Finc2011 Major Assignment Essay

Executive summary Woolworths Limited (WOW), which is one of the listed companies in Australian Security Exchange (ASX) (ASX 200), is the largest supermarket in Australia (Kruger 2013), it specializes in the groceries, food and retailing (WOOLWORTHS LIMITED (WOW) 2013). The aim of this report is to estimate and determine the dividend growth rate, stock return and current share price of Woolworths. Methods used for the estimation include dividend growth model, Capital Asset Pricing Model (CAPM) and Gordon’s Growth Model. The results of the estimation indicate that the dividend payments will continuous increasing in the future, the return on the company’s assets is reasonable and its share price is expected to rise. In addition, recommendations associated with the investment decision will be provided to the public investors regarding to the risks in the market by comparing with companies within the same industry. However, there are still a number of limitations of the report such as a few assumptions are made for calculations and limitations due to the difference of risk free rate. Calculation of Growth Rate: The approach used to estimate the growth rate (g) for dividend payments of Woolworths is: g = Ploughback Ratio x Return on Equity (ROE) Ploughback Ratio = 1 – Payout Ratio In which, payout ratio refers to the ratio of dividends to earnings per share (EPS) (Brealey, Myers and Allen 2011). Souce: http://www.woolworthslimited.com.au/annualreport/2012/pdf/WW_AR12_Full.pdf Based on the figures above, the growth rate (g) for the 2012 should be: g = (1 – 0.8528) x 0.2722 = 4.01% In order to figure out a more accurate growth rate, the average should be taken from 2008 to 2012. As it is shown in the table, the average g = 7.68%. According to Woolworth’s annual report (2012), the payout ratio is quite stable, despite there is a sudden increase in 2012; hence, we could assume that the dividend payout ratio is constant. Meanwhile, although Woolworths’ Return on Equity (ROE) shows a slight decrease from 2008 to 2012, it is still fairly steady – close to 28%. Since both of two assumptions – constant dividend payout and return on equity – are satisfied (Mellare 2013), g = Ploughback x ROE is suppose to be an appropriate method to estimate the dividend growth rate for Woolworths. Calculation of required return using CAPM Capital Asset Pricing Model (CAPM) is a method used to measure the risk and return of an asset, which describes that each expected risk premium of an asset should rise in proportion to its beta (Brealey, Myers and Allen 2011): In which, ri refers to the return on asset, rf refers to the risk free rate of return, beta is the covariance and (rm-rf) is the market risk premium (Brealey, Myers and Allen 2011). To begin with, risk free rate (rf) should be determined. Generally, 10 years government bonds rate is considered to be risk free rate as it is commonly believed that a government would be unlikely to default on its obligations (McNickle 2011). However, it does not mean that government bonds face no risks, it still encounter inflation and interest rate risk (Brealey, Myers and Allen 2011). Source: http://www.rba.gov.asu/statistics/tables/xls/f02d.xls?accessed=2013-05-22-21-18-20 According to the Capital Market Yields – 10 years Government Bonds provided by Reserve Bank of Australia (2013), the 10-year government bond rates in 21th May 2013 is 3.26%, which should be used as the risk free rate (rf) for the calculation of CAPM. Source: http://www.ato.gov.au/super/content.aspx?menuid=0&doc=/content/60489.htm&page=36&H36 However, those may argue that based on the historical data from Australian Taxation Office (2013) – the table above, the average of risk free rate from 2003 to 2012 is calculated to be 5.34%, which should be the risk free rate for the calculation instead of 3.26%. Nevertheless, since the risk free rate is always changing, in order to estimate the return for asset more accurately, the current risk free rate 3.26% is supposed to be taken for the estimation. In this stage, the risky required return (rm), the same as market return, should be calculated. Stock market index is an approach to evaluate the value of stock market and S&P/ASX 200 is the most significant stock market index which tracks the performance of two hundred big Australian corporations (Australia Stock Market (S&P/ASX 200) 2013). Currently, S&P/ASX 200 is a primary share market index in Australia which replaced the All Ordinaries in April 2000 and has become the benchmark for investment for the Australian Securities Exchange (ASX) (ASX 200 2013). Therefore, S&P/ASX 200 is the best indicator of the market return and used to determine the market return. Source: https://blackboard.econ.usyd.edu.au/bbcswebdav/pid-636137-dt-content-rid-201558_2/courses/FINC2011_SEM1_2013/All%20Ords%20Accumulation%20Indices.xls Based on the data from S&P/ASX 200 Accumulation index (daily), which is provided by Mellare (2013), the yearly index could be calculated by averaging all of the daily indexes for that year. Yearly market return (rm) can be determined by: In which, old market index refers to the index for year t and new index is the index for year (t+1). A table for the calculation of market return will be created in a similar way with the S&P/ ASX200 table (see Appendix – 1) for the periods of 10 years in order to comply with ASX. Due to the prices in 2013 is not completed, the market return for financial year (FY) 2012 cannot be estimated reliably. Importantly, averaging rm for 10 years from FY 2002 to FY 2011 is significant for the purpose of determining a more accurate figure. As a result, rm = 8.31%. Because rm is the sum of the risk free interest rate (rf) and a premium for risk (Brealey, Myers and Allen 2011), the risk premium, as a part of CAPM equation, can be calculated through: rm = rf + risk premium risk premium = rm – rf Based on the previous analysis, rf = 3.26% and rm = 8.31%, risk premium = 8.31% – 3.26% = 5.09%. According to the report from last year, the market risk premium is estimated to be 6.0% in October (Michael, Blake and Zolotic 2012), the estimated value of 5.09% is reasonable. According to the financial information from Reuters (2013), Woolworths’ beta (ÃŽ ²) = 0.34. Therefore, by applying CAPM: Calculation of Next Dividend Payment The next dividend payment should be determined by using: In which, d0 is the current dividend payment, d1 is the dividend for the next financial year and g is the growth rate. Souce:http://datanalysis.morningstar.com.au.ezproxy1.library.usyd.edu.au/af/company/dividendhistory?ASXCode=WOW&xtm-licensee=dat The table above shows the dividend history of Woolworths (Morningstar 2013). Since, the total dividend payment in 2012 is $67+59 = $126 cents/$1.26 per share, which should be d0, and the growth rate is estimated to be 7.68% in the previous calculations, d1 = 1.26*(1+7.68%) = $1.36, which is the total dividend payment for 2013. As the interim dividend for 2013 has already paid on 26/04/2013, the final dividend for 2013 which is the next dividend payment should be: $1.36–0.62=$0.74 per share. Determination of Expected Current Share Price The constant divident growth model, which is Gordon’s Growth Model, is used for estimating the current share price: In which, P0 refers to the current share price, d1 is the divident payment for the next year, re is the required rate of return and g is the growth rate. In order to calculate the current price P0, firstly, d1 need be calculated which should be the dividend for the next year – 2014. Hence, d1 = 1.36*(1+7.68%) = $ 1.46 As required rate of return (re) consists of both capital gains and dividend yields (Mellare 2013) and capital gains is the same as g (Mathis 2001), re = capital gains (g) + dividend yields. Souce: http://www.woolworthslimited.com.au/annualreport/2012/pdf/WW_AR12_Full.pdf According to the historical data from annural report of Woolworth (2012), taking the average of all of the dividend yields for the last five years – from 2008 to 2012, the dividend yield = 3.8808%. Therefore, re = 7.68% + 3.88% = 11.56% Lastly, the expected current share price in 2013 is: P0 = 1.46/(11.56%-7.68%) = $ 37.63 Recommodation and Discussion Investment decisions are rely on the return and risk associated with a security. According to CAPM, actural returns are measured by beta, which is defined as a security’s sencitivity relative to the changes in the value of the market portfolio (Brealey, Myers and Allen 2011), over the long run. Beta of Woolworths Limited is 0.34 (Reuters 2013), which is a good sign as it indicates that the company is insensitive to the market risk. Comparing it with other companies, Wesfarmers Limited (WES), the Perth-based conglomerate which selling food to customers (Greenblat 2013), has same situation with Woolworths in terms of growing trend of dividend payment and  sharing market risk as they operates within the same industry – food industriy. Beta of Wesfarmers is 0.96 (Reuters 2013),which means that Wesfarmers is more risky than Woolworths as it is as risky as the market porfolio (Brealey, Myers and Allen 2011). As well, beta of Goodman Fielder (GFF), another food company, is 0.98 (Reuters 2013), which means it shares almost the same risk with the market porfolio (Mellare 2013) – realtively in the same situation with Wesfarmers. Therefore, when concerning with the risks, it is recommended to invest in Woolworths. However, under CAPM, high-beta securities will result in high return: ri = rf + ÃŽ ²*(rm – rf) As all of these three companies are in the same market, they share the same market risk but the proportion is different based on their beta. Although, securities of Wesfarmers and Goodman Fielder are more risky than Woolworths due to higher beta, they provide higher return to investors. Since investment decisions are depend on personal interests (Mellare 2013), it cannot be denied that there are a few investors prefer higher returns with higher risks. Moreover, the higher returns compensate investors for higher risk, hence, it is unlikely to determine whether invest in Woolworths is a better option. Nevertheless, investing in Woolworth is still recommended. Investing in low-risk securities provides constant and stable returns. Investing in Woolworths is worthwhile not only because Woolworths provides quite constant returns, but also its potential to growth due to its strong profitability and cash flows (WOW – Woolworths Limited 2012). Overall, it is recommended to invest in Woolworths. It is important to notice that there are a number of limitations for this report. Firstly, the method used for calculating dividend growth is based on the assumptions – constant dividend payout and return on equity, but in reality, both dividend payout and return on equity are unlikely to be constant. Consequently, the calculation of g may not be accurate. As well, since the 10-year government bond rate, which is considered as risk free

How to be a true friend Essay

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Upgrading server 2003 to server 2008 Research Paper

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Visual language Essay Example for Free

Visual language Essay One of the ways in which the poets bring out what the people are like through the language of the two poems is by using similes. In Two Scavengers the poet uses the simile like some gargoyle Quasimodo to symbolize that the bin man is unsightly. The simile the peasants came like swarms of flies and buzzed the name of God a hundred times in Night of the Scorpion suggests that the peasants are rushing to the attraction and are also religious, but annoying like buzzing flies. The poets also use metaphors like grey iron hair implying that the bin man is old and tired. Throwing giant scorpion shadows symbolizes the amount of mental power the scorpion holds, and as the poem is a prose-poem written by the point of view of a child watching as his mother is bitten by a scorpion, this statement emphasises how frightened the child must have been. The peasants are referred to as they showing that they are distant from the child. The poet of Two Scavengers uses no punctuation, so the different lengths of the sentences cause the pause effects. The poet of Night of the Scorpion uses personification by saying flame feeding on my mother. He uses repetition for they said hinting that the peasants say a lot of things but do nothing, he also applies repetition to more to emphasise the fact that more unnecessary and redundant peasants who will not help the predicament are coming, and uses repetition for May to perhaps show that the peasants are uncertain of what good can possibly come out of this terrible event. The Night of the Scorpion is written in free verse with different line lengths and no rhyme. The structure of Two Scavengers is also quite free as the poet uses a new line for a pause, instead of punctuation. In the structure of Two Scavengers in a Truck, Two Beautiful People in a Mercedes, there is a contrast within the title. This poem seems fragmented and broken up on the page and this might suggest the broken nature of society. The lines of this poem overlap so the elements of the characters lives overlap, but are separated from the two distinct worlds, therefore the poem resembles the reality. The last line of the poem which consists of three parts is segregated from the stanza above to show how distant democracy is from them. The word democracy is isolated from the poem , hence creating an emphasis on the word, and also highlighting the core issue throughout the poem. In Night of the Scorpion similarly to Two Scavengers the last sentence is separate from the rest of the poem as well. The reason for this could be because the mother is weak throughout the poem, but becomes strong at the end. In addition, it could be due to the fact that it is the only time the mother has spoken in the poem. The differences of the language in these two poems are that Two Scavengers utilises visual language to describe the characters appearances: this effect creates an image in the readers mind unlike Night of the Scorpion which describes the actions and speech of the characters instead.  In my opinion, Two Scavengers in a Truck is more appealing in view of the fact that it keeps the reader thinking, furthermore it forces the reader to question the world we live in and whether there is a thing such as democracy, and how we are supposed to be living in a modern world and modern culture in which everyone is equal, but is that really the reality? However, Night of the Scorpion has a major effect too, by presenting a tragic situation which represents the seriousness of the lack of health and medical care in poor countries. It is also an uplifting poem which shows a family never giving up hope. Similarly, both poems contain conflict: Two Scavengers is between two worlds and whether democracy exists at all, and Night of the Scorpion is a struggle between maintaining hope and faith and giving in to your fears and doubts.  Despite the impact of Night of the Scorpion if the reader was not from a third-world country, they would probably find Two Scavengers in a Truck more appealing as it discusses issues which are relevant and significant to them in their country and culture, moreover it debates about problems which would actually make a difference to them and affect them if they are supposedly living in a democracy. On the contrary, if the reader was from a poor country and had experienced or witnessed lack of medical care, they would most likely prefer Night of the Scorpion as it exposes issues which they would find relevant.

Organisational Change Models In Tesco

Organisational Change Models In Tesco Introduction: Tesco is one of the leading global retailers and the UKs biggest retailer as well as third largest grocery retailer in the world operating across Europe, North America and Asia. This business has been started by Jack Cohen in 1919 and he used to sell groceries from a stall in the East London. In 1929, the first Tesco store was opened in North London, Middlesex. Later on, it has expanded its business by a combination of acquisition of new stores, retail services by concerning the customers need and satisfaction. Now, it operates 4,331 stores throughout the world with more than 470,000 workers to meet the requirement of the modern market and it is not limited with its usual product range of grocery and general merchandise, it has diversified its business with electronic goods, clothing, banking and insurance services, telephone airtime and equipment. Tesco moves towards one stop shopping which means customers can get all their purchasing requirements from one place. Tesco has also expa nded its customer base through online with tesco.com and tesco.net website which attracts more than one million regular users. In this time, Tesco is one of the successful retailers in the world. Behind this progression, Tesco has changed accordingly time to time. In this context, it has undergone a technological change self checkout system. Tesco introduced this self check system as a trail on 5 March 2003 from East Dereham, Norfolk superstore. Later, it increases the no of self checkout system gradually from different store. From this self checkout system, customer allows to scan and pay for their shopping without any intervention from staff which helps to customer to save their shopping time. Tesco believes that it helps to increase the efficiency and speed up the shopping process as well as improve customer service. Although, the key aim of this change is to cut down the cost which allows the company to maximize the profit. This study will be examined how Tesco applied this change initiative and developed a change strategy, used change implementations models as well as analysed an organizational response to change and evaluated the impact of this particular change strategy. entifying a range of organisational change models or frame work. Organizational change is a deliberate attempt to improve organisational performance by changing one or more aspects of the organisation. Change may be successful when the appropriate change process is applied. For change process, there are a lots of change models and theories have been formulated by various experts and management gurus but for this particular change initiative of Tesco this study is identified some change models which are as follows. Lewins change model. Lewin developed three step model of planned change which explained how to initiate, manage, and stabilize the change process. This model defines three steps in the process of change management. Source: www.ic-pod.typepad.com Step 1- Unfreezing This step involves the organisation unfreezing existing attitudes and behaviour. Employees go through a process of unlearning old habits, old ideas and old perception how change will affect them. Step 2- Change This step involves a behavioural change. Employees modify their old ways and take on new ways of thinking about change how it should be implemented and how it can be positive rather than negative. Step 3- Refreezing The final step involves process of maintaining the momentum of change through locking in the changes, stabilising the situation, building relationships, consolidating the system, evaluation and support, preventing any going back to the old ways. Beckhard and harries model Organizational change occurs in a three stage cycle: present state, transition state and future state- Beckhard and Harris (1987). From above statement, we can conclude that this model focused on three state of change: present, transition and future. This model recommended that organizational change consists of an organization moving from a present state through transition to a desired future state. Present state refers to the current situation of an organization which contain organizations structure, process, people and external and internal environment. By analysing current situation organization can decide weather the organization wish to change or not. If the situation is stable, tranquil or satisfactory organization may be interested in change and identify new role, function or structure that it needs to adopt but it has not agreement or idea of a direction of change. Transition state consists to the structure, processes, people and environment of an organization as it undergoes change. The transition state is nearly turbulent and unsatisfactory level where existing structure and process that worked previous do not work well anymore and new structure and process deliberate to operate in future are not in place yet. Future state is the final destination of whole change process. It is the stage of that the structure process, people and environment are placed and an organizational change is completed. The organization achieved its desired future in this state. Change equation model Change equation model is based on mathematical presentation of change process which is developed by Gleicher and also called Gleichers change formula. In this model the multiplicative nature of change equation is: D ÃÆ'- V ÃÆ'- S > R Where, D= Dissatisfaction of current state quo V= Clarity of vision S= First step to be taken R= Resistance to change According to equation, change is only possible when the multiplication of D, V and S is excess the R. In other hand, the product of dissatisfaction (D) with the current situation, a vision (V) or positive picture of what is possible in the future and real, achievable first steps (S) people can take toward reaching the resistance to change (R). If any of these D, V or S is zero or near to zero the product of these three will zero or near to zero which means there is no resistance to. Applying a range of creative problem solving techniques to address change challenges Managing change is not an easy process and it is not always successful and arises with challenges. In terms of addressing those challenges (i. e. resistance to change), change manager can implement various creative problem solving techniques according to nature of change. Some of techniques which are implemented for this particular change process by Tesco are discussed below. Change path: Change path refers to the types of change which can be classified by extent of change required and speed of change that need to be undertaken for the require change outcome to delivered. There are four types of change revolutionary, evolutionary, adoption and reconstruction. The speed of change is about the way that change is implemented. It may be the gradually step by step change and one time big bang change. The context of change contains of transformation or alignment. Tesco has implemented this self checkout system step by step incrementally with time framework through evolutionary change to minimize resistance. It has brought this change as a trail in superstore later it gradually increases no of self checkout system in different stores. Evolutionary change Adoption change Revolutionary change Reconstruction changeTransformation Alignment Incremental Big bang Change start point: This is the where change initiated and developed. It may be the top to down or button to up approach. According to Food and Drink European.com on 6 March 2003, the strategic manager of Tesco Richard Dobb announced this self checkout system. As per this press release the change start point of this change is top down approach. In this change initial the readiness of change is low among the employee so the strategic manager decided to implement change initiative from top to down. Change style: A Change style is the management style of implementation of change. These change styles may be the collaborative, consultative, directive, coercive etc. These change styles can implement according to nature of change. To minimize the challenges (i. e. resistance by employees), Tesco has implemented collaboration style because this model focuses on extensive involvement of employees in terms of what is the change and how deliver the change needs. This approach works by creating pull and achieving commitments through getting people to invest in the change. The strategic manager involved employees in this change initiative through face to face meeting with focus groups. Change interventions: Change intervention includes technological intervention, political intervention cultural intervention and interpersonal intervention. Change roles: In order to manage this particular change Tesco formed specialist change team including strategic manager, human resource manager and IT director of Tesco and strategic manger Richard Dobb plays vital role in this change process. Identifying and justifying change solutions that link to organizational strategic plan. Basically, Tesco has been adopting growth strategy since its establishment time. It has a well established and consistent strategy for growth. According to corporate website of Tesco (www.tescoplc.com) its strategic plan is: The rationale for the strategy is to broaden the scope of business to enable it to deliver strong, sustainable long term growth by following customer into large expanding markets at home such as financial services, non- food and telecoms and new markets aboard, initially in Central Europe and Asia and more recently in the United States. Tesco is aiming to expand business aggressively. It wants to grow the core UK business, strength non food retailing, develop diversified retail service such as Tesco personal finance, telecoms and tesco.com. as well as putting community and environment in the centre point what it does and it wishes to stand as a successful international retailer. 2.1 Evaluating a range of change implementation models Implementing change is not an easy task because it is gone through various obstacles in order to get desire future destination. For implementing change initiative there are various change model such as Kotter change model, Action research model, Beer et al six step model, Balance score card, EFQM, IIP etc. However, this project examine Kotters change model for this self checkout change project. Kotters change model This model is developed by John Kotter and also known as 8 steps model of change. The key aspect of this model is change goes through a series of stages with considerable time framework. Skipping steps creates only the illusion of speed and never produces satisfactory results and making critical mistake in any phases can have a developing impact, slowing momentum and negating hard won again. Kotter describes the change process in 8 steps as follows. Create sense of urgency In this stage organization develops sense of urgency around need for change. Organization can feel need of change through examination of market and competitors situation. Furthermore, Organization identifies and discusses key opportunities and potential threats and develops the scenarios presenting what could be happen in the future. Form a power coalition team In this step, to cope with change efforts organization builds a team with enough power and authority and encourages team to work together. Create a clear vision In this step, organization generates a clear vision that is central to the change levers and develops strategies to execute that vision. Communicate the vision In this step, organization communicates the new change vision and strategies by using every possible ways and educates new behaviour using example of the guiding coalition team. Empower other to act on the vision This step describes about removing of barriers to change. Organization change the system and structure which challenges new vision and focus on risk bearing and new ideas, activities and actions. Create short-term wins Short terms wins are the foundation of what needs to be done in order to get long term change. In this step, Organization plans for visible performance improvements and creates those improvements. Furthermore, reward people who help to meet the targets. Consolidate improvements and producing still more change In this step organization analyzes what went right and what needs for improvement. To get further improvement organization revises systems, structures and policies that unsuitable for vision and employ encourage and develop employees who can contribute to implement vision. In addition it reinforces the change process with new project themes and change agents. Institutionalise the new approaches The final step focuses on assembling the achieved change into concrete shape. For this, organization builds alignment between new behaviour and corporate culture and develops means to ensure leadership development and succession to substitute key leaders of change. This model is easy to follow because this model breaks down the entire change process into small steps clearly and it focus on the acceptance and preparedness for change rather than change itself that helps to get easier transition. Another point is that it focuses on incremental change through step by step with requiring time framework and suitable for small organizational change too. Its only con is skipping the step results the complete change process fails. 2.2 Identifying the criteria to be select a change implementation model that supports organizational change. Tesco wanted to implement self checkout system in comparatively short time incrementally to minimise the resistance to change and to increase competitive power. In order to implement change initiative strategic manager has chosen Kotters change model because the change initiative has to implement relatively in short time incrementally. Moreover, this change initiative contains small technological change and this change model is appropriate for small change too. Tesco has implemented change initiative as follows. Create sense of urgency After analyzing competitor, Tesco felt that it has to increase competitive power and improve customer service to stand as a market leader. Consequently it looked new technology that can reduce cost and improve customer service because technology is developing rapidly. In 2002 Market and Spencer brought new technology self checkout system it was closely observed by Tesco. So Tesco decided to adopt self checkout system as a change project. Form a power coalition team It formed group including area manager, supervisor and representative of trade union with enough power and authority to make the change relevant. Create a clear vision The new vision of company is: Be competitive, provide the best customer service and incorporate technology. Communicate the vision To communicate vision, the team used companys website and cascaded message through area manager to supervisor and supervisor conducted meeting with other staff to talk about what the goals mean. Empower other to act on vision Change manger conduct education and training programme to teach the benefit of self check out system in order to overcome from obstacle. Special education session has been provided to employees who was creating obstacle to go ahead. Company announced rewards to staff from each store that helped to move forward to make the aims real. Create short-term wins After the succession of trail project, Tesco put report on website and articles have been published in news. Consolidate improvements and producing still more change Institutionalise the new approaches 3.1 Demonstrating the use of analytical tools to monitor the change progress and the effect of change The change affected the employees both ways positively and negatively in terms of experiencing change and changing behaviour and these change effects are analysed and monitored through survey, meeting, interviews and seminar. To find out perception of employees regarding effect of change the strategic manager decided to conduct a survey and it was found that most of employees are in fear of job loss because they though that self scan system replace their job. Some of were happy about that they get extra time to chat with customer. Some of were excited to learn new technology and they feel it is great opportunity for them. Some of were scared about the new technology what it really do. Some of were worried about changing position and work store because technology friendly colleagues were replaced their position. In order to study change related dysfunctions meetings were organized with area manager. It was conquered that people were in some pressure that they did not want to adopt this change because of job loss, changing position and work store, new technology. Interviews were conducted with the employees who expressed their reservations about the self checkout system. Change team promised to employees that no one lose job, it does not affect the position of any staff and they give effective training programme to be technology friendly. To measure the progress monthly seminar were conducted. During these seminars many staff showed great deal of eagerness as they were keen to learn about self checkout system and most of staff showed willingness to move forward with this change. 3.2 Assessing monitoring and measurement techniques to change with in organization 3.3 Analysis strategies to minimise adverse effect of change Change leader decided to follow Kotter and Schlesinger model in order to overcome resistance to change. This model contains six approach education and communication, participation and involvement, facilitation and support, negotiation and agreement, manipulation and co-option and explicit and implicit coercion. In the phase of education and communication, the change team communicated the benefits of self checkout system and its necessity to company. They convinced employees that self checkout system wont be the cause of any job loss and changing position and employees can get extra time to chat with customer by giving example of Market and Spencer and work store and they offered comprehensive training programme for all staff. After this step some of employees again abused to move further so the change leader decided to involve the team leader of resistance group in change team. However, some of employee who are relatively mature again created obstacle to go ahead. The change team conducted special training and counselling programme for these employees. The change team also promised that they will give monetary reward if the change is completed. Thus the change team have overcome resistance to change to move further. 4.1 Identifying the process to review the impact of the change. 4.2 Analysing the results of the impact of review To analyse the results of the impact of review there is two approaches quantitative and qualitative. Quantitative approach is phenomena which independently observable and measurable.

Effects of Alzheimers On Response Times

Effects of Alzheimers On Response Times John C. Hemby Physiological Psychology Dr. Colleen Miron There are many advances in science that has allowed us to understand, cope and in some cases treat certain diseases of the brain. However, there is much we still do not know about many of them. Alzheimer’s would be one of these disorders. The text states that Alzheimer’s is defined as a persistent, degenerating disorder that inhibits the brain’s cells or neurons and thus resulting in memory loss, language skills and rapid changes in behavior (Kalat, 2012). This usually occurs in the older aged population, around the age of sixty-five and isn’t considered to be a normal part of the aging process. According to an Alzheimer’s organization website, a person is diagnosed with Alzheimer’s every sixty-seven seconds and that there are currently more than 5 million Americans that have this disease (Help End Alzheimer’s, n.d.). One of the issues of having this disease deals with enumeration or recollection of numbers by counting. The text states that individuals with Alzheimer’s cannot recall learning certain skills i.e. golfing and are often surprised when they do well (Kalat, 2012). This research in this article is important because it shows how well a person with Alzheimer’s can quickly recall how many numbers are in a certain area just by looking at it. This is a simple experiment in that it will be easy to measure the reaction times and the task of counting isn’t that complex in comparison to golfing. According to the article, individuals that have Alzheimer’s sometimes have difficulty with visual enumeration. This means that a person with Alzheimer’s has difficulty counting visual numbers or tracking down a number in a specific area, i.e. looking for number 42 in a numerical list of 1-100. This study is unique in that finding the reaction time difference between olde r adults that have Alzheimer’s and those that don’t would be a quantifiable aspect and gives more proof to the damage that the brain receives from this disease. The researchers in this article are doctors Maylor, Watson and Muller and they studied the subject of visual enumeration in patients with Alzheimer’s in the year 2005. The hypothesis of the study was that the participants’ with Alzheimer’s would have a significant increase in response time in counting numbers, subitizing numbers(readily knowing a number just by looking at the amount of figures in a picture) and finding numbers in comparison to older adults that did not have Alzheimer’s (Maylor, Watson, and Muller, 2005). The study was conducted using participants from a resident home that specialized in the care of people with dementia. These participants were already diagnosed with dementia by professional health providers (Maylor, Watson, and Muller, 2005). There were a total of 12 participants whom had Alzheimer’s and their average age was 81 years old with 4 men and 8 women in the study. The other participants had an average age of 79 and only 8 participants; with only 3 being men and 5 were women. The researchers also gave the participants a Mini-Mental State Examination or MMSE, and the control group scored higher than the Alzheimer’s participants; 17.3 was the average for the Alzheimer’s participants and 29.4 was the average for the control group (Maylor, Watson, and Muller, 2005). Last, all of the participants were voluntary and did not receive any payments for their participation. The researchers used a laptop to be used as a visual for the participants. The laptop also measured response times (RT) and synched the displays. The participants utilized the spacebar key on the laptop as the response button. They put the screen at eye level with a distance of 60 cm. Then a researcher put in the responses with their own keypad. The stimuli on the screen were red circles displayed on a black background. They randomly generated the stimuli in order to avoid any counting ahead (Maylor, Watson, and Muller, 2005). The experimenter conducted the tests individually in a room that was either at the resident facility or at the home of the control group participant and the room had nothing but the laptop and the two people conducting the experiment. The initial test was the MMSE and then an enumeration task, a block of demonstration on the task, 3 turns of practice trials and last, there were 3 turns of experimental trials (Maylor, Watson, and Muller, 2005). The participants were required to press the spacebar for how many circles they saw. The results of the study indicated that the Alzheimer’s participants were slower than the control group, 1.4 seconds to be exact. The data was analyzed by using ANOVA’s to demonstrate the difference in response time and the accuracy of the numbers between the two groups. However, they had the same accuracy in seeing how many items were currently present on the monitor (Maylor, Watson, and Muller, 2005). There were some differences in the results with the numbering portion of the experiment. The participants with Alzheimer’s had a significant reduction in response time in comparison to the control group in the subitization part. The second part, counting, the Alzheimer’s participants were significantly slower than their counterparts as well. The hypothesis was supported by the results of the experiment (Maylor, Watson, and Muller, 2005). The conclusion of this study shows a definitive, qualitative answer between Alzheimer’s and normal older adults’ response time. This in turn shows where to start on how to improve those with Alzheimer’s response time especially since there isn’t any issue with their accuracy (Maylor, Watson, and Muller, 2005). There were several issues with this study. First, instead of using a cross sectional study, the researchers should have utilized a longitudinal study; that way they could see how slower the participants got overtime as their Alzheimer’s progressed. The second issue is that they should have acquired individuals that had just become diagnosed with early stages of Alzheimer’s; in the study they give no indication on what stage these participants were at. Last, there was an issue with the amount of participants in the study. The average was too generalized and needed a larger group to narrow down the averages (mean) in order to acquire a hi gher quality of data. There are some different avenues of approach for future studies on this particular subject. The first approach could be that men and women may suffer from Alzheimer’s differently, therefore in the future the men and women should be separated into different groups. This would show if there were any differences between the sexes. The next idea is that according to the text, those that drink coffee are less likely to have Alzheimer’s (Kalat, 2012). So for a future research idea, one should have the participants drink coffee for a while before starting the experiment. This could show if the effects of Alzheimer’s are mitigated when given a stimulant, i.e. caffeine. The last idea would have to be instead of utilizing numbers, use matching words. For example, gauge a participant’s reaction time by having a word on the screen and then the participant has to choose a synonym for that word i.e. happy equals jovial. This would show if a participant with Alzheimerâ⠂¬â„¢s can recall a larger vocabulary and in a timely manner. References Help End Alzheimers. (n.d.). Retrieved December 19, 2014, from http://www.alz.org/ Kalat, James W. Biological Psychology, 11th Edition. Cengage Learning, 01/2012. VitalBook file. Maylor, E. A., Watson, D. G., Muller, Z. (2005). Effects of Alzheimers disease on visual enumeration. The Journals Of Gerontology. Series B, Psychological Sciences And Social Sciences, 60(3), P129- P135.

Wal-Marts Positive Influence on American Businesses Essay -- Business

Wal-Mart's Positive Influence on American Businesses   Ã‚  Ã‚  Ã‚  Ã‚   "Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to only so far as it may be necessary for promoting that of the consumer..." Adam Smith. Wal-Mart is a producer who has the sole purpose of promoting consumption of the consumer. Wal-Mart and its quest for capital improvement are playing a major and vital role in the evolution of economic life. Wal-Mart brings positive change to towns in the U.S. They increase competition between retailers, stimulating the economy, and they also bring more capital and tax revenue to at town, some of which desperately need a positive change.   Ã‚  Ã‚  Ã‚  Ã‚   'I think it's just the natural evolution of growth,' says Cynthia Lin, a spokeswoman for Wal-Mat in California. Wal-Mart's expansion and growth, like that of many other large retailers such as K-Mart, Buy Mart and Fred Meyer, is part of a bigger picture involving the evolution of the economy and the way businesses conduct themselves. Evolution, defined as the gradual process in which something changes into a different and unusually more complex or better form, is thoroughly distributed in all aspects of life. From biological, social, cultural, to economic, it can?t be denied that there are evolutionary processes taking place constantly. But it would be impossible to take a small piece of time out of our history, study it, and then conclude what is exactly evolving. The evolution processes take place simultaneously and can only be seen from the larger picture. That is why it is necessary to take a collective look at our history, from one point in time until anothe r, to effectively see the process of evolution work.   Ã‚  Ã‚  Ã‚  Ã‚  The industrial revolution began with one or two ideas for a better means of mass-production, and it became the driving force that turned the manufacturing world into what it is today. It was just 1 turning point of the evolution that took place in the 20th century (still affecting and changing lives today). Cars, houses, appliances and life?s everyday activities became more affordable and convenient for the average person. If you look at the pattern of the human race for as far back as possible, the general goal has been to increase the quality of life. Whatever it might be; health and medicine, living conditions, or food, people have... ...?t find what they needed there, so they came downtown to shop,? Jubitz said. ? I don?t think we?ve lost any businesses except for a small drugstore that was on its way out anyway because a Payless moved in at the same time as Wal-Mart.? The city of Grants Pass, Oregon had a similar situation with an arrival of a Wal-Mart in 1992. ?Today the downtown corridor consists of specialty and antique shops,? says Barton Brierley, and associate planner for Grants Pass. ?Wal-Mart helped ensure a change in the character of downtown,? he said. Laura Richardson who is a retail analyst with Pacific Crest Securities is all for a competitive change involving smaller retailers. ?It?s a big store. It carries a broad selection. There?s no depth,? Richardson said. ?That?s where the local shops can compete. They need to figure out what Wal-Mart doesn?t do, be flexible and do it.? The expansion of Wal-Mart throughout the U.S. is a positive change for towns, cities and the economy. It brings prosperity, healthy competition and it is part of the inevitable evolution that sweeps through the country on a daily basis. Wal-Mart should be greeted with open arms and with a positive outlook for the future.

Is Assistance without Knowledge and Understanding Really Helpful? :: Essays Papers

Is Assistance without Knowledge and Understanding Really Helpful? According to the "demographic transition," after the industrial revolution death rates started falling more rapidly than birth rates causing an increase in population growth. When population growth drew the attention of scientists and policy makers in the 1950s, demographics and development in poor countries were the main concern but no real efforts were made to seek out solutions. Referred to as the World Population Conference, the first international meeting on population convened in 1954 in Rome. That year the Khanna study emerged as the first birth control program to have a control as well as a test population. Because the researchers expectations and schemas guided their perceptions and inquiries, biases plagued the Khanna study, which failed to show an effect of birth control on fertility rates. Foreign to the culture of rural India but aware of the serious population problem, the researchers developed the Khanna study with the assumption that the Punjabi people needed to and wanted to reduce their birth rates. In his book Myth of Population Control, Mahmood Mamdani explains that there was "a significant gap between the [researchers] perceptions and the reality of the village"(Mamdani, 35). The researching staff members were all of the urban, educated, middle class; they viewed children as financial burdens and therefore, believed that controlling birth rates would help Punjab move ahead economically. However, according to the article "New Perspectives on Population: Lessons from Cairo," it is "economic insecurity [that] encourages people to have large families"(Ashford, 31). Indeed, this was the case in the rural villages of Punjab, where people believe children are an asset to the family; more children mean more working hands. "Except for two staff members, no one was will ing to admit that the villagers might be acting rationally" when they choose to have many children (Mamdani, 48). Knowing and understanding the relationship of cultural, social, and economic factors in a population is clearly an integral part in forming successful assessments of and assistance to that population. The Khanna study researchers took for granted that the women in the Punjab villages who accepted the contraceptives were in fact using them. "Although 39 percent of the fertile wives had used the foam tablets, only 8 percent had used them consistently for four months or more" (Mamdani, 31). The researchers did not anticipate this confusion between "acceptance" and "use" because in their world of experience there was no difference between the two. Is Assistance without Knowledge and Understanding Really Helpful? :: Essays Papers Is Assistance without Knowledge and Understanding Really Helpful? According to the "demographic transition," after the industrial revolution death rates started falling more rapidly than birth rates causing an increase in population growth. When population growth drew the attention of scientists and policy makers in the 1950s, demographics and development in poor countries were the main concern but no real efforts were made to seek out solutions. Referred to as the World Population Conference, the first international meeting on population convened in 1954 in Rome. That year the Khanna study emerged as the first birth control program to have a control as well as a test population. Because the researchers expectations and schemas guided their perceptions and inquiries, biases plagued the Khanna study, which failed to show an effect of birth control on fertility rates. Foreign to the culture of rural India but aware of the serious population problem, the researchers developed the Khanna study with the assumption that the Punjabi people needed to and wanted to reduce their birth rates. In his book Myth of Population Control, Mahmood Mamdani explains that there was "a significant gap between the [researchers] perceptions and the reality of the village"(Mamdani, 35). The researching staff members were all of the urban, educated, middle class; they viewed children as financial burdens and therefore, believed that controlling birth rates would help Punjab move ahead economically. However, according to the article "New Perspectives on Population: Lessons from Cairo," it is "economic insecurity [that] encourages people to have large families"(Ashford, 31). Indeed, this was the case in the rural villages of Punjab, where people believe children are an asset to the family; more children mean more working hands. "Except for two staff members, no one was will ing to admit that the villagers might be acting rationally" when they choose to have many children (Mamdani, 48). Knowing and understanding the relationship of cultural, social, and economic factors in a population is clearly an integral part in forming successful assessments of and assistance to that population. The Khanna study researchers took for granted that the women in the Punjab villages who accepted the contraceptives were in fact using them. "Although 39 percent of the fertile wives had used the foam tablets, only 8 percent had used them consistently for four months or more" (Mamdani, 31). The researchers did not anticipate this confusion between "acceptance" and "use" because in their world of experience there was no difference between the two.

Hamlet: Fate :: essays research papers

Hamlet: Fate In our world today psychics try to predict what will happen in our futures. What may happen in the future is controlled by a power far higher than what can be seen by someone at the other end of a "1-900†¦" telephone number. The play Hamlet, by Shakespeare, presents a view of the world in which man's intellect is powerless to understand and predict the whims of Fate. Man is governed by an uncaring and perhaps deranged power. The characters of the play are in no way able to comprehend what may lie in the future. Hamlet knows that there is something wrong with the marriage between his mother (the queen) and Claudius (King Hamlet's brother). The marriage takes place just months after the slaying of King Hamlet. "Something is rotten in the state of Denmark." The characters of the play know that there are powers at work in the kingdom. A power that could be considered supernatural is in control of the actions of the play. Hamlet is visited on several occasions by a ghost that offers thought provoking information. Hamlet knows not whether to trust the spirit or disregard what he has been told. "†¦ the devil hath power T'assume a pleasing shape" Hamlet thought that the spirit may be trying to mislead him in the quest to find his father's killer. Characters of the play become unsure of their intentions due to the odd twists of fortune that they are dealt. Characters in the play that were so sure of their decisions became uncertain. This uncertainty arises when the plans of characters are somehow altered. The alterations change the fate of many characters. Polonius was killed in the wake of Hamlet's plan to find his father's killer. Hamlet had no intention to kill anyone that did not deserve it. It was by chance that Polonius was in the chamber of the queen when Hamlet arrived. Polonius hid behind the curtain and was killed with a thrust of a dagger. "Time is out of joint.

The Link Between Shamanism and Schizophrenia

We have no tradition of shamanism; modern day society is terrified of madness because the western mind is a house of cards, and the people who built that house of cards know that it is a house of cards. We have a great phobia about the mind and hesitate when first principles are questioned, Rarer than corpses are the untreated mad and this is because we cant come to terms with it. As Terence McKenna says in a lecture on this subject: â€Å"a shaman is someone who swims in the same motion as a schizophrenic but the shaman has thousands and thousands of years of sanctioned technique and tradition to draw upon†¦Ã¢â‚¬  in a tribe if a child shows ‘schizophrenic’ tendencies they are immediately drawn away from society (but not rejected) and put under the care and tutelage of master shamans who will teach the child how to heal and enlighten the masses, in western society if someone is classified as a schizophrenic they are drawn out of society and told not necessarily verbally that they don’t fit in and are not of equal worth to the rest of society, they are locked up in asylums, equal to prisoners and numbed with drugs, this treatment makes schizophrenia incurable, Terence McKenna says in the same lecture â€Å"If you’ve ever bin in a mad house then you know that it is an environment calculated to make you crazy and keep you crazy †¦Ã¢â‚¬  . Culture is everywhere, it tells people what to do, what to believe and who they are. Culture embeds notions deeply inside people to the point where they are unaware of their presence these preconceived cultural notions dictate human life Culture determines who is going to be at the top of society and who is going to be at the bottom of society. The building blocks that make up a culture in turn make up weather someone is a schizophrenic or a shaman, for instance the Yanomamo people who live in the Amazon rainforest are a shamanic community, and their cultural building blocks are vastly different to those of New York City and it is because of these cultural building blocks that there are shamans in the Yanomamo culture and no schizophrenics, just like there are schizophrenics in New York City (western culture) and no shamans. This is due to the different cultures attitudes towards god, humanity and the earth. If you took a newly born baby who had a genetic predisposition towards Schizophrenia and dropped him off in the Amazon Rainforest, he would surely become a shaman. If you took a newly born baby who is from a long line of shamans and dropped him off in New York City, he would surely become a schizophrenic. Take away their culture and schizophrenics and shamans practically are one in the same. So far through researching the topic I have found that there is a startling resemblance between schizophrenic and shamanic tendencies. Both shamans and schizophrenics experience hallucinations and become very introverted and withdraw from ordinary realities. From the moment a person becomes schizophrenic or shamanic they are in a constant psychedelic state and perceive the world in a completely different way to normal people. What is different between schizophrenics and shamans is how that psychedelic potential manifests and conditions itself. For a schizophrenic the conditioning takes place the moment he/she is born, the schizophrenic experiences and neutral stimulus, ordinary reality, this then elicits an unconditioned response, ordinary perception, but as the child grows up he/she is subjected to a new unconditioned stimulus, culture, when this new unconditioned stimulus is repetitively paired with the neutral stimulus, ordinary reality, Eventually the neutral stimulus, ordinary reality, becomes a conditioned stimulus and begins to elicit a conditioned response, non ordinary perception which in turn makes the schizophrenics perception psychedelic. In a sense, this psychedelic state of perception is permanent, for the schizophrenic is most likely always going to be a member of his original culture. Only through the external manipulation of the taking of antipsychotic drugs can the schizophrenic come out of the permanent psychedelic state that he/she is in. the shaman is conditioned in a similar way When a shaman is born, the Conditioning process takes place. A neutral stimulus, ordinary reality, elicits an unconditioned response, ordinary perception. Eventually, when the shaman begins his rigorous training, he takes a powerful psychedelic, an unconditioned stimulus. This unconditioned stimulus, a powerful psychedelic, elicits an unconditioned response, non-ordinary perception. Eventually, The neutral stimulus, ordinary reality, becomes a conditioned stimulus and begins to elicit a conditioned response, non-ordinary perception . Thus, the shaman’s perception is made psychedelic. This psychedelic state is permanent, for a powerful psychological agent, such as a psychedelic substance, changes you forever. Counter-conditioning a psychedelic experience is extremely difficult. It may happen, however. The sychedelic substance that the shaman takes reinforces his mind to perceive the Psychedelic and the culture that the schizophrenic grows up in reinforce his mind to perceive the psychedelic. If the shaman stopped taking his psychedelics, and if the schizophrenic started taking his anti-psychotics, then their state of mind would change, and this change is solely a somewhat controllable change. Therefore, the schizophrenic, like the shaman, takes a substance in order to transcend, and this substance is culture, a psychedelic. The shaman’s act of taking a psychedelic and the schizophrenic’s act of taking a psychedelic is a somewhat controllable act. Shamans and schizophrenics both experience religion . Although schizophrenia is not seen as a religion unlike shamanism, many schizophrenics when experiencing delusions and hallucinations said is was a spiritual and religious experience which can be both positive and negative, sometimes their religious beliefs and faith can strengthen and comfort them, other schizophrenics can be rejected and contradicted by their faith because the delusions and hallucinations they have may challenge their beliefs, when this occurs schizophrenia itself sort of turns itself into a religion different from mainstream ones. Schizophrenics interpret a certain stimulus, the archetype of religion, in ways that don’t correspond with the accepted norm of their culture or rather the accepted religions of their culture. Shamans also interpret the archetype of religion but in ways that are accepted by their culture and religion. Shamans are accepted by their society where as schizophrenics are not.

PTLLS Assignment 1: Roles and Responsibilities in the Teaching Cycle

1. Describe what your role, responsibilities and boundaries would be as a teacher in terms of the teaching/training cycle. My role as a teacher In her book Preparing to teach in the Lifelong Learning sector 2011 (P9), Ann Gravells explains that â€Å"Your main role as a teacher should be to teach your subject in a way that actively involves and engages your students during every session. † Beyond this, my role as a teacher of business management extends to firstly being an exemplar of good management practice, behaviour and conduct. I would need to be a positive role model to my students in interpersonal relationships, organisation, time management, leadership and other aspects of the role of a manager. My role as a teacher also extends to creating a positive, safe and encouraging inclusive learning environment that provides opportunity for learner collaboration and co-operation. My role is not just didactic but facilitative in enabling learning. My role would be ongoing in identifying barriers to learning whether academic, personal or otherwise. I would then apply appropriate interventions to support the learner in overcoming such barriers, with due regard for the professional boundaries of the role. Ultimately, my role is to successfully motivate and support my learners to attain their management qualification. Responsibilities throughout the stages of the teaching / training cycle The teaching / training cyle is in five stages: 1. Identify needs 2. Plan and design 3. Facilitate / deliver 4. Assess 5. Evaluate At each of the five stages of the teaching / training cycle there are many responsibilities countered by relevant boundaries. Responsibilities and boundaries in identifying learning needs At Stage 1, identifying learning needs, the process starts with the candidate’s eligibility for the training. This may be in terms of their academic ability in being able to achieve the Management qualification or in their background and experience in being able to apply the learning. My responsibility would be to explain the entry equirements and assesment criteria to any prospective students. Eligibility in terms of funding and other issues unconnected with the course itself might be addressed by the Course Administrator and would therefore be a demarcation boundary. Course dates and issues around availability would be part of my responsibilities, as I would need to ensure that I maximise attendance and provide timings and dates that were feasible and appropriate. Other responsibilities wou ld be in assessing the needs of the students prior to the learning. I would include, in any pre-course literature, questions around special requirements / reasonable adjustments so that I could make the environment inclusive, safe and learner-friendly. I would also include a learning styles questionnaire, either VAK (Visual, Auditory, Kinaesthetic) or Honey and Mumford which is based on Kolb’s experiential learning cycle. I might also include questions around levels of understanding / experience in the management arena. This information would then inform the development of course materials that catered for the range of learning styles and differentiation in learners’ abilities. I would also be responsible for arranging suitable accommodation for the training including a classroom layout conducive to learning and the resources necessary to support the course materials. In management training it may be appropriate to have PowerPoint presentations, case studies and management DVDs. In terms of working within boundaries at this stage I would need to ensure that timings, dates and literature were in accordance with diversity and equality policies and did not exclude potential candidates. I would also need to ensure the safe-keeping and confidentiality of anything dislosed in the completed pre-course questionnaires. Responsibilities and boundaries in planning and designing At Stage 2, Planning and designing, my responsibilities would include reviewing the ‘needs’ questionnaires to prepare and design the course. If the course was new, I would need to research the internet, consult management books and theory and source materials from colleagues. I might also purchase appropriate support materials such as management styles questionnaires, DVDs etc. If the course was an existing one, I would review the course content to ensure that it was inclusive, contextualised to the learners’ experience, compatible with the learning styles of the learners and at an appropriate academic level to both meet assessment criteria and meet the varying learning needs of the learners. If necessary, I would need to tailor the course providing additional support for the differing academic levels of the learners I might consult internal verifiers or other colleagues to ensure that my course content was appropriate and engaging for the learners. I have often piloted courses to test their effectiveness. My responsibilities at this stage also include preparing aims, objectives, lesson plans, schemes of work and assessments. I would also need to design flipcharts, posters and handouts. The boundaries at this stage include budgetary and time constraints which may affect the quality of the course materials. I must also again make any reasonable adjustments with materials e. g. font size on handouts / PowerPoint presentations adjusted to meet the needs of learners with a visual impairment. I once had to recruit a signer for a deaf learner. I must also ensure that my materials do not breach copyright and licencing requirements. Responsibilities and boundaries in facilitating and delivering learning At Stage 3, facilitating and delivering the learning my responsibilities are extensive. Using my personal presence, presonal example, charisma and tools such as ground rules, I need to create the right first impression to ensure that my learners are aware of their responsibilities within the learning environment. I try to create an environment of support, collaboration and mutual respect. I am responsible for ensuring inclusivity of the learners and celebrating their diversity. I have a duty of care in respect of my learners and should get advice and guidance from my fellow professionals in areas I am unsure of. The environment should be in accordance with Health and Safety requirements allowing free movement and access, no trip hazards, safe, tested electrical equipment. I need to create a psychologically safe environment without intimidation or disrespect. I would do this by challenging inappropriate behaviour and encouraging positive behaviour. I could also refer learners back to the ground rules. Depending on the learning needs / progress of individuals I might need to adapt and target some parts of the course content. I need to minimise jargon and adapt my language and style to the needs of the participants. I need to create opportunities for networking, self-development and experimentation. I must also be aware of any perceived or real barriers to learning and make appropriate interventions. To do this I would confer with teaching assistants or ‘privately’ discuss any issues directly with learners. My presentation style should be engaging, motivational inspirational and thought-provoking. I should keep the necessary records to evidence learner attendance and attainment. My exercises should cater for the varying learning styles of the group. I can employ the assistance of other professionals such as teaching assistants to provide learners with any learning / motivational support or personal care. This is another area of demarcation for the teacher. If there are personal issues creating barriers to learning, then I should know the boundaries of my responsibilities and when to refer to other professional bodies. Other boundaries would include maintaining a professional distance and not becoming too familiar with learners. The use of personal email addresses, personal mobiles numbers and social networking sites would overstep the boundaries of professional conduct. I should also be careful not to favour individual learners or discriminate or exclude learners adhering at all times to diversity and equality requirements / policies. I should maintain confidentiality, agreed as part of the ground rules. Records should be kept safe and confidential. Responsibilities and boundaries in assessing At Stage 4, Assessing, my responsibilities are to set appropriate assessments that comply with the criteria set by the examining board. I also need to comply with any requirements / adjustments advised by the external and internal verifiers. I have a responsibility to ensure that assessments are accessible, with any reasonable adjustments made. I need to ensure that any examinations are conducted appropriately in accordance with guidelines set by the examining board. I need to ensure objectivity, equality and fairness in my grading and marking of assignments. I also need to complete my marking in a timely manner to ensure that learners receive feedback as soon as possible. Feedback on assigments would be written or vebral if additional support was required. Feedback should be constructive, balanced, supportive and helpful. I need to follow the correct procedures for referring or failing students that do not meet the assessment criteria. I should ensure that assessment records are captured correctly and stored safely, ensuring confidentiality. The responsibility areas outlined above illustrate the boundaries that must be adhered to data protection, confidentiality, bjectivity, equality and fairness. Responsibilities and boundaries in evaluating Stage 5 is evaluation. As a teacher I need to review the course once it has concluded. Evaluation methodology employed might include post-course questionnaires, budgetary analysis, return on investment exercise, outputs from exercises and assessments, teacher observation, reflective diaries, peer ob servation, feedback from external and internal verifiers and ultimately the assessment results. I should analyse what went well and what needs to be improved. Boundaries at this stage would be my ability to be objective and barriers to receiving / accepting feedback. 2. Identify the key aspects of current legislative requirements and codes of practice relevant to your subject and the type of organisation within which you would like to work. In my former role as a trainer in the Civil Service, I was subject to the Official Secrets Act, the Civil Service code of conduct and to various HR policies. These governed my personal behaviour towards others, my integrity and my professionalism. Failure to comply might lead to grievances, disciplinary procedures and employment tribunals. In her book Preparing to teach in the Lifelong Learning sector 2011 (P9), Ann Gravells lists codes of practice and legislation relevant to the training arena. I have considered their relevance to my role and subject area. Code of Professional Practice 2008 by the Institute for Learning is a useful guide as to how teachers should behave and the professional boundaries that they should work within. This code covers such areas as integrity, respect, care, practice, disclosure and responsibility. Copyright Designs and Patents Act 1988 – I would need to ensure that the support materials used did not breach this legislation. I would need to acquire permission or purchase licences for relevant work that I wished to use. Data Protection Act 2003 – this governs the type of data kept about my students, information held should be restricted to what is relevant for my purposes and role. Data should be up-to-date and accurate. This also governs the security of information. Confidentiality and safe keeping being of the utmost importance. Equality Act 2010 – this legislation was designed to protect individuals from unfair treatment and discrimination and advance equality of opportunity. It protects individuals on the grounds of gender, race, ethnicity, religion, age, disability and sexual orientation. As a teacher I should be aware of my own prejudices and ensure that I do not exclude, discriminate or treat unfairly any of the learners in any way that contravenes this act. Further to the Equality Act, there are often organisational policies relating to Diversity which means that as a teacher I should accept and celebrate the diversity of the learners, enabling and valuing the contributions of individuals. Freedom of Information Act 2000 – this legislation is around the rights of the public to information held by authorities. This information could be anything that might be in the public interest to know. The ‘public’ therefore includes the learners. As a teacher I need to ensure that any records kept are accurate and relevant and contain nothing that I would not wish the learners to see.. Health and Safety at Work Act 1974 – relates to the responsibility of everyone in the workplace to take responsibility for ensuring the workplace is healthy and safe. As a teacher I would need to be aware of my responsibilities and ensure that learners are aware of their responsibilities. Responsibilities include interventions to rectify issues e. g. removing a trip hazard. Reporting accidents and near misses is another responsibility. Aslo reporting any issues that you are unable to address yourself. I would also add the requirement for a Public Performance Licence. This would be held by the organisation you work for. If you play recorded music or music videos in public – including radio or TV – you are legally required to have a PPL licence.

Strategic Global Management

Multiple-choice Chapter 6 Which of the following is not true for a capability? A) it cannot be traded B) it changes over time C) it can be easily described in detail D) it can improve value Which of the following is not a necessary condition for the effective implementation of a pay for performance system? A) employees must be able to control the pace of production B) there should be a lower bound on product qualityC) managers should receive a high bonus for the piece rate work of their employees D) team members should have roughly the same preferences for effort Which of the following is not an activity in the value chain? A) outbound procurement B) marketing C) technology development D) operations Chapter 7 A key assumption underlying theories of vertical integration is: A) Opportunistic behavior B) Suppliers and buyers have the same size C) Suppliers and buyers are located in the same country D) Firms are boundarylessIn the strategic sourcing framework, firms vertically integrate when A) the firm’s need to control and its ability to perform an activity are both high B) there is high uncertainty surrounding the transaction with the supplier C) the need to control and the ability to perform the activity are uncorrelated D) the supplier has invested in high technology 14. The two most studied types of uncertainty that influence vertical integration decisions are: A) exchange rate and volume B) labor cost and technological C) material cost and labor costD) volume and technological The standard theory of vertical integration over the industry life cycle states A) vertical integration occurs primarily in the early and late stages B) vertical integration increases in the shakeout C) vertical integration increases throughout the life cycle D) vertical integration decreases over the life cycle Chapter 8 Which of the following is generally a motivation for the formation of technology partnerships among large firms? A) coalition formation in the context of stand ards competition B) sharing complementary technologiesC) interfirm learning of process innovations D) all of the above In which industry are partnerships based on patent sharing prevalent? A) data communications B) semiconductors C) biotechnology D) pharmaceuticals When does the ability of a potential partner to cooperate effectively become apparent? A) when it promises to follow the rules of the alliance B) when it is certified by an appropriate agency C) when the network of partnerships in the industry develops D) all of the above Chapter 9A nationally segmented industry is one in which: A) country specific advantage and firm specific advantage are both high B) country specific advantage is high and firm-specific advantage is low C) country specific advantage is low and firm specific advantage is low D) none of the above Which of the following promote technological spillovers within a region? A) managerial transfers B) labor pooling C) regional associations D) all of the above Por ter’s diamond model contains which of the following factors? A) technological spilloversB) cultural constraints C) export policies D) demand conditions Chapter 10 Which types of new business will a corporation’s financial capital contribute the most to? A) larger businesses in mature industries B) smaller units in growing industries C) larger businesses in growing industries D) smaller units in mature industries Diversification paths of firms in the same industry vary across countries because: A) the resources and capabilities of the firms in the same industry differ systematically across countriesB) countries differ in the institutions that present diversification opportunities C) countries are located in different geographical locations D) the firms’ top management teams differ systematically across countries When an acquisition announcement occurs, acquisition targets often tend to: A) Enjoy a positive stock reaction B) Suffer a negative stock reaction C) Mai ntain their stock price D) Outsource more Chapter 11 Traditionally, firms that have grown through unrelated diversification have faced which of the following problems?A) the businesses were managed to support short-term corporate financial goals B) the complexity of the business portfolio exceeded corporate management’s capability C) there was no enduring economic rationale at the level of operations for the business units to be in the same corporation D) all of the above A transfer using a mandated market price is most effective when the downstream unit A) is attempting to establish its market position based on a cost advantage B) is attempting to establish its market position based on a value advantage C) has already achieved a dominant market position D) has failed to achieve a dominant market positionVertical integration, as represented among profit centers in a multi-business firm, is A) always superior to transactions in the market B) never superior to transactions in t he market C) not necessarily superior to transactions in the market D) none of the above Open questions Describe the two key strategic motivations for international expansion? Why do multinationals emerge? How have Zara’s practices and policies regarding its boundaries contributed to its growth and performance? What was the source of tension between Stephen Davies and Christopher Carson in the BRL Hardy case? What are its strategic implications?