Thursday, November 28, 2019

Zipcar free essay sample

It has a wide range of automobiles for its members to choose from including Volvos, mini coopers, pickup trucks and many more. Each vehicle has a designated parking space in a street or parking spot within the members’ area. It serves over 14 major markets in North America and Europe such as Boston, Portland, Vancouver, London and many others. Members are issued access cards. This allows one to unlock the doors in case the keys are still inside the automobile. They can make reservations online or by making a call. Zipcar allows its members to make reservations even up to a year in advance. It also offers an application on the iPhone. This application enables members to honk the horn so as to locate the car and also to unlock the doors. Zipcar charges an application fee only once along with an annual fee. These are charged depending on the market prices. We will write a custom essay sample on Zipcar or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Reservation rates vary depending on day of the week, model of the vehicle and the market. Gas and parking prices are included in the reservation rates. In 2007, Zipcar combined with Flexcar, a rival company, to build a car-sharing corporation with a nationwide reach. Zipcar has made significant contributions to the environment. This system of car-sharing encourages individuals to use cars only when they need to. Persons with their own cars tend to drive them whenever they want even when it is not necessary. This exposes the air to unnecessary emissions of carbon dioxide. On the contrary, Zipcars enable people to use cars when need arises. Therefore, use of Zipcar services greatly reduces air pollution. Environment In addition to reduction in levels of air pollution, the use of Zipcar services leads to reduced congestion on the roads. It also leads to reduced total mileage on vehicles implying that less fuel is used. The significance of Zipcar to the environment and the local communities is quite apparent in that it has become very important in the metropolitan transportation mix. A number of residents in urban areas have increased their use of public transportation, with a number of them getting rid of their own cars so as to make use of car sharing services such as Zipcar. The most effective way of reducing emission of greenhouse gases into the environment is by reducing the number of vehicles on the roads. This is what Zipcar aims to do through their car sharing services. The more individuals are encouraged to use this car-sharing service the less they make use of their own personal vehicles, thereby reducing congestion on the roads. As Zipcar progresses, it seeks to find even more ways to protect the surrounding and reduce risks that the environment is exposed to. Segmentation Market segmentation refers to the division of the targeted market into subsets so as target prospects that will give the highest returns. A market segment is a section of individuals with like traits that make them demand the same products and services. Market segmentation allows a company to focus their resources on market segments that yield the highest returns. An effective market segment is one that has its own unique needs. Individuals in this segment have the same needs. In addition, reaction of the members of this segment to market stimuli should be the same. Market segmentation can be done on a number of bases. Zipcar has done this on four bases. Its market segments are consumers, businesses, government and universities. It targets the consumers so as to provide them a less expensive hence cost effective means of transportation. Car rentals and car ownership are becoming quite expensive especially in the current economy thus individuals are embracing this system of car ownership (Leboyer, 2009). Another market segment for Zipcar is businesses. Businesses that require a lot of transport for their goods may need cheaper ways to do this. Zipcar provides a cost-effective avenue of transporting items. Zipcar is also available in a number of universities. Students in the campus are constantly looking for ways to minimize their expenditure. It would be very expensive or a student in the campus to maintain a car they own or to rent a vehicle when they need one. Thus, car sharing services such as Zipcar are highly effective in universities and the trend is catching on quite fast. The last market segment for Zipcar is the government. It works with the government to substitute and expand fleets. Before Scott Griffiths became its Chief Executive Officer, Zipcar operated more like a nonprofit organization targeting those close to where Zipcar was situated. Scott Griffiths came up with ways to increase its market base and make it a high profit earning company. Zipcar’s marketing strategy at the time was very costly, and a cheaper means of advertising needed to be found. Though there were advertisements everywhere around the city, individuals were not signing up to enjoy the services Zipcar offered. Marketing Strategy Scott Griffiths came up with ways to minimize advertising costs and reach more people at the same time. In public places such as movie theatres, there are posters of Zipcar and brochures of the organization and what it has to offer are issued out to the public. Zipcar aims to make everyone aware and willing to use their car sharing services. Zipcar has faced a number of challenges and also has many competitors in the same industry. Major competitors include U Car Share, PhillyCarShare and Co-operative Auto Network. They are classified as major competitors because they share the same market and have similar organizational forms. Zipcar operates in many major markets, thus the system of leadership is decentralized. Each market has its own manager and staff. This may lead to lack of proper communication due to lack of direct contact. Different branches may have different organizational cultures. This leads to the difference in opinions and leads to unnecessary disagreements. Lastly, though Zipcar recently added accommodation for disabled persons, it does not provide enough information about it on their website. This may discourage prospective consumers from joining. Zipcar should, therefore, aim at maximize visibility of all options on their website. Awareness is the first stage of customer loyalty and is an inevitable stage if a company a business has to have clients. Zipcar has seen most of its customers passing through his stage. Given the fact that most of the clients in the company are return clients, there is a clear indication that many are aware of existence of Zipcar. What remains to be of concern to Zipcar is the ability to convert those that are already aware of the company and the expeditions it offers. Exploration is the second most important stage in customer loyalty. Taking a look at the Zipcar, we find that awareness is on an average level. This is demonstrat ed by the fact that most of the clients to the company come from neighboring states. Most of, would be customers, fail to develop interests in the using the company services which makes them not to enquire on what the company has to offer. Familiarity is what has made many that are joining the company to always participate in and come back for the services. The fact that most of those that participate in biking come from neighboring states present an issue, which is familiarity. Commitment is the stage that Scott Griffiths would wish to always achieve and maintain. The level of commitment of customers of Zipcar is high. This is demonstrated by the repetitive participation of customers in the expeditions. This means that such customers are satisfied with whatever the company offers. If it were not so, the company would not have been witnessing eighty percent participation of past participants in its motor expeditions (Leboyer, 2009). SWOT and PEST Analysis The company’s strengths include the fact that Zipcar aims to find out exactly what consumers need and how to satisfy those needs. When Griffiths became the CEO of Zipcar, he found that that people were aware of Zipcar and the services they offered but did not trust them. Therefore, Griffiths came up with ways to make Zipcar more accessible to residents. Scott also increased the makes and models they currently had so as to better fit the needs of the younger generation who required fancier cars. In addition to this, strength of Zipcar it the use of technology to satisfy consumer needs. An example of this would be automated access by members using the Zipcard. As explained before, the Zipcard allows members to unlock the doors. Information about Zipcar is available on the internet making it easier for consumers to make reservations and get more information on Zipcar locations. Zipcar has had a number of innovative unions, for example, with the iPhone. Zipcar has an application on the iPhone that allows members to honk the horn to locate the cars and to unlock them, as well. Zipcar collaborated with universities to make their services accessible to students. It got the universities to pay for insurance. However, Zipcar also has several weaknesses as an organization. First, all Zipcar operations are dependent on technology. This includes the billing system, reservations, and many other functions. This suggests that if something were to go wrong with the technology say hacking, for example, then Zipcar would face a lot of damage. Zipcar should ensure protection of its data through constant backups. Zipcar has lots of opportunities in this market if they will take quick advantage of it before their competitors. Consumers aim is to save money. They go for options that are most convenient to their needs. Thus, Zipcar needs to focus on getting non-members to believe that they actually need their car sharing services. They can do this by use of demographics and extensive advertising. Zipcar is mainly used during the night and on the weekends. Zipcar should look for ways to encourage members and non-members to make use of their services during the day so as to maximize their profits. Zipcar can also increase its market base by looking into the opportunity to reserve cars for long distances and one-way trips. Zipcar should also look into ways of retaining student members even after graduation (Smith, 2011). There is also an opportunity for growth in transit connections, Zipcar should, therefore, look or ways of maximizing on that. Zipcar faces a number of threats including competition from nonprofit car sharing companies. Consumers may prefer to join this companies rather than Zipcar which is not a nonprofit organization. Additionally, Zipcar aces threats from rental companies that are now offering car sharing services, as well. The ever increasing fuel prices are also proving to be quite a challenge for Zipcar. This is because even though they transfer additional costs back to the consumer, they cannot charge prices that are too high as they will lose their customers (Leboyer, 2009). Using the PEST analysis, Zipcar also faces a lot of challenges. Zipcar is a company; therefore, it has to adhere to company policies as stipulated by the law. It, therefore, has to keep in line with ever changing laws. Political interference is also an issue. However, the political status of the United States is stable at the moment. The company faces an uphill task of maintaining its neutrality on governance issues especially during the electioneering period. Operating in a federal state, Zipcar faces a great challenge of having to comply with by-laws that may differ from one state to the other (Capon, 2009). The current economy is not very stable and this presents a problem for Zipcar. The cost of living has gone up and people look for ways to minimize costs. Zipcar has to look for ways to attract its customers and convince them that it is the cheaper option. Socially, Zipcar is embraced by the society and with the increase in a variety of cars available to consumers; it has been able to increase its popularity. Zipcar operations depend majorly on technology. It is paramount, therefore, that Zipcar is aware of changing technology and that it changes with changing times. Conclusion Zipcar at the moment has partnered with a lot of companies which has made it easy for them to penetrate the European market. Zipcar has also has also developed an apple application that honks car horns and unlocks some Zipcars. In June 2010, the company filed registration process for the initial public offering. The company finally went public when the first Initial Public Offering in April 2011 raised more than $174 million by issuing 9. 68 million shares. They exceeded their target during this process. Goldman Sachs amp; Co. and J. P. Morgan Securities LLC are acting as the joint book-runners for the offering. Cowen and Company, LLC, Needham amp; Company, LLC and Oppenheimer amp; Co. are acting as co-managers. The reason for going public was to help raise funds for debt repayment and expansion of the business. They needed more working capital to help develop new services, sales, marketing activities, capital expenditures and general corporate purposes. Zipcar has overall membership of over 400,000. This is a sensitive market hence every marketing strategy used by the company reflects in its overall operations. Car sharing reduces parking commotion in cities and provides services to its customers. Since the benefits are intangible, the company focuses on satisfying their customers to maintain and improve its market share. Consumers’ great influence is value, utility, and benefit of the product or service. The decision- making process involves stages that the marketer can influence and intervene to attract customers. Recommendations The marketer should trigger the need of the consumer and know the time to emphasize its product or service to consumers to survive in the market. The marketers should put efforts to establish its distribution channels and the location of the business to access more customers to improve profits. Markets should have a comprehensive marketing strategy to produce better results and acquire customer loyalty. The company should take time to analyze its competitors in order to formulate and implement programs that are customer focused. The marketer should identify changing goals of consumer trends in future consumer behavior to ensure a good future performance of the company. The researcher should conduct effective and reliable market research to help the company making the right decision in the process of marketing its product or service. Zipcar has so far done well with its marketing strategy. However, with increased competition and other challenges, the company needs to devise other ways of marketing its products. This can include short term price concessions. This will enable the company to continue expanding while at the same time maintaining its existing clientele. Price concessions would easily boost up the sales of the company given that Zipcar’s products are price elastic. This strategy would also work well for the company given that its competitors have less financial power to compete on the basis of price concessions (Pride, 2011). Groupon and Linvingsocial is another great resource they should be taking advantage of. These are companies that aim at giving customers services at discounted prices while helping companies create awareness of services they have to offer. These two companies have become very popular to young adults, graduates and new parents. New deals on these sites everyday are sorted out by lots of clienteles who want to enjoy freebies during this recession period. Using such marketing schemes will help build awareness for Zipcar while creating a new set of customers. Zipcar also needs to invest more on e-mail marketing. Zipcar can use e-mail marketing strategy to developed and expand its clientele. This can be done through linking its services and or portal to emails through permission channels. This would make it possible for a person surfing to get more information about Zipcar deposited on their mails. It should be done in a manner that would enable information on up-coming expeditions deposited into the e-mails of subscribers. E-mail marketing of Zipcar should be designed to provide feedback mechanism. This means that hyperlinks and hypertexts should be incorporated in its design to enable bloggers to get into Zipcar portal in the shortest time possible. E-mail marketing would be far much better than print mail advertising. This is because e-mail advertising would provide for. I major advantage they should be exploring is franchising. This will enable them grow very fast in the global market rather than just relying on merger and acquisitions only. Reason why is because the local market knows their customers already and would be easier to convince the community of the benefits of Zipcar. The trust of a local owner in a developing country is highly beneficial for the company who is aiming at going global. The communities will not see Zipcar as a corporation who is trying to impose their eco-friendly values on them but as a business that understand their needs and is ready to offer its services to ease their everyday struggle. Reference Pride. W. (2011). Marketing. New York. Cengage Learning. Smith. T. (2011). Pricing Strategy: Setting Price Levels, Managing Price Discounts, amp; Establishing Price Structures. New York. Cengage Learning. Capon. N. (2009). Capons marketing framework. London. Wessex Publishing Basenese, Louis. Zipcar, Inc. : steer clear of the â€Å"winner’s curse† (Part 2). 2011. Web. June 29, 2011. www. Zipcar. com

13 Engaging Ways to Begin an Essay

13 Engaging Ways to Begin an Essay An effective introductory paragraph both informs and motivates. It lets readers know what your essay is about and it encourages them to keep reading. There are countless ways to begin an essay effectively. As a start, here are 13 introductory strategies accompanied by examples from a wide range of professional writers. Introductory Strategies State your thesis briefly and directly (but avoid making a bald announcement, such as This essay is about . . .). It is time, at last, to speak the truth about Thanksgiving, and the truth is this. Thanksgiving is really not such a terrific holiday. . . . (Michael J. Arlen, Ode to Thanksgiving. The Camera Age: Essays on Television. Penguin, 1982)Pose a question related to your subject and then answer it (or invite your readers to answer it). What is the charm of necklaces? Why would anyone put something extra around their neck and then invest it with special significance? A necklace doesnt afford warmth in cold weather, like a scarf, or protection in combat, like chain mail; it only decorates. We might say, it borrows meaning from what it surrounds and sets off, the head with its supremely important material contents, and the face, that register of the soul. When photographers discuss the way in which a photograph reduces the reality it represents, they mention not only the passage fr om three dimensions to two, but also the selection of a point de vue that favors the top of the body rather than the bottom, and the front rather than the back. The face is the jewel in the crown of the body, and so we give it a setting. (Emily R. Grosholz, On Necklaces. Prairie Schooner, Summer 2007) State an interesting fact about your subject. The peregrine falcon was brought back from the brink of extinction by a ban on DDT, but also by a peregrine falcon mating hat invented by an ornithologist at Cornell University. If you cannot buy this, Google it. Female falcons had grown dangerously scarce. A few wistful males nevertheless maintained a sort of sexual loitering ground. The hat was imagined, constructed, and then forthrightly worn by the ornithologist as he patrolled this loitering ground, singing, Chee-up! Chee-up! and bowing like an overpolite Japanese Buddhist trying to tell somebody goodbye. . . . (David James Duncan, Cherish This Ecstasy. The Sun, July 2008)Present your thesis as a recent discovery or revelation. Ive finally figured out the difference between neat people and sloppy people. The distinction is, as always, moral. Neat people are lazier and meaner than sloppy people. (Suzanne Britt Jordan, Neat People vs. Sloppy People. Show and Tell. Morning Owl Press, 19 83) Briefly describe the place that serves as the primary setting of your essay. It was in Burma, a sodden morning of the rains. A sickly light, like yellow tinfoil, was slanting over the high walls into the jail yard. We were waiting outside the condemned cells, a row of sheds fronted with double bars, like small animal cages. Each cell measured about ten feet by ten and was quite bare within except for a plank bed and a pot of drinking water. In some of them brown silent men were squatting at the inner bars, with their blankets draped round them. These were the condemned men, due to be hanged within the next week or two. (George Orwell, A Hanging, 1931)Recount an incident that dramatizes your subject. One October afternoon three years ago while I was visiting my parents, my mother made a request I dreaded and longed to fulfill. She had just poured me a cup of Earl Grey from her Japanese iron teapot, shaped like a little pumpkin; outside, two cardinals splashed in the birdbath in the we ak Connecticut sunlight. Her white hair was gathered at the nape of her neck, and her voice was low. â€Å"Please help me get Jeff’s pacemaker turned off,† she said, using my father’s first name. I nodded, and my heart knocked. (Katy Butler, What Broke My Fathers Heart. The New York Times Magazine, June 18, 2010) Use the narrative strategy of delay: put off identifying your subject just long enough to pique your readers interest without frustrating them. They woof. Though I have photographed them before, I have never heard them speak, for they are mostly silent birds. Lacking a syrinx, the avian equivalent of the human larynx, they are incapable of song. According to field guides the only sounds they make are grunts and hisses, though the Hawk Conservancy in the United Kingdom reports that adults may utter a croaking coo and that young black vultures, when annoyed, emit a kind of immature snarl. . . . (Lee Zacharias, Buzzards. Southern Humanities Review, 2007)Using the historical present tense, relate an incident from the past as if it were happening now. Ben and I are sitting side by side in the very back of his mother’s station wagon. We face glowing white headlights of cars following us, our sneakers pressed against the back hatch door. This is our joyhis and mineto sit turned away from our moms and dads in this place that feels like a secret, as though they are not even in the car with us. They have just taken us out to dinner, and now we are driving home. Years from this evening, I won’t actually be sure that this boy sitting beside me is named Ben. But that doesn’t matter tonight. What I know for certain right now is that I love him, and I need to tell him this fact before we return to our separate houses, next door to each other. We are both five. (Ryan Van Meter, First. The Gettysburg Review, Winter 2008) Briefly describe a process that leads into your subject. I like to take my time when I pronounce someone dead. The bare-minimum requirement is one minute with a stethoscope pressed to someone’s chest, listening for a sound that is not there; with my fingers bearing down on the side of someone’s neck, feeling for an absent pulse; with a flashlight beamed into someone’s fixed and dilated pupils, waiting for the constriction that will not come. If I’m in a hurry, I can do all of these in sixty seconds, but when I have the time, I like to take a minute with each task. (Jane Churchon, The Dead Book. The Sun, February 2009)Reveal a secret about yourself or make a candid observation about your subject. I spy on my patients. Ought not a doctor to observe his patients by any means and from any stance, that he might the more fully assemble evidence? So I stand in doorways of hospital rooms and gaze. Oh, it is not all that furtive an act. Those in bed need only look up to discover me. But they never do. (Richard Selzer, The Discus Thrower. Confessions of a Knife. Simon Schuster, 1979) Open with a riddle, joke, or humorous quotation, and show how it reveals something about your subject. Q: What did Eve say to Adam on being expelled from the Garden of Eden? A: I think were in a time of transition. The irony of this joke is not lost as we begin a new century and anxieties about social change seem rife. The implication of this message, covering the first of many periods of transition, is that change is normal; there is, in fact, no era or society in which change is not a permanent feature of the social landscape. . . . (Betty G. Farrell, Family: The Making of an Idea, an Institution, and a Controversy in American Culture. Westview Press, 1999)Offer a contrast between past and present that leads to your thesis. As a child, I was made to look out the window of a moving car and appreciate the beautiful scenery, with the result that now I dont care much for nature. I prefer parks, ones with radios going chuckawaka chuckawaka and the delicious whiff of bratwurst and cigare tte smoke. (Garrison Keillor, Walking Down The Canyon. Time, July 31, 2000) Offer a contrast between image and reality- that is, between a common misconception and the opposing truth. They aren’t what most people think they are. Human eyes, touted as ethereal objects by poets and novelists throughout history, are nothing more than white spheres, somewhat larger than your average marble, covered by a leather-like tissue known as sclera and filled with nature’s facsimile of Jell-O. Your beloved’s eyes may pierce your heart, but in all likelihood they closely resemble the eyes of every other person on the planet. At least I hope they do, for otherwise he or she suffers from severe myopia (near-sightedness), hyperopia (far-sightedness), or worse. . . (John Gamel, The Elegant Eye. Alaska Quarterly Review, 2009)

Sunday, November 24, 2019

Overview of the Genitive Singular in Latin Declensions

Overview of the Genitive Singular in Latin Declensions When you are trying to translate a Latin noun into English or English into Latin, you should know which of the five declensions the noun falls into. If you know the declension and the dictionary forms of a noun, youre set. For instance, the word puella, a first declension word that will be listed as puella, -ae, f. or something similar in the dictionary, is feminine (thats what the f. stands for; m. stands for masculine and n. stands for neuter) and is first declension, as you can tell from the second part of the dictionary listing, here; -ae. The genitive (cÄ sus patricus paternal case in Latin) is the name for this second form (-ae for the first declension) and is easy to remember as the equivalent of a possessive or apostrophe-s case in English. Thats not its complete role, though. In Latin, the genitive is the case of description. The use of one genitive noun limits the meaning of another noun, according to Richard Upsher Smith, Jr., in A Glossary of Terms in Grammar, Rhetoric, and Prosody for Readers of Greek and Latin: A Vade Mecum. There are five declensions in Latin. The genitive ending is used in the dictionary because each of the five declensions has its own genitive form. The five genitive terminations are: -ae-Ä «-is-us-eÄ « An example from each of the 5 declensions: puellae - the girls (puella, -ae, f.)servÄ « - the slaves (servus, -Ä «, m.)principis - the chiefs (princeps, -ipis, m.)cornÃ… «s - the horns (cornÃ… «, -Ã… «s, n.)dieÄ « - the days (dies, -eÄ «, m.)

Streetcar Named Desire - Blanches Downfall essays

Streetcar Named Desire - Blanche's Downfall essays In Tennessee Williamss play A Streetcar Named Desire, the character Blanche DuBoiss mental state deteriorates as the story progresses. During the play, several events in Blanches past are revealed. These events allow one to understand why Blanche acts the way she does, and why certain events affect her the way that they do. In the end, these events cause Blanches total mental breakdown. The event that started Blanches mental deterioration was her husbands suicide. Her husband was a homosexual, and Blanche had caught him with another man. Later, while dancing with him to the Varsouviana, she told him that he disgusted her. He ran off the dance floor and shot himself. Blanche always blamed herself for her husbands suicide, and grief overcame her. As she says in the play, the light that her husband cast on her world went out. Without her husband, Blanche was lost. Blanches familys estate, Belle Reve, was lost after the deaths of many family members. The bills for the funerals of her family fell upon Blanche. Now she was not only stricken with grief after the loss of family members, she was forced to give up her home. The estate her family had owned for hundreds of years was gone. Blanche was forced to find a place to stay, and a place for her to try and pick up the pieces of her shattered life. In order to try and end her grief, Blanche was intimate with many men over a short period of time. She lived in Laurel, in a sleazy hotel called the Flamingo. During her time in this hotel, she became quite infamous. She would try to fool men into believing that she was an innocent southern woman. Since the town was small, the facts about Blanche spread rapidly, and she was asked to turn her room key in at the Flamingo. She realized that she had failed to make herself feel better. Her relations with these men only made her feel worse in the long run. ...

Thursday, November 21, 2019

Astrology and Scientific Method Essay Example | Topics and Well Written Essays - 500 words

Astrology and Scientific Method - Essay Example For instance, in much of the world winter months are much colder and have much less daylight than Summer months, so it could be that babies who are first learning to walk and experience the world in June, when they can go outside and experience a great deal of sunlight, open spaces and so on, might generally have a different makeup from babies who are at that stage of their development in December, when they have little daylight and no open spaces. This could lead to their being a general difference in character between people born in December and those born in June, but would obviously be heavily related to how fast someone develops, the climate they live in and so on. And so far, there is very little reason to suspect this is true. The scientific method is one of the most important ways of understanding the world that humans have. Its basic idea is that you create a hypothesis, for instance, objects with mass attract each other. Then you perform experiments, and see if the results match or do not match your hypothesis. Using that example, if you drop a ball and it falls, it confirms the hypothesis, but if it does not then it denies it. One of the most important things about the scientific process it that any rule must be true one hundred percent of the time – if a ball ever just hovers in the air when dropped, one would have to re-think gravity. Things must also be repeatable – another person must be able to conduct the same experiment and get the same result. Astrology fails these tests in many ways – firstly, no astrologer would ever tell you that their horoscopes are true for every single person born under that sign every time a horoscope is published. Furthermore, astrology is not base d on observation of things that occur in the real world, nor does it use experiments to see if its finding are accurate. In light of everything I have learned about astrology, I would say that the line from â€Å"Julius

Dealing with Quick Wins Research Paper Example | Topics and Well Written Essays - 500 words

Dealing with Quick Wins - Research Paper Example This is exactly what happens in the case of Canadian Tire. Some decision makers within the organization are recommending "quick wins" presently when they are in the middle of implementing a long-term project, which is the redevelopment of a business intelligence (BI) infrastructure. The "quick wins" being referred to are short term projects recommended in response to assessed opportunities. These include the access to daily promotional data, forecasting and model simulation for incremental sales, pricing optimization reports and competitiveness analytics, among others (p.10). These projects were all IT-related and involve constant realignment and redirection of resources. It adversely impacts the long-term BI infrastructure project. In order to address the dilemma, I would like to establish some facts first. Foremost is the importance of the BI infrastructure project currently being undertaken. It is a much called for reform in order for Canadian Tire to be competitive. The long-term strategy will overhaul the way business is conducted in the organization. It is expected that organizational processes will be streamlined, business operations would be more cost effective, workforce will be more productive, decision making will be more informed and, hence, more effective and the organization would be in a better position to respond to risks and opportunities, among other benefits and advantages. On the other hand, the organization is also operating presently with the old model, as the transition being targeted by the reform is not yet completed. Canadian Tire has to respond to the movements of the market, the demands of the consumers, the impact of competition, the emergence of immediate risks and opportunities and a host of other short-term variables. That is why quick wins are imperative. It is clear that both of the points outlined

Wednesday, November 20, 2019

Code Blue--Emergent Care Assignment Example | Topics and Well Written Essays - 2000 words

Code Blue--Emergent Care - Assignment Example Emergency rooms offer significant medical benefits to relevant patients from the expertise of medical specialists in all Emergency rooms (Gindi et al, 2011). As a result, the nation’s emergency rooms treat millions of patients who visit the attention of the medical facility (Gindi et al, 2011). However, there have been various complaints against the services, organization, and management of the emergency rooms. As seen in this context, such complaints may relate to inadequate patient care, poor Emergency Room management, long wait times, and patients being sent away because of lack of space, staff, or physicians to provide appropriate care (Gindi et al, 2011). These complaints demean the effectiveness of the emergency rooms. Nevertheless, various hospitals and other primary care centers are putting significant efforts to address the problems which normally relate to the operations in emergency rooms. As a chief operating officer, this paper highlights my discussion on the comp laints, measures to overcome the complaints, the effects of the â€Å"Good Samaritan Law† in treating ER patients, and other dynamics that relate to Emergency Rooms. Diagnosis of the Root Causes of the Complaints about the Clinic The numerous complaints about the clinic which hosts the Emergency Room emanate from different patients who register their dissatisfaction in the operations of the emergency room. Indeed, the complaints had different patterns, overall incidences, causes, validity, and possible solutions. The complaints included inadequate patient care, poor Emergency Room management, long wait times, and patients being sent away because of lack of space, staff, or physicians to provide appropriate care. The complaints emanated from insufficient communication by the doctor, nurse, registration clerk, and health care assistants (Tam & Lau, n.y). This leads to the patients assumption of poor staff attitude which results to assumed inadequate patient care. In fact, poor communication provokes incorrect interpretation of Emergency Room staff attitude and explanation and hence the complaints. Indeed, where the hospital staff cannot master effective communication skills, the patients always complain against the health system. At the same time, misdiagnosis and disagreement on diagnosis by the doctors leads to ineffective treatment which reflects on the patient’s complaints of inadequate patient care or lack of appropriate care at the clinic (Tam & Lau, n.y). In addition, lack of proper management skills among the health care providers lead to inadequate management which generate complaints of poor Emergency Room management in the clinic. Actually, the hiring of inadequate managers derives these complaints in the long run. Moreover, the environment which incorporates poor design of the clinic will lead to complaints of insufficient space and insufficient number of lift in the facility as the management will have to send the patients away subject to the resultant constraints. Seasonal outbreaks, higher patient volumes, and inappropriate use of emergency departments by patients with comparatively minor illnesses also lead to such complaints. Moreover, the government’s inability or ignorance to finance the health sector leads to the hiring and retention of insufficient staff or physicians which consequently generates the patient’

Total Quality Management Essay Example | Topics and Well Written Essays - 1000 words

Total Quality Management - Essay Example It is implied that cost of quality needs to be taken into consideration before deciding on a firm’s plans for ensuring the quality of its products/ services. In other words, extremely high cost of quality can threaten a company’s health either in the short or the long term. Cost of quality can be used as an indicator of a company’s health. This fact is verified through the following example: a series of firms operating in the manufacturing industry of Malaysia decided to establish a Cost of Quality (COQ) Reporting System (Rasamanie and Kanagi 243). It was expected that this initiative would help these firms to improve their performance (Rasamanie and Kanagi 247). Indeed, the implementation of the above system resulted to a series of important benefits in regard to these firms’ performance. The benefits achieved for the firms participating in this project are presented in Table 1 below. Table 1 – Benefits resulted because of the implementation of the COQ Reporting System in manufacturing firms in Malaysia (Rasamanie and Kanagi 247) It is clear from the data presented in Table 1 above that the implementation of COQ Reporting System in Malaysian manufacturing firms enhanced their performance. ... The potential use of quality cost for measuring a company’s health can be understood if referring to the elements of cost of quality. Haryanto (186) noted that the cost of quality includes four different types of costs: ‘Prevention cost, Appraisal cost, Internal Failure cost and External Failure Cost’ (Haryanto 186). These costs, each of which incorporates a series of sub-costs (Table 2 below), can be used for identifying the performance of a company in regard to its various sectors/ departments. In this way, the cost of quality helps to measure and evaluate a company’s health. If costs related to one or more of the firm’s operations are high this fact is considered as a negative indicator for the company’s health. Table 2 – Elements of Quality Costs (Blocher, Chen and Lin 176 in Haryanto 186) The relationship between quality of cost and a company’s health is reflected in the Acceptable Quality View, an approach for deciding on a firm’s optimum quality cost (Haryanto 188-189). The Acceptable Quality View is based on the assumption that ‘there is a trade – off between control costs and failure costs’ (Haryanto 189). In a healthy company, ‘failure costs would be reduced as the control costs are increased’ (Haryanto 189). The above trend is presenting in Graph 1 below. Graph 1 – AQV – Quality costs graph (Haryanto 189) Question 2 A customer – driven quality circle would include the parts indicating in Graph 2 below. The parts of the graph are based on the study of Reis and Pena (2000). According to the above researches, a customer driven organization focuses on the creation of ‘a customer-driven organizational culture’ (Reis and Pena 43). In this context, a customer

Monday, November 18, 2019

Economics Essay Example | Topics and Well Written Essays - 500 words - 2

Economics - Essay Example Due to current civil unrest in Bahrain and neighboring locations there are no current statistics available. However, the rate of inflation in 2010 was 3.3% which was up sharply from the reported 2.8% in 2009. One author from the Wall Street Journal wrote, â€Å"In its statement, Egypt's Central Bank said deteriorating regional political circumstances, including a civil war in Libya as well as violence in Syria, Yemen and Bahrain, could drive up oil prices and further slow the continuing global economic recovery.† (Bradley) The Bahrain Economic Development board is positive in the most recent release, â€Å"In Q4 2010, the Bahrain economy is expected to post similar growth to that seen in the third quarter growth†¦over 4%† (Bahrain Economic Quarterly p. 4). Overall there is growth occurring especially in the tourism section as oil only accounts for approximately 15% of the economic outlook. With the civil unrest and potential for continuing problems there may be a d rop in tourism as a result. It will be necessary to see what the results are before making long term forecasts. Bahrain Economic Quarterly, . "Bahrain 2030, Bahrain Economy." Bahrain Economic Development board. N.p., First Quarter 2011. Web. 28 Apr 2011. http://www.bahrainedb.com/uploadedFiles/Bahraincom/BahrainForBusiness/BEQ%20Q1%202011.pdf Bradley, M. "Egypt Central Bank Keeps Key Interest Rates Unchanged ." Wall Street Journal. Dow Jones and Company, 28 April 2011.

Answering Poems Assignment Example | Topics and Well Written Essays - 500 words

Answering Poems - Assignment Example The oldest wood arises from a forest that has not faced exposure to deforestation for a long time hence chances that the wood has survived for a long time. It’s also important to note that the age of the wood significantly define the maturity and strength of the product. Interpretation of this in the world of humanity, incriminating evidence indicates that the depth of knowledge in an individual highly defines the identity of a person although this takes time to build. Frost enumerates the various significance of tree in the society. In his poem â€Å"A Young Birch" the value of tree widely play a significant role in defining life of man and other animals virtually depending on it (Tuten, et al,391). The tree has medicinal values to the society and although it takes time to nurture, it has inexhaustible application. Actions of people in the society highly influence the fate of the trees although some mutual relationship exists between both sides. The value of the trees relies on nature of care accorded to the tree and the length of time spared for nurturing to maturity. The beautiful serene environment and scene created by these trees is aesthetic. Uses of trees virtually find a place all over the daily life and various activities of man in as much as taking care of it may sound tedious and discouraging. Once taken care of and harvested, trees have unlimited use in the society. Critical analysis of the values of tree leaves no doubt that they remain complementary to each other. It remains a fact that wood finds use in any surrounding of man in terms of the items made from it. The bed, furniture, books and other essential products virtually come from wood and constitute the better part of human life. The poets express the unending value of trees which spread over the life of man for a long time. Just like the invaluable nature of knowledge in the life of an individual, survival of human being basically remain anchored on

Friday, November 15, 2019

What Is Succession Planning Commerce Essay

What Is Succession Planning Commerce Essay In Lawrence S. Kleimans writings about the post-hiring phase, he suggests several elements that include training and development, compensation, productivity improvements and both financial and non-financial rewards (p.8). However, another crucial element that todays employees seriously consider when accepting a job opportunity is the succession planning framework of the organisation in question. Succession planning basically involves the establishing of the right people in the right positions at the right time to enable the division and ultimately the organisation to progress towards its goals. Atwood (2007) reiterates this when he explains that succession planning is the on-going process of identifying future leaders in an organisation and developing these leaders to enable them to helm the organisation effectively (p. 1). Atwood also goes on to explain that the succession planning process involves the reviewing of the organisations strategic plans, analysing the existing workforce, forecasting potential trends and developing employees through a structured plan to take over from current leaders who retire or decide to leave the organisation for whatever reasons (p. 1). In Rothwells (2010) writings, succession planning is defined as a means by which to identify and develop internal talent to meet current and future talent needs of the organisation (p. 7). The author further emphasises that succession planning is a deliberate and systematic effort of an organisation to ensure leadership continuity within the organisation. It is also a means to develop intellectual and knowledge capital for the future, and to spur individual advancement (p. 7). Singer and Griffith (2010) suggest that succession planning is more than just replacement planning or merely filling vacancies within the organisation as they occur. The author also states that comprehensive succession management integrates talent management with the organisations strategic planning (p. 1). Succession planning is a proactive initiative which does not wait for the talent or those in key positions to leave the organisation before the process kick-starts. Succession planning is an initiative that is ahead of the curve, anticipating, developing, and ensuring that key tasks are accomplished and knowledge is shared as well as transferred healthily (p.7). Another explanation of succession planning to mull over is Olstein, Marden, Voeller and Jennings (2005), whereby the authors suggest that succession planning is a utility that encompasses a well-developed plan to prepare for the future generational change (p.15). Succession planning is further reiterated as a methodical process that involves analysing the existing workforce, identifying the needs of the workforce in the future and determining the gap between the current and future. It also includes implementing solutions so that the organisation is able to achieve its corporate aspirations (p. 16). Hastings (2005) explains succession planning in four phases as illustrated below in diagram 1.1: Diagram 1.1: Four Phases of Succession Planning (Source: Hastings, 2005, p. 2) The diagram above talks about 4 phases in succession planning that are crucial for the process to be effective. Hastings also reiterates the earlier statements that succession planning is an on-going process and not just a one-time effort. The organisation has to keep the cycle of succession planning going in order for it to be able to effectively position its leadership candidates in the right places. 1.1 Who Needs Succession Planning? Succession planning should be undertaken by organisations who wish to continue their successes in the future or who plan to expand their success in the future. Shipman (2007) states that competitive organisations know that investing in their employees with career development and a good succession planning framework is an investment that will reap multiple rewards (p. 24). Shipman also states that due to the ageing workforce, succession planning is a priority that must be looked into in todays organisations (p. 25). It is an initiative that should involve employees with good performance and who show great potential for leadership roles within the organisation. Succession planning can involve employees from all levels of jobs. Hastings (2005) states that succession planning is needed for staff, with input from staff as well, as staff need to be aligned to the organisations succession planning framework in order for it to work effectively (3). In Rothwells (2005) writings he states that organisational leaders must realise that their companys long-term viability is at stake if they do not seriously structure succession planning. It will affect the retention of qualified talents within the organisation which will lead to serious effects on the organisations strategic objectives (p. 27). An effective succession plan will enhance the smooth transfer of business and allow the organisation to maintain good relationships with employees and business partners by way of (excerpt from the Canada Business Network): Protecting the business legacy Building value for the organisations and its business Providing financial security for stakeholders Dealing with unexpected leadership absences such as death, resignations or termination. Preparing for the future of the business Therefore it can be concluded that succession planning is not only need for the organisations workforce but also for the organisation itself to maintain its competitiveness and to achieve its corporate objectives and goals. 1.2 The Importance of Succession Planning According to Rothwell (2005), succession planning is important for 4 main reasons (p. 41): The continued success and survival of the organisation which depends on the right people being at the right positions at the right time. The lack of good leadership in the market at large to take on the helm of an organisation To encourage diversity and multiculturalism within the organisation To establish the basis for career path planning, development and training plans In the Houston Chronicle (http://smallbusiness.chron.com/importance-succession-planning-5129.html ), Louise Balle suggests that succession planning is an approach whereby an organisation or business owner transfers knowledge or even the administration of the business to another capable or well-equipped individual upon retirement, disability or even death. Balle further reiterates that a succession plan is important because it offers the organisations management or the business owner an alternative for when the need arises. In Elizabeth Harrins (2010) article in The Glasshammer website, it is stated that the number of managers available to step into leadership roles will drop dramatically in the coming years according to a study by EgonZehnder International. The study states that the average company will be left with just one half of its talents by 2015, due to the fact that there are just not sufficient people with the right skills and experience to take the reigns for the future (except from http://www.theglasshammer.com/news/2010/04/27/developing-future-leaders/ ). Therefore, succession planning is a crucial element to ensure leadership continuity within an organisation, without which the organisation will have no capable leaders at the helm for the future. The HR Council for the Non-Profit Sector (excerpt from http://hrcouncil.ca/hr-toolkit/planning-succession.cfm#_secA3 )states that succession planning is important because it can offer the following benefits: The assurance that the organisation is prepared for leadership crises and can maintain leadership continuity. The continued supply of qualified and motivated people who are capable and prepared to take on the current senior positions within the organisation. Assures alignment of the organisations vision and human resources that reflect a good understanding for strategic human capital planning. Shows the organisations strong commitment towards developing its peoples career paths as well as enabling the organisation to facilitate effective recruitment and retention of high-performing employees. A strong reputation as an employer who invests in its people and provides opportunities for advancement. Strengthen employee engagement conveying the message that the organisation values its employees. In an article in The StarBiz (2 July 2007), it is stated that Malaysian companies are generally aware of the importance of succession planning, particularly larger corporations. The article quotes SMR Technologies Bhd Chairman and Chief Executive Officer, Dr R. Palan as saying that common sense dictates that an organisation should have a succession plan in place despite their size and status. Palan also states that in Malaysian government-linked companies, much effort has been made to develop the next level of leadership in a conscious and planned manner. He said that there is a common trend worldwide for large companies to focus on developing stars and A players the top 5 per cent of a companys manpower. He reiterates that smooth successions were a result of well-thought plans to ensure business continuity (excerpt from http://biz.thestar.com.my/news/story.asp?file=/2007/7/2/business/18179462sec=business ). Dr Palan offers an example in The General Electric Company (GE), whereby he states GE is arguably one of the most successful companies in the world with a good track record of returns to shareholders. Dr Palan explains that this is attributed to GEs CEO Jack Walsh, having a pool of three successors, before he retired, to take on the administration of the company. One succeeded Jack Walsh whilst the other two went on to contribute successfully in other corporations. Dr Palan stresses that companies should have a succession plan as it is the only way to stay relevant in a changing world (excerpt from http://biz.thestar.com.my/news/story.asp?file=/2007/7/2/business/18179462sec=business ). Another statement by a Malaysian business stalwart in The StarBiz (2 July 2010) Dr Michael Yeoh states that Malaysian corporations were now increasingly aware of the importance of succession planning in order to establish business continuity in the interests of stakeholders. He quotes that some listed companies on Bursa Malaysia now have three or four possible candidates that could replace the CEO if and when necessary (http://biz.thestar.com.my/news/story.asp?file=/2007/7/2/business/18179462sec=business). 1.3 The Current Issues in Succession Planning The current issues affecting succession planning can take on many facets. According to Rothwell (2001), these issues can include (article 78); An aging workforce and retirement of Baby Boomers. Changes in the work environment with varying processes, technologies and mechanisms. Changes in the workforce with regard to diversity, with the increasing number of immigrant workers in all sectors. Globalisation which includes rules and regulations, government polices and processes as well as evolving methods of business transactions. Military conflicts, affecting countries with civil instability. Technology accelerators, that enable business to be done in a myriad of methods which are different from past business transactions in the 1990s and before that. Tight labour market Unethical and unprofessional behaviour of organisation leadership, that includes prejudice, unequal opportunities and unprofessionalism, amongst others. According to Mathis and Jackson (2010), issues surrounding succession planning are prevalent worldwide. The authors state that the percentage of the aging population in the workforce in Japan, Germany, Italy and England, are even higher than in the USA. Their analysis says that with the growth of the immigrants, employers are facing both legal and workforce diversity issues. The authors also state that in countries with growing native workforces, such as China and India, succession planning is crucial (p. 290). Mandi (2008) explains that issues relating to succession planning can stem from various aspects. Effective succession planning involves the identification and selection of future key leaders, however, if there are no suitable candidates for leadership within the organisation, that poses another problem (p. 88). Organisations must have a formal and structured succession planning framework to ensure the success of this process. Without a formal and structured framework, organisations are sure to meet failure. Many organisations today, especially the smaller establishments, may not see the succession planning as mission critical until a leadership crises hits them. However, succession planning does not always guarantee success for the organisation, however, it can set the organisation on the right path to success. Achieving that success is altogether another aspect to consider and analyse. 1.4 How To Effectively Conduct Succession Planning According to an article in The Star (30 October 2012), change can be traumatic. Large organisations, small businesses, families and even governments are at their most vulnerable during a leadership transition. In many cases, the moment a new CEO takes up the reins, there will be issues, regardless of how competent or experienced the new leaders is on paper. The article suggests 6 critical steps to kick-start succession planning within the organisation: Align the board and top management with the organisations business strategy and map out short-term, mid-term and long-term wins. It defeats the purpose of identifying new leadership candidates to lead the organisation into the future if the future itself is not clear. Build leadership profiles. Identify the attributes needed to help the company achieve its corporate goals. Identify the ideal skills needed and analyse the boards or top managements vision of the ideal CEO in the next five to ten years. Identify high potential talent. Find people within the organisation and externally, who have leadership potential and match them to the ideal vision of the corporate leadership. Develop talent. Have clear cut developmental plans for high-potential leadership candidates, so as to groom these candidates to take on the intended leadership roles within the organisation. Identify their areas of weakness or inexperience and device structured plans to address these areas and provide them with opportunities for more exposure within the organisation. This might mean giving them the opportunity for hands-on experience in management positions that they have never dealt with previously, sending them on overseas assignments, improving their technical skills and business acumen and even shadowing a member of senior management to learn the ropes. Coach high potential candidates. Management succession candidates should receive one-on-one sessions with high level executives to learn more about top management functions and how to manage problems. Internal mentoring is a powerful tool and is incredibly valuable. External executive coaching is also an excellent way to learn new and innovative techniques from other successful leaders. Transfer knowledge. It is crucial for succession planning to establish mechanisms that maintain succession planning despite board or management turnover. The succession planning momentum must be maintained regardless of the changes happening within the organisation. Only then can succession planning be effectively administered within the organisation. Close monitoring of candidates progress. Succession candidates must be closely monitored with regard to their progress and development. A candidate chosen today may not be suitable anymore after a one-year period. Candidates must be evaluated periodically on their current suitability for potential leadership positions in the future. According to Durai (2010), prerequisites for successful succession planning include the following (p. 246); Complete support and patronage from top management. The organisation must periodically review the list of critical positions within the organisation and bring them under the succession planning programme. Whilst determining HR strategies for training and development, the succession planning requirements must be taken into account. The knowledge, skills and capabilities of employees must be developed on a sustained basis. A proper mechanism must be established to provide constant feedback to the potential successors about their performance and progress. The organisation needs to adopt a strategic and holistic approach to succession planning as well as the development of its leadership. 1.5 Conclusion Many organisations realise the importance of succession planning and have great plans to support this idea. However well these plans may have been crafted, there may be hitches in them that need to be addressed. According to Durai (2010), these impediments may include the following (p. 246): Lack of criteria for the identification of the successor Organisations must set clear-cut criteria for the selection of potential succession candidates. This will outline an unbiased framework for the selection of eligible and capable candidates. Existence of traditional succession planning systems Many traditional succession planning systems entail the selection of succession candidates to replace specific individuals instead of the position. This kind of system can often end-up with the identification of a few subordinates by the senior managers for inclusion in the succession planning programme. The organisation should instead identify key positions to be included in the succession planning programme. Only then it should develop a pool of high-potential candidates for inclusion in the succession planning process. Inaccurate diagnosis of development requirements There are many cases where organisations make a wrong assessment of skills requirements of potential candidates. When skills requirements are misjudged, it can lead to the inaccurate selection of training and development approaches as well as performance evaluation methods. Therefore it is crucial for organisations to engage proven methods to identify skills and knowledge requirements for its succession planning candidates. Insufficient emphasis on interpersonal skills requirements Leaders should have good interpersonal and team-building skills that can help them engage employees. Therefore, succession planning candidates for leadership positions must be evaluated on their ability to engage people within the organisation. Often this is not properly evaluated leaving gaps on communication, motivation and socialisation skills for potential candidates. Lack of sufficient and timely sharing of feedback The lack of feedback and guidance towards a succession candidate can drive the successor out of the organisation due to frustration and a lack of purpose. Therefore it is importance for potential candidates to know that they are in the succession planning line for leadership positions in order for them to be well-aligned with HRs plans. Lack of follow-up actions In many organisations, succession planning often remains in the background without clear-cut follow-up plans and actions. In these organisations, management fails at taking succession planning to its logical end, resulting in the chosen candidates for succession being left in limbo. This speaks about bad planning and implementation for succession planning within the organisation. Absence of managerial initiative and support Management initiative and support are crucial to the success of succession planning. Therefore it is important for HR to educate management on the benefits of succession planning so that management can support this concept on a sustained basis. Psychological effects and insecurity of superiors It is quite common for managers to feel threatened when succession planning is done for their positions as they see it to be an end of their own career. In cases like this, an insecure superior may display disinterest and even apathy in sharing his skills and knowledge with potential candidates. To address this, top management must enlighten managers about the purpose surrounding the succession planning framework and dispel apprehensions about the programme. QUESTION 2: COMPETENCY-BASED PAY 2.1 What is Competency-based Pay? Lawrence Kleinmans article on Human Resource Management (HRM) offers a broad perspective of human resource management. The article suggests that human resource has gone beyond just hiring and paying employees. Instead, he states that HRM encompasses a whole paradigm of human capital management with many facets, one of which includes the strategic intent behind an employees pay scale. Traditionally, wages have always been determined by the assigned job of an employee. However, in todays human resource management, many organisations are adopting the approach of competency-based pay. According to Caruth and Handlogten (2001), competency-based pay is a salary structure whereby workers are paid not simply for the job they may be doing presently , but on the basis of the total number of jobs they are able to perform or on the basis of the depth of knowledge they have acquired (p. 146). Another explanation of competency-based pay by Baldwin (2003) states that employees value depends on what they can do, based on their respective competencies. The more an employee is able to do, the more the organisation can expect and the greater the individuals value (p. 101). The author states that competency-based pay stresses importance on the competency of an employee (p. 101). According to Robbins, Odendaal and Roodt (2003), competency-based pay is another alternative to job-based pay. Instead of having an individuals job title define his or her pay, competency-based pay sets pay levels on the basis of how much an employee can do and how many skills the employee has (p. 161). The United Kingdoms Local Government Employers (excerpt from www.lge.gov.uk ) define competency-based pay as a system that rewards individuals who positively contribute to the overall values and objectives of the organisation basically meaning, rewarding the way people work and not just acknowledging their delivery capabilities. Another definition to consider is one by Jackson, Schuler and Werner (), who explain that a competency-based pay structure is associated with the skills of individuals, whereby pay rates are reflect the value assigned to the demonstrated skills of employees and not the value affixed to their job or task (p. 383). In article by Sriyan De Silva (1998) for the International Labour Office, competency-based pay or skill-based pay refers to a pay system which is linked to the depth of skills an employee acquires and applies. De Silvafurther adds that competency-based pay is a person-based pay system and not a job-based pay system. It rewards an employee for what the employee is worth it rewards a broad range of skills which encourages the employee to be multi-skilled and flexible (excerpt from http://www.ilo.org ). 2.2 Why Adopt A Competency-based Pay Scheme? Caruth and Handlogten (2001) suggest that the competency-based pay schemes are a result of organisational downsizing and restructuring. As organisations become leaner and more cost conscious, it is crucial for employees to be able to perform multiple tasks. (p. 146). Kusluvan (2003) states that competency-based pay systems motivate employees to develop and apply their agility and initiative when performing their duties or servicing customers (p. 795). This is a kind of incentive to draw more hidden talents out of employees and harness their hidden potential. In todays materialistic world, as much as it may sound decadent, money is the highest motivating factor for workers. Employees who were once redundant and unproductive can be actually change to be more innovative, contribute more productively and achieve performance excellence by way of monetary incentives. This, of course, may not work for certain groups of people who are not motivated by money however, the majority seems to jum p with the sight of monetary-based incentives. Robbins, Odendaal and Roodt (2003) suggest that competency-based pay offers flexibility from a management perspective (p. 161). Filling vacancies is easier when employee skills are interchangeable this is especially true in todays context whereby organisations are downsizing and cutting the size of their workforces. The authors state that downsized organisations require more generalists as compared to specialists (p. 161). With competency-based pay schemes employers are less likely to encounter self-centeredness amongst employees and the attitude of Its not my job. Another aspect that Robbins, Odendaal and Roodt (2003) raise is that competency-based pay schemes help meet the needs of ambitious employees who confront minimal advancement opportunities (p. 161). These employees are able to increase their earning capacity and knowledge without a promotion in job title or role. Competency-based pay is also able drive performance excellence and improvements. Robbins, Odendaal and Roodt q uote survey of Fortune 1000 companies which found that 60 per cent of those on a competency-based pay scheme indicated higher success rates in increasing organisational performance, whilst only 6 per cent considered this approach unsuccessful (p. 161). In todays business environment, where productivity is number one, competency-based pay systems offer employers an edge to garner more productivity from their employees, resulting in better business performance and more improvements. 2.3 The Advantages and Disadvantages of Competency-based Pay Advantages Disadvantages According to Messmer (2007), competency-based pay schemes create incentives for sustained improved performance (p. 174). This approach appeals to high performers who prefer to be paid on the basis of what they contribute and not on seniority (p. 174). According to Messmer (2007), competencies must be outlined carefully to avoid potential discrimination charges. Messmer also suggests that it may be incompatible with labour contracts associated with unionised workers (p. 174). Competency-based pay schemes helps employees grow in place and provides them the guidance for closing knowledge gaps required for lateral moves within the organisation (Arthur, 2001, p. 67). Competency-based pay schemes can lead to employees being topped-out, which means they can learn all the skills the programme calls for them to learn, which in turn will frustrate employees after they have become challenged by an environment of learning, growth and continual pay raises (Robbins, 2003, p. 179). It reduces the need for promotion in order to earn higher wages and offers employees the opportunity earn higher wages through skills enhancement (DeSilva, 1998, www.ilo.org ). Competency-based pay schemes do not address the level of performance, instead it only deals with whether an employee can perform the skill (Robbins, 2003, p. 179). The broadening of skills results in employees developing a better perspective of operations in its entirety (DeSilva, 1998, www.ilo.org ). Associating competency to pay requires substantial investments in training and development facilities as well as competence assessment systems, in order to provide all employees the opportunity to increase competency and pay levels (White, Druker, 2000, p. 88). Competency-based pay schemes break down narrow job classifications and enlarges job roles (DeSilva, 1998, www.ilo.org ). Can be tedious and challenging to manage as pay has to be constantly calculated based on the set formula and criteria. 2.4 How To Conduct An Effective Competency-based Pay Scheme For Middle Managers in the Marketing Department It is crucial for an organisation to constantly evaluate and review their total pay structure in order to remain relevant in the ever-evolving business environment and to retain critical talents. In order to drive performance and maximise value, it is crucial to remunerate employees based on their competence levels, skills sets, capabilities, contributions and result-based performance. Competency-based Pay for Campaps Middle Management This study will analyse competency-based pay scheme to be implementedforCheeWah Corporation Berhad a stationary solutions provider in Malaysia operating with the brand name Campap (excerpt from www.campap.com). The company has outlets located in major cities in Malaysia and has a marketing department comprising of 55 employees. The marketing department comprises the following organisational structure: Diagram 2.1: CheeWah Corporations Marketing Department Organisation Chart In the case of CheeWah, the competency-based pay scheme will be introduced first to middle managers in the marketing department, which are the Senior Marketing Managers. The competency-based pay scheme will need to take into account the companys vision which is We aspire to be the LEADING supplier that commits to meet and exceed our customers expectations (excerpt from www.campap.com ). Their human resource management is aligned around the theme Developing our people to drive corporate growth. Before this study delves into CheeWahs competency-based pay model, other pay models will be discussed for comparison. Competency-based Pay Models Kusluvan (2003) describes a competency-based pay model whereby it is a process identical to a selection strategy where traits most valued by the organisation are identified and ways to embed these traits into the employees competencies and performance goals are derived (p. 795). Heneman (2002) describes a competency-based pay model whereby compensation is adjusted when an employee demonstrates with knowledge and performance tests that he or she has the required skills to reach the next level (p. 160). Wright (2004) describes a competency-based pay model that takes into account innovation, quality enhancement and cost reduction aside from the employees skills and competencies (p. 4). In the case of CheeWah, the competency-based pay model for middle managers will take the following approach: CheeWah Corporations Competency-based Pay Model for the Marketing Department Organisational Vision, Business Strategy and Human Resource Mandate Required Employee Behaviour HR and Reward Policies Industry Leadership Proactive and constantly seeking to expand their areas of coverage. Regular association and engagement with industry leaders and leadership platforms. Pay raise based on annual achievements of industry engagement opportunities. Financial remuneration for each leadership platform penetrated on an annual basis. Corporate Growth The ability to establish new business opportunities and penetrate new markets. A 2 percent commission on each new business gained and 10% increment per annum for the total number of new business gained per annum. The opportunity for an all-paid overseas trip for the achievement of industry awards for performance excellence. Cost Reduction/ Minimisation The strategic ability t

Study on Credit Risk and Credit Risk Management

Study on Credit Risk and Credit Risk Management Abstract The purpose of this research is to make clear the importance of credit risk management and how the firm can get the benefit by using different methodologies by different actions of credit risk management. Introduction Many institutions such as banking and enterprises are well-known to its clever usage of financial sources. The correct management of the financial sources and attributes makes it spirited for the organization to tolerate the different economic uncertainties and threats. In addition, the strategy on managing the risks can be the most attractive strategy of the company that cannot be deteriorated but can be passed through the next generations of other managers. Background and problem statement The evaluation of risks can be the fundamental strategy in all of the organizations. Through the assessment of the risks, the organization can create a subjective decision and well plan. This all can help the accomplishment draw out from the process. In the classification of various system that are concerned in the assessing and managing the risk, the credit risk management is an rising activity that lies within the organization. Many researches attempted to answer the remuneration of the credit management within the organization. However, it remained indistinct for the management on how to manage and the principle of the credit risk management. Literature Review The credit risk management is accepted among the banks and other financial resources. The main purpose of the credit risk management is to minimize or diminish the possessions of the non-performing loans came from the consumers. The procedures and processes of the banks and their affiliates create a great collision in the flow of the financial resources. However, various economic reservations, international markets, or financial constraints can cause the financial status to be unbalanced. Aside from the financial deficiencies, the other causes of the financial constraints are the lack of buoyancy among the financial market to provide external help for the needed consumers, lack of potential to gather the information of the consumers, and the lack of push to have an forceful debt collecting. The non-performing loans can definitely cause too much stagnation of the financial sources. To provide the credit risk management efficiently, the banks and other financial institutions should ass es the reliability of the loaners. In terms of an enterprise, the estimation of their credit portfolio is enough to provide a system that continuously promotes the reviewing the risks and the ability of the business enterprise to pay. It is very common that the banking process restrict the occurrence of the risks during every transaction; for this reason, the bank managers should also rely on the effectiveness of the imposed regulations to predict the future risks.   From the different financial indicators, the position of the institution on the market disappointment are still depends on the internal process and the actions of the people. The economic theory in banking encompasses the interest and income theory in which is the basis of the cash flow approach in bank lending (Akperan, 2005). Credit risk management needs to be a vigorous process that enables the banks to proactively manage the loan portfolios to minimize the losses and earn an acceptable level of return to its shareholders. The importance of the credit risk management is recognized by banks for it can establish the standards of process, segregation of duties and responsibilities such in policies and procedures sanctioned by the banks (Focus Group, 2007). Credit risks appear in banking institution because of the uncertainties plagued the financial system. The uncertainties remain a major challenge in country. Still, the major approaches applied by the banks are the continuing efforts on research and close monitoring. Banks believe that the research and monitoring are the key sources of uncertainties like data generating institutions and the treasury (Uchendu, 2009). The market structure is important in banking for it influences the competitiveness of the banking system and companies to access to funding or credit investment. The economic growth affects the structure and development of the banking system. In addition, the vast knowledge in risk assessment and managerial approach is recognized as part of the development. Moreover, because the banks and the processes are highly regulated, it became very useful in assessing the effects or impact of the credit risk management in the banks and even in other financial sources (Gonzalez, 2009 ). Research Objectives The first objective of the study is to convey the purpose as well as the center of the credit risk management. Second is to determine the different actions of the management or the managers regarding the credit risk management. Through this two interconnected objectives, the study can ascertain its common ground in discussing the essential parts of the credit risk management. The credit risk management is admired among the banks and other financial resources. The main purpose of the credit risk management is to reduce or diminish the possessions of the non-performing loans came from the consumers. Credit risk is an investors risk of loss arising from a borrower who does not make payments as promised. Such an event is known as a default. The other term for credit risk is default risk. Investor losses include lost principal and interest, decreased cash flow, and increased collection costs, which arise in a number of circumstances. Consumer does not make a payment due on a mortgage loan, credit card, line of credit, or other loan .Business does not make a payment due on a mortgage, credit card, line of credit, or other loan .A business or consumer does not pay a trade invoice when due .A business does not pay an employees earned salaries and wages when due A business or government bond issuer doesnt make a payment on coupon or principal payment when due .An insolvent insurance company does not pay a policy obligations .An insolvent bank wont return funds to a depositor .A government grants bankruptcy fortification an insolvent consumer or business .There are three types of credit risk. Default risk Credit spread risk Many companies use credit to pay for short-term supplies or to finance long-term growth. While most companies view loans and credit lines as a important part of business, those who understand how to alleviate credit risk are far more likely to succeed. This is because those lending money are viewing at credit risk when issuing any type of loan or credit line. To lessen credit risk a company wants to be sure it is not seeking more credit than it can credibly repay in a timely fashion. An emerging company may not want to grow in phases that allow it to recoup some of the debt spent. Companies can increase their credit rating, thus mitigate their credit risk, by starting to set up credit long before they need it. This can be adept with vendor credits, small business credit cards and loans. Your average balances in your bank accounts also help set up a lower credit risk. After all, if you have had an account for a long time with money in it to wrap debts and obligations, you are seen as credit-worthy. Mitigating credit risk Lenders mitigate credit risk by using several methods: Risk-based pricing: The Lenders generally charge a higher interest rate to borrowers, who are more likely to default, a term called risk-based pricing. A lender considers factors related to the loan such as loan purpose, credit rating, and loan-to-value ratio and estimates the effect on yield (credit spread). Covenants: Lenders may write provisions on the borrower, called covenants, into loan agreements: Periodically report its financial state. Cease from paying dividends, repurchasing shares, borrowing further, or other specific, voluntary actions that negatively affect the companys financial position Repay the loan in full, when the lender request, in certain events such as changes in the borrowers debt-to-equity ratio or interest coverage ratio Credit insurance and credit derivatives: The Lenders and bond holders may evade their credit risk by purchasing credit insurance or credit derivatives. These contracts move the risk from the lender to the seller (insurer) in exchange for payment. The common credit derivative is the credit default swap. Tightening: Lenders can overcome credit risk by reducing the amount of credit extended, either in total or to certain borrowers. For example, a distributor selling its products to a disturb retailer may attempt to lessen credit risk by reducing payment terms from net 30 to net 15. Diversification: Lenders to a small number of borrowers (or kinds of borrower) face a high degree of random credit risk, called concentration risk. Lenders lessen this risk by diversifying the borrower pool. Deposit insurance: Many governments set up deposit insurance to guarantee bank deposits of insolvent banks. Such protection discourages the consumers from withdrawing money when a bank is becoming insolvent, to shun a bank run, and motivate consumers to holding their savings in the banking system instead of in cash. Credit risk is risk due to uncertainty in a counterpartys (also called an obligors or credits) capability to meet its obligations. Because there are many types of counterparties—from individuals to partners and sovereign governments—and many different types of condition—from auto loans to derivatives transactions—credit risk takes many forms. organizations manage it in different ways. In evaluating credit risk from a single counterparty, an institution must consider three Default probability: What is the probability that the counterparty will default on its obligation either over the life of the compulsion or over some specified horizon, such as a year? Calculated for a one-year prospect, this may be called the expected default frequency. Credit exposure: In the experience of a default, how large will the outstanding obligation be when the default occurs? Recovery rate: In the event of a default, what portion of the exposure may be recovered through bankruptcy actions or some other form of settlement? When we speak of the credit quality of a requirement, this refers generally to the counterpartys capability to perform on that obligation. This encompasses both the obligations default probability and estimated recovery rate. To place credit exposure and credit quality in perception, recall that every risk include two elements: exposure and uncertainty. For credit risk, credit exposure represents the former, and credit quality represents the latter. Conclusion: From the above mentioned description it has cleared that credit risk management is the important aspect of any organization. If the management keeps in mind the methodologies and techniques mention in this study paper it can overcome this risk and can increase the value of the business.

Wednesday, November 13, 2019

E.E. Cummings: The Birth of Modern Poetry Essay -- Poetry Analysis

â€Å"The greatest poets are those with memories so great that they extend beyond their strongest experiences to their minutest observations of people and things far outside their own self-centeredness.† This quote said by Stephen Spender depicts a great poet as someone who utilizes their past observations to increase their knowledge about people, nature, love, and life. Like a great poet, E.E. Cummings employed his past experiences in his poetry and life. Known as one of the preeminent poets of the 20th century, E.E. Cummings poetry has received an array of both positive and negative criticism. Nonetheless, Cummings’s poetry has inspired many poets and authors with his liberal views on love, nature, and religion along with his modern writing style. Although many criticized his contemporary style, E.E. Cummings modernized the traditional views of love, nature, and religion in poetry by emphasizing his contemporary beliefs, while incorporating a uniquely modern w riting style. As a strong advocate of individualism, E.E. Cummings ignored biased critics throughout his career and developed a contemporary writing style. From the beginning of his career, Cummings emphasized imagination and individuality in his poetry. He believed that humans had the ability to think for themselves and imagine beyond what was rational (Kidder 7). In believing so, E.E. Cummings refused to take advice or criticism on his lifestyle and poetry. Cummings also disliked organization, but rather believed in allowing the mind to imagine (Thompson 4). He saw imagination as the greatest tool for writing and rarely threw out bad poems because he did not see the waste basket as his ally (Webster 4). He firmly believed that with imagination anything was possible.... ...ury Poetry. New York: Wiley-Blackwel, 2003. Thompson, William E. "Intensity: An Essential Element in e. e. cummings' Aesthetic Theory and Practice." University of Windsor Review. 16.2 (Spring-Summer 1982): 18-33. Rpt. in Twentieth-Century Literary Criticism. Ed. Janet Witalec. Vol. 137. Detroit: Gale, 2003. 18-33. Literature Resource Center. Gale. OLD TAPPAN HIGH SCHOOL. 16 Mar. 2015. . Webster, Michael. "E. E. Cummings: Romantic Ideology and Technique." Reading Visual Poetry After Futurism: Marinetti, Apollinaire, Schwitters, Cummings. New York: Peter Lang, 1995. 111-140. Rpt. in Twentieth-Century Literary Criticism. Ed. Janet Witalec. Vol. 137. Detroit: Gale, 2003. 111-140. Literature Resource Center. Gale. OLD TAPPAN HIGH SCHOOL. 16 Mar. 2015. .

Prayer in school :: essays research papers

Since the Engel decision in 1962, religious advocates have been assailing the Supreme Court for "taking God out of the classroom." In an effort to reverse this trend, conservative religious groups have been fighting for the passage of a school prayer amendment to gain greater leeway for religious activities in schools. Clearly not all school prayer advocates agree as to what types of religious activities are permissible in public schools and why, but the following are some of the most frequently heard arguments. (1) Our Government is based on Religious Principles School prayer proponents maintain the United States was established as a Christian nation with religion playing a central role in guiding the nation’s destiny. Supporters of religion in school claim the founding fathers never intended a separation of church and state, evidenced by the fact that the phrase "separation of church and state" is not in the Constitution. Signs of a church/state union can be seen regularly: Congress prays at the opening of every session; federal officials take their oaths upon a Bible; "In God we trust" is stamped on our national currency; and Moses and the Ten Commandments are featured prominently in the Supreme Court building. If religion is accepted in these government institutions, they reason, it should not be stopped at the schoolhouse door. (2) The Free Exercise Clause Protects School Prayer Despite decades of Supreme Court rulings, many religious advocates claim the Constitution protects school prayer. According to their interpretation, the First Amendment does not separate God and government, but actually encourages religion. Many supporters believe the Establishment Clause was intended to bar only the establishment of a state religion. They narrowly interpret the Free Exercise Clause as requiring the government to accommodate religious observances in public life. Many advocates believe the restriction on graduation and student-led school prayers violates their First Amendment right to practice religion without government interference.

Sunday, November 10, 2019

America: The Land of “Equal” Opportunity Essay

Although the American society that we live in today prides itself on equal job opportunity and progression, it is easy to see behind the deceiving faà §ade. Women have always been viewed as the less dominant gender due to the patriarchy that is provided by society. In fact, women are still making a measly seventy-seven cents for every dollar that a man makes, and the gap is even worse for African-American or Latina women working (Huffington). Even with women having a greater entry into the workforce in recent years, their pay is still considerably less than a man’s (Conley 312). Due to this suffering pay disparity, the women in the workplace are forced to suffer through many barriers that are not thought of and are unheard of by men. It is difficult to break through the glass ceiling of the corporate world for women to get to a higher job title, they are placed into the category of â€Å"caregiver† for children, and finally they are faced with sexual harassment in the workplace. Due to these unfair blockages within the corporate world, the women in today’s society face the harsh inequality provided by the workforce. The glass ceiling of the corporate world is thought of to be a main barrier within the inequality of gender in today’s society. This invisible limit on women’s climb up the corporate ladder poses as a very difficult hurdle to dodge towards success in the work place (Conley 315). If a person simply cannot go any further in their job, why would they bother to put forth more effort? In order for a company to succeed, it is necessary for its employers to go above and beyond what they are expected to do; when a person feels that they no longer must do this, however, the bare minimum will most likely be expected of these people. Women make up 46.5 percent of the workforce in America, yet they only occupy less than 8 percent of the head corporate positions (The Conundrum). This number is astounding based on the percentage of women that make up the workforce in total, and is frustrating for the women who are well-equipped for the job at hand. If this glass ceiling barrier were to be broken, the workforce would have a more equal balance of corporate heads, and would most likely have a more productive workforce because of this. With everyone is striving to make it to the top, all will be going further than what is expected of them. Based on the glass ceiling provided to women in the workforce, a barrier is  created that must be broken through to improve productivity and equality within the work place. Women in society today are seen as the â€Å"housewives†. Due to the gender roles provided by society from birth, women are taught to behave and act a certain way within the house. They are thought of as child bearers, cooks, caregivers, and the person who is responsible for other chores around the house; Arlie Hochschild calls this effect the second shift (Conley 469). Due to this effect on society, women may be seen as less expected to work full-time, when in fact, only 3 percent of women managers said that family responsibilities were a main obstacle in their career (Empowering Women). With women being placed into a set category and role, this causes men to see them as weak and unable to work full-time. This barrier could be broken by a more forward way of thinking towards women’s roles in society. There are plenty of women who do not fit the role of housewife, and by placing them into this role, they are being unrightfully judged. With a more forward way of thinking , this issue of set role can be solved within the work place. Sexual harassment is another barrier which women must face in the work force that most men would not. This harassment comes as an illegal discrimination in many different forms that is intended to make women feel uncomfortable and not welcome (Conley 313). The act of harassment can make women feel very unequal and strange in the workplace, discouraging them from climbing up the corporate ladder. Men do this to subordinate the women in the society, giving them more power, and in most cases they are successful in doing so. In fact, 90 percent of large corporations reported sexual harassment complaints by women employees (Empowering Women). If sexual harassment were more discouraged in the work place, women would feel more confident in climbing up the social ladder without the constant fear of sexual ridicule. With the banning of sexual harassment, the work place would be a safer and more equal environment to work in. American society today still sadly portrays unequal opportunity between genders. Due to the corporate glass ceiling, women being seen as housewives, and sexual harassment in the work place, this inequality will continue to occur for women. These barriers are preventing women from climbing the corporate ladder, which blocks equality in the workforce. If my suggestion to destroy all of these barriers were to go through, American society today would have equal opportunity for both genders in the corporate  world. With equal opportunity, there will be more productivity and greater overall acceptance in the work place. Works Cited â€Å"Empowering Women in Business – The Glass Ceiling – Feminist Majority Foundation.†Empowering Women in Business – The Glass Ceiling – Feminist Majority Foundation. Feminist Majority Foundation, n.d. Web. 19 Nov. 2013. Huffington, Christina. â€Å"Women And Equal Pay: Wage Gap Still Intact, Study Shows.† The Huffington Post. TheHuffingtonPost.com, 09 Apr. 2013. Web. 19 Nov. 2013. â€Å"The Conundrum of the Glass Ceiling.† Economist.com. The Economist Newspaper Limited, 21 July 2005. Web. 19 Nov. 2013.

Don’t Blame the Eater Essay

Most people know what they are doing by eating fast food, unhealthy food. People must understand and make it clear what is most important for them and for their kids. They have to keep them safe and think about future life. But what happened with personal responsibility? What about government responsibility? I think this is a big problem today and it needs to be fixed. The solving of this problem will help people to feel better and live longer. In fact, I believe, the people of America and government have to be responsible to try to fix it. Everybody loves to eat tasty food, don’t you or who doesn’t? When I was a kid, I would come from school and could smell my mom’s delicious pies. I even remember their pleasant fruit smell. There were so many kinds of them; they were with blueberries, strawberries, bananas and many others. But even of that time, I also remember, my mom always was trying to buy healthy and fresh food. Every morning she made me a snack with a lot of fruits, vegetables and also put a small chocolate candy for my dessert in my backpack. On the other hand, not all parents think about what their kids will eat during the day. All grownups are busy and they just giver their kids some money to go eat on their own. Children are buying what they want, for example, candy, chocolate and burgers, what is not healthy again. I think, this is biggest mistake of parents, because kids don’t care about food, they don’t have enough knowledge to understand, what is good, what is bad and not healthy for them. So with time, it could be dangerous for their lives, when people are not trying to fix this problem. At the same time, to consider unhealthy eating isn’t just parent’s problem or mistake, how I said before. It is all of American culture of eating and State in general. It’s exactly government problem too. Just think what you are watching on TV in the advertisements. All the time, every day, there are so many choices of fast food, fried chicken or pizza. The government needs to balance this problem, find the alternative and escape from it by right decision. If you decide to buy a grapefruit for your lunch, you probably could not find it in the city. Everywhere are fast food restaurants. For example, one week ago I went to the city and I was so hungry, I was trying to find a good quick food, but I couldn’t, so I got burger from McDonald’s. What does it mean? All these reasons have to be fixed or eliminated by government by putting more information to the people about what they exactly eat, how the food was prepared and etc. People need to watch more advertisements about healthy products and know how low-fat food will help them in their lives. Of cause, some people will not agree with me, but I don’t want to give my kids to be sick from unhealthy fat food at the future. People have to teach their kids from the beginning, try to explain them, what is better to eat every day. If this does not make, next generation will be in much more danger. Very often someone could think eating fast food is not a big problem either. However, I don’t agree and I want to be healthy person and it’s true that something needs to be change. The government has to solve that problem by opening more stores with a lot of different kinds of food. For example, it could be small fruits and vegetables groceries with many kinds of salads, whole wheat toasts, vegetables and fresh juices, where each person can buy his lunch. Also the government has to help people to make it easier and quicker by the right way. But does government really do it? It is a good question. The administration of America does not pay enough attention to the health of Americans. The Ministers often think more about benefits of sales fast food, because it is working very well, rather than on changes in the diet of citizens. This huge problem remains unsolved and will remain so, if people do not want to eat healthy food and do not want to be healthy too. It’s a ll depends on the morality of every person, as each of us builds his own health and own life.