The, Wesley The Process Theologian, And Matched With Notes...

This paper is centered around Dr. Cobb’s essay, â€Å"Wesley the Process Theologian†, and matched with notes on John Wesley from Dr. Hughes lectures in Protestantism in the Modern World. Through the course of this paper, the concept of process theology will be discussed along with how John Wesley’s own thoughts and ideas compare to process theologies conceptions. Through comparing these two’s individual ideas, I will add my own insights and thoughts on the possibility of common ground between the two; from the view of an outsider whose own beliefs have been shaped considerably from my own experiences. Though I am in no way an authority on any of these subjects, I hope that my point of view will be enlightening. Along with this, I’ll strive to support many of my claims about God through scripture, for regardless of man’s interpretation of the bible, it’s one of Christianity’s main sources of authority. Before diving into the main girth of this paper, it will be important to note at this point one crucial detail, which may sound counter-productive towards the concept behind this paper: John Wesley is not a process theologian. This is for a very practical reason, Wesley lived in the 18th century and Alfred North Whitehead, the developer of process theology, lived in the mid-19th to the 20th century. As commented on by Cobb in the beginning of his paper, â€Å"historical influence does not work backwards† (Cobb, 1). Wesley’s teachings did not derive from a process theology standpoint norShow MoreRelatedJohn Wesley, Protestantism, And The Testament Of The Bible Essay1808 Words   |  8 PagesJohn Wesley, Protestantism, and the Parallels to Process Theology. A commentary This paper is centered around Dr. Cobb’s essay, â€Å"Wesley the Process Theologian†, and matched with notes on John Wesley from Dr. Hughes lectures in Protestantism in the Modern World. Through the course of this paper, the concept of process theology will be discussed along with how John Wesley’s own thoughts and ideas compare to process theologies conceptions. Through comparing these two individual ideas, I will add myRead MoreOrganisational Theory230255 Words   |  922 Pages. Organization Theory Challenges and Perspectives John McAuley, Joanne Duberley and Phil Johnson . This book is, to my knowledge, the most comprehensive and reliable guide to organisational theory currently available. What is needed is a text that will give a good idea of the breadth and complexity of this important subject, and this is precisely what McAuley, Duberley and Johnson have provided. They have done some sterling service in bringing together the very diverse strands of work

Converting Energy Essay - 824 Words

Converting Energy 1 The Law of Conservation of Energy states that energy can neither be destroyed or created, only transferred or transformed. That being said, each form of energy has the ability to be converted into another form of energy. And since there are several forms of energy, that makes many different conversions achievable. Almost all technological gadgets convert one energy form into a new one. The vast number of devices that can convert energy into other states of energy are termed transducers. A few types of transducers are antennas, Geiger-Mà ¼ller tubes, microphones and even the human ear. Many kinds of energy are used to do a wide variety of physical work. Radiant energy such as solar power takes energy from the sun†¦show more content†¦Of course it is still very tempting to want to use fossil fuels because they can be far superior to other energy sources. Fossil fuels can provide a bigger quantity of electricity and an added bonus is that they are a great deal cheaper to utilize. Overall they are more efficient and easier to work with. America and other parts of the world take advantage of using them for so many processes. We use them to make plastic, medications, tar, to heat homes, and produce steel. The uses for fossil fuels are endless and they are so significant to the world we live in today. However, we are tremendously lucky that these fuels are still plentiful all around the world and not all gone from the exploitation of fossil fuels and demand for them too. Energy Alternatives 3 Naturally one of the best and most convenient energy alternatives to fossil fuels has to be solar energy. The most common way to harness solar energy is from really low maintenance solar collectors. These can be placed onto rooftops of homes and buildings to gather energy from the sun for heating and cooling as well. 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Challenges of HRM in the Global Environmentâ€Myassignmenthelp.Com

Question: What Is the Challenges of HRM in the Global Environment? Answer: Introducation In the contemporary business scenario, human resource management (HRM) can be defined as widespread in terms of strategies and organisational policy development. Modern HRM has replaced the traditional way of personnel management in the MNEs following the international settings. Precisely, human resource management involves academic theoretical concepts and modern business practices that can be utilised for managing the human resources in an efficient way (Demortier, Delobbe and El Akremi, 2013). Through the identification of the best theoretical concepts and management techniques, the terms of HRM has been set according to practices and disciplines. However, in the competitive business status, MNEs operating at the international level must identify the challenges associated with the HRM in the global environment to structure the best practices according to the order. In the rapidly transforming corporate landscape, the evolution of the HRM is required so that HRM can deliver the app ropriate business-driven functions leading towards a strategic corporate direction. In the particular essay, the HRM functions in the global environment have been analysed on a brief note to understand the foremost challenges of HRM in the international business context. As the current business world alters at a substantial pace, HR professionals need to make significant adjustment dealing with the local as well as international HRM issues associated with the context of business. In addition, identifying the HRM issues will not be enough to mitigate the problems (Guest and Conway, 2011). Evidently, defining the problem suitable solutions must be evaluated in order to achieve the desired result. The main purpose of the essay paper is to identify the leading human resource management challenges. By elaborating the challenges of HRM, the study has provided a list of recommendation that can be taken into consideration to put an end to the issues. Perhaps, the proactive approach should be shown in dealing with the management issues related at the international HRM as dis cussed in the study. Modern organisations must capitalise the alternating business environment through the implementation of better strategic decision-making. Therefore, the role of the HRM has become so crucial while establishing the management practices according to the internal strengths and weaknesses. By developing the most striking changes, HRM of an organisation can influence employee engagement, competencies of the human resources, and sustainability of workforce leading towards long-term viability of the business (Vashishth, 2012). Through the identification of the fundamental trends in HRM at the international level, organisational management can draw significant competitive advantage. Apparently, accurate human resource measures and planning as per the right prediction can deliver suitable strategic direction to the workforce. Precisely, integration of the objectives of both the organisation and HRM can be recognised as an essential aspect in HRM (Foot, Hook and Jenkins, 2016). Admittedly, gro wing business competition has increased the roles and accountability of modern HRM to reinforce the trend based on global perspective. In the context of business management, organisational HRM has adopted substantial resources such as internet and information technology (IT) to enhance the productivity of workforce minimising the organisational costs. On a bigger perspective, globalisation has increased the quality of HRM as new technologies and strategic management have been utilised by the HR professionals to achieve HR target in a cost-effective way (Fisher, Schoenfeldt and Shaw, 2016). However, IT and internet cannot be defined as the only major trends in developing the productivity of HRM at the global level. Notably, the changing workforce demographics have become one of the significant aspects in HRM (Dam, 2013). As a result of the consequences, the diversified workforce including different knowledge, culture, skills, and competencies, etc must be managed in an efficient way to draw competitive advantage. Herein, the identification of HRM challenges will become so much important. In the underlying section, th e leading challenges of HRM in the global situation have been illustrated. Linking the Organisational Strategy with HR Strategy and Practice The recognition of the link between the corporate and business strategies with the HR strategy and practices is not a new concept in the global business environment. The theory of McKinseys seven-S framework has been developed twenty years back to align the seven organisational variables such as strategy, subordinate goals, systems, structure, staff, style and skills for improving the effectiveness of the organisation (Dowling, Festing and Engle, 2013). On the other hand, the importance and role of human resources to organisation success has broadened due to knowledge driven and technology driven characteristics of businesses in the recent environment (Scharf, 2012). Global companies such as Coca-Cola have successfully evaluated strategic interventions and management model to link the corporate strategy with HR strategy and practices to achieve sustainability. Furthermore, with increased globalisation and competition in the market, the needs to link corporate strategy with HR policy have become important for the survival of the organisation in the global business market. Hence, it is important for the strategy makers to understand the changing business environment and link the business strategies with HR policies to seek competitive advantage and survive in the global industry. Hiring and retaining the best workforce in rapidly changing business dynamics In the contemporary business environment dwindling population of youth in the developed countries has contributed towards skill and knowledge shortages. Also, increasing rate of unemployment has become a substantial worry for HR Managers to select the best hiring and retention practices (Speculand, 2012). As a result of the consequences, cross-border migration can be identified leading towards demographic changes. For instance, McKinsey and Company, one of the leading consultancy services, has utilised modern hiring and retention policies such as online recruitment and staff performance evaluation to hire and retain the best talents at a lower cost. Therefore, modern HRM has to deal with cultural as well as demographic diversity to hire the human capital based on efficiency and talents (Jain, Rangnekar and Agrawal, 2016). Hence, the modern organisational HRM needs to set the best selection and recruitment policies for the different set of demographics i.e. young, people disabilities, aging people, and women etc. based on the scenario, it is one of the biggest challenges for the HRM to offer healthcare practices, flexible working schedule, and diverse management styles as per the suitability of the targeted workforce (Langley, 2013). Evidently, by offering substantial accommodation and compensation, HRM needs to promote employee retention as well. Aligning best technology practices to incorporate the Human Capital Prospects During the corporate strategic decision-making, identification of the steady improvement opportunities of the human capital should be important to analyse. In the global perspective, cross-broader management of human resources can be identified as one of the most comprehensive challenges for HRM (Reilly, 2015). By assessing the cultural differences and complexities of HRM, modern managers need to incorporate the human capital prospects in strategic decision-making by using communication technology. Most importantly, global growth of contemporary businesses hinges on the role of the HR leading towards integrating the labour force (Clancy, 2015). It is the responsibility of HR led teams to counter the differences in culture and workforce diversity so that dissimilarities can be merged wisely. For example, Apple Inc has utilised evident manufacturing technology to be the most innovative business and marketers. The sales and marketing strategies of Apple Inc have led to growth of the bus iness. By predicting the opportunities that can be offered by the human capitals, HRM needs to integrate the local culture with the international culture to improve the workforce efficiency (Jacobi, 2014). Meanwhile, understanding the diverse culture and inclusion of uniformity in management can be a tough task to be completed. Managing Global Operational Risks Invariably, balancing the corporate culture and societal culture can be identified as one of the most comprehensive issues in HRM while promoting workforce diversity (Bratton and Gold, 2017). Some of the most convenient cultural attributes can be modified according to the need of the target demographics. For instance, significant control management attributes can be altered. On the other hand, human right policies, ethical code of conducts, and integrity cannot be negotiated at any cost. Modern companies such as Google Inc have effectively identified the global operational risks to reduce the conflicts within the system. Precisely, the company has created a corporate culture to solve the issue. Based on the HR complexities, HR managers need to face challenges regarding bribery, confidentiality, integrity, loyalty, and other aspects (Ingham, 2010). Motivated by the organisation mission, vision, values, and ethics, it can be difficult to impose the most comprehensive cultural elements overwriting the existing ones. Therefore, maintaining the balance in corporate and community culture can be a leading HRM issue in the global environment. The Perceptive of subtlety of employees qualification to develop HR leaders In order to manage cultural diversity in the workplace, organisations need to develop HR leaders who are prepared to deal with the challenges regarding diversity. Precisely, educating the managers to develop the best diversity management practices is not an easy task, to say the least (McBain, 2007). Significant training and development programmes, learning courses, and investment will be required to establish the leadership traits. Moreover, communicating the culture and collaboration of the values can be other significant challenges in developing globally prepared leaders. Evidently, Microsoft Corporation has valued the understanding of subtlety of qualification and merits of the candidates to influence the productivity. During the management of cultural diverse workforce, the efficiency of the leader will be crucial to direct the employees towards the right direction. Herein, failing to complete the task can create substantial damage in productivity of the firm (Ax and Marton, 200 8). Therefore, it is a significant challenge for HRM to develop the best leaders who can control and manage diverse values, ethnicities, and policies at ease in the international environment. Maintaining a better understanding of Regulations and Legal directives The continuous up gradation in employment laws, regulations, and legal directives have also created substantial challenges for HRM. At the international level, HR managers need to have significant knowledge and understanding of regulations and legal directives regarding hiring employees, compensation and benefits, rights of the employees, safety and health practices etc. For instance, during selection and recruitment, the Disability Act, the Human Rights Act, the Discrimination Act, Health and Safety Regulatory Act, etc should be considered so that any legal obligations can be avoided (J. Phillips and P. Phillips, 2014). Alternatively, during the management of workforce, minimum wage rate system, workplace discriminations, and labour practices should be taken into considerations. Therefore, management of HR can be a constant challenge if any of the legal regulations has been ignored. In order to tackle the HRM challenges in global environment, a list of recommendation has been provided in the study as below that can be considered for betterment of the practices: Take Transparent and Positive Approach: In order to deal with the transitions affecting the productivity of the employees, transparency in communication must be introduced at the organisational forefront. Meanwhile, such influential communication approach can deliver tangible support to the employees dealing with the issues in the international human resource management (IHRM). Invest in the right technology-enabled collaboration: In the IHRM, selection and recruitment has been one of the major aspects. Therefore, through investing in right technology suitable for hiring, training, and appraisals, HR managers can increase the overall standards of the workforce leading towards sustainability. Consider Demographics: In the current scenario, considering the right set of demographics will be evident in IHRM. For instance, hiring the right sort of personnel equipped with experience, skills, and knowledge can save substantial capital for an organisation. Therefore, it will be significant to select the candidate from right demographics i.e. young group. Provide Training and Career development Programmes: In order to deal with the challenging issues of IHRM, suitable training and career development programmes must be introduced to develop strategic recruitment and selection procedure, crucial employee retention plan, and solving HR related issues in a more effective way. Promote Innovation and Change Management: In order to remain up-to-date with the latest HR trends, innovative concepts and ideas must be introduced among the employees. Alternatively, such efforts will increase to manage the process of change management that can be utilised to influence the diversified work culture in a positive manner. The role of human capital professionals has affected the business proposition of the leading corporate firms, to say the least. Creativity and innovation have become the need of the hour in mitigating the challenges with HRM in the global environment. Precisely, if organisational HRM can overlook the problems related to HRM, the effectiveness of scores will be reduced on a substantial note. As a result of the consequences, suitable human capital practices must be reinforced identifying the challenges affecting the performance of the firm in a negative way. Evidently, organisational people can be identified as the leading power of a firm. Therefore, the ability of the HR professionals can dictate the terms whether an organisation will be able to control the HR issues affecting the firms sustainability. By considering strategic vision and demographics, HR managers can replace traditional strategies with the new ones encouraging the workforce. Consequently, by promoting innovation and c hange management, the leading issues associated with the organisational human resource management can be dealt in a logical manner. Cultural diversity in HRM Employees are the backbone of every organisation that leads to the survival and success of the firm. In the current business environment, the workforce is made up of a diverse population of people belonging to different cultures and ethnic backgrounds. The cultural diversity in workforce creates multicultural and multiracial organisations that have both positive and negative implications of the organisational practices (Scharf, 2012). The international cultures or diverse workforce brings in better skills, experiences and abilities for the organisation to meet the growing challenges of global market. On the other hand, it becomes quite difficult for the human resource management to maintain a balance among the individuals belonging to international cultures in order to utilise the diversity of skills, competencies and knowledge (Losey, Meisinger and Ulrich, 2015). On the other hand, the global business environment has witnessed the importance of Human Resource Management in both public and business life. According to Sderlund and Bredin, (2016), the number of workers employed by the multinational enterprises has significantly increased in the last twenty years that have resulted from the expansion of the activities of the foreign affiliates of the MNCs across the globe. As per the study, around 73 million people work for the foreign companies in the year 2008, this is three times the population in the year 1990 (Rhodes, 2016). Currently, the figure has increased by around five times by the end of 2016. Hence, it becomes quite difficult for the Multinational organisations to control the diverse workforce with variation in cultural and ethical practices. Hence, every organisation needs to develop international HRM policies in order to maintain peace and harmony at workforce. On the basis of the above discussion, the paper has been developed to a nalyse the importance of considering the international culture while developing the HRM practices and policies. On the other hand, the study aims to discuss and evaluate the impact of international culture on the current human resource management policies and practices. Furthermore, the essay also presents necessary strategies that must be considered by the human resource managers of a global institution to control the diverse workforce and take advantage of the variations in skills, knowledge and capabilities. Most of the authors focus on the theory formulated by Gerhart Hofstede to understand the differences in international cultures. According to Hofstede (2001, p.25), culture is a mental programming or pattern of feeling, thought and action that an individual acquires in the childhood and applies throughout the life. The national culture is a category that is studied to explain different phenomena in the human resource management such as organisational structure, leadership style, and motivation. Moreover, the concept of differences between international cultures is proven to be suitable tool for developing the contents of HRM practise and policies for managing the individuals belonging to different regions (Snell, 2007). Furthermore, Hofstede (2001) differentiates the culture into a dimension on the basis of the relations between people. The dimension is known as Individualism and Collectivism. Alternatively, Fons Trompenaars differentiates the international culture on the basis of two dimensions known as individualismVs communitarianism and universalism Vs particularism. Additionally, the cultures can be differentiated on the basis of motivational orientation and attitudes toward time (Snell, 2007). For example, Hofstede identifies three dimensions on the basis of motivational orientation, namely femininity Vs masculinity,power distance and amount ofuncertainty avoidance (Hofstede, 2001). On the other hand, Trompenaars identifies two dimensions on the basis of attitudes toward time namely outer Vs inner time and synchronic Vs sequential. In the same manner, Hofstede also differentiates the socio-cultural dimension according to the attitude toward time as a short term Vs a long term orientation. Henc e, the differences in the cultural dimensions explained by Fons Trompenaars and Greet Hofstede can be used to understand the variations in the national culture (Snell, 2007). In addition, the theories can be applied in order to observe the implications of international culture over the HRM practices of different organisations. The cross cultural management issues are faced in a range of business activities especially in the human resource management functions of an organisation. In the current business environment, the management of geographically dispersed workforce belonging to different cultural background has emerged with a new segment of HRM that is known as International Human Resource Management (IHRM) (Machado, 2015). The primary objective of the IHRM is to manage the cross cultural conflicts and develop a workforce that will enhance the performance of the organisation. However, the internationalisation of businesses has made it important for the management to make changes in the way it operates in the domestic country. The primary level of changes has been evident in the field of human resource management. For example, it is important for the HR managers to consider the local laws and regulations of the host country. On the other hand, the behavioural changes and practices of the local people must be considered while planning the HRM practices and policies (Morley and Scullion, 2014). Any sort of misconduct can lead to adverse legal implications and loss of internal reputation of the firm. Hence, with increased globalisation of business, the HRM practices and policies are highly impacted by the differences in the international cultures. The inability of the management in considering the cultural differences among the workforce can result in adverse implications over the performance of the organisation. The challenge of workplace conflicts increases with variation in culture and inappropriate management of the workforce activities (Nkomo, Fottler and McAfee, 2015). Furthermore, it is important for the HR managers to understand the behaviour and cultural practices of the local employees in order to minimise the conflicts and develop a corporate culture in the firm. On the other hand, it is important to note that the influence of international cultures on the HRM practices in the multinational organisational can be analysed and monitored in all its segments. Hence, the paper analyses the impact of certain dimensions of international cultures on the key functions of the Human Resource Management, such as recruitment and selection of applicants, training and development of workers and performance appraisal and remunerati on of the workforce. Recruitment and Selection The differences in the international cultures have several impacts on the recruitment and selection procedures used by the multinational organisations. For example, the values of the recruiters influence the sources of recruitment used by the HR department of a firm. According to Holbert (2016), if the recruiters come from the region having individualistic values, the HR department will use the recruitment sources such as newspaper advertisements, employment agencies, online recruiting and other sources that do not have personal contacts (Holbert, 2016). Alternatively, if the recruiters belong to a region with collectivistic values, the HR department primarily uses the relationship or personal oriented recruitment sources such as networking at job fairs and referral of other employees. The differences can be evident by observing the recruitment sources used by multinational companies like Apple Inc and domestic companies like a retailing store in Asia. It can be seen that Apple uses recruitment sources that do not have personal contacts. On the other hand, a retail store in China will use sources with personal contacts to recruit a new employee. Moreover, the system of values of the candidates also influences the recruitment process. For example, if the applicant belongs to individualistic values, it is assumed that the individual will prefer an organisation or job that will enable the person to express their personal quality and achievement (Jain, Rangnekar and Agrawal, 2016). The applicant will prefer to work in a job that offers opportunity for advancement and degree of autonomy. On the other hand, if the candidate has a collectivistic value, the individual will apply for job that will offer them to work in a cooperative environment within a team. In the same way, the differences in culture also influence the selection process of an organisation (Sderlund and Bredin, 2016). For example, the selection criteria used by Apple Inc. in the United States will be q uite different than in China. The recruiters of Apple in the United States will prefer applicants who have individualistic values and focuses on results by working proactively and autonomously. In the case of China, the selection criteria of Apple Inc. will focus on choosing an applicant from collectivistic culture who will be willing to work in a group. Hence, the recruitment and selection function of the Human Resource Management Practices is highly influenced by the differences in the international cultures. Training and Development The differences in the international cultures also influence the training and development programmes of an organisation such as McDonalds. For instance, a strict and formal way of communication is used to interact between the coaches and trainees in high power distance cultures. Moreover, the influence of the culture can be evident in the design of the training and development programmes. According to the researches, it can be seen that Anglo-American employees with individualistic culture prefer goal oriented and individualised training programmes with a competitive learning environment in company like McDonalds (Parry, Stavrou and Lazarova, 2013). Alternatively, employees of Latin America with collectivistic cultures working in McDonalds are found to prefer informal environment and unstructured training methods during the training programmes that focus on experimentation and active participation. Furthermore, the employees from Asian culture in the same organisation prefer training methods based on group performance using formal training sessions (Holbert, 2016). The Asian people working in a multinational company also prefer a cooperative learning environment that will promote knowledge sharing and mutual benefit of the participants. On the basis of the differences in culture and background of the majority group, the multinational organisations need to make changes in the training and development practices in order to manage the preferences of the employees. Hence, the differences in the international culture have a direct impact on the training and development practices of a global firm. Performance Appraisal and Remuneration Finally, the differences in international cultures also influence the performance appraisal system of a multinational organisation. The influence of culture on the performance appraisal system can be identified at every stage of the process. Firstly, the culture affects the criteria that are used to measure the performance of the employees as well as the techniques that are used by the HR management to provide feedback to the workers (Rowley and Warner, 2013). In order to understand the influence of culture on the performance appraisal system, the two different types of criteria namely the contextual performance criteria and task performance criteria are used. According to research, the individualistic culture prefers using the task performance criteria for evaluating the hard work of the employees. For instances, Google uses the task performance criteria with the employees in the United States. According to this criteria, the performance of the workers are compared to organisational standards, responsibilities and task determined in the job description of a particular position (Filstad and Gottschalk, 2010). Alternatively, the collectivist culture prefers using the contextual performance criteria for judging the work of the employees. The contextual performance criteria makes the HR managers evaluate the performance of the workers on the basis of their innovativeness, cooperation with the team and assistance provided to others. In the same manner, Google uses the contextual performance criteria in dealing with the job performance of the employees in China. In other words, the individualistic culture manager emphasises on evaluating performance on the basis of individual performances, while the collectivist managers emphasises on group results and teamwork. It is important for the international HR managers to identify the cultural differences among the workforce and develop a better understanding of the cultural practices of the individuals belonging to different regions (Schuler and Jackson, 2007). A proper understanding of the culture helps the HR managers of multinational organisations to develop HRM practices to meet the different needs of the workforce. In order to manage the cultural diversity of the workforce, the managers must recognise that the people have differences, be they physical, cultural or generational (Speculand, 2012). The managers must celebrate the differences by encouraging the employees to show their individualities. The encouragement of showing their differences will help the management to utilise their knowledge to grow the business over the global market. Furthermore, the managers must focus on knowing their employees by encouraging them to interact with the management team. The attitude of the employees must be assessed while conducting employee reviews and assessments. It is the responsibility of the managers to identify and monitor the problems faced by the employees of the minority groups while working in the organisation (Sparrow, 2009). The HR managers must discuss the issues with the employees in a non-argumentative manner. Additionally, the managers are also responsible to develop strategies to mitigate the issues faced by the minority groups. For example, the managers must encourage employees to work with other workers belonging to different cultures or generations. Hence, it is important for the HR managers to focus on developing international HRM policies that will mitigate the issues of cultural differences. The recruitment and selection methods must be developed keeping in mind the culture of the majority groups of the country in which the company is operating (Sparrow, 2009). On the other hand, the international human resource managers must focus on developing corporate culture to mitigate the issues of cultural differences. Corporate culture can be implemented by promoting employee voice arrangements and encouraging workers to speak about their problems (Vashishth, 2012). Finally, cross-cultural training programmes can be initiated to influence the individuals to work with people belonging from different cultures and ethnic backgrounds. On the basis of the above analysis, the global Human Resource Management faces the issues of cultural differences that impact the HRM practices of the organisation. It is important for the international human resource managers to understand the differences of international cultures in order to develop adequate HR policies for the diverse workforce. Additionally, the HR managers need to promote corporate organisational structure in order to encourage the employees to interact with the management and identify the cultural issues faced by the workforce. Conclusively, the HR management policies must be developed keeping in mind the differences of the international culture in order to seek success in the current global business environment. References Ax, C. and Marton, J. (2008). Human capital disclosures and management practices.Journal of Intellectual Capital, 9(3), pp.433-455. Bratton, J. and Gold, J. (2017).Human resource management. 1st ed. London: Palgrave Macmillan. Clancy, P. (2015). Cultures, Compatibilities and Conflicts.Asia Pacific Journal of Human Resources, 23(1), pp.3-3. Dam, K. (2013). Understanding experts' attitudes towards functional flexibility.International Journal of Human Resources Development and Management, 3(2), p.138. Demortier, A., Delobbe, N. and El Akremi, A. (2013). Human Capital Contribution to Company Performance: HR Practices Effects and Human Capital Emergence.Academy of Management Proceedings, 2013(1), pp.12935-12935. Dowling, P., Festing, M. and Engle, A. (2013).International human resource management. 1st ed. Australia: Cengage Learning. Filstad, C. and Gottschalk, P. (2010). Collectivism versus individualism in police cultures.International Journal of Human Resources Development and Management, 10(2), p.117. Fisher, C., Schoenfeldt, L. and Shaw, J. (2016).Human resource management. 1st ed. Boston, Mass. [u.a.]: Houghton Mifflin. Foot, M., Hook, C. and Jenkins, A. (2016).Introducing human resource management. 1st ed. New York: Pearson. Guest, D. and Conway, N. (2011). The impact of HR practices, HR effectiveness and a strong HR system on organisational outcomes: a stakeholder perspective.The International Journal of Human Resource Management, 22(8), pp.1686-1702. Hofstede, G. (2001). Culture`s Consequences. Thousand Oaks, CA: Sage Publications Holbert, N. (2016). Leveraging cultural values and ways of knowing to increase diversity in maker activities.International Journal of Child-Computer Interaction, 9-10, pp.33-39. Ingham, J. (2010). Develop an HR 2.0 strategy.Strategic HR Review, 9(6). Phillips, J. and P. Phillips, P. (2014). Developing a human capital strategy in today's changing environment: eight forces shaping HC strategy.Strategic HR Review, 13(3), pp.130-134. Jacobi, J. (2014). Implementation of a cross-border social media strategy.Strategic HR Review, 13(4/5). Jain, R., Rangnekar, S. and Agrawal, D. (2016). Creating Intellectual Capital: A Role of Human Capital.International Journal of Knowledge Management and Practices, 4(1). Langley, J. (2013). Roll out a global recruitment strategy.Strategic HR Review, 13(1). Losey, M., Meisinger, S. and Ulrich, D. (2015).The future of human resource management. 1st ed. Alexandria, Va.: Society for Human Resource Management. Machado, C. (2015).International human resources management. 1st ed. Cham: Springer. McBain, R. (2007). The practice of engagement: Research into current employee engagement practice.Strategic HR Review, 6(6), pp.16-19. Morley, M. and Scullion, H. (2014).International human resource management in retrospect and prospect. 1st ed. Bradford, England: Emerald Group Pub. Nkomo, S., Fottler, M. and McAfee, R. (2015).Applications in human resource management. 1st ed. Mason, Ohio: Thomson/South-Western. Parry, E., Stavrou, E. and Lazarova, M. (2013).Global trends in human resource management. 1st ed. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan. Reilly, P. (2015). Managing across borders and cultures.Strategic HR Review, 14(1/2), pp.36-41. Rhodes, D. (2016). Can HR Respond to Corporate Strategy?.Journal of Business Strategy, 9(2), pp.57-58. Rowley, C. and Warner, M. (2013).Globalizing International Human Resource Management. 1st ed. Hoboken: Taylor and Francis. Scharf, E. (2012). Value Proposition and Human Capital: strategic marketing practices.Review of Business Management, pp.216-233. Schuler, R. and Jackson, S. (2007).Strategic human resource management. 1st ed. Malden, Mass. [u.a.]: Blackwell. Snell, A. (2007). Measuring the financial impact of HR: Defining and controlling the areas where HR adds cost and value.Strategic HR Review, 6(2), pp.28-31. Sderlund, J. and Bredin, K. (2016). HRM in project-intensive firms: Changes and challenges.Human Resource Management, 45(2), pp.249-265. Sparrow, P. (2009).Handbook of international human resource management. 1st ed. Chichester, U.K.: Wiley. Speculand, R. (2012). Why communication of strategy frequently fails.Strategic HR Review, 11(6). Vashishth, M. (2012). Role of IT in HRM: Opportunities and Challenges.Paripex - Indian Journal Of Research, 3(4), pp.159-160.

Summary canterville ghost free essay sample

There was a horrible storm that night, but apart from that nothing scary happened. The nextmorning, however, when the family came down to breakfast, they found the terrible stain of bloodonce again on the floor. Washington cleaned it a second time, but the second morning it appearedagain. The third morning it was there, too, although the library had been locked up at night by Mr Otis himself. The following night, all doubts about the existence of the ghost were finally removed forever. Ateleven oclock the family went to bed and some time after, Mr Otis was awakened by a strangenoise in the corridor, outside his room. It sounded like the clank of metal, and it came nearer everymoment. Mr Otis got up and looked at the time. It was exactly one oclock. So Mr Otis put on hisslippers, went to the door and opened it. There, right in front of him, stood the ghost his eyeswere as red as burning coals; long grey hair fell over his shoulders and from his wrists and ankleshung heavy chains. We will write a custom essay sample on Summary canterville ghost or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page ? My dear Sir,? said Mr Otis, ? you must oil those chains. Its impossible to sleep with such a noisegoing on outside the bedrooms. I have therefore brought you this bottle of lubricator, and I will behappy to supply you with more if you require it.? With these words Mr Otis laid the bottle down,closed his door and went back to bed. Shocked, the Canterville ghost stood quite motionless for a moment, but then he growled angrily. Just at this moment, the twins appeared on the corridor and threw a large pillow at him! The ghosthastily escaped through the wall, and the house became quiet again. When the ghost reached his small secret chamber, he took a deep breath. No ghosts in history hadever been treated in this manner!

Global poverty and education

In recent years, the transnational agencies launched a number of initiatives aimed at reducing worldwide poverty and improving international security. Criticizing the modernism and development theories which were used previously, the scholars made attempts to explain the major causes underlying the failure of the development efforts of the previous half a century.Advertising We will write a custom essay sample on Global poverty and education specifically for you for only $16.05 $11/page Learn More Refocusing on education development as the dominant discourse helpful for achieving the rest of the development goals is one of the most decisions made by the transnational agencies recently. This paper will discuss the criticisms of the development theories, the historical context of development efforts, the role of international and non-governmental organizations in multilateral education and solutions offered by contemporary scholars to enhance the effective ness of the launched programs. Current sociocultural perversion marginalizing the poor In modern world, all governments make efforts to not only protect their citizens but also to ensure their access to the basic services, including those of safe drinking water, health care delivery and education. Regardless of the fact that a wide range of domestic state institutions, international agencies and non-governmental organizations launch projects to benefit the poor, the poor perceive formal services as inaccessible and ineffective. The politics of representation of the Third World has had a significant impact upon the development discourse and formation of culture and subjectivities in developing countries. Escobar (1995, p. 215) noted that the very existence and status of the Third World is currently negotiated. The term of the Third World was created as an opposite of the First World denoting the countries which consider them as developed. The term has a negative connotation and remai ns an important construct used by those in power. Notwithstanding the chosen definition of modernity, the Third World should not be perceived as a uniform entity, but rather as a fragmented and polarized combination of diverse regions.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Since the 1980s, resistance to development expressed by the grassroots movements was one of the strategies through which the Third World made attempts to construct their unique identities. This struggle against the intervention of international organization aimed at modernization and globalization into the domestic affairs of the Third World was fundamentally cultural (Escobar, 1995, p. 216). Another approach used for negotiating the development of the Third World was a concept of hybridization of local cultures and modernity to receive a new entity. However, this biological interpretation cannot be applied to discu ssion of hybrid cultures as a combination of long-standing cultural practices and an incoming element of modernity integrated into the local cultures by transnational forces. With the advent of cyberculture and the global economic restructuring, the technologic gap between rich and poor countries has been dramatically increased. Consequently, rejecting to use some of the innovative technologies, countries of the Third World undergo the risks of becoming irrelevant to the world economy. Even though certain regions are involved into the processes of global economic integration, they remain marginalized from it benefits. As a consequence of the current state of affairs, this phenomenon is referred to as sociocultural perversion. The solution offered by Escobar (1995, p. 222) is a social reform for the Third World regions to reach the goals of technological modernization and competitive participation in the world economy with a special emphasis put upon the educational policies in these countries. Historical context and trends in multilateralism and education The development theories have a significant impact upon the strategies implemented by transnational agencies and non-governmental organizations in relation to education policies for the developing countries. The combination of state-centric, transnationalist and structuralist theories clearly demonstrates the variety of theoretical approaches to be considered to understand multilateral cooperation and the controversy over the objectives, processes and outcomes of education.Advertising We will write a custom essay sample on Global poverty and education specifically for you for only $16.05 $11/page Learn More The policy setting in UN education is a rather controversial and complicated process. According to Jones (2005, p. 23), the UN education process lacks harmony and consistency because of the multitude and diversity of educational issues around the world. Historically, education concerns were included into the UN charter during a conference in San-Francisco in April – June 1945. The lobbyist delegations from developing countries and the US-based groups were pressing for the education case, which was expected to contribute to international peace and security. Whereas the process of integrating the education concerns into the UN charter was rather smooth, the question of whether to establish a specialized agency focusing on education remained doubtful. In the year 1948, education was included into the Universal Declaration of Human Rights as a part of the UN program aimed at promoting peace and interdependence between the states on the global level. The entry of education as a multilateral concern into the programming of transnational agencies resulted in economic justification of education and consideration of the correlation between poverty of specific regions and the quality and accessibility of education programs there. Political multilateralism a nd economic multilateralism are the two major lines of thinking which had a significant impact upon the UN education programming. The goals of the global economic integration and governance were central to the multilateralism pathways chosen by the UN for promoting peace and security in the world. The links between material progress, security and modernization strategies have become explicit. Jones (2005, p. 31) stated that the circumstances on the international arena were favorable for this way of thinking. Since the mid-1980s, neo-liberalism theories influenced educational theories and became significant concerns in educational policies and practices. Discussing the issues of the complexity and diversity of educational system, Jones (2005, p. 42) used the term of structured anarchy to emphasize the collaboration and competition among the variety of the UN education agencies.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More The main principles which were prevalent in the organization of the UN education since the year 1945 when education concerns were included into the UN chart included globalization, security and multilateralism. The complex interplay of these principles was responsible for the education for all movement. The international organizations in construction of multilateral education Within the recent decades, the multilateral agencies, including those of the World Bank, UNICEF, UNESCO and UNDP, have been playing an important role in structuring the world education agenda. These agencies played a dominant role in formulating the International Development Targets (IDTs) and following Millennium Development Goals (MDGs), which became the basis for the education policymaking. According to Rutkowski (2007, p. 244), the main reason for which the international organizations had impact upon the education agenda on local, national and global levels was softness of the implemented strategies. At the World Conference on Education for All which took place in 1990 in Jomtien (Thailand) invited 155 national delegations from different countries a framework on providing access to primary education for citizens of all countries was shaped. According to King (2007, p. 379), the themes raised during that World Conference focused mainly on basic education associated with primary schooling. Moreover, regardless of the precise goals and time-bound target, the Jomtien Declaration and Framework were not prescriptive and were not shared by all countries. Ten years later after the World Conference in Jomtien, in the year 200, the World Forum on Education for All was held in Dakar. By this moment, it became clear that the target of achieving the universal primary education as it was outlined by Jomtien Framework within ten years was unrealistic. Six Dakar Targets were formulated at this Forum for expanding and improving access to primary education for children belonging to the most vulnerable and disadvantaged categories and ensuring gender equality in education. Just a few months after Dakar Forum, eight Millennium Development Goals were formulated at the global summit in New York. According to King (2005, p. 386), the peculiar feature of the Millennium Declaration was formulation of strict timelines for the targets related to the south and the absence of any time limitations in resolutions related to the north. The Millennium Declaration did not pay proper attention to the financial basis necessary for the realization of the offered targets. With its financing impact and the political force, the World Bank can be regarded as one of the strongest players in the sphere of multilateral education. Regardless of the fact that the World Bank as a UN specialized agency is better understood as a financial institution dedicated to borrowing and lending money, its political influence on the development strategies is obvious. Regardless of the fact that education is only a minor concern of the World Bank and the annual reimbursements dedicated to this area do not exceed 10 percent of the overall expenses, it addresses a wide range of education issues and is prominent in multilateral education. A significant contribution made by the World Bank to the global education agenda was the resurrection of interest in higher education which can be seen from the joint initiative of the bank and UNESCO, referred to as the task force on higher education and society (TFHES) (Jones, 2005, p. 135). Notwithstanding the significance of the World Bank and other international agencies, these were only a few players affecting the multilateral education agenda. The role of non-governmental organizations in realization of development projects The Western definition of modernity, according to which certain societies are recognized as more modern and developed than others and obtaining resources and knowledge to assist other less developed nations in achieving modernity, has critic ized as Western universalism. Elu and Banya (1999, p. 183) stated that this definition was used by the north or the so-called First World for inclusion of the southern societies into the north-dominated world. In the context of post-modern critiques, the diversity and complexity of the global development activities has increased resulting in proliferation of external and internal non-governmental organizations. As it has been mentioned earlier, regardless of all the efforts to reach the most disadvantaged groups of population, the formal services are still perceived as inaccessible by the poor (Narayan, 2000, p. 120). It is one of the reasons for which a growing number of aid agencies were turned into non-governmental organizations which can be more useful for launching the development projects and leading the resources to the poor. The other reasons for these changes are the growing interest among agencies in strengthening the developmental roles of institutions outside the public sector and the demonstrated potential of non-governmental organizations to reach the poor more effectively than the public agencies do. Therefore, the popularity of the non-governmental organizations as cost-effective alternatives to public development resources has grown. Elu and Banya (1999, p. 187) stated that Northern non-governmental organizations were frequently used for transferring the cultural awareness, values and patterns from the countries providing technical and financial assistance to the developing countries as recipients of this aid. Applying this perspective to the estimation of the role of non-governmental organizations, it can be stated that these establishments are frequently perceived as products of governments using them as temporary mediators for achieving specific political goals and expanding their influence. However, as it can be seen from the example of African voluntary development organizations, southern countries do not remain passive recipients of the aid provided by northern states but create their local non-governmental organizations as a response to the African needs. Then, the question of theoretical and practical relationships between external donors and the locally-based organizations is posed. According to Elu and Banya (1999, p. 190) a partnership between the northern and southern non-governmental organizations would be the most appropriate approach to enhancing the effectiveness of initiatives launched by both parties. Regardless of the obvious benefits of potential collaboration, the partnership between the rich north and impoverished locally-based organizations is associated with a number of dilemmas. Because of the inequality of resources, expectations and motivations of the actors, the effective partnership between the north and south non-governmental organizations is not achieved even though in theory the organizations agree that mutual relationship would be advantageous for them. Effective solutions for the educati on agenda The ineffectiveness of the initiatives launched by multilateral organizations can be explained with the lack of attention paid to the specifics of the education sectors in developing countries. A detailed education sector analysis can be an effective tool for empowering reform and development through the vast majority of studies did not address the issues of the sector structure in the context of the aid relationship. The need to simultaneously address multiple high priority goals, including those of improved healthcare and education appeared to be an unresolvable tension for Africa and other developing countries. Insufficient analysis of the specifics of situation in different countries significantly reduces the effectiveness of the programs and initiatives. According to Samoff (1999, p. 270), the main conclusion made by studies addressing the problems of education in postcolonial Africa is that the educational system is in crisis without specification of the underlying p rocesses and the most influential factors affecting it. The limited national control over the education sector analysis and insufficient sense of national ownership reduce the credibility and opportunities for the practical application of existing studies. The implementation of development strategies in specific locations can have a number of unexpected and even paradoxical consequences. For example, according to Pigg (1997, p. 259), the development implementation in Nepal was rather complex and had a number of local quirks. Thus, the highly trained Nepalese health care practitioners were unwilling to work in the countryside, whereas by providing training to the village practitioners, the development strategy increased their ambitions and enabled them to move to the urban areas. These unexpected consequences were not predicted before the launch of the initiative and prove the importance of conducting a thorough research of the local setting before the development implementation. Sim ilar concerns were raised by Demerath (2003, p. 137) who pointed out at the shifts in the social attachments and ideologies of individuals after their enrollment into the training programs which are a part of development initiatives. In other words, a careful sector analysis can be an effective tool for enhancing the effectiveness of the education agendas and other development programs. Analyzing the main reasons for the failure of the global development efforts over the decades, it can be stated that the enhanced partnership between a wide array of aid organizations and a more serious consideration of the peculiar features of certain settings is important for eliminating the deficits in the programs and enhancing the effectiveness of initiatives. Coxon and Munce (2008, p. 148) stated that external aid donating organizations can threaten the local ideas of what education programs should be. For this reason, indicating global patterns of power and influence, policymakers should consi der the specifics of local cultures and pay more attention to the opportunities of enhanced partnership among the different aid donating organizations. Conclusion Analyzing the criticisms of the main development theories and initiatives, it can be stated that the lack of attention to the specifics of the situation in developing countries and lack of partnership between different agencies are among the main underlying causes of the failure of the development efforts of the previous decades. Therefore, the emphasis on education-development relationship, education sector analysis and enhanced partnership between different agencies are essential for improving access to education, reducing the world poverty and enhancing international security. References Coxon, E. and Munce, K. (2008) The global education agenda and the delivery of aid to Pacific education. Comparative Education, 44(2), pp. 147 – 165. Demerath, P. (2003) Negotiating individualist and collectivist futures: Emergin g subjectivities and social forms in Papua New Guinea high schools. Anthropology and Education Quarterly, 34 (2), pp. 136 – 157. Elu, J. and Banya K. (1999) Non-governmental organizations as partners in Africa: A cultural analysis of North-South relations. In K. King and L. Buchert (eds) Changing international aid to education: Global patterns and national contexts. Paris: UNESCO Publishing, pp. 182 – 206. Escobar, A. (1995) Conclusion: Imagining a postdevelopment era. In A. Excobar Encountering development. The making and unmaking of the third world. Princeton: Princeton University Press, pp. 212 – 247. Jones, P.W. (2005) Education, multilateralism and the UN. In P.W. Jones The United Nations and education. Multilateralism, development and globalization. London and New York: Routledge Falmer, pp. 94 – 136. King, K. (2007) Multilateral agencies in the construction of the global agenda on education. Comparative Education, 43 (3), pp. 377 – 391. Nara yan, D. (2000) Can anyone hear us? Voices of the poor. Oxford: Oxford University Press, pp. 3-126. Pigg, S.L. (1997) Found in most traditional societies: Traditional medical practitioners between culture and development. In F. Cooper and R. Packard (eds) International development and the social sciences. Berkeley: University of California Press, pp. 259 – 290. Rutkowski, D. (2007) Converging us softly: How intergovernmental organizations promote neoliberal educational policy. Critical Studies in Education, 48 (2), pp. 229 – 247. Samoff, J. (1999) Education sector analysis in Africa: Limited national control and even less national ownership. International Journal of Educational Development, 19, pp. 249 – 272. This essay on Global poverty and education was written and submitted by user Brooke C. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

WWI Essay essays

WWI Essay essays World War I was supposed to be the war to end all wars- but it wasnt. The war was not necessary and to some unjust. How could such a terrible war start over an assassination? The truth is that it wasnt. The real cause of WWI a single isolated incident, but rather though a series of clumsy, complicated and miscalculated judgments. I would like to think of the First World War as a monument to mans stupidity and lust for power; thats the best way to sum up my findings. This not only can be found in the diplomatic practices of each leading European nations at that time, but also in its military planning and tactics. The truth is that after November 11, 1918 preparation for the next great war had already begun. WWI led to World War II in many ways because of the severe reparations against Germany. I believe the winning powers were so focused on reaping the benefits of victory that they repressed the needs/reconstruction of Germany (political, economically, and socially) resulting in unpredictable and uncontrollable actions. These were the same actions taken to allow the election of a new chancellor fifteen years later, which would soon lead to a dictatorship. The Austro-Hungarian Empire shared in Germanys hardship. In 1917 Austrias aged ruler Franz Joseph died and in 1919 its empire dissolved. The Ottoman Empire suffered also at the hands of The Big Four. It was stripped of much of its lands in the Middle East and would no longer be referred to as an empire. As for the Russians, they had internal problems of their own. Disgusted with the czars political and military leadership, the people revolted in 1917 and by the following year Russia had signed the Brest-Litovsk treaty resulting in peace, but at the lost of one million square miles. There were a lot of things lost during the years of 1914-1918 including lives, nine million to be exact. ...

(company law) What is meant by the statutory contract, and what is its Essay

(company law) What is meant by the statutory contract, and what is its importance for company law - Essay Example The limitation in the rights of the members could be attributed to the rights of the other members and also in the company’s separate personality which could call for the best interests of the company or the will of the majority to take preference. As a result, the multifaceted nature of this â€Å"contract† has created a demand for an additional directive in this area. The Nature of the Statutory Contract Contracts could be commonly found between two parties, consequently rendering third parties to intermittently acquire rights. These parties would in turn possess communal obligations as well as prima facie and any infringement is subject to an action for damages.2 On the other hand, the company contract could also be taken into consideration as unique. It covers several members making it imperative to determine who parties to it are and when it could be imposed. The requirements of Section 14 do not distinguish the company as being party to the contract instead it takes no notice of its separate legal unit, and grants only that it is compulsory as if signed and conserved by each member. Consequently, the shareholders are bound to the company and, even though not statutorily given for, the company is also bonded by the Articles, to the member. Nonetheless, the shareholders could solely implement their rights qua members3, at the same time as the articles structure a contract involving members which is generally solitary enforceable by means of the company, this is with the exception of the of member posses personal right5. On the other hand it should be taken into consideration that an â€Å"outsider† right, for example one not connected to the â€Å"collective constitutional rights† could not be imposed7. The term â€Å"outsiders† could include people such as directors. There are concerns shed over the modification

Seismic Hazards In the Region of Japan and Indonesia Essay

Seismic Hazards In the Region of Japan and Indonesia - Essay Example ‘Seismic Hazards’ and ‘Seismic Risks’ are often confused with one another. Seismic hazards may also be defined as any physical phenomena (for example, ground shaking) that are associated with an earthquake and that may produce adverse effects on human activities. It is restricted to the study of likely earthquake ground motions at any point on the earth. Seismic risk constitutes the results of a seismic hazard analysis, including both the consequence and the probability. Seismic risk is used to describe earthquake effects that include ground shaking, surface faulting, landslide, and economic loss and casualties (Algermissen 1). The following statement may help to distinguish between a hazard and a risk: Â   Â  A building located in a region of high seismic hazard is at lower risk if it is built on the basis of sound seismic engineering principles; whereas, a building located in a low seismic hazard zone is said to possess a high risk if not built in accord ance to the seismic engineering principles applicable to that zone.‘Seismic Hazards’ and ‘Seismic Risks’ are often confused with one another. Seismic hazards may also be defined as any physical phenomena (for example, ground shaking) that are associated with an earthquake and that may produce adverse effects on human activities. It is restricted to the study of likely earthquake ground motions at any point on the earth. Seismic risk constitutes the results of a seismic hazard analysis, including both the consequence and the probability. Seismic risk is used to describe earthquake effects that include ground shaking, surface faulting, landslide, and economic loss and casualties (Algermissen 1). The following statement may help to distinguish between a hazard and a risk: A building located in a region of high seismic hazard is at lower risk if it is built on the basis of sound seismic engineering principles; whereas, a building located in a low seismic hazard zone is said to possess a high risk if not built in accordance to the seismic engineering principles applicable to that zone. Probabilistic Seismic Hazard Analysis (PSHA) PSHA quantifies the probability, rather the rate, of exceeding the level of various ground motions at a site given all possible earthquakes (Field). Cornell was the first seismologist to develop this numerical approach to PSHA in 1968. PSHA involves three steps: 1. Specification of the seismic-hazard source model. 2. Specification of the ground motion model. 3. The probabilistic calculation. Hazard curves developed through PSHA show the likelihood of exceeding the various ground motion values at a specific site; on a typical hazard curve 10% probability of exceedance in 50 years is considered as one point. Actually, there is no alternative for a hazard curve to compare hazards at different locations. These curves are crucial in helping us to understand different types of ground motions. Not only this, the hazard c urve helps to determine the expected losses. Losses can occur from both frequent smaller events or from less frequent large events. An annual rate of exceedance versus peak ground acceleration (PGA) is defined as a hazard curve plot. An example is shown below: Seismic Hazard Analysis of Japan A group of island arcs related to various subduction zones constitute Japan. These islands stretch from the Kurile Islands in the northeast to the Ryukyu chain in the south. Japan uses its own seismic scale, in units of Shindo, to measure the strength of earthquakes. The JMA scale differs from other seismic scales in the way that it describes the degree of shaking at a given point on the Earth's surface. The magnitude of JMA scale is measured between 0 and 7. The JMA reports of earthquake level are based on the peak ground acceleration (PGA). A relationship of Shindo Number along with PGA and the effects on people, Ground and Slopes and Outdoor Situations (JMA) is represented in the Table below : Shindo Number Peak Ground Acceleration (PGA) People Grounds & Slopes Outdoor Situations 0 Less than 0.008 m/s? Imperceptible to people. 1 0.00

MANAGEMENT Research Paper Example | Topics and Well Written Essays - 1250 words

MANAGEMENT - Research Paper Example The strategic organizations are able to exploit the benefits and opportunities with clear targets as well as required resources and dynamism (Burkhart & Reuss, 1993). A number of businesses are analyzing and applying strategic planning concepts and methodologies that have major contributions to successes in the business fields. The fundamental notion of strategic planning is to create plans, which help businesses to undertake in an uncertain future and are founded on clear visions. The future plans may have several years of strategic planning. Sometimes, it may be as long as of two decades (Anthony & Young, 1999). Strategy planning can be described as â€Å"the plans and activities developed by an organization in pursuit of its goals and objectives, particularly in regard to positioning itself to meet external environmental demands relative to its competition† (Kovner & Neuhauser, 1990). Strategic planning for example Wal-Mart offers a clear outline and that helps in coordinat ion endeavors and harmonization of the company. Moreover, it helps companies to have better decision-making, good internal and external communication in addition to improved motivations amongst participating members (Begun & Heatwole, 1999). Strategic planning covers future decisions by human resources of organizations. Strategic Planning helps the management of company the needed direction and goals for internal as well as external environments. Strategic Levels The contemporary organizations generally implement many levels for successful running of the organizations (Beamish, 2000). Each strategic level aims at distinct planning tasks and objectives. The strategic levels are meant to apply the decisions made by businesses and their impacts on the organizations. Following are levels of planning strategies: 1. Corporate strategy 2. Business strategy, and 3. Functional strategy. Corporate level strategy covers the decisions the company made regarding allocation of resources to achiev e the desired goals. It also makes the decisions regarding new services and diversifications provided by the company. Business level strategy concerns with the decisions regarding how the companies would be competitive in the business environment for a particular service or product. Functional level strategy focuses on how a particular business would undertake and operate various business strategies. The successful application of the planning strategies might include modern systems, employment, and training of staff in addition to and the creation of new business partnerships. However there are certain limitations for many organizations to execute some specific plans. The best method for the execution of strategic planning involves both a strategy formulation process and an implementation procedure. Formulation of the planning strategy decides about the modus operandi and its execution. Both these procedures are strongly interrelated and could be assessed individually. Strategy form ulation Strategy formulation is a quite flexible process and is employed to evaluate or re-examine a company’s core values and philosophy. Moreover it helps in development of company’s plans to realize its targets and goals (Beamish, 2000). Following are the key determinants in the strategy formulation procedures: 1. Consensus of mission and vision 2. Environmental assessment, and 3. Setting goals and objectives. Mission/Vision A good strategic plan ensures that a

Report into Barclays Financial Performance Analysis

Report into Barclays Financial Performance Analysis The following report is aimed at comment the findings of Barclays PLC financial performance analysis. The first section presents an internal and external analysis. The second comments a series of financial ratios. Finally, the last section concludes. Introduction Banks are an important part of the financial system. They channel financial resources from individuals who have surpluses to individuals who lack capital. Banks transfer these assets in the form of loans. Loans are evaluated and classified according to the default probability (risk). In this manner, Banks assure that lenders invest their wealth in trustable projects, that is, economically viable (Arnold, G., 2008). Banks, then, subside the research task from lenders and allow them to get a safe and constant return rates in a determined timeframe and conditions (Valdez, S., 2007). As any business, Banks are aimed at increasing the wealth of the owners. Banks employ accounting systems and economic models to measure their financial performance. Accounting and economic models evaluate: 1) whether the wealth of the owners is augmenting, and 2) at what extent (Atril, P., McLaney, E., 2008). They provide several financial indicators which help business management to control the enterprise performance; among them, the financial ratios are widely used. The purpose of this report is to comment the findings discuss how bank (Barclays PLC) overall performance should be evaluated. The first section presents a review of Barclays internal and external performance. The second section evaluates Barclays financial performance. Finally, the last section concludes. A review of Barclays internal and external performance Barclays is one of the worldwide leaders in financial services. It was founded in 1690 in the UK. Barclays has operations in 50 countries spanning over Europe, the US, and Africa. Its headquarters are located London, UK and employs 153,800 people worldwide (BARCLAYS, 2009). Barclays retail banking includes personal customers, home finance, local business, consumer lending and financial planning (DATAMONITOR, 2010). Internal performance Barclays capital strength has provided the company with resilience to cope adverse market conditions. For example, the companys liquidity pool increased to  £127 billion at 31st December 2009 from  £43 billion in 2008. Hence, cash flows allow the bank to negotiate better selling conditions in their product portfolio (BARCLAYS, 2009). Barclays has kept its lending growth volume regardless global economic situation. The bank has reduced its derivative assets; therefore, its balance sheet size has been reduced (BARCLAYS, 2009). However, Barclays operations are threatened by its weakness in cost management. Its subsidiaries in Western Europe registered detrimental costs in 2009. Thus, the bank may face difficulties in its expansion plans (BARCLAYS, 2009). On the other hand, Barclays mobile banking services have experienced a significant growth due to smart phones popularization. This new service portfolio is likely to reduce workload in banks branches; therefore a significant cost reduction may be achieved during the fiscal year 2010. Even though, internet and credit transaction fraud has also risen. Hence, information security investments may undermine cost management accomplishments (BARCLAYS, 2009). Barclays is pursuing to expand its operation in India and UAE. Even the bank has been present in both countries since 1970s; it does not have a considerable penetration. These markets have attractive conditions to increase the bank market share. Therefore, an expansion strategy for India an UAE is foreseeable (BARCLAYS, 2009). External performance Barclays impairment losses in 2009 affected banks profitability. This effect was present despite balance sheet size reduction. Disposal of these legacy assets is one of the main banks objectives for fiscal year 2010 (BARCLAYS, 2009). UK government legislation regarding Asset Protection is aimed at improving customers trust by clearing up banks balance sheets. However, there is no a complete strategy on this matter. These uncertainties add pressure on financial markets, making difficult banks capitalization. Besides, a more competitive environment will be roomed (BARCLAYS, 2008). Finally, mergers and consolidation in banking industry will make more difficult, for Barclays, to adjust pricing levels and protect their market position. However, Barclays has the resources and skills to tackle challenging business environments (BARCLAYS, 2009). Barclays financial performance ROE ROE ratio presents negative trend in the last three years. The cause of this behaviour was the increase in the operation costs, 25%, plus a drop of 25% in the interest income. The net effect was a drop of drop of 77% in the net income in 2009. In 2008, Barclays acquired Lehman Brothers, thus, the total financial figures of the bank were affected. This buy clarifies the abrupt changes in costs and interest incomes. Positive results of this acquirement may be reflected in one or two years; it can be said that this normal behaviour of acquirements (BARCLAYS, 2008). ROA ROA was also hit by the Lehman Brothers effect; the indicator fell 50% from 2007 to 2009. Total assets were duplicated during 2008 and the net income after taxes was a little bit higher than in 2007. However, in 2009, Barclays made a restructuration in its total assets and was able to reduce them a 44%, that is, total asset were almost the same than in 2007. Unfortunately, net income after taxes also dropped 44%. ROA indicator was, then, almost the same than in 2008. ROA hid the company efforts to align the bank to the pre-acquisition levels (BARCLAYS, 2009). Net Interest Margin Net interest margin improved in 2009. It surpassed 2007 value. Assets are producing more Interest profit than in 2007. This can be interpreted as a positive effect of the Lehman Brothers acquisition, since the asset combination is generation more income. However, the increment in operation costs undermined the net effect of these results (BARCLAYS, 2009). DuPont This indicator clearly shows the Lehman Brothers acquisition effects. The equity multiplier registered a growth during 2008. The net profit margin was almost 300% higher than in 2007. However, the asset utilization went down 518%. The net effect was a low ROE (BARCLAYS, 2008). In 2009, the equity multiplier, and net profit margin felt down 49.48%, and 63.45% respectively; whereas, asset utilization grew 281%. Even though, ROE ratio was the lowest one in the studied period. This erratic behaviour was caused by the total asset amount. Each indicator by itself does not provide enough information regarding how well the company is doing it. For instance, asset utilization seems to be worst than in 2007, therefore, the implication would be that acquisition was a bad deal for the bank. In the case of the Equity multiplier, the conclusion would be the same. But, the net profit margin figure seems more realistic and clearly shows that a growth of 10% in two years justify the buy (BARCLAYS, 2008). The ultimate result is indicating that the new company is expected to have a return in equity of 6.28%. However, this metric does not include dividend amounts; thus, investing in the new Barclays firm may still be attractive. DuPont exercise shows that any indicator does not have all information at glance, thus, they should be used in combination in order to provide relevant and useful information. By decomposing ROE in three different ratios, it is possible to understand the effect of total assets and the operating revenue into the companys investing profile. Besides, it is clear the effect of the increment in the cost of the sales and operations. From the graph, it can be seen that Lehman Brothers firm made a massive sales and their expenses were under control. However, it can be inferred that liquidity may be one of the relevant factors that pushed former owners to sell it. This thesis is aligned to the main causes of the 2007s global financial crisis. Therefore, the acquisition w as justified and was a good opportunity to improve the banks financial performance (BARCLAYS, 2009). Net Interest Margin This ratio shows a negative trend. The lowest value was registered in 2008. However, during this year the interest income registered the highest value during the period. In 2009 the interest income dropped 24.18% but asset were reduced almost 50%. Even though, they continued 12.34% above the 2007 value. The net effect was 25.24% below the 2007 mark. It is important to say that 2009 is a good result and shows how the bank is trying to move the new company to the levels in which the former one was operating. It can be inferred that the strategy is to stabilize the bank and then increase the profits. Acquisition was, again, the event that impacted the ratio behaviour (BARCLAYS, 2009). Earning base Earning base is indicating that bank is acquiring more assets which are directly implied with the profit generation, that is, that it is lending more money to customers. It is clear that in 2008, due to acquisition, the bank owned a series of assets which were overloading the cost structure. In 2009, the situation improved since assets were re-structured and their number was reduced. This indicator should not be higher than 50%. The rational is that banks earning assets are loans, thus, bank should ensure they payment of those loans whit its assets. Therefore a healthy ratio level may be around 50% (BARCLAYS, 2009). Operating Efficiency Ratio and Wage ratio The operating efficiency ratio shows that bank is struggling with its operating expenses. In 2007, the ratio was 187%, which means that bank was investing two resource units to produce one. In 2008, this indicator grew almost 2.5 times. However, the bank made a very good effort and reduced the figure 32%. When wage ration is included in the analysis, it presents a drop in 2008, due to redundancy. However, the operation expenses did not diminished; therefore the operation efficiency ratio did not improve. It can be implied that work force is not the biggest expense, as many author claim, but a combination of inefficient process and asset sub-utilization. Unfortunately, annual reports did not provide deep information (BARCLAYS, 2008, 2009). Interest Income / Total Assets and Interest Rate Risk Ratio The first ratio provides information regarding how much interest income is produced by the total assets that bank owns. This indicator shows a growing trend with a little drop in 2008 due to the total assets acquired from Lehman Brothers. Thus, Barclays is improving its asset utilization. Talking about interest risk ratio, this indicator should be ideally around 100% to ensure that all loans are backed up with assets. However, the bank registered values below 10%. On the other hand, this indicator also shows a growing trend, which means that this figure is going to improve in the future. This indicator also supports the 2008 acquisition (BARCLAYS, 2009). Liquidity Risk Ratio Cash is the blood of the business. This ratio is relevant because indicates the capacity of the bank to convert its asset in cash. This indicator showed a negative trend with a peak in 2008. Its value has never been below 90% which indicates that bank has no cash flow issues. However, it highly depends in the asset restructuration. According to the 2009 annual report, asset management is one of the key objectives of the current management board. Thus, liquidity risk ratio will improve during the next years (BARCLAYS, 2008). Capital Risk Ratio Capital risk ratio shows at what extent the bank is prepared to afford its long term compromises. Values on this indicator shows that bank is in a very good position since its long term compromises do not represent a high percentage of its total assets; the lower this indicator the best. However, it shows a growing trend accelerated by the 2008 acquisition. It can be inferred that management team is trying to either improve the bank resource availability, by long-term instruments, or restructuring the acquisition cost. The peak in 2008 can be explained by the heterogeneous asset combination post-acquisition (BARCLAYS, 2008, 2009). Conclusions After analysing Barclays bank ratios, it can be inferred that the acquisition of Lehman Brothers was an organic growth during crisis times. Thus, Barclays took advantage of the economic situation in 2008. Its solid cash figures allowed the bank to reject the bail-out plan from the UKs government. This action increased the customer preference for the bank. After acquisitions, the ratios tend to show bad results. However, this is somehow expected, since new components are added to the operation and a new organization is created. In the case of Barclays, these variations were not significant to the overall company performance. Finally, internal and external performance measurement is a complementary part of the ratio analysis. Ratio analysis is highly dependent on accounting information and the standards to gather that info. Thus, the results may vary if another set of accounting rules is applied. Internal and external performance measurement provides the background information to understand the number, trends and behaviours of the ratio result. Hence, both analyses are complementary rather than exclusive. Ratios provide a standard and normalized way to compare and analyze information, but they are meaningless by themselves. Ratio value is important, but it adds nothing to management process if it is not translated into coherent and relevant series of events which explain the root cause of that percentage. Thus, a good selection of indicator and measurements will guide the company to better results.

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