Purchase decision of Pevensey PLC among four options of machinery Essay

Purchase decision of Pevensey PLC among four options of machinery - Essay Example In this paper two methods for analysis of the investment decision are adopted. These methods include discounted and non-discounted cash flow analysis. The reason for choosing these particular methods is that they are strictly numerical and objective. The solution given by these methods cannot be argued against and can be easily defended if questions are raised pertaining to their legitimacy. Relevant data is also available for using the above mentioned methods of analysis. The initial costs of the four machines, their residual value at the end of their useful life and cash flow generated by the four machines is provided in the case. -Discounted Cash flow simply calculates the differential between the costs and receipts associated with each investment option for the organization. In this particular case, the investment options for the company are the four machines. The benefit of non-discounted cash flow method is ease of assessment and communication to the top management. Discounted cash flow is a modified and improved version of cash flow analysis in which timings of the cash flows are also taken into account. Under this method, value for each cash flow is discounted according to respective cost of capital of the company. This method makes more sense because contemporary organizations prefer gain cash flow as early as possible, so that this cash flow can be reinvested in the business or some other venture. Aversion to  risk is the second reason for discounting of because the distant is the date for receipt for cash; the lesser is the certainty of receiving it. An investment is viable if its net cash inflow exceeds the net outflow of cash for acquisition and maintenance of machinery (Gilchrist and Himmelberg, 1995). The cost of capital of

Victory at a price Essay Example for Free

Victory at a price Essay I ran my small pale hand shaking in the bitter winter wind, gently down his left hind leg. It felt smooth and strong, there was no sign of the recent injury. I felt a great sense of relief. It was going to be alright. Luxembourg turned his head with a white blaze down it to his mouth, towards me and gently moved his big hooves out of my way. He seemed to sense that I was nervous and touchy. It was the night before the big race. I sighed deeply; I stood to lose everything, the stables, the horses and the staff. We had not made any money for such a long time. Our lives depended on winning the second race tomorrow at Kempton Park. I woke up to the early morning sun streaming through my upstairs bedroom window. I was eager and excited but I still had some concerns that in a couple of hours, when the race finishes, he would come back safe and sound but I would be over the moon if Luxembourg was to win. It was not to long before I drove the enormous horse box, fifty five miles up to Kempton Park Racecourse on the outskirts of London, where he would be having his first run on the Racecourse just approaching two years Monday week. I was just going through the gate which said Horseboxes in big, bold and black writing engraved on the white board next to the gate. I had to show the security pass to get through. Every part of my body was trembling and shivering with anxiety and hope that Luxembourg the cute and chocolate coloured would come back safely and we would get a big run out. I was hoping in a few hours time all my hard work with staff with this horse would pay off today with a place or a win. I was shivering, I was growing colder and colder with hope, but most of all anxiety, I had now got Goosebumps running up my arms and legs, everywhere. A cold anxiety filled hour of bitter coldness has just passed; I walked the horse out into the pre parade ring. I put the saddle on tightly so it would not move as he was running the race. He was number 9, it was my lucky number, I thought could this be my lucky day today. Luxembourg and I walked round the pre parade ring a couple of times before we went into the dreaded parade ring. The atmosphere was electrifying. There were a couple of 100 people watching us, only us in the pre parade because all the other entrants had already made their way to the parade ring. My heart was in my mouth. We walked through the plastic gates through to the parade ring. There were a couple of thousand people watching us because we were the last horse to go through. I could feel Luxembourg tensing up and scared, there were lots and lots of people watching him. We walked round and round the huge parade ring. I heard a voice faintly; he said number nine looks fit and healthy. I thought to myself that must be a good sign if other people think he is fit. The first bell rang deafeningly, it meant the jockeys were to come out and mount up onto the horse. Paddy came out jogging; he came over and talked to us. He said Go from the front, see how it goes. I went over to the horse with Paddy, I gave him a leg up, and we were the first mounted up. I walked out to the course holding the horse reigns as if I was walking a dog. I said Good Luck to Paddy and let the reigns go. Luxembourg was off, his glistening coat shining in the beaming bright sun. His picturesque face standing out with the long and lovely white blaze standing out on his chocolate coloured coat. He made his way down to the 2 mile start by Swinley Bottom. I went to my place high up in the gigantic stand in front of the massive course; I was surrounded by about three million people watching the race. I was shivering and trembling. Theyre off Luxembourg went off in the lead by about ten lengths clear of the rest of the horses. A mile gone Luxembourg still ahead but the rest of the field have just come back to him. As Luxembourg came past the winning post for the first time, I shouted as loud as I could COME ON PADDY. He was going the best out of the other eight who were being nudged along a touch. He jumped the next two down at Swinley Bottom as if he was jumping for fun. It was all going well I thought to myself. The next fence came; the field of nine were bunched together. Luxembourg was still first. He jumped the next extremely well. The second horse fell and brought down the third and fourth. The ninth horse refused the fence. There was six left. Luxembourg was left three lengths clears of number 2 who was 8 lengths ahead of the remainder who were weakening rapidly. Paddy decided to kick on, He began to get tired, he came to the last fence of sixteen. He was extremely tired, he clattered the fence. The second was closing in on him on the run in. Luxembourg was idling in front. He went one way and then the other. Paddy gave him a few slaps down the neck. One hundred metres left, one furlong until the end. The second horse came closer, closer, and closer. The race went to the judge. A few minutes wait, I was trembling, shivering and Goosebumps went everywhere. The judge spoke first number 9 Luxembourg, Second Number 2 Kauto Star. I went down to pick him up, I whispered to Paddy Well Done. He was delighted. I walked him into the winners enclosure. I felt that Luxembourg was not walking as fit as usual. He was limping; we thought something must be wrong with him. He just about got into the winners enclosure. I asked the vet to look at him. The vet said he had to be put down, he could not live another hour. He was put down. I fell to the ground in complete shock. I was in tears. A puddle building up on my face. I was sweating, shivering but most of all distraught. My staff, family and I were distressed and depressed. He was the best horse I ever had for the thirteen years we have been running the stable. I thought to myself, no one can ever replace Luxembourg, he was a superior, excellent and energetic horse that will never be forgotten and always have a place in our hearts. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Miscellaneous section.

International Business strategy for Arcelik Home Appliances

International Business strategy for Arcelik Home Appliances Arcelik Home Appliances is the leading manufacture of home appliances in Turkey with a market share of 50% in the domestic market as at 2003 (Chemawat, 2008). It supplies the market using two brands namely Arcelik and Beko. The company has adopted an international expansion strategy and has already been marketing its products to more than one hundred (100) countries mainly in Western Europe, Eastern Europe, Latin America, Asia, and North Africa (Chemawat, 2008). Arcelik was originally founded to produce metallic office furniture in 1955 but diversified into production of household appliances shortly after. It has been hailed as the first company to introduce appliances such as washing machines and refrigerators to the Turkish households. Arcelik would face further challenges when it became apparent that the Turkish government would be participating in the European Communitys tariff reduction which was meant to reduce to zero from 1992 to 1996 (Chemawat, 2008). The challenge would be competition from other manufactures from the European Community who would be able to sell their products at more competitive process in the domestic market. Arcelik overcame this challenge by investing heavily in research and development thereby substantially improving the quality of their products. The company is currently the leading holder of patents in the Turkish market. This strategy cemented its market leadership in the domestic market as consumers preferred to spend a little more to obtain goods whose durability could be assured. This preference was also enhanced by Turkeys fluctuating market where inflationary forces were highly unpredictable with the greater odds being to the consumers disadvantage. Arcelik would later grow to establish its market dominance in Turkey for decades but would later face challenges that would trigger its focus on international expansion to ensure its survival and growth. Arceliks motives for international expansion The focus on international expansion by Arcelik was triggered by the economic crisis that hit Turkey in 2001. This crisis had led to soaring levels of unemployment and a significant reduction of market demand by an estimated figure of 35% (Chemawat, 2008). This strategy mainly comprised increasing exports as well as engaging in international acquisitions. The economic crisis in Turkey must have proved to Arcelik the vulnerability of firms wholly dependent on domestic markets. Pressures from business cycles, inflation, interest rates, exchange rates and political forces are prevalent in domestic markets. On the other hand, international markets tend to be better insulated from such pressures since they will rarely apply across several countries. Economic crisis in one market would normally not be prevalent in the rest of the markets hence multinationals can ensure stability by marketing their products across many countries. Arcelik had to get a way to survive the economic crisis in 20 01 and as well ensure that future company performance was stabilized by reducing its level of vulnerability to domestic market fluctuations. Arcelik also sought to focus on international expansion in order to increase its level of production and increase its economies of scale (Chemawat, 2008). This means that with additional production, the cost of producing each unit product becomes significantly lower hence allowing a company to make higher margins per unit or allowing them to charge lower per unit without incurring any losses. Economies of scale allow a company to remain competitive in the ever-evolving economies. To ensure that the economies of scale do not end up in accumulation of dead stock, or in the escalation of warehousing and storage costs, Arcelik would need to look to markets that would be able to support its intention of increasing the economies of scale through a larger demand. The national demand within Turkey would not be able to absorb these additional products h ence the rationale behind Turkey looking to expand international trade. The level of demand for home appliances in Europe alone is about 25% of world demand (Chemawat, 2008). Arcelic sought to tap into this huge demand to support its competitiveness and the large levels of production occasioned by their strategy of maximizing on the economies of scale. International expansion can also be explored where a company seeks to lower its production costs by having a significant proportion of their production done from regions where the cost is lower than in the domestic market. One of the major factors of production that normally influence the decision of overseas production is labour. When considering labour, it is imperative that a company weighs between the benefits of the savings from paying the lower labour cost, the differences in the productivity of the workers between the higher wage and lower wage areas, and the transport and storage cost implications. It is also worth noting that in many cases, where the labour costs are low, other factors of production such as land would also be relatively lower. The labour cost in Western Europe is estimated to be five times that in Turkey. Labor cost in Turkey is three times that in Eastern Europe (Chemawat, 2008). In China, it is four times lower than in Turkey. Labor productivity also varies and must be taken into account. For instance, in China, labour productivity is just half of that in Turkey. Additional transportation costs are determined by both the distance between the production facilities and the legal environments of the countries through which the products must cross to get to its intended markets. Access to international markets is crucial to any organization that seeks to expand itself. Domestic markets will often in many cases be found insufficient to support the growth targets that the companies set for themselves. They are also in many cases unable to enable an organization to recoup the investments the y may make in research and development in time. The complexity and the level of innovations in the global market is advanced and often leads to production of new and better fulfilling products. This significantly reduces the product life cycles and the companies engaging in research and development need to gain assurance that their investments can be recouped before the products lose demand. This assurance can only be found by marketing extensively in the international markets where the demand is much larger and can ably support the level of sales needed. Arcelik was motivated to focus on international markets since it had opted to distinguish itself as a research and development specialist who focused on the production of quality and durable products. These features would mean that it would need to charge relatively higher prices for the products. On the other side, the products from other European countries were finding their way into Turkey due to the zero tariff arrangement with the European countries. The entry of other products in Turkey meant that Arcelik would either have to lower their prices in order to maintain its domestic share market, or expand its operations to European and other markets in order to maintain or increase its level of sales to clients that focus more on quality, suitability and durability of the products they purchase. Arceliks options for expansion In order to realize its goal of expansion into the international markets, Arcelik has adopted a number of options to help them realize this goal. The international market entry options adopted by Arcelik include use of exports, international acquisitions, use of private label contracting, and product diversification. Organic domestic growth and use of exports Arcelik ensured growth domestically by ensuring reliable accessibility to the market using exclusive distributors and agencies who also served as centres for offering after sales services. This exclusive network also served as an entry barrier for any new market operators. Exporting entails maintaining the companys operations in the home market and selling the products in overseas markets (Giroud, Sinkovics, and Yamin, 2011). It is hailed as the least costly mode of foreign market entry but at the same time the most vulnerable to various entry barriers as government regulations. The cost effectiveness of this entry method is enhanced by the fact that it requires no involvement with the foreign governments or the companies operating in the target market. It is often seen as the best mode of entry for an organization operating on a lower scale. With subsequent growth of exports, the company may open sales agencies in the foreign markets to be the link with the companys clients overseas. By 2003, Arcelik had grown to be the leading player in Estonia and Lithuania with a market share of 25% in these two markets. It also had a commanding presence in the rest of Eastern Europe. The presence of Arceliks sales agencies helped grow significantly in Western Euro pe with a markets share of 15% in the United Kingdom. Arcelik also conducted a successful export strategy gaining a 70% market share in Romania with its Beko brand. The net effect of these exporting strategies was a significant increase in Arcetiks production capacity from 440,000 to 750,000 in 2003 and 2004 respectively (Chemawat, 2008). International acquisitions This mode involves a company buying out another firm operating in the target market hence assuming full legal rights over it. This method is hailed as the best mode of expansion into other markets since it grants a company total control over the foreign subsidiary as well as full profits generated thereafter (Giroud, Sinkovics, and Yamin, 2011). The full control over the activities of a subsidiary is viewed as essential in ensuring they run in accordance with the philosophies of the parent company hence ensure the goals of the company are achieved as intended. The targets for acquisition would need to have the unquestionable ability to complement Arceliks growth strategies. Arcelik would also evaluate the foreign firms brands and take consideration on how these brands would help strengthen them as well as complement their capabilities. The target subsidiarys contribution to sustainable growth was also a key factor. Arceliks acquisitions in 2002 include Bloomberg, Electra, and Flavel and Leisure in Germany, Austria and the UK for the two latter brands (Chemawat, 2008). They also acquired Arctic in Romania. The acquisitions of brands in the target markets was likely informed by the fact that many consumers tend to prefer purchasing brands that they can identify with: the brands they consider national brands. These acquisitions tremendously increased the product range offered by Arcelik and lead to its significant growth within the European markets. Use of license contracting Licensing involves the company transferring certain rights to another firm to enable it manufacture products using its brand. In licensing, the consideration that the licensor gets is only the royalty or the license fee (Giroud, Sinkovics, and Yamin, 2011). It does not take part in profit sharing or any other marketing processes of the licensee. Licensing offers the advantage of enabling a firm to avoid government regulations and other restrictive policies such as tariffs and quotas. It also enables market penetration without involving extensive capital expenditures. However, this method is highly restrictive in the level of control the company can have over the activities of the licensee. There is also the risk of the licensee gaining the technical expertise and becoming a competitor in the production of close substitutes after the expiry of the mutual arrangement. Arceliks production in 2004 comprised 40% from various licensing arrangements (Chemawat, 2008). This complimentary effo rt helped ensure Arceliks brand presence in the Europeans markets. Diversification into other businesses within Turkey In order to enhance further growth in the domestic market, Arcelik sought to capitalize on its elaborate distribution network to provide consumers with additional products. By 2004, Arcelik was offered various types cellular phones and was already getting into arrangement with various Japanese firms to act as distributors of various electronic products. The diversification proved to be a great success and further cemented Arceliks leadership in the Turkish market. Additional Options for Expansion Arceliks ambitious goal of achieving revenues of three billion Euros in the next year may be difficult to realize unless additional methods were employed to ensure its continued growth in the international markets. Domestically, Arcelik could opt to but out local competitors in a bid to solidify its hold on the local market. This solidification would help reduce the downward pressure on its product prices by reducing the significance of competition locally. In addition, the additional channels of distribution gained through any such acquisition would act as an entry barrier to any foreign firms hence ensuring steady domestic growth. Internationally, Arcelik could embrace a number of methods to ensure its continued growth. These methods include engaging in Joint ventures, franchising and use of strategic alliances. Joint Ventures Joint ventures involve the formation of a partnership arrangement with a different company where the parent companies provide the resources to operate it, share responsibility on management, and share profits realized thereafter (Giroud, Sinkovics, and Yamin, 2011). This type of venture is especially popular where it comes to sharing the intelligence and technical knowhow required for research and development. With their determination to distinguish themselves as the masters of innovation and product development, this method can be used to ensure its rapid growth. Instead of engaging in competition with the already existing companies in the foreign market, Arcelik could identify a strategic partner who knows the market remarkably well. They could then research into the market needs in a bid to try and unveil any unsatisfied demands in the market. Having found the features lacking in the products found in the market, they could, through the joint venture develop new products that woul d suit this need and capture the unreached market. This method would be convenient to Arcelik since it would not involve many unnecessary government regulations that normally bar entry. In addition, such a venture, if well implemented would easily capture the market as it would be riding on the goodwill and distribution network of the strategic partner in the foreign market. Franchising Arcelik needs to consider franchising in order to minimize the risks involved with the licensing as it currently practices. Here, Arcelik would transfer some rights to the franchisee to produce the products under its brand but will reserve the right to provide some aspects of technical support (Giroud, Sinkovics, and Yamin, 2011). This way, Arcelik will be able to be abreast with the activities of the franchisee. In addition, in Franchising, the royalty is based on the amount of sales hence Arcelik will be able to generate higher revenues in the event the franchisor is able to realize significantly higher sales. Franchising is easy to start since the franchisor incurs minimal capital cost hence Arcelik can expand into more foreign markets with relative ease. Moreover, the franchisee assumes all the risks and foots for all costs of labour and facility establishment. The company will also be able to avoid any political risks associated with foreigners operating in national markets. Arc elik can therefore easily expand its scale of production without worrying about high capital expenditure hence edging closer to achieving the revenue targets Strategic alliances A strategic alliance differs from joint ventures in that it does not necessarily involve formation of a legal entity. Strategic alliances are formed to enable companies use each others distribution networks, technologies, production capacities, management experience and others (Giroud, Sinkovics, and Yamin, 2011). One very essential factor in ensuring product penetration in the market is the distribution network. This has been evident in the manner in which Arcelik has been able to capture the domestic market by using effective distribution networks in Turkey. Arcelik should also try to replicate this experience in the foreign markets. However, by virtue of the fact that its a foreign market, they may not have the resources to establish an effective distribution network in those markets. It would therefore be relatively more convenient to identify foreign companies with a distribution network that serves their target customers effectively, and then enter into a strategic alliance wit h them. This may be companies offering similar products or those making completely different products. When the products are easily available to the consumers, they more likely to buy these products and this would lead to an increase in the amount of sales realized by Arcelik. The strategic alliance could also involve sharing of certain technologies between the companies in question. Arcelik could choose to leave the production of a certain product components to a company with a comparative advantage in its production in exchange for providing a component which it can produce more efficiently. This exchange could lead to lowering the production cost which would be useful in helping the company become more price-competitive in the market. Conclusion Arceliks growth is mainly dependent on how the company can enter and prosper in the international markets. This is because it is already commanding the domestic market in Turkey and may have limited growth opportunities locally. Growth and diversification are often related as is evident from Arceliks company history. Arcelik has grown in the past by steadily improving on the product range that it offers to the market and this diversification should be continued to ensure continued growth.

Jazz Showcase Essay -- essays research papers

Jazz Showcase The concert I attended was the Jazz Showcase in Rudder Theatre on Monday June21, 2004 at 7:30 p.m. Surroundings Rudder Theatre is a large venue for this Jazz Showcase. There are five sections with fifteen rows deep in each section. The theatre is decorated modestly with solid colors and nothing too spectacular or eye catching. The chairs were covered in a yellowish fabric. The initial backdrop behind the stage was a white backdrop with red and blue lighting. This backdrop would change colors throughout the concert. Located at the doors were ushers with programs detailing the Texas Music Festival. The seats inside were not assigned but on a first come first serve basis. Seated in the very front and centered to the audience were the performers. The stage was set up with five chairs lined up three rows back. Each row was more elevated than the previous. The piano was at the far left, the guitar and bass were next to the piano, and the drums were in the back. The first row of chairs included the saxophone players, the second row were the trombone players, and the trumpet players were in the third and last row. Audience The audience, for the most part, seemed to be made up of college students attending for the same reasons as myself. However, there were some audience members who are part of older age groups in the audience. They were there only seeking a good performance and a great time. These older age group audience members were located mostly in the center section of the theatre seated in the first few rows. The dress was more casual among the students but dressier for the older people. Some people were in jeans and a T-shirt, including myself, while some wore nice clothes. The audience rewarded each soloist with a warm ovation of applause after their turn was finished. This led me to believe the audience enjoyed the performance and was very respectable to the performers. Performers I counted nineteen total performers with occasionally two others and a vocalist. Each performer was dressed in black pants and a black shirt except one who showed up late. He was wearing blue jeans and a sports coat and he definitely stood out from all the others. The performers related very well with the audience. Each acknowledged the audience after applauses and there was a narrator between pieces. There was a lot of humor among the performers and they seemed ... ...ked throughout the concert. The pacing of the selections seemed appropriate. No piece sounded like the one before it. There was a great variety of songs played. There were songs played that were written by famous jazz composers and songs played that were written by some of the performers themselves. This added to the excitement of the show. Opinions I enjoyed this concert. It was my first real experience with jazz music. To be honest, I didn’t know what to expect, but I left satisfied that I attended. However, there was one thing I did not enjoy. The narrator between songs was not very effective and actually took away somewhat from the concert. He failed numerous times at trying to be humorous and rambled on. My favorite piece was 88 Basie Street. It gave me that easy and relaxed feeling. This piece started softer, and then seemed to pick up with more energy. With my lack of knowledge of Jazz music, I certainly enjoyed this piece the best. I learned how exciting and fun listening to jazz being played live can actually be. I found it very interesting. Like I said earlier, the only thing I would change to make the concert more effective would be to have the narrator speak less.

Agricultural Production in Ancient Civilizations Essay

During the period of 500 C. E – 1000 C. E. ancient civilizations in North and South America and China cultivated and gradually moved from the hunting and gathering lifestyles. These civilizations drifted towards food collection and then farming. This approach, crops and attitudes toward agriculture varied with culture. With the Native Americans and the Ancient Chinese during 500 C. E – 1000 C. E. have both differences and similarities towards agricultural production. Document 1, tells of a story about how Maria Manuela de Cora (an Inca Author) passes along ancient legends. One that is called â€Å"Seeds† that says that one day the son of the sun kills a child that was made by the sun. The son of the sun got scared of the anger of his father and scattered about the world the pieces of his murdered brother. It tells that his body parts like his teeth grew corn. This would be a story about the creation of corn, why it was there and how. However, document 7 talks of an Ancient Chinese Legend. This talks more about that fact that if you took the weeds you could fertilize the farmer’s crops. With each story tells something to do with farming. How that one, thing is made or how to make their crops better. Document 5, is a diagram of a hunting scene and peasants working in a field in Ancient China. This illustration gave a reason for historians to track the development of tool- and weapon making in organization in agrarian and artisan production as well as the leisure activities of officials and the landed elites. With document 3 talks about Mesoamerican origins. Historians talk about that current archaeological evidence cannot pinpoint a single location where Indian agriculture began or determine precisely why the Indians became agriculturists. They did though have records that suggested that the cultivation and domestication of plants. With the painting and the records gave historians a better view of each hunting scene and peasants working in fields. During the period of 500 C. E – 1000 C. E. ancient civilizations in North and South America and China cultivated and gradually moved from the hunting and gathering lifestyles. These civilizations drifted towards food collection and then farming. With this approach, crops and attitudes toward agriculture varied with culture. With the Native Americans and the Ancient Chinese during 500 C. E – 1000 C. E. have both differences and similarities towards agricultural production. Showing that China was more into the facts then stories like Mesoamerica to explain the reasoning of agricultural in both of China and Native Americans.

Understanding Delphi SET Type - Expert Guide

Understanding Delphi SET Type - Expert Guide One of the Delphi language features not found in other modern languages is the notion of sets. Delphis set type is a collection of values of the same ordinal type. A set is defined using the set of keyword: Set types are usually defined with subranges. In the above example, the TMagicNumber is a custom subrange type allowing variables of the TMagicNumber type to receive values from 1 to 34. Simply put, a subrange type represents a subset of the values in another ordinal type. Possible values of the set type are all the subsets of the base type, including the empty set. A limitation on sets is that they can hold up to 255 elements. In the above example, the TMagicSet set type is a set of TMagicNumber elements - integer numbers from 1 to 34. The declaration TMagicSet set of TMagicNumber is equal to the following declaration: TMagicSet set of 1..34. Set Type Variables In the above example, the variables emptyMagicSet, oneMagicSet and anotherMagicSet are sets of TMagicNumber. To assign a value to a set type variable, use the square brackets and list all the elements of the set. As in: Note 1: every set type variable can hold the empty set, denoted by []. Note 2: the order of the elements in a set has no meaning, nor is it meaningful for an element (value) to be included twice in a set. The IN Keyword To test if an element is included in the set (variable) use the IN keyword: Set Operators The same way you can sum two numbers, you can have a set that is the sum of two sets. With sets your event has more operators: returns the union of two sets.- returns the difference of two sets.* returns the intersection of two sets. return true if two sets are equal - have the same element. returns true if the first set is a subset of the second set. returns true if the first set is a superset of the second set. returns true if two sets are non-identical.IN returns true if an element is included in the set. Heres an example: Will the ShowMessage procedure be executed? If so, what will be displayed? Heres the implementation of the DisplayElements function: Hint: yes. Displayed: 18 | 24 |. Integers, Characters, Booleans Of course, when creating set types you are not restricted to integer values. Delphi ordinal types include character and boolean values. To prevent users to type alpha keys, add this line in the OnKeyPress of an edit control: Sets with Enumerations A commonly used scenario in Delphi code is to mix both enumerated types and set types. Heres an example: Question: will the message be displayed? Answer: no :( Sets in Delphi Control Properties When you need to apply bold to the font used in TEdit controls, you either use the Object Inspector or the following code: The Fonts Style property is a set type property! Heres how it is defined: So, an enumerated type TFontStyle is used as the base type for the set type TFontStyles. The Style property of the TFont class is of type TFontStyles - therefore a set type property. Another example includes the result of the MessageDlg function. A MessageDlg function is used to bring up a message box and obtain the users response. One of the parameters of the function is the Buttons parameter of type TMsgDlgButtons. TMsgDlgButtons is defined as a set of (mbYes, mbNo, mbOK, mbCancel, mbAbort, mbRetry, mbIgnore, mbAll, mbNoToAll, mbYesToAll, mbHelp). If you display a message to the user containing Yes, OK and Cancel buttons and you want to execute some code if either the Yes or Ok buttons were clicked you can use the next code: Final word: sets are great. Sets might appear confusing to a Delphi beginner, but as soon as you start using set type variables you will find out they provide much more then it sounded in the beginning.

WTO essays

WTO essays In what might become a key issue in the November election is Chinas entry into the World Trade Organization (WTO). In case you havent noticed the WTO has been a key issue over the past couple of months. Groups have been blaming the WTO for all the worlds problems. "The WTO is anti-(insert any item here)," is something that I can always chuckle at. However, I will concede this to anti-WTO groups, Chinas entry is something that needs to be carefully examined. Do we allow a murderous, corrupt, communist regime into the civilized worlds economic system? Reluctantly, I say yes. Chinas vast potential as an economic powerhouse has been noticed by outsiders for centuries. Just getting access to even ten percent is enough to send profits soaring. However, this comes with a high price tag. Chinas huge bureaucratic, centrally controlled government, has been ill equipped to handle foreign trade. Walk the streets of Bejing or any other major city and you will find an abundance of copied goods. Copies of Windows 98 or the latest CD can be found pirated by individuals, companies, or even the government with no royalties going to those who earned it. China has shown no interest in cracking down on this blatant violation of international trade laws. The Peoples "Liberation" Army has even undertaken profit adventures outside government control. Yet, would this change if they were allowed into the WTO? I believe it would and Ill explain later. We have been dealing with a regime that has killed millions of people for years now. China has a strict population control policy. Couples are limited to one child and many women are sterilized or forced to have abortions to maintain this policy. This shows a complete disregard for the sanctity of human life. This government crushed a peaceful demonstration of democratic activists in Tiannamen Square. The government crushes all dissent...

Business Decision Making Essays

Business Decision Making Essays Business Decision Making Essay Business Decision Making Essay The business research process provides a roadmap with directions for conducting a business research project. There are three steps in the research process. They are the formulation, execution and analytical phases. Step 1: Formulation stage involves defining the substance and process of the research. To Develop: Theory, Research Questions, Hypotheses, and Study Design/Method. Example: Assume a luxury producer came and sought help from my company which provides business consultation services. He was worried about how to segment the current market.I would design the research objectives according to the Maslows hierarchy of needs theory, eg. How many people are there living this area? their income level. their occupation and so on. I would assume that people of certain income level would be interest in luxury goods to show his or her status. The research will be designed especially made for this luxury company. Step 2: Execution phase researcher is actively gat hering information from the appropriate sources. This information is then checked for errors, coded, and stored in a way that allows it to be analysed quickly and conveniently.Example: After the design of research is completed, I would send it to the marketing staff to implement the research, check the errors. Then I would transform the research questions into questionnaires, post them online or distribute them to certain areas. After people finished the questionnaires, I would gather all the information, check for errors, coded them into SPSS, and analysed right on the SPSS programme. Step 3: Analytical phase data are analysed. Hypotheses are tested and either (a) supported, or (b) not supported, based upon comparing the actual study outcome with the outcome predicted in the formulation stage.Results are examined to provide answers to the key research questions. The decision maker then take actions based upon better knowledge of the situation. Example: when the data have been anal ysed, I would test if the hypotheses are supported or not supported. Then make the conclusion. (b) Recent business trends have affected business research in many ways. They have helped shape the types of research performed, the way research is conducted and the phenomena that are studied, as well as the importance of research in business decision-making.Among the more important trends impacting business research are international research, relationship marketing and information revolution. International research. Firms around the world now perform business research to improve their decision making. This research influences decisions often involving unfamiliar cultures. Internationalization means business research also must take an international focus. Difficult managerial decisions involving consumers and employees in a foreign culture are made even more difficult by an array of communication barriers, both verbal and nonverbal.These decisions require research regarding cultural dif ferences including the ability to translate meaning from one language into the same meaning in another language. The internet means many businesses now consider the world their market. In addition, translational equivalence which means that text can be translated from one language to another and then back to the original language with no distortion in meaning, becomes essential. Relationship marketing Relationship marketing emphasizes long-term interactions between a business and its stakeholders.The emergence of relationship marketing is changing research in terms of who and what is studied. A principal component of relationship marketing is the realization a firm cannot be everything to everybody. Otherwise, limited resources will be spent on unprofitable customers. Successful companies have loyal customers, loyal employees and loyal stakeholders. Relationship marketing has placed an increased emphasis on the study of loyalty-related factors. Employee loyalty issues such as turnov er and organizational commitment have been studied often because of their relationship to firm performance.Turnover represents the average tenure of an employee and suggests a replacement rate needed to maintain production. Organizational commitment is the degree to which an employee identifies with the goals and values of a firm. Information revolution The information age has facilitated many research processes. Technological advances in computing and electronic storage have dramatically increased research efficiency. Electronic communications, such as emails, has replaced the telephone and traditional ‘snail-mail’ for many types of business communications, including many matters directly related to research.Networking allows greater communication and data transfer between interested parties. Company information is now stored and catalogued in an electronic format, these electronic data warehouses replace other more costly approaches to storing data. Electronic data wa rehousing clearly has changed the way analysts and decision makers do their jobs. Further, numerous industry statistics are now available electronically. Motivated by the low cost of electronically storing information and a desire to better understand multiple relationships, many organizations have developed formal systems aimed at recording all important events in a database.The resulting database is an electronic representation of organizational memory. Organizational learning can be defined as the internalization of both external and internal information to be used as an input to decision making. One relatively new organization learning tool is data mining. Data mining electronically mines data ware houses for information that identifies ways to improve organizational performance. Business research even extends beyond the earth. Many companies are gathering and analysing information obtained from Global Positioning Satellite devices.GPS allows real-time tracking of movement. Rese archers can expected and able to be more productive than they were a generation ago. Question 2 (a) The graphical technique of multiple-line is adopted to illustrate the number of job vacancies reported in NSW, Victoria and Australia from 1998/99 to 2009/10. It is clear and easy to identify the trends among three places and make comparisons by using the line chart. We can see from the line chart that the number of job vacancies is greater than the number of Victoria through all the periods.We can see an upward trend in all three places. From 1998/99 to 1999/00, the job vacancies drop slightly in Victoria while the number of NSW went down dramatically from 20,000 to approximately 10,000. Job vacancies in Victoria were on the rise from 1999/00 to 2008/09. However, at the same time, the number of NSW fluctuated within the range of 20,000 to 40,000. In 2007/08, the job vacancies peaked at 40,000, followed by a dramatic fall. The overall trend of job vacancies reported in Australia was s imilar to NSW. It bottomed at 37,000 in 1999/00 and peaked at 116,000 in 2007/08. (b)The graphical techniques of clustered bar chart is adopted to show the percentage of earnings by three business segments, international airline operations, domestic airline operations and subsidiary operations, from 2004 to 2010. By using clustered bar chart, the percentage in each segment become evident, moreover, it is easy to make comparisons. The earnings by international airline operations accounted for the largest proportion in all the years except 2010. The figure peaked in 2009 with more than 60%. In 2010, the earnings made by domestic airline operations exceeded the earnings of international airline operations.The earnings made by subsidiary operations fluctuated in this period from 2004 to 2010. The graphical techniques of stacked bar chart is adopted to show the figures of earnings according to geographic area, Australia, UK and Europe, Japan, Southeast and Northeast, Asia, America and th e pacific and other countries, from 2004 to 2010. By using stacked bar chart, the amount of earnings in each segment become clear, moreover, it is easy to make comparisons among seven years. We can witness a upward trend for the total earnings in seven areas. The earnings made by Australia accounted for the largest proportion through all the years.Australia’s earnings figure peaked in 2010 with more 10000. It is clear that the earnings made by Australia were on the rise from 2004 to 2010, while at the same time, all the other geographic areas remained constant. Question 3 Brief report for the Frank City Council Respondents gender FrequencyPercentValid PercentCumulative Percent Validmale2141. 242. 042. 0 female2956. 958. 0100. 0 Total5098. 0100. 0 MissingSystem12. 0 Total51100. 0 Of the sample, a large proportion of the sample is female (58%), while 42% of the sample is male. Statistics Age of respondent NValid50 Missing1Mean46. 78 Median45. 50 Mode35a Std. Deviation18. 074 Va riance326. 665 Range78 Minimum21 Maximum99 Percentiles2531. 75 5045. 50 7560. 00 a. Multiple modes exist. The smallest value is shown In Frank City, there are three main age groups in the sample with 23-25 years old, 33-44 years old and 57-65 years old. People of other ages are pretty even within the range from 21 to 99 years old. The minimum age is 21 years old and the maximum age is 99 years old. The Average age is 46 years old. Ethnicity of respondent FrequencyPercentValid PercentCumulative Percent Validwhite2549. 050. 050. 0 lack1733. 334. 084. 0 other815. 716. 0100. 0 Total5098. 0100. 0 MissingSystem12. 0 Total51100. 0 In the sample, most of the people are white (50%), 34% are black, 16% are other ethnicities. White people accounted for the largest part in the sample, followed by black thnicity. Region in the Council FrequencyPercentValid PercentCumulative Percent Validnorth1427. 528. 028. 0 south1631. 432. 060. 0 west2039. 240. 0100. 0 Total5098. 0100. 0 MissingSystem12. 0 Tot al51100. 0 In this sample, most of the people live in the west region (40%), there are 32% live in the south, 28% live in the north.Number of brothers and sisters FrequencyPercentValid PercentCumulative Percent Valid035. 96. 06. 0 11121. 622. 028. 0 21121. 622. 050. 0 312. 02. 052. 0 459. 810. 062. 0 535. 96. 068. 0 659. 810. 078. 0 7917. 618. 096. 0 1012. 02. 098. 0 1212. 02. 0100. 0 Total5098. 0100. 0 MissingSystem12. 0 Total51100. 0 Of the sample, most of the people have 1-2 brothers and sisters 21. 6%. There are 18% of people who have 7 siblings. 10% of the people have 4-5 siblings. Number of children FrequencyPercentValid PercentCumulative Percent Valid01631. 432. 032. 0 11019. 620. 052. 0 21019. 20. 072. 0 3917. 618. 090. 0 423. 94. 094. 0 523. 94. 098. 0 812. 02. 0100. 0 Total5098. 0100. 0 MissingSystem12. 0 Total51100. 0 Of the sample, 32% of the people do not have a child. However, 68% of the people have 1-3 kids. Those who have 1-3 children accounted for the largest propor tion in this sample. Respondent’s occupation category * Respondents gender Crosstabulation Count Respondents genderTotal malefemale Respondent’s occupation categorymanagerial Professional Speciality9615 technical, Sales Administrative Support4913 Service189 Farming, Forest Fishing213Precision Production, Craft Repairs336 Operation, Fabrication General Labour224 Total212950 Of the sample, more male were occupied with managerial Professional jobs than female. On the contrary, far more female engaged in technical, Sales Administrative Support and Service jobs To obey * Respondents gender Crosstabulation Count Respondents genderTotal malefemale To obeyMost important3710 Important134 3rd important336 4th important31114 Least important11516 Total212950 Of the sample, female tend to be more aware of obedience than male. While more male thought obedience is least important.To be well liked or popular * Respondents gender Crosstabulation Count Respondents genderTotal mal efemale To be well liked or popular0011 Most important314 Important459 3rd important325 4th important5611 Least important61420 Total212950 Of the sample, most of the female thought to be popular is least important than male. Both genders think it is of importance to become popular. More male than female thought it is most important to be liked. To work hard * Respondents gender Crosstabulation Count Respondents genderTotal malefemale To work hard0011 Most important729 Important51015 3rd important41115 th important426 Least important134 Total212950 Of the sample, 33% of male think to work is most important, by comparison, only 7% of female thought so. Those female who thought to work hard is important and 3rd important are almost twice as much as male. But those female who thought to work hard it least important are about 3 times than male. It is evident that those who completed 16 to 20 years at school engaged in managerial % professional speciality jobs and most of the people who f inished 12 to 14 years at school were occupied with technical, sales Administrative Support jobs and Service jobs.Recommendations for Frank City Council According to the data analysis given above, I would suggest the council to be aware of the following factors. Of the sample, we can assume that in Frank City, there more females than males. The council should take special actions for caring the females, for instance, allocate special bus or trains just for females in order to avoid crimes speculation against females. The aging problem is becoming more and more serious due to the fact that people of 57 to 64 years old accounted for a largest proportion.Actions should be made to improve the medical services and more medical facilities are needed. More people live in the West region, so the council should build more public transportation services and facilities in the West region. It is of great importance to allocate appropriate funds to the West in order to keep the capital construc tion. It is beneficial to the society to provide better education opportunities to both genders in order to keep the balance of each types of job.People are better motivated when same amount of genders engage in work.

Liverpool City Brand and a Case for Rebranding Essay

Liverpool City Brand and a Case for Rebranding - Essay Example The present research has identified that the concept of city branding is fairly new and it corresponds to the development and growth of the tourism industry over the past century. This is because most cities have sought to become more competitive. This is done by packaging and presentation of their position as a tourism destination in a unique way and manner. This section of the report will provide a critical review of the concept of destination branding and brand strategy are the main tools employed by cities and communities to deal with the marketing needs of their destination. This section will examine the concepts and ideas of destination branding and how it occurs in the natural setting. Brands are marks of identification of a given kingdom, country or civilization. Destination branding creates an image and perception of a given place. In other words, it is a tool employed by city authorities and other stakeholders to present the destination to the markets and also get people to become interested in visiting the destination. This builds emotional connection as well as brand equity. â€Å"A destination brand is the totality of perceptions, thoughts, and feelings that customers hold about a place†. This implies that destination branding. This implies that destination branding is a way of creating a mental image and view of a given space or place in order to connect with the average consumer and potential tourist. Destination branding leaves an impression o a consumer and gets the consumer to build some kind of affinity or connection to a given place or destination. â€Å"Destination branding is an organizing principle that involves orchestrating the messages and experiences associated with the place to ensure that they are as distinctive, memorable and rewarding as possible. Successful destination brands reside in the customer’s hearts and minds, clearly differentiate themselves, deliver on a valued promise and supply customer desires.†

Causes and Impacts of the French Revolution Research Paper

Causes and Impacts of the French Revolution - Research Paper Example However, the long period of revolution had positive impacts for the country as the citizens acquired equal rights and terminated the oppressive regimes that had continuously oppressed the rights of the public. It marked an end for unreasonable tax policies, oppression of peasants, and the decline of dictatorship. From this perspective, the French revolution was an expression of the political, financial and social crisis that had affected the country, and its results contributed to a positive transformation of France. The looming financial crisis in France was a major contributor to the events that occurred during the French revolution. By the end of 1789, France was in great debt and the country was already heading to the worst financial crisis. The country’s debts were as a result of the country’s participation in the Seven years’ war and the American Revolution war (De Tocqueville 12-19). The government of France had invested in the war and the country was already in a financial crisis at the time the war ended. Besides, the government was spendthrift and the country resources were used extravagantly. Consequently, the government was under pressure to devise ways to alleviate the crisis and fund its extravagant spending. The king was in fear that it would soon become hard to run the government if new strategies of the financial collection were no passed. When the government introduced burdensome tax policies, the Peasants were resistant and felt that the regime was becoming unbearable. The social activists mobilized the public to resist these changes. What followed was resistance to pay taxes as the peasants felt the need to fight for a fairer society which would be the government with economic balance. Therefore, an oppressive tax policy was the trigger that initiated the French revolution.

Written Assignment 2 Term Paper Example | Topics and Well Written Essays - 750 words

Written Assignment 2 - Term Paper Example More to this, the recruitment process does not allow for the integration of diverse skills as the organization considers employees from only two sources. Allowing managers to set their own interview questions introduces bias in the interview process, because the questions may not reflect the overall goals of the organization. The human resourced department also gets many interruptions from the other departments. The president, for example, influences the recruitment process, and managers dictate the payment terms of a number of employees. One of the major concerns in this company pertains to the recruitment of staff from two main sources. Given that one of the sources relate to the President’s former University, handling the issue may be a challenge, due to the involvement of top management in the recruitment process. Therefore, the director may be compelled to face the president intent on changing the unhealthy recruitment process. This practice inhibits diversity of the organization as it concentrates on two types of employees who have the same orientation, thus hindering creativity and innovation in the organization (Shaheen, 2010). Creativity and innovation in an organization boosts the competitiveness of an organization. Consequently, absence of such aspects in the organization may hinder the organization from reaching its potential. The second issue facing this company relates to the way employees get rewarded. Managers determine the compensation of some employees, without considering their education, experience, as well as geographic region. This results in imbalances in the reward system, which may hinder the morale of the workers when they compare their salaries with that of their peers (â€Å"Vanderbilt University†, 2014). Managers cause this problem by discriminating among employees. They favor a number of the employees at the expense of the others, which leads to internal inequity in the

DB1 Kroger Essay Example | Topics and Well Written Essays - 250 words

DB1 Kroger - Essay Example A case in point is the assertion that the firm has managed to mitigate competition fronted by the likes of Whole Foods. The above findings were shared by Plunkett (2011) who also noted that KR’s tendency to acquire firms, as was the recent case with the Harris Teeter, has solidified the company’s foundation. By engaging in merger or acquisition of other firms coupled with the never-ending commitment to innovation, KR’s success could be said to long lasting. Besides availing facts on the company, the writer has demonstrated impeccable research skills as evidenced by a couple of things. First is the accuracy clarity of the figures about the company. For instance, Smith (2013) who asserts that the company’s sales have remained ahead of other firms besides Walmart further confirms the reporting of KR’s sales increase. Secondly, the writer was able to provide KR’s share price, which is currently $70. The three areas the writer has provided more than just clarity is the financial and industry position, and the subsequent economic outlook. In addition, by concluding the company’s investment potential to be okay, the writer’s assertions are informed by the in-depth research as well as tremendous statistical projections. Evidently, this paper’s quality can only be termed superb since it has met all the requirements in terms of facts, arrangement and avoidance of plagiarism. For that reason, this work is hereby described as exemplary for the reasons

Issue Analysis Essay Example | Topics and Well Written Essays - 1250 words

Issue Analysis - Essay Example Though there is no definite law protecting bisexual, lesbian, and gay employees from discrimination at work, there are possible amendments to existing laws that could benefit bisexual, lesbian, and gay employees, dependent on the jurisdiction the employee is in and the type of employment the employee holds. For employees employed by the federal or state government, in case of termination, there should be the option of suing the employer based on a violation of federal or state due process and equal protection of law. The procedural due process case should be able to assert that the termination of the bisexual, lesbian, or gay employee violated due process if the employee was not given an opportunity to be heard or a proper notice prior to the date of effectivity of the termination. A considerable due process case should address the equality of the law itself. The employee should be able to file a case against the employer in case the federal or state's termination of the employee for being bisexual, lesbian, or gay in unreasonable and would dispossess the employee of a property or personal right ensured by the constitution. An equal protection argument must be able to assert that the employer gave a different treatment to the bisexual, lesbian, or gay employee from other equally placed employees, for no grounds that are justifiable in law (4). E Employers have no trouble dealing with the worry of proving that the reason for a government action is rational. Until now, alienage, nationality, and race are the only classifications that were directly given the mantle of suspect classification that has produced the instinctive utilization of the pressing state interest test (5). Also, quasi-suspect qualifications were recognized by the Court (6), and merely one court has spared putting lesbians, bisexuals, and gays in this classification (7). That middle ground between rational basis and suspect class require a showing that the government action can be "significantly associated to a valid interest of the state" (8). For employers, it is not hard to defend the disparity in treatment between non-gay and gay employees under the more relaxed rational basis test. Even though courts have largely backed off from allowing a disparity in management based mainly on the employee's identification or standing as lesbian or gay (9), it gener ally does not take much to prove that being lesbian or gay is, on way or another, linked to performance at work. For example, the possibility of security risks from discovery of lesbian or gay employees' affinity orientation was a frequently used justification in treating these employees differently (10). This happens even when the employee does not really conceal their orientation or affinity so that "discovery" is not really a concern (11). On the other hand, some local and state jurisdictions have in fact implemented laws particularly to protect lesbian and gay public employees from discrimination at work, therefore freeing them from this legal struggle over due process or equal protection classification (12). Private Employees The situation is not considerably different for private employees. There is almost no protection from suffering job discrimination merely by being bisexual, lesbian, or gay, or being perceived as such, unless the employee resides in one of the few states that have anti-discrimination laws (13). Under the

Leadership and Management Essay Example | Topics and Well Written Essays - 250 words - 1

Leadership and Management - Essay Example Therefore, Management entails provision of stability to an organization. This is because managing involves planning in details on the issues that subordinates will work on. This will ensure that the objectives of the organizations are geared towards improving the performance of an organization. Management involves strategizing and creating policies that will empower individuals and teams to enhance smooth operations. Proper strategizing reduces intrinsic risks as well as generating success. This is why; management is focused towards producing results (Bush, 2010). Leadership on other hand has different characteristic activities. Leadership facilitates decision making by making sure that people are given a chance to provide ideologies towards achieving the set goals. Leaders are focused towards solving the already existing problems as well as devising measures to deal with them. Leadership entails risk-taking which is crucial in enhancing individuals’ values. Achieving the right long-term goals is one of the main aspects related to leadership. While short-term achievements are crucial to management, leaders ensure that an organization’s culture is intact and that followers have the right work environment (Bush, 2010). In conclusion, the discussed activities are focused towards enhancing the success of organizations. Leadership and management are two crucial elements that will enhance individual values towards achieving the success of an

DB1 Kroger Essay Example | Topics and Well Written Essays - 250 words

DB1 Kroger - Essay Example A case in point is the assertion that the firm has managed to mitigate competition fronted by the likes of Whole Foods. The above findings were shared by Plunkett (2011) who also noted that KR’s tendency to acquire firms, as was the recent case with the Harris Teeter, has solidified the company’s foundation. By engaging in merger or acquisition of other firms coupled with the never-ending commitment to innovation, KR’s success could be said to long lasting. Besides availing facts on the company, the writer has demonstrated impeccable research skills as evidenced by a couple of things. First is the accuracy clarity of the figures about the company. For instance, Smith (2013) who asserts that the company’s sales have remained ahead of other firms besides Walmart further confirms the reporting of KR’s sales increase. Secondly, the writer was able to provide KR’s share price, which is currently $70. The three areas the writer has provided more than just clarity is the financial and industry position, and the subsequent economic outlook. In addition, by concluding the company’s investment potential to be okay, the writer’s assertions are informed by the in-depth research as well as tremendous statistical projections. Evidently, this paper’s quality can only be termed superb since it has met all the requirements in terms of facts, arrangement and avoidance of plagiarism. For that reason, this work is hereby described as exemplary for the reasons

Leadership and Management Essay Example | Topics and Well Written Essays - 250 words - 1

Leadership and Management - Essay Example Therefore, Management entails provision of stability to an organization. This is because managing involves planning in details on the issues that subordinates will work on. This will ensure that the objectives of the organizations are geared towards improving the performance of an organization. Management involves strategizing and creating policies that will empower individuals and teams to enhance smooth operations. Proper strategizing reduces intrinsic risks as well as generating success. This is why; management is focused towards producing results (Bush, 2010). Leadership on other hand has different characteristic activities. Leadership facilitates decision making by making sure that people are given a chance to provide ideologies towards achieving the set goals. Leaders are focused towards solving the already existing problems as well as devising measures to deal with them. Leadership entails risk-taking which is crucial in enhancing individuals’ values. Achieving the right long-term goals is one of the main aspects related to leadership. While short-term achievements are crucial to management, leaders ensure that an organization’s culture is intact and that followers have the right work environment (Bush, 2010). In conclusion, the discussed activities are focused towards enhancing the success of organizations. Leadership and management are two crucial elements that will enhance individual values towards achieving the success of an

Automated Services Essay Example for Free

Automated Services Essay Guidance and Counseling System is the most critical discipline office in many institutions such as the education sectors. Schools, Colleges, and Universities are depending on the Guidance Office to guide students to secure their welfare mentally and academically. Students that are carefully guided by the office until they graduated are most likely to be successful in their professional careers. Guidance and Counseling System is composed of many services that help the student cope in their school life particularly in College life which is the transition of puberty and adolescence. Students find it hard during college to express themselves and make important decisions regarding their career. So the Guidance and Counseling Office will enable them to make wise decision by offering them Guidance Services essential functions. In UPH-DJGTMU, the Guidance and Counseling Office is using manual system, that’s why their services is not that efficient. The Automated Services of Guidance and Counseling Office will enable their services be more available to students. Project Context UPH-DJGTMU Guidance and Counseling Office has a hard time attending to their offered services because it doesn’t have an automated Guidance System. And because of that, student is not serve completely, its services is not implemented well because of manual system of doing task such as updating particular records, inventory of student records, scheduling student counseling, updating career information, proposing seminars and orientations, handling student complaints, issuing a parents meeting with the counselor, making contact with outside companies for the student tracing program after they graduate and other important services. Those tasks are sometimes not well handled because the office has limited personnel. Since the Guidance and Counseling Office is lacking of manpower, it is understood that all services and task of the Office cannot carry out smoothly. That’s why our group decided to propose an Automated Guidance System which we called Automated Services of UPH-DJGTMU Guidance and Counseling Office. Purpose and Description This system will enable the Guidance personnel’s to keep their student service systematic. The Inventory Service will keep records of the student basic information. The Information Service will orient the students particularly the freshmen’s on how to choose their career by showing the possible job opportunities of their offered courses. The Counseling Service will keep track of the students counseling record and to help them win mental and academic problems in college life. The Follow-up Service shall assist the students in situating themselves on finding the most appropriate job after they graduate. The Placement Service includes a Virtual Tour that shows the Dean’s Office of the Medical University and other important offices. Referral Service shall recommend students into a more specialized person regarding their mental case problem. The Seminar Inquiry will keep track of the seminars and orientations of the Guidance Office that has been executed on Medical University. It allows seminar evaluation to recognize the importance of a seminar. The Letter Information stores all the letters made to stored records and review for future use. The Student – Teacher Welfare Section will help the both party to express their complains and do further actions regarding the issue. All references and records are kept confidential because the system is password protected and can the password can be modified from time to time. Objectives a. General Objective: To develop a system for the automation of the Guidance Services that can help them serve students with the highest quality. b. Specific Objectives: * To automate Student Profile Records for faster indexing. * To update orientation and seminars simultaneously by the help of surveys. * To orient the students particularly the freshmen’s on how to choose their career by showing the possible job opportunities of their offered courses. * To keep track of the students counseling record. * To recommend students into a more specialized person regarding their mental case problem. * To record and evaluate seminars * To enable Virtual Tour on the Medical Building Dean’s Offices and other important Office. * To record student-teacher complains and make actions to solve conflicts between student and professors. * To allow the Graduate Students to register into the Graduate Tracer Study which will enable them to find suitable job according to their respective course. Scope and limitations The proposed system was designed and developed to provide UPH-DJGTMU the most effective tool to innovate their current Guidance System. This system is composing of the following features: * Inventory Service * Information Service * Counseling Service * Placement Service * Follow-up Service * Referral Service * Seminar Inquiry * Letter Information * Student-Teacher Welfare Section It limits the user only to Guidance Personnel’s and not made to be used by students. Benefits and Impacts The system was made to serve the students of UPH-DJGTMU by helping them thru the Guidance Services what will make huge change on the services done on manual system. To produce academically and mentally molded students is the goal of the automation. In this study, the target beneficiaries are students. The system will offer them systematic guidance services which will guide them throughout college life, they will be given the opportunity to enhance their abilities and talents by seminars, the system will also guide the student to the right path of choosing career the right course when they enroll. The system will also enhance the student-teacher relations in school, this will lessen the conflict issues between other faculties and students. The automated system will also refer students to outside institutions regarding mental issues to help them cope up with mental problems. The system also has company affiliation so when they graduate, the Guidance Office will also help them find a suitable job fit in their talents and capabilities. Definition of Terms Technical Terms 1. System – it is any collection of components elements that work together to perform a task and it is used in a variety of context. 2. Evaluation – act of considering or examining something on order to judge its condition 3. Hard disk – A permanently installed, continuously spinning magnetic storage medium made up of one or more rigid disk platters. 4. Memory – The memory area in which all programs and data must reside before programs can be executed or data manipulated. Non-Technical Terms 1. Field – The smallest logical unit of data. Ex: are employee number, first name and price. 2. Record – A collection of related fields (such as an employee record) describing an event or an item. 3. Password – A word or phrase known only to the end user. When entered, it permits the end user to gain access to the system. 4. Record – A collection of related fields (such as an employee record) describing an event or an item. Acronyms 1. RAD – Rapid Access Development 2. JAD – Joint Application Development Chapter II REVIEW OF RELATED CONCEPTUAL LITERATURE / SYSTEMS The concept of developmental guidance was born early in the 20th century. From its inception through the 1950s, the focal point of guidance in a school setting was vocational education and training. Heavily influenced by the industrial revolution and world war, the concern of counselors and teachers alike was to prepare students for life after high school. From a guidance perspective specifically, that meant steering students to careers that best fit their abilities and goals. By the 1950s, developmental guidance had grown to incorporate the molding of student attitudes and behaviors. More emphasis was placed on the mental health and emotional well being of children. (Muro Kottman, 1995) By the late 1960s, the role of the school counselor began to take its current shape. In its contemporary state, guidance has grown to include counseling, planning, placement, referral, and consultation Schmidt, 1993). At the same time, guidance at the elementary school was being developed and implemented. Along with the development of elementary guidance came the emphasis on prevention, intervention, and coordination (Muro Kottman, 1995). As the field of developmental guidance has grown, so have the emphasis educators have placed on coordination and cooperation. In a well functioning school environment, cooperation exists between all school staff members. For a comprehensive guidance program to flourish, cooperation between school counselors and teachers is paramount. According to Nugent (1990), next to counselors, teachers are the most important component in implementing a successful comprehensive guidance program. By and large, teachers are the key adult figure in the average pupil’s school day. They are the most influential figures, be it positive or negative, to the average student. This is particularly true at the elementary level, where children spend the majority of their day in one classroom. School counselors and teachers have co-existed in the school setting for quite some time. One would assume that over that period of time both professions would come to understand and accept one another. Some research suggests otherwise. According to Myrick (2003), some teachers hold misconceptions about the role and function of counselors. Counselors are sometimes reviewed as administrative assistants who have little time to counsel students. Fueling the misconception is the fact that some teachers distrust counselors, due to their apparent alignment with administration. These teachers are wary of counselors observing students in their classrooms. They worry that their teaching methods are being evaluated as if counselors work as the eyes and ears of the administration. Teachers who are uncooperative and unsupportive have criticized developmental guidance in general. These teachers believe that counselors have little, if any, impact on student behaviors or student performance. They do not like students from their classrooms working with counselors. They may even refuse to send their students to the guidance office. The refusal is based on the belief that counselors really do not help, and sending students to the guidance office during class time is a waste of time that only penalizes the student. Still other teachers will send their students to see the counselor, but only during student recess (Muro Kottman, 1995).

Managing Of The Activities To Achieve Results Commerce Essay

Managing Of The Activities To Achieve Results Commerce Essay The challenge facing business and society in the 21st century is how to use resources more efficiently. Every business large or small needs to consider carefully: how to reduce its use of energy How to minimize waste. The central economic problem is how to match finite resources with unlimited wants. With the demand for resources rising as the world economy grows this is becoming more of a challenge. Leading global companies like Anglo American strive to find new solutions to this problem every day. Anglo American is one of the worlds largest mining companies. Its portfolio of mining businesses spans precious metals and minerals in which it is a global leader in platinum and diamonds, base metals (copper and nickel) and bulk commodities (iron ore, metallurgical coal and thermal coal). The companys mining operations and extensive pipeline of growth projects are located in southern Africa, South America, Australia, North America and Asia. The purpose of the organization is set out in a mission statement. To be the leading global mining company through the operational excellence of world class assets in the most attractive commodities and a resolute commitment to safe and sustainable mining. In 2008 there was a downturn in world economic activity. This resulted from a loss of confidence in the world financial system. The downturn led to a steep fall in commodity prices such as coal, copper and platinum. By late 2009 these prices started to rise again as demand for commodities increased. Sustainability Although mining companies are affected by changes in economic activity, mining is a long-term investment business. Firms like Anglo American have to take a long term view of the business. This involves extracting commodities in a sustainable way over a long period of time. The company focuses on those commodities in which it has a favorable position. It concentrates on larger mines where extraction will be possible for many years into the future. It also looks at mining projects where costs can be kept to a minimum but where there are opportunities to expand operations. There are several issues of sustainability facing Anglo American. Key ones are: securing energy supplies, such as electricity and resources including water, for the future Managing emissions to minimize harm. Anglo American uses large quantities of energy in its operations. It also generates the potential for energy, e.g. by producing coal to generate power stations. A key aim of the company therefore is to do more with less. It must achieve maximum efficiency with minimum waste. Anglo American believes that by operating in innovative and socially responsible ways it can do things better than its rivals. Doing things better in business is referred to as competitive advantage. Social responsibilities are those duties to all the stakeholders of a business, not just the shareholders. Embedded within social responsibility is the concept of sustainable development. Sustainable development involves using resources so that: resources are available to meet the needs of people now resources can be available to future generations The needs of the natural environment are respected. Mission statement of the Anglo American Chairmans Fund To be the leading corporate donor in South Africa, through growing an informed understanding of the countrys developmental challenges, to apply the resources at its disposal to maximum effect in supporting and adding value to practical interventions, creating new opportunity and addressing urgent social needs. Corporate social investment (CSI) is an integral part of Anglo American South Africas business. It strives to strengthen the economy and better the lives of disadvantaged communities through projects that lead to infrastructural development, enhanced health and education, improved quality of life and a balanced ecosystem. The Anglo American Chairmans Fund supports projects throughout South Africa and these are grouped in a programmatic approach to ensure higher impact for beneficiaries and optimal use of resources. TASK 2 OPERATIONAL PLANS Aims and objectives Businesses need to have clear aims to work towards. Aims are the long term intentions of a business. They provide a focus for its activities. Anglo Americans aims are clearly set out in its mission. The aims involve a triple bottom line. Anglo Americans triple bottom line measures its economic, social and environmental performance. Anglo American seeks to balance the triple bottom line across all its activities projects and operations. This would translate into: making a profit for shareholders providing returns to society by providing jobs or showing responsibility in international, national and local communities Minimizing any negative effects on the natural environment. Every business needs to break down its broad aims into more specific objectives. Objectives are the medium-term stepping stones that help a business achieve its aims. For Anglo American, these include: SMART objectives Businesses need to set out their objectives in ways that are clear and easy to measure. Using SMART objectives makes it easy to assess whether targets have been met. Specific relating to clearly identifiable targets, for example, to be the partner of choice for governments. Measurable set out in ways that can be measured. Examples include cost reductions, waste reductions or energy efficiency targets. Achievable objectives should not involve unrealistic targets. They should not be set too low either. Anglo American believes that making cost savings of $1 billion by 2011 is an ambitious yet achievable target. Relevant the objectives should relate to key business or corporate aims. For Anglo American this means using resources more sustainably. Time-framed giving a clear deadline or end point by which the objective needs to have been achieved. TASK 3 QUALITY SYSTEM A number of factors affect the research and development process. Cost is perhaps the most influential factor. Research does not come cheaply; introducing new technologies is expensive. Investment may be needed for a long time before introduction. It is important that there is a return on investment from the new products or processes once they are launched in order to justify the expenditure on research and development. Changing technologies are another influence upon product or process development. They provide Anglo American with a different way of meeting the needs of its customers. Changing technologies also have a long-term influence upon planning. Such developments may lead to new processes and the sharing of technologies through technology transfer across the Group. For example, the design and development of a new electro-hydraulic rig has reduced the time needed to drill mine shafts. New developments in conserving and recycling water have made it possible for Anglo American to mine in arid regions of Africa and Australia. It is also important that primary sector organizations develop their businesses responsibly. Anglo Americans business depends on it extracting raw materials from the earth. Anglo American takes a clear and positive approach to corporate social responsibility. Sustainable development is built into all its policies, strategies and business practices. For example, the company has developed a Socio Economic Assessment Toolbox. This set of procedures, advice and rules helps to ensure a responsible approach to operating in communities. Every decision is assessed for its economic, social and environmental impacts. This ensures that natural resources will continue to be available for future generations. TASK 4 MANAGE HEALTH AND SAFETY Aims and objectives set out the ends that firms are seeking to achieve. A strategy is the medium- to long-term plan by which the aims and objectives are met. Anglo Americans strategy is to create ways of working within the company that focus on sustainable development and balancing the triple bottom line. Values Anglo American has six guiding values. The values help to create a culture focusing on sustainability. The culture of an organization is the typical pattern of behaviours and beliefs held by its members. The culture affects the attitudes, management styles and decisions made by the staff. An important way in which a firm can shape this culture is by setting out a values statement. This clarifies what the organization believes in. For example, the safety of people is a core value of Anglo American. The goal is that of causing zero harm. Everyone in the organization understands the importance of working to reduce energy use and waste creation. Strategic programs In addition, Anglo American has a range of strategic programs designed to develop innovative ways to use new technology. The result is reduced energy use and fewer emissions. Some of the programmers are specific to a particular site. Others work across the organization. Examples of these strategic programs include: Investing in carbon capture technology. Coal fired power stations generate carbon dioxide emissions. New technology can be used to capture this carbon before release into the atmosphere. It can then be stored safely, e.g. underground. Investing in alternative energy such as wind power. Creating plans and actions for recycling water. Centralizing the global supply chain. This can cut down journey times and distances that materials travel. Anglo Americans strategy is to protect the environment and minimize the impact of its operations. Anglo American also aims to make a sustainable and positive difference to community development. This involves acting with integrity to build respectful relationship within the societies in which it works. Task 5: IMPROVE ORGANIZATIONAL PERFORMANCE Anglo American is a multinational organization with a high profile in the primary extractive sector. Because many new mineral deposits are to be found in developing countries, some of which have weak governance, Anglo American recognizes that it must be rigorous in observing local laws, even if they are not always enforced. It has a significant role in supporting good governance initiatives and boosting the opportunities available to the communities associated with its mines. Anglo American is a global leader in commodities which consumers value such as platinum and diamonds. As a world leading mining company, it yields good returns for shareholders. However, it recognizes that it has a range of other stakeholders. Employees need good working conditions and fair rewards; local communities require an investment in safe practices that are sensitive to local needs. Behaving in a socially responsible way is therefore crucial to Anglo Americans aims. This is why its values are so important. Placing an emphasis on safety through the goal of zero harm can help Anglo American to win the confidence of many of its stakeholder groups. Concentrating on minimizing environmental impact also signals a respect for nature and local populations. Through its aims and objectives and in its values and strategic actions, Anglo American is able to demonstrate a commitment to optimizing energy use and minimizing waste production. It aims to create a mindset throughout the company that focuses on sustainable practice. This will win the support of governments, employees, local communities and other stakeholders.

Comparing The Corner Residents and Dostoevsky’s Underground Man Essay

Comparing The Corner Residents and Dostoevsky’s Underground Man      Ã‚  Ã‚   I am a sick man.... I am an angry man. I am an unattractive man. [...] I don't understand the least thing about my illness, and I don't know for certain what part of me is affected. I am not having any treatment for it, and never have had, although I have a great respect for medicine and for doctors. [...] No, I refuse treatment out of spite. (Dostoevsky 1864: 17)    Fyodor Dostoevsky wrote these words around 1864 to describe the mental state of a hyperconscious retired bureaucrat whose excessive analysis and inability to act separate him from the mainstream of the society in which he lived. Dostoevsky's underground man, as he termed his character, is characterized by alienation, spite, and isolation. Dostoevsky presents the life of his character as a testimonial to the possibility of living counter to an individual's own best interests.    Frequently, the public debate over the those problems which occur in poverty-ridden urban environments is presented as if the inhabitants were copies of Dostoevsky's underground man who differed mainly in that they frequently had less education and more pigment in their skin. That is to say, although there are valid comparisons that can be drawn between the Underground Man and the inhabitants of west Baltimore who are so vividly depicted in The Corner, there are also important differences that make any claim of strict equality between a Russian intellectual from the nineteenth century and a 20th-century tout or slinger an absurd caricature. Moreover, the intent of portraying inner-city residents as Underground Men and Women is, frequently, to blame these people for all of their own problems, something t... ...and we may be in for another string of disappointing years in the War on Poverty and the War on Drugs.    Works Cited and Consulted: Dostoevsky, Fyodor. (1864) Notes from Underground. Trans. Jessie Coulson. Middlesex, England: Penguin Books. Hacker, Andrew. (1998) Two Nations: Black and White, Separate, Hostile, Unequal. In Reading Between the Lines: Toward an Understanding of Current Social Problems. Ed Amanda Konradi and Martha Schmidt. London: Mayfield Publishing Company. Simon, David & Burns, Edward. (1993) The Corner: A Year in the Life of an Inner-City Neighborhood. New York: Broadway Books. Wilson, William Julius. (1998) "Ghetto-Related Behavior and the Structure of Opportunity" in Reading Between the Lines: Toward an Understanding of Current Social Problems. Ed Amanda Konradi and Martha Schmidt. London: Mayfield Publishing Company.

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Carly Starkin Psychology Mrs. True January 9th, 2014 Quarter Project- The Glass Castle The memoir The Glass Castle stood out greatly to me when I was given synopses of our book choices for this project. I have a great interest in family dynamics and how a child’s upbringing could potentially affect him or her. I am also interested in mental disorders, although no particular disorder is specified in the book. Another reason why I chose this book was because I have a relative who has alcoholism and I have become increasingly interested on this terrible disease. Upon opening this inspiring memoir and reading the first few chapters, I was immediately drawn in. The Glass Castle taught me one very important thing about children who are growing up in an extremely dysfunctional household- they do not always turn out as messed up as their parents or guardians. In fact, the author, Jeannette Walls, actually turned out extremely well. She is a successful writer and journalist and seems to be happy with her life. She has showed me that carrying around some serious baggage does not always stop a person from reaching the top. In the memoir, Walls’ parents are extremely selfish and have no morals. There is little to no love shown to Walls and her siblings, forcing them to mature faster than they should have. For example, she had to cook her own food at the young age of three. If I had known nothing about Walls’ success upon reading this memoir, I would never have assumed that she is a bestselling author and big-name journalist. I do not think that Jeannette Walls wanted to share the story of her life with people for the purpose of entertainment. I believe her main focus was to give hope for people who are growing up impoverished or who have a... ...nly parties of one. No one wants to hear about how horrible your day was. Instead, it is always a better conversation when a happy event is being discussed. The Glass Castle definitely relates to psychology. Rex, the father, is an alcoholic. After learning about alcoholism in class, I certainly had a better understanding of why he kept going back to the bottle time after time. The mind of someone suffering from drug addiction or alcoholism is certainly a subject that is being studied in psychology classrooms and labs all over the world. The book is full of mental illness, some of which can be tied to nurture, some to nature. Jeannette Walls’ success can be tied to personal choice because she made decisions about her lifestyle that were not influenced by her upbringing. This is definitely a great book to discuss in a psychology class and I hope we get to do so.

GAAS, GAGAS and PCAOB Auditing Standards

Audit standards are set codes of conduct for auditors when auditing financial statements or other financial issues of a company. There is also a relation to performance audit and certain attestation engagements.The American Institute of Certified Public Accountants (AICPA) established all Generally Accepted Auditing Standards (GAAS). GAAS, in turn, formed the basis for other standards like the Generally Accepted Government Auditing Standards (GAGAS) and the Public Company Accounting Oversight Board (PCAOB). This paper seeks to define those three standards, while clarifying the similarities and differences between them.All the three standards have some underlying similarities. They all address the basic audit issues like transparency, accuracy, reliability etc of financial statements.They all also spell out standards for audit field work and performances, simultaneously spelling out, on a dynamic base, the education and qualifications required of the audit and audit assistants. All th e three standards ultimately target the protection of the firm and its assets or finances. They minimize operational risks. And though driven by different objects, GAGAS and PCAOB are based on the AICPA’s GAAS.The different objectives of the three auditing standards results in a difference in their content, approach, criteria and specifications. Nowadays, the GAAS primarily deals with audits of non-issuer public companies. PCAOB, on the other hand, addresses the concerns of auditors auditing issuer and certified public companies.Its hold in matters of issuer companies, as controlled by the American Securities and Exchange Commission (SEC) is paramount. GAGAS, as set by the Government Accountability Office, applies to government organizations or organizations availing government assistance, setting auditing standards for their functions, activities, programs and so on.[1]IntroductionThe external audits of governmental and non-governmental entities may be broadly classified int o Financial Audits, Performance Audits and Attestation Engagements. Auditing Standards have some General Standards, as well as Field Work Standards and Reporting (GAO, July 2007).The Generally Accepted Audit Standards (GAAS) are issued as Statements on Audit Standards (SAS)[2]. This is done by the Audit Standards Board or ASB which has been set up by the AICPA. These standards relate principally to the audit processes and procedures which are to be adopted by the public companies not issuing shares. [3]The General Accepted Auditing Standards are sets of systematic guidelines used when conducting audits on company finances, to ensure accuracy, consistency and verifiability of auditor’s action and reports.However, for auditing government bodies, the US Government Accounting Office sets separate rules and standards, outlined by the GAGAS. These include auditing of their activities and programs, as well as all their functions.The objective is to ensure proper use of funded assist ance availed from government bodies or agencies. (GAO, Jul 2008). Companies that issue shares and that are registered with the Securities and Exchange Commission were placed under the standards of the PCAOB[4].As per the provisions of GAGAS, their reference incorporates GAAS, unless the Government Accounting Office specifically excludes them through a formal announcement. Sometimes, depending on the audit requirements and the organization being audited, GAGAS may be used together with PCAOB.Basic Objectives and Premises behind all Audit Standards:The similarities amongst all the auditing standards may be drawn from their basic premises and government policies driving them. For example, all auditing standards serve as a regulatory tool, prescribing the process to be followed by auditors, and determining what is to be scrutinized in the financial statements, internal control processes and management performances.Audits done on an organization’s financial statements express an o pinion on the fairness with which the statements represent the status and changes in the financial position, operational results and cash flows.Universally, audits need to be performed by a person or persons who has/have adequate technical training and proficiency as an auditor. The auditors need to maintain their independence so that their assessment and opinions reflect an impartial and objective view of the issues involved. They are also expected to exercise due professional care in planning and conducting the audit report [5].The auditor must have sufficient knowledge of internal control processes so as to enable him to plan properly and arrive at the nature, extent and timing of tests to be performed for ensuring a proper audit. While in the field, the work needs to be adequately planned and properly supervised.The competency and sufficiency of evidence reviewed needs to be assured so that the auditor and others can form a proper opinion on the financial matters in the organiza tion, which is subjected to the audit.All performance audits have similar standards. The auditors must prepare written audit reports communicating the audit results[6].   The audit reports should be prepared and made available so as to ensure timely use by management legislative and other interested parties.The auditors must report the scope, objectives and methodology of audits. They must report any significant findings of audits and in the applicable cases, also the auditor’s conclusions.They should report recommendations for action. This is to correct problem areas and ensure operational improvement. They must state what auditing standard was used in the reporting. All cases of significant non compliance or abuse must be reported, found during or related to the audit. In some cases, this reporting has to be done to outside parties.Appropriate inspection and observation must be conducted to gather competent and factual evidence so that a reasonable opinion on the financia l state of affairs of the organization under audit may be formed.Audit work must be properly planned & materiality considered for arriving at considered opinions based on competent evidence by selecting appropriate nature, timing & extent of tests. Audits must be designed so that material frauds may be detected reasonably well.[7] It is notable that frauds are intentional misstatements.Material misstatements may result from direct & material illegal acts and this is to be considered in audit design so as to ensure the reasonable detection of such misstatements through the audit process.[8]   The auditor must detect any indirect illegal acts that may indirectly affect correctness of financial statements by applying audit procedures[9] (GAO, Jul 2007).Every audit strives to maintain accountability and transparency within any organizational policy, whether for governmental or non-governmental organizations. To this end, public resources within an organization must be efficiently, eth ically, effectively, equitably and economically utilized.Where this is not the case, audits prescribe the remedial steps to be taken in a time-bound manner by the organization’s management and other concerned parties. All assessments by the auditors must be objective, concise, independent and factual, as related to an organization’s financial or management performance. The auditor therefore needs to be independent and impartial. All this adds up to a case for complete professionalism and quality of audit processes.