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Developing Sourcing Strategies Assignment

Introduction

Developing Sourcing Strategies AssignmentThis report is aimed at developing a sourcing strategy in light of the information provided in the reference article ‘Back to Reality’ (Williams, 2012) and analysing the available information while considering the constraints of doing business in the modern world.

The report talks about why it is important and necessary to have a sourcing strategy due to various factors. The focus is then shifted to the possible challenges and things to watch out for while making decision to outsource a business process, activity or product.

The report also highlights some of the key steps while making a sourcing decision and the factors that need to be considered while zeroing in on a vendor and recommendations are provided for the way ahead for businesses and the mind-set change required for making the most out of a vendor relationship.

The guidelines and suggestions are substantiated with relevant recent examples wherever applicable to reinforce the concept.

The Need for a Sourcing Strategy

Though the article (Williams, 2012)primarily talks about the hazards of outsourcing and lays emphasis on back sourcing, it is clear that in the modern era businesses simply cannot survive without outsourcing some, or in some cases, most part of the business.

A business may source raw material (product vendors) or services (website development, IT system implementation, housekeeping) from another vendor or may outsource their processes (customer relationship management, accounts processing, recruitment) or even knowledge based activities (market research, pharmaceutical research and development) (Howells, et al., 2012)or any combination of these or several other types of outsourcing. The very existence of so many types of outsourcing businesses point out the futility of bashing outsourcing.

Several reasons why outsourcing is important are:

Core vs.Non-Core Activities

As per Pareto principle, 80% of the activities are non-value adding and the resources spent on 20% activities are what contribute to the business’ growth and sustenance. Thus it is prudent to concentrate on the value adding or core activities and outsource everything else. Another way to look at it is through the delegation principle which states that one should do what only he can do and delegate everything else. The same is true for businesses in the context of outsourcing(Ganhinhin, 2012).

Expertise and Economies of Scale

If someone else can do a job better than you, at a lesser cost, outsourcing is the way to go since specialized vendors have the expertise and the economies of scale to bring down costs while not compromising on quality(Williams, 2012). Vendors can also be source of valuable insights when entering new, unexplored markets.

Obsolescence

Certain business environments tend to lend themselves a natural fit for outsourcing. In highly capital intensive industries with quick obsolescence, leasing the equipment from a vendor instead of buying are preferred(Gordon, 2008).

Thus, there is no escaping vendor management and outsourcing. To better manage the interaction while mitigating the risks, it is important to have a sound sourcing strategy in place.

 Problems and Issues When Developing Sourcing Strategies and Relationship with Key Suppliers

Highlighting the inevitability of outsourcing in no way implies that it is risk free. In fact, there are several risk factors that must be carefully thought through while making a decision. While the article mentioned in the assignment highlights several risk factors, some worth mentioning are:

What factors?

Confidentiality

One of the biggest risk factors while outsourcing important tasks is to consider the confidentiality aspects. Processes and activities dealing with sensitive customer information like credit card details, social security numbers etc. and critical business information like new product launches etc(Handley & Jr., 2012). should be carefully examined from a risks-return and trade-off point of view. ???? what you mean? Is the English correct? Yes this is correct English (refer a dictionary). These aspects become highly important in industries dealing with personal records like in the case of financial services and healthcare. Any leak or misuse of data can not only lead to loss of business but also in litigation and ruining of public image. Thus, not only is it important to choose the vendor carefully but also utmost care must be taken in identifying the activities to be outsourced.

Developing Sourcing Strategies AssignmentPublic Image

Working in silos is outdated and vendors are perceived more and more as an extension of the clients’ business. Thus any misconduct on the vendor’s part will also reflect poorly on the public image of the customer. Apple is the example that immediately comes to mind when one thinks of this situation. The in human conditions in factories manufacturing for Apple in China have been highlighted several times in the recent past. One cannot help contrast it with the hefty profit margins Apple commands(Apple Inc., 2011). Similarity when one hears of Wal-Mart squeezing its suppliers to the limit, the company’s public image, and also the business, is bound to take a beating. Therefore, while it is important to keep in mind the cost savings brought by the vendor relationship, considering the terms of engagement to ensure fairness to the vendors is also important. The pesticide issue raised against Coke and Pepsi (Bouckley, 2012)in India is a great example of how companies need to spend a lot on damage control which could have been avoided had necessary precautions been taken. In general, higher the brand value, higher is the risk of the public image getting tarnished due to vendor’s mistakes reflecting on the company.

Should have more citation on this paragraph ?you said apple example, where is the source come from?

Competition

The threat of a major vendor turning into a competitor is very real, as also highlighted in the article. SAP (Saran, 2012)is among the biggest customers of Oracle’s database software. Now, Oracle is the biggest credible threat to SAP’s dominance in the ERP market. To counter this, SAP has started decoupling its offerings with Oracle. Similarly, after Samsung (Worstall, 2012)became Apple’s biggest competitor in the smartphone market while being the major supplier of chips to Apple for iPhones and iPads, a billion dollar lawsuit followed and now Apple is trying to reduce Samsung’s footprint in their products.

Communication

Requirements clarification is another major cause of concern (Ward, 2010)especially when the vendor and customer are not at the same location. If the requirements are not clarified upfront, communication gaps can set in and the entire vendor relationship can come crashing down. It is important to ensure that the requirements are clarified to the vendor and the terms of engagement are mutually understood and agreed upon.

Priorities Mismatch

Then there is always the principal-agent problem. Vendors will act in their best interests sometimes even at the cost of the customer if the customer isn’t careful(Handley & Jr., 2012). To eliminate this problem, again it is important to clarify the terms beforehand, set expectations and identify goals that are aligned with the objectives of vendor and customer, both.

Practices to Address Potential Problems

Although a supplier relationship is a strategic one and evolves over a long term, there are a few things that need that need to be considered before a vendor is taken aboard(Guth, 2007). Literature points out various vendor management best practices (Ganhinhin, 2012)and some of the basic things that need to be verified, in the same sequence, are:

Organisational Soundness

It is important to verify the stability and soundness of the organisation one plans to do business with. Though this is a generic statement in sense of B2B relationships, it becomes even more critical in case of upstream relationships. The potential vendors’ business philosophy and culture should match that of the customer so that there is no cultural mismatch. Things that need evaluation here are the ownership structure, corporate policies, the financial condition of the vendor, relative position in their segment etc(Bose, 2012). Though these seem trivial, many times the importance of these factors may be overlooked in favour of plain cost analysis. However, it is important to note that a culture and philosophy mismatch makes seamless communication difficult resulting in a difficult relationship which can substantially increase costs in the long run.Order Now

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Easter Iseland Assignment Help

Easter Iseland Assignment HelpIn this assignment a comparative evaluation between the consumption patterns of present human civilization and the consumption pattern or a inhabitant of eastern islander would be done. Easter Island is particularly chosen for this assignment because this island is one of the remotest islands inhabited in world and they are very much distant from latest developments in the outside world and its civilization. Their consumption pattern in life is closer to the consumption pattern or earlier civilizations making it easier to compare today’s consumption pattern and analyze the difference from past (Hunt and Lipo, 2006).

Easter Island is a Polynesian island present on the Pacific Ocean at the southern most corner of Polynesian triangle. Geographic location of this place is so remote that only a hand full of people reaches there, that too mostly as tourists. Main tourist attraction in Easter Island is presence of 887 numbers of statues which are huge in size. They are exact replica and well known as Maoi statues. Island was named because its discoverer reached island on the Easter Sunday. Isolation of the island can be assessed from the fact that there nearest habituated island is more than 1300 miles away and its total population is 100 people. Easter Island is habituated by native members of Hitorangi clan. Local people are also known as Rapa Nui people. These people are fully dependent on the yields of subtropical forest present on the island and some business generated by the tourists which are visiting the island. Origin of the island was from a volcanic eruption and it contains 3 fresh water caters which takes care of the fresh water needs of the local population. There are no fresh water streams or river in the island which can be stated as permanent. Total population of the island in 2002 census was 3971 people and 69 percent of people are pure breed rapanui people.

If we look at the consumption pattern of native people of Easter Island then it is very primitive in nature and they are surviving on consuming the limited resources which are available on the Easter Island. It is estimated that environmental degradation was observed in the Easter Island due to rapid deforestation of the island. Its consequences on the local population give an indication to the current main land population about their future consequences if they continue with deforestation and environmental degradation (Peiser, 2005).

Easter Iseland Assignment HelpEaster Island was first habited during 4th century and they were a very rich ecological system which attracted the migrants of European origin. Palms were the main trees present on the island and they were keeping a balance between the various systems on island. Consumption pattern of local inhabitant was very unsustainable in nature and this lead towards a present situation of a total extinction of the resources, local fauna and flora, exotic trees and birds etc. entire island is either inhabited by the alien tree types and some of the famous birds which were causing pollination of the flowers and spreading of seeds were extinct by 1500. Trees very rapidly cut by the people to built boats, light fires and cook food. They never thought about planting trees, which finally created a scarcity of trees in the island.

Local people are essentially reflecting a future of the entire human civilization because we are following the same course or path of destruction, only difference between Easter Island people and current global population is the fact that quantity of resources available with global population is much higher than Easter Island. However path of consumption is similar and until and unless people do not learn from the mistakes made by native people of Easter Island, there future would be similar and they will also face a severe lack of resources and imbalanced eco system (Beverley, 2008).

REFERENCES

Peiser, B. (2005) From Genocide to Ecocide: The Rape of Rapa Nui Energy & Environment volume 16 No. 3&4 2005

Hunt, T. L.; Lipo, CP (2006) “Late Colonization of Easter Island”. Science 311 (5767): 1603–6. Bibcode 2006Sci…311.1603H. doi:10.1126/science.1121879. PMID 16527931.

Beverley, H. (2008) Inventing ‘Easter Island’. University of Toronto Press. p. 8. ISBN 0-8020-9888-6. Order Now

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Environmental Strategy Assignment Help

Strategy

Environmental Strategy Assignment HelpA strategy of company defines its processes and ways of working for achieving the long term and short term targets. The strategy of a company is decided by analyzing the current and future industry trends and the position of the company with respect to its competitors. It is important to analyze the Micro and the macro environmental factors that are going to affect the working of a company. One of the models that is used for designing the strategy of a company is the Porter’s Five Forces Model. This model basically helps the company to decide its strategy by analyzing the five factors which are as: (Porter, 2008)

In this case, the Porter’s Five Forces Analysis is as follows:

  • Threat of the Competitors: since a large number of companies are coming are now diversifying their business form brick and mortar to brick and click, the number of competitors would be high. However most of these companies sell multiple items and our site being specifically meant for consumer durables would be able to focus well on the core competency, thus giving best services. Thus the threat of the competitor in the industry is less.
  • Threat of New Entrant: Threat of new entrant is moderate, as it would take a little time for the new company to establish its trust amongst the customers. Till then we would develop our learning curve and build on the profits by reducing costs. However, it is easy for a company to enter as the operational and capital expenditure is less, thus making the overall threat as moderate.
  • Threat of Substitutes: the threat of substitutes is low, as not all the present players have features like free installation and after sale services.
  • Bargaining Power of Suppliers: is high as timely delivery is one of the core competencies. Thus it is important to engage in supplier integration techniques which help in building good relations with the suppliers. Moreover, as the suppliers are the ones who are in direct contact with the customers, they have a better understanding of the current demand trends, which is useful for deciding the product mix.
  • Bargaining Power of Buyers: since customers today have a variety to choose from, their switching cost is minimal and thus their bargaining power is high. Thus it is important to provide services that increase customer satisfaction. (Marted, 2007)

Goals and Objectives:

The goals of the company define its business strategy. Thus it is very important that the goals of a company are measurable and practical. It is bad to both overestimate and under estimate one’s competencies as it leads to losses in both the cases. The goals of this website business would be:

  • To have the largest market share globally as far as online sale of consumer durables is concerned
  • To establish itself as the most trusted brand
  • To increase its loyal customers by increasing maximizing their satisfaction

Key Stakeholders

The working of any organization affects the people and the surrounding environment. All these people who are directly or indirectly affected by the organization’s processes are known to be its stakeholders. Various stakeholders of an online operating company are its employees, suppliers, present and future customers, its shareholders, the government of a country in which the company has presence and the surrounding environment. It is very important to keep all the stakeholders satisfied for efficient working of a company. The working of the company from the stakeholder’s point of view should be carried out in the following manner: (Mitchell, Agle, Wood, 1997)

  • Customers: are the most important stakeholder of any company as they are the major source of income for the organization. Thus, it is extremely important to keep them satisfied. The value proposition of providing quality services at affordable price will help the company in making loyal customers.
  • Employees: are the ones who carry out the implementation of a strategy. Thus, it is important that the employees understand the strategy and are able to relate to it. Moreover employees always find it comfortable to be associated with a profit making organization. As the company’s goals are aligned to achieve the highest market share, and all its processes aligned accordingly, the company is supposed to have a promising future.
  • Suppliers: these are again one of the most important stakeholders of our company. Since the company focuses on providing on-time delivery of its products, it needs to have efficient supply chain mechanism and involve in supplier integration activities to keep them satisfied
  • Shareholders: are the ones who invest their money in establishing the business, and thus it is the responsibility of the management to generate profits for them.
  • Government: since a company adds to the income of a country, it indirectly affects the government also. Thus it is very necessary that a global company like this follows all the standardized norms and regulations as defined by the government of a country.
  • Environment: the processes and the waste materials emitted by any company badly affect the environment. Moreover with environment already degrading it has become compulsory for the companies to use bio-degradable materials, so that even the waste materials can be re-cycled. Since this online operating company is not into manufacturing, this factor is taken care of to a great extent. (Thompson, 2004)

E-Commerce Business Model

Environmental Strategy Assignment HelpA business model defines that basic way in which a company would make profits. There are various e-commerce models that are used today by various companies to make profits. Some of these revenue generating models are: (Koleva, 2007 and Joseph, 2006)

  • Web catalogue model
  • Advertising support model
  • Advertising subscription fee model
  • Digital content model
  • Fee for service model
  • Fee for transaction fee model

This company runs as a vanity web-site that is into selling just one type of product, here consumer durable. The model that best suits this company is the Web Catalogue Model. This model uses the shopping cart methodology for selling the product and provides an easy graphic user interface that allows the customers to easily operate and use the website. Moreover in case of consumer durables, where customers want more of personalization and customization, this business model helps them to get the products designed according to their specific needs. (Mahadevan, 2008)

Once the company starts making profits from this basic model, it can incorporate the advertising subscription model, where the company charges for advertizing products of various companies. This can help in generating extra income.

Risks in E-Business

Every business involves uncalled risks, and it is very important to be prepared for them, to avoid losses. Especially in case of e-commerce business where there is lack of touch and feel factor, and the trust factor among customers is low, the company is susceptible to the following risks: (Knowledge Center, 2012)

  • Timeliness: one of the main reasons why people go for online shopping is because it saves times and effort to go and purchase the product. Thus Timely delivery of the product is one of the important features online shopping websites and any delay in this service can lead to customer dissatisfaction.
  • Bad Quality / Defective products: since the customers cannot see what they are buying, companies might fraud and deliver bad quality or defective products or replica of the original brands. This is one of the major reasons why customers are dissatisfied when buying online.
  • Secured Payment Options: with the increasing number of cyber crimes, there are high chances that the credit card or account details of the customers might get hacked during the transaction. Thus it is very important that a secured payment option is installed in the site.

References

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E- Commerce Business Model for Consumer Durables

Executive Summary

E- Commerce Business Model for Consumer DurablesE-commerce has grown exceptionally over the past few years and the product offerings present online have diversified largely. This change in shopping trend is majorly attributed to increasing purchasing power and disposable income of an individual and the lack of time with the growing urban population. Thus keeping in view the changing demand patterns, today almost every company is seen to have an online presence. The e-commerce companies have started selling both low and high involvement products, and consumer durables is one of the products that is being sold successfully online. This report is about various factors that are critical for any new company when establishing its business. The report highlights the present e-commerce as well as consumer durable industry trends. It further outlines various pros and cons of online marketing. The report further illustrates that a company needs to analyze its core competencies and the competitive environment before setting its goals and strategies and thus has a detailed analysis of the chosen company’s core competencies, value proposition and its competitors through Porter’s Five Forces Model. the company also needs to do a complete study of the industry trends, various risks involved in online business and then incorporate processes keeping in mind the interest of all the stakeholders. This report thus gives an understanding of the increasing trend of online marketing and outlines various steps that a company should follow when establishing their business online.

Environmental Analysis and Strategy Development

The market dynamics have changed a lot in the past. The markets today have become more customer centric rather than seller centric. Increased competition and availability of large variety has made customer the king. Availability of cheap and fast internet services and lack of time with the consumers has increased the concept of online shopping. Initially the online shopping was only for low involvement products like tour packages and books, whereas today it is a platform for selling everything from groceries to cars. Thus to compete in the high competitive environment sellers today try to gain the market through different channels and e-commerce is one of the promising ways to do that. (Webknots, 2008)

Market Analysis and Trend in Consumer Durables

The consumer durables industry is one of the fastest growing industries in the world. The demand for consumer durables generally comes from middle and upper class educated individuals who have high disposable income. The sales of the consumer durables is growing at 10% CAGR worldwide and this growth is also attributed to a number of factors like increasing purchasing power, rise in the standard of living, availability of advanced technology, and easy finances available today. (Iamwire, 2012)

The basic marketing model that works well for online shopping is AIDA model. AIDA stands for Awareness, Interest, Desire and Action. E-commerce spreads awareness in a very easy, economical and fast way through the concept of viral marketing. Growth of social marketing sites like facebook and youtube has helped many companies for marketing themselves. The e-commerce business is basically based on the fact that people today lack time due to increase in multinational jobs and urban settlement. Moreover online shopping provides a single platform to the customer where he can come and choose among the large product ranges. Moreover the online companies today provide free and fast home delivery and have convenient return policies which are the key selling point for all the online sites. The sale of consumer durables has increased to a level that it doubles every three months, and thus online sellers now have great opportunities in consumer durables market also. The online marketing has increased the footfall for consumer durable companies by bringing in customers from upcoming and developing cities as well. Some of the basic advantages of buying products online for the customers as well as the companies are: (Singh, Anand, 2011)

  • Option of choosing: Today a number of companies dealing with the products in a similar field market themselves through online media and thus provides the customer with a variety of products to choose from, thus making the whole concept more customer centric
  • Ease of spreading Awareness: the availability of social media like facebook, twitter and youtube which are strong tools of marketing, help the companies to spread awareness about their products.
  • Ease of selection: the online sites have made the option of searching the required product very easy by categorizing products into various subheads like colour, price, popularity, brands etc. This saves a lot of time of the customers with specific demands and helps in easy comparison between different brands.
  • Ease of delivery: the online shopping sites now have flexible policies for return and delivery, making the online shopping experience more enjoyable for the customers.
  • Discount offers: the companies that have online presence save on their operational costs as inventory storage cost, cost of space, cost of infrastructure and labor charges are minimized. Thus these companies have high margins and so sell their products with discounts and offer coupons. This is one of the major reasons why people go for online shopping.
  • Increases Market Presence: a company can have international presence at almost zero cost if it has a website. Thus online shopping helps companies become global easily. (Milesweb, 2009)

E- Commerce Business Model for Consumer DurablesValue Proposition

Every company needs to have a point of differentiation in its business that separates it from its competitors. This point of differentiation should be company’s core competency which cannot be easily copied by any of his competitor and thus gives them an edge over others. Most of the companies today that have an online presence provide a variety of products, big discount coupons, free home delivery and easy return policies. Thus a company needs to give more than these basic services. (Traxler, 2012)

Consumer durables are products that require high investments as compared to apparels, shoes or bags that are most common online products. Though it is a high involvement product, but the chances of customer dissatisfaction are less as there is no size or fitting issues. Thus, the value proposition for selling consumer durables would be “Maximizing Customer Satisfaction by providing quality products and value added services at best prices”. Thus the company would focus on delivering authentic products at best available discount pricing and provide effective delivery and after sale services. The key points in its services would be: (Kerin, Roger, Eric, Hartley, Steven,William, 2004)

  • Delivery within 5 working days
  • Free after sale services till one year after the sale of the product by collaborating with the manufacturing companies
  • Easy return policy; the product will be exchanged if found defective within 15 days of the compliant
  • Providing add-on accessories as complimentary gifts
  • Free installation in case the cost of the T.V., Refrigerators, A.C. and other such appliances is above a certain limit
  • Customization of the product according to the needs of the customer

Core Competencies

A core competency of a company is something that gives it an edge over its competitors and cannot be easily copied by others. The core competencies of a company are decided by keeping in mind their values, mission and vision. In this context, the core competency would be improving the back end processes which would be done in the following ways: (Network Solutions, 2007)

  • Keeping only certified quality products that offer guarantee and warranty
  • Reducing the wastage and saving on operational cost so that this can be used to give additional discount offers or add-on accessories for free
  • Analyzing the market and seasonal cycles of demand, so that right quantity of products are available as required, thereby reducing excess inventory as well as stock outs
  • Having manufacturing and distribution centers strategically location so that the products can be delivered on time
  • Having technically trained staff that can provide assistance to the customer in case of customization and solving product related queries. This staff would also give them the pros and cons of each product and suggest the most apt product to suit their needs.
  • Employing electricians for getting appliances installed.
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Complex Case Study Assignment

  1. A woman has had cold sores for years and is in the office asking for medicine to cure them. What causes these cold sores, what medications will she receive, and can the cold sores be cured?

Complex Case Study AssignmentAns: Cold Sores or Herpes labialis is a viral infection which can chronically infect a person. It is caused by HSV 1 virus and infects the lip and associated parts of a person. Herpes labialis virus can remain dormant in the facial nerves of a person and then rise up when patient is compromised immunity wise. Infection transmission from another patient and then its outbreak when patient’s immunity is compromised is the primary reason why a patient gets cold sores. They can be treated with the help of anti viral drugs and ointments. Drugs like Docosanol is a alcohol based chemical which is used to maintain hygiene of the area while acyclovir and penicyclovir would be used as antiviral drugs (Rang, et al. 2007). Cold sores is a repetitive form of disease and it generally occurs on a annual basis in a person however number of episodes can vary according to the patient’s immunity.

  1. A patient has been on rifampin therapy. She calls the clinic office and states, “I have bloody spit and my urine is reddish-orange. What is wrong with me?” What do you say to her?

Ans:- patient would be informed that colour of urine becoming reddish orange is a benign sign of the drug therapy and it is nothing to be concerned about. Generally this symptom is a indicator that drug is being absorbed by the body and its lack in urine means that patient is taking drug too close to food or milk consumption.  The other symptom of patient i.e bloody spit is a clinical sign and symptom of TB infection in lungs and with proper treatment this symptom will diminish. Both these symptoms and signs are nothing to worry about because these symptoms are seen in a large number of patients and they are not going to affect the normal physiological functions of a patient. Rifampicin is a integral part of the INH therapy and DOT therapy recommended by the physicians for TB patients and if patient is not properly educated about these possible but harmless side effects then it can seriously compromise the patient compliance to take drugs.

  1. A 62-year-old man who is receiving amphotericin-B through an IV is complaining of chills, malaise, muscle and joint pain, nausea, and headache. His heart rate is 110 beats per minute and his temperature is 100.5 °F. Is this normal? What should be done?

Ans:- all the signs and clinical symptoms which are discussed in this question is a classical sign of side effects and adverse reaction of amphotericin. To avoid these side effects patient should be initiated with a small dosage level.  Symptomatic treatment should be provided to the patient for high fever and higher pulse rate. Antipyretic drugs and beta blockers might be given to manage the side effects while patient should be monitored because some of these side effects tend to tone down after some time. Fever is also not assured to be happening because of amphotericin B or patient’s underlying infections. If situation persists then patient should be provided with alternative treatment therapy (Czock, et al. 2005). For a 62 year old male a heart rate of 110 beats per minute is high in normal condition but in case of amphotericin B treatment it is a expected heart rate so it is not abnormal. However a constant monitoring of the patient is required. Temperature of 100.5 is normal in this treatment therapy.

PART B

  1. 1 The patient begins vomiting soon after arriving on your unit. You check the ER record and learn that the patient received promethazine 12.5 mg IV push 3 hours ago. What will you do and why? You have on hand promethazine 25mg/cc. If you opt to give her another dose, how many milligrams and milliliters will you administer?

Ans:- since patient is already being administered promethazine 12.5 mg IV then it is not prudent to enhance the dosage without properly evaluating the patient. In order to control the vomiting of the patient it is recommended that patient should be administered alternative drug therapy like metaclopromide. In the mean time patient should be provided symptomatic and supportive treatment because it would take some time for promethazine to initiate a effect on the patient. NS of the patient is almost empty so she would be administered with another 500 cc of NS to avoid dehydration of patient and also insulin would be administered to control the insulin level of the patient (Craig & Stitzel, 2004).

If we decide to give more dosage of promethazine then it should be administered through IV route directly and there would be no inclusion of any NS as a infusion. Dosage recommended would be 1 mg/min slow infusion for 5 minutes and then patient would be observed for next half an hour for any change in the symptoms. If not then patient would be administered another dose of drug repetitively, since we have 25 mg /cc dosage in hand so drug would be diluted with NS until it reaches a dosage of 1mg/ml and then 5 ml of drug would be injected in the patient through direct IV drip. Reason for this changed regime is to ensure that drug reaches its onset concentration level rapidly and reduces the vomiting symptoms of the patient (Nagle, 2005). There is another argument in this question which is managing the hydration level of patient and avoiding giving any more dosage of drug because this drug take some time to reach its peak concentration and giving higher dosage can lead to toxicity in the body. Patient can be sedated for the small period of time to provide a symptomatic relief from constant vomiting.

  1. Thirty minutes after you administer the second dose or promethazine, the patient begins to grimace, show involuntary limb movements, and rhythmically protrude and retract her tongue. What is your assessment of these symptoms and plan? What medications might the physician order to reverse this process?

Complex Case Study AssignmentAns:- promethazine is not only a anti emetic but it is also a anticholinergic drug with a very potent sedative effects. This drug is used as alternative of benzodiazepines for insomnia treatment. It is also known to cause dry mouth, drowsiness and dizziness in patients specially in elderly patients. Condition which is discussed in this question is known as tardive dyskinesia which is a common side effect of promethazine drug treatment. In this condition there is a involuntary slow and repetitive movements of muscles of patient. This symptom is a late onset symptom and it has the classical signs of slow and repetitive movements. Generally this symptom is observed when a drug like promethazine is given for a long period of time or in a high dose (Bullock, et al. 2007).

Grimacing, protrusion of lips and movement of tongue inside and outside the mouth and blinking of eyes are classical signs of tardive dyskinesia and it can be managed by immediately by stopping the causative drug which is promethazine in this case. As a alternative drug metaclopromide can be given to the patient. Tetrabanzine is also a dopamine depleting drug which is approved for treatment of tardive dyskinesia but its usage is still debated by many medical experts. Immediate withdrawal of drug is the only way through which a patient can be recovered because long term presence of tardive dyskinesia can lead to long term impacts lasting months or years and in some cases even permanent damage is observed (Abbasian and Power, 2008). During this period patient should not be allowed to do any physical activity or take any decisions because then mental activity is very low and they are not in control of their movements. In low dosage some patients might not be able to understand the late onset side effects and endanger their lives.

REFERENCES

Abbasian, C; Power, P (2008) “A case of aripiprazole and tardive dyskinesia”. Journal of Psychopharmacology 23 (2): 214–5. doi:10.1177/0269881108089591. PMID 18515468.

Czock D, Keller F, Rasche FM, Häussler U. (2005) Pharmacokinetics and pharmacodynamics of systemically administered glucocorticoids. Clin Pharmacokinet ;44(1):61-98. Review. PMID 15634032

Rang, P. Dale, M. Ritter, M. and Flower, J. (2007) Pharmacology. China: Elsevier. ISBN 0-443-06911-5

Nagle, H. (2005) Pharmacology: An Introduction. Boston: McGraw Hill. ISBN 0-07-312275-0

Bullock, S, Manias, E. & Galbraith, A. (2007) Fundamentals of pharmacology, (5th ed.). Sydney, Pearson Education Australia.

Katzung,  G. (2006) Basic and clinical pharmacology. New York: McGraw-Hill Medical Publishing Division. ISBN 0-07-145153-6.

Craig, C.R., & Stitzel, R.E. (Ed), (2004) Modern pharmacology with clinical applications (6th ed.). Boston: Little, Brown and Co.

Maehle, H.  (2002) “The emergence of the drug receptor theory”. Nat Rev Drug Discov 1 (8): 637–41. doi:10.1038/nrd875. PMID 12402503. Order Now

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Organization Administration Assignment

Organization Administration AssignmentWhen administering antibiotics the nurse knows to assess stool patterns. What is the rationale behind this?

Ans:- While administering antibiotics the nurses regularly check the stool pattern of a patient. Rationale behind this monitoring is to observe the changing colour patterns of the stool. Along with colours stool consistency also indicates the side effects of antibiotics. Stool’s colour is a product of billirubin synthesized in liver and it gives the stool its characteristic colour. An antibiotic also gets metabolized in liver and if there are any harmful effects on liver or there is a potential problem with metabolizing of drug causing toxicity then it will reflected in the colour of billirubin thus impacting the stool colour. Some antibiotics also impact the natural flora and fauna of the intestine and it can cause constipation, tightening of stool, diarrhoea etc. this property of antibiotics is more prominently seen in Paediatric patients and they are constantly monitored by the nursing professionals. Frequency of the stool and their putrid smell is also a indicator of the metabolization and excretion of certain antibiotics from human body (Katzung, 2006).  (154 WORDS)

  1. What is the nursing responsibility when administering cyclosporine?

Ans:- cyclosporine is a antibiotic which can cause various side effects to a human body. In excess quantities this drug is highly nephrotoxic and hepatotoxic in nature and it tend to initiate a dysfunction of vital organs of the body. As a nursing professional it is responsibility of nurse to monitor vital signs of a patient which is being administered cyclosporin. Vital signs would primarily include blood pressure, pulse rate, breathing rate etc. volume intake and output is also monitored by the nursing professional continuously to detect any signs of kidney dysfunction. Stool colour and consistency is monitored for identifying any hepatic toxicity. Hyperkalemia is another side effect associated with cyclosporine which needs to be monitored because it can impact the cardiac rhythms and cause arrhythmia leading to serious cardiac disorders. In case of patient who are susceptible for mental disorders and neurological dysfunctions patient would be monitored for epileptic attacks (Nagle, 2005). (162 WORDS)

  1. You are caring for a patient who has been diagnosed with chronic anaemia and has decreased renal function. What medication would you expect the physician to order and why?

Ans:- in case a patient is suffering from chronic anaemia and in the mean time he is also suffering from renal dysfunction then it can be suspected that bone marrow of the patient which is responsible for producing red blood cells is depressed and it might be because of lack of erythropoietin hormone, this hormone act as a inducing hormone for bone marrow, at the same time reduced renal activity leads to accumulation of uremic acid and other toxic chemicals which can cause hydrolysis leading to anaemia in patient. It is expected that patient would be treated with synthetic erythropoietin hormone, iron tablets, folic acid and testosterone hormone. There are many vital signs which will indicate the need of treatment or any change required (Czock, et al. 2005). It is also expected that along with hormonal treatment physician would also recommend a balanced and healthy diet and maintenance of normal flora and fauna of the intestine to ensure proper absorption of macro and micronutrients from body. (158 WORDS)

  1. A 56-year-old patient is 1 week postop cholecystectomy. He has developed sepsis. The patient is receiving several antibiotics. Three days after receiving these antibiotics, the patient complains of having difficulty hearing and he has decreased urine output. What antibiotic may cause this hearing loss when given quickly? Which one may cause decreased renal function?

Ans:- gentamicin is the primary antibiotic which can cause loss of hearing to a patient and it is used frequently for infectiosn like post operative sepsis. Gentamicin is a toxic agent for the sensory cells of inner year and this hearing loss can be both temporary and permanent in nature depending upon the duration of drug intake. Cyclosporine or cephalosporin both drugs can cause nephrotoxicity and reduce the renal function of a person. Nephrotoxicty is also increased because of accumulation of toxic waste in the blood causing serious damage to the sensory enthrones present in kidney causing initiation of a vicious cycle (Nagle, 2005). Tinnitus is a common side effect associated with gentamicin and in this disease patient hears ringing sound in the ears. This is a reversible situation and patient can gain his hearing back once antibiotic is withdrawn. In order to avoid decreased urine output patients are generally prescribed diuretics and also encouraged to drink good quantity of fluids to maintain urine volume.

  1. In assessing a patient who comes to the hospital with a chief complaint of abdominal pain, you learn that the patient takes aspirin frequently each day for headaches. What would you want to teach this patient?

AnsL:- Aspirin is a salicylic acid based drug which is used to relieve a patient from mild to moderate level pain, reduce inflammation and induce the healing process after a muscle injury. It is generally given to patients with headache, mild fever, small injuries to internal musculature etc. if a patient is regularly consuming aspirin for headache then she would be informed about the side effects which can impact the body in a permanent manner. Gastrointestinal discomfort, acidity and internal bleeding in GI tract are some of the well known side effects of chronic usage of aspirin. Aspiring can cause severe gastritis in a patient leading to abdominal pain. Patient can be educated about the side effects of aspiring and informed to avoid usage of drug frequently (Czock, et al. 2005). In long term usage of drugs like aspirin there is a chance of nephrotoxicity leading to decreased urine output, development of stones in the urinary tract and permanent damage to the nephrons of kidney.

  1. A 44-year-old patient has been diagnosed with tuberculosis and was placed on several antituberculin medications. After several weeks of taking the medication, the patient is diagnosed with peripheral neuropathy. What might have caused the neuropathy? What could have been given to the patient to help prevent peripheral neuropathy?

Organization Administration AssignmentAns:- peripheral neuropathy in this case might be because of the TB induced meningitis which is impacting Central nervous system of the patient. Peripheral neuropathy generally includes pain in the lower limbs and upper limbs especially in the extremities. TB medicine like INH can also cause peripheral neuropathy. To avoid this situation patient can take a multivitamin dose with a higher level of vitamin B 6 , while on the other hand drugs like amitriptiline can also reduces the pain and symptoms of peripheral neuropathy in lower dosages (Nagle, 2005). Peripheral neuropathy is a chronic disorder which can lead to a permanent damage to the nerves present in limbs. There are four signs associated with peripheral neuropathy which is also known as cardinal neuropathy. They are polyneuropathy, mononeuropathy, mononeuritis multiplex and autonomic neuropathy. In each sign of peripheral neuropathy there is a indication regarding the level of toxicity and damage to the peripheral nervous system. Symptomatic treatment is provided to the patient for immediate relief.

  1. A patient has been diagnosed with genital herpes. What must she be taught regarding use of antiviral drugs and ways to avoid spreading the virus? She is taking famciclovir.

Ans:- Herpes Genitalis is a sexually transmitted disease which is caused by infection of herpes simplex virus. Treatment of Herpes is a combination of antiviral and antiretroviral drugs. Famiciclovir is a orally administered drug which needs to be given twice a day for day as a bolus dose. Allergic reaction is a possibility with using ointment form antiviral drugs and she should maintain a very hygienic environment around her genitalia. Her clothes, medications and personal items should not be touched or used by anyone else and toilet should not shared by any other person. To avoid spreading a person should be highly concerned of the possible way of transmission of virus like bodily fluids and keep a strict vigil on isolating all products used by the patient (Maehle, 2002). It is also recommended by the physicians that during infection period any type of sexual activity should be avoided and as a precaution even after treatment proper protection mechanism like condoms should be used by the patient.Order Now

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Pharma Cokinetics of Drugs Assignment Help

CASE STUDY 1

INTRODUCTION

Pharma Cokinetics of Drugs Assignment HelpThis assignment is aiming to identify and discuss pharma cokinetics of drugs given to a patient suffering from asthma, GERD and hypothyroidism. Case study is already been given, drugs given to the patient are protonix, synthroid and metaclopromide. There pharmacokinetics are as follows

  1. A What are the pharmacokinetics (precautions, adverse effects, interactions, absorption, distribution, metabolism, and excretion) and pharma codynamics of each medication? Make sure you cover all aspects of these items for ALL drugs
  2. Protonix:- protonix is a proton pump inhibitor which is used to inhibit gastric juice secretion. Its common side effects include nausea, headache, abdominal pain and flatulence. In rare case there are some serious side effects like thrombocytopenia. Pantoprazole is the primary parent drug and it is absorbed through stomach and small intestine. It is metabolised in liver and its bioavailability after first pass metabolism is approximately 77 percent. Metabolization of this drug is done through cytochrome p 450 system. Methylation and sulfation of the drug is done in liver to metabolise it. In terms of distribution it is bonded with albumin protein with 98 percent affinity. Its primary excretion is from renal system which is 71 percent while fecal accounts for 18 percent of the excretion. Its elimination half life is approximately one hour for adults and drug is given precautionary to patients suffering from muscular disorder or acute nephritis. There is no significant interaction of the drug (Bullock, Manias, & Galbraith, 2007)
  3. synthroid is another drug given to the patient to manage thyroid level. It is a synthetic thyroid Hormone replacement. It is given to patients suffering from hypothyroidism. Its dosage should be calculated very carefully as slight overdose can lead to adverse effects like insomnia, weight loss, confusions, anxiousness, in severe dosages it can induce heart failure or coma followed by death.

Calcium and iron supplements are the primary chemicals which interact with the absorption of this drug. There are many micro nutrients which can interact with the drug like manganese, aluminium etc so drugs containing these elements should be avoided. It can be given both orally and IV form and its bioavailability is 100 percent. Secondly its metabolism is primarily done in liver but there are some percentage of drugs which is metabolised in kidney, muscles and even brain. Half life period of synthetic thyroxin given for hypothyroidism is approximately 9-10 days. Distribution of drug is through protein binding and its excretion is mainly from urine and faeces. Patient suffering from hypertension, cardiac disorders, kidney failure and mental disorders should be given this drug with precaution (Sneader, 2005).

  1. Metaclopromide:- metaclopromide is a anti emetic drug given to the patient to manage nausea and vomiting sensation. This drug acts on the brain Centre of nausea and vomiting present in the medulla oblongata and suppress the Centre. Since patient is suffering GERD this drug will be the primary drug to manage symptoms of disease. Common side effects include hypertension, glactorrohea etc. it can be given both orally as well as IV, its bioavailability is 80 percent in human body through oral route. Its excretion is through renal route 70-85 percent and 2 percent from faecal. It interacts with dopamine and it might induce lactation so its given with precaution to young mothers (Cooke and Mehra, 1994).
  2. B How will the side effects of each medication listed influence your physical assessment of the patient?

In assessment of this patient we need to take care that dosages are calculated in a optimal manner because patient is a athletes and she cannot afford to have hypertension because of high thyroxine levels. Patient might on calcium and iron supplements as well because of her high level of physical activity and they might interact with the absorption of drugs. Patient should be given food and fluids in a controlled manner and she should be monitored for any symptoms indicating over dose or a drug interaction reaction. She also needs to avoid dehydration by participating in track meets for a few days after treatment (Nagle, 2005).

  1. C What educational information should you provide to the patient and her family about gastrointestinal and endocrine drugs?

Ans:- patient would be informed in detail about GERD and how she needs to modify her eating habits. Patient cannot afford to eat in excess at any given time; she should develop habit of eating small portions at regular intervals. Some drugs which are given to patient are endocrine in nature and they might have impact on her performance as a athletes. Half life of her dosage is 9-10 days which means she can experience symptoms even after discontinuing the treatment.

CASE STUDY 2

INTRODUCTION

Pharma Cokinetics of Drugs Assignment HelpIn this case study patient is suffering from a acute case of Myocardial infarction. Patient is a African American male of age 56 years. Patient is complaining of severe chest pain and he is admitted to the ER room and started with drugs like Nitro glycerine, morphine, heparin and albuterol.

  1. A What are the pharmacokinetics (precautions, adverse effects, interactions, absorption, distribution, metabolism, and excretion) and pharmacodynamics of each medication? Make sure you cover all aspects of these items for ALL drugs
  2. Morphine:- morphine is a highly potent opiate analgesic drug which is used to treat severe pain in patients. It can be given to various routes like inhalation, IV, IM, SC, oral, rectal etc. its bioavailability varies according to the route of administration. In case of oral route it is 20-40 percent while in case of rectal it is 35-70 percent. Adverse reaction includes constipation, addiction of the drugs, disorientation, confusion etc. in case of acute overdose it can lead to a very serious depression of heart rate and breathing Centre. Its metabolism is done primarily through liver and it is also metabolised in liver in small amount. It is distributed in the body through 30-40 percent protein binding. Its excretion is primarily through renal system and its half life period if 2-2.5 hours. It is contraindicated or given with extreme precautions in patients suffering from respiratory suppression, renal disorders, colic etc.
  3. Nitroglycerine:- Nitro glycerine belongs to a group of drugs known as Nitrates and they are used in cardiac arrests. Its primary route of administration is sublingually or IV because oral route gives a bioavailability of less than 1 percent. It is a rapidly metabolising drug and it is metabolised through hepatic route. Half life of this active drug is less than 3 minutes. Its adverse effect includes Oxidative stress and plasma volume expansion. It is excreted through renal route majorly. It is also given with caution to patient suffering from renal failure, nephritis and in pregnancy. Drug interactions are generally not seen because of different route of administration (Rang, et al. 2007).
  4. Heparin:- Heparin is a highly sulphated glycosoaminoglycan. It is used as a anticoagulant in patient suffering from cardiac thrombosis, MI, pulmonary embolism etc. this drug can be administered both orally and IV but its bioavailability is not reliable through oral route so IV is preferred. Its metabolism is done through hepatic system using Cytochrome P 450 metabolism system. Excretion of the drug is done through renal excretory system and its half life period is approximately 1.5 hours. In case of acute dosage spontaneous bleeding, thrombocytopenia is common. Asthmatic patients are given this drug with caution and it is also contraindicated in pregnant women.
  5. Albuterol:- it is a short acting beta 2 adrenergic receptor agonist. It is majorly used to relieve patients from symptoms of asthma like broncho spasm and COPD. Its route of administration is mainly inhalation and IV, in some cases it is also given orally. Half life period of drug is 1.5-2 hours and it is metabolised in liver. Its common side effects include tremors, headache, shivering, dry mouths, palpitation etc. in case of patients suffering from renal failure this drug is given with caution because it can induce hypokalemia in patient. It is excreted through urine (Craig & Stitzel, 2004).
  6. B How will the side effects of each medication listed influence your physical assessment of the patient?

Ans:- patient is suffering from MI but he also has a history of COPD since many years. Patient is highly susceptible towards the side effect of drugs like heparin and morphine. Morphine causes depression of respiratory Centre and patient is already suffering from asthma. Asthmatic drugs are given as a counter mechanism to that impact. While physically assessing the patient, it would be ensured that his vital signs are monitored round the clock and his dosage of morphine and heparin are calculated in a optimal manner (Rod, et al. 2007).

  1. C What educational information should you provide to the patient and her family about Cardiovascular AND Respiratory drugs?

Ans:- patient would be properly informed about each drug, its action and possible side effects. Patient would be specially informed about drugs like morphine which can easily cause severe side effects and become life threatening. Patient’s family would also be instructed that he should be monitored for breathlessness and other symptoms as long as he is on morphine. Similarly patient would be informed about thrombocytopenia and its impact on human body. Patient would be instructed to immediately report any signs or symptom he experiences while on medication (Maehle, 2002).

REFERENCES

Sneader, W. (2005) Drug Discovery: A History. John Wiley and Sons, 2005 ISBN 0-471-89980-1.

Rod, F.; Humphrey P., Rang, M., Dale; R. and James, M. (2007) Rang & Dale’s pharmacology. Edinburgh: Churchill Livingstone. ISBN 0-443-06911-5.

Rang, P. Dale, M. Ritter, M. and Flower, J. (2007) Pharmacology. China: Elsevier. ISBN 0-443-06911-5

Nagle, H. (2005) Pharmacology: An Introduction. Boston: McGraw Hill. ISBN 0-07-312275-0

Bullock, S, Manias, E. & Galbraith, A. (2007) Fundamentals of pharmacology, (5th ed.). Sydney, Pearson Education Australia.

Craig, C.R., & Stitzel, R.E. (Ed), (2004) Modern pharmacology with clinical applications (6th ed.). Boston: Little, Brown and Co.

Cooke, C. E.; Mehra, I. V. (1994) “Oral ondansetron for preventing nausea and vomiting”. American journal of hospital pharmacy 51 (6): 762–771. PMID 8010314.

Maehle, H.  (2002) “The emergence of the drug receptor theory”. Nat Rev Drug Discov 1 (8): 637–41. doi:10.1038/nrd875. PMID 12402503. Order Now

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Calorie Meter Assignment Help

PURPOSE

The purpose of the designed mobile application is to help people determine their calorific intake of their daily meals, thereby, keeping check on the healthiness of their nutrition. Nowadays, people are becoming more and more aware of what they eat and how their meals fit into a balanced and healthy lifestyle. Although most packaged items have calorific information mentioned on the outside of the packages, eating in restaurants or at home makes it difficult for a person to keep track of the number of calories that are taken. By using this application, users will be able to create a database of food and beverage items, along with their calorific content. In future, if they consume a meal, this application will allow them to input the respective amounts of various ingredients, and calculate the calorific value of their meals. This is a very easy to use application, and the user interface is simplistic enough to allow even the most basic Android phone users to navigate through and find its appropriate use.

FUNCTIONALITY

The application is developed for Android OS based mobile phones and can function in both vertical and horizontal screen modes. The home screen of the application presents user with two options:

1) Calorie calculation: This feature allows users to calculate the calorific values of their meals. Choosing this button leads the user to the calorie calculation screen, where users can first add the contents of their meal by clicking the ‘Add’ button, and later calculate the calorific content of their meal by clicking the ‘Calculate’ button.

Clicking the ‘Add’ button leads the user to the ‘Select Food Items’ screen. On this screen, user can select the items from the database, which are present in their meal, along with their respective quantities. Clicking the ‘Add to Meal’ button will add the chosen item, along with its quantity (in grams), to the meal. Same can be done with beverages, for which there is a separate selection underneath. Once all items, including food and beverages, are added, all selections can be seen on the ‘Calorie Calculation’ screen, which displays the contents of the meal. Clicking on ‘Calculate’ button will now calculate the total number of calories in the meal, based on the respective amounts for different food and beverage items stored in the database. This value will be displayed in the ‘Results’ screen.

2) Add new food item: This feature allows users to store the calorific values of various food and beverage items in a database of phone memory. Clicking this button will lead users to a screen where they can enter the name of the item in the ‘Name’ field, select the type of food item (eatable or drinkable) from the drop down list, and fill in the calorific value per 100 gram of the respective item. Clicking on the ‘Add’ button will automatically add this item, along with its calorific content, into the database menu, which can be later used to calculate the calorific content of a meal comprising of various amounts of different ingredients.

The navigation tree of the application is explained with the help of screenshots below:

Calorie Meter Assignment Help  Calorie Meter Assignment Help Calorie Meter Assignment Help

Calorie Meter Assignment Help

Calorie Meter Assignment Help                         Calorie Meter Assignment Help

Calorie Meter Assignment HelpCalorie Meter Assignment Help

 

SCOPE

This application particularly finds application for people who are conscious of their calorie intake, or are medically required to be monitoring the nutritious value and balance of their meals. In future, an attempt will be made to facilitate this application to connect to the internet and allow users to find the calorific value of a certain food immediately and store it in the database. Also, another shortcoming of this application is that once the food and beverage items are added to the meal on the ‘Select Food Item’ screen, they cannot be deleted or modified and the user has to go back and start the process of adding respective contents and their amount to the meal.Order Now

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Corporate Social Responsibility Assignment
Corporate Social Responsibility AssignmentIn the current environment issues linked with social responsibility and sustainability has become significant. CSR can be thought of as a management concept which integrates the above mentioned issues with an organizations business practices as it has become essential to ensure its active compliance with the ethical standards, laws, societal & governmental norms. As a Business entity, it is the University’s duty to contribute to the society & deal with the upcoming societal issues and other major concerns. This includes it steps towards protecting the nature & encourage sustainable development, add on to societal well being by contributing to education, culture etc. and must maintain transparency.

To act in public interest the university also acts in accordance with law of government.

Accountability & Transparency shall always be maintained. The “University Member” must be accountable to the university resources and should not use those for their own interest. They shall also understand that the safety of university resource is their duty & hence shall prevent any act against public interest & be transparent to university while seeking outside work. The members must also abide by the “Financial Management and Performance Standard 2009 (Old)”.

Qs.  Identify and discuss which aspects of these two documents are a response to mandatory requirements, and which aspects represent voluntary practices. Provide evidence to support your discussion.

Ans Majority of the principles which are applicable in CQ University derive their status from the standing statues or Acts which have been framed by the judiciary. The management of the university has done well to frame the policies and keep them in line with the Acts.

The policy on the Workplace Harassment (Bullying), Sexual Harassment and Unlawful discrimination is one of the most prominent among them. It is very apt to state here an extract from one of the reports of an author. It says that the organization’s climate for sexual harassment is a critical antecedent for the behavior of sexual harassment and it can be a direct factor for the negative result (Hulin, Charles L.)

This principle of the University is not on the personal initiative but has derived its powers from various acts. Some of them are:-

  1. Prevention of workplace harassment code of practice (2004) old,
  2. Disability discrimination act 1992
  • Equal opportunities for women in the workplace act 1999
  1. Fair work act 2009
  2. Racial hatred act 1995
  3. Australian Human Rights Commission act 1986

The basic objective behind these acts and the principles is demoting the Harassment work and also the discrimination at the workplace. The existence of the discrimination at the workplace can be understood from this extract. It says that it is well known fact that in America that whites earn much more than the blacks and similarly males in America earn more than the females (Blinder, Alan S). This law lays down its purpose which says that this has been done to oblige the State and Federal Laws to make the workplace safe and free from any sort of harassment. Scope wise the law is applicable on every individual who has any sort of relation with the university. The compliance part of this policy is monitored by People and Culture Directorate.

The code of conduct of the CQ University has four major policies which have been further subdivided into various sub heads. CQ University being an international university caters to the needs of the students from a wide sphere of life. This place gives a common platform to these students to exchange their opinion and their culture. Thus there will be a mix of students available who will have a different professional behavior. This policy guides the professional to be in the best of the groups so that this helps them to rise up intellectually and raise their level of knowledge as well.

Whereas some of the policies such as Respect for the dignity of the individuals, Action on the basis of the information about the environment and Upholding the interest of the masses above the individual interest are essentially derived from a statue of an act. The governing laws for these policies are:

  1. Human rights and equal opportunities commission act 1986
  2. Disability and Discrimination Act 1992
  • Sinclair Knight Merz Culture
  1. Public interest Disclosure act 2010

These acts are unilateral for all the citizen of the nation. These are imbibed in the policies of the university so as to safeguard the interest of the students, workers and managers as well as to provide a healthy environment for amicable working of all.

Question  Discuss how these two documents reflect on corporate governance and transparency at CQ University?

Corporate Social Responsibility AssignmentAnswer            Corporate Governance refers to the framework of principles, practices and processes whereby an organization is directed and controlled. They are the course of action which each member of an organization must follow in order to effectively run an organization. The organizational structure in any organization, may it be a University is in form of a pyramid. As one move up the number of people start falling and the amount of power starts increasing. The formulation of the policies starts taking place at the top most level. If we look back in time there are lot many cases like Enron which happened because there was a lack of transparency in the business and the corporate governance fell short of providing a reliable source of information for the stakeholders.

Many nations have made separate bodies which look after the corporate governance in the companies. This statutory body establishes the guiding principles which are to be abided by the companies in their day to day working and also have to publish their data regularly so that the stakeholders are informed about the working of the companies. They have laid down certain principles, which if applied in an honest manner will lead to the topmost level of transparency in the working of the university and will also lead to the sound corporate governance. The principles are as follows:-

  • Respect for integrity- every individual has a unique personality. They have unique traits and behavior. This principle says that the integrity of every individual should be respected in every way. The benefit this adds to the organization is that when an individual gets respect from the workplace, they strive to be efficient in their day to day working. They bring transparency in their working and can be delegated responsibility and can be held accountable for the negligence.
  • Be well informed- We are living in an age where lots of things are happening in our surrounding and they do affect us directly and indirectly. It becomes essential for us to be vigilant to these happenings. For a student it becomes all the more essential, as they are considered to be active of all the ages.
  • Safeguarding the public interest- at the micro level of any activity lie the interest of an individual and at the macro level lie the interest of the society at large. This principle of the university code of conduct tries to inculcate the feeling of safeguarding the interest of the masses, among the students.
  • Academic freedom- University can be regarded as a place where students of diverse background and having various academic laurels in their bag, meet. This is the place which provides a platform for the students and the members of the university to interact and exchange their ideas. This principle is framed to imbibe the spirit of respect among the students towards the academics. It is only when the students will attach importance to these, that they will pay respect to the academics.

The CQ University has laid down a strong threshold among the universities for addressing the problem of corporate governance and transparency. The policies framed by them will have a lasting effect in the minds of the students who will be the managers in the coming years. 

Conclusion:-

A writer has rightly pointed out the four approaches to motivation (Lawler III, Edward E). They are emphasized as styles of management practice. They are:-

  • paternalistic approach,
  • scientific management approach,
  • participative management, and
  • Combination approach.

The CQ University has tried to inculcate most of these approaches in its principles. As the students today are managers tomorrow, so it is pertinent to understand that what has been sown today, the fruits of the same are to be harvested tomorrow. University with this belief has tried imbibing the paternal guidance, scientific approach towards the management of the university, participation in the management with the equal hands and making a combined effort for all actions. The policies make the students transparent in their approach and also make them accountable, so that in case if anything goes wrong than the responsibility can be fixed on an individual.

The policies are pretty solid and cover every sphere of life of the students and other people associated with the university. They are expected to have far reaching effect on the individuals.

References:-

  1. Hulin, Charles L., Louise F. Fitzgerald, and Fritz Drasgow. “Organizational influences on sexual harassment.” (1996).
  2. Blinder, Alan S. “Wage discrimination: reduced form and structural estimates.”Journal of Human resources (1973): 436-455.
  3. Lawler III, Edward E. “Motivation in work organizations.” (1973).
  4. Fontaine, Charles, Antoine Haarman, and Stefan Schmid. “The Stakeholder Theory.” (2006).
  5. Paliwal, Manisha.Business Ethics. New Age International, 2007.
  6. Code of Conduct, CQ University
  7. Workplace Harassment (bullying), sexual harassment and unlawful discrimination policy, CQ university.Order Now

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Corporate Governance & Business Ethics Assignment

Executive Summary:-

Corporate Governance & Business Ethics AssignmentAt the behest this is to inform the reader that the report under the scanner is to describe and analyze the Code of Conduct of the CQ Queensland University, Australia. This document is like a sacred document for all the people associated with the University in some or the other way. The document has some principles which need to be essentially followed by every individual. We will specify the principles in a broad light, which are as follows:-

  1. Every human being has some set rules and his/her dignity intact, the dignity of each individual should be respected and should not be breached at any point of time
  2. At micro level of each activity lies the interest of the individuals, whereas at the macro level it is the interest of the masses. It is the principle to safeguard the public interest in place of the individual interest.
  3. University has a mixed group of people. The principle specifies that every individual should strive to be a part of the learned group of people.
  4. Every individual is expected to be well informed at all times of his/her surroundings. This will help the individual in a more unbiased decision making and keeping the interest of all in mind.

The first step towards a proper administration is setting up the principles, specifying the people who will fall in the purview of the same and then fixing the responsibility of the individuals with the assignment of the powers.

Introduction:

In our study the principles of the Code of Conduct of a university from Australia is being conducted. The university named as CQ University provides a wide range of courses to the students and caters to a huge number of students who belong to a diverse background. There is a mix of culture available in the university, as people of different values and belief at this place and interact in a healthy manner.

A sword is useful only when the people using it are able to extract the most out of it. Pen is often termed as mightier than sword. The Code of Conduct of the CQ University happens to oblige on all the above parameters. It has a sound proof plan to implement the policy through its members and also punish the defaulters.

Question.  Identify and discuss:

  1. The stakeholder groups affected by both of these documents, and
  2. The emerging business ethics issues that are addressed by these two documents.

Answer 1(1) Stakeholder as defined by Freeman includes “any group or individual who can affect or is affected by the achievement of the organization’s objectives (Freeman 1984)” After analyzing the two documents “CQ University’s Code of Conduct” and “Workplace Harassment (Bullying), Sexual Harassment and Unlawful Discrimination Policy” cited below is the group of stakeholders affected by both of the mentioned documents.

As given in the CQ University’s “Code of Conduct” these stakeholders are widely termed as “University Members”:-

  1. The entire University as a sole business unit.
  2. Each member of the council of CQ University.
  3. The Vice-Chancellor and the Executives of CQ University.
  4. Entire senior staff.
  5. All manager & Supervisors
  6. All Academic & Professional staff not considering their employment mode.

In certain state of affairs this gamut of “Code of Conduct” may also be applicable to the following:-

  1. All other person who are associated with the university in any form including people on contract basis.
  2. Anyone who uses the resource of the university
  3. All additional staffs
  4. All University agents who perform acting as representatives or volunteers.

As per the CQ University’s policy “workplace harassment (bullying), sexual harassment and unlawful discrimination policy” the entire gamut of stakeholders group includes any staff, visitor, or person on contract basis who are involved in activities related to the university whether inside the university campus or outside the university.

Answer  “Ethics is the branch of philosophy which is the systematic study of selective choice, of the standards of right and wrong and by which it may ultimately be directed.” (Philip Wheel Wright)

John Donaldson described Business Ethics as the study of moral affairs which pertains to a business organization or any activities & beliefs related to it. Business Ethics means methodical management of “Values” in an organization.

Corporate Governance & Business Ethics AssignmentThe CQ University’s “Code of Conduct” has laid down certain principles which come under the Business Ethics. Discussed below are the emerging Business Ethics issues eying on the contemporary global scenario.

  1. Respect the inherent dignity of the individual – Each individual has certain values, beliefs, customs & traditions which are an integral part of their lives therefore the CQ University’s Code lay down that each “University Member” ought to respect the dignity of other individual. Practicing this in their daily routine will bring parity in the University.
  • To be a composed listener shall be each person(s) conduct in their day today activity. They must correspond to what other is saying & shall respond them aptly. The “Code of Conduct” has also given certain examples in order to make the Code easy to follow for the “University Members”. It was given that an enquiry comes to the University Member about the enrollment Procedure, the University Member ensures that they give a precise & comprehensive response to the student.
  • The University Members ought to take care that no such action takes place which relates any kind of “Harassment, Sexual Harassment or Workplace Bullying” e. Misconduct which tends to disgrace other person, malicious treatment, act which is sexually abusive, coercive measures towards subordinate etc shall be strictly avoided.
  • The Code enlightens that it is the responsibility of each “University Member” to take appropriate care of the University’s environment. As per the legislation “(Workplace Health and Safety Act 1995)”, they must ensure safe working conditions & processes, & must also inform others about it. They shall not harm themselves or others, usage of Alcohol or other such drug is stringently prohibited in the University.
  1. Act on the basis of a well informed conscience – Conscience refers to ones ethical principles. The code here implies that a “University Member” must act on the basis of relevant information. They shall be aware of what is going on around them, understand the circumstances & shall be farsighted to think about possible outcomes. They shall be very careful when exposing themselves publicly, no such statement shall be quipped in Media which is against the University or bears negative element. Keeping in mind the current global scenario the University also lay down “Codes of conduct” for Professional Practices. Any professional be it a doctor, nurse, engineer, accountant shall be harmonious with their profession, illegal practices shall be brought to University’s notice.
  2. Participate as part of a community of scholars – University play a major role in contributing to our society. Keeping this in mind the University encourages Researches & Inventions. Any for this it provides in the code that there shall be unconventional interchange of ideas & thought process that relate to academics. University severely opposes “hate speech”, which means no such statement shall be given which disrespects any society, community or culture etc. The “University Member” is also expected to act honestly while delivering knowledge to the students & shall not consider any monetary gain or personal interest.
  3. Uphold the public interest –The other most important Business ethics that shall be abided in today’s global environment is to uphold the interest of the public. Being legal organization formed by an “enactment of the Queensland Parliament” & also an establishment which receive public funds, the University abides by the norms laid down by “Public Sector Ethics Act 1994 (Old)”. This act has given certain principles which are the basics for an excellent public administration.

Integrity & Impartiality – The “University Members” must be upright in their conduct, they should not engage in any activity which seeks them undue monetary gains or either work in their own interest. Since university being an establishment which runs on public funding, hence each one must strive to gain public confidence for the university as a whole & not individually for them.  They shall not be partial towards one party; “nepotism” shall strictly be avoided.  Any act creating Conflict of Interest should also be avoided. It is the wholesome duty of each “University Member” to Maintain Confidentiality, any information which confidential should never be disclosed without University’s consent; hence personal gains should be avoided. Biasness & favoritism are the evils which are endangering the whole society globally hence University lays down the code to maintain transparency & to act in public interest, Making fair decision is the foremost duty of any corporate. The recruitment process takes place in every organization likewise in the University also it takes place, the principle is laid down in the code that each member must display a behavior which is free from nepotism & patronage. Any unnoticed monetary gain acts against public good hence these evil practices shall be severely curtailed in our society this helps in reducing any kind of inducement in the society.Order Now

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Principles of Bayesian Inference AssignmentPrinciples of Bayesian Inference Assignment

Bayesian inference is based on the some key principles. These principles can be represented in the form of the following elements (Roberts, 2007):

  1. p(Θ) which is a set of prior distributions for parameter set Θ, in this set for quantification of uncertainty about Θ probability is used as a means. This is done before data is considered.
  2. p (y|Θ) is called as likelihood or likelihood function, in this component a full probability model is used to related all variables with each other.
  3. p(Θ|y) is a component which is called as joint  posterior  This component is used to define and communication uncertainty about parameter set Θ, this is done before the prior information as well as data to be analyzed is taken into consideration. In case when parameter set Θ is sub divided into a parameter of interest φ and nuisance parameters, in such case marginal posterior distribution is  p(φ|y)

PRIOR DISTRIBUTIONS

A prior can be explained as a prior probability distribution which is commonly called as prior only is present in Bayesian inference, this prior is generally of an uncertain parameter θ or it can be a latent variable which is a type of a probability distribution which is used to determine uncertainty about θ before the data are analyzed (Berger, 2006)

Parameters which are generally used for a prior distribution are also known as hyperparameters, they are called hyper parameters to differentiate them from parameters (Θ) of the model. While practically applying Bayes’ theorem prior is used as a multiplication factor by likelihood function and then it is used to normalize the posterior probability distribution.

Conventionally Prior probability distributions belong to either informative prior category or uninformative prior category.  However technically there are four different categories of priors namely informative, weakly informative, least informative, and uninformative.

Informative Priors

This is the category applicable when prior information is available about θ; it is well included in the prior distribution of θ. As a example we can consider that if any present model form is similar to a previous model form, and ultimate intention is to update the present model using more newly acquired data then in that case a posterior distribution of θ available from the previous model is suitable to be used as a prior distribution of θ for current model.

Using this mechanism each model which is not starting from zero is not based on the newly acquired data but they are based on the collective impact of all type data whether present or past. Ibrahim and Chen, (2000) introduced the power prior as a measure so that past data does not overpower the current data.  It is a all together different class of informative prior which is applicable in doing analysis where previous data and results obtained from those data are incorporated. If the present data and past data have a significant level of differences then the prior distribution will keep posterior distribution of θ in the tails. This is done to create less density in its tails. Occasionally informative type of prior is not in the right format to be used, for example if informative prior is hidden in another person or a expert, then in such cases personal belief, in such situations personal beliefs of the expert are also required to be considered. This is known as prior elicitation.

Weakly Informative Priors

Weakly Informative Prior, also known by the acronym WIP, mainly uses the prior information to regularize and stabilize the distribution. Through this process they provide enough prior information which can stop the results which have the ability to conflict with knowledge or problems like development of a algorithmic failure.  Another objective of a WIP is use a lesser amount of prior than what actually is available. WIPs are the highly used priors in practical research methods, and they are generally preferred by Bayesians.

Selection of WIP is not a easy thing to do, their distribution is complex in nature and it can easily change the sample size, since it is required that a model should acquire sufficient prior information to make something meaningful from the data then the prior information should also be weak. For example it is a preferred practice that in case of continuous predictor, they are centered and scaled (Gelman, 2008). It is obvious here that for a centered and scaled predictor potential range of the posterior distribution of θ has to be lesser. θ ∼ N (0, 10000) is generally a preferred WIP here.

In case if θ is normally-distributed then as per the mean of 0 along with a variance  of 10,000, which can be equal to a standard deviation  of 100, or precision of 1.0E-4.  In such cases the density for θ is close to zero. However the catch here is the fact that density is not exactly flat or zero and this aspect provides a better properties for numerical approximation algorithms. A numerical approximation algorithm is a phenomenon which can be observed in both Bayesian and frequentist inference and in both analysis it is closer to the flat density area. Generally a frequentist inference gets stuck in the flat density region more often than Bayesian analysis.  In case when Prior distributions are not exactly flat but they are closer to flat, sufficient information and data is provided for numerical approximation algorithm to continue to analyze and the target density as well as posterior distribution.

Every time a model is updated in which a WIP is present it is important that user should analyze the posterior and check is any of the posterior is contradicting with the existing knowledge. If they are contradicting then WIP is not correct and it needs to be revised by adding information which will make the posterior consistent with knowledge (Gelman, 2008).

Least Informative Priors

LIP is the term used for ‘Least Informative Priors’, they are used to provide information about a class of prior with objective to minimize the level of subjectivity in the informational content. Logic behind using a LIP is the fact that data which is present with the LIP is itself an indicator of the type of subjectivity and level of subjectivity. LIPs are generally preferred by Bayesians analysis which is objective in nature.

Uninformative Priors

Earlier the uninformative priors were known by various different terminologies like vague, reference, weak information, minimal, etc. any information in one of the above forms became a part of the Uninformative Priors. However it was found that each prior gives information in one way or the other and there is nothing called as Uninformative Priors.

Principles of Bayesian Inference AssignmentProper and Improper Priors

It is very important that the prior distribution is proper as there are certain problems related to improper distribution. One of the problems is that if the prior distribution is improper then even the posterior distribution would be affected by it.  Further because of this Bayers Factors become invalid due to wrong and non-integrable references, that are a result of the wrong posterior distribution. Thus is it always advisable not to use improper prior distributions. Condition for prior distribution going improper is:

p(θ) ∝ 1, for −∞ < θ < ∞

CONCLUSION

There are a number of advantages of the Bayesian inference over frequentist inference, some of which are listed here:

  • The results and finding of an old model can be used for the on-going model in case of a Bayesian Inference. This is because the Bayesian inference uses informative priors.
  • Frequentist inference does not use prior distributions at all and thus can get stuck in cases where model identification is required. However on the other hand, as Bayesian inference uses prior distributions and can change its algorithm, it helps in model identification.
  • The Bayesian Inference gives better results because it helps in answering the right question in the right way. The Bayesian answers are based on what is detected rather than estimating results on the basis of unrealistic samples and estimators. The Frequentist inference takes the unidentified parameters as fixed and the given data as a variable rather than taking variable parameters and a static data for calculation. This leads to inaccurate results in comparison to the Bayesian inference.
  • The Bayesian inference gives the estimation results from the full probability model. On the other hand, the probability distribution of frequentist related to any hypotheses.
  • The estimation of data in frequentist inference is like:

p(data|hypothesis)

Whereas in Bayesian inference it is like:

p(hypothesis|data).

As the formula shows, the Bayesian Supposition is more correct as it leads to testing of hypothesis basis that data is given. On the other hand, frequentist supposition formula represents testing of data given a particular hypothesis.

  • The Bayesian Supposition results are based on postulation theory and thus can be used in calculation of frequentis, but the vice versa is not true.
  • The Bayesian Inference gives more appropriate results as it actually helps in taking decisions, which proves very helpful to the management.
  • The results of Bayesian inference are more accurate as it is takes the uncertainties of the probability model as well into consideration. Frequentist inference, on the other hand, gives less accurate results as it doesn’t take the uncertainties into account.
  • The Bayesian Supposition is based on the concept that any theory cannot be built merely on experiments and needs information and knowledgeable data from the past researches as well. This is known as epistemology.
  • One of the features that are present in the Bayesian inference is the ability to equate various models, which is not present in the frequentist. The use of DIC makes this comparison possible in Bayesian inference.
  • As Bayesian inference works by integrating the parameters of model, it saves the data from over fitting, which is a major problem in frequentist inference.
  • The Bayesian Supposition results are more accurate as they are based on observed data. On the other hand the Frequentist inference results are not that accurate as they are based on suppositional data.
  • The basic interval models used in Bayesian inference and Frequentist inference differs totally. In case of Frequentist inference, confidence intervals are used. The solution of θ being in a particular region in a confidence interval is given either as 1 or as 0. However the exact answer can never be estimated in frequentist. In case of Bayesian inference, the interval model used is probability interval which gives the position of θ more accurately as compared to that in confidence intervals.
  • The Frequentist inference doesn’t allow a large width of the sample size. It creates problems in accepting small samples. In case the sample size is very big, Frequentist inference might incorrectly accept the unimportant effects as significant. However Bayesian inference accepts a large width of the sample size.
  • When valid priors are used for Bayesian inference, it is not affected by singularities that are common in matrix inversion. Frequentist inference on the other hand cannot do this as its working is not based on use of priors.

REFERENCES

Bayes, T. & Price, R., 1763. An Essay Towards Solving a Problem in the Doctrine of Chances. Philosophical Transactions of the Royal Society of London, Volume 53, pp. 370-418.

Berger, J., 2006. The Case for Objective Bayesian Analysis. Bayesian Analysis, 1(3), pp. 385-402.

Gelman, A., 2008. Scaling Regression Inputs by Dividing by Two Standard Deviations. Statistics in Medicine, Volume 27, pp. 2865-2873.

Goldstein, M., 2006. Subjective Bayesian Analysis: Principles and Practice. Bayesian Analysis, 1(3), pp. 403-420.

Ibrahim, J. & Chen, M., 2000. Power Prior Distributions for Regression Models. Statistical Science, Volume 15, pp. 46-60.

Roberts, C., 2007. The Bayesian Choice. 2nd ed. Paris: Springer. Order Now

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Bayes’ Theorem Assignment Help

 Bayes’ Theorem Assignment HelpThe concept of probabilistic distribution in statistical inference can be applied by the help of two different approaches. These are Bayesian approach and the Frequentist approach. The very concept of probability these inference methods are build on is different in both of them respectively. The frequentist approach involves definition of probability as a limiting measure of the number of times an event occurs relatively, given that the number of trials is large, and the experimental samples are random and well defined. In the Bayesian inference approach, on the other hand, it is possible to assign a probability to any event, even if the experiment is not random and well defined. In simpler terms, it can be said that the Bayesian inference approach translates an individual’s degree of belief in an outcome to a statement.

Even when it comes to the Bayesian inference approach, there are two different definitions of probability that are widely and most commonly used. One is the objective Bayesian approach (Berger, 2006), and the other is the subjective Bayesian approach (Goldstein, 2006).

The Bayes’ Theorem, also known as the Bayes’ law or Bayes’ rule, is named after Reverend Thomas Bayes (1702-1761), and describes a relation between two conditional probabilities that are the opposite of each other (Bayes & Price, 1763). Bayes’ theorem expresses the conditional  probability,  or ‘posterior  probability’,  of an event  A after  B  is observed  in terms of the ‘prior probability’ of A, prior  probability of B, and  the  conditional probability of B given A.  Bayes’ theorem is valid in all common interpretations of probability.  The two (related) examples below should be sufficient to introduce Bayes’ theorem.

Example 1

Bayes’ theorem provides an expression for the conditional probability of A given B, which is equal to

Equation 1

For example, let us consider the question and ask an individual about the chances that he will end up in Hell, based on the condition that the person consorts with the Satan. By replacing A with Hell and B with Consort, the question becomes

Note  that a  common  fallacy  is to assume  that Pr(A|B)  = Pr(B|A),  which  is called  the conditional probability fallacy.

Example 2

Another way to state Bayes’ theorem is

Equation 2

Taking at a look at the original question again and replacing Ai with Hell or Heaven, and replacing B with Consort, we have:

  • Pr(A1) = Pr(Hell)
  • Pr(A2) = Pr(Heaven)
  • Pr(B) = Pr(Consort)
  • Pr(A1|B) = Pr(Hell|Consort)
  • Pr(A2|B) = Pr(Heaven|Consort)
  • Pr(B|A1) = Pr(Consort|Hell)
  • Pr(B|A2) = Pr(Consort|Heaven)

If we assume that the Satan had a random sample data for this case, and gladly provided it, we can state that

  • 6 people consorted out of 9 who went to Hell.
  • 5 people consorted out of 7 who went to Heaven.
  • 75% of the population goes to Hell.
  • 25% of the population goes to Heaven.

Now, let us allow the Bayes’ theorem to this data. We can calculate the following four conditions:

  • Pr(Consort|Hell) = 6/9 = 0.666
  • Pr(Consort|Heaven) = 5/7 = 0.714
  • Pr(Hell) = 0.75
  • Pr(Heaven) = 0.25

Eventually, the desired conditional probability Pr(Hell|Consort) can be calculated using Bayes’ theorem to give a value 0.737.

The probability of someone consorting with the Satan and going to Hell is 73.7%, which is less than the prevalence of 75% in the population. According to these findings, consorting with the Satan does not increase the probability of going to Hell.

BAYESIAN INFERENCE

 Bayes’ Theorem Assignment HelpThe basis for Bayesian inference is derived from Bayes’ theorem.  Here is Bayes’ theorem, equation 1, again

Replacing B with observations y, A with parameter set Θ, and probabilities Pr with densities p (or sometimes π or function f), results in the following

where p(y)  will be discussed  below, p(Θ)  is the set  of prior  distributions of parameter set Θ before y is observed,  p(y|Θ) is the likelihood of y under  a model, and  p(Θ|y) is the joint posterior  distribution,  sometimes  called the full posterior  distribution,  of parameter set  Θ that expresses uncertainty about parameter set Θ after taking both  the  prior  and  data  into account.  Since there are usually multiple parameters, Θ represents a set of j parameters, and may be considered hereafter in this article as Θ = θ1, …, θj

The denominator

defines the “marginal likelihood” of y, or the “prior predictive distribution” of y, and may be set to an unknown constant c.   The prior predictive distribution4   indicates what y should look like, given the model, before y has been observed.  Only the set of prior probabilities and the model’s likelihood function are used for the marginal likelihood of y.  The presence of the marginal likelihood of y normalizes the joint posterior distribution, p(Θ|y), ensuring it is a proper distribution and integrates to one.

By replacing p(y) with c, which is short for a ‘constant of proportionality’, the model-based formulation of Bayes’ theorem becomes

By removing c from the equation, the relationship changes from ’equals’ (=) to ’proportional to’ (∝)

Equation 3

This form can be stated as the unnormalized joint posterior being proportional to the likelihood times the prior.  However, the goal in model-based Bayesian inference is usually not to summarize the unnormalized joint posterior distribution, but to summarize the marginal distributions of the parameters. The full parameter set Θ can typically be partitioned into

Θ = {Φ, Λ}

where  Φ is the sub-vector  of interest,  and  Λ is the complementary  sub-vector  of Θ,  often referred  to as a vector  of nuisance  parameters.  In a Bayesian framework, the presence of nuisance parameters does not pose any formal, theoretical problems.  A nuisance parameter is a parameter that exists in the joint posterior distribution of a model, though it is not a parameter of interest.  The marginal posterior distribution of φ, the parameter of interest, can simply be written as

In model-based Bayesian inference, Bayes’ theorem is used to estimate the unnormalized joint posterior distribution, and finally the user can assess and make inferences from the marginal posterior distributions.Order Now

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STRUCTURED EXTERNAL ASSIGNMENT SEC 6010
Every organization is faced with some kind of risk or threat that could cause an interruption to the organization’s operations. These risks and threats can be internal or external. To prepare for these events, organizations must focus their attention on how to assess different types of risks to protect the organization from the possible negative effects.  Performing a risk assessment is one of the most important steps in the risk management process.

A Risk Assessment is periodic assessment of the risk and magnitude of the harm that could result from the unauthorized access, use, disclosure, disruption, modification, or destruction of information and information systems that support the operations and assets of the organization.  Many organizations perform risk assessments to measure the amount of risks that could affect their organization, and identify ways to minimize these risks before a major disaster occurs.

In this paper the student must identify the risks and potential effects associated with the areas of the organization pertaining to security and disaster recovery.

Please be sure to include the following:

  • Introduction of the organization
  • Overview of the IT department and personnel
  • Discuss the occurrence or breach or disaster that has happened.
  • Perform a risk assessment and threat identification section for the organization that you have chosen, as outlined in CHAPTER 2, 7, 8, and 9 in RISK ANAYSIS AND THE SECURITY SURVEY. This section should point out the organizations weaknesses or vulnerabilities.  This will be your hypothesis as to why the breach or disaster has occurred.
  • Create a response plan as identified in Chapter 14 of RISK ANAYSIS AND THE SECURITY SURVEY.
  • Be detailed in your response plan as this will be the most critical part of your paper. You can create your own response plan even if the organization has its own plan. This plan will be in direct response to remedying the issues that were caused by the breach or disaster.

Structure:

  • No less than 7 pages
  • Must be your own work not a group activity
  • No plagiarism
  • APA format
  • Master’s level work expected
  • Correct punctuation, spelling, and grammar are essential.
  • Must have a cover page with course name, student’s name, date, and title of paper.
  • Pages must be numbers.

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Neutral Observer Story Assignment Help

What Happened? I was walking to my office from the car parking at 10am on Monday when I noticed disorder in the staff office. Darmian and Pereira were shouting at each other while standing and they looked visibly upset. They saw me through the window and stopped arguing then sat down. I proceeded to my office without a word.What are my emotions? I wondered why Darmian and Pereira were in the staff office in the first place. They worked in the workshop and it was working time. I was disappointed with them because they were not working when they were supposed to be. I was also disappointed with the staff officer, Eva, because she let them argue in her office. Two departments of my company, the staff office and the workshop, were at a standstill so valuable working time was being wasted.Impact on my image? I noticed other employees watching me as I walked to my office after I saw the incident. I then knew that the issue would be followed closely by them to see how I dealt with the issue, which was clearly compromising work. Thankfully, there were no customers or visitors to the company therefore I was sure it would remain an internal matter. The external image was unlikely to be affected.Do I seek a win/win outcome? Darmian and Pereira are one of the best workers in the workshop while Eva managed staff affairs effectively so my intention was to keep them in the company. However, they were costing the company money by not working when they were supposed to be. Therefore, I also wanted to find a solution to ensure employee conflicts did not occur anymore and that working time was optimised on.
Neutral Observer Story:Me: Eva, you have a minute?Eva: Sure, boss.Me: I noticed this morning that there was an argument in your office, what was the problem?Eva: Darmian and Pereira were arguing over overtime pay.Me: But you are in charge of overtime pay, right?Eva: Yes I am.Me: Come to my office with the two of them at 2pm, okay?Eva: Yes boss.
Is it safe? Eva looked nervous when I said that I wanted to talk to the three of them. This made me think that maybe she was in the wrong. However, I wanted to be fair in solving the issue therefore I decided that I would listen to everyone’s side of the story.What’s their story? Tell your story:Me: Hello, please sit.Eva, Darmian and Pereira: Thank you.Me: I saw arguing in Eva’s office in the morning, and I am sure you saw me too. So what was the issue? Pereira you go first.Pereira: Last week I worked more hours than Darmian. We left work at the same time except on Thursday, when I worked an extra two hours. However, I am disappointed because he received more overtime pay than me.Me: How do you know this?Pereira: I sneaked into Eva’s office and checked the overtime records. The records showed that Darmian worked two more hours each day than I did, which is not true. I went to confront Eva and Darmian found me complaining and defended her so we started arguing.Eva: Pereira wanted to be awarded extra pay for hours he did not work or threatened to report the issue to you. That is blackmail, boss.Me: Eva, your time to talk will come. Darmian, did you get more overtime pay than you deserved?Darmian: Yes I did.Me: Eva, explain why that happened.Eva: Darmian approached me last week but one and suggested I could award him extra overtime pay then share it between us. I stupidly agreed and that’s why we are here.Darmian: I am sorry boss. That was greedy of me. It won’t happen again.Me: Thank you for your honesty. You were stealing from the company which is a vice that could make you lose your job. I am very disappointed with you.Co-create Options:Eva: Boss, I promise that this will not happen again. I am very sorry.Me: A promise is no guarantee, what do you suggest should be done to make sure this never happens again, ever?Eva: Firstly, I am willing to accept a penalty for what I did. I suggest a week’s wages would be acceptable. Secondly, I suggest that the overtime hours records may be computerised.Darmian: I am also willing to accept the penalty Eva suggested, just let me keep my job.Me: Pereira, any suggestions?Pereira: Yes boss. I think it would be fine if the gatemen kept records of when staff arrived and when they left.Me: I don’t think that’s a good option, thanks anyway. I suggest that we introduce electronic cards which you will swap in a machine as you enter the workshop and as you leave. The machine will be computerised and will keep record of each workers entrance and exit time. That solves the records problem. The company money lost will be recovered from your two weeks wages, Darmian and Eva. Any objection?Eva: No Sir.Me: May this also serve as a warning to you all. This kind of behaviour will not be accepted here. You are lucky to keep your jobs.Eva: Thank you boss.Pick the best option:Me: An electronic recording system will be introduced to keep records of working hours. Each employee will be issued with a unique electronic card. This would ensure that employees would only be paid for work they did and that the company would not lose money through employee dishonesty. A two week wages fine was given to Darmian and Eva to serve as a warning to all employees and to recover company money that they stole. On the argument issue, I want all complaints from this day to be brought to me or a suggestion box which I will attend to personally on a daily basis. Let’s put this issue behind us and work together to move this company forward.Follow-up:Each employee was assigned with an identification number which was then used in the electronic cards. In two weeks, the cards were processed and issued to each employee. Company income improved by 8% in a month.Through the suggestion box, I got to receive and attend to various employee complaints, for instance, I installed fans in the workshop after an employee suggested that it sometimes got too hot.
Improved Relationship:I noticed better relations between co-workers. They looked happy and chatty when on breaks and as they left in the evening. Relations with my employees also improved and most of them began talking to me when they had issues. The company became a happy working place.I was happy as a manager to have come out of the issue with only positives for everyone; the employees, myself and most importantly the company.

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Porter Competitive Force Model Assignment

Porter’s competitive forces analyze the several external force analyses present in environment which decide impact of all the available forces:

  • Bargaining power of supplier: Supplier in the present business concept are the partners for the company with which company share the resource, book supplier and other information source suppliers etc. The bargaining power of supplier in this industry is very low as alternate source of supply is available and no supplier has some competitive advantage which is impossible to imitate.
  • Bargaining power of customer: Customer posses very low bargaining power as customers are not having many options available in terms of the online libraries as this is quiet a unique concept. Hence at such lower annual subscription fee customers are getting very good value and looking at the same bargaining power for customers would be low.
  • Competitive rivalry in industry: Competitive rivalry is very low in the industry as there are very less market players who are involved into such services for renting the books and other available resources.
  • Threat of new entrant: Entry of new market entrant may depend upon the success of present business model as it is quiet new in the market. Due to low market barriers in this industry there are chances that new market players may enter into market and there are chances that book store and shopping malls may get into forward integration to provide such services.
  • Threat of substitute products: There are no direct substitutes for such services but other book sellers and service providers may offer some possible threat to business for substitute products.

Porter Competitive Force Model AssignmentHence overall market force in the industry is quiet low and force offered by elibrary@ease.com is on higher scale due to innovation concept and kind of value proposition offered by the company for its users. It refers that business concept evolved for the present business is having strong force and offer competitive advantage in the market over its competitors.

Strategic goal and objective through ecommerce website

There are several strategic goals which needs to be accomplished with the help of ecommerce setup proposed which can be given as below:

  • To offer users ease of use through online presence and build sustainable competitive advantage
  • To manage the whole service setup with high efficiency as online presence would save high amount of cost in terms of manpower and setup cost
  • To develop revenue and cost sharing model where in strategic relationship can be developed which is imitable
  • To manage a large number of paid user base for the company so as to earn high annual subscription income which is the major income source for the company
  • To link vast amount of resources which can’t be gathered due to physical availability constraints to provide user a large knowledge database

Stakeholder analysis and fit with the ecommerce website

The key stakeholders involved in the present ecommerce business include users availing the library services, management of the organisation, partners into ecommerce business such as the shopping malls, book store and suppliers of the company. Each stakeholder has their unique expectation through ecommerce website and company needs to strike a balance in order to give a fit between their expectation and strategic goals decided by the organization. Users of the present business would be expecting a cost effective service which would give access to as many as possible resource located near to their location.

Ecommerce business developed would be based on the resource sharing which would allow them to operate cost efficiently and same cost efficiencies would be passed on to customers as nominal annual library fee would be charged to them. Further linking several databases with each other would allow users to access as much as possible resource at one time. Expectation for the partners would be to involve into revenue sharing programme of the company and to get good return on their investment made for starting the library services. Company would involve partners into revenue sharing model and fee received as well as revenue through sales of book would be shared between shopping mall and company. Suppliers of the present ecommerce business would be expecting a strong growth into business so that they can get good business through the ecommerce site. The acceptance of present business concept by user would allow expansion of the present concept into several other geographical locations. This would allow suppliers to offer higher revenues through the ecommerce business.

Management of the company would be the key stakeholder and can be classified as internal stakeholder in the company. The expectation for the management would be to achieve strategic goals of the company and enhance their shareholders value which would be based on the success of present business concept.

E-commerce business model

Identification of business model for any ecommerce website depends on several factors such as the pricing model adopted, marketing strategy adopted, value proposition for its customers and market expansion strategy. Value proposition offered by “elibrary@ease.com” is unique in the sense that it has got only online presence and provides ease of use to its users.

Revenue mode adopted by the company is two folds i.e. it charges a flat annual subscription fee from the users and based on the book loan availed by the customers additional charges are levied to the member account which are pay per usage kind of revenue model. Further cost and revenue sharing is done between company and its strategic partners. Company would initially start with one or two prime locations in UK and based on the success other markets would be captured for further business.

Potential risk associated with present ecommerce

Some of the potential risk associated with present business model can be outlined as given as below:

  • Customer reach for the present business would be limited in nature as users which are located near to specific shopping mall and book store can avail the facilities for the library
  • There can be several issues related to the strategic partners such as the shopping malls and book stores due to the data management and inventory storage etc.
  • Revenue sharing model used in the present ecommerce business may not work well for the strategic partners
  • There can be issues pertaining to copyright and other for the several knowledge resource shared in discussion forums.Order Now

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This is a ABAQUS Assignment Help in which we discuss maths equation.

The answers to the questions, calculations, assumptions, tables, figures and other discussion must be included in a word document (a hard copy). The ABAQUS .CAE, .ODB, .log, .DAT files must be saved into a CD.

Theory

The presence of sharp corners, notches, or cracks introduces stress concentrations.  For instance, using elasticity theory, the stress distributions around a central hole in an infinite plate(Fig. 1) can be estimated from the following equation.
ABAQUS Assignment Help
ABAQUS Assignment Help
ABAQUS Assignment Help

 

 

 

 

 

 

 

 

(s – remote stress, a – radius of the hole, q – angle (anti-clockwise) from x axis, r – distance from the centre of the hole)
(sxxalong the y axis may be obtained by sqq(r,q) at q=90and sxxalong the x axis may be obtainedby srr(r,q) at q = 0)
Assignment:

  1. Plot the stress concentration of sxx along the x axis and the y axis calculated by using the above theoretical formulae. The thin plate has the dimensions 40 x 20 x 2.5 mm with a central hole of diameter 4 mm and the applied uniaxial tensile stress (i.e. remote stress along the x axis) is 50 MPa.
  1. Model the same problem using an ABAQUS/Standard FE analysis. (Material properties; Young’s modules = 200 GPa, Poisson’s ratio= 0.2, and Yield stress = 350 MPa)
  1. Compare the results obtained from the FE model with your answer for Q.1 (you need to use the same graph for this)
  1. Compare the maximum stress concentration obtained from the FE model with the theoretical value obtained in Q1. Explain the reasons if the result from the FE model is not exactly the same as that predicted by the analytical model.
  1. Calculate the maximum stress concentration (Kt) using Howland’s method

(a – radius of the hole, w – half width of the plate)
Compare Kt predicted in Q.5 with the maximum stress concentration (Kt) in Q.1 and also with that predicted by the FE model.  If the Ktpredicted by the FE model compares well with Ktfrom Q.5 than that in Q.1 explain the reason for it.

  1. Repeat the FE analysis if the applied remote stress is 200 MPa. What are the changes you wish to make in your FE model over the model used in Q.2.  Show your results from an appropriateFE model.Order Now

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Develop and use Emotional Intelligence Assignment

Develop and use Emotional Intelligence AssignmentIntroduction

I am the HR manager of KGN enterprises limited and one of my employees, named Anton is facing problems in my work place. Anton is my new employee who has joined my company 3 months ago. The main reason of the problems he is facing is that he has a different cultural background. His English accent is very strong and he is highly competent for this job role. However, he is facing difficulty while conversing with the other members of my organization. He feels embarrassed when his other co-workers are unable to understand him. He feels that he is being abused and thus raises his voice. Naturally, his peers get angry and they avoid him. In this report, I am going to provide few ways of conducting a mentoring plan for Anton.
Assisting Anton to respond to the emotional state of the co-workers
Anton must be helped to realise the emotional expression of his group members. The process of collaborationcould help him to form a strong connection with his co-workers and learn from them. He must sit with them and affirm their emotion without necessarily agreeing their point. However, this does not mean that he will suppress his own feelings and readily accept others emotions rejecting his own. Anton must confess to his members that he feels uncomfortable with the conduct of his co-workers. However, it is to be done in a polite manner and not by becoming loud which Anton generally does. Anton must communicate with his co-workers and listen to what they need (Chernissand Goleman, 2001, p.199).

Identifying the unique cultural expression

People of different culture have different modes of expression. An individual must be socialized enough, in order to identify the expressions of other cultures. Though Anton’s English accent is very strong his co-workers are unable to understand him properly. He is teased in a good-natured way, but he is unable to realise this is the way his group members usually interact with each other. For Anton it is important to come out of his own cultural circle and acknowledge the mode of interactions of his group members as their cultural way of expression. Anton must try to shorten the gap created by the difference in cultures. It is only through proper mode of communication that Anton can dissolve all the cultural barriers (Refer to appendix 1 for difference in cultural policies).

Selected work to overcome language and cultural issues

Dealing with language barrier is tough. To deal with this issue Anton may translate all relevant documents into primary language of the employees. Various websites are available for the translation of one text to the other. Using an interpreter may also solve the problem for Anton. To provide feedback to any of his co-worker an interpreter can be used by him. Anton can also deal with the Cross-cultural management issue for uprooting the cultural differences.

Develop and use Emotional Intelligence Assignment
Strategies to help Anton
(Source:Golemanand McKee, 2002, p.38)
He must use his knowledge of his own culture to gain the knowledge about his partner’s culture .All foreign cultures should be respected. Recognition of the culture of a partner is considered the first condition of mutual understanding and good cooperation. Anton is very good in English.Still he feels that his co-workers abuse him. The main reason is that he is unable to understand the fact that it is a unique way by which his workers interact with each other. This language problem is actually arising from the issue of difference in culture.

Giving the Anton the scope to express himself

Expression is an integral part of expansion and fulfilment of individual personality. It is important to have faith in oneself and express the feelings. If Anton expresses and shares his problem with his partners then he may get chance to have his demands fulfilled. Letting others know about his problems will help in the adjustment in a work field. However, that does not mean that he should always raise his voices of demands. Expression also leads to adjustments and compromise with other fellow members. Well-planned communications can help to set the appropriate emotional tone. Poorly executed communications can trigger negative emotions, causing unnecessary hassle
Assisting Anton to realise the effects of his conduct
Self-assessment involves honestly investigating and acknowledging the emotional strength and weakness. This factor leads to the realisation of the effect of the conduct of an individual on his co-workers. Anton is unable to realise the reason why he is teased in spite of his good grip on English. As a result, he gets frustrated and raises his voice of protest. He is actually unable to understand the jokes made by his co-workers. Naturally, his peers avoid him and laugh at his ‘cranky mood’. For Anton it is important to recognise and understand how his emotions both affect his interaction with others and affect others emotional state (Serrat, 2014, p.3).

Encouragement for self-management of emotions

Self-management involves using what an individual knows about his emotions to manage them in such a way as to generate positive interactions with others and motivate themselves in all situations. The very act of acknowledging the fact that an individual is feeling a negative emotion goes a long way in preventing him from losing control of one’s behaviour. At first, Anton needs to identify and his own emotions, self-task, physical responses and then he should affirm his rights. Maintaining composure on job involves managing emotions and stress. Anton should not make any impulsive judgements and decisions. In this case,his fellow workers should guide Anton. It should be kept in mind that he does not feel de-motivated. His co-workers must encourage him (Golemanand McKee, 2002, p.32).

Conclusion

Being the HR manager, I feel that the above stated plan of mine is enough to dissolve all the difficulties faced by Anton in my company. Anton is very competent for this job role,but as I am the HR of this company, it is my responsibility to look after the crisis faced by my employees. Myabove-recommended plan is to set Anton free of all the difficulties faced by him. I hope thatthe proposed plan of mine can meet the demands as soon as possible.

Reference List:

Cherniss, C. and Goleman,D., Eds.(2001). The emotionally intelligent workplace. San Francisco, Jossey-Bass.

Goleman, D., and McKee, A. (2002). Primal leadership: Realising the power of emotional intelligence. Boston, MA:HBR Press.

Serrat, O. (2014). Understanding and developing emotional intelligence, Cornell University ILR School, 4(7), pp.3-4. Order Now

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UNIT 16 SALES DEVELOPMENT AND MERCHANDISING

INTRODUCTION

Aim

This unit will enable learners to gain understanding of external sales development techniques and the tools and techniques of internal sales and merchandising in a business and services context.

UNIT 16 SALES DEVELOPMENT AND MERCHANDISINGUnit abstract

This unit advances learners’ understanding of the importance of sales development and merchandising techniques in business and services operations, paying particular attention to hospitality and catering, hairdressing and beauty therapy, sports and leisure, and travel and tourism sectors. The unit is broad-based in its approach, covering both theory and the practical application of tools and techniques used internally and externally, designed to maximise sales from all aspects of the product mix. Learners will also analyse the role of staff in maximising sales.
Learners must ensure that their evidence relates to the hospitality industry

LEARNING OUTCOMES & ESSENTIAL CONTENTS

1 Understand elements of the product in a business and services context

Products/services: characteristics, features/benefits, product strategy/mix, life cycle, development processes, test-marketing (simulated and controlled), concept development and testing, unique selling points (USPs), branding
Market segmentation: rationale for segmentation, methods of segmentation, recognizing market needs, matching ‘offer’ to market segment, benefits and constraints of branding, theme developments
Context: types eg hospitality and catering, hairdressing and beauty therapy, sports and leisure, travel and tourism

UNIT 16 SALES DEVELOPMENT AND MERCHANDISING2 Understand external sales development techniques

Buyer behaviour: motivation theory, the purchase decision process
Advertising: media selection, costs, target markets, evaluating effectiveness, sales promotion
External merchandising: design aspects eg location, access, car parking, signage

3 Understand the tools and techniques of internal sales promotion and merchandising

Design considerations:customer ergonomics (ease of access to product and point of sale), environment/ambience eg heating, lighting, seating, noise, equipment
Internal merchandising: internal signage, sales materials, electronic sales aids, matching materials to image created by external methods
Sales promotions: range of promotional activities; matching activities to market and business; seasonal opportunities; upselling

4 Be able to evaluate the role of staff in maximising sales

Personal selling techniques:non-verbal communication, up-selling opportunities, customer needs and wants, product knowledge, link between selling and service, encouraging repeat business
Operational design: ergonomics, workflow, equipment
Training: incorporation of sales role, positive sales attitude, specific promotional training, incentives and rewards, preparation of sales training programme

RESOURCES

Develop and implement operational plans for your area of responsibility
Ensure compliance with legal, regulatory, ethical and social requirements
Develop productive working relationships with colleagues and stakeholders
Build your 
organisation’s understanding of its market and customers
Improve 
organisational performance.Order Now

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UNIT 13 FINANCIAL REPORTING

UNIT 13 FINANCIAL REPORTINGINTRODUCTION

The overall aim of this unit is to develop the knowledge, understanding and skills which are required in the preparation of financial statements. Students will become aware of the appropriate financial standards which influence and inform the production of financial statements. They will also explore the conceptual frameworks for financial reporting and how they are related to the reporting of financial information. On successful completion of this unit students will be in a position to prepare, analyse and audit financial statements in a workplace context and be able to assist senior colleagues in the interpretation of complex financial information. In addition, students will have the fundamental knowledge and skills to progress on to a higher level of study.

LEARNING OUTCOMES & ESSENTIAL CONTENTS

LO1 Analyse the context and purpose of financial reporting

Context of financial reporting:

  • Complying with regulatory frameworks.
  • The governance of financial reporting including duties and responsibilities of responsible officers.
  • Unincorporated or incorporated organisations.

Purpose of financial reporting:

  • Meeting user expectations and legislation.
  • Ensuring all organisations comply with the same rules and standards. Seeking funding/investment.
  • Predicting future financial positions and cash flow.

LO2 Interpret financial statements

Importance and purpose of analysing financial statements:

  • Using financial statements to communicate financial positions with stakeholders.

Ratio analysis:

  • These would include, but not limited to, the use of liquidity ratios, ROI, WACC and debtor periods to determine financial positions.

UNIT 13 FINANCIAL REPORTINGCash flow, profit and loss and balance sheets:

  • Considering how to use cash flow statements to monitor inflows and outflows of cash.
  • Using the profit and loss account to summarise the financial performance of an organisation in a given time period.
  • Using a balance sheet as a snapshot of an organisation’s position regarding assets and liabilities.

LO3 Evaluate financial reporting standards and theoretical models and concepts

Financial reporting standards:

  • As a common global language.
  • How does it facilitate understanding of financial matters across international boundaries?
  • Differences between International Accounting Standards (IAS) and the International Financial Reporting Standards (IFRS).

Role and use of IFRS:

  • Benefits to organisations, governments, investors and other key stakeholders.
  • Consider the nations which adopt the IFRS and how this is advantageous and/or disadvantageous.

Theories, models and concepts:

  • Equity theory.
  • Legitimacy theory.
  • Models of reporting and models for auditing.

LO4 Evaluate international differences in financial reporting

International differences:

  • Different financial reporting principles in relation to international companies.
  • The international differences before the IFRS and how countries have responded to the IFRS.
  • International differences in external financial reporting and factors that influence differences.

RESOURCES

  • ELLIOT, B. and ELLIOT, J. (2013) Financial Accounting and Reporting. 16th Ed. Harlow: Pearson.
  • GRUENING, H. V., SCOTT, D. and TERBLANCHE, S. (2011) International Financial Reporting Standards: A Practical Guide. 6th Ed. Washington: The World Bank.Order Now

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Unit 6005: Managing the change process

TASK 4

LO4 Identify which organizational objectives are going to be addressed and/or achieved by this change. Analyze what the impact of the change has been for the organization describing how this is monitored and how success is measured

Unit 6005: Managing the change processIn this task a discussion would be carried out on the various organizational objectives that could be achieved with the help of the implementation of the change. A discussion on the ways by which the change could be monitored and measured would also be done.

AC4.1Analyze the impact of the change on achievement of organizational objectives

Info Edge had been on 25th number as a positioning in the IT market, it was due to its non-existence in the software which had been gaining popularity. Once the change is implemented in terms of the software implementation and business for the bank and retail companies, it will open up its ways towards the progress. They will gain a competitive edge over other IT companies as they will have both the services and can offer a comprehensive package on the IT services to various companies. They will earn on more revenues and profitability. The objectives that Info Edge has set for itself would be achieved easily. It will come at a more significant position in the organization. Employees would also grow and stakeholders would also get benefited. The overall profitability and success of the enterprise could be achieved through this means. It used to be only in hardware and the companies which were successful had software specialization. Once Info Edge will gain success in even the software implementation, it will be able to succeed in its business operations.

Comments

When a change is implemented and it gets successful, it helps the companies in achievements of its objectives in full. Info Edge would be able to achieve its objectives as it will work towards the positive side and become a comprehensive service provider for hardware and software solutions (Vosniadou, 1994).

TASK 5

LO4 Construct a management plan to demonstrate how the change process will be implemented and how it will be monitored. The plan should identify how individuals in the organization will be involved and supported during the change process. Analyze the outcome of the change process against the organizational objectives being addressed to measure the level of achievement. Describe how secure support for the plan from senior management by taking a business case

In this task a plan would be development for the employee involvement, management strategic implementation and monitoring of the change process.

AC5.1Describe how secure support for the change process from senior management

Senior Management plays a very critical role in the change process and its implementation. They have to support the team which is involved in the change implementation in all the ways. It has to make sure that they do not doubt on the credibility and reliability of the team. They have to support them from the financial point of view as well. In case sometimes, the budgets get exceeded they have to approve the budgets and help the company and team in achieving them. They do not have to interfere in all the steps of the change process. They should believe and give full freedom to the employees so that they do not have to wait for the small decisions that have to be taken in the change implementation. In case the budgets exceed and employees submit the revised proposal then management should not take time to approve it and ensure that a time does not get wasted.

AC5.2 Demonstrate how individuals in the organization will be supported during the change process

It is important that all the individuals are supported for the successful implementation of the change:

  • They will be given ample resources to make their change a successful implementation.
  • They will be given financial approvals and budget specifications for the change (Damanpour, 1987).

Unit 6005: Managing the change process

AC5.3 Construct a plan to implement and monitor the change process

Monitoring of the change is very crucial in order to realize the level of its achievement. The plan for the implementation and monitoring of the change process is as follow:

  • By organizing weekly, monthly and bi-annually meetings with the managers and management. These meetings will help in reviewing the status of the change implementation and even in case employees facing any issues or problems; they would be addressed immediately without any delay or loss of time.
  • By checking through audit process and progress of the checklists as defined for the change process. Checking and Auditing will help in finding out if there is any deviation from the objectives then that could easily be tracked and controlled.
  • Mapping the skills and competencies of the employees working in this project so that in case training or learning and development are required is being given to them. This will help in imparting the necessary employability skills and expertise to the team involved in the change implementation.

AC5.4 Analyze the outcome of the change process against the change plan and organizational objectives

Once the change is implemented, the outcome would be positive and successful in case the successful monitoring process has been implemented along with change process. It may be negative in case there is no track, auditing of checking of the change process has been done. Also organizational objectives are achieved when the changes are successfully implemented within the company. Company will be able to exceed the expectations of the employees, its objectives and even the clients and customers requirements. Banks and Retail companies that have requested Info Edge for software comprehensive services will remain satisfied and happy with the company. Company will gain both hardware and software outsourcing solution from these clients gaining revenues and profitability (Weick & Quinn,1999).

Comments

Change monitoring and progress tracking is very crucial for the implementation and achievement of the company objectives. During the change process it is essential that employees and the team working on it is completely supported and backed up for the implementation of the change process.

Conclusion

Change is an opportunity that will definitely bring positive as well as negative impact on the employees and the stakeholders of an organization. Info Edge being a hardware company had implemented software solutions in its services. By following the Kotter’s step of change management and implementation, it was able to bring about growth and success in the organization.

References

Armenakis, A. A., &Bedeian, A. G. (1999). Organizational change: A review of theory and research in the 1990s. Journal of management, 25(3), 293-315.

Bordin, E. S. (1983). Supervision in counseling: II. Contemporary models of supervision: A working alliance based model of supervision. The Counseling Psychologist.

Damanpour, F. (1987). The adoption of technological, administrative, and ancillary innovations: Impact of organizational factors. Journal of management,13(4), 675-688.

Damanpour, F. (1991). Organizational innovation: A meta-analysis of effects of determinants and moderators. Academy of management journal, 34(3), 555-590.

Garvin, D. A. (1985).Building a learning organization. Org Dev&Trng, 6E (Iae),274.

Konovsky, M. A. (2000). Understanding procedural justice and its impact on business organizations. Journal of management, 26(3), 489-511.Order Now