Admission Questions

There is a Quaker saying: †Let your life speak.† Describe the environment in which you were raised–your family, home, neighborhood or community–and how it influenced the person you are today. (200 words, 2000 characters)I live in a family of four which includes my mom, my grandparents, and I. My mom worked long hours, so my grandparents looked after me and gave me all love and care. I took over the challenging responsibility of regularly giving him eye drops. He hated receiving them and made my job more challenging when he wouldn’t cooperate, but I never gave up. Today I am more confident with all the challenges faced so early in life.I now have a new perspective of my family and self. I have learned to embrace the reality and the facts of leading a positive life. Looking back, I realize that I am lucky to have shared the relationship I have with my grandparents. Instead of turning away from them, I stood by them and coped with them, often setting asi de my personal interests. The unbreakable connection I have with my grandparents is truly unique.I have deep respect and care for the elderly because I have learned that every second spent is precious and there is no end to learning. At the end, I learnt that my perception of an incomplete family just never existed and it changed my perception.2. College of Arts and Sciences: What work of art, music, science, mathematics, or literature has surprised, unsettled, or challenged you, and in what way?I like mathematics because it is challenging to me and I enjoy it. I actively seek and investigate its profound mystery. I feel exciting sense of achievement in solving complicated calculus questions and also obtain imagery recognition of a matter from analyzing it quantitatively. Mathematics’ charms and challenges are found in the fact that it is the spirit of all kinds of science.People can conclude the physic principle by studying calculus and can build a program by using mathemati cs formula. I am confident to continue exploring, studying and challenging mathematics and emerge as a better surprising research associate.

Examine the tensile strength of three specimen of low, medium and high carbon steels is examined

The aim of this laboratory experiment is to examine the tensile strength of three specimen of low, medium and high carbon steels is examined. The microstructure of the specimen is determined and calculations such as tensile strength, yield strength etc were clearly recorded. Also, the background theory was stated, the apparatus and procedure used to achieve the experiment was described. The main part of this lab report is the discussion on the results and how close they've been calculated to the original theoretical values by taking into consideration some external experimental errors. The last part of this report is the conclusion on the whole procedure. INTRODUCTION The main purpose of this lab report is by using a tensile testing machine (Hounsfield tensometer), to determine mechanical properties of three different plain carbon steel materials (low carbon steel, medium carbon steel and high carbon steel). Also, their grain structure is to be examined using a Metallurgical microscope. BACKGROUND The three different materials are the low-carbon, medium-carbon and high carbon steels. Their tensile strength is examined which by definition is explained as the amount of stress that a material can resist when a force pulls it along its length until a complete deformation takes place. A ductile material is a material that contains the properties of plasticity and tenacity and it's able to change its shape when a force acts on it and can keep that changed shape even after that force is removed. (Timings R. 2006) The tensile test is mainly used to specify the strength and ductility of a material. Also the tensile test involves: 1. Material showing a yield point which is the point that an extension takes place without any increase in load 2. Proof stress which is used to determine the amount of plastic deformation. 3. Secant modulus which is used to determine the elasticity of the material. (Timings R. 2006) Plain carbon steels: Ferrous metals are basically a metallic material (iron) and it means that iron is combined with carbon. Iron and carbon, the simplest of the ferrous metals (Latin ferrum=iron), are the main elements of plain carbon steels. Low-carbon steels have a carbon content 0,1-0,3% in addition to impurities. This kind of steels cannot be directly hardened by heat treatment, but they can be readily carburized and case hardened. The type of medium-carbon steels have a carbon content 0,3-0,5%. They can be toughened by heat treatment. All types of high carbon steels (carbon content 0,8-1,0%) are extremely strong and their response to heat treatment is better than the medium-carbon steels. However, because of the high carbon content they can be hardened to a high degree of hardness. (Timings R. 2006) The iron-carbon (Fe-C) diagram in figure1 helps to study and learn more about the microstructure of carbon steels as well as their heat treatment. Figure1. â€Å"The Fe-C phase diagram shows which phases are to be expected.† (1) â€Å"At the low-carbon end of the Fe-C phase diagram, we distinguish ferrite (alpha-iron), which can at most dissolve 0.028 wt. % C at 738 à ¯Ã‚ ¿Ã‚ ½C, and austenite (gamma-iron), which can dissolve 2.08 wt. % C at 1154 à ¯Ã‚ ¿Ã‚ ½C.† (1) EXPERIMENTAL PROCEDURE In order to complete this test, three tensile test specimens, each of different carbon content, are given. Also a tensometer machine is available in order to tense the specimens. The machine works as follows: Firstly, the specimen is placed on the machine and a force pulls it along its length. This force is measured (in kN) on a digital force meter which is connected to the machine. On the top there is a cylinder with a graph paper around it in order to sketch a graph of force against the extension of the specimen. This is done by moving the pointer on the graph paper by 0,5kN respectively and pointing on the graph each time the reading on the digital force meter increases by 0,5kN, for instance, if the reading reaches 1,0kN the pointer has to be pointing at 1,0kN and by the time that the reading is 1,0kN a point is sketched on the graph. (See figure 2 below) Figure 2. Furthermore, measurements of the length and cross-sectional area were taken before and after the test in order to determine the percentages of elongation and the reduction in area. The last part of the experiment is to examine the three micro-specimens given which is the exact same material and condition as the three materials used on the tensile machine and determine the percentage of the carbon content of their grain structure. This is done by using a Metallurgical Microscope. RESULTS The results of the experiment were calculated and recorded on a table as shown below: Test piece material % carbon content Yield strength (N/mm2) Ultimate tensile strength (N/mm2) % elongation % reduction in area Specimen A Low-carbon steel 0,1 315 430 37 66 Specimen D Medium-carbon steel 0,4 475 660 28 62 Specimen N High-carbon steel 0,8 932 960 13 30 All the specimens had normalized treatment conditions. Graphs were plotted for every specimen, which state clearly the points of force and extension. (See Tables below) The ultimate tension strength (uts) was calculated by the following formula: â€Å"† (3) The yield strength (ys) was calculated by the following formula: â€Å"† (4) The elongation percentage (elon.) was calculated by the following formulae: â€Å"† (5) The reduction in cross-sectional area (red.csa) was calculated by the following formula: â€Å"x 100† (6) Microstructure results The following specimens are the result of the experiment. The white region of each specimen is ferrite and the gray region is pearlite. The carbon content is determined using the iron-carbon (Fe-C) phase diagram. SPECIMEN A SPECIMEN D SPECIMEN N DISCUSSION The experiment is now completed and a discussion about the results is made. The values calculated in the experiment are going to meet the theoretical values of the three specimens used. In the table below all the results were recorded: CALCULATED THEORETICAL Low carbon steel UTS (N/mm2) 430 162-3200 YS (N/mm2) 315 140-2400 ELONGATION (%) 37 1-48 REDUCTION A. (%) 66 13-99 Medium carbon steel UTS (N/mm2) 660 450-2290 YS (N/mm2) 475 245-1940 ELONGATION (%) 28 0.6-34.2 REDUCTION A. (%) 62 0.2-71.4 High carbon steel UTS (N/mm2) 960 161-3200 YS (N/mm2) 932 275-2750 ELONGATION (%) 13 1.9-30 REDUCTION A. (%) 30 13.4-75.2 The table above show clearly that the calculated values are close to the theoretical values. This means that the experiment was successful and the calculation were correct. Although, there's always a small percentage error in every experiment. The most common error in every experiment is the human error and this is the main type of error that may took place in this experiment. Also, differences in temperature and the purity of the material used is an important issue. Furthermore, from the examination of determining the grain structure of each material under the microscope the difference between them was very clear. For instance, the different amount of ferrite and pearlite could be identified, high-carbon steel had darker color than low and medium carbon steels which means that the amount of pearlite is almost 100%. Also, from the tables plotted on the tensometer machine the load that every specimen could withstand, the elongation percentage and the reduction in cross-sectional area were different. By considering these values, low-carbon steels have the least amount of load before complete deformation and the most percentage on both reduction in cross-sectional and elongation of the three specimens. This means that low-carbon steels have the least amount of carbon. In addition, low carbon steels can be defined as ductile materials. Medium-carbon and high-carbon steels are less ductile have les percentage of elongation. This means that they are harder and they are applied more load in order for deformation to take place. Finally, the last part of the discussion is about the different yield point of the three specimens. If the graphs are considered, a sudden fall of the load appears to take place on the graphs of low and medium carbon steels during the procedure. This means that the two specimens faced a reduction in cross-sectional area (also known as necking). This doesn't seem to happen to the specimen of high-carbon steel which means that the deformation took place without having any noticeable reduction in cross-sectional area as the load was kept increasing. CONCLUSION In conclusion, the three specimens where tested and results were given. Since the calculated values meet the theoretical values, the experiment was successful. Discussion about the ductility and the main structure of the given specimens was made and also the differences between them were stated.

Assess the social implications of business ethics Essay

Environment- the environment can affect the human activity. So for example; global warming which is the warming of the planet’s surface that is caused by carbon dioxide. In order to run a business efficiently they would need to make sure that their customers are aware of all the environmentally friendly activities that they do and that they are not harming the environment in anyway as some customers do take keeping environment healthy seriously. Sainsbury’s is really cautious about caring about the environmental and being eco-friendly and making sure that they are not causing any damage to the areas around them. They take the climate change seriously. They are concerned about the impact that they have on the environment. Their aim is to reduce the carbon footprint, reduce packaging and reducing waste. Sainsbury’s are concerned about the impact that they have on the environment, also with the career bags they give they make sure that they only take out the amount of bags that they need so that the bags are wasted. They want to make sure that they are making a continuous improvement with the environment so that it is not harming anyone. Sainsbury’s do not want to harm the industrial areas in anyway, and that is why wherever they are located is always safe where it would not cause any damage to the people or the planet. They want the climate to be good and they know what ways it could affect it and what they need to do in order to prevent causing damage and staying away from trouble. In order to improve this Sainsbury’s can make sure that anything that they do does not affect the environment and maybe before making any major changes they take advices from their local areas in what they think and how and what could be done to improve it. They could also charge for the bags so that the customers do not start asking for more bags then they already need. Sainsbury’s could also keep publishing information on environmental performance so everyone realises how important it is to look after the environment. Trading fairly- these are the rules the businesses need to follow which include; the business needs to run in an open manner, competition can only happen in between companies that belong to equal parties and making sure their customers are satisfied and are feeling secured with the business’s products and the quality of the products. All usinesses need to make sure that they are honest to their customers and are describing their products as it is to their customers so that they do not get angry by getting the wrong information. Sainsbury’s use many products that are organic and make many fair-trade products such as; fresh fruits. They need to make sure all their products are traded fairly and are pay ing their suppliers and employees fairly and make sure they are now paying them below the national minimum wage. They cannot cheat on their employee by providing them with the wrong information about the product or charge their customers extra for the product. All businesses need to follow all the rules and regulations in order to run ethically. Legal and regulatory compliance- all businesses must follow all the laws and regulations that have been set because if they do not agree to following the rules they would not be running the business ethically. Every organisation must be truthful to their customers and provide them with the correct information about the product and also not overcharge them for any of their goods and services. Sainsbury’s need to make sure that they are following the legislations and regulations so that they are not doing that is against the law. They want their business to be running with health and safety so that no one is harmed by it. They try recruiting staff as possible so that they are not the cause of unemployment, they plan their business properly so that they do not have to face any trouble in the long term and they have been doing that quite well as this is the reason why they are running successfully, they care about the environment and do not want to cause pollution that is why they produce sustainable products. They treat their workers right and follow the rules of not making them work more than they are supposed to, take disadvantage of them, they keep record of all workers and makes sure it’s available for authorities. They make sure they are treating their customers with respect and are not letting them down in any way. Bribery- this is when a business uses money to sort out the behaviour of the receiver. Sainsbury’s have always stuck to the laws so they haven’t really been through bribery or in other words ‘corruption. They are always assuring of their plans that they make. They would not do anything that would be illegal. They would not take any actions that would later on make a negative impact on the industry although they could bribe the local government by giving them extra money so that they government would let them do things that they wouldn’t let other businesses do. In order to improve their performance Sainsbury’s could measure their l evel of corruption and identify their weaknesses. This would help them to improve ways to meet the standards of their customers and all the other people who are a part of their business and figure out how to improve and resolve any other problems that could occur in the future. Animal testing- this is used to figure out whether a product is safe and effective. The production of goods can lead to ethical issues, which Sainsbury’s are against. Almost all businesses test their products on animals before selling it in the market. However Sainsbury’s do not approve of this as they believe that animals should be treated fairly and with respect so they are constantly working to raise welfare standards. From giving pigs happier lives through improved farming methods, to ensure that their own-label cosmetics meet the Humane Cosmetics Standard and increasing their range of freedom food products, which meet strict RSPCA guidelines. They offer wide ranges of higher welfare foods and cosmetics at any UK retailer but all Sainsbury’s products are free from animal testing.

Mumbais Dabawalahs - A World Class Service Coursework

Mumbais Dabawalahs - A World Class Service - Coursework Example This is the extent of the power and pervasiveness that modern multinationals have in our world. They dictate many of our choices in everyday things as well as specialized activities. As Annie Leonard has pointed out in her ‘The Story of Stuff’ (2007), 51 percent of the world’s largest economies are those of corporations (Leonard, 3). The case study of the Mumbai Dabawalah’s tiffin delivery service is an excellent example of human endeavour in action. Achieving accurate and fast delivery to over 200,000 hungry office workers every day is no small feat- and that too in an extremely fast turnaround time of twenty seconds of stoppage by the trains-to collection and reversal of the entire process after the lunch break, to reach the dabba home before the worker arrives at the end of the day- is nothing short of phenomenal. With just a code to guide them, the delivery is as unerring as Six Sigma or one defect in a million deliveries (Mullins, 326). Theme from Sect ion A: Attracting and Retaining the Best Staff When it comes to a question of how to attract and retain the best staff, we have to look at the various theories of motivation proposed by different thinkers and writers over the ages. In ancient times, management used the carrot and stick approach or what McGregor calls Theory X and Theory Y (McGregor, 1960) to get the desired results within the organization-some firms still do. Motivation is anything that induces one to perform or do something. Most basic of these is Abraham Maslow’s Hierarchy of Needs Theory, in which he has defined human needs as being in a ladder or hierarchy from the lowest to the highest points- or from the basic physiological needs of food, clothing and shelter to the higher needs for safety and security, further to esteem needs and ending at the point of self actualization needs, where man has achieved his life purpose through his actions and work (Mullins, 257). Very few of us are fortunate enough to re alize this in our lifetimes. Herzberg gives his Two Factor or Hygiene Theory (Mullins, 261) as an explanation on how and what motivates workers based on an actual field experiment that he conducted. He concluded that there were a group of satisfiers and dissatisfiers in every work environment- which could be anything from strict and unyielding work policies or the lack of management attention to the needs of the workers on the negative side, to a fair and equitable wage and hygienic conditions that took into account the health and safety of the workers on the positive side. It is the removal or mitigation of negative factors, and the enhancement of positive factors that would keep the workforce happy and looking forward to returning to work. Quite often we see labor action as a result of management’s apathy to a situation requiring redress such as better working conditions, more rest between assignments, or the need for better pay and benefits. Herzberg was therefore able to prove that money is not the only motivator. The Expectancy Theory developed by Vroom (Mullins, 266) indicates that people will do something if they think it is worth their effort and there are benefits both to themselves and the organization. McClelland mentions that among managers it is the need for Power, need for Affiliation and need for Achievement that are the most important factors (Mullins, 264). It is still debatable whether or not money is the chief motivator, or whether worker treatment and participation and improving the work life balance and quality of working life are more important. Mostly it

Nursing - Interprofessional Education Essay Example | Topics and Well Written Essays - 2000 words

Nursing - Interprofessional Education - Essay Example Further, nurses must broaden their skills and scope of practice while collaborating with a team of different health professionals. The ultimate solution lies in promote academic progression within nursing that recognizes the complex and evolving nature of nursing practice. Efforts aimed at promoting the team-based education for health professionals are not new or unique. The development in this area of education has been driven by concerns that the existing healthcare workforce must meet patient and community health in a cost-effective manner and that educational institutions must take more responsibility to produce a skilled workforce (Interpersonal Education Collaborative Expert Panel, 2011). Interprofessional education (IPE) has been described in a variety of ways. The World Health Organization (2010) defined IPE as occurring when professionals from different professional backgrounds learn about each other and from each other to enable collaborative improvement in health outcomes. Lowe et al (2012) described IPE as the interrelationship occurring between professionals and learners, able to learn from each other via effective collaboration to improve health outcomes. The purpose of IPE is therefore to facilitate the preparation of health workforce with regard to their ability to respond to local health needs (Lowe et al, 2012). The World Health Organization (2010) identifies interprofessional collaboration as an important strategy for mitigating global health challenges, especially regarding improvement of health outcomes and developing strong health system. Arguably, most of the health care in the U.S. is delivered via multidisciplinary approach (Pecukonis et al., 2008; Isaacs and Benjamin, 1991). This approach involves multidisciplinary work that runs parallel to client systems. More importantly, the communication work in this approach is embedded within a leadership hierarchy (Pecukonis et al., 2008). Within this system of health care, team members are res ponsible for activities related to their discipline, and there is little sense of shared responsibilities for team development or even patient outcomes. The notion of interprofessional education and its impact on the provision of services is not novel or unique. Pecukonis et al (2008) notes that interprofessional teams and collaborative groups were used as early as the mid 20th century at the level of community health care especially to underserved populations. From a historical perspective, inter-professional education was originally illustrated in the 1972 Conference Steering Committee recommendations (Interpersonal Education Collaborative Expert Panel, 2011; Davidson, 2005). The Conference made multilevel recommendations including organizational, administrative, instructional, and interpersonal. At the instructional and organizational level, the committee recommended obligations of academic institutions with regard to conducting interdisciplinary education and patient care aimed at developing methods to link education with requirements essential for practice. Other recommendations included use of ambulatory settings as sites for inter-professional education, an effort aimed at integrating classroom instruction to develop faculty skills. At the national level, the recommendations emphasized on the need to developing national framework for sharing practice models and instructional capacities, supporting government agency for innovative instructional and

Low context culture of America Essay Example | Topics and Well Written Essays - 2750 words

Low context culture of America - Essay Example This essay discusses that the USA has become the most influential state on the face of the earth for the last few decades. It has enjoyed the position of the strongest economy and attracted people from all nooks and corners of the world for employment. American citizenship is a dream for middle class of almost all societies. USA is the most lucrative name when it comes to lifestyle. It is increasingly becoming international because of two main reasons. People from all over the world are migrating to USA. They all have various values, belief and cultures as well. Their stay at the new place forces them to adopt the new lifestyle. The society is affected by their views as well. The blend of native values and the imported culture is making USA more and more diverse in its behaviours and culture. Also, because of a strong economy, USA enjoys strong political position in international forums. With these two strengths, it becomes the platform where rest of the countries discuss their issue s for solutions. Because of increased cooperation with the powerful nations and influence in the developing nations, USA is successful in absorbing others in it. So accordingly, these two points pave the way for dynamism at all levels in the country. Yet, it is important to mention that USA is not diluting its culture in the imported cultures. It is rather giving birth to an international culture in which all the people find room for themselves and rigidity for traditions is over. Having a considerable population of foreigners in various states of USA, its culture has overall become a blend of all cultures. Likewise, this characteristic of American culture which gives room for all others to adjust makes it a low context culture. It is a low context culture because of the presence of highly diverse population who have different perceptions, viewpoints, lifestyles, choices, family and educational backgrounds, social systems, religions etc (Kennedy and Everest, 191). It is impossible t o unite all of them under the same attitudes hence the culture has reduced its contextual rigidity and gives all of them the freedom of speech and action. The formality is replaced by informal ways which bring convenience for people to adjust. People working in low context culture need to talk clearly and pass instructions without any misunderstandings (Treven, Sonja, MatjazMulej and Lynn, 108). On the other hand in high context culture, people expect their converser to know what the message of the communication was, without being specifically told (Beer). Great importance is placed on decorum, ambience, manner of delivery and the relative status of the participants in the communication (Goman). America is a low context culture, mainly because of the variety of different cultures and nationality of people residing there. With so many people from such diverse cultural differences, the message needs to be clear, thorough and precise to be understood by all. That will be the only way t o communicate effectively in the workplace (Huckins, 73). This paper is about a particular American artifact or belief and its comparison with other countries. Artifacts are defined as tangible signs of the culture (Saunders & Skinner, 14). The artifacts are common in culture and give the culture a sense of identification. The artifacts can be historical as well as recent. Among historical artifacts, there are numerous archaeological patterns and architectural styles that help identify the particular culture. For example, the sign of triangle reflects Pentagon. Artifacts can be seen in various aspects of life like household items, office fixtures, technological tools, scientific instruments, medical instruments, farm tools, calculators etc. There is an artifact known as American eagle. The paper discusses the various

Research Project Paper Example | Topics and Well Written Essays - 1750 words

Project - Research Paper Example This psychological and emotional distance between the young and elderly population has created many problems on personal and social level, which can threaten the psychological, emotional and the physical health of the family structure and the society as a whole. Introduction Old age is a graceful phase of life as it makes people free from most of their responsibilities in life, and gives them a feeling of fulfillment, contentment and freedom. It also provides them with leisure, and opportunity to undertake those things that they were not able to do in their youth due to professional and personal responsibilities. However, instead of enjoying their old age in leisure and relaxation, elderly people are being indirectly forced to feel that they have made a mistake by becoming ‘old’. The reason behind elderly people feeling ‘unwanted’ and ‘worthless’ is the prejudice and the discrimination with which they are being treated in the society. Sadly, it is the Western society where elderly people experience major problems. In the United States, the negative attitude and misconception about the old age has resulted in elderly people experiencing disadvantage in their personal and social life (Macioni, 2009, p.396). ... o understand that the negative treatment of elderly people is not only destroying the life of elderly people on individual level, but is also destroying the health of the society as a whole (Andersen & Taylor, 2008, p. 363). Society cannot afford its elderly population to be depressed and psychologically weak as the sociology of age reveals that age composition is essential for a healthy society as the solution of social problems depends on â€Å"how well social institutions serve different generations of people† (Andersen & Taylor, 2008, p. 363). Moreover, due to their experience and wisdom gained from life, elderly people have lot to contribute to the society. Hence, it is high time for people to understand that for the formation of a healthy society, it is important to give respect and positive treatment to the elderly people, as they not only comprise the largest age group of the society, but also deserve it for successfully fulfilling the responsibilities and facing the c hallenges of life. Ageism Ageism is a term used by sociologists to define the prejudice and discrimination practiced against elderly people due to their age (Andersen & Taylor, 2011, p. 93). Ageism has seeped in every aspect of the society and is not limited to a single attitude or belief towards the elderly people (Andersen & Taylor, 2011, p. 93). Elderly people are not able to take advantage of different sources and opportunities in social and professional life as they experience discrimination and prejudice in different areas of life (Andersen & Taylor, 2011, p. 93). People think that with growing age, the abilities of person are reduced. It is wrongly believed that elderly people are not capable of handling the responsibilities of adults as they are childlike and forgetful in nature (Andersen &

Organization Research Paper Example | Topics and Well Written Essays - 750 words

Organization - Research Paper Example As such, the employees will know how to improve the performance of the organisation by implementing the techniques used in training. Thirdly, the HR should insist on using technology in some of the activities. It is decreed that technology improves production. Therefore, employees that use technology will give the organisation competitive advantage. 3. Necessity of job descriptions Organisations have to be open about job descriptions. All workers should be given their job descriptions. However, when this is not done, there are possible scenarios that would be experienced. First, all workers will not be responsible for the hard tasks at the work place. The hard task will be left unattended, as each worker will prefer lighter tasks (Aaker, 2011). Secondly, there will be no accountability. None of the workers will be accountable for loss of property. Similarly, no worker will accept liability when part of the work is not done. Lastly, without job descriptions, there will be minimal prod uction. This is due to the haphazard execution of tasks. 4. Drawbacks to using flexible work hours Employees have to provide optimum production while at their work place. This includes working for a specified period before taking a rest. However, some organisations prefer flexible working hours for their employees. This could expose the organisation to negativity. First, such an approach will encourage irresponsible behaviour. The workers will not report to their places of work as required (Robin, 2004). For example, they will find excuses to justify their irresponsible behaviour. Secondly, workers will be choosy on the schedules at work. They will prefer a schedule that is minimally supervised. This will reduce the productivity. Thirdly, collective progress will not be realised since the employees will choose different working hours. 8. Basis of ability or on personality Applicants should be primarily selected on basis of ability. The ostensible reason for an organisation is to get work done at the most appropriate time and within the set parameters. Workers with ability can increase productivity of an organisation to an optimum level. They are versatile in executing their work since they have the ability to do so (Learn Media BPP, 2010). As a fact, workers with a basis of ability have the mindset to learn new techniques at the work place. As such, they are likely to conform to the needs of the organisation. On the other hand, personality is not directly related to productivity. An organisation that picks personality will expose decent behaviour, but will not necessarily have optimum production. 9. Laying off workers Laying off workers is a process where an organisation reduces the number of workers. This can be due to a reduction in productivity, foreseen market concerns and when there is a need to cut on costs. To begin with, managers prefer to lay off workers with cyclic Sicknesses. These workers are constantly off duty due to their sicknesses. Therefore, the managers prefer to lay off such worker to cut on costs. Apparently, the option of early retirement is not considered in such a situation. This is due to the increased costs especially in insurance payments for the worker. Secondly, managers prefer to lay off workers especially when their payments have been revised (Beynon-Davies, 2009). An increase in the payments would mean an increase in the pension schemes payable to

Knowledge Management organizational practice Essay

Knowledge Management organizational practice - Essay Example One popular characterization of KM defines it as "the explicit and systematic management of vital knowledge and its associated processes of creating, gathering, organizing, diffusion, use and exploitation, in pursuit of organizational objectives" (Skyrme, 2002, p. 4). Traditionally, two major views have been presented in the scholarly literature on KM, namely: the informational resources management (or management of explicit knowledge) and management, which creates the environment in which people could easily develop and share the knowledge. The key distinction between these two views is that they adopt different views on the importance of the two basic forms of knowledge that exist within any organizational setting. Knowledge is an abstract multilateral concept which encompasses a wide range of facts, specific skills, procedural knowledge etc. Although the elements of knowledge seem to be equally important there have been many attempts to arrange the internal structure of knowledge in a sort of order. One of the most popular classifications of knowledge widely applied in the organisational research is based on the distinction between tacit and explicit knowledge Tacit knowledge as a specific form of knowledge in organizational setting was identified by Polanyi (1962). (Polanyi, 1966). Nonaka and Takeuchi (1995) define tacit knowledge as "... highly personal and hard to formalize. Subjective insights, intuitions and hunches fall into this category of knowledge" (p. 40). In other words, tacit knowledge is knowledge which exists 'within' or inside individuals and, therefore, it is extremely difficult to express, transfer or share with others (Newell et al. 2002, p. 3). By contrast, the explicit knowledge is the form of knowledge that allegedly can be explained by individuals. This implies that the useful knowledge possessed by each individual can be articulated and made explicit (accessible to other members of the organization). Explicit knowledge can then be transferred across the whole organization in codified form (e.g. documents, drawings, procedures, manuals, databases, etc.) with information systems playing the key role in the transfer (Sanchez). Nonaka and Takeuchi (1995) define explicit knowledge as follows: "can be expressed in words and numbers and can be easily communicated and shared in the form of hard data, scientific formulae, codified procedures or universal principles" (p. 40). Explicit knowledge in organizations is commonly stored in databases and other documents; the place of tacit knowledge is in the brains of people. Several knowledge management programmes implemented in the organisational practice paid specific attention to converting tacit knowledge into explicit knowledge believing such approach would result in substantial benefits. However, such attempts mostly proved useless and ineffective because no document, database or other source of explicit knowledge has the potential to adequately replicate the experience accumulated by human being over long years of work. The cognitive

International finance strategy Essay Example | Topics and Well Written Essays - 2250 words

International finance strategy - Essay Example Dividend policy pertains to the practice of company’s management in providing dividend payments or taking decisions related to the pattern and size of dividend cash distributions, which are to be made by the company to its shareholders (Nissam and Ziv, 2001). This decision to distribute company profits is critical for the company as it influences the capital structure as well as the stock prices. There are three basic contradictory theories in relation to dividend policies of firms. The first view in this regard claims that increase in dividend payments help to improve firm value. This is the bird in hand argument. The second view postulates that high payouts in the form of dividends have a conflicting effect on value of firm and is known as the tax preference argument. The third view is the dividend irrelevance hypothesis, which asserts that dividend decisions are irrelevant and dividend policy decision has no significant effect on the firm. Corporate managers have been able to realize that dividend payments are necessary to satisfy expectations of the company shareholders. They have tried to smooth out dividends over a long period of time because it is believed that reducing dividends might uphold an unfavourable image of the company to its shareholders. Hence, dividends are also used to give signals to the market about company performance and stability. Dividend policies have a huge impact on a company’s stock prices. There has been an ongoing debate regarding the impact of a firm’s dividend policy over its value and capital structure decisions since 1950s. The following sections shall discuss the issue in detail. In financial terms, the capital structure is a framework based on which a company finances the assets in combination of equity, debt and hybrid form of securities. The capital structure of a company is simply the formation of a company’s liabilities. According to