Managing Financial Resources and Decisions Essay - 6

Managing Financial Resources and Decisions - Essay Example Failure to have a financial plan will always result in the organization being unable to meet its expenses whenever they arise (Berry, Jarvis, and Jarvis, 2005, p. 28). The success of any financial plan will largely depend on the effective disseminate of information to various decision makers within the organization. This is because it will ensure support and compliance among different stakeholders of the organization. It will also facilitate faster decision making which will ensure maximum utilization of business opportunities. Some of the key decision makers include: The CEO: he/she is responsible for the overall performance of the organization. The most important information for the CEO is the budget forecasts and financial statements. This information serves the purpose of providing information related to organizational needs and the overall performance of the business. The CFO: responsible for the allocation of the organization financial resources. The most important information for the CFO is the budget estimates because they present the financial needs of the organization. Other Employees: they are responsible for the running of daily activities within the company. The most important information is the company strategic plan which will guide their actions to ensure that the organization achieves its goals. The first option is the best among the three because the business will manage to get financing at no extra cost. The second and third options are not attractive because they result in payment of interest and issuance of stock respectively. Faulty arithmetic in the budget figures: the errors include the errors of commission or duplication of financial figures. For instance, Â £ 22,500 may have been duplicated on either materials or direct labor. The occurrence of reality: this is possible especially when there is an occurrence of an event that

Family Essay Example for Free

Family Essay Every time we have a family gathering in our house, informal debates are always part of the â€Å"program†. My family and I are delighted to involve talking about current issues especially that concerns the humanity’s welfare morals. It will start from simple talks and later become a big debate amongst our family members. It sounds funny but that is how we have our family gatherings. In fact, discussing current issues make our spirits alert and alive but if there is none, our gathering will become boring and seems incomplete. I personally really like exchanging ideas and point of views from others. Through them, I can learn many insights and know their position regarding the issue, whether they are pro or not. This kind of characteristic really runs in my veins. I am a kind of person that will truly stand for what I believe is right. I will never concede to a perverse beliefs and ideas. Even though I have this kind of attitude that like to debate even on simple issues, I do still have my friends that stick with. There are times that we argue on nonsense things that sometimes lead us to a â€Å"fight†. I can still remember one incident that I and one of my closest friends had a fight over on one issue and that is upholding the good morals. I know we have different views when it comes to that matter. She is quite liberated but I am a reserved and quite conservative type of person. So if we talked over on morality, our ideas always clash and it is not new to me at all. Yes, we are friends but I do not do what she does and she does not do what I do because of our opposite views when it comes to morality. The argument started when she confessed to me that she and her boyfriend had indulged into premarital sex several times. My initial reaction was shocked. I was not able to talk for a moment because of her confession to me. I was shocked with her confession not because the idea itself is new to me but because I was not expecting them do it. I trusted her boyfriend very much that he will not do anything wrong to my friend because I expect him as a person who wants my friend to be preserved even we are in this perilous times where our morals are already deteriorating. I am not against on the idea of having sex because it is a gift of God to be enjoyed by individuals specifically for the married people but doing it outside marriage is a very big â€Å"no, no† to me. And I don’t even say that I want her to be like me because I do believe on individualism. All I want to see is, she will learn how to respect her own self and not allowing anyone, not even her â€Å"beloved† boyfriend, abused her body and take advantage on her. In this modern world, several people either young or old, of legal age or not are into it. It becomes a trend of our society. If you don’t experience it, people will regard you as â€Å"loser† and coward but if you do, you will gain their appreciation and approval. See? This is how our world being corrupted of worldly pleasures. And I don’t believe that if everybody is doing it, it is already right. We have to uphold our morals as people and not letting the things of this world influence and corrupt our good character. That is one of my convictions as a person. Furthermore, she continued to relay to me the things they did in full details and silence came up in the atmosphere. I just allowed her pour out her heart on me. After a few minutes, I asked her why she sticks for that idea and permitted it to happen. But she only answered, â€Å"Why not? Everybody is doing it. And besides, we love each other very much. I was very annoyed and disgusted with her answer but I tried to hold back my temper and trying to make a â€Å"good† discussion with her regarding the matter. So, I continued asking her. â€Å"Do you think that is the only way you can express your love to your boyfriend? † I asked. Then, answered back â€Å"what do you mean? We do this because we love each other. Don’t you understand! And don’t you ever dare to dictate my life on what should I do. You are not my parents! † she exclaimed. Those words struck me a lot. I am just discussing this matter to her because I love her as my dear friend and I want the best for her. I am hoping that, through our discussion, she can be able to realize the possible things that might happen to her in the future if she and her boyfriend will continually indulge on it. So I told her that even though everybody is doing it, it doesn’t mean that it is already right. My point was, even though everything is permissible but not everything is beneficial. Everything is permissible but not everything is constructive. What seems right to our eyes may lead us into destruction. I told her that she is just destroying her life. Her dignity as a woman was lost. I am trying her to understand my point that I would just want her to preserve her virginity until she will get married because that would be the only best gift she can give to her husband aside from her precious love. But she chose not to understand my point because she was â€Å"extremely† in love with that guy. I can understand her feelings but I can’t tolerate her actions. What she only thinks is the present happiness and not looking for the possible consequences in the future. I told her that every action she will be doing has its consequence. It might be right or wrong. Then, I asked again. â€Å"What if you get pregnant? Is he willing to accept the responsibilities and marry you? † She was silent for awhile and thinking for an answer. â€Å"Well†¦My boyfriend loves me so much and I am pretty sure that he will! † she replied and I can see her trying to convinced herself as she said those words to me. â€Å"Oh, well†¦ if that’s the case, I can’t force you to listen to my advices. I respect your opinion and decision because that is your life. But, always remember that I am not intruding your personal life. I am just worried what might be the consequences of your action and if you are really ready to face that consequence. † I responded. So, that argument is closed and I am thinking that it will never be an issue again to both of us. As time passes by, she continued to share to me what she and her boyfriend were doing and it was all about their sex escapades. I do listen to her even I do not like what I am hearing. I am trying my very best to understand her and remind her that it is not yet late to change. But she will just tell me that there is nothing wrong with her. In fact, she is very proud to experience it. One day, she phoned me and asked if we can dine out. We went to our favorite restaurant. When I saw her, she looked restless and haggard. I smiled at her and asked, â€Å"What is wrong? How are you and your boyfriend? † She just smiled bitterly to me. â€Å"Why? † I asked again. â€Å"I am pregnant and I do not know what to do with this baby. † I just looked at her and never said anything for a second. â€Å"I will abort this baby! † She started to cry. â€Å"No! † I said. â€Å"Did your boyfriend learn about this? † What did he say? † As I asked those questions, tears kept falling on her eyes. â€Å"Tell me†¦ What did he say about the baby? † I repeated. â€Å"He wanted me to abort the baby? He doesn’t want to marry me because we are still young and he has no job yet. I told her to keep the baby and never mind her boyfriend. Anyway, she can take care and provide the needs of her baby if she wants to. But she told me straight on my face that she will abort the baby. Due to her confusions, abortion came up into her mind as an ultimate answer for her recent problem. I told her that she already committed sin once, the sin of committing premarital sex, and now she should not sin again by aborting her own child. It is not right. It is morally not right. You are killing an innocent child, a child that has no strength to defend and fight for himself. This time, I persistently argued with her not to abort her baby. I told her that the guilt will always haunt her for the rest of her life. She might escape the shame for having a baby without a husband but she will not surely escape the guilt that will forever haunt her conscience. She was very stubborn because she told me that she needs to abort the baby because she cannot handle the responsibilities and the shame. I told her that all those scorns from other people will just pass and never be remembered again as the time will pass but the life of her baby cannot be withdraw from death once it is aborted.

MBA Admissions Essay - My Three Most Substantial Accomplishments :: MBA College Admissions Essays

MBA Admissions Essays - My Three Most Substantial Accomplishments    Although trained as an engineer, my most substantial accomplishments have been in non-engineering sectors since the management and finance divisions of my company necessitated my involvement and a change in my career goals.    From the early 1990's, after the introduction of the free economy in Poland, almost all of our companies in our family owned business began losing money, and I needed to help save it. There I was, the poor little textile engineer, answering questions asked by people from Citicorp, the agents from Soros Funds, and many other local banks. Despite my lack of business expertise at the time, our issue was overbooked, and by the following three weeks we collected the money from the first privately issued bond in Poland. I worked with a team of highly dedicated and experienced professionals with degrees from the finest institutions of the world. Through teamwork, I helped to save my company; I consider this the biggest achievement in my professional life.    My second biggest achievement was again saving the company. Our biggest textile plant, consisting of about seventy percent of our group's asset, was bought through tender from the government of Poland under its denationalizing scheme. The payment was to be made through half-yearly installments, but our company began defaulting in late 1997. By that time Peregrine collapsed, and we were on our own. I proposed the board raise money by offering some of the company's vast vacant land for joint venture. Although the proposal was believed impractical and unattainable, I nevertheless contacted a number of multinationals. Only Cemex Cement of Mexico responded, but our deal eventually fell through and the government began preparing for takeover.    As a last minute resort to save the company, I prepared an attractive offer and contacted Scancem of Finland and Holderbank of Switzerland. Holderbank responded and opted for outright purchase of the land. However, they attached a condition that we complete all the formalities needed to set up their plant in Poland before they make any agreement with us. We agreed and started working on the endless list of permits, permissions and licenses that one faces by investing in Poland. I guided the whole process and coordinated the activities of engineers, lawyers, bureaucrats, financial advisors, etc. I also was forced to deal with the highest body of religious law, the Islamic Foundation, since there was a mosque in the designated plot and the mosque had to be relocated -- a very rare and sensitive issue in Poland. MBA Admissions Essay - My Three Most Substantial Accomplishments :: MBA College Admissions Essays MBA Admissions Essays - My Three Most Substantial Accomplishments    Although trained as an engineer, my most substantial accomplishments have been in non-engineering sectors since the management and finance divisions of my company necessitated my involvement and a change in my career goals.    From the early 1990's, after the introduction of the free economy in Poland, almost all of our companies in our family owned business began losing money, and I needed to help save it. There I was, the poor little textile engineer, answering questions asked by people from Citicorp, the agents from Soros Funds, and many other local banks. Despite my lack of business expertise at the time, our issue was overbooked, and by the following three weeks we collected the money from the first privately issued bond in Poland. I worked with a team of highly dedicated and experienced professionals with degrees from the finest institutions of the world. Through teamwork, I helped to save my company; I consider this the biggest achievement in my professional life.    My second biggest achievement was again saving the company. Our biggest textile plant, consisting of about seventy percent of our group's asset, was bought through tender from the government of Poland under its denationalizing scheme. The payment was to be made through half-yearly installments, but our company began defaulting in late 1997. By that time Peregrine collapsed, and we were on our own. I proposed the board raise money by offering some of the company's vast vacant land for joint venture. Although the proposal was believed impractical and unattainable, I nevertheless contacted a number of multinationals. Only Cemex Cement of Mexico responded, but our deal eventually fell through and the government began preparing for takeover.    As a last minute resort to save the company, I prepared an attractive offer and contacted Scancem of Finland and Holderbank of Switzerland. Holderbank responded and opted for outright purchase of the land. However, they attached a condition that we complete all the formalities needed to set up their plant in Poland before they make any agreement with us. We agreed and started working on the endless list of permits, permissions and licenses that one faces by investing in Poland. I guided the whole process and coordinated the activities of engineers, lawyers, bureaucrats, financial advisors, etc. I also was forced to deal with the highest body of religious law, the Islamic Foundation, since there was a mosque in the designated plot and the mosque had to be relocated -- a very rare and sensitive issue in Poland.

Philips vs. Matsushita: A New Century, a New Round Essay

1. How did Phillips become the leading consumer electronics company in the world? Philips started its business in 1892 in Eindhoven with its basic product, a light bulb. The company focused on only producing light bulbs at the beginning, and could therefore specialize and create significant innovations. The rapid growth to being the leader in industrial research, helped to broaden its product line. During the post war era Philips gained success and the company was able to adapt to country-specific market conditions. This helped Philips expand to other countries and also generated in a broadened sales volume. Phillips also developed National Organizations (NO ´s) in different countries, which helped to serve other markets more easily. NO ´s were after the Second World War helpful to distribute products to the customer while taking care of specific customer needs as well as country and market needs. This greatly increased self-sufficiency. The company ´s change to a multi-national company in the 1930s was also a specific point why Phillips was the leading cons umer electronics company. How did Matsushita succeed in displacing Philips as No. 1? Matsushita focused its competitiveness in high quality, low cost, and standardized products during the 1970s and 1980s. Also they had rapid product and process innovation and their company wanted to focus on exporting sales to world markets. Matsushita represented 40% of appliance stores in Japan as they capitalized greatly on their broad line of 5,000 products by opening 25,000 domestic retail outlets. This resulted in a direct access to market trends and consumer reaction as well as an increase in sales volume. Being the first Japanese company to adopt a divisional structure gave each division of the company a clearly defined profit responsibility. This structure created a small business environment to maintain growth and flexibility. It also generated competition amongst divisions. Matsushita’s global organizational model centralized the product and process innovation and then the development and manufacturing of the  products were the product division’s responsibi lity. What were its distinctive competencies and incompetence? Philips competencies: Ability to adapt in Local market conditions, strong national organizations, employee centric values, 14 product divisions (PDs), and NOs built their own technical capabilities and product development Philips Incompetence: No Economy of scale in manufacturing, many technological innovations, but its ability to bring products to market was weak. Difficulties in reorganizing the company when dealing with its growing problems. Matsushita competencies: Broad line of Products, Centralized structure, Fast follower’s strategy Matsushita incompetencies The tough leadership, Lack of resources for new development, inability to compete with other companies that outsourced to low cost factories. Why is the change so hard for both Matsushita and Philips? What recommendations would you make to Gerald Kleisterlee? And to Kunio Nakamura? The change was hard due to the difficulty of changing a company with a strong history and culture without changing the companies’ core values. As the changes were radical and made the companies change to a new way of acting and thinking, the companies had a hard time following and adapting to these changes which altered the core of the companies. Recommendations for Philips: As Philips success initially was in developing new products, though they were not able to successfully introduce them in the markets, this is an area they should exploit further. Also in this area they have capabilities that competitors do not possess. They need a better relationship and coherence between the NOs, PDs and the head quarter to be able to successfully introduce new technologies and products to the market. Also they need to make the whole company adopt the product and not just parts of it. Once they achieve a better coherence they can concentrate on improving their corporate marketing strategy to better position the new products. As Philips is a decentralized company they should work on being more towards a centralized company. They should also not give up its value proposition of being a ‘technology developer and global marketer’, which could be the result of outsourcing the majority of its production. Recommendations for Matsushita As Matsushita had a centralized organization, which was a large disadvantage and a reason for slow market responsiveness, they should work towards a more decentralized organization. Matsushita will need to anticipate on the globalization of the market, so that they are capable of sustaining their competitive advantage in low-cost production. To strengthen their position they need to focus on coherence between subsidiaries and headquarters.

Cycling Is an Ideal Mode of Transport Essay

With the improvement of living standard, the ownership of cars is increasing because of their convenience and rapid speed. However, some social experts consider that as a form of transport in urban areas, cycling is better than cars, which could combine the means of transport with public health. This essay will argue that cycling is an ideal mode of transport in crowed cities by focusing on the expenditure and environment effects. Firstly, cycling is a convenient and affordable mean of transport. Cyclists do not need to worry about traffic congestion which often appears during rush hour in busy cites. Normally it is believed that commuting by motor vehicles is quicker than by bikes, however, in short distance, cycling may spend a short time which does not include traffic jam and parking. Furthermore, cycling could reduce the cost of living dramatically. With the price of petrol, parking and maintenance increasing, traveling by cars costs more money than by bicycle. Despite the fact that cycling is not available for bad weather, most circumstance is suitable to ride a bike. Therefore, overall cycling is beneficial to the users. In addition to this, another reason to choose cycling is that it is environmental friendly. Compared with cars, cycling does not emit any carbon dioxide to the environment. Motor vehicles have already become the main polluter. If cycling is encouraged, air pollution would be reduced considerably and climate change could be alleviated in the future. Moreover, cycling is an effective way to escape from noise, because noisy pollution in urban centres is caused mainly by cars, which has negative impacts on living quality. As a result, cycling has minimal effects on the environment. In conclusion, cycling is an ideal mean of transport in modern cities as it is cost effective and environmental friendly. Therefore, government should build more implement for cycling such as bike paths and lines to ensure the safety of cyclists, which could encourage more citizens to enjoy cycling.

Charles Goodyear - The History of Vulcanized Rubber

Charles Goodyear - The History of Vulcanized Rubber Caoutchouc was the name for rubber used by the Indians of Central and South America. History of Caoutchouc Besides pencil erasers, rubber was used for many other products, however, the products were not standing up to extreme temperatures, becoming brittle in winter. During the 1830s, many inventors tried to develop a rubber product that could last year-round. Charles Goodyear was one of those inventors, whose experiments put Goodyear into debt and involved in several patent lawsuits. Charles Goodyear In 1843, Charles Goodyear discovered that if you removed the sulfur from rubber then heated it, it would retain its elasticity. This process called vulcanization made rubber waterproof and winter-proof and opened the door for an enormous market for rubber goods. Rubber Bands - On March 17, 1845, the first rubber band was patented by Stephen Perry of London, made from vulcanized rubber. Perry owned the manufacturing company Messers Perry and Co., of London, England.Elastic FabricsEraserHeelHoseRubber Soled ShoesRubber Stamp InventionBalloonsTiresVulcanized Rubber On June 24, 1844, Charles Goodyear was granted patent #3,633 for vulcanized rubber.

Free Essays on Wound Debridment

Debridement is the removal of devitalised or contaminated tissue from, or adjacent to, a traumatic or infected lesion, until surrounding healthy tissue is exposed (Vowden & Vowden, 1999). Failure to debride will delay healing. Removal of dead tissue must be achieved in the shortest possible time, thus improving comfort and quality of life (Hampton, 1998). Also debridement of wounds is an important skill, particularly as toxins from these wounds contribute to morbidity and death. The presence of slough inhibits the migration of epithelial cells across the wound and predisposes the wound to infection (Vowden & Vowden, 1999). Vowden and Vowden (1999) contend that debridement is crucial to optimal wound healing and may be the most effective method available to stimulate wound healing. Nurses involved in debridement need to have a thorough knowledge of wound care, experience and clear documentation in order to provide excellent practice. Practitioners must be able to identify and describe the rationale for each type of debridement and understand the impact of these on the wound as well as being able to assess the cost effectiveness of each treatment modality. Bale (1997) agrees and states that success of the treatment depends on the skill, ability and knowledge of the practitioner to select the appropriate method for each wound and to apply it correctly. This article will look at the non-sharp methods of wound debridement available and try to identify the advantages and disadvantages of each treatment modality. Enzymatic debridement Enzymatic debridement involves the use of proteolytic enzymes. These enzymes are said to digest Slough and necrosis whilst leaving healthy tissue intact (Bale, 1997). It works by breaking down fibrin, denatured collagen and elastin. The most commonly used enzymatic dressing is Varidase, which is a combination of both streptokinase and streptodornase. Streptokinase is a fibrinolytic substance commonly u... Free Essays on Wound Debridment Free Essays on Wound Debridment Debridement is the removal of devitalised or contaminated tissue from, or adjacent to, a traumatic or infected lesion, until surrounding healthy tissue is exposed (Vowden & Vowden, 1999). Failure to debride will delay healing. Removal of dead tissue must be achieved in the shortest possible time, thus improving comfort and quality of life (Hampton, 1998). Also debridement of wounds is an important skill, particularly as toxins from these wounds contribute to morbidity and death. The presence of slough inhibits the migration of epithelial cells across the wound and predisposes the wound to infection (Vowden & Vowden, 1999). Vowden and Vowden (1999) contend that debridement is crucial to optimal wound healing and may be the most effective method available to stimulate wound healing. Nurses involved in debridement need to have a thorough knowledge of wound care, experience and clear documentation in order to provide excellent practice. Practitioners must be able to identify and describe the rationale for each type of debridement and understand the impact of these on the wound as well as being able to assess the cost effectiveness of each treatment modality. Bale (1997) agrees and states that success of the treatment depends on the skill, ability and knowledge of the practitioner to select the appropriate method for each wound and to apply it correctly. This article will look at the non-sharp methods of wound debridement available and try to identify the advantages and disadvantages of each treatment modality. Enzymatic debridement Enzymatic debridement involves the use of proteolytic enzymes. These enzymes are said to digest Slough and necrosis whilst leaving healthy tissue intact (Bale, 1997). It works by breaking down fibrin, denatured collagen and elastin. The most commonly used enzymatic dressing is Varidase, which is a combination of both streptokinase and streptodornase. Streptokinase is a fibrinolytic substance commonly u...