjective data. Newson (2008) states that objective data is information collected that can be measured such as temperature and blood pressure. The MUST tool was used to measure Ethels weight, and other observations were recorded, including blood pressure which was 142 systolic and pulse of 84; these were all in satisfactory limits. Any data collected outside the normal range would have been given an early warning score. A doctor and the outreach team need informing if a score totals three or above (Baines and Kanagasundaram, 2008). Also collected was Ethels details that included her, address, date of birth, and her medical history. This can be obtained through medical notes. as original records cannot be tampered with and all records made must be clear and accurate (NMC Code, 2008). Subjective data is information that cannot be measured, for example, information that the patient has given about him or herself, or the nurses insight on the patient (Newson, 2008). The nurse asked Ethel questions to gain this information, if she felt nauseas, or in pain and how she felt about what had happened. Also observed was Ethels behaviour to see if she was agitated or frightened, closed body language showed she was as her arms were wrapped around herself. The nurse also looked at and noted the condition of her skin, nails and hair. Due to Ethels dementia she didnt understand very much of what was going on and didnt know how she had ended up on a hospital ward. Short-term memory is affected alongside some long-term memory loss. This affects the ability to communicate with people and can result in the patient asking the same question repeatedly (LEHR, 2006). The nurse had to keep reassuring Ethel about what had happened, how she ended up on the ward and what her plan was. Communication is a key skill in nursing and it is an essential part in building the patient-nurse relationship. The nurse has to gain lots of information from the patient so it is important to know whether there is a communication barrier, such as a hearing problem or if the patient cannot read or speak the same language. They may need to speak more loudly or slowly so the patient can lip-read (Holland et al 2008). McCabe and Timmins, (2006) states that communication should be focused on the patient, rather than task centred. Listening, empathy and support are essential communication skills in nursing, but the main being to develop a relationship with the patient, and nurses should make time to spend with them. Ethels daughter stayed during the assessment process to help the nurse gain accurate information and communicate effectively with Ethel. The nurse had to speak slowly so she understood, and if she looked confused the nurse would reassure her and repeat the question. This process took a long time but it was necessary so Ethel could gain trust in the nurse. This made her feel more relaxed and comfortable as she could feel the warmth that had developed between them. This assignment has shown how a nurse has an important role in assessing, planning and the implementation of patient care. It has shown that nurses have to obtain data by using a various number of different sources, from assessment tools to observing patients behaviour. The nurse must also use a nursing model to help complete full and accurate assessments of patients and their needs. If there is a communication barrier, nurses must be able to overcome it by using an interpreter or picture cards. The needs identified during the assessment process have to be implemented and care plans introduced. Nurses then have a responsibility to keep regularly updating the care plans by re-assessing the patient on a regular basis.

Key Areas That Affect Profitability And Continued Growth Marketing Essay

Key Areas That Affect Profitability And Continued Growth Marketing Essay The objective of this report is to discuss key areas that affect profitability and continued growth at Starbucks and to provide strategic recommendations. This report can be used to analyze current strategic decision making effectiveness as well as provide a roadmap for Starbucks continued success. Company Background Starbucks is a publicly traded company (SBUX) founded in 1971 in Seattle, WA and is a purchaser and roaster of whole bean coffees. Starbucks produces and roasts high-quality whole bean coffees and sells them along with food items and coffee related accessories through over 7000 plus company operated retail stores. Starbucks also licenses its trademark through other channels known as specialty operations. Industry Definition Starbucks has a variety of industry code classifications including SIC code: 2095 -roasted coffee and NAICS code:  311920 Coffee and Tea Manufacturing. Starbucks is a specialty eatery serving both food and beverage products. Mission Statement Analysis Starbucks mission statement is simple; to inspire and nurture the human spirit- one person, one cup, and one neighborhood at a time. Backing Starbucks mission statement are its six principles on how they operate found in Appendix A. These principles encompass their product, customers, partners, stores, communities, and shareholders and provide the company vision. A well defined company mission statement should include the companys product, market and areas of emphasis that reflects the values of the strategic decision makers in the company (Regis University, 2009). Pearce and Robinson define a mission statement as a unique purpose that sets a company apart from others of its type and identifies the scope of its operations (Regis University, p. 18). As a result of our analysis, we found that Starbucks mission statement coupled with their principles defines the scope of the company operations and aligns with there current strategies. External Environment Porters Five Forces Analysis The Porter 5 forces analysis is a framework for industry analysis and business strategy development developed by Michael E. Porter in 1979. Michael Porters framework sees five major factors that influence a business: threat of substitute products, bargaining power of suppliers and buyers, rivalry between competitors and threat of new entrants to a market. The porters five forces model will help identify where improvements can be made through the current competitive force, threat of potential entrants, bargaining power of buyers, bargaining power of suppliers and the threat of substitute products. Using Porters framework as a guide, Starbucks should consider the following: Power of Suppliers: Starbucks prides itself on its guiding principles one of which states, Our Coffee-It has always been, and will always be, about quality. Were passionate about ethically sourcing the finest coffee beans, roasting them with great care, and improving the lives of people who grow them. Therefore, in keeping with their mission and principles, Starbucks must ensure that the type and quality of coffee it offers is always the same. This means they would use the same suppliers that integrate their standards. Coffee is one of the largest traded commodities in the world. Starbucks is directly affected by Central America in terms of production of the Arabica beans they purchase. The bargaining power of suppliers to the specialty coffee industry would be exerted by either an increase in the price of the beans which are used in the production process, or by a threat of decline in the quality or quantity of the coffee beans themselves. An over-populated market could also give the suppliers more bargaining power. Starbucks needs to be aware of supplier power and potential price increases. Power of Buyers/Customers: A buyer group is powerful if the industrys product does not save the buyer money (Pearce and Robinson, 2007) This is a plus for Starbucks as their coffee products are higher in price and considered a luxury brand. Starbucks is much more concerned with the quality of their product versus price. However; the other consideration is small local coffee companies that were around before Starbucks took over the marketplace. These smaller coffee shops may have their core customers who will not give their business to anyone else. Available Substitutes: Starbucks must be aware of substitute products. Given the current grave economic crisis, consumers are vying towards less expensive alternatives than the luxury coffee Starbucks provides. This effect could alter Starbucks current pricing strategies.   As more substitutes become available, the current pricing model would become more elastic since customers have more alternatives.   Potential substitutes include bottled water, healthy water/juice drinks, and at home espresso machines.  Ã‚   Current Competitors: While companies like Dazbog and Caribou Coffee appear to be the most obvious competitors, McDonalds and Dunkin Doughnuts are Starbucks tops competitors. Both these organizations can compete with Starbucks in terms of sandwich items and coffee related products. More of a concern with these two competitors is their pricing modules. Both competitors are priced less than Starbucks products. Threat of New Entrants: Starbucks provides a luxury good that consumers often scale back on when they want to save money. In 2007, Starbucks saw its shares fall more than 30% partly down to customers deserting it for cheaper rivals. As McDonalds and other chains like Dunkin Doughnuts realize the money in luxury coffee more companies will begin to enter the marketplace offering similar product lines for less cost. Remote Environmental Factors Economic- Economic factors concern the nature and direction of the economy in which a firm operates. Current recession trends imply a reason for concern for a luxury brand like Starbucks with regard to the companys financials. Social- Promoting the health benefits of coffee remains a challenge for the industry and consumers are often confused with the myths propagated by the media. Social concerns regarding caffeine, and it addictive properties also need to be considered. Political-Current tensions in the Middle East and boycotts of American made products are strategic concerns for Starbucks globalization plans. Starbucks also imports their coffee beans and thus any changes in import laws should also demand special attention.    Ecological Factors- Starbucks also has a strong environmental mission statement. Starbucks promotes ethical sourcing, contributes heavily to their communities, as well as continually strives to buy, sell and use environmentally friendly products. Starbucks uses key performance indicators to be sure they are measuring the degree to which they fulfill their social and environmental responsibilities. Starbucks should maintain abreast of any changing environmental legislation that could impact their corporate strategies.   Ã‚   Technological Factors -Starbucks has been continually looking for ways to enhance the customer experience. They have also expanded their partnership with ATT. ATT offered consumers WiFi service in more than 7,000 Starbucks locations in the U.S. in spring of 2008. Industry and Competitive Environments When in a recession, luxury products tend to decline and coffee is no exception. Consumers dont find as much worth in spending $4.35 for a cup of coffee when they can purchase the same size coffee at 7-eleven for $1. 75. However, Starbucks has an immediate plan for continued growth including the introduction of its instant coffee line. Despite the challenging economic environment, Starbucks is profitable, has a strong balance sheet and generates solid cash from operations, said Schultz, CEO of Starbucks Corporation. The company is also making strategic investments in key initiatives by: Entering the $17 billion instant coffee market earlier this month with the launch of Starbucks VIAà ¢Ã¢â‚¬Å¾Ã‚ ¢ Ready Brew instant coffee; Growing its consumer products, licensed stores and foodservice channels; and Focusing on disciplined global store expansion in key markets. Operating Environment Pearce and Robinson (2007) stated, The operating environment factors in the immediate competitive situation that affects a firms success in acquiring needed resources. Starbucks current operating environment includes threats from competitors and rising expenses including fluctuating costs of dairy products. Price increases could have a negative impact on traffic. As of 2007, Starbucks has less than a 10% share of all of the coffee consumption in North American, and less than 1% internationally. International Environment Starbucks is an organization that operates in an international market both with regard to retail locations and use of international suppliers. Thus, Starbucks needs to consider the countries involved in its international partnerships and the impact it can have on their business strategies with regard to political, social, economic and legal locality concerns and events. Internal Analysis SWOT is an acronym for the internal strengths and weaknesses of a firm and the environmental opportunities and threats facing that firm (Pearce Robinson, 2007, p.153). Starbucks has several strengths, weaknesses, opportunities and threats that are listed in Appendix B. Strengths: Key strengths for Starbucks include the value of their employees and their corporate culture. Starbucks considers its employees partners which provides a sense of inclusion for those who work there. Also, Starbucks was one of the first organizations to offer full benefits for part-time employees. Another key strength for Starbucks is brand loyalty and name recognition. Howard Schultz, CEO, has created an every day item and turned it into a mega brand similar to Nike. Starbucks is on every street corner, in your local supermarket, and in your bookstores and campuses nation wide. Weaknesses: A key weakness for Starbucks is weakened innovation and creativity. According to Schultz, the Starbucks experience is about passion for a quality product, excellent customer service, and people. With over 4500 coffeehouses in 47 countries Starbucks coffee becomes somewhat of a commodity. In a February 2007 memo, Schultz warned top executives about over saturation of the brand. Diminishing growth opportunities are likely. Opportunities: Starbucks is a global corporation that sells its coffee in more than 16,000 coffee shops in more than 35 countries. Continued global expansion is an important opportunity. Starbucks has established relationships with PepsiCo, Barnes and Nobles, Dreyers Ice Cream and other major brands. Opportunities include continued co-branding with major manufacturers of food and drinks that have greater potential and enable further global expansion. Finally, another key opportunity is the creation of additional coffee related products and an expanded menu. Threats: Substitute products influence the demand for a companys product. More substitutes offer a bigger choice for customers and thus Starbucks has to be aware of potential substitutes available. Given the weakened economy, these substitutes become more desirable if they are a lesser cost than Starbucks offerings. With a weakened economy also comes an increase in purchasing cost for coffee related products and dairy products; both of which impact the return on investment and profits for Starbucks. Resource Based View (RBV) Analysis Resources are the distinct combination of assets, skills, capabilities and intangibles of an organization (Pearce Robinsons, 2007, p. 164). Examination of Starbucks resources can provide a method to analyze strategic advantages and assist with strategic planning. There are three basic resources reviewed when using this method; tangible assets, intangible assets, and organizational capabilities. Tangible Resources-Tangible resources are the physical and financial means a company uses to provide value to its customers (Pearce Robinsons, 2007, p. 165). Examination of Starbucks balance sheet shows inventories make up largest portion of their assets at 692.8 million of the 1, 748 billion in total current assets. Interestingly, cash and cash equivalents make up a mere 269.8 million of current assets. Starbucks owns 5 Roasting and Distribution locations, 9000, company operated retail stores, 205, 000 sq foot office building with 36,000 sq ft plot of land totally 2,956.4 million in net assets. Intangible Resources: A companys intangible resources are also important to the overall business advantage. Brand recognition is a key intangible resource for Starbucks. Starbucks reputation is positive and they are known for high quality coffee coupled with high quality customer service day in and day out. Starbucks has also used their brand recognition to introduce new products including bottled coffee drinks ice-cream products, and home espresso machines, and this intangible asset provides overall reliability that is difficult for competitors to penetrate. Other intangibles include quality of locations; skill at citing new shops; employee training, skill at customer service, and morale; employer of choice-Forbes 100 Best Companies to Work for 2007, 2008. Organizational Capabilities: Howard Schultz continues to strengthen Starbucks top management team, hiring people with extensive experience in managing and expanding retail chains. Starbucks also maintains and continues to expand its ownership of desirable locations so location analysis is a capability which allows the company the ability to increase quality of the same input factors as their competitors. Value Chain Analysis The term value chain describes a way of looking at a business as a chain of activities that transform inputs into outputs that customers value (Pearce and Robinson, 2007, p.158). Primary Functions Include: High quality product, Ethical coffee sourcing and fair trade, global responsibility, and Baristas (quality of customer service).  Inbound logistics: negotiation with coffee providers, purchasing, receiving, processing, distributing raw materials to service sites.   Support Functions Include: Coffee Master training program, desirable locations, and modern technologies and research and development. Plus traditional organizational support functions such as HR admin, accounting and finance, marketing, etc. Strengths of the value chain for Starbucks include their high quality product and the sourcing and creation of their product. Starbucks is committed to ethical sourcing and fair trade. Starbucks is also globally responsible and has introduced a shared planet program thus producing a sustainable image. This differentiates their product from their competitors. Weakness of the value chain for Starbucks include over saturation of the brand and diminishing growth opportunities due to buying out their competitors in prime real estate locations. Financial Analysis Liquidity Starbucks 2008 Industry Median Current Ratio 0.80 0.89 Quick Ratio 0.50 0.50 A current ratio measures how well Starbucks is able to meet its short term obligations. A quick ratio measures the same, minus inventories. Starbucks current ratio aligns with the industry median which means their current ratio is considered a norm for the industry. Their quick ratio also aligns with the industry median suggesting that the company doesnt have too much of its liquid assets tied up in inventory and that they are not dependent on the sale of that inventory to finance operations. The ratios above generally imply that Starbucks is able to pay its short term obligations including items such as vendor bills, rent, utilities and payroll. This number also indicates that Starbucks is credit worthy because they have enough cash to pay off their short term debt and suggestive that they pay their bills on time. Activity Starbucks 2008 Industry Median Inventory Turnover 8.3 29.2 Total Asset Turnover 1 1.2 Inventory Turnover Ratio describes how quickly product is being sold. Starbucks inventory turnover is 8.3. The industry median is 29.2; suggesting that Starbucks is lagging in ability to turn over its inventory compared to its competitors. With a ratio of 8.3, Starbucks essentially filled and sold everything on its shelves eight times in the year 2008, while the competition filled and sold 29 times. Total Asset Turnover offers managers a measure of how well the firm is utilizing its assets in order to generate sales revenue. An increasing ratio would indicate that the firm is using its assets more efficiently. Starbucks 2008 ratio was 1, slightly lower than the industry median, and their 2007 ratio was 1. This implies that Starbucks hasnt changed the way its using its assets. As this number also indicates pricing strategy and thus suggests that Starbucks has not changed its pricing strategy in the past two years of data. Profitability Starbucks 2008 Industry Median Gross Profit Margin 55.30% 42.16% Net Profit Margin 0.88% 7.67% Gross Profit Margin represents a firms money left over after the cost of goods sold. Gross Profit Margin helps the company pay for future liabilities and future savings. Starbucks earned 10,383 million in revenue for 2008. Their ratio of 55% indicates that they made roughly a little more than 50 cents for every dollar earned after the cost of goods sold was subtracted. Net Profit Margin Ratio depicts how much of every dollar earned a company keeps in earnings. Starbucks is much lower than its industry median. A higher profit margin indicates a more profitable company that  has better control over  its costs compared to  its competitors. As Starbucks markets itself as a luxury brand and charges on average four dollars for a cup of coffee, its no wonder its much lower than its competitors. This number can also indicate that Starbucks operating costs to produce their luxury coffee is increasing in cost. These items include dairy products, coffee beans, cups, syrups etc. Finally Starbucks has a high gross profit compared to a low net profit. This could suggest that Starbucks isnt very good a controlling their expenses. Leverage, Earnings Per Share, Price/Earnings Starbucks 2008 Industry Median Debt to Equity 1.28 1.17 Debt to Assets 0.56 The debt/equity ratio shows how much a firm has borrowed as a percentage of its stock equity. Often, the lower, the better. Starbucks ratio suggests that it is not borrowing heavily against the stock equity compared to its competitors. Debt to assets ratio shows what portion of funds is being provided by creditors. Starbucks ratio shows that they are using very little credit. Price to Earnings Ratio: 127 According to Benjamin Graham, and investment is considered speculative stock when it has a P/E higher than 15, regardless of industry. Warren Buffet currently trades on this rationale. Using this rationale, that would suggest that Starbucks is severely overvalued. If we were to follow Benjamin Grahams theory on speculative stock, Starbucks should be trading at a 1.80 per share. The industry average for P/E is approx 20-25 under current finance ratios. This number fluctuates based on current stock price. Therefore Starbucks range should be from 2.40-3.00 per share. Earnings Per Share-12 Cents (1 Q, 2009) Earnings Per Share shows how many dollars in profit were earned per outstanding shares of the common stock. The current EPS would show that Starbucks business has pulled back considered since 2008s quarterly reports which listed EPS at 43 cents per share. Therefore, based on this information, an investor could make the assumption that Starbucks debt is virtually equal to there income. And given one more or two more quarters of loss, the income would be less than the debt and would set the company up for a loss. This could generate from closed stores, overstock of inventory, and inflation. Strategy Recommendation A generic strategy is a core idea about how a firm can best compete in its current marketplace (Pearce Robinson, 2007). While Starbucks has many different strategies to consider, a generic strategy is currently recommended below given the research found in this report. Recommended Strategy For Starbucks: Differentiation Starbucks can best achieve its long terms strategies by continuing to strive to create and market unique coffee based products to varied customer groups through differentiation. The following direction points will be the basis for the competitive strategy: Rivalry will be reduced with successful differentiation. As Starbucks markets itself as a luxury brand and experience, customers will be less sensitive to prices if Starbucks products are successfully differentiated. Starbucks differentiation and focus strategy pushes customers to brand loyalty which will make it difficult for new entrants to overcome. Starbucks currently exhibits and utilizes both differentiation strategy and the focus strategy. Starbucks has developed a customer loyalty that enables the firm to charge a premium price for its products. Starbucks demographic composition of their consumer base is narrow in direction. Their target consumer is middle to upper class and an educated coffee drinker who prefers quality and customer service over a low-cost price. This suggests that the firm is using a focus strategy anchored in a differentiation base because they attend to the needs of this demographic. Starbucks has differentiated themselves from their competitors by providing an image of the luxury coffee experience and should continue this approach for long term growth and profit. Implementation With regard to implementation, the following outline is recommended. initiate specific functional tactics outsource nonessential functions communicate policies to all partners design effective rewards Starbucks can successfully implement their implementation plan by turning their strategy into action by following the steps below: continue to provide and create new products perceived of higher value to buyers create a new products business unit for streamlined product development introduction analyze current economies of scale to reduce costs continue to develop and motivate there partners as they are there best assets. continue closing of under performing stores as needed increase global presence in prime locations to wash out weakening domestic economy issues Evaluation and Control Starbucks should evaluate these goals quarterly beginning in 2009 to avoid potential losses and provide for ample time for development of contingency controls. Starbucks can measure success by analyzing the following metrics with regard to new strategies and products: Return on Investment Net Profits Partner Feedback-Starbucks values its partners and considers and considers them one of their greatest strengths. Customer Feedback-Continued customer satisfaction is key to the success of the business. Leadership and Ethical Concerns Howard Schultz is a CEO who embraces change and someone who has a strong strategic plan. His vision is currently being announced in his transformation agenda which essential brings Starbucks backs to its roots. It is a simple plan and it is compelling. His ethical standards are directly tied to the culture of the company and at present is not a concern. Starbucks guiding principles found in Appendix A keep the company focus driven on providing high ethical standards across all business operations.

Abortion: A Woman Has the Right to Choose Essay -- Argumentative Essay,

As a man, I often struggle with the thought of being able to tell a woman what she can or can not do with her body. While I may not be fond of her hairstyle, make-up, or the revealing nature of her outfit, I understand it is her body and her decision to do with it as she would see fitting. However, while I let a women express her personal freedoms to choose, there are those that view the exact opposite. The United States was founded upon the principles that everyone is guaranteed the â€Å"certain unalienable rights†¦ of life, liberty, and the pursuit of happiness† according to the Declaration of Independence (1776). Consequently, by establishing laws that hinder a woman’s innate ability to select how she can and will live her life, we impede her opportunity to be a recipient of the rights that many men and women risk their lives for. Parenting is regarded as one of the most arduous jobs in the world. There is no instruction manual on how to educate, nurture, or r ear children, as each child is different from the next. Furthermore, it is a job in which you will always be on duty, there are no vacation or sick days, and you never get paid. Not only do women endure the child rearing part, often times alone, they must also provide and maintain a steady and financial home since they are responsible for a life that can not yet function viably as an adult. Lamentably, it is due to the demands of raising children that some women choose, since they feel they are not ready, to not become a mother. Although abortion is seen as the termination of a young life, it is ultimately the choice of the woman, not the government or the opinion of society to decide whether or not a woman can choose abortion as an alternative to pregnancy. An abortion is t... ...he feudal lifestyle where women were the homemakers and men were financial providers for the families. Women are now more independent and finically able to care for themselves and their families should they choose to have one. However, it is all dependant upon their choice, which is how it should be. Works Cited Anderson, K. (2001). Wartime Women: Sex Roles, Family Relations, and the Status of Women During World War II. Berkley Books, New York. Benson, L.D. (2000). The Wife of Bath‘s Tale. Retrieved from Harvard University: www.courses.fas.harvard.edu/~chaucer/. Honey, M. (1983). â€Å"The Working-Class Woman and Recruitment Propaganda during World War II: Class Differences in the Portrayal of War Work† Journal of Women in Culture and Society, 8 (4). 672-687. University of Chicago Press: Chicago. Retrieved from http://www.jstor.org/stable/3173689

Doc Holliday :: essays research papers

Few gunmen in history have been as notorious as the late John"Doc" Holliday. Part of the reason Doc has enjoyed such a famedhistory is because of the overall descent man he was, that is when hewasn’t gambling, drinking, and gunslinging. When Doc died he mighthave had a handkerchief, a pocket knife, a deck of poker cards, a flaskhalf full of whiskey, and a small essay entitled "My Friend DocHolliday" by Wyatt Earp. The most important item Doc would have had on him when he diedwas a handkerchief. Doc most likely had a handkerchief because of thesevere case of tuberculosis he had, which led to his untimely demise. Doc contracted this disease while traveling the west, staying up long hours, drinking, smoking, and gambling most of the time he was awake. This handkerchief would have helped Doc wipe up any blood, and ordead lung tissue he might have coughed up on his last day of life. Doc was not only a very sick man, he was also a very cultured man. Being cultured might have provoked Doc to wear a handkerchief as a fashion accessory, because rumor has it that although Doc was a mans man, he still liked to look as good as possible no matter where he went. This handkerchief in his eyes may have shown people his intelligent, well educated side. This educated side is a side of Doc that few people know about today. Usually when someone hears the name Doc Holliday, they think about fighting, drinking, and gambling, all of these are true of Doc, but these people had barely scratched the surface. As a young man Doc attended Valdosta institute where he became knowledgeable of the Greek, Latin, and French languages. Amazingly Doc’s favorite subject was rhetoric, his teachers claimed that Doc had a way with words unsurpassed by anyone in his class. All of these factors may have contributed to Doc having a handkerchief with him on his final day of life. A second item which might have been found in Doc Hollidays pocket on the day he died is a small pocket knife. Doc might have had a pocket knife first of all because he was a dentist by trade. Being adentist may seem like it has nothing to do with having a pocket knife,but being a dentist by trade helped Doc develop amazing skills with cutlery. Doc was famous mostly for his gunrunnig, but could rarely be found without a pocket knife.