Personal statement Essay Example | Topics and Well Written Essays - 1000 words - 13

Individual explanation - Essay Example I as far as it matters for me was exceptionally inspired by the region, so I delighted in those occasions definitely. The break in contemplates was for the most part expected to discover my quality and shortcomings and in this manner, distinguish the field that most appropriate my inclination. I had for the longest time been itching to work before going in for higher examinations. The break has for sure been the most characterizing a great time. The encounters in different regions of human association have altogether affected my point of view towards issues and factors which were until now considered of low legitimacy. In 2003, I previously worked with Ymed Sysems Inc. which showcase clinical hardware and offer clinical types of assistance. Working with the organization caused me to understand that being proficient and being a sales rep are two distinct things. To progress throughout everyday life, I expected to obtain more information. In spite of the fact that I began perusing books on various zones of business, I understood that further extent would furnish me with better information. After two years’ working with the organization, I at long last realized that financial aspects is the field for me. I am keen on knowing how and what causes business to prevail in the exceptionally serious worldwide condition. In spite of the fact that I had settled on provisional choices about my future, I selected for military assistance. The following two years in military had additionally reinforced my conviction that America is the spot to acknowledge one’s dream. I realized that America is a pla ce where there is openings and seeking after advanced education from renowned scholarly world like this training would significantly encourage in understanding my fantasies about turning into a fruitful expert in the field business the executives. Since 2008, I have been concentrating in America. I have been going to English, financial aspects, bookkeeping, and science classes, which will end up being the foundation for increasingly significant examination in Santa Barbara City College. The homeroom meetings have shown me how hypotheses are applied, all things considered, circumstances. The two years in

Finance For Business Investment Or Initial Outflow Free Sample

Question: Characterize about the Finance for Business for Investment or Initial Outflow. Answer: Section A Pay Back Period Restitution period is utilized to examine that how much time is required to recoup the underlying expense of speculation or introductory surge. On the off chance that compensation period is shorter, the undertaking is progressively attractive (Chandra, 2015). Regardless of whether in limited compensation period, the idea of time estimation of cash is relevant. Pay Back period = Initial Investment/Cash stream of per period On the off chance that income of consistently is same, at that point above recipe will apply. For instance, resource buy costing $100000 and income consistently is $25000, at that point take care of period will be 4 years ($100000/$25000). Also, on the off chance that income is distinctive in consistently, at that point limited compensation period determined. In the given undertaking required pace of return is 12% and income is diverse consistently, so limited recompense period will be determined. Estimation of devaluation: Deterioration = (cost - rescue esteem)/life of advantage = (34500000 - 5500000)/5 = 5800000 Uses for including new highlights and consumptions for showcase study both considered as starting money surge. Recompense time of the venture is 2.79 years implies cost of advantages can be recouped in 2.79 years. It is valuable for the Emu hardware to interest in assembling supplies. Productivity Index (PI) Productivity list used to distinguish the relations among cost and advantages by determined proportion. It is utilized for positioning activities. While computing benefit file, time estimation of cash is additionally relevant. It is an apparatus of account to taking choice, regardless of whether the venture will be acknowledged or not (Damodaran, 2010). The venture will be acknowledged whether gainfulness file will mutiple (1) and the task will be dismissed if benefit file falls beneath (1). Furthermore, on the off chance that, productivity list is equivalent to 1 (=1), at that point it will be circumstance of aloof methods anticipated will be acknowledged or dismissed. Gainfulness Index = Present Value of Inflow/Present Value of Outflow = 52205510.12/35,450,000 = 1.47 According to above count gainfulness record is mutiple, so the venture is worthy. Emu gadgets ought to have acknowledged the undertaking. Inward Rate of Return (IRR) It is the pace of return which is utilized to ascertain productivity of speculation. IRR is the pace of intrigue. The net present worth ought to be equivalents to zero of all incomes at inward pace of return (Gallagher Andrew, 2007). Computation of Internal Rate of Return by Trial Error strategy: IRR = 30 + (35570884.83 - $35,450,000)/(35570884.83 - 34908659.88) = 30.18254345 Interior Rate of Return of the undertaking is 30.18% on which net present worth will be zero. Net Present Value (NPV) It alludes to disparity between present estimation of money inflows and present estimation of money surges. The standards of acknowledgment the venture is net present worth (NPV) will be certain and the models of dismissal of undertaking is net present worth (NPV) will be negative. What's more, if, net present worth (NPV) is zero, it will be state of lack of interest. Equation: Net Present Value = Present Value of money Inflows Present Value of money Outflows Estimation of Net Present Value: While ascertaining present estimation of inflows, present estimation of lingering esteem/rescue (for example 5500000) likewise included (Needles, Powers Crosson, 2010). Here, net present estimation of task is $16,755,510 which is sure in this way, venture will be acknowledged. Affectability of NPV to changes in the cost of the new advanced cell Changes in income legitimately effects on NPV and income changes if there is variety in cost of item. Net present worth changes with change in the cost of the item. On the off chance that cost of the advanced cells will be builds, at that point net present worth will increments and stays positive. What's more, on the off chance that, cost of the advanced mobile phones will be diminishes then net present worth will diminishes or falls negative. In this way, it very well may be said that net present worth is exceptionally touchy with changes in the cost of the new advanced mobile phone (Moyer, McGuigan Rao, 2014). Affectability of NPV to changes in the amount sold On the off chance that selling amount of any item transforms, it straightforwardly effects on net present worth. On the off chance that selling amount of PDAs will be expands, net present worth will increments. What's more, if, selling amount of advanced cells will be diminishes, net present worth reductions. So it very well may be said that affectability of net present worth (NPV) is relies upon change in number of units sold or amount sold. Net present worth is progressively delicate with changes in the amount sold (Gill, 2015). Emu Electronics should create the new advanced mobile phone Emu Electronics ought to need to deliver the new advanced cell since it is productive according to counts made under net present worth, restitution period and gainfulness record. The recompense time of Emu Electronics is 2.79 years. In the event that Emu Electronics put resources into assembling types of gear of new advanced mobile phone, at that point they can recoup their venture cost in the time of 2.79 years. Benefit record of Emu Electronics is 1.47 which is mutiple, so new task is reasonable for them. Net present estimation of Emu Electronics is certain, so new undertaking is adequate. On the off chance that Emu Electronics loses deals on different models in light of the presentation of the new model On the off chance that Emu Electronics present new model of advanced mobile phone, it will be conveyed more particulars. So clients will like to get it. Henceforth, naturally deals of different models will be diminished. It impacts the gainfulness and net present estimation of organization. According to showcase general situation, on the off chance that any new item propelled in advertise, at that point it will be effective or not relies upon its particulars or clients need. In the event that such item is increasingly valuable or have exceptional attributes, at that point clients will want to get it since they got more fulfillment. In the event that there is no details in new item, at that point clients won't get it. Presentation of new item consistently impacts to the offer of different items. Same with Emu Electronics, they got loss of deals on different models in light of presentation of the new model. It happens in light of the fact that clients occupy to buy new model and deals diminishes of different models. Because of progress in deal, income of organization changes and it impacts legitimately to net present worth, gainfulness record and compensation period. So it influences on complete investigation of organization. Part B Cost of capital for Hubbard PC ltd 1) From the ASX site yearly report of Harvey Norman of 2015 downloaded. The yearly report of any organization shows the total cost of that organization. According to accounting report or articulation of money related situation as at 30 June 2015, on page number 59 book estimation of obligation and book estimation of value found. Book estimation of obligation included notes payable, current part of long haul obligation and long haul obligation. According to yearly report of Harvey Norman, the book estimation of obligation is $698,438,000 as at 30 June 2015 seems to be: Current part of Interest bearing credits and borrowings $408,438,000 Non-current part of Interest bearing credits and borrowings $290,000,000 Book Value of Debt $698,438,000 Book estimation of value incorporates share capital or contributed value, holds excess and held benefits. According to yearly report of Harvey Norman, the book estimation of value is $2,556,860 as at 30 June 2015 seems to be: Contributed value $380,328 Stores $113,290 Held benefits $ 2,043,463 Non-controlling interest $19,779 Book Value of Equity $2,556,860 (Source: Annual report of Harvey Norman, 2015) According to title Interest Rate Risk Management in yearly report of Harvey Norman at page number 120, breakdown of Harvey Normans long haul obligation is as per the following: (Source: Annual report of Harvey Norman, 2015) Normal loan fee (skimming) of long haul obligation is 0.47% to 5.93% given in yearly report of Harvey Norman. There is no other order of obligations according to gathering of years. 2) Latest stock cost recorded for Harvey Norman 5.18 Market estimation of value, or market capitalization 5.76B Remarkable portions of Harvey Norman 2,066,523 Latest yearly profit (pay date 01 Dec 2015) 11 penny According to yearly report profit per share 20.0 penny According to yearly report unique profit per share 14.0 penny Profit rebate model can use for this situation as all significant data are accessible. Beta for Harvey Norman 0.70 Note: All the sums given above are in Australian Dollar (AUD). (Source: aufinance.yahoo.com, 2016) Yield on government obligation is 1.86% according to Bonds interface at aufinance.yahoo.com. Cost of value for Harvey Norman by Capital Asset Pricing Model (CAPM): Cost of value = Risk free pace of return + Premium expected for chance Cost of value = Risk free pace of return + Beta * (showcase pace of return hazard free pace of return) = 1.86% + 0.70 * (3% - 1.86%) = 0.02658 = 2.658% Here, government securities yield esteem taken as hazard free pace of return. Cost of value is financing cost of value capital (Pratt Grabowski, 2010). Under capital resource evaluating model, chance factor of capital contributed is thought of. Hazard free pace of return is a pace of government securities, which are liberated from showcase chance. Estimation of beta is taken from Harvey Normans site. Also, advertise pace of return is determined, it is appeared in reference section. 3) Business advance rate is 5.34% p.a. according to gave site of Westpac. Weighted normal expense of obligation for Harvey Norman By book esteem loads: Weighted normal expense of obligation = aggregate of weighted rate/aggregate of weight = 3.738/1 = 3.738% Here one kind of obligation (for example enthusiasm bearing advances and borrowings) accessible according to yearly report of Harvey Norman. Cost of obligation is 3.73% for both, current and non-current enthusiasm bearing advances and borrowings. So there is no uniqueness between cost of obligation and weighted normal expense of obligation. It tends to be comprehend by above estimation of weighted normal expense of capital. Weighted normal expense of obligation can't be dictated by showcase esteem premise since credits an

Guest Entry Christina Bognet

Guest Entry Christina Bognet This post is written by the beautiful and talented Christina 10, whose first choice when applying to colleges was admittedly NOT MIT, but is quite possibly the funniest (and happiest) Baker biology genius I know, as well as a poignant and accomplished blogger. Enjoy! *** Precisely one year ago today I sat drinking coffee at a Dunkin Donuts with one of my best friends, Colin, as we chatted about getting into our respective first choice schools early decision. I have a really good feeling for you, Christina, he told me. Ahhhh, I dont know. Probably not. But you…youre getting into MIT. I know it. How could they not take you? We agonized and fantasized over getting The Big Envelope (or in Colins case, The Tube) until both we and the pterodactyls in our stomachs were exhausted. The days leading up to decisions were sickeningly brutal and wonderfully exhilarating all at the same time. There would be hopeful, Im getting in! Im getting in! moments, followed by, theyll never take me, moments. It was difficult to decide whether optimism or pessimism was the better approach and neutrality seemed impossible. As much as I tried to be rational in convincing myself that things would turn out okay, at the end of the day, the facts remained: I wanted to go to School A and I needed to get in. Period. I checked the decision online, put my head in my hands and sobbed. They were not tears of joy. Flash forward one year. Im sitting in my dorm room looking out at the beautiful Boston skyline, taking a break from my 5.111 problem set. I had dinner a few hours ago with the very same Colin who was accepted to MIT on the day I was deferred from what I thought was my dream school. I have grown so much in the past year and in watching my friends and myself trudge through the college admissions process, Ive gained a lot of perspective. I dont know how it ever got to the point where I put so much emphasis on a place that seemed perfect at the age of 18, that I actually feel as though my happiness was contingent upon my acceptance into a college. I only realize now how preposterous that truly is. Two of my best friends were rejected from their first choice schools and yet are completely in love with where they ended up and roll their eyes when reminded of how much they thought they wanted to be somewhere else. As for me, I love MIT. I really do. Im lucky and blessed to be here and SO grateful my dream school deferred me. But to say I wouldnt have been happy somewhere else is unreasonable and silly. The truth is, and maybe you cant see this yet, its going to be okay. Its going to be better than okay. However, if youre anything like my old self, if you dont get the news you are hoping for on Saturday or in April, youre going to experience this crazy whirlwind of emotions. Youre going to feel sad, angry, apathetic, confused, and defeated. But somewhere in there, youre going to have this isolated moment where you think to yourself, WhatEVER. Im going to succeed anywhere. And when that feeling comes… hold on to it and never let go.

Northern Ireland - 1460 Words

Diplomacy does not happen overnight, and the true tale of hardship and bickering over Northern Ireland is proof of that. Ireland and England failed to agree on who held the power of Northern Ireland for over 30 years until the Good Friday Agreement, a form of diplomacy between the countries, took place. Before that time, many soldiers and innocent citizens of Northern Ireland lost their lives. Religious fights broke out between Catholic and Protestant residents. Political figures from countries like Wales and the United States came together to help put an end to the bitter relations of the European countries (Delaney). After many years of hard feelings and failed attempts at bringing peace to Ireland and England, the countries came†¦show more content†¦After one year, the death toll was 300, and after 10 years the number of people who had been killed from the fighting was a gruesome 1, 932 (Holland 196). Many of the victims were innocent people who were not partaking in the fights in any way. The killers of these innocent people were never caught or punished (Graham). After several years of fighting Jack Holland expressed what he was witnessing as â€Å"there has already been much crying about Northern Ireland† (Holland 1). Even the governments were aiming their weapons at each other. The Irish Republic Army killed a British soldier, creating a substantial amount of tension between the two countries (De Breadun). When the end neared, Ulster Defense Association ceased to be an armed paramilitary group. They had been responsible for many deaths over the years (Delaney). Several political figures from all parts of the world were brought together over the ordeal concerning Northern Ireland. During the early 1990s, British Prime Minister John Major worked with Ireland’s Ahern to achieve peace between them. All attempts at peace failed overall. United States President Bill Clinton worked with Ireland, Britain, and Northern Ireland to acquire th e peace they were hoping for (Graham). It was not until Tony Blair became Prime Minister that things began to fall into place. Britain’s George Mitchell held the skill and patience necessary to help Northern Ireland peace talks lead to the Good Friday Agreement.Show MoreRelatedThe Tensions Between Northern Ireland And Ireland1245 Words   |  5 Pages The Troubles was a time period of revolt and discrimination in Northern Ireland that lasted from the late 1960s until 1998, beginning with direct British involvement in Northern Ireland and formally ending with the Good Friday Agreement. However, it can be argued that the tension that persisted during The Troubles still exists today. The Troubles stemmed from the dissolution of a long period of peaceful tension between two political groups, the Nationalists and Unionists and by extension two majorRead MoreEssay on Northern Ireland1704 Words   |  7 PagesNorthern Ireland A world of hate supports many conflicts in modern society. Strings of hatred entangle all walks of life. Oftentimes, the most disheartening part of most ongoing hatred is the fact that the people involved do not even know how it began. Since 1170, nothing but hatred, intolerance, and death has surrounding the culture of Northern Ireland. Northern Ireland is a land rich in tradition and pride; the same pride sustains the separation of the Protestants and the Catholics. Read MoreThe Impact of Bloody Sunday on Northern Ireland Essay1826 Words   |  8 PagesThe Impact of Bloody Sunday on Northern Ireland Bloody Sunday has made a very big impact on Irelandand events occurring there since 1972. According to Lord Widgery, the soldiers acted in self-defence, therefore it was not their fault and could not be blamed. Republicans were very annoyed by this verdict, so in 1998 a new inquiry was started called The Saville Inquiry. The inquiry has so far cost  £130m. The final cost will be in the region of  £150m. An estimatedRead MoreThe Northern Ireland Conflict1906 Words   |  8 PagesThe Northern Ireland Conflict Esteemed members of the Board, in this report I intend to convincingly show you that the borders in question absolutely need to be redrawn. The borders I speak of are those of the British oppression of Northern Ireland. For years upon years the British have possessed political control over the people of Northern Ireland. I will make it obvious to you that the strong Catholic religion throughout Northern Ireland has forced the people to oppose British controlRead MoreThe Northern Ireland Marching Season2307 Words   |  10 PagesThe Northern Ireland Marching Season The marching season is where the Protestants of Ireland celebrate William of Oranges victory in the Battle of the Boyne by marching through Northern Ireland via some Catholic areas. These marches take place in July of every year and are usually peaceful. But sometimes they are violent. There are a number of possible reasons why there is a tension between the two communities over the marches, for example land, religion, politicsRead MoreThe Arguments For And Against Northern Ireland2162 Words   |  9 PagesDiscuss the arguments for and against Northern Ireland continuing to develop event tourism. The Troubles in Northern Ireland; a time of political, social and economic unrest. A time when terrorism was all too common, and people were afraid to leave their homes. Fast forward forty years, and sixteen years after the signing of the Good Friday Agreement, and Northern Ireland seems to have flourished to become a well-recognised tourist destination. According to Devine and Carruthers (2014) ‘Today, eventsRead MoreTerrorism and Riots in Northern Ireland 509 Words   |  2 PagesNorthern Ireland is known for its humor, its accent, beautiful green hills, and their weather. Although Ireland seems peaceful, more violence happens in the north then you would think. There is terrorism and riots by the IRA used to prevent the British Catholics from trying to change the island of Ireland to a catholic country. All this violence started with the Act of Union over 200 years ago. In Ireland and Great Britain in 1801, the British and Irish governments passed the Act of Union, combiningRead MoreThe Problems of Northern Ireland Essay1925 Words   |  8 PagesThe Problems of Northern Ireland Northern Ireland is part of Ireland which is the most western part in Europe. It is a small place with a population of 1.5 million and is no larger than Yorkshire. It has been the centre of media attention because of a conflict between the people of the province. Many people have been killed there and in the years 1968-1994 over three thousand died. Northern Ireland is ruled by the British parliament in London where as the republicRead MoreImpact Of Drugs On Northern Ireland912 Words   |  4 Pages Impacts of drugs on Northern Ireland Northern Ireland has had a long and hard history with violence and oppression. For generations the people of Ireland have been at war with them selves, this has caused lots of damage to the overall health of Ireland. The violence now is at an all time low, meaning that this is the ideal time for Ireland to look at what harm, both mental and physical, the years of violence has caused. The Irish people have always been known as drinkers of alcohol, this has beenRead MoreThe Short and Long Term Effects of the Hunger-Strikes in Northern Ireland2258 Words   |  10 PagesLong Term Effects of the Hunger-Strikes in Northern Ireland The hunger-strikes of 1980 and 1981 had highly significant consequences for Northern Ireland nationally and internationally. While at first they polarised the community, they eventually led to the beginnings of peace in Northern Ireland. Soon after Direct Rule was introduced in Northern Ireland in March 1972 Westminster created a new department, the Northern Ireland Office, which had responsibility for Irelandwhile

Influence Of Cognitive Biases On Decisions - 1142 Words

The influence of cognitive biases on decisions Society once had a conjecture that only discriminatory people used stereotypes, however, studies in unconscious bias now reveal that we all are guilty of using stereotypes, all the time, without knowing it. Finally, the antagonist of equality has been found, and it is us. With a limited perspective, we all have a bias view of the world, this is because we are only capable of hearing, seeing, and reading what is around us. A definitive version of reality is not subject to one person. Our position in society helps inform our world view, such as, our race, class, gender, religion, and culture, impacting how we view, respond and react to every experience. Often times, decision makers or not aware of their bias, which can effect the decisions being made. To begin, I will define stereotyping as it is expressed in modern society and the impact of mass media, then I will explain the process of storing stereotypes in the brain, I will give a theory of why man-kind stereotypes, and then expla in how it effects decision making. Stereotyping is one of many cognitive bias, that allows us to quickly identify strangers as friends or enemies, and with the use of stereotypes, we classify others as we interact with them, allowing us to know the proper way to respond (Lebowitz). The scientific definition of stereotyping is; an exaggerated belief, image or distorted truth about a person or group. A generalization that allows for little or noShow MoreRelatedCognitive Biases Are An Influence On An Individuals Method Of Decision Making1848 Words   |  8 PagesIt is known that cognitive biases are an influence to an individuals method of decision making. ‘Cognitive biases’ are the tendencies to think in certain and specific ways which could lead to systematic reasons to a standard of rationality or good or bad judgement. ‘Decisions’ are the acts or processes of deciding out of question or doubt, determination, making a judgement or the act for making up one’s mind to conclude to a selection of choices. ‘Conscious and controlled decisions’ are when an individualRead MoreDoes Cognitive Bias Influence The Patterns We Exist?1529 Words   |  7 Pages My knowledge question is to what extent does cognitive bias influence the patterns we see in life? Cognitive bias is defined as pattern of distortion in perception and a deviation from rational decision; irrationality Decision-making, belief and behavioral biases. If a person was to look into human sciences and mathematics as ways of knowing, he or she would determine that cognitive bias is present every time a person sees a pattern. However, they are unable toRead MoreEffective Appraisal Approaches And Its Influence On Investment Decision Making1441 Words   |  6 Pagespurchase of equipment or inventory by owner in order to improve future business. (Kahraman, 2011) Moreover, the part of decision-making acts a crucial role in business investment that depends upon the investor’s profit expectation, the availability to finance the investment and the potential cost of assets. (Virlics, 2013) However, risk and uncertainty are the basic terms to the decision-making framework. Ris k can be defined as the probability of outcomes or loss that is caused by internal or externalRead MoreEffective Appraisal Approaches And Its Influence On Investment Decision Making1419 Words   |  6 Pagespurchase of equipment or inventory by owner in order to improve future business. (Kahraman, 2011) Moreover, the part of decision-making preforms a crucial role in business investment that depends upon the investor’s profit expectation, the availability to finance the investment and the potential cost of asset. (Virlics, 2013) However, risk and uncertainty are the basic terms to the decision-making framework. Risk can be defined as the probability or threat of outcomes or loss that is caused by internalRead MoreRetrospective Analysis of Personality1043 Words   |  5 Pagesand molds them as we learn and mature. That’s it, right? Ha! The nature vs nurture debate still rages on, as scientist fight over how much of who we are is shaped by genes and how much by the env ironment. The nurture theory holds that genetic influence over abstract traits may exist; however, the environmental factors are the real origins of our behavior. This includes the use of conditioning in order to induce a new behavior to a child, or alter an unlikely behavior being shown by the child. AccordingRead MoreThe Problem Of Dealing With Biased Decision Making1387 Words   |  6 Pagesas an integral part of the organization’s selection and recruitment processes, yet when meeting someone for the first time, our initial judgments are often clouded by biases (Rockawin, 2012). The following essay will explore the problem of dealing with biased decision-making in job interviews which is defined as the cognitive biases which are flaws in judgments that occurs in particular situations as a result of flawed perception of incoming information. (Hua, 2011). The â€Å"employment interview is aRead MoreDecision Making820 Words   |  4 PagesQuestion 1: Which biases in decisi on making can be identified in the performances of both Pieterson and Gack? How can the identified biases be overcome? In general, the decision making style for manager approach decision making is toward rational and intuitive thinking. In rational thinking a person consider the problem in a rational, step-by-step and analytical way. Rational thinking person will resolve a complex and complicated problem into smaller part and then resolve them in a rational,Read More The Nature of Logic and Perception Essay698 Words   |  3 Pagesunderstand, what we do and how we think. How did we come to a certain conclusion or perception? This paper will explain the nature of logic to critical thinking. Also covered will be my own perceptual process and a description of the types of blocks that influence my views. It is the ability to hone the thinking skills necessary to become a well-rounded contributor to a society or an organization. The nature of logic to critical thinking begins at an early age. From the time one learns the difference betweenRead MoreBiological Factors Affecting Decision Making Essay736 Words   |  3 PagesBiological Factors affecting decision we made. There are many of factors influencing your decision making process either in a positive or a negative way. In addition to what is already determined by your genes, according to various sources the following biological and psychological factors play an important role. Biological factors ï‚ § Nutrition is essential for organs to develop (building material), but also to let it operate (fuel). On average, as much as 25% of all energy a human daily takes inRead MoreFrancis Simonh M. Bries (2012-24817, Ma Psychology). Psychology1704 Words   |  7 PagesHumans, with all things being equal, could not be bothered to think deeper than what can be concluded using learned shortcuts and easily accessed information. The latter heuristic processing is preferred in most situations as it does not require cognitive effort because of its automaticity yet nevertheless arriving at good-enough conclusions that would work in most instances. It is when people are motivated and have the ability to consider information more deeply that they engage in systematic processing

Why are Keralans better of than other Indians Free Essays

There are many reasons why the people in Kerala have a better standard of living than in other Indian states. Some of the reasons are to do with nature and some are to do with human decisions. The State of Kerala is good for farming. We will write a custom essay sample on Why are Keralans better of than other Indians? or any similar topic only for you Order Now There are many natural advantages, for example large amounts of precipitation, with 120-140 rainy days per year, Kerala has a wet, tropical climate, consequently making the soil incredibly fertile. The climate is very humid and wet, which is perfect to grow crops. A map of India: The government of Kerala made some unusual decisions about how to run the state. They introduced ‘land reform,’ which basically means the government give every family one hectare of land each. The government prevent the rich to own more then 10 hectares by buying the land off them, as a result everyone gets an opportunity to own something, this then gives the poor starting points to earn money, whereas in other Indian states the poor stay poor because they do not receive the level of help required. Over 1.5 million homeless families benefited from land reform. Land reform Meant Keralans could grow food on their properties for consumption (for survival) and sell it for a better standard of living. Many Keralans have stopped growing only rice and now have a greater variety of crops. Keralans now grow tapioca, ginger, banana’s and coconuts. Farmers sell less rice because the rice from the state of Tamil Nadu is significantly cheaper because the workers get paid a considerably smaller wage. Keralans want to grow more profitable crops to be able to pay for after school classes for their children. Growing one hectare of rice gets only 25, 000 rupees but growing coconuts make 50, 000 rupees. Coconut palms, as an example, have many different uses. Coconuts can be used sell or consume, (ear or drink the juices). Used to make cosmetics, fuel for cooking, the residue from making oil is used for cattle food. Coconuts are useful for making mats and ropes. Coconut leaves are used to thatch roofs. Keralans are better educated than other Indians. Keralans are given free education, I personally think this is a beneficial idea to educate the children because they are the future, the Keralans are thinking about the long-term effects of a free education whereas the other Indian states do not give education unless the citizens give money. The Keralan government provide free education, however the classes are exceptionally large, as a result the children would not get the right amount of education necessary. This is why parents work hard on farms to produce the best quality of crops. Selling as much as possible and getting the largest possible yield means more money, that way the children have a better chance of doing well academically. Well educated Keralans get the opportunity to work abroad as they get more money this way, hence, wages for farm labourers are higher in Kerala than in the neighbouring state of Tamil Nadu, as fewer workers are available. Money is sent home from abroad, for that reason, the Keralans have money to spend, they can afford manufactured goods and this encourages new businesses to start up. New jobs means more jobs available in Kerala other than farming which is very hard and tiring. Parents do not want their children to do that. People with jobs have a better standard of living. This all leads to a developed, better state for the people of Kerala to live in. I think that the state of Kerala is more developed than other parts of India because they can afford to spend money on manufactured goods, meaning more businesses are likely to start up. Because of this new jobs are available for the children that are not very intelligent or that did badly at school. The Keralan government realise that educating children is a necessity because when they are old and ill and need a doctor it will be one of those children, so in the future everyone benefits from this. How to cite Why are Keralans better of than other Indians?, Papers

Managing Across Border International Business

Question: Discuss about theManaging Across Borderfor International Business. Answer: Introduction This report is focused on the study of outsourcing concept in international business. Outsourcing is used by many companies, as it helps to reduce cost of business by assigning work to another company or agency offering outsourcing services in specific field of business. There are various types of outsourcing projects in the international business like IT, manufacturing, sales, finance and human resource. Outsourcing plays an important role in international business. Outsourcing is helpful for the business, as it helps to pays more attention on core business objective and goals to the company. Further, this report critically evaluates the advantage and disadvantage of the outsourcing decisions in the business. Every business has to follow formal process to implement the outsourcing business decisions. Different steps of this process include strategy, selection, negotiation, implementation, management and completion. The report also focuses on challenges of outsourcing decisions and t he ways in which challenges can be mitigated. Outsourcing: Outsourcing is also called as business process outsourcing, which is used by various companies to decrease cost of business by transferring their work to outside people or supplier instead of doing it internally. It is a cost reducing strategy for the business when applied in a systematic manner. Sometimes, it can be affordable to buy products from companies as compared to produce the goods internally. Further, when business requires skills and expertise, which they do not have in their company, they transfer their work to another people or businesses to solve complete their work (Crize, 2014). In general, the term outsourcing means going out to get the source of what you require in the business. These days many businesses provide outsourcing for what companies require for serving the people. For an example: Dell buys some of computer part from another company to reduce its production cost. Outsourcing has many advantages like outsourcing allows organizations to find the experts for their specific works. A company can enjoy various advantages with outsourcing like capital improvement, wealth maximization and profit maximization. Along with this, the outsourcing business strategies are generally cheaper reducing cost and risk in business. Different Types of Outsourcing Decision in International Business Outsourcing strategy is helpful for taking quality decision-making in organizations for todays market scenario in the world. Organizations in international business are using the outsourcing contracts for different kinds of business needs on long-term basis for managing the particular department of the organization. The work of different departments in companies at international business platform is outsourced such as IT, Manufacturing, Sales, Human Resource and many more. The outsourcing firms are working on behalf of the same industry. Different types of outsourcing are taken for enhancing cost efficiency of company (Pamela et.al, 2015). The out-sourcing decisions are also taken for peripheral business activities, critical activities and strategic and problem-solving activities or core competence activities. Example of peripheral activitys outsourcing involve outsourcing of canteen, medical facilities to employees, transport facilities etc. If the company is outsourcing these activ ities, company will have enough time to contribute more focus on core objective of the company. On the other side, example of critical activities is the IT department of the company. Outsourcing of these activities will be helpful to more focus on other important departments of the company. For IT department, companies may need to outsource another firm for handling back of security data, total management facilities, internal audit and data processing of organization (Elizabeth, 2012). It is the example for critical activity outsourcing. Lastly, strategic and problem-solving activities are also outsourced by different organizations. For handling these problems, outsources firm (i.e. business consultants) appoints the person (with experience in the industry) for handling the problematic situations. Strategic problem may be related to different strategies adopted by the organization for the development of business. For example: For problem solving purpose in the organization, an outso urcing contract can be taken into action to know how it can see the issue related to the dispute between the employee and employer in organization (Douglas and Scott, 2012). For, resolve these problems company can also open a grievance handling cell as an alternative to outsourcing, but it may impose higher costs on business. What is the Role of Outsourcing Decisions in International Business? Every organization has the need to list out the reasons for taking outsourcing decision before stake-holders of company. Outsourcing decision is concerned about the subject matter and objective of the organization. Owner of the company will discuss its plan with different departments of the company and will do a cost benefit study of the outsourcing decision (Ian, 2012). Then the management will finalize the outsourcing decision based on the requirements of the organization. However, company will also coordinate with the employees of the company if they have any issues from the outsourcing decision. If the company takes wrong decision for outsourcing, then all the money and time will be wasted. Outsourcing is helpful for the organization, as it enables management if company to pays more attention of the others important operations of the company. Further, the organization decides to take the outsourcing decision for reducing the cost of the business (llan et.al, 2011). For example, the manufacturing of specific equipment of computers causes higher capital and efforts rather it can be outsourced for lesser amount. Therefore, outsourcing firm which the organization has given the contract will be responsible for manufacturing related issues for the specific equipment. It will helpful for the company to give more focus on others core competencies of the business. There are various business operations, if the organizations plan to implement these all by their own, the cost of business will be very high. Most of organizations at international level like banking firms, retail organizations, technology firms (like HP, Dell etc) outsource their customer care operations due to cost benefits. In case, the organizations set-up their own CSR department, it will cause costly to the company. At international business platform, it is not easy for a business entity to conduct recruitment operations smoothly due to differences of cultural, demographic and national backgrounds (Stephanie, 2012). In this situation, the outsourcing of HR proved to be productive to the companies. The outsourcing strategy is also helpful to MNCs to avail bus/transport services for their staff. The set-up of new transport department can be highly cost enhancer for the companies. Similarly, the outsourcing decisions are effective in the field of canteen facilities, security servi ces etc. Outsourcing is better option, because the same services are carried out in organization by experts in the field of service. Advantage of Outsourcing Decision Outsourcing project provides various advantages to both parties (i.e. company and outsourced vendors). The outsourcing has established a new form of business for major entrepreneurs. The major benefit of outsourcing to company is the cost and time saving in business. Few companies provide their work to other countries. They get their work done at a lower cost with better quality as compared to their own country (Schniederjans et al, 2015). Quality of work is high which ensures that low cost does not provide low quality in the work. Outsourcing eliminates the requirement of infrastructure and any equipment in the business. Outsourcing work provider also takes the responsibilities to develop infrastructure required for accomplishment of assigned work. Companies do not need to invest capital in training and recruiting of employees for their business. Outsourcing provider has the responsibility to hire/recruit and train candidates to complete their assigned work. One of the greatest bene fits of outsourcing is risk sharing in business. Through outsourcing a company can shift certain risk or obligations to outsourced vendor. Further, outsourced vendor also get responsibility with outsourcing work (Rothaermel, 2015). Outsourced vendor takes responsibilities to get work done at the right time with right accuracy. If the outsourced company does not complete work in that situation they also have to face loss in the business. Disadvantage of Outsourcing Decision A major disadvantage of outsourcing is that the companies have to disclose their secrets of the business with outsourced vendor. In addition to this, they have to pass other information like client information, login information, and business process (Dinu, 2015). Therefore, outsourced vendor is able to implement on provided work. Outsourcing company has always risk related to loss of reputation and secrets of his business. Along with this, companies are dependent on the outsourced vendors. If outsourced vendors service will go down or if their outsourcing project price will increase, the company will get loss or company will be closed due to lack of project. Apart from this, there is another disadvantage of outsource strategy, that the outsourced vendor shall have control on companys management. The company management has to lose control from outsourced department or operation (Prakken, 2012). But, the outsourced vendor will need to follow rules and regulations of company, to maintain infrastructure and to recruit people according to their requirement policies. When a company makes a contract with an outsourced vendor, various information and detail can be hidden. Few charges are hidden, which is not included in a contract like legal fees of a lawyer or making a contract with other countries company. An outsourced vendor provides specific work to other companies. Under this situation, the company just focuses on their work rather than customers satisfaction. In many cases, the outsourcing company does not get employees for outsourcing work due to lack understanding of organization culture. Sometime, the company hires employees, who do not have knowledge about work and culture of the company. Apart from this, it affects the performance of the business, because the company does not have fit employees according to the requirement of business or work. In that condition business entity will not get success or cannot sustain in the international as well as in local markets. What are Formal Steps of Implementation of Outsourcing Decision? The outsourcing decision has a specific process and path. A successful outsourcing decision is beneficial and costs saving for the business. It focuses on process improvement, core business, reduces time, expansion of business and cost containment (Boguslauskas and Kvedaravi?ien?, 2015). The formal process of outsourcing includes various steps, the detail of which is discussed as below: Strategy: It is the first phase, where senior level management takes decision to measure and reviewed to outsourcing project. It is the part of long-term strategy to get maximum profit and to concentrate on core competencies. This kind of decision can be for a particular project, program and operation. At this, step a strategy of outsourcing for organization is framed. Selection: Under this step, the company explores different vendors providing outsourcing service in required business segment and selects the most appropriate vendor for outsourcing work. The company requests information about the project or proposal process and finally selects the best fit project vendor. There are a various process in the selecting phase like defining the work, sourcing the vendor and selecting the vendor. Negotiation: Negotiation is a method in which two or more person settle differences. Negotiation is an approach, which is used for business deal and decision-making. Further, two phases are involved in negotiation process, viz. first negotiating the contract and second is signing the contract. Under this step of negotiation, the management of company negotiates with vendor providing outsourcing facilities with regards to different aspects of the contract. Implementation: This step involves the function of implementation on the outsourced agreement. Also, it includes generating the administrative activities which are a need for their management. The three major functions involved in the implementation steps are planning the transition, preparing the budget, and launching the program. Management: This step focuses on all activities, which are required to manage the outsourcing project and achieve the decided results. There are various activities which come in management activities such as managing the customer, managing the partnership or relationship with outsourced vendor, monitoring project, and negotiating changes in the project. Completion: It is the final phase of outsourcing, which includes close out function for the project. The two major functions of this step are completion of the contract and closing out the project. Challenges Faced by Organizations with Outsourcing Decisions Beyond benefits offered by outsourcing, there are also many challenges with the outsourcing strategy. The challenges are faced irrespective of how well the planning is made, budgeted and staffed. Culture difference at international level is challenge that is faced in the organization like work culture differences between both parties and differences between national culture, which are uncontrollable nowadays. Further, clashes in the work culture can create conflicts in the organization (Done, 2012). Results of culture difference may impact output standards, decision-making qualty, and operational techniques in the organization. On the other hand, the organization also has to face nation culture difference like understanding and language barriers. There is no another solution instead of creating a strong relationship between the employees and outsourcing vendors. Participation of client leader is important because they analyze the output. Lack of leaders participation will result in slow progress or failed project. Further, client leaders must have dialogues between the service provider and the organization. An organization expects and believes that outsourced vendor will take care of everything. Therefore, the organization keeps high expectation from the outsourced vendor (Brown and Wilson, 2012). If the outsourced vendor does not fulfill their expectation, then it can create conflict. Due to this, client can become frustrated and disappointed. On the other hand, besides the cost of outsourcing work, the client must focus on the risk, which comes with the project. Both outsourced vendor and client determine s the goals and objective of the project according to prepared strategy, which helps to face challenges of the organization. Ways/strategies to Mitigate the Challenges Use An Effective Outsourcing Model: It is very important element in implementing an outsourcing strategy, that the companies should utilize an effective outsourcing model. The use of model should be fit in organization according to their needs and opportunity to achieve objectives and goals. Further, outsourcing model can be divers, numerous and complex as the organization and outsourced vendor that utilize them (Mclvor, 2010). An outsourcing model has various variables such as contractual flexibility, distribution of responsibility, duration and scope. But main variable of outsourcing model is the distribution of responsibility between the outsourcing vendor and the company. Start Slowly, Build Gradually: Senior management of the organization should not focus on strategy on quickly to get success. Further, this decision should be decided according to successive outsourcing project. Companies should make sure and should take enough time to generate a solid foundation for their business (Blackthorn, 2015). Business firms may not think to get success/achievement by first outsourcing project. Both parties (i.e. company and outsourcing vendor) work together in outsourcing project therefore company should make a good relationship with outsourced vendor to achieve the objective and goals of the business. Count the Costs: It is also important to set-up realistic expectation, because the expectations are included in the cost of outsourcing. Senior management has to face implication to cut costs while hiring of skilled labor. The company has to add hidden cost in their actual work like the selection of a vendor, transitioning work, dealing with cultural differences, infrastructure and communication costs. Some hidden cost can be above 20-30 percent in outsourcing contract. In addition to this, company can minimize these costs with a right approach and management system. It is the best way to centralize the cost instead of distributing costs. It stimulates project to get the benefit of cost saving by reduced expenses. Understanding and Management of the Risks: It is not enough to make a list of risk that are expected to be present in the business, rather companies require to give priorities to manage risks which is based on anticipated impacts. In addition to this, if risks appear in the business, the company should act fast to execute the mitigation strategy to eliminate that particular risk. Set Realistic Expectations: After making objective and goals, the company requires revisiting objective and goals to make clear that they are realistic or not. It is important for the company to set its objectives (both business objectives and objectives behind major outsourcing decisions) realistic. They should focus on vendor selection cost, infrastructure, hidden cost, and lesson learned to measure profit. A realistic set of expectation enables companies to have more realistic picture of the growth and stability of the business. Return on investment calculation brings at one place, which helps to predict how these all variable will contribute in the business. Unrealistic expectation can spoil outsourcing work and cost which is invested in the business. Apart from this, a set of realistic expectation helps to support strategy. In simple form, return on investment shows how much an organization should invest in the business. Define Clear Objective: A successful outsourcing strategy starts with measurable objective and goals. Objective describes the reason of making a program, providing a framework of working, illuminating business value to make a decision (Boguslauskas and Kvedaravi?ien?, 2015). It also discusses that which outsourcing model should be used, what project should be outsourced. The objective states the context to analyze the degree of success or un-success chances of the strategy. Apart from this, it is also important for the organization that outsourcing is not a solution to every business problem. A strategy without any business objectives and goals may lead to ambiguous results and management planning. This way, the outsourcing decision needs to be taken with smart and intelligent discussion in organization. Conclusion From the above analysis, outsourcing occurs in the market, when a company provides work to another people or company rather than doing it internally to reduce cost of the organization. It is also cheaper in order of reducing cost and risk, and salaries. Apart from this, it also plays an important role in international business. Company follows a process to implement outsourcing project to get decided result. Outsourcing project has various advantage like risk sharing, cost advantage, saving cost of infrastructure and technology. On the other hand it also has various disadvantages like Loss of Confidentiality, Dependence on the outsourced vendor, Loss of managerial control, Hidden cost and Lack of customer focus. Companies are also facing many challenges in outsourcing project decision like Culture difference and Participation of client leader. To mitigate the challenge of outsourcing decision companies need to focus on various points like define clear objective, understand the manage ment risk, count the cost in advance , use an effective outsourcing model and Start slowly, build gradually. References Abbott,P.,Zheng,Y.,and Du,R.(2015) Collabration of learning and innovation across outsource services value network.UK: Springer. Blackthorn, D. (2015) What strategies do companies use to mitigate risks with offshore outsourcing?. [Online]. Available at: https://www.quora.com/What-strategies-do-companies-use-to-mitigate-risks-with-offshore-outsourcing (Accessed: 8 December 2016). 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