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

Interpersonal Communication - Research Paper Example The communication process differs from person to person. Each person, group or organization has a different approach and technique of communicating ideas, views and messages. The communication process in use depends on the availability of resources, skills and understanding of the members. This paper aims to analyze the fundamental elements of communication, the effect of self-concept, perceptions, listening habits, language differences and non-verbal elements on communication. Furthermore this paper ends up creating a discussion on personal methods to resolve the communication barriers and strategies to promote healthy interpersonal communication and relationships. II. Main Points A. Elements of Communication Process and their Importance 1. A brief intro to the elements and their relevant importance in the communication process 2. Factors affecting Communication Process B. Role of Self-Concept and Perception in Communication 1. Self-Concept and Perception with definition 2. The posi tive and negative impacts on communication C. Non-Verbal elements 1. The effects of non-verbal elements on Communication 2. The evaluation of environment, noise and other distractions on Communication D. Language Differences & Listening Skills 1. The effects of language differences and listening skills on communication patterns 2. Impacts of these elements on communication effectiveness E. Resolving Communication Barriers 1. Personal Methods to resolve barriers 2. Strategies to promote Healthy interpersonal communication III. Summary 1. The main points covered in the paper and the strategies proposed IV. Conclusion 1. An insight on the effects of factors which influence the communication barriers 2. A list of recommendations to avoid those barriers 3. Strategies to adopt in order to promote effective interpersonal communication Student Name Ramona L. Mata CA104 Interpersonal Communication 20 July 2007 Interpersonal Communication Report Introduction Communication is the tool to trans fer and share thoughts, ideas and views. It helps in expressing the emotions, sentiments and feelings of a person. There are many factors that affect the communication process between people and groups. These factors involve the attentiveness of people, cultural diversity among them, age differences, gender distribution, personal skills including listening and comprehension skills, personal feelings and point of views etc. The communication process differs from person to person. Each person, group or organization has a different approach and technique of communicating ideas, views and messages. The communication process in use depends on the availability of resources, skills and understanding of the members. This paper aims to analyze the fundamental elements of communication, the effect of self-concept, perceptions, listening habits, language differences and non-verbal elements on communication. Furthermore this paper ends up creating a discussion on personal methods to resolve the communication barriers and strategies to promote healthy interpersonal communication and relationships. Elements and Factors Affecting Communication Process Communication is an important part of our daily life. All dealings of our life varying from the smaller ones to the larger ones involve different aspects of communication pro

Impact of the Islamic Invasion on Spain

Impact of the Islamic Invasion on Spain The history of Spain reflects the effect of certain cultures and religions on Spanish population, language, traditions and style of life. In the Middle Ages (about 411 AD) Spain was occupied by the German tribes and further the country was conquered by the Visigoths (416 AD) (Collins, 1995). However, the aim of this essay is to analyse the impact of the Islamic invasion on Spain, as the Muslims has had a considerable effect on the country up to the present day. In 711-714 the Umayyad dynasty seized the Spanish area near Cordoba (Rahman, 1989); forty years later Abd al-Rahman I created an Umayyad Emirate. But it was in the tenth century under the ruling of Abd al-Rahman III (912-961) that the Muslims managed to intensify Spains prosperity and wealth (Goodwin, 1990). Abdal-Rahman III united some areas of al-Andalus and improved military, tax and law systems. In the eleventh century the Emirate was divided into several kingdoms with unique cultures and traditions. After the decay of the Umayyad dynasty, other Islamic dynasties took control over Spain, such as the Almoravides, the Almohades and the Nasrids (Taha, 1989). At the end of the fifteenth century the Christian rulers seized the power in Granada and put an end to the Muslim ruling. Other Spanish places, such as Seville and Cordoba, were liberated from the Muslims by Ferdinand of Aragon and Isabella of Castile in the thirteenth century. But the Islamic influence has preserved in Spain till nowadays, though Isabella made everything to destroy Islam and eradicate any traces of the Muslims. The Islamic invasion positively affected many areas of life in Spain, such as culture, education, religion, economics, science, society and family. Al-Andalus, as the Muslims called Spain, had acquired the central position among other civilizations of the ancient world since the conquest of Cordoba by the Umayyad dynasty (Chejne, 1974). In particular, the Muslims created about two thousand public baths and mosques for different social groups and implemented some schools for poor children in Cordoba. Although some Spanish regions opposed the Muslim ruling, industry and trade were considerably advanced by the Umayyads (Harvey, 1990). Spanish libraries contained more than 400,000 books and the streets of Cordoba were illuminated, unlike such European capitals as Paris and London. As Hillenbrand (1999) puts it, Cordobain its prime had no peer in Europe for the amenities of civilized life. Its houses were bountifully supplied with hot and cold running water, its streets were lit at night (p.175). Different religious groups, such as Christians, Muslims and Jews, successfully interacted with each other. According to Ghazanfar (2004), there existed no separation between science, wisdom, and faith; nor was East separated from the West, nor the Muslim from the Jew or the Christian (p.2). Such religious tolerance can be explained by the fact that the Muslims did not act as oppressors, but, instead, they tried to improve the living conditions of all social classes in Spain. As a result, Christians and Jews occupied the leading positions during the Muslim ruling (Hopfe, 1998). This peaceful co-existence of three religions had continued till the fifteenth century (Thomson, 1989), contributing to many aspects of life in Spain. For instance, in the eleventh century Arabic language was utilised in Spanish science and literature, while Spaniards began to learn the Muslims language to acquaint with Arabic writings (Shubert, 1992). Some Christians and Jews borrowed Arabic culture and religion, gradually transforming into Mozarabs, people who were Arabized (Watt, 1965). Many illiterate Spanish people learned to read and write, calculate and navigate (Houston, 1964). As the Muslims preserved some Roman and Greek literary works, Spanish Christians served as translators for these crucial manuscripts. Architecture, philosophy, mathematics and other sciences also prospered under the ruling of the Umayyad dynasty due to their belief in Allah and the laws of the Quran, the holy book of the Muslims that accentuated the power of knowledge (Fakhry, 1983). As the Muslims made attempts to understand God, they also tried to uncover the truth about human nature by conducting different researches and scientific investigations (Saud, 1994). For instance, the Muslims substituted the Roman number system existed in Spain for the Arabic number system that has been widely utilised in algebra, arithmetic and business since then. In addition, astronomy, medicine, biology and chemistry began to thrive in Spain after the Islamic invasion (Lewis, 1993). Among the most famous Spanish philosophers, writers, artists and scientists of the Muslim era are Al-Kwarizmi, Ibn Rushd, Ibn Zuhr, Al-Razi and Ibn Sina (Chejne, 1974). Ibn Sinas medical treatise Al-Qanun had been studied in many European educational establishments for about three hundred years and had been regarded as one of the best medical works (Vernet, 1992). One of the greatest Muslim scholars of Spain was Abu Zakariyah al-Awwam Ishibili who created a procedure of grafting and gave names to more than five hundred plants (Ghazanfar, 2004). Pedro Alfonzo, a Spanish Muslim scholar who was interested in astronomy, claimed that his wish was to raise once more to life the knowledge of that science which is in such a deplorable state among those educated in the Latin manner (Hermes, 1977, p.72). Due to such an advanced stage of scientific development, many European scientists arrived to Spain to receive knowledge in various sciences and to interpret Latin texts. In regard to economics, the Muslims created the silk industry in Al-Andalus, gradually transforming Spain into one of the largest countries for silk production. The country was also engaged in the production of satin, cotton, pepper, furs, clocks, paper, maps and soaps. Further Spain contributed to the fine fabrics manufacturing in Europe. Agriculture was poorly developed in Spain becau se of a primordial irrigation system (White, 1970; Semple, 1971); but the Muslims substituted this old system for a new improved irrigation method that resulted in the prosperity of orchards and the increase of rice crops in such areas as Granada and the Valenican huerta (Dickie, 1968). The Muslims utilised the method of Syrianization to improve agriculture of Spanish towns, especially Valencia and Seville (Burns, 1973). The new system allowed Spaniards to intensify crops with the help of artificial water supply (Smith, 1966, p.442). Up to the present day this irrigation system has been controlled by an old Muslim tribunal (Tribunal of the Waters); today this Tribunal is held once a week and is aimed at solving disputable agricultural issues. Due to these improvements, Spanish people began to cultivate various plants and trees, such as oranges, lemons, artichokes, apricots, olive and implemented an advanced system of nature protection (Imamuddin, 1965, p.84). Before the Islamic invasion, Spanish grew winter crops, but the Muslims managed to implement Indian crops that were grown in a frost-free season. As a result, many Arabic words were introduced in Spanish language to reflect different aspects of the irrigation system; for instance, alberca-al-birka means a pool and acequia-al-saqiya means an irrigation ditch. Nowadays some flowers bear the Arabic names, such asbellota-balluta for acorn, alazor-al-asfur for safflower and al-fasfasa foralfalfa. Other words reflect the impact of the Muslims on farming: tahona-tahuna (flour-mill), aldea-al-days (village), and rabadan-rabb al-dan (head-shepherd). As the Muslims were obsessed with nature, they utilised their artistic skills to create splendid gardens and buildings that have attracted attention of people till nowadays (Blair Bloom, 1994). Such unusual places as the Alhambra of Granda, the Mosque of Cordoba and the Alcazar of Seville are the visual legacy of the Muslims in Spain (Barrucand Bednorz,1992; Ettinghausen Grabar, 1987). These splendid architectural buildings clearly reveal the Muslims innovations in the fields of architectural design and style(King, 1978; Grabar, 1978; Rodriguez, 1992). Unfortunately, almost all Islamic architectural monuments were destroyed at the end of the fifteenth century; only the Alhambra remained undamaged (Fletcher, 1987). Many famous writers and artists depicted the Alhambra in their works (Ching, 1979). For instance, Washington Irving created  Tales of the Alhambra  when he visited this place in Spain. Despite the destruction of many Islamic buildings (Barrucand Bednorz, 1992), a new Islamic mosque for Spanish Muslims hasbeen recently built in Granada as a result of Islam renewal in 1989. The Muslims are able to pray in the mosque and receive education in such sciences as medicine and law. Today the number of the Muslims in Spain approaches to onemillion people who strongly defend their rights and their faith. Some Spanish Muslims continue to live in the Albaican quarter in Granada, where the Muslims lived in the 10-15 centuries. However, the tensions between Spanish Muslims and Spanish Christians are rather complicated, although Spa nish government realises that it is crucial to improve the relations between these two religious groups. Analysing the impact of the Islamic invasion on the history of Spain, the essay suggests that the Muslims considerably affected such areas of Spanish life as economics, culture, science, architecture, art and religion. They managed to improve the countrys agriculture and manufacturing, contributing to its prosperity and wealth; they implemented many advanced systems based on scientific findings, especially Arabic number system of calculation, the illumination system and the irrigation method. The Muslims transferred their knowledge in medicine, algebra, chemistry, astronomy, architecture, art, nature and technology to Spanish people who further imparted these valuable data to other European countries. Thus, the Islamic invasion on Spain paved the way for the period of Renaissance in Europe; as Ghazanfar (2004) puts it, Muslims not only occupied Spain but planted the roots of European Renaissance through unparalleled transfer of knowledge in almost every field known (p.11). Today the Islamic influence is especially obvious in many Spanish words that reflect the Arabic roots, as well as in architectural monuments, literature, sciences, legal laws and cultural traditions. Although Islam was officially renewed in Spain at the end of the twentieth century, the Muslims continue to experience serious racial prejudices from the side of Spanish Christians.

The narrative epic, ‘The Odyssey’ composed by Homer between 750 and 650 :: Classics

The narrative epic, ‘The Odyssey’ composed by Homer between 750 and 650 BC recounts the nostos or homeward voyage of Odysseus If I were you, I should take steps to make these men disperse. Listen, now, and attend to what I say: at daybreak call the islanders to assembly, and speak your will, and call the gods to witness: the suitors must go scattering to their homes. Then here’s a course for you, if you agree: get a sound craft afloat with twenty oars and go abroad for news of your lost father— perhaps a traveller’s tale, or rumored fame issued from Zeus abroad in the world of men. Talk to that noble sage at Pylos, Nestor, then go to Menelà ¡los, the red-haired king 330 at Sparta, last man home of all the Akhaians. If you should learn your father is alive and coming home, you could hold out a year. Or if you learn that he is dead and gone, then you can come back to your own dear country and raise a mound for him, and burn his gear, with all the funeral honors due the man, and give your mother to another husband. When you have done all this, or seen it done, it will be time to ponder concerning these contenders in your house— how you should kill them, outright or by guile. You need not bear this insolence of theirs, you are a child no longer. Have you heard what glory young Orestà ªs won when he cut down that two-faced man, Aigà ­sthos, for killing his illustrious father? Dear friend, you are tall and well set-up, I see; be brave—you, too—and men in times to come will speak of you respectfully. Now I must join my ship; my crew will grumble if I keep them waiting. Look to yourself; remember what I told you.† Telemachus replied: â€Å"Friend, you have done me kindness, like a father to his son, and I shall not forget your counsel ever. You must get back to sea, I know, but come take a hot bath, and rest; accept a gift to make you heart lift up when you embark— 360 some precious thing, and beautiful, from me, a keepsake, such as dear friends give their friends.† Written Commentary: The Odyssey The narrative epic, ‘The Odyssey’ composed by Homer between 750 and 650 BC recounts the nostos or homeward voyage of Odysseus, a renowned Greek warrior hero. This extract from the ‘The Odyssey’ is taken from the Telemachy narrative section of the epic; the Telemachy contains the exposition of the great epic which opens on the island of Ithaca. These opening passages of the epic elucidates Odysseus’s circumstances as the Gods contemplate his fate; though eccentrically the focal point

Working Capital Analysis

CHAPTER-I INTRODUCTION 1. 1 Back ground of Study Working Capital refers to that part of the firm’s capital, which is required for financing short-term or current assets such a cash marketable securities, debtors and inventories. Funds thus, invested in current assets keep revolving fast and are constantly converted into cash and this cash flow out again in exchange for other current assets. Working Capital is also known as revolving or circulating capital or short-term capital. Therefore, working capital management is the same of liquidity management and its relate inversely with profitability.It is significance for any industries due to the investment in Current Assets (CA) must be adequate because inadequate or excessive inadequate working capital can disturb production and can also threaten the solvency of firm, if it fails to meet its current obligation excessive investment in CA should be avoided, since it impairs firm's profitability Secondly, need for working capital ar ises due to increasing level of business activity ; it is to provided quickly some time surplus fund may arises which should be invested in Short term securities , they should not be kept idle.The importance of Working capital management compelled to the firms to try the optimal level of investment in each element such as inventories, cash, account receivables but the firm also consider to way of financing the current assets. This means, consideration of current liabilities which include account payables, notes payable, interest payable and other shot-term debt.In addition, the firm can adopt an aggressive working capital management policy with a low level of current assets as a percentage of total assets, or it may also be used for the financing decisions of the firm in the form of high level of current liabilities as a percentage of total liabilities(Nazir and Afza,2009), and it is the opposite in conservative working capital management policy. On the other hand, it should be dist inguished between three policies that related directly with the working capital efficiency.First policy is collection policy, that measured by average receivables collection period (ARCP) which is meaning the average length of time required to convert the firm receivables into cash. Second policy is inventory policy, which expressed by average conversion inventory period (ACI). It means the average length of time required to convert raw materials into finished goods and then sell these goods.Third policy of working capital efficiency is payment policy, which measured by average payment period (APP) that means the length time between the purchase of materials and the payment of cash (Weston and Brigham,1993). These policies require from company to accelerate the collections of receivables, accelerate its inventory, accelerate the payment cycle, and reduce the cost of the working capital needs.Above mentioned policies can be merged them in one general policy, is called cash conversion cycle (CCC) developed by Richards and Laughlin(1980) which focuses on the length of time between when the firm makes payments and when it receives cash inflow. To fulfill the one of the most important goal of organization to maximization of share holder’s wealth of a firm is possible only when there is sufficient return from the operations and successful sales activity is necessary for earning profit sales without convert into cash immediately.To generate the sales and revenue activities there will be the s invisible time lap between the sale of good and receipt of cash. Hence, the time taken to convert raw material into cash is known as operating cycle that includes following activities in different phase. At first phase: * Conversion of cash into raw material * Conversion of raw material into work in progress * Conversion of Work in progress into finished goods * Conversion of finished goods into Sales ( Debtors and cash) At second Phase: Cash received and at third phase i s payment of credit.A low cash conversion cycle allows the managers to minimize holdings of relative unproductive assets such as cash and marketable securities, preserves the firm’s debt capacity since less short-term borrowing is required to provide liquidity and corresponds to a higher present value of net cash flows from firms assets Moreover, the cash conversion cycle is an important technique of analysis for the financial mangers of firm to assess why and when the firm needs more cash to sustain its activities. I am going to comparative study of Surya Nepal Private Limited (SNPL) is an Indo-Nepal-UK joint enture, which started operations in Nepal in 1986. SNPL, a subsidiary of ITC Ltd, India, is the largest private sector enterprise in Nepal. The balance shares are held by dispersed Nepalese shareholders and British American Tobacco, UK. Surya Nepal's businesses include manufacture and marketing of cigarettes and readymade garments in Nepal as well as exports of ready-ma de garments with a total turnover of over US $100 million. Secondly, The guiding force behind Dabur's growth and success has been the wealth of nature and its limitless capacity to support life.And we have constantly taken care to preserve and protect this natural bounty. With this overall vision of and to eco-sustenance, expand Dabur's resource and production base, Dabur Nepal Private Limited was set up as an independent Group company in 1992. This new company, set amidst the verdant greens and towering mountains of the Himalayan kingdom of Nepal, has established a unique bond of technology and preservation. 1. 2 Problem of Statement The management of a company's working capital significantly influences its profitability. In the short term, companies risk being short on liquidity if the working capital level deteriorates.In the long term, too much working capital lowers the return on investment and reduces the value of the company. In contrast, a reduction of the working capital ca n significantly improve cash flows and free up capital from a company's balance sheet. This capital can then be used to reduce debts, pay dividends to investors or reinvest in company growth. In the context of Nepal there is not practically implementation of working capital management technique that can brings the liquidity problem in short term and solvency problem in long term due to loss on business.This can be the one most important reason for the lower growth rate of manufacturing firm. I want to gain insight into this field and to identify potential areas for optimization of working capital management for the profitability on the Nepalese manufacturing firm. Performance of firm on the topic of working capital management is very essential to reach the optimum level of working capital then to enhance their profitability. But these elements can be affected by Nature of business, seasonality of operations, production policy, market condition, and political scenario.Therefore, I ha ve done this investigation to know the answer of following question. a. What are the factors of working capital for Nepalese manufacturing firm? b. How can working capital affects the performance to enhance profitability of firms? c. How is the performance of firm to achieve the optimal working capital in order to maximize the profitability? 1. 3 Objective of the Study The main objective of the research is to measure the impact of working capital management on the profitability for Nepalese manufacturing firm. The specific objectives of the study are summarizing as following. a.To analyze the relationship between working capital management and profitability for manufacturing firm. b. To determine the relationship between size of firm and the profitability c. To Know the relationship between leverage and profitability. 1. 4 Limitation of the Study This study is intended to measure the impact of working capital management on profitability of Nepalese manufacturing firm but the study a lso influences from the following limitation. a. There isn't financial sponsor for the depth study. b. Due to the time constraints it is not possible to analyze the each variable in details. c.In depth analysis and the study of financial position is not feasible because of the policy and privacy of firm. d. The information is assuming true that is taken from different source. CHAPTER-II LITERATURE REVIEW 2. 1 Literature Review According to Wilner (2000) most firms extensively use trade credit despite its apparent greater cost, and trade credit interest rates commonly exceed 18 percent and Deloof (2003) also found that according to National Bank statistics during 1997, Belgian companies had accounts payable of only 13% of the total asset and accounts receivable and Inventory of 17% and 10% of the total asset respectively.Singh and Pandey (2008) discussed the impact of working capital management in the profitability of Hindalco Industries Limited. Regression results showed that curren t ratio, liquid ratio, receivable turnover ratio and working capital to total assets had statically significant impact on profitability. Dong and Su (2010) examined the relationship between profitability, the cash onversion cycle and its component for listed firms in Vietnam stock market for period (2006-2008). They resulted that there is strong negative relationship between cash conversion cycle and the profitability.Cote and Latham (1999, p. 261) argued that management of receivables, inventory and accounts payable have tremendous impact on cash flows, which in turn affect the profitability of firms. According to Long, Malitz and Ravid (1993) it is seen that liberal credit terms to the customers increase the sales level of the firm, though having a continuous troubleshooting with managing short term financing in the finance department. The decision lays with the firm which one to put more importance on. Scherr (1989, p. 6) claimed that companies can strengthen strong cash flow lev els, improve profitability, budgeting and forecasting process, predictability and manageability of results, heighten risk if they implement the best practices in working capital. Amit, Sur and Rakshit (2005) studied the relationship between working capital and profitability in the context of Indian pharmaceutical industries and concluded that no definite relationship can be established between profitability and liquidity. Cote and Latham (1999, p. 61) argued that management of receivables, inventory and accounts payable have tremendous impact on cash flows, which in turn affect the profitability of firms. Scherr (1989, p. 16) claimed that companies can strengthen strong cash flow levels, improve profitability, budgeting and forecasting process, predictability and manageability of results, heighten risk if they implement the best practices in working capital. Eljelly(2004) identified the relation between profitability and liquidity who was examined, as measured by current ratio and c ash gap (cash conversion cycle) on a sample of joint stock firms in Saudi Arabia.The study found that the cash conversion cycle was of more importance as a measure of liquidity than the current ratio that affects profitability. The size variable was found to have significant effect on profitability at the industry level. The results were stable and had important implications for liquidity management in various Saudi firms. First, it was clear that there was a negative relationship between profitability and liquidity indicators such as current ratio and cash gap in the Saudi sample examined. Second, the study also revealed that there was great variation among industries with respect to the significant measure of liquidity.Sur Biswas and Ganguly (2001) revealed in their study of Indian aluminium producing industry, a very significant positive association between liquidity and profitability. All previous studies had reached to the same results approximately, which had proved there is t he negative relationship between the working capital, debt ratio, current ratio and profitability, and the positive relationship between size of the firm with profitability. This study tries to depend on previous studies to provide new evidence on how working capital can effect on the profitability. . 2 Research Frame Work Model ROA Leverage Performance Working Capital Efficiency Profitability of the Firm Size of Firm Current Liabilities Current Assets Organization Planning Growth of business Ln of Sales Debt ratio Liquidity ratio: CR All the components such as Working Capital, Profitability and Size of the firms, Liquidity, and Leverage performance are interrelated to each other. The working capital affects the profitability of the firm. Similarly size, leverage, and liquidity affect the working capital requirement and profitability of the firm.If there is low in current assets then it can’t pay the short term obligation and if firms keep in high ratio then investment opport unity will lose that decreases the value of profitability elements such as ROE and ROA. Secondly, if there is high concentration on sales by keeping low liquid assets then profit can increase and it helps to increase the growth rate of company and fulfill the objective of shareholder’s wealth maximization and ease for the competition but low liquid assets can creates the risk of liquidity. Therefore, all components of above mentioned are interrelated positively and negatively.After analyzing the financial ratio BOD, manager can formulate the policy for sustainable business as well as investors will take best decision for the investment. This study has been guided according to the above variables and discussed the variables relation after studied of two firms in detail in the below. Hence, this study will benefit for the best decision of working capital requirement to manage the profitability, leverage in long term and to growth the firm in stable rate. CHAPTER-III DATA COLLEC TION AND METHODOLOGY 3. 1 Research Data CollectionThe data has taken from the secondary source regarding to the official site of Surya Nepal Pvt. Ltd and Dabur Nepal Pvt Ltd. Secondary data is assumed as an enough and reliable. Sample of this study has been focused on the joint venture Nepalese manufacturing firms. These two firms have chosen as a sample company due to big market in Nepal. To fulfill the objective of research, report is prepared by taking a financial data of two sample companies from 2006 to 2011. 3. 2 Definition of variable I have used of dependent and independent variables to complete the study are as below.Dependent variables include profitability measure which will be computed by the following equation: Return on Assets (ROA)=Net Operating IncomeTotal Assets Secondly, independent variables have been divided in two parts. First part includes working capital management variables. †¢ Average receivable collections period (ARCP) are used to express the credit p olicy. It is calculated by using following equation: Average receivable collections period (ARCP)=Account Receivables *365/Sales †¢ Average conversion inventory period (ACIP), which is expressed the inventory policy.It will be identified by following formula: Average conversion inventory period (ACIP)= Inventory *365/Cost of Sales †¢ Average payment period (APP) is used to reflect the payment policy it is measured measured by following equation: Average payment period (APP) =Accounts Payables *365/Cost of Sales †¢ Cash conversion cycle (CCC) is used to express the overall impact on working capital efficiency, and that is calculated by using following equation. Cash Conversion Cycle (CCC)=ARCP+ACIP-APP At the second phase of independent variables has been included as below. †¢ Size of the company = Natural of logarithm of sales (LNS). Current ratio (CR) = Current assets/Current Liabilities. †¢ Financial leverage ratio (FL) = Total Liabilities / Total Assets. 3. 3 Empirical Analysis This section contains the descriptive analysis by taking the help of mean, standard deviation, maximum and minimum value of all variables that is used in study. Similary, on the second phase of analysis here has been explained the relationship between the variables by using correlation coefficient. Moreover, regression model has been used to quantify the relation between variable and to measure the accuracy of this report.Multiple regression models have used to complete the regression analysis. All types of analysis and graphical representation will be expressed by using the MS office package 2007. For this study I have used 4 regression models to quantify the relation and model is as below. 1. ROA= a+b1ARCP+b2CR+b3FL+b4LNS (model -1) 2. ROA= a+b1ACIP+b2CR+b3FL+b4LNS (model-2) 3. ROA= a+b1APP+b2CR+b3FL+b4LNS (model-3) 4. ROA= a+b1CCC+b2CR+b3FL+b4LNS (model-3) CHAPTER-IV DATA ANALYSIS AND PRESENTATION 5. 1. Empirical Analysis and Findings 4. 1. 1Descriptive An alysis: Dabur Nepal Pvt. Ltd (Table 1) | ROA| ARCP| ACIP| APP| CCC| CR| FL| Lns|   |   |   |   |   |   |   |   | Mean| 0. 034| 35. 67| 75. 12| 42. 35| 68. 44| 2. 00| 0. 248| 21. 73| Standard Deviation| 0. 028| 19. 74| 31. 74| 35. 27| 39. 24| 0. 676| 0. 055| 0. 346| Minimum| 0. 001| 4. 13| 17. 37| 8. 33| 6. 30| 1. 52| 0. 207| 21. 39| Maximum| 0. 084| 55. 23| 111. 78| 93. 46| 120. 94| 3. 19| 0. 351| 22. 38| Count| 6| 6| 6| 6| 6| 6| 6| 6| According to the above table, ROA on average is 34% and ROA existed between 0. 1 % to 0. 84%. The average receivables collection period has 5 days (approximately) as minimum to collect its receivables from the purchasers but it takes 55. 23 days as maximum to collect its receivable.The average days of generating its sales on account about 35. 67 days. In addition, the average conversion inventory period (ACIP) takes about 17. 37 days to sell all its inventory as minimum and takes 111. 78 days as maximum. The mean days to sell the inven tories are 75. 12 days with standard deviation of 31. 74 days. About the APP, the firm has a minimum time 8. 33 days to pay its purchases on account and 93. 46 days as a maximum time. It takes an average 42. 35 days to pay its purchase with standard deviation of 35. 27. The cash conversion cycle (CCC) has 6. 30 days as a minimum time and maximum is 120. 94 days.The minimum current ratio (CR ) of the firm is 1. 52 and maximum is 3. 19 with the standard deviation of 0. 55%. The Natural Logarithm of size (LNS) shows minimum sales is 21. 39 and maximum is 22. 38 with the average of 21. 73. About the financial leverage is 20% as minimum and maximum is 35% with the standard deviation of 0. 55%. Surya Nepal PVT. LTD (Table 2) | ROA| ARCP| ACIP| APP| CCC| CR| FL| LNS| |   |   |   |   |   |   |   |   | Mean| 0. 287| 5. 11| 191. 55| 63. 45| 133. 21| 1. 72| 0. 424| 22. 82| Standard Deviation| 0. 086| 2. 90| 21. 84| 5. 88| 19. 96| 0. 678| 0. 152| 0. 339| Minimum| 0. 178| 2. 54| 170. 51| 57. 0| 110. 72| 1. 06| 0. 255| 22. 42| Maximum| 0. 389| 9. 86| 232. 04| 73. 16| 167. 62| 2. 44| 0. 594| 23. 31| Count| 6| 6| 6| 6| 6| 6| 6| 6| an average return on assets(ROA) is just 28% which is lower than Dabur Nepal Ltd. But the minimum and maximum value of ROA exists between 17 % to 38 % and less variability comparison with Dabur Nepal Ltd. The Average receivable collection period (ARCP) is 5. 11 days approximately and lower than Dabur. Thus, collection capacity of dabur is very strong. similarly, ACIP of Surya Nepal exist between 170. 51 days to 232. 04 days. About the average CCC of Surya Nepal is 133. 1 days which is higher than Dabur Nepal. Therefore, we can say that, cash inflow days in the Dabur Company are quicker than Surya Nepal. Moreover, an average 42% portion is existed under the total assets of the Surya firm that is higher than Dabur Company. It means, Surya Nepal takes more loans for the business. About the average size of Surya Nepal is 22. 82 that is h igher than Dabur. Graph: 1 source Table 1 and 2 Let summarize the above result: a. ROA of Surya Nepal is higher that tends to the meaning of; profitability volume is good rather than Dabur Nepal Pvt. Ltd. b. Credit collection capacity is stronger of Surya Nepal Pvt.Ltd. c. Surya Nepal Ltd. takes more time to convert the goods in raw material. d. Surya Nepal pays to supplier at delay comparison with Dabur. e. CCC of Surya is higher due to higher in ACIP and APP. 4. 1. 2. Correlation Coefficient Analysis Dabur Nepal Ltd. (Table 3) | ROA| ARCP| ACIP| APP| CCC| CR| FL| Lns| ROA| 1|   |   |   |   |   |   |   | ARCP| -0. 903| 1|   |   |   |   |   |   | ACIP| -0. 666| 0. 537| 1|   |   |   |   |   | APP| -0. 074| 0. 141| 0. 705| 1|   |   |   |   | CCC| -0. 927| 0. 811| 0. 446| -0. 258| 1|   |   |   | CR| 0. 835| -0. 627| -0. 888| -0. 450| -0. 6291| 1|   |   | FL| -0. 095| 0. 285| -0. 007| -0. 152| 0. 2743| 0. 48| 1|   | Lns| 0. 144| -0 . 172| 0. 348| 0. 609| -0. 352| -0. 203| -0. 572| 1| Surya Nepal Pvt. Ltd (Table 4) | ROA| ARCP| ACIP| APP| CCC| CR| FL| LNS| ROA| 1|   |   |   |   |   |   |   | ARCP| -0. 420| 1|   |   |   |   |   |   | ACIP| 0. 393| -0. 174| 1|   |   |   |   |   | APP| -0. 359| -0. 402| 0. 441| 1|   |   |   |   | CCC| -0. 263| 0. 073| 0. 939| 0. 130| 1|   |   |   | CR| -0. 892| 0. 493| -0. 443| -0. 736| -0. 196| 1|   |   | FL| -0. 869| -0. 457| 0. 541| 0. 769| 0. 299| -0. 992| 1|   | LNS| 0. 958| -0. 437| 0. 569| 0. 464| 0. 423| -0. 893| 0. 902| 1| According to the Table 3 and 4, Return on Assets (ROA) has negative relationship with ARCP.It tends to the meaning of longer the time of collection days reduces the profitability of firm. Therefore, if a firm reduces the length between sales and collection, it will increase the profitability through reinvest collections in profitable investments. Correlation results related negatively between the a verage conversion conversion inventories (ACIP) and ROA significantly in the case of Dabur. It means when the firm reduces the length time required converting raw material in to finished goods and then to sell those goods that lead to enhance profit.But in the case of Surya Nepal, there is positive relationship between ARCP and ROA. It means, it should take more stock for the high profit. The average Payment Period (APP) has negatively correlation with Profitability. It means, if the both firm shorten the length time between purchases goods and payment of the value of goods, it will lead to increase profitability. There are negative relationship between cash conversion cycle (CCC) and ROA. If the firms shorten its conversion cycle as much as possible without hurting its operation, it will reflect positively on profitability.Correlation coefficient of the size (LNS) firm is positive relationship with profitability that indicates if the firm increases its size of sales; it will lead t o increase its profitability. Current ratio refers to liquidity of the firm which relates positively correlated with ROA in case of Dabur but negatively correlated with ROA in case of Surya Nepal. Generally, if the firm invests its liquidity very well, it will generate high return and as per situation there might be required or not for holding of stocks in long term. About the Financial leverage that is negatively correlated with profitability.It means, if the firm depends on the financial leverage as much as need, ti carry itself financial obligation such as interest payment and principal payment and then it reflects negatively on its profitability. Dabur Nepal Pvt. Ltd. (Table 5) Year| 2006| 2007| 2008| 2009| 2010| 2011| ROA| 0. 031| 0. 030| 0. 022| 0. 001| 0. 084| 0. 038| CCC| 85. 74| 86. 30| 63. 87| 120. 93| 6. 29| 47. 46| Source Table 5. Graph 2 Conclusion: According to the above finding, the increasing in the value of CCC that decreases the value of ROA. And it is proved that there is negative relationship between ROA and CCC.Surya Nepal Pvt. Ltd Graph 3. Conclusion: In the case of Surya Nepal Pvt. Ltd, there is positive relationship between ROA anc CCC. This means to increase the profit of Surya firm then they have to increase the value of working capital component. 4. 1. 3Regression Analysis: Dabur Nepal Pvt. Ltd Table 6 Independent Variables| Model-1| Model-2| Model-3| Model-4| ARCP| -0. 001|   |   |   | ACIP|   | -0. 020|   |   | APP|   |   | -0. 0003|   | CCC|   |   |   | -0. 0004| CR| 0. 020| 0. 115| 0. 045| 0. 017| FL| -0. 021| -0. 577| -0. 178| -0. 015| Lns| 0. 014| 0. 053| 0. 008| 0. 002| Adjusted R^2| 0. 780| 0. 7| 0. 517| 0. 815| F-test| 0. 010*| 0. 01*| 0. 0051*| 0. 077**| Surya Nepal Pvt. Ltd Table 7 Independent Variables| Model-1| Model-2| Model-3| Model-4| ARCP| -0. 003|   |   |   | ACIP|   | 0. 907|   |   | APP|   |   | -0. 008|   | CCC|   |   |   | 0. 953| CR| 0. 275| 0. 360| 0. 221| 0. 275 | FL| -1. 188| -1. 599| -0. 055| -1. 188| Lns| 0. 245| 0. 224| 0. 069| 0. 245| Adjusted R^2| 0. 770| 0. 67| 0. 71| 0. 79| F-test| 0. 0876**| 0. 0035*| 0. 012*| 0. 0144*| In the above table, F-test has been done at 5%=* and 10% =**significance of level. Table 6 and 7 presents the regression result of two firms of 4 models.According to the table 6 and 7, ARCP and ROA have negatively correlated. For the both Company if there is 1% increase in the days of collection period than less than 1% will decrease on the value of profitability. Similarly, for the both firm, liquidity ratio and size of firm is positively correlated. It means, increases in the sales that will increase the profit volume. Positive value of CR and LNS but negative value of financial leverage (FL) is accepted by all models. This means, if loan amount is increased by 1% then profit will decreased by 0. 21% in case of Dabur but more than 11% in case of Surya Nepal.All the, result revealed that, to increase the profit, fi rm should decrease the loan amount. According to the Model 4 from table 6, there is negative relationship between ROA and cash conversion cycle. This means, to increase the profit, Dabur should reduce the CCC. It is also supported by the theory of higher the working capital leads to the lower of profitability. On the other hand, model 4 from table 7 reveals that there is positive relationship between ROA and CCC. This result is beyond the theory and if Surya Nepal wants to increase its profit then it should increase the Working capital.It may the cause of poor situation of Nepalese economy, nature of business as well as less concentration on environment management that is leading to keep higher amount of stock. According to table 6, model 1 , 2 ,3 and 4 explained the dependent variable by independent in the portion of 78% , 77% , 51%, and 81 % respectively and remaining portion is due to other element. But in the table 7, dependent variable (ROA) is explained by independent in the f orm of 77%, 67%, 71%, and 79% and remaining part is covered by other elements. CHAPTER-V CONCLUSION AND RECOMMENDATION 5. Conclusion and RecommendationWorking capital management is the same of liquidity management and its related inversely with profitability but this theory always doesn't work. Here, I have found the different relationship between the component of working capital and profitability by taking financial data of Dabur Nepal Ltd and Surya Nepal Pvt. Ltd manufacturing from 2006-2011. This study appears that there is a negative significance relationship between average receivables collection period (ARCP), average conversion inventory period (ACIP, only case for Dabur), average payment period (APP) and the profitability measures.It is proved also a negative relationship between the cash conversion cycle (CCC) from the data of Dabur Company but it is not the result of universal fact because it is also proved that there can be a positive relationship between CCC and Profitab ility. The reason behind this can be the political risk, poor economy, lack of availability of raw materials and delivery of goods and services in time due to the labor union problem, increasing in supplier power, unavailability of credit facility, poor management of current assets and lack of efficient procedure and subsidy facility from government.After this analysis, the study recommends for the firms to manage their working capital efficiently to achieve the optimal profitability. Thus, the firms can manage their working capital through reduce the length time between sell the goods and receive cash of sales, it can do that by accelerating its collections. And it also reduce the length time between convert the raw materials into finished goods to sell these goods through. On the other hand the firms should shorten the length time between purchase goods to pay their purchases.All these will lead to shorten the cash conversion cycle and then lead to achieve the optimal profitabilit y. Moreover, we can't say that there will be lower profit due to higher CCC because due to the environmental factors the component of working capital can be influenced and result can go beyond the planning and objective. In the context of Nepal, where the practices of working capital management is poor and as a result firms are generating lower profit. Secondly, long procedure of raw material conversion and delay of payment also reduces the profit of firm.It can be the one cause of Positive relationship between CCC and profitability in case of Surya Nepal Pvt. Ltd. Therefore, reduction of working capital is not only best solution because environment analysis is also important factor. References: Amit, K. Malik, Debashish Sur and Debdas Rakshit (2005). Working Capital and Profitability: A Study on their Relationship with Reference to Selected Companies in Indian Pharmaceutical Industry, GITAM Journal of Management. 3: 51-62. Deloof M (2003). â€Å"Does Working Capital Management Aff ect Profitability of Belgian Firms? J. Bus. Financ. Account. , 30(314): 573-587. Dr. S. , Ray â€Å"Evaluating the Impact of Working Capital Management Components on Corporate Profitability: Evidence from Indian Manufacturing Firms† 2012 Eljelly, A. M. (2004). Liquidity –Profitability Tradeoff: An Empirical Investigation In An Emerging Market, International Journal Commerce and Management. 14(2), 48-61. J. , Desai ; N. , A. Joshi, â€Å"Effect of Working Capital Management on Profitability of Firms in India† March 2, 2011 ; http://papers. ssrn. com/sol3/papers. cfm? bstract_id=1774686; Lazaradiz, I and Tryfonidis, D. (2006). Relationship Between Working Capital Management And Profitability Of Listed Firms In the Athens Stock Exchange, Journal of Financial Management and Analysis. 19(1), 26-35. Mukhopadhyay, D (2004), Working Capital Management in Heavy Engineering Firms- A Case Study, myicwai. com. knowledge/fm48. Raheman, A. , ; Nasr, M. (2007). Working Capital Management And Profitability – Case Of Pakistani Firms. International Review of Business Research papers, 3(1), 279 – 300.Scherr, F. C. (1989). Modern Working Capital Management, Text and Cases. Englewood Cliffs, New Jersey: Prentice-Hall International Editions. Sur, D. , Biswas and Ganguly, P (2001). Liquidity Management in Indiaan Private Sector Enterprises: A case Study of Indian Primary Aluminium Producing Industry, Indian Journal of Accounting. June: 8-14. Shin, H, H and Soenen, L. (1998). Efficiency of working Capital Management and Corporate Profitability, Financial Practice and Education8 (2),37-45.

Life Without Television

When my family’s only television set went to the repair shop the other day, my parents, my sister, and I thought we would have a terrible week. How could we get through the long evenings is such a quiet house? What would it be like without all the shows to keep us company? We soon realized, though, that living without television for a while was a stroke of good fortune, It became easy for each of us to enjoy some activities alone, to complete some postponed chores, and to spend rewarding time with each other and friends. First of all, with no television to compete for our time, we found plenty of hours for personal interests. We all read more that week than we had read during the six months before. We went to the library to get some books. Dad and mom picked out Old Yellow for us while we got Where the Red Fern Grows and Robinson Crusoe. Everyone enjoined them so much that by the end of the week almost all of us had read every book twice. We each enjoyed some hobbies we had ignored for ages. I went outside to work on my tree house with dad. Mom was knitting a scarf and my sister worked on her scrapbooking. In addition my sister and I both stopped procrastinating with our homework. For the first time in a long time we both had our homework done and ready to go the next day. Second, we did chores that had been hanging over our heads for too long. There were many jobs around the house that had needed attention for some time. My sister had piles of clothing all over the room that she finally took the time to clean up. Mom went and cleaned all the floors around the house Dad and I fixed some doors and my bedroom lock. We also had a chance to do some long-postponed shopping. We went to Wal-Mart and bought school supplies, shavers, shampoo, clothing and many other small items that we needed around the house. After we got home from shopping each of us also caught up with e-mail and did paperwork that was long overdue. Finally, and probably most important, we spent time with each other. Instead of just being in the same room together while we stared at a screen, we actually talked for many pleasant hours. We laughed long and hard as dad was telling some of his sweet childhood stories. We also talked a lot about school and everyday things. Moreover, for the first time in years, my family played some games together. For hours on end we played monopoly until everyone had at least won once. Then dad and I went to play some chess, while mom and my sister played some checkers, and because we didn’t have to worry about missing this or that show, we had some family friends over on a couple of evenings and spent an enjoyable time with them. Dad started up the fire pit and set up some lawn chairs, and we all sat around the fire playing musical instruments, roasting marshmallows, and telling jokes. Everyone seemed to have such a wonderful time on those evenings. Once our television returned, we were not prepared to put it in the attic. But we had a sense of how it can take over our lives if we are not careful. We are now more selective. We turn on the set for our favorite shows, certain sports events, and the news, but we don’t leave it running all evening. As a result, we find we can enjoy television and still have time left over for other activities and interest. Life Without Television When my family’s only television set went to the repair shop the other day, my parents, my sister, and I thought we would have a terrible week. How could we get through the long evenings is such a quiet house? What would it be like without all the shows to keep us company? We soon realized, though, that living without television for a while was a stroke of good fortune, It became easy for each of us to enjoy some activities alone, to complete some postponed chores, and to spend rewarding time with each other and friends. First of all, with no television to compete for our time, we found plenty of hours for personal interests. We all read more that week than we had read during the six months before. We went to the library to get some books. Dad and mom picked out Old Yellow for us while we got Where the Red Fern Grows and Robinson Crusoe. Everyone enjoined them so much that by the end of the week almost all of us had read every book twice. We each enjoyed some hobbies we had ignored for ages. I went outside to work on my tree house with dad. Mom was knitting a scarf and my sister worked on her scrapbooking. In addition my sister and I both stopped procrastinating with our homework. For the first time in a long time we both had our homework done and ready to go the next day. Second, we did chores that had been hanging over our heads for too long. There were many jobs around the house that had needed attention for some time. My sister had piles of clothing all over the room that she finally took the time to clean up. Mom went and cleaned all the floors around the house Dad and I fixed some doors and my bedroom lock. We also had a chance to do some long-postponed shopping. We went to Wal-Mart and bought school supplies, shavers, shampoo, clothing and many other small items that we needed around the house. After we got home from shopping each of us also caught up with e-mail and did paperwork that was long overdue. Finally, and probably most important, we spent time with each other. Instead of just being in the same room together while we stared at a screen, we actually talked for many pleasant hours. We laughed long and hard as dad was telling some of his sweet childhood stories. We also talked a lot about school and everyday things. Moreover, for the first time in years, my family played some games together. For hours on end we played monopoly until everyone had at least won once. Then dad and I went to play some chess, while mom and my sister played some checkers, and because we didn’t have to worry about missing this or that show, we had some family friends over on a couple of evenings and spent an enjoyable time with them. Dad started up the fire pit and set up some lawn chairs, and we all sat around the fire playing musical instruments, roasting marshmallows, and telling jokes. Everyone seemed to have such a wonderful time on those evenings. Once our television returned, we were not prepared to put it in the attic. But we had a sense of how it can take over our lives if we are not careful. We are now more selective. We turn on the set for our favorite shows, certain sports events, and the news, but we don’t leave it running all evening. As a result, we find we can enjoy television and still have time left over for other activities and interest.

Hetman Bohdan Khmelnytsky essays

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A hope in the unseen essays

A hope in the unseen essays In this Story A Hope in the Unseen we see a young man that has great deal of potential, that is stuck inside a school where it is hard for him to advance as far as a normal student in normal circumstances would. Our main character, Cedric, is constantly put up against odds that are against him, yet he strives to achieve so much in his life. We watch him in this book go through many triumphs and failures that most of us would never imagine having to deal with in our own lives. Cedric main supporter throughout his life is his mother Barbara. She is a very religious and caring mother that has also had many hardships in her life, including the birth of Cedric due to the fact that Cedrics father wanted her to have an abortion. She is the person that always helps Cedric to find the path he needs to be on when Cedric himself lost his way. Another large supporter early on in this book was Cedrics science teacher Mr. Taylor. Mr. Taylor realized the great potential Cedric had academically, but he also knew that Cedric frequently set his goals too high for even himself. Mr. Taylor also encouraged Cedrics growing knowledge by supplementing Cedric with after school tasks and challenges. When Cedric is accepted into the MITES program at MIT after he applied and prayed that he would get in, he put all his focus and hopes in the fact that MIT was the school for him. After getting to MIT and realizing the great difficulty and challenge it presented him, he quickly became discouraged and decided that he did not in fact want to attend MIT. After he returned to Washington D.C. after his MIT visit, Justice Clarence Thomas asked to have a meeting with Cedric in order to discuss his goals. Justice Thomas was very straightforward with Cedric and told him how he felt about Cedrics choices regarding colleges, although some of what Justice Thomas told Cedric was not what Cedric wanted to hear. ...

Mixing Regular and Synthetic Motor Oils

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Teaching and Learning Algebra - Essay Example According to the report findings if an instructor uses a version of some of these examples, students may be denied a useful frame of reference from the very start of their algebra studies. The last example does relate algebra to arithmetic, a subject which most students will have studied, may know reasonably well and may actually use in their daily lives. But even though algebra and arithmetic both involve signs, equations, numbers and computation, approaching algebra with an arithmetic mindset can cause students major problems. As the paper declares when introduced to algebra, students must reorient their thinking and recognize that â€Å"the expressions on both sides of the equals sign are of the same nature (or structure), and that there are actions which give meaning to the equality of the expressions (for instance, the action of substituting a numerical value for the unknown)†. The process to handle the minus sign before parentheses results in simplifying the expression. Thus, in the above example, 5x – (3 – x) becomes 6x – 3, a more concise and clearer way of restating the original expression without changing its value. In algebra, there is another rule for simplifying expressions, known as combining like terms, which is the third major issue confounding algebra students. Unlike the issues of the equals sign and the minus sign, solving the issue of combining like terms is a matter of following concrete rules rather than grasping concepts.

Middle East culture in business Essay Example | Topics and Well Written Essays - 500 words

Middle East culture in business - Essay Example This research will begin with the statement that in this age of globalization, partnerships and outsourcing are becoming to be the model of businesses.   In this deal, it is important to try and learn the customs and traditions of the country, one has to deal with so as not to offend the hosts. The Middle East is a very large group of diverse culture. The researcher will begin with the discussion of religion.   Religion is a way life for the Muslims, and it has an important bearing when doing business with them.   Muslims pray five times a day, so sometimes, in meetings, they have to be excused. Employers should also understand that Muslim employees have to leave their workplace on Friday afternoons for the mosque.  Ã‚   In contrast, religious practices of Christians found in the Western and Asian culture do not interfere with business because they do only go to Church on Sundays and special occasions and has no need to leave their places when praying. Like the Islam nations, Western faith is based on the Bible. It is not good to do business with Muslims during their celebration of the holy month of Ramadan because businesses are closed and they tend to spend the holidays with their families or at their holy shrine. They observe fasting from dawn to dusk and extensively engaged in their worship, so business must wait as it becomes their second priority.   The month of Ramadan is observed every tenth month of the Islamic calendar. Westerns do not observe this month-long religious activity that often interferes with business.

Impact of Latest Advances in Technology on the Recruitment and Essay

Impact of Latest Advances in Technology on the Recruitment and Selection Process - Essay Example In this regard, the aim of the current discourse is to review how the latest advances in technology have impacted on the recruitment and selection process. Likewise, the benefits and challenges of using new technological applications would be presented and expounded based on contemporary organizational experiences. Impact of Technological Advancement on Recruitment and Selection Process In a study conducted by Piotrowski and Armstrong (2006), the authors revealed that current recruitment and selection practices, based on the national survey of 1000 firms included in Fortune’s top organizations in the United States, included â€Å"personality testing on the Internet and the use of online testing for selection purposes† (Piotrowski and Armstrong, 2006, pp. 489-490). Organizations were thereby cautioned on their effective applicability due to lack of regulations imposed on online selection firms. Likewise, the authors cited the works of Barbian (2001) and Bates (2002) whos e studies contend that â€Å"most person job-fit tests have not been standardized, lack norms, and developers have not presented predictive validity data on their selection measures† (cited in Piotrowski and Armstrong, 2006, p. 490). Parry (2010) has cited that â€Å"70% of the organizations surveyed used the Internet or Intranet to deliver HR services to employees with most respondents planning to enhance substantially their e-HR capabilities over the two years† (p. 522). On the other hand, Capelli’s (2001) research indicated that a staggering 90% of U.S. organizations have already shifted to online recruiting due to the benefits in costs and efficiency accorded by this technological advancement (p. 140). There are options open to contemporary organizations regarding the use of technological applications to service HR functions. As Cappelli (2001) averred, organizations could use HR software programs that â€Å"automate the entire hiring process: they collect applications in a standardized format, screen them, determine where they came from (such as through job boards or classifiedads), monitor the progress of applications, and calculate how long it takes to fill various jobs or to get a new employee working productively† (p. 143). Concurrently, other organizations opt to outsource the hiring function through the use of external vendors, which would be discussed under challenges that these new technology presents. The website of Global Recruiting Roundtable (2011) indicated that â€Å"80.2% of companies are using Social Media to recruit and another 8.7% of companies are planning to begin this year (results of Jobvite survey, July 2011)† (Valkenburg 2011, par. 1). The percentage was a dramatic 18% increase from the 68% of the companies that used social media in 2009 to the 80.2% in 2011. The survey results from Jobvite revealed remarkable statistics that validate the effectiveness of using social networking sites such as Link edln, Facebook and Twitter; where Linkedln topped the survey at 95% of the respondents indicating that they have successfully hired through this social networking site (Jobvite, 2011, p. 8). Benefits of Using Technonological Advancement Parry

Should the government intervene in the OTC markets, pros and cons and Research Paper

Should the government intervene in the OTC markets, pros and cons and US versus Canada - Research Paper Example Securities traded in this market are not listed on the organized stock exchanges such as the Nasdaq Stock market. Some securities that are traded in the over the counter markets include common stocks, bonds, and derivatives such as forward contracts and interest rate swaps. OTC market is conducted through brokers and dealers thus is a negotiated market where trading is carried out through computer systems and telephone conversations (Poitras 61). The securities traded on OTC market are usually small since the issuers have not met the listing requirements. Though Nasdaq trades through a network of dealers, it is not an OTC market but an organized stock exchange market where trading is carried out on the floor (Poitras 73). Each year, billions of dollars are exchanged in the OTC market. OTC market mainly consists of derivative financial assets such as the forward contracts, interest rate swaps and options. The derivative market has experienced a phenomenal growth since 2000. Derivative instruments were designed for the agricultural industry to hedge the farmers against crop failure, or expected price movements. Derivative contracts have been extended to the main sectors of the economy including oil industry, gold markets and financial sector. Derivatives have the potential of hedging against unforeseen risks and price moments but are subject to abuse by greedy investors (Wood 67). The Commodity Future Trading commission has the mandate of regulating the derivatives market including derivatives traded in the stock exchanges. The derivatives traded in the exchange markets account for $ 334 trillion each year meaning the value of the underlying assets involved is also $ 334 trillion. The main derivatives in the exchange markets are options and future contracts. However, most of the derivative instruments do not trade on the exchange markets, but are transacted in the OTC market. Each year, $ 684 trillion of underlying assets are traded in the OTC market where most of the derivative assets traded include the interest rate swaps, currency swaps, credit default swaps, commodity indexes and exchange rate swaps (Madura 90). Derivative contracts have one similar feature since their value depends on the price movements of the underlying asset (Wood 87). The underlying asset may be a physical commodity or a stock market index or the rate of interest prevailing in the mar ket. Derivative instruments such as options, swaps and future or forward contracts lose or gain value as the underlying asset changes in value even though the holder of the derivative may not be the owner of the underlying asset (Madura 117). Millions of business firms use the derivative instruments to manage foreign exchange risks. Firms protect their profitability against the raw material price increase by entering in to a derivative contract that automatically increases in value when price of the raw material increase. For instance, Southwest Airlines managed to purchase jet fuel at lower prices in 2008 when the energy prices were soaring since it had entered in to a derivative position (Madura 198). Generally, there are two categories of derivative contracts. The first is the option contract that providers the option holder the choice of buying or selling the underlying asset over a certain period of time. The other is the future contract, this contract obligates the holder to b uy or sell the underlying asset on the expiry of the contract period. All other derivatives such as options and swaps have evolved from the above two derivative contrac

Impact of Latest Advances in Technology on the Recruitment and Essay

Impact of Latest Advances in Technology on the Recruitment and Selection Process - Essay Example In this regard, the aim of the current discourse is to review how the latest advances in technology have impacted on the recruitment and selection process. Likewise, the benefits and challenges of using new technological applications would be presented and expounded based on contemporary organizational experiences. Impact of Technological Advancement on Recruitment and Selection Process In a study conducted by Piotrowski and Armstrong (2006), the authors revealed that current recruitment and selection practices, based on the national survey of 1000 firms included in Fortune’s top organizations in the United States, included â€Å"personality testing on the Internet and the use of online testing for selection purposes† (Piotrowski and Armstrong, 2006, pp. 489-490). Organizations were thereby cautioned on their effective applicability due to lack of regulations imposed on online selection firms. Likewise, the authors cited the works of Barbian (2001) and Bates (2002) whos e studies contend that â€Å"most person job-fit tests have not been standardized, lack norms, and developers have not presented predictive validity data on their selection measures† (cited in Piotrowski and Armstrong, 2006, p. 490). Parry (2010) has cited that â€Å"70% of the organizations surveyed used the Internet or Intranet to deliver HR services to employees with most respondents planning to enhance substantially their e-HR capabilities over the two years† (p. 522). On the other hand, Capelli’s (2001) research indicated that a staggering 90% of U.S. organizations have already shifted to online recruiting due to the benefits in costs and efficiency accorded by this technological advancement (p. 140). There are options open to contemporary organizations regarding the use of technological applications to service HR functions. As Cappelli (2001) averred, organizations could use HR software programs that â€Å"automate the entire hiring process: they collect applications in a standardized format, screen them, determine where they came from (such as through job boards or classifiedads), monitor the progress of applications, and calculate how long it takes to fill various jobs or to get a new employee working productively† (p. 143). Concurrently, other organizations opt to outsource the hiring function through the use of external vendors, which would be discussed under challenges that these new technology presents. The website of Global Recruiting Roundtable (2011) indicated that â€Å"80.2% of companies are using Social Media to recruit and another 8.7% of companies are planning to begin this year (results of Jobvite survey, July 2011)† (Valkenburg 2011, par. 1). The percentage was a dramatic 18% increase from the 68% of the companies that used social media in 2009 to the 80.2% in 2011. The survey results from Jobvite revealed remarkable statistics that validate the effectiveness of using social networking sites such as Link edln, Facebook and Twitter; where Linkedln topped the survey at 95% of the respondents indicating that they have successfully hired through this social networking site (Jobvite, 2011, p. 8). Benefits of Using Technonological Advancement Parry

Journal Essay Example | Topics and Well Written Essays - 250 words - 82

Journal - Essay Example promised to withdraw all troops from Afghanistan, and those who were to remain were only to be involved in training the Afghanistan soldiers, and not actively helping them in combat missions as the new deal states. Therefore, this makes the story even more controversial, and the writers are seeking audience with Americans to give their opinion on the issue. Moreover, the authors seem to condemn the move, which makes the story bias. Since the involvement of US troops in Afghanistan is an issue that has been debated for years, I would expect the authors to give a little background into the matter. However, the article falls short of any background information regarding the issue. Nevertheless, the authors use quotes from a senior US administrative official, which makes what they report credible. They also refer to an article on Times talking about the same story, and since Times is a reputable newspaper, it gives the story further credibility. Overall, the story is well presented, organized, and easy to

Fredrick Douglas And Abraham Lincoln

Fredrick Douglas And Abraham Lincoln In my research paper the two parties Douglas and Lincoln has undergone a lot in terms of political differences first Douglas announced that his work was to fight against slavery both in united states and England while Lincoln on the other side could not want to do away with slavery since he believes that it will tear away the union in the government.douglas agenda was to establish political system which will abolish slavery in the union and slavery that should be within the constitution and he believe that involving the local communities in political activities will be infective and it might move domestic violence forefront while on the other side Lincoln admitted that the only way to live is to hold men in slavery since slavery was their in the states. While doulas believe he will change so much republic party into abolitionist party Lincoln viewed that war was the worst scenario he will imagine while Douglas princely wanted what Lincoln did not want. Douglas was owned as the black leader and symbol of his age and he his ago thinker which most of the Americans did not like. Douglas was respected as the father founder in August 10, 1863 relationship between Douglas and Lincoln starts to pin down after Douglas won the game. Now at this point Lincoln starts to change and views towards black has completely and a black was invited to the white house and was respected so much. At this point Douglas respected Lincoln which was now a complete turn around from the public which was announced through newspaper. Relationship between Fredrick Douglas and Abraham Lincoln. The impact between Fredrick and Douglas was based on slavery in USA which has caused both a self-taught fugitive slave.douglas has announced his work as a slavery in America but he proudly announced that both united states and England publishing antislavery newspaper that nothing will ever stop him from fighting against slavery. During elections of Abraham Lincoln for presidency sparked a chain of several events which in one way or another will cause civil war. Lincoln was pushed towards a definitive immediate of policy Douglas for almost four years. Relationship between Douglas and Lincoln was actually announced by correspondence by use of newspaper or public meetings and letters and later they only met during proclamation.Relationship between Douglas and Fredrick went down due to difference in policies and they had tenuous relationship. However their relationship starts to grow and they became profound when the realities of war ended in America slavery which bound the two towards r espect for the other. Douglas his agenda was to establish political system which will abolish slavery. Douglas focused much to end slavery which he thought and said it is only to use political leaders in the government and abolishing the slavery should be within the constitution. It was proved that if the local community and regional activities politics will be infective which was moving very first in terms of politics. Douglas later realizes that if he gives a chance to the third party he will have a even no chance during the campaign because there politics are based on antislavery. The formation of party in 1854 was proved now that it was the good to abolitionists. In the republic party there were some elements like liberty party, free soil party and other antislavery forces which were from democratic and Whig parties. With the combination of several parties the political appeal to Douglas that may be it was the best party to enter white house. Although it was the first to decide may be republic will give him a chance to enter. Douglas was in high fear that no president know how to end slavery which he thought that it was only by preserving peace and union in the nation.Mr. Lincoln admitted that the only way to live is to hold men in slavery since it is existing in the states this was the beginning of harsh criticism and Douglas militants attitudes of Lincoln with the administration. Douglas believes so much that he will turn the republic party into abolitionist party and Lincoln will be abolitionist president. Lincoln was elected to the office but Douglas remains while watching Lincoln in emancipate. Lincoln believe so much in slavery that will bring difference in parties which led to suffering from fatally ambiguous attitude towards negro.Lincoln believe so much that if slavery will end it will bring down sectional conflicts and prevent warfare so according to Lincoln views is that theirs no question of slavery and it will left the public mind rested with the course of ultimate extinction. He insisted that there is no point of world where negro is not entitled to any enumerated in declaration of independence. Abraham took the office in 1861 and he knew the office need a lot of repair. Day by day there was a lot of debating concerning the slavers issues in the whole nation and at this moment Lincoln and Douglas had two different agendas. Lincoln needed president mission war to save union while Douglas need to free slaves and either way to safe the citizens. Lincoln viewed that war was the worst scenario while Douglas precisely wanted what Lincoln did not want regardless to what either two wanted the war did not come both Douglas and Fredric now both openly fought for their causes. Later that year, when the secretary of war simony Cameroon arming slaves within the borders. Lincoln made him to stop the section. Again Lincoln tried to avoid making decisions concerning slavery in may 1862, general David hunter issued order to emancipate all slaves in south military region. Which included south Carolina, Georgia and florida.In 1862 Lincoln announced proclamation revoking general hunter order and he declare that the government of stats does not have knowledge, information, belief, and the proceed which make Lincoln to feel so distressed and from political signed a bill abolishing slavery in district of Colombia, and in may he compiled with general Benjamins policy of contrabands of war which freed by august thousands of slaves run away to butler positon.Lincoln was a good leader who valued legality and he was a politician who moved only when time is right for him to do so..In 1862 it was significant policies of Lincoln administration Lincoln started to recognize iss ues of emancipation and preservation of union. Went hand in hand. Now agendas merge that s military and political agendas.lincoln starts acting towards abolition. Douglas grew more militant with Lincoln administration and kept to push them in direction of emancipation. But Lincoln still stick to preserving union which was the major problem Douglas pressed on to criticism of Lincoln administration s inability to take powerful measure against slavery..Douglas article announce till Lincoln announced of emancipation proclamation .In September 1862, the article tell us more of what expected from Lincoln was so impatient of public Douglas was still waiting for Lincoln to end war of putting the slaves in danger. In September 1862 publication of Douglas monthly article the presidents speeches directly attack in Lincoln character increasing passing making himself appear silly and ridiculous, unacceptable and his illogical statement and unfair it further claim yet to muster courage and honest ly enough to obey and execute his testimonies In the course of war Douglas consider some old conservative policies which he try to starts to bring up the union back together .In 1863 Douglas try to appeal many sides of chaos in the nation but unsuccefully Lincoln leave Douglas frustrated and now Lincoln would celebrate thinking that he has play cards on Douglas. Thinks were not working well to bring nation together so he had make his own bold way and move. During the summer of 1862, Lincoln had talk with the cabinet privately about constitution was thinking it was the best thought to postpone the announcement of the Proclamation until the country was supported by military success. In august 10 1863 relationship between Douglas and Lincoln starts to pin down. Douglas went to Washington to meet Lincoln for the first time. Lincoln behavior towards Douglas revealed much about how he felt about him and views towards black has changed completely. Black man was ever personally invited into white house with respect. As for the growth of Lincoln towards slavery issues on the occasion Douglas felt Lincoln showed a deeper moral convictions towards slavery that had ever seen before Douglas appreciated Lincoln for treating has equal has others at this moment Douglas respected Lincoln which was complete turn around from his blatant outrage expressed publicity through his newspapers. Douglas and Lincoln will meet on different ocasssions to discuss on issues of ex-slave and future in United States because to grow more profound. After emancipation of proclamation, Lincoln still considers colonization as variable option to deal with black presence. But Douglas, black enlistment in military was the strongest opinion and confederacy and to be a part of ennobling and soul enlarger war for black liberation. Douglas and Lincoln after announcement of emancipation proclamation which make Douglas to grow respect admiration of Lincoln deep respect for Lincoln is true bets expressed in the years after his assassination the 21st anniversy of Lincolns death Douglas true feeling comes out our faith in him is often taxed and strained uttermost he later declare that honoring his memory is important because under his rule there was confederate states which is based upon the ideas that the race must be slaves. Douglas understanding Lincoln slowness to deal with slavery issue was necessary caution he put abolitionion of slavery before him a powerful class of America people and ended resistance.douglas and Lincoln had not yet met until summer of 1863 but their relationship was so good and order to understand how Douglas felt about the political climate and Lincoln emancipation was clear that war which brought the two parties together into political ideologies and now which ultimately paved the way for the two to be appreciated and appreciated each other in deep sense and good heart. The fusion of the two political ideologies is not only to indicate that men change greatly in terms of political but also to show the moral and courages people and political ideologies merged because the two now have grown to respect each other deeply Lincoln and Douglas were now in a position to overcome all difficulties they have been undergoing and misconception about the two partners when Lincoln dies he left Douglas his most favorites walking staff as sigh of profound appreciated and gratitude Douglas commented on Lincoln by changing a portrait of him in his home Washington dc the relationship between the two has a milestone in American history that would positively influence future of race solutions. In the manner of Garry wills Lincoln at Gettysburg (1992) James a. colaico study of Fredrick Douglas famous 1852 independence day speech is far more than examination of single -hour speech.Calaico seeks for probe and political social thinking of the most famous African abolitionist and political leader of the 19th century Douglas was the black leader and symbol of his age, but he was thinker and many Americans ignored. Douglas lived more than any other given expressed dilemma facing African Americans they praise independence, constitution which calls for quality to all men. Douglas argument was hypocrisy to Americans who extolled the meaning of July 4th while ignoring the slavery of black Americans.Douglas employed a normal independent to demonstrate hypocrisy. In most of his speeches Douglas was a provider of piercing critique of slavery itself. Douglas was a Jeremiah who employ jeremiad as outline by sacvan bercovitch, constantly calling Americans to abandon their sinful way to fulfill Nobel ideals to declare he was the father founder. The argument that Douglas announced was to the Americans that they need only to adhere to the ideals of America to achieve the greatness inh erent in the institutions. For the reader unversed in the history of abolition movement, the rule of William loud garrison and battles between the moral suasion, and political abolitionists, co-lalacos monograph provides an excellent introduction in a concise well-articulated way the enhances the book without overwhelming the central story of Douglass thinking about America colaiaco also covers the key influenced Douglass thinking and eventually brought on the civil war in 1829,oration outlined mans of the same arguments Douglas used twenty three years later. Douglass lasting achievements was to utilize those arguments to construct both a more profound compelling critique of status and more realistic vision of post slaves America Both Douglas and Lincoln were born poor. Douglas was brought up in his grandmother slave shacks in Talbot County, Maryland and Lincoln was in one-room, cabin in Harding county, Kentucky.Both lost their mothers when they were very young though doulas lost his mother when he was only seven years old Douglas was separated from her mother when he was infant. Lincoln lost his mother due to drink poison in the toxic milk at the age of nine. Both were born in 1809 while Douglas was born in 1818.In terms of standing they have 6 inches taller than most common men in these days. Douglas was a slave under American law but Lincoln was considered as a slave in the beginning of civil war speeches Douglas urged Lincoln in his public speeches and newspaper to allow blacks their rights and to fight for freedom. Both men married women above their social status and this likely helped them with their success. Douglas married his wife Anna Murray on September 15, 1838 she was a free black woman of some m eans five year old son.lincoln married marry Todd on November 1842 she was a daughters of wealthy slare holder from Lexington, both men were gifted orators in a day when speakers were regarded on much the way that many regard sports or movies stars today. Speeches were a form of entertainment as well as education, Lincoln use his gift for oratory to win elections and gain public supports of policies, both would hold several public offices through their lives. After meeting senator Samuel promessors of kansa, secretary of war Edwin Stanton, Douglass arrived at the soldier home when Lincoln was spending the summer. He gave his calling card to sternward and prepare for long wait.lincoln greeted Douglas by saying Mr,dougas I know you I have read about you Douglas impressed by the presidents candor said I was never in any way reminded of humble origin or my unpopular color. Douglas had many meeting with the president in his offices Douglas and Lincoln forged a friendship that would last the rest of Lincolns brief life upons Lincoln death Douglas was implored to speak at a gathering of mourners at the Rochester courthouse of his speech.In 1863 that was the time blacks finally won the right to military services. Fredrick Douglas and Abraham Lincoln met for the first time in Washington dc hoping to meet president to seek for redress for the constitution. Lincolns father hired him out for manual labor to earn money for the family while Douglas was hired out for his masters profit and salves. They both had little education where Douglas began learning to read when he was sent to serve huh auild in Baltimore. Auld wife began to teach Douglas the alphabet.lincoln only attended 18 months of formal schooling from itinerate teaching at frontier school. Both share same basic reading skills and they mostly read bibles. Conclusion In conclusion material both Douglas and Lincoln has however thought many how life his difficult when the rich just want go high day by day. Both men are really of dignity in the other way Lincoln did not initially set out to end slavery but he only meant to preserve the union which he thought union without freeing the slaves would not do .And later I came to realize that In august 10 1863 relationship between Douglas and Lincoln starts to pin down. Douglas went to Washington to meet Lincoln for the first time. Lincoln behavior towards Douglas revealed much about how he felt about him and views towards black has changed completely. Black man was ever personally invited into white house with respect. As for the growth of Lincoln towards slavery issues on the occasion Douglas felt Lincoln showed a deeper moral conviction towards slavery that had ever seen before Douglas appreciated Lincoln for treating has equal has others. Although both did not see each other eye to eye but both did no t find common ground on some issues through mutual respect and civic debate. Most important lessons that can Americans learn from these two great men was that they only disagree without being disagreeable simple respect goes along way and you never now. I understand that both men Douglas and Lincoln were born poor. Douglas was brought up in his grandmother slave shacks in Talbot County, Maryland and Lincoln was in one-room, cabin in Harding County, Kentucky. Both lost their mothers when they were very young though doulas lost his mother when he was only seven years old Douglas was separated from her mother when he was infant. Blight W. David, Frederick Douglass and Abraham Lincoln: a relationship in language, politics, and memory, lectures, Marquette University Press, 2001 Blight W. David, Beyond the battlefield: race, memory the American Civil War, University of Massachusetts Press, 2002Carson Clayborne, Emma Jones Lapsansky-Werner, Gary B. Nash, African American lives: the struggle for freedom, African American Lives: The Struggle for Freedom, Clayborne Carson, Pearson Longman, 2004 Marten A. James, More than a contest between armies: essays on the Civil War era, Frank L. Klement Lecture Series, James Alan Marten, A. Kristen Foster, Kent State University Press, 2008 Benson W Thomas. Rhetoric and political culture in nineteenth-century America Issue 6 of Rhetoric and public affairs series,Thomas W. Benson, Michigan State University Press, 1997.Shenk W.Joshua , Lincolns Melancholy: How Depression Challenged a President and Fueled His Greatness, Houghton Mifflin Harcourt, 2006 Guyatt N, Providence and the invention of the United States, Cambridge University Press, 2007 Finkelman P, Encyclopedia of African American history, 1619-1895: from the colonial period to the age of Frederick Douglass, Volume 2, Paul F, Oxford University Press, 2006 Civil War Society, Civil War: the magazine of the Civil War Society, Issues 66-74, Country Publishers, 1998 Douglass F,Douglass monthly, Volumes 4-5,Negro Universities Press, 1862 Thompson E.Julius, The Frederick Douglass encyclopedia, James L. Conyers, Nancy J. Dawson, ABC-CLIO, 2010