FORDS AND NIXONS LIFE Essay Example For Students

Passages AND NIXONS LIFE Essay I. Introduccion-The reason for this paper is to delineate the diferences and likenesses of expresidents Richard M. Nixon andGerald R. Portage. 1913 (July 14) Born In Omaha, Nebr. 1935 Gradueted from the University of Michigan. 1942-1946 Served in the U.S Navy during World War II. 1948 (Oct. 15) Married Elizabeth (Betty) Bloomer. 1948 Elected to the first of 13 progressive terms in the U.S. 1965 Became House minority pioneer. 1973 (Dec. 6) Became Vice President of the United States1974(Aug. 9) Succed to the administration. 1976 Lost presidential political decision to James E. Carter, Jr. III. Significant Dates in Nixons life1913 ( January 9) Born in Yorba Linda , Calif. Hitched Thelma Catharine (Pat) Ryan. Served in the U.S. Naval force durig World War II. Chosen for the House of U.S. Place of Representatives. Chosen Vice - President of the Unites Srtates. Vanquished for Presidency by John K. Kennedy. Crushed for legislative head of California (Pat ) Brown. Chosen President of the United States. IV.Ford s Career in Congress Ford picked up notoriety as a dedicated Republican and diligent employee during his initial terms in Congress. V Nixons Careerin CongressNixon was given minimal possibility of crushing Voorhis a democrat 9 veteran campaigner). From the outset , Voorhis overlooked his generally unkown rival, however Nixons aptitudes in discussing helped him win the political decision. VI. Sumary Both presidents Nixon and Ford Served in the US Navy diring World War II this played a key factor in their lifes. Portage , was the main Vice - President of the United States to become President upon the abdication of a CEO Riard M Nixon. Nixon was the main President of the United States ever to left office. List of sources:

I think that pornography is harmful to a couples relationship Essay

I believe that sex entertainment is destructive to a couples relationship - Essay Example In today’s universe of innovation where everything has gone digital, all sight and sound including sex entertainment is accessible on the web effectively open far and wide and has become a vital part of people’s sexual lives particularly youths. I would firmly prescribe all couples to acknowledge this thought to be a sound piece of their connections and, if there should arise an occurrence of any distinction of conclusions, to examine straightforwardly about this plan and check out it to encounter the productive result it creates between them. Through ages, reviews have been led to decide if sex entertainment is hurtful for a relationship and what impacts it produces for a couple. Thusly, specialists have distinguished hardly any settled realities about the eventual outcomes of watching erotic entertainment by a couple, exclusively or together. On the off chance that we find regarding altogether watching it, we run over two significant focal points it gives as clarified in a talk by Mr. Chen: It adds to the learning and sexual information on couple. They can teach by recognizing new energizing exercises and approaches to genuinely mate with one’s accomplice. They can realize better approaches to invigorate the accomplice and about the dos and don’ts during sex. It likewise adds to their science by improving the closeness and rapture between them in bed. Couples will in general get exhausted soon because of redundancy of comparative exercises in each meeting. Erotic entertainment makes them anticipate their customary intercourse meetings where they can give new things as observed a shot video, making better rush and varieties (Chen, 14 March 2013). Assortment in sexual relationship has an essential influence for practically all couples. As indicated by Crooks and Baur, numerous people have a confusion that energy and feelings of excitement blended in their sexual encounters will consistently remain equivalent to in introductory stage. Before long, they look for options as their redeeming quality to pick up fulfillment which they can't get any longer from their own relationship (Crooks and Baur, pp. 201). This obliterates a relationship totally and may eventually bring about separation out of requirement for change! This is the place the fundamental job of sex entertainment clears in, making new vibes of delights and arousing quality. It is significant for couple to permit its inclusion in their sexual lives and examine about it when the need emerges. Talking on an individual level, it is additionally important to have individual space to watch sex entertainment infrequently when the person in question feels also overdosed with intercourse. Likewise, as per an article gave in Elia’s book, examines demonstrated that people, particularly men, guarantee that, motivated from strategies utilized in obscene substance, they found new techniques to delight themselves and guide their accomplices to do likewise duri ng sex to invigorate them better. The hankering to ad lib and to take a stab at something else got satisfied for a large portion of the men by entertaining themselves with self-joy while watching erotic entertainment (Elia, John and Albert, pp. 283). Sexual delights are the essential objective for any private action did by a couple. In his book, â€Å"Sex Industry: Porn and Prostitution† (Pp. 269-273), proposes that self-delights while watching sex entertainment rouses people to attempt these exercises with their accomplices too. They partner engaging in sexual relations with their accomplices to the prize of getting feelings of excitement and eventually climax. There is a chance of upgrade of enthusiastic connections in a couple through accomplishing climaxes which thusly are guided through training scholarly by means of erotic entertainment. In this way, it may end up being useful to find oneself through self-joy practices during erotic entertainment and

Leadership The 9 Biggest Mistakes a Leader Can Make

Leadership The 9 Biggest Mistakes a Leader Can Make As part of an ActionCOACH work day last month, we viewed an enlightening video  on leadership mistakes put together by Harvard Business Publishing. Nine business leaders were asked what they considered the biggest mistake a leader can make. Their answers are very revealing. The video was created in August 2010, and when I think back to the news about business and government leaders over the past seven years, I can line up those successes and failures to one or more of the insights below. I can also see where I personally am succeeding and where I can use some improvement. Most of these leadership mistakes can be classified under the category of either hubris/arrogance or lack of integrity. I have summarized them for you here (Stylistic note: I chose to use the words and phraseology of each leader rather than be completely consistent with the structure of each answer. I hope you’ll forgive me this one time!) Which of these leadership errors speaks most to you? Bill George, Harvard Business School The biggest mistake you can make as a leader is to put your own self-interest in front of the interest of the organization you run. If you’re looking out for your own money, power, fame, and glory, that’s wrong. Leaders have a deep responsibility to all constituencies they represent â€" customers, employees, shareholders, etc. â€" to carry that responsibility out. Leadership is not about your own fame and glory. It’s a responsibility. Evan Wittenburg, Head of Global Leadership Development, Google, Inc. Betraying trust. If you break that one, nothing else will matter. Ellen Langer, Professor, Harvard University Being certain. When we confuse the stability of our mindset with the stability of the underlying phenomenon, we act as if we know. When you think you know, you don’t pay any attention any longer. Uncertainty should be the rule. Exploit the power in uncertainty. Andrew Pettigrew, Professor, Said Business School, University of Oxford Not living up to their values. Leaders who espouse values but don’t deliver them are very often found out, and rapidly turned over. Gianpiero Petriglieri, Affiliate Professor of Organizational Behavior, INSEAD Don’t be so overly enamored with your own vision that you lose capacity for self-doubt. Passion and purpose (positive traits) can sometimes turn into obsession. You become vulnerable if you lose the capacity to see consequences, to look at potential downfalls, other ways things can be, or voices you might be disenfranchising. Carl Sloane, Professor Emeritus, Harvard Business School Personal arrogance/hubris. Confusing the size or success of the enterprise with the individual’s persona. That creates greater social distance and power distance, which is demotivating for most organizations and people, and which increases the chance of making big mistakes. Jonathan Doochin, Leadership Institute at Harvard College Acting too fast. Executing before thinking through the issue. In corporate America and often government, you’re often drinking through a fire hose of issues, with little time to step back, evaluate, and reenter with vision. The best thing a leader can do is take a step back with their management team, seek advice, think it through, then move back to execution. This solves issues in the short term and is also good for long-term strategy. Scott Snook, Professor, Harvard Business School As humans, we’ll accept almost any leadership style as long as it’s consistent. We will sniff out two things: 1) when it’s all about the leader. It has to be about something larger than yourself. 2) not being authentic, consistent, predictable, or in integrity. Our greatest fear is when we have to ask, “Which one (personality) is coming in today?” Like Jekyll and Hyde. As long as there’s consistency, and it’s about something greater than the leader, we’ll respect that leader. Daisy Wademan Dowling, Executive Director, Leadership Development at Morgan Stanley Not being self-reflective. Not reviewing your own behavior, how to develop yourself, and how your behavior affects other people. You must be willing to hold a mirror to yourself and look at what effect your leadership is having on others. The worst leaders bulldoze forward, make mistakes and don’t look back, not learning as they go or being self-aware about how they’re affecting the people around them. While there are many more blunders a leader can make, it seems all of them fall under one of the leadership mistakes identified above. For instance, making a company all about making money, and losing sight of the underlying values is a mistake. I believe it falls under #1, #6, and probably #9 as well. The tendency toward focusing on money over all else is a sign of getting caught up in a game that ultimately is not satisfying to win. Mistakes are bound to be made. Working too hard to please others is also a mistake; it falls under #4 and #8. If you’re not following your inner compass, you won’t be consistent or trustworthy in sticking to your own values. The potential mistakes I want to focus on are consistency and following the values I espouse. Sometimes I am afraid I am being that Jekyll Hyde personality. I write so much about leadership to remind myself how to stay in integrity with my own vision of how I want to lead. I don’t always succeed, but I always do #9 â€" self-reflection! I’d love to hear your stories of your own leadership wins and failures, or how you see the leaders around you have succeeded or made mistakes in the areas above. Please share!

Metric To Metric Conversions Quiz

Fracking For The Future. California Is The Third Largest

Fracking for the Future California is the third largest in fuel consumption on earth, behind the U.S. and all of China, and with this demand needing to be met and a diminishing supply of fossil fuels, comes the rise of a new revolution, natural gas. With the start of the industrial revolution came the beginning of the use of fossil fuels. Thus, making the United States overly dependent on a limited resource that was also harming our environment. Over the past few decade, nations around the world have realized that the finite amount of fossil fuels is coming to an end, and our need for alternative fuel and energy sources is growing. We have experimented with different types of resources, one of them being natural gas. Natural gas has been a†¦show more content†¦Benjamin Sovacool explains in his article that over the period of twelve years, the United States shale gas production increased 24.5 times the amount it produced in 1998. From 0.2 trillion cubic feet to an enormous 4.9 trillion cubic feet. N atural gas is also a huge financial benefit to North America. Before this drastic increase of fracking and natural gas production, the United States imported a clear majority of its oil and energy sources from the Middle East. This caused the middle east to obtain a control over the United States economic situation. For example, the 1979 oil embargo caused by OPEC (organization of petroleum exporting countries). According to Kimberly Amadeo, their decision to increase oil prices by a meager ten percent, caused oil rationing in the United States and worsened the already declining economy at this time. Since the increase in fracking and natural gas production, the U.S. has become decreasingly reliant on imported energy sources. Richard Janson denotes, that the impact of this influx of cheap gas has had many positive impacts on not only the economics of the energy industry, but foreign policy and the United States domestic policy. With the downfall in the need for imports for energy an d the rise of hydraulicShow MoreRelatedIs Fracking A Natural Gas?2865 Words   |  12 Pagespolicies and build a bright future for Americans and reduce energy-caused risks globally (Mark Green, 2014). 1.1 Environmental aspect As fracking is a good process of drilling natural gas, there must be questions like, â€Å"Is natural gas alternative?† â€Å"How long could people keep drilling?† â€Å"Is it environmental friendly?† Actually natural gas is alternative energy and natural form of energy, which can be used to replace traditional fossil fuels like gasoline and diesel (Fracking, 2014a). , The use of naturalRead MoreOil Resources in Canada Essay2659 Words   |  11 Pagesmanufacturing sector. Anthracite coal is a glossy black coal. This coal has the highest heating value out of all the coal types. Anthracite is the hardest coal and is used for home heating and steel production. Canada has large coal deposits and it is their largest most abundant fossil fuel. Canada has all four types of coal which more than 90% of the deposits are located in the western provinces. Canada has an estimated 6.6 billion tons of coal that could be mined. Mining coal in Canada takes place acrossRead Mor eOil Boom in North Dakota5022 Words   |  21 PagesSaskatchewan, and likely many billions more. In recent years, new technology and high prices have made that oil both easier to get at and more valuable to sell. Today the race to pump it out--via a complex process known as hydraulic fracturing or fracking--is running at an Olympic pace. As a result, North Dakota s economy is the hottest in the U.S. Unemployment there was just three per cent in March, the lowest in the country. In neighbouring Montana, where oil exploration has been far more modestRead MoreEvaluating The Economic Impacts Of Pipeline Useage On The Texas10470 Words   |  42 PagesResearch Purposes The goal of every company is to maximize its profit and shareholder value. This goal can be accomplished by several means such as organizing the production so that the company can make profit in the current time frame as well as in the future, raise the company’s rate of return by making investments and increase the productivity of the employees by motivating them and hence ensure profitability. These activities ensure that the goods and services delivered to the customers are of highestRead MoreExxon Mobile Capstone40455 Words   |  162 Pagesimplications. 1 Executive  Summary   Energy is the most fundamental resource that fuels the entire globe. The Energy sector is of international importance and is widely followed by many national and international organizations. ExxonMobil, the world’s largest public company in market capitalization, is the benchmark for companies operating in the Oil Gas Industry. The actions of industry leaders like ExxonMobil are closely watched by the entire global Oil Gas Industry ecosystem. ExxonMobil recently

Effects of religion on children positive or negative Free Essays

The David Family Case Family Theory: In my reading about the structural model I recalled Munich because like myself his first concern was problem focused within the context of the family structure (Goldenberg 2000). â€Å"‘ have always felt that if a child is having constant escalating behaviors of tantrums after the age of four there has to be a problem within the family structure. And so in hearing from therapist of who would many times in the past visit only with children and not the parents of families. We will write a custom essay sample on Effects of religion on children positive or negative? or any similar topic only for you Order Now This would really sound an alarm with me but since I lacked the understanding in the mental field I would asked the question of their knowledge in child development and the family as the root of guiding a child’s first developmental years. I also remember reading about Munchies work and his vast array of experiences for example; Munich his practiced in pediatrics, his time volunteered in the army as a Doctor during Israel’s war in 1948, he was a child psychiatrist in the United States working with families in poverty and those who had multiple problems, disconnected structures and displaced children from the Holocaust. His heart to volunteer and research these problematic issues revealed to me his passion and heart for the family as a unit. In my personal experience as an Early Childhood Specialist working with families with children of trauma I often found myself being approached by clinicians who were working with young children yet lacked to understand the details of the early developmental domains. I wondered if they understood temperament, parenting styles or the developmental milestones like, social/emotional patterns, independence, problem solving or attachment and bonding. Clinicians would see toddlers displaying very angry levels of behavior not recognizing they were frustrated simply because they were delayed in their speech, disengaged with their parents, or in a reign land that developed psychological stresses. So as I reviewed the David case I first observed that the structural of the family system; that being, mom, dad and children who had been interrupted by time the hierarchy currently being the grandparents, and the parental roles. This was the root in the context of this families transaction patterns that needed to be changed according to Munchies major thesis of the structural model (peg. 94). This theory looks into the relationships, the organization of the family structure having to due with family roles, rules within this system, boundaries’ and wholeness. It also emphasizes on the wholeness of the family system, the influence the family hierarchical organization and the interdependent functioning of its subsystem’s for the wellbeing if each individual that consist of the whole family system. In this theory enmeshment is common and the family system is functioning at a dysfunctional level for the lack of boundaries, for inhibiting individual autonomy, and for disruptions in the parental subsystem. This theory reminds me of a sports; for example, baseball in expressing my complete understanding of this theory I will relate it to this sport. In the game of baseball it does consist of organization of each individuals place in order to function successfully as a whole team. The pitcher and the catcher are like the parents in the family. If they lack to understand their roles and that of their team-members then the whole game will be disorganized and interrupted by a loss and results in very angry, frustrated and confused emotions. What to do? What interventions will the coach implement? In my case what will I implement according to my chosen theory? Alignment, Power, and Coalitions: The David family came to therapy due to their enmeshed family. The parents were having problems in their relationships with their seven and eight year old children who were throwing full blown tantrums consistently, some examples of this manifestation where the children hitting their heads on the walls or vomiting also not listening to their parents instructions and expressing anger at their parents by physically kicking them during these escalating behaviors. As Munich puts it,† this alternated the patterns in the Davit’s family structure they went without consideration which caused deviation from any established family rules such as; mandarins’, a lack hierarchy, the interdependent functioning, and the wholeness of the family system (Goldenberg 2000). † The results became the resistance of the children making a healthy family connection with their parents. This is how my back- round training in child development will aid me as a future clinician. If the child lacks to build a trusting and secure relationships with their parents becoming that secure base in order for the child to become a healthy separated individual then a sense of loss and fear will result therefore displaying itself as in the Davit’s hillside’s case. As a therapist I would first look into the family strengths, in this case the David family taking the step to seek out therapy without it being forced upon them due to an outside report such as D. S. S. I would praise them for taking the first step then observe the spousal, parental and siblings subsystems in this family. In observing this at the first session I could recognize that as the mother expressed her emotions the children and father displayed empathy as they all tried to comfort the mother. The father stepped in and gave instructions to the children who followed wrought it revealed that they did have some understanding for father’s hierarchy in this role. This was a psychosomatic family that was enmeshed yet their quick response to comfort the mother here also revealed that they were not disengaged. That showed me that they would be willing to negotiate differences. Within this family it was clear that alignments were off and needed to be put back together by joining its forces by positive activities that engaged in quality time spent. It was the long parental working hours in the Davit’s family that disrupted the emotional and psychological connections that members should make with one another. This was the power that was displaced here and instead because of the work demand was given over to the grandparents which caused stressed in the children producing escalating behaviors towards parents. In my understanding the grandparents where the third party alliances between the parent and children which Munich refers to as the coalitions. The grandparents became the dominant part of this family that detoured the power from the parents as the children cried out for their grandparents rather than parents during a place that seemed foreign to them. This resulted in conflicts that placed added stressed on the family systems. Intervention: The David family needs to be realigned, new boundaries’ must be set in place and reframing must be worked into this family system. I will use the vignette as an example therapy session and how I would guide it using Munchies structural therapy. Children are anxious and wondering the office asking to go home crying for their grandparents, they seek each other for comfort rather than parents, parents become embarrassed. Children engage with therapist asking to play with toys, mother becomes emotional children and husband respond. I would greet all by name shaking each individual’s hands and then ask mom and dad what they would eke to play with their children today. Knowing that the children are engaging with me as their therapist and interested in my toys this would be used as my intervention tools in order to have the family enact a typical family conflict. Upon children calling out crying for their grandparents I would first validate their state of disconnectedness from grandparents yet redirect them by saying, † look today mommy and daddy wants your time to play with them and they want to play with some of my toys. Children cry say no and began hugging each other rather than parents I would then start to realign the family roles by guiding children towards arenas for comfort rather than depending on each other when parents are available. I would do this by having kneel at children’s level asking them for permission to comfort them. As mother becomes anxious and emotional and father instructs children to leave mommy alone upon them trying to comfort her, I would intervene by saying to children, â€Å"k well mommy and daddy need some time while you both decide on a game to play with them but then Daddy would love for you both to help comfort your mommy. This will model time and respect given to the hierarchy of the family that being mom and dad yet allow children time for individual mime for choice and space. This would also allow parents to see the importance of setting proper structure, roles, and respectful boundaries’ in place. My hope would be to have the family engage in its normal family conflicts. I would do this by either playing a game relating to the last conflict such as the children not wanting to go to bed or take a bath. My session would go something like this. â€Å"Children play a game of wants, dodos and don’t, I would ask each individual to tell me what you want to today, what you will do today and what you don’t you want to do today? This would e done for each family member (with specific instructions in the beginning that whatever don’t want to be done everyone must laugh at the end for them, then try doing those don’t by adding something fun. In this case you don’t want to take a bath but how can you make it fun? The past tantrums could be realigned by making boundaries’ fun thereby inventing new boundaries’ and replacing them with parental time with children that will help airframe the family structure. The past rules in the David family consisted of the grandparents filling in the place of parents, the parents jack to consider the importance of time spent with their children gave up their parental power as that secure base and trusting relati onship with their children. My hope is that the engagements of family time spent together would build each individuals self-esteem and confidence as time and energy is being reciprocated here. References Goldenberg, 1. , Goldenberg, H. (2000). Family Therapy An Overview. ; . United States. Headwords, a division of Thomas Learning. Figure Captions Figure 1 . Caption of figure [Figures – note that this page does not have the manuscript header and page number] How to cite Effects of religion on children positive or negative?, Papers

Operations Production International Journal -Myassignmenthelp.Com

Question: Discuss About The Operations Production International Journal? Answer: Introduction: Value chain is a framework which explains about the various activities of an organization in context with managing the various activities and the performance 0of the company. The concept of value chain has come through Michel porter in 1985 through his business marketing book. Basically, value chain expresses about the process and production view of an organization. It looks over the manufacturing process of an organization and assists the company to manage the process. This project report has been prepared to evaluate the process of value chain and its components of an Australian manufacturing company which name is PRO-PAC Packaging Ltd. This company is handling its business in Australian as well as Canadian and New Zealand market. The vale chain analysis study has been done on company through evaluating the various components of the company. On the other hand, the value chain process of the company has also been evaluated. And on the basis of study, recommendation has been given to the management of the company about the performance and the position of the company. Company overview: PRO-PAC Packaging Ltd is an Australian manufacturing company. The company is handling its business in Australian as well as Canadian and New Zealand market. The main functions of the company are to manufacture the packaging material for companies. Basically, the companies outsource the packaging material to this company. It is one of the largest packaging material manufacturing companies in Australia. The company supplies various packaging products and the services to various industry such as food and food processing industries, warehousing, logistic, agriculture markets, FMCG, retail market etc. (Home, 2018). The company is operating its business since 1987 in Australian market. The main motto of the company is to provide innovative and great range of products. Value chain: Value chain is a concept of managing the activities and operations of production companies. This framework assists the companies to maintain the production process and the activities related to the production. Basically, value chain expresses about the process and production view of an organization. It looks over the manufacturing process of an organization and assists the company to manage the process. Value chain components of PRO-PAC Packaging Ltd are as follows: Primary Activities: Primary activities of value chain include ordering the raw material; process the raw material into finished goods and disposing off the material into the market. Following is the primary activities of PRO-PAC Packaging Ltd according to the value chain analysis: Inbound logistic: PRO-PAC Packaging Ltd arranges all the inbound activities through movements of raw materials, finished inventory, parts from suppliers to warehouses, companies and the clients of the company. Operations: At this stage, PRO-PAC Packaging Ltd arranges all the operations and the functions of the company to converts the raw material, labour, energy etc of the company in finished goods (Toomey, 2012). Outbound Logistics: At this stage, PRO-PAC Packaging Ltd arranges its process in such a way that the storage of the final products could be done in a better way. It assists the company to manage the inventory of the company. Marketing and sales: At this stage, PRO-PAC Packaging Ltd arranges its process and creates, communicates, delivers and exchanges values of the products with its clients. Though, most of the times, company produces the product according to the order. Services: This stage includes all the operations and the activities which are required by the company to satisfy the customers and deliver the goods in a proper way (Sweeney, 2013). Support activities: Support activities of value chain include all the extra activities of the company which is required by the company to maintain the process and the manufacturing process of the company. Following is the secondary activities of PRO-PAC Packaging Ltd according to the value chain analysis: Firm infrastructure: This process includes activities such as legal, finance, public relations, accounts, accounting, quality assurance; general management etc. company is managing all the departments and their activities in a better way. Human resource management: This process includes activities such as recruiting, training; hiring, developing, compensating etc. company is managing all the HR activities in a better way (Mihm, 2010). Technology: This process includes that all the equipment, software, process, technical knowledge etc of the company. Company is managing all the HR activities in a better way. Procurement: This process includes outsourcing of the goods from market and other companies. PRO-PAC Packaging Ltd is not following is to following the same process. Value chain planning is the first step for an organization to analyze and set up a plan for manufacturing process and managing the activities of the company. The value chain planning must be done by the companies after considering all the relevant factors to given a responses to a wide market. The planning has been done by PRO-PAC Packaging Ltd after analyzing the process of the company, activities, processing time, delivering time and various strategies (Ou, Liu, Hung and Yen, 2010). The planning of the company has been evaluated and it has been found that the company has managed and planned a good strategy to manage the value chain position and reduce the cost of the company. Strategy for value chain planning: Value chain planning management requires the perfect prediction and the planning about the process and the planning of the activities of the company. PRO-PAC Packaging Ltd is following the inventory control strategies. This strategy explains that the decision about the inventory must be taken y the organization and the management through evaluating all the related factors. For inventory control, the company includes the statistics of economic order quantity. EOQ is the level of the quantity where the holding cost and the ordering cost of the company would be less. It also evaluates the security units of the company which must always be hold by the company (Lysons and Farrington, 2012). This strategy copes up with various uncertainties and manages the demands and the supply process of the company in better way. The most efficient and effective contribution of this strategy is to manage and identify the inventory turnover ratio of the company for a better conclusion. Competitors position and potential rival: The position of the company has been evaluated against with the competitors and the industry of the company and it has been found that the PRO-PAC Packaging Ltd has positioned itself in a well manner in the industry. The performance of the company in concern with the value chain is quite impressive. Due to value chain analysis, the company has managed, processed and delivered the goods to its clients on the right time. It has also managed the cost of the company and due to it the profitability position of the company has been way better. More, it expresses that the economics of sales of the company has been enhanced due to competition position. The planning and implementation of value chain has assisted the company to improve the market entry and it has also helped the company to utilize the production capacity at its best. Further, it has been found that due to it, the company has positioned itself in a good manner. Information for manufacturing and selling budget: Further, it has been evaluated that budget making is a good step for every manufacturing company as due to budgeting process, it becomes easy for them to evaluate the position and the demand of the goods in the market in near future (Hussey, 2007). For the budget preparation, following items are significantly required by the company: Historical data Future trend Current position of the company New customers of the company Client behaviour Marketing position of the company Significant changes into the economy Suppliers Demand of the products in the market Price per unit etc. (Arndt, 2008). Further, it explains that the manufacturing and selling budget makes it easy for the company to manage the process and the performance of the company in near future. Controlling: Controlling is the last process of value chain in which the planned outcome is compared with the actual outcome and the reason behind differences is measured. The main aim of this step is to make new strategies to control over the process and the differences of the company. It is a significant function as it controls the error of the company and makes corrective action against the performance of the company. Monitoring on selling and manufacturing plans: Through the evaluation on PRO-PAC Packaging Ltd, it has been found that this company could make control over its manufacturing plan and selling plan through analyzing and evaluating the data and the related information. Firstly, the company analyzes the budgeted and actual manufacturing and sales figures of the company and further it measures the total differences among those variables (Chopra and Meindl, 2013). Further, the related factor could be evaluated and through it a conclusion could be made that why these differences have occurred and lastly, the new strategies and policies have been made which would assist the company to monitor its selling plans and the manufacturing plans. Balance scorecard: Balance scorecard of the PRO-PAC Packaging Ltd is as follows: Balanced Score Card: PRO-PAC Packaging Ltd Customer's perspective Objectives Measures Targets Initiatives Retain high value customers Customer retention % Provide various new products and the services to the customers Analyze and evaluate the customer's value in company Customers service Customer retention % discounts and rewards could be offered to the company Evaluate the customer service and the products quality through offering them various new products, discounts and rewards Process Perspective Objective Measures Targets Initiatives Productivity % of output Company's production level Removal of extra activities Employee qualification qualification measurement Company must hire the qualified employees Training must be given to the less qualified people (Cetinkaya, 2011) Innovation and learning perspective Objective Measures Targets Initiatives Skilled Employees Total % of skilled employees Production's increment level Alterations into HR policies Process Innovations Increased output Technology measurement Technology of the company must be changed. Financial Perspective Objective Measures Targets Initiatives Reduce Cost total % of cost High dividend yield Continuous Supervisions Increase Revenues Total Revenue High revenues Continuous Supervisions It explains that the above balance scorecard is followed by the comapny to measure and evaluate the performance of the company. Decision making: Decision making is an ongoing process in which various decisions about the process and changes into the organization are taken by the management or the company. The main aim of this step is to evaluate all the alternatives and reach over a good conclusion. It is a significant function as it controls the error of the company and assists the company to make a better decision. Expand at national or international level: It is one of the most important decisions which are made by every organization at the time of growth. For this process, PRO-PAC Packaging Ltd should identify the main decision which must be done and after it, the information must be gathered by the company such as the foreign economy, their policies, culture etc. Further, the alternatives must be identified by the company which are national level and international level. In addition, the evidences must be weighed by the company through drawing the information about every alternative and after it, the best alternative must be chosen by the company (Beske and Seuring, 2014). And this decision must be implemented by the company through entering into the foreign market. Target a specific group or diversification: Focusing on a specific target or diversify the market is also one of the most important decisions which are made by every organization at the time of entering into the market or expanding the business. For this process, PRO-PAC Packaging Ltd should identify the main decision which is focusing on a specific target or diversify the market. After it, the information must be gathered by the company such as the target group or other groups etc. Further, the alternatives must be identified by the company which are current target group and diversify market (Assey, 2012). In addition, the evidences must be weighed by the company through drawing the information about every alternative and after it, the best alternative must be chosen by the company. And this decision must be implemented by the company through focusing on the diversification or specific target group. Summary: The above study explains about the value chain and the management process of the company. Through study over planning, controlling and decision making of the company, it has been evaluated that the planning of the company is too good and it has helped the company to make more competitive. Further, the controlling power of the company could be evaluated through its balanced scorecard and lastly, the decision making process of the company covers all the related aspect. Recommendation: The above study on PRO-PAC Packaging Ltd explains that the company is managing all its activities, process and operations in a well manner. Still, few alternations are required by the company to be done for the betterment of the business. It explains that the company should focus on the quantitative data more rather than the qualitative data and the management of the company is required to cover all the significant and important information and the data related to performance of the company. References: Arndt, H., 2008. Supply Chain Management, Germany: Gabler Verlag Assey, J.J.M. 2012. A New Introduction to Supply Chains and Supply Chain Management: Definitions and Theories Perspective, Journal of Business and Economic. 5 (1). pp. 194-207 Beske, P. and Seuring, S. 2014. Putting sustainability into supply chain management, Supply Chain Management: An International Journal. 19 (3). pp. 324-333. Cetinkaya, B. 2011. Sustainable Supply Chain Management: Practical Ideas for Moving Towards Best Practice. Springer Science and Business Media Chopra, S. and Meindl, P. 2013. Supply Chain Management: Strategy, Planning, and Operation 5th ed.. US: Pearson, Global Edition Home, 2018. PRO-PAC Packaging Ltd. Viewed on 2nd Feb 2018, from, https://www.pro-pac.com.au/ Hussey, D.E., 2007. Strategic Management: From Theory to Implementation, UK: Taylor and Francis Lysons, K. and Farrington, B. 2012. Purchasing and supply chain management, Harlow, Essex: Pearson Financial Times Mihm, 2010. Fast Fashion in a Flat World: Global Sourcing Strategies. International Business and Economics Research Journal, 9 (6) pp 55-63 Ou, C.S., Liu, F.C., Hung, Y.C., Yen, D.C. 2010. A structural model of supply chain management on firm performance, International Journal of Operations and Production Management. 30 (5). pp. 526-545 Sweeney, E 2013. The people dimension in logistics and supply chain management its role and importance, Supply Chain Management: Perspectives. Issues and Cases. McGraw-Hill: Milan, pp. 73-82. Toomey, J., 2012. Inventory Management: Principles, Concepts and Techniques, Germany: Springer Science and Business Media

A Complete Guide to Essay Writingâ€Make it Simple

Essay writing: Before we begin Writing an essay is a task that everyone has to deal with. The first encounter most likely happens at primary school. Compositions in primary school are quite basic and only require a good imagination and somewhat decent writing skills. But†¦ As time passes, essay writing becomes more and more complicated. Soon, to be able to write an excellent essay, you have to conduct research, think the whole thing through, and work on it for much longer in general. And when you think you’re finally done, there’s still proofreading and editing waiting for you. Sounds kind of nightmarish, right? Well, it depends. Some can deal with this task quickly, while others have struggled with essays since primary school. "A good essay must have this permanent quality about it; it must draw its curtain round us, but it must be a curtain that shuts us in not out. ― Virginia Woolf But how do you define essay writing? Are there many different types of essays? Let’s find the answers to these questions right now. Also, while we’re at it, let’s talk about how to write an essay. We’ll go through each stage of the essay writing process and point out all the essential details of the creation process. You think that’s it? No, there’s even more! You’ll also find a bunch of tips you can use to make writing an essay much easier. And there will be a couple of useful links with various essay topics to choose from.

Parental Divorce That Changed My Views About Life Social Work Essays

Parental Divorce That Changed My Views About Life Social Work Essays Parental Divorce That Changed My Views About Life Social Work Essay Parental Divorce That Changed My Views About Life Social Work Essay Parental divorce is a well-documented hazard factor for a assortment of psychological troubles across legion life spheres. For illustration, surveies have systematically found that young person from divorced households tend to exhibit higher degrees of anxiousness and depression and greater overall mental wellness demands than equals from integral households. These links between parental divorce and higher degrees of psychological maladjustment can be traced into maturity even after early childhood variables are taken into history. My Experience She sits with a pencil in her manus and a thoughtful look on her face. She shifts in her concatenation and a sudden freshness visible radiations up her profile as inspiration falls on her. Without trouble, she begins pigment her life. . . That is me, Hannah Michell. I have lived in Seoul all of my life, with the exclusion of the occasional vacation. And every bit nerve-racking as it is at times, I do nt believe that I would be rather the same individual if I had grown up elsewhere. To me, who I am and who I will go are really of import. Certain events act upon me to get down believing about my life, and although I have non yet genuinely figured out who I am, I think I know where I m headed. It s difficult when people ask me which state I like better: England or Korea. I ve lived my whole life in Korea being treated like a British individual, but in England, people ever acknowledge me as an Asiatic miss. Sometimes I want to give up being half of something ; for one time I want to be something whole. On the other manus, I could neer of all time give up being either British or Korean. There are alone facets of both civilizations that I greatly appreciate. Over clip, I have realized that I can, in fact, be both British and Korean without missing anything. Despite this consciousness and my love for these two states, I think when I m older I ll merely populate in a wholly different state such as Spain, so I can avoid taking between England and Korea. I live with my female parent, her best friend Sang-wha, and my female parent s pupil Woo-Joo. My female parent and male parent divorced a few old ages ago, and now I m populating with merely adult females. I frequently resent this agreement. I frequently reach out for a male figure, and although my male parent is about on weekends, it s non the same. My parents divorce had a great impact on me. I withdrew from the universe and lapsed into silence and periods of deep idea about such things as love, life, decease, and myself. These four thoughts all seemed to be connected, and I began to chew over more and more. I was lucky to hold a good friend who was traveling through the same experience as me. We had many conversations about great things, and easy I began to understand more about the life environing me. At this peculiar clip, I besides became really drawn to nature, for it seemed to keep many replies to my inquiries. After seting to household alterations, I began to concentrate on my instruction once more, which I had neglected. I received my simple instruction at Seoul British School, and I besides went off to get oning school in England for a twelvemonth. Now I attend Seoul Foreign School, and I must acknowledge that I enjoy school life here. Socially, there are divisions between the Korean pupils and the foreign pupils at school. We spend our trim clip individually because we lead such different lives, and it s easier to go friends with person who understands your civilization. I socialize with the foreign pupils because I am more comfy with their relaxed, unfastened attitude. They are so much more accepting of one s eccentricities, while the Korean pupils tend to be more traditional. Personally, I do nt believe I could easy go friends with the Korean pupils even if I tried. The lone thing that fusss me about these divisions, nevertheless, is the exclusion and sole attitudes among both groups. I believe in love and friendly relationship. I believe that they are of import, and that without them we would non last. My friendly relationships are of import to me and I would travel to great lengths to assist a friend in demand. My closest friends at the minute are Sooki, Kristin, and Julia. We portion large parts of our lives and have tonss of merriment together. The one friendly relationship that I value like no other is with my best friend Julia. She is witty lovingness, clever, and she says the right words of comfort at all the right times. Julia and I talk a batch about love. We frequently stay up all dark watching romantic films and discoursing them afterwards. We besides talk about our fellows and our hereafter programs. In the hereafter, I would wish to be a author. I am particularly interested in composing novels and poesy. For now, the most of import thing is my individuality. I need to cognize who I am before I can make out to others. It is difficult to acquire to cognize people when I do nt truly cognize myself. I hope one twenty-four hours I will wake up and all of a sudden recognize who I am so that I can get down to touch other peoples lives. Not merely can kids s psychological jobs be traced into maturity, but grownups who are confronted with their parents divorce are similarly vulnerable to psychological battles related to the divorce. That is, parental divorce after childhood ( i.e. , between ages 17 and 31 ) has been associated with higher unease tonss at age 33 when compared with tonss of grownups from integral households ( Furstenberg A ; Kiernan, 2005 ) . Thus, immature grownups seem non to be immune to psychological troubles merely because their parents divorce occurred after childhood. Laumann-Billings and Emery ( 2006 ) created a alone step of nonclinical degrees of psychological hurt ( i.e. , Painful Feelings about Divorce graduated table ) . They found that resilient immature grownups from divorced households endorsed psychological hurt points related to their parents divorce. These points assessed concepts such as on-going feelings of loss and forsaking, angst related to events such as graduation when both parents would be present, and a general sense that life has been harder because of the divorce ( Laumann-Billings A ; Emery, 2006 ) . Why do some kids seem comparatively unharmed by their parents divorce when other kids of divorce become entrenched in divorce-related battles? Most attempts to explicate this variableness have centered around five theoretical positions: the loss of the noncustodial parent, the accommodation of the tutelary parent, interparental struggle, economic adversity, and the cumulative consequence of nerve-racking life alterations. Consequences of a meta-analysis have revealed that the overall consequence size for each theory is little, proposing that these theories lack full explanatory power. One ground for this modest explanatory power might be that each theory focuses on a kid s exposure to specific stressors as the mechanism responsible for that kid s single psychological maladjustment. In contrast, get bying theory suggests that the effectivity or deficiency thereof of an on-going, organic procedure of assessment and header is related to psychological adjustment-not simply the exposure to specific events. More specifically, get bying theory assumes that people are purposive persons who actively seek to make and prolong significance in their lives ( Amato, Cheadle, 2005 ) . As people work to prolong the countries of life from which they derive significance, they appraise life events in footings of their relationship to these countries of significance. Life events become stressors when they are perceived as threatening, harmful, or disputing to an person s deepest, most important facets of life. In response to these stressors, people engage in get bying activities as they work to keep on to their important objects or transform these countries of significance in a manner that integrates the nerve-racking event into their orienting system or general manner of nearing the universe ( Amato, Cheadle, 2005 ) . Published research on get bying theory and parental divorce appears to be limited to a smattering of surveies. Additionally, they found that turning away ( negative ) get bying partly mediated the relationship between negative events and psychological symptoms and active ( positive ) get bying moderated the nexus between negative events and behavior jobs. Sandler, Tein, Metha, Wolchik, and Ayers ( 2006 ) found that similar links between active and avoidant header and psychological accommodation were mediated by get bying efficaciousness, which they defined as the kid s belief that he or she has some control over the state of affairs. Take together, these surveies suggested that get bying theory is outstanding for kids s experiences of parental divorce. It is non surprising that similarities exist among them as the household is the most basic unit in all societies and divorce shingles non merely the foundation of this societal karyon but has far-reaching impact on the remainder of society. The grounds most surveies stated were deficiency of communicating and mutual exclusiveness. Those who are unmarried will be afraid of doing the determination to get married if the tendency shows that matrimonies are neglecting. Children from broken places carry cicatrixs of insecurity that can impact their capacity to hold long term relationships ( Furstenberg A ; Kiernan, 2005 ) . Therefore, it is of import on the one manus to raise an consciousness among the young person on the accomplishments needed to hold permanent matrimonies, so that they do nt get down married life with high outlooks and a low sense of duty and on the other manus societal policies need to assist disassociate adult females and their kids to readapt their lives to normalcy and be accepted without any stigma in society. Family kineticss that increase the likeliness of subsequently divorce first act to increase the mental wellness jobs of dependent kids. Controling for these predivorce differences, the event of parental divorce is accompanied by higher degrees of kid anxiety/depression and, for kids populating in extremely dysfunctional households, lower degrees of kid antisocial behaviour ( Furstenberg A ; Kiernan, 2005 ) . A process-oriented attack to the effects of parental divorce on child mental wellness bases to progress well this field of cognition, by enabling research workers to spot more clearly how child mental wellness is unambiguously affected by kid and household features that precede and predict matrimonial disintegration, every bit good as effects that flow straight from the divorce event and emerging subsequent stressors. Help Restore Self-Confidence and Self-Esteem The fact that immature people have non to the full developed their header accomplishments is a perplexing factor in finishing grief work. The ego construct has several constituents, but two of import 1s are personal control and personal exposure. Children need to come to footings with life events to develop autonomy and a sense of command. If heartache is non resolved, kids are more susceptible to emphasize ( Furstenberg A ; Kiernan, 2005 ) . Counseling is indispensable to a disenfranchised, immature sorrowing individual. By being available, encouraging and beef uping bing relationships, and assisting to develop new 1s, the counsellor will help the sorrowing individual to restore a sense of ego. Counselors can promote pupils to acknowledge grieving as a ripening procedure for doing positive alterations so that they can emerge more cognizant, more sensitive, and more resilient ( Chen, George, 2005 ) . Rituals as Critical Tools Rituals are a powerful curative tool for deciding heartache. Ritual is a specific behaviour or activity that gives symbolic look to certain feelings and ideas of the histrion separately or as a group. Unfortunately, disenfranchised bereaved individuals are frequently denied the rites because the heartache is unrecognised ( Chen, George, 2005 ) . Nevertheless, an debut to ritual may function to link the kid to his feelings. It may be habitually repeated or a erstwhile experience. They can be utile in helping kids to accept the world of the loss, showing and working through feelings attendant to the loss, and the attach toing undertakings of sorrowing. The expressive humanistic disciplines and play therapies offer many schemes that could be incorporated into the counsellor s work with kids. Some suggested techniques to show heartache that have been found to be helpful include pulling, function playing, composing letters and verse forms, diary authorship, and other types of commemoratio ns. Decision Society is ever germinating and merely as assorted systems like the political organisations, economic establishments, etc are affected by alteration, so besides does the household have to maintain up with the new developments. The societal solidarity as Durkheim described is organic in modern societies where each section of society helps stabilise the other in crisis. Divorce, as we see it, is a structural job that has afflicted immature married twosomes ( in their mid-twentiess ) over a period of clip. Statisticss have besides shown that important proportions of young person do non go on beyond five old ages of matrimony. While, society has tried through formal and informal establishments to run into the demands of the household there is demand for more alteration. Media has a duty to portray matrimony in a more favourable visible radiation and demo how struggles can be resolved, alternatively of movies that depict opprobrious hubbies and demanding married womans. Problems are seen in the movies but solutions are seldom offered in these telecasting series. Thus, they give the viewing audiences the feeling that the issues can neer be resolved. Finally, the household has to play a stronger function in the socialisation of the kids. It is besides of import for parents to pass more clip with their kids to transfuse in them values and norms that will maintain them together in ulterior life. They have to larn communicating accomplishments and struggle declaration as these two accomplishments are the pillars that will halt the roof from fall ining in the matrimonial place. Children through early socialisation demand to be taught regard and cooperation with the other sex. Boys should non be favored in parental intervention, as it prepares these male childs to anticipate superior functions in big life. Different establishments in a society demand to work together to cut down the rate of divorce. School kids experience many losingss, among them are disfranchised heartache losingss. Students can non disregard their losingss ; they must be acknowledged, grieved, and resolved. Some losingss are easy resolved, others take drawn-out gri eving and a great trade of clip and work. Counselors, by going sensitive to these peculiar issues and by supplying services and implementing groups as a vehicle for mending, can help pupils in sing a healthy recovery procedure. Confronting loss and grieving are worlds of life. Helping pupils to admit and get by with these worlds is a necessary and hard undertaking. School counsellors can go a powerful force in assisting pupils to cover positively with their multiple losingss. Students must be made cognizant that where there is attachment there is loss, and where there is loss there is heartache, a normal and cosmopolitan experience, repeatedly encountered.

Simulation Perceptual Maps in Marketing Research Paper

Simulation Perceptual Maps in Marketing - Research Paper Example Thorr Motors for example has used these maps to design a marketing plan for their high brand. Scholar Clemente defines these maps as processes through which the perception of consumers on an existing commodity are charted. I will attempt to discuss the three simulation phases, and recommended solutions and results. Phase I: this involves perceptual mapping. The situation here is decrease in sales due to brand image. This is so because the Cruiser Thorr’s target consumers were aging and their tastes had begun to outgrow the lifestyle that Cruiser Thorr symbolizes. In addition to this issue, youthful customers had more interest in lower priced motorcycles due to their lower personal disposable incomes. Maps that were perceptual were used to position Cruiser Thorr’s position in the market in terms of consumer perceptions. The parameters for mapping included price, services offered, lifestyle image and quality engineering. Since the Cruiser Thorr’s image was being ou tgrown by the target audience which was aging, lifestyle image was chosen. The mapping of the image was useful in maintaining a level of image that it satisfies both younger and older customers. Lifestyle image was important to Thorr as it had the potential to influence a customer’s decision to buy a Cruiser Thorr because of its representation. Since perceptual maps are visual representation of a customer's opinion of a brand and the Lifestyle Image of Cruiser Thorr is that of masculinity and mobility, Thorr Motorcycles should make changes regarding the consumer image in the wake of decreasing sales, so as to be able to bring back the profits the Cruiser Thorr had before. Marketing is not only about selling and advertising, it also affects products and the consumers in the economic system and organizations must understand how this happens. Simulation helps perfectly in this in that it helps construct and use perceptual maps so as to create effective marketing plans like for T horr’s motorcycle brand. Phase II: phase two of simulation is about the product, either introducing a new product into the market or repositioning the existing one. The situation involves decrease in sales of Cruiser Thor and the need to come up with a market plan able to reposition Cruiser Thorr to effectively and efficiently launch a new product of a motorcycle. The top judgment for the association was aimed at repositioning Cruiser Thorr through financing solutions and boosting services. By providing financing alternatives and rising services Thorr Motorcycles Inc can open doors for possible consumers who may have had the feeling that the Cruiser Thorr was further than their reach especially younger viewers who may already have shown great interest and passion in the Cruiser Thorr. Recommended Solutions: The solutions here are in the area of reforming engineering in terms of quality, pricing, and services. Quality engineering touches on every aspect or quality of the commo dity or product, including style, design, engine capacity and more importantly, the design of the engine. Quality engineering has a high market impact of the product and could increase sales by meeting the customers’ needs in terms of quality, thus increasing the organization’s level of credibility of its products. Pricing is also very important to customers as it influences decisions to make a purchase for an item or not. Having a high price is okay as long as the quality and credibility

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

Research Paper Example Even with the government allocating relatively low funding to the national health care as part of measures to cut costs, Israel still managed to build a quality health care system ranked among the best in the world. Among the different medical areas, the country has performed exceptionally well in the diagnosis of chronic diseases thus preventing frequent hospitalizations unnecessarily. Such include cases like diabetes, which usually receive appropriate attention and early diagnosis significantly reducing the rate of complications as well as chances of hospitalization (Brinkley, 2007, p. 27). Government’s commitment and dedication to ensuring a healthy nation has been a key input to the success of the program. One other reason why proper execution of healthcare programs has yielded fruit is the fact that Israel benefited a lot from the influx of doctors and nurses from the former Soviet Union in the 1990’s though most are now aging and exiting from the profession. The c ountry’s health care is based on universal coverage, substantial federal government control and oversight and is a managed healthcare system. The country’s health care model requires citizens to be members of one of the four insurance plans. The plans are by law mandated to meet certain minimum service quality requirements and are not expected to reject clients simply because of certain preexisting conditions (Brinkley, 2007, p. 20). Even though the management of healthcare has been such a success, several areas of improvement have been suggested from various quarters. One such area is the expansion of the assessment of medical data by insurers from community health fund clinics to include monitoring improvements in care. Additionally, hospitals have also been urged to enhance the quality of treatment and accessibility of hospital data by healthcare professionals. There has not also been enough competition among providers of healthcare and also on quality among health care funds. Increased competition in these areas has been proposed as another avenue for better health care in the country. In terms of equity in care provision, there are a number of gaps based on ethnic groups and between the rich and the poor. To enhance accessibility to care and improve equity, additional efforts are inevitable. The Israel and the American Healthcare Systems The American healthcare system is majorly a public private partnership arrangement with a majority of Americans covered by their employers. There are more than 5000 hospitals in the United States majority operating as nonprofit private entities. A good number of Americans did not have health insurance but with the enactment of the Patient Protection Affordable Care Act (PPACA), the number without insurance is projected to significantly reduce. Both the American and the Israel health systems employ both public and private sources of funding with a mix of government and non-governmental organizations. Both sys tems are among the few in the world that utilize extensive use of competing managed care organizations though faced with shortages in healthcare professionals particularly physicians and nurses (Brinkley, 2007, p. 23-24). One of the notable differences between Israel’s and America’s healthcare systems is the issues of financing and coverage as well as cost control in health

Motivation theories used to explain turnover intention

Motivation theories used to explain turnover intention This chapter discussed the used of motivation theory to explain the turnover intention or behavior amongst the auditors in Sabah. Besides, turnover intention the dependent variable, job satisfaction and organizational commitment the independent variables are being defined and conceptualized in line with this study. The relevant literature or past research done on this area of study is also being reviewed. Lastly, the findings on the relationships between the variables are being discussed. 2.1 Theory 2.1.1 Theory of Reasoned Action Turnover process models draw heavily from rational decision making models such as Fishbein and Ajzens (1980) theory of reasoned action, which stresses the importance of behavioral intentions in predicting and understanding turnover. However, there is research on the manner on which attitudes and intentions get translated into behavior that can inform turnover theory and research. Examples include research on perceptions of behavior control, behavior consistency, and the role of emotional arousal. For the purpose of this study, Perceived Behavioral Control is usedà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦. 2.1.1.1 Perceived Behavioral Control Many prominent models of the turnover process implicitly or explicitly use elements of Fishbein and Ajzens (1980) Theory of Reasoned Action. This theory and its evolution into the Theory of Planned Behavior (Ajzen, 1991) suggest that intentions to perform a behavior are the more immediate precursors to actual behavior. Intentions are a function of attitudes toward performing the behavior, which are in turn a function of beliefs concerning the consequences and desirability of such consequences of performing the behavior, and subjective norms concerning the behavior, which are a function of beliefs concerning what important referents think about the behavior and ones motivation to comply with those referents. A good deal of empirical research has supported this model, especially the critical role of intentions (Kim and Hunter, 1998). Individuals that having the behavior intention not necessary execute the intention in reality, which introduce the importance of the role of behavioral control. Ajzen (1991) defined control beliefs as the presence or absence of factors that may facilitate or impede the performance of a behavior. Perceived behavioral control is an individuals perceptions of their ability to perform a behavior based on control beliefs. Behavioral control is expected to reinforce behavioral intentions through increased perseverance and consideration of potential obstacles (Hom and Griffeth, 1995). In fact, Ajzen (1991) argues that behavior is a function of compatible intentions and perceptions of behavioral control. Perceived behavioral control should moderate the effect of intentions on behavioral control is positive. Thus, in a turnover context, turnover intentions may only lead to turnover when individuals perceive that they have control over the decision to quit. There are a number of reasons that individuals might perceive less control over this decision. Family or financial constraints could restrict mobility. Over time, individuals become increasingly invested in an organization, making it more difficult to leave (Becker, 1960). Perceptions of the availability and quality of alternatives may affect perceived control. There is some evidence perceptions of alternatives interact with job satisfaction in leading to withdrawal (Jacofsky et al, 1986). Steel et al recently suggested that barriers to mobility are critical components of labor market cognitions. However, turnover researches do not typically directly measure perceived behavioral control over turnover decisions and have not assessed control as a potential moderator of the relationship between turnover intentions and turnover. Behavioral control should moderate the intentions-turnover relationship such that the relationship is stronger when control is higher, and weaker when control is lowest. 2.1.2 Role Theory For the purpose of study, role theory is used to explain the role stress experienced by the auditors. Role theory assumes that individuals lives are spent acting out an assortment of roles both within and outside the organizational context (Fisher, 2001). As cited by Fisher (2001), Katz and Kahn explained that each of these roles is assumed to be more a function of social setting rather than of the individuals own personality characteristics. Therefore, Fisher (2001) suggested that every position within an organization can be thought of as a specific role into which an individual is socialized. Under the role episode model, the process of socialization happens when a role senders directly or indirectly communicating to the role incumbent (focal person) their expectations of the incumbents responsibilities. Role ambiguity exits when goals of ones job or methods of performing it are unclear (Johns et al, 2007). Scholars Johns et al (2007) further explained that there are three elements that can lead to ambiguity, which are (1) the organizational factors, for example the middle management might fail to provide the big picture as they are not in the upper management level; (2) the role sender, for example role senders have unclear expectations of a focal person, or the message is not effectively communicate between a role sender and a focal person; (3) the focal person, as a new staff need time to fully digest the work expectation communicated to him. On the other hand, role conflict occurs when compliance with one sent role would compliance with another difficult (Cited by Fisher (2001) from Kahn et al, 1964). Kahn et al (1964) identify five major types of role conflict as below:- 1) Intra-sender conflict conflicting prescriptions/proscriptions from the same sender 2) Inter-sender conflict conflicting prescriptions/proscriptions from different sender 3) Inter-role conflict conflict between roles in situations where an individual holds more than one role 4) Person-role conflict where an individuals role requirements are incompatible with hus/her own beliefs, values and norms 5) Role-overload reasonable expectations may have been received from role senders, but he/she may not have enough time to address them all (Cited from Fisher (2001) review on Kahn et al (1964) research work) Scholars Van Sell at al (1981), Jackson and Schuler (1985) observed that both role ambiguity and role conflict are linked to negative outcomes, such as lower job satisfaction, increase on perceived job tension, lower job performance and greater turnover intention. 2.2 Conceptualization of Dependent Variable Turnover refers to resignation from an organization (Lee and Liu, 2006; Johns et al, 2007). Turnover can be classified as internal and external, voluntary or involuntary (Wiley, 1993). By internal turnover, it means that an employee is transferred to another department within the same company or group of companies. On the other hand, external turnover refers to the resignation of an employee permanently and henceforth represents the cost outflow to an organization. Wiley (1993) further explained that involuntary turnover happens when an employee is terminated for just caused, for example: sickness, death, retirement due to old age; and voluntary turnover is a situation whereby the employee join another organization on his/her accord, or participate in the voluntary separation scheme. Employee is the human capital of an organization (Quote). Employees have become the important tangible asset in an organization in this new k-knowledge world, especially within the service industry. Successful and established companies such as Virgin Airline and Honda have invested substantial amount on their employees in term of training and development cost, aiming to shape their employees to maintain the competitive edge. Henceforth, an employee departure is considered a nightmare to an organization especially with the highly skilled employees such as the IT specialist and audit managers. Not only the organization is unable to recover the training cost (Quote), they also lose their competitive advantage when the highly experienced and skilled employees join another competitor firm. High turnover also experienced in the unskilled position such as in the manufacturing plant and hotel line due to the low replacement cost for unskilled employees. The ease of replacing employees for th e lower rank staff no doubt will not cause substantial loss to an organization, but will affect the service or product quality as the new employees are unfamiliar with the organizations culture and work procedures. As a result of the significance of these costs, employees turnover has been widely studied since the 1900s with the various publications of qualitative and quantitative researchers of exceeding 1500 (Munchinsy and Morrow, 1980). Given the significance of the study, the determinants of turnover intention is widely studied in various industries, such as the hotelier (Atang, 2010), manufacturing (Udo et al, 1007), teachers (Currivan, 2000) information system (IT) (Rahman, 2008; Muliawan et al, 2009) and among public accountants or auditors (Lander et al, 1993; Perryer et al, 2010; Reed et al, 1994; Viator, 2001; Law, 2005; Lui et al, 2001; Hsieh et al, 2009; Hasin and Omar, 2007). The reasons for voluntary turnover are numerous and the list of determinants is still expanding. The most common reasons given by leavers are due to job dissatisfaction, lacking of career growth opportunities, poor relationship between supervisor and subordinate, to name a few. Khatri et al (2001) studied high turnover in Asian countries with sample size of 422 taken from food and beverage industry, shipping and marine industry and retailing industry suggested that the main reasons for high turnover were procedural justice and low org anizational commitment. The researchers also reported that managers had more turnover intention than non-managers and procedural justice was considered more important than the distributive justice, while organizational commitment was found to be very critical in turnover intention. Job satisfaction, organizational commitment and intention to leave are among the most commonly proposed antecedents to turnover (Tett and Meyer, 1993). The reasons of having turnover intention might vary based on individualistic (Atang, 2010). The recent research noted that researchers used other new variables sust as employees personality (Dole and Schroeder, 2001; Hsieh et al, 2009), hardiness (Law, 2005), gender (Reed et al, 1994) and organizational tenure (Udo et al, 1997) to determine the moderating effect on the turnover intention. It is observed that there are not many research done in the local setting and hence it is doubtful that if those results obtained from the Western countries can be generalized in Asia, in particular, Malaysia. Henceforth, the primary focus of this study is to examine the relationship between role stress and job satisfaction towards turnover intention amongst the auditors in Sabah, using organizational commitment as mediating variable. In the academic writing, most of the research that focus on employee turnover used direct determinant of turnover, intent to stay (Iverson, 1992; Price 1997) or turnover intention (Perryer et al, 2010; Hsieh et al, 2009; Rahman et al, 2008) to predict turnover as the data of actual turnover is typically hard to collect. Intent to stay (or leave) is defined as employees behavioral intention that has been found to have a strong negative influence on actual turnover (Iverson, 1992). A link between behavioural intentions and behavior has been well documented in the social psychological literature (Ajzen and Fishbein, 1980), as has a link between turnover intentions and turnover (Irvine and Evans, 1995; Richer et al, 2002; Tett and Meyer, 1993). Richer at al (2002) further commented that most employees having the intention to leave their job would most likely to quit if they have the choice. Other researchers agreed that behavioral intention is the most determinant of actual behaviour (Aj zen and Fishbein, 1980; Steel and Ovalle, 1984) and Rasch and Harrell (1990) further commented that there is positive relationships exist between intention to leave and turnover behaviour. The finding that turnover intention is the strongest predictor of turnover is similarly consistent (Meyer at at., 2002; Tett and Meyer, 1993). The turnover intention for this present study will be conceptualized as the having the intention or behavior to leave the organization voluntary (Atang, 2010). Based on the above discussion, turnover intention would be used interchangeable with Intent to stay (or leave). 2.3 Independent variables For the purpose of this study, role stress and job satisfaction are chosen as the independent variables that are most representing determinants in influencing the turnover intention amongst auditors in Sabah. 2.3.1 Role Stress Role stress is identified as stressors at individual level (Ivancevich et al, 2008) and has now becomes the focus point of the Organizational Behavior and Management study due to the importance of having a quality work-life balance. Under role theory (as explained in Section 2.1), stress can arise from a particular role episode when sent roles conflict with each other, or when information required to effectively carry out a sent role is lacking (Fisher, 2001). These situations are known as role ambiguity and role conflict. A role is a set of expectations on individual behavior due to his/her position in an organization (Lee, 1996). Role ambiguity and role conflict are typically viewed as a consequence of audit structure practice (Wittayapoom and Mahasarakham, 2007). The definition of role ambiguity and role conflict are thoroughly examined as below:- 2.3.1.1 Role Ambiguity Role ambiguity happens when an individual is unclear about the expectations or requirements of his/her job (Hitt et al, 2006). This includes ambiguity on the methods to be used, how performance is evaluated, an individuals responsibility and also the limits of ones authority (Johns et al, 2007). Black (1988) stated that role ambiguity happens when there is a lack of the necessary information available to a given organizational position. Smith (1990) in his review on Senatras (1988) study noted that 70 percent and 47 percent of reported role ambiguity in men and women respectively was attributed to organizational factors, such as adequacy of authority to make decisions and formalization of firm policies. Ambiguity on the audit work creates tension and anxiety, and hence leads to emotional stress, as employees are unclear of the expectations. Many of audit juniors experience role ambiguity, as they are unfamiliar with the work procedures and companys culture. Besides, different audit e nvironment warrants different attention from the audit staff, for example, the audit of a financial institute is different from auditing a non-profit organization. Henceforth, a new comer would easily feel lost and frustrated if there is no proper guidance and this might affect his/her work commitment or trigger the turnover intention. Vaitor (2001) in his research finding on public accounting organizations in United States concluded that informal mentors do indeed help to reduce role ambiguity among the audit staff. Ambiguity tends to decrease as length of time in the job role increases (Jackson and Schuler, 1985, as cited by Johns et al, 2007). 2.3.1.2 Role Conflict Role conflict is termed as the degree of incongruity or incompatibility of expectations associated with the role (House and Rizzo, 1972; Johns et al, 2007). Atang (2010) stated that employees perceive a role conflict when there is incompatibility between expectations and demands from various workgroups and conflicting role to be carried out by individual employee. Katz and Kahn (1978) explained in detail that conflict is the simultaneous occurrence of two or more role sending such that agreement with one party would make more difficult for the agreement of another (see details on Section 2.1 on role theory). For example, auditor A is assigned to work on an outstation assignment by his direct supervisor, but is requested to attend a training course as requested by the human resource manager for the same working week. Hence, auditor A is said having a role conflict. Viator (2001) suggested two types of role conflict that is relevant in the accounting practice, namely the inter-sender, which occur when the expectations of one role sender are in conflict with another role senders; and the person-role conflict, which happen when the role requirements violate the needs, capacities or beliefs of the individual (Viator, 2001). Sorenson and Sorenson (1974) operationalized role conflict as conflict between an auditors professional and bureaucratic orientations. Role conflict is arguably more severe experienced with female due to the society perception that woman is the primary care-givers (Law, 2010). For example, married women with first-born children are expected to stay in-house to nurse the baby, while her career may become less priority. This perception would cause stress to career women today who valued their job above all. The significance of role conflict is discussed in Smith (1990) studies in his review on Senatras (1988) research work, which stated that organizational stressors accounted for 64 percent of the reported role conflict among males, 79 percent among females. The factors that resulted in role conflict for both man and female that identified in the study are excessive job and time pressures, conflicting objectives, and suppression of relevant information (Senatra(1988) as cited by Smith (1990) studies). 2.3.1.3 Empirical Evidence of Role Stress in the Accounting Profession As cited by Fisher (2001), Senatra (1980) was the first study in the accounting literature to examine the sources of role stress with public accounting firms. Senatra identified ten specific elements of the organizational climate of the public accounting firms in which he hypothesized would affect perceptions of role ambiguity and role conflict, which were(1) violations in the chain of command; (2) formalization of firm rules and procedures; (3) emphasis on subordinate personnel development; (4) tolerance of error; (5) top-management receptiveness to ideas and suggestions; (6) adequacy of work coordination; (7) timeliness of superiors responses to problems; (8) information suppression by superiors and subordinates; (9) adequacy of authority; (10) adequacy of professional autonomy. Using a survey of 88 senior accountants, Senatra (1980) concluded that violations in the chain of command tends to increase both role ambiguity and role conflict. For the purpose of this study, role ambiguity is defined as the lack of clear and precise information regarding what is expected of the role incumbent (Muliawan et al, 2009), which is important to perform the job (Rizzo et al, 1970). Role conflict refers to occasions when an individual receives conflicting information or requests (Muliawan et al, 2009) when there is incompatibility between expectations and demands from various workgroups (Harris et al, 2006).

Jhumpa Lahiri’s Interpreter of Maladies Essay

The Third and Final Continent is the last short story in Jhumpa Lahiri’s Interpreter of Maladies; and is probably the most memorable one. A newly married young man makes his way from India to England and then to the US where he is making arrangements to call his wife from back home. Lahiri’s tone from the very beginning sounds distant, but equally engaging, her style is painfully simple; and the structure of the story is as clear as the title. Lahiri gives an account of one man’s journey through three different continents. The story becomes captivating from the very first paragraph. She describes the narrator’s experiences in England where he lives with other â€Å"penniless Bengali bachelors all struggling to educate and establish themselves abroad [1].†   But our protagonist is offered a job at M.I.T and decides to settle down in the U.S. Here is when the story truly picks up momentum. Even with her simple style, Lahiri has also employed a strong underlying sense of humor. On his way to America, the narrator discovers that â€Å"President Nixon had declared a national holiday: two American men had landed on the moon [1].† The line is almost comical; the narrator is most uninterested in one of the greatest achievements in American history. Lahiri succeeds in describing America through the eyes of a foreigner to a new land. The narrator’s experience in America is a totally alien. Lahiri describes the new life and world around him in great detail, giving long descriptions of the food, clothes and the general attitude of people. And then the story moves on to Mrs. Croft. The relationship that follows is humorous yet endearing and heart-warming. In fact, here is where Lahiri’s genius lies. Mrs. Croft and the narrator come from two different diverse cultures and lives, yet no culture, race or color seem to come in between their friendship. Lahiri also brings forward the custom of arranged marriages, largely prevalent in India. â€Å"I regarded the proposition with neither objection nor enthusiasm. It was a duty expected of me, as it was expected of every man [1].† Even though he does not know his wife when the two get married, they begin to understand each other slowly. In fact, their first moment of understanding is in Mrs. Croft’s parlor, where the old woman calls Mala â€Å"A perfect lady [1].† â€Å"I like to think of that moment in Mrs. Croft’s parlor as the moment when the distance between Mala and me began to lessen [1].† The style and structure of Lahiri’s story are effortless and straight-forward. The words used too are simple. But it is exactly this simplicity which makes the story so close to life. The narrator’s tone is so disengaged from the story that it seems like a bland narration. Yet the events in that narration are so moving and heartening that it makes the reader feel like a part of the story. The forms a deep bond with his wife, initially, a complete stranger; and through the two the reader can see and experience the pain of losing one’s cultural identity and heritage. Their son is completely Americanized and has no interest in his Bengali roots. They wish that would â€Å"eat rice with us with his hands, and speak in Bengali, things we sometimes worry he will no longer do after we die [1].† Lahiri ends the story beautifully, describing the narrator’s journey through life in a few simple lines – â€Å"Still, there are times I am bewildered by each mile I have travelled, each meal I have eaten, each person I have known, each room in which I have slept. As ordinary as it all appears, there are times when it is beyond my imagination [1].† Works Cited: Lahiri, Jhumpa, The third and final continent, retrieved from http://www.dequinix.com/a/continent.php

Need for Security Essay

Security and control is needed in a custodial environment as people are sent there for a reason so if they were allowed to do whatever they want then it wouldn’t be a punishment. An advantage of having control is that the staff will always have authority over the prisoners, which is vital as they must be able to enforce discipline. Another advantage of having control is that they can keep an account of offences that prisoners have committed. This will come in useful if the prisoner has adjudication, it will also come in usual when reviewing the prisoner. Having the IEP scheme in a prison is a good thing as it encourages the prisoners to behave, this will make security and control easier to manage as the prisoners aren’t doing things they shouldn’t be. It will also make prison life for the prisoners more enjoyable, which is an advantage as it’s another reason why they won’t misbehave. Searches are needed in prisons to ensure that prisoners aren’t in possession of any prohibited items, if they do have this then it could lead to potentially dangerous situations. An example of this is if a prisoner has a weapon then they may use this against other prisoners or against staff. It is also important that searches are carried out on visitors of the prison as they will try their hardest to smuggle items in for prisoners. This is an advantage as it prevents prisoners from having things that shouldn’t, having an item like drugs will lead to gangs within the prison and this is something that must be avoided. Another aspect of security which is a big advantage to the prisoners and the officers is the dynamic side of security. Prisoner officers monitor the prisoners to ensure that they are coping with life in prison; if they aren’t coping well at all it could lead to them becoming suicidal. Prisoners could self-harm or even commit suicide if the prison officers aren’t keeping an eye on them. It is the duty of the prison officer to ensure that they look after the prisoners so letting this happen would mean they aren’t carrying out their job efficiently. Having dynamic security is a big advantage as it stops this from happening.

Study On Sensitivity Analysis And Financial Models Finance Essay - Free Essay Example

Sample details Pages: 6 Words: 1740 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Sensitivity analysis is used to determine how sensitive a model is to changes in the value of the parameters of the model and to changes in the structure of the model. Inthis paper, we focus on parameter sensitivity. Parameter sensitivity is usually performedas a series of tests in which the modeller sets different parameter values to see how achange in the parameter causes a change in the dynamic behaviour of the stocks. Don’t waste time! Our writers will create an original "Study On Sensitivity Analysis And Financial Models Finance Essay" essay for you Create order Byshowing how the model behaviour responds to changes in parameter values, sensitivityanalysis is a useful tool in model building as well as in model evaluation. Sensitivity analysis helps to build confidence in the model by studying theuncertainties that are often associated with parameters in models. Many parameters insystem dynamics models represent quantities that are very difficult, or even impossible tomeasure to a great deal of accuracy in the real world. Also, some parameter valueschange in the real world. Therefore, when building a system dynamics model, the modelleris usually at least somewhat uncertain about the parameter values he chooses and must useestimates. Sensitivity analysis allows him to determine what level of accuracy is necessaryfor a parameter to make the model sufficiently useful and valid. If the tests reveal that themodel is insensitive, then it may be possible to use an estimate rather than a value withgreater precision. Sensitivity analysis can also in dicate which parameter values arereasonable to use in the model. If the model behaves as expected from real worldobservations, it gives some indication that the parameter values reflect, at least in part, thereal world. Sensitivity tests help the modeller to understand dynamics of a system.Experimenting with a wide range of values can offer insights into behaviour of a system inextreme situations. Discovering that the system behaviour greatly changes for a change in aparameter value can identify a leverage point in the model- a parameter whose specificvalue can significantly influence the behavior mode of the system. (https://sysdyn.clexchange.org/sdep/Roadmaps/RM8/D-4526-2.pdf) 3(a) What is Sensitivity Analysis? Sensitivity analysis is a strategy that is helpful in determining what could happen if a specific variable within a projection fails to function as originally envisioned. The idea is to identify possible deviations that could occur if one or more variables are changed or discarded, and how those changes would affect the eventual outcome. From this perspective, this type of analysis makes it possible to prepare for outcomes other than the desired goal, thus minimizing the ill effects if those variables do fail to perform or influence as anticipated. Within the process of conducting a sensitivity analysis, it is possible to look at each factor or variable that has relevance to the projected outcome. For example, if an business anticipates that launching a new product will result in an increase of twenty-five percent in annual earnings, the analysis may look at how the earnings would be affected if consumer response were only half as enthusiastic as originally predicted. As part of the development of different scenarios where a given variable failed to function as projected, the matter of an increase in the cost of raw materials may also be considered, determining what impact that increase would have on the profits earned by the new product line. While there are exceptions, a sensitivity analysis does not typically include the development of scenarios that have below a certain potential for actually coming to pass. Instead, the process focuses on identifying and projecting the outcome if certain variables that do have at least a reasonable chance of taking place should occur. For this reason, the sensitivity analysis tends to remain somewhat grounded in facts and makes use of those facts in creating the alternative scenarios. What is considered a reasonable scenario will vary somewhat from one industry to the next, and will depend a great deal on general economic conditions as well as factors that apply to the industry where the business operates and the i nternal function of the business itself. (https://www.wisegeek.com/what-is-sensitivity-analysis.htm) 3(b) Application of Sensitivity Analysis Sensitivity Analysis, in other words, is a procedure that analyses how the changes of certaininput values (income, costs, value of investments, etc.),produced due to inappropriate prediction or for someother reason, influence certain criteria values and thetotal investment project evaluation. Applying thisanalysis it is possible to analyse the maximum or minimum points which one value may take while, however, still allowing an investment project to be justified andacceptable for realization. In the investment project evaluation we have at ourdisposal a set of criteria (Net Present Value, InternalRate of Return, Pay-back Period, etc.) as the basis for evaluation (set of output values), and the set of values(income, costs, discount rate, value of investments,etc.) on the basis of which we can calculate certain individual criteria (input values), as shown by the diagram. Input Values Output Values CALCULATING VALUES FOR INDIVIDUAL CRITERIA Net Present Value Int ernal Rate of Return Payback Period (Calculation of individual criteria using input and output values) Net Present Value The Net Present Value criterion is defined as a sum ofpresent values of annual net incomes earned in theperiod of the project exploitation. Mathematical expression of this criterion is: NPV= ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‹Å"ÃÆ' ¢Ãƒâ€šÃ‚ Ãƒâ€šÃ‚ ¿ value (1+rate) value net cash flow occurs at the end of each period i rate discount rate used to discount the cashflow n time period of the project The word net in net present value indicates that our calculation  includes the initial costs as well as the subsequent profits. It also reminds  us that all the amounts in the income stream are net profits, revenues  minus cost. In other words, net means the same as total here. (https://hadm.sph.sc.edu/courses/econ/invest/invest.html) Internal Rate of Return one of the uses of IRR  is by  corporations that wish  to compare capital projects.  For example, a corporation will evaluate an investment in a new plant versus anextension of an existing plant based on the IRR of each project. In such a case, each new capital project must produce an  IRR that is  higher than the companys  cost of capital. Once this hurdle is surpassed, the project with the highest IRR would be the wiser investment, all other things being equal (including  risk). IRR is also useful for corporations in evaluating stock  buyback  programs. Clearly, if a company allocates a substantial amount to a stock buyback, the analysis must show that the companys own stock is a better investment (has a higher IRR) than any other use of the funds for other capital projects, or than any acquisition candidate at current market prices. Calculating IRR The simplest example of computing an IRR is by using the example of a mortgage with even payments. Assume an initial mortgage amount of  £200,000 and monthly payments of  £1,050 for 30 years. The IRR (or implied  interest rate) on this loan annually is 4.8%.  Because the a stream of  payments  is equal and spaced at even intervals, an alternative approach is to discount these payments at a 4.8% interest rate, which will produce a net present value of  £200,000. Alternatively, if the payments are raised to, say  £1,100, the IRR of that loan will rise to 5.2%. The formula for IRR, using this example, is as follows: Where the initial payment (CF1) is  £200,000 (a positive inflow) Subsequent cash flows (CF  2, CF  3, CF N) are negative  £1050 (negative because it is being paid out) Number of payments (N) is 30 years times 12 = 360 monthly payments Initial Investment is  £200,000 IRR is 4.8% divided by 12 (to equate to monthly payments) = 0.400%   Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€š Payback Period(PBP) Payback Period  is a financial metric that answer the question: How long does it take for  an investment to pay for itself? Or, how long does it take for incoming retuns to cover costs? Or, put still another way: How long  does it take for  the investment to  break even? Like other financial metrics such as  Ãƒâ€šÃ‚  internal rate of return (IRR)  and return on investment (ROI),  payback period  takes essentially an Investment view of the action, plan, or scenario and its estimated  cash flow  stream.  Each of these metrics compares investment costs to investment returns in one way or another.  Payback period is the length of time required for cumulative incoming returns to equal the cumulative costs of an investment (e.g. purchase of computer software or hardware, training expenses, or new product development), usually measured in years. Other things being equal, the investment with th e shorter payback period is considered the better investment.  The shorter payback period is preferred because: The investment costs are recovered sooner  and are available again  for further use. A  shorter payback period is viewed as  less risky. It is usually assumed that the longer the payback period, the more uncertain are the positive returns. For this reason, payback period is often used as a measure of risk, or a risk-related criterion that must be met before funds are spent. A company might decide, for instance, to undertake no major investments or expenditures that have a payback period over, say, 3 years. Conclusion There is clearly much more to the use of a decision support model than finding a single optimal solution. That solution should be viewed as the starting point for a wide ranging set of sensitivity analyses to improve the decision makers knowledge and understanding of the systems behaviour. Even without undertaking the relatively complex procedures which explicitly involve probabilities in the sampling of scenarios or interpretation of results, sensitivity analysis is a powerful and illuminating methodology. The simple approach to sensitivity analysis is easy to do, easy to understand, easy to communicate, and applicable with any model. As a decision aid it is often adequate despite its imperfections. Given its ease and transparency, the simple approach to SA may even be the absolute best method for the purpose of practical decision making. Sensitivity analysis is an important tool in the model building process. By showingthat the system does not react greatly to a change in a parameter value, it reduces themodelers uncertainty in the behavior. In addition, it gives an opportunity for a betterunderstanding of the dynamic behavior of the system. Sensitivity analysis  investigates what happens to the NPV and IRR of the project when one or more variables change. The idea is that we freeze all the variables except the one(s) analyzed and check how sensitive the NPV and/or the IRR are to changes in that variable. (https://cyllene.uwa.edu.au/~dpannell/dpap971f.htm)