Organizational Performance Essay Example | Topics and Well Written Essays - 2000 words

Organizational Performance - Essay Example This paper brings out a critical evaluation of Balanced Scorecard models developed by Kaplan and Norton as also the EFQM excellence model promoted by the European Foundation for Quality Management. With a view to measuring a firm's activities in terms of its vision and strategies and to give the manager's a comprehensive view of the performance of a business, a concept which is described as Balanced Scorecard was introduced by Robert S. Kaplan and David Norton in the year 1992. There have been several studies conducted on the subject of Balanced Scorecard to develop the concept further. "The Balanced Scorecard method of Kaplan and Norton is a strategic approach and performance management system that enables the organizations to translate a company's vision and strategy into implementation working from four perspectives." (12 Manage) Measures: Once the objectives are established the next logical step is to identify the proper tools and parameters and define them to measure the organisational's performance towards achieving these objectives. For example the growth in the net margin or the sales in a particular region may well act as the measurement parameters. Targets: When the measurement parameters are established suitable targets need to be evolved to transform the organizational objectives into reality. Achieving a reduction in the manufacturing cost to the extent of 5% annually may be fixed as a target. Initiatives: Proper initiatives in the form of projects of programmes need to be developed as a support for achieving the set targets. If the targets are supported by initiatives, it may not be possible for the organization to achieve its goals. 2.2 FEATURES OF BALANCED SCORECARD: The monitoring of the perspectives of the Balanced Scorecard involves the development and usage of the following features within the broad organizational performance arena. Double-Loop Feedback: It is always essential, in order to exercise a proper control on the performance measures, there need to be data feedback to enable the mangers to determine the cause of variations and identify the processes with significant problems. This would enable the managers to focus their attention on repairing the

EU Law assignment Essay Example | Topics and Well Written Essays - 2000 words

EU Law assignment - Essay Example had reviewed the role of the national courts and maintained that the spirit of the EC law would be harmed if individuals were deprived of availing themselves of redressal for damages suffered due to the infringement of EC law by national highest courts of last instance of the respective member states. The ECJ specified that the national courts that constitute the very last forum were truly the last judicial entities available to individuals. At that stage individuals attempt to assert the rights provided by Community law. Thus the judicial bodies that are in effect the last resort of individuals at the national level should invariably follow the provisions of Community law. The ECJ also pointed out that Article 234 EC is an indicator of the spirit of the Community and the Treaty Scheme that protects individual rights conferred by the Community law. Therefore, the national courts of last instance should not infringe Community law3. The ECJ’s ruling in Kobler paved the way to initiate elaborate discussions on several legislative issues concerning state liability. The Advocate General asserted that judges of national courts should not confine themselves to the national law alone, but that they have to act within the purview of the EC law, in order to maintain the spirit of the EC Treaty. This requires national judges to critically assess the scope of national law and the application of the EC law over national law, since EC law has supremacy over national law. Moreover, they have to ensure that their national law is in conformity with the Community law. This would result in the judges of the domestic courts, ignoring pieces of national legislation that were enacted lawfully under the national procedure for enacting laws, in order to give preference to EC law. In such situations the fundamental doctrine of separation of powers would have to be infringed. This role allotted to the judiciary is akin to the r ole allotted to the higher courts that have to uphold the

Law of Contract Essay Example | Topics and Well Written Essays - 1500 words - 1

Law of Contract - Essay Example Joanne, Vanessa’s business advisor and representative, Arnold hid the fact that the wood panelling in FF’s sauna facilities are rough, unpleasant to the touch, and require repairs, such that without examining the facilities further, Joanne reported to Vanessa that the facilities were â€Å"first rate†. Furthermore, Arnold also informed Vanessa of further improvement he plans to have done on FF prior to the sale, particularly the installation of massage facilities, which he eventually forgone when he discovered the costs required for these improvements. Thus, Vanessa, in believing she was entering into a good bargain bought the leisure centre. It was only after buying FF however, that Vanessa discovered several work needed to be done on the leisure centre, particularly the need to repair the rowing machines, which costs  £10,000 and the need to re-panel the sauna costing  £5,000, leading Vanessa to believe she was misled by Arnold into entering their contract of sale. The main issue is therefore whether or not Arnold, in failing to disclose the facts that (a) 20 of the 100 rowing machines were not working, (b) that he no longer intends to install additional massage facilities, and that (c) the wooden panels in the sauna are not in good condition, has committed either a breach of contract or misrepresentation against Vanessa. Furthermore, other issues are also present, particularly whether or not Joanne, in failing to properly examine the leisure centre and reporting it as â€Å"first rate† to Vanessa renders her liable t owards the latter. And whether or not, Vanessa has suffered losses resulting from the bargain; and if so, if she can claim damages for her loss. Given the contractual relationship between the parties, a breach of contract would have been committed by Arnold if it can be shown that he violated an expressed or implied term in their transaction, or a collateral contract resulting from their transaction. Hence, if a contract was drawn and terms

Quantitative Applications Essay Example | Topics and Well Written Essays - 2000 words

Quantitative Applications - Essay Example (c) A project plan was constructed and the network was designed for designing, writing and installing a bespoke computer database. The critical path and the shortest time to completion is identified as follows: = Contract negotiation User discussions Review current system Systems analysis (a) Systems analysis (b) Programming Preliminary testing Documentation preparation Implementation Debugging Manual. (d) This project can be controlled by monitoring and controlling the critical activities and reducing lead time on the other activities which do not contribute towards the critical path. The important activities that need monitoring and control may be the Systems analysis, programming, testing, documentation, implementation and debugging. (a) The main advantages of holding an inventory are that losses due to unexpected changes in demand and deliveries from suppliers can be avoided and it is a safety net against backorders. The main disadvantages of holding inventory are the increased holding costs incurred due to higher rental value of the space occupied, higher premiums, the danger of the inventory losing its value or becoming obsolete and the loss of money in opportunity costs. The assumptions made are that the demand rate is known and it is uniform (constant), the ordering cost is constant, quantity discounts do not exist, the production rate is infinite (with no shortages) and the order is received immediately after placing the order. The formula for a simple demand model for the EOQ (Economic Order Quantity) is now given below: Economic Order Quantity, Q = Where, C = fixed cost per order (not per unit, in addition to unit cost) D = annual demand quantity of the product H = annual holding cost per unit (also known as carrying cost) (c) Unit cost = 80 Annual holding cost per unit = 20% per year = 0.20 * 80 = 16 Holding cost per unit per month = 1.33 Fixed cost per order = 140 Demand = 700 /month Therefore, EOQ, Q = 384 units/order (d) If the supplier offers a 5% discount on the product cost if ordered in lots of 1200 units or more, then the advice to the manager is to place the orders once every four months. QUESTION 3 (a) A diagram of a simple and basic EBQ model is shown below (production and consumption model). The assumption here is that rather than the lot arriving instantaneously, the lot is assumed to arrive continuously at a production rate K. This situation arises when a production process feeds the inventory and the process operates at the rate K greater than the demand rate D. According to this model, the Economic Batch Quantity (EBQ), or the Economic Production Quantity (EPQ) is given by Where, K = Setup cost D = Demand rate F = holding cost P = production rate (b) Unit cost of a thermostat = 25 Demand per annum, D = 4000 Production Rate, P = 200 per week = 10400 per annum Setup costs, K = 240 /setup Inventory Holding costs, F = 17.5% of

Ben Bernanke - Federal Reserve Chairman Assignment

Ben Bernanke - Federal Reserve Chairman - Assignment Example Ben found himself being an American since his paternal grandfather immigrated to Ellis Island on January 23, 1891. They shifted from New York to Dillon in the 1940s (Snowdown, 2002). This paper will seek to discuss Ben Bernanke’s history, education, background, and policy at the Federal Reserve. When Ben was a young adult or teenager, he worked construction and as a waiter at a nearby restaurant within the surroundings of his hometown of Dillon prior joining college. In order to afford upkeep for himself while he was at school, he worked during summers along the South of the Border. Ben was a religious person who used to assist with rolling the Torah scrolls in Dillon’s local synagogue. Despite the fact that Ben keeps his religious beliefs private, a close friend Mark asserted that, Ben embedded in who he is. This factor had his family concerned as they worried about him losing his Jewish identity (Snowdown, 2002). Education Ben Bernanke received his elementary educatio n at East Elementary, joined Martin Junior High, and then Dillon High School. Additionally, he played saxophone in the school’s marching band. Following the fact that Dillon High School did not offer calculus at that time, Ben resolved to teach it to himself. Surprisingly, he happened to achieve a SAT score reading 1590 over 1600. Given his tremendous performance, he joined Harvard University where he resided under the same roof with Lloyd Blankfein who would become the Chief Executive officer of Golden Sachs in the future. Bernanke graduated with a Bachelor of Arts in economics in 1975. From there, he went to study at the Massachusetts Institute of Technology where graduated in 1979 and received a doctorate philosophical degree in economics. This took place upon completing and defending his so-called dissertation long-term commitments, the business cycle, and dynamic optimization (Singleton, 2010). Bernanke had a thesis advisor named Stanley Fischer who would later become th e governor of the Bank of Israel in the future. Still on education, Ben Bernanke also taught at the Stanford Graduate School of Business beginning 1979 to 1985. Besides visiting the University of New York partly as a professor, he also went ahead to assume a part time professorate at the Princeton University in the Economics Department. Matters of education or academics revolved around his life as he chaired the Princeton University Department of Economics from 1996 to September 2002. However, his long-term related life around schools ceased when he left for a public service leave where he resigned his outstanding position at Princeton University on the first day of July in 2005 (Singleton, 2010). Background Ben Bernanke used to serve among members of the Board of Governors of the Federal Reserve System as from 2002 until 2005. Ensuring his essence within the board, he delivered his first speech entitled Deflation that outlined what contemporary econometrics today refers to as the B ernanke Doctrine. As a Reserve System Reserve board member, he stipulated, on 20 February 2004, that the world is experiencing new era that he termed as the Great Moderation. He expounded that this is a situation where modern macroeconomic policies are decreasing the business cycle’s volatility to a particular point that it should no longer be a central concern in economics (Singleton, 2010).

Social De-alignment in UK Essay Example | Topics and Well Written Essays - 3500 words

Social De-alignment in UK - Essay Example It has become popular through the recent years to view the voting patterns in the UK as less dependent on social attitudes and positions, rather than dependent on political factors. However, it is still under argument, whether social issues still play major role in defining voters' behaviours, as the present-day society has become more polarized. The electorate may be described as well-educated and informed mass of people, and it is often that its rational choice is based on the party's position, leadership, strategy and policy, not taking into account to which class the exact part of electorate belongs. This is the basis of the so called 'supermarket' model of voting, when the rational choice is based on the perceptions, which party will improve the life of the society while in Government. Thus the theory becomes active, when the leadership and personality of the candidate become increasingly significant for voters, and the political issues leave for the background. However, such th eories don't take into account the influence, which the media may make on the personality of each leader, and this influence may be both positive and negative, thus causing the electorate to make wrong choice. This work is to be concentrated on the social theories in voters' behaviour which take into account age, gender and class to which the voters belong, and assuming that these factors dictate the way the voter makes his choice. De-alignment 'Class is undoubtedly a significant factor when considering voting behaviour; traditionally two thirds of all voters chose their 'natural' class party, the working class favoring Labour and the middle class Conservative. However, since the1970s class de-alignment has begun, and the proportions of classes voting for particular parties have become more even, caused by embourgeoisement and the consequent decrease of in size of the working class'. (Curtice, 2002) This theory may be easily linked to the suggestion, that the voter's choice is becoming more tied to the place of his residence (the theories of voters' behaviour and the influence of neighbourhood will be discussed in this work), however, it is easily explained by the fact that the working class mainly occupies the northern part of the country, while the southern part belongs to the middle class. Simultaneously, it is interesting to note, that during the election campaign of the year 2001 the Conservatives lost most of their southern votes, which says there are some other factors except for class, which influence voters' choice. Another important social factor in defining voting preferences is gender. However, the proofs, which support this theory, are very inaccurate, as they don't account the gender equilibrium in the workforce and the attempts of different parties to concentrate their campaigns on childcare and health issues. It may be surprising not to note the influential role of the social factors in electorate behaviour, as Britain cannot be described as less class aligned. People still reflect their class preferences in their voting, though less attention has been paid to these factors, while they are still important and should be taken into account. To realize the importance of the social re-alignment and de-alignment in relation to the voting behaviours, it is necessary to provide the reliable argument as for the increasing social polarization in the society. According to Dorling (2006), 'housing wealth per child rose 20 times more in the best-off tenth as compared to worse-off tenth of areas in Britain 1993-2003; the majority of extra higher education places

“GOD” and “DOG” Essay Example for Free

â€Å"GOD† and â€Å"DOG† Essay Growing up, my summers were often spent at my uncles ranch. My mom would drive me up and leave me for about 2 to 3 weeks. Those were the most fruitful and fun-filled summers of my life. At the ranch, I would be far removed from city life and its hectic schedule. Instead, I would spend my mornings in bed, often waking up late to have a very fine breakfast prepared by my aunt. My cousins were very accommodating and my friendship with them remains to be part of my most-treasured memories. We still keep in touch by E-mail, and sometimes see each other when our schedules allow. Idyllic and fun as it was, the most haunting and persistent memory I have of those summers at the ranch is that of Evan. Evan is one of my uncles farm hands son, and although he was only slightly older than we were, he had already started working at the farm since he was eight or nine. His friendship helped shape the way I am now, and made a positive impact in my life. His story and friendship became a personal cause for me, and I am hoping I could lay it down to make it into a more public advocacy. * * * At first I thought his name was Moe, because my cousins called him Slow Moe. He was shy and kept to himself, and never went out of his way to talk to us. Mon, my eldest cousin, had another, and simpler, nickname for him: Stupid. I felt sorry for him. And maybe that was why I tried my best to befriend him. It was not easy at first, but then he cracked a smile and the conversation went smoothly after that. One thing that struck me about Moe was that he was actually intelligent. He knew his work, and was really passionate about the horses he tended to. He knew a lot of things about their nature, how to keep them, and how to pacify them if they were agitated. His knowledge also applied to other animals. We had a great time talking about a lot of other things: about his life, my life, current events, the news, and even the gossip around town. Just about anything and everything was up for discussion. Moreover, he had his own opinions about a lot of issues and I found that really admirable. Sometimes he taught me things like how to ride a horse, or how to jump into the lake without landing so painfully on my stomach. He also taught me about constellations, their names and how to identify them. I also found out his real name was Evan, but he had learned to live with Moe. One night, I ventured asking why he was not in school. Evan just chuckled and said that those kids were evil. I later found out that Evan attended up to the first grade and then refused to go back. His last day at school was an ugly episode wherein some kids in his class called him all kinds of names and beat him almost to death. My cousins initially resented the time I spent with Evan, and even the few times I brought him along with us. He was an outsider, they protested. And they were ashamed to be seen in town with the farm hand with no lights on up there. But Evan eventually won them over, and with my cousins realizing that they have been wrong with the guy, they developed a better relationship with him. Soon, his nickname was rarely mentioned among us, and we started using his real name. Evan is a dyslexic. During that time, however, he was just plain stupid. I doubt if his parents ever knew his condition or cared about it. Evan was taught at home by his mom, who used pictures and drawings to get herself understood. Evan was alright with verbal explanation, but not written ones. I learned about his condition when we ventured into town with my cousins and stopped by a bookstore. He was looking at the sign outside the store and read the sign as bokos. I laughed and he immediately fell silent. I sensed something was wrong, but I kept quiet about it until we reached home. Because we were already close friends by that time, I asked him about it.. He admitted that he couldnt read, and I told him I could not believe that. He seemed to be a smart and intelligent person, there is no way he was illiterate. He shook his head and insisted that he could not read. He explained that when he read, he always read it wrong. Evan explained that to him, E, M, and W all looked alike, as well as G, O and D. So he reads â€Å"GOD† and â€Å"DOG† as â€Å"OOO†. He further said that there are times that he could see the letters, and know what they are, but that they â€Å"danced around†. Like if he sees the word CAT, he can identify the letters C, A and T, but he could not string it together. Sometimes he’d see it as C, A and T, sometimes it’s A, C, and T. * * * Dyslexia is a disability that affects an individual’s reading and writing skills, a condition that is present in 10% of the general population in various forms and degrees (Dyslexia Action, undated, online). Today, an estimated 15% of American students suffer from dyslexia, and up to half of all Americans have some form of undetected learning disabilities. Other studies also report that as many as 2. 9 million school-aged American children have learning disabilities (Edwards, 2006, online. ) Heather Hardie, citing dyslexia expert Sylvia Moody, writes that dyslexia is simply difficulty with writing and reading, which may stem from short-term memory weakness, faulty information processing, and weak perceptual, spatial and motor skills. A dyslexic, therefore, can have problems with poor concentration and poor memory. It may manifest subtly, like when a child is slow in reading certain words, but reads them correctly; or it may be severe and obvious like in Evan’s case. Dr. Moody adds that a dyslexic may exhibit other symptoms and problems like bouts of forgetfulness, difficulties in organization and in keeping time. (Hardie, 2006, p. 26). The overall effects are dramatic. To a child suffering from dyslexia, school work may suffer. Reading is such a basic skill thats required in nearly all school subjects that a dyslexic child is put at a great disadvantage, and often leading to problems with learning. The child usually fails in school. It can also lead to low self-esteem, delinquency, aggression, behavioral problems, and social withdrawal (Mayo Clinic Staff, 2007, online). This was clearly seen in Evans case. He was extremely shy and preferred to work away from us and mostly kept to himself. This was unfortunate, because his friendship made my summers at my uncles farm more memorable. I hate to think how many friendships were not developed because of dyslexia. How many children had wanted to reach out and say hi, but was stumped by the fear of being laughed at. The moniker and label dyslexic is bad enough, but being thought of as stupid is a million times worse. A child with dyslexia needs a supportive environment both at home and at school. A parent should explain to the child that it is not his or her fault, and patiently explain the condition to him or her, this will enable the child to cope and compensate for his or her disability. Parents of dyslexic children should also get in touch with teachers, and it might help if they find support groups that can provide both emotional support and good information (Mayo Clinic Staff, 2007, online). Dyslexic students grow up to be dyslexic adults, and in the workplace, dyslexia is not much kinder to those who suffer from it. In fact, Linda Goldman and Joan Lewis (2007) writes that information processing disorders, like dyslexia and attention deficit hyperactivity disorder, are considered legal disabilities, giving the suffered adequate legal protection against discrimination and requires employers to ensure fairness by making reasonable adjustments in terms of recruiting, training, employing and promoting employees with dyslexia (p. 16). Often a dyslexic worker produces below par work output, manifests poor timekeeping, and often fails to remember instructions. This puts him or her at greater risk to be terminated from work, especially if his or her condition goes undiagnosed and unrecognized (Goldman and Lewis, 2007, p. 16). Even so, most employees with dyslexia need only more time to do their work and to correct problems related to concentration and coordination. This is what reasonable adjustments are all about (Goldman and Lewis, 2007, p. 16). However, I take heart in the stories of a lot of people who have succeeded in spite of having dyslexia. Pamela Coyle (1996) chronicles the travails and successes of three of them: Sylvia Ann Law, David Glass and Jonathan Pazer. All of them are noted dyslexics, yet each one succeeded in their fields. Sylvia Law became a professor of, appropriately, law. She also teaches medicine and psychiatry. She is the author of several books and has served as lecturer, as well as strong influence in the fields of civil rights and poverty law. David Glass and Jonathan Pazer are both practicing lawyers. (pp. 64-67). Heather Hardie (2006, p. 24) adds businessman Richard Branson, comedian Eddie Izzard and architect Richard Rogers to the list. Their lives are shining examples of how dyslexia could be overcome, if only one does not give in to low self-esteem and engage in self-pity. More than that, a child with dyslexia should grow up in a supportive environment that would not only foster his development, but also instill in him or her the confidence needed to grow and live life. * * * The last time I saw Evan was more than two years ago. He had become a handsome and confident young man, and has a steady girlfriend who, along with Evan’s mother, is helping him study for a high school equivalency test. At the time, he was also working at a local fast food chain as a janitor, and at the local school doing odd jobs. But Evan still shies away from contact and conversation with strangers. For my part, I am happy to have met him at a time when I was growing up. He made me think and realize that people have their own problems, and it is difficult to judge them by what we see. Moreover, he made me realize that what’s more important is what we do not see. If I had not scratched below the surface, I would still be one of those kids who continue to call him â€Å"Slow Moe,† and that would have deprived me of a friend who had made my summers at the farm richer and more fulfilling with his stories, tips, and jokes. In a sense, I know I could never thank Evan enough for the impact he had in my life. But I know that I am thanking him with every child, dyslexic or not, that I tutor on reading and writing as a volunteer for our neighborhood pre-school. I am thanking him by not being mean to other people when they show a kind of â€Å"weirdness† or â€Å"stupidity. † I am thanking him by not judging people I meet right away. I wish I could do more. I want to tell Evan the next time I see him all about Sylvia Law and other people whom I think would influence him to do better with his life despite his disability. In fact, I hope to be able to tell people just how wrong they are at labeling dyslexic people stupid. What they need is love and support. They need all the leeway they can get to help them overcome their disability. They have all the potential to succeed in life, if we—friends, teachers, fellow students, employers, colleagues, and parents—only give them the chance. Acknowledgments: First of all, I want to thank (name of teacher) for giving us this assignment. This exercise has given me the opportunity to think about my life and appreciate a person who I never really thought much about before. Alvin John for proofreading all those drafts and giving suggestions that helped shape this paper. And of course, Evan for the friendship and the insights. References 2007. Dyslexia: Complications. Retrieved July 11, 2008, from Mayo Clinic, Web site: http://www. mayoclinic. com/health/dyslexia/DS00224/DSECTION=complications 2007. Dyslexia: Coping and Support. Retrieved July 11, 2008, from Mayo Clinic, Web site: http://www. mayoclinic. com/health/dyslexia/DS00224/DSECTION=coping Coyle, Pamela (1996). What Sylvia Law, Jonathan Pazer and David Glass confront when they read or write. ABA Journal, 82, 64. Retrieved July 10, 2008, from ABI/INFORM Global database. (Document ID: 10121349).