The Riskless Asset Rate Algorithm Finance Essay - Free Essay Example

Sample details Pages: 6 Words: 1679 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? It is known that the analysts use the treasury bills, notes or bonds rates, to define the riskless asset and its rate of return for modeling the capital market by the Capital Asset Pricing Model (CAPM), portfolio selection and performance analysis, using the Modern Portfolio Theory (MPT). Due to the fact that these securities do not have a continuous market in Romania and it cannot be followed day by day the evolution of their interest rate, I considered as a possible measure for the riskless security rate (a pure interest rate as Sharpe named it) the free risk interest of the Romanian financial market [William Sharpe (1970)]. By definition, the free risk asset is a financial security, consequently for a more accurate measure, I believe that the representative market for the financial market is the inter-banking market. Don’t waste time! Our writers will create an original "The Riskless Asset Rate Algorithm Finance Essay" essay for you Create order I defined several financial securities with equal rate of interest with BUBOR, for the borrowing free risk rate, and BUBID for the lending free risk rate, respectively the Romanian inter-banking market rates for lending or borrowing on a period starting with a day to a year. The daily values of these gathered interests in the Analyze Period (AP) (02.07.2001 -08.07.2003 respectively 2 years, each of 245 transaction days) determined the daily average value and the risk associated with every financial security, measured through variance of return. The free risk security rate of return for lending and respectively borrowing is situated in the risk-return space, on the vertical axe, in the points where the capital market line (CML) represented by two regression lines using the daily average rates of BUBOR and BUBID interests, intersects it. In order to point out the fact that the values are valid on the market, in this paper I compared, in the risk-return coordinates, free risk s ecurities thus determined, with currency securities EURO and DOLAR, and also with BET-C synthetic capital asset. I applied in several studies this method for calculating the free risk rate determined in the Romanian inter-banking market and all the results where accurate, providing dates confirmed by the subsequent market trend. . The riskless asset rate algorithm In order to measure the rikless security interest rate, or the pure interest, I will use the daily dates collected from the Romanian inter-banking market in the AP period and I will define financial synthetic assets, which will be the benchmark within the algorithm. To make the comparison of these rates with the similar rates on the secondary capital market, I will rely on capital market specifically analyze tools, expected return measured by the average rate of return and the risk measured by the variance or by the standard deviation of return. The financial securities which I will define will have the equal rate of return with the BUBID and BUBOR interest rates. The riskless financial security rate was determined throughout financial securities with equal return with the following rates: BUBOR TN, BUBOR 1W, BUBOR 1M, BUBOR 3M, BUBOR 6M, BUBOR 9M, BUBOR 12M and respectively BUBID TN, BUBID1W, BUBID 1M, BUBID 3M, BUBID 6M, BUBID 9M, BUBID 12M. In other words, I used the Roman ian inter-banking market rates for lending or borrowing on a period starting with a day to a year. These rates will represent the benchmark for the rikless rate. At the same time, we consider that the market provides a continuous possibility to lend and borrow, and BUBID ON and BUBOR ON are the representatives rates in the market. The inter-banking market is the representative market for the entire monetary market and includes the risk less security. In the same time, Sharpe defines the riskless asset as a financial security. The investors which will hold positive amounts will lend. Others will hold negative amounts; they will borrow. The total value of riskless securities issued by the borrowers will equal the total value purchased by the lenders. For the daily rates calculation BUBORt or BUBIDt, in the analyze period (AP) accordingly with the stock exchange transaction days, I used the following formula: _Ec. 1ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"1 where: is the a nnual rate of return on a day by day basis. Next, we define as a measure of the financial securities risk in the inter-banking market, the standard deviation of return of those assets. The same measure was used by Tobin. [Tobin (1967)]. In table 1-1 we can observe that these assets have a different value from zero risk. In order to determine the riskless asset average rate of return, we will go to make the next judgment. Free risk rate is actually the rate of return of a financial security which has, by definition, a zero risk. But for placing it in the risk-return coordinates, this security must have a zero standard deviation and the rate of return situated on CML (considering that the market is in equilibrium) similarly with the financial assets described previously (BUBOR and BUBID) . We also know that BUBID rate defines a passive interest rate, paid by a bank for the attracted deposits, but from the financial investor point of view, BUBID can be considered as the lending rate of return. The average BUBID rates will determine the riskless lending rate (RFRd). The average BUBOR rates can be calculated using the daily BUBOR rates, which are active interest rates, received by a bank for a granted credit, or for a financial investor BUBOR is the borrowing rate of return. The average BUBOR rates will determine the riskless borrowing rate (RFRi).In conclusion BUBOR and BUBID rates will be used as benchmark for the values RFRd and respectively RFRi. In the MPT, borrowing means the issuance of financial securities, whereas lending means purchasing those securities. Consequently the lender is an investor that purchases the riskfree asset, whereas the borrower is issuing the riskless security. In the lending case, we will consider the free risk asset as a deposit with an equal rate of return with the pure interest rate RFRd, and a zero standard deviation of return. In the issuing case, the free risk security is a borrowing with an estimated rate of return RFRi, and likewise the risk, measured by the standard deviation of return, has a zero value. Holding the riskless financial security, or purchasing it, means a positive proportion in the lender portfolio. Issuing a riskfree financial security represents a negative proportion in the borrower portfolio. Appling the previous described algorithm resulted the following dates presented in table 1-1. Table 1ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"1 Nr. Denomination Average RAP Annual average rate VarAP StDev Annual StDev 1 BUBOR ON 0,1001% 27,77% 0,000006% 0,0245% 0,38% 2 BUBOR TM 0,1001% 27,77% 0,000006% 0,0245% 0,38% 3 BUBOR 1W 0,1020% 28,36% 0,000006% 0,0238% 0,37% 4 BUBOR 1M 0,1028% 28,63% 0,000005% 0,0233% 0,36% 5 BUBOR 3M 0,1034% 28,80% 0,000006% 0,0241% 0,38% 6 BUBOR 6M 0,1039% 28,96% 0,000007% 0,0260% 0,41% 7 BUBOR 9M 0,1046% 29,20% 0,000008% 0,0277% 0,43% 8 BUBOR 12M 0,1053% 29,40% 0,000008% 0,0288% 0,45% RFRi 0,086% 23,44% 0,0000% 0,00% 1 BUBID ON 0,0771% 20,79% 0,000006% 0,0252% 0,40% 2 BUBID TM 0,0791% 21,38% 0,000005% 0,0220% 0,34% 3 BUBID 1W 0,0837% 22,74% 0,000005% 0,0222% 0,35% 4 BUBID 1M 0,0875% 23,90% 0,000005% 0,0225% 0,35% 5 BUBID 3M 0,0874% 23,86% 0,000006% 0,0238% 0,37% 5 BUBID 6M 0,0874% 23,86% 0,000007% 0,0259% 0,41% 7 BUBID 9M 0,0876% 23,94% 0,000007% 0,0267% 0,42% 8 BUBID 12M 0,0879% 24,01% 0,000008% 0,0278% 0,44% RFRd 0,068% 18,12% 0,0000% 0,00% Figure. 1ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"1 For the AP period, I applied all these considerations, and as a consequence, I determined for the lending riskless rate (RFRd) an average daily value 0,068%, and an annual value 18,12%. For the borrowing riskless rate (RFRi) I obtained a value of 0,086% for the daily average rate, and 23,44% for the annual value. The values and the calculation method can be observed in figure 1-1. To determine the RFRd value I constructed a regression line (CML) for the BUBOR daily average rates of return, and for RFRi value a second regression line for the BUBID daily average rates of return. The values of the riskfree rate are presented also in the equations of the two CML lines. _Ec.-1.2 In _Ec-1.2 is written the general equation for CML, where Rp is y from the figure 1.1, RFRi equals 0,086%, =66,21% and x is and similarly for the second line. . BET-C capital asset, and the currency assets EURO and DOLAR In order to realize a comparison of the free risk rate of return with other financial assets rates, I defined, in the same frame of risk-return coordinates, two currency assets: EURO and DOLAR. The rate of return of these two securities was determined by adding the return of the exchange rate evolution and the BUBID ON rate of interest (Ec. 2-1). In other words, we considered that the currency market is liquid, there are no transactions costs, and the financial securities find immediate the investment possibility. In our case, once there where transactions, DOLAR and EURO assets will be lend at a BUBID ON rate. Figure. 2ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"2 The daily rates of return of EURO and DOLAR where calculated as follows: _Ec. 2ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"2 where : is the daily rate ROL/EURO Table 2.1 shows the values for the rates of return and risk obtained for the AP period. Table 2ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"2 Nr. Denominatio n Average RAP Annual Average Rate VarAP StDev Annual StDev 1 EURO 0,16% 48,94% 0,0035% 0,59% 9,20% 2 DOLAR 0,10% 28,61% 0,0011% 0,33% 5,22% Figure. 2ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â€š ¬Ã‹Å"3 Using the same method we defined the average rate of return and the risk of BET-C. For the analyze period AP, its average annual rate of return is 58,76%, and the annual standard deviation is 23,31%. Analyzing figure 3-1 and 1-1 we can conclude that the currency assets have a greater risk than the monetary assets BUBOR and BUBID, but in the same time less then BET-C, the representative for the capital market portfolio. Conclusion The method described above, for determining the riskless rate of return on a emerging capital market as the Romanian market is, provides a rapid and exact measure and can be successfully used in the portfolio analyze and selection and for evaluation of portfolio performance. The free risk rate method generates in the same time the lending riskless rate and the borrowing free risk rate, both used by the CAPM analysts for determining the efficient portfolio. We demonstrated using the risk-return space that the currency assets EURO and DOLAR have a greater return than the riskless asset and the monetary assets BUBOR and BUBID and less than BET-C. But in the same time they have a greater risk than the monetary assets and less than BET-C. That is in fact the case in any functioning capital market: the financial securities are safer, but with less expected return than the capital assets. This algorithm was applied for the capital market analyse I realised for the philosophe doctor deg ree thezis.[Adrian NiÃÆ'†¦Ãƒâ€šÃ‚ £u (2004)]. The results where realistic, and provided a verry good forecast of the Romanian capital market.

Synergetic Solutions Essays - 1298 Words

Week 4 Individual Assignment: Synergetic Solutions Susana Pena COM 530 Mark Busby Univ. of Phoenix February 5, 2013 * Describe at least three internal and external forces of change for Synergetic Solutions. * * * The external forces of change for Synergetic Solutions include technology, economic shocks, and competition. Technology is the one force that has caused for companies in the technology business to stay innovated and have skills be up to date with the needs of customers. Synergetic Solutions made the attempt to rely on a type of business that would promote slow and steady change and for employees to sustain their skills for a long period of time. Technology is not slow and steady and companies are†¦show more content†¦Prior to competition, Synergetic Solutions did not have a need to compete in its prior market (Robbins amp; Judge, 2011). * * What factors does a leader in this organization need to consider to implement a change strategy successfully? 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The Vietnam War Free Essays

The Vietnam War Free Essays War is always a controversial topic whenever it is discussed in a political setting, or even a private conversation between friends. No War has ever been a more controversial than the Vietnam War. The Vietnam War was the longest War the nation has ever engaged in. We will write a custom essay sample on The Vietnam War or any similar topic only for you Order Now The United States entered the war in 1961 and pulled out in 1975. Although the death toll did not reach as high as the civil war, or either World War One, or World War two. The Nation still lost over fifty thousand soldiers in the deadly conflict. After World War two the French returned to controlling Indochina, but democracy in all areas of Indochina were not welcomed. Ho Chi Minh tried to downplay the tension to Washington, and show his respect for democracy, but a resistance was formed against the French. The French army and their American advisors seriously underestimated the Vietnamese Independence League and thought a victory would be easy. In 1953, President Eisenhower sent military aid to the French along with military advisors to Vietnam to prevent a Communist victory. However, a year later in 1954, around 10,000 French soldiers surrenders after a crucial battle at Dein Bein Phu at which around 8000 Viet Minh and 1500 French soldiers died. After this crucial loss the French decided to pull out completely after eight long and bitter years of fighting. The Americans at this point, had already invested billions of dollars in aid to the French and decide to enter and to step up their presence in Vietnam heavily. The U. S. main objective upon entering the war was to stop the spread of communism and to put a halt to the â€Å"domino† theory. In 1961, Soviet premier Nikita Khrushchev called the Vietnam War a ‘wars of national liberation’ and greatly supported communist in North Vietnam under Ho Chi Minh. Heavy volumes of U. S. roops began to arrive in South Vietnam in 1961, as well as economic aid. The Americans showed their support to the President Ngo Dinh Nheim and joined forces against the North Vietnamese and Viet Cong. By 1961, The United States were heavily involved with the war both in military and in economic support. John F. Kennedy became president and virtually inherited this new war. Kennedy s aw the Vietnam War as another by product of the Cold War. Kennedy became excited about using his military, and his â€Å"flexible response â€Å"military strategy. The Army began a new training program in counter insurgency called Special Forces. Like a kid with a new toy, Kennedy was eager to use his new elite, unconventional small armed tactical soldiers named the Green Berets in the jungles of Vietnam. â€Å"Despite American aid, the corrupt and repressive Diem regime installed by Eisenhower in 1954 was losing ground†. (Henretta, 830) The North Vietnamese had formed a revolutionary movement called the â€Å"National Liberation Front†. (Henretta, 830) The National Liberation Front (NLF) had their own specialized guerilla warfare soldiers known as the Vietcong, and they were fighting in their backyard. Once again, the Americans had not fully realized what they were up against. We had not learned the lesson from the French, and even with more troops on the ground and Special Forces Green Berets in the fight, the North Vietnamese were collecting one small victory after another. This was an unconventional type of warfare that America was not prepared for in more ways than one. When talking about guerilla warfare this is one rule that must be followed to have a successful guerilla campaign. When a smaller force is going up against a larger force, and are outnumbered and out gunned they must follow this rule to have any sort of real success. Guerilla warfare is primarily composed of shoot and move, hide and seek tactics. These tactics will work very well if you have support from the surrounding civilian populous. â€Å"The NLF’s guerilla forces-the Vietcong –found a receptive audience among peasants alienated by Diem’s strategic hamlet program, which uprooted whole villages and moved them to barbed -wire compounds . â€Å"(Henretta, 830) To further separate the natives from the American interest and Diem, militant Buddhist monks began protest in dramatic fashion. These protest included self- immolation and were captured on film by American television crews. Eventually Diem was overthrown and assassinated; this was not something that was anticipated by Kennedy. By this time, the United States had around 16,000 ‘advisors’ from helicopter crews to Green Berets. President Kennedy was at a point of putting full responsibility on South Vietnam for winning their own war and completely pulling out all U. S. aid. In a CBS interview â€Å"Kennedy had remarked that it was up to the South Vietnamese whether there would be won or lost. †(Henretta, 830) History will never know if Kennedy really would have pulled out of Vietnam like he hinted he had plans of doing so. On November 22, 1963 President Kennedy was shot and killed in Dallas Texas. Kennedy’s closest advisors argue that is exactly what he was planning on doing , but we will never know, and to some that argument downplays the stakes of what the Vietnam was really about and what it represented. â€Å"The United States was now engaged in a Global War against communism. Giving up in Vietnam would weaken America’s credibility. And under the prevailing domino theory, other pro-American states would topple after Vietnam’s loss. (Henretta, 830) Just as Kennedy inherited the Vietnam War from Eisenhower, Lyndon B Johnson had now inherited it from Kennedy. Although Kennedy may have been planning a full removal of U. S. troops and economic aid. However, it was almost a completly different war than what Kennedy first inherited. Johnson knew by this point that preventing the fall of South Vietnam would take a large scale military force that had not been committed to South Vietnam . This was not an option for Johnson who was a firm believer in global containment. In fact, this was his position upon taking office. I am not going to lose Vietnam; I am not going to be the president who saw Southeast Asia goes the way China went. ’(Henretta, 835) Johnson was a bit of a sneaky fellow; he kept his foreign affairs out of the limelight, and had a tendency to do the complete opposite of what he said he would do when dealing with the Vietnam War. He did not think the American populous would have the stomach, or the will to do what he ultimately thought was necessary. In 1964, Johnson ran on the pledge that there would be no escalation, and that â€Å"no American boys fighting Vietnams fight. (Henretta, 835) Well Johnson being a slick talker, said one thing and did another. In the summer of 1964, Johnson got reports that North Vietnamese torpedo boats had fired on the U. S. destroyer the Maddox. â€Å"In the first attack, on August 2, the damage inflicted was limited to a single bullet hole; a second, on August 4, later proved to be misread radar sightings. The specifics of the ‘attacks’ really did not matter; this is all Johnson needed to sensationalize. A classic strategy used through the military in U. S. military. Whether or not this was a necessary man ever to encourage U. S. involvement in Vietnam a debatable. None the less, Johnson’s request to â€Å"take all necessary measures to repel any armed attack against the forces of the United States and to prevent further aggression† was popularly voted in by Congress. The Gulf of Tonkin resolution gave President Johnson the authority to conduct operations in Vietnam as he saw fit. In 1964 Johnson had successfully put the elections behind him. Now he could really get to work on the American takeover in Vietnam. The escalation took on two forms in 1965 and really got rolling. The first form of escalation was the deployment of American troops. The Second form was the increased bombing of North Vietnam. In early 1965, U. S. Marines were patrolling the shores of Da Nang, their main objective was to protect an American air base there, but they would soon find themselves in fire fights with the enemy. â€Å"By 1966, more than 380,000 U. S. soldiers were stationed in Vietnam; by 1967, 485,000; and by 1968, 536,000. †(Henretta, 837) The request of more and more troops in Vietnam by General William Westmoreland, commander of the U. S. orces in Vietnam, was a fear that President Kennedy had right before he had died. His comparison of requesting more troops was compared to having another drink of alcohol. â€Å"The effect wears off then you have to take another. †(Henretta, 837) Other than mass amounts of troops being deployed in Vietnam, another type of escalation was in full swing. Operation rolling thunder was a bombing campaign against North Vietn am. The Hoi Chi Minth trail was an elaborate series of trails, bridges and shelters that stretched from North Vietnam, to Cambodia, all the way over to Laos in South Vietnam. This trail was a specific bombing target in operation rolling thunder. â€Å"800 tons a day for three and a half years. † (Henretta, 837) By 1968, a million tons had fallen on the North Vietnamese! Around twice that was dropped in the south trying to drive out the Vietcong fighters. Americans did not have a true sense of the enemy they were fighting. They thought that this incredible amount of firepower that was dropped on them would break there will. The American strategist also thought that a combination of severe bombing campaigns, mixed with the vast amount of U. S. troops on the ground would ultimately break the will of the Vietnamese and lead to surrender. This would prove to be the exact opposite at the war goes on. The Vietcong prove to be more resilient and adapt to American tactics. The Vietcong began moving their munitions underground and began constructing a network of tunnels. Operation rolling thunder herded the Vietcong’s will to fight as a result. The No rth Vietnamese proved that they were willing to loose everything to win this war. The Americans did not have the dame convictions in this particular conflict. This is a classic rule of warfare that the Americans arrogantly ignored because they thought they had significant fire power and numbers. This would take a toll on the average ‘grunt’ on day to day operations. The massive bombing campaigns took a horrific toll on the Vietnamese countryside. After on particular harsh and unusual engagement with the North Vietnamese a commanding officer was quoted as saying â€Å"it became necessary to destroy the town in order to save it. ’(Henretta, 837) This was the logic at the time for fighting guerilla warfare. This was not a conscript ‘grunt’s’ opinion, this was the report of a commanding officer. The bombing campaigns were thought to do more than just remove strategic targets. They were also used to reduce resources to the Vietcong, as well as reduce the amount of available jungle for them to hide in. Chemicals were also used to destroy vegetation. One Chemical known as ‘Agent Orange’ was released to kill vegetation. This chemical was later found to be highly toxic to not just plant life, but to humans as well. Many Vietnam veterans have had serious complications as a result of contact with ‘Agent Orange’. American policy makers and strategist, as well as Johnson’s advisors were left scratching their heads as the North Vietnamese proved them a worthy adversary. We could just not find a way to win the war. Or could we not find an easy way to win the war? Some argued that a reform in Saigon was necessary to turn the tide of the war. Others argued that America had not fully committed to winning this war with a full scale invasion of North Korea, and possibly a war with China. In my humble opinion, that is exactly what we needed to do if we were over there fighting and dying in the first place. Otherwise just pack the boys up and send them home. Johnson was ultimately hoping that we would win the war of attrition and hope that American firepower would be the ultimate deciding factor. Johnson was very confident in the beginning years of the Vietnam War. Steady consensus polls showed full American support of the Cold War and the escalation of Vietnam in 1965, and in 1966. However, these numbers began to shift, as the war raged on. American had become weary of seeing nightly news broadcast of American soldiers being killed and seriously wounded. Journalists began to write about a â€Å"credibility gap† and were accusing the Johnson Administration of shielding a lot of the truths of the war. The Johnson administration also began to take a lot of heat from the sheer cost of the war by American taxpayers. â€Å"The Vietnam war cost the taxpayers $27 billion dollars in 1967, pushing the national deficit from $9. 8 billion to $23 billion. †(Henretta, 839) This access of military spending pushed inflation upward. This would end up plaguing the U. S. economy well throughout the seventies. Out of this economic frustration antiwar demonstrations were on the up rise. At the core of the anti-war voice was a long standing pacifist group known as SANE. SANE, was one of the major protestors of nuclear testing done in the atmosphere in the 1950’s. They gained momentum and were joined by many sets of people. Student groups, clergy, and civil rights activist had all joined the anti-war movement. The movement spread like wildfire and they had grown by enough numbers to put on mass anti-war protest bringing out as many as 30,000 protestors at a time. â€Å"Although they were a diverse lot, participants in these rallies shared skepticism about U. S. policy in Vietnam. They charged variously that intervention was antithetical to American ideals; that an independent, anti-communist South Vietnam was unattainable; and that no American objective justified the suffering that was being inflicted on the Vietnamese people. †(Henretta, 839) The war raged on and so did the protest. President Johnson through a dice and gambled that the Vietnam War would be a relatively quick victory by the second escalation. There was no such victory to be had been won. Ultimately the unrest of the American people forced the U. S. to withdraw its troops from Vietnam. How to cite The Vietnam War, Papers

Diversity Resistance in Organizations

Question: Discuss about the Diversity Resistance in Organizations. Answer: Introduction: The underlining term workplace diversity implies the variety of differences among the people associated with the business organization. Within the entire process of business people belonging to different cultural attitude are intimately associated for providing effective service. This particular study has focused to discuss on how the diversity management has a major impact in building organizational reputation and recognition. The primary purpose of workplace diversity is to bring together the people of various ethnic backgrounds, religions and age groups. At the very initial stage most of the business organizations belonging to Australia intended to hire employees from the regional market. Currently the scenario has been changed. As per the current scenario it has been observed that business experts are willing to appoint employees as per their level of competency rather than their cultural and ethnic backgrounds. However, this particular study has focused to provide an in-depth overview on how business organizations after implementing diversity management at the workplace have reached the peak of success. Why has diversity given so much attention lately? Barak (2016) opined that most of the business organizations of Australia intended to follow a proper hierarchical structure in order to recruit an individual employees for a better position. The persons who had been recruited for the higher position should have the experience of several years. Otherwise, the employees are not allowed to hold the position of senior employees. However, as per the current business trend skills and competencies get enough values rather than seniority. Employees despite belonging to young age group can hold the position of a senior manager due to in-depth academic background as well as sufficient experience (Ciocirlan and Pettersson 2012). After the implementation of diversity management at the workplace people of different age group are getting opportunities for being associated within the business organization. The level of skill and competency has become the matter of major concern for business experts rather than their seniority level. On the other hand, Garnero, Kampelmann and Rycx (2014) stated that business organizations initially have spread their wings in the regional market. Therefore, diversity management was not necessary to be implemented at this specific time. The human resource managers intended to recruit those employees who belong to regional places. After the business expansion the organizational experts had to change their internal strategies and policies for gaining international fame and recognition. For an example, Woolworth has started their journey in the market of Australia. At that particular time human resource managers of Woolworths had only recruited regional employees. As per the current business scenario, Woolworths has already expanded their entire process of business by launching their products and services in multinational countries. While prevailing their business beyond going the regional market, Woolworths had to recruit people of different cultural attitudes and religious backgroun ds (Harvey and Allard 2015). In order to run a business process skill and competency is highly important for surviving at the workplace. Therefore, the human resource managers have focused to prioritise on the skills and efficiency of the employees rather than their cultural attitudes. Hendricks and Cope (2013) stated that in order to make an effective business promotion about products and services most of the business organizations should stay away from any kind of products as well as services. Target customers can be considered as one of the most effective factors due to which organization can achieve the peak of success. Customers are from different cultural backgrounds (Hughes and Stephens 2012). Therefore, customers tend to show their interest in purchasing products and services only when the organization would be able to service diversified products. Therefore, employees at the workplace need to maintain diversity based on which the organization can produce diversified products and services. For an example, The Iconic is one of the most recognizable retail organizations especially famous fashionable clothes. The product designers are very much skilful to design diversified products that can be accepted by the customers of various cultural and psychological ba ckgrounds (Klarsfeld et al. 2014). Therefore, workplace diversity is one of the most effective reasons due to which The Iconic is flexible to provide different kinds of fashionable clothes to the customers from multinational countries. Legas and Sims (2012) stated that workplace diversity is not possessed with some of its major drawbacks as well. The employees while interacting with the people of different cultural attitudes and backgrounds face numerous obstacles such as communication barrier, psychological barrier, and cultural as well as religious barrier and so on. Language is one of the most significant issue due to which employees fail to make a proper interaction with each other. Due to the linguistic barrier employee especially in the customer service department fails to exchange necessary information. Ultimately, the existing staffs fail to maintain a balance between product supply and demand (Munjuri and Maina 2013). However, language barrier is very much important in deciding the level of performance of the employees. On the other hand, psychological barrier is another major factor that hinders a business organization to maintain their service effectively. Due to the psychological barriers business manag ers are unable to make appropriate business strategy by maintaining participative leadership style at the workplace. As a result, the business experts have to face innumerable barriers to draw the attention of customers (Okoro and Washington 2012). Therefore, psychological barriers can play a significant role for maintaining the entire business process. From those specific perspectives, diversity in workplace becomes a major hindrance for running the business in international market. Podsiadlowski et al. (2013) has firmly opposed the point of view of previous scholars. As per the opinion of this specific author it has been observed that the mission of implementing diversity management at the workplace is vast and wide. Implementation of diversity at the workplace is the only way with the help of which the business experts can make market strategy and policy in a collective way. On the other hand, human resource managers become flexible to focus on skill and competency level of the employee rather than showing their attitudes towards religious as well as cultural biasness. What are the workforce diversity challenges and opportunities confronting new managers in the 21st century? In order to expand the entire business in the international market the business managers have to face innumerable challenges for being accustomed with the diversity cultures at the workplace. The challenges are as follows: Effective communication is highly important for providing effective service to the customers. Due to the lack of communication the customers have to wait for a long time for receiving a proper service. Therefore, communication is highly important for maintaining a business process systematically. It has been observed that business experts while dealing with the persons of several backgrounds and attitudes have to face communication problem (Rice 2015). As a result, the managers fail to share appropriate business strategy and policy at the workplace. Employees belong to different geographical backgrounds. Therefore, linguistic barrier is the matter of major obstacle to communicate with the employees properly. In order to overcome this kind of major communication issues, the managers of popular business organizations have decided to provide an effective training and development session to enhance the skill of communication. Training and development session helps the employees to overco me their linguistic barriers. Challenges in psychology and cultures: Psychological and cultural barrier has become one of the major factors due to which business managers face obstacle to run business organizations in the international market. For an example, The Iconic being an organization of fashionable clothes fails to draw the attention of those people who belong to orthodox backgrounds. On the other hand, while making the business decision regarding the product designs and market strategy the managers have collected different opinions from various employees (Saxena 2014). As a result, the business managers had to face major problems to take a proper decision. In order to overcome this kind of situation, company likes to apply some major strategies and policies to satisfy needs and demands of every single employee equally. The business managers generally decide to arrange a group discussion session where employees from several departments have to be present there. Every individual employee has the equal right to share opinion (Thomas 2012). Therefore, the session of group discussion employees of various departments get priority and response in sharing their views regarding business goal. Therefore, business managers get the scope to make a collective decision regarding business strategy and policy. In this kind of situation, employees do not show their level of dissatisfaction as they have been treated with equal respect and dignity. Religious barriers are the most effective problem due to which business mnagers fail to maintain an effective international organizational balance. With the dynamic progress of civilization, the customers expectations and behaviours are also changing with time. Therefore, business organizations have to render unique features in their products and services. It has been observed that due to the religious barriers organizations fail to render variety in their products and services. Wood et al. (2016) opined that employees belong to different religious backgrounds believe on different psychologies and attitudes. Therefore, employees may become a major hindrance in rendering the diversity in products. In order to overcome this kind of religious issues, the business organizations have decided to implement some major strategies and policies (Thomas 2012). The business experts have decided to provide an effective training to the employees for enhancing their knowledge and skills. With the help of this particular training and development process, the employees tend to evaluate their minds. As a result, organizations automatically, focus to render diversified products and service to grab the attention of customers from various geographical corners. Without focusing on product diversity, the business organizations can never expand their entire business process in the global market Challenges in business decision making: Business decision making is highly important to implement appropriate strategy and policy. In order to reach the peak of business success most of the business managers intend to implement an effective market strategy so that products can be promoted in various geographical areas. The role of employees in making an effective and appropriate decision for a business organization is highly important. In most of the cases, it has been observed that business experts fail to take proper decision due to the psychological barriers happening among the employees (Thomas 2012). People at the workplace like to express their various opinions before implementing a particular market strategy. In this kind of situation, business managers have to face difficulties to take an appropriate decision. In order to overcome this kind of challenges, most of the business managers like to follow autocratic form of leadership style. In this particular form of leadership style, employees get least opportunities t o share their own opinion. As a result, business managers like to impose their own decision on the employees. As a result, people do not have the scope to express their point of views. However, Barak (2016) stated that autocratic form of leadership style de-motivates the employees towards providing good services for meeting the business target. Therefore, most of the prestigious business organizations intend to follow democratic leadership style to encourage the employees towards reaching business goal. Conclusion: The entire study has focused to deal on how diversity within the organization is highly important for rendering the success of an organization in the domain of global market. At the very initial stage, business organization did not focus on maintaining workplace diversity. Belong to the 21st century most of the business organizations have preferred to implement diversity management at their workplace for being flexible in international market. Therefore, in the late centuries business organizations such as Woolworths, the Iconic have decided to follow workplace diversity to draw the attention of global customers. The study has critically analysed whether diversity at workplace is beneficial for the business organization or not. Various challenges faced by the new managers in implementing workforce diversity have been discussed in this particular study. Reference List: Barak, M.E.M., 2016.Managing diversity: Toward a globally inclusive workplace. Sage Publications. Ciocirlan, C. and Pettersson, C., 2012. Does workforce diversity matter in the fight against climate change? An analysis of Fortune 500 companies.Corporate Social Responsibility and Environmental Management,19(1), pp.47-62. Garnero, A., Kampelmann, S. and Rycx, F., 2014. The heterogeneous effects of workforce diversity on productivity, wages, and profits.Industrial Relations: A Journal of Economy and Society,53(3), pp.430-477. Harvey, C.P. and Allard, M., 2015.Understanding and managing diversity. Pearson. Hendricks, J.M. and Cope, V.C., 2013. Generational diversity: what nurse managers need to know.Journal of advanced nursing,69(3), pp.717-725. Hughes, C. and Stephens, D., 2012. Leveraging workforce diversity through a career development paradigm shift.Handbook of research on workforce diversity in a global society: Technologies and concepts, pp.262-272. Klarsfeld, A., Booysen, L.A., Ng, E., Roper, I. and Tatli, A. eds., 2014.9.78 E+ 12: Country Perspectives on Diversity and Equal Treatment. Edward Elgar Publishing. Legas, M. and Sims, C.H., 2012. Leveraging generational diversity in todays workplace.Online Journal for Workforce Education and Development,5(3), p.1. Munjuri, M.G. and Maina, R.M., 2013. Workforce Diversity Management and Employee Performance in the banking sector in Kenya.DBA Africa Management Review,3(1). Okoro, E.A. and Washington, M.C., 2012. Workforce diversity and organizational communication: Analysis of human capital performance and productivity.Journal of Diversity Management (Online),7(1), p.57. Podsiadlowski, A., Grschke, D., Kogler, M., Springer, C. and Van Der Zee, K., 2013. Managing a culturally diverse workforce: Diversity perspectives in organizations.International Journal of Intercultural Relations,37(2), pp.159-175. Rice, M.F., 2015.Diversity and public administration. ME Sharpe. Saxena, A., 2014. Workforce diversity: a key to improve productivity.Procedia Economics and Finance,11, pp.76-85. Thomas, K.M. ed., 2012.Diversity resistance in organizations. Psychology Press. Trenerry, B., Franklin, H. and Paradies, Y., 2012. Preventing race-based discrimination and supporting cultural diversity in the workplace: an evidence review: full report. Wood, J.M., Zeffane, R.M., Fromholtz, M., Wiesner, R., Morrison, R., Factor, A., McKeown, T., Schermerhorn, J.R., Hunt, J.G. and Osborn, R.N., 2016.Organisational behaviour: Core concepts and applications. John Wiley Sons Australia, Ltd.

Primary and Support Activities of Value Chain free essay sample

Raytheon Company has created new software that improves the logistics system of the company by providing constant tracking data of all products in the inventory, which has saved the company nearly $9M. MTrak is a web-based system that includes the Microsoft . Net technology, which is used to capture bar-code scans and combines it with information from the mainframe computer to provide tracking of all inventories anywhere within the company. A lot of stuff got lost, company had to have multiple people sitting by the phones to take the calls asking where the parts were. The creation of MTrak brings Raytheon online with its competitors in the industry. While the system does not create a competitive advantage to Raytheon, it does negate the disadvantage of a bad supply control system. The creation of MTrak contributes to the entire value chain by tracking the products from the beginning of the chain at Inbound Logistics, through Operations, Outbound Logistics, Marketing and Sales, through to the end of the chain at Service. We will write a custom essay sample on Primary and Support Activities of Value Chain or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The Technology and Competitive Forces The major problem at Raytheon was lost inventory. The suppliers were not to blame because they were able to account for every piece of property they supplied through their fully automated supply chains. From the beginning, the goal was to create a system that would track all materials used by Raytheon such as resistors, capacitors and customized computer chips from the time of order through receiving, testing, placement in inventory and final use in a military field radio, handheld motion sensor or some other Raytheon product . Whenever Raytheon received calls for a missing delivery personnel would physically search the area to see if the product was still there. In some cases, if the item couldn’t be found the employees would reorder the item so production schedules could be met.. The MTrak is a web-based system that includes such technologies as Microsoft . Net and Biz Talk 2004. These technologies, which captures bar-code scans and other information on incoming deliveries, combine it with other information from the mainframe system such as purchase-order inventory, anufacture-scheduling data. The integration of the MTrak and mainframe computers is possible through the use of software provided by WRQ Verastream. This system lets employees track the status and movement of parts throughout the entire company from a web browser. Competitive Forces-Value Chain The Value Chain consists of five Primary Value Chain Activities and four generic categories of support activities. The primary value chain activ ities are supported by the generic categories. In this case the primary chain activities that are being supported are the Inbound Logistics, Operations, Outbound Logistics, and Marketing and Sales. The supporting category is Technology Development. Raytheon created this technology in-house with publicly available software. Even though integrating the software into the daily business of the company did not create a competitive advantage, Raytheon was able to save money in many areas including lost inventory, delayed production, and outsourcing software development. Supporting the Company The MTrak tracking system provides a state-of-the-art software package that provides Raytheon with the means to track its entire inventory throughout the entire company from a web browser. This technology improves the value chain of the entire company. Though the use of this technology, Raytheon will be on a level playing field with other companies in the industry. It may even spur Raytheon an advantage in the future as the company continues to grow.

Zombie Like Hunger Professor Ramos Blog

Zombie Like Hunger Crawling out  of hidden crevices, craving, starving, begging for something to be in their stomachs, arms stretched out, reaching for you, clawing  at  you for something to eat you’ve seen this every day when you  see the skinny homeless man on the corner asking for help.   What can we do as a nation, as an individual to solve National Hunger or even World Hunger?   Being an American myself who grew up in a middle-class home and never wanted when it comes to food, I find it hard to imagine people starving just hoping for food.  Ã‚  Its  even harder to believe that it happens right in our own backyard, yes, we have people starving on the streets here too.   It’s a place in Los Angeles called Skid Row.  Ã‚   â€Å"Skid rows are thus notorious as spaces of rough sleeping, with temporary pavement encampments or ‘cardboard cities’ offering refuge for those who congregate in these areas† (Hubbard).   Skid Row in LA is a community of homeless people, many of which are malnourished and not getting proper care.   Even in my home town, every day driving home, I see a man, whose skin has seen too much sun, scars that his long stringy beard can’t cover, and bones that skin hangs loosely on, seeing almost every detail of every bone that his loose clothes fail to cover.   To the best of my knowledge this man served our country at one point in his life, and I can only assume this man suffered some trauma where living a â€Å"normal† life is now impossible.   I bought him a meal from McDonalds one day and this made me wonder something powerful, I may have fed him today, but how can we as a community, we as a nation, we as a race fix this so this man doesnâ₠¬â„¢t go hungry some nights, when a stranger decides not to offer a little help?   What if we double the food we currently have?   Now, you are  skeptical, I don’t blame you, and I can assume your train of thought right now is thinking how in the world are we going to double the food we have available when we already have so many starving people?   We may have a way to do this, it’s a project called the Veg Series.   Veggie is the module on the International Space Station where they are going crops in  space.   They have  Ã¢â‚¬Å"The  Pick-and-Eat Salad-Crop Productivity, Nutritional Value, and Acceptability to Supplement the ISS Food System (Veg-04) investigation is the next step in efforts to address the need for a continuous fresh-food production system in space† (Massa).  Ã‚  Veg-04 is the latest of the series on the Veggie Module,  where they have started growing many different crops.   If we  can implement these modules on much grander scales on Earth in places that crops are hard to plant due to overheated areas or underheated areas, and/or soil conditions we could start a steady supply of food for all nations. What  separates  Veggie facilities from a large green house?   Well, Veggie crops are grown with Red and Blue LED Lights, they also add Green LED Lights purely for color to appease our visual appetites instead of these plants  getting direct sunlight.   These plants are grown with a prepackaged pillow that contains all the necessary  nutrients instead of soil.   Also, because they are in a controlled environment they are  actually cleaner  and contain less bacteria and other harmful substances that we have grown used to with our  soil-based  crops.   â€Å"Through numerous tests the Veg-03 science team has refined the pillow concept and selected growth media and fertilizers, plant species, materials, and protocols for using the pillow concept in Veggie to grow healthy plants that can provide crew with food and recreation† (Massa). NASA is currently working with Dubai testing a version of Veggie.   â€Å"I’m working with countries like Dubai, who have the problem of importing almost 95% of all their fruits and vegetables because of the horrendous heat and the environment for growing things there† (Zamprelli).   They are doing this to help Dubai grow their own plant-based food, and in doing so furthering their development of Veggie.   The general blueprint for Earth Veggie is  a  giant warehouse like module that contains  massive crop  selections.   They  will  use the sun to power the facilities and  to  grow these crops to feed the population. You may be thinking now that  there is one major flaw in my logic, money.   Where is all this money supposed to come from?   You are correct, money is an issue here, these giant warehouse modules are not going to be cheap to make, however once they are built they  facilities  become almost self-reliant.   Assuming the government cares enough about its people to want to keep  them  all fed and happy most likely they will invest in the Veggie facilities to save lives. Other critics of my logic is instead of doubling our resources, why don’t we just kill half the population randomly.   Well, that would help to solve world hunger, but not only is genocide  generally frowned  upon, but with this new possibility for food, it would be the humane way to go, saving lives and filling bellies.   Also, with the universe always expanding we can always continue to colonize other plants to avoid over population when we develop the means to do this. We could keep sending money to charities for starving children in foreign countries, there is nothing wrong with feeding a child one time.   However, if we could permanently fill that child’s belly we as a race need to do whatever we can.   So, what can we as a nation, as an individual do to help this succeed?   When it comes  time  to vote,  we  can keep this in mind, and vote for those in office who want to promote NASA funding, and spread awareness of this as a solid solution to World Hunger.   Once the Veggie facilities start being implemented in all countries all humans will be fed and we can start focusing on  exciting  things, like space travel. Work Cited Hubbard, Phil. skid row.  The Dictionary of Human Geography, Derek Gregory, Blackwell Publishers, 5th edition, 2009.  Credo Reference, https://search.credoreference.com/content/entry/bkhumgeo/skid_row/0?institutionId=5312. Accessed 06 Aug. 2018. The article â€Å"skid row† is a scholarly source that helps define the North American term for Skid Row.   I’m using it to help me define skid row and to help people see that we have hunger in America too.   Its reliable because Phil Hubbard is a professor of Urban Social Geography. Massa,  Gioia  D, Et Al., VEG-01: Veggie hardware validation testing on the International Space Station. Open Agriculture. 2017 January 1; 2(1): 33-41. DOI: 10.1515/opag-2017-0003. Accessed 24 Jul. 2018 I’m using this article to show that you can create crops anywhere  if  you have energy. Massa explains how the Veg-01 works and what it is being used for.   It’s a credible and scholarly source  because  Massa has a PH. D in food production  and  also  is a NASA  Scientist. Beasley, David, Et  Al.,  Ã¢â‚¬Å"World Hunger Again  On  The Rise, Driven By Conflict And Climate Change, New UN Report Says†Ã‚  https://www.wfp.org/news/news-release/world-hunger-again-rise-driven-conflict-and-climate-change-new-un-report-says  Accessed Aug-5-2018 This article shows the statistics of World Hunger.   Specifically, this article shows which countries are having the biggest problems with hunger.   I’m using it to show a number figure of all the people in the world who are starving.   It’s a reliable source because its collaboration of people trying to stop  world  hunger, and it cites the United Nations news release. Takruri, Dena, â€Å"Inside Skid Row: Americas Homelessness Capital | Direct From With Dena  Takruri  Ã‚  AJ+†,  https://www.youtube.com/watch?v=vTJWdtX90C0  Accessed Aug-5-2018 Its  an interview with one of the residents of Skid Row, this  youtube  video shows the conditions of Skid Row, LA.   I’m using this video to show the conditions of skid row and hunger in America.   It’s a reliable source  due to the fact that  it comes directly from skid row. Space Station Live: Everything Is Coming Up Veggie  Ã‚  Youtube  uploaded by NASA John,13 Apr 2016,  https://www.youtube.com/watch?v=9JDAZBoLJUc  Accessed Jul-24-2018 This interview with Massa tells directly what they are doing with the VEG-01.   I’m using this to help share how it keeps plants alive without the use of natural sunlight and soil.   Its  scholarly because Massa herself describes the VEG-01. Ridley-Thomas, Mark â€Å"Housing the Homeless on Skid Row†Ã‚  http://ridley-thomas.lacounty.gov/index.php/housing-the-homeless-on-skid-row/  Accessed Aug-8-2018 Massa,  Gioia, Et Al., â€Å"Pick-and-eat Salad-crop Productivity, Nutritional Value, and Acceptability to Supplement the ISS Food System†Ã‚  Ã‚  https://www.nasa.gov/mission_pages/station/research/experiments/explorer/Investigation.html?#id=7442  Accessed Aug-6-2018 I’m using this article to show where we are with â€Å"Veggie†.   Its scholarly because its provided by  Gioia  Massa a NASA scientist who has a PH. D in Food  Production.   The article â€Å"Pick-and-eat Salad-crop Productivity, Nutritional Value, and Acceptability to Supplement the ISS Food System† explains what Veg-04 is and what its purpose is. â€Å"Homeless Zombie† posted by Ted Hammond on  ARTWanted  https://www.pinterest.com/pin/657877458039267622/ Zamprelli, Paul  Ã¢â‚¬Å"Space  Station Live: Lettuce Look at Veggie† uploaded by NASA Johnson Accessed 08-06-2018 The  youtube  video â€Å"Space Station Live: Lettuce Look at Veggie† is scholarly because its interviewing Paul  Zamprelli  who works for  Obitec  the company that developed Veggie.   He explains some things already known about Veggie, but he also shares about their plans for Veggie involving Earth.   I’m using this to provide proof that its already starting in places that is known for not being able to grow their own crops due to heat conditions. â€Å"Veggie Images†Ã‚   uploaded by NASA,  https://www.nasa.gov/image-feature/flowers-harvested-on-the-ground-and-in-space-for-deep-space-food-crop-research  accessed Aug-8-2018 Radioactive Zombie Uploaded by Fandom, http://nazizombiesplus.wikia.com/wiki/Radioactive_Zombie

Performance Evaluations Essay Example | Topics and Well Written Essays - 1250 words

Performance Evaluations - Essay Example Plant engineer performance can be evaluated on criteria such as central services’ design, provision of technical support to maintain plant equipment and facilities, energy saving and production cost of energy (Amrine, Ritchey, Moodie, and Kmec, 2009). Similarly, specific criteria should be used to evaluate the performance of the employees according to their position. Secondly, the evaluation of an individual’s behavior is very essential for the provision of good outcomes, employees must have good behavior with each other; because collective decision making, work sharing, putting ideas for improvement and taking extra responsibility; helps in making organization productive. Therefore, behaviors of one employee with work and with peers should be evaluated. Behavioral evaluation is necessary for plant engineer because he has to work with others and if employees are not happy with him; they will not help him in making satisfactory outcomes. Third, the performance evaluation should be based on individual traits. This is the weakest criteria, but still it is widely used by organizations. Traits such as looking busy, having a good attitude, coming on work on time or before time and having experience are not significantly connected with optimistic results of tasks or may be connected (Robbins, Judge and Sanghi, 2009). Fourth, professional development is also an important criterion for performance evaluation. In such criteria, it is considered that either employee is continuing with his/her education, struggling for excellence, searching for opportunities in order to learn and grow and other such factors. By using different criteria, company and managers identify the strengths and weaknesses of employees. Performance evaluation criterion is an effective tool for the betterment of the organization. From analyzing the outcomes of the tasks, organization can assess

What is the best nursing intervention to prevent urinary tract Essay

What is the best nursing intervention to prevent urinary tract infection for older people - Essay Example Very few of the nursing interventions have been studied and proven to be safe and useful to the patient. The paper will mainly focus on the best available evidencesupporting nursing interventions for the elderly that suffer from incontinence and urinary tract infections. Older people will be the main focus because of their vulnerability to infections (Miller, 2008) and the care provided to them. Definitions of both terms will be provided and an analysis of each will be done based on the best nursing interventions. Protocols and policies concerning the prevention of urinary tract infections will be looked at and of major interests will be examined from a range of countries. The subject is very important because it provides an insight into the issues concerning incontinence and urinary tract infection in the elderly adults. It also provides information of the best nursing practices that can be used in the prevention of these conditions and provide a future plan for the control and prevention of such conditions. Incontinence is a very common, disturbing and potentially immobilizing condition in the elderly or geriatric population. Incontinence can be defined as an involuntary loss of the stool or urine in adequate quantities or frequency to comprise a health and/or a social problem (Vieria, 2009). The condition is heterogeneous and it varies in severity from the occasional incidents of trickling small quantities of urine to a continuous urinary incontinence and associated fecal incontinence (Abrass, Kane and Ouslander, 2004). Older persons with incontinence are not usually severely bedridden, demented or in the nursing homes. Many of these patients in the community and in the institutions are ambulatory and their mental functioning is good (Abrass, Kane and Ouslander, 2004). Incontinence has impact on the self-esteem of the patient and there is the usual fear of soiling or wetting during a sexual intercourse and this has a

Antisocial Behaviors Essay Example | Topics and Well Written Essays - 500 words

Antisocial Behaviors - Essay Example or factors, which have contributed to the person’s behaviors; (4) the interventions that have been tried with the person in attempts to improve behaviors, including personal opinions on any programs, services the person should be involved with; (5) a comparison of similarities between the person profiled and a person with antisocial behaviors; and (6) comments on similarities or differences between the person profiled and what have been learned about people with antisocial behaviors. Individuals exposed to diverse scenarios and experiences react differently. There are a multitude of factors that influence the behavior of people. The ability to interact and socialize is dependent on external and internal factors which directly affect the individual’s perception and response to various stimuli. Some experiences could be both traumatic and ingrained in an individual’s memory causing an emergence of antisocial behaviors. This essay is hereby written to present a profile of an individual exhibiting antisocial and delinquent behavior. The personal, family and community background of the individual would be delved into with the aim of evaluating the factors which influenced the predilection for behaving antisocially. The individual’s name is Jorge, 46 years of age, married, currently experiencing chronic illness of various kinds. He admitted exhibiting antisocial behavior ever since he was on his elementary level in school. He fears rejection, is basically shy, does not enjoy interacting with others for social reasons except for compliance to academic requirements, he admits to having mood swings, and imposed a self recluse in his own room. He was an adopted child and the only child in the family. His mother, a university professor, works full time to support the family. His father does not have a regular job also due to chronic illness and an amputated leg. The family changed residences five times since his birth and likewise, transferred in five different

Human Resource Management Business Impact

Human Resource Management Business Impact People are commonly considered to be an organisations greatest asset simply because they have the power as individuals to decide. They decide on strategic, tactical and operational levels to obtain the most favourable results from whatever situation arises. It is therefore extremely important to train and develop the human resources as it determines a companys success. Over the past few decades, a growing awareness of the importance of the HRM process has lead to continual improvements in the field; thus causing more competence. In order to create efficiency in communication, training and general management, individuals were put in charge especially to manage the people within an organisation. Slowly this progressed and became a common department in any common organisation. Human resource management is a particularly important area which transcends all primary activities. It is concerned with those activities involved in recruiting, managing, training, developing and rewarding people within the organisation The firm will need an overall workforce (or human resource) strategy. In achieving this, HRM will need to work closely with other departments to ensure the firm is employing people with the right skills and right time The HR plan contains an assessment of: National and local changes in the population, analysed by numbers, ages, skills and location An analysis of the current internal labour supply Consideration of any proposed developments in the companys organisation, location and structure. This information can be used to evaluate the likely effects on labour turnover, the implications for recruitment, expected training requirements for existing and anticipated new staff, and the probable effects on morale and labour relations. The main difficulty of creating a workforce plan is the problem of estimating future demand for labour. Demand will change as a result of the firm changing strategy (e.g. new markets opening up, existing market demand falling), and competitor actions. Organisation adopt a core and periphery approach, employing a core of highly trained full-time staff, which is supplemented by a periphery of part time- often temporary- employees. This can bring greater staffing flexibility, although part-time staff may lack motivation, and communication becomes more difficult. HRM emphasises that people are an organization key source due to their flexibility, creativity and commitment. Communication takes place within the organization and with outside agencies internal communication may flow down the hierarchy through the chain of command or may be more informal. External communication tends to be more formal, taking place with the major external stakeholders: suppliers, customer, shareholders, the government and public. 1.2: Assess the purpose of strategic human resource management activities in an organization. Internal scanning explains and documents the makeup of the current supply of the workforce and the human resources activities within an organization. It looks at the composition and diversity of the workforce, including what type of skills and jobs are available, what type of human resources policies and programs already exist, what is the culture and structure of the organization, and what are the trends in regard to tenure, turnover rates, etc. In addition, consideration should be given to such issues as prevailing personnel problems, managerial attitudes concerning human resources, etc. External scanning tracks trends and developments in the external environment, documenting their implications for human resources management and ensuring they receive attention in the human resources planning process. This assessment looks at: 1) how the economy is performing both locally and nationally, 2) how technology is expected to change and how these changes will influence the type and number of jobs available and the skills and education needed for these jobs, 3) what the current and future labor market looks like regarding the availability of certain occupations and the people necessary to fill them, 4) the requirements are for current or future government regulations, such as affirmative action and equal employment opportunity or regulations which influence agency-specific programs, 5) identifying the sources for competition in terms of attracting people (salary, benefit packages, etc.), and 6) what overall trends can be identified that could influence an organization such a s the movement towards decentralization and restructuring. Vetter (1967) defined human resource planning as the process by which management determines how the organization should move from its current manpower position to its desired position. Through planning, management strives to have the right number and the right kinds of people, at the right places, at the right time, doing things which result in both the organization and the individual receiving maximum long-run benefits. Contemporary human resource planning occurs within the broad context of organizational and strategic business planning. It involves forecasting the organizations future human resource needs and planning for how those needs will be met. It includes establishing objectives and then developing and implementing programs (staffing, appraising, compensating, and training) to ensure that people are available with the appropriate characteristics and skills when and where the organization needs them. It may also involve developing and implementing programs to improve employee performance or to increase employee satisfaction and involvement in order to boost organizational productivity, quality, or innovation (Mills, 1985b). Finally, human resource planning includes gathering data that can be used to evaluate the effectiveness of ongoing programs and inform planners when revisions in their forecasts and programs are needed. 1.3: Evaluate the contribution of strategic human resource management to the achievement of an organisations objectives Functions of Human Resources Management (HRM) include various key activities important in business development. The HR Manager decides for the organizations staffing needs and then decides whether to employ by independent contractors or hire employee to fill these needs, recruiting and training the best employees. The HR Manager must ensure that these employees are high performers and deal with performance issues; and ensure that the personnel and management practices used conforms with various regulations Activities in HRM also include managing employee benefits and compensation, employee records and personnel policies. An organization must ensure that employees are aware of personnel policies which conform to the current organization regulations. These policies are often in the employee manuals, which all employees have. There are seven (7) major HRM processes namely: HR strategy, Recruiting, Assignment, Development, Reward, Protection, and Personnel administration. HR strategy is the strategic approach that the HR manager will undertake. This strategy is composed of objectives, goals and processes on how to attain the organizations business objectives and goals. Task 2 To: Etcetera Ltd From: Human resource manager Subject: Human Resources planning 2.1 Analyse the business factors that underpin human resource planning in an organisation. Human resource planning is a systematic series of continuing processes that determines the needs of an organisation and plans them accordingly (Bennison and Casson 1984). The reason human resources are planned is due to the simple need that any successful business needs efficiency. Planning eliminates wasted time and resources by preparation. The planning process is divided into several stages; analysing current human resource utilisation, forecasting the demand for human resources, forecasting the supply of human resources, developing action plans and evaluating the planning process. Human Resource Management (HRM) is a strategic and coherent approach in managing an organizations most valued assets- the individuals who are working collectively and contributes in achieving success of the objectives of the business. The terms human resource management (HRM) and human resources (HR) have largely replaced the term Personnel Management as a description of the processes involved in managing people in organizations 2.2 Assess the human resource requirements in a given situation With the development of technology, data collection and presentation has become much more sophisticated and efficient. HR planners can use computer technology very effectively to analyse data about the workforce. Information such as experience, length of service, qualifications, potential attendance, productivity, efficiency and personal data have all contributed to the accurate analysis of human resource utilisation. With the use of this data it has become easy and efficient to forecast possible situations regarding specifically HR demand. As mentioned above, the analysed data can be efficiently used to determine current conditions. It is especially important to forecast demand in time in a dynamic working environment where new products and premises are bound to increase. Corporate plans are also projected into a shared system to co-ordinate forecasting. In some cases however there is no data that can project future requirements; these cases would be linked to general economic, political or industrial change. Existing human resources classified by organisational demography, more specifically by department, occupation, skill level, status, age, gender, aptitudes, experience, qualifications, job history, length of service and ethnicity. Specific work history; absenteeism, commitment, involvement and disciplinary matters. Ensuring all personnel/HRM activities help to add value by helping the organisation achieve its objective. Motivating workers to achieve improved performance Action plans are based on a comparison of forecast demand and forecast supply. This will determine deficits and surpluses. Evaluation is suggested to be based on outputs rather than inputs. Storey and Sissons have a variety of techniques such as simple audits to conclude if targets have been met, how many vacancies have been filled and how much costs were reduced. 2.3 Develop a human resource plan for an organisation To develop a human resource plan for Electra this below Five Major Stages in workforce planning link the strategic and human resources planning processes. Collecting Data and Information Forecasting Reconciliation Action Plans Feedback and Evaluation 1. Collecting Data and Information: At the strategic planning level, an organization conducts a number of assessments to determine its long-range objectives, usually for up to five years. At this level, the human resources planning process assesses such issues as strategic plan implications, factors external to an organization, and the internal supply of employees over the long-run. Human resources collect data and information to analyze and assess these types of issues, but do not make detailed projections. Data and information are collected through scanning internal and external environments of an organization. 2. Forecasting: The strategic plan eventually breaks down into operational plans that state specific objectives an organization wants to accomplish over the next six months to one year. This will, in turn, forecast future human resource needs. The focus for human resources becomes forecasting the number of currently available employees with the appropriate skills and educational levels to meet operational plans. This information is drawn from internal and external assessments, but is further refined for these plans. The forecasting process highlights the supply and demand principle of the model. Strategic and operational plans determine the necessary human resource requirements (demand) needed, while the human resources planning process forecasts the availability (supply) of human resources. 3. Reconciliation: Reconciliation identifies those gaps that occur between supply and demand. This process focuses an organization on specific human resource issues that need to be addressed. This allows an organization to move forward with its operational plans. The process of reconciliation helps identify what the major gaps or sources of pain are in managing human resources. In addition, through reconciling an organization is able to develop a sense of urgency and build commitment to action regarding its sources of pain. 4. Action Plans: Action plans represent programs and policies needed to address the gaps identified in the reconciliation process. To be successful and ensure accountability, action plans must outline specific responsibilities, timelines, staff, and financial resources necessary to address those gaps. 5. Feedback and Evaluation: Feedback and evaluation are critical to the success and effectiveness of the workforce planning process. These two mechanisms are ways to retrieve information to evaluate and make adjustments to the process. Feedback: Feedback mechanisms should be designed to retrieve information so programs and policies can be evaluated to determine how well the process works. This provides input to update strategic or organizational plans. Inadequate feedback mechanisms or plans can cause small problems to grow into large problems that impede the overall process. Evaluation: In implementing evaluation mechanisms, it is important to first determine what is to be measured. Normally, human resources strategies are measured in terms of implementation or completion of actual programs. But to provide more meaningful information, measures have to be designed to determine the effect the action plans have had on the defined issues. Therefore, it is important to identify specific measures and target levels to be achieved and what the end results should be. 2.4 Critically evaluate how a human resource plan can contribute to meeting an organisations objectives. Human resource planning has traditionally been used by organizations to ensure that the right person is in the right job at the right time. Under past conditions of relative environmental certainty and stability, human resource planning focused on the short term and was dictated largely by line management concerns. Increasing environmental instability, demographic shifts, changes in technology, and heightened international competition are changing the need for and the nature of human resource planning in leading organizations. Planning is increasingly the product of the interaction between line management and planners. In addition, organizations are realizing that in order to adequately address human resource concerns, they must develop long-term as well as short term solutions. As human resource planners involve themselves in more programs to serve the needs of the business, and even influence the direction of the business, they face new and increased responsibilities and challenges 3.1 Explain the purpose of human resource management policies in organisations There are lot of purpose of human resource management policies was known to manage the employees within an organisation in many aspects; such as recruitment, selection, evaluation, motivation, general management and termination. One can argue that not much has changed and it is still the same as HRM, but from comparing the process over the past few decades, we can see that the process has actually evolved quite significantly. Human resource management, unlike personnel management, has become a process that is very closely linked with the other departments of an organisation. This helps the HRM department to foresee and prepare for possible circumstances; such as increased workloads and redundancies. Below is a table of perceived differences between Personnel Management and Human Resource Management (Beer and Spector, 1985): Strategic integration: HRM is integrated with the organisations strategic plans. High commitment: management of people ensures employees are genuinely pursuing the goals of the organisation. Flexibility: HRM policies are subject to change; meaning innovations and changes in the business fields will be anticipated by HRM and the policies thereby structured. High quality: the process of human resource management is done with high quality to ensure high quality results. This will eventually affect the quality of goods/services provided. 3.2 Analyse the impact of regulatory requirements on human resources policies in an organisation Human resources manager plays many varieties of roles in the organisations. Following are some of his/her role to carry out on daily basis. Guidance Role Directly involves with companys HR Policy making, and implementation those policies, Advisory role Offering specialist service to the employers and employees. Offering advice for line managers for changes in legislations, conducting appraisals, etc. For employees, advice about their rights, counselling, Etc. Service Role Carrying out various administrative tasks e.g. payroll, giving reference, and delivering of Human Resources Management Programs. (Recruitment, Selection, welfare so on) Control/auditing role Analysing personal indices. (Such as labour turn over, wage cost) monitoring performances carrying out bench marking Planning/organizing role Forecasting future man power needs, adopting new labour practices. Human resource planning: forecasting organisations future labour and skills requirements. Recruitment: Attracting more suitable applicant required by HR plan Selection: Selecting most suitable employees Retention: retaining staffs by promoting and motivating Exit Management: managing termination of the employment, retainment, dealing with grievance procedure. Task 3 To: Head of TESCO human resource department From: Independent human resource consultant Subject: Reviewing human resource department 4.1 Analyses the impact of an organisational structure on the management of human resource organization structure: The study of organizations includes a focus on optimizing organizational structure. According to management science, most human organizations fall roughly into four types: Pyramids or hierarchies Committees or juries Matrix organizations Ecologies An organizational structure is a mostly hierarchical concept of subordination of entities that collaborate and contribute to serve one common aim. Organizations are a number of clustered entities. The structure of an organization is usually set up in one of a variety of styles, dependent on their objectives and ambience. The structure of an organization will determine the modes in which it shall operate and will perform. Organizational structure allows the expressed allocation of responsibilities for different functions and processes to different entities. Ordinary description of such entities is as branch, site, department, work groups and single people. Contracting of individuals in an organizational structure normally is under timely limited work contracts or work orders or under timely unlimited employment contracts or program orders. (Robbins, S.F., Judge, T.A. (2007)) There are four formats of Tesco. They are Tesco, Tesco Extra, Tesco Metro and Tesco Express. Tesco Express is small in size and scale compare to other Tescos. So the decision making process is shorter and quicker which is important for an organisation of this nature. Tesco Express has a flat structure. There are four duty managers who get the ideas to how to handle the workload from the Site Manager. They run the shifts and they have team leaders working under them who take part in decision making to some extent. Stock controller and administrator also a major character in the organisation. They have to do specific task and also if they get time, they must help other colleagues work. On the last level of the organisation there are customer service assistants. They deal with the customers directly. They serve the customers on the tills and they do the shelf filling as well. They are the major part of our management team 4.2 Analyses the impact of organisational culture on the management of human resources Organizations are as individual as nations and societies. They have widely differing cultures, and these are reflected in their values, ideals and beliefs. The organizations culture is what gives meaning and purpose to the work lives of its members. An organization culture influences its strategy, its ways of doing business and they it responds to change. A strong culture will be beneficial if it focuses on need to change proactively. The culture of an organisation influence the way in which it operates, so it is necessary to understand the culture before deciding how people might contribute to the success or failure of the organisation. Put in simple terms, the culture of an organisation can be defined as: The Way We Do Things Here! Our organisation has a task culture. Task culture-It is very much a small team approach the network organisation small organisations co-operating together to deliver a project. The emphasis is on results and getting things done. Individuals empowered with discretion and control over their work is flexible and adaptable.'(Charles Handy, 1985). In our organisation, Tesco Express, we have team-based approach to perform any job. Team work plays the major role to achieve organizational objectives. The culture of our organization is working as a team, co-operating each other to achieve our goals and objectives. In the team all the staffs are empowered, so they feel motivated and important at work. All the staffs are empowered to make decisions to some extent and they are given responsibilities within the team. So the staffs feel valued and responsible for their jobs. In my work place has nearly 20 Staff. This staffs are from different ethical background and different countries, so various behaviours of team members mesh together in order to achieve objectives. We all work hard successfully in our team. Our manager guides us to do our work properly. 4.3 Examine how the effectiveness of human resources management is monitored in an organisation The Human resource department is the companys greatest asset; because without man power, everyday business functions could be completed. That is why it is important to maximize organizational effectiveness, human potential-individuals capabilities, time, and talents-must be managed. Human resource management works to ensure that employees are able to meet the organizations goals. Companys today are continuously changing. Organizational change has an impact not only the business but also its employees; the company at all time should be considerate to its entire employee. The company and employees should work together in harmony to remain productivity, and the HR manager is the bridge for the company and the employees to understand each other. Every organisation aims to keep a good staff retention record. However, retaining staff can be very time consuming and expensive. To retain staff is to give them reason to stay. This is normally done by giving employees incentives in addition to salary. These incentives normally take financial form; however, other psychological incentives work just as well. These psychological incentives can be as simple as verbal encouragement. This ultimately leads to motivation; therefore better performance. Other forms of psychological incentives include added responsibility and work challenges. Employees not only work for money, they work also to satisfy their psychological needs. As long as incentives are fair, employees will carry on working with more conviction. This will lead to good retention levels and result in lower costs in terms of recruitment. 4.4 Make justified recommendations to improve the effectiveness of human resources management in an organisation. HR manager it is my role to ensure that the organizations objectives and goals are followed by all personnel. Constant communication with the employees and evaluating their performance in their work will help me in this role. Problems in terms of the organizations work force must be immediately resolved in order to prevent unnecessary complexities. Our workforce is the organizations valued asset. It is my duty as HR manager to ensure that these assets will remain an asset for the organization; keeping our workforce productive and competitive in our business. The HR manager is a both a business and a strategic partner of the company. The HR manager contributes to the development and accomplishments of the companys business strategies and objectives. As a strategic partner, the HR manager designs the companys work positions: hiring, reward, recognition, and strategic pay; performance development and appraisal systems; career and succession planning; and employee development. As business partners, the HR manager have to think like business people, know finance and accounting, and be accountable and responsible for cost reductions and the measurement of all HR programs and processes. The HR manager can be considered as an employee sponsor or advocate, because of the integral role the HR manger plays in the company success due to his knowledge about and advocacy of the people. The expertise of the HR manager includes the managers expertise in creating a work environment in which people will be motivated to work, productive and happy in the co mpany. The HR manager provides employee development opportunities, assistance programs, gain sharing and profit-sharing strategies, due process approaches in solving corporate problems and schedule regular communication opportunities. The HR manager contributes to the company by constantly assessing and ensuring effective HR function. It is also the role of the HR manager to the companys mission, vision, values, goals, and action plan. Managers within the organization will help in handling our personnel. As a big organization with branches and different departments, it will be difficult to handle all the organizations personnel. Line managers can help in managing this problem. Line managers will be the one responsible in handling the personnel under their respective jurisdiction. They will be the one in charge to report to the HR manager all the progress and problems of an employee hey handle. The organizations HRM will be centralized, where the HR manager handles all the personnel through the line managers. By this means all problems in terms of the organizations personnel will be given enough attention and priority.

The Impact of Global Warming on Human Health Essay -- Climate Change E

When one hears the phrase â€Å"global warming,† what often comes to mind is melting ice caps and warmer winters but most people are horribly unaware of the effects that global warming will have on human health. Food shortages, contaminated water, extreme weather, and deadly heat threaten the world because of the warming temperatures of our earth. The effects of these can be seen today and their influence will be magnified in the not-so-distant future. But the most dangerous threat we face from global warming is the spread of disease. The term global warming refers to an unnatural and accelerated increase in temperature. These increases are mostly due to the release of heat trapping gases such as methane, nitrous oxide, halocarbons, and ozone. Almost all of these are byproducts of human commerce and activity. Things like car emissions, raising livestock, producing industrial chemicals and even deforestation add more of these chemicals to our air, throwing off the natural balance of our atmosphere (Berger 30). The mean temperature on Earth has risen about 1 degree Fahrenheit since the industrial revolution. It has been predicted that the climate could increase about 2.2 to 10 degrees in the next 100 years (EPA 2 0f 2). This data is supported by countless satellites, weather studies, oceanic studies and computer models of world wide climate patterns and this warming is inevitable (Shute et al 44). When doing global warming research one must be cautious, because the biggest source of misinformation on global w arming is the fossil fuel companies who will have you believe that global warming and it’s ill effects are nothing but scientific hype.    These ruthless companies go to great lengths to ensure that their business will... ...Health.† Futurist 26.2 (1992): 34-38. Shute, Nancy et al. â€Å"The Weather Turns Wild Global warming could cause droughts, disease, and political upheaval.† US News and World Report 5 Feb. 2001: 44-52. Sierra Club. 11 March 2003 . Other Works â€Å"Green House Effects.† Time Dec. 1999: 78-9 Global Warming International Center. 11 Nov. 2001. 11 Mar. 2003 . â€Å"Global Warming Disease Scares Are Based on Hype, Not Science, Notes Lancet Letter.† Consumer Alert. Apr. 1998. 11 Mar 2003 . Kaiser, Jocely. â€Å"NAS backs study of health, global change.† Science. 269.5231 (1995): 1659. Last, John M. â€Å"New causes for new diseases.† World Health. 50.1 (1997): 12-13.