Tuesday, December 31, 2019
Anti-Intellectualism and Standardized Testing - Free Essay Example
Sample details Pages: 9 Words: 2607 Downloads: 7 Date added: 2019/06/24 Category Management Essay Level High school Tags: Standardized Testing Essay Did you like this example? A population in which does not think original thought is easiest to control. The government and thus, Americas education system is set up to subconsciously discourage the population from producing its own ideas. As a society that keeps higher-education in such high esteem, why dont our government leaders want the populous to contribute to the world of complex thinkers? Standardized testing is a mechanism by which the government measures our knowledge and determines how much money our public schools and educators receive, it is also the greatest contributor to anti-intellectualism in our educational system. Donââ¬â¢t waste time! Our writers will create an original "Anti-Intellectualism and Standardized Testing" essay for you Create order I will explore decades of research as well as my own past experiences to determine why standardized testing is still in existence even though years of research has found that it has little to no positive effect on students and faculty. Standardized testing contributes to anti-intellectualism by limiting student knowledge and free thinking in order to do well on a test that does not contribute to expanding their knowledge and learning. Richard Hofstadter was a professor at Columbia University, Pulitzer Prize-winning author and is one of the most revered American historians of the twentieth century. Hofstadter believed that anti-intellectualism was being promoted in higher-education and in the workplace. Deeply rooted in the government is a desire to keep people from thinking of their own ideas. Hofstadters ideas are completely logical; anyone who takes a deeper look into how the government and subsequently, the education system, is run can see that there are many mechanisms by which they do this. Coincidentally, only those who think like intellectuals are able to notice what is happening. When discussing anti-intellectualism, you must first understand what an intellectual is. Hofstadter gives no clear definition of what anti-intellectualism is, but Hofstadter writes what he believes an intellectual is Certainly the intellectual, if he is nothing else, is one who relishes the play of the mind for its own sake, for whom it is one of the major ends of life, (Hofstadter 259). In the above quotation, Hofstadter explains what he thinks is the most defining characteristic of what an i ntellectual is. An intellectual, Hofstadter says, even after accomplishing what most people would find totally satisfying, yearns for more. It does not necessarily have to be material, it can be knowledge or understanding. Being able to grasp Hofstadters idea of anti-intellectualism, is a stepping stone to understanding the negative effect of standardized testing on students learning. To understand why modern standardized testing is dysfunctional, we must first discuss the origins of standardized tests and their functions. The first standardized tests were taken in ancient China. The tests were used to measure the knowledge of a citizen to determine if they were smart enough to become a civil servant. Because ancient China was one of the only societies that a serf could move up the hierarchy, it was used to measure serf knowledge about Confucian philosophy and poetry (Fletcher). Since then they have been introduced all over the world. At first, examiners thought it best to give students essays as to follow the Socratic method of testing, but as the number of schools and the number of students inside those schools grew, it was no longer feasible to take and read in the time given. So standardized tests were introduced in the early 1800s as a way to test and grade large numbers of students in a brief period of time. Later during World War I, standardized tests were used to determine what a soldiers job would be or if they were qualified to ?ââ¬Å¡Ã ¬be a soldier at all. All of these tests were graded b y hand and needed to be done slowly to avoid mistakes which defeated the purpose of standardized testing. In 1936, the first automatic scanner was invented. The IBM 805 used electrical currents to detects marks by special writing tools (just like how a No. 2 pencil is used today) (Fletcher). This method of using computers to grade is used today in the form of Pearsons Scantron bubble sheets. The two most common standardized test used today are the ACT and SAT. Both are used as college aptitude tests. The SAT was created in 1926 by The College Board and the ACT in 1959 by Everett Franklin Lindquist (who later went on to develop the first GED test). Both originated as tests of logic but later evolved into tests of accumulated knowledge (Fletcher). These two examples of standardized tests are only the beginning, or should I say the end? Both the ACT and SAT are taken the junior year of high school. Since President George W. Bushs No Child Left Behind education reform in 2001, the number of standardized tests taken by children kindergarten through twelfth grade has increased dramatically. Most students take at least one standardized test a year. No Child Left Behind was the law that was passed to update the Elementary and Secondary Education Act of 1965. It was created to combat the growing concern about how the American educational system was no longer competitive internationally (Klein). The main goal of the law was to improve the academic p erformance of students whose first language was not English, special education students and students who are considered poor or a minority. The law requires that each student in grades three through eight be tested on their reading and math skills. The institutions must then report the scores of the tests as well as the categories the students fit into (Ex. Non-English-speaking Hispanic immigrant male or French Caucasian immigrant female) and send them to the state. The state would then decide if the students are proficient in the subject (each state chooses what they think proficient is). None of the states achieved the goal of bringing all students up to the proficiency level in 2014. In 2015, the Every Student Succeeds Act was signed. ESSAs goal is to roll back the interference of the federal government in how states run their schools. So far ESSA has not reduced the number of tests, it has only allowed states to determine what they perceive as proficient (Klein). The effect on students and faculty mentally from standardized testing is all negative. Never can I personally remember looking forward to a test. In fact, it was quite the contrary. Even now in college, I do not look forward to taking tests. If anything, I may disl ike them more. The weight applied to tests in the grade book is absurd. If a student does not do well on one test, there may not be any recovery. Even if that student completes all other assignments and receives a 100% on all of them, they will never be able to obtain an A. Once a student learns of their test score, they can potentially fall to pieces metaphorically. All they brought was stress and anxiety. According to the Encyclopedia of Contemporary American Social Issues standardized testing contributes to unhealthy levels of student stress, resulting sometimes in serious mental health problems and even suicide, (1161). Furthermore, the encyclopedia states there is also concern that emphasizing performance on standardized tests (and even grades) diminishes students motivation to learn. Rather than focusing on the value of learning, educational contexts that emphasize outcomes focus students on getting the grade or test scoreâ⬠emphasizing what is required to do well on the test rather than focusing on genuine learning. Lifelong learning and critical thinking are not key educational outcomes when the focus is on tests scores, (1162). Learning from a test is virtually unheard-of. Standardized tests promote the idea that facts and concepts must be memorized rather than truly learned and be able to be applied. This is a reason standardized testing promotes anti-intellectualism in sc hools. Students in grades K-12 do too many standardized tests, it takes away from learning more valuable information in the classroom If we do so many standardized tests, they must work, right? I guess they do for the reasons they are meant for. On average a student in an American public school will take one hundred thirteen standardized tests in grades K-12. That is over eight tests a year. Testing time for juniors in high school is by far the largest. While preparing for tests and taking them only takes up 1.6 percent of instructional time in third through eighth-grade classrooms, students in the eleventh grade spend 15 percent (or around 27 days) preparing and taking standardized tests. Also keep in mind these numbers do not include time spent preparing for or taking Advanced Placement, career and technical or college entrance exams (Hefling). Students who are considered to be a minority have a bias against them when taking standardized tests. The principal example of testing bias I can think of is using the English language in reading and writing tests. If a student is new to a country, they may not know the dialect or more commonly the native language. The student may be a genius but cannot express their true spectrum of knowledge due to the language barrier. In Richard Lomaxs The Journal of Negro Education, in his conclusion he states Minority students in classes are receiving less quality instruction in these content areas (math and science) and more instruction to prepare for mandated tests that fail to meet recommended standards and that are driving instructional practices, particularly among teachers of minority students. Increasing the amount of and the stak es associated with testing does not bring about improvements in the delivery of instruction, (Lomax 183) According to Lomax, Maxwell West, Harmon, Viator, and Madaus standardized testing reduces time to focus on other subjects, they encourage the dismissal of material that students are not tested on and increase the time needed to teach students how to take the test (Lomax 171). A problem I had with standardized testing is that the majority of the content on the I had not learned yet. A specific example I have from the math portion of the ACT. On the test, I had to use the properties of logarithms to find a variable x. I did not know how to do it. I had never seen an equation that used log form before. I recognized the abbreviation log from being on my calculator, but that was the extent of my knowledge. Even though I spent about 27 days preparing for this specific test I still was not taught or introduced to all the concepts that would be on the test. Not being aware of what would be on the test, despite focusing on it for 27 days is not acceptable. How do test makers think they can determine the extent of a students knowledge when they have not been taught the concepts yet? This is just another flaw in the educational system. Testing if a student has the knowledge expected of someone their grade level and not teaching them what they need to know needs to end. If they are going to test students, they need to make them fairer. Their research concluded that standardized testing has critical flaws in the area of catering to diverse student needs. Through their research, they also found that classes with a higher average number of minority students did not do as well as classes with less diversity (Lomax 171). A classroom with the least amount of diversity is obviously going to do bette r on a test that is custom tailored to their culture versus a classroom full of students that have never taken a standardized test. In Minnesota, data recently taken from the Minnesota Comprehensive Assessments (MCA) shows that scores have remained flat. The Education Department of Minnesota stated that the state may never boost the academic performance of students of color without first addressing the outside factors that hold children back in school, to this Charlie Weaver of the Star Tribune says this is a cop-out and that their statement suggests that schools are powerless to educate students who are economically disadvantaged or who face other challenges outside of school and that these students cannot be helped, (Weaver). The education system is using minority students and the possibility of their sub-par home life as an excuse for why the tests statewide have remained stagnant. Not allowing students to express the true extent of their knowledge because they are considered a minority is a tool standardized tests use to encourage anti-intellectualism. Capitalism has no place in education. While schools need to compete with each other to become the best that they can to attract students and become perceived as the best school compared to the other competing schools like a business, they cannot be run like businesses. A business main goal is to make a profit, a schools main goal should be educating students to their fullest potential. Pearson Education is a British owned education publishing and assessment service that provides the majority of the tests children in the United States take K-12. They have over 40% of the testing market, which is over triple any other companies shares (Oliver). John Oliver takes a serious situation with how Pearson dominates the textbook and test writing distribution business and jokes about it saying a hypothetical girl could take Pearson tests from kindergarten through at least eighth grade, but a test by the way that she studied for using Pearson curriculum and textbooks taught to her by teachers who were certified by their own Pearson test. If at some point she was tested for a learning disability, like ADHD, thats also a Pearson test, and if she eventually got sick of Pearson and dropped out, well, shed have to take the GED which is now, guess what, a Pearson test, (Oliver). He also jokes that the only test that they will not have a hand in is the HPV test she will take in college, but they will get on that as soon as they see the episode, (Oliver). This just illustrates how insane it is to have one company control this amount of the education our children receive. Pearson is not a good company either, their record is full of complaints including technical glitches with their online tests and textbooks and slow grading of online tests and assignments. Even the content of their tests has accumulated pages of scrutiny. A specific example would be a question that was on elementary school test in New York a few years ago about a talking pineapple. Six question were determined to be invalid because they did not any sense to the test-takers. If there are mistakes in our standardized tests, they cannot be trusted to determine our knowledge. Large companies do not belong in education because too many mistakes can be made in the test making-process. We cannot trust the education of American students if the purpose of those companies is to make a profit. Standardized testing is an anti-intellectual activity. Authoring essays and doing research projects as a replacement would be infinitely more beneficial. At least during those assessments, the students can express their knowledge through their own words and thinking instead of having a 25% chance of getting a question right on a multiple-choice test. During the course of writing an essay, research much be done; research that may open new doors for students that they would never have thought of or had the change to explore yet. A research project has even more potential than an essay. During a research project can introduce new evidence and ideas to the world, that is what being intellectual is about. The students can hypothesis and gather information in order to prove or disprove their hypothesis. It stimulates the brain and broadens the mind. Reading essays and determining a grade for a research assignment may take more time but it is time well spent if it benefits the students.
Monday, December 23, 2019
Demonstrative Communication Essay - 925 Words
Demonstrative Communication XXXXXX XXXXXXX BCOM/275 January 16, 2013 Provide examples showing how demonstrative communication can be effective and ineffective, positive and negative, for the sender and receiver. Demonstrative Communication is the process of peopleââ¬â¢s thoughts and messages of communicating by actively listening in verbal and nonverbal communication. Depending on how a message is communicated, ââ¬Å"can be effective and ineffective, either positive or negativeâ⬠(Juancho24, 2012). Communication is used everywhere for instance all over the world. There are many forms of communication by applying communication process model for example; ââ¬Å"sender/receiver, encoding, decoding, message, channel, and feedbackâ⬠(Cheesbro,â⬠¦show more contentâ⬠¦First example, husbands and wives communicate with each other by observing each otherââ¬â¢s body language. This is a positive way of communication by effectively knowing each others thoughts. Second example, Children know as soon as their parents turn to look at them, th e meaning is to stop misbehaving and could mean they are in trouble. The second example used is both effective and ineffective. Third example, a smile or frown can interpret a person to be happy or angry. The person could also be interpreted as approachable or would rather be left alone. This is positively effective and negatively ineffective. Fourth example, an individual waving or a hand shake in America, can be interrupted as a friendly sign or a strong individual but can also be interrupted as insulting and rude in other countries. This example is both effective and ineffective with positive and negative communication. However, verbal communication consequently has similar negatively ineffective as positively effective. First example, the lack of listening leads to misconception and when listening carefully the outcome becomes essential to the receiver. Both examples are ineffective and effective. Second example, is the choice of vocabulary and taking into consideration who will be receiving the information. This is used by effectively positive. Third example, the lack ofShow MoreRelatedThe Effects of Demonstrative Communication792 Words à |à 4 Pagesworld today. The one way that I really want to look at is the demonstrative communication. This is one type of communication that we all do and have done, but I do not think that people realize just how many aspects there are to demonstrative communication. Demonstrative communication is nonverbal and unwritten communications that involve such aspects of facial expressions, tone of voice and body language. When you think of communication, you automatically think of someone having a verbal conversationRead MoreDemonstrative Communication Paper728 Words à |à 3 PagesDemonstrative Communication Paper BCOM/275 Demonstrative Communication Paper ââ¬Å"Demonstrative communication includes nonverbal and unwritten communication and involves such things as facial expressions, tone of voice, and body language.â⬠(University of Phoenix, 2011, Course Syllabus) Demonstrative communication supplements verbal communication in many ways. For example, when a salesman dresses smartly, and presents a friendly attitude he is saying Iââ¬â¢m trustworthy and am offering a great dealRead MoreDemonstrative Communication Paper889 Words à |à 4 PagesDemonstrative Communication Paper By: MaryLouise Maddox BCOM 275/ Robert J. Mascarenas University of Phoenix Demonstrative communication consists of accepting and sending messages that can be silent; this can help give attention for the start of verbal communication even though a non verbal communication can transmit the message all by itself. An example of this would be facial expressions, which can be used to express most non verbal communications. According to Nayab body language along withRead MoreDemonstrative Communication Essay937 Words à |à 4 Pages Demonstrative communication is an important means of transferring information from one person to another, or a group through a means that provides context, tone, and symbolism with brevity and conciseness. People are empathic creatures who communicate through many nonverbal means. Symbols, expressions, vocal intonations and gestures communicate information about the senderââ¬â¢s feelings and opinions on a level that ââ¬Å"fills in the gapsâ⬠of mere linguistic transmission. These ââ¬Å"gapsâ⬠in information areRead Mor eDemonstrative Communication Essay example725 Words à |à 3 PagesRunning Head: Demonstrative Communication Demonstrative Communication Paper Fabiola Nevarez BCOM/275 Demonstrative Communication Paper We all have different ways of expressing how what we are thinking and feeling while communicating with others. We communicate verbally and non-verbally, written or visual. Demonstrative communication is defined as the process of sending and receiving messages and involves, exchanging thoughts, messages or information. One of the most common ways to communicateRead MoreDemonstrative Communication Essay example846 Words à |à 4 PagesDemonstrative Communication Sharon Weissman BCOM/275 August 8, 2011 Shalonda Lee Demonstrative Communication is the process of sending and receiving messages. These messages exchange thoughts or information in a verbal or nonverbal, written or visual manner. Verbal communication consists of oral and written messages, where nonverbal communication consist of facial expressions, body posture, eye contact, and or hand gestures. ââ¬Å"Non verbal communication entails communicating by sendingRead MoreBcom 275 Demonstrative Communication Essay740 Words à |à 3 PagesDemonstrative Communication There are many levels and moving parts in communication. We rely on both verbal and non-verbal forms of communication in order to send, receive, translate and respond to each other (Cheesebro, Oââ¬â¢Connor, Rios, 2010). The spoken or written word only comprises of about 7% of our communication with each other. The other 93% is made up of voice quality and non-verbal communication (Heathfield, 2011). Non-verbal communication or demonstrative communication comes in manyRead MoreBcom 275 Demonstrative Communication Paper733 Words à |à 3 PagesDemonstrative Communication Paper BY: Erin Kelly BCOM 275 There are several things that can be said about nonverbal and unwritten communication. When you are talking to someone or someone is talking to you. You can tell a lot about how well the person is listening and understands what you are saying. You can also tell by their body language and facial expressions if they are interested in what you are saying. If you are talking to someone and they are not makingRead MoreOverview of Demonstrative Communication990 Words à |à 4 PagesIntroduction Demonstrative communication in basic terms includes both unwritten and nonverbal communication. This text concerns itself with demonstrative communication. In so doing, it will highlight such things as body language, voice tone, facial expressions, etc. Further, the paper will in addition to discussing the effectiveness of demonstrative communication also address how the same involves listening and responding. Communication: A Brief Overview Communication does not have an assignedRead MoreUnderstanding Demonstrative Communication1023 Words à |à 4 Pagesï » ¿ Demonstrative communication Communication is the process of sending and receiving messages involving the relay of thoughts, information, or messages. Communication can be undertaken through writing, signals, speech, or behavior. Demonstrative communication entails nonverbal communication that can be done using body posture, gestures, eye contact, or facial expression ADDIN EN.CITE Cheesebro T.2010410(Cheesebro T., OConnor L., Rios F., 2010)4104106Cheesebro T., OConnor L., Rios F., Communicating
Sunday, December 15, 2019
Advance Marketing FINAL Revision Free Essays
With the current high competition being witnessed in all industries, companies are increasingly being faced with new challenges to come up with new marketing strategies that can ensure that they retain or even increase their market share. To achieve this, companies can undertake market research which is a process that involves gathering of information, recording and analysing the data. This process involves gathering information concerning competitors and customers that exist in the market. We will write a custom essay sample on Advance Marketing FINAL Revision or any similar topic only for you Order Now Market research is very fundamental in monitoring the companiesââ¬â¢ sales and product performance. It also helps organisations get vital information that helps in expansion to new markets. This helps in determining or forecasting the customers that will purchase the product. This includes the customerââ¬â¢s income levels, their location and age among others Industry overview /Company This paper will examine the Audi Auto Company in UK; Audi Auto Company is an old auto company established way back in 1932, in Germany. The company has an emblem with four rings which is a symbol of amalgamation of four past independent auto companies that amalgamated in1932 to give way to Audi. These companies were, Audi, Horch, DKW and Wanderer. Today Audi Auto Company is a manufacturer of lovely cars which are sophisticated, beatifically machines that exemplify technological perfection. There are plenty of Audi car models some includes, 265PSS3 Quattro, the TT Coupe 2.0 TFSI S Tronic, the A4 2.0 TDI S saloon and many other models which are available on the market. (Audi Auto Company, 2007) Today, Audi Auto Company is an international motor company which its presence in several countries all over the world. It has established branches in many countries including the UK. The companyââ¬â¢s UK headquarters is in Yeomans drive, Blake lands, the company is a division of Volkswagen Group United Kingdom limited. Audi motto is ââ¬Å"Vorsprung durch Technikâ⬠which means technology progress. The company success in the auto industry has been based on the company core values of creativeness, enthusiasm and commitment towards its goals. The company also is customer oriented and it strives to incorporate the desires of its customers in everything it does.à Audi Auto Company endeavours to lead the way through continuous innovation and setting new standards that define auto industry technology. (Audi Auto Company, 2007) Project statement This research report critically examines and analysis marketing and its influences in contemporary business and with particular regard to Audi Auto Company based in the United Kingdom. This will entail thorough analysis of the marketing policies and strategies that have been adopted by the company, analyses the strengths, weaknesses, opportunities, and threats that Audi Auto Company undergoes in line with the ever increasing ambiguity and uncertainty that may come up due to effects of globalization and ever changing business environment. This study will also critically evaluate the effectiveness of this organisation response to competition and the gaps that exist in the marketing strategies of the company. This management report will further outline recommendations for new entrant in to the industry and what he should undertake in order to succeed in this ever very competitive industry. Pricing matrix; Pricing of a product is one of the marketing mix aspects and it is very important as it defines the worth of a product. Audi Auto Company has adopted various pricing matrix to achieve its objective of improving the company sales. Methods of pricing Premium pricing Premium pricing is the use of a high price which indicates uniqueness of the car manufactured and its magnificence.à This approach is applied when marketing luxurious cars from the company. (Cinchona, 2005) Penetration pricing The company takes up penetrating pricing when introducing it cars to new markets or countries. In this pricing strategy, the price for the cars can be set to be lower than what it is in other countries so as to gain a market share. It includes aà low price strategy enables a penetration price which is necessary to allow more cars to sell at first but when it catches up, other pricing strategies are adopted. (Cinchona, 2005) Economy pricing The company also offers it cars on economy pricing. In this case, the cost of marketing and manufacturing are kept at a minimum hence becomes a no frills low price for a product such as the cars from this company. (Cinchona, 2005) Other pricing methods are; price skimming, psychological pricing, product line pricing, optional product price, captive product pricing etc. The terms of access of Audi auto company products in the UK market pricing depends on factors such as the current tax rates in UK and the overall demand rate. (Cinchona, 2005) Distribution channel network; Distribution means a network for reaching out to companyââ¬â¢s customers. It is important for any company to create well distribution channels that will ensure that the customers are able to get the final product without a lot of hustle.à Audi Auto Company has an elaborate distribution channel of it vehicles that it manufactures in the UK. The company has dealership with various companies and dealers who market its products. The products are market all over the world; the company also have several manufacturing plants in other countries which manufacturers and markets the Audi cars in those countries. Audi Company also has Audi centres, authorized dealers and other group companies which are used as distribution channels. (Audi Auto Company, 2007) Sales network For any company to succeed in its marketing it must have a strong sales network which will ensure that the companyââ¬â¢s products reach the targeted market. A good sales network allows the company to be more effective and reach it customers with easy and on time. It also allows the company to respond to its customersââ¬â¢ demands and need more effectively as Dr Martin Wintrkorn chairman of the Board of the management of Audi AG underlines in his speech in the 2004. The company has a strong sales network in Britain that which has ensured the companyââ¬â¢s sales remains at the top. He further notes that due to this strong sales network, the company has managed to steady growth rate over 7% in UK. The sales network of the company includes company auto shop that are located in major town and places in the country, and mobile units that serve to deliver cars directly to the customer. Cycle life The company takes almost six months to be able to produce a new model on the market, the design department and the engineering departments are involved in creating new models. A new model is normal based on technology improvement in terms of safety, fuel efficiency. For example, in 1980 Audi manufactured a four wheel car named ââ¬Å"Quattroâ⬠which was turbocharged coupe. It took them six months to advance it from the first generation of S4 to the new generation of S6. General this period mat also vary according to the technological improvement that the company will undertake. Advertising practices Advertising is an important marketing tool which is commonly used to market new and existing products. Advertisement process requires huge investments. There are various forms of advertisements; media such as television, radio and newspapers, posters and road shows. The company utilizes all the forms mentions above, to improve its sales. Advertisement is important as it creates awareness of the companyââ¬â¢s products and well as keeping the customers informed. Advertisement is on form of market promotion that the company undertakes to promote its new model on the market. Promotion of new models can be carried out in different forms and the most common one is through product life cycle. (Michael, 1985) Audi has undertaken different promotional activities to ensure that its products are marketed to wide areas. The company has a sponsorship deal with Manchester United a foot club in UK as part of its promotion activities. Audi Company also is the official car dealer of the club, and some players like Wayne Rooney, Rio Ferninard and many more drive around in Audi cars. This highly markets the companyââ¬â¢s cars. Apart from football the company also is involved in various other sports, giving its support to motor sports and polo game. The company has continued to concentrate on the markets in the UK, as the chairman of Audi Auto Company in UK, Dr. Martin Winterkon pointed out UK market is the biggest for Audi outside Germany and Audi will continue to strive to improve its sales as shown in the last six years. (Audi Auto Company, 2007) The diagram below explains the cycle which products can behave in the global market when it is introduced to the market. It starts from the introduction, growth, maturity and finally the decline when the consumers are fully aware of the products and services and there is no need for further promotions. How to cite Advance Marketing FINAL Revision, Essays
Saturday, December 7, 2019
Review About Costing To Make Budgetary Control Effective
Question: Discuss about the Costing to Make Budgetary Control Effective? Answer: Ferguson Son Manufacturing Company is using Budgetary Control to control its costs and reduce inefficiencies. Under the current system, the different departments are given monthly budgets and the performance of the departments is compared with the budgets, and any variation is brought to the notice to the plant manager Mr. Robert Ferguson Jr. Moreover, the plant manager emphasises on making tight budgets so that costs can be reduced to the minimum level but this is posing problems to the machine department and the equipment maintenance departments. The supervisors of the departments feel that though they are working hard to meet the budgets, still their performance is far from satisfactory. This is happening due to the traditional costing system being used by the company currently. The costs are being assigned to the activities in the department by machine hours and labour hours in machine department and equipment maintenance department respectively. The factory overhead costs are b eing assigned to the units of products in each department by the number of machine hours being used by the activity multiplied by the overhead rate which is pre determined. The pre determined rate for machine shop would be calculated as total overhead cost divided by the total machine hours available. Currently, many special orders are being taken by the company and for each new order; the machine department needs to set up the machine and adjust it. This requires time and adds up the machine hours needed to produce the product, thus increasing the overhead costs for that product. In the process, the big orders which required lesser set up time are being ignored, and the overall costs for the machine department are increasing. Even though the big size orders will give higher profits but machine hours being wasted on small orders set up thus reducing the profitability and quality of machine department. Also the equipment maintenance department, to meet the budgets is running after th ose activities which require less of labour hours and not by the importance of the activity so that their overhead costs can be reduced. Hence, a machine breakdown in the machine department was not attended by the equipment maintenance department. Hence, the breakdown consumed more time than required and further increased costs for the machine department. Also, the overhead costs are not being assigned to the activities according to their usage of hours, for instance the equipment maintenance department has allocated the costs of supplies it has wasted to other work rather than on which the supplies were wasted. This is because the overhead rate is a common rate for all the activities in the department and hence, the some activities may be assigned higher costs and other low costs. As a result of the above problems, even though the machine department is working very hard, yet due to rush orders and inadequate help from supporting departments, it is not able to meet the budgets. As such, the employees who are working so hard and yet are not able to receive appreciation, their morale will go down, and they may even quit their jobs. Also, the efficiency and inefficiency of a department is not ascertained properly due to inefficient costs allocation. The budgets prepared for different departments should be interrelated and interdependent on each other. A master budget should be prepared and on that basis, the departmental budgets should be prepared. The department budgets should be reviewed in relation to other department budgets. Like due to the inefficiency of equipment maintaining department, the machine department could not solve its hydraulic pressure problem on time and as such had to delay its operations, so a control system which works in coordination with all related departments would give better results. System inefficiencies occur due to costs being allocated by labour and machine hours since big orders that require a lot of time to set up are being disrupted for small rush orders. Hence, the time taken to set again the big orders is adding to the costs of the order and affecting its profitability. To remove this inefficiency, the costs should be allocated to the products by the activities which add to the manufacturing costs and the products requiring more of the expensive activities should be charged more overhead costs than the ones requiring less of the expensive activities. On the face, the small rush orders look profitable but the loss incurred on big orders are more than the profits made by small orders. The company should focus more on products which give the maximum contribution to the company profits like the big orders in this case and according to such importance, the budgets should be allocated. In this case, higher budgets should be allocated for the big orders to the machine department, and all the departments should work in coordination to fulfil the bigger orders first and then the small orders. Like the equipment department gave more importance to the inspection of forklift trucks rather than solving the hydraulics pressure breakdown. This led to time loss for the machine department and hence they could not meet the budgets. Here, the equipment maintainenace department should have solved the machine problem first as the production was being hampered. The budgets should be designed in such a way that the important tasks are taken up first which contribute maximum to the companys profits. The budgetary system should also ensure that costs are assigned to the activities the activities to which it relates to and not any other activity. Activity Based Costing assigns overhead costs to the products in a more logical manner as compared to Traditional Costing. Under ABC, the costs are first assigned to the activities which are the real cause of the occurrence of the overhead. After that, it assigns the costs of those activities to the products or services according to their usage of the activity. Some of the common activities under a manufacturing sector include machine set ups, machine maintenance, quality check; special engineering, etc. the importance of ABC has increased due to an increase in the automation technology which has increased the manufacturing overhead costs. Moreover, some products are produced in large batches while the others in small batches, under such situation, ABC helps in logical allocation of resources. As a result of ABC costing, the management will be able to identify the activities which are resulting in higher costs like set up costs and identify products like small rush orders which are using the most of these activities. Such activities or products could be reviewed, and efforts should be taken to reduce the activity costs wherever possible. Rather than blaming the whole department for high costs, costly activities could be improved. Products which are using more of these expensive activities but contributing less to company revenues should be stopped producing, and those contributing more to the companys profits should be continued. Every company has short term and ling term goals to be achieved, and they make strategies to accomplish these goals. The strategies are executed by the employees of the firm and hence, it is necessary to clearly communicate these goals to the employees, and also the management should align the goals of the individual employees with the company goals. This can be done by employee engagement. While preparing budgets which will help in achieving company goals, the employees should also be referred so that they feel a sense of responsibility and set their goals accordingly. When all the employees are working towards the company goals together, the company is bound to successfully accomplish its goals. The sense of responsibility will increase the productivity of the employees as they feel motivated and increased profitability will lead to higher profits and lower costs for the organization, thus increasing the returns for shareholders. The different ways in which the budgets could be used to change employee behaviour and align goals in the organization include: Budgets to be prepared in consultation with the employees as they are the executors. Budgets clearly communicated to the employees Budgets should clearly state various tasks to be performed by the employees and the expected costs and profits from such tasks so that they know the value of each task and perform them accordingly. Return on Investment (ROI) is a measure of profitability which states whether the company is using its resources in an efficient manner to make profits. A company with higher ROI is better placed in the industry. ROI is calculated by dividing the net income by the average capital employed by the company. Activity Based Costing can be used to make strategic decisions and thus improve the profitability of the company. ABC helps in reviewing a process and thus provides scope for continuous improvement of the process which results in incremental cash flow. The processes or activities which are not yielding high benefits are removed or improved, as a result of which the cash which was tied up in the operations of those processes is freed and there is more of free cash flow. References Kaplan, R., Cooper, R. (1991), Profit Priorities from Activity- Based Costing, Harvard Business Review Cagwin, D., Bouwman, M., (2000), the Association between Activity Based Costing and Improvement in Financial Performance Turney, P.B., (1991), How Activity Based Costing Helps Reduce Costs, Journal of Cost Management, pg. No. 29-35 Swenson, D. 1995. The Benefits of Activity-Based Cost Management to the Manufacturing Industry. Journal of Management Accounting Research, pg. No.167-180. Roztocki, N., Schultz, S.M., (2003), Adoption and Implementation of Activity- Based Costing: A Web Based Survey, State University of New York at New Paltz School of business Joan, M., (2009), Traditional Versus Activity-Based Product Costing Methods: a field study in a Defense Electronics Manufacturing Company, Proceedings from ASBBS Annual Conference Sullivan, J., (2011), Increasing Employee Productivity: The Strategic Role that HR Essentially Ignores, accessed online on 7th Feb, 2016, available at https://www.eremedia.com/ere/increasing-employee-productivity-the-strategic-role-that-hr-essentially-ignores/ Newman, K.M, (2013), How to Align Employees with Your Companys Vision, accessed online on 7th Feb, 2016, available at, https://tech.co/how-to-align-employees-company-vision-2013-10 Mahal, I., Hossain, A., (2015), Activity Based Costing (ABC) An Effective Tool for Better Management, Research Journal of Finance and Accounting, Vol. 6, No.4
Friday, November 29, 2019
Integration Paper free essay sample
According to the Mines and Consciences Bureau (MGM), the country has an estimated $840 billion worth of untapped mineral resources with a span of 9 million hectares (a third of our country total land area) identified as having high mineral potential. This and other data from the MGM shows the high profitability of mining in the Philippines, which makes it attractive to foreign investors and transnational corporations. But, these mineral resources are found within our lands, as well as under our seas, both of which are also rich in other resources that sustain other economic activities around our archipelago.To add to this, the policies we have in place and endorsed by the government make it even more desirable. These policies make it easy and very profitable for transnational companies to pursue mining operations, and they are given a considerably favorable amount of control over the land their operations occupy. The mining stations that come to be in these specified areas have a tendency to invade the local communities lives in many debilitating ways, and often times many indigenous peoples are displaced from their own ancestral lands. We will write a custom essay sample on Integration Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This causes not just unrest within the community and within the area, but also negatively impacts the livelihoods, cultural practices and traditions, health, and identity of these locals. The mining situation in the Philippines has been a long debated topic, and for many good reasons. It is an industry that is pervasive in many ways, and it is an issue underplayed by many people; it is a much larger issue than it is made to look like. It is an industry considered to be destructive and unsustainable, and as it stands, it is just that.Different sectors in our society play a part in this issue, including economics, environment, coloratura, and political. All these systems are interrelated. Each cannot change without affecting or changing another. By carefully looking into this situations and analyzing the interrelation of the different factors, we will see that mining is more than just another industry and carries different effects and consequences on our country and people. Minerals are non-renewable resources, and this fact is telling of the limited lifespan of the mining industry.But, given the mineral wealth of our country, it can be considered a key in economic growth. The total contribution of mining to the national gross domestic product remains small, just ranging room 0. 6 to 1 percent. Contribution to exports hovers around 2 to 6 percent, as compared to agricultural contributions, which amounted to around 8 percent. Another claim mining companies have been making is their ability to generate jobs for the local communities and their contribution in further developing local industries.Statistically speaking though, the contribution of the mining sector to the national total employment consistently remains below 1 percent. As it is, extractive mining is a low-employment generating activity, as companies often invest high capital on machines and necessary cosmologies in their operations instead, minimizing the need for a large number of employees. Also, the available jobs offer no security and permanency, as again, mining operations have a limited lifespan, and more often than not, workers are hired on a contractual basis. Some people in these areas are left with no choice but to apply for jobs in these companies, as their own livelihoods have been disrupted by the mining operations. The environmental impacts of the mining industry are as numerous as it is devastating. Mining is deemed to cause several adverse effects on our environment, which lead to health risks, public hazards, and risks to the general safety of the public. In just the exploratory stage of the mining companies, lands and mountains are already subject to large-scale alterations.Forests are cut down for open pit mines; mountains are hollowed as tunnels are being dug underground. Polluted farmlands are left infertile and rivers are left dead, destroying livelihoods and the everyday lives of communities. Though there are claims of responsible mining and talks of limiting and controlling operations in order to minimize the impacts, the adverse impacts are still often irreversible. More than just affecting the landscape, the biodiversity of the affected areas are also critically affected.Flora and fauna are effectively displaced and perhaps even at risk for illnesses caused by pollution from the mines. The effects of these environmental changes are magnified when we consider the Philippine setting, as operations, which are often large-scale contrast the small areas they take over. Several areas of our country are also subject to natural disasters, and with the unwarranted changes in the natural landscape hat help communities and areas defend against them, there is a higher risk Of devastation on the environment and the people.Included here is the increased risk in high seismic areas. Once mountains have been hollowed to create tunnels, the surface slowly thins and weakens, and in cases of seismic activity in the area, these tunnels are prone to caving in, which entails that any structure found on the surface of those would be destroyed, again leading to furthe r risks for the communities still located in these areas. Mining operations also make use of different chemicals when extracting minerals, and this in turn produces toxic wastes or mine tailings. These mine tailings, in turn, affect the health of communities.Water sources become polluted, causing skin diseases and other illnesses in the communities affected. This affects the productivity of individuals, thus hindering them from pursuing their daily lives and economic activities. Here, the coloratura aspects of society also come to play. Most, if not all, of these foreign mining investors and transnational companies primarily pursue this industry for their own economic exploits. More often Han not, the locals or the indigenous people (IP) of the mining areas are neglected or manipulated.The IP, who have historically cultivated the area and utilized the lands for their own resources and cultural practices and livelihoods, are now the ones displaced and have become, technically, illegal lodgers in their own identified ancestral domains. Mining has been found to affect not only the Pips livelihoods, but also their cultural ties as a people, even leading to a loss of cultural identity (Waterier, 2012). Some of these Pips have also practiced small-scale mining in their culture, but now that large- call mining operations have taken over, they are disallowed from continuing their own operations.They are left to swarm over leftovers of the mining companies long after they have left the area, exhausting the mountains of their minerals. While companies claim to have given free, prior, and informed consent to the people affected, there have been reported cases of bribery and misinformation, as well as falsified documents claiming that entire communities have agreed and fully understood the undertakings of the industry entering their domain. All these issues can boil down to the political aspect of mining.Currently, the mining industry is being aggressively promoted, as compared to the past when it was merely tolerated. The government has made several measures and changes in mining policies in order to cater to the needs and demands of foreign mining investors and corporations. During the term of former Philippine President Fidel Ramose, the Philippine Mining Act of 1 995 was authored and promoted as a solution to poverty in the country, as well as a way to boost economic growth.Its aim was to bring to life the mining industry by providing additional benefits and incentives for foreign investors in order o entice them to mine in the Philippines. The contents of the Mining Act of 1 995 include opening all public and private lands to investors or individuals to all kinds of mining activities, not to mention ancestral lands (as long as free prior informed consent was obtained).Also include are the Exploratory permit which allows qualified mining applicants to explore lands open to mining. Next, Mineral Production Sharing Agreement (AMPS) which says the government takes part in the contractors production, being the mineral owner, and in exchange, the contractors provide the funds and machineries needed. Another is the Financial or Technical Assistance Agreemen t (FETA), which allows 100 percent ownership of mining areas to the foreign investors and corporations.Other than these, there are also the Auxiliary Mining Rights given to the corporations, which gives them timber rights (right to cut all trees or timber in the mining area), water rights (use of water resources available in the area), easement rights (right to build, construct or install anything in the mining area to benefit their operations), rights to possess explosives, and entry into private lands and concession areas (with prior notification of those involved, entry into private lands shall not be prohibited). These are rights that give them a huge amount Of liberty to do whatever so they please to further their mining operations, but at what cost? These policies are unfair ones, as they were formed and endorsed without proper consultation of everyone involved in this issue. There has been substantial bias towards the private entities involved, and thus the rights of the locals are ignored.The locals who try to approach the government for help or to be heard out are shunned, as even local government units and hose above them have been, perhaps, bribed by the foreign companies. There is a lack of accountability and responsibility by the government In facing this issue. These are policies that are focused on proportioning the needs and demands Of foreign investors and corporations over the needs and priorities of our countrys own people.These are policies and laws that hear what foreign investors have to say while turning away from the pleas of the people whose lives have been adversely affe cted by the mining industry. Flowery words are used in these policies, making them seem responsible and inconsiderate of the issues that come hand in hand with mining, but in truth they do nothing but cover up the true intentions of these policies, and that is to further the mining industry. There is so much more to be said about the mining situation in the Philippines and the many issues we face because of it.The economic, environmental, coloratura and political aspects of this issue are all interrelated and cannot change without changing another. The economic factors will always affect the environment, as our economy relies so much on resources that come from it, and these in turn will affect the coloratura specs of our society, as we the people are part of this environment and our lives cannot be without the resources we take from the environment.The political aspect affects the other three, in the sense that it is the policies and laws that we make that somehow dictate the outcome of our economy and how it is to adapt and take from our environment, and how society industries and livelihoods will move Fontana considering the rules that have been thus dictated. The coloratura aspect thus affects the rest in the sense that our culture and our identity dictate how we li ve and how we relate to those around us. We, as the people of this country, should remain aware of our responsibility as its caretaker.We are all equally responsible for taking care of each other and our nations wealth, which will be passed onto forthcoming generations. Mining, as it stands now, will continue to be a priority of the government and part of the country development policy, but we must not let that stop us from intervening, interrupting and voicing out our part in protecting the rights of those manipulated and abused by the unjust systems and policies that are pushed forward. Our countrys wealth can last so long, but only if it is retrofitted and taken care of. Integration Paper free essay sample I am a bio-chemistry major at Oakwood University. The profession that I want to pursue is to become is a medical doctor. A physician is a professional who practices medicine, which is concerned with promoting, maintaining or restoring human health through the study, diagnosis, and treatment of disease, injury, and other physical and mental impairments. They may focus their practice on certain disease categories, types of patients, and assume responsibility for the provision of continuing and comprehensive medical care to individuals, families, and communities. The type of Doctor I want to be is to do a MD/Ph. D in endocrinology. Whoever thinks that integration is only used in math is ignorant of their surroundings. The truth is that the different aspects of calculus are used in the real world every day. The Integral is used to show area under a curve. The indefinite integral is the anti-derivative of a function. We will write a custom essay sample on Integration Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In science and medicine there is a machine called the NMR and MRI. NMR stands for Nuclear Magnetic Resonance. In the field of medicine an NMR is better known as an MRI. The concept of using both machines it practically the same. Chemists use a machine called an NMR machine or a Nuclear Magnetic Resonance Machine. By looking at the graphs obtained from an NMR machine it can be used to identify the structure of unknown compounds. Integration is used when looking at the graph of a Hydrogen NMR spectrum to determine the relative amount of hydrogenââ¬â¢s are found in a compound. For example, in 1-1-2 tricholoro- ethane, the hydrogen on the first carbon is split by two hydrogens on the second carbon. This gives a ratio of 1:2:1. For these types of professions the integral is their Bible, metaphorically speaking. The watch the trends, convert the data into a quantitative function and then use the integral to predict the future of a company or simply use it with differentiation for an optimization problem. The purpose of the doctor is to determine the concentration of a medicine in a persons body over time, taking into account how much substance and how frequently it is taken and how fast it metabolizes. They use calculus to calculate the dosing of drugs dosage per weight, infusion rates, allowable blood loss, blood volume, bicarbonate deficit, cardiac output, mean arterial pressure, cerebral perfusion pressure, and much more. Works Cited. 1. What Is a Practical Application of Calculus in Medicine? WikiAnswers. Answers, n. d. Web. 01 May 2013. 2. Shell, D. M. (2010). Integration in NMR. Retrieved 2012, from Chemwiki: http://chemwiki. ucdavis. edu/Physical_Chemistry/Spectroscopy/Magnetic_Resonance/Integration_in_NMR 3. Differential Calculus in Life Science. (2003). Retrieved 2012, from http://math. msu. edu/Related/bio/calculus. html 4. Neuhauser, C. (2004). Calculus for Biology and Medicine, 2nd edition,. Pearson Education, Inc. 5.
Monday, November 25, 2019
Bronfenbrennerââ¬â¢s Ecological Theory Essay Example
Bronfenbrennerââ¬â¢s Ecological Theory Essay Example Bronfenbrennerââ¬â¢s Ecological Theory Paper Bronfenbrennerââ¬â¢s Ecological Theory Paper In developmental psychology, there are different theories on how an individual grows and develops. One well known theory is the Ecological Theory Development of Urie Bronfenbrenner. This theory emphasizes the importance of the relationship between an individual and the different environmental systems and how they can be related to each other. During early childhood, a personââ¬â¢s development is influenced by various factors such as the different types of the environment. Thus, Bronfenbrennerââ¬â¢s Ecological Theory shows how an individual grows and matures. It also explains each systemââ¬â¢s effect on a childââ¬â¢s development (Paquette Ryan, 2001). According to Bronfenbrenner, there are four different systems that influence an individual to develop as a person. First is the Microsystem which refers to the immediate environments such as family, classroom, friends, and neighborhoods. Second is the Mesosystem which pertains to childââ¬â¢s home and school. Third is called the Exosystem which the individualââ¬â¢s development is not directly involved in such as parentââ¬â¢s workplace. Last is the Macrosystem which points to a large cultural context such as Western and Asian cultures. These four different systems explain how a person changes and develops their personality traits in life (Paquette Ryan, 2001). In the first stage, when a child is born, he or she is taken care of by either the mother or a nanny. These individuals have a very big role in shaping the childââ¬â¢s characteristics. While there are studies which show that some personality traits can be actually inherited from both parents, the environment still has a big impact on developing a personââ¬â¢s characteristics. In the Microsystem environment, an infant usually spends the whole day with the family or the mother. Here, the characteristics of the child are already being developed. In the case of children whose parents are both working and the child is always accompanied by the nanny, there is a greater chance that the child will most likely acquire character traits of the nanny instead of the parents since they are always together and they spend the whole time together (Paquette Ryan, 2001). Neighbors and friends in school are also a big factor in the microsystem level. When the child starts to go to school, it would be a new environment for him or her to learn something and acquire new traits and characteristics from classmates and friends in school. As the child interacts with his or her classmates and gains new friends, there will be different influences from people around depending on how the child portrays him- or herself. Consequently, the child may develop a new personality trait that may be positive or negative. This continues as children grow old and mature (Paquette Ryan, 2001). Second is the mesosytem which is still related to microsystem. It is connected in a way that an individual is still significantly influenced by the microsystem, such as the parents who still influence their children even though the child goes to school already. A good example of this is a musically inclined child who has his or her talent developed through the teacher but at the same time, he or she may have acquired the talent biologically through the parents. Another example is when the parents are neglecting the child. In this case, it is likely that the child would be negatively affected and may not perform very well in school. Consequently, this can cause problems such as developing a negative attitude so he or she can be noticed and accepted by classmates or friends. On the other hand, when the parents always give positive regard to their child, he or she tends to develop a positive outlook in life. The exosystem is the third level, and this includes environment which the child or the person may not be directly involved in but may still leave an impact on his or her development. One good example of this as mentioned above is the workplace of the childââ¬â¢s parents. Although the child may not be exposed to the parentââ¬â¢s workplace, in some instances, it can still have an influence on the child. For instance, due to the exhausting demands of their job, some parents have no time to spend with their child. Their dissatisfaction towards their job may also negatively influence their desire to spend time with their children. Thus, the absence of parentââ¬â¢s assistance and support is likely to affect the childââ¬â¢s growth and development; it may cause the child to develop certain characteristics and traits that may be unpleasant, such as developing an anti social disorder or other behavioral problems (Paquette Ryan, 2001). The last system is called the macrosystem; it is a huge system that also has a significant impact on an individualââ¬â¢s growth and development. This is where the different cultures, religions, ideologies, and laws of the society take place. These factors have a great influence over the childââ¬â¢s developmental growth. In this system, both children and adults should already know their importance and goals in life. It is a stage where a person fully develops their individuality. For instance, a personââ¬â¢s religious beliefs may have a very big role in the development of an individual. There may be norms that are very different from another personââ¬â¢s standards, making things not work for different people. However, one should respect and understand the beliefs of others so that it will not create disputes with the different parties involved. Another example is oneââ¬â¢s belief in parenting: that it should be the parents who will take full responsibility of their own child. This belief will most likely provide resources to guide the parents in raising their children as for shaping them in a way that parents think is right and the best for them (Paquette Ryan, 2001). However, there is one recently added system to the four different systems of a childââ¬â¢s development which Bronfenbrenner named Chronosystem. This stage is where the early four levels can change and intertwine, from the microsytem up to macrosystem. It is where an individualââ¬â¢s development is influenced by physical changes of an individual. For example, when a person gets older, there will be physical changes in his or her body, making his or her weak and vulnerable to some illnesses. These changes affect the behavioral patterns of the individual that he or she may not have when he or she was still young (Paquette Ryan, 2001). In an individualââ¬â¢s life, the environment is the most important factor that shapes peopleââ¬â¢s character other than the biological aspect. Considering Bronfenbrennerââ¬â¢s ecological theory of development which shapes peopleââ¬â¢s identity, from the time that they were born up to the time they become adults and start to have a career and a family of their own, it will always be the environment affecting and guiding each and every individual in living their lives because it is where people grow, mature, and discover their selves. That is the reason why Bronfenbrenners ecological theory is divided into different stages. These stages help us fully understand how a personââ¬â¢s character is being shaped and develop. That is how important environment is in a personââ¬â¢s growth and development, as highlighted by Bronfenbrennerââ¬â¢s theory. There are several theories which explain that various biological and environmental factors contribute to the development of a child. Hence, understanding Bronfrenbrennerââ¬â¢s ecological theory of development will help us analyze and understand why people have their own personality and characteristics. It will also serve as a guide for understanding each and everyoneââ¬â¢s developmental cycle. It is through learning this theory that one can accept each character traits and behaviors. It is also a good factor for tracing problems, especially when it comes to behavioral issues of a person. As adults, it is our goal and responsibility to shape a childââ¬â¢s growth and development by becoming a good example to them. It is always the adults that children always look up to in their life. If we will all work on having good environment or surroundings in life, then we will have a respectable, successful, and almost perfect society. However, this will always be impossible, and there will always be deficits in life. Thus, the nature of our environment and its influence on people make life challenging, and it makes them learn, grow, develop and be successful in living their lives. References Ajuha, Yukti Bronfenbrennerââ¬â¢s ecological theory. Montessori Academy. Retrieved September 22, 2008 from mymontessoriacademy. com/newsletters/websitebronfenbrennerecologicaltheory. pdf Paquette, D. Ryan, J. (2001). Bronfenbrennerââ¬â¢s ecological systems theory. National Louis University. Retrieved September 22, 2008 from http://pt3. nl. edu/paquetteryanwebquest. pdf
Friday, November 22, 2019
Select one topic Essay Example | Topics and Well Written Essays - 2000 words
Select one topic - Essay Example Hence the term ââ¬Å"ethnicityâ⬠. This paper looks behind the deep issues involved in the rise of the term ââ¬Å"ethnicityâ⬠and why social scientists now prefer to use the term ââ¬Å"ethnicityâ⬠over ââ¬Å"raceâ⬠. Various data and irrefutable information will be presented coming from peer-reviewed journals, books, and appropriate websites in order to explain how the change from ââ¬Å"raceâ⬠to ââ¬Å"ethnicityâ⬠took place over the course of time. A look into the history of the study of human race and its evolution will show that the concept of ââ¬Å"raceâ⬠is something that can trace its early roots to the European slave trade. The concept itself is the result of a scientific revolution that emerged during the time of European imperialism and colonization. Due to the influence of people from various parts of the world upon European culture and social conduct, Europeans began to suspect that there were marked differences in the physical, social, and cultural awareness of human groups. It became their opinion that some human beings from particular parts of the world were of a higher physical, social, and cultural background than the rest. Therefore, a division between the people must exist. This division was meant to connote the higher group of people from those deemed more inferior. The term ââ¬Å"raceâ⬠was then coined in order to create a semblance of control over the African slaves using a type of mind conditio ning related to the term used to describe them or their ââ¬Å"raceâ⬠. With the widespread use of the term ââ¬Å"raceâ⬠across the globe, it became clear to social scientists that the term was used to define the real or imagined physical differences between people. The differences could be based upon visible and obvious differences such as skin color and physical appearance. Once a person is defined by his ââ¬Å"raceâ⬠, it then becomes his social identity which tends to influence social
Wednesday, November 20, 2019
Sounds of Silence by Simon and Garfunkel Essay Example | Topics and Well Written Essays - 750 words
Sounds of Silence by Simon and Garfunkel - Essay Example The genre was known by the name of folk/rock. Tom Wilson, while listening to the song ââ¬Å"Mr. Tambourine Manâ⬠flickered with the idea of making a folk/rock with Simon and Garfunkel with whom he had already worked successfully with their debutant album. Simon and Garfunkel the duo recorded the song for their first album ââ¬Å"Wednesday Morning, 3 A.M.â⬠in the year 1964. Latter on it was overdubbed with the inclusion of the instruments like electric bass, drums and electric guitar. As a single, the song was released in the month of September 1965 and the song was written by Paul Simon of the duo in the month of February 1964. The song ââ¬Å"Sounds of Silenceâ⬠is the most popular song released by the duo in the United States after their most well-liked hitâ⬠Bridge Over Troubled Waterâ⬠(Simons 1-120). During 1960s and 70s, many genres of music like rock, alternative rock, folk rock and country rock evolved which sung the saga of the men and time during which these songs evolved, The ââ¬ËNumero Unoââ¬â¢ or the number one track of the chartbuster during the year 1966 by Simon and Garfunkel also reiterates the social and political turmoil of the time (Charlesworth 1-125). THESIS STATEMENT The song, ââ¬Å"Sounds of Silenceâ⬠delineates many socio-cultural and socio-political issues within its melodious presentation. This essay intends to explore the subtle thematic paradigm imbibed behind the acoustic and electrified versions of this intense song. SOUNDS OF SILENCE: A REFLECTION Without getting much into the thin line of difference that separates the two genres of music during the sixties; the folk and the pop that strikingly evolves out through this song, it is quintessential to perceive the magic and enchantment the song delivers. The tempo, the rhythm, orchestration and above all the melody of the song is just splendid to fall back upon and listen to with close eyes. However, the most powerful aspect of the song is its lyrics. Poetry is inherent within a totalitarian scheme of things operating and pervading the song. From its rhetoric to words and intonation there is poetry imbibed within every layer and every aspect of the song (Technorati, Inc, ââ¬Å"Music Review: Simon & Garfunkel - Sounds Of Silence - Page 2â⬠) ââ¬Å"The Sounds of Silenceâ⬠: In restless dreams I walk alone Narrow streets of cobblestone, 'Neath the halo of a street lamp, I turned my collar to the cold and damp When my eyes were stabbed by the flash of a neon light That split the night And touched the sound of silenceâ⬠(SongMeanings, ââ¬Å"Simon and Garfunkel ââ¬â The Sound of Silenceâ⬠). No one can undermine the powerful use of language in the song. As a matter of fact, since the release of the song with more vigor and overwhelming confidence Paul Simon started writing songs which were definitely taking him to a higher echelon of poets. A rare master of storytelling and craftsmanship of imagery that Simon was, started lurking large in the song and the conversant style of the song made it more popular and relative: ââ¬Å"Hello darkness, my old friend, I've come to talk with you again, Because a vision softly creeping, Left its seeds while I was sleeping, And the vision that was planted in my brain Still remains Within the sound of silenceâ⬠(SongMeanings, ââ¬Å"Simon and Garfunkel ââ¬â The Sound of Silenceâ⬠). As the song was so popular and close to everyoneââ¬â¢s heart or to be precise it was deliberately made so much appealing because it tried to captivate the particular essence of socio-political catastrophe taking place at the political domain of America. The song ââ¬Å"The Sounds of Silenceâ⬠is particularly written after the assassination of John F. Kennedy and the social and political degradation of America as a nation and
Monday, November 18, 2019
America's Foreign Policies Essay Example | Topics and Well Written Essays - 500 words
America's Foreign Policies - Essay Example Both the army and navy were less than 30,000 troops separately, and being situated in the midst of weak or friendly nations, no thought was given to building up an armed force for any reason (Mintz). Americans also felt badly towards expanding any holdings abroad, as the popular sentiment was that it went against the democracy that the country held dear to its heart, even more than a hundred years after winning it (Mintz). That changed, however, when European powers towards the end of the century started acquiring overseas holdings themselves, eventually becoming rulers of a fifth of the world between 1870 and 1900 (Mintz). Fearing that the United States would one day be left with nothing but the country that it had already started, sentiment changed to allow overseas diplomacy and dealings, which were brought to the forefront by the foreign policies of President Theodore Roosevelt, President William Howard Taft, and President Woodrow Wilson. Though these three had sometimes radicall y different views on how to handle different situations with respect to countries around the world, it cannot be denied that all had a hand in shaping the United States as a world power by the early 1920s. Theodore Roosevelt came into the presidency believing, in a way, that America was not enough for America. He believed that the United States should expand its presence in foreign countries and territories, and had a strongly ââ¬Å"imperialistic philosophyâ⬠about where the nation stood, and should stand, in the world (ââ¬Å"American Experienceâ⬠). Despite being a diplomat who was more than capable of brokering any negotiation through words, Roosevelt believed that the nation should be ready to fight to protect its own interests above everyone else, and supported war in order to make his point to other countries about the greatness of America (ââ¬Å"American Experienceâ⬠). This can be seen in his main ambition while in office, which was to build a canal
Saturday, November 16, 2019
Risk Management in Business: A Case Study
Risk Management in Business: A Case Study INTRODUCTION SITUATION Every day, there is the chance that some sort of business interruption, crisis, disaster, or emergency will occur. Anything that prevents access to key processes and activities can be defined as a disaster. Companies can experience many different threats to their mission critical systems such as fires, floods, lightning storms and humidity to disgruntled employees, hackers, human error, power failures and viruses. A disaster can happen at any time and it is vital to be prepared in the event that one occurs. NEED To be prepared for a business interruption, the organization must have a carefully crafted and comprehensive plan that describes risks, impacts, and step-by-step recovery strategies for critical business processes in various disaster and emergency scenarios. Without a plan, the team will be flying blind when an interruption occurs. The plan provides the necessary tools to mitigate interruptions and resume operations as quickly as possible, greatly facilitating decision-making and taking action when there is scant time and stress levels are elevated. CHALLENGE Using the information in the risk assessment to create effective recovery strategies for critical processes in all departments, incorporating these strategies into a comprehensive business continuity plan, and encouraging ownership of the plan across the organization, and ultimately, achieving the highest resiliency possible with limited resources. SOLUTION Create the recovery strategies department-by-department, process-by-process. This allows each department to focus on strategies specifically relevant to their critical processes without extraneous information from other departments. Do the same for your business continuity plan, writing smaller plans by department. Also, use a template to document your recovery strategies to ensure process consistency across the organization. Finally, have plans reviewed and approved by department heads and distributed to all employees to encourage ownership and pride in the plan. RESULT Each department in the organization will have a comprehensive action plan for business continuity outlining the steps to take to recover vital processes in various emergency scenarios. All employees will have their own copy of the plan, ready to use immediately when a disruption occurs. Employees will take ownership of the organizations business continuity effort and this effort will be further ingrained in the organizations corporate culture. CHOCOLATE MANUFACTURING COMPANY AN OVERVIEW The Chocolate Company since inception in 1990 has been largely responsible for satisfying the countrys demand for Chocolates and Sugar Confectionery. Situated at Rusayl Industrial Estates in Muscat, Sultanate of Oman, the plant has various lines producing a wide range of confectionery like Ãâ°clairs, Toffees, Fudges, Caramels, Hard Boiled Candy and Enrobed Chocolates. These products are available in attractive packaging and premium Gift Boxes making them ideal for gifting as well as for own consumption. Most of the packaging in the Gift Pack segment has been carefully selected to ensure its enduring utility, thereby giving our valued customers an added benefit. The confectionery is produced by experienced personnel under stringent quality control and hygiene standards. State-of-the-art manufacturing facilities ensure products of international quality. The company in its relentless pursuit of quality obtained HACCP Certification in April, 2004. The Company, through its uncompromising stand on quality and competitive pricing, has successfully penetrated countries all over the Gulf, the African continent, Asia, Australia, New Zealand, Canada, South Africa, USA and the UK. The principal business processes involved are Procurement of raw materials and consumables. Production and Quality control. Distribution and marketing. Inventory Management. Pricing and cost control. Feedback from consumers and redressal systems. Publicity and promotional activities. Recruitment and HR. Finance Administration. Corporate communications and public relations. Legal and secretarial matters. Investor relations. Maintenance of equipment and other assets. Capital expenditure for equipment and other purposes. IT systems and telecommunications. Transportation and Logistics. Today, manufacturing sector companies like chocolate manufacturing operates in increasingly complex, competitive and global markets. The ability to manage risks across geographies, products, assets, customer segments and functional departments is of paramount importance. The inability to manage these risks can cause irreparable damages. Chocolate company will always face the likelihood of being impacted by uncertain or adverse future events. These uncertainties will have an impact on a companys ability to generate capital and shareholders returns. The company Board expects that management will not only look at where the company may be exposed to risk, but also how these risks can be managed to influence favorable business outcomes. RISK AND RISK MANAGEMENT Risk Management Methodology followed by the chocolate company The risk management methodology at the chocolate company encompass the scope of risks to be managed, the process/systems and procedures to manage risk and the roles and responsibilities of individuals involved in risk management. The framework is comprehensive enough to capture all risks that the company is exposed to and have flexibility to accommodate any change in business activities. The chocolate companys effective risk management methodology includes Risk Policy framework. Identification of risks. Measurement and Impact Assessment. Management of the risks. Monitoring Reporting and Control. A. Risk Policy Framework The following fundamental principles should be considered by the company to develop and implement a proactive risk management program and help them to identify any potential areas of concern: Acceptance of a risk management framework: A formal risk management framework is needed at this company, to guide the integration of risk management into the companys day to day operations. Corporate governance and risk: At this company,corporate governance is the prime responsibility of the Board of Directors and the General Manager. It combines legal duties with responsibilities to improve and monitor the performance of the company. Establish the risk response strategy: Following the agreement on the risk assessment rankings in all functional departments, management action will need to be taken to reduce the risk levels where they have been deemed unacceptably high or alternatively remove constraints where they are preventing the business from pursuing opportunities. Assigning responsibility for risk management change process: It is important for the company to ensure that the daily operation of the business supports this strategy and that the staff understands the proposed changes. Re-sourcing: Risk management is the responsibility of all levels of management. Communication and training: Implementing a communication and training program is important to introduce the concept of risk management. Monitoring of risk management process: To ensure that risk responses gaps are filled and that the risk responses continue to operate effectively and remain appropriate in light of changing conditions. B. Identification of Various Risks of The Company While drafting this Risk management Policy, the primary risk exposures at the company X that are identified is provided below, which are inclusive but not exhaustive and it will be the responsibility of the Risk Management Committee to review these on a periodic basis. I. Market Risks It is the risk that the value of the company will be adversely affected by movements in market rates or prices, foreign exchange rates, national global fluctuations, credit spreads and/or commodity prices resulting in a loss to earnings and capital. The market risks identified at this chocolate company are as follows Government Policy risks Product Risks Environmental risks Volatility of export orders Price Competition in the local export market Currency fluctuation for export orders II. Operational Risks The operational risks identified at chocolate company are as follows Fire Allied Risks Machinery breakdown/ obsolescence Volatility of Raw material Packing material prices Quality/ Ageing risks of Raw material/ Packing material Delivery risk of Suppliers Loss of data information- IT security Manpower Availability risks Accidents Inventory carrying risk III. Reputation Risks These are risks arising from negative public opinion resulting from failures of process, strategy or corporate governance. The Reputation risks identified at this company are as follows Contamination-hygiene Product expiry/Shelf life Corporate Governance IV. Credit Risks Non receipt of receivables or delay in receipts is the credit risks attributable to the company. These may be identified as Payment risk from customers-local Payment risk from Customers- export Security from customers Advance to Suppliers V. Liquidity Risks The possibility is that the company will be unable to fund present and future financial obligations. These may be identified as Cash flow working capital management CAPEX decisions Cost overruns VI. Strategic Risks Risk those are arising from adverse business decisions or the improper implementation of such decisions. These may be identified as follows Business Plan forecasts. Attrition of key people. C. Risk Prioritizing and Impact Assessment Risk Prioritizing To adequately capture institutions risk exposure, risk measurement should represent aggregate exposure of the company to both risk type and business line and encompass short run as well as long run impact on it. To the maximum possible extent the company should establish systems / models that quantify their risk profile. However, in some risk categories, quantification is quite difficult and complex. Wherever it is not possible to quantify risks, qualitative measures should be adopted to capture those risks. The company should utilize a Risk Matrix to evaluate the level of risks which are identified in the Company. The Risk Matrix is formed by assessing the probability of the risk, the severity of the risk, and the quality of control that exists specific to those risks. Scoring is attributed for each the three parameters namely probability, severity and Internal control. The aggregate score is computed and ranking of the risks is ascertained. The probability of the impact occurring is arranged ranging from low to high. Scores assigned as 4 for High, 2 for medium and 1 for low. Severity of the Risk is assessed as High, Medium and low based on the experience and normal prudence. Scores assigned as 4 for High, 2 for medium and 1 for low. Quality of Internal control is also similarly categorized as high, medium and low. The scores assigned in the reverse order since the better the existing control the lower is the impact and vice-versa. So scores here can be assigned as 4 for Low, 2 for Medium and 1 for High. Aggregate Score was thereafter computed after adding the individual scores for each parameter. Companys Risk Matrix using the above method is shown in Annexure I ii. Impact Assessment The company being a medium scale manufacturing unit should focus on the manageable risks like Operational risks, Liquidity risks and Strategic risks. Market risks, Credit risks and Reputation risks though an integral part of risk management may not need detailed impact assessment at this stage unless the probability of such factors seem to be out of proportions in time to come. Impact assessment of the Operational risks, liquidity risks and strategic risks at the company termed herein as Manageable risks, can be assessed as follows Risk associated with any event has two components, loss severity and loss probability. Loss, in itself consists of expected and unexpected components. The unexpected loss component could be severe or catastrophic. Usually, expected losses are adjusted for in pricing or in reserve allocation. Unexpected losses require capital allocation. Given that operational risk, liquidity and strategic risk events are most often subject to internal control, any manageable risk system that passively measures these risks would clearly be inadequate. Once risk factors are identified as likely causes of the Risk losses, mitigating steps need to be initiated. While quantification would indicate risk magnitude and capital charges, it may not by itself suggest mitigating steps. This makes it advisable for the company to combine qualitative and quantitative approaches to manageable Risk. The broad steps involved here would be: determine the types of operational losses that could occur identify the causal risk factors estimate the size and likelihood of losses Mitigate associated risks Qualitative Approaches Qualitative approaches involve Audits, Self-assessments Expert / collective judgment. Critical Self-Assessment: (CSA): This is one of the common qualitative bottom-up approaches where line managers of the company can critically analyze their business processes given specific scenarios to identify potential risks and gaps in their risk management processes. Tools like questionnaires, checklists and workshops are used to help the managers analyze the risk profile of their business units. The key idea behind this method is that businesses managers of this company are in the best position identify and manage the Operational Risks pertaining to their business units. Risk Audit Employing the services of external (or internal) auditors to review the business processes of a business unit is another approach. This process not only helps identify risks but also helps put in place the oversight organization for the manageable risks. Key Risk Indicators (KRI) Using the KRI approach the company can blend the qualitative and quantitative aspects of Operational Risk management. Factors that have predictive value and that can be easily measured with minimum time lag can serve as risk indicators. Some risk indicators inherently carry risk related information, for instance, indicators like sales volumes, order size, etc. Others are indirect indicators, for instance, production budgets, production lifecycle, performance appraisal etc. Key indicators are identified from several potential factors and are tracked over time. The predictive capabilities of the indicators are tested through regression analysis on historical loss data and indicator measurements. Based on such analysis, the set of indicators of the company being tracked can be modified suitably. Over time, as the model gets refined, the set of indicators can provide early warning signals for operational losses. D. Management of the risks Managing Market Risks: The chocolate company may be exposed to Market Risk in variety of ways as described earlier such as environmental issues, export orders, future contracts, Price competition, customer profile and marine transportation risks. Besides, market risk may also arise from activities categorized as off-balance sheet item. Government Policy Risks: Change in government policies, tax rates, introduction of new tax regimes, reduction or abolition of incentives etc carry risk to any entity in terms of its costing and pricing. In the short and medium term the company does not perceive any major risk in this segment, however the management has to be aware of any forthcoming changes that the government might envisage. Should there be any drastic change in Government policies that would affect its profitability especially in case of exports; the Company has contingency plans for producing at an alternative location outside Oman. Product Risks: Since the product is that of food item the company has to be 100% careful to maintain the product quality, product specification, pack sizes, contents in each pack etc. Producing lesser or poor quality products and not as per specification is a risk which company X needs to constantly be aware off. To mitigate such risks the company X should develop a well defined production policy develop a well defined Quality control and checks policy develop a well defined storage and Distribution policy Environmental risks: The company does not use and generate hazardous substances in its manufacturing operations. Hence the chances that the company may in future are subject to liabilities relating to the investigation and clean-up of contaminated areas is negligible. However the company should have a laid down policy of disposal of waste at pre-designed disposal points mainly for the rejected, expired and damaged items of raw materials, finished products and packing materials. Volatility of export orders: Some customers and sectors served by the company are directly dependent on general economic development, competition and frequent fluctuations in demand for their products. The prices for these products are, in part, dependent on the prevailing relationship between supply and demand. Possible price fluctuations are therefore apt to have a direct influence on each customers working capital management decisions, with subsequent influence on the customers Order Intake. This may lead to volatility in the development of Order Intake of the company. The company has a policy of geographically diversifying its customer base, as also expanding the customer base in each export market, so that transfer to less volatile locations can be made in short notice. Price Competition in the local export market: The Company does business in very competitive local and export markets. In spite of the competition the company has a 70% market share in the local market and its export business is expanding.Both these local and export markets in which it competes are highly fragmented, with a few large, international manufacturers competing against each other and against a high number of smaller, local companies. Sometimes new entrants or existing players suddenly lower their prices to get rid of the companys products. This has, in some cases, adversely impacted sales margins realized by certain of companys products. To mitigate this risk the company has taken the following steps: Maintaining complete information of its Competitors with respect to their latest technological developments, market strategies, new investments, management changes etc. Has developed emergency alternative plans to introduce different product ranges with minimal structural changes with similar or lower prices. Currency fluctuation for export orders:The Company exports its products to a large number of countries like Canada, USA, Australia, African countries, and the Middle East. Almost all export orders of the company are fixed in US dollars. Since Omani Rail is pegged with US Dollars, the fluctuation of the currencies in would have negligible impact on the export realizations at company X. Company X has a policy of booking export orders in terms of US dollars to avoid the risk of currency fluctuations. Managing Operational Risks: Being a chocolate manufacturing company, it deals with the retail market. The most important risks are those of Operational risks. Operational risk is associated with human error, system failures and inadequate procedures and controls. It is the risk of loss arising from the potential that inadequate information system; technology failures, breaches in internal controls, fraud, unforeseen catastrophes, or other operational problems may result in unexpected losses or reputation problems. Fire Allied risks: These are general risks applicable to almost all establishments. This includes Material damage to the companys property due to Fire lightning, Earthquake, Third party impact, Accidental damage, explosion, riot strike, storm tempest, burst pipes, Own Vehicle impact, malicious damage, and theft. The company should take necessary steps in mitigating such risks by taking ââ¬Å"Property All Risks Insurance Policyâ⬠ââ¬Å"Loss of profit insurance coverâ⬠Machinery breakdown/ obsolescence: This risk identified is a major risk element as the company has been established two decades earlier by using imported refurbished Plant and machinery. Though most of the machinery is in running condition as of now the chances of spare part obsolescence is quite high in a majority of such machines. The physical status and the possible mitigation for major machinery can be shown in ANNEXTURE II Volatility of Raw Material/ Packing Material prices: The Company faces a medium level risk in its Raw material Packing material prices. The main raw materials at are Sugar, Glucose, Milk Powder, vegetable fat, coconut, coco whey powders. The packing material required is Wrappers, Bags, Gift boxes, Gift Tins and cartoons. Other than a few packing materials almost all of the raw materials and packing materials are imported as shown below Quality risk Raw material Packing material: This is a medium sized risk and the company should take reasonable care to mitigate such risks. Since the majority of the raw materials and packing materials are imported by the company, the purchase committee should implementing a stringent policy of Should have a multiple suppliers from the same country or region. Should have proper Quality checks for each Consignment while receiving delivery. Should have a stringent penalty clause on variation of specifications in the agreements with suppliers. Delivery risk of Suppliers: This is major risk element at the company because of the fact that in most cases purchases are imported and made through Letter of Credits. Non Delivery or delayed delivery in such purchases may affect the performance of the company. The company is implementing proper penalty clauses in the purchase agreement for delayed and/ or non-delivery of the ordered items. Transporting risks: In case of local sales, the company transports the products mostly through its own personnel. The company therefore, takes a general Transit Insurance policy covering accidents and theft. Inventory carrying risk: Inventory Carrying risks are of three types: Storage risk Overstocking under stocking risk Expiry risk Storage risk The storage policies currently are The company can keeps the entire inventory in closed warehouses. Over-stocking Under-stocking: The company can maintain a good optimized production planning system in correlation with its sales plan so that it can have a optimum stocking policy. The current production plan is quite satisfactory and hence the risk is low to medium. But the company is mostly dependent on Export market, the volatility of export orders may lead to overstocking or under-stocking of inventory. Expiry risks: This risk is low to medium. Expiry risks of inventory can be mitigated by proper planning of Sales, Purchase, Production and Distribution. The Storekeeper needs to maintain up-to-date records. A system is being implemented to provide on-line information about the stock position i.e. the quantity in stock, Re-order period, Ordering level and the Expiry dates of each of the Raw material, packing material and finished stocks to the Sales, Production and Purchase department so that immediate action can be taken by the respective departments. Manpower Availability risks: There is a shortage of skilled manpower in Oman. This is however met with the expatriate staff employed mainly from the sub-continent. The company therefore faces a medium risk in terms of availability of skilled manpower. The company can met unskilled manpower availability with the local Omani population and also from expatriate staff. The gap of skilled labor availability is likely to increase and therefore the costs also increase. To mitigate such risks, the company can develop long term strategy to invest in higher capacity production machines so that the requirement of manpower is kept low. Accidents: The Company can face a chance of accidents at the factory, however the accident risks at the company is low, as it does not deal with hazardous material and the production processes are not complex. However the company may face risks from mechanical or electrical installations which cant be entirely ruled out. So the company needs to take the following steps: By providing ELCB (Electric Leakage Circuit Breakers) in all electrical circuits and ACBs for the main transformers By providing Hot masks to the manpower Having a good machinery breakdown policy Constant monitoring of the gas line leakages The company needs have a Manpower Accidents and Injury Policy to cover the possibility of injury or death of manpower within the factory premises. Managing Reputation Risks Reputation of the company may also get hamper in various situations some of which are Contamination-hygiene: Being in the Food sector the company should take utmost precaution to avoid any sort of contamination in its products which will reach to the general mass. The company should take precaution for the quality of the raw material and packing material that is required for the entire production process and the stocking procedure. The company can follow the following policy: Stringent Quality control checks of Raw materials and packing materials Stringent Quality checks of the entire production process Maintaining Hygiene standards of the Government of Oman both in production and stocking. Sample testing at each stage Have a third Party damage policy insurance coverage owing to contamination Product expiry/Shelf life risks: This is again a very vital risk to the company as it is in the Food sector. The Government of Oman is very stringent in its laws to avoid expired products to be sold to the general public. So the company should take utmost care to avoid this risk by providing a stringent Distribution policy of its finished products Checks and controls before distribution of products. Monitoring distributed products on a daily basis Attributing Responsibility to a Senior Personnel for the management Corporate Governance: Corporate Governance Policies and Procedures manual are already in place at the company. Hence the risk associated with it is low. The management has to ensure proper compliance of the policies already undertaken to avoid any risk of reputation arising out of non-compliance of corporate governance. Managing Credit Risks: Credibility Risk of Customers: The Company should develop a credit policy based on regions, volume and credibility ranking of the parties. Export: The Company exports to a wide range of countries. The contacts of customers are mainly through visits and through mail. It is initially very difficult to assess the credibility of the customers abroad. The risk element is therefore medium and high. The company should mitigate this risk in the following manner: The company should back up the export orders by Letter of Credit from the parties. In case L/C mode is not practicable, the company can ask for advance payments or Security deposit, or post dated cheques which will cover the entire order taken prior to effecting delivery of the goods. The company currently did not enter into any distribution agreement with any export party and deals with parties on a case to case basis The Company can set up a network of distributors for handling exports sales as far as practicable. The company can also set up more than one distributor; in each region/country, so that price advantage can be achieved through minimal risk. The company should select distributors with proven track record, and the distributorship agreement should be through a internationally binding legal contract. Local: Local sales are affected by the company mainly to retail customers like supermarkets and hypermarkets, small shops and to two distributors in the interior. The company should take the following steps: Sale to all hypermarkets and supermarkets where the volumes are above a certain limit are, as far as possible, affected by means of an annual contract with all modalities and terms and conditions clearly laid out. For single shop outlets, the company may face the risk of shop closing down and non-payment or delayed payment. To counter this company should maintain small stocks with such shops and should have a regular but frequent collection system. In case of distributors the company should have legally binding distribution agreements. Limit setting: An important element of credit risk management is to establish exposure limits for each single customer and distributors. The compan
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