History of 1924 Olympic Games in Paris

As an honor to the retiring IOC founder and president Pierre de Coubertin (and at his request) the 1924 Olympic Games were held in Paris. The 1924 Olympics, also known as the VIII Olympiad, were held from May 4 to July 27, 1924. These Olympics saw the introduction of the first Olympic Village and the first Closing Ceremony. Official Who Opened the Games: President Gaston DoumerguePerson Who Lit the Olympic Flame (This was not a tradition until the  1928 Olympic Games)Number of Athletes:  3,089 (2,954 men and 135 women)Number of Countries: 44Number of Events: 126 First Closing Ceremony Seeing the three flags raised at the end of the Olympics is one of the more memorable traditions of the Olympic Games and it started in 1924. The three flags are the official flag of the Olympic Games, the flag of the hosting country, and the flag of the country chosen to host the next Games. Paavo Nurmi Paavo Nurmi, the Flying Finn, dominated nearly all the running races at the 1924 Olympics. Often, called a superman, Nurmi won five gold medals at this Olympics, including in the 1,500-meter (set an Olympic record) and the 5,000-meter (set an Olympic record), which were only about an hour apart on that very hot July 10. Nurmi also won gold in the 10,000-meter cross-country run and as a member of the winning Finnish teams on the 3,000-meter relay and the 10,000-meter relay. Nurmi, known for keeping a very even pace (which he clocked on a stopwatch) and his seriousness, went on to win nine gold medals and three silver while competing in the 1920, 1924, and 1928 Olympics. Over his lifetime, he set 25 world records.   Remaining a popular figure in Finland, Nurmi was given the honor of lighting the Olympic flame at the 1952 Olympics in Helsinki and, from 1986 to 2002, appeared on the Finnish 10 markkaa banknote. Tarzan, the Swimmer Its pretty obvious that the public liked to see American swimmer Johnny Weissmuller with his shirt off. At the 1924 Olympics, Weissmuller won three gold medals: in the 100-meter freestyle, 400-meter freestyle, and the 4 x 200-meter relay. And a bronze medal as well as part of the water polo team.   Again at the 1928 Olympics, Weissmuller won two gold medals in swimming. However, what Johnny Weissmuller is most famous for is playing Tarzan in 12 different movies, made from 1932 to 1948. Chariots of Fire In 1981, the film Chariots of Fire  was released. Having one of the most recognizable theme songs in the history of film and winning four Academy Awards,  Chariots of Fire  told the story of two runners who raced during the 1924 Olympic Games. Scottish runner Eric Liddell was a focus of the film. Liddell, a devout Christian caused a stir when he refused to compete in any events held on a Sunday, which were some of his best events. That left only two events for him -- the 200-meter and 400-meter races, which he won bronze and gold in respectively. Interestingly, after the Olympics, he went back to North China to continue his familys missionary work, which ultimately led to his death in 1945 in a Japanese internment camp. Liddells Jewish teammate, Harold Abrahams was the other runner in the  Chariots of Fire  film. Abrahams, who had focused more on the long jump in the 1920 Olympics, decided to put his energy into training for the 100-meter dash. After hiring a professional coach, Sam Mussabini, and training hard, Abrahams won gold in the 100-meter sprint. A year later, Abrahams suffered a leg injury, ending his athletic career. Tennis The 1924 Olympics were the last to see tennis as an event until it was brought back in 1988.

Financial Decision Making In Easyjet Uk Finance Essay - Free Essay Example

Sample details Pages: 8 Words: 2508 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Easyjet is a U.K based low-cost airline offering services on 500 routes between 118 European, West Asian and North African airports using fleet size of 182 aircrafts. Unlike its biggest competitor Raynair, Easyjet uses primary airports to operate its services in off-peak time to avoid high airport fees. In 2007/08, despite the economic downturn and high fuel prices the company managed to increase its revenue as compared to last year with an increase load factor of about 85%. Don’t waste time! Our writers will create an original "Financial Decision Making In Easyjet Uk Finance Essay" essay for you Create order However the company failed to increase its profit margin for the share holders in 2008. While writing this report I find out the following key findings about the financial position of the company in 2008. The company is not facing any liquidity problems, possessing a strong cash position and ample amount of short term investments. The gearing level of company is relatively lower than Ryanair; due to this low leverage level it has the advantage over Ryanair to raise the external fiancà © easily in future if needed. The company has increased its efficiency to utilize the resources more effectively as compared to last year in 2007 but still lag behind Ryanair in overall efficiency to utilize the company recourses i.e. debtor and creditor days. In 2008 profitability remained the main problem of the company with low profit margins and Low ROCE in comparison with the previous year and with its main rival, Ryanair. Recommendations The main reason for low Profit margin of the Easyjet in 2008 was the inefficient management of the controllable costs. If the company wants to enjoy high profit margin in future, it has to cut down all the controllable direct and indirect expenses by reviewing its current cost control strategy. Introduction ThiÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢ report ÃÆ' Ã‚ °ttemÃÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬tÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢ tÃÆ' Ãƒâ€šÃ‚ ¾ ÃÆ'‘ ÃƒÆ' Ãƒâ€šÃ‚ ¾mÃÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' Ã‚ °re ÃÆ' Ã‚ °nd ÃÆ'‘ ÃƒÆ' Ãƒâ€šÃ‚ ¾ntrÃÆ' Ã‚ °ÃƒÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢t the finÃÆ' Ã‚ °nÃÆ'‘ iÃÆ' Ã‚ °l ÃÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬erfÃÆ' Ãƒâ€šÃ‚ ¾rmÃÆ' Ã‚ °nÃÆ'‘ e ÃÆ' Ãƒâ€šÃ‚ ¾f RyÃÆ' Ã‚ °nÃÆ' Ã‚ °ir ÃÆ' Ã‚ °nd EÃÆ' Ã‚ °ÃƒÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢yjet and will ÃÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬reÃÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' Ã‚ °re ÃÆ' Ã‚ °n ÃÆ' Ã‚ °nÃÆ' Ã‚ °lyÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢iÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢ ÃÆ' Ãƒâ€šÃ‚ ¾f the finÃÆ' Ã‚ °nÃÆ'‘ iÃÆ' Ã‚ °l ÃÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬erfÃÆ' Ãƒâ€šÃ‚ ¾rmÃÆ' Ã‚ °nÃÆ'‘ e ÃÆ' Ã‚ °nd ÃÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' Ãƒâ€šÃ‚ ¾ÃƒÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢itiÃÆ' Ãƒâ€šÃ‚ ¾n ÃÆ' Ãƒâ€šÃ ‚ ¾f EÃÆ' Ã‚ °ÃƒÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢yjet ÃÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬lÃÆ'‘  in ÃÆ'‘ ÃƒÆ' Ãƒâ€šÃ‚ ¾mÃÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' Ã‚ °riÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢ÃƒÆ' Ãƒâ€šÃ‚ ¾n with thÃÆ' Ã‚ °t ÃÆ' Ãƒâ€šÃ‚ ¾f RyÃÆ' Ã‚ °nÃÆ' Ã‚ °ir holdings. BÃÆ' Ã‚ °ÃƒÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢iÃÆ'‘ ÃƒÆ' Ã‚ °lly, thiÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢ iÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢ ÃÆ' Ã‚ °n ÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢trÃÆ' Ã‚ °tegiÃÆ'‘  ÃÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬erfÃÆ' Ãƒâ€šÃ‚ ¾rmÃÆ' Ã‚ °nÃÆ'‘ e ÃÆ' Ã‚ °ÃƒÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬rÃÆ' Ã‚ °iÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢ÃƒÆ' Ã‚ °l uÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢ing ÃÆ' Ãƒâ€šÃ‚ ¡.ÃÆ' Ãƒâ€¦Ã‚ ¾.R.E ÃÆ' Ã‚ °nÃÆ' Ã‚ °lyÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢iÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢. ThiÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢ ÃÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬ÃƒÆ' Ã‚ °ÃƒÆ'‘à ¢Ã¢â‚¬Å¡Ã‚ ¬er will be concluded with ÃÆ'â €˜Ã‚ ertÃÆ' Ã‚ °in reÃÆ'‘ ÃƒÆ' Ãƒâ€šÃ‚ ¾mmendÃÆ' Ã‚ °tiÃÆ' Ãƒâ€šÃ‚ ¾nÃÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢ tÃÆ' Ãƒâ€šÃ‚ ¾ EÃÆ' Ã‚ °ÃƒÆ'‘à ¢Ã¢â€š ¬Ã‚ ¢yjet. Context : Since the aviation deregulation came into force in 1990s, the two lower cost carriers Easyjet and Ryanair emerged into pierce competition with each other. Before the deregulation, these low-cost careers were in competition with their peers but then because of the increasing pricing war, they had started competing with rails and trains as well. Lets conduct a brief PEST analysis in order to understand the nature and competition level in this Low-cost carrier business. Mainly the two suppliers i.e. Air bus and Boeing, supply air-crafts to airline industry thus the competition between these two allows low-cost airlines to get low prices and reliable services. Airport is another supplier to the airlines; To avoid high fee charges, Ryaniar usually operates on regional airports closer to metropolitan areas with low bargaining powers where as Easyjet uses major airports but fly at off-peak time to avoid high fee charges of the airport. The bargaining power of the customer is high, to attr act customers the Low cost Airlines offer low prices with the use of web technology which is cheap and easier way for the customer to buy or exchange the flights with no extra costs. Due to capital-intensive nature of the industry and the presence of key players, possibility of new the entrant is usually very low in aviation industry. The threat of a substitute is high; with the emergence of new and fast rail connections with low fare throughout the Europe might pose a threat to lower-cost airlines in future. The competition among rivals in this field is particularly strong. A price war is a routine activity in this business to attract customers by sacrificing its profit margin but keeping the price lower to attract the customers. Easyjet has rapidly expanded since its establishment in 1995. Due to acquisition and base expansion, Easyjet has become the 2nd largest low-cost airline in U.K behind Ryanair with 184 aircrafts and having 20 bases throughout the Europe. In fact the E asyjet business model is based on the original low-cost carrier model (see appendix A),except that Easyjet has stretched the model further by introducing no-frill concept( no free food and refreshment during the flight), and unlike other low-cost airlines it uses primary airports for its flights operations. The financial year 2007/08 of Easyjet was effected by its acquisition of GB Airways worth 103.5 M in which  £11.5M was held in escrow as a security in that year while on the other side the fuel prices were increased from $643 in 2007 to $1070/metric ton. Overview: In this section we are going to summarize the financial statements of Easyjet to have a quick idea about how the company had been doing financially in the two year i.e. 2007 and 2008 while detailed financial statements for Ryanair are given in appendix C for more information. INCOME STATEMENT: EASYJET 2007  £M 2008  £M Sales/Revenue 1,797.2 2362.8 Cost of sales/revenue 1,529.2 2,148.4 Gross income 268 178.4 operating expenses 96.9 87.5 EBIT (Operating Profit) 171.1 90.9 After-Tax Income 152.3 83.2 EPS Basic 36.62 19.80 EPS Diluted 35.58 19.41 Balance sheet: Easy jet 2007  £(M) 2008  £(M) Current asset Cash and short term investment 942.8 982.3 Account receivable 193.4 187.2 Inventories Other current assets 30.2 245.5 Total current assets 1,166.4 1,415 Net current assets 545.1 505.2 Non-Current assets Property, plant equip 935.8 1102.6 Total investments and advances 33.2 64.2 Long term note receivable 65.5 66.2 Intangible assets 311.4 440.4 Other assets 3.70 6.9 Total non-current assets 1,349.6 1,680.3 Total Assets 2,516 3,095.3 Net Assets 1152.4 1278.2 Current Liabilities Short and portion of long-term debt 40.50 56.70 Account payable 39.60 77.50 Income Tax payable 89.70 75.10 Other current liabilities 451.5 700.5 Total current liabilities 621.3 909.8 Non-current liabilities Long term debts 478.6 570.2 Provision for risk and charges 136.0 160.4 Deferred Taxes 34.60 107.6 Other liabilities 93.10 69.10 Total non-current liabilities 742.3 907.3 Total liabilities 1,363.6 1,817.1 Total Equity 1,152.4 1,278.2 Total liability and share holder equity 2,516 3,095.3 If we look at the above income statement of Easyjet, the 1st thing we will notice is the increase in Total revenue of the company from  £1,797.2 in 2007 to  £2,362, in 2008 giving 31% rise in the figure, which is possibly contributed by GB airway acquired by Easyjet in 2008 as mentioned above. But down further in the income statement the net profit of the year 2008 has dropped to  £83.2M from  £152.3M in the year 2007 giving 45% fall in the net income for 2008 despite the high revenue. In fact this increase in total revenue is devoted to the cost of revenue which can be seen in the income statement, only the fuel charges has increased by 66% excluding all the other expenses. The increase in non- current assets (specially the intangible assets that are increased by 41.42% in 2008) can also be seen on the balance sheet along with a noticeable increase in the current and non-current liabilities. Overall the balance sheet is looking very stable and strong with solid cash and ca sh equivalent assets and a significant increase in total equity and liabilities (23% increased). It means that the business is still in the position to attract creditors and investors. Ratios: The ratios I have selected here to analyse the financial situation of the two companies in year 2007/2008 may not be enough to draw an absolute financial picture for both the companies, however I believe that these are the most common ratios used normally in Financial related decision.(Detail ratio given in appendix B) EFFICIENCY RATIOS Easyjet Ryanair 2008 2007 2008 2007 Creditor days Debtor days Asset Turnover Sales revenue per employee Turnover per aircraft 18.4 28.9 0.84 0.386 14.32M 9.45 39.2 0.77 0.316 13.11M 23.61 days 6.68 days 0.45 0.41M 13.31M 12 days 6.16 0.43 0.44M 13.45M Gearing Ratios Easyjet Ryanair 2008 2007 2008 2007 Gearing Ratio Interest Covering Ratio 30.84% 2.6 29.34% 4.83 43.1% 5.52 39.85% 5.68 LIQUIDITY RATIOS Easyjet Ryanair 2008 2007 2008 2007 Current Ratio Cash Ratio 1.55 1.07 1.87 1.5 1.53 1.3 2.1 2 PROFITABILITY RATIOS Easyjet Ryanair 2008 2007 2008 2007 Gross Profit Margin Operating Profit Margin ROCE 7.55% 3.84% 4.91% 14.91% 9.52% 10.4% 26.36% 19.79% 12.1% 25.77% 21.07% 11.6% Please note that all the values used for Ryanair has been converted to  £ using exchange rate 0.8 as was instructed. Evaluation The trade creditor days ratio of Easyjet shows an increase of about three days only, in 2008(13 Days) as compared to last year i.e. 2007(9.45 Days) but shows a significant improvement in debtor days on the other hand, that has decreased from 39.2 in 2007 to 28.9 Days in 2008. Here Easyjet shows a better efficiency as compared to its last year, but in comparison with Ryanair it is still far behind. Ryanair has creditors day increased (23.61 Days in 2008) by double of the last year (12 Day in 2007) while debtor days is almost the same as last year i.e. 6.50 days on average. As a whole, the efficiency of Easyjet in terms of debts and credits has improved by reducing the debtor days as the company has more trade receivable than the amount of trade payable. By scrutinizing the efficiency for both the companies further, we will notice that the sales revenue per employee ratio of Ryanair is higher than Easyjet, but Easyjet scores on Ryanair in turnover/aircraft; it is because of the ne w aircrafts in the fleet and higher load factor in 2008. The asset turnover ratio of Easyjet shows an increase from 0.77 in 2007 to .84 in 2008, reflects the better utilization of assets in operating the company to generate the revenue as compared to the asset turnover ratio of Ryanair which is .45 in 2008, raised up from .43 in 2007. By studying the overall asset turnover ratio of both the companies, Ryanairs asset turnover is more stable and consistent as compared to Easyjet. Financing analysis The capital structure of Easyjet is not highly geared but mostly dependent on the contribution from its shareholders however, the long term liability or borrowings in the balance sheet is up for 2008 as compared to 2007 as a result the gearing ratio for Easyjet is increased to 30.84% in 2008 from 29.34% in 2007. It is definitely because of the acquisition of GB airways as the cash was used, therefore they needed long-term debt to cover the other expenses. The gearing ratio for Ryanair holdings has been increased significantly from 39.85% in 2007 to 43.1% in 2008. The Inertest covering ratio of Easyjet has decreased from 4.83 in 2007 to 2.6 in 2008, one reason of this is because of the low operating profit and the other reason is the increase in long term debts but still the strong cash position, short term investments and low gearing ratio, Easyjet has net interest income of 17.3M in 2007 and 21.1M in 2008 which make it easy for it to pay the interest on the long-term borrowings . On the other hand Ryanair has net interest expense of 18.9M in 2008 and 20.8M in 2007 as a result the Ryanair has to pay more interest out of its profit as compared to Easyjet. Liquidity Analysis The current ratio of Easyjet in 2007 was 1.87 that has been reduced to 1.55 in 2008, this is because the increase in current liabilities of the company, although the total current assets of the company have increased by 21% but the total current liabilities has increase by 46% in 2008. The current maintence provision is increased from 2.8M to 49 M in 2008 where as the trade payable has increased from 39.6M to 77.5 M in 2008. On the other hand the current ratio of Ryanair has dropped from 2.1 in 2007 to 1.53 in 2008; it is because the increase in current liabilities by almost 40% but only 1.3% increases in current total assets. In case of liquidity Easyjet scores on Ryanair. Profitability Analysis The gross profit margin which highlights the trading performance of a company has declined from 14.9% in 2007 to 7.55% in 2008 indicating a significant increase in cost of revenue of Easyjet plc. In case of Ryanair, the same ratio shows an increase from 25.77 in previous year to 26.36 in 2008. The Operating profit margin of Easyjet shows a decline from 9.52% in 2007 to 3.84% in 2008 although the operation cost seems to be less in 2008 as compared to that in 2007. This decline in operating profit margin is actually the result of a heavy fall in gross profit of the company in 2008. Operating profit margin, being one of the functional components (other one is Asset turn over) of ROCE, the reduction in this has also reduced the overall ROCE of Easyjet from 10.4% in 2007 to 4.91% in 2008. This decline in ROCE is really an alarming signal for the companys profitability as it indicates the return on long-term capital employed by investors. Such a reduction in this figure is quite en ough to scare off the investors. One the other hand again the ROCE of Ryanair has increased by almost 1%. From the discussion so far it is clear that a significant part of revenue has been dedicated by Easyjet to meet its direct and indirect operating expenses. Adrian (2009) shows in the following table, how both of the no-frill companies (Ryanair and Easyjet) carry out their costs in 2008. Easyjet Ryanair Difference March 2008 March 2008 Operating Expenses Staff 6.60 4.48 2.12 Aircraft ownership 7.32 4.79 2.53 Maintence Marketing Distribution 2.00 0.27 1.73 Route charges 4.62 4.07 0.55 Airport handling 14.69 6.22 8.47 Charges Fuel oil 14.42 12.43 1.99 Others 3.20 1.98 1.22 Total Operating 52.85 34.24 18.61 Expenses Adrian (2009), in the above table shows that Despite the Easyjets fare being 40% higher than Ryanair, the operating profit/passenger of Ryanair is twice more than Easyjet, this is because Ryanair costs are above 35% less than that of Easyjet. According to Pitfield (2008), there are certain costs that are not subjected to be controlled by low-cost airlines such as fuel burn and en-route navigation charges but all other influences on cost per seat can be controlled like maintenance cost could be lower by having same commonality of aircrafts, staff cost by reducing the crew size and handling and administrative costs can be reduced by choice of airports and direct selling of tickets to passengers. Conclusion and Recommendations From the above discussion, I reached to the conclusion that it is unlikely for the Easyjet be affected adversely from the economic downturn in short-run as shown by higher load factor and consistent increase in revenue throughout the past years. However if the company keeps failing to control the direct and indirect costs relating to revenue, which results in decreasing the overall profit margin of the company will lead to a situation where investors will think 100 times before investing in the company. By nature, the low-cost airlines (as the name indicating) achieve the high profit margin by reducing its costs, in fact the survival of such airlines depend on keeping their operational cost low. Following are some measures I will like to recommend to Easyjet that might be able to control the overall operational cost of the company. By increasing the ancillary revenue to offset the cost of income arising in generation of operational revenue The company should review its strate gy of operating only from primary airports; I think Easyjet should consider the use of secondary airports with low bargaining powers. The number of flights should be decreased in off-peak seasons to avoid both employee costs and aircraft operating cost. Keeping the crew size to minimal number and also the company should review the current pay structure of the staff that is looking higher in the industry. The company should adopt a better hedging strategy in order to cope up with the future increase in fuel prices or currency exchange rates. Easy jet should give special attention to minimize the advertise expenses. To achieve the objective of being No.1 airline, Easyjet should minimize its overall operational costs. Note: The main sources of my research that I have carried out to complete this report are the official websites of both the companies as they are the primary source of financial information relating to their businesses.

America Needs To Support The Needs of the Poor Essay

In America, there are many people who face the horrors of foreclosure and possible homelessness. Not always it is the fault of the homeowner, but the fault of the surrounding situations, inflation, recession, and unexpected circumstances. The fact is that the general public doesn’t care. In fact, many have bumper stickers that read â€Å"the only good welfare system is a job,† with the face of Ronald Reagan on the side. If this were true, then those who are homeless but have jobs are just punishing themselves. The fact is this: America is based on an economy that profits from the poor and unlucky. This system has obviously worked otherwise the American economic system would have changed. Even if America has a debt more than $12 trillion,†¦show more content†¦I have had friends who told me that the welfare system of today just doesn’t work and that America should not have it anymore. I often keep quiet about it because they are too ignorant and th at they do not understand. The welfare system is damaged, but rather than rid of it, it should be improved. I am one of those people who doesn’t mind giving up time, energy, and (if I had it) money to help those who cannot help themselves. It isn’t the fault of the American people that they don’t know or understand the harsh realities of living in this nation, but it is the fault of education, the government, and the media for not exposing the realities obviously enough for even simpletons to understand. The proposal of a program to help those who face foreclosure is not a handout, but a boost. A nation should be judged by how it treats the lowest of its citizens. To help combat the fear of foreclosure, there should be in place a program that helps those who are in the danger of foreclosure to have a second option. A program that helps transplant people and families into another building or home that would be cheaper or affordable for them. 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This is not enough to be able to be above the poverty lineRead MoreCorporate Leadership : The Bank Of America Essay1699 Words   |  7 PagesBank of America Talent management is a common term in corporate leadership which refers to a process that covers a key aspect of an employee’s life cycle. The cycle consists of a selection of development, succession and performance management for the purpose of ensuring that an organization has sufficient number of employees in terms of quantity and quality. This critical process ensures that an organization has enough people in place to meet their current and future business priorities. Talent management

Answer the question for chapter 1,2,3,4and 5 Example

Essays on Answer the question for chapter 1,2,3,4and 5 Assignment Finance and Accounting The preparation of the income ment is a useful l for profit marking organizations when determining the income generated from their operations. The variable costs are normally used in the process since the management has control on the costs and can be manipulated to improve performance (Kimmel,Weygandt, and Kieso 112). Patti’s Paintings analysis has been done on this paper. Patti’s Painting Contribution Income Statement For the three-month period August 31/2011 Per Unit Total Sales 600 14400 Less: Variable Cost Employee 150 3600 Paint and Supplies 330 7920 Selling expense 15 360 Administrative expense 18 432 Total variable cost 513 12312 Contribution margin 87 2088 Less Fixed cost Selling expenses 25 600 Administrative expenses 62.5 1500 Profit (Loss) (0.5) (12) Contribution margin ratio 14.5% 14.5% Break even sales is the level of sales where the net profit is zero i.e. a company makes neither profit nor loss (Kimmel,Weygandt, and Kieso 113). Break Even (units) = = = 24.14 Break even sales= = = 14483.76 Evaluation of the three options Option 1 In this option, the decrease in the sales price will result into an increase in the quantity sold. Therefore, we will use the new rates in determining the net profit. In this option, the contribution margin= 580-513 = 67 Net profit in this option = (67*36) - 2100 (Total fixed cost) = $ 312 Break even units= = 31.34 Option 2 The option will enable Patti to paint more houses because of the new online marketing strategy. Both the selling prices and costs would remain the same. The new contribution margin will therefore be calculated as follows. Contribution margin= 87*45= 3915 Net profit= contribution margin- total fixed cost =3915- (2100+1200) =$ 615 Break even units= = 37.93 Option 3 In this option, the rent would result in an increment in the variable cost. This would therefore lower the contribution margin by $ 25. New contribution margin per unit= 87-25=62 Net profit= (62*48) – Fixed cost = 2976- 2100 = $ 876 Break even units= =33.87 The evaluation of the best alternative can be done on two bases. First is the use of the new net profit. If this basis is used, option 3 will be the best alternative since it results into the highest operating profit. The increase in the number of houses to be painted has made the profits go up compared to other options. The second best choice will be option 2 which generates an income of $ 615. Option 1 will result into a profit of $ 312. All this options results into increase in net operating profits compared to the initial income. Using the break even units, option 1 will be ranked the highest followed by option 3 and lastly option 2. It therefore means that option 1 will make Patti start earning profit after selling relatively lower units compared to option 3 and 2. In all the options, Patti paintings have to consider other determinants like the customer satisfaction, branding of the business and the quality of the services that the business will provide. Sustainability of the options is thus important on the evaluation process. Regulations and practices of the competitors all have to be incorporated. In summary, the urge of businesses to improve their returns and increase their performance calls for the inventions of better methods of increasing profits by either reducing costs or decreasing the cost. The best evaluation should result into the increase in the net profit f the business. Option 3 therefore deserves to be adopted. The qualitative characteristics should as well be considered at the evaluation of the best option. Work Cited Kimmel, Paul D., Jerry J. Weygandt, and Donald E. Kieso. Accounting: Tools for Business Decision Making. 4e [ed.] ed. Hoboken, N.J.: Wiley, 2011. Print.

Measuring academic proficiency under the NCLB. Free Essays

The No Child Left Behind (NCLB) Act was designed to close the achievement gap between high and low performing children, especially the achievement gap between minority and non-minority students and between disadvantaged children and their more advantaged peers (NCLB, 2001). The key components of the act are the adequate yearly programs (AYP), and the annual measurable objectives (AMO). The AYP is the working principle of the act and it is seen as the mechanism for which all schools and all students meet the same academic standards in reading and mathematics by school year 2013-2014. We will write a custom essay sample on Measuring academic proficiency under the NCLB. or any similar topic only for you Order Now The AMO indicates the performance of the school in terms of proficiency in reading and mathematics tests. Moreover, the law identifies student subgroups like economically disadvantaged students, students form major racial and ethnic groups, students with disabilities and students with limited English proficiency. The law also specifically requires that 95% of the total number of students in a school and 95% of each subgroup to take the reading and math standardized tests, while the state is tasked to determine its own AMO targets and the minimum number of students in each subgroup who are required to meet or surpass the AMO targets (NCLB, 2001). The AYP requirements apply to Title 1 and non-title 1 school that receive federal funding. Schools that do not reach AYP for two or more years will be labeled as in need of improvement and are sanctioned. The NCLB employs a conjunctive accountability system wherein each subgroup of students are required to reach the minimum levels of proficiency in math and reading regardless of their previous proficiency levels, thus within 12 years, all students should reach 100% proficiency. NCLB is based on the idea that high expectations for achievement would result to higher actual achievement levels. By requiring each school to reach a uniform level of proficiency  would mean that in a given period, all schools and all students would have mastered the same skills and learned the same knowledge in reading and mathematics. The NCLB measures progress through a single mean proficiency score across levels and subgroup.   However, this frame of mind does not consider the diversity of American students and their backgrounds. For example, requiring each subgroup to meet the minimum mean proficiency score would ensure that the school would not reach the AYP. Using a single mean proficiency score to measure performance is not a true measure of school improvement nor student performance. Although, NCLB have positive visions, its method of attaining its objectives undermines what it is supposed to do. The law treats each school and each student as a single and uniform entity when our society is composed of different races and backgrounds, not even taking into account the difference between the rich and the poor. Even if the law identified the subgroup of students, it still however assess each group in terms of the single mean proficiency score which is the same as implementing a one size fits all policy. The problem with NCLB is that it asks schools to be assessed against a single mean proficiency score, wherein if a school fails to reach this score, would indicate that the school is not performing as it should be in accordance with federal and state rules. The use of a single mean proficiency score says that each school is treated as equals, however the reality is differences in each school is present. For example, different districts cater to different students and since education have been the purview of the state; they have also different standards on accountability and accreditation. The schools seek to attain the level of performance required by the state and in cases where measures of school performance differ from the NCLB would say that schools are making progress in the state level but is not up to standard in the national level. Students also would be burdened by being pitted against a single score that may or may not be realistically attainable, and if they fail to reach the mark they would have caused the failure of the entire school. Another problem with the NCLB is that by identifying subgroup of students and requiring them to achieve the mean proficiency score puts them in a bind. The subgroups identified by the law in some cases could be an unnecessary repetition of the groups, for example most Blacks and Latinos are economically disadvantaged, and that most of these groups also have lower mean proficiency scores. Thus if a school is composed of many poor students, of different racial groups, of students with limited English proficiency, then this school will surely not reach that mean proficiency score. The NCLB is not friendly to racial groups, economically disadvantaged children, children with disabilities and children with limited English proficiency. It is common knowledge and even supported by statistics that those who are identified as economically disadvantaged are those who belong to a minority racial group. In which case they will be asked to reach the same proficiency score twice, then they will be labeled as under performing and the school as needing improvement. It will compromise what the students have accomplished in a school year, because failing to reach the mark is not equal to no improvement or no learning. As for the parents, they would probably think that NCLB is good for their children as it ensures equality between groups in terms of academic achievement. However, if their state certifies that their children are performing to expectations like in Virginia and California, but the federal government says otherwise would saw confusion and distraught among parents. Schools and districts complain that using a single mean proficiency score to measure performance is not realistic and appropriate. It does not take into consideration that high-poverty schools have students with less academic preparation than those with low-poverty schools. Moreover, by using a system of conjunctive accountability dooms schools from reaching AYP. The short term effects of NCLB on low-income students and of color is that thy will b subjected to more requirements in school or additional interventions that would enable them to reach the desired improvement of scores as well as being pressured to make that mark. The long-term effect is that when they fail to reach AYP and cause the school to lose out on the AYP race, then they will be blamed for it and probably will be faced with angry members of the community. When schools still fail to make the mark and is identified as needs improvement and probably would be given less funding the more the low-income and racial groups become more disadvantaged, instead of closing the academic achievement gap, the NCLB does not even consider what academic achievement is. I think that NCLB was born out of the sincere desire to make sure that our students have the same level of academic proficiency even for math and English only. Whoever drafted the bill however did not have a clear understanding of achievement, intelligence and environmental factors that are part and parcel of learning and education. It is also funny to think that as diverse a population as we have we want to be pitted against a single score when what is more important than the grade or score is actual learning and the evidence of improvement across the years. Thus, as a law that seeks to close the achievement gap between groups of students, the NCLB divides and places the minority groups in a more difficult situation and at a more disadvantaged position.    How to cite Measuring academic proficiency under the NCLB., Essay examples

Process and Docomendation for an Organisational Change Program

Question: Discuss about the process needed and the documentation for programs that can change an organization? Answer: In this assignment we are going to discuss about the process needed and the documentation for programs that can change an organization. In the first half we will discuss about the project variables. Assets can be defined as worth of everything that is developed by a person or an organization. Objective When we initiate a new task we have to always remember that the work we are doing is been fully satisfied at the end. This is the main aim of any project manager. He should always set some mission so that he can always evaluate the success of his work. He should be able to measure the success of project through the way he completes his project. Post implementation review The process by which we can evaluate the aim and mission of a project of an organization and when we achieve them it should match with the budget , time period, quality of the work that is been delivered to the clients. Project Charter It is the written acknowledgement of any particular project that is necessarily needed to be signed by the sponsor. Project Register Each and every data of a project must be recorded in a file which is included in evaluation and success of a project. It tracks the start and end time and also gives keeps us updated of recent work. Resources To complete or perform any work we need some necessary tools that we can use to do it. It also reduces work time and we can do the task easily. Same things is also considered while doing any project as such instruments enhances better quality of work and they can also limit changes in scope and time of work done (project insight, 2015). Risk analysis While doing any project it is very necessary to gain all knowledge about risks ascertained in that particular project. It is also necessary that a project manager must know ways and means to sort them out. Scope It is required to make a note that a project must involve scope of work to finish the task effectively. Stakeholder They are such persons who are associated for some interest and outcome from the project. Such involvement may cause affection towards the project. Project Methodology can be defined as a process which is made to provide a route to develop, implement and organize a project. We can also structure in a way that it is a step by step flow of work that is to be followed. Projects are conducted within a framework of quality management. Such activities are always predefined when we begin any project. Various roles are performed in a project management process. For example we can say that managing all activities of staff is first role of project manager. Finance manager can play a second role in this case. For any project a responsible person must always be liable and we can give project sponsor in the list. It is also a fact that a single person cannot do all type of work, work must be allocated into teams or groups. A stakeholder is any person who will take initiative in the project who may be a supplier, customers, and client as well. Any project must include necessary updates and feedback about a work, it also includes the history of work and new things that is associated. WHS( World Health and Safety) are some regulatory areas that can be used as a part of the project. Ethical principle and codes of practice is also included (Coursera, 2015). Any project includes five stages to complete the task and all projects follow the same method : (project insight, 2015) Initiate In this step we need to start the project by stating the aim of the project and why the project is to be accomplished. It also includes some variables such as budget, scope range and scale of a project. All the processes must also be explained within the workers and team members. These will help in process of taking decisions and add to complete the project. In the end we need to identify the break points which is helpful in measuring the results. Plan Every project must have a order plan to complete the project and the work load must be equally divided. A project manager must possess all the skills that is needed to be done and time cost must be included in the project. Preparation of project plans and defining the goals must be there. It also includes the project charter for each team member. Implement Implementing the activities of the plan is the next step. It includes peoples effective coordination. and therefore executing the plan. This step also involves all the resources needed to complete the task implementation of a plan also involves status reports, issues logs, change requests and project monitoring. Monitor The next step is to monitor the activities and work of the project. This step includes to have a watch on all the processes and project manager evaluates the project success. It also involves checking daily operational work. If any further change is required then it is to be implemented thereof. Close It is the last step which involves checking the success of the project. It includes to bring the project at the end by arranging and communicating or concluding the project. The project needs to be handed over to be prepared in a report format. It is not only the responsibility of the team member, but all the team members must work efficiently to prepare the project. For example a proposal with the project manager can be made by a middle manager. The post implementation review must be conducted by an external person. Project Aims The project manager, before the starting of the project have to ensure that an authoritative person has done sufficient research to understand what will the main objectives of the research, the things that should follow the project and the availability of the team whether they can do it. Project deliverables: It is agreed what should be the project deliverables; the results that should be delivered by the Project have been organized from before. Like for example for a consultancy project the deliverable should be a final product and likewise for an it project the delivered should be hardware or software and for an engineering project, a mobile phone should be the deliverable. Furthermore A building, Bridge or a road should be the result of a construction project (FOX-UNGAR, NEWELL GUILBAULT, 1989). Goals: A companys Goal should be triggered towards achievement of success, Maximization of capital and handling more and more business. A company needs to focus more towards improvement of their goals and probability of success. Moreover a companys aim should be about attracting a bigger market and capturing more and more end users, to provide a better customer service and also improvement of employee training and also take care of the emission of carbon in the environment. Objectives: A goal should always have a specific number of objectives. Objectives should always accompany the goals of a company. For example, Goals Should always be SMART Goals i.e. Specific, Measurable, Achievable, relevant and time bound (Sswm.info, 2015).To provide a better customer service and better quality of food should be the aim of a bread company. Some important factors that should be considered in this aspect are the wrapping of the bread pack, Home delivery for customers and also the sample that should be given to the customer time to time for their usage. Goals should be according to SMART goals as already mentioned, It should be according to the requirement of the manager, It should be Measurable, Something which can be felt but measured such as the satisfaction level of the customers and also the feelings of the customers about the main product. It should be achievable in a ll parts and should not be too high ended that is which is not achievable and finally It should have a time restriction within which the task have to be completed. Key Performance Indicators: The measurable element for a project task is their key performance indicators such as the percentage of computer upgraded and the number of up gradation of computers. Likewise the number of customer served and number of items produced is equally important. The main indication that we get whether the goal is progressing towards the right direction or not is to access the key performance indicators (Whitaker Mancini, 2013). The thing to be discussed now is how to organize a team for the project and what should be the qualities that the members should have. First it is necessary to do a SWOT analysis of the members of the team to gather synergy and know their weakness and strength to minimize their weakness and maximize their strength. An effective team is such a team who can tackle bigger problems and can solve complex issues within seconds. A team can let out a feeling of great positive vibes and that is the actual purpose of the team. A team should be well versed on the resources that should be used and use it religiously and all the team members should be flexible enough to withstand any challenges in front of them. The project management cycle should be processed by a number of tools and key documents such as skills matrix, project initiation document, project charter and scoping document. Some sub plans should be made before the initiation of the project. These sub plans should be as follows: Communication plan Gantt chart Work break down structure Risk management plan Work break down structure should be used in the project planning for three main reasons: A scope of a project should be more specifically and accurately defined and organize with the help of work break down structure. Work break down structure should also be used resource allocation, assigning responsibilities, controlling the project and finally monitoring the project. The stakeholder is involved in the process with whom all the deliverable specification is double checked to see whether anything is missing or overlapping or not. Inputs to the WBS process: Approved change request Project statement process Organizational process assets Project scope management plan Herein I shall discuss some tools that is required in the process of work break down structure Project deliverables list The project team who will organize the team Work down structure templates The project name Decomposition (deliverables are broken down into smaller parts to do the work more easily) The project closure phase should be discussed now. It contains three phases which are Project handover report Project implementation review Project completion report The project life cycle ends with the project closure phase When the end product is accepted by the client and all the project objectives are completed that marks the end of the project closure phase. Project handover: Whether or not a project is completed is checked by the project manager. The requirements which were specified before the starting of the project should match the final product that is delivered and moreover the project should be handed over to the client and should be accepted by the client on the basis of the above requirements. Project completion report: The project report review presents such documents such as what was good about the project and what could have been better. A strong team building and a responsible project manager is required for the completion of the project. In the processing of the project a project manager plays a vital role. As for example before the starting of the project he needs to do a lot of preparation, such as mentioning the probability of risks in the future and also the sub plans that is required in the project. However, he needs to build a strong team and divide the work load equally among all the team members. The five types of processing of the project should be looked after like how to monitor all activities and also do some starting activities The changes that appear during the time of the project completion should be looked after with utmost care to avoid any problems later on. Conclusion: I would like to conclude by saying that all the resources that are required for the completion of the project should be available at the site and also the risks that come in the project should be accessed from before to avoid any kind of project delay. References Coursera, (2015).Coursera - Free Online Courses From Top Universities. [online] Available at: https://www.coursera.org/course/basicprojmanage [Accessed 12 Feb. 2015]. Heagney, J. (2012).Fundamentals of project management. New York: American Management Association. Jones, O., Conway, S. and Steward, F. (2001).Social interaction and organisational change. London: ICP. Kerzner, H. (2001).Project management. New York: John Wiley. Mindtools.com, (2015).Project Management Skills. [online] Available at: https://www.mindtools.com/pages/main/newMN_PPM.htm [Accessed 12 Feb. 2015]. project insight, (2015).project management. [online] Available at: https://www.projectinsight.net/project-management.../basic-project-management. [Accessed 12 Feb. 2015]. SUKOVIC, S. (2011). Strategically creative: A case of the library planning process.Journal of Organisational Transformation Social Change, 8(3), pp.261-279. (2015). Retrieved 12 February 2015, from https://www.unesco.org/education/aladin/paldin/pdf/course02/unit_02.pdf FOX-UNGAR, E., NEWELL, G., GUILBAULT, K. (1989). Documentation: Communicating Professionalism. Nursing Management (Springhouse), 20(1), 6571. doi:10.1097/00006247-198901000-00017 Sswm.info,. (2015). Process Documentation | SSWM. Retrieved 12 February 2015, from https://www.sswm.info/content/process-documentation Whitaker, J., Mancini, R. (2013). Technical documentation and process. Boca Raton, FL: CRC Press.