The Functions of Management Essay Example

The Functions of Management Essay Describe the function of planning and its importance in the strategic management process. Planning Strategic Management planning, which we previously defined as setting goals and deciding how to achieve them. Another definition: Planning is coping with uncertainty by formulating future courses of action to achieve specified results. Tragic management is a process that involves managers from all parts of the organization-top managers, middle managers, and first-line managers-in the ruination, Implementation, and execution of strategies and strategic goals to advance the purposes of the organization. Thus, planning covers not only strategic planning (done by top managers) but also tactical planning (done by middle managers) and operational planning (done by first- line managers). Planning and strategic management derive from an organizations mission and vision about itself. How Planning Helps You: Four Benefits: Planning Helps You Check on Your Progress . Planning Helps You Coordinate Activities. Planning Helps You Think Ahead. Above All, Planning Helps You Cope with Uncertainty. Discuss the functions and purpose of an organizations vision and mission statement in planning. The planning process begins with two attributes: a mission statement (which answers the question What is our reason for being? ) and a vision statement (which answers the question What do we want to become? ). The Mission Statement-What Is Our Reason for Being? An organizations Nilsson Is Its purpose or reason for being. Determining the mission Is the responsibility of top management and the board of directors. We will write a custom essay sample on The Functions of Management specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Functions of Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Functions of Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer It Is up to them to formulate a Nilsson statement, which expresses the purpose of the organization. Ascribing what an organization wants to become. It is a clear sense of the future and the actions needed to get there. After formulating a mission statement, top managers need to develop a vision statement, which expresses what the organization should become, where it wants to go strategically. 3- Provide a brief statement explaining SMART goals and the process of Management By Objectives (MOB). SMART Goals is one that is Specific, Measurable, Attainable, Results-oriented, and has Target dates. Specific: Goals should be stated in specific rather than vague terms. The goal that As any planes as possible should arrive on time is too general. The goal that Ninety percent of planes should arrive within 15 minutes of the scheduled arrival time is specific. Measurable: Whenever possible, goals should be measurable, or quantifiable (as in 90% of planes should arrive within 15 minutes ). That is, there should be some way to measure the degree to which a goal has been reached . If course, some goals-such as those concerned with improving quality-are not precisely quantifiable. In that case, something on the order of improve the quality of customer elations by instituting 10 follow up telephone calls every week will do. You can certainly quantify how many follow-up phone calls were made. Attainable: Goals should be challenging, of course, but above all they should be realistic and attainable. It may be best to set goals that are quite ambitious so as to challenge people to meet high standards. Always, however, the goals should be achievable within the scope of the time, equipment, and financial support available. Results-oriented: Only a few goals should be chosen-say, five for any work unit. And hey should be results-oriented-they should support the organizations vision. In writing out the goals, start with the word To and follow it with action-oriented verbs-complete, acquire, increase (to decrease by 1 0% the time to get passengers settled in their seats before departure). Some verbs should not be used in your goal statement because they imply activities-the tactics used to accomplish goals (such as having baggage handlers waiting). For example, you should not use to develop, to conduct, to implement. Target dates: Goals should specify the target dates or deadline dates when they are o be attained. For example, its unrealistic to expect an airline to improve its on-time arrivals by 1 0% overnight. However, you could set a target date-3 to 6 months away, say-by which this goal is to be achieved. That allows enough time for lower-level managers and employees to revamp their systems and work habits and gives them a clear time frame in which they know what they are expected to do. Management by objectives (MOB) is a four-step process in which: (1) Managers and employees Jointly set objectives for the employee. (2) Managers develop action plans. 3) Managers and employees periodically review the employees performance. 4) The manager makes a performance appraisal and rewards the employee according Jointly Set Objectives. Develop Action Plan. Periodically Review Performance. Give Performance Appraisal Rewards, If Any. 4- Produce a two page paper that addresses the above action items. Planning Strategic Management formulation, implementation, and execution of strategies and strategic goals to The planning process begins with two attributes: a mission statement (which answers the question What is our reason for being? ) and a vision statement (which answers the question What do we want to become? ). The Mission Statement-What Is Our Reason for Being? An organizations mission is its purpose or reason for being. Determining the mission is the responsibility of top management and the board of directors. It is up to them to formulate a mission The Vision Statement-What Do We Want to Become? A vision is a long-term goal SMART Goals is one that is Specific, Measurable, Attainable, Results-oriented, and has Target dates. Many planes as possible should arrive on time is too general. Measurable: That is, there should be some way to measure the degree to which a AOL has been reached . Attainable: Goals should be challenging, It may be best to set goals that are quite ambitious so as to challenge people to meet high standards. Always, however, the goals should be achievable within the scope of the time, equipment, and financial support available. They should be results-oriented-they should support the organizations vision. Arrivals by 1 0% overnight. Management by objectives (MOB) is a four-step process in which: (1) Managers and employees Jointly set objectives for the employee. (2) Managers develop action plans. To results. The four steps of MOB : You sit down with your manager and the two of you Jointly set objectives for you to attain. Later you do the same with each of your own subordinates. Develop Action Plan. Once objectives are set, managers at each level should prepare an action plan for attaining them. Periodically Review Performance. You and your manager should meet reasonably often-either informally as needed or formally every 3 months-to review progress, as should you and your subordinates. At the end of 6 or 12 months, you and your subordinate should meet to discuss results, comparing performance with initial objectives.

Legalize drugs essays

Legalize drugs essays Illegal drugs influence people every day of their lives. Illegal drugs affect people whether they are users themselves, drug dealers, victims of drug-related crime, or dealing with a friend or family members addiction Illegal drugs influence people every day of their lives. Illegal drugs affect people whether they are users themselves, drug dealers, victims of drug-related crime, or dealing with a friend or family members addiction. Drugs are unhealthy and unsafe; however, prohibition is not the answer to the countrys drug problem. The United States should consider legalizing drugs and ending drug prohibition. There are several reasons to legalize drugs in the United States. Drugs should be legalized to save money, to make them safer, and to reduce drug-related crime. . Drugs are unhealthy and unsafe; however, prohibition is not the answer to the countrys drug problem. The United States should consider legalizing drugs and ending drug prohibition. There are several reasons to legalize drugs in the United States. Drugs should be legalized to save money, to make them safer, and to reduce drug-related crime. First of all, drugs should be legalized to save money. The United States spends billions of dollars every year fighting an unsuccessful drug war. The United States should legalize drugs, tax them, and save billions of dollars as an alternative. Taxes collected from legalized drug sales could be used to fund many government programs. The money could be used for treatment programs to get users off drugs and education programs to prevent children and others from using drugs in the first place. As a replacement for building and funding prisons for inmates convicted of drug-related crimes, the money could be used to build schools and fund the educational needs of children. This is how the country would save money if drugs were legalized. Second, drugs should be legalized to make them safer. Legalized drugs...

Tax Accounting II Case Essay Example | Topics and Well Written Essays - 500 words

Tax Accounting II Case - Essay Example Schneider as his tax professional in the latest filing of his income tax returns.1 The accountant may be considered to have knowledge of things done in the past about deducting the cost of artwork as part of deductible expenses. As to whether there could be tax assessment by IRS because of possibly underreported income due to higher reported expenses in the past, the same should be viewed as tax avoidance because there was really no intention to avoid or cheat on taxes. Moreover, it could be inferred from the case fact that claiming the cost of artworks as deductible business expense is allowed if treated or given as a kind of employee compensation.2 The difference between tax avoidance and tax evasion is that the former is legal as a way to reduce tax but the latter is against the law because there is an intention to defraud the government for the correct payment of taxes. In the case of Mr. Conor, he did not intend not to pay taxes, he claimed in good faith the cost artwork as business expense with the presumed knowledge of the accountant although the latter failed to object in previous years. In tax avoidance, which is a legitimate minimizing of taxes, the taxpayer should use methods approved by the IRS.3 Mr. Conor was only lacking in knowledge of method on how deduction could be made legitimate. Thus his CPA said that expense is allowed if given as employee compensation. It would have been tax evasion if Mr. Conor was not allowed at all to have claimed as expense the cost of artworks. The same would amount to reporting expenses that are not allowed and thereby understating income and the related tax. The fact also that half of the cost of artwork was now claimed in the latest tax return with the consent of the CPA should support the argument that the method used earlier was an allowed by and therefore a tax avoidance was more applicable than tax evasion.4 This researcher views that Mr. Schneider has not fully complied with the professional norms of

The Credit Crunch Literature review Example | Topics and Well Written Essays - 1000 words

The Credit Crunch - Literature review Example Due to its major significance, the term was included in the latest edition of the Concise Oxford English Dictionary, meaning "an economic condition in which it suddenly becomes difficult and expensive to borrow money" (Oxford University Press,n.d.). A credit crunch is characterized by a shortage of funds in the credit market, resulting in decreased possibilities for credit agreements and increased levels of official interest rates. Economist John Hull (2009) argues that the origins of the credit crunch (which started in the US) can be found in the housing market. "The U.S government was keen to encourage home ownership. Interest rates were low. Mortgage brokers and mortgage lenders found it attractive to do more business by relaxing their lending standards () Banks thought the "good times" would continue and () chose to ignore the housing bubble..." Simply put, people were spending more money than they actually had - an inconsistency that grows into what economists call a "bubble" - the inflation of global property prices. A vicious circle is formed - prices rise, causing the number of credits to rise as well, which in turn makes prices rise even more. At some point, a large number of credits started to default. Property prices began to drop and so the "bubble" burst. On a related note, Mizen (2008, p. 564) points out that the most recent credit crunch was preceded by a prosperous period, which generated a certain degree of carelessness throughout the economy. "Financial innovation had () introduced greater complexity, higher leverage, and weaker underlying assets based on subprime mortgages." Mizen defines a subprime mortgage as a riskier bank product - a loan given to a person with non-standard income or credit profile, which was often mispriced. They provide good returns, compared to other asset classes, and therefore receive high ratings. However, they are not as safe as they seemed because they are tied to house prices. When prices drop, foreclosures becom e more frequent. Losses escalated and banks took measures by lowering credit availability. White (2008, p. 2-3) states that "Borrowers with inadequate income relative to their debts, many of whom had either counted on being able to borrow against a higher house value in the future in order to help them meet their monthly mortgage payments, or on being able to "flip" the property at a price that would more than repay their mortgage, began to default. Default rates on nonprime mortgages rose to unexpected highs. The high risk on the mortgages came back to bite mortgage holders, the financial institutions to whom the monthly payments were owed. Financial institutions that had stocked up on junk mortgages and junk-mortgage-backed securities found their stock prices dropping. The worst cases, like Countrywide Financial, the investment banks Lehman Brothers and Merrill Lynch, and the government-sponsored mortgage purchasers Fannie Mae and Freddie Mac, went broke or had to find a last-minu te purchaser to avoid bankruptcy."

Reflection on Task Management in Nursing

Reflection on Task Management in Nursing Description: what happened. Whilst working on a medical ward with a senior staff nurse as a mentor, I identified certain competencies which needed achieving around management of care, and negotiated these with the mentor. Accordingly, the mentor suggested that I take charge of the patient workload we had been allocated for that shift, and both prioritise the care and nursing tasks, and also attend the ward round with the medical teams, providing the nurse liaison and taking the instructions from the consultants in relation to ongoing patient care and case management. Accordingly, I agreed on the prioritisation of patient tasks and allocated the workload to the members of staff in our team, and when the ward rounds began, my mentor and I attended. However, when the doctors communicated with us, they automatically addressed her, and although she turned to me to provide key information, they continued to chiefly communicate with her, and she did not correct this. Subsequently, she took charge of the ward rounds and I remained as an observer. At the end of the ward rounds, it should have been my role to take the instructions given and to implement them in changing care plans and in directing or implementing clinical tasks. However, my mentor continued to take charge of this for the rest of the time, giving me little opportunity to experience this aspect of the role for myself. Feelings There is a great sense of responsibility associated with management tasks, which extends beyond being responsible for individual patients to being responsible for a group of patients, and for the actions of some staff allocated to their care. I felt very strongly motivated towards achieving management competencies, but also very nervous and concerned that I would do this effectively without compromising patient care. I felt that I was achieving well under supervision until the ward rounds, where the mentor ‘took over’ and did not discuss why she had done this. I then felt as if I was unable to fulfil my competencies, and that I must have failed in some way because she did not allow me to continue in the role. Evaluation It was very positive to take charge of some management tasks and to complete these effectively. In particular, other staff responded well to me taking on this responsibility (in liaison with my mentor), and this positive feedback gave me more confidence to continue in this role. However, the way that my mentor just stepped in and took charge during the ward rounds undermined my confidence and was very challenging to deal with. I felt that I should have been more assertive at this point, but did not feel I had the confidence to do this. Analysis The acquisition of the complex skills associated with the staff nurse role have always been problematic (Gerrish, 2000). However, the literature seems to suggest that nurses are learning to perform this role in a rather haphazard manner,in the light of what they perceive to be inadequate preparation and lack of support (Gerrish, 2000). Bradshaw (1998) suggests that this is partly because nursing competency is only vaguely and broadly defined, which means that preparation and assessment of competency is both haphazard and unstructured. This also suggests there may be a potential safety hazard for both patient and nurse (Bradshaw, 1998). This would certainly seem to be the case here, where the inability to fully engage with management roles does not support the student in becoming competent. Baillie (1999) in an action research study of the topic found that preparation of students for their management role as staff nurses benefits from being closely linked to practical experience, with clear learning outcomes and supportive clinical staff. In this instance, staff were generally supportive, and clear learning outcomes set, but the mentor failed to follow through to meet these outcomes completely. This may have been because the mentor felt that there was a risk to patient care and safety, but this was not communicated to the student and there may have been other ways in which this could have been managed. However, there may be other reasons for this occurrence. Cahill (1996) in a small study found there to be a type of ward culture that not only separates those with knowledge from those who need to learn, but also reinforces the position of the student through both covert and overt mechanisms of control. If such a finding were applicable in this case, then it would suggest that the mentor may have been (consciously or subconsciously) reasserting her own authority and position of power and greater knowledge. The position of student nurses may also be such that they adhere to these cultural practices in order to ensure they receive a favourable report at the end of the placement (Cahill, 1996). Lofmark and Wikblad (2001), in a study of facilitating and obstructing factors for development of learning in clinical practice, found that responsibility and independence, opportunities to practise different tasks, and receiving feedback were facilitating factors for learning. In this case, it w ould appear that responsibility was offered, but not fully, and it is problematic to see how a student can achieve true independence whilst being supervised. In Lofmark and Wikblad’s (2001) study, other perceived promoting factors included perceptions of control of the situation and understanding of the total picture. Here it would have been useful perhaps if the staff nurse had explained to the student why she retained control and why she did not follow through on her promise to allow the student to take charge. Such behaviour was found in the Lofmark and Wikblad study to be one of the obstructing factors to learning, where the nurses as supervisors did not rely on the students. Other obstructing factors were supervision that lacked continuity and lack of opportunities to practise Lofmark and Wikblad, 2001). Perception of their own insufficiency and low self-reliance were drawbacks for some students (Lofmark and Wikblad, 2001), which is also true in this reflection, but these perceptions seem to be linked to the ways in which mentors and other staff perceive and interact with students. It also appears that the NMC Code of Conduct (2004) works both to support students here but also restricts their opportunities to engage in practice, due to the need to primarily protect and support the wellbeing of the patients. Conclusion The learning that has taken place here is vitally important for continued functioning and the acquisition of confidence as a staff nurse in future. Not only do ward cultures play a large part in student experiences, but relationships are the fundamental component of how nurses function in their environment. Some aspects of the nurse-mentor relationship, while perceived as challenging, may be necessary or inevitable, and it has not become clear to me through this reflection how this can be changed, other than to raise these issues honestly with mentors during initial and mid-point interviews to acknowledge them and how they will affect the learning experience. Action Plan Explore dimensions of the nurse-mentor relationship further Raise issues of independence, power and control during initial placement interviews. Seek out ways to develop management competencies through a variety of mechanisms and experiences. Identify communication issues and potential means of addressing them. Engage in more management activities, daily, until other staff members gain trust in my ability to fulfil these roles. Attend all ward rounds to gain confidence in this area. Engage in future cycles of reflection. References Baillie, M. (1999) Preparing adult branch students for their management role as staff nurses: an action research project. Journal of Nursing Management 7 (4), 225–234. Bradshaw, A. (1998) Defining competency in nursing: an analytical review. Journal of Clinical Nursing 7 (2), 103–111. Cahill, H.A. (1996) A qualitative analysis of student nurses experiences of mentorship Journal of Advanced Nursing 24 (4), 791–799. Gerrish, K. (2000) Still fumbling along? A comparative study of the newly qualified nurses perception of the transition from student to qualified nurse Journal of Advanced Nursing 32 (2), 473–480. LÃ ¶fmark,A. Wikblad, K. (2001) Facilitating and obstructing factors for development of learning in clinical practice: a student perspective Journal of Advanced Nursing 34 (1), 43–50. Nursing and Midwifery Council. (2004). The NMC Code of Professional Conduct: Standards for Conduct, Performance and Ethics . London. Nursing and Midwifery Council.

Bank of America Corp Essay

Bank of America Corporation supplies banking and non-banking financial services and products to individual customers and small and medium enterprises (SMEs) in the form of retail banking, larger corporations and government of the United States and even to international arena. The bank generates the savings accounts, money market savings accounts, checking accounts from the deposits segment. The Global Card services segment allows the US consumers with business cards, consumer lending and international debit card services. The Home Loans and Insurance segment offers it consumers with products and services related to real estate such as mortgage and home equity loans. The Global banking segment gives commercial loans, leasing, short-term loans, capital management and treasury solutions. The Global Markets solution provides advisory services, custody services and securities clearing. The bank’s Global Wealth and Investment Management segment caters to estate management, brokerage services, credit and banking expertise. The profit margin for the bank was 7. 05 percent in the past year. Bank of America has a $1. 5 trillion goal for community development lending focusing on affordable housing, SMEs, consumer financing and economic development in general. Global Consumer and Small Business Banking is the largest segment of the bank and focuses mostly on credit card issuance and consumer banking. This division has over 6200 retail branches and over 18700 ATMs over the US. The bank is also a member of Global ATM alliance- initiative taken by many banks to that enable the customers to use the ATM or check card with no fees. The organization also supplies its employees to buy hybrid vehicles and has an eco-friendly tower in Manhattan and even gives mortgage loan breaks to consumers whose homes pass as being energy efficient. The bank has even donated money for the health centers in Massachusetts and to the homeless shelters in Miami. JP Morgan Chase and Company: JP Morgan Chase provides a variety of financial services across the globe. There is the Investment bank segment for corporate strategy and structure, capital raising in equity and debt markets, risk management and provides the financial institutions, governments and corporations with institutional investors. There is Commercial banking segment that does lending, treasury services, cash management, trade and whole sale cards to SMEs and multinational companies. The Asset management segment provides wealth and investment management services to institutions as well as retail investors. Global investment management in equities, real estate, hedge funds, fixed income, money market instruments and banking deposits are also offered by the bank. The company has Retail financing services segment that caters to retail banking for the consumer through checking and savings accounts, mortgages, home equity and business loans and online banking and telephone banking. The Card Services segment provides the credit cards and keeps track of the credit payments processes. The profit margin for the latest fiscal year has been 19. 52 percent. Its consumer functions involve more than 3000 branches, 8500 ATMs and 270 mortgage offices. JP Morgan and Chase fared well compared to its peer in the credit crunch of 2007 and even though investment banking unit suffered and the bank even increased its loan reserves losses by $4. 3 billion. And even then the net income of the bank was 25 percent due to the growth in strong earnings of the bank’s credit card and commercial banking units. After the survival of the bank in such a tough scenario it has proven the effectiveness with which it has been offering the diverse array of financial services businesses. Citigroup and Inc: The company has two distinct segments: Citicorp and Citi Holdings. Citicorp is the global bank for the businesses plus the consumers and is divided into two main businesses namely: Regional consumer banking and institutional clients group. The regional consumer banking provides the conventional services of retail banking, cards and commercial banking on small-scale in North America, Latin America, Europe, Asia, the Middle East, and Africa. Catering to the securities and banking services such as investment banking, advisory services, lending, debt and equity sales, foreign exchange, institutional brokerage and treasury and trade solutions is the institutional clients group. Whereas the segment Citi Holdings has three businesses to look at: brokerage and asset management, local consumer lending and special asset pool. The brokerage and asset management division in a joint venture with Morgan and Stanley and provides retail brokerage and asset management services. The local consumer lending provides mortgage loans, personal loans, student loans, commercial real estate loans and even western European card. The special asset pool is a portfolio of securities, loans and other assets. The profit margin for the latest year has been negative 0. 84 percent. Citigroup is the sixteenth largest political campaign donator in the US according to Centre for Responsive politics. Citigroup even obtained naming rights as Citi Field to the home ballpark of the New Major League Baseball team in 2009. Recommendation: After research of the three banks, Citigroup has been the one to be involved in many scandals; ranging from financing Enron and alleged money laundering facilitation and even conducting biased research on the customers. Citigroup even disrupted the European bond market by selling a large amount of bonds and then buying them back a cheaper price. The organization has also been alleged of stealing money from its customers especially the poor and the recently deceased with an improper â€Å"sweep† feature in its computers. Hence it can be said that Citigroup has to go a long way in clearing its image with the consumers because now with the internet, they’re aware of everything and already Citigroup faces a lot of competition from its competitors. Reference: Winkler, Rolfe (August 21, 2009). â€Å"Big banks still hold regulators hostage†. Reuters, via Forbes. com (Retrieved August 21, 2010)

TLE cooking session

Follow the instructions of the teacher. 2. Stay with your group and avoid going to the other groups. 3. Assign each task to every member. 4. Prepare the materials and ingredients needed. 5. Wash your hands before cooking. 6. Wear apron and for the girls, they should tie their hair. 7. Handle the sharp materials with care to avoid accidents. 8. Clean your place after cooking. 9. use the materials according to Its functions. 10. Turn off faucets and stoves when not used.TOCINO Ingredients: 3 lbs boneless pork shoulder rost cup lemon-lime soda (sprite or 7 up) 1/3 cup of soy sauce 2 cups brown sugar 1 h cups pineapple juice h ketchup 1 tablespoon garlic, minced 2 tablespoons of salt 1 teaspoon of black pepper Procedures: 1 . Cut h Inch slices of pork shoulder and place In a one gallon zip-lock plastic bag. 2. In a separate bowl, mix the rest of the ingredients and then add to the meat. Seal the bag, while trying to remove excess air. Let the pork cure Inside the refrigerator for 4-5 day s, turning the bag over every day. . After curing, you can either cook the meat or portion them off Into smaller bags and freeze. 4. To cook the Toclno, add a little water, marinade and a few slices of meat to a skillet. Over medium heat, let the liquid boll off and then fry the meat for a couple of minutes to carmellze It. Make sure not to burn the meat. PICKLED VEGGIES WITH CHILLIES white radish 3 carrots 3 chillies 2 cups vinegar sugar 1. 1 lbs salt 1 OF2 1 . Slice the carrots and radish vertically. (finger size) 2. Slice the chillies diagonally. 3.Put all the vegetable in a container. 4. Add some salt and leave it for 5 minutes. 5. Squeeze the vegetables to release its mixtures. 6. Rinse it with water. 7. Put sugar and boil it. 8. Cool it off for 5 minutes. MANGO JAM Mango ascorbic acid water 1. Prepare the materials and the ingredients. 2. Slice the Mango. 3. Mix the Mango, sugar, and water. 4. After mixing, boil it and add 2 tablespoons of ascorbic acid. 5. Mix it until it bec omes sticky and golden brown. 6. After 20-15 minutes, get it and it is ready to serve.