Wednesday, January 15, 2020
Internal Control System Checklist ACC/544 Monday December 03, 2010 Dr. YouKnew Abstract Internal control systems are purposed to aid in managing an array of risks, while monitoring the integrity and reliability of operational and financial data. Internal control systems ensure the proactively of audits, at the same time as serving to ensure that policies and procedures are enforced to protect the companyÃ¢â¬â¢s financial information, limiting accounting inaccuracies and fraud. The following checklist is a tool to ensure that the objectives of internal control systems are met. Internal Control System ChecklistEthical Governance and Standards Ethical standards are the groundwork for internal control systems, where integrity is the basic principle. Business ethics show characteristics of acceptable business conduct, while ethics in internal control systems ensures that these standards are communicated, executed, reinforced, and monitored. When considering the following checklist for e valuating internal controls, three phases of the control evaluation are also applied. The three phases are understanding, assessment, and testing. I. Ethics & GovernanceYESNOComments Are the ethical standards exemplified by the board of directors?Are ethical standards reviewed with new employees either in orientation or by pamphlet? Are the ethical standards woven into employee evaluations? Are handbooks provided for ongoing review of ethical standards? Is there a process in place to review and correct bad ethical calls? Are ethical standards woven into business standards? Are fraudulent attempts in reporting communicated as intolerable to employees and management? Electronic Data Processing Electronic data processing guarantees against improper human intervention with computer processing and other transactions in a given organization.Computer programs help prevent access to certain information across departments and roles. Within the phases of the control evaluation the auditor wou ld want to ensure that each user completely understands his role and to protect the privacy of information given access. Ongoing assessment should be afforded to help each department head better manage user access and testing to ensure compliance. II. Electronic Data ProcessingYESNOComments Are policies in place to include reference check, security, and termination of employee security measures?Are the duties within the data processing system adequately segregated per role? (such as technical support, software developer, ect. ) Is the Electronic Data Processing system separate and independent from the operating and accounting departments? Is the Electronic Data Processing system such that it prevents duplicate documents from being introduced to the system? Are there adequate controls preventing changes to master files? Are there adequate controls over data entry to include supervision, current instructions, key verification of important fields and self check digits?Financial Reporti ng One of the three distinct objectives of internal control is to meet the responsibility of ensuring that financial statements are reliable. The term reliable involves the preparation of financial statements that are fairly presented in conformity with applicable financial reporting framework employed by management. The system of financial control over financial reporting therefore includes the design and implementation of policies and procedures necessary by managers to provide reasonable assurance that the ompanyÃ¢â¬â¢s statements are presented in accordance with the basis of accounting. Evaluation of financial reporting within internal control system should place emphasis on testing and assessment. The following checklist addresses some key areas of testing and assessment of internal control of financial reporting. III. Financial ReportingYESNOComments Is the statement of financial position prepared monthly and reviewed by management and the finance committee? Are the responsi bilities for the final review and approval of financial reports segregated from those for the preparation of reports?Are monthly, semi-monthly and annual reports prepared comparing income and expenses with approved budget and reviewed by the management and the finance committee? Did the company employ a char of accounts? Are the tasks for maintaining the general ledger suitably segregated from those for the custody of assets? Is there a written accounting policy and procedural manuals distributed to appropriate personnel? Checklists mainly service as a tool that both managers and auditors can use to review a specific departments internal control and for ongoing purposes also.Checklists should be both drafted and assessments completed by management who are accountable for the business processes. When completing the checklist, simple yes or no responses prove a strong or weak internal control system where additional notes for improvement are observed. Multiple questions are needed to make the proper assessment of a control system. In conclusion, internal control checklists are integrated with control evaluations to provide the best information about the functionality of a system where changes or adjustments can be made.
Tuesday, January 7, 2020
Martin Luther King as a Shaper of Modern Western Society Martin Luther King is one of the most notable figures of the modern American history, one, without whom the picture of the contemporary USA cannot be fully comprehensive. Although today he is mostly remembered for the way he met his death, half a century ago it was the way he led his life that influenced thousands of people, forging the foundation of what the American society represents now. Martin Luther King was a Baptist clergyman, social activist and the leader of the African American civil rights movement, who used non-revolutionary methods in order to bring his policies into life: sermons, peaceful marches, lectures and so on, thus acquiring the reputation of one of the greatest orators of his time. One of the most iconic actions performed by him was the famous March on Washington in 1963, when he delivered his most well-known speech, Ã¢â¬Å"I Have a DreamÃ¢â¬ . Martin Luther King became the youngest person who received the Nobel Peace Prize for his activities in the social sphere. In his rhetoric he used religious phraseology, which found widespread response among traditional Christian Afro-American population of the United States. After he was mortally wounded by a sniper, the wave of social unrest went through the nation, leading to more than a hundred of uprisings across the country Ã¢â¬â the Afro-Americans perceived his assassination as the sign of the social system being incorrigible and very often turned to much more violent methods of struggle, than King promoted, being attracted to the organizations like Ã¢â¬Å"Black PanthersÃ¢â¬ , who, in contradiction to the KingÃ¢â¬â¢s ideals, were popularizing armed response. Whatever one may think of todayÃ¢â¬â¢s picture of the American society, one nevertheless cannot but admit that Martin Luther King was one of the most important figures in creating it.
Monday, December 30, 2019
Sample details Pages: 8 Words: 2441 Downloads: 4 Date added: 2017/06/26 Category Marketing Essay Level High school Tags: Investment Essay Did you like this example? Ã Critically review the different methods of company evaluation Valuation tools including Share Value Analysis (SVA) and the value drivers of SVA and how they are seen to drive the value of a company. In order to critically review the different types of methods of company evaluation, one must understand the meaning of company evaluation and to understand what valuation tools are available to use for example Share Value Analysis (SVA), the drivers of Share Value Analysis and how they are seen to drive the company. In order to investigate information which is needed for evaluating companies there are certain factors which need to be considered, factors which affect the value of the company and the sources of information which are needed. There are specific analysis which must be performed before a company evaluation can be determined, these are business strategy analysis, accounting analysis, financial analysis and a prospective analysis. A business strategy anal ysis is the ability to evaluate the companyÃ ¢Ã¢â ¬Ã¢â ¢s present financial position and the likely performance in the future. There is the need to identify the companyÃ ¢Ã¢â ¬Ã¢â ¢s position in relation to its competitors, investigate the key successes and any potential risks that will affect the companyÃ ¢Ã¢â ¬Ã¢â ¢s business performance and to be able to identify how well the companyÃ ¢Ã¢â ¬Ã¢â ¢s successes and risks are being managed. An accounting analysis is the companyÃ ¢Ã¢â ¬Ã¢â ¢s accounting methods which can ultimately expose or obscure the companyÃ ¢Ã¢â ¬Ã¢â ¢s business strategy and economics. In order for the company to do this is must judge how effectively the companyÃ ¢Ã¢â ¬Ã¢â ¢s financial statements can reflect the business, and the ability to learn how to adjust any financial statements as needed. A financial analysis is the ability to evaluate the effectiveness of the companyÃ ¢Ã¢â ¬Ã¢â ¢s strategy, and to be able to make sound financial forecasts by examining all the cash flow measures and ratios of the companyÃ ¢Ã¢â ¬Ã¢â ¢s operating, financing and investment performance. The prospective analysis is the knowledge of how the company is performing and how it will perform in future markets which is the key to business decisions. A company evaluation is the process and procedures used to approximation the economic value of the company. A valuation of the company is used to determine the price by which they are willing to either pay or to receive to complete the sale of a business. Documents which are usually required to determine the company evaluation are the accounting documents Ã ¢Ã¢â ¬Ã¢â¬Å" income statements, balance sheets, cash flows and annual reports etc. Depending on what kind of requirements are needed, there are several methods which can be used, discounted cash flow, net assets, peer comparison and the estimated liquidation value. The company valuation process starts with a tho rough definition of the company in questions activity, i.e. where sales have been achieved, the different criteria a competitor/ potential buyer will take into consideration during the valuation process. There are, of course, several factors which come to the forefront when looking at the accuracy of these figures and of the companyÃ ¢Ã¢â ¬Ã¢â ¢s past activity. These questions include are the figures are realisable to give the company a true evaluation. There has been a move away from accounting practices as company evaluations become more independent. There is a difference between the accounting approach and the marketing approach in that the accounting approach of company evaluation in that it is past orientated and the value is high earnings related. There are other factors which need to be considered aside from the companyÃ ¢Ã¢â ¬Ã¢â ¢s earnings related monetary value. There is also the need to take into account several factors such as insufficient profit indicat ors, research and development expenditures, goodwill that the company has acquired. There is also the legitimisation of the accounting statements in regards to what is actually to the stakeholders, management and investors, that there may be different versions depending on the stake that it held in the company. There are several methods of company evaluation available, due to different accounting systems applying different categories. One of the most popular methods of evaluation is discounted cash flow, which according to discounted cash flow the value is the companyÃ ¢Ã¢â ¬Ã¢â ¢s total earnings in cash that a company realises in its business activity during the long term operation. The company value is then the discounted value of the expected future cash flow. There are disadvantages of this system it can only be successfully applied when the company is operating in a stable economic environment and if it is in the adulthood of its life cycle as in the introduction phase it has no real forecasting basis. As in the first year of operation, most companies make losses rather than gains. In a stable environment, cash flow can be forecasted almost exactly. If however the company is situated within a dynamic environment it is impossible to use this method of discounted cash flow as it is near impossible to determine any potential revenue or cash flow. Valuation with multiplication indicators is based on the comparison of company indicators. Price/ Earnings (P/E), Price/ Sales (P/S), P/EBIT, P/EBITDA are the most widely used indicators. These indicators are easy to get access to if the company is listed on the Stock Exchange, but if the company is not listed, average indicators of listed companies from the same sectors are taken into account. Again there are disadvantages to this system, this method can be applied on a developed capital market where the average indicators of a lot of companies have been identified for some time and can be used as multip liers. The multiplication evaluation cannot be used if the company starts its operation on a completely new business model and if there are no other companies with a similar profit structure on the market. Economic Value Added (EVA) is the net operating profit less adjusted taxes. The main advantage of Economic Value Added is it takes into relation the opportunity of the costs of capital. This method is when a certain amount of capital is invested with a particular aim to the investment, the returns are lost which could have been realised and they could have been invested in something else. The conditions of profitability are not meet by the revenues which exceed the expenditures. The most important factor in this method is the cost of the invested capital has to meet the return objectives and these are not taken into account. The Economic Value Added method has become one of the main methods in monitoring the birth of Shareholder value. The Economic Value Added is the measure of the value a company has created for itself over a period of time and is very closely linked with Discounted Cash Flows. The disadvantages to this method, like discounted cash flows, is in the accounting. Share/ Shareholder Value Analysis (SVA) is the full revenue to shareholders in both dividends and share price growth, calculated as the present value of future cash flows of the business, discounted at the cost of capital of the business less the market value of its debt. Shareholder value theory is setting an objective which can be achieved through the interests of other stakeholders, there is the need to ensure the long term satisfaction of creditors, suppliers, consumers and employees. In the centralisation of this theory lies the interests collectively of all stakeholders. There is only one condition that the stakeholders are satisfied and with this the main goal of the company is to reach the stakeholders goals. Company value can be increased only if the interests of the s hareholders and stakeholders are taken into account. The new standard in company evaluation is Shareholder Value Analysis (SVA) due to the increasing realisation of the defects of conventional accounting. Accounting practices give confidence to a short term view of the business and company evaluation. It also encourages under investment and accounting practice only seems to concentrate on tangible assets. Shareholder Value Analysis can avoid this bias performed by the accounting practice but to achieve the Shareholder Value Analysis potential there needs to be some sort of marketing in order for it to make a viable contribution to the company strategy. The principle behind Shareholder Value Analysis is that the company/ business should be run in such a way that it maximises the return on the shareholders investments. It is a tool used for calculating the Shareholder Value Analysis from any given investment, profit and growth projections which have been made. As Shareholder Val ue Analysis does not tell managers how to work out strategies, and that is why a marketing strategy is needed. The main purpose behind Shareholder Value Analysis is that the economic value is created only when the company earns a return on investment which exceeds the cost of capital. Without any kind of unique advantage , the competition will end up driving the cost of capital down, so creating a Shareholder Value Analysis is about building a sustainable competitive advantage. . Whereas marketing provides the tools and encourages Shareholder Value Analysis to be growth orientated and dynamic rather than how it would not exist without a marketing strategy except as a static tool which focuses on ways to reduce costs and assets. Within the marketing strategy, Shareholder Evaluation only provides answers for evaluating company options and decision making options. Shareholder Value Analysis is used to calculate the total value of a strategy by discounting cash flows. With discountin g it reflects that there is a time value on money and because money can earn interest then the same amount received last year is worth more in the future. It is self interest which increasingly puts pressure on the company to maximise their shareholder value. There are financial value drivers associated with Shareholder Value Analysis and the marketing process is seen to influence these. Firstly, the anticipated level of operating cash flow Ã ¢Ã¢â ¬Ã¢â¬Å" the greater future free cash flow anticipated the greater the return for the shareholders. Second, the anticipated timing of cash flow Ã ¢Ã¢â ¬Ã¢â¬Å" cash received today has more worth than cash received tomorrow so the cash flow is penetrated into the market earlier to positively generate more value. Thirdly, the anticipated sustainability of the cash flow Ã ¢Ã¢â ¬Ã¢â¬Å" the more lasting the cash flow, the greater the value which is created. And finally, the anticipated riskiness of future cash flow Ã ¢Ã¢â ¬Ã¢â¬ Å" the greater the perceived volatility and vulnerability of the companyÃ ¢Ã¢â ¬Ã¢â ¢s cash flow, the higher the cost of capital is to be used to discount the return for the shareholders. When it has been justified that a company value has been determined, there are several factors which should be taken into account besides the companyÃ ¢Ã¢â ¬Ã¢â ¢s revenue creating ability. Apart from current company investments for creating values, there are factors such as expected potential investments, cash flow and other opportunities for growth. A companyÃ ¢Ã¢â ¬Ã¢â ¢s valuation can also be due to its possession of assets which can sooner or later produce free cash flow but also so that in the future it will be able to obtain them. There are various differences between market value and book value. To obtain assets recorded in the balance sheet may cost more than their book value. Assets should be sold independently and should not be shown in the accounting statements as t hey represent value for the company i.e. its own name or brand e.g. Coca Cola etc. The synergy effects of resource combinations adds value to the company Ã ¢Ã¢â ¬Ã¢â¬Å" the employees etc and they are not a separate entity in the balance sheet or accounting statements. The company should be able to make use of the creative value of the functional areas e.g. trademarks, brand names, patents and business secrets. There are also the market forces to consider i.e. the size of the market, market share, market growth etc. Other factors which need to be considered are life cycle, driving forces, core competences, restrictions on entering the market etc. The features of the country the company is in is another big factor and a company should perform a PEST(LE) to assess the political stability, regional position, technological development within the country, economic situation of the country, and cultural development among others. There human resource organisation is also of importanc e to the company evaluation e.g. cultural motivation, intellectual capital, creativity of the company, business relationships, goodwill etc. The workforce and organisation is full of contradictions in that there are labour related costs but also this labour can influence performance. Employees are knowledge and help with the running of the business through this knowledge and abilities in return for motivation, financial security from the company. With motivation and satisfaction comes loyalty and commitment from the employee. Loyalty creates value, this includes loyalty from the employee, customers and partners as well as the companyÃ ¢Ã¢â ¬Ã¢â ¢s investors which can equal higher productivity, cost advantage and profit and growth. Business relationships are also important in creating value. Social and economic dimensions play a part in this. The evaluation of these business relationships depends on if the relationship is described as important or less important, and in ce rtain business sectors there is an emphasis on personal relationships because of competition in personal relationships as well. Performance evaluation is also an important factor as this provides important information for the company evaluation. The analysis framework for the performance evaluation is, orientation which is controlling, reporting and feedback, the second is balance which is the content and information available, and thirdly, consistency which is the strategic links as well as the harmony between application and importance. Performance measurements should provide the company with information supporting the decision making process and to ensure feedback. It is also important to understand what kind of information the company collects and on what. The source of the information and its character are important factors. In order to critically review the different methods of company evaluation, a number of issues needed to be investigated. What is company evaluation a nd how is it perceived. Another question which was examined is the valuation tools involved in a company evaluation. These included a number of factors Ã ¢Ã¢â ¬Ã¢â¬Å" discounted cash flows, Economic Value Added (EVA) and valuation with multiplication indicators. From this came Share/ Shareholder Value Analysis (SVA), their drivers and how they are seen to drive the value of a company. These are all very important factors when evaluating a companyÃ ¢Ã¢â ¬Ã¢â ¢s worth and to how that evaluation is perceived through a number of factors produced both by internal and external factors. Bibliography Doyle, P., (2000) Value-Based Marketing: Marketing Strategies for Corporate growth and Shareholder Value, Wiley, New York Thierauf, R.J., (1980) Management Auditing: A Questioning Approach, AMACOM, New York 1 DonÃ¢â¬â¢t waste time! Our writers will create an original "The different methods of company evaluation" essay for you Create order
Saturday, December 21, 2019
In todayÃ¢â¬â¢s technology driven world, itÃ¢â¬â¢s almost impossible to imagine the world without the Internet and its numerous benefits. It has become the platform for almost every field imaginable like business education, entertainment, communication, etc. The internet is everything Past, Present and Future.1 It has empowered us to exchange data, opinions and news across the continents. As per internetlivestats, there are approximately 3,207,910,219 internet users across the globe which is almost 45% of entire worldÃ¢â¬â¢s population. The internet has increased the reach of an individual by breaking all kinds of social, political, cultural, economical barriers and therefore, opening doors to wide stores of knowledge.2 Gradually Internet has taken the form a giant Organic System. Due to its colossal nature, it has multiple points of failure such as cascading failures, protocol errors, implementation errors, malicious attacks, etc.3 Internet has given new horizons to institutio nal practices, social interactions, educational practices, business practices etc. Due to the flexibility, efficiency and speed internet offers, it has opened new markets in the developing world. During late 90Ã¢â¬â¢s with the expansion of the internet, dot com bubble started to grow. Along with this, there was considerable increase in the online retailing. Internet is used by online retail companies to perform some basic commercial actions such as advertising themselves, gathering customerÃ¢â¬â¢s taste, providingShow MoreRelatedA World Without Internet?1201 Words Ã |Ã 5 PagesA world without internet? One day, many years ago, a brilliant man by the name of Tim Berners-Lee created an extraordinary thing, something that was to revolutionize the entire human race and its existence. 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People over the world have access to the Internet at their home that allows them to be educated, to communicate with families and friends from far distance, and to be entertain by movies. Colleges, hospital, and other public places also provide free Internet for people to use. Internet makes it possible for people to share their knowledge of education and their experimental around the world. Teachers across the world can communicate with each other better than beforeRead MoreThe Internet And Its Effect On Society1540 Words Ã |Ã 7 PagesWe are living in a world where the Internet has become an integral part of our everyday life. Everything is at our fingertips through the Internet: school, work, business, personal, and so forth; that our society has made its usage almost mandatory. It has made everything easier and people today cannot even imagine how their lives would be without this genre of technologies. But, we cannot expect that something as useful as the Internet will not have adversely effects in people. However, in this
Friday, December 13, 2019
Introduction Any hospital, whether public or private, requires a clear and comprehensive system of management that will enhance the quality of all organizational initiatives. As with any other type of organization, a hospital must be able to handle tactical and strategic issues, and to guarantee smooth operation and continuity of all business processes. At the age of technological advancement, technology determines the quality, speed, and cost-effectiveness of organizational decision-making. We will write a custom essay sample on Technology and management functions or any similar topic only for you Order Now That is why the development and implementation of integrated IT frameworks is the key to a better quality of all planning, organizing, directing, and controlling processes that take place within a highly complicated clinical environment. Planning Planning is Ã¢â¬Å"unending course of actionÃ¢â¬ (Buzzle, 2008). The hospital I used to work at was trying to enhance the quality of all planning processes by using an Executive Integrated System (EIS), where budgeting tasks were reasonably combined with other key management functions. The hospital had successfully launched an effective software system, to provide managers with objective financial information and to eliminate wasteful paper-based operations. The system made it possible to track and manage medical order supplies, to evaluate the cost-effectiveness of all medical services, and to address spend management issues. Fully automated reports contained brief critical information with regard to costs and productivity indices for a given period of time. The previous information system had failed to deliver information in a usable form; very often, the needed information had been delivered too late. The newly launched EIS was efficient in a sense that it provided real-time information and maintained flexible approaches to planning (Keegan Baldwin, 1992). Any changes in financial or strategic management data were immediately reflected and delivered to the hospitalÃ¢â¬â¢s management, with the latter being able to timely respond to the emerging issues. Organizing Objectively, Ã¢â¬Å"management must organize all its resources well before in hand to put into practice the course of action to decide that has been planned in the base functionÃ¢â¬ (Buzzle, 2008). In hospital, organizing is probably the most complex and the most responsible management mission, which requires using a well-developed system of software solutions and maintaining reasonable combination of electronic and manual organizing procedures. The use of wireless communication systems has become the critical factor leading the hospital to total care quality standards. The introduction of bar coding for all medication items, the use of laptop computers at the bedside, and a new advanced paging system were aimed at providing employees with a better understanding of their responsibilities and tasks. However, despite the visible effectiveness of all these organizing solutions, hospitalÃ¢â¬â¢s personnel were largely unprepared to using advanced technologies in the workplace, and only with time, all administration and business organization processes have been harmonized to serve the needs of patients. By using the new wireless system of communication, the hospitalÃ¢â¬â¢s management has finally achieved the five major goals of the organizing process, including the effective division of labor, staff positioning, reasonable departmentalization, delegation, and equalizing the power. Directing Although organizing is the most responsible of all management functions, it loses its relevance, if organizations cannot direct and motivate their employees. Our hospital had initially been trying to change the traditional vision of health care management, and to make the directing function of management Ã¢â¬Å"more technologicalÃ¢â¬ . It should be noted, that a hospital usually resembles a kind of a virtual team, where team members are scattered across different physical locations but need to maintain continuous intrapersonal relationships. At our hospital, voice conferences were used as the means of synchronous communication between different hospital departments. Voice conferencing was chosen as the communication tool, which did not distract employees from their direct functions, but could be used to ensure that all of them understood the hospitalÃ¢â¬â¢s strategic goals. Emails and written documentation were used to enhance the quality of virtual communication with employees and between employees and the senior hospitalÃ¢â¬â¢s management. Unfortunately, technology could not resolve all directing issues; very often, employees needed face-to-face consultations to establish credibility of their organizational efforts. However, with time voice conferences have substantially changed the quality of employee relations at workplace, providing management with an effective real-time tool for directing and motivating medical personnel. Controlling Controlling is the last out of four functions of management, which Ã¢â¬Å"includes establishing performance standards which are of course based on the companyÃ¢â¬â¢s objectivesÃ¢â¬ (Buzzle, 2008). In case of the hospital, controlling was used to evaluate employee performance by means of several automated performance appraisal systems in the workplace. As a result of technologies implementation, the time allowed for the completion of performance evaluation forms was dramatically reduced; the hospitalÃ¢â¬â¢s management was given an opportunity to manage workflows and to track the progress of the performance evaluation process. Although the majority of medical personnel needed time to learn additional technical skills, the system has significantly improved the quality of all business processes within the controlling area. Technology has proved to be an excellent tool of developing cohesive relationships between employees, as well as between employees and the senior management, and has finally created a technologically enhanced management environment across all hospital departments. Conclusion The use of reliable technological solutions is the key to developing and implementing an effective management system in a highly complicated hospital setting. With the use of budgeting solutions, automated organizing techniques, voice conferences and performance appraisal strategies, a hospital is likely to turn into a technologically advanced, and as a result, a highly organized system of employee interrelationships, which in turn substantially improve the quality of medical services delivered by the hospital to all groups of patients. References Buzzle. (2008). Management concepts Ã¢â¬â the four functions of management. Buzzle.com. Retrieved January 16, 2009 from http://www.buzzle.com/articles/management-concepts-the-four-functions-of-management.html Keegan, A.J. Baldwin, B. (1992). EIS: a better way to view hospital trends Ã¢â¬â executive information systems. Healthcare Financial Management. Retrieved January 16, 2009 from http://findarticles.com/p/articles/mi_m3257/is_n11_v46/ai_14176789/pg_3?tag=artBody;col1 How to cite Technology and management functions, Essay examples Technology and Management Functions Free Essays The diversely changing business environment has called upon strong models of technological outfit which address the core competencies with which organizations thrive on. Generally, the competitive advantage of the modern organization has only been possible pursuit to the advancement in the technological growth which has consequently helped to streamline the core organizational functions with their goals and objectives. Principally, technology has been of importance in aligning the core management functions towards a resting point of productive layout which gives such an organization adequate stepping stones towards which they can explore the proactive business opportunities within the highly competitive business environment. We will write a custom essay sample on Technology and Management Functions or any similar topic only for you Order Now My organization has indeed rested upon strong technological proximities as a tool for organizational governance based on adequacy in approach of the basic core management functions. This is to imply that, technology has been used as a good source of organizational competence with which my company leverages on, providing it with a long lasting solution for competitive advantage. The technological component within my organization therefore has been a compound of various technological outfits which have been described as inherent in the modern business world in providing functionality, systems design, management and operational ability for the various activities and processes within the organization. Technological has not only been inherent subject to the use and employment of machines and tools, but also the use of intangible technologies and process that help to provide a continuous co-ordination of the day to day organizational activities within the organization as well as with the external stakeholders of the company (Dibrell, Craig, 2008). Various strategic and managerial issues have thus arisen from the same technological development. This has been leveled from the fact that technological development within the organization provide candid grounds with which the management can spearhead various managerial process aimed at strengthening the core management functions as well as other strategic ideologies that arise as aÃ result of development in technology. Conceptually, technology has continued to play wide range of importance in our organization, bringing into a close realization the core management functions with the expected strategic models of the company. Just to mention, the four management functions which are organizing, controlling, planning and leading, have all been subject to various technological implications. Adequacy in the functionality of the four has been provided by the interactive phenomenon between each and at least a specific technological component, which help in information dissemination and coordination across all the organizational components. An important facet of technology within my organization has been that of information technology, with which classically wide array of communication framework across the different organizational components has been necessitated (Lee, Tseng, 2009). Development and investment in business technology within my organization, that runs from simple mobile phone technology, to other information exchange and core production technological tools has been perhaps the building block of our current state of competence in the business environment that uses various operational advantages to address its needs within its approach. Business technology has been the corner stone with which my organization continues to embrace a widely classified competitive advantage from its operational symmetry classified with various advantages. Of importance also has been the investment in digital technology with which the organization uses to channel most of its activities and process through. The step towards management in business technology has thus helped my organization in unifying management and growth in technology towards a center stage of optimal decision making and attempt to build a long lasting spirit of the entrepreneurial motive. The quest for technology within my organization has rested on multiple of provisions which include software development, solution in communicating networking, maintenance in computer hardware, technical support systems and the diverse development in the productive technology of the organization. Reliance in computing and other computer related technological components have helped in giving a motive of strong reliance with which my organization can achieve its broad productive mission. By and large, technology has by far helped to address the organizational needs not only by providing an arms length with which the various management functions can continuously integrate with each other, but also from the managerial perspective of comparative advantages it provides to the organization. Just to mention, advancement and investment in technology has provided various statutory benefits and implications for the organization. One, technology has been the basic tool with which my organization can undertake its processes and activities in a fast and speedy manner. This has also been doubled with high quality and quantity in output thus meeting the organizational objectives of competitive advantages (Dibrell, Craig, 2008). The use of computer and other technological devices for organizational production has been helpful in providing grounds with which activities can be done in fast and speedy manner. Deliveries and consignments have been able to be provided within their prescribed time frames. Technology has also been a cornerstone for which efficiency can be increased in all organizational undertakings. Efficiency in this perspective has been an importance hallmark with which logistic models that provide competitive advantage for the organization can be enhanced. My organization has thus been able to change and respond instantaneously to various business demands and expectations which foster optimal executions of their activities. Bias to informational technology for example, data can be stored in various formats which can be explored in a fast and efficient manner to bring about the need for corporate efficiency. Of importance also is the need for multi-tasking with which my organization has been able to embrace adequately subject to the investment in various technological provisions. Ã For, example, the use of computer and other computer related tools has enabled various persons at different levels of managerial components to perform different tasks at the same time. Multi-tasking within my organization has been one of the important attributes which help to provide optimal resource functionality. Additionally, technology within my organization has been perhaps the most important sediments and a path towards which cost precept can be internalized. The use of a wide framework of technology both in the computing, information technology and the productive process has been important in safeguarding the cost intercept of the organization (Lee, Tseng, 2009). Both information technology management and business process management have leveraged their axes on the importance of technology as a quest with which the organization can meet its productive layout without much difficult. Summarily therefore, business technology within my organization has thus been used as the core tool for improving communication as well as maximizing the efficiency component within the work place. The company has continuously used structural components of information technology as the main tool with which it can achieve classically various advantages in its productive framework.Ã It has seldom been able to align its strategic goals and objectives with its various managerial functions. A realized relationship has been achieved between the four levels of management subject to the use of technology as the core model with which it can address its wide array of its activities. Reference Dibrell, C. Craig, J. (2008). Ã¢â¬Å"Fueling Innovation through Information Technology in SMEsÃ¢â¬ Journal of Small Business Management, Vol.46, pp.67-79 Lee, Y. Tseng, H. (2009). Ã¢â¬Å"Exploring the Relationship between Information technology Adoption and Business Process ReengineeringÃ¢â¬ Journal of Management and Organization, Vol.15, pp.1-18 How to cite Technology and Management Functions, Essay examples
Thursday, December 5, 2019
Music From the sasss through the offs, two distinct forms of musical composition and periods came Into play that would change the way the world looked at musical performance In all Its revelations. Baroque music displayed music that expressed drama, expression of self and talent in retrospect to the way church felt had previously felt about in the medieval era of thinking. The form of Classical era music that began to engulf much of western Europe gave the spectator a sense of a wide emotional spectrum to feel as the instrumentation made its way among staff taxation, Orchestra, etc.Although both had similarities and differences, one must take a closer look at two important composers of both periods to gain a grasp on the individual notions of each and how they helped to drive the periods. The Brandenburg Concerto no. 5 in D Major, a piece by Johann Sebastian Bach (1685-1750), was part of a larger series called the The Brandenburg Concertos. We will write a custom essay sample on Comparing the Classical and Baroque Eras of Music or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This series was given as a gift to the Marriage of Brandenburg-Eschewed.This particular piece was of great Importance to the Baroque style, expressing very dramatic tones and shifts In orchestra. The entire piece consisted of flutes, violins, strings, and the harpsichord, a primitive piano that played a very supporting and above all else a concerti piece that seemed to unify the piece as a whole. The repetition of the piece is in a concerto gross format, consisting of a Tutu-Concerti-Tutu, where the song continuously traverses from a mezzo-piano to a fortissimo, with the Harpsichord as the strongest appearance.The texture and harmonic features of this piece is the dominant function of the D-MaJor with 8 and 16 note appearances, and coupled with rhythm of high pitch tones to a very strong finish help to make this composition a very influential addition to popular orchestrations in the Baroque period. Plano Concerto no. 23 In A Major, a composition by Wolfgang Amadeus Mozart (1756-Bibb exclusively published around the same time as his greater play, The Marriage of Figaro, to gain greater publicity.Mozart compositions helped to move the classical period to new heights, especially with the production of this great orchestra, consisting of one flute, two clarinets, two bassoons, two horns, and strings, along with piano. There was a great performance with the piano as the supporti ng function of the orchestra, and a repetition of a allegro in A-Major, an Andante in F-Sharp, and Presto in A finishing the piece. Throughout the composition, a soft tone could be heard that kept an almost fixed dynamic all throughout the piece, and was accompanied by 6/8 notes hidden within the sounds of the instruments. As for the melody of the piece, the first section was melancholic with a positive feel about it while the second part also portrayed a melancholic but opera type tone among the Instruments. The third part presented a very strong and cheerful melody that gave spectators a sense of happiness and excitement that was typical of the Classical period. The evolution from the Baroque period Into the Classical period was filled from the enlightenment and reformations that were taking place at the time.The Baroque started with an equal footing of both secular and religious works of music, unlike the earlier religious restrictions from the church. Individuals of that period began to pursue expressive ideas of creativity that was not monitored by any particular institution or class, and this gave music the dramatic and emotional cockade that individuals craved during this period, which gave rise to concerto gross. This form of musical individuality allowed a small group of performers to give dra matic displays of musical excellence for those willing to hear such a refined and sophisticated sound.As the period progressed however, more people began to want style, and performances based upon talent of the individual rather than the group, and so concerto came into the scene. A Concerto is the individual that performs one solo instrument in a talented and refined way to give the crowd the moment of aromatic expression, a moment when they are placed on the edge of their seats in anticipation. This became the classical period, a time of Greek revival of arts, sciences, and luxurious styles, architecture, and appeal.In both compositions produced by Bach and Mozart, there are a few similarities and differences, mainly because the classical period and baroque period intertwined within itself at certain periods in time. The similarities can be seen if one looks close enough, as the instruments used during both compositions are the same except for the harpsichord f Bachs piece, although the Piano, clarinets, bassoons and horns of Mozart piece Newer added as Classical technology began to succeed the baroque period.It seems as though Bachs piece gave a soft to intense moment at any given time, while Mozart tended to express softer tones throughout his composition s. In terms of Bachs concerto gross, the reader needs to understand the Baroque style that the elite Noshed to hear smaller groups performing to refined tastes and did not want to hear one particular sound at that time. As the classical period aged, Mozart concerto took old, in which large scale audiences wished to see talent as it was meant to be heard, alone over a group of instruments that would simply drown out the talented individuals sound. In my view of Bachs work of musical genius, I could relate to the dramatic tone that the work entailed, mainly because of my lifes eventful days. The music itself offered me a sense of relaxation but with a sense of productive thought that gave rise to some of my creative writings in the past as well. I thought the sounds of the combined orchestra with the flutes and harpsichord in general gave he emotional attachment that I would look for with a mellow chord presentation and loud renditions of the flute.The slow increase from mellow to dramatic form with the solo of the harpsichord gave a very intense moment that I could truly feel and almost touch. In terms of Mozart piece, the emotional detail for me personally was much different, although I thought of his composition Just as highly. I personally felt much at ease with his music, but almost with a sense of not depression, rather a sense of the outside looking in at the world at large. The piano truly gave this composition the purp orting role to move the emotional sense of the spectator such as myself. Overall, would have to choose Mozart as my favorite among the two, only because for a musician to make the spectator think of the world as a whole rather than taking them Into the heat of human dilemma and actions. It was once said that an average looked out and said, I wonder how God created the universe. This is the same with Bach, who looked to find human emotion through the dramatic style of the Baroque period, while Mozart simply wanted to find the finesse and balance of the world through the Classical Period.
Thursday, November 28, 2019
Profile Dubai Refreshments Company (DRC) was established in 1959 in the United Arab Emirates (UAE) refreshment industry. The firm is headquartered at Dubai in the UAE. Initially, the firm operated as a limited liability company. However, it was later restructured into a Public Shareholding Company in 1994 (Dubai Refreshments 2013). Over the years, the firm has managed to attain an optimal market position in the UAE.Advertising We will write a custom research paper sample on Dubai Refreshments Company specifically for you for only $16.05 $11/page Learn More Its operations entail production, canning, bottling, and distribution of different soft drinks and beverage products. Some of the branded soft drink products that the firm deals with include Pepsi Diet, Mirinda Green Apple, Mirinda Citrus, Pepsi Max, Mirinda Vit C, 7up Free, Pepsi, Shani, and Mountain Dew. The firm also markets different evervess brands [non-carbonated soft drinks], which include Lipto n Ice and Lipton Ice Tea. The firm also deals with different brands of drinking water under the Aquafina brand name. Mission and vision statement DRCÃ¢â¬â¢s intends to position itself as the leading beverage company in the Gulf region. In a bid to achieve this mission, the firm is focused at developing a strong human capital, effective tools, and solid systems. Objectives DRC intends to achieve the following objectives in the course of its operation. To position itself as the market leader in the UAE soft drink industry. The firm intends to achieve this objective by investing in market growth strategies. To supply customers in the UAE with safe, healthy, and high quality soft drinks and beverages To develop a strong relationship amongst its clients and the employees Strategies The success of businesses is dependent on the type and quality of strategies that an organisation has implemented. An organisation can adopt three main levels of strategies and they include corporate, busi ness, and functional level strategies. Dubai Refreshments has integrated the three levels of strategies as illustrated herein. Corporate-level strategies Corporate level strategies are aimed at developing a comprehensive definition of the business undertakings of an organisation. The corporate strategies are formulated in such a way that they contribute towards the improvement of the product lines and the business units of an organisation (Goold et al., 1994). An organisation can adopt a number of corporate level strategies and some of these strategies include formation of mergers and acquisitions, creation of new business units, establishment of new plants or product lines, divesting some business units, and formation of joint ventures.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the course of its operation, Dubai Refreshment Company has incorporated a number of corporate l evel strategies. One of these strategies includes the formation of merger and acquisition. In 2003, the firm acquired 7 Up from the National Refreshment Company. The firm incurred $ 18 million during the acquisition. The acquisition has played a critical role in promoting the firmÃ¢â¬â¢s performance. For example, the acquisition led to improvement in the companyÃ¢â¬â¢s level of profit from Dh 15.9 million in 2002 to Dh 22.9 million in 2003 (Nair, 2004). Moreover, the companyÃ¢â¬â¢s market share increased from 46% to 65%, which represents a significant growth. The firmÃ¢â¬â¢s growth has also emanated from the recognition of the importance of market growth. Consequently, the firm is committed towards establishing new plants in different parts of the UAE. In 2010, the firm announced its plan to establish a new state-of-the-art production facility that will be located at Dubai Investment Park (Zawya, 2010). The new facility will be the biggest in distribution outlet in the MENA region. Therefore, the facility will enhance the firmÃ¢â¬â¢s effectiveness in distributing its products to local and international customers. The firm adopted this strategy in an effort to serve its growing number of local and international customers. The firm has also adopted diversification strategy as one of its corporate level strategies as evidenced by the broad product portfolio that the firm has developed over the years. Business level strategies These strategies outline how an organisation intends to compete. Business level strategies are applied to a particular product line or business unit. Therefore, they outline that a particular product line will attain competitive advantage in its market. Some of the strategies that an organisation can adopt in this level include advertising, research and development, new product development, equipment and facilities acquisition, and product changes amongst others. Dubai Refreshment Company is committed towards achieving market domin ance. Consequently, the firm has adopted the Integrated Marketing Communication concept in an effort to create sufficient market awareness regarding its products. For example, after acquiring 7 Up, the firm invested in an aggressive integrated marketing campaign, which played a critical role in promoting the beverageÃ¢â¬â¢s market position. Currently, 7 Up is ranked second in the soft drinks in the Northern Emirates, Dubai, and Sharjah. The firmÃ¢â¬â¢s business level strategies also entail investing in new technologies. In 2005, the firm invested a substantial amount in an effort to improve its operating systems. Some of the technologies that the firm integrated include handheld terminals for sales and ERP implementations. Moreover, the firm also improved its infrastructure by establishing a new logistics and distribution facility at Sharjah. DRC has adopted the concept of new product development and continuous improvement.Advertising We will write a custom research paper s ample on Dubai Refreshments Company specifically for you for only $16.05 $11/page Learn More Functional level strategies These strategies outline how an organisation intends to augment the business level strategies. The functional strategies relate to the various functional departments in a particular business unit. Some of these departments relate to research and development, manufacturing, marketing, and finance. In the course of its operation, DRC has established a number of functional units. The firmÃ¢â¬â¢s operations are divided into a number of departments, which include human resources, operations, finance, procurement, sales, Information Communication Technology, legal, and the projectsÃ¢â¬â¢ departments. The company has outlined the roles and responsibilities of every department in an effort to achieve the desired level of synergy. Business environment The above objectives and strategies align effectively with the external and internal business environments. For example, the corporate level strategies adopted have enabled the firm to achieve high growth. As a result, the firm is in a position to deal with competition that is increasingly becoming intense. On the other hand, the adoption of business level strategies such ad advertising has enabled the firm to achieve economies of scale. The firm has been in a position to create sufficient awareness regarding its products and services to a large number of customers hence developing a high level of customer loyalty. The functional level objectives and strategies have played a critical role in improving the firmÃ¢â¬â¢s ability to deliver value to its clients by developing an effective value chain. By adopting the concept of new product development, the firm has aligned its operation with the changing consumer tastes and preferences. Consequently, the firm has developed a high level of customer loyalty. Corporate Governance The firm appreciates the importance of effective cor porate governance in its success. Consequently, the firm has adopted a number of corporate governance strategies. One of these strategies includes providing full disclosure of its operations to the employees and other clients. For example, the firm discloses the reports by the Board of Directors and annual reports. These reports are issued to the public in an effort to develop a high level of transparency. Board of Directors The firmÃ¢â¬â¢s Board of Directors include Mr. Muhannad Saif Abdul Rahman Al Ashram Mr. Mana Mohammed S. Al Mulla-Managing Director Mr. Mohammed AbdulAziz Al Owais-Director Mr. Ibrahim AbdulRazaq Mohad Ustadi-Director Mr. Ahmad Bin Eisa Al Serkal, Chairman Mr. Muhammad Hadi Ahmed Al Hussain- Director Bin Abdullatif Al Serkal (Dubai Refreshments, 2013). The various board members play a critical role in the operation of the firm, which arises from the view that they have developed varying level of relationships with other external stakeholders. As a result, th e board members enable the firm to develop a strong connection with the other stakeholders. The board of directors has a voting right on some strategic issues affecting the firm. However, the board of directors does not hold shares in the company and this decision is informed by the need to eliminate conflict of interest.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Moreover, the board members have vast knowledge and experience on various business issues. The board members advise the firmÃ¢â¬â¢s top management on various strategic management issues such as acquisition, research, and coupled with how to achieve the desired level of growth. However, there is complete separation of power between the top management and the board members. The top managers have the discretion to implement the recommendations proposed by the board members. Thus, they do not merely rubber-stamp the top managementÃ¢â¬â¢s proposals. Top Management In addition to the board of directors, the companyÃ¢â¬â¢s corporate governance structure is comprised of a number of top managers who include Mr. Tarek Elsakka Ã¢â¬â The General Manager Neeraj Vohra- Chief Financial Officer Wael Nehme-Assistant General Manager Sherif ElMeligy Ã¢â¬â Director and Manager of Marketing and Sales (Dubai Refreshments, 2013) The top management has been very effective with regard to strat egic management. Consequently, they have assisted the firm in formulating and implementing different corporate, business, and functional strategies. The strategies formulated by the top managers have played a critical role in enhancing the firmÃ¢â¬â¢s ability to deal with changes emanating from the external business environment. For example, the managers have assisted the firm to acquire other firms successfully. The top management team has implemented the concept of social corporate responsibly, which has enabled the firm to operate in a social responsible manner. The top managers have sufficient knowledge in different fields such as accounting, finance, marketing, procurement, human resource, and sales. All the above managers have held their current position for over 3 years. Analysis of the external environment Opportunities Political stability Ã¢â¬â Firms operating in the UAE soft drink and beverage industry are experiencing a supportive business environment due to the eff ective legal system in the country. The country is characterised by a relatively low level of political instability. Consequently, firms such as DRC can expand their operations in different parts of the UAE by establishing retail outlets. Health conscious characteristics of consumers Ã¢â¬â Consumers are increasingly becoming health conscious in their consumption process, which presents an opportunity for DRC to produce and market high quality and healthy beverage products. The UAE is experiencing an increment in demand for organic food and soft drink products. By investing in the production of such soft drinks, DRC will be in a position to attract health conscious consumers. Threats Regulations Ã¢â¬â The firm might experience a challenge in maximising its sales revenue if the UAE government institutes price controls on basic food and beverage products. The UAE government has adopted a fixed exchange rate regime by pegging its currency on the US dollar (International Business Publications, 2012). Consequently, the country does not have sufficient control over its monetary policy. For example, the country may not be in a position to cope with inflationary pressures that might occur, which presents a major challenge to the firmÃ¢â¬â¢s competitiveness. PESTLE analysis Politico-legal Ã¢â¬â The UAE has formulated broad intellectual property rights rules and regulations such as patents, copyrights, and trademark laws. These laws have led to the creation of an environment suitable for research and development. The country has adopted an effective governance structure, hence enhancing its relationship with other economies. Economic Ã¢â¬â the UAE has a relatively high Gross Domestic Product compared to other countries in the Gulf region. Thus, the consumersÃ¢â¬â¢ purchasing power is relatively high. Social-cultural analysis Ã¢â¬â the UAE has experienced a rampant social transformation with regard to consumption of soft drinks. This change has ari sen from the high temperatures that characterise the country. Consequently, consumers prefer taking soft drinks in order to quench their thirst. Technological analysis Ã¢â¬â the high rate of investment in research and development has led to the emergence of different technologies. Some of these technologies relate to e-commerce and social networks. Moreover, consumers have appreciated the emerging technologies in their purchasing process. In a bid to remain competitive, businesses are forced to integrate the emerging technologies in their operation. Environmental analysis Ã¢â¬â The UAE government is conscious of the environmental issues. Consequently, businesses are required to operate in an environmentally responsible manner in order to minimise the occurrence of climate change. The above forces differ from one country to another as every country is characterised by different conditions and situations. Reference List Dubai Refreshments. (2013). Company Overview. Retrieved f rom http://pepsidrc.com/who-we-are/ Goold, M., Campell, A., Alexander, M. (1994). Corporate-Level Strategy: CreatingÃ Value in the Multibusiness Company. Hoboken, NJ: Wiley. International Business Publications. (2012). Dubai Company Laws and RegulationsÃ Handbook. Washington, DC: International Business Publications, 2012. Nair, M. (2004). Dubai Refreshments posts Dh22.9m profit. Web. Zawya. (2010). Dubai Refreshments Company to build AED 400 million soft drinksÃ factory at Dubai Investments Park. Retrieved from https://www.zawya.com/mena/en/ This research paper on Dubai Refreshments Company was written and submitted by user Libby Pennington to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.