Buisness Essay Example | Topics and Well Written Essays - 500 words

Buisness - Essay Example Furthermore, such a management style of Dr. Kair was constantly leading to losses of sales due to the artificially prolonged sales process and sales people’s having no power over their work. 2 Identify and fully describe the management style (Chapter 7) that your would prefer to use as the CEO of the company. Choose the one that fits you best. The most popular management style of today is, probably, participative, or democratic, management. Since the employees of We Care Ambulatory Devices have low internal morale, trust, sharing of responsibilities and empowerment would, I believe, improve the overall situation. Employees should have a right to use own initiatives and express their ideas, which, in their turn, may contribute to the success of the organization. Delegation of tasks to the subordinates, as well as giving them freedom to take certain decisions independently will raise the morale of the staff and increase sales though speeding up the process. 3 Using your manageme nt style, how would you change the company? What would you do to increase internal morale, customer satisfaction and profitability? This is very hard to do and there is no one way of moving the company forward.

Tools and concepts to construct your personal career strategy

Tools and concepts to construct your personal career strategy Random House Dictionary defines success to be the favorable or prosperous termination of attempts or endeavors. The ambiguity in this definition may be attributed to the fact that there is no universal meaning for the word success. The meaning of the term depends entirely on the dreams and aspirations of the individual. Most people are given the opportunity to choose their own path, and use their choices to determine their idea of success. My life is a little bit different in that my idea of success has determined my career path. After much contemplation, I have realized that my personal definition of success is to make my fathers company internationally competitive. Stella Cortells book describes several issues related to personality development, and outlines activities and reflections on topics such as: identifying how you perform your best, improving your performance, task-management, assertiveness, giving and receiving constructive criticism, among others. I have considered the results of these activities in the crafting of my career development plan. The self-awareness of an individual should be taken into consideration when he or she is in search of a career. It should also be applied to enhance in the performance of ones job or profession. According to Goleman, the most important variables in ones career decisions are the level of self awareness and self-efficiency. (1996) Self-awareness will enable individuals to make the correct career decisions. In order to achieve my personal career goal, I must strive to become a more self-aware individual. Garavan defined self-awareness as the individuals ability to assess others evaluations of the self and to incorporate these assessments into ones self-evaluation. (1999) In developing my personal career strategy, I first considered my career goal, and the skills and qualifications needed to realize it. Afterward, I considered results of my MBTI model and Johari Window Model. I then integrated my self-realizations and the opinions of my peers and family members as a basis for my career development plan. I first identified how I perform the best. As a child, my favourite sport was football. I played on both community and school teams, and would frequently volunteer to help my coaches organise transportation to and from games. When I reached high school, my football skills were not honed enough to qualify me to play for the team, but out of love for the game, I stayed on as a manager. During my tenure as team manager, I designed several activities for the team and fundraised more money for my schools soccer program than any other manager before. This money was used to purchase new training equipment and uniforms for the team. That year, we beat our rival school for the first time in 5 years. Looking back at this experience, I was able to realize how much I truly enjoyed being in a managerial position. Curious, I consulted my old report cards to see if any of my past teachers had mentioned my leadership skills. Much to my surprise, several of them had mentioned that I was quiet, yet I had the natural ability to lead my classmates in group activities. In the future, I will inherit my fathers company. When the day comes for my to assume a managerial position, my leadership skills will definitely be useful. Despite this, my surprise at the discovery of my teachers comments shows me that I have several blindspots. Based on the comments of my friends and past teachers, I have come to realize that one of my personality traits that has the potential to negatively impact my future career plans is the fact that I am a shy person. While this shyness is not quite a liability, my fear of public speaking, and my reluctance to assert myself may serve to be a serious disadvantage when I assume a managerial position. In order to improve my performance as a manager, I have added relevant steps to my career development plan that will train me enhance my speaking skills and will teach me to be more assertive. I have also added steps and goals in my career development plan in an effort to expand my current knowledge and talents, and thereby improve my performance. According to Monster.com, Many employers are looking for candidates with a strong sense of self-awareness. Monster evens offers a quiz on their website to help determine how self aware you are now as you are looking for a job. (Christie) These skills will help an individual choose the right career and make the appropriate decisions in managerial development. Companies are becoming increasingly aware of the importance of self-awareness, and as such, they are also looking to hire employees who possess these qualities. In order to become more self-aware, I examined my ability to manage and complete tasks. Through personal reflections and feedback from peers and academic advisors, I observed that many of my peers perceive me to be organised and responsive. As a result of this observation, I have realized that I am reasonably efficient in the management of my personal tasks. Because of this, I have designed my career development plan to include a several activities. This will enable me to maximize my time. I took the MBTI test to further my level of self-awareness. The results show that my personality is the ENFP (Extroversion, Intuition, Thinking and Perceiving). People with ENFP personalities tend to lead by creating a vision, and helping people see their potential. ENFP personalities also tend to influence by listening to and incorporating the ideas of others. Finally, ENFP personalities tend to focus on exploring all the possibilities. This personality type describes many characteristics that are in line with the steps I have outlined in my career development plan. One of the steps in my action plan is to obtain a Masters Degree in Business Administration. I hope my studies will supplement my personality and provide me with formal training to enable me to help people see their potential. This skill will be invaluable when I become a manager. I have also used the results of my Johari Window model in the development of my career plan. I noticed that I do not consider myself, nor do others consider me, to possess certain characteristics that I believe are essential to good leadership. For example, I do not consider myself, nor was I described to be articulate. I believe that the ability to communicate with others effectively is an extremely important aspect of management. Considering this, I have modified my career development plan to develop my public speaking skills. It was also interesting to note that I had an empty quadrant in the results of my Johari Window model. This quadrant was the hidden one, which represents the things that the subject knows about his or her self but other people do not know at all (Luft and Ingham 1955). This panel contains all the information that the subject has not divulged to anyone or to the person with whom the interaction is taking place. It is during this step that the process of self-disclosure takes place (Luft and Ingham 1955). Over time, as people begin to trust each other more and reveal more information about them, the items that are contained in the hidden quadrant are moved to the open quadrant. While I would like to believe that I am transparent to the point that there is nothing hidden about me, logically, I know this is impossible. The empty quadrant can likely be attributed to my reluctance to admit that I prefer to keep some things to myself. While this observation did not translate into a step in my career development plan, my awareness of this aspect of my personality will make me more conscious of such behaviour in the future. Another thing I learned through the application of an activity performed during this class, is that I sometimes have difficulty receiving and giving constructive criticism. As I tend to be a very reserved person who tries to see the best in everyone, I have realized that I am not very good at criticizing my peers as I have a tendency to be too nice. This realization came as a shock. Because I consider myself to be a very honest person, I had previously assumed that I was able to provide candid evaluations. My self-awareness of this limitation will definitely help me in my future career. One of the fundamental parts of being a manager is the need to provide employees with constructive criticism. Managers who are unable to do so will be extremely ineffective. As such, I have realized that I need to train myself to be less afraid of what people think, and more concerned with providing helpful evaluations. My awareness of my inability to provide constructive criticism further convinced m e of the need to obtain a Masters Degree, which is a step on my career development plan. I hope that my study of Business Administration will teach me to be a more candid evaluator. A similar activity taught me that I also have difficulty receiving constructive criticism. I attribute this personality deficiency to the fact that I have set a very high standard for myself, and because I am proud of my personal achievements. As such, criticism often embarrasses me. My awareness of this facet of my personality will not only help me in my future career, but I believe it will help me become a better person. In my opinion, it is extremely difficult to advance as an individual without the criticism of others. A person must be able to learn from his or her errors; otherwise he or she will probably continue to repeat the same mistakes. In order to be an effective manager, I will undoubtedly need the advice and guidance of my father, and those who have extensive experience in the field. If I am unable to receive criticism with an open mind, I will be greatly limiting myself. Although my awareness of this personal limitation cannot be translated into a phase on my career de velopment plan, but I will always remember that this is something I need to work on. Conclusion The various concepts and theories in this course have allowed me to become a more self-aware individual. They have enabled me to discover of my personal strengths, weakness and personality tendencies. There are several aspects of my personality and a few character traits of which I was previously unaware. Before being made of aware of these, I already had a career development plan, but it was very vague and general. Much of what I learned about my shortcomings and myself has translated into a phase in my career development plan. Some of the other things I learned about myself cannot be explicitly seen on the plan. Despite this, I will strive to remember these positive characteristics and use them to my advantage. With regard to my negative qualities, I am certain that my awareness of them will help me to ensure that they will not limit my careers progress. Unlike most individuals who are able to use their self-awareness to select their career path, my professional future was determined at birth. As such, I have used my improved sense of self-awareness to identify what needs to be done in order for me to achieve my career goals. Thus, my present plan is much more direct, and focuses on skills and qualifications I need to attain in order to become a better manager. Critically evaluate the role that your self-awareness will play in making your career a success A manager who is unaware of his or her blind spots or of how he or she impacts others is a walking disaster in the workplace, a leader who may lead the troops over the cliff. (Koonce, Richard) My lack of self-awareness could be a liability in the near future. As such, I will strive to be more aware of my blindspots, so as to be informed as to my strengths and weaknesses. This awareness will allow me improve my performance as a manager, as I will be able to better prevent my blindspots from negatively affecting those under my management. By being more self aware, I will be able to use my strengths and personality to create a more work conducive environment. I aspire to be able to use my self awareness to become a better leader, and a more efficient manager. When trying to enhance leadership skills it is imperative for leaders to understand that their behaviour is interpreted differently according to a subordinates personality. Indeed, the same message that a leader is communicating (even if the content is the same) could be interpreted in several different ways depending on the personalities of the subordinates. (Hautala) By being more aware of my behaviour, I will be able to modify my actions according to the personality of my subordinates. Because of this, as a manager, I will be able to communicate effectively with my staff. I believe that effective communication between managers and employees is paramount to the success of a business. The results of my personality test have taught me a lot about myself. Because of the MBTI model, I learned that people who have an ENFP personality tend to influence by listening to and incorporating the ideas of others. As such, I plan to one day use this aspect of my personality in future management practices. I firmly believe that two heads (or more) are better than one. As such, I hope that this side of me will make me more responsive to the changing business conditions. I also learned that ENFP personalities tend to focus on exploring all the possibilities. I have realized that this tendency could be either an asset or a liability. As a future manager, I understand the value of examining all aspects of an issue before making a decision. A thorough consideration of all factors and conditions is more likely to result in a more prudent choice. However, people who are overly concerned with being able to predict the effects of decisions are sometimes unable to make choices quickly, which often results to their disadvantage. My awareness of this side of my personality will enable me to be a better manager, as I will be strive to ensure my desire to consider all possible angles will be an asset, not a liability. Based on the results of my Johari Window model, I have learned that I perceive myself to be kind and shy, while others consider me to be clever, giving, happy, helpful and logical. Today the Johari Window model is especially relevant due to modern emphasis on, and influence of, soft skills, behaviour, empathy, cooperation, inter-group development and interpersonal development. (Businessballs, 2008). This insight into my personality will be useful in my future career. As a manager, the perceptions of the people being management are of utmost importance. Subordinates must perceive their manager to be logical. If they believe otherwise it is unlikely that they will be able to perform their tasks effectively. I hope to maintain the way people view me, as I believe it will be useful in my future career. Self-awareness is necessary to my success as a manager. I truly believe that a deeper understanding of myself will allow me better understand others. Action plan Graduate I am currently a college student I study diligently and manage my tasks efficiently to ensure that I graduate on time Before graduation, I plan to engage in more student activities that will help develop my leadership skills Hone my Public Speaking Skills I am a shy person. Due to the fact that I aspire to be the manager of an internationally competitive company, I need to develop my public speaking skills I will enrol in classes that will train me to become a more articulate and confident speaker Obtain a Masters Degree Further study in the field of Business Administration will be useful in my future career Concurrently, I hope to find a job in company in a similar line of business to my fathers company Work for my fathers company Given my educational training and work experience I hope to study the structure of my fathers company and evaluate its performance and make the necessary changes to make the company internationally competitive

Business And Government Agencies :: essays research papers

Business and Government Agencies The primary focus of my topic is three fold, first if a high ranking official from a firm were to become the Director of an agency and his former company is asking for approval of a drug, how should the Director act in regard to this rulemaking? The second question is not a difficult, if a former Director were to assume a position at a firm asking for approval of a drug, how should the former directors position influence the decisions of the agency? Finally how could government regulation limit the potential conflicts of interest from the "Revolving Door"? The first scenario answer is both ethics and law based. It would be unethical for the Director to have any influence what so ever in this circumstance. Realistically the Director would have probably at least an influence to the degree that those who work for him would at least try and guess his desire for the outcome, at worst he would directly or indirectly tell them. Probably at this point no procedural rules have been breached. This is of course only if the director has not tried to influence the Administrative Law Judge in which case many legal issues could be raised, more on that in question three. Back to the ethics involved, it would be very important if the Director were to try and be ethical about the issue he/she should give the appearance of ethical procedure. One way this could be done is that a recommendation could be made rulemaking be in a formal format. In addition she/he should be very careful to limit ex parte contacts between himself and his former business associates. Under no circumstance should the Director have conversation of any nature involving this case. Under the circumstance that the drug was or was not approved, the case could go before Judicial review, there any appearance of unethical behavior could not only be be evidence to support a plaintiffs claims, and even case a de novo review, but even worst it could be food for the media and a public scandal. The second question if the director were to leave and become a superior for a firm. I don't see this as a big threat, the new director would have his new alliances. It would seem like any influence that the former director would have would have to be kept to a minimum in order to preserve the rulemaking under the circumstance that the findings were on the firms behalf. As a company representative he should not personally make ex parte contacts with the agency

Blaine Case

Executive Summary: In summary, recommendation by the banker to buy back 14 million outstanding shares of Blaine Kitchenware with $ 50 million debt and $209 million cash in hand would result in following financial metric changes: * Increase the value of the firm through the benefit of tax shield from current $960million to $1. 063billion. * The offer results in 3% increase in EPS from $0. 91 to $0. 93 based on 2006 financial numbers. * An increase of 7. 3% on ROE from 11% to 18. 3% based on 2006 financial numbers. * After adjustment, share prices will be $18. 0. Proposed Buy-Back Plan Analysis:Although Blaine’s current financial situation is sound with no debt, its current balance sheet is under levered and over liquid compare to its peers. The current financial structure earns little return on the short-term assets while does not allow the firm to benefit from any debt interest tax shield. The proposed capital structure will benefit the company by levering its balance sheet. I t will provide an interest tax shield for the income thus increasing the value of the firm for the shareholders. Because interest on debt is a tax-deductible expense, taking on debt will effectively lower the taxable income allowing the firm to pay less tax.The current large cash and short-term marketable securities on the balance sheet make Blaine an attractive target for a take-over. The large cash on balance sheet could effectively be used as a collateral to finance a take-over or merger of Blaine. Such characteristics attract private equity firms in which can utilize the over-liquid situation to their advantage. The current mature nature of business also requires a levered capital structure. A firm in this situation should not follow a pecking order, as it would hold down the value of the firm while making it attractive for a take-over or merger.Less cash in balance sheet also reduces agency cost by forcing managers to invest only in opportunities that are aligned with sharehold ers vision and interest therefore reducing wasteful investments not benefiting shareholders. As for the future acquisitions, Blaine can either use debt or issue stocks when appropriate. Furthermore the proposed share buy-back will give more control to family investors. Since initial IPO and previous acquisitions has diluted the shares, family control in Blaine has been on decline and a source of concern.The proposed share buy-back will return more control into family shareholder hands further solidifying their support for the new capital structure. The repurchase offer would affect both income statement and balance sheet of the firm. In the balance sheet debt is increased by $50 million, cash is reduced by $209 million while equity is reduced by $259 million. The remaining cash can be used to fund seasonal peak operation in combination with additional short-term debt should it be needed. Our EPS will increase by 3% to $0. 93 from current $0. 91 and our ROE will see a large increase from 11% to 18. % further bringing Blaine closer to its competitors. The result of additional debt in the balance sheet will increase the value of the firm from current $960million to $1. 063billion while adjusted share prices will rise to $18. The increase in share value is due to increase in the value of the firm from $960million to $1. 06billion because of levering up the firm since value of any levered firm is its unlevered value plus its tax rate multiplied by its interest bearing debt. The $18. 50 offer holds a premium over adjusted future share price of $18 therefore making the proposed capital structure attractive to shareholders.The debt to equity ratio of 2. 5% is still conservative and aligned with the vision of the company not to over utilize debt in its capital structure. Furthermore the increase in Enterprise Value to EBITDA ratio from 9. 9% to 14. 8% will make the firm more costly to be acquired thus less attractive for a take-over. A dividend policy in place of the s tock repurchase will not provide the same value for the company and its shareholders. Dividends are subjected to higher tax rate compare to capital gain increased due to share buy-back.This discourages shareholders from desire to receive high dividends in place of higher capital gain as share values increase. A comparison is made below between the proposed capital structure and dividend policy. | Share buyback| One-time special cash dividends| Pros| Increase EPS/ROE, pos. sign of future earnings, Lower tax rate compare to div policy| Happy shareholders, positive sign of future earnings, | Cons| Limiting liquidity, opportunity cost | Limiting liquidity, opportunity cost, higher tax rate compare to capital gain policy| Share outstanding| Decrease| No change|EPS| Increase| No change| ROE| Increase| Increase| In summary we recommend the share buy-back plan, as it will increase the value of the firm, shield part of income from taxes, increase return on equity and lowers agency cost. The increase in value of the firm and lower cash in hand also makes the firm less attractive target of a take-over. Supporting Material: Case Exhibit 1 Income Statement| | | | | | With Repurchase Option| | Â  | Â  | Â  | Â  | Â  | Â  | Â  | | |Operating Results:| | | 2004 | 2005 | 2006 | 2006 | | Revenue| | | | 291,940 | 307,964 | 342,251 | 342,251 | | Less: Cost of Goods Sold| | | 204,265 | 220,234 | 249,794 | 249,794 | | Gross Profit| | | 87,676 | 87,731 | 92,458 | 92,458 | | Less: Selling, General & Administrative| 25,293 | 27,049 | 28,512 | 28,512 | | Operating Income| | | 62,383 | 60,682 | 63,946 | 63,946 | | Plus: Depreciation & Amortization| | 6,987 | 8,213 | 9,914 | 9,914 | | EBITDA| | | | 69,370 | 68,895 | 73,860 | 73,860 | | Â  | | | | | | Â  | Â  | |EBIT| | | | 62,383 | 60,682 | 63,946 | 63,946 | | Plus: Other Income (expense)| | 15,719 | 16,057 | 13,506 | 0 | No marketable security income| Less Interest| | | 0 | 0 | 0 | 3,375 | Tax shield amount| Earnings Before Ta x| | | 78,101 | 76,738 | 77,451 | 60,571 | | Less: Taxes| | | 24,989 | 24,303 | 23,821 | 18,629 | | Net Income| | | 53,112 | 52,435 | 53,630 | 41,942 | | Dividends| | | | 18,589 | 22,871 | 28,345 | 22,167 | Assume same 53% div policy| Â  | | | | | | Â  | Â  | | | | | | | | Â  | Â  | | Margins:| Â  | |Revenue Growth| | | 3. 2%| 5. 5%| 11. 1%| 0. 0%| | Gross Margin| | | 30. 0%| 28. 5%| 27. 0%| 27. 0%| | EBIT Margin| | | 21. 4%| 19. 7%| 18. 7%| 18. 7%| | EBITDA Margin| | | 23. 8%| 22. 4%| 21. 6%| 21. 6%| | Effective Tax Rate (1)| | | 32. 0%| 31. 7%| 30. 8%| 30. 8%| | Net Income Margin| | | 18. 2%| 17. 0%| 15. 7%| 12. 3%| | Dividend payout ratio| Â  | Â  | 35. 0%| 43. 6%| 52. 9%| 52. 9%| | Case Exhibit 2 Balance Sheet| | | | | | With Repurchase Option| Â  | Â  | Â  | Â  | Â  | Â  | Â  | | Assets:| | | | 2004 | 2005 | 2006 | 2006 |Cash & Cash Equivalents| | | 67,391 | 70,853 | 66,557 | 21,866 | Marketable Securities| | | 218,403 | 196,763 | 164,309 | 0 | Accounts Receivabl e| | | 40,709 | 43,235 | 48,780 | 48,780 | Inventory| | | | 47,262 | 49,728 | 54,874 | 54,874 | Other Current Assets| | | 2,586 | 3,871 | 5,157 | 5,157 | Total Current Assets| | | 376,351 | 364,449 | 339,678 | 130,678 | Â  | | | | | | Â  | Â  | Property, Plant & Equipment| | 99,402 | 138,546 | 174,321 | 174,321 | Goodwill| | | | 8,134 | 20,439 | 38,281 | 38,281 |Other Assets| | | 13,331 | 27,394 | 39,973 | 39,973 | Total Assets| | | 497,217 | 550,829 | 592,253 | 383,253 | Â  | | | | | | Â  | Â  | Liabilities & Shareholders' Equity:| | | | Â  | Â  | Accounts Payable| | | 26,106 | 28,589 | 31,936 | 31,936 | Accrued Liabilities| | | 22,605 | 24,921 | 27,761 | 27,761 | Taxes Payable| | | 14,225 | 17,196 | 16,884 | 16,884 | Total Current Liabilities| | | 62,935 | 70,705 | 76,581 | 76,581 | Other liabilities| | | 1,794 | 3,151 | 4,814 | 4,814 | debt| | | | 0 | 0 | 0 | 50,000 |Deferred Taxes| | | 15,111 | 18,434 | 22,495 | 22,495 | Total Liabilities | | | 79,840 | 92,290 | 103,890 | 153,890 | Shareholders' Equity| | | 417,377 | 458,538 | 488,363 | 229,363 | Total Liabilities & Shareholders' Equity| 497,217 | 550,829 | 592,253 | 383,253 | Â  | Â  | Â  | Â  | Â  | Â  | Â  | Â  | EPS | Â  | Per Outstanding Shares of| Before| $0. 908 | 59,052,083 | After| $0. 931 | 45,052,083 | Improvement| 2. 51%| | ROE| Â  | @ Book Equity| Before| 10. 98%| $488,363 | After| 18. 9%| $229,363 | Equity Value| Â  | Vu| $959,596 | VL| $1,063,196 | New Share Prices| $18. 00 | Case Exhibit 3 – Peer Comparison | Home ; Hearth Design| AutoTech Appliances| XQL Corp. | Bunkerhill, Inc. | EasyLiving Systems| | Blaine Kitchenware| Blaine Kitchenware After Repurchase| | | | | | | Â  | | | Revenue| $589,747| $18,080,000| $4,313,300| $3,671,100| $188,955| | $342,251| 342251. 25| EBIT| 106,763 | 2,505,200 | 721,297 | 566,099 | 19,613 | | 63,946 | 63945. 5| EBITDA| 119,190 | 3,055,200 | 796,497 | 610,399 | 23,356 | | 73,860 | 73,860 | Net income| $53,698| $1,416,012| $412,307| $335,073| $13,173| Â  | $53,630| 41941. 55799| | | | | | | | | | Cash ; securities| $21,495| $536,099| $21,425| $153,680| $242,102| | $230,866| 21,866 | Net working capital*| 54,316 | 1,247,520 | 353,691 | 334,804 | 21,220 | | 32,231 | – | Net fixed assets| 900,803 | 7,463,564 | 3,322,837 | 815,304 | 68,788 | | 174,321 | 174,321 | Total assets| $976,613| $9,247,183| $3,697,952| $1,303,788| $332,110| Â  | $592,253| 383,253 | | | | | | | | | |Net debt (1)| $350,798 | $4,437,314 | $950,802 | $238,056 | ($64,800)| | ($230,866)| 28,134 | Total debt| 372,293 | 4,973,413 | 972,227 | 391,736 | 177,302 | | – | 50,000| Book equity| $475,377 | $3,283,000 | $2,109,400 | $804,400 | $94,919 | Â  | $488,363 | 229,363 | | | | | | | | | | Market capitalization| 776,427 | 13,978,375 | 5,290,145 | 3,962,780 | 418,749 | Â  | 959,596 | 1063196. 354| Enterprise value (MVIC)| $1,127,226 | $18,415,689 | $6,240,947 | $4,200,836 | $353,949 | Â  | $728,730 | 1,091,330 | | | | | | | | | | E quity beta| 1. 03| 1. 24| 0. 96| 0. 2| 0. 67| | 0. 56 | 0. 7| | | | | | | | | | LTM Trading Multiples| | | | | | | | | MVIC/Revenue| 1. 91x| 1. 02x| 1. 45x| 1. 14x| 1. 87x| | 2. 13x| 3. 19x| MVIC/EBIT| 10. 56x| 7. 35x| 8. 65x| 7. 42x| 18. 05x| | 11. 40x| 17. 07x| MVIC/EBITDA| 9. 46x| 6. 03x| 7. 84x| 6. 88x| 15. 15x| | 9. 87x| 14. 78x| Market/Book equity| 1. 63x| 4. 26x| 2. 51x| 4. 93x| 4. 41x| | 1. 96x| 4. 64x| | | | | | | | | | Net Debt/Equity| 45. 18%| 31. 74%| 17. 97%| 6. 01%| -15. 47%| | -24. 06%| 2. 65%| Net Debt/Enterprise Value| 31. 12%| 24. 10%| 15. 23%| 5. 67%| -18. 31%| | -31. 68%| 2. 58%|

Eddie loves Catherine Essay

The reason why Eddie loved Catherine so much is because she knew everything about him and had the qualities that Eddie liked. Eddie treated her like a child because he did not want he to realise that she was growing up. Eddie liked this because he could have control over her. At this point this is when the audience realises that Eddie has no hopes except from the hopes of having a woman he can never have. The audience may think that Eddie is selfish because he will not let Catherine lead her own life. By looking at the way eddies personality changes I think that he is having a mid-life crisis. There are different types of relationships in the play: The relationship with Eddie and Catherine is incestuous love. The relationship between Beatrice and Eddie is platonic love. The relationship between Rodolpho and Eddie is they are like rivals trying to get Catherine. The relationship between Marco and Eddie is hatred. The relationship between Alfieri and Eddie that Alfieri is eddies lawyer. I feel that Catherine is partly to blame because she knew everything about Eddie and so she should have realised his feeling to wards her. Also she should have not acted like a child all the time allowing Eddie to have control over her. I feel sorry for Marco because he is a good person trying to give his family a good future but Eddie destroys his plans. I also feel sorry for Rodolpho because he done what everyone does, falls in love. We can tell that he is a good person because he tries to make up with Eddie. I think Beatrice has no self-esteem because she does everything that Eddie tells her and does not stick up for herself. I think that Eddie is helpless. He is obsessed with work and I think that he has no future. I think that because he did not get his only hope that he did not mind dying. I do not feel sorry for Eddie dying because he is a back stabber and should not of done what he done. I think that he is very over protective and over reacted when he found out that Catherine was in love. The audiences’ reaction might be different to mine but I was shocked when Marco killed Eddie because I thought that it might have been Rodolpho that killed him because of all the things that Eddie done to him.

Purdue GPA Calculator Essays

Purdue GPA Calculator Essays Purdue GPA Calculator Paper Purdue GPA Calculator Paper Purdue GPA calculator helps the potential students evaluate the proximity of getting the chance to study at the University. It is a handy instrument for all students being in the pursuit of the place of studying. The Purdue University is one of the most popular and well-developed research universities of the USA. This institution leads the field of the aviation industry and space technology, and students are engaged in flight training. The studying programs in the field of mechanical engineering, business, and agriculture are recognized as the best in the country and the world. Every year in the Purdue University, more than 2 thousand scientific projects are launched. The investigations are conducted at the modern research centers of the higher education institution. You can get a comprehensive academic education here. The Purdue University cooperates with the national aviation companies. A student studying here receives a chance to take part in student exchange programs and win gran ts to conduct various investigation projects. If you have decided to become a student of this institution, you need to use a Purdue University GPA calculator and single out what are your chances to get a place here. Purdue University GPA calculator GPA calculator Purdue can be used to determine the â€Å"what if† GPA combination. It is a way to discover whether a student will have difficulties with the entering to the chosen university. The result allows estimating the current situation and predicting the future. If the student sees that is â€Å"what if† points are good enough and let him get the place in the institution he wants, he can relax and prepare for entering a campaign. In another case, he needs to make an effort and try to change the marks for the better. It is necessary to have almost A’s and a few B’s to be patient that there will be a high guarantee that there will not be any troubles. There are several ways to raise the GPA. To discover some points gained for a specific course using this particular app. Bear in mind the fact that it is not an official result. It is just a prognosis allowing building plans and finding the University, where you will get the degree. Use the Purdue Kranne rt GPA calculator to determine your chances! Purdue University GPA Calculator Purdue University GPA Calculator works as a well-designed mechanism helping potential students to discover their possible results. If you have grand plans for your future education and career and want to become a student of Purdue University, you can use a Purdue cumulative GPA calculator to count the â€Å"what if† points. You have to insert the name, of course, credit hours and predicted grades. The program will make all the calculations quickly and present you a result. The GPA, which you receive, is not a final and official marker. It is just a prognosis. If you still have time, to improve your marks – dedicate all your efforts to it. To discover the approximate GPA that will allow you to get the place at the university, you can consult the last year’s rating. It will let you see the full picture. Do not lose the opportunity to discover the GPA as it may help you to enter the prestigious higher educational institution, get proper education and built the grea t career!

Cisneros-biography essays

Cisneros-biography essays Sandra Cisneros writing has been shaped by her experiences. Because of her unique background she is very different from traditional American writers. An important theme of her work is the heterogeneity of the Mexican-American community, expressed through differences of class, gender, education, and language use. From the start of her life Sandra Cisneros didnt have what you or I would consider a normal childhood. As a person growing up in a society where the class norm was superimposed on a television screen, I couldnt understand why our home wasnt all green lawns and white wood like in the ones in Leave it to Beaver and My Father Knows Best.(Ghosts). She had a tough time believing her fate was to be spent in poverty, so she looked for an escape. An escape that led her to a book called The Little House, which she would continually check out of the library as a kid. It was her favorite because it contained her dream house, one house for one family that was secure and lasting. Throughout Cisneros life she was never allowed much time to get settled into one place or one home. Her Mexican-American Mother, her Mexican father, and her six brothers were constantly moving between Mexico City and Chicago-where she was born. Unable to establish lasting friendships and having no sisters forced Sandra to bury her loneliness in books. In high school she began writing poetry and even took over as the editor for the literary magazine, but according to her she didnt start to really write until her first creative writing class in college of 1974. After that it took her a while to find her own voice. She said in her book Ghosts... I rejected what was at hand and emulated the voices of the poets I admired in books: big male voices like James Wright and Richard Hugo and Theodore Roethke, all wrong for me."(Ghosts). ...

Use of the Apostrophe in Possessive Constructions

Use of the Apostrophe in Possessive Constructions Use of the Apostrophe in Possessive Constructions Use of the Apostrophe in Possessive Constructions By Mark Nichol This post outlines the prevailing rules and recommendations for employing apostrophes when using the possessive form of a noun and discusses in which cases an s should follow the apostrophe. Apostrophes are used to indicate singular possession, as in â€Å"The dog’s collar is too tight,† and plural possession, as in â€Å"Several of our neighbors’ cars were vandalized.† When referring to two or more people collectively, use an apostrophe only after the last noun or name: â€Å"John and Jane’s daughter is going off to college.† When referring to two or more people separately, employ apostrophes for each noun or name: â€Å"My doctor’s and dentist’s names are the same.† Some style handbooks recommend using only an apostrophe after singular nouns and proper names ending in s, as in â€Å"The witness’ last statement is puzzling† and â€Å"He is among the most eccentric of Dickens’ characters,† but this style is prevalent primarily in journalistic writing, and most style guides call for an additional s: â€Å"The witness’s last statement is puzzling† and â€Å"He is among the most eccentric of Dickens’s characters.† However, plural possessive forms of surnames should be treated as in â€Å"The Smiths’ house is the third one on the right.† (Plural possessive forms of names ending in s are treated as in â€Å"We had dinner at the Thomases’ house.†) An exception used to be made for words and names ending in an unpronounced s as well as biblical or classical names ending in s, but now it is recommended that these be supplied with an additional s; examples include the names in â€Å"Descartes’s treatise† and â€Å"Jesus’s followers.† However, when the singular and plural forms of a noun are the same, omit the final s, as in â€Å"The species’ distinguishing characteristics are listed below.† When the name of an entity such as a city ends in s but is singular, likewise, use an apostrophe only: â€Å"Construction of El Dorado Hills’ new community center is underway.† If such conflicting usage seems awkward, avoid the possessive form; instead, write â€Å"The distinguishing characteristics of the species are listed below† and â€Å"Construction of the new community center in El Dorado Hills is underway.† When using an idiom beginning with for and ending in sake, such as â€Å"for goodness’ sake,† omit the final s. Apostrophes are also used in the genitive case, in expressions such as â€Å"two weeks’ notice,† and in possessive forms that resemble the attributive use of a noun (that is, a noun modifying another noun), such as â€Å"farmers’ market,† meaning â€Å"a market belonging to farmers.† Some people choose to style such phrases attributively (â€Å"farmers market,† meaning â€Å"a market of farmers†), but such use is best reserved only for proper names (for example, â€Å"the Department of Veterans Affairs†). When a gerund follows a noun, the noun should be treated possessively, as in â€Å"Doctors’ prescribing such medication is problematic,† meaning â€Å"The habit among doctors of prescribing such medication is problematic,† but perhaps it is better to simply use the alternative wording. The possessive form of a noun that follows a preposition, however, is optional; one may write either â€Å"They knew about their supervisor’s spying on them† or â€Å"They knew about their supervisor spying on them,† but this, too, is perhaps better revised to â€Å"They knew that their supervisor was spying on them.† Italicized publication and book titles should be followed by an nonitalicized apostrophe and s, as in â€Å"People’s cover story† and â€Å"War and Peace’s formidable length,† though periodical titles ending in s should be followed by an apostrophe only, as in â€Å"the Los Angeles Times’ subscription data.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Punctuation category, check our popular posts, or choose a related post below:36 Adjectives Describing LightAwoken or Awakened?Narrative, Plot, and Story

Cyber Security Essay Example | Topics and Well Written Essays - 750 words

Cyber Security - Essay Example This essay discusses cyber security and focuses on Stuxnet, a highly effective computer virus. According to Infosecurity Magazine (2014), researchers (Symantec and Kaspersky Lab) found out that Stuxnet virus was developed by the working together of the U.S. and Israel with the intention of destroying five Iranian Industrial Firms. Its industrial automation was however carried out by the contractors that were working within the Natanz plant. From this assertion, one can deduce that the final target of the attack was a uranium enrichment facility that was in Natanz. However, Kelley (2013) asserts that Stuxnet worm was introduced into Natanz power plant through one of the workers’ thumb drive. The introduction of the virus led to the increase in the pressure of spinning centrifuges whereas on the other side, control room, it showed that everything was working normally by replaying recordings that were considered good by the controllers of the plant (Shamah, 2013). In his writing, Kelly further asserts that the main intention of the introduction of the warm was not to do away with the centrifuges, but to reduce their lifetime. According to Kelly, the U.S. and Israel unleashed the second variation only after some few years. They unleashed it not only because it was undetected, but also because they also wanted to attack the centrifuges as well as replicate the virus all types of computers. Thus, it is the knowledge of a second virus that led to the detection of the first version of Stuxnet.

A Description of New England Essay Example | Topics and Well Written Essays - 1750 words

A Description of New England - Essay Example Nationalism remains an important issue in the modern United States. In the contemporary United States, nationalists usually hold significant veneration of the flag of the United States and other national symbols, while other cultures tend to regard this mentality with hostility, giving rise to anti-Americanism. Although the United States is usually regarded as a nation-state, supporters of American exceptionalism may prefer to see it as a state bathed in the glory of its own unique light. The country clearly has a sense of national identity and history, Americans refer to an American people. Thus, patriotism is prominent in public life. Nationalism is the appropriate and recognized term for the associated ideology and political movements, within the present United States, and during its history. That does not necessarily correspond with current usage of the term in American politics, or with the views of self-described American nationalists. There are no two same theories about when the United States became a nation-state, and developed a sense of national identity. Some historians think that the United States was already a nation-state at independence, others that this occurred during the 19th century, either before or after the American Civil War. In essence, the new world discovered by Christopher Columbus in 1492, led to a new start for people’s lives in America for centuries to come. America today is still referred to as the land of dreams, but over three hundred years ago that phrase had much more meaning to the people. A few people would travel across the Atlantic in search of Asia to establish faster trade routes, later some would travel to the new world to find riches, and than even more would travel for freedom.

Impact of foreign exchange rate on stock returns Dissertation

Impact of foreign exchange rate on stock returns - Dissertation Example Table 1 reports the results of Augmented Dickey Fuller test of unit root for the stock indices and exchange rates of both the UK and Pakistan. The test has further been applied at different levels as well as in the first difference form. The findings will be reported in terms of each country starting with the UK first then Pakistan. Both the ADF and regression results will be presented for the country indices and then for each of the companies. This chapter is divided into several parts with the main parts comprising study findings for the UK (both ADF test and regression), study findings from Pakistan (ADF and regression), and finally the analysis section where these findings are discussed and analyzed. 5.2 Findings (UK) Augmented Dickey Fuller (ADF) Test Table 1 below presents ADF results for UK companies and GBP/USD rate. As is evident in the table, the results include the FTSE 100 index and ten major companies operating in the UK. Table 2 provides the findings of the ADF test for the national exchange rate (EX) of the GBP against the GBP. Table 1: Augmented Dickey Fuller test (UK companies and FTSE 100 Index) Augmented Dickey fuller (ADF) test (UK companies and FTSE 100 Index) Index + companies S= Index value/ stock price Critical values of 1%, 5%, 10% at Level ?S= 1st difference Critical values at 1%, 5%, 10% for ?S FTSE 100 -2.250374 -3.486064 -2.885863 -2.579818 -10.25769 -2.584707 -1.943563 -1.614927 Antofagasta -3.066955 -4.036983 -3.448021 -3.149135 -12.97182 -2.584707 -1.943563 -1.614927 Babdock -1.747700 -4.036983 -3.448021 -3.149135 -10.71888 -3.486551 -2.886074 -2.579931 HSBC Holdings -2.867695 -3.486064 -2.885863 -2.579818 -10.42942 -2.584707 -1.943563 -1.614927 Imperial tobacco -2.160689 -4.036983 -3.448021 -3.149135 -11.17921 -2.584707 -1.943563 -1.614927 Johnson matthey -2.543982 -4.036983 -3.448021 -3.149135 -10.41562 -2.584707 -1.943563 -1.614927 Meggit 0.828451 -2.584539 -1.943540 -1.614941 -11.56089 -2.584707 -1.943563 -1.614927 Morrison - 2.901854 -4.036983 -3.448021 -3.149135 -11.50647 -2.584707 -1.943563 -1.614927 Pearson plc -1.841245 -4.036983 -3.448021 -3.149135 -12.55195 -3.486551 -2.886074 -2.579931 Standard chartered bank -1.868623 -3.486064 -2.885863 -2.579818 -10.62130 -2.584707 -1.943563 -1.614927 Weir group -1.782673 -4.036983 -3.448021 -3.149135 -9.851895 -2.584707 -1.943563 -1.614927 Table 2: Augmented Dickey fuller (ADF) test (GBP/USD) Augmented Dickey fuller (ADF) test (GBP/USD) Currency X= Exchange rate Critical values of 1%, 5%, 10% at Level ?X= 1st difference Critical values at 1%, 5%, 10% for ?X GBP/USD -2.046301 -4.036983 -3.448021 -3.149135 -9.755815 -2.584707 -1.943563 -1.614927 According to the findings of the study, the ADF test results for the FTSE 100 index show that FTSE statistic value does not exceed the critical values at the 1%, 5%, and 10% critical levels. Therefore, the null hypothesis of the unit root for the index

Outsourcing as a strategic tool Lab Report Example | Topics and Well Written Essays - 1500 words

Outsourcing as a strategic tool - Lab Report Example Past organizations still hire service providers to handle diverse business functions. But now many organizations prefer to outsource whole operations to another company or firm. These outsourcing companies are most commonly known as Business Process Outsourcing (BPO) and Information Technology Outsourcing (ITO)†. BPO includes outsourcinng of human resource, call center, finance and accounting and even processing activities. Payroll administration, recruitment, training and selection of employees etc are the major human resource jobs outsourced. The countries mostly involvd in outsourcing are the US, Europe and Japan while the countries that fulfill these outsourcing jobs are mainly developing countries like India and China. The jobs that any organization generally outsources are data entry jobs, technical support staff, customer service jobs, accounting or financial jobs and writing jobs which usually consist of proofreading and copywriting. To identify jobs or functions that are outsourced, three organizations in three different sectors are taken into consideration- Bank of America from the financial industry, Microsoft from the IT industry and Ford Motor from the automobile industry. Bank of America: The Bank of America, which is one of the largest banks in the country, is a public company in the financial sector. The Bank of America has adopted outsourcing as a method or tool to meet its strategic goals. This bank first outsourced its IT department and gave its network operation to EDS in India in order to reduce its cost of labour because â€Å"a recent study found employees in the U.S. and Europe cost $150,000 a year in salary, benefits and other costs such as real estate. The same jobs can be done in India or somewhere else for $50,000† (Smith 2007, para. 4). Later, the Bank of America outsourced its BPO services to Accenture. The BPO services outsourced by the Bank of America mainly include human resource jobs, which are mainly carried out in the states of Hyderabad, Gurgaon and Mumbai in India. â€Å"Bank of America signed a 10-year contract with Exult Inc. to manage much of the bank’s HR function† (Noe et al. 2007, p. 46). The Bank of America had open ed two outsourcing centres in India, the first being located at Hyderabad, was established in mid 2004. It has become a grand success for them than they opened the other one in Mumbai. The bank also deals with the method of offshore insourcing for which it had opened a center as a wholly owned subsidiary in another country. One such example is its subsidiary in Hyderabad, India which was set up in 1960 with a strategy of expanding its business. Due to the success of the Hyderabad branch, three more branches were opened in India. The bank of America also signed a collaborative outsourcing agreement with JLL and TCC with respect to providing real estate services to the bank which is an instance of domestic outsourcing. â€Å"The new contract with JLL and TCC consolidates Bank of America's real estate service providers from five to two† (Lyne 2001, para. 3). Microsoft: Microsoft, a public multinational corporation in America, is the most prominent business in the IT industry. Mi crosoft leads the industry by introducing new technologies and providing a wide range of services. Outsourcing is a major technique adopted by Microsoft in its development. Microsoft has adopted outsourcing techniques in various fields. An example of such an activity is the outsourcing

Electrolytes disorders, hyperkalemia, hypercalcemia, and Research Paper

Electrolytes disorders, hyperkalemia, hypercalcemia, and hpyernatremia, and how they effect our body system - Research Paper Example But any changes in the ECF can have an indirect impact on the composition of intracellular fluid. Electrolyte can be defined as substances that acquire an electrical charge when dissolved in water (Mehtheny 2000). Majority of the body electrolytes include sodium, potassium, calcium chloride and bicarbonate. Each of these electrolytes exhibit different chemical properties. Some of these electrolytes such as sodium, potassium and calcium attain positive charge whereas the latter two electrolytes have a negative charge on them. This is crucial in identifying their properties and calculating anion gaps discussed later. Each of these electrolytes has their unique functions and any changes in their normal concentration in the body fluids can have a significant effect on the functions of different organs of the body. There is some difference in the concentration of different electrolytes in ECF and ICF. The major electrolytes present in the ECF include sodium and chloride. ICF on the other side has potassium as its major electrolyte. Hyperkalemia: Hyperkalemia is a state where plasma concentration of potassium ions exceeds the normal upper limit of 5.0 mmol/L. As mentioned earlier potassium is a major cation of the intra cellular fluid. The normal range of extracellular concentration of potassium is about 3.5-5.0 mmol/L whereas the intracellular concentration may rise upto150mmol/L (Braunwald et al 2008). Potassium is mostly contained within the cells so that it does not have any effect on the outside fluids. But any pathological conditions whereby cell destruction causes the leakage of potassium ions into the ECF may cause hyperkalemia (Schrier 2003). This phenomenon is known as cellular redistribution. Disease conditions such as rhabdomyolysis, trauma and hypothermia are few examples that compromise the ability of the cell to withhold potassium within its membranes. Other causes of hyperkalemia include drug induced hyperkalemia and renal failure. Succinylcholine and Thalidomide are more common drugs that are known to cause hyperkalemia. Decrease renal excretion of potassium as a result of renal failure is also known to raise the potassium levels in the blood. Excess dietary intake of potassium is rarely a cause for hyperkalemia due to body’s adaptive mechanism known as potassium adaptation whereby excess is efficiently excreted by the kidneys and other mechanisms. This increase in the potassium levels clinically manifest in the excitable tissues. Therefore, paresthesias and muscular fasciculation of both limbs are the earlier manifestation of hyperkalemia. It is due to increase duration of polarization as a result of excessive potassium ions partially depolarizing the cell membranes. Heart is arguably the most important organ affected by the disturbance in potassium concentration. Cardiac toxicity of potassium can be evident on the ECG in the form of elevated or peaked T wave (Schrier 2003). Other important impact of hyperkalemia is on the kidneys where it inhibits the reabsorption of NH4+ contributing to metabolic acidosis which further exacerbates hyperkalemia by redistributing the potassium ions out of the cells (Braunwald 2008). Hypercalcemia: Calcium is an important electrolyte that is required in many signaling pathways of neurons. It is also an important constituent of bones and is essential for their strength. There are many other crucial roles that are played by calcium so it is

The Portrait Of Christ Essay Example | Topics and Well Written Essays - 2000 words

The Portrait Of Christ - Essay Example They want a straight message that is verifiable by evidence and testimonials. America is a complex society, with many educated and globally-aware citizens suffering just as much stress as those who are struggling on welfare or homeless, single parents or factory workers. Therefore, any message, in order to be relevant in such a complex society, will need to make people feel like there is a way out of stress, that there is hope. Americans are concerned about nuclear threat, terrorism, discrimination, financial stability, safety, pollution, cholesterol, the ozone layer, global warming, therapeutic issues, and a whole variety of threats. Consequently, Americans are a bit on the defensive side, meaning that they need to be approached gently, not further threatened. A fifth element that characterizes Americans is their friendliness, their outgoing style and willingness to help others, to share resources, so long as they are not taken undue advantage of. These five characteristics shape my argument for why the Gospel of John has such a compelling message and delivery style for Americans at the beginning of the 21st century. Mark’s portrait of Christ emphasizes his suffering and how believers share in his suffering. This is a portrait that Americans can relate to at times because, like everyone else, Americans are subject to the death and loss of friends and family members, housing foreclosures, cancer and other health problems, parenting issues, incidents with traumatic consequences.

Electrolytes disorders, hyperkalemia, hypercalcemia, and Research Paper

Electrolytes disorders, hyperkalemia, hypercalcemia, and hpyernatremia, and how they effect our body system - Research Paper Example But any changes in the ECF can have an indirect impact on the composition of intracellular fluid. Electrolyte can be defined as substances that acquire an electrical charge when dissolved in water (Mehtheny 2000). Majority of the body electrolytes include sodium, potassium, calcium chloride and bicarbonate. Each of these electrolytes exhibit different chemical properties. Some of these electrolytes such as sodium, potassium and calcium attain positive charge whereas the latter two electrolytes have a negative charge on them. This is crucial in identifying their properties and calculating anion gaps discussed later. Each of these electrolytes has their unique functions and any changes in their normal concentration in the body fluids can have a significant effect on the functions of different organs of the body. There is some difference in the concentration of different electrolytes in ECF and ICF. The major electrolytes present in the ECF include sodium and chloride. ICF on the other side has potassium as its major electrolyte. Hyperkalemia: Hyperkalemia is a state where plasma concentration of potassium ions exceeds the normal upper limit of 5.0 mmol/L. As mentioned earlier potassium is a major cation of the intra cellular fluid. The normal range of extracellular concentration of potassium is about 3.5-5.0 mmol/L whereas the intracellular concentration may rise upto150mmol/L (Braunwald et al 2008). Potassium is mostly contained within the cells so that it does not have any effect on the outside fluids. But any pathological conditions whereby cell destruction causes the leakage of potassium ions into the ECF may cause hyperkalemia (Schrier 2003). This phenomenon is known as cellular redistribution. Disease conditions such as rhabdomyolysis, trauma and hypothermia are few examples that compromise the ability of the cell to withhold potassium within its membranes. Other causes of hyperkalemia include drug induced hyperkalemia and renal failure. Succinylcholine and Thalidomide are more common drugs that are known to cause hyperkalemia. Decrease renal excretion of potassium as a result of renal failure is also known to raise the potassium levels in the blood. Excess dietary intake of potassium is rarely a cause for hyperkalemia due to body’s adaptive mechanism known as potassium adaptation whereby excess is efficiently excreted by the kidneys and other mechanisms. This increase in the potassium levels clinically manifest in the excitable tissues. Therefore, paresthesias and muscular fasciculation of both limbs are the earlier manifestation of hyperkalemia. It is due to increase duration of polarization as a result of excessive potassium ions partially depolarizing the cell membranes. Heart is arguably the most important organ affected by the disturbance in potassium concentration. Cardiac toxicity of potassium can be evident on the ECG in the form of elevated or peaked T wave (Schrier 2003). Other important impact of hyperkalemia is on the kidneys where it inhibits the reabsorption of NH4+ contributing to metabolic acidosis which further exacerbates hyperkalemia by redistributing the potassium ions out of the cells (Braunwald 2008). Hypercalcemia: Calcium is an important electrolyte that is required in many signaling pathways of neurons. It is also an important constituent of bones and is essential for their strength. There are many other crucial roles that are played by calcium so it is

The Muslim women are in the western world Essay

The Muslim women are in the western world - Essay Example This essay is based on my own cultural background. It will explore the reasons for honour killing. There are female artists in the West who have used the idea honour killing in their works. Artist, Hayv Kahraman’s work becomes significant because it represents the state of women who are exploited and abused. Women’s position is such that they are caught between what Islam preaches and what the cultural dictates. This is because, Asian families expose their daughters to the western culture; daughters are not given the same life chances and opportunities as sons. The Muslim children are left perplexed and confused and left to cope with this form of sexism. First generation Muslim women were forced to marry at a younger age: a time when they did not realize the need for emotional, physical or economical dependence, they were married off. It is a disturbing notion that women from several so-called Islamic households are only seen as somebody’s possession, who are giv en away at the time of marriage. While sons carry on the family name, hence they are given more importance in a family structure. A prevalent backward custom practiced by most parents is to keep daughters at home who may or may not dishonor the family’s name; they are not proponent to invest in their daughters’ well-being and instead consider it a waste of money eventually women are not encouraged to pursue their aspirations. They are believed to have only three roles - to be a dutiful wife, bear children, and serve her family. Times have changed; education is making a difference for the generation of today, letting women decide their own good. However, the education system propagates the western culture which is in direct contradiction with the ways of the East. Parents are not willing to accept that their daughters and sons have equal rights according to Islam. As a result, women feel the need to abandon their own Islamic beliefs and adopt those of the west. A Muslim woman’s position is such that she is helpless and cannot escape subjugation. Honor killings are committed if a woman is seen associating with the opposite sex she is assumed to put the family name to disgrace and is sentenced to death at the hands of her own family. The height of this injustice is such that women are the only ones who bear the burn of the honor killing. This essay will explore Hayv Kahraman’s works, which is rooted in the social context of Iraq’s Islamic society. She has managed to experiment with the ide a of honor killings and incorporate it into her work. Her work shows the reality of the honor killings in a subtle way, and also questions the justification of such acts from the world outside. The isolated and hidden nature of honor killings and other such injustices against women are perpetual in patriarchal society. It is an important investigation since it helps highlight the idea of such crimes with formal and aesthetic concerns. Main Body In a traditional society, men are thought to believe that women are an â€Å"object owned by the man who assumes responsibility for her behavior and her life† [Mirza, 2005]. Women are expected to meet the demands of their father, brother or husband and should be forcefully domesticated. Since Islam gives importance to husband and their well-being, women are made to believe that their sole purpose is to fulfil the wishes of her husband or she will not enter paradise. However, the same men who live by this rule of thumb forget that the v ery same religion has given women far more important rights to remember and practice. For example, â€Å"the role of mother is given a higher status in Islam, the Prophet said that Paradise lies under a mother’s feet† [Unknown, 2007]. In Islam women have property rights and the rights to own wealth, to work, to get an education, to run a business and have the freedom to choose who to marry. However, at home, parents make justifications for the way they treat their daughters. Sons are seen as the

Reward systems at heritage le telfair

Reward systems at heritage le telfair Tourism industry is a heavy dependent of human interaction, including employees (Baum, 1993; Davidson, 2003). Go et al., (1996) argue that the of products or experiences quality relies on competent, committed, and satisfied hospitality staff. Subsequently, numerous studies have demonstrated a positive correlation between employee satisfaction and customer satisfaction (Schmitt and Allscheid, 1995; Schneider et al., 1998; Ulrich, et al., 1991; Wiley, 1991) cited in Jing and Avery (2008). Hence, to ensure job satisfaction the appropriate reward mechanism needs to be adopted (Danish and Usman, 2010; Bai et al., 2006). Rewards play an important role in organizations today: they influence a variety of work-related behaviour (Eastaugh, 2002; Helmer et al., 1988) and as well as the motivation of employees (Nayeri et al, 2005). Reward can be defined as the benefit derived from performing a task, rendering a service or discharging a responsibility (Pitts, 1995; Silbert, 2005). Thus, this conceptual analysis aims at reviewing clear definitions of reward systems (Lawler, 1993; Herzberg, 1966) and its structure (Bartol and Srivastava, 2002). Light will also be shed on the development of reward systems by Zhou et al., (2009), its objectives by Lawler (1993), and the total reward system (Armstrong, 2006). Furthermore, the literature sets out the prominent reward practices of the hospitality industry argued by a myriad of authors, lists the tools to determine reward effectiveness (e-reward, 2009) and finally analyse the perceptions of managers and employees on rewards by Nelson, 2003; Perkins, 2007, among oth ers. 2.1 REWARD SYSTEMS Reward Systems are a critical part of any organisations design. The way in which they fit with its other systems will determine the latters effectiveness and the quality of life of its employees (Lawler 1993, p.2). Reward systems refer to the intrinsic and extrinsic benefits that workers receive from their jobs (Herzberg 1966; Katz and Van Mannan, 1977). Moreover, Byars and Rue (1997) define reward systems as being all the returns employees receive as a result of the employment by their organization, monetary as well as non-monetary. In contrast, Armstrong, (2006) incorporates the element of effective reward management in order to benefit both people and organisation in his definition. 2.1.1 STRUCTURE AND COMPONENTS OF REWARD SYSTEMS According to Bartol and Srivastava, (2002) and Grawitch et al., (2007, p.3), rewards could range from: Monetary and; Non-monetary incentives In addition further research by De Cenzo et al. (1996) has been agreed by Bartol and Srivastava, (2002) on the categorisation of rewards as being intrinsic and extrinsic (depicted in figure 2.1.1). Figure 2.1.1: Reward Structure-Source: De Cenzo et al., 1996 2.2 DEVELOPMENT OF REWARD SYSTEMS Attesting that reward development has experienced five phases, Zhou et al (2009) summed up the relevant records in table 2.2a. Table 2.2a: The Five Phases of Reward-Source: Zhou et al, 2009 To provide a historical glimpse, another version on the development of reward systems-figure 2.2b-has been compiled from Shermon, 2004; World at work, 2007; AWLP, 2006. Figure 2.2b: Brief Overview the Evolution of Reward Systems Source: Adapted from Shermon, 2004, World at work, 2007, and AWLP, 2006 2.3 OBJECTIVES OF REWARD SYSTEMS Every hospitality industry employer wants to recoup back investment on its employees (Glenn, 2006). Traditionally, the purpose of reward systems is to monetarily reward desirable behaviour (Bartol and Srivastava 2002; Rajagopalan and Finkelstein 1992). But, further research suggests that there are other objectives which potentially can impact organization effectiveness (Lawler, 1993). 1. Attraction and Retention Enz (2009) affirms that attraction and retention are among the main HR areas of concern in the hospitality industry. A firms reward system can influence employees desire to stay in the company-as demonstrated by Bamberger and Meshoulam, 2000 and MacDuffie, 1995. Similarly, Gerhart and Milkovich, (1992) are convinced that organisations which give the most rewards tend to attract and retain most people. However, owing to its poor image in terms of remuneration and working conditions (Baum, 2007; Kusluvan and Kusluvan, 2000), the hospitality sector has lost its ability to attract and retain skilled staff compared to other sectors (Christensen Hughes, 2002; Lucas and Jeffries, 1991; Barron, 2008). On a serious note Terry and Lam (2000) cited in Chellen and Nunkoo (2010) warns that if hotels want to survive in todays highly competitive arena, they earnestly need to attract and retain quality employees. Though not being a panacea, to facilitate organisational commitment to employees has be en the idea proposed by Dawson and Abbott (2009) with the aim of a positive relationship with attraction and retention of these employees 2. Motivation of Performance Wagner (1990) claims that a primary concern in the design of reward systems is how well the plan will work in motivating employees. Responding to this, the works of Gerhart and Milkovich, 1992; Lawler, 1971, 1990; Bamberger and Meshoulam, 2000, MacDuffie, 1995 have proved that reward systems have been demonstrated to motivate performance under certain specifiable conditions. Simons and Enz (1995) research translated that hotel employees viewed bonuses associated to guest-satisfaction scores as an opportunity for motivation. Affirmatively, Torrington et al, (2009, p. 162) and Rabey (2000) allege that expectancy theorys advocates and behavioural sciences believe that employees will work harder if rewards are attached. Nonetheless, (Luthans and stajkovik, 1999) contest that there are a few who challenges the above perspectives. Such a scholar is Kohn, (1993), who concur that any incentive system makes people less enthusiastic, hence, less committed to excellence to their work. Notwithst anding with the above views, Chopin et al., (1995) have found that compensation depends on firm size and performance 3. Skills and Knowledge Just as reward systems can motivate performance they can motivate skill development by tying rewards to it (Lawler, 1996b). Jamison and OMara, 1991 and Pfeffer, 1998 explain that healthy work programmes are those which provide employees with the opportunity to increase and apply their knowledge and skills to different situations. Indeed, Kilik and Okumus (2005) ascertained that education and training were associated with productivity in hotels. Also, there has proved to be a positive relationship between training and employee retention, as reported by Dearden et al. (1996); Umiker (1994); and Blundell et al., (1996). However, being reputed for its high labour turnover culture (Denvir and McMahon, 1992; Deery, 1999; Tracey and Hinkin, 2006; Pizam and Thornburg, 2000; Rowley and Purcell, 2001; Lo and Lamm, 2005), the hospitality industry faces a lot of educational investment loss when training was provided to those leaving employees (Kang and Gould, 2002, Iverson and Deery, 1997; Rowle y and Purcell, 2001; Jenkins, 2001). 4. Culture Kerr and Slocum (2005) are among the advocates of the approach that the reward system can be a powerful means for influencing an organisations corporate culture. This is because of their important influence on communication, motivation, satisfaction, and membership (Lawler, 1998). Going a step further and in accordance with Brewster (1995); Bellenger et al, (1984); MilikiĆ¡ (2007); and Nacinovic et al., (2010), Lawler (1998) suggests that pay systems can help to change culture. As a deduction, Bauer and Erdogan (2009) admit that which behaviours are rewarded and punished determine the progression of a companys culture. Tracey and Hinkin (2000); and Davies et al., (2001) propose that increased wages and improved management practices such as increase staff motivation, commitment, flexibility and the quality of employees within an organisation could be efficient tools to remedy for the labour turnover culture in the hotel industry. However, Buultjens et al., (2007) emphasise o n the fact that hospitality businesses should adopt a more strategic approach to reward and monitor its effectiveness. 2.4 THE TOTAL REWARD SYSTEM The time when reward was only about cash and when people worked only for money, has nearly reached, if not yet, its extinction (Thompson, 2002; Phonsanam, 2010; Silverman, 2003; Schuster and Zingheim, 2000). Gao (2009) states that hoteliers have shifted from traditional to total reward systems. Simply defined, Total Rewards are the monetary and non-monetary return provided to employees in exchange for their time, efforts and results (Worldatwork, 2007). Alternatively, Zingheim and Schuster (2000) suggest that the new concept of total rewards comprise four total reward components as depicted in figure 2.4a. Figure 2.4a: Total Rewards-Source: Zingheim and Schuster, 2000 For the purpose of this study, the below model has been derived from the extensive list of total rewards provided by Worldatwork (2007) (Find in Appendix) which will be used to categorise Heritage Le Telfair Golf and Spa Resorts reward model. Figure 2.4b: TOTAL REWARD MODEL Source: Adapted from: Total Rewards: Different things to different employers Worldatwork (2007) A summary of the components found in the TR system with specific reference to the hospitality industry brought the classification of some points (Refer to Appendix B) The justification to adopt a total reward approach might be because it improves job satisfaction, work efficiencies, job performances, psychological contract and organizational citizenship behaviours (Zhou et al., 2009). Pessimistically, Kantor and Kao (2004) attributes to HR professionals of feeling confused or sensing chaos regarding TR thus contributing to the poor, complex and risky development and execution of TR (Thompson, 2002) leading to counter productivity and resource wastage (Albertson, 2000). Ergo, an advice would be that all pay components should be aligned complementarily and that the TR strategy should be derived from business strategy and, most importantly, be communicated to all employees, (Lyons and Ben-Ora, 2002; Gilbert and Cornish, 2005). 2.5 REWARD PRACTICES IN THE HOSPITALITY SECTOR 2.5.1. MYTH OR REALITY? Stereotype thinking has been revealed to be that the tourism and hospitality sector offers low pay, very little training and career prospects, limited scope for promotion, and unsociable working hours (WTTC, 2002a; HTF, 2000; Walmsley, 2004). Nickson (2007) also narrates the same facts but he associates this situation to the endemicity of unskilled or semi-skilled employees in the hospitality sector. 2.5.1.1 Low Pay Recurring evidence shows that that the compensation of regular employees of the hospitality is averagely lower comparatively to other sectors (Deery and Shaw, 1999; Hoel and Einarsen 2003; ABS, 2006a; Baum, 2007; Lucas and Jeffries, 1991; Tracey and Hinkin, 2000;; Worcester, 1999). However, hotels and restaurant recruiters are reporting that subject to the growth of the industry employers are increasingly offering attractive recruitment packages to attract the right staff (Wilson, 1999; HCIMA, 2010). Furthermore, wages in hospitality is on a rising trend owing to an increase in minimum wage (Clarke and Chen, 2007; McManus et al., 2011). Yet, Baram (2008) reports that minimum wage raise is not enough to survive in a high cost of living economy. 2.5.1.2 Unsociable Working Hours The hospitality sector requires employees to work relatively long hours (Pratten, 2003; Baum et al., 1997; Kelley-Patterson and George, 2001; OLeary and Deegan, 2005; Wallace, 2003; Lo and Lamm, 2005; Baum, 2006; Karatepe and Uludog, 2007 and Wong and Ko, 2009; Birdir, 2002) which deter a good work life balance. Further contributing to the black list, this sector is also associated to high-burn out service jobs (Maxwell; Faulkner and Patiar, 1997). Astonishingly, we have not come across any studies which sing the praises of working hours in the hospitality sector. It can thus be deduced that the hospitality workplace will fit only those who love the job environment and working night shifts that Barrons et al., 2007 study concluded. 2.5.1.3 Limited Training The EFILWC (2004) and STB (2002) stress that training is viewed as interesting by both employers and employees but is not the priority due to time and money constraint. Jameson, 2000; Dawson, 2006; Roberts 1995; Pratten, 2003; Lucas, 2002; Maxwell et al., 2004; Choe and Dickson, 2010 and Cairncross and Buultjens, 2007 also ratify the lack of investment in training. Indeed, Sigala et al., (2001) and Lashley and Best (2002) affiliate this with the high labour turnover in the industry. Howbeit, employers who admit that employee training has become preponderant for hotels, gain from improved service quality, decreased labour costs, increased productivity and profitability, high retention (Kim, 2006). Such companies are Ritz Carlton which provides its employees with 200 hours of training each year (Snell and Bohlander, 2010), Choice Hotels International, Coastal Hotel Group, Four Seasons Regent Hotels and Resorts, and Disneys Polynesian Resort (Enz and Siguaw, 2000). 2.5.1.4 Limited scope for promotion and career prospects In accordance with Getz, 1994; Hjalager and Andersen, 2001 and Page et al., 2001, Walmsleys (2004) exact words for tourism jobs are lacking in a clear career structure. Furthermore, various studies have shown that the hospitality sector is not a career option but rather a refuge sector. (Szivas and Riley, 1999; Riley et al., 2002; Wildes, 2007). Wright and Pollert (2006) also talk about an inhibitation of promotion of employees in hotels. Though, Hai-yans and Baums (2006) survey findings revealed that a majority of 68.1% envisage their future within the hotel sector, the other facet of the research is that nearly half of the staff feel uncertain about their hotel career and whine about promotion opportunities. Regardless of the above, Visit Scotland/George Street Research, (2002) and Wilson (1999) found that careers in the industry were in fact considered challenging and interesting. 2.5.2 FINANCIAL REWARDS Financial reward are rewards that enhance directly the financial well-being of the employee Chelladurai, (2006) and consists of base and variable pay, employee benefits and allowances (Armstrong, 2002). In an effort to develop a comprehensive understanding of the remuneration in the hotel sector, Mars and Mitchell (1974, p.27) and Wood (1994, 1997) suggested that payment to hotel employees from the perspective of a total payment system is comprised of basic pay ,subsidized food and lodging, tips, fiddles and knock offs. Base pay Base pay is a crucial component of any individuals total pay, and is used as a tool by many employers to attract talent (Sturman, 2006; Walker and Miller, 2008; Saks et al., 1996). Basic pay is the rate of pay which notionally reflects the market value for a job in an organisation (Heery and Noon, 2001). By far, many studies discerned that wages were preponderant and powerful motivational factors among hospitality employees (Simons and Enz 1995; Griffin and Moorhead, 2009; Blinder, 1990; Lawler, 1991e). Nevertheless, as Milkovich and Newman, 1990 expressed, pay is only one attribute among many others in attracting candidates. Pay for Performance Plans Most hospitality businesses are currently using some form of pay-for-performance compensation (Berman, 2010). Pay for performance has often been viewed as a norm of distributive justice by Campbell et al., (1998). UNISON (2001) highlights that the most common types of performance pay are piecework, payment by result, organisation wide incentives, merit pay, performance- related pay, competence based pay, profit related pay. When pay advancement is based upon an assessment of individual performance, against pre-established objectives, it can be referred to as performance related pay (Egan, 2010; Tanke, 2000). Nonetheless, when employees receive permanent pay increases based upon individual performance assessments, this can be referred to as merit pay (Heneman and Werner, 2005; Park and Sturman, 2009). Indeed, research evidence clearly supports that pay-for-performance plans have been found to help achieve desired results, at both the individual level (Bonner and Sprinkle, 2002; Gerhart and Milkovich, 1990; Heneman and Werner, 2005; Lawler, 1971, 1981; 1992; Schwab and Olson, 1990) and organizational level (Gerhart and Milkovich, 1990; Gomez-Mejia and Welbourne, 1988; Lawler, 1981). In contrast Hayes and Ninemeier (2009) avow that hospitality managers disagree that pay should be linked to individual performance as this has proved unbeneficial to teamwork. Many other counteracting studies divulged that PFP plans do not always affect performance (Heneman and Werner, 2005; Kahn and Sherer, 1990; Kuvaas, 2006; Pearce et al., 1985; Rynes et al., 2004 and Benson and Brown 2000) and does not really lead to motivation (Marsden and Richardson, 1994; Harris, 2001). Furthermore, PFP has been categorised as being subject to favouritism, personal bias, and deliberate distortion (Pfeffer, 1998; Milkovich and Boudreau, 1991; Campbell et al., 1998) and as an anxiety generator among employees (Bassett, 1994). Thus, the minimum requirement for the proper functioning of PFP should be, as Kessler (1994) says agreeable to employees. Tipping Tipping is a common practice in the hotel industry and is a considerable source of revenue for service employees (Lynn, 2003; Azar, 2004). Lynn (2001) defines tipping as an economic payment that occurs in the context of a commercial exchange thereby encouraging many hotel managers to view it as a useful management tool. Ogbonna and Harris (2002) perceive tipping as an effective way to control employee behaviour and wage cost, and a potential path towards organizational profitability, whilst Lynn (2001) distinguishes tipping as a tool to measure customer satisfaction and servers performance. Also, tips represent an opportunity for workers to supplement low pay level (Wood, 1992). It is commonly believed that there is a relationship between service quality and tip size (Lynn and Graves, 1996; Conlin et al., 2003). However, empirical research examining this relationship found it to be insignificant (Lynn and Graves, 1996; Lynn and McCall, 2000; Lynn 2001; Azar, 2003a). As such, tipping is an investment for future good service and deters reduced attention (Pearson, 2010; Bodvarsson and Gibson, 1999; Lynn and Withiam, 2008; Lynn and Thomas-Haysbert, 2003). Azar (2007b) strictly disputes this and notes that future service is not dependent on tipping. Consequently, Casey (2008) warns service managers not to count on tipping to motivate staff to provide good service as researchers have found tipping negatively effects employee commitment. Withal, Wood (1992); Lucas, (1996); and Shamir, (1983) criticise this practice as research has demonstrated that tipping can bring perturbation, increase competition and individualism, and overdependence on customers among workers at the workplace. Williams et al. (2004) identified that the collection and distribution of tips method was also customary by managers. 2.6 NON-FINANCIAL REWARDS FOR EMPLOYEES Direct financial rewards albeit play a central role in the attraction of talented employees, it has been proved that they trail only a short-term impact on employees motivational levels (Ellis and Pennington, 2004; Samodien, 2004). This is where non-financial reward programs come in handy. They are in fact tied to the quantity and quality of individual performance to generate greatest impact on improving overall business value (Stolovitch et al., 2002). Non financial rewards, according to De cenzo and Robbins, (1994, p.413), emphasise on making life easier on the job more attractive. According to Armstrong (2002) it includes of recognition, achievement and responsibility. Non-Financial Recognition (NFR) I can live for two months on a good compliment. Mark Twain According to Moody (2008, p. 277), non-financial compensation is defined as satisfaction that a person receives from the job itself or from the psychological and/or physical environment in which the person works. Recognition forms an indispensible part of the total reward system of a company (Dessler, 2009; Human Capital Institute, 2009). Recognition typically relates to formally recognising employees accomplishment to strengthen employee loyalty, intrinsic motivation and productivity (Aamodt 2007; Dessler 2009; Marchington and Wilkinson 2008; Blum and Tremarco, 2008). Liu (2010) expresses that NFR can convey the message on the type of performance that the organisation expects from them to other employees Silverman (2004) and Human Capital Institute (2009) clarify that the NFR schemes may vary from informal to formal structures (See figure 2.6.3 a) Figure 2.6a: A dissection of Non-financial Recognition Schuster and Zingheim (2000) categorise recognition as being verbal, written, work related, social, symbolic, tangible, and financial. According to an employee recognition survey carried out in 2002, 84 percent of the responding 391 companies had the following forms of recognition: Note: Total adds more to 100% because respondents were asked to indicate all that apply. Gift Certificates 63% Other 31% Cash 58% Watches 28% Office accessories 41% Electronics 24% Jewellery 40% Travel 14% Household items 35% Debit cards 6% Table 2.6b: Employee Recognition survey Findings-Source: Compensation and Benefits Report, 2003 Some authors highlight the essential nature of employee recognition as a vector of motivation (Dutton 1998; Appelbaum and Kamal 2000; Saunderson 2004; Grawitch et al., 2006), identity (Dejours, 1993), component of meaningful work (Mow, 1987; Morin, 2001) and company success (Ford and Fina, 2006; Armstrong and Brown 2006; Cilmi 2005; Schuster and Zingheim, 2000). In fact, a lack of recognition embodies the second-largest risk factor for psychical anxiety at work (Brun and Biron et al., 2003) and to high turnover in hospitality industry (Raleigh, 1998). Surprisingly, Nelson (1998) reports that employee recognition might not be beneficial when it becomes annoying to others who have to hear the continuous praises of their colleagues. Moreover, it has been found that traditional forms of recognition such as Achievement Awards, Cash Substitutes, Nominal Gifts or Food, and Public Perks have diminished in importance for most of todays employees (Nelson, 2004). Results from various studies ha ve indicated that indicate that wage increases and cash incentives are important motivational rewards for lower-level employees (Hong et al,. 1995; Arnolds and Venter, 2007). Thus, managers should bear in mind that recognition might not always be appropriate for everybody. Fiddles and Knock-offs Although recruitment, retention, and understaffing issues in hospitality are well documented (Baum, 2002; Brien, 2004; Choi et al., 2000; Gustafson, 2002; Jameson, 2000), there is poor literature dedicated to the issue of fiddles and knock-offs (Jones and Groenenboom, 2002). In addition to tips, some hotel and catering workers might also benefit from Fiddles and Knock-offs (Wood, 1992). Fiddles refers to pilferage that goes on in hotels. Whilst knock-offs is a particular form of fiddle involving the purloining of (usually) small items such as soap and towels, but mostly consisting of stealing food (Mars, 1973; Mars and Nicod 1981). In accordance with Mars and Mitchell (1976) and Nickson (2007) who establish that fiddles and knock-offs are in fact institutionalised in hotels whereby management collude on allowing to a certain extent this practice, Gill et al. (2002) have also stated that small-scale theft of hotel property are tolerated as a form of shrinkage. The reasoning behind mig ht be explained by Hollinger and Clark (1983) who found that employer retraction against theft was inversely related to theft. Despite that, agreement is widespread that theft in the workplace is a serious problem (Greenberg, 2002, Weber et al., 2003) and has proved costly for businesses (McClurg, 2006). Hence, the challenge lies in managements concern in setting parameters beyond which pilferage will not be tolerated (Mars and Mitchell, 1976). Fringe Benefits Heneman and Schwab (1985) defined benefits as indirect pay or payment for time not worked such as health care, retirement account, and insurance. Benefits account for a big portion of the reward package, and employees recognise them as an integral part of their reward package (Gross and Friedman, 2004; Williams et al., 2007). In its simplest forms benefits may include: breakfasts, lunches, dinners and snacks, that the employees and their families can have (Rubis, 2004), free cab rides home after certain times (Oldfield and ODonovan, 2001). Namasivayam and Zhao. (2007) apprised that benefits should be offered to all employees as they found out that benefits had greater positive effects on motivation, retention and job satisfaction on non-managerial employees. Considering the lack of academic research in the field of employee benefits in the hospitality industry, information on employee benefits at three international hotels has been gathered from their respective websites in the table 2.6c. Conversely, Hansen (2005) recur that the cost of employee benefits in the united states is killing profitability for whole sectors. Because of such costs, organisations are increasingly implementing cost containment strategies to lower labour expenses (Lucero and Allen, 1994). The same authors continue to argue that negative repercussions can range from mild dissatisfaction to severe outcomes like outrage, resentment, and anger. Table 2.6c: Examples of Employee Benefits in international hotels THE RITZ CARLTON FOUR SEASONS HOTELS AND RESORTS SHERATON HOTELS AND RESORTS Well-tailored Uniforms Medical, Dental, Vision Coverage Life and Accidental Death Dismemberment Insurance Short and Long Term Disability Health Care and Family Care Spending Accounts Domestic Partner Benefits Vacation, Sick/Personal and Holiday Pay Retirement 401(k) Plan Employee Stock Purchase Plan Employee Assistance Program Educational Assistance Program Employee Discounts on hotel rooms, restaurant outlet meals and retail items Complimentary Employee Meals Complimentary stays at Four Seasons properties with discounted meals Paid holidays / vacation Educational assistance Dental and medical   / disability / life insurance Retirement benefits / pension Employee service awards Annual employee party / social and sporting events Complimentary meals in dedicated employee restaurants Comprehensive, low cost health insurance for employee and family Dental and vision insurance coverage Company-sponsored retirement plans (U.S. 401(k) program) Life Insurance and Disability Insurance Flexible Spending Accounts Employee Stock Purchase Plan Employee Assistance Program Adoption Assistance Domestic Partner eligibility SOURCE: Adapted from: http://corporate.ritzcarlton.com/en/careers/benefits.htm, http://jobs.fourseasons.com/workingatfourseasons/benefits/Pages/fsbenefits.aspx, http://www.starwoodhotels.com/sheraton/careers/offer/benefits.html 2.7 MEASURING THE EFFECTIVENESS OF REWARD SYSTEMS You cannot improve what you cannot measure Lord Kelvin Pfeffer (1998) remarked that there was little devotion in measuring the efficacy of rewards although the design of the reward system loomed much management attention. However, Armstrong et al. (2009) rate the importance of such practice even above the design and execution of rewards. The primordial reasons for measuring reward effectiveness are to apperceive the benefits and impediments of a reward strategy Hodgson (2010) and to discern potential areas for improvement (Armstrong et al. (2009). Yet, Heneman (2002) comments that the evaluation of a reward systems effectiveness remains often overlooked. For instance, reward survey conducted by the CIPD in 2009 showed that only 32 percent of respondents had carried out any form of evaluation. In addition, a survey of reward by e-reward in 2009 established that only a low proportion of 12 percent of respondents had evaluated their performance-related pay schemes. Tools used to carry out the evaluation, according to e-reward (2009a) are: External market survey Staff attitude survey Benchmarking Internal data analysis Equal pay reviews Apparently, simpler methods for such practice do exist. For example, a survey carried out by Edenred concluded that reliance on manager observation, feedback and employee surveys were common for measuring reward effectiveness Hodgson (2010). Other criteria that could be used to measure reward effectiveness include improved performance, compliance with laws and regulations, cost reduction, contribution to strategic plans (Bergmann and Scarpello, 2002); Gomez-Mejia, 1992) and employee attitudes (Ram and Prabhakar, 2010). Hence, hospitality businesses could engage in carrying out such assessments in order to investigate the problem of high labour turnover in the industry. The tendency for overlooking the evaluation of rewards as highlighted by Heneman (2002) can be justified by the following reasons provided by Pfeffer and Sutton (2006): Lack of time and resources to evaluate Bewildering sources of information Lack of training and skills in statistics Laziness Constant change in organisations 2.8 THE GAP BETWEEN HOW MANAGERS REWARD EMPLOYEES AND HOW EMPLOYEES WANT TO BE REWARDED Figure 2.8: What Do Employees Want From Their Jobs?-Sources: Foreman Facts, Labor Relations Institute of NY (1946); Lawrence Lindahl, Personnel Magazine (1949) Repeated with similar results: Ken Kovach (1980); Valerie Wilson, Achievers International (1988) Bob Nelson, Blanchard Training Development (1991) Sheryl Don Grimme, GHR Training Solutions (1997-2001) Most managers feel that all employees want is more money (Nelson, 2003). Research shows there is a wide gap between managers and employees on this issue, as shown in the figure 2.8.1. However, other survey findings revealed new elements which have not been found by the original study in 1996. Thus, the below list has been compiled from various authors survey findings on the subject in hand. Fair (competitive) Compensation (Perkins, 2007) Flexible working hours and time-off from work (Nelson,

A Writers Style Essay -- Writing Style Momaday Essays Papers

  Ã‚  Ã‚  Ã‚  Ã‚  The Pulitzer Prize winning writer N. Scott Momaday has become known as a very distinctive writer who depicts the stories of the Native American life in almost poetic ways. He does an excellent job of transporting the reader from the black and white pages of a book, to a world where every detail is pointed out and every emotion felt when reading one of Momaday’s books or other writings. This style of writing that Momaday uses is very evident in his work â€Å"The Way to Rainy Mountain,† and made even more apparent by reading a review of the book House Made of Dawn found on a web site run by HarperCollins Publishers.   Ã‚  Ã‚  Ã‚  Ã‚  Throughout the essay â€Å"The Way to Rainy Mountain†, Momaday uses very descriptive words, which brings the places he is describing to life in the minds eye. The essay begins with his description of the homelands of his Kiowa people, which has been given the name of Rainy Mountain. The picture painted in the readers mind by these beautiful descriptions makes it easily understandable why the Kiowa people came to settle upon this land as their home. For example, part of the description Momaday gives of the land within the first paragraph is, â€Å"There are green belts along the rivers and creeks, linear groves of hickory and pecan, willow and witch hazel. At a distance in July or August the streaming foliage seems almost to writhe in fire.† (Momaday, 95) I can not help but imagine the trees wavering in a gentle early fall breeze as the yellows and reds seem as if the whole land is burning beneath the fading summer sun. Halfway through the essay he de scribes the Black Hills by saying â€Å"A dark mist lay over the Black Hills and the land was like iron.† (97) He then describes Devil’s Tower in the next sentence by writing â€Å"†¦I caught sight of Devil’s Tower upthrust against the gray sky as if in the birth of time the core of the earth had broken through its crust and the motion of the world was begun.† (97) The way that Momaday describes these breathtaking scenes allows the reader to both see and feel the emotion that these great views evoke. This style of writing is backed up through HarperCollins Publishers online review of Momaday’s book, House Made of Dawn, when it states that â€Å"The world of his grandfather, Francisco—and of Francisco’s fathers before him—is a world of seasonal rhythms, a harsh and beautiful place†¦Ã¢â‚¬  This shows that inside the book House ... ...aw the reader in.   Ã‚  Ã‚  Ã‚  Ã‚  In conclusion, upon looking further into N. Scott Momaday’s style of writing, I have found it to be true that he has developed one of the most sound and beautifully descriptive styles of writing. The way he describes each scene with so much feeling brings the reader in through a very emotional avenue. Also, his style is very strong where he covers the changes of the world and how the Native American people adjust to the many new and different challenges they face. Even though there are a few times when Momaday’s writing can seem sidetracking and misleading, he is still able to bring it all together in the end. This makes for very beautifully well written works with some of the most descriptive scenes I have ever read. I would highly recommend any of Momaday’s writings based off of the knowledge I have gained by examining a few short pieces by him. The stories are great, and the descriptions are powerful enough to leave you breathless. Works Cited Momaday, N. Scott. â€Å"The Way to Rainy Mountain.† Fields of Reading. Ed. Nancy Comley, et al. New York: St. Martin’s Press, 1998. 577-580. Perennial Classics. Ed. HarperCollins Publisher. 26 February 2002 A Writers Style Essay -- Writing Style Momaday Essays Papers   Ã‚  Ã‚  Ã‚  Ã‚  The Pulitzer Prize winning writer N. Scott Momaday has become known as a very distinctive writer who depicts the stories of the Native American life in almost poetic ways. He does an excellent job of transporting the reader from the black and white pages of a book, to a world where every detail is pointed out and every emotion felt when reading one of Momaday’s books or other writings. This style of writing that Momaday uses is very evident in his work â€Å"The Way to Rainy Mountain,† and made even more apparent by reading a review of the book House Made of Dawn found on a web site run by HarperCollins Publishers.   Ã‚  Ã‚  Ã‚  Ã‚  Throughout the essay â€Å"The Way to Rainy Mountain†, Momaday uses very descriptive words, which brings the places he is describing to life in the minds eye. The essay begins with his description of the homelands of his Kiowa people, which has been given the name of Rainy Mountain. The picture painted in the readers mind by these beautiful descriptions makes it easily understandable why the Kiowa people came to settle upon this land as their home. For example, part of the description Momaday gives of the land within the first paragraph is, â€Å"There are green belts along the rivers and creeks, linear groves of hickory and pecan, willow and witch hazel. At a distance in July or August the streaming foliage seems almost to writhe in fire.† (Momaday, 95) I can not help but imagine the trees wavering in a gentle early fall breeze as the yellows and reds seem as if the whole land is burning beneath the fading summer sun. Halfway through the essay he de scribes the Black Hills by saying â€Å"A dark mist lay over the Black Hills and the land was like iron.† (97) He then describes Devil’s Tower in the next sentence by writing â€Å"†¦I caught sight of Devil’s Tower upthrust against the gray sky as if in the birth of time the core of the earth had broken through its crust and the motion of the world was begun.† (97) The way that Momaday describes these breathtaking scenes allows the reader to both see and feel the emotion that these great views evoke. This style of writing is backed up through HarperCollins Publishers online review of Momaday’s book, House Made of Dawn, when it states that â€Å"The world of his grandfather, Francisco—and of Francisco’s fathers before him—is a world of seasonal rhythms, a harsh and beautiful place†¦Ã¢â‚¬  This shows that inside the book House ... ...aw the reader in.   Ã‚  Ã‚  Ã‚  Ã‚  In conclusion, upon looking further into N. Scott Momaday’s style of writing, I have found it to be true that he has developed one of the most sound and beautifully descriptive styles of writing. The way he describes each scene with so much feeling brings the reader in through a very emotional avenue. Also, his style is very strong where he covers the changes of the world and how the Native American people adjust to the many new and different challenges they face. Even though there are a few times when Momaday’s writing can seem sidetracking and misleading, he is still able to bring it all together in the end. This makes for very beautifully well written works with some of the most descriptive scenes I have ever read. I would highly recommend any of Momaday’s writings based off of the knowledge I have gained by examining a few short pieces by him. The stories are great, and the descriptions are powerful enough to leave you breathless. Works Cited Momaday, N. Scott. â€Å"The Way to Rainy Mountain.† Fields of Reading. Ed. Nancy Comley, et al. New York: St. Martin’s Press, 1998. 577-580. Perennial Classics. Ed. HarperCollins Publisher. 26 February 2002