Cash Management Paper

Cash Management Paper Free Online Research Papers Cash Management Paper Cash is the lifeblood of companies. Cash provides the liquidity needed to meet everyday obligations owed to suppliers and creditors and the flexibility to take advantage of new opportunities that may arise. Managing cash is a delicate issue for many firms. For businesses cash is the key to daily operations, but cash is a non-earning asset. Dollars tied up in cash could be earning higher rates of return if invested in other areas. Large corporations spend considerable time and resources in cash management; dollars are transferred back and forth between marketable securities and cash accounts that earn a higher rate of return. Negotiated credit lines serve to supplement depleted cash during periods of shortage. Short-term financing is a portal that allows firms to operate with a low cash balance. The first part of this paper will explain the various cash management techniques. The second half of the paper will address the types of short-term financing a financial manager of a firm has to choose from. Cash Management Techniques While private citizens are often taught conservative cash management practices, most companies do not want to keep any more cash on hand than absolutely necessary. Companies must keep some cash for transactions, bank payments, and potential emergencies; although, the opportunity cost of holding an excess of cash rather than reinvesting it into current assets or growing the firms fixed assets is often significant. Multiple techniques can be used by a firm to manage its cash. These techniques are broken down into three separate categories: collections and disbursements, management of accounts receivable, and inventory management. Collections and Disbursements Float is the difference between the firm’s recorded amount and the amount credited to the firm by the bank. This is the result of a time delays in mailing, processing, and clearing checks through the bank (Block Hirt, 2004). Companies can use this to their advantage. If $500 in checks was written to suppliers and $800 was deposited in checks received by the company, possibly only $300 of the checks written by the company had cleared and $700 of the received checks had cleared. This would give the firm an extra $300 in available short term funds. A company can manage their cash by improving collections by using collection centers or lockbox systems. Collection centers help companies process checks quicker. Lockboxes process checks quickly and at a lower cost. The slowing of disbursements is not uncommon in cash management (Block Hirt, 2004). Banks assist firms in controlling disbursements. This allows the firm to time their payments so that they hold their cash as long as possible. The costs of a comprehensive cash management program can be substantial. The use of disbursement centers and remote collection can be expensive; along with the banks that may charge a fee or require the maintenance of adequate deposit balances. The use of a lockbox system may bring costs down, but overall the costs are significant. The firm needs to run a cost-benefit analysis to compare the expenses of the cash management program to the benefits that will be accrued by having a comprehensive program. Electronic funds transfer is the process of moving funds from one computer terminal to another without the use of a check. The techniques used to delay payments and floats are being reduced due to technology and the technique of electronic funds transfer (Block Hirt, 2004). Automated clearing houses (ACH) transfer information between one financial institution to another, and from account to account via computer. Direct deposit of checks is one of the most popular uses of ACHs. As stated by Block Hirt (2004), â€Å" It is estimated by Elliot C. McEntee, president and CEO of NACHA, that Americans save more that $1 billion in postage costs and late fees in 2003 by using direct payments, while companies and government agencies saved billions of dollars† (p. 182). Corporations that do business in many nations can shift money from country to country. Interest rates are different in all countries; therefore, a company may prefer to take advantage of high interest rates available in a particular country. Financial institutions and businesses can now make multicurrency payments via computer. According to Investopedia (2009), â€Å"Marketable Securities are very liquid securities that can be converted into cash quickly at a reasonable price. Marketable securities are very liquid as they tend to have maturities of less than one year. Furthermore, the rate at which these securities can be bought or sold has little effect on their prices† (Marketable Securities,  ¶ 1). Marketable securities consist of: treasury bills, treasury notes, treasury inflation protection securities, federal agency securities, certificate of deposit, commercial paper, banker’s acceptance, Eurodollar certificate of deposit, passbook savings account, and money market accounts. Firms will maintain levels of marketable securities to ensure that they are able to replenish cash balances quickly and to obtain higher returns than is possible by maintaining cash. Companies will hold securities with very little risk for their immediate cash needs. Highly liquid debt instruments such as commercial paper (short-term marketable promissory notes issued by financial institutions and other corporations), bankers acceptances (drafts issued and accepted by banks often used in international trade) and various government securities such as Treasury Bills and agency notes are frequently maintained in marketable security accounts. Other highly liquid instruments such as money market funds and certificates of deposit, are also maintained as marketable securities Management of Accounts Receivable Firms maintain accounts receivables to stimulate sales. Many clients prefer to make purchases on credit. A liberal accounts receivable policy tends to result in increased sales levels. That is, firms may stimulate their sales levels by relaxing their terms of credit. However, maintenance of accounts receivable represents an opportunity cost to the firm in terms of forgone returns on other assets. Furthermore, accounts receivable represent potential bad debt losses to the firm. The firm must find the appropriate balance of these costs relative to the benefits associated with accounts receivable. This appropriate or optimal balance occurs when the marginal costs of credit policy exactly offset its marginal benefits. Many firms will establish a credit period for their customers but will offer discounts to encourage them to pay early. For example, the terms 2/10, net 30 state that the bill is due in full within 30 days but the customer is offered a 2% discount if it pays within 10 days. Longer credit periods or more liberal credit terms are likely to stimulate sales, but at the same time, the firm forgoes the use of its money for a greater length of time and increases the potential for bad debt losses. Increasing the percentage discount will help speed the collection process, but at the expense of total cash flows from sales. Many firms will ease credit terms for products that take longer to sell. Such low turnover goods are more likely to be tied up longer as inventory; using liberal credit terms to defer cash receipts from their sale is less costly if the alternative is higher inventory levels. Similarly, more competitive markets for the firm’s products may also encourage more liberal cre dit terms since such terms may enhance the firm’s ability to compete. Before extending credit, the firm will probably wish to investigate the credit-worthiness of the customer. This investigation may simply focus on the firm’s customer’s credit history with the firm or may include contacting various credit reporting agencies (such as Dun and Bradstreet), checking with the customers bank and other suppliers of credit and examining the customer’s financial statements and operations. The financial statement analysis will probably require the use of financial ratios, particularly those reflecting the firms liquidity position. Inventory Management Inventory falls into three categories raw material, work in progress, and finished goods. According to Block Hirt (2004), â€Å"All of these forms need to be financed and their efficient management can increase a firm’s profitability† (p.194). The firm needs to decide if they are going to follow a level or seasonal production plan. It also must take into account inflation and deflation. It must hedge by using a futures contract to sell at a certain price in the near future. The firm must develop an inventory model. It can do this by first assessing various costs, including those resulting from ordering inventories and those associated with carrying inventory. Order costs will include all expenses resulting from obtaining inventory such as administrative ordering costs incurred by the firm, fees to agents, and in some cases, shipping costs. Inventory carry costs will include storage expenses such as warehouse heating and lighting costs. With this information the firm c an then determine the economic ordering quantity (EOQ). This is the most advantageous amount for the firm to order each time. The equation is: . S = Total Sales in units, O = Ordering cost for each order, C = Carrying cost per unit in dollars. If an entity runs out stock it could lose sales to a competitor. This may cause a firm to hold what is called safety stock. Even though the company will determine the optimum order quantity, they cannot predict the delivery schedules for suppliers or the fact that there will be stock to purchase when the old inventory reaches zero. This safety stock will help reduce these risks. â€Å"The amount of safety stock that a firm carries is likely to be influenced by the predictability of inventory usage and the time period necessary to fill inventory orders† (Block Hirt, 2004, p. 199). Just-in-time inventory (JIT) is a way to keep inventory costs down. This concept started in Japan with Toyota. Three components must be present: quality production with customer satisfaction; close ties between suppliers, manufacturers, and customers; and, low inventory. The benefits of JIT include cost savings from lower levels of inventory and reduced financing costs. Methods of Short-Term Financing Short-term financing opportunities are available in a variety of ways to companies. Most of short-term transactions covered by financing are for periods of 180 days or less. Short-term financing is required when the need to increase inventory is present. Inventory is then converted to sales. When extended payment terms are given to these sales, accounts receivable are created. Inventory and accounts receivable are short-term and provide a collateral base for a lender to provide financing. A company may need financing when the inventory and accounts receivable grow at a fast pace as a result of continually increasing sales; this creates the need for funds to support the increase in the accounts that are growing at a faster rate than the accounts receivables can be converted to cash. The many different types of short-term financing will be explored throughout the rest of the paper. Trade Credit According to Block Hirt (2004), â€Å"The largest provider of short-term credit is usually at the firm’s doorstep – the manufacturer or seller of goods and services (p. 211). A firm will use its accounts payable to fund future operations, this is called trade credit. The usual payment period for trade credit is 30 to 60 days. Many companies allow a cash discount to encourage early payment. A 2/10, net 30 cash discount means 2% will be deducted from the price if the payment is remitted in 10 days. Failure to do so will result in the full amount being due in 30 days. Bank Credit â€Å"Banks can provide financing for seasonal needs, product line expansion, and long-term growth† (Block Hirt, 2004, p. 212). Because of bank deregulation an entity now has access to many different kinds of banks that can be used for short-term financing; commercial banks, savings and loans, credit unions, brokerage houses, and new companies offering financial services are just a few options that firms can choose from. When using a bank for short term financing prime rates need to be considered. The higher the customer’s credit risk, the higher of an interest rate will be charged by the bank. Since London is the center of the Eurodollar deposits, United States businesses can borrow from London banks quite easily. The London Interbank Offered Rate (LIBOR) is usually lower than the prime rate in the U.S.; therefore, companies can borrow from the London banks at a lower interest rate than they would get in the U.S. Many banks require a compensating balance when money is borrowed. This must be looked at closely by the financial manager. This requires the company to borrow more than is needed because a portion of the loan will be kept in an account with the bank. When a company takes a term loan or secures a loan with interest and a compensating balance a cost-benefit analysis needs to be done by the financial manager. The cost for borrowing money these ways can be high. The amount of money the company might expend on securing short-term financing through a bank might not be a financially smart decision. Commercial Paper A short-term promissory note issued to the public in minimum units of $25,000 is called commercial paper (Block Hirt, 2004). Commercial paper is broken down into two categories: finance paper and dealer paper. Finance paper is sold directly from the finance company to the lender. Dealer paper is sold by small companies such as utility firms, industrial companies, and financial firms. The commercial paper is then distributed by intermediate dealers for the small companies. Financial managers like using commercial paper for their short-term financing needs because they have no compensating balances and the charged interest rates are usually below the prime interest rate. According to Block Hirt (2004), â€Å"Although the funds provides through the issuance of commercial paper are cheaper than bank loans, they are also less predictable† (p. 221). Accounts Receivable Financing If a borrower’s credit rating is too low or its need for funds too large, the lending institution might require that certain assets be used as collateral. Accounts receivable financing is a way for the company to get the funding. A company can either pledge the accounts receivable or factor them. Pledging accounts receivables means the financing company will lend 60% 90% of the value of the acceptable collateral. If the borrower defaults on the loan the lender will have full recourse against borrower. Interest rates are generally well above prime for this type of loan. Factoring the accounts receivables means that the company sold those accounts directly to the lender. The customer’s will now make their payments directly to the lending company. The borrowing firm will pay the factoring firm a commission fee as well a lending rate for assuming the risk of the accounts receivable. Inventory Financing Entities may also borrow against their inventory to gain funds. According to Block Hirt (2004), â€Å"The extent to which inventory financing may be employed is based on the marketability of the pledged goods, their associated price stability, and the perishability of the productâ€Å"(p. 226). Borrowing against inventory can be done three ways: blanket inventory liens, trust receipts, and warehousing. Blanket inventory liens are the simplest way to borrow against the inventory. There is no physical transfer of the merchandise. The lending company has a general claim against the inventory. Trust receipts are instruments acknowledging that the borrower holds the inventory and proceeds from the sales in trust for the lender (Bloch Hirt, 2004). Each piece of inventory is marked with a serial number; when it is sold, the proceeds are given to the lender and the trust receipt is destroyed. This gives more control to the lender than blanket inventory does but the borrower still has physical control of the inventory. Warehousing is when the inventory is physically stored in a warehouse under the direction of a third party warehousing company. The goods can only be moved with the lender’s approval. If the inventory is stored in the third party warehousing company’s warehouse it is called public warehousing. Field warehousing is when the inventory is kept in the borrower’s warehouse but is controlled by a third party warehousing company. Conclusion Cash flow management is absolutely critical to the financial survival of a firm. A shortage of cash may result in a firm that shows a profit on its income statement but is bankrupted by being unable to meet its financial obligations. Cash management is a broad term that refers to the collection, concentration, and disbursement of cash. It encompasses a companys level of liquidity, its management of cash balance, and its short-term investment strategies. In some ways, managing cash flow is the most important job of business managers. If at any time a company fails to pay an obligation when it is due because of the lack of cash, the company is insolvent. According to Answers.com (2009), â€Å"Insolvency is the primary reason firms go bankrupt† (Cash Management,  ¶ 3). Obviously, the possibility of such a consequence should encourage companies to manage their cash with care. Moreover, efficient cash management means more than just preventing bankruptcy; it improves the profita bility and reduces the risk to which the firm is exposed. References Answers.com. (2009). Cash Management. Retrieved July 11, 2009, from answers.com/topic/cash-management Block, S., B., Hirt, G., A. (2004). Foundations of Financial Management, 11/e. Retrieved June 1, 2009, from University of Phoenix eBook Collection on the World Wide Web: apollolibrary.com. Investopedia. (2009). Marketable Securities. Retrieved July 11, 2009, from investopedia.com/terms/m/marketablesecurities.asph-management Research Papers on Cash Management PaperIncorporating Risk and Uncertainty Factor in CapitalThe Project Managment Office SystemOpen Architechture a white paperNever Been Kicked Out of a Place This NiceTwilight of the UAWBionic Assembly System: A New Concept of SelfDefinition of Export QuotasAnalysis of Ebay Expanding into AsiaResearch Process Part OneThe Effects of Illegal Immigration

English Language Education in Japan

English Language Education in Japan In Japan, eigo-kyouiku (English-language education) starts the first year of junior high school and continues at least until the third year of high school. Surprisingly, most students are still unable to speak or to comprehend English properly after this time. Reasons for Lack of Comprehension One of the reasons is the instruction focusing on the skill of reading and writing. In the past, Japan was a nation composed of a single ethnic group and had a very small number of foreign visitors, and there were few opportunities to converse in foreign languages, therefore the study of foreign languages were mainly considered to obtain the knowledge from the literature of other countries. Learning English became popular after World War II, but English was taught by teachers who were trained under the method that emphasized reading. There were no qualified teachers to teach hearing and speaking. In addition, Japanese and English belong to different families of languages. There are no commonalities either in structure or words. Another reason in the Ministry of Educations guidelines. The guideline limits the English vocabulary that is to be learned during the three years of junior high school to about 1,000 words. Textbooks must be screened first by the Ministry of Education and result for the most part in standardized textbooks making the English language learning too confining. Recent Years However, in recent years the necessity has increased to communicate in English as the ability to listen and speak English is in demand. The students and adults who study English conversation have increased rapidly and private English conversation schools have become prominent. Schools are now also putting strength into eigo-kyouiku by the installation of language laboratories and the hiring of foreign language teachers.

Summarize, in detail, an uploaded article in psychology Essay

Summarize, in detail, an uploaded article in psychology - Essay Example Klonsky has pointed out that the results of some studies suggest that it is found among 14% of college students, that more women self injure and that self injury has become increasingly common in recent years. The results of studies also show that the tendency to injure oneself first starts to appear between the ages of 14 to 14 and the most common form of injury is skin cutting, which occurs in about 70 to 97% of individuals. Self injury can be damaging for individuals because it causes physical injuries necessitating medical treatment, which could even be severe enough to lead to death. More damaging however, is the psychological distress caused to the victim and his or her loved ones. The rest of the article deals with the 18 empirical studies. Klonsky’s review has included only those studies which directly address the functions of self injury, i.e, studies which assess the motivation and reasons for self injury as well as the variables associated with self injury, such as affect states and preceding events. The seven common functions repeatedly examined in these studies include (a) affect regulation or self injury as a response to alleviate acute negative affect (b) anti-disassociation, or ending the experience of disassociation (c) anti-suicide, or to combat the urge to commit suicide (d) interpersonal boundaries or to assert one’s autonomy (e) interpersonal influence or to seek help from others (f) self punishment and (g) sensation seeking.( Klonsky, 2007:229). The author also states that three primary methodologies have been used in the studies to examine the above functions, namely (i) self reports of injurers where they discuss the reasons why they injure themselves (ii) self report of phenomenology, where self injurers talk about the experience of self injury and (iii) laboratory studies. The laboratory studies do not rely upon self reporting; rather the injurers are asked to perform

Analyze the Capital Cycle (healthcare related) Assignment

Analyze the Capital Cycle (healthcare related) - Assignment Example There are two components of a capital structure. The first comprises of strategic planning and implementation, while the second comprises of the development of supporting infrastructure which include financial planning, capital structure and capital allocation. The importance of a financial plan to an organization is that it places the organization in financial equilibrium position, which defines its organizational capabilities. The financial infrastructure plays an important role in giving integrity and momentum to the capital cycle. Capital structure on its part looks at the questions relating to the financing of the organization, which is best described as a combination of debt and equity that seeks to finance the strategic plan. Capital allocation should be done in consideration with the best practices that relate to financial objectives and policies, review of the project and the approval of the capital expenditures of the organization. ... Poplin (2011) observes that capital capacity has significantly reduced the hospital capacity, and defined the amount of capital available to the organization for funding both the routine capital requirements and the strategic plan of moving forward. Feasibility and impact of improved operating performance shows that organizations geographically located in markets that do not expect to experience organic growth have difficulties in closing the gap between projected sources and the application of finances over that time horizon. Strategic position and viability of strategic plans cautions executives to look closely at the strategic plans in line with the current financial plan. Some strategies may have to be extended to a later date while others may require some urgency in implementation. According to Coss (2009), labour efficiency in a healthcare institution is an important factor in the capital cycle. However, it is difficult to access individual worker’s productivity of the o rganization. In case it has to be done, a desired understanding of what defines a desired output is put into consideration. Healthcare investments that are aimed at improving the efficiency are increasing being considered by organizations. The various processes that are put into more focus include the workflow analysis, workplace architecture, product design, and information technology. The major difference is vested on the persons involved in the purchase of equipment and the actual users of the equipment. Different sets of purchasing and marketing motivators affect the purchasing decisions of high ranking decision making officials in a different way than those who regularly put the equipment to

Civil liberties during war-time Essay Example for Free

Civil liberties during war-time Essay Civil Liberties are for example freedom of speech and freedom of the press as defined by the first amendment. These freedoms have been challenged by the threat of war, but should they be taken away because of it? The first amendment states that Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances. These are our civil liberties that we are promised as citizens of the U.S. In the past these liberties have been interfered with. The main cause for this interference was war. The government wanted to abolish any chances of treason or leaking of information to the enemies and to do this they passed act such as the Alien and Sedition Acts. The Alien and Sedition Acts made it illegal to write, print, speak, or publish anything false or untrue about to United States. We can understand how certain precautions must be made to insure safety in times of war but to go so far as to take away our freedoms are out of bounds. There are numerous other ways to make us safe without interfering with our liberties. For example: tighter security. After 9/11 security became very tight at airports and other areas where terrorists might be able to enter the country. Although this extra security was tedious and time consuming to get through, it was well within the lines of the 1st amendment because it did not take away any of our freedoms. I do not believe that our civil liberties should be taken away during wartime. This is a democracy and should remain one whether engaged in war or not. The government can think of more ways to protect us other than limiting our freedoms of speech or of the press, and certainly without interfering with our privacy unless there is just cause to do so.

Essay on Pointing the Finger in John Milton’s Paradise Lost

Pointing the Finger in Paradise Lost  Ã‚   After the fall in Milton’s Paradise Lost, Adam and Eve bicker and blame one another for their decent. First, Adam accuses Eve for her physical act of accepting the apple from Satan and eating it, thus defying God’s decree not to eat from the Tree of Knowledge. In retaliation, Eve responds and attempts to not only justify her act, but also to place the blame on Adam. Eve’s reaction is typical of someone who does not like to admit he is wrong. Eve begins by challenging Adam with an argument that he would have done the same thing had he been in her situation. "[Had’st] thou been there,/ Or here th’ attempt, thou couldst not have discern’d/ Fraud in the Serpent, speaking as he spake" (IX 1148-1150). She is trying to justify her action in Adam’s mind by making him realize he would have acted the same way, and in effect she also hopes to gain his sympathy. This tactic is often effective because we do not tend to choose to recognize faults in others when we realize we are susceptible to the same mistakes. Aristotle recognizes the relationship between eliciting sympathy and making the audience relate to the situation in his Poetics when he describes the ideal character as one who is "true to life" (81). An audience must be able to relate to a falling character, or else they will not pity his plight. In other words, if a speaker wants sympathy from his audience, he must make them "feel his pain." Eve proceeds in her rebuttal with justification for her action based on the circumstances of the scenario. She argues, "No ground of enmity between us known,/ Why hee should me ill of seek to harm" (II 1151-1152). She seems to imply that a less trusting person would not have listened to the se... ...ccusation that he did not try hard enough to keep her at his side when he asks, "What could I more?/ I warn’d thee, I admonish’d thee, foretold/ The danger, and the lurking Enemy/ That lay in wait" (IX 1170-1172). No matter how developed any one piece of Aristotle’s triangle seems, it is useless without the other two parts. If you take a step back and observe this scene of Paradise Lost with your own experiences in mind, you realize how petty the "blame game" can be. Eve tries very hard to use persuasion as a "finger pointing" tool so she can alleviate any guilt of her own. However, she fails. We all must know what it feels like to fail in an argument, yet we still test situations like these sometimes when we do not want to accept full responsibility for something that has gone wrong. Works Cited   Milton, John. Paradise Lost. New York: W.W. Norton, 1993.   

Contempory Management Functions Essay

How do the theories proposed in your chosen reading inform your understanding of contemporary management functions and the employer-employee relationship? The Purpose of this essay is to determine how scientific management impacts contemporary management functions and the employer-employee relationship. This essay is based on the journal article [Locke,E (1982)The Ideas of Fredrick W Taylor: An Evaluation, Academy Management review,7(11),pp.14-24] and is regarding scientific management started by Fredrick Winslow Taylor which was a theory developed regarding management which analysed workflows. It was one of the earliest attempts to apply science to management. Scientific management’s main objective was to improve economic efficiency and productivity in the workforce. In most simple terms some of the many concepts were having a standardised method for doing a job, providing increased compensation to the worker as reward for being efficient and hiring the right person for the right job. Many of these theories are very commonly used in management today. Contemporary is a word meaning existing or occurring at the same time (Robbins,2012) . Management functions refer to the way somebody manages a business (Robbins,2012). Therefore contemporary management functions are how we typically manage today. Employer- employee relationship is the relationship in which a manager has with their employee’s and how they complete their work day together and if they are efficient together (Robbins,2012). The four contemporary management functions are Planning, Organising, leading and controlling. Planning is defined as a management function that involves defining goals, establishing strategies for achieving those goals and developing plans to integrate and coordinate activities (Robbins,2012). Organising is a management function that involves arranging and structuring work to accomplish the organisations goals (Robbins,2012). Leading is working with and through people to accomplish organisational goals and controlling involves monitoring, comp aring and correcting work performance (Robbins,2012). Scientific management theories proposed in this reading do apply to  contemporary management functions. Although many of these theories could be argued as common knowledge today, when Fredrick Taylor established them they were prehistoric terms. He wanted to find out ‘one best way’ for everything in the workplace. Taylor’s most well known experiment was the pig-iron experiment (Locke, 1982 ). The experiment involved workers loading ‘pigs’ of iron on to rail cars. He knew their current daily output, but believed more was possible using scientific management. This was done due to many things. First of all putting the right person on the job with the right tools and equipment. In today’s management people hire the best person they can for the job. Secondly he had the worker follow his instructions exactly. This is also normal in today’s management functions, because people do things the way the employer wants them to. Taylor also motivated successful and productive workers with higher pay (Locke, 1982). This is also very common in today, with higher salary packages for good workers and pay increases for productivity fairly common. This improves employer and employee relationships by making the employee feel valued. Although many people believe in Taylors scientific management functions Lawerence (2010), Green (1986) both argue that that this is not the case and that scientific management is the problem in today’s management. Although there arguments are well presented there seems to be no evidence suggesting that Taylor’s theories do not work. Chung(2013) Agrees with Taylors contemporary management theories but argues the point that people could be to caught up on contemporary management functions and forgetting some key aspects of general managing. Taylor’s scientific management theories help the understanding of the employer-employee relationship by making it easier to understand what the relationship is actually for. This relationship is primarily about productivity .Many things Taylor did such as relaying messages from the employer to the employee to improve productivity) are also widely used in today’s management(locke,1982) . He also discovered that giving feedback to your employees will increase there skills and there productivity ( Locke,1982). This method is also very commonly used today with weekly meetings in many companies between employee and employer. Many large companies today use contemporary management functions in the work place. Companies Such as subway, burger king and McDonald’s are all very structured from top to bottom of the company and people are constantly striving to think of ways to improve productivity thus maximising profits. Yang (2012), Talks about all the hugely complex mathematical equations that now go into various parts decision making in Burger King and McDonald’s. Although the equations are to complex to understand to the average person it is clear that management is a lot more planned and structured in today’s workplace. Williams (2008) statesâ€Å"Consistency is a priority at McDonald’s† (p.15). This is true because anytime you walk into a McDonalds anywhere in the world you know what to expect. This is due to the contemporary management functions of a large scale to plan and organise and regulate what every individual McDonalds can do to ensure people know what they are getting and what to expect every time they walk through that door. Williams (2008) also discusses the change between old management styles and new management styles that have produced positive results for the company. The new management styles are all very similar to what Locke (1982) says about Taylor’s theories. For example Williams (2008) speaks about all the new rewards McDonalds have brought in for successful franchises and employees ranging from bonus’s to promotions to higher positions which like Taylor suggests encourages people to work harder hence greater profits (Locke, 1982 ) . Williams (2008) also talks about the extensive process in training managers and staff and the new expectations of every employee within the company that has increased greatly over the years to insure everythi ng runs according to contemporary management functions. Taylor’s theories of scientific management are helpful in informing you of contemporary management functions and employer-employee relationships. The way the workplace is shaped today seems very relevant to Taylor’s theories. Many of his theories are normal in today’s management functions. Although he has had many critics of his work It is shown in the articles that not many have been able to prove there arguments. Using evidence such as Williams (2008) journal on the change in managing McDonalds makes it clear that Taylor has had a big influence on typical management functions in today’s  workplace. Chung, C. (2013) The Road Not Taken: Putting ‘Management’ Back to Taylor’s Scientific Management, Journal of multidisciplinary research, 5(1), pp. 45-56. Green, M. (1986) A Kantian Evaluation of Taylorism in the Workplace, Journal of Business Ethics, 7 (2), pp. 165-169. Lawrence, P. (2010)The key job design problem is still Taylorism, Journal of Organizational Behaviour, 31 (2), pp. 412-421. Locke, E. (1982) The Ideas of Fredrick W .Taylor: An Evaluation, Academy of Management Review, 7 (1), pp. 14-24. Robbins,S.R., Bergman, Stagg, Coulter. (2012). Management (6th ed.). Pearson Australia Group Pty Ltd. Williams, E. (2008) Accelerated leadership development tops the talent management menu at Mcdonald’s ,27(4),pp. 15-31. Yang,N. (2012) Burger King and McDonald’s: Where’s the Spillover?, 19(2),pp.255-281

Job Satisfaction Important Factors Assignment

I was appalled when I saw the first set of graphs conducted on the 600 employees, ND that the balance between life and work was so low on the list. Honestly, now that I have a child at home, I chose that as one of my top 5, but If you would have asked me two years ago I probably wouldn't have put that as an important aspect. I obviously chose Job security because no matter what, I want to know that I am Important to the company and that they need me to be there in order for everything to run smoothly, which In turn will almost guarantee that I will always have an available position within that company.The second most important Job aspect to me is the availability for career advancement. I am the type of person that always wants to better herself and to climb right up that corporate ladder. I don't ever want to settle with a position when I know that there is one higher and within my reach and ability if I were to try hard enough, and to complete the tasks necessary to gain that posit ion. So if a company does not have the opportunity for advancement, then it is not the right place for me, and I probably wouldn't even consider working there.Pay is obviously important because it is what make after working hard all day long for the company. It Is also what helps to support my family. As we've all heard â€Å"money makes the world go 'round†. I want to be rewarded for my accomplishments and to know that I am Important by the amount of money I make. The way I see It, the better I am at my job and the harder I work, the more money I make the company, so, why shouldn't I be rewarded for that? The fourth most important aspect to me is benefits.This also would not have been Important before I had a family. As a high school or even young college student, you don't think â€Å"l want to get great benefits when I graduate†. I honestly didn't even know what the word meant until I moved out of my parents house and got a Job on my own. Now that I have a family th ough, the benefits are most definitely an Important aspect of any Job. After reviewing the chart by the SHIRR my results are much more Like theirs than on the website. My numbers 1, 3, 4, and 5 are all located within the top 5 on their chart.My number 2, Career Advancement was not located anywhere on the top of can't, out actually second to last. I Nils contuses me, Decease tenet under two Is compensation and pay, but in order to make more money, you must advance your career. The farther up the corporate ladder you are, the more money you are likely to make. I guess when taking part in the survey people were not thinking about advancing their careers to make more money, but maybe were happy with where they were within their business. It is most definitely possible to get a raise in pay without changing positions and advancing.Everyone has different ways of thinking and maybe other people are not like me. Maybe they do not like change and want to be within the same position for as lo ng as that position is available to them. There is no wrong or right when it comes to people's opinions. I was glad to see that more people polled for Flexibility to balance life and work issues as I believe this is important to anyone who has a family or wishes to have one. I would say that between all three charts Compensation and Benefits have topped them, which proves the saying â€Å"Money Talks†.

Comparing The Black Cat and The Fall of the House of Usher

Comparing The Black Cat and The Fall of the House of Usher Free Online Research Papers The Black Cat and The Fall of the House of Usher are two very different yet parallel stories. For example, though the stories are different, Poe uses very similar themes for both of them. One theme is Passion. In both the stories, one of the main characters has had a passion for something or the other- The Black Cat: the narrator’s passion for animals and in The Fall of the House of Usher: Roderick Usher’s passion for music and the arts. Poe shows that passion can be expressed in many ways, no matter what state of mind the person is in. Perhaps this could be an indirect reference to himself, how, though he was an opium addict, he had a passion for writing and the opium did not stop him from expressing it. Another common theme between the two stories is struggle- trying to get out of a situation when you just cannot. In The Black Cat, the narrator tries to escape from the guilt of killing Pluto, but cannot, so he ends up killing his wife. He could not do anything to stop himself from behaving the way he did. This is extremely similar to The Fall of the House of Usher where Roderick Usher is trying to escape from the mental illness that he has. Asking his childhood friend to visit, he had hoped that it could help bring him out of his shell, maybe just miraculously cure him, but it does not. In the end, just like the narrator in The Black Cat, he ends up loosing something extremely precious- his life. Poe also uses Single Unifying Effect in both stories. Five examples of him using it in The Black Cat are: The voice from the tomb (the scream); the death of Pluto, his first cat; the ruining of his house; the murder of his wife and the image of the Gallows. Research Papers on Comparing The Black Cat and The Fall of the House of UsherMind TravelThe Masque of the Red Death Room meaningsCapital PunishmentWhere Wild and West MeetBook Review on The Autobiography of Malcolm XHip-Hop is ArtThe Fifth HorsemanComparison: Letter from Birmingham and CritoThe Hockey GameHonest Iagos Truth through Deception

Does the SAT Essay Matter Expert Guide

Does the SAT Essay Matter Expert Guide SAT / ACT Prep Online Guides and Tips In days of yore, the SAT Essay was very different. For starters, it was a required portion of the exam, scored as part of the writing section. You had a measly 25 minutes to give and support your opinion on such deep philosophical issues as the importance of privacy or whether people perform better when they can use their own methods to complete tasks. Things are very different now. Along with the SAT itself, the SAT Essay has been completely revamped and revised. Among other things, it is now an optional portion of the exam.In light of this SAT Essay renovation, many schools will no longer require that students take the SAT Essay when they take the exam. But what do all these changes mean for you? Is the SAT Essay important?Read on for a breakdown of the new SAT changes, information on which schools continue to require the SAT Essay, why schools do and don’t require this portion of the exam, and how to figure out if the SAT Essay is necessary or important for you. The New SAT Essay The SAT was revised in March 2016. The aspect of the exam that is most changed is the essay. Instead of writing a 25-minute opinion piece, you will have 50 minutes to analyze how the author of a given passage constructs his or her argument. Additionally, instead of having the exam integrated into your composite score, you will receive a separate score for your exam that does not affect your 1600-point score. The new exam is graded out of 24 points - 8 points each in â€Å"Reading† (essentially reading comprehension), â€Å"Analysis,† and â€Å"Writing† (writing style). See our breakdown of the new rubric here. Finally, the new essay is a completely optional portion of the exam. You don’t have to take it, and you’ll still get your 1600-point score. In this way it’s a lot like the ACT, which also has an optional essay. If you wish to register for the SAT Essay, you’ll pay an extra $.50. Because the essay is now optional, colleges have the option of not requiring students to send SAT Essay scores. Thus, many colleges have dropped this requirement.So who still requires the SAT Essay? Let this creepy happy pencil guide you through the SAT Essay! Who Requires the New SAT Essay? According to a Kaplan poll in which 300 schools were surveyed, most schools will not require the optional SAT Essay. However, some still do recommend or require it, particularly in the most selective tier of institutions. Notably, elite schools like the Ivy League, Stanford, MIT, and the University of Chicago are divided on the issue, with some requiring the essay and some neither requiring or recommending it. In the Ivy League, Harvard, Princeton, Dartmouth and Yale will continue to require the SAT Essay, and Columbia, Cornell, UPenn, and Brown will not. Big state schools are similarly divided: for example, the University of California system and the University of Michigan both require the essay, University of Illinois and Purdue University recommend it; and Penn State, University of Wisconsin-Madison, and Indiana University neither require nor recommend the essay. For the most up-to-date information on a school’s position on the SAT Essay, check the College Board. If the school isn’t on the list, check their admissions website.Those schools that do require the essay have gone on the record with specific reasons for doing so; I’ll break those down in the next section. Schools are divided, like this egg. Why Do Schools Require the SAT Essay? Given that so many schools won’t require the essay going forward, you may be curious about those that do still require it. What’s their reasoning?Based on public statements from school officials, it seems to boil down to three main reasons: #1: More Information Is Better Some colleges seem to feel that all of the information they can get from applicants is helpful in painting a complete picture of the applicant. Certainly the SAT Essay presents a somewhat unique data point in that there are no other standardized elements of a college application that would include specific information on an applicant’s timed writing skills. It makes sense that schools that value having all the information that it is conceivably possible to obtain about a student would require the SAT Essay. #2: The Revised Test Is Similar to College Work The old SAT Essay involved a fairly arbitrary task and bore no resemblance to any work students do in college. However, the revised essay engages a student’s rhetorical analysis skills and requires the kind of analytical thinking students will perform in college. Thus, some colleges require the new SAT Essay because they feel it gives valuable insight into how a student might perform with college-level work. #3: Sending a Message on the Importance of Writing Institutions may also require the SAT Essay simply because they wish to telegraph to the world that they believe writing is important. This was part of the rationale given by Yale as to why they would continue to require the essay. That’s why schools require it- but what about schools that don’t require the essay? What’s their reasoning? Cats or dogs: another hot-button issue at elite institutions Why Don't Schools Require the SAT Essay? There are four main reasons that schools have given for not requiring the SAT essay going forward: #1: Consistency Many schools already do not require the optional writing portion of the ACT. So now that the SAT Essay is also optional, it makes sense to not require it, either. This simply makes testing guidelines consistent for those schools. #2: The Essay Is Redundant Some schools feel that they already have sufficient evidence of an applicant’s writing capability through application essays. This is particularly true at institutions where multiple essays are required as part of the application. #3: The SAT Essay Does Not Predict College Success In the past, the old SAT essay has been shown to be the least predictive element of college success on the SAT. While there is not yet data on the new SAT essay’s predictive capabilities, schools have taken this opportunity to shed what they feel is basically dead weight in an application. #4: Requiring the SAT Essay Presents a Burden to Underprivileged Students Columbia’s primary concern is that the extra cost of the essay may be a deterrent to underprivileged students. University of Pennsylvania has made similar statements- minority and underprivileged students are least likely to have a â€Å"complete testing profile.† So, they’ve eliminated the SAT Essay requirement in the hopes of attracting a more diverse applicant pool. A diverse tomato pool. So Does theSAT Essay Matter to Your College Chances? I’ve gone over how and why schools use or don’t use the SAT Essay. But what does all of this mean for you? There are two main questions you need to answer to determine how important the essay is for you: first, should you take the SAT Essay section, and second, how important is your score? Should I Take the SAT Essay? This comes down mostly to whether or not you are applying to schools that require or recommend the SAT Essay. (In college applications, I would generally err on the side of treating recommendations as nicely-worded requirements.) If you are truly not interested in a single school that requires/recommends the essay, and you don’t see yourself changing your mind, go ahead and skip it.However, if there’s even a chance you might be interested in a school that does require/recommend the essay, you should take it. And if you’re applying to highly selective schools, definitely take the essay portion, because around half of them require the essay. So if you change your mind at the last minute and decide you’re applying to CalTech as well as MIT, you’ll need that essay. I advise this because if you don’t take the essay portion and then end up needing it for even one school, you’ll have to take the entire test over again. If you’re happy with your score already, this will be a big four-hour drag for you. You might also want to take the essay portion if you are particularly good at rhetorical analysis and timed writing. Even for colleges that don’t require the essay, a stellar score will look good. How Important Is Your SAT Essay Score? This is a little more complicated, as it does depend to a certain extent on the schools you are applying to.I spoke to admissions officers from several schools, and some themes emerged as to how important they consider your essay score to be, and how they use it in evaluating your application: The general consensus was that the essay was the least important part of the SAT overall. Admissions offices will look much more closely at your composite score. The SAT Essay is primarily looked at in combination with your other writing-based application materials: your admissions essay and your high school English transcripts are also used to determine your writing and language skills. Essentially, it’s a part of a facet of your application. That said, bombing the essay would be a red flag to admissions officers that you might not be fully prepared for college-level work. Overall, I would advise you not to sweat your essay score too much. The most important thing is that your essay score is more or less consistent with your other test scores. It certainly doesn’t have to be perfect- if you get a 1600 and an 18 out of 24, I wouldn’t stress too much. But if you, say, have a 1500 and get a 9/24 on the essay, that’s a little more concerning, as it may cause concern among admissions officers that you aren’t prepared for college-level work. In general, then, schoolsreally look at the score, but it’s not one of the most important parts of your application or even your SAT score.Your best bet if you are interested in a given school that requires the essay and you want more specific guidance how they use the essay is to call the admissions office and ask. To learn more about what a good SAT Essay score is, check out our guide to the average SAT Essay score. Not this kind of score! How Can I Succeed on the SAT Essay? Luckily, it’s very possible to learn the skills to hit the SAT Essay out of the park every time. Here are some general tips: Learn specific persuasive and argumentative techniques that you can reference in your essay. If you can’t identify what devices authors can use to make arguments, how will you write an essay about it? Make sure you have a clear thesis that can be defended with evidence from the passage. Include an introduction and a conclusion. This will help â€Å"bracket† your great points and show that you know how to structure a solid piece of writing. Rely on evidence from the passage to build your argument. Don’t give your opinion on the issue! The new SAT essay is not opinion-based. Make sure you use correct grammar and academic language. (No â€Å"This passage, like my brows, is on fleek.†) Write at least a page. Also see this guide to getting a perfect SAT Essay score and this one on improving your score. Tips to success: don't fold up the Essay section into origami boats. Final Summary and Actionables With the new SAT making the essay section optional, many schools have chosen to neither require nor recommend that students take it. Most schools will no longer require the essay, but highly selective schools are divided on the issue. Among those schools that do require the SAT Essay, many have gone on the record to say that they feel the essay provides a valuable additional piece of information on an applicant’s potential for college-level work. They plan on using the essay as a way to further evaluate an applicant’s writing skills, although for most of these schools it is considered the least important part of the SAT score. At schools where the SAT Essay is not required, the essay has been eliminated for a variety of reasons: for more consistency with ACT requirements, because the Essay seems redundant or poorly predictive of college success, or to attract a more diverse applicant pool. What does all this mean for you?If there’s even a chance you’ll apply to a school that requires or recommends the essay, take the SAT with Essay. If you don’t and end up needing it later, you’ll have to re-take the entire exam. If you do take the SAT Essay, don’t stress too much about getting a perfect score, but do prepare enough that you are confident you won’t get a very low score compared to your composite. What's Next? If you're thinking about test scores and college, check out my article on the minimum SAT score for college. Ready to get started with practice essays? Check out our thorough analysis of the SAT essay prompt and our complete list of prompts to practice with. Aiming for a perfect SAT essay score? Read our guides to get strategies on how to get an 8/8/8 on your SAT essay. Want to improve your SAT score by 160 points? Check out our best-in-class online SAT prep classes. We guarantee your money back if you don't improve your SAT score by 160 points or more. Our classes are entirely online, and they're taught by SAT experts. If you liked this article, you'll love our classes. Along with expert-led classes, you'll get personalized homework with thousands of practice problems organized by individual skills so you learn most effectively. We'll also give you a step-by-step, custom program to follow so you'll never be confused about what to study next. Try it risk-free today:

Review of an exibition you have visited OR you book you have read of a Essay

Review of an exibition you have visited OR you book you have read of a design related - Essay Example Disney books features and images from the concept development stage which were never seen before. It is entirely about the encounters of a lady known as Ann in a journey .It is dedicated to the design, art and creation of † Frozen†. She was together with a man called Kristoff. The aim of their journey was to search for her sister Elsa who was believed to have icy powers that used to trap the kingdom of Arendelle in eternal winter. Ann and Kristoff were trying all the means and battled to save the kingdom. The book contains a lot of early graphical art designs such as pictures ( SOLOMON, 2013). The art of this book comes with Elsa’s coronation in the first chapter of the book. The book has different graphic designs and styles. Tones of art are packed well with the book having few character designs. The characters have complex costume designs which actually raise the graphics of the book. The second chapter called the wilderness brings to the reader a scene in the forest. There is a development of an art of different kinds of trees and how snow looks on them. There is again the art of Ann going through the forest to look for Elsa. There is also the graphics brought by the landscape of this scene. In the forest Ann comes across the owner of a certain shop which has a few color graphics ( DICKERMAN, 2011). Chapter three of this book is called â€Å"Ice palace.† It has various graphic designs of architecture and look of the ice palace. It contains beautiful early art graphic designs. After Elsa becomes the â€Å"Snow queen,† she changes her hair style and dress. The snow queen, the design ethos, the color theory and graphics, landscapes and the character designs gives the reader the promise of a well written book. Here a reader finds that the author has used graphics of color in the dress won by Elsa to portray to us her point of transformation ( LUXBACHER, 2006). The final chapter which is named, â€Å"The return to Arendelle, mainly has the art of Arendelle