Profit Maximization / Maximization of Shareholder Wealth Essay

The primary goal of financial management regarding corporations should be to maximize shareholder wealth on the whole. If management was to only concentrate on profit maximization, they would more than likely run their corporations into the ground. The very existence and concept of a corporation is beneficial to business in numerous ways. First and foremost, corporate status helps release management from possible enourmous financial liability issues. Second, shareholders are the key of checks and balances in a corporation. Management is wise to heed the concerns and needs of shareholders. The book uses a good example when referring to mergers. A merger in the future of a corporation could be viewed as a positive move – bringing more wealth, more talent and/or a larger consumer base. However, management could see the move as a negative one as they would have to possibly change roles and give up certain privledges they are accustomed to. Although the merger may bring the corporation positive growth, management could be reluctant to make the merge. This could be the case in a main goal of personal profit maximization. Without the merge, the company could lose steam and competitiveness and shareholder could lose in the end. It is important to note that shareholders may be employees of the firm who would become more loyal and efficient when they are rewarded financially. Shareholders financially invest in the corporation and if rewarded with good returns, will continue to invest generously. The more shareholders find value in a given corporation, the more likely they are to financially invest, which in turn gives the corporation more positive funds to grow business. Also, social responsibility may play a part in the maximization of shareholder wealth. If the public perceives a corporation as being socially responsible they may become more loyal customers. Knowing that a local corporation has taken steps toward pollution control would make me much more likely interested in consuming their goods as I would feel that I was aiding my community. More business from loyal consumers maximizes profits as well as shareholder wealth. Although the above example of pollution control may  cost more for the corporation than not deploying the controls, it would create a more loyal customer base. I believe that a loyal customer base is more beneficial to have than a fly-by-night customer. As shareholders are rewarded financially and P/E grows, corporations appear to be winning investments on the stock market. The more value customers perceive in a business, the more likely they are to financially support the institution.

Organizational Culture in Libraries Essay

Assignment Topic: One of the main ways in which the ‘veil of incorporation’ can be lifted is when directors breach their duties. This essay question is set around the duty to prevent insolvent trading. You will need to have read the chapter in your prescribed text that deals with this duty and have then researched more widely by looking at other textbooks, the relevant CCH online library, articles from the internet and journal articles. You must answer both parts of this topic. Please make sure you have REFERENCED in the body of your work ACCURATELY,. Remember, referencing shows you have researched and thought about what material will be relevant to assist you in answering the questions. Read the following scenario and answer BOTH parts (questions) at the end. OHS Solutions Pty. Ltd. is a company formed by three friends (Des, Satish and Emma) who bring different skills and abilities to the business. Emma is an accounting graduate, Des has expertise in occupational health and safety (OHS) and Satish has an IT degree. They decided to start up a business which would provide a portal through which the public and businesses could access (for free) information on all aspects of OHS. OHS Solutions would finance its business, and make profits, by charging businesses to advertise via their website. The directors of OHS Solutions are: Managing Director – Des Finance Director – Emma (non executive) Director – Satish (executive – employed also to run the technological side of the business) Director – Ying (non executive) – a friend of Des’ and director of Support Pty. Ltd. (Support Pty. Ltd. has gone guarantor for a $50,000 loan from the Business Bank Ltd. to OHS Solutions) The Shareholders of OHS Solutions (holding equal amounts of ordinary shares) are Des, Emma, Satish and Support Pty. Ltd. As at January 2007 OHS Solutions had been operating for six months. It had  some initial IT problems which prevented some of the advertisers’ material from being accessed. In order to try to help overcome these technical problems Satish engaged Trouble Shooters Pty. Ltd. At the February Board meeting, Satish reported that two businesses who had paid to advertise on the website were dissatisfied with what was happening and were threatening to sue for breach of contract. Emma was unable to table any financial information as the employee who had been doing the accounts had been sick and when Emma looked at the records she found that they seemed to be in a bit of a mess. She did find a large account from Trouble Shooters that was over due. Des reported that he was disturbed by this news. He had been told by Satish that the IT problems had been fixed since Trouble Shooters had been engaged, and he had just signed a $10,000 advertising contract with Promotions Plus Pty. Ltd. to advertise the website and signed up to go to a trade show to be held in conjunction with a forthcoming OHS conference. He said this was needed because a number of high profile advertisers were threatening to discontinue their association with OHS Solutions unless the portal became better known. Ying just listens in disbelief at the March Board meeting. It seemed to her that OHS Solutions is being poorly managed and is failing to make the most of a potentially profitable business opportunity. This could present an opportunity for Support Pty. Ltd. to make an offer to buy OHS Solutions at a good price. On the other hand Support Pty. Ltd. is exposed as a guarantor. Assume she consults you, an accountant, for your preliminary view about the predicament of OHS Solutions and what she should do. Assume also that the first thing that comes to your mind is whether Ying herself may be vulnerable as a director of OHS Solutions for failing to prevent OHS Solutions from trading when it is insolvent.

Analysis of the Plan to Permit States to Have Set Their Own Rules on Drinking

Analysis of the Plan to Permit States to Have Set Their Own Rules on Drinking The Drinking Age States’ Rights States should be allowed to make their own drinking laws because the Constitution does not state that this is a right given to the federal government and therefore, it rightfully belongs to the state governments. This does not classify as an inherent power because Congress has no reason to believe that these laws are necessary for the government to function, especially considering that the United States has only instituted a MLDA – minimum legal drinking age – in the last hundred years. In fact, the history of MLDAs demonstrates how states have been deciding their own drinking laws for years, without the federal government ever needing to get involved. When prohibition was repealed on December 5, 1933, each state was allowed to set their own laws for alcohol consumption within their jurisdiction (Hedlund). It is due to this history that it can be logically concluded that this does not function as an implied power of Congress – especially when it is seen how rather than simply legislating the issue, as they would do if they truly believed they had the right, the government has been going through loopholes of crossover sanctions, the Highway Trust Fund, and misreading the twenty-first amendment for their own gain as they try to pass laws on what should be an issue of implied power. They eventually succeeded in the eighties, a decision that has been upheld in the Supreme Court, but this does not disprove the fact that they never should have been given the right to pass this law in the first place. Prior to the National Minimum Drinking Age Act of 1984, states had decided the age of alcohol consumption independently for their constituents. With the addition of the new law in 1984, which forced all states to raise their minimum legal drinking age to twenty-one, the federal government instituted a policy of crossover sanctions which â€Å"force the implementation of federal requirements in one area or the states risk losing money in another, similar area† (LaFaive). In this case, any states that refused to raise their drinking age to twenty-one would be punished by a reduction of their highway funds by ten percent. This was vastly different from the system of states control that had operated until this point, when many states were lowering their drinking age to eighteen to reflect the changing climate following the Vietnam War, when young adults could be drafted to fight for their country but were not allowed to drink. In 1970, the twenty-sixth amendment lowered the voting age to eighteen for this reason (â€Å"The 26th Amendment†) and many states decided to lower their drinking age accordingly. The issue with federal legislation about drinking age is that situations like this are less likely to be taken into account, as can be seen by the federal government choosing the age of twenty-one. This age makes sense in a post-prohibition era when young adults couldn’t vote until that age either, but now it shows that the government is unable to keep as up-to-date as more local governments could. This switch to a system of manipulative fiscal federalism was stated by the federal government to have been done to serve the purpose of protecting young lives as fatalities related to alcohol and drunk driving vastly increased in alignment with states in the sixties and seventies lowering their drinking age to eighteen (MADD). This is not the issue, however. The question is not whether or not lives have been saved by the federal law or not – it is that this was never a choice for the federal government to make in the first place. Whether states do a good job of choosing an appropriate minimum legal drinking age is not to be considered, although the United States has the highest drinking age in the world (ProCon.org), but rather that they are being denied their Constitutional right to decide. Likewise, drinking age is never mentioned in the Constitution and the federal government knows it – they knew that they had no right to legislate on this issue and so covered it up by technically making the act option to states, only enforceable through coercive funds that states need to keep their highways intact. States have the right to legislate any issue that is not explicitly given to the federal government as stated in the tenth amendment but Congress has been using crossover sanctions and its role as a regulator of interstate commerce to deny states of funds from the Highway Trust Fund, which is â€Å"a transportation fund in the United States which receives money from a federal fuel tax of 18.4 cents per gallon on gasoline and 24.4 cents per gallon of diesel fuel and related excise taxes† (Highway Trust Fund) (Resnick). This has been considered legal through the supreme court case South Dakota v. Dole, which stated that taking five percent of a state’s h ighway fund for refusal to cooperate with the federally mandated drinking age was not considered unduly coercive through the spending clause of the twenty-first amendment (South Dakota v. Dole). It is important to note that this is a decision based on five percent of their highway fund, and that the actual amount that the federal government takes away nowadays is actually twice this amount. Similarly, this is not fair for the states because the funds come from the tax dollars of their constituents and should not be held hostage. The federal government knows that they are in the wrong and do not have the right to legislate on this issue and yet continue to do so. The states have violated no part of the Constitution by changing the drinking age within their jurisdiction to twenty-one, eighteen, or whatever other age that they choose and should not be punished for following the laws of this nation. The twenty-first amendment, which repealed the eighteenth amendment which legislated prohibition, has said nothing about a minimum legal drinking age and so this falls into the category of an implied power, which means that it should be left to the states to decide. As Judge O’Connor stated in his dissenting opinion in Dole, In the absence of the Twenty-first Amendment, however, there is a strong argument that the Congress might regulate the conditions under which liquor is sold under the commerce power, just as it regulates the sale of many other commodities that are in or affect interstate commerce. The fact that the Twenty-first Amendment is crucial to the States argument does not, therefore, amount to a concession that the condition imposed by  § 158 is reasonably related to highway construction. (South Dakota v. Dole 483 U.S. 203 (1987)) What the judge is arguing is that the commerce clause, which gives Congress the power â€Å"to regulate commerce with foreign nations, and among the several states, and with the Indian tribes†, is not a factor in the decision of Dole because the case is not centered around whether or not the federal government has the right to control the Highway Trust Fund, as they clearly do, but whether the drinking age is adequately relevant to these funds to justify keeping them from states – and, more importantly, whether the federal government has the right to pursue crossover sanctions for this issue at all. The fact of the matter is that this is an easy realization to come to. The Constitution does not say anything about drinking age and so it is the implied right of the states to legislate on this issue if they choose to. The National Minimum Drinking Age Act of 1984 is not only unnecessary, it is unconstitutional in the strictest version of the law. Congress knew this when th ey looked for loopholes and the rights of the states must be protected.

Child Development Essay Example | Topics and Well Written Essays - 250 words

Child Development - Essay Example Pregnancy is a very important part of a woman’s life that calls for behavior change in various aspects of life. To begin with, my sleeping hours would not be adequate if I were pregnant. Pregnant women are advised to get enough rest and sleep. Secondly, I rarely exercise and I would start engaging in exercise activities three times a week to improve blood circulation. Thirdly, I take alcohol during the weekends and I would have to refrain from it if I were pregnant. Alcohol and drugs are prohibited during pregnancy as they can affect child’s development (Murphy). Finally, I would also need to change my diet by including healthier foods including larger portions of fruits and vegetables. Additionally, I would have to refrain from foods containing saturated fats and sweetened drinks. The study concentrates on behavioral change among women during pregnancy. According to the article, most women consume alcohol during pregnancy goes against the doctors’ advice as alcohol poses numerous side effects to the fetus. This article advises women to avoid alcohol intake at all costs. The article also shows the drinking habits among women from different backgrounds and demonstrated that some of the side effects of drinking while pregnant include intrauterine growth restriction, low birth weight, and preterm birth. The article also shows that there is a strong relationship between alcohol use and smoking and these aspects combined have a significant negative impact on fetal growth.

The Future of Wireless Technology Research Paper

The Future of Wireless Technology - Research Paper Example As wireless technology is going to bring about a major change in every aspect of life – from entertainment to carrying out global business transactions, it is necessary to understand the importance of wireless technology. Advent of Wireless Technology The development of wireless technology may seem to be a recent phenomenon, but the fact is that the first step towards any form of wireless communication was through the discovery of electromagnetic waves in the early 1800s by Hans Christian Oersted through a compass needle ( Dubendorf, 2003). Later works of Michael Faraday and Maxwell also contributed to electromagnetic. In late 1800s, Graham Bell developed a photophone, where communication was done through light beams which mere modulated (Dubendorf, 2003). The first radio waves were created by Heinrich Hertz in 1887 with the help of an oscillator and found out that these waves could be transmitted and revived with the help of appropriate devices. Such a device was developed by Jagadish Chandra Bose during the 1890s and he made an important contribution to the understanding of millimeter length of waves (Dubendorf, 2003). ... In the 1940s, the technology advanced as two-way radio systems came into existence. During World War II, wireless signals were used by the US Military for coordination in terms of sending plans and providing instructions (Brodsky, 2008). Post 1960s, the focus of the research was centered around making the telephone wireless, and the telecom giant AT&T worked on features such as elimination of push to talk and implementation of automatic dialing (Brodsky, 2008). The 1970s and 1980s were eras centered on mobile technology as it marked key events such as development of digital voice technologies such as GSM, CDMA, implementation of AMPS (Advanced Mobile Phone Services) in 1983 as the first cellular service and so on. By 1986, the public had adopted the wireless technology with open arms as the cellular subscription reached 2 million (Brodsky, 2008). The 2000s can be considered to be the era of mobile telephones, wireless data communication through wi-fi,bluetooth, cellular data and mobi le satellite communication and computer interface devices. Wireless Devices Today Wireless technology is an avenue that is witnessing rapid advancements with new inventions emerging one after the other. Wireless technology operates through various mediums such as radio technology, communication through microwaves through reception antennas, through infrared, with the help of ultrasonic communication as well as through electromagnetic waves (O'Brien & Marakas, 2008). On hearing the term wireless, most people associate it with cellular technology. However, the wireless devices today expand beyond just cellular communication. This section highlights some of the

Finacial & legal aspecat of procurement Assignment

Finacial & legal aspecat of procurement - Assignment Example nstruction of structures, fixing of electronics and navigation devices, maintenance of auxiliary systems, technical support to engineers and other shipyard services depend on the available specialized labor. Structural developments take the biggest chunk of labor expense followed outfit and furnishings because they are done virtually on a daily basis. Another cost driver is the purchase of materials (Moelmann & Harris, pg30). Fixing of electrical appliances cost the company heavily due to the high cost of purchasing special devices such as adaptors, which are very critical in navigation and propulsion. Materials increase overhead costs due to the ever-changing prices of imported appliances and accessories. The accounting office can hardly obtain a definite estimate of the overhead costs to be incurred on product accessories and appliance in all accounting phase. Most of the purchased materials are imported from Japan and Germany. The fluctuating world prices shift the costs from time to time making it quite impossible to project the actual cost of materials. Propulsion materials have a high depreciation rate due to the busy schedule of the transport company in all the segments in deals in. In shipping and land courier services, the expense is high on oil and engine spare parts. The cost of petrol, gearbox replacements is high and almost a fixed cost because it is the only available method of propulsion. For shipping high capacity, diesel engines are expensive to repair and the oil prices keep rising regardless of the increase in the cost of different engine models. In the last financial period, the company had to purchase more spare parts for the ship engines and 20 more courier vans to serve on the land segment. The overall cost of the company doubled even when the cost of technical support, auxiliary systems, and electrical appliances remained the same. This significantly affected the profit margin going down at its lowest in a decade. Fees and insurance has

Long Paper Essay Example | Topics and Well Written Essays - 1250 words

Long Paper - Essay Example This implies that the world should not be concerned with reducing consumption but reducing wastage since there are adequate resources for all people. Reduction of wastage can be accomplished through saving and recycling. While wastage can be found in almost all societal aspects, the most common forms include energy wastage and water wastage. Energy wastage can be attributed to lack of efficiency, using gas-guzzlers, and other practices that people may consider irrelevant such as leaving the water running while brushing the teeth. Although people may think that they are using the resources as they should, they may be wasting and still not realize it. According to statistical data, more than half of the energy produced is wasted through inefficiency and the fuel guzzling (Natural Resources Defense Council). The power plants also lead to high levels of power wastage. According to statistical data, power plants convert a mere 30% of the overall energy input into operational electricity. This implies that almost 70% of the fuel energy is wasted during the beginning of the power production process (WWF). These companies can improve the ir efficiency if they were willing to commit more financial resources into the power production process. This process can be improved if these companies could combine both power and heat production. These companies insist on using high heat production methods and situating these plants away from where people live. If this could be improved, there could be more than enough energy for usage in industries and homes and the call for reduction of consumption would not be relevant. The automobile industry is the other high-energy wastage sector in the society. An average automobile emits an approximated three times its weight in carbon dioxide annually. A vehicle with a consumption rate of approximately 7.8 liters in every 100 km travelling 10,000 miles annually would emit an

Ethical Consumer Behavior Assignment Example | Topics and Well Written Essays - 1750 words

Ethical Consumer Behavior - Assignment Example Consumer behavior is one of the most important subjects that are studied in the marketing and management fields. This concept is defined as the study of the groups, individuals and organizations regarding the methods and process that they utilize for the selection, securing and disposing of the services, products, ideas, or experiences. This subject mainly refers to a detailed assessment of the satisfaction of consumer needs and the influence that the applied processes have on the society and consumers. The concept of consumer behavior combines various elements from the sociology, psychology, economics and social anthropology. It strives upon understanding the entire process of the decision -making of buyers, both individually and in groups (Blackwell, Miniard, and Engel, 2006). It studies characteristics of individual consumers such as demographics and behavioral variables in an attempt to understand peoples wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general. The concept of ethical consumerism has gained a lot of significance in the shopping segments of United Kingdoms and the United States. Ethical consumerism is defined as the concept in which the consumer depicts such activism which is practiced through the concept of positive buying and favoring of ethical products. According to this concept, the consumers are empowered to make ethical decisions, the consumption choices that are ethically informed and are provided with reliable and authentic information on corporate behavior. In order to assist the consumers with ethical buying behaviors, various standards and tables have been developed by the organizations. These include Fair-trade, Organic Foods, Made in the USA and various other standards which formulate a certain benchmark to be followed (Bird, Kate, and David, 1997).

Business Environment And Strategic Management Assignment

Business Environment And Strategic Management - Assignment Example has necessitated these firms or the industries to invest in new technology or new systems that assist in reducing costs while at the same time enhances efficiency, which in turn results in higher profits. It is important to note that such initiatives are not the preserve of firms and industries in the higher echelons. This means that company CEO or industry leaders are increasingly on the lookout to for demands that are strategic and complement fully the operations of the firm or groups of firms in the industry. Various firms in a bid to be ahead of the pack are increasingly adopting new developments such as mobile technology and the rampant usage of social networking. There are strategic roles that new technology have with regard to a firm or an industry, this paper will initially look into them thereafter look into factors which may hamper the diffusion of such new technology. Additionally, the paper will consider a specific product or process innovation in an organization then analyse the corporate objectives for such an investment. Finally the paper will Identify and discuss factors which may have helped or hindered the adoption of this new technology within the organisation. The significance of strategies for not only firms but also the entire industries has been always stressed in the strategic management. Hitt, Ireland and Hoskisson (2010, p.334) observed that ‘†¦corporate strategies†¦ Allow firms to search for new markets †¦and technologies to outdo their rivals’. A number of literatures on strategic management have pointed out that firms adoption of new technologies can be directly linked to strategic roles that a firm’s management hierarchy intends to pursue. Various firms adopt these strategies to show critical and important stages they must follow in order to achieve their target organizational objectives. The available strategic management theories often cite two important models of strategic decision-making: the incremental and the

Food Memoir Essay Example for Free

Food Memoir Essay Eating it as soon as it gets out of the oven is an amazing experience. The elation increased inside me as soon as I started to smell the juicy baked chicken. Suddenly, it feels like a irresistible need to grab a bite of it right away. Obviously you can’t resist it, so you cut a piece of it and eat it. The crunchy sensation of the baked cereal all around the chicken is wonderful, but not only the texture felt good, the gooey of the sugar that comes with the cornflake make it taste like glory. The sweet mixed with the salt of the seasonings is an incredible party inside the mouth. Adding a delicious bowl of baked potatoes with bechamel sauces makes the dish even better. I always love to cook and be creative while cooking; preparing different kind of dishes with different seasons, all natural most of the time. Cooking is not about following recipes and going by the cooking book. Instead it’s about being able to mix different seasonings to create the perfect taste. The history behind this invention comes from the lack of resources to prepare a decent dish. It was a quite night like tonight, listening to John Mayer and my roommate and I were really hungry. Then we looked at the refrigerator and cabinets to see what we could cook but we only found chicken, tomatoes, garlic, salt and pepper. Having all those seasons and been tired of eating grill chicken I decided to make it baked crunchy chicken, but sadly there wasn’t any ground bread and I figured it out late so the only thing that I could use was the cereal. So that is how it happened, a happy mistake. I used cornflakes instead of bread crumbs for the baked chicken. At the time I started to prepare the chicken, two girls came in looking for us. They reaction was priceless; they screamed â€Å"Oh my god! You guys are crazy! † at us. My roommate after he laughed for few seconds he told them that it was going to taste good and that they will want me to cook for them after they taste it. The girls said ok and stayed in our apartment all night with us having fun. While the chicken was in the oven, I put some potatoes to boil. Then when the potatoes were cooked, I prepared bechamel sauces. I took a bowl with all the potatoes and I let the bechamel sauces rain over it. Then I put the bowl inside the oven with the chicken as well. In the meantime, I sat down between the two girls and we talked about something â€Å"special†. That happened later that night. When it was time to take the chicken and the potatoes out of the oven, we all went to the kitchen to see how it looks like. First I took out the chicken and placed on the dinner table, and then I go back to the kitchen to take out the potatoes as well. When I come back from the kitchen, I found that my friends had already eaten one chicken to taste it in like 8 seconds. I told them that they attacked the chicken too fast. Therefore one of the girls said to me that it was really good, that the sugar on the chicken was delicious. We sat on the table, each of us four with 2 boneless Baked Cereal Crunchy Chicken, with baked potatoes doused in bechamel sauce and many very cold coke cans. The coke cans were so cold that I had to use my can handler while the others used a can bag that we have. Those 15 to 30 minutes that we were eating on the table, became a good memory to our brains and especially to our tongues. Even though, that like five other people came to the apartment to check out our dinner and ate from our food, it was a good. They find out about it because the girls posted some pictures on instagram. Every single people who tasted the food, at the beginning when they saw what was it, they were all like â€Å"Cornflakes with Chicken? † However they all found it very tasty. Good enough to tell me that I should do that again. After we ate, I laid down on the sofa with my head over one of the girl legs. Then my friend yelled out loud â€Å"Toy timbi†, that is a Dominican expression that people say when we cannot eat more. My roommate went to the kitchen to clean the dishes, as it was his turn. After he was done, the girls screamed â€Å"Special time! † and suddenly a bottle of Jose Cuervo appeared. They prepared some margaritas with lemon and strawberry mixer. Later on, after around 3 rounds of margaritas we started to listen and dance merengue and salsa. We dance for like hour and half non stopping. Also we were singing a bit while we were dancing. We stopped dancing when he figure out that it was 4:00 am and we had class at 8:30 am. We were all tired but we were also in a happy mood. We all went to bed right away, but sadly none of us make it through the next four hours; the one who woke up earlier was the younger girl at 10 o’clock. She nocked my door very hard, until I woke up really mad because we skipped the class at 8:30 am. When we were all ready, we talked about last night. And the first thing that came out was that the chicken was really good and when I would do it again.

Effect of privatization on performance of public corporations

Effect of privatization on performance of public corporations Stock exchanges anywhere in the world provide a platform for investors and capital raisers to come together and get what they want. They assist in trading of stocks and bonds. Apart from that, it can be viewed as a liquidity providing platform. For this purpose, the stock exchange has to have a set of rules that will govern the execution and clearing of trade. Some of the responsibilities of a stock exchange are also enforcing standard rules to reduce transaction costs and monitoring of the trading to prevent manipulations like insider trading. A share or stock company model does issue shares of stock that are available through one or more stock market exchange. Shareholders purchase the shares of stock and become part owners in the company. This is a highly desirable status for many companies, as it can help generate significant amounts of revenue that make it possible for the company to grow in ways that would not be possible if the corporation remained privately held. Etukudo (2002) notes that capital markets transfer funds from savers to investors in productive assets such as plant and machinery as well as to providers of services. Capital markets also provide a mutually beneficial bridge between those who have short-time horizons and companies and projects with longer prospects. In addition, enterprises are provided with equity capital through the stock market, short, medium and long-term debt is made available through the bond market, and short or medium-term debt is provided through the banking sector. The financial intermediaries in all these transactions constitute the financial service sector and while the constituents of the sector and their relative importance vary from country to country, they generally include banks, stock exchanges, brokers and insurance companies. 1.1.1.2 Privatization of public corporations Boubakri and Cosset (1994) note that privatization has turned into a major phenomenon for the developed world as well as the developing world, particularly so over the last decade, with state-owned enterprises (SOEs) being privatized at an increasing rate. Ramamurti, (1991) note that the objectives of privatization are numerous. Country studies show that these objectives include improving government cash flows by redusing subsidies and capital infusions to SOEs, promoting popular capitalism through a wider ownership of shares, restraining the power of trade unions in the public sector, redistributing incomes and rents within society, satisfying foreign donors by reducing the governments role in the economy and especially enhancing the efficiency and the performance of the SOE sector based on the rationale that the private sector outperforms the public sector. Privatization in the 1990s led to the sale of 207 enterprises. Kenya Airways (KQ) was rated the most successful privatization venture in Africa. The Government has earmarked 33 companies for full or partial sale, these include; the National Bank of Kenya (NBK),the Kenya Commercial Bank(KCB), the Kenya Power and Lighting Company (KPLC), KenGen, Kenya Petroleum Refineries, the Kenya Ports Authority (KPA), Telkom Kenya and Kenya Railways Corporation. The methods of sale will range from concessioning, sale at the Nairobi Stock Exchange, and securing strategic partnerships with major players in the relevant sectors. 1.2 Statement of the Problem A study by Boubakri and Cosset (1994) examined the financial and operating performance of newly privatized firms in developing countries and noted that findings in for developing markets could be different from those of developed countries because the capital market may not play its monitoring role. To take account of the possibility that some of the differences between preprivatization and postprivatization performance could be due to economywide factors, the authors used performance measures adjusted for market effects in addition to unadjusted performance measures. The results were generally less significant when they adjusted the performance ratios for market effects. The authors thus concluded that this evidence brings to light the importance of considering a benchmark against which the performance of sample firms can be compared. Limi (2003) studied the influence of the level of economic development on the post-privatization growth rates in public infrastructure within the telecommunications industry and found that although privatization generally spurred network expansion in terms of telephone main lines by 4.4% in medians (5.4% on average), the performance improvement was dependent on the level of economic development. It is only the low-income and lower middle-income countries which can expect a significant positive privatization effect. Thus, it is important to account for economic development in assessing the privatization effects of public infrastructure stocks. From the foregoing it is thus useful to undertake a study to evaluate privatization and performance of public corporations listed in the Nairobi Stock Exchange. 1.3 Purpose of the Study or General Objective The purpose of this study is to evaluate privatization and performance of public corporations listed in the Nairobi Stock Exchange 1.4 Research Questions or Specific Objectives or Hypotheses This study is guided by the following research objectives formulated to aid in gathering the information regarding the research topic. Review literature on privatization of public corporations in Kenya To determine privatization factors in the Nairobi Stock Exchange To analyze privatization implications on public corporation performance in Nairobi Stock Exchange 1.5 Importance or Justification or Rationale of the Study The information generated by this study will be important for stock markets in the East Africa in understanding the implications of privatizing public corporations. This will benefit stock markets in Uganda, Tanzania and wider Eastern Africa which has the stock markets at their infancy stages. It will also assist policy makers who want to make use of performance measures of the stock market in advising public corporations on privatization prospects that may arise when listing in the stock market. In addition, it will guide policy makers of new baselines to use when determining privatization options for public corporations. Educators too in the education industry will find the information obtained from this study beneficial to their curriculum in imparting knowledge to students and researchers who are researching on the sector and how it can greatly benefit the country. 1.6 Scope of the Study The study will be limited to the Nairobi Stock Exchange for the duration 2008-2010. Nairobi Stock Exchange has about fifteen active stock broking firms with fifty two listed companies. I will focus on five of the stockbrokerage firms and fifteen of the listed companies. The use of the listed firms was due primarily to data availability and reliability because they are required by law to provide end of year financial statements. However, firms that were not listed for the entire period under study were left out of the sample. The study used annual reports that are available at the Nairobi Stock Exchange. 1.7 Definition of Terms 1.7.1 Privatization Privatization means the sale of public utilities to private concerns. 1.8 Chapter Summary This chapter covered the background of the research, the problem statement, the purpose of the study or general objectives of this research, the research objectives, the significance and scope of the research i.e. importance of the study and the definitions of Terminologies used in this research. Further, this chapter has specifically pointed the relevance of the study in regards to public corporations, and how they, in a bid to improve performance, employ a privatization strategy in light of global trends. 2.0 Chapter 2: Literature Review 2.1 Introduction This chapter will review relevant literature in line with the study objectives. 2.2 Privatization of Public Corporations in Kenya ROK(1965) noted that the establishment of the parastatals was driven by a national desire to (i) accelerate economic social development; (ii) redress regional economic imbalances; (iii) increase Kenyan Citizens participation in the economy; (iv) promote indigenous entrepreneurship; and (v) promote foreign investments (through joint ventures). This desire was expressed in the Sessional Paper No. 10 of 1965 on African Socialism and its application to planning in Kenya. A comprehensive review of the public enterprises performance was noted by (ROK, 1979) (the Report on the Review of Statutory Boards) that pointed that there was clear evidence of prolonged inefficiency, financial mismanagement, waste and malpractices in many parastatals; and (ROK, 1982) (the Report of the Working Party on Government Expenditures) which concluded that productivity of the state corporations was quite low while at the same time they continued to absorb an excessive portion of the budget, becoming a principal cause of long-term fiscal problem. The enactment of the State Corporations Act was a major attempt to streamline the management of the state corporations. The performance of most of the corporations continued to deteriorate due to the continued reliance on limited public sector financing. Sessional Paper No.4 of 1991 on Development and Employment in Kenya underlined the need to implement privatization and divestiture of State corporations urgently in view of the managerial problems afflicting the parastatals leading to poor return on government investments, the existence of a larger pool of qualified manpower, availability of more indigenous entrepreneurship to permit private sector led economy and the need for non-tax revenue for the Government. The Programme began in July 1992 with the issuance of the Policy Paper on Public Enterprises Reform and Privatization which pointed out that there were 240 commercial public enterprises with public sector equity participation and classified the PEs in to two categories: (i) 207 Non strategic commercial public enterprises which were to be privatised and 33 Strategic Commercial public enterprises which were to be restructured and retained under public sector ownership and control. By the time the first phase of the programme ca me to an end in 2000, most of the non-strategic commercial enterprises had either been fully or partially privatized, liquidated, sold under receivership while the strategic commercial enterprises to be retained under government operation had been reduced to 15 and later to 14 enterprises. The following is a list of privatized public enterprises by PUBLIC FLOATATIONS- Bamburi Portland Cement Co. Ltd, E.A., CMC Holdings Oxygen Ltd, National Bank of Kenya, Kenya Airways, Mumias Sugar Company; by PARTIAL DIVESTITUTRES Kenya Commercial Bank Ltd, Uchumi Supermarkets Ltd, General Motors (K) Ltd, and Housing Finance Company of Kenya. 2.3 Privatization Factors in the Nairobi Stock Exchange 2.3.1 Methods of privatization The term privatization has been applied to three different methods of increasing the activity of the private sector in providing public services: 1) private sector choice, financing, and production of a service;2) public-sector choice and financing with private sector production of the service selected; 3) and deregulation of private firms providing services. In the first case, the entire responsibility for a service is transferred from the public sector to the private sector, and individual consumers select and purchase the amount of services they desire from private providers. For example, solid-waste collection is provided by private firms in some communities. The third form of privatization means that government reduces or eliminates the regulatory restrictions imposed on private firms providing specific services. The second version of privatization refers to joint activity of the public and private sectors in providing services. In this case, consumers select and pay for the quantity and type of service desired through government, which then contracts with private firms to produce the desired amount and category of service. Although the government provides for the service, a private firm carries out the actual execution of it. The government determines the service level and pays the amount specified in the contract, but leaves decisions about production decisions to the private firm. 2.3.2 Advantages and Disadvantages of Privatization Etukudo (2002) sates that in sub-Saharan African countries with a high level of illiteracy, public offer for sale of state-owned enterprises has its limitations due to cumbersome formalities in the prospectus as well as complicated application forms, etc. As banking facilities are concentrated in urban centres, the use of public offer in privatization works to the disadvantage of those in rural areas with few banking facilities. On the whole, Etukudo (2002 contends that privatization programmes have led to marked increases in stock market capitalization as well as increases in the quantity and range of issues traded on the market. The stock exchange has attracted a considerable number of players to the market leading to increased competition within the capital market. The structure and function of capital markets affect the availability of capital, influence investment processes and also influence the ways in which business managers who approach investors project the current performance and future potential of their enterprises. 2.4 Privatization implications on public corporation performance in Nairobi Stock Exchange Yarrow (1986) notes that as firms move from public to private ownership, their profitability should increase. First, given that shareholders wish the firm to maximize profit, newly privatized firms managers should place greater emphasis on profit goals Second, privatization typically transfers both control rights and cash flow rights to the managers who then show a greater interest for profits and efficiency relative to pleasing the government with higher output or employment (Boycko, Shleifer and Vishny, 1993). In addition, Boycko, Shleifer and Vishny (1993) state that following privatization; firms should employ their human, financial and technological resources more efficiently because of a greater stress on profit goals and a reduction of government subsidies. Megginson, Nash and van Randenborgh (1994) note that governments expect that greater emphasis on efficiency will lead the newly privatized firm to increase its capital investment spending. Once privatized, the firm should also increase its capital expenditures because it has greater access to private debt and equity markets and it will have more incentives to invest in growth opportunities. Megginson et al (1994) believe the switch from public to private ownership should lead to a decrease in the proportion of debt in the capital structure because with the end of government debt guarantees the firms cost of borrowing will increase and because the firm has a new access to public equity markets. The authors further note that with privatization, dividend payments should increase because unlike governments private investors generally demand dividends and dividend payments are a classic response to the atomized ownership structure which most privatization programs led to. In terms of output Megginson, Nash and van Randenborgh (1994) contend that privatization should increase output because of greater competition, better incentives and more flexible financing opportunities. On the other hand Boycko, Shleifer and Vishny (1993) predicts a fall in output since the government no longer subsidizes the newly privatized firm to maintain inefficiently high output levels. Kikeri, Nellis and Shirley (1992) assert that governments expect the level of employment to decline once the SOE which is usually overstaffed turns out private and no longer receives government subsidies. However, in growing sectors, the newly privatized firm could absorb surplus labor through new capital investment and more productive use of existing assets. 2.5 Empirical experience Jones, Jammal Gokgur (1999) undertook an impact study applied to 81 privatizations (covering not just infrastructure firms but a range of firms already operating in competitive markets (in agriculture, agro-industries, tradable and non-tradable sectors) in Cote dIvoire and concluded that firms performed better after privatization and that they performed better than they would have had they remained under public ownership. The study also found that the set of transactions as a whole contributed positively to economic welfare, with annual net welfare benefits equivalent to about 25% of pre-divestiture sales. These results stemmed from a number of effects, including increases in output, investment, labor productivity, and intermediate-input productivity. 2.5 Chapter summary The chapter highlighted the different studies that sought to address the research gap. Chapter three will point out the methodology to be used in the study. Chapter 3: Research Methodology 3.1 Introduction This chapter will discuss the research methodology that will be used as the basis of this study. The chapter will also discuss the population of study, sample frame and sampling techniques, data collection methods as well as data analysis and data presentation methods to be employed in the study. 3.2 Research Design The research design employed in this study will be empirical in nature and will be aimed at delivering answers to the research questions outlined in the problem statement. 3.3 Population and Sampling Design 3.3.1 Population The population involved in the study are four privatized public corporation that have listed on the NSE. Population refers to the entire group of people, events, or things of interest that the researcher wishes to investigate. Population forms a basis from which the sample or subjects for the study is drawn. 3.3.2 Sampling Design and Sample Size Methods that we will use in our paper to analyze the operating and market performance are descriptive statistics for evaluating the post listing share price performance and the financial ratio analysis using the accounting data to evaluate public corporation performance as well as their risk and return relationships profile. Documents will collected from the organizations resource center, individual file record, libraries of various universities, company reports, company newsletter and other printed materials (e.g. newspaper cuttings, journals, text books, conference reports, articles, training packages) that were made available for the purpose of the research. 3.4 Data Collection Methods In order to achieve the set objectives, I will collect data from the Nairobi stock exchange database and from the financial statements of the individual companies under study. The collected data will be captured in form of tables. This will be used to capture performance of privatized public corporations listed on the Nairobi Stock Exchange. 3.5 Research Procedures 3.6 Data Analysis Methods This study will use the quantitative method of data analysis. The quantitative analysis is applied using descriptive statistics. According to Denscombe (1998) descriptive statistics involves a process of transforming a mass of raw data into tables, charts, with frequency distribution and percentages which are a vital part of making sense of the data. Data will be analyzed using Statistical Package for Social Sciences (SPSS) program and presented using tables and pie charts to give a clear picture of the research findings at a glance. 3.7 Chapter Summary The chapter describes the methodology that is to be used in carrying out the study. The chapter has also indicated that, data will be analyzed using SPSS and presented in inform of chart and tables. The next chapter will present the findings of the research.

Love :: essays research papers

Love is the most important aspect of human life as we know it. The reasons are because it is one of the only things that can not be bought with any amount of money so it makes it a very scarce resource. If love would have a price tag it would be for an infinite amount of dollars, pounds, or even pesos. Some people live their whole life looking for a " true love" some are lucky and find it. Some live their life la vida loca and have never found the time to find a true love. Others get tired of waiting and get married without love. Love has not changed at all over the course of history and this makes it the most important emotion in the human mind, body and soul. Over time the definition of love and what it is has been debated and argued over, but in most cases the answer is very similar. "True love is like two rivers that meet and merge, intertwining completely into one, then flowing on together. True love cannot be buried; but once unselfishly rooted it will grow forever." Quote on quote true love does exist but unfortunately is not found by all. During Plato and Socrates years it was harder to make a clear definition of love due to the fact that most people didn't have a chance to find their perfect match. Due to the politics involved in arranged marriages people didn't have a good chance to meet the person of their dreams and whom they really loved. This gave some sour views of love and the concept of true love. The lower class in the early days was the luckiest class of that time period because they had a chance to seek out the person they wanted to be with because it wasn't important if a merchants' son married a farmers' daughter, but if a prince fell in love with a farmers' daughter the chance of them being able to be together was impossible. 1 Anonymous www.home.talkcity.com/MoshPitWay/wrenwren1/quotes.html 9/25/00 12:22AM. Plato completely understood love and this is why he never got married. He was a great philosopher and communicated and learned from of great philosophers ex. Socrates and Aristotle. Plato believed that love got people hooked and got them to do abnormal things. "Love is a serious mental disease." and then he goes on to say "Love is the joy of the good, the wonder of the wise, the amazement of the gods.

Technology is the Solution to Overpopulation Essay -- Environment Envi

Technology is the Solution to Overpopulation About ten years ago while in a science museum, I saw a counter that estimated what the world population was at that given moment. Innocuous at first glance, since a number in excess of five billion is difficult to comprehend, what became alarming after watching the counter for a minute was the continual increase in the population. Thinking about the circumstances related to the population rise logically made the problem seem apparent. The earth is finite both in terms of physical size and in resources but the population is growing towards an infinite value. At some point the steadily rising population will move from being a problem that is geographically distant to one that is immediate and more salient than just an increasing value on a faceless counter. This problem of population growth leads to a number of solutions that could have significant implications on the quality of life. Taking no action and allowing population to grow unchecked could possibly risk the entire human species if food or clean water were to become unavailable worldwide. Aiming for zero population growth would in theory maintain the existing quality of life since a stable population would not increase their use of resources. However not all resources are renewable, so scarcities could still occur with a fixed population size. In an extreme case permanent resource depletion under zero population growth could have the same extinction effect that unchecked growth can lead to. Despite the escalating risk of unchecked population growth, technological advances necessitated by the increase in population will at least maintain the quality of life and could possibly improve conditions. Southwick in â€Å"Global Ecol... ...ould accept the fact that not all people of the world will be able to have a high standard of living but the potential for improved quality exists. This potential cannot be reached immediately since resources and population remain geographically separate and faster transportation would increase the spread of fatal diseases. Improvements in resource production such as increased crop yields makes it possible to support higher populations and improve the quality of life at least at a local level. References Southwick, C. H. Global Ecology in Human Perspective, Chapter 15. Oxford Univ. Press. (1996). World Health Organization â€Å"Frequently Asked Questions on Severe Acute Respiratory Syndrome (SARS),† Communicable Disease Surveillance & Response (CSR), March 24. (2003). World Health Organization . Retrieved March 29, 2004.

Franz Joseph Haydn Essay -- essays research papers

FRANZ JOSEPH HAYDN   Ã‚  Ã‚  Ã‚  Ã‚   Dear President Schneider : On behalf of the great Franz Joseph Haydn, I write this letter of recommendation to support the admission of a great composer into the International Enlightenment Society. In order for a musician to be eligible for your society, I understand that he must embody the characteristics of the Enlightenment and more specifically, as a composer, his music must possess the characteristics of the Classical period. I assure you that what you will find in this letter of recommendation will not be disappointing. Franz Joseph Haydn was a great composer of the Classical era. Known as the Father of Symphony and the inventor of string quartets, the examples and styles that Haydn set forth were relied upon by Mozart and Beethoven in creating their own respective masterpieces.   Ã‚  Ã‚  Ã‚  Ã‚  Born in a small town just inside Austrian borders, Haydn did not have much of a chance to be anything other than a wheelwright like his father. However, his father was a man who loved to sing and when Haydn was a boy, he memorized almost every song his father sang. This was his beginning in music. Later on, he received an education from his uncle where he gained more of an interest in music. Participation in a choir gave him the opportunity to go to Vienna and there, he studied the piano sonatas of Emanuel Bach and was given the chance to finally get a chance to compose; something he had always wanted to do. This is when the first string quartet was developed. Later on, he was employed by the Esterhazy family and was given the chance to conduct an orchestra and write symphonies. It was at this time and place that Haydn was “completely isolated from the world…he could experiment…improve, alter, add, or cut as boldly as he pleased.'; This was the s tart of a magnificent career.   Ã‚  Ã‚  Ã‚  Ã‚  To understand why Haydn was a great classical composer, it is important to understand the certain characteristics and themes of the Classical Period. Unlike baroque music, classical was secular; it was non-religious and it resided more in the homes of nobles or in public works rather than in the church. There was the creation of symphonies, string quartets, and piano sonatas using a method called the sonata form. Unlike the complicated baroque counterpoint ... ..., and prancing horses down to the wrigglings of the humble earthworm.'; Despite being of a Baroque genre, it was simple and logically thematic making it more Classical than it was baroque. As you can quite see Mrs. President, Franz Joseph Haydn, definitely belongs in the International Enlightenment society. He was the inventor of the string quartets and the father of symphony, two important genres of the Classical period. He created the sonata form which has been echoed by other great composers including Mozart and Beethoven. His wide variety of music from happy dancing to somber funeral music was greatly appreciated by the public and the nobles earning him a honorary degree from Oxford as Doctor of Music. Unlike Mozart or Beethoven, when Haydn died he was not forgotten. Two weeks after his death, “the whole art-loving world of Vienna';, went to a great memorial service at the city center in honor of the greatest composer of the Classical period. If substance, restraint, simplicity, and balance of music are important characteristics of the Classical style, then it is not difficult to see why through his music, that Haydn was the greatest composer of Classical his tory.

Interpretation Job

I deem the Graduate Trainee Program as one of the epitomes of Centrelink's thrust in showcasing the best and brightest Australia has to offer the international community. Being part of a vibrant, dedicated and diverse group of individuals entrusted to foster understanding and promote the country's foreign and trade relations is a challenge anyone who believes in Australia should be proud to be a part of. Having read Politics and Government in university and presently doing my post-graduate studies in International Relations give me the fundamental, if not advanced, skills as well as awareness of local and international socio-political and economic realities of today. Complementary to my academic skills are the English language teaching experiences I have locally and abroad, which contributed immensely to my understanding of different cultures and peoples of varying age group. Being trilingual (English, Korean and street Japanese) gives me the edge to appreciate not only the language of other people but the nuances of what a language conveys, this is a paramount trait in comprehending the distinct language of diplomacy. It has helped me deal with clients in an interpretation job, students in a teaching assignment or local tribes people in medical or mercy missions. One of the jobs I do on the side is translation and interpretation work from Korean to English and vice versa. This type of work deals with Korean trade delegations coming to Australia to deal with Australian business owners. Both Korean and Australian clients require submission of a written project proposal prior to getting the tasking. The proposal calls for demonstrating my competence and advanced level of understanding not only of the Korean and English languages but the cultures as well. In writing the proposal, I set my plan of action and the methodology to be used for the translation and interpretation processes. After the clients read through my proposal, I present it to both parties and convince them of my being the right person to get the job done. During the actual translation/interpretation work, I sometimes observe that the principals' understanding of what each said to the other may get â€Å"lost in translation. † The outcome of which is that on several occasions, I had to mediate and arbitrate so that the two factions agree on correct interpretations. It is noteworthy seeing conflicting parties come to terms because of my diplomatic approach and diligence in getting the job done properly. In 2001, while doing community re-building voluntary work with the Youth with a Mission (YMAN), a non-government organization assisting marginalized communities worldwide, I was a â€Å"trainee team leader† charged with a group of young volunteers from the United States, Canada, Australia, Fiji and even Australian aborigines. We were in northern Thailand amongst the Karen and Hmong tribes and I found out that due to their patriarchal society, the males in the tribes refused to work with our female volunteers. This caused some setbacks since individual assignments were already given prior to arriving on site. As the team leader of the group, I discussed this problem with the senior team leader and recommended that we should respect their culture in order to complete the mission. I talked with the team and organised the male volunteers to work in building houses and improving the local site. The female volunteers took on the English teaching assignments and medical assistance. This went well with the local populace and we gained their respect because we demonstrated our reverence for their beliefs. I would have done things differently by studying the culture, beliefs and peculiarities of the tribes first prior to embarking on another volunteer mission. Team success rests with good leadership and management. I related the leader and manager role since despite being distinct characteristics, they are inseparable traits of someone charged with such daunting assignment. A leader/manager must have the vision to effectively implement tasks and the steadfastness to successfully complete mission objectives. My value as a team member is the ability to work cohesively with each team member and agree to set aside idiosyncrasies in order to fulfill collective goals. People with different backgrounds can be incorporated in a team by appealing to their individual aims and marry them with the strategic objectives. During one of my courses in post-graduate studies, our class simulated a United Nations Security Council meeting and I played the part of the Secretary General. We were doing North Korean nuclear proliferation conflict resolution and individuals have their own opinions on how best to mitigate the problem. Playing the goodwill role, I contributed to the team output by consolidating valid points from individuals and getting a group consensus that the solution to North Korea's nuclear arms program is by catering to the North Korean's need for aid in exchange for reduction or total demobilization of the nuclear arms. While working as a contractual English instructor in Korea, I noticed that the students learning English, though very diligent and hardworking, English have a hard time with conversational, street-speak and business English. This is due to the formation of the program wherein they learn classroom and â€Å"theoretical† English but lacking the suave and practical application. Korea is a very rigid and structured society and change usually comes at a difficult phase. I adapted and conformed to the norms of the school but took the initiative by instructing my students to prepare a five-minute oral presentation of a country of their choice. The presentations have to be made with individually hand-made posters to have more impact in terms of graphics. After each student's presentation, critiques from the class – in English, were done and this further confirmed the value of the pioneering teaching methodology. Needless to say, my technique was adapted by other teachers, who found it more efficient than the processes they have been using for years. Even the school director was pleased with my achievement that when my contract ended, he offered to renew it but I declined since I had to go back to Australia to pursue my studies.

Industrial Instrumentation On Load Cells Engineering Essay

Load cells are detectors which are used to mensurate the degree or force per unit area by change overing the force ( torsion or mass ) into electrical signals and so these signals are displayed by the show unit to demo the degree or force per unit area. Load cells are besides known as burden transducers. In dictionary, a burden cell is known as â€Å" weight mensurating device necessary for electronic signal that displays weight in the signifier of figures. † Load cells can be classified harmonizing to their operations: Load cells that utilize liquid force per unit area or air force per unit area. Load cells that utilize snap. Load cells that utilize a magnetostriction or piezoelectric consequence. The strain gage burden cell is the largely used among the all sorts of burden cells. Therefore, when we say â€Å" burden cell, † we are largely mentioning to strive gauge burden cells. Although there are many other measurement devices, such as piezoelectric detectors, magnetostrictive detectors, electrical capacity detector and other detectors.1.2-Types of Load cellsStrain gage burden cells Tension burden cells Pneumatic burden cells Hydraulic burden cells Shear Load Cells Compression Load Cells Bending Load Cells Ringing Torsion Load Cells Pancake Load Cells Single Point Load Cells1.3-Strain Gauge Load CellsThis is a type of burden cell which is usage to mensurate the degree of any storage vas.1.3.1-Working ruleWhen force per unit area is applied on a music director its length alterations due to which opposition of the music director alterations and relation to the alteration in opposition show unit displays the alteration in degree.1.3.2-Construction and workingA strain gage is consists of a long length music director which is arranged in zig-zag manner on the flexible membrane which is exposed to the applied force per unit area country. This music director is connected in a wheat rock span as a resistance and when force per unit area or weight is applied on the membrane which is connected to the music director it gets stretched and due to stretching the length of the music director alterations and due to alter in length the opposition of the music director additions. These are normally four or a multiple of four, are connected into a wheat rock span constellation in order to change over the really little alteration in the opposition into the suited electrical signal. As these gages are combination of mechanical and electrical constituents so the mechanical parts are located at the site but electrical parts are in the control suites due to their environmental and temperature sensitivenesss. And the wires used for the transmittal of the signals besides have their ain opposition so that opposition besides considered during their building. The accommodation and arrangement of the strain gage burden cell in the wheat rock span and its working phenomena is shown in the undermentioned diagrams. Strain gage burden cells are placed at the underside of the vass largely to mensurate the degree of the column or vas. 00204.png Figure Figure 00205.png1.3.3-AdvantagesStrain gage burden cells are used in automotive industry to look into the structural public presentations of the stuff used in doors, goons, short pantss etc. Strain gage burden cells can be usage for weighing intents. Strain gage burden cells can besides be usage for stuff testing in procedure industry besides. Strain gage burden cells are besides used in tensile trial machines as a major constituent. Strain gage burden cells truth is 0.07 % of the rated capacity Strain gage burden cells can be used for both enlargement and compaction. Strain gage burden cells are less dearly-won so largely used in the industry.1.3.4-DisadvantagesStrain gage burden cells require uninterrupted electric energy for the production and show of signals. Strain gage burden cells besides requires an elaboration circuit for the coevals of end product show because the signals produced by the gage itself are of really much low electromotive force about in milli Vs. Strain gage burden cells can non be used for the force per unit area measuring of extremely reactive or caustic stuffs because they can damage the gage. Strain gage burden cells can non be used for the measuring of really high force per unit area if the stop usage is of plastic.1.4-Tension Load CellsThis is another type of burden cell which is besides usage to step to the degree.1.4.1-Working PrincipleIt consists of a vibrating wire transducer, fixed in a thick-vessel metallic cylinder, designed to supply a extremely stable and sensitive agencies of supervising tensile tonss in weighing systems, like procedure weighing systems and batch systems. As the applied burden additions on the burden cells the force on the internal vibrating wire besides increases by altering its tenseness, and therefore the resonating frequence of the vibrating wire. The frequence is measured and relative to the applied weight.1.4.2-Construction and workingThe chief portion of this burden cell is strain gauged stop which is for good secured in the transducer shell. The transducer is fitted with a metallic oculus leting in line connexion to the deliberation system, and a metallic hook, attached to the sensitive stop, provides a agency by which weight is applied in a suspended manner. The burden cell is vented to the ambiance to extinguish barometric effects for the upper limit or optimal truth. The signal overseas telegram which is attached to the burden cell is connected with the control room where these signals can be monitored. Figure There are besides some Thermistors placed inside its shell which are used to mensurate the temperature of the working fluid or vas. Degree centigrade: UsersAlY RaZaAppDataLocalMicrosoftWindowsTemporary Internet FilesContent.WordUntitled.png1.4.3-AdvantagesThe chief advantage of the tenseness burden cell is that it is extremely sensitive and stable. As it is a vibrating component wire detector and its end product is frequency so it is non affected by the alteration in the overseas telegram opposition and therefore long signal overseas telegrams are non jobs. The frequence of the vibrating wire is measured by either the portable read-out box or informations lumberman. So it can give more accurate readings. The end product signal scopes in the electromotive force from 0 to 5 Vs so there is no elaboration unit required and therefore the cost lessenings. The rated capacity of the tortuosity burden cell is from 10 kilograms to 15 kilograms. The truth of the tortuosity burden cells is A ±0.1 % The temperature ranges for the working or operation of the tortuosity burden cells is -20A °C to +80A °C. Such types of transducers have about zero impetus and have besides really low consequence of temperature on its truth.1.4.4-DisadvantagesThis type of burden cells can non be used for high temperature fluids to happen degree or weight of fluid incorporating column. This type of burden cells can non besides be used for high capacities or for big armored combat vehicles column or weight measurings. This type of burden cell is extremely affected by the high temperatures due to its sensitive nature of the detection wire.1.5-Pneumatic Load CellsThis is another type of burden cells which are usage to mensurate the weight in the industry and these are used for low capacity.1.5.1-Working PrincipleThis type of burden cells works on â€Å" the force-balance rule. †1.5.2-The Force-Balance PrincipleThe inertial force produced by a seismal land gesture shifts the mass from its original equilibrium place, and the alteration in place or speed of the mass is so interpreted into an electric signal. This rule is for low scope burden cells. For long scope burden cells the inertial force is balanced with an electrically generated force so that the mass moves every bit low as possible.1.5.3-Working of pneumatic burden cellThis sort of burden cells consist of a detection component which is exposed to the site or the vas of which force per unit area or lying unstable weight is to be measured. And in this sort of burden cell the force reassigning medium is air as comparison to the any other fluid in instance of hydraulic burden cell. When force is applied by the lying fluid on the feeling portion of the burden cell it transfers this force to the inside air and so this force is applied on the potentiometer which is placed in the wheat rock span. As the force is applied on the feeling portion of the burden cell the opposition of the variable opposition potentiometer alterations due to this force and therefore the possible equilibrium between the oppositions is disturbed and this shows the magnitude of the applied force on the feeling component by exposing it on the show unit. Figure pneumatic.gif Another technique which is largely used in such sort of burden cells is the use of the piezoelectric crystals. In this sort the detection component transportations applied force to the interior fluid ( air ) and it imparts this force on the crystal. And due to the application of the applied force on the crystal by agencies of air its construction gets disturbed and due to disturbance in the construction the possible across the crystal alterations and this alteration in the possible across the crystal is detected by the voltmeter and so this electromotive force is converted into weight of force units and displayed on the exposing unit. Most of the clip wheat rock span is used for this sort of burden cell and there is merely variable resistance largely used while other resistances in the wheat rock span are of fixed opposition.1.5.4-AdvantagesThey are largely used on smaller tons when safety and protection are of premier concern. They are better in truth as comparison to the hydraulic burden cells because there is no alteration in the denseness and truth of the fluid being used for the transportation of applied force. They besides preferred on the hydraulic burden cells because there is no usage of liquid in these sorts of burden cells. These types of burden cells are inherently explosion cogent evidence and insensitive to temperature fluctuations. As they contain no fluids so there is no job of taint of the procedure if the stop gets ruptured. Pneumatic burden cells are besides used to mensurate little weights that depend upon cleanliness and safety.1.5.5-DisadvantagesThe chief disadvantage of these types of burden cells is that they can non be used for high measure measuring. Although they are really resistive to the temperature effects but their truth even acquire disturbed at really high temperature.1.6-Hydraulic Load CellsThis is another type of burden cells which are used to mensurate the magnitude of the applied force and their transition to the electric signals and its digital show.1.6.1-Working PrincipleThis type of burden cells besides work on â€Å" the force-balance rule. † The difference between the pneumatic burden cell and hydraulic burden cell is merely the transferring medium. In instance of pneumatic burden cell the force reassigning medium is air while in hydraulic burden cells the force reassigning medium is largely liquid or incompressible oil which is besides known as break oil.1.6.2-Construction and workingHydraulic burden cell consists of a fluid which act as a force reassigning medium and a piezoelectric crystal which is usage to change over this applied force into possible difference and so there is an agreement for the transition of this possible difference in footings of weight or force per unit area. There is a stop which is usage to feel the force exerted from the external side and the whole shell in which this complete cell is enclosed. When the force per unit area or weight by the vas or column is applied on the stop of the burden cell it sense that force and so transportations this force to the fluid which is filled in the shell of this burden cell. Then this force is transferred to the piezoelectric crystal by the fluid or oil and this oil transfers this force by the Pascal ‘s jurisprudence. So when the force is transferred by the oil it disturbs the internal construction of the piezoelectric crystal and due to this alteration in the construction of the piezoelectric crystal a possible difference is generated across the piezoelectric crystal. This possible difference is detected by the electric sensor and electric signal is transferred to the show unit to expose the magnitude of the applied force, weight or force per unit area. Figure Hydraulic.gif1.6.3-AdvantagesThese are largely use to happen the weight of the stuff in the storage armored combat vehicles, bin or hopper. The end product given by these types of burden cells is additive and largely unaffected by the sum of the filling fluid ( oil ) or by its temperature. If the hydraulic burden cells have been decently installed and calibrated so truth is largely within 0.25 % full graduated table or better and this is acceptable for most procedure weighing applications. As these types of burden cells have no electrical constituents therefore it is ideal for usage in risky or caustic countries. For more accurate measuring, the weight of the armored combat vehicle should be obtained by turn uping a burden cell at different points and summing their end products.1.6.4-DisadvantagesOne disadvantage of this type of burden cell is that the elastomeric stop limits the maximal force that can be applied on the Piston or stop to about 1,000 psig. Electronic pari-mutuel machine is required in instance of acquiring more accurate reading by summing the readings of the single burden cells. Another disadvantage of hydraulic burden cell is that they are expensive and are complex to utilize.1.7-Shear Load CellsThis is another type of burden cells which is usage to mensurate the weight or the degree of the column incorporating fluid or some stuff.1.7.1-Working PrincipleThis type of burden cells works on the shear of the web. A web of an elastic stuff is inserted at some degree in the vas or storage armored combat vehicle and a shear emphasis exerted by the unstable column stretches the web harmonizing to the burden of the unstable column. Therefore by mensurating the shear emphasis the degree or weight of the fluid in a column can be measured.1.7.2-Construction and workingThis type of burden cells consists of a web and a frame which is movable and the web is fixed with this frame. There are strain gages which are straight connected with this web and step the weight or degree of the column by mensurating the shear emphasis exerted by the liquid nowadays in the column on the web. As the web is inserted in the liquid column, liquid exerts the force on this web as this web is stretchy and elastic so it gets stretched and this stretched province of the web is sensed by the strain gages. This web is inserted in the liquid column perpendicular to the axis of the column. Then strain gages transfers the mensural value of the shear emphasis exerted by the tallness of the liquid column to the electrical transducers which converts it into electrical signals and so transmits it to the show unit to expose the mensural value of the weight in footings of degree or force per unit area as we required. Figure1.7.3-AdvantagesShear burden cells are popular now for all type of mediums and for high capacities. Shear-web is non limited to merely beam constellations. Shear-web detection component is besides being used by high capacity BSP and USP in a more complex manner. Shear burden cell engineering is besides being used in rearward transducers. Shear tonss cells can readily be sealed and can be protected from the environmental effects.1.7.4-DisadvantagesShear burden cells have comparatively little sensitiveness at the burden point so can non be used for little graduated table measurings. Shear burden cells are expensive as comparison to the strain gages. Shear burden cells are delicate merely because of the web which is really delicate and can be easy damage due to overload fro few minutes even.

Issues Concerning IT Outsourcing

Companies are increasingly outsourcing the management of information technology (IT) for reasons that include concern for cost and quality, lagging IT performance, supplier pressure, access to special technical and application skills, and other financial factors. The outsourcing solution is acceptable to large and small firms alike because strategic alliances are now more common and the IT environment is changing rapidly. Although the mix of factors raising the possibility of outsourcing varies widely from one company to another, there are a series of themes that explain most of the pressures to outsource. First of all, general managers† concerns about cost and quality drive outsourcing. The same issues such as getting existing services for a reduced price at acceptable quality standard came up repeatedly. Second, failure to meet service standards can force management to find other ways of achieving reliability. It is not atypical to find a company in which cumulative IT management neglect eventually culminated in an out-of-control situation the current IT department could not recover from. Management can see outsourcing as a way to fix a broken department. Third, a firm under intense cost or competitive pressures, which does not see IT as its core competence, may find outsourcing a way to delegate time-consuming, messy problems so it can focus scarce management time and energy on other differentiators. Next, several financial issues can make outsourcing appealing. One is the opportunity to liquidate the firm†s intangible IT asset, thus strengthening the balance sheet and avoiding a stream of sporadic capital investments in the future. Also, outsourcing can turn a largely fixed-cost business into one with variable costs. This is particularly important for firms whose activities vary widely in volume from one year to another or which face significant downsizing. Outsourcing has identified numerous potential benefits. Financial benefits from outsourcing included rapid funding of new systems development and economies of scale and scope. As consolidate infrastructure through IT outsourcing, a firm can experience cost reductions in hardware and software licensing, facilities, and support headcount. Outsourcing, also, can capitalize on an outside vendor†s extensive IT problem solving knowledge. An outside vendor had the ability to get more of the technology that came out. They could spend money on investments that a company couldn†t afford internally. That opens up a lot more avenues to future technologies. An outside vendor would manage the IT function more efficiently. A vendor†s main competency is managing computer systems. Through their skills, leverage, and economies of scale, they could provide a level of efficiency that could not be achieved at the outsourcer. Finally, Perhaps most important, outsourcing allow internal IT managers to focus on the development of a new IT infrastructure. Underlying the outsourcing effort is a fundamental strategy to offload legacy applications and operations so a firm could focus on developing new strategic application to support the global business processes, which were being reengineered. There are many ways to manage IT outsourcing since every company has different culture, strategy, structure, people, and process. Also, many important issues such as structure, Information management operating processes, management processes, human resources management should be clarified. However, I†m here going to use Xerox†s outsourcing process. A company may go through 5 phases to reach a successful outsourcing; Fact Gathering, Request for Proposal and Data Gathering, Feasibility and management Approval, Baseline Building and Evaluation, Due Diligence and Contract Awarded. At first, information management (IM) collects the facts the company faces and design team recommendation. Then IM request for information to numerous vendors. After compare their response with evaluation checklist which includes technical, HR, financial, contractual factors, IM conclude the feasibility of outsourcing and make recommendation for management. Then, with the Management†s approval, IM start to build best-case model and contract terms while evaluate the vendors† proposal using evaluation checklist again. Then, the final negotiation and selection for contract development will be made and, finally, terms are finalized and contract is drafted. Many outsourcing contracts are structured for very long periods in a world of fast-moving technical and business change. Eight to ten years is the normal length of a contract in an environment in which computer chip performance is shifting by 20 to 30 percent per year. Consequently, a deal that made sense at the beginning may take less economic sense three years later and require adjustments to function effectively. Exacerbating the situation is the timing of benefits. The first-year benefits are clear to customer, who often receives a one-time capital payment. The customer then feels relieved to shift problems and issues to another organization. The situation from the outsourcer†s perspective is just the reverse. The first year may require a heavy capital payment followed by the extraordinary costs for switching responsibility to them and executing the appropriate cost-reduction initiatives. All this is done in anticipation of a back-loaded profit flow. At precisely the time the outsourcer is finally moving into its earnings stream, the customer, perhaps feeling the need for new services, is chafing under monthly charges and anxious to move to new IT architectures. If the customer has not had experience in partnering activities before, the relationship can develop profound tensions. The evolution of technologies often changes the strategic relevance of IT service to a firm. From the customer†s viewpoint, assigning a commodity service to an outsider is very attractive if the price is right. Delegating a firm†s service differentiator is another matter. The customer that made the original decision on efficiency will judge it differently if using effectiveness criteria later. IT outsourcing has so many positive effects for a company even though it still contains various problem needed to be solved. In the Internet age, any company may want to focus its internal staff on moving it to the environment that will support them tomorrow and outsourcing could be one of the best solutions. Also, outsourcing is really more of an integration of two separate businesses to be successful. Both want to take the best parts of each culture and put them together. In addition, critical success factors including existence of a multi-years, corporate commitment to the IM strategy and outsourcing, and quality culture and attitude should be considered in outsourcing.

Franchise vs New Business Essay

Gaining profit is one of the reasons why most people do business. They buy stocks, start their own business, or the most popular now is franchising. However, due to some factors – economy and competition- it is somewhat risky to do so. Hence, in deciding, one should know the pros and cons of each. Deciding whether to invest money on franchise or start a new business requires knowing the different features one can get are worth the cost he/she has to pay for. This may seem to be a debatable issue that is why the organization JAM prepared a debate regarding this issue. There were two groups, each group had discussed and rebutted. It is your own idea (originality), you are the boss and you can implement basic management principles (planning, controlling, etc) are some of the reasons given by those who favor starting a new business. But, we noticed that the most of their answers were being repeated and not elaborated by providing specific examples. An example is the implementation of management principles. It would have been better if they have provided situations in which these can be used since these management principles can still be used in franchising. Furthermore, when they had rebutted the other group, we noticed that they just repeated what the other group had said without elaborating it further. Despite some weak points, there are some good things they had pointed out. They discussed that on starting a new business one can reap the fruit of its own labor. One has control with the business without the franchisors collecting fees. This may seem true since in franchising one cannot change the business. It is as it is. The group of franchising, on the other hand, pointed out that it is less risky since there is an existing business and a protective reputation from the franchisor. One good point that they had discussed was the advantages of franchise. They talked about the continuous support from management, advertising was not costly, and no required feasibility study. However, this strong point is somewhat their weak point for reason that they merely focused on discussing it without opposing the other side. The time was consumed explaining them. In a nutshell, we can say that it went good since we gained idea on the advantages and disadvantages of the two. This will help us a lot in the future on how best to use our money.

Research proposal (add payment) Assignment Example | Topics and Well Written Essays - 500 words

Research proposal (add payment) - Assignment Example The main benefits of this topic and research is that it allows the managers of the 21st centaury understand how to motivate their employees based on the various theories that have been developed in the past. The main aim of this research is to use the knowledge gained from the past theories and to provide a clearer view to managers to help them be able to incorporate these theories into the current time in the corporate world. The research will also contain recommendations based on the various theories however will be a newer approach to fit into the current corporate world. Managing people at work is an essential element of any business. Human Resources Management is a specialised function by itself and requires to be managed with special care and attention. Employees are an asset to any company. Human resource management deals with managing these assets. Human resource management deals with ensuring that all the needs of employees are met and that the company receives the best from the employees. It is very important for the business to ensure that the employees that have been recruited are able to perform the duties both effectively and efficiently. The key ideas for managing people revolve around Psychology, Sociology, Unitarism, Pluralism, Contingency theory and Ethics (Buchanan and Huczynski, 2004). There are a number of different strands of thoughts in the field of motivation of employees. There have been several scholars who have developed a number of theories about the optimum ways to manage people at work. The dissertation will include the theories of many that will be discussed further. The management theories to a great extent provide a clear ground work of this provides a steady base for this study. This is majorly because it is essential to understand the theories of management before moving into the motivational theories. Management theories are in a number if ways the first and most essential elements of business which every

Technology with Business Essay Example | Topics and Well Written Essays - 1500 words

Technology with Business - Essay Example It is used to automate the payroll functions. As a result of this automation, Microcel has been able to reduce the level of paperwork to a substantial level. Another module is attendance which in combination with biometrics automatically tracks employee attendance records. These software modules are tested in-house and therefore the HR processes which are standardized are automated. This saves a considerable level of costs. The company operates in a highly competitive industry and the use of cost-saving technology enables it to develop a competitive advantage. Technology in sales and marketing Because the software development industry is characterized by high competition, Microcel must attempt to provide solutions which deliver a high level of value. By employing information technology, the company improves operational efficiency and therefore is able to provide great customer service. According to the sales manager, the implementation of information technology enables his sales forc e to stay in constant touch with the customers, thus creating an efficient communications system. Because the company is in the business of providing IT services, it has the infrastructure which can incorporate the latest IT technology. This also serves as a unique selling proposition. The clients can see the software technology function at Microcel and thus make their purchase decisions. Therefore the use of IT enables Microcel not only to improve the efficiency of operational processes within the company but also to demonstrate the products to the clients. In this manner the software products not only generate revenue but also save costs. As mentioned before, the company operates in a competitive industry. There are quite a number of other companies which are developing human resource software. Other companies such as Trinet and Administaff are also developing human resource software. Therefore Microcel has to develop the best products in the industry so that it can continue to wi n market share away from other competitors. Because competitors like Trinet and Administaff are already well entrenched in the market, it may not be possible for a smaller company like Microcel to compete with them. Therefore the strategic focus of the company has been to focus upon those segments of the market which have not been using software products up to this time. These smaller companies do not have the resources to make massive cash outlays for purchasing software products. For this reason Microcel has focused upon minimizing product development costs. This allows the company to offer products at a relatively lower cost, thus making them affordable to the smaller companies which have not considered installing human resource information systems. Technology in human resource management At Microcel , the employees are considered to be the most important assets. Therefore the management focuses upon maintaining a motivated work force. Since the company operates in a competitive environment, it has to create a sustainable competitive advantage. According to Porter’s framework for competitive strategies, a company can implement the strategies of cost minimization, differentiation and focus to create a competitive advantage. However the competing organizations can also implement these same strategies and therefore none of the companies has a competitive edge any longer. On the other hand, if the organizational culture serves as the source of the competitive edge, then it becomes sustainable

Management - Service Package Essay Example | Topics and Well Written Essays - 1250 words

Management - Service Package - Essay Example An elderly care center is a specialized place designed to take care of elderly people in the society. Therefore, a number of supporting facilities must be taken care of before elderly people are admitted into the elderly care center. In some states, it is a requirement that all elderly care centers comply with state regulations concerning the nursing home reform act. Supporting facilities Supporting facilities refer to physical resources that must be in place before a service can be given out. A key component of facilitating goods encompasses architectural appropriateness, which means that the structures should be tailored according to the needs of the elderly people. In terms of architecture, the houses should be constructed in line with the prevailing climatic conditions of the place where the elderly care centre will be located (White & Duncan 263). The houses should encompass various rooms with washrooms, which are well maintained to cater for the needs of the elderly. The archit ectural design should provide for facilities such as places where the elderly can rest whenever they want to relax. The interior decor should consist of quality furniture and the house should be well decorated. The tables, sofas, and other furniture should be made with appropriate designs and from quality timber. The layout of the facility should be placed in a location with a good flow of traffic to avoid any unnecessary disturbance to the elderly. Other essential supporting facilities include facilities to ensure safety against fire, grab bars in bathrooms and toilets, private toilets and bathrooms, safes, and locked drawers. The houses should also be equipped with supporting facilities such as temperature controls and heating facilities. Other supporting facilities include fitness rooms, libraries, activity rooms, theatres, open grounds for exercises, and walking facilities for persons with walking problems (White & Duncan 268). To improve on security within the housing facility, wander alert systems, alarmed exits, automated fire sprinkler systems, and enclosed yards should be considered. Facilitating goods Facilitating goods refer to goods consumed by buyer or goods as well as materials purchased and consumed by the providers of services. The facilitating goods necessary in an elderly care centre include quality mattresses and warm blankets. Quality will ensure that the elderly feel comfortable when they sleep while the warm blankets will significantly reduce the chances of them to feel cold. Sleeping in a comfortable place can reduce the chances of conditions such as backaches and flu. The caregivers should also be provided with mattresses of high quality as well as warm blankets. This will ensure that they do not have any hindrance while providing services to the elderly (Johnston & Clark 32). Other essential facilitating goods, which should be made available in the elderly care centre, include toothpaste, shampoo, as well as uniforms for the elders and caregivers. Toothpaste and shampoo are essential goods, which ensure the general well being and hygiene in the elderly care centre. Uniforms should be provided as they play an essential role in identifying both the caregivers and the elders. This helps in differentiating between the elderly and caregivers. Service explicit The explicit services refer to benefits, which can be observed and felt with the use of the senses. The achievement of explicit services calls for the employment of qualified caregivers who can treat