Wednesday, July 31, 2019

Nike Competitive Advantage

* 1. MGMT65000 – Strategic Management – spring 2011 Test 1 By: Divya Mishra School of Management Purdue University Calumet Submitted to: Dr. Arifin Angriawan1|Page * 2. Company profile & backgroundNIKE, Inc. is engaged in the design, development and worldwide marketing of footwear,apparel, equipment and accessory products. . It sells its products to around 18,000 retail accountsin the United States and through a mix of independent distributors, licensees and subsidiaries innearly 200 countries. NIKE is the largest seller of athletic footwear and athletic apparel in the world. The Company creates designs for men, women and children.The top selling product categoryincludes running, basketball, childrens, cross-training and womens shoes. It also designs shoesfor outdoor activities like tennis, golf, soccer, baseball, football, bicycling, volleyball, wrestling,cheerleading, aquatic activities, hiking and other athletic and recreational uses. Index membership Sector Industry EmployeesS&P 500 Consumer Cyclical Footwear 23,300ProductsNIKE sells sports attire and accessories relevant to each sport mentioned above as well as othersports-inspired lifestyle apparel, like bags, socks, sport balls, eyewear, protective equipment,basic sport equipment, etc.In addition to NIKE’s footwear, apparel, and accessories businesses, the Company sells productsunder other brand names in particular markets. NIKE wholly-owns five footwear and apparelcompanies that specialize in different sports: Cole Haan, Converse Inc. , Hurley InternationalLLC, Umbro Ltd. , and NIKE Golf. These subsidiaries combined together account for 13% oftotal revenues, $2. 5 billion, in fiscal 2009. Manufacturing Footwear & ApparelAll of NIKE’s footwear is manufactured outside the United States in the factories of China,Vietnam, Indonesia, and Thailand and account for 98 percent of total NIKE brand footwear in2009.The main raw materials used in NIKE footwear are rubber, plastic compound s, and foamcushioning materials, nylon, leather, canvas, and polyurethane films used for cushioningcomponents. NIKE brand apparel is also manufactured almost entirely outside of the United States, in 34different countries. The main materials used in NIKE apparel are natural and synthetic fabricsand threads, plastic and metal hardware, and water and heat resistant fabrics. Marketing and AdvertisingNIKE places a significant weight on marketing the company and its products.NIKE aggressivelybonds the contracts with highly successful and influential athletes, coaches, teams, and leagueslike Michael Jordan, Serena Williams, and Tiger Woods to popularize its footwear, apparel andsports accessories. In order to sustain its dominance in the industry and stay competitive stay, NIKE activelyresponds to trends and changes in consumer preferences by adjusting the mix of existing productofferings, developing new products, styles and categories, and influencing sports and fitnesspreferences throug h aggressive marketing.Its primary areas of marketing remain Net TV andmagazines. 2|Page * 3. CompetitorsThe rivalry in the sports wear industry is very high. NIKE competes with numerous athletic andleisure shoe companies worldwide. It faces fierce competition in product offerings, technologies,marketing expenditures, pricing, costs of production, and customer services. The maincompetitors are Adidas, Reebok, Timberland, Woodland, and Puma.SWOT Analysis for NIKE Strengths Weaknesses Brand recognition Overseas manufacturing High product quality dependency Effective marketing Decreasing United States strategy market share Capacity of innovation High product price Strong distribution chain compared to Adidas Strong R&D Currency exposure Strong customer Medium retail presence relationship/satisfaction SWOT Analysis Opportunities Threats Expansion into emerging Fierce industry competition markets Revenue relies on Increased demand in product consumers’ discretionary innovation inc ome Growing segment of women Economic rescission athletes Fluctuation in the currency Increase in the number of sports events like Olympic, FIFA3|Page * 4.NIKE Innovations NIKE with Apple: The NIKE+ package consists of a pair of specially designed NIKE+ running shoes, an iPod nano, and a NIKE + iPod sport kit. The kit consists of a sensor that fits into a built-in pocket beneath the insole of the left shoe and a receiver that fits into the iPod nano dock connector. As a person runs, iPod tells the distance, pace, and calories burned via voice feedback that adjusts music volume as it plays. (Google image) Design your own shoes: NIKE allows customers to design their own shoes from a catalogue of predefined designs. Customers can choose their own colors and mascots to create shoes which define their personality.It provides Touch screen technology in store allowing customers to design shoes of choice. (Google image) Nike self lacing automatic shoes: NIKE is also coming up with the new a utomatic self lacing sneakers. The automatic lacing system provides a set of straps that can be automatically opened and closed to switch between a loosened and tightened position. 4|Page * 5. Critical data of Nike Annual Report$ Millions 2010Net Income 1,906. 7Current Liability 3,364. 2Total Assets 14419. 3Tax Rate 24. 2%Interest Rate 6. 35%Long-Term Debt 445. 8Return on Equity 19. 54%Total Equity 9753. 7Weighted Average Cost of Capital 8. 9%Capital Employed 11055. 1Interest Expense 6. EBIT 2516. 9NOPAT 1907. 81Return On Capital Employed 20. 7%Economic Value Added 1267. 25Cash Flow From Operations* 3164. 2Capital expenditure* 335. 1Free Cash Flow 2045. 31Five year Nike stock performance vs. S&P500* (Fiscal year 2006-2010) 2% Nike S&P500 90%5|Page * 6. 2010Nike revenue growth 2006-2010 Nike Revenue 25000 20000 Revenue 15000 10000 5000 0 2006 2007 2008 2009 2010 YearNike revenue generation by product 2010 Revenue Generation by Product 6% 34% Footwear 60% Apparel Equipment6|Page * 7. 1. Please use Figure 2. 3 page 53 (Grant’s textbook, 7th edition) as your overall guide to draw a balanced scorecard for the firm.Please draw a balanced scorecard for the firm that you choose. Identify all four perspectives, each perspective’s objectives and their relationships. See example in the appendix. Feel free to modify it. On the other pages please elaborate on the four perspectives and their elements. For the financial performance perspective, at least you need to discuss: ROCE, EVA, and FCF. Conclude what the numbers mean to you as a manager (e. g. Good, bad, or neutral; and why). Why do firms need to prepare a balanced scorecard? (20 points) Balance Scorecard for NIKE 2010FINANCIAL GOOD–NEUTRAL †¢ ROCE : 17. 8% Neutral †¢ EVA: 1267. 25 millions Good †¢ FCF : 2045. 1 millions Good †¢ ROE : 19. 54% Good †¢ Profit Margin :10. 03% Good †¢ NIKE growth: 7% vs. industry growth Good 4. 5% Bad †¢ High advertising cost Good â € ¢ Better COGS% than competitorsCUSTOMER GOOD-NEUTRAL †¢ Customer Satisfaction Good †¢ Customer Loyalty Good †¢ Customer retention ratio Good †¢ Market Share Good †¢ Competitive Price Bad †¢ Number of Customers Good Good †¢ Design own shoes optionINTERNAL GOOD †¢ Marketing Innovative Products Good Celebrity endorsement Good Diversity of online product Good †¢ R&D Integrated researches Good Product technology Good High quality product design Good †¢ Good supplier relation Good †¢ IT for inventory control Good7|Page

Tuesday, July 30, 2019

Research Survey on Use of Opportunity Cost in Project Evaluation

RESEARCH SURVEY ON USE OF OPPORTUNITY COST IN PROJECT EVALUATION AT SELECTED COMMERCIAL BANKS IN THE KINGDOM OF BAHRAIN A RESEARCH PAPER PRESENTED TO THE SCIENTIFIC RESEARCH AND DEVELOPMENT OFFICE AMA INTERNATIONAL UNIVERSITY KINGDOM OF BAHRAIN BY MUBEEN FATIMA August, 2012 ABSTRACT Accounting and Economics work for two different purposes. Today managerial decision making uses economics, as well as accounting concepts, methods & practices of scrutiny given by decision sciences.Literature shows that there are four basic tools and techniques of decision making used by economists, these are; augmentation, statistical valuation, projecting, numerical study, and game theory, most of which are equally procedural in nature they helps us to gather the idea of how decisions are made in economics. Since resources are limited relative to wants, the usage of resources in one way hinders their use in other means.This implies the cost of opportunity, which is lost, is actually the profit of whose output is given up, this indicates that, lost time, satisfaction or any other benefit that provides usefulness should also be taken as opportunity cost. Opportunity cost in literature is the cost referred as the next-best choice available to a rational consumer who has to select between a number of mutually distinct projects. It is, thus the key concept in economics. It has been illustrated as conveying â€Å"the basic relationship between deficiency and choice. Yet its relation to the economic profit is seldom discussed.CHAPTER 1 INTRODUCTION Background of the Study Prior research work provides us the idea that opportunity costs is one of the key differences between the concepts of economic cost and accounting cost. Being treated as a cost, opportunity cost had always been considered vital in calculation of the true cost of a project & has always effected a management accountant decision However the modern economists, particularly the Austrian school of thought treats opportunity cost as something that has neither existence nor has any importance in decision making.Though the field of economics gave birth to the concept of opportunity cost, the awareness about assessing the second best alternate is now taken over by management accounting, today this concept is being taught in academic graduate courses of economics however; in practice, the economists today emphasize on mathematical techniques in decision making there by ignoring various conceptual factors like opportunity costs and worth of projects being missed. Evaluating opportunity costs is important to find out the true cost of any project under consideration.If the financial worth of second best alternative of an investment project is low, then, overlooking that opportunity costs, gives an impression that benefits of next best alternative, cost practically nothing. The invisible opportunity costs then become one of the hidden costs of that particular project. Mr. John Stuart Mill, a British philosopher and a civil servant was the first man to give the idea of Opportunity Cost in his economic theory of free markets as well as explaining his concept of liberty and an individual and freedom of choice.Opportunity costs are thought of as the retrospective costs that cannot be recovered in the field of Economics and Corporate decision making. Opportunity costs are occasionally compared with â€Å"potential costs† which obviously are the future costs that may or may not incurr depending upon the decision taken. Both past aswell as prospective costs can be either static or dynamic Austrian school of thought pay attention to the concept of opportunity costs on both sides of the market links very deeply to the importance of finance and economic profit estimation in their model of the market process.They argue that the money of an investor having opportunity cost means that his money has many uses but the uses are not unlimited. With the assumption of a market with seamlessly exclusi ve capital goods, those goods will have no opportunity cost as every exclusive good has only one yield. In a market of seamlessly standardized capital goods, they have no opportunity cost because all of the goods are same in terms of use and benefit thus can be used equally well for each yield. In practice the calculation of project cost by an accountant is different from that of an economist.This variance is not grounded in different fundamentals on what to assess or how, but lies in the basic difference in understanding-of costs and profits. However if opportunity costs are not ignored by the economist then while calculating the GDP of Country the economist must also consider the large scale pearl diving industry in certain areas of Bahrain. Statement of the Problem The study aims to discuss the relevance of the concept of Opportunity Cost in project evaluation procedure adopted by commercial banks in Kingdom of Bahrain.The opportunity cost has different importance in the opinion of economists and accounts professionals and therefore the use of this concept in project costing . This research will attempt to find out importance of Opportunity cost while considering an investment proposal. Specifically it sought to answer the succeeding questions. 1. What is the status of the opportunity cost in project evaluation at Selected Commercial banks in Kingdom of Bahrain? 2. What are the banking operations where opportunity cost is deemed important by Commercial Banks in Kingdom of Bahrain? 3.What are the factors effecting the importance of opportunity cost faced by Commercial Banks in Kigdom of Bahrain? 4. What are the problems encountered in application of Opportunity cost concept by the Bankers while evaluating a project? Assumption The study assumed that the respondents are honest in answering all the questionnaire Significance of the Study The study is beneficial to the following: Decision Makers: the study will help the decision makers in Commercial Banking ind ustry to find the true cost of a project and therefore finding the true profit or loss generated by itFuture Researches: the study will help in relating the two concepts i. e, opportunity cost and Project Costing by using the quantitative methodology of research. It will further help in decision making and project evaluation for the accounts Managers and Economists. Scope and Limitation The aim of this study is to deliberate the significance of the concept of Opportunity Cost in project evaluation procedure adopted by Commercial banks in Kingdom of Bahrain. The opportunity cost has different importance in the pinion of economists and accounts professionals and therefore the use of this concept in project costing . The study includes Bank Officers at selected Commercial Banks working in Kingdom of Bahrain. The target population is Executives and managers (top and middle level ) who are directly involved in decision making This research focused on finding out importance of Opportunity cost while considering an investment proposalstudy is conducted in Commercial Banks of Bahrain, the responses therefore reflect the most important sector of Bahrain economy. The study is conducted in the natural settings i. during the business hours and responses are taken while the samples are on their work places, therefore 100 percent reliability of responses is not possible due to various un controllable distractions. The period covered by this study is January till December 2012. All the data is collected in Bahrain and responses therefore will represent the local population. Definition of Terms Opportunity Cost (OC) The cost of an alternative that must be forgone in order to pursue a certain action. Put another way, the benefits you could have received by taking an alternative action (John Stuart Mil)Economic Value Added (EVA) A measure of a company's financial performance based on the residual wealth calculated by deducting cost of capital from its operating profit (Stern St ewart) EVA is also referred to as â€Å"economic profit†. CHAPTER 2 Review of Related Literature and Studies Foreign Literature Mankiw ( 2000) from Harvard University USA and the author of† Principles of Microeconomics† explained here that Economic profits are calculated by using both explicit as well as implicit costs however Accounting profits are calculated using only explicit costs.Therefore , accounting profits are higher than economic profits Neale( 2001) have found that due to forgoing opportunity costs, delayed decisions can be seen as option between certain loss and the risk of greater or zero loss. Chung, (2005)from Princeton University have conclude in their work â€Å"The Opportunity Cost of Admission Preferences at Elite Universities† that economic cost of a decision relies on the cost of the project that is selected and also the profits that the second best alternative project may had given if selected.This perspective of scarcity of resource leads to the dimension of opportunity cost. Hawkins et. al ( 2008 ) in their article â€Å" Cost and benefit Analysis† are of the view that the â€Å"next best alternative† is an important concept in cost and benefit analysis (CBA). The benefits gone by not implementing the second favorite choice are known as opportunity costs. Opportunity costs are relevant in calculating costs of a project. Opportunity costs help in economic scrutiny. In financial investigation market values are used as the market price for man power has the market value same as a person’s wageThe Indian scholars are also of the view that Opportunity Cost of Idle Capacity Zero, supporting the work of (Coase 1938). The researchers of M2 Presswire publications have found that opportunity cost of ignoring the markets, have disastrous results as eBay failed to beat yahoo in this regard. Buchanan (1969 ) says that it is just to bind the term opportunity cost to this idea that only decision changing cost represents an analysis of given up â€Å"opportunities. † and to invent other vivid terms to mention ecision altering cost in a logic of choice and to the objective cost of the predictive theory. Hebert (1985 ) gave a very comprehensive idea about the market value. Yet his belief of fundamental value has quite possibly been a red-herring in the antiquity of economic analysis, according to him market value is sensitive to elements other than â€Å"on record costs† few of them are independent. Horwitz (2010) identifies the partiality of opportunity costs on either sides of the market connections so well to the importance of capital and economic calculation in the Austrian theory of the market process.Aherns (2008) says that management accountants’ most prior duty is to relate the available reserves with the future dealings of the business. Whereas this process is rather simpler in economics to determine which of the available alternates is going to pay off h ighest future cash flows Kearing et. al (2005) are of the view that multiple allocation of capital funds , commercial analysis and manufacturer side opportunity costs are all the unified part of the Austrian ideology. Woodbery (2000) says that the true opportunity cost of using the additional capability is the change in the worth of the firm's choices.By emphasizing on the state-contingent nature of best decisions, his framework distinguishes that the cost is not always identical to the present value of explicit venture or manufacturing decisions. Taylor (2005) suggests that many proficient economists may not completely comprehend opportunity cost. Frank (2005) said that comparative prices helps in finding out the comparative worth of ordained opportunities. His hypothesis is based on an indepth study of consumer indifferense curves. According to the author the economic cost is virtually the opportunity cost.Samuelson( 2009) puts stress on a close link between opportunity costs and cost of available resources. Economic cost consist of not only the noticeable monetary purchases or on record financial transactions but also more indirect opportunity costs, such as the profits on the manpower supplied by the owner of a resource company and other returns of similar nature. The factors mentioned are firmly controlled by the quotations available and demand in competitive markets. Henderson (2011), said that by â€Å"opportunity cost† of a resource, the economist mean the financial worth of the second favourite utilization of the available resource.Opportunity costs as in (Lawrance Gitman 2000) are those profits or returns that could be obtained from best alternative use of an a retained asset. So opportunity cost is the cash that shall not be obtained because of engaging an asset in project under consideration. Due to this, opportunity cost should be included as an expense or loss while doing the project evaluation. Raftery et. al(1999) writes that considerati on of opportunity cost is essential for the economist's while determining the costs. As resources are less compared to the needs, so application of resources in one profitable project hinders their use in other profitable pojectsBauman (2011) says that opportunity cost is the second best choice, he said that it is difficult to clearly frame the opportunity cost as identifying second best choices is a knotty matter. According to him the concept of opportunity cost can only be clearly defined in academic problems as in practical field a project â€Å"price to worth† calculations are complex Kimberly (1998) said that computerized accounting systems today solely emphasize on cash in and out of the firm, this eventually attracts clever dealers to dump credits that produce a big accounting profits.By the introduction of opportunity cost in persuit of calculating the true costs enforces further control on reporting process. Such concept implication helps the auditors to identify the fake earnings shown in the financial statements made in the year end. Recklies (2001) argues that from economic perspective the cost include all those expenditures that are crucial for perpetual succession of a business as as going concern, it also consist of the reimbursement for owners in shape of profit so that they maintain their investment portfolio within the firm.Marshall (2009) identifies the income as a total of personal skills, capital funds invested, assets possessed and the reputation of the business. Leeson (2008) has explained in his research work the uses if the concept of uncertainty and derives from this concept of the value of information and how it can be calculated. And emphasized upon the role of management accounting in the decision-making Berntell (2005) have focused on the optimum utilization of scarce resources like water to give maximum utility by reducing various costs and losses. For which economist must make a clear cut cost and benefit analysisDmytrenk o (1997 )has elaborated in his price to value investigation the opportunity cost of increased automation in a firm via changing the human resource by computers and equipment Caplan (2003) says that the term opportunity cost is sometimes confusing. Sometimes it is used to submit to the profit foregone from the next best option, and Often it is used to mention the difference in benefit of decision made and the benift of second favourite decision that is given up Fraker( 2006) suggests that EVA is a unique financial performance determining tool .Unlike other financial efficiency ratios, it gives a different outlook of a Bank’s financial health by including the cost of Capital employeed in the business and is more of concern to its shareholders. Shcherbakov( 2012) explains that implication of the concept of EVA is an enhanced measuring technique to find out the effect of internationalization on the commercial performance of any business King (2009) explained that Accountancy and Economics work for different purposes. He explained the multi-national corporation scenarios and compared the use of economic profits with that of accounting profitsLocal Literature (Hasan Al-Basteki 1998) worked on the use of modern Accounting techniques in the decision making in Bahrain and he concluded that not just the western world is implementing the new costing techniques but the middle east is also adopting the modern techniques Synthesis of the Literature Review The synthesis of the literature reviewed enlightens few similarities and differences with this research studies . The main similarities found in the literature are as follows i) Opportunity cost has been used in different parts of the world particularly in Banks and Construction industry ii) The No. f alternatives available influence the Opportunity Cost iii) Economic factors like inflation has effect on the project evaluation by the Banks . A closer review of these research papers show that Economists belonging to the Austrian school of thoughts are of the view that i) Opprtunity cost is not as important as Economic Profits are for economic decision making ii) Scarcity of resource is a factor which effects the decision makers approach The literature explains the significance of opportunity cost in framing the actual picture of the financial position of a company, same is the case evaluation of an investment project.Opportunity cost helps identifying the true cost of a project Opportunity cost is important in the determining the accurate financial position, hence in this research the relationship between the factors effecting opportunity cost and decision making is under study Theoretical Frame Work The study tends to explore the Opportunity cost and EVA for a given project in order to understand their relationship with each other. Very little literature is available in Economics and Accounting to determine the true profits of an organization(Denise Woodbery).The idea behind this research is t o establish the nature of relationship between Economic value added that reflects the monetory importance of a given project or in other words the economic profit and that of Opportunity Cost that reflects the accounting profit of the same project. Conceptual Frame Work The idea behind this research is to find out how effective is Opportunity cost in project evaluation perceived by the Bankers in the Kingdom of Bahrain.The data is collected and analysed to understand what status opportunity cost concept holds in project financial evaluation and its relative efficiency perceived by the bankers at selected commercial banks of Kingdom of Bahrain The study tends to explore the two concepts for a given project in order to understand their relationship with each other. The Opportunity cost as discussed in literature like any other relevant cost adds to the overall project expenditure (Ferraro & Laura O Taylor)Opportunity cost effects the total Cost of a Project , any increase in Opportuni ty cost means increase I nthe total cost of the project The higher the Opportunity Cost of a Project is the Smaller will be the net profit of it However the higher the net profit of the project is Opportunity Cost of the Project will be lower. Financial decision making tends to go for a project with smaller cost and hence inclusion of opportunity cost will alter the project cost and alter the decision ultimately.Various factors like availability of alternatives (James Raftery 1999), Scarcity of resources (Robert Frank 2005), Economic factors like trade cycle recession, inflation (Peter T leeson 2008) effects the use of opportunity cost in Project costing CHAPTER 3 RESEARCH METHODOLOGY This chapter presents the research design and methodology, sampling design, respondents of the study, research instrument, validity and reliability of the instrument, data gathering procedures, and statistical treatment of the gathered data.Research Design This study used the descriptive type of resear ch which involves assembling data which provide knowledge about the variables and then systematically tabularizing, portraying, and defining the data gathered (Glass & Hopkins, 1984). To get evidence concerning the current standing of the incidences to describe what happens in terms of change in value of the variables or settings in a state of research.. Opportunity Cost reflects the monetary importance of the next best alternative project.The study helps to find out how effectively this concept is incorporated in project evaluation procedure Research Design This is a descriptive research in which the population from which data is collected are the Management Personals from different business concerns established and working in Kingdom of Bahrain, directly or indirectly associated with the decision making and investment evaluation . Respondents of the Study The target population includes the working class particularly the managers , assistant managers and executives who work in Bahr ain and their field esponsibility include Investment Analysis ,Project evaluation and decision making of similar nature. Sample Size The sample size is 50 and the response rate is well above the international standard of quantitative research required to validate the result of the study Sampling Design There are many methods of sampling; however for this study Random Sampling is used that is from the target population a sample of 100 is collected on random basis.The study uses random sampling for convenience and to avoid bias of respondents that work in one organization have one opinion(as in cluster sampling) Research Instrument The instrument used in this study is Questionnaire, the content of the questionnaire that consist of 20 queries the first five of which are about the general information of the respondent, remaining queries for which the respondents will answer on a Likert Scale. All the queries will help to find the relation between the two variables Opportunity Cost (IV) and Decision Making (DV)Part I: Provide demographics of the respondents in terms of age , gender, educational attainment, work experience in years Part II: Provide the data about the respondents opinion on various factors that influence their decision while making financial evaluation of a project. The answers to these questions will be given on a five point rating scale. 5. Strongly Agree 4. Agree 3. Moderately Agree 2. Disagree 1. Strongly Disagree Validity of the InstrumentThe validity of instrument is carefully checked by the research committee that includes research professors, statisticians and advisors. The recommendations were incorporated. The justification of this validation was to avoid vague items and bias statements which have been correctly achieved. Reliability of the Instrument The questionnaire is pre-tested to test the reliability of it, with a small group of individualsworking in different companies in the Kingdom of Bahrain, in order to check their understanding of the questions.Data collection Method Questionnaire copies were distributed among bank officers in different branches of distinct commercial banks in various regions of Kingdom of Bahrain. The target respondents are expected to be acquainted with the subject and questions, included in the questionnaire. There are other methods of data collection like documentary analysis and interview however for this study survey methodology is opted. A copy of questionnaire is provided in the appendix Statistical Treatment of the DataThere are many choices of appropriate statistical methods however Correlation Coefficient as statistical method is used, so to find out the relation between the two variables. The survey form was used the Likert five point scale for the respondents to choose from as follows: [pic] Very few enterprises are using opportunity cost for just one reason. It is clearly evident that Opportunity cost related information is being used to accurately manage wide range of activi ties across a banking organization. Activities influenced by Opportunity cost calculation Activities |% of respondents | |Product Costs & Profitability |65 | |Performance Measurement |47 | |Shared Service Costing |41 | |Planning & Budgeting |40 | |Customer costing |38 | |Customer/Channel Costs & Profitability |38 | |Transfer pricing |25 | |Outcome / Output based management |25 | Expectedly, opportunity cost is used for product costing by approximately two by three of those respondants working in banking sector. It’s precision over traditional costing methods is borne out later in the survey with 87% finding that their Opportunity Cost product costs differed substantially from traditional costing methods, leading around 50% to reprice their products as a result!Validating the views expressed by Kaplan & Norton in their latest book ‘Strategy Maps: Converting Intangible Assets into Tangible Outcomes’, which lays emphesisis on the importance of using Opportunity Cos to support a Balance Scorecard, nearly half of all respondents are using their Opportunity Cost data to support their Performance Management The use of Opportunity Cost to support Shared Services costing has increased in popularity over the last few years. Now that internal services are represent up to 30% of an organisation’s costs, it has become imperative to accurately reflect how those services are consumed by business units. Over 40% of respondents are using opportunity cost to support Shared Service costing, enabling them to understand who and what is driving consumption of their internal services, and thereby increasing the effectiveness of their focus an core business. These trends are repeated by those who do not yet use opportunity cost, but are planning to. They want to use opportunity cost to support Initiative |% of respondents planning to use OPPORTUNITY COST | |Product Costing |55 | |Planning & Budgeting |36 | |Customer costing |27 | |Process/Continuous Improve ment |27 | The most noticeable difference is that only 18% are planning to use the information to support Performance Measurement. This could well be because the ease of which opportunity cost lends itself to Performance Measurement is not evident until an opportunity cost is up and running.Alternatively, the respondents may be looking to introduce opportunity cost to solve a pressing business requirement, and the links between Opportunity Cost and performance metrics are not immediately apparent. Opportunity Cost for Planning The emphasis of Bankers has moved from historical costs to future costs. An enormous 94% of those questioned are now using opportunity cost, or plan to use, opportunity costs for developmental drives. Opportunity cost Planners are looking at all aspects of their organisations in order to identify improvement opportunities. Some 60% are looking to identify process improvements, with 55% looking at activity level improvements via resource planning, and 49% looki ng to affect strategy formulation. However, only 13% are questioning their organisation’s process design in a fundamental way.Consistent with historic uses of opportunity Cost planning data is being used to support a variety of initiatives, although there is a surprising focus on opportunity cost for goal setting. |Initiative |% of OPPORTUNITY COST Planners | |Shared Service Costing |51 | |Product Costing |49 | |Defining team/dept goals |27 | |Defining organisational goals |13 | Product/Service Costing and Customer ProfitabilityBy using cause and effect tracing rather than allocations, opportunity cost better reflects the value chain of how organisations consume costs and provides more accurate product, service and customer costings than achieved using traditional costing techniques. The difference in opportunity cost product costs to absorption or other allocation based costings can be dramatic. The survey shows that 87% of practitioners found that their product and service costs differed from traditional costings markedly. The majority had an average variation of between 5 and 10%, which can be dramatic at a gross or net margin level. However, a surprising number of respondents (11%) experienced variations of over 100%! |Average variation |% |Maximum variation % | |0 |13 |; 10% |25 | |1-5% |15 |10-25% |17 | |5-10% |26 |25-50% |25 | |10-15% |13 |50-75% |14 | |15-20% |10 |75-100% |8 | |; 20% |23 |; 100% |11 | Cost Reduction and Process ImprovementThat ABC can improve your bottom line is beyond doubt, with potential cost savings amounting to 25% of cost bases being identified. Some organisations are yet to find where they can reduce their costs, but it is worth noting that over 70% of those who have not identified cost savings have less than 100 activities in their model. Whilst it is important to prevent ABC models become too large and unmanageable (primarily because they can induce analysis paralysis), it is essential that a reasonable level of detail is available, so that there is sufficient information on which to make cost reducing or revenue enhancing decisions. After all, profit outcomes are the result of process design and activity workflow†¦ Maximum potential cost saving as a % of cost base |% | |0% |18 | |1-5% |21 | |5-10% |33 | |10-15% |8 | |15-20% |13 | |20-25% |2 | |;25% |5 | A variety of methods are being used to help organisations translate their ABC data into real cost reductions. Cost driver analysis is the most frequently used method for aiding cost reduction and/or process redesign, with 67% of organisations using this technique. Process mapping and benchmarking are also popular, as is repricing of products and/or services, and analysis of the value that an activity adds to an organisation. Top techniques used to aid cost reduction |% | |Cost driver analysis |67 | |Process mapping & redesign |52 | |Benchmarking |52 | |Repricing |50 | |Value adding analysis |42 | |Product rationalisation |38 | |Value chain an alysis |32 | Conclusions ABC can, and does, add value to organisations. 96% of respondents have found the experience to be beneficial to their organisations, and 98% are expecting their implementations to deliver even more positive returns on their investment in the future Level of benefit delivered by ABC |% achieved |% future | |Adverse impact |4 |2 | |Negligible benefit |22 |13 | |Moderate benefit |54 |60 | |Substantial benefit |20 |25 | Regardless of the benefit analysis above, respondents recommend the use of ABC unanimously! In particular, practitioners recommend using ABC for product costing and cost reduction, to derive the most benefits, although there is a general belief held by ABC practitioners that the methodology should be broadly used as shown below. ABC supporting |% of organisations | |Product/service costing & profitability |80 | |Cost reduction |65 | |Continuous Improvement Program |56 | |Business Process Re-engineering |55 | |Shared Services Costing |51 | |Custom er, channel or value chain analysis |44 | ABC is generating real benefits for all sorts of organisations across Australia. These benefits can only increase as more organisations are looking to start an ABC project for the first time, but the full potential of ABC will not be realised as so many existing ABC users are still not employing ABC to its full capabilities. It is important that experienced ABC companies capitalise on their implementations to achieve the maximum possible benefits.Increasing the scale of an ABC project need not be an expensive, time-consuming process. There are cost-effective solutions that combine ABC, Process Mapping and Balanced Scorecard, to produce automated, regular reports with a minimum of manual intervention. With organisation-wide implementations providing much greater cost savings, expanding your ABC project can only be advantageous to your organisation’s bottom line. CHAPTER 4 Analysis and interpretation The data collection method for this study is survey questionnaire conducted face-to-face with 51 randomly chosen Bankers from various commercial banks in Bahrain from various cities. The questionnaire includes multiple choice, open-ended, and Likert scale questions.Some questions of the survey were adopted form various previous studies (Brierly et al. , 2001; Van Triest and Elshahat, 2007; Wijewardena and Zoysa, 1999). The data collection period ranges from October 2012 to November 2012. (1) general information on the business organizations and respondents; and (2) cost and management accounting practices. Table 4. 1 Information gathered from the first part of the questionnaire. |Bank Classification |Percent | |Commercial Banks |  40 | |Islamic Banks |  10 | |Other Banks |  1 | |No. f Employees |Percent | |10 to 49 |   | |50 to 99 |  90% | |100 and more |  10% | |Age of the Banks |Percent | |10 years or less |  10% | |20 year or less |  80% | |20 years or more |  10% | In the Table 1, Bank classifica tion, position of respondent, number of employees, and age of Banks are presented. In Bank classification, the highest percentage belongs to commercial banks (5banks), and â€Å"others† includes Banks dealing particularly in investment (1 bank) 4. 1. Product costing methodsThe respondents were asked to specify the cost factors they implement in an investment project costing. According to the answers, the most widely used costing factor is Financing cost (31 respondent), followed by opportunity cost (11 respondent) and loan process cost (9 respondents). In Table 2, which shows the detailed answers to this question, the most significant points are the financing cost widely by lower managerial levels, and that of opportunity cost largely by top managerial level. Primary cause for the financing cost by banks is that they offer more of the saving accounts than fixed deposit accounts. Table 4. 2 Most important Cost elements in an Investment Project Bank Classification |Financial Co st |Loan Processing Cost |Opportunity Cost |Other | |Commercial Banks |  20 |  3 |  3 |  0 | |Islamic Banks |  6 |  3 |  5 |  0 | |Other Banks |  5 |  3 |  3 |  0 | |Total |31 |9 |11 |0 | 4. 2. Complications faced in product costing The respondents were also asked to point out the difficulties they encounter in Investment project costing. Out of 51 respondents, 22 see the limited Complexity in cost evaluation as top difficulty (43 percent), availability of alternative resources(33. 3 percent), followed by economic instability (24. 7 percent). 4. 3. Role of Opportunity Cost in Management Accounting PracticesIn another part of the survey, which was adopted from Van Triest and Elshahat (2007)’s study, respondents were asked to score the role of opportunity cost in various financial analysis on a Likert scale of 1 (no role) to 5 (major role). To evaluate the results, one sample t-test was conducted (Table 4). The results showed that pricing decisions are t he most important area where opportunity cost is deemed important at an average of 4. 16, followed by customer profitability and activity analysis at 4. 07. Performance measurement and make or buy decisions with an average of 4. 04 and 3. 96 respectively are also important areas where opportunity cost is used. However, opportunity cost is not seen important in product mix decisions, and adding or deleting products as much as other areas. Management Accounting Practicies |Mean |S. D |t-test | |Pricing decisions |  4. 15 |  1. 146 |4. 29 | |Customer profitability |  4. 08 |  1. 034 |  4. 01 | |Performance measurement |  4. 03 |  1. 071 |  3. 714 | |Activity analysis |  4. 08 |  1. 120 |  3. 793 | |Make or buy decisions |  3. 96 |  0. 62 |  3. 576 | |Product mix decisions |  3. 54 |  1. 168 |  0. 289 | |Adding or deleting products |  3. 47 |  1. 370 |  0. 199 | Table 4. Results of one sample t-test for use of Opportunity cost in management accoun ting practicies (Test value=3. 5) |Management Accounting Practicies |Mean |S. D |t-test | |Pricing decisions |  4. 15 |  1. 146 |4. 9 | |Customer profitability |  4. 08 |  1. 034 |  4. 01 | |Performance measurement |  4. 03 |  1. 071 |3. 714 | |Activity analysis |  4. 08 |  1. 120 |  3. 793 | |Make or buy decisions |  3. 96 |  0. 962 |  3. 576 | |Product mix decisions |  3. 54 |  1. 168 |  0. 289 | |Adding or deleting products |  3. 47 |  1. 370 |  0. 199 |Furthermore, the findings are compared with the results of Van Triest and Elshahat (2007). The comparison indicated that two studies yielded parallel results. As seen in Table 5, first three items with the highest mean are the same. In both countries, pricing decisions, customer profitability, and performance measurement are the most prominent areas in which costing information is applied. Among the remaining four application areas, the rank of activity analysis is different. In this study, ac tivity analysis is the fourth in ranking, but it is the last in ranking in Van Triest and Elshahat (2007)’s study. Table 5. Comparison of results with the results of Van Triest and Elshahat (2007) Management Accounting Practices |Mean |Rank |Mean* |Rank* | |Pricing decisions |  4. 15 |  1 |  4. 44 |  1 | |Customer profitability |  4. 06 |  2 |  4. 19 |  2 | |Performance measurement |  4. 06 |  3 |  4. 11 |  3 | |Activity analysis |4. 08 |  4 |  2. 33 |7 | |Make or buy decisions |3. 99 |  5 |  3. 5 |  4 | |Product mix decisions |  3. 54   |  6 |  3. 33 |  5 | |Adding or deleting products |  3. 50 |  7 |  2. 89 |  6 | * The results of Van Triest and Elshahat (2007) 4. 5. The ratio of opportunity cost to total cost In the questionnaire survey, the ratio of opportunity cost to total cost (O. C/T. C) was also questioned. Overall mean for all the banks is 34. 48 percent. (Table 6) was conducted to see the significant differences a mong banks. The results showed that there is a significant difference among industries (significant at 0. 10).Duncan test from Post Hoc tests showed that Commercial Banks has the highest OC/TC ratio and is significantly different than Islamic Banks and Investment Banks and miscellaneous Banks. Table 6. The ratio of opportunity cost to total cost (percent) 4. 6. The reasons for the increased interest in opportunity cost manifestation in banks dealing The respondents were asked to score the reasons for the increased manifestation of Opportunity cost in their daily dealing on a Likert scale of 1 (completely disagree) to 5 (completely agree). A list of reasons was provided for the respondents so that they evaluated each. The results of one-sample t-test in Table 7 showed that decreasing profitability (4. 9) is the primary reason which increases the importance of opportunity cost. Other reasons which increase the importance of opportunity cost are increasing costs (4. 57), increasing dom estic and global competition (4. 30), and economic crises (4. 23). Actually, means of four items above 4. 00 indicate that they are all factors considered important for the increased interest in opportunity cost . This means profitability of companies is decreasing, possibly due to increasing costs, and increasing domestic and global competition. Economic crises which hit companies from time to time are also important reason for the increased interest in opportunity cost identification and implication. Table 7.The reasons for the increased interest in opportunity cost Calculation (Testvalue=3. 5) |Mean |S. D |t-test | |Decreasing profitability |  0. 566 |14. 170   | |Increasing costs |  0. 666 |  11. 929 | |Increasing domestic and global competition |  0. 940 |  6. 450* | |Economic crises |  1. 020 |  5. 399* | Significant at 0. 001 level 4. 7. Perceived importance of opportunity cost in overall Banking Operation Lastly, the respondents were asked to evaluate the per ceived importance of Opportunity cost that are utilized in banking organizations on a Likert scale of 1 (unimportant) to 5 (very important). The results of one-sample ttest in Table 8 indicated that the most important management accounting practices in decreasing order are budgeting (4. 48), planning and control (4. 33), cost-volumeprofit analysis (4. 3), target costing (4. 16), quality cost reporting (4. 09), performance measurement and evaluation (4. 02), responsibility accounting (4. 0), standard costing and variance analysis (3. 89), and strategic planning (3. 78). Transfer pricing (3. 65) is unique practice that is significantly not important based on test value of 3. 5. These findings indicate that companies perceive traditional management accounting tools still important. For example, budgeting, planning and control, and cost-volume-profit analysis are perceived the most important of all management accounting practices. Quality costing and target costing as new management acc ounting practices are utilized by the companies. However, strategic planning, and transfer pricing are perceived the least important ones. This may be due to size of the sample firms.Since the sample consists mostly of small and medium-sized enterprises (according to number of employees), some tools may be too sophisticated to be utilized. Szendi and Shum (1999) states that the larger the firm the more sophisticated the management accounting system and the more likely isthe firm to utilize sophisticated management accounting techniques and practices. Abdel-Kader and Luther (2008) also proved that large firms adopt more sophisticated management accounting techniques and practices than small firms. Table 8. Perceived importance of Opportunity Cost in routine banking operations (Test value=3. 5) |Mean |S.D |t-test | |Budgeting |0. 754 |  9. 911** | |Planning and control |0. 819 |  7. 500** | |Cost-volume-profit analysis |  0. 871 |  6. 900** | |Target Costing |  0. 849 |  5 . 820** | |Total Quality Management |  1. 115 |  3. 890** | |Performance measurement and evaluation |  1. 027 |  3. 39** | |Responsibility accounting |  1. 056 |  3. 450** | |Standard costing and variance analysis |  1. 140 |  2. 480* | |Strategic planning |  1. 011 |  2. 050* | |Transfer pricing |  1. 300 |  0. 860 | ** Significant at 0. 001 level * Significant at 0. 05 level CHAPTER 5 Summary and Conclusion The survey revealed the perceived importance of Opportunity Cost at selected commercial banks in the Kingdom of Bahrain.The findings are expected to contribute to the existing literature about the subject, especially in developing markets. The major findings of the study are as follows: The most vital cost element for Commercial Banks is financial cost The complexity in loan costing poses as the highest ranking difficulty due to the availability of alternative projects, Customer Activity Analysis and pricing decisions are the most important area where op portunity cost is calculated (parallel to the finding of Van Triest and Elshahat, 2007), Overall mean of the ratio of overhead to total cost is 34. 48 percent for all Commercial Banks in the Kingdom of Bahrain,The highest opportunity cost/total cost ratio belongs to non-islamic Commercial Banks, Decreasing profitability, increasing costs and competition, and economic crises are reasons which increase the importance of opportunity cost The most important use of Opportunity Cost is in Budgeting out of all routine functioning of Commercial Banks (parallel to the finding of Chenhall and Langfield-Smith, 1998) The findings indicate that Banks perceive traditional management accounting tools less important. The new management accounting practices such as strategic planning, and transfer pricing are perceived more important than traditional ones. Therefore, the banks have been calculating the Opportunity Costs for these management accounting tools. Scope for further researchSince the sampl e consists mostly of medium sized local branches of International banks , they may not reflect the applications of large scale banking corps. Secondly, the results are confined to the Commercial Banks and should not be generalized to the other sectors. Thirdly, since the survey conducted on companies operating in Bahrain , the findings may not be generalized for the worldwide policies of the Banks. For future research, whole region wide and more comprehensive survey could be conducted with the participation of more banking companies from different countries. Moreover, case studies can be conducted to make more in-depth analysis about cost and management accounting practices.

Monday, July 29, 2019

Advantage and Disadvantage of Telecommunication

Although face-to-face communication would be the preferred method of conducting an intervention, it is likely that elephone interventions will be used by most pharmacies at some stage. This brief guide will help you and your staff communicate more effectively when using the telephone as part of the NMS. The words we use make up less than 10% of the way we communicate in a face-toface situation, with the way we say these words (paralinguistics) and body language making up the remaining percentage. When you are dealing with someone over the telephone you cannot see them, which deprives you of most of the information you would normally have about the other person (body language, eye contact etc). Related article: Disadvantages of Aquatic Plants You can base your judgements only on the words you can hear and the way they are being said, which can sometimes present challenges. Advantages and disadvantages Some of the advantages and disadvantages of telephone communication are: Telephone communication Advantages of communicating by telephone: †¢ ofteneasiertoreachsomeonebyphone than by trying to arrange to see them in person; more convenient for patients †¢ morelikelytosucceedincontacting someone – especially if a time / date has been agreed (few people are able to ignore the telephone and leave it ringing) telephoneconversationsare,onaverage, shorter than face-to-face conversations as it’s easier to control the conversation and take the initiative. Disadvantages of communicating by telephone: †¢ it’smoredifficulttoestablisharapporton the telephone, as you don’t have all the visual signals that help you to get on the â€Å"same wavelength† as the other person †¢ whenphonin gsomeoneit’spossibleto intrude at an inconvenient time and not realise it †¢ it’seasytoassumethatyouhavetheother person’s undivided attention †¢ youaremorelikelytogetdistractedand let your attention wander itismoredifficulttoavoid misunderstandings – you cannot use visual behaviour to get feedback on whether your message has been understood or if there are things left unsaid †¢ somethingsareimpossibletocheckover the telephone such as inhaler techniques †¢ youaremorelikelytobelieveyoucando other things at the same time as using the telephone – DON’T! Voice matching Thefirstthreesecondsofaphonecall are important, as this is when the other person makes a judgement about the caller. When making an outgoing call listen to the pitch, speed, volume and tone of the other erson’svoicewhentheyfirstspeakandtry to â€Å"match† it. Matching is a good way of building rapport, which can otherwise be difficultoverthetelepho ne,andmakesthe other person feel more comfortable. Tips for effective telephone interventions Opening the conversation NMS intervention Introduce yourself clearly and ask to speak to the patient using their preferred title / name. Check it’s still convenient to speak to the patient. If the patient is concerned about disclosing sensitive personal information over the telephone and cannot besatisfiedthatthecallerisringingfrom he pharmacy he / she may contact the pharmacy directly instead. Explain in a clear, simple manner the purpose of the call – check the patient understands the nature of the NMS and the reasons for the discussion. Youshouldalsoconfirmconsentatthis stage. Inform the patient you will be asking a series of questions about their new medicines and that you will be making notes as you go along. Listen to the patient’s responses as you work though the questions – resist the temptation to interrupt. Demonstrate you are listening by making noises such as â€Å"um†, â€Å"yes†, and â€Å"really†. Use assertive behaviour to stay in control of the call – use open / closed questions as appropriate (open questions invite detailed answers whereas closed questions invite single word answers). Body language Body language, even though it can’t be seen, can affect our voice when on the telephone. Therefore, think about your posture whilst on the phone. If you are comfortable and relaxed your voice is likely to reflect this. Remember to smile – even though it can’t be seen it will be â€Å"heard† and you will sound friendly and assertive. If you are standing up whilst n the telephone this can also make you sound more assertive, and it is another way of ending a telephone call if you stand up during a conversation. Using a closed question for example is often helpful in stopping an enthusiastic patient digressing from appropriate lines of questioning. Do not rush through the call. Talk at the patient’s pace and pause after providing advice or of fering solutions to a problem to allow the patient to air their views about this. Finally agree the time / date for any followup intervention. Remember to give the call your undivided attention! Advantage and Disadvantage of Telecommunication Although face-to-face communication would be the preferred method of conducting an intervention, it is likely that elephone interventions will be used by most pharmacies at some stage. This brief guide will help you and your staff communicate more effectively when using the telephone as part of the NMS. The words we use make up less than 10% of the way we communicate in a face-toface situation, with the way we say these words (paralinguistics) and body language making up the remaining percentage. When you are dealing with someone over the telephone you cannot see them, which deprives you of most of the information you would normally have about the other person (body language, eye contact etc). Related article: Disadvantages of Aquatic Plants You can base your judgements only on the words you can hear and the way they are being said, which can sometimes present challenges. Advantages and disadvantages Some of the advantages and disadvantages of telephone communication are: Telephone communication Advantages of communicating by telephone: †¢ ofteneasiertoreachsomeonebyphone than by trying to arrange to see them in person; more convenient for patients †¢ morelikelytosucceedincontacting someone – especially if a time / date has been agreed (few people are able to ignore the telephone and leave it ringing) telephoneconversationsare,onaverage, shorter than face-to-face conversations as it’s easier to control the conversation and take the initiative. Disadvantages of communicating by telephone: †¢ it’smoredifficulttoestablisharapporton the telephone, as you don’t have all the visual signals that help you to get on the â€Å"same wavelength† as the other person †¢ whenphonin gsomeoneit’spossibleto intrude at an inconvenient time and not realise it †¢ it’seasytoassumethatyouhavetheother person’s undivided attention †¢ youaremorelikelytogetdistractedand let your attention wander itismoredifficulttoavoid misunderstandings – you cannot use visual behaviour to get feedback on whether your message has been understood or if there are things left unsaid †¢ somethingsareimpossibletocheckover the telephone such as inhaler techniques †¢ youaremorelikelytobelieveyoucando other things at the same time as using the telephone – DON’T! Voice matching Thefirstthreesecondsofaphonecall are important, as this is when the other person makes a judgement about the caller. When making an outgoing call listen to the pitch, speed, volume and tone of the other erson’svoicewhentheyfirstspeakandtry to â€Å"match† it. Matching is a good way of building rapport, which can otherwise be difficultoverthetelepho ne,andmakesthe other person feel more comfortable. Tips for effective telephone interventions Opening the conversation NMS intervention Introduce yourself clearly and ask to speak to the patient using their preferred title / name. Check it’s still convenient to speak to the patient. If the patient is concerned about disclosing sensitive personal information over the telephone and cannot besatisfiedthatthecallerisringingfrom he pharmacy he / she may contact the pharmacy directly instead. Explain in a clear, simple manner the purpose of the call – check the patient understands the nature of the NMS and the reasons for the discussion. Youshouldalsoconfirmconsentatthis stage. Inform the patient you will be asking a series of questions about their new medicines and that you will be making notes as you go along. Listen to the patient’s responses as you work though the questions – resist the temptation to interrupt. Demonstrate you are listening by making noises such as â€Å"um†, â€Å"yes†, and â€Å"really†. Use assertive behaviour to stay in control of the call – use open / closed questions as appropriate (open questions invite detailed answers whereas closed questions invite single word answers). Body language Body language, even though it can’t be seen, can affect our voice when on the telephone. Therefore, think about your posture whilst on the phone. If you are comfortable and relaxed your voice is likely to reflect this. Remember to smile – even though it can’t be seen it will be â€Å"heard† and you will sound friendly and assertive. If you are standing up whilst n the telephone this can also make you sound more assertive, and it is another way of ending a telephone call if you stand up during a conversation. Using a closed question for example is often helpful in stopping an enthusiastic patient digressing from appropriate lines of questioning. Do not rush through the call. Talk at the patient’s pace and pause after providing advice or of fering solutions to a problem to allow the patient to air their views about this. Finally agree the time / date for any followup intervention. Remember to give the call your undivided attention!

Nissan Automotive Research Paper Example | Topics and Well Written Essays - 1250 words

Nissan Automotive - Research Paper Example For example, Renault acquired one-third shares of Nissan, but it was not contemplating on building Renault’s plant in Japan or shifting its model production in Japanese factories. Alternatively, Renault appointed a star manager, Carlos Ghosn, at CEO’s position in Nissan. Ghosn restructured the company, hence restoring Nissan to profitability (Crooks, 2010). This analysis suggests a simple model for FDI where Nissan as a heterogeneous investor bid to secure the control rights on proposed or existing overseas assets; the formulation is capable of explicitly considering more than two countries or market. The model avails a strategy utilized in bilateral FDI for analyzing bilateral trade in goods; its specification entails an inward effect showing characteristics pertaining to the destination country, an outward efficacy indicating the features of origin country, and a vector consisting pair-specific variables that reflect monitoring costs (Forum, 2010). The model is applied or estimated using five countries. In the second stage, the estimated outward and inward fixed effects related to variables that are predicted by the model. Then the formulation of the model is aggregated into yielding simple table used for each country’s share of the world Automobile FDI (Obashi, 2010). Many firms engage in FDI without exploiting the external markets directly via the exportation. They focus on location, internalization, and ownership advantages with internalization of intangible assets. Ownership advantage depends on the managerial and technological superiority of home country’s firm in relation to the hosting country firms. This superiority should be sufficient to deal with the extra costs incurred as a result from differences in business customs, informal and formal norms, and languages. As a result, the ownership is directly linked with control; hence control turns weaker when ownership

Sunday, July 28, 2019

Five Attitudes toward Quality Nursing Care Essay

Five Attitudes toward Quality Nursing Care - Essay Example Nursing profession is a most noble profession of all and apart from various skills it always harps on some traits or attitudes that need to be cultivated to fulfill the cause for which this profession is known. Florence Nightingale was perhaps the first nurse in human history in true sense to possess the traits for which she became popular at that time. She showed to the world that generous nursing attitude can make a lot of difference in the life of the patient. During the Crimean war, she visited military hospital at Turkey along with some women nurses and made terrific changes in the hospital. The mortality rate, which was at 40% when she entered the hospital, came down to just at 2%. That was the first recognition to the nursing profession that became an integral part of the medical treatment as an intimate care taker. Nightingale became a role model for future generations in nursing profession. (Quan, Kathy) Since then medical science has made a lot of progress in terms of facil ities and modern equipments but importance of nurse has never diminished. Attitude of Professionalism: The ICN code of ethics for nursing informs, â€Å"The nurse’s primary professional responsibility is to people requiring nursing care.† ... The process of communicating to the patient and obtaining consent regarding a course of treatment through patient's signature on a form is one of the important requisite as a frontline caretaker and this forms a part of professional attitude for the nurses. The patient’s consent is sacred and must be protected while undertaking any nursing procedure; however, when patient is incompetent for physical or mental handicap, due to age or unconscious state then consent is required from legal guardians in the best interests of patient. (David, Deena 2009) By virtue of nursing profession, they hold patient’s confidential information and nurses use judgment while sharing them. Respecting the confidentiality is one of the professional necessities on part of the nurse to form a bond of trust between patient and nurses. (Hendrick, Judith 2000) Nursing attitudes what is desired and what is not desired at times could be subjective but having heard one real life incident of one of the patient, it can certainly be outlined in more authentic way. The patient belonged to a big town in US where she was born and brought up. She was well aware of nodules in right breast but she assumed that they were merely benign cysts and that will go away after some time and she didn’t pay much attention on it. When she went for her annual well women visit she was asked to go for immediate mammogram and surgical consultation. She listened to the heed and fixed the appointment for a mammogram two weeks later. As she narrated, mammogram checkup was her distasteful experience. â€Å"Do these technicians and nurses really care?† that is what her first experience was. She was alone, unsure, afraid, and a bit confused. Professionals go through all this as per the daily routine and they

Saturday, July 27, 2019

Art, the visual and culture Essay Example | Topics and Well Written Essays - 500 words

Art, the visual and culture - Essay Example The Mona Lisa is a piece of work of a woman who is sitting and smiling, and it is the complete opposite of David, a man standing and grinning. Experts suggest that the two pieces of artwork are not a coincidence since they were both created at the same time with two men that were both living in Italy. The two artists were great rivals, and there still are endless debates who between the two was the greatest artist. The Mona Lisa is a painting while David is a chiseled work. The tools that were used to make David were hammers and chisels, files and rasps (Jones, 2010). The block of stone was from a quarry, and it had been left â€Å"badly begun† for over forty years. The outline of the artwork David is that of a shape drawing. One would think Michelangelo had drawn the outline of the sculpture before he started working on it. The face is almost turned 90 ° with a perfect triangle nose. The body proportion of the artwork is mathematically perfect. The hair is perfect, flying w ith the wind. The body of David is perfect with toned arms that have muscles (Jones, 2010). The statue of David is twice as tall as the height of an average man. A great piece of art. Mona Lisa is a painting that dwells in a thick picture atmosphere. Looking at the image, one would think has a suspense in a tinted liquid. The art is powerful because of its strange and universally accepted landscape (Jones, 2010). The art feels like a conclusion to the nature of life on earth. The painting has shadows, and the dark that is used to deepen her features are very bold. The effect of the shade is to diminish the distance between the background and the foreground. The shadows draw back Mona Lisa while the colors in the background bring the landscape closer to the viewer. The portrait cannot only have an interpretation as a woman with a landscape background, but the whole artwork is Mona Lisa’s lifestyle. Da Vinci spends a lot of his time on the artwork, and he did it until his final

Friday, July 26, 2019

The Effect of Death on Nursing Profession Assignment

The Effect of Death on Nursing Profession - Assignment Example This paper tells that it is one thing to see other people die, and it hurts, but it isn’t somebody you are really close to. When my father died it set off all sorts of emotions, and they pretty much controlled me for a while. But once I began to understand that my father was better off and in a better place, I began to see my life turn around. I have a new instilled hope in everything I did, and I knew I wanted to go back to work. Cope? I guess you could use cope. For a time that was really all, I was doing. Coping however is not the most healthy thing in the world. Eventually, you overcome that and grieve. And grieving, that came out mostly through music. Of course, there were a lot of late nights in there as well. *Laughs*  It just felt right. When I was making the album the entirety of everything I have seen and done all came together. My father's death has a huge impact, and in some way each death I had seen as well. It just felt like the right thing to do.  That's a t ough one. I could never see myself leaving nursing, but at the same time, If I could share my message and music to people all over and they enjoyed it, it would be hard to turn that down as well. I guess we will just have to see what happens and go from there. Maybe I could be a nurse musician. The most important thing to know when dealing with death is that it doesn’t have to be this crazy end of your lifetime. A lot of people downward spiral, and I did as well. It doesn’t have to be that. There is this surreal quality to death that most people miss. Is it sad? Yes. Do I wish it didn’t happen? Of course. But you have to accept it and enjoy life and not let death ruin what life you have left.

Thursday, July 25, 2019

Human Sexuality Topic (You can pick one from the sample topics in the Research Paper

Human Sexuality Topic (You can pick one from the sample topics in the instructions) - Research Paper Example des the acceptance of homosexuality into the society that involves sexual attraction to the same gender and in this case, the relationship between two males. Developing an understanding of this sexual orientation is important because there is conflicting literature regarding its existence. While there is a school of thought that believes homosexuality is as a result of genetic predisposition, opponents to this sexual orientation view it as behavioral. Homosexuality has been there since time in memorial and is now a visible reality within the society as another form of sexual orientation. In respect to ethical considerations, the question that linger in minds of many people emanate from a secular versus a religious point of view regarding same sex attractions. In the religious circles, homosexuality is a sin considering the belief that God’s plan for sexual relationships was between a man and a woman (Guittar and Pals 53). However, from a secular point of view every person has a right to choose the sexual orientation he or she desires. In secular terms, the society is liberal and nobody should question the behavior of another person as this amount to invading privacy. However, while homosexuals consider  their sexual orientation  as  normal behavior, the question that lingers in mind of many is why they hide their sexual orientation. In case it is a normal occurrence. Homosexuals are not always open and free about their sexual orientation partly because of personal reasons or fear of stigmatization. The topic of homosexuality is an important area of discussion because it is part and parcel of the modern society and in some western countries homosexuality is now legal. In this respect, it is important to understand the origins of homosexuality so as to avoid the conflict being witnessed between religious and secular views regarding homosexuality (Wright and Bae 492). While homosexuality has existed for ages, it is a sexual orientation that no one likes to talk

Wednesday, July 24, 2019

English midterm Essay Example | Topics and Well Written Essays - 1000 words

English midterm - Essay Example Greed triggered the people to find their own American dream riches (Hill 2). The Miller novel and movie story emphasizes certain factors affect the successful reaching the hard to pin down American dream. Mr. A. Miller’s novel and movie story correctly pertains to the average person’s elusive attainment of the coveted American dream during the 1940s (Benedek 1951). The novel shows Willy Loman’s difficulties affirm the American Dream is very wrong elusive (Miller 103). The novel shows Willy Loman failed in his wrong American dream to be one of the top sales persons in Brooklyn, New York City. Similarly, Willy failed in his dream to become one of the most sought after and well liked American environment sales persons. Further, the Miller story critically rightfully espouses Charles Darwin’s survival of the fittest animal kingdom concept influences the attainment of the American dream (Nelson 90). The concept states that there are many competitors for the scarce good and customers. Consequently only those who offer the best services and products to the target customers will survive. Those who fail to deliver quality goods and services will drive away current and future customers. This is the essence of the Willy Loman story. Furthermore, the Miller story correctly scrutinizes Mr. Willy Loman’s discussing having to survive in the saturated highly urbanized New York City community. Mr. Loman’s small and impoverished New York is dwarfed by the many bigger modern apartment buildings. The buildings crowd out the sunshine and fresh air from reaching the diminutive Loman home (Miller 8). Willy blames the maddening competition and the overcrowded New York City landscape for his failure to achieve his American dream, being one of North America’s top selling salespersons (Miller 9). Consequently, only the fittest American residents will survive the American’s economic rat race environment. The current and future customers will prefer

Tuesday, July 23, 2019

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

Musclar Sclerosis - Research Paper Example According to the National Multiple Sclerosis Society of the United States of America, there are 250,000 people in the country who suffer from this disease. Furthermore, it points out that the total number of people with this condition may be the double of this figure owing to the fact that many people do not chose to consult their physicians and misdiagnose their own condition (Rosner et al 2008 p7). The disease is considered to have a greater predisposition towards females and the ratio of the affected females to affected males is 2:1. The disease does not present in the early ages of life and nor are there any presenting cases after the fifth decade of life. Individuals are mainly affected between these age groups (Robbins et al 2005 p 1382; Mitchell et al 2007 p 887). Multiple sclerosis is not a congenital disease and it is a condition which affects a person later in life and is acquired. It is considered to be caused by an autoimmune mechanism. But definitive causes for this dise ase have still not been identified. It has been highlighted that the condition may also be stimulated and caused by external environmental factors. The condition is not infective and hence does not spread from one individual to another. Studies in the United States and England have highlighted interesting aspects of the disease and it has been seen that this pathological condition mainly affects the upper classes and it is more common in countries with proper hygienic measures. It has been seen that in the developing nations where the hygiene is low, the disease is not prevalent and it is hypothesized that these populations tend to acquire an immune mechanism against this disease. Furthermore, it has also been presented that the pathology is more prevalent in areas with lower temperatures (Robbins et al 2005 p 1382; Rosner et al 2008 p 8; Ganong 2005 p51). The disease has been suggested to be an autoimmune response of the body against the myelin sheath. This reaction of the body is considered to have a genetic link as well. This has been highlighted due to the fact that there is 15 times increased vulnerability of developing the condition if â€Å"first degree relatives† suffer from the disease. If one twin suffers from the disease, the other twin also has a high susceptibility of developing the condition (Robbins et al 2005). Multiple sclerosis follows a clinical course where attacks of the symptoms appear between intervals of weeks or months or years. These symptoms may even subside for extended periods of time and the patient retains normal functioning but they have a tendency to recur as well. With increasing time, the symptoms tend to subside but there may be long lasting damage to neurological function (Robbins et al 2005 p 1382). The disease presents with many symptoms which include optic neuritis and retrobulbar neuritis. The patient may complain of visual disturbances. The involvement of the brainstem tends to result in ataxia, nystagmus and in ternuclear opthalmoplegia. The spinal cord is also involved and the demyelination of the nerve fibers in the spinal cord results in problems of the motor and sensory conduction in the arms and the legs. The functioning of the urinary bladder is also affected and it loses its normal working. The patient may also present with an injury of the spinal cord which would not be painful. The patient may

Dystopian Society Present in 1984 and Fahrenheit 451 Essay Example for Free

Dystopian Society Present in 1984 and Fahrenheit 451 Essay The idea of a dystopian society is that of complete control, either through the use of a police state that has ultimate control over humanity and or the idea of man abusing technology to further gain control of its subjects. These ideas are very present in both novels. In 1984, the totalitarian state is technically and urbanely engineered to spy on and see peoples very thoughts. In Fahrenheit 451 a similar idea is used in the outlawing of literature and the use of denunciations to capture and punish those deemed to have broken the law. This essay is going to explore the idea of Man’s struggle against the society which seeks to break him, erasing the individual, resulting in the mindless slaves to society, the very idea that the authors warn against. In 1984, the constant barrage of information regarding the greatness of the state and Big Brothers supremacy over the common man forces everyone to consent and believe in the totalitarian state. The party justifies itself by eliminating the individual, giving power to everyone as being part of the collective power of the party as O’Brien mentions  «if he can escape from his identity, if he can merge himself in the party so that he is the party, then he is all-powerful and immortal  » the party’s belief that they control everything even human reality portrays how far a totalitarian government can go in achieving complete control of humanity. This can be clearly seen in 1984, where O’Brien tortures Winston to the point where he is capable of relinquishing all humanity, all common sense until the point where O’Brien tells Winston that two and two make five. Winston loses all sense of individuality to the point where conforms to the party and denounces his true love Julia. Through the use of fear and crushing oppression, the idea of love apart from love for big brother and the party is all that remains. Therefore the Party succeed in their aims, obedience through the use of force and fear. The central conflict of the novel is Man-vs. Society, as with Fahrenheit 451. Winston constantly struggled for individuality in a society were there is no â€Å"I† there is only ‘we†, individuality and freedom of expression is forbidden, punishable by death. The party wishes to control all of humanity, eradicating the â€Å"sex instinct†, O’Brien says  « we will abolish the orgasm  »  « there will be no loyalty, except loyalty towards the party. There will be no love, except the love of big brother†¦ there will be no art, no literature, no science  », in this, the party’s aims are clear. They seek to destroy what it is to be human, to create a population of hollow men, loyal to none but the party, un-thinking, un-loving slaves of the party, tools. As in 1984, the state in Fahrenheit wish to crush creative thinking, eradicating humanity in the process. The burning of books, similar to the book burnings of Nazi Germany show the totalitarian, dystopian need to control the thoughts of the masses. By doing this, they control the past, and therefore the future. They are able to rewrite history to justify their acts, indoctrinating the youth to believe in their cause, just as the Nazis did. In Fahrenheit 451, as in 1984, symbolism and reversible meanings are present which can also be seen as conflicting emotions in the protagonist and the struggle to find a place in society. In 451, the contrasting ideas of fire and water are very interesting. The firemen are not as tradition tells, protectors of the people, putting out fires and saving lives, but using fire to burn and destroy literature. Their role is to destroy, to burn human creativeness. Captain Beatty, chief of the fire department, believes that fire is bright and fire is clean. This idea contradicts the norm of fire is destructive and evil. This represents the twisted ideas of authority, reversing the meaning of words, rewriting them to justify their aims of total control over humanity. The masses fail to see the true meaning of these words, or perhaps they have forgotten. This shows how far the totalitarian government has succeeded in indoctrinating people into believing what ever they wish them to. However, the protagonists in both novels are depicted as being marginalised because they do not share the same ideas, due to morals and ideals that they can only express in their minds, far from the reach of the state, a lonely free island in a sea of relentless waves. The idea of water by Bradbury is used to cleanse montag’s soul. The water saves Montag, cleansing him of the scent of society, he is thus reborn. In addition, when Montag is trying to escape the helicopters and the mechanical hound, the tools of the totalitarian government, the stream hides and saves him until it is safe to return to land. Montag indulges himself in the water and there was only the cold river and Montag floating in a sudden peacefulness, away from the city and the lights and the chase, away from everything in this the water saves him, purifies him, the opposite of the dystopian symbol, fire. Water is portrayed as the flow of humanity. In 1984, the party uses contrasting ideas in their party slogans such as  « War is peace, freedom is slavery, ignorance is strength  » these contrasting ideas represent perfectly the party’s ideals. The individual and the freedom that comes with it actually results in slavery in the dystopian society, ignorance of the truth of what the party is really about protects you from persecution of the thought police. The use of these contradicting words and the lack of opposition, mean that the party have succeeded in their indoctrination of the masses as no one has the ability to see past the words to see their true sense, even Winston and Julia remain troubled by it. In a dystopian society, the state exerts complete control over its population through oppression, terror and the constant use of propaganda. This is apparent in both novels. Both novels are predictions of a future controlled by totalitarian states. The thoughtpolice in 1984 use brainwashing, spies and denunciations to control the party however the proles are generally untouched. This is similar to Nazi Germany in that only those who rebelled or were undesirables in society were quashed, the general population remained untouched. By comparing Nazi Germany and the era in which this novel was written, we can see the blatant warning against future governments similar to the National Socialists led by Hitler and the state of terror and oppression and ethic cleansing which was deemed for the greater good. O’Brien says to Winston â€Å"perhaps you have returned to your old idea that the proletarians or the slaves will arise and overthrow us. Put it out of your mind. They are helpless, like the animals. Humanity is the party. † This shows the view that the totalitarian government controls all that is humanity and the lower classes remain irrelevant because they have neither the knowledge nor the power to overthrow those who control reality. They control the laws of nature, the past, the present and the future. However, Fahrenheit 451 does not elaborate on the political aims of the ruling party apart from their desire to quash human creativity and the ideas of individuality. Yet it remains a typical part of dystopian ideology to desire to control every aspect of the masses and even humanity itself. The use of the  « telescreen  » is an interesting concept that is abundant in both texts. The use of the telescreen in Fahrenheit 451 is that this became the populaces way of interacting with others without physically interacting with them, as people became detached from literature, from freedom. The people on these televisions were your family, who would keep you company and be your friend, spurting propaganda and essentially keeping people in check. The telescreen in 1984, shared the same idea but consisted of other more sinister uses such as spying on those suspected of thoughtcrime, revolutionary thoughts against the party, overhearing conversations and playing militaristic key speeches and propaganda techniques seen in Nazi Germany with the peoples radio. However this form of propaganda could never be switched off. This shows the ingsoc party’s ability to penetrate every single aspect of humanity and society, the idea that  « big brother is watching you  « is very well demonstrated. This of course being the reason why Winston and Julia were captured and tortured by the state. The use of the Telescreen can be noted in Winston and Julia’s struggle in that they are constantly bombarded by party propaganda, possibly overheard by the party through speakers hidden in the screen. This creates pressure to conform for fear of being found out and sent to the ministry of love for reconditioning. The underlying fear of the unknown bound them to neither conform nor rebel. They are lost in a society which they cannot escape and do not wish to be a part of, yet they have no choice. I believe that under this amount of pressure, anyone would fall and conform to whatever the Party demands, as the individual is no match for the collective power of the Party. Winston is not just a character in the story, but an idea. Winston is an anachronism. His mind and personality are not defined by the Party slogans, by the Party’s ideas of what he should be. From his own point of view he is an individual; from the Party’s point of view he is a flaw in the reality it is creating. The story follows Winston and his struggle for individualism and his overpowering feelings of humanity, the very feelings that the party try to destroy, which they eventually do through horrific torture spread over months. O’Brien says to him whilst trying to brainwash him  « you are the last man†¦you are the guardian of the human spirit.  » Winston then looks into the mirror and sees the frail creature that he had become. O’Brien does this to show the extent to which his party can destroy humanity and rebuild it to their designs. He then goes on to say  « Do you see that thing facing you? That is the last man. If you are human, that is humanity.  » Convincing Winston that his struggle in futile, the control of the party is infinite, they create the law around them to meet their ends of controlling everything, and everyone. Winston is eventually brainwashed and ends up loving bigbrother, thus the aims of the party complete. In conclusion, the extent to which 1984 refers to a dystopian society compared to Fahrenheit 451 is at once different yet similar. The ideas of the party relate to those of the Nazis and soviet Russia; the lies, the oppression, the propaganda, the removal of civil liberties and the crushing of humanity. However 1984 is an extreme version of this prediction of the future. Fahrenheit explores more the emotional changes in Montag that convinces him to relinquish his part in destroying freedom of expression enforced by the fireman and the state and to embrace his curiosity and his humanity. 984 ends with the destruction of Winston, finally loving bigbrother, his love for Julia destroyed, his individuality crushed they had both failed themselves and each other and lost to power of â€Å"Big Brother. † Orwell was a firm believer in Marxism and the need for the proletarian to rise up and equalise society. These two tales are a warning of the dangers of dystopian societies, the need f or humanity to shed this society that has become so desensitised and to be aware of the reliance on technology, before it is too late.

Monday, July 22, 2019

Organizational Change Plan Essay Example for Free

Organizational Change Plan Essay The proposal discussed is Electronic Health records. There are numerous advantages to using Electronic Medical health Records however, there are disadvantages as well. I believe that the Electronic Health Records process needs to be improved. Staff are having major difficulty using EHR‘s and this detrimental to the use because the staff feel uncomfortable therefore avoiding using EHRs. In order to change how the health care providers feel towards using EHRs, management must communicate adequately the need for the change and the great benefits of it. The next step would be for management to educate the staff by using evidence based processes. In this stage, management must make use of EHRs simple for staff to follow and provide enthusiasm in using EHRs correctly. An organizational boundary would be lack of deadlines, lack of funding, and lastly lack of participation from staff. Lack of deadlines leave staff to make their own deadline according to how necessary they feel the change is. Usually, new processes get put off because theyre used to the then existing habit and feel that the new process would require more time and energy. Despite the fact that actually using EHRs require a lot of training the primary benefit of EHRs is that it doesnt require an unnecessary amount of effort. One could save time and make other staffs tasks much easier resulting in faster outcomes and more time to focus on more issues. Another organizational boundary would be lack of funding. EHRs need computers, trainers/ End users, training manuals, subject matter experts, and time which could be rather costly. If an organization does not have the funds to provide training manuals, subject matter experts, or any of the other matters reported then the use of EHRs will not be possible. Lastly, lack of participation from staff is an enormous regulatory barrier. Without the use of EHRs by the staff the employees wont see the benefits of using EHRs and they will continue to use the old and less productive way. Individual barriers include problems comprehending the new information, fear of changing, and computer illiteracy. All the problem stated are rather large personal barriers and are interconnected. One may fear or feel that they dont want to change to EHRs because they are computer illiterate and cant comprehend how to use a computer. When using EHRs one must have basic  computer knowledge and be proficient in using all the necessary tools and softwares on a computer and without this knowledge then a person would feel overwhelmed in trying to use EHRs. There are both good and bad factors that may influence my proposed change. An example of a negative factor would be poor performing computers. Positive factors include good communication. Negative factors such as poor performing computes could negatively impact the use of EHRs significantly. The purpose of using EHRs are to save on time resulting in an increase of productivity but if working on a poor performing computer one may be result in going back to writing out information on health records. The main decisive factor in using EHRs is the incr ease of communication. With the use of EHRs not only all the staff will be able to access a patients information but another organization like a hospital or insurance company will be able to see and use the record. Using EHRs inside an organization will allow for all the staff to view the same information and to be updated. Lewins model relates to the change proposed because the process needed to change the process of EHRs which require Lewins three steps unfreezing, changing and refreezing Spector (2010). Unfreezing would be getting the staff to realize that they need to make a change. It is said that communication is essential in this step because it is needed to convey the urgency and specific outcome wanted (Change Management In Ehr Implementation, 2013). However in this scenario the change wouldnt be to implement EHRs it would be to get the staff to use go from avoiding the use of EHRs to become the new norm. The second step of the Lewins model is change. Change is moving from old habits or behaviors to the new and efficient implementations. Learning new habits and processes are what happens during this changing phase. Also, resistance is often seen in this stage, usually employees are set in their ways and view the new change as difficult or more challenging therefore they will resist the change Spector (2010). This is where the main problem occurs in the use of EHRs especially at my place of employment. The staff was introduced to a new method in recording health records however the staff still had doubts and felt intimidated towards using EHRs. In order to change or prevent the negative attitude towards the change, managers should let the employees know that the new change is necessary and that it contains more benefits than the last process. This is a problem within our organization. Usually providers state  to the workers that a change is going to be made then they train employees immediately and then they leave it up to the employees to continue to use the new process. In addition, managers and other employers sh ould make themselves available to the staff in assisting them with the new change. The last step discussed in Lewins model is freezing. The step freezing ensures that the new process is set in place and will continue to be the new norm. The employees at my workplace were not able to complete the final phase freezing because they resisted the change and reverted back to the old process. Internal resources available to support the change initiatives are using consultants or using expert help or allowing staff to take leadership roles in implementing the use of EHRs. Using expert help specialists allow the trainees to learn more about EHRs and how to prevent and correct problems with EHRs. Allowing staff to implement the use of EHRs through leadership is a very rewarding internal resource (Change Management In Ehr Implementation, 2013). The staff feels good about the change their making and the staff will use EHRs instead of writing this will provide them as well as the viewer with information about a patient and give them a better overview on what is happening with a patient. External resources available to support change initiatives are journals or using sites and articles. External resources would be journals, articles or websites on the subject matter of EHRs. These resources allow one to see anything from the purpose of EHRs, the history of EHRs, as well as how to resolve technical issues with EHRs. I believe that increased efficiency in EHRs will reduce the time it takes to access medical records. The pros outweigh the cons. Depending on whether or not staff has basic computer knowledge the education will be minimal as well as time. The advantages include better time management, more efficient communication, and less space taken up by papers and files. References Change Management in EHR Implementation. (2013). Retrieved from http://www.healthit.gov/sites/default/files/nlc_changemanagementprimer.pdf Spector, B. (2010). Implementing Organizational Change: Theory Into Practice (2nd ed.). Retrieved from The University of Phoenix Ebook Collection database.

Sunday, July 21, 2019

Strategies For Teaching Listening Skills In Classroom

Strategies For Teaching Listening Skills In Classroom Because of requiring quality for teaching students, especially teaching listening skills in the classroom, assorted schools, colleges, and universities have tried to look for good strategies (Teaching listening skills), for this area is the most complicated to teach students, and then this issue has developed into a good subject for teachers and those institutions to be concerned about. On the other hand, these concerns are dealt with many books and journal articles with new strategies for teaching listening skills in the classroom these days. In online publication date: 29 July 2010 article written by Dorothy R. and Sid T. states Most teachers are aware that students listening skills are not what they once were. Our classrooms are filled with students who either do not listen or listen with their ears but not with their brains. (Dorothy R. Sid T. (2010, july 29). 56, 310-311). Instead, many more authors or writers in numerous books and journal articles can respond to this issue with out any hesitation. In order to answer this issue, authors and other teachers assert that copious strategies in abundant books and articles are much better than only one.Penny contends that in principle, the objective of listening comprehension in the classroom is that students should learn to function successfully in real-life listening is(Penny 1996, p 105).Moreover, a statement states that there is no one way of doing a listening skills lesson- it depends on such factors as the aim, the text type, the level of the students, etc.(Roger, Diane, Steve 1983, p89). Hence, studies of the strategies for teaching listening skills in the classroom according to various references- both books and journal articles- embrace a variety of techniques and strategies. I, however, now extract one of those to outline this. Depending on the journal article written by Dorothy R. and Sid T., it reveals that there are several ways of teaching listening skills in the classroom effectively (Dorothy R. Sid T. (2010, july 29). 56, 310-311). First, Call attention to careful listening will heighten childrens awareness of the importance of the skill. An oral check of student responses will call immediate attention to errors and eliminate paper checking for the teachers. Second, Taped selections can be played to students, followed by questions about their content. Questions that encourage beneficial listening skills include those that ask about cause and effect, sequence, main ideas, terminology, drawing conclusion, and the names of the main characters. In addition, Mrs. King a third-grade teacher in the Huntsville, Texas public school system starts the school year by telling the students that her very quiet voice is her teaching voice. She does not yell, and she insists on politeness speaking only with permission and not talking when others are speaking. As a result of this and other techniques, the noise level in her classroom is always low. Finally, exercises in careful listening habits are being learned by our television- oriented young people (Dorothy R. King (2010, july 29). 56, 310-311). These diverse approaches have been applied to peruse good strategies for teaching listening skills in the classroom, and how much the students understand those. This proof is shown that most of the students in listening class demand many strategies for improving their listening skills. Only studies, nevertheless, of Dorothy R. Sid T. are not sufficient for teaching listening skills in the classroom, for one skill requires a variety of strategies or techniques in order that instructors are convenient to impart knowledge to students effectively. Therefore, Roger, Diane, and Steve state that there is no one way of doing a listening skills lesson it depends on such factors as the aim, the text type, and the level of the students, etc.( Roger, Diane, and Steve 1983). Besides, the shortage of searching more information related to the strategies for teaching listening skills in the classroom is deplorable because it is advantageous to our skills (Teaching as career). Not only do you believe in one authors documents, but you also try to search the work of arts of others in order to have new ideas or techniques to teach the students both effectively and successfully. In conclusion, this study attempted to donate the knowledge base related to teaching listening skills by probing as many strategies for teaching listening skills in the classroom as possible to make sure that students are contented to accept those effectively. In order to apprehend this research clearly, you are asked a few questions as follows: 1. What are the strategies for teaching listening skills in the classroom? 2. With what benefits do they provide you? 3. How do these strategies respond to the students in the classroom and the real world? Annotated Bibliography 1. Æ’ËÅ" King, D. R Womack, S. T. (2010, july 29). Strategies for Teaching Listening Skills. The Clearing House: A Journal Of Education Strategies, Issues and Ideas, 56, 310- 311. Dorothy R and Sid T., in this journal article, show off teachers difficulty in teaching students listening skills because theirs are not what they once were, and the classrooms are filled with the students who do not pay attention to teachers explanation (Teaching listening skills). When listening, they use only their ears but not the brains. Therefore, the purpose of this article is focused on several strategies which can help teachers teach listening skills in the classroom successfully. Even though this article is not the most perfect one, it can provide good methods for dealing with this issue and my research, especially the strategies for teaching listening skills in the classroom, and then this tool is used to conduct the next one in general classes. Finally it is also able to help me to apply all the strategies in my study in order to improve the skills as teacher of English in the future. 2.Æ’ËÅ" Scrivener, J. (1994). Tearning Teaching. Great Britain: Macmillan Jim, in this book, offers several procedures and strategies that can help students improve their listening skills, such as task-based listening, the task feedback circle, how we listen, and listening ideas, which are effective to upgrade students listening skills in the classroom; also, it is really significant to the study because this research (Teaching listening skills in the classroom) is applied to the real world. This book also provides a great deal of information related to teaching listening skills for research, particularly the key points. Moreover these strategies can help many researchers and learners create more methods to conduct next research effectively. Last of all, they do assist me to use the key concepts of these strategies in my study successfully, and I also have a good opportunity to upgrade my knowledge teaching as career. 3.Æ’ËÅ" Ellis, R. (2003). Task-based Language Learning and Teaching. China: Oxford University Press. In this book (tasks, listening comprehension SLA), Rod shows that this chapter based on listening tasks has contributed to theory (as it concerns both listening and language acquisition), research methodology, and language pedagogy. These three key terms are really crucial to the research related to teaching listening skills; for example, Academic listening task research has shown that when learners lack relevant schemata their ability to take notes and comprehend a lecture suffers. Thus Rod offers a promising tool for investigating the micro processes involved in comprehending and language acquisition. These strategies are very much valuable for the study since it not only focuses on the classroom teaching but also concentrates on learners in general, and this task too is very useful to my study because it is the guideline to achieve either the next new research or the teaching listening skills in the classroom. 4. Æ’ËÅ" Ur, P. (1996). A Course in Language Teaching. Great Britain: Cambridge University Press Penny, in this book (Chapter 8: Teaching listening, Unit one), teaches about Real-life listening in the classroom. In the unit, he indicates three main steps to teach listening skills, such as Guidelines, Practical classroom application, and Implementing the guidelines: some specific practical implications. These key points are very essential, for they can make teaching listening in the classroom effective and beneficial. Furthermore it is able to provide a lot of information and new strategies to my study, which relates to the teaching listening research. Therefore this research can be applied not only in my classroom but also in the real world. 5. Æ’ËÅ" Pearse, E. Davies, P. (2000). Success in English Teaching. New York, Hong Kong: Oxford University Press. In this book, Paul and Eric provide the strategies for teaching listening skills; that is, the strategies generally recommended are: pre-listening, while-listening, and post-listening, which are absolutely useful to draw students attention on teaching listening class effectively. In addition this book classifies listening text in terms of learner control and some more activities that can help both teachers and learners achieve the objectives during their processes. All the strategies can be applied to all teaching listening classrooms not only one class as they are absolutely practical to all learners, in particular they are very crucial to my research study, for my topic is related to this area, and it can assist me to apply the strategies in the real classroom teaching. 6. Æ’ËÅ" Gower, R., Phillips, D., Walters, S. (1983). Teaching Practice Handbook. China: Macmillian,Heinemann. Roger, Diane, and Steve, in this book, raise good strategies related to the skills how to improve students listening skills, which help the students find it easier to embrace this area. In addition they say that there is no one way of doing listening skills lesson it depends on such factors as the aim, the text type, and the level of the students, etc. and they also give the example involving in guidelines on one way of conducting a listening skills lesson which is divided into three sections before listening, first listening, and second listening; i.e. all these are included with its feedback too. These strategies are applied to implement classroom teaching, in particular these key points used to do the survey on students understanding of listening skills effectively. They will also help me to conduct the authentic research on my field- teaching as career successfully. 7. Æ’ËÅ" Hedge, T. (2000). Teaching and Learning in the Language Classroom. China: Oxford University Press. In this book, Tricia tells a lot about the strategies related to teaching listening skills in the classroom. First he talks about the role of listening in the ELT curriculum, such as pre-listening task and listening note taking, which can be assumed that listening ability will develop automatically through exposure to the language and through practice of grammar, vocabulary, and pronunciation. Next he shows what we know about listening process bottom-up processes and top-down processes in listening, which can be applied with real knowledge of learners. Furthermore he also indicates the purpose of listening; i.e. it refers to conversation of a personal kind in which the listening is reciprocal or participatory and so on, especially designing listening activities for the classroom, which is really vital to the academic course because I need this for my teaching listening classroom. All these key strategies will make my research study more and more advanced as teacher of English. 8. Æ’ËÅ" Peterson, P. W. Teaching English as a Second or Foreign Language. (M. C. Murcia, Ed.) the USA. Pat W., in this book, indicates a few prompts related to the strategies for listening skills. First he shows the types of strategies specific to listening comprehension, such as categories of metacognitive, cognitive, and socioaffective strategies, which are very important to the study because each has a various function in teaching listening methods. Next, he spots a development view of listening skills. In this section he focuses on profile of the beginning, intermediate, and advanced-level student in listening good strategies which can be segregated for teaching in each class. Moreover he sets the goals for them Bottom-up and Top-down processing, Goals and exercise types, and beginning, Intermediate, advanced-level learners which can make teachers easy to teach them successfully. All these strategies are valuable to the study, for they are classified differently. I hope that these will not only help me teach my students in the class but also be helpful to my MA research program . 9. Æ’ËÅ" Hadfiekd, Jill Charles. (2008). introduction to teaching English. Portugal: Oxford University Press. In this book, Jill and Charles show the explanation to the stages of a listening lesson set up as follows: First he talks about before a listening Lead-in method engages learners interest, introduce the topic and context, activate learners background knowledge, help the learners to predict what the speakers might say, and introduce some key words and expression; also, Language focus introduces some key vocabulary, and other words. Second it is about during a listening lesson; that is, Tasks show that you should aim to repeat the listening several times with a series of listening tasks. Finally it is about after a listening lesson; i.e. Language focus concentrates on some of the language in the text, such as new vocabulary, and Transfer uses the listening and the language work as the basis for work in a different skill. These strategies are really practical to the study. Even though they are not the perfect ones, they show off good advantages to teachers in order to implement these t echniques in the classroom successfully. Also they will be useful to me because I become a teacher of English and I have to use these as my teaching tools. 10. Æ’ËÅ" Fernandez-Toro, M. (2005). The role of paired Listening in L2 listening instruction. Language Learning Journal, 31, 3-8. Maria, in this journal article, mentions much of the difficulty related to the fact that listening processes cannot be easily observed and shown because they all take place inside t he listeners mind. She, however, indicates that paired listening offers a number of potential benefits, both as a diagnostic tool and as a valid learning exercise in itself. Moreover, this research is also profitable for the study, for the writer shows not only the problem to the skills but also the good methods applied to deal with its issues. Thus, this article is really useful to my research because I can use these strategies to operationalize all good points in my own study.