Solved Questions Financial Accounting free essay sample

Nestle would record the bond at acquisition cost, not the amount it will receive at maturity. b. Both U. S. GAAP and IFRS would recognize Prepaid Insurance (current asset); CHF240 million would be recorded initially. At Nestle’s year-end, the balance in the Prepaid Insurance account would reflect the two months usage of the insurance, reducing the balance to CHF200 [= CHF240 – (CHF240 X 2/12)] million. . Both U. S. GAAP and IFRS would recognize Option to Purchase Land (noncurrent asset), CHF6 million. d. Neither U. S. GAAP nor IFRS recognizes the employment contract, a mutually unexecuted contract, as an asset. e. Under U. S. GAAP, Nestle would record only the costs of obtaining the patent as an asset on its balance sheet, Patent (noncurrent asset), CHF0. 5 million. The remaining CHF80 million is an expense of the period. Under IFRS, Nestle would recognize Research Expense of CHF48 (= 60% X CHF80) million in the period incurred and record a Development Asset (noncurrent asset) at the acquisition cost of CHF32 million (= 40% of CHF80 million) as an asset on its balance sheet, which it would depreciate over the useful life of the product. We will write a custom essay sample on Solved Questions Financial Accounting or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Under IFRS, Nestle would also recognize the patent as an asset on its balance sheet, Patent (noncurrent asset), CHF0. 5 million. f. Under both U. S. GAAP and IFRS, Nestle would not recognize the cocoa beans as an asset until it receives the inventory. 3. 23

Strategic Marketing Management

Strategic Marketing Management Introduction Internet marketing has played a major role in expanding the market shares for companies across the globe. Customers use internet-based online purchasing to acquire the commodities in the market. They use it as a means of saving time and to get a wide range of options for goods and prices for the goods.Advertising We will write a custom critical writing sample on Strategic Marketing Management specifically for you for only $16.05 $11/page Learn More Through the internet, the customers are able to explore the different products and company brands that are available in the market as well as their prices and therefore have the opportunity to make choices that suit their preferences and their financial capabilities. Although companies have many marketing and distribution channels to market and sell their brands, internet-based online distribution channels are growing at a fast rate considering that today, we are in a globalized market. Companies empl oy internet-based online marketing to achieve market segmentation and positioning to target specific market areas so as to increase their market shares and therefore optimize profit. The internet-based online marketing has significantly changed the role of customers in the service industry. They have taken an active role in determining value creation. Services industries therefore have to balance trade-offs to achieve benefits while making sacrifices that favour their customers. The airline industry is among the services industries that have applied internet-based online marketing strategy in the United Arab Emirates to achieve their marketing goals. One such airline company that applies internet-online based is Continental Airlines. Its airline industry data shows that online marketing has penetrated the leisure travel market as well as the low-fare market (Brunger 66). Although the company’s internet distribution channels yield lower revenue as compared to its revenues from traditional travel agencies by a significant percentage, the data available shows that internet distribution channels are fast catching up in the market. Purpose and Scope The aim of this study is to analyse Continental’s organizational effectiveness in implementing internet-based online marketing strategy. The paper examines the effect of the internet on the company’s marketing and the company’s ability to effectively explore the internet in the evolving role of marketing. The paper examines how the company uses the internet for pricing management as well as for product management. It explores Continental Airlines ability to apply internet-based online marketing to achieve market segmentation and positioning as well as market targeting. It discusses the company’s market research and analysis through the use of the characteristics of its online travel agency and traditional agency customers to expand its services and market. Finally, the paper explores t he company’s use of the internet in channels management.Advertising Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Methodology The study takes both qualitative and quantitative analysis of internet-based online marketing applied by Continental Airlines. The study reviews the literature written by William Brunger on the price effect of the internet. The data available in the journal is both qualitative and quantitative. The analysis takes a look at the research results presented by Brunger from the large multivariate regression analysis of the data from the company’s data base. The information available includes data that was collected between June 2003 and June 2007. The study evaluates Continental Airlines’ effectiveness in the application of its internet marketing strategy by comparing its strategies to standard marketing strategies obtained from other writ ten sources. The data that was used for the research presented in this journal was collected from the bookings from the airlines website (continental.com) as well as from its reservation offices and contained complete records of Continental Airlines’ customer information. Literature Review Airline yields for Continental Airlines which is expressed as the amount of money each customer pays for a mile is said to be on the decline since 1988 when the company began to offer internet purchasing services to its customers. However, the internet sales have tremendously increased over the years and this has been the major reason for the reduction in its yields. The study that was carried out from June 2003 to June 2007 found out that the company’s internet distribution channels yielded 25% less (Brunger 66). The company offers equivalent fares as well as equal inventory allocations to both its online travel agencies and its traditional travel agencies. The company has establish ed that its traditional travel agencies yield more revenue to the company since its business customers particularly business corporations rely on them to manage their travel budgets. The business customers are ready to pay higher fares as compared to the leisure customers since they acquire their travel tickets from the traditional agencies. The traditional agencies sold higher fare tickets to customers than online travel agencies. On the contrary, Continental Airlines offered equal fare averages and inventory to both its traditional and online distributional channels. The online customers are able to explore all the brands available through advanced searches to acquire low-priced tickets which are available during the off-peek hours and days while customer who use traditional agencies do not get the same chance to explore all the prices available. To them, they rely on the explanations offered by the traditional agencies. The study showed that the marked difference on its revenue c ollection depended on the purpose of the travel.Advertising We will write a custom critical writing sample on Strategic Marketing Management specifically for you for only $16.05 $11/page Learn More Continental Airlines offers an array of airline pricing structure as part of its marketing strategy. It has segmented its markets and offers a range of fare products in every market. Each fare product comes with fare restrictions particularly for the advanced ticket purchases. It sets penalties for ticket refunds and change restrictions and also sets conditions for stay requirements (Brunger 67). The airline use price differentiation to segment its markets. Its offers different fare products targeting its main two categories of customers which are the leisure travelers and business travelers. Most of its online fare products structures are targeted to the leisure customers. The airline defines leisure travelers as those visiting friends and relatives as well as c ustomers travelling on vacation. The airline’s revenue management system ensures that it offers different fares products in each given flight at any particular time in the same market. The airline also uses the Expected Marginal Seat Revenue to predict the price that the customer is ready to pay by applying the power of its regression technique. Thus the airlines revenue system enables it apply product differentiation as well as price discrimination to its customers in the same market. For example, in June 2006, the Houston-to-Seattle market had five different fare products in the airline’s fare structure which include a 7-day advance purchasing as well as change or refund restrictions. The different rates offered to the customers were designed to suit different categories of customers which are the price-sensitive leisure customers and the less-price-sensitive business customers. The fares also varied with time of the day and the day of the week depending on the peak periods of the travel time or day. The information available at the Continental Airlines’ database indicates that most online travel agencies customers were more likely to buy lower ticket fares. Customers who purchase their tickets through the airline’s online travel agencies use internet’s enhanced search engines to buy less expensive fare tickets which are offered by the airline’s revenue management system. The internet also provides real-time fare alternatives to customers (Brunger 70-71). Continental Airlines uses its internet-based online marketing to segment its customer population. The airline uses the customer information to evaluate the purpose for the trip and its relative effect on the fare product chosen in order to design fare products which are market specific. It uses differentiated pricing for each of its market segments.Advertising Looking for critical writing on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The differentiated product fares focus on homogeneous sub-groups of its customers who exhibit almost same characteristics. The data on its online customers allows the airline to analyse all the customer characteristics and therefore classify them into more homogeneous groups. This enables the airline to design fare products which best suits its online groups of customers. Previous studies and this research showed that leisure customers who use online channels to purchase their fare tickets tend to be more price-sensitive as well as less brand loyal as compared to leisure customers who use other distribution channels. This results from the internet’s enhanced search capabilities (Brunger 70). The airline uses the data available in its database from the online customers to carry out market research and analysis. It uses regression techniques to determine the effect of its online marketing strategy on its sales volume, total revenue collection, customer characteristics and marke t effects. It uses the results of its market research to redesign product fares which enable it achieve market segmentation and positioning through product and price differentiation. The information available from its online customers provides all characteristic needed for its quantitative analysis. It analyses the mean value attributes of its customers to determine their attitudes towards its market brands and fare products and therefore classify them into a pool of homogeneous groups. This enables the airline to design brands and products that best meet their requirements through its distribution channels. Findings Continental Airlines uses a customer-dominant marketing strategy in its service provision to create value to customers. Its customer-company interactions focus on the mental life of its customers who use its services. The results from various studies show that the increase in internet usage has increased the spread of restricted and unrestricted airline fares. The studi es also show that more customers have increased their search for airline travel online (Lane and Verlinda 1). The Evolving role of Marketing Internet has shifted the traditional role of marketing which focused on product marketing and exchange to interactions (Heinonen, Strandvik and Voima 3). The internet also increases the utility of the airline as it enables it trade off-peak inventory to its online customers who utilise high-search engines to explore its product fares and brands while at the same time reserving more economically valuable seats to its customers who are less price-sensitive. The internet enables Continental Airlines to sell its seats during the off-peak days and hours when the customers are fewer. It online transparency as well as differentiated pricing gives its online customers the opportunity to purchase tickets and travel during such times. The internet allows the customers to pay a positive cost to search on the airline’s offerings and therefore identi fy and purchase their preferred brands. Thus, internet-based online marketing enables the airline to apply brand-intensive competition through its differentiated product fares (Lane and Verlinda 2). Product Pricing and Management The airline uses the internet and the online travel agencies to communicate and effect sophisticated pricing policies to customers and therefore experiences higher degree of price management through its various distribution channels. Its revenue management system enables it to charge higher fares to a section of its customers in the same market. The internet has also created numerous alternative sources for information on prices and hence enhances transparency in its fare products. The customers are therefore enabled to gain access to the fare products across a range of flights in the market. This has enabled Continental Airline to attract more non-loyal customers. The regression analysis that was done after the research that was done between 2003 and 2007 showed that most of the airline’s customers who use the traditional travel agencies belong to the group of its loyal customers (Frequent Flyer Program). The airline uses the internet information to calculate the minimum Expected Marginal Seat Revenue that it charges on every flight. The Expected Marginal Seat Revenue is the minimum price that the customer has to pay to purchase a fare ticket for a given flight. It uses sophisticated revenue management systems to determine the prospects for filling the remaining seats on the particular flight. The airline continuously updates its Expected Marginal Seat Revenue as bookings for each flight continues. It optimizes network and high-level benefits by considering the connections and interactions that exist among flights. It uses the Expected Marginal Seat Revenue as a mean average so that whenever a prospective online customer searches its reservation system on a given flight, the reservation system matches the particular Expected M arginal Seat Revenue with the fares offered in the airlines market during that period. The reservation system would therefore only display fare products which have higher values than the Expected Marginal Seat Revenue. Fare products with lower values are hidden from the prospective customer (Brunger 69). Internet in Channels Management Internet enables airlines to manage their distribution channels by controlling the flow of information on its product fares and brands. It has changed the institutional functions of its distribution channels thereby allowing agencies to adopt online-based sales and advertisements of the organisation’s offerings. It has enabled some of the airline’s channels of distribution to reduce their workforce’s participation since most explanations that the online customers may require are available on its website and that of its online travel agencies. It also enables the airline to efficiently coordinate its network of distribution channel s and therefore bring its products to the ultimate customers. Product Positioning Internet has enabled Continental Airlines achieve market positioning by enabling it to continuously monitor its online customers’ preferences and characteristics. This gives the organisation the ability to focus on value creation to meet its customers’ preferences (Finney and Spake 6). The internet plays a role in helping the organisation form relationships with both its non-loyal and loyal customers. It provides its online customers with an interactive channel through the online agencies and thus enabling the airline adopt marketing perspectives which enable it deliver customer-specific products and brands thereby achieving greater sales volume. The internet enable airlines to center their product fares and brands to customers by designing more appealing offers since they better understand their customers’ characteristics (Finney and Spake 8). Internet enables the airline to achie ve value creation through its market offerings which enables it acquire market positioning. Market Research and Market Analysis The internet enables the airline to acquire information on the characteristics of its customers, particularly online customers. These characteristics are used to carry out quantitative analysis of the customer characteristics on its marketing and sales volume. The airline focuses its research on customer behavior, its pricing, and its marketing strategy among many other dimensions. The results are analysed to determine the best means to ensure value creation and price differentiation to its customers through its fare products and market brands. The information available from the airline’s database reflecting its online customers is used to classify the customers into more homogeneous groups and therefore effectively analyse and design fare products and brands which best meet the customers’ preference and which also enables the company to sell its products and inventory. Market Targeting and Segmentation The airline carries out customer characteristic analysis through its online distribution channels and therefore classifies the customers into more homogeneous groups. It therefore designs customer-specific fare products that target the specific groups of customers which enable it apply price differentiation. It structures its fares into various fare products and restrictions which meets the preferences of its online customers. It applies restrictions to enable it achieve market segmentation. Failures in Continental’s Marketing Strategy The airline has failed to completely restrict its online customers from exploring the low fare products during peek days. This has been the major factor that contributes to the company’s low revenue collection from its online distribution channels. Online distribution channels limit Continental Airlines’ ability to effectively apply its price distribution and as a resul t, reduce its revenue collection. The airline’s inability to completely restrict ticket fares to all its customers enables online customers to purchase lower ticket fares than higher ticket fares. Thus, while internet marketing enhances product as well as price transparency to customers, it causes greater price sensitivity among customers, thereby lowering revenue collection by business organisations. Studies that have been done to determine the effect of internet purchases on the revenue collection have shown that internet purchases generally yields lower revenues as compared to offline channels of distributions. The customers utilise the internet’s search capabilities, the transparency enhanced by the internet and also control the internet to purchase find less expensive seats thereby increasing their utility. The airline has also not been able to achieve customer loyalty from most of its online customers. The study shows that most of the online customers are not bra nd loyal. Summary The paper discusses the Continental Airline’s effectiveness in exploring the use of online-based marketing. The paper discusses the purpose and scope of the study and also carries out a literature review of William Brunger ‘s journal. The paper explores the evolving role of marketing, the use of internet in channel management as well as in product pricing and management. The paper also discusses the use of internet in marketing segmentation, targeting as well as positioning, it also analyses the use of the internet in marketing research and analysis. Finally, the paper discusses the failures of Continental Airlines in using internet. Conclusion Internet has changed the market strategies employed by organisations as well as the sales volume realised by organisations. It gives online customers the transparency and the capacity to explore all the available product prices and company brands and therefore make choices that meet their preferences and economi c abilities thereby giving them more control over company’s products. Online marketing also gives organisations the opportunity to increase the market positioning and therefore increase their market shares. Brunger, William. Revenue and Pricing Management. London: JINFORMS Revenue Management, 2010. Print. Finney, Zachary and Spake, Debora. Lost in transition? The human influence on  marketing’s emerging service-dominant logic. Journal of Management and Marketing Research. Alabama: University of Alabama Press, 2010. Print. Heinonen, Kristina, Strandvik, Tore and Voima, Paivi. Exploring customer valueformation: A customer dominant Logic Perspective. Hanken: Hanken School of Economics, 2010. Print. Lane, Leonard and Verlinda, Jeremy. The Effect of the Internet on Pricing in the Airline Industry. California: University of California Press, 2004. Print.

Racial Conflicts Essay Example | Topics and Well Written Essays - 1250 words

Racial Conflicts - Essay Example These racial conflicts have brought the societies to a different level, and seem to be rising day by day. With the existence of the racial conflicts, the history has shown how immensely they have affected the world economy and the standard of living. Although it is a global issue, it has been seen that each society has been adversely hit by the problem resulting in the impact on their quality of life. The world is one place which has to be protected and our species given the right to live freely. Unfortunately, due to the value of life, conflicts arise constantly crossing the ideas of religion, social class, and appearances. Although it can be assessed that most of us can live with at least one, but for most of us, it is a critical point (Levine 128). As an effect, the political leaders feel constantly pressurized as to the influence of these racial groups. And thus, while making necessary decisions, they might as well feel partial or biased. Their choices tend to reflect the whole world. This is because control of one country affects the surrounding countries as well and impacts the racial groups throughout the globe, if of the same kind. The other countries thus act as a chain of reactions that may be brought in one country. In many ways, it has been assessed that the racial conflicts are not the result of few, but of many. And it does not only affect one of the aspects but affects the whole globe collectively. These racial conflicts have been affecting the various factors of the globe. On one hand, it affects the psychological growth of the racial group as they have to suffer criticisms, unfairness, and inequality in the society at the hands of the majorities.  Ã‚  

Business Resources Essay Example | Topics and Well Written Essays - 1000 words

Business Resources - Essay Example The mere presence of resources in a business is not sufficient to ensure that the business is successful. The resources of a business should be employed in an intelligent and strategic manner to ensure its success. The human resources of a business include the personnel and employees working in the company. The human resources also include the management expertise and skills resources. The human resources are considered to be the most critical resources of a business in the modern business world. The effectiveness of the human resources of a business can be gauged with the help of the skill base achieved in the business. The skills possessed in a business and the ability to use the skills to meet the changing dynamics and requirements of the business are important factors that should be considered for evaluating the human resources of the business. The audit of the human resources should be conducted periodically to ensure that the assessment of the human resources available to the business is done fairly and to find out the emerging needs of the business regarding human resource management. Some relevant factors that can be used to audit the human resources are the identification of resources of staffing like the number of employees by function, the remuneration, qualification, location, experience, and grades of the employees. The assessment of key intangibles like business culture and morale are other factors which can be used to represent the effectiveness of human resources present in a business. The physical resources of a business include a number of operational resources that can be used for the delivery of specific strategies using physical capabilities. The physical resources of a business may be of many types and can vary according to the nature and scale of the business. The production facilities like capacity, production processes, maintenance and investment requirements, quality and organization are important factors which decide the effectiveness of physical resources in an organization.

Review of Literature on the Attributes of the Ideal Leader in Higher Research Paper

Review of Literature on the Attributes of the Ideal Leader in Higher Education - Research Paper Example Quaqebeke & Knippenberg (2012) contended that leaders can only be effective when they are able to exercise influence over subordinates. A researcher viewed that when subordinates look at their leaders as ideal, they will follow them with respect and likes to be self-identified with them. Using self-other-overlap measure, researchers determine the level of respect accorded by the respondents to their leaders through their communicative openness with them (Quaqebeke et al., 2012). Mael and Ashford identification questionnaire was also utilized to know if they can self-identify themselves with their respective leaders.Researchers confirmed that the relationship between leader categorization and openness to leadership is stronger, which posit that more subordinates thought of themselves as imbibed with ideal leaders qualities. They further agreed that people's categorization of leaders and themselves is contingent upon if the ideal leader category is viewed as far from standards set as t he benchmark.Aaker (2003) meanwhile studied the leadership styles of female administrators in Tennesee using 13 two-year community colleges (p.1). Through Leadership Practice Inventory and with demographic data of varied respondents, Aaker (2003) argued that the traits commonly used in leadership are enabling, modeling, encouraging, challenging, and inspiring (p. 1). Aaker (2003) likewise affirmed that there are no significant differences between female executives designated in students affairs (p. 1).

Fw Taylor Scientific Management Theory Business Essay

Fw Taylor Scientific Management Theory Business Essay This leadership style is about take it or leaves it, which means that the boss has the right to make decisions not the workers. In such leadership style there is always one way communication. Workers sometime feel demotivated because the managers do not benefits from the experience of their employees working in organization from a very long. Democratic There is a two way communication which means that in democratic leadership style workers are also involve in decision making because managers think that they can get new ideas from workers for the success of the business. While making quick decisions consulting staff can be a time consuming as well. Paternalistic This is leadership style where managers consult staff to make decisions but at the end managers decide what they think is the best for them. In such case workers sometime gets demotivated because they give their ideas but managers just ignore them due to which workers think that they are just a time wasters. Laisse Fair A type of leadership where managers let worker go and delegate all the authority of decision making. Workers have full rights of decision making as the managers are not even able to come up with any goal or direction and completely involve workers in decision making. Some employees sometime get lost because of a lack of direction and framework and no feedback from managers. P7 F.W Taylor Scientific Management Theory Taylor made his first attempt on workers motivation. His thoughts about workers motivation were that management should give workers proper instructions about their job to increase workers productivity. Taylors scientific approach was that select worker to perform a task, record the time taken by each worker to do each part of the task and then identify the quickest method recorded, train workers by the recorded quickest method and do not allow workers to make any changes to it, give workers a specific time period to complete their task and supervise them so that they do not exceed the given time limit and pay workers based on their performance. The result of Taylors research was that many industries adopt Taylors approach for greater profit as the approach was about increase productivity and performance related pay. Adams Equity Theory A theory which focuses on peoples feelings of how fairly they have been treated Depends on the comparisons we make with others and on how we perceive the relationship between inputs i-e time, effort, skills, experience, ideas and outputs i-e remuneration and recognition. If we think we have done better than we should have done, we may feel some tension but can bear that more easily than feeling hard done by Elton Mayo Human Relations Theory Mayo is best known for his Hawthorne effect. These were based on series of experiments conducted over five year period. Initially his work was based on the assumptions that working conditions, lighting, rest periods etc has a significant impact on workers productivity. But later on experiments were conducted which forced mayo to accept that working conditions are not important in determining productivity level as there are other motivational factors needed to improve workers productivity level. Mayo did the conclusion from his work that changes in working conditions and financial reward have little or no impact on productivity while when there is a team or group working system in industries, management consult workers, take interest in their work, give workers role in decision making can be improve productivity level. Maslow Hierarchy Theory Maslows hierarchy of needs Physiological Need These are the basic needs thus managers should give employees a proper salaries so that employees purchase the basic necessities of their life. They should give break and eating opportunities for their employees. Safety Needs These needs includes environmental, emotional and safety protection. Managers should give workers flexible contracts, health and safety at work, financial security etc to retain them. Social Needs This is about the social event for the employees and making team work system by the managers to encourage employees towards their jobs. Esteem Needs Esteem needs of employees can be fulfill by managers to reward employees and exceed their targets. Manager can give employees higher job positions in organization which helps in bringing the status of employees higher. Self Actualization Self actualization needs are the need where managers give challenges to their employees during their jobs to fully utilize employees skills and growth opportunities are also given to employees by the managers so that they reach to its highest. Hygiene Theory Hygiene needs are the needs which does not meet and cause employees to dissatisfaction. Meeting these needs does make employees satisfy but it hardly prevents them from dissatisfaction. Hygiene is a medical word which means to do something that is necessary. If the Hygiene motivation theory is present then management should not only provide hygiene factors to avoid dissatisfaction of employees but should also provide factors to the work itself for their employees to be satisfied with their jobs. Below is the table that contains factors that lead employees to satisfaction and dissatisfaction; Factors leads employees to satisfaction Factors leads employees to dissatisfaction Achievement Recognition Work Itself Responsibilities Advancement Growth Company policy Supervision Relationship with Boss Work Conditions Salaries Vroom Expectancy Theory of Motivation Vroom suggested that individuals choose to behave in ways that they believe will lead to outcomes that value. His expectancy theory states that individuals have different sets of goals and can be motivated if they believe that there is a positive link between effort and performance and favorable performance will result on a desirable reward. The reward will satisfy important needs. His expectancy theory is based on the following beliefs; Valence: The depth of the want of an employee for a reward such as money or a reward such as satisfaction. Expectancy: The degree to which people believe that putting effort into work will lead a given level of performance. Instrumentality: The confidence of an employee that he/she will actually get what they desire even if it promised by the manager. P8 Monetary Rewards It is also called financial reward system where organizations motivate employees through money. Below are some monetary reward systems; Hourly or wage rate system This is the most common way of paying and multiplies it by the wage rate so that employees collect their wages by the end of the day. A problem with this system is that workers deliberately slow down their work during the day so that they finish their work late and work as an over time. in such cases employees have no job security and incase of sickness a worker does not get paid. Piece Rate System This is given by FW Taylor which is about output related pay. Workers get paid according to their work they have done in a time period. Incase of sickness there is no money and also workers do work quickly in order to make more money due to which quality can be comprise. Salary System Salary is only given to an employee who has legal job contract. Diference in salaries of two different employees is due to the difference in their skills. Employees sometime get an increase in their salaries by the end of the year. Employees with legal contracts get paid even when an employee is sick or on vocation. Commissions Usually given to sales men and is calculated as percentage of sales that an employee make. Normally an employee gets a basic salary plus commission to motivate worker to work hard. This means that an employees income is dependent upon their work however workers do not like to work just on commission. Performance Related Pay Usually given to above average performance workers and is given to management staff. It involves the following procedures; Give workers a target to achieve in a specific time period Check workers performance at the end of the time period Pay workers according to the degree to which they meet the target. A problem with performance related pay is that can do favoritism and pay their family and friends instead someone who really deserves it. Profit sharing This is a way of paying senior management staff i-e CEO or MD. The idea behind it is to break the line and make employees apart of the owners. Usually companies share profits by giving shares, dividends, share in sales revenue, share in retained profits etc. By profit sharing companies get 100% loyalty and motivation from their employees. Non Monetary Rewards This is called non financial rewards where organizations motivate their employees not through money. They motivate employees through training, interaction and delegation and authority. Below are some non monetary reward systems; Job Rotation it is originated from Japan where organizations change the departments of their employees time after time. Job rotation does not bore make an employee get bore with his job because his jobs rotates to different departments with different jobs. Sooner the employee becomes a multi specialize person. Job Enrichment An employee stays on his post but his job scope and responsibility increases. This means an organization load an employee with more than one task. Job Enrichment Given by Herzberg involves not only allowing an employee reach to his full ability but also giving less supervision. This involves the following 3 steps; Let the worker perform a complete unit of tasks so that a worker does not get bored by doing the same job again and again. In other words do not do division of labor. Place a system where you can measure the performance of workers. Let the workers know that this hard work is being judged. Give workers task or challenges other than their routine work. Team Working Division of labor moves away team building therefore do not do division of labor and let employees join teams of their own choice. A team can choose a leader, can be given targets, and team member develop team spirits and hence workers are more productive. A common example a team building is a cell production. Experience shows that firms that encourage team building come up with more quality work. Quality Circles A quality circle is a group of friends meeting in informal manner once a week to discuss about work. Usually if new ideas comes out of a circle the is communicated to the CEO. A disadvantage of quality circle is that workers gossip and talks against each other. Target Setting When an organization sets targets then the following is obtained; They can have a starting point They can have an end point They can choose a direction They can put a time frame They can have a control mechanism They can check the performance of workers. Delegation and Empowerment When the authority is delegated to someone then it means that a person is trust worthy and a trust worthy person always maintain his trust and work hard for the success of the organization. P9 Formal Group It is a systematic grouping of workers in organization to achieve organizational goal in a best possible way. The importance of formal group working is discussed below; Importance of formal group working It helps to carry out specific tasks into different departments to deal with human resources, marketing or accounts. Groups set up from time to time to deal with particular problems i-e to discuss how the introduction of new technology might be handled. Group comes together to work on particular project of organization. Informal Group A group formed by the employees themselves having similar interest or may have something else in common. The importance of informal group working is discussed below; Importance of Informal Group Working Informal groups can improve communication and exchange of ideas for employees in organization and can make work more enjoyable. It helps to support their group members and protect them from the external authority and outside pressure. It increases the employees security and sometime it also enable work to be done more effectively. Group working also assist managers to solve problems as when they notice that any individual is involve in taking advantage of a situation which can cause problem for the group members, they just take a step to come over such situation before the manager is aware of it. Factors which Affect Individual Behavior at Work The major factors affect individual behaviors at work are Demographic factors, abilities and skill, attitude and personality. All these factors are discussed below; Demographic Demographic factor is about the background of an individual according to his, education, skill, age, nationality etc. Organization always prefer such an individual that belongs to a have high qualification, having good skills for communication, young age etc because organizations believe that such individuals are performing well for organization. Individuals belong to a good background having good and effective communication skills are always in demand by organizations. Study of demographic factors really helps managers to select a candidate for a particular job. Ability and Skills The physical power of individual to do something is call ability while skills are defined as the ability to perform in a way that allow individual to perform well. The performance of individual is highly influence by the ability and skills because with full ability and well skill can perform well for the organizations and managers always try to hire an individual that meet the required ability and skill for a specific job. Attitude It can be defined as the ability to respond favorably or unfavorably to some sort of objects or situations. Culture, organization, society has an influence in formation of attitude because employees perform in organization in the way they have their environment. Managers are bound to study variables of a specific job to create an environment for their employees so that they have a positive attitude towards their jobs. Personality it can be defined as the study of characteristics of an individual and the way in which an individual respond. There are many factors that influence in individuals personality i-e culture, society and situations etc. Every individual has difference in their manner while responding to organizational environment. Organizations need to discover about the personality of individual through learning, observation and training etc for a particular job in organization. P10 The Major Factors That Lead to Effective Teamwork Communication Effective teamwork facilitates through clear communication. Team members must follow the same line with respect to their targets and responsibilities. Effective communication is supported by the a particular methods and mediums of communication in certain circumstances and such mediums of communication can be one to one meetings, emails, group talks etc. all the team member should feel free to know about further clarification and responsibilities of job and should feel free to make any suggestion for the advancement of the team. If any conflict arises and teams engage to overcome, they only way to overcome such conflict is to have effective communication instead of solving the issue in gossip. Leadership Leadership plays an important role in leading an effective teamwork. Managers should support all the team members by making them feel as they all work to their highest potential. They should encourage the team members to speak during team meetings to coordinate the efforts of the team members. By doing so motivation arises from managers for the team members and the team members feel as they are also part of the organization and perform with their full potential for the success of the organization. Team Building Exercises Shared experiences and practices also play an important role in developing an effective teamwork. By the introduction of new technology some team member will not see each other without making appoint. Team building exercises target to improve specific aspects of team such as communication and creativity. Games are the effective way to make the entire team member together to improve their relationship and promote their understanding of interest, strength and weaknesses etc. Factors that Threaten Teams Success Motivation Motivation is about to encourage workers to increase productivity and to improve their performance. If there is no concept of motivation in organization and teams do not have any rights to give any suggestion for the success of the business then teams will get demotivated and will promote their teams towards success. Leadership Leadership can be a threat for the teams success in such a manner that if there is an autocratic leadership style in organization and all the rights are with the managers not with the team workers, in any organization where the team workers do not have the right find any solution for the minor issue arise while they are working and are bound to ask for the upper level manager for any conflict then the team will not last for longer and their team development will come to stop at that point. Advancement in the new technology With the introduction of new technology team members of some organizations do not have the ability to operate with it and the team members need to have a proper on the job and off the job training. If organization fails to provide training program for their team to get use of the new technology this will be the serious threat for the success of the teams. P11 Impact of Technology on Communication and Information Technology Technology has increased the speed of communication between office workers, communication with suppliers, banks, and even with customers. Technology came up with computers, internet and intranet which made communication easy and faster. Team workers communicate with each other for achieving their team task through emails. Every team has a team leader and the leader passes the information to the rest of the team members. Email made it very easy for the team workers to communicate each other as whenever the team leader has any task for the rest of the member the leader put all the information in email and send a loop email to all the members. The advantage of the loop email is that all the members will receive the same email with the same information not everyone will get separate email. Inside the organization employees communicate each other through intranet which a good source of communication to communicate from one department to another. Intranet is normally use in every organizat ion having lots of different departments where it is very difficult to walk each department to pass any authority but technology made it very easy due to which every department is now link with each other and whatever information is needed to pass can be done quickly from any department without walking to other department. M3 Bill Gates Bill Gates was born on 28th October 1955 in Seattle, Washington. He belongs to a family of entrepreneurship. He had an interest in software. Bill Gates was co founder, chairmen and chief executive officer of Microsoft. Bill gates became a student at Harvard University in1973. He is also known as the richest person of the world. In 1975 he left Harvard to form Microsoft with his friend Paul Allen to develop software for the new personal computer market. Characteristics of Bill Gates Bill Gates was very smart and intelligent person because he skip math that is because he scored 1590 out of 1600 on SAT. He was a brave one because when he was to lose lots of profit from Microsoft he went to court to fight against IBM and finally won against IBM. Bill Gates is very serious of what he does. Whatever he used to start he did not do anything else until he is done with the first one even if it takes him a longer time. He is able to a successful entrepreneurship for many years till now due to which he is known as the worlds successful entrepreneur. He is a hard worker and self confident person that helped him to achieve everything and is one of the ideal personalities of the world. He believes that if you are intelligent and confident from your childhood you can achieve anything, all such qualities took him to a top position in his chosen professional. Microsoft was his vision that a computer on every disk and every computer with Microsoft software. His basic vision was also that even every house hold must have computer with Microsoft software. When Bill Gates was a student every student wanted to graduate as successful. Bill Gates stop studying and started writing software for computer, his passion about coding, technology and software made his the richest person. Leadership Style of Bill Gates Bill Gates has directive and participative leadership style he specifies that what needs to be done to achieve productivity. He Believe that a task should be planed and organized so that he or she receive a proper guidance about their job. If a task is not clear then still a directive leader is there to clarify the task. He is very participative and involves his potential employees in decision making to get useful ideas from them for the success of the business. Steve Jobs Steve Jobs was born on 24th February 1955 in San Francisco. He was co founder and CEO of Apple. Jobs used to be in garages of his neighborhood working on electronic on weekends and this shaped his interest in the field where he grew. When jobs reach college age he requested his parents to get enroll in Reed college one of expensive college in Oregon where he just spent a time of one semester and then dropped out. During 1980 Jobs developed Mac operating system for Next Computer Company but it was actually owned by Apple due to which Mac was realized by Apple in 1990. Characteristics of Steve Jobs Steve Jobs was also a very confident and intelligent as Bill Gates. As he was interested in the field of electronic and grew in that field as well, he brought all his efforts and experience into practice and came up with new developments for the new generation i-e he came up with Mac operating system and other electronic devices. He was a leader as he knows the best, he was not in favor of involving other in his decisions. His had an autocratic leadership style due to which employees were demotivated because they had no rights over the business. Steve Jobs was a hard worker and he would not let go of a problem until it was solved and once the first problem was solver he used to move to the next one. He had enough knowledge of what is going on with the product because he wanted Apple to be the great one. Whatever he was building was the most beautiful product. His aim was to come up with beautiful products to market and make lots of money from it. Leadership Style of Steve Jobs Steve Jobs had an autocratic leadership style, he kept all the rights to himself and did not use others ideas. His policy was that employees were not involves in decision making. Analyze Bill Gates and Steve Jobs Both the leaders were successful leaders. Bill Gates wanted to make computers and Microsoft software more popular among people and wanted to see computer along with Microsoft software everywhere. Bill Gates is an intelligent leader and has directive or participative leadership style while Steve Jobs had an autocratic leadership style which was not as good as compare to Bill Gates leadership style because the leadership style use by Bill Gates is also the way of motivating employees giving them rights in decision making while people criticized on the leadership of Steve Jobs where employees felt that they are not part of the company because Steve Jobs wanted employees to be far from the decision making. By the comparison of Bill Gates and Steve Jobs the policy applied by Bill Gates is the best one according to the motivation of employees. M4

Thos Pynchons The Crying of Lot 49 - Her Errand Into the Wilderness :: Crying Lot 49 Essays

The Crying of Lot 49: Her Errand Into the Wilderness One of the central themes touched upon in Pierre-Yves Petillon's Essay, "A Re-cognition of Her Errand Into the Wilderness," is the general sense of awakening one feels when he reads Thos Pynchon's The Crying of Lot 49. Petillon begins his essay by expressing the opinion that "it is rather odd that The Crying of Lot 49, a slim novella should have become an overnight classic (O'Donnell, p.127)." What at first seemed like a typical piece expounding the virtues of LSD, turned out to have much more under the surface than a first reading would reveal. "Here was another 'groovy' sample of the emergent psychedelic scene: om, sweet om, O(edipa) M(ass) and her Lonely Hearts Club Band (O'Donnell, p. 128)." Petillon touches upon the book's power beautifully by realizing that "its 'mood' grows upon you with each reading (O'Donnell, p. 129)." Born in the Late 1930's, Thomas Pynchon "came of age during 'the Eisenhower Siesta,' when everything had, it seemed, slowed to a sudden standstill (O'Donnell, p. 135)." Petillon then relates Lot 49 to Jack Kerouacs On The Road, by telling of their simultaneous "sense of 'blooming,' as if awakening from a long sleep (O'Donnell, p. 130)." He also points out that both Kerouac's and Pynchon's main characters (Kerouac's being himself, and Pynchon's being Oedipa Maas), both move further and further into an "invisible, hidden America (O'Donnell, p. 130)." I believe the one thing Petillon has failed to mention adequately, though, is the fact that the reader never gets a sense of their surroundings. When awakening from a long sleep, one usually ends up with a general awareness and clarity as to what is going on around him. However, with The Crying of Lot 49, you come to end of the story, or the end of the awakening if you will, only to find that you have slipped further into a dream.