Wednesday, November 27, 2019
Woman At Work Essay Example For Students
Woman At Work Essay Women at WorkIn colonial America, women who earned their own living usually became seamstresses or kept boardinghouses. But some women worked in professions and jobs available mostly to men. There were women doctors, lawyers, preachers, teachers, writers, and singers. By the early 19th century, however, acceptable occupations for working women were limited to factory labor or domestic work. Women were excluded from the professions, except for writing and teaching. The medical profession is an example of changed attitudes in the 19th and 20th centuries about what was regarded as suitable work for women. Prior to the 1800s there were almost no medical schools, and virtually any enterprising person could practice medicine. We will write a custom essay on Woman At Work specifically for you for only $16.38 $13.9/page Order now Indeed, obstetrics was the domain of women. Beginning in the 19th century, the required educational preparation, particularly for the practice of medicine, increased. This tended to prevent many young women, who married early and bore many children, from entering professional careers. Although home nursing was considered a proper female occupation, nursing in hospitals was done almost exclusively by men. Specific discrimination against women also began to appear. For example, the American Medical Association, founded in 1846, barred women from membership. Barred also from attending mens medical colleges, women enrolled in their own for instance, the Female Medical College of Pennsylvania, which was established in 1850. By the 1910s, however, women were attending many leading medical schools, and in 1915 the American Medical Association began to admit women members. In 1890, women constituted about 5 percent of the total doctors in the United States. During the 1980s the proportion was about 17 percent. At the same time the percentage of women doctors was about 19 percent in West Germany and 20 percent in France. In Israel, however, about 32 percent of the total number of doctors and dentists were women. Women also had not greatly improved their status in other professions. In 1930 about 2 percent of all American lawyers and judges were women in 1989, about 22 percent. In 1930 there were almost no women engineers in the United States. In 1989 the proportion of women engineers was only 7. 5 percent. In contrast, the teaching profession was a large field of employment for women. In the late 1980s more than twice as many women as men taught in elementary and high schools. In higher education, however, women held only about one third of the teaching positions, concentrated in such fields as education, social service, home economics, nursing, and library science. A small proportion of women college and university teachers were in the physical sciences, engineering, agriculture, and law. The great majority of women who work are still employed in clerical positions, factory work, retail sales, and service jobs. Secretaries, bookkeepers, and typists account for a large portion of women clerical workers. Women in factories often work as machine operators, assemblers, and inspectors. Many women in service jobs work as waitresses, cooks, hospital attendants, cleaning women, and hairdressers. During wartime women have served in the armed forces. In the United States during World War II almost 300,000 women served in the Army and Navy, performing such noncombatant jobs as secretaries, typists, and nurses. Many European women fought in the underground resistance movements during World War II. In Israel women are drafted into the armed forces along with men and receive combat training. Women constituted more than 45 percent of employed persons in the United States in 1989, but they had only a small share of the decision-making jobs. Although the number of women working as managers, officials, and other administrators has been increasing, in 1989 they were outnumbered about 1.5 to 1 by men. Despite the Equal Pay Act of 1963, women in 1970 were paid about 45 percent less than men for the same jobs; in 1988, about 32 percent less. Professional women did not get the important assignments and promotions given to their male colleagues. Many cases before the Equal Employment Opportunity Commission in 1970 were registered by women charging sex discrimination in jobs. Working women often faced discrimination on the mistaken belief that, because they were married or would most likely get married, they would not be permanent workers. .uc665d0f6e8bd20b7734e0380e5885d27 , .uc665d0f6e8bd20b7734e0380e5885d27 .postImageUrl , .uc665d0f6e8bd20b7734e0380e5885d27 .centered-text-area { min-height: 80px; position: relative; } .uc665d0f6e8bd20b7734e0380e5885d27 , .uc665d0f6e8bd20b7734e0380e5885d27:hover , .uc665d0f6e8bd20b7734e0380e5885d27:visited , .uc665d0f6e8bd20b7734e0380e5885d27:active { border:0!important; } .uc665d0f6e8bd20b7734e0380e5885d27 .clearfix:after { content: ""; display: table; clear: both; } .uc665d0f6e8bd20b7734e0380e5885d27 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uc665d0f6e8bd20b7734e0380e5885d27:active , .uc665d0f6e8bd20b7734e0380e5885d27:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uc665d0f6e8bd20b7734e0380e5885d27 .centered-text-area { width: 100%; position: relative ; } .uc665d0f6e8bd20b7734e0380e5885d27 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uc665d0f6e8bd20b7734e0380e5885d27 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uc665d0f6e8bd20b7734e0380e5885d27 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uc665d0f6e8bd20b7734e0380e5885d27:hover .ctaButton { background-color: #34495E!important; } .uc665d0f6e8bd20b7734e0380e5885d27 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uc665d0f6e8bd20b7734e0380e5885d27 .uc665d0f6e8bd20b7734e0380e5885d27-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uc665d0f6e8bd20b7734e0380e5885d27:after { content: ""; display: block; clear: both; } READ: William Bradford Analysis Essay But married women generally continued on their jobs for many years and were not a transient, temporary, or undependable work force. From 1960 to the early 1970s the influx of married women workers accounted for almost half of the increase in the total labor force, and working wives were staying on their jobs longer before starting families. The number of elderly working also increased markedly. Since 1960 more and more women with children have been in the work force. This change is especially dramatic for married women with children under age 6: 12 percent worked in 1950, 45 percent in 1980, and 57 percent in 1987. Just over half the mothers with children under age 3 were in the labor force in 1987. Black women with children are more likely to work than are white or Hispanic women who have children. Over half of all black families with children are maintained by the mother only, compared with 18 percent of white families with children. Despite their increased presence in the work force, most women still have primary responsibility for housework and family care. In the late 1970s men with an employed wife spent only about 1.4 hours a week more on household tasks than those whose wife was a full-time homemaker. A crucial issue for many women is maternity leave, or time off from their jobs after giving birth. By federal law a full-time worker is entitled to time off and a job when she returns, but few states by the early 1990s required that the leave be paid. Many countries, including Mexico, India, Germany, Brazil, and Australia require companies to grant 12-week maternity leaves at full pay. Women at WorkIn colonial America, women who earned their own living usually became seamstresses or kept boardinghouses. But some women worked in professions and jobs available mostly to men. There were women doctors, lawyers, preachers, teachers, writers, and singers. By the early 19th century, however, acceptable occupations for working women were limited to factory labor or domestic work. Women were excluded from the professions, except for writing and teaching. The medical profession is an example of changed attitudes in the 19th and 20th centuries about what was regarded as suitable work for women. Prior to the 1800s there were almost no medical schools, and virtually any enterprising person could practice medicine. Indeed, obstetrics was the domain of women. Beginning in the 19th century, the required educational preparation, particularly for the practice of medicine, increased. This tended to prevent many young women, who married early and bore many children, from entering professional careers. Although home nursing was considered a proper female occupation, nursing in hospitals was done almost exclusively by men. Specific discrimination against women also began to appear. For example, the American Medical Association, founded in 1846, barred women from membership. Barred also from attending mens medical colleges, women enrolled in their own for instance, the Female Medical College of Pennsylvania, which was established in 1850. By the 1910s, however, women were attending many leading medical schools, and in 1915 the American Medical Association began to admit women members. In 1890, women constituted about 5 percent of the total doctors in the United States. During the 1980s the proportion was about 17 percent. At the same time the percentage of women doctors was about 19 percent in West Germany and 20 percent in France. In Israel, however, about 32 percent of the total number of doctors and dentists were women. Women also had not greatly improved their status in other professions. In 1930 about 2 percent of all American lawyers and judges were women in 1989, about 22 percent. In 1930 there were almost no women engineers in the United States. .u24b565b173990727c1fb6d5549a20b56 , .u24b565b173990727c1fb6d5549a20b56 .postImageUrl , .u24b565b173990727c1fb6d5549a20b56 .centered-text-area { min-height: 80px; position: relative; } .u24b565b173990727c1fb6d5549a20b56 , .u24b565b173990727c1fb6d5549a20b56:hover , .u24b565b173990727c1fb6d5549a20b56:visited , .u24b565b173990727c1fb6d5549a20b56:active { border:0!important; } .u24b565b173990727c1fb6d5549a20b56 .clearfix:after { content: ""; display: table; clear: both; } .u24b565b173990727c1fb6d5549a20b56 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u24b565b173990727c1fb6d5549a20b56:active , .u24b565b173990727c1fb6d5549a20b56:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u24b565b173990727c1fb6d5549a20b56 .centered-text-area { width: 100%; position: relative ; } .u24b565b173990727c1fb6d5549a20b56 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u24b565b173990727c1fb6d5549a20b56 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u24b565b173990727c1fb6d5549a20b56 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u24b565b173990727c1fb6d5549a20b56:hover .ctaButton { background-color: #34495E!important; } .u24b565b173990727c1fb6d5549a20b56 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u24b565b173990727c1fb6d5549a20b56 .u24b565b173990727c1fb6d5549a20b56-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u24b565b173990727c1fb6d5549a20b56:after { content: ""; display: block; clear: both; } READ: The French and Indian War As a Cause Of the Americ Essay In 1989 the proportion of women engineers was only 7.5 percent. In contrast, the teaching profession was a large field of employment for women. In the late 1980s more than twice as many women as men taught in elementary and high schools. In higher education, however, women held only about one third of the teaching positions, concentrated in such fields as education, social service, home economics, nursing, and library science. A small proportion of women college and university teachers were in the physical sciences, engineering, agriculture, and law. The great majority of women who work are still employed in clerical positions, factory work, retail sales, and service jobs. Secretaries, bookkeepers, and typists account for a large portion of women clerical workers. Women in factories often work as machine operators, assemblers, and inspectors. Many women in service jobs work as waitresses, cooks, hospital attendants, cleaning women, and hairdressers. During wartime women have served in the armed forces. In the United States during World War II almost 300,000 women served in the Army and Navy, performing such noncombatant jobs as secretaries, typists, and nurses. Many European women fought in the underground resistance movements during World War II. In Israel women are drafted into the armed forces along with men and receive combat training. Women constituted more than 45 percent of employed persons in the United States in 1989, but they had only a small share of the decision-making jobs. Although the number of women working as managers, officials, and other administrators has been increasing, in 1989 they were outnumbered about 1. 5 to 1 by men. Despite the Equal Pay Act of 1963, women in 1970 were paid about 45 percent less than men for the same jobs; in 1988, about 32 percent less. Professional women did not get the important assignments and promotions given to their male colleagues. Many cases before the Equal Employment Opportunity Commission in 1970 were registered by women charging sex discrimination in jobs. Working women often faced discrimination on the mistaken belief that, because they were married or would most likely get married, they would not be permanent workers. But married women generally continued on their jobs for many years and were not a transient, temporary, or undependable work force. From 1960 to the early 1970s the influx of married women workers accounted for almost half of the increase in the total labor force, and working wives were staying on their jobs longer before starting families. The number of elderly working also increased markedly. Since 1960 more and more women with children have been in the work force. This change is especially dramatic for married women with children under age 6: 12 percent worked in 1950, 45 percent in 1980, and 57 percent in 1987. Just over half the mothers with children under age 3 were in the labor force in 1987. Black women with children are more likely to work than are white or Hispanic women who have children. Over half of all black families with children are maintained by the mother only, compared with 18 percent of white families with children. Despite their increased presence in the work force, most women still have primary responsibility for housework and family care. In the late 1970s men with an employed wife spent only about 1.4 hours a week more on household tasks than those whose wife was a full-time homemaker. A crucial issue for many women is maternity leave, or time off from their jobs after giving birth. By federal law a full-time worker is entitled to time off and a job when she returns, but few states by the early 1990s required that the leave be paid. Many countries, including Mexico, India, Germany, Brazil, and Australia require companies to grant 12-week maternity leaves at full pay.Economics Essays
Saturday, November 23, 2019
English literature unit 1 assignment 2 Essays
English literature unit 1 assignment 2 Essays English literature unit 1 assignment 2 Essay English literature unit 1 assignment 2 Essay The women in Spies are mainly presented through the eyes of the younger Stephan, whose growing maturity means that his views often change throughout the novel. It is important to note that his views may be mixed due to the nature of the main women in the text; Mrs Hayward and Barbara Berrill; they do not portray the typical attitudes of women in the 1940 era.Stephens particular attention to Mrs Hayward when comparing their families greatness to his own is important, because it shows early on that he notices things about women that he finds particularly remarkable; this is apparent when the older Stephan ponders whether his younger self would have perceived the grace and sincerity of Keiths mother quite so clearly if his own hadnt spent most of the day in a faded apron, sighing and anxious? It is clear that Stephen admires Mrs Hayward for her social appearance amongst the women of the era. The attention to details of Mrs Hayward such as her perfectly plucked ey ebrows is a clear indication that the admiration of her by Stephan soon turns to fixation as he steps into the world of adolescence, she represents the older woman out of reach.Although Frayn frequently portrays Stephens dislike of women, there are many contradictions where he is showing affection for them; particularly Mrs Hayward and Barbara. Stephens first introduction of Barbara is very negative and dismissive. He introduces her as one of the children in the close, she is beneath our notice, sly and treacherous as most girls are. When she enters the den Stephen is shocked and outraged that she crossed the line into the boys world. As her presence in the den continues theres a difference in Stephen as he begins to accept that mankind and womankind are related.As Stephen enters adolescence he begins to notice things about Barbara, that as of her first visit to the den changed. Frayn tries to make this clear by the in depth, positive descriptions of her, even when Stephen protested he didnt like her. Theres something girlishly self satisfying about the bobliness of the leather and the shininess of the purse that offends me almost as much as her intrusion.Frayns theme of domination in the text is well expressed through his presentation of the women in the text. We have Barbaras superiority over Stephan. An example of her intellectual superiority is when she was mocking Stephen, you mean you dont know what privet is? she exerts her physical superiority over Stephen when she effortlessly pushes him over and pins him down to get a look into the basket. Similarly Mrs Hayward, as Barbara did, recognises the mistake made by Keith about the spelling of the sign very thoughtful of you chaps to put that label on it, meaning that she believes that the boys merely labelled the hedge. She also expresses her control over Stephen, making it clear to him that she controls his friendship with Keith, I dont want to have to stop him seeing you. It is made obvious that she is ve ry persuasive. When she is in need of something from Stephen, she uses persuasive language to encourage him to trust her so you see Im trusting you, Im putting you on your honour, this is to the point and forceful but in a soft tone that Stephen can find calming, something that he wont fear but admire.In contradiction the women also show weakness. Barbara shows signs of submissiveness when her mother calls her in and threatens her if shes late. When Keiths father comes to talk to Stephen, Barbara also shows fear as she cowers away. The biggest example of submissive behaviour from the women in the story are that of Mrs Hayward; on the surface she is an assertive, well presented woman who takes pride in her appearance physically and communally. But beneath the surface is a maze of physical abuse and male dominance. As the first signs of domestic abuse within the Hayward house become apparent, the reader is convinced that Mr Hayward is a dominant and unpleasant individual. Stephen noti ces that on occasions Mrs Hayward is made up more heavily than usual and wears high cravats that cover her neck, probably to cover any visible signs of abuse.In conclusion Frayn portrays the women in the text as superior mentally and intellectually to the males. However it is also important to see them as submissive, it plays a large role within the text. In my opinion this technique used by frayn of having the aspects of the women tells the story, brings the concepts of modern and olden day living together. This creates realism for the reader to develop and create a mental picture of what may have gone on with the women during this time within the story.
Thursday, November 21, 2019
Different responses Essay Example | Topics and Well Written Essays - 750 words
Different responses - Essay Example People with specific leanings, shaped by their age, gender or values, may observe and interpret Mrs. Mallardââ¬â¢s character using their own lens of perception. Feminists readers, on reading the immense emotional turmoil that Mrs. Mallard goes through as the realization dawns on her that she is finally free, may lament the bondages of marriage that pushed a woman to such desperation and depravity that she had to wait for a husbandââ¬â¢s death to breathe in free air. A feminist perspective would therefore interpret Mrs. Mallard as a wife, who was feeling stuck and suffocated by her husband, probably due to lack of compatibility between them. In spite of this repressed desperation, Mrs. Mallard has been conditioned by the society to continue to play the role of a good wife. She plays that role as automation, even forgetting what her true feelings and desires were, until one day her husband is dead and her deeply buried feelings rush to the surface. Even at that specific moment, she reacts, with I believe female readers would relate and sympathize with Mrs. Mallardââ¬â¢s character, as more often than not, women have experienced suppressi on and had to repress their desires to maintain appearances of congeniality imposed on them by society. On the other hand, male readers probably would be harsher and judgmental of Mrs. Mallard, as she is a woman well provided for by her husband who had a ââ¬Å"face that never looked saved with love upon herâ⬠. Ideally, in a male dominated society, a womanââ¬â¢s assigned position is to dedicate herself to husband and home, which is does not appear to be the case with Mrs. Mallard. A woman, whose husband is dead, is expected to feel the emotions of remorse, despondence and even fear of a long and lonely life, even if that husband was a dastard when alive. Chopin has managed to capture the presumed dead husbandââ¬â¢s character in just a few sentences - that he was a good husband who
Wednesday, November 20, 2019
Physics midterm Essay Example | Topics and Well Written Essays - 250 words
Physics midterm - Essay Example How does the weight of an object affect its motion? And finally what is the effect of other forces other than gravity on the objects motion? The following measurements were taken in the lab: The objects displacement over time during the fall and the Carts displacement over time starting from rest. The time interval for the cart for five different inclination angles and the time interval when the angle of inclination for the cart is constant, and the mass is varied were noted. The measurement taken in the lab relate to the principals used in the experiment. Using the measurements and the basic kinematic equations we have calculated displacement, velocity and acceleration. Therefore the motion of the object in free fall and an inclined plane has been described. The lab relates to the material covered in class since using the data we have confirmed the expected results from theoretical analysis using the actual results. Real world applications of this lab include orbit calculations, explorations of oceans resources, satellite launch, exploration of natural resources and isometric height measurements. Bjà ¶rk, B. C. (2012). The hybrid model for open access publication of scholarly articles: A failed experiment?. Journal of the American Society for Information Science and Technology, 63(8),
Sunday, November 17, 2019
Prisons As Industry Essay Example for Free
Prisons As Industry Essay What is the most profitable industry in America? Weapons, oil and computer technology all offer high rates of return, but there is probably no sector of the economy as abloom with money as the privately run prison industry. Prison industry in recent years has become a high-profit business and it competes with industries such as the oil and gas industry. The aim of this paper therefore is to examine the industry as a whole. In examining the industry therefore, there shall be a cursory analysis of some salient point vis-à -vis the prison industry. à à à à à à à à à à à A very important fact is that the prison industry came about because of the congestion in the various government-owned prisons in throughout the country. The demand for prisons seems to be ever increasing and the public prisons scattered all around the country are incapable of providing adequately for this. Nearly every prison in America is overcrowded and will continue to be so if new prisons do not spring up. So therefore, the aim of the prison industry is to make provisions for more space to keep dissidents at a lower cost than federal prisons can. à à à à à à à à à à à In other words, privately owned prisons are unique because demand for prisons is high, while supply of prisons is low.à That is what makes this industry so appealing. Thus, privately owned prisons are good substitutes for federally run services. Therefore, this brings us to the issue of prison privatization. This involves the transfer of running state-owned prisons to private industries to manage. Thus, by using the private sector to build or manage prisons, many states believe that they can reduce costs. Privatization of prisons can take various forms. This includes: Contracting out services: This is the most common form of prison privatization. Currently, 39 states in the US hire private firms to provide such services as medical and mental health treatment, drug treatment, education, staff training, and vocational training and counseling. Contracting out prison labor This also is another means of privatizing prisons. By putting prisoners to work and paying inmates competitive wages, many private companies are reducing prison costs for the government by withholding earnings for taxes, room and board, family support, and victims compensation. Such employment also gives prisoners the skills and work experience that will prepare them for the job market when they are released from prison. Construction and lease/purchasing Many states see private construction as a promising solution to the prison over crowding crisis. States normally finance construction by cash appropriations (a pay-as-you-go approach) or by issuing general obligation bonds The points above are some of the ways by which prisons by various states in the US. In another vein, privatization of prisons can also occur at the federal level. For instance, the Federal Government of the United States recently proposed contracting with a private firm for a new 500 bed minimum-secure facility for illegal aliens. In addition, the Bureau has considered contracting for facilities to house special needs prisoners, such as juveniles, women, protective custody cases, and for prisoners needing medical services. However, the federal government is wary in contracting out the more mainstream prisoners such as those imprisoned in the Federal Correctional Institutions and the U.S. Penitentiary System. Nevertheless, the prison industry has raises certain questions. These questions must be answered before a deeper understanding and full grasp of the objectives of the industry can be achieved. The first question is that has the federal government abrogated its responsibility by privatizing prisons. In other words, Should the private sector be responsible for a function traditionally performed by the government sector? Evidence has shown that that prison privatization does not mean that the government relinquishes its responsibility. The government still would select the inmates to be placed in private prisons, choose the type of facility to be contracted out, oversee the contractors disciplinary practices and, most important, evaluate the contractors performance. Furthermore, another good question to be asked is whether service quality and flexibility is maintained or not? This is because some policy makers maintain that the quality of management in private prisons will tend to be high at first, because of competition and the desire to win contracts. However, they question the private sectors ability to sustain high-quality standards. This is not true of the prison industry because contracting standards are likely to improve over time as more firms enter the market and competition increases. Periodic bidding creates incentives for firms to improve constantly the quality and cost-efficiency of their performance. These above questions, among others, are some of the questions to ask in order to have an enlightened grasp of the prison industry. Now, it is of necessity to look at the history of prison industry. Historically, prison population started to grow in the United States in the 70s. Statistically, one out of every hundred adults is now imprisoned. In order to curtail the unwanted rise in the number of inmates, larger sentences are being imposed on to act as deterrent and other policies, which are known as the ââ¬Ëbroken windowââ¬â¢. They have introduced the ââ¬â¢three strikeââ¬â¢ policy which means that if you are convicted of any 3 offences you will receive life which is a very good deterrent. The state of Virginia applies this always, and has managed to slow the growth of the population (Bratton 2002). à à à à à In addition, the government has tried to seek alternative modes of punishing offenders instead of retaining them in the prison yards. Undauntedly however, the rate of offenders soars. This has gone a long way in boosting the prison industry. The industry is now much bigger than ever before worth around 40 billion dollars a year. Due to the overcrowding in state prisons and federal prisons, which are on average 34% over designed capacity according to the BJS report, the prison industry has to rely on private prisons. Many states enjoy the companies taking on the task of building the prisons and covering the costs and just charging the state per inmate, as the state tends to be a lot more lenient to a convicted felon in order to save money. So therefore, prison industry continues to soar high. Investors are now having good times because of their net profits from prison business. For example, the leading company in prison business, Corrections Corporation of America, has made a tremendous success in the business. The revenue of this company rose by 81% in 1995 alone. Again, Investors in Wackenhut Corrections Corporation, another leading prison industry,à have enjoyed an average return of 18 percent during the past five years and the company is rated by Forbes as one of the top 200 small businesses in the country as of today. The list goes on an on. Ten years ago, there were just five privately run prisons in the country, housing a population of 2.000. Nearly, a score of private firms run more than 100 prisons with about 62,000 beds today. Thats still less than five percent of the total market, but the industry is expanding fast, with the number of private prison beds expected to grow to 360,000 during the next decade. This could be said to be the reason why a recent headline in USA Today which says that; Everybodys Doin the Jailhouse Stock In view of this, the prison industry is now a lucrative business. In fact, almost 30 states in the US have 28 states have passed legislation making it legal for private contractors to run correctional facilities and many more states are expected to follow suit. God knows maybe one day, the prison industry will take over as the most lucrative and cost-effective business. To summarize it all, there are many reasons why America has incarcerated more of its population than any other country including China, which has a much greater population. The main reason is still the fact that the prison industry is being portrayed as a business and companies are making money from crime. Therefore, toughening of laws by both the federal and state governments does not help matter. Therefore, one can safely conclude that prison industry has come to stay. What is to be done now is for the government to tighten laws on the establishment of privately owned correction centers across the States. This would go a long way in ensuring that the privately owned prisons function effectively as their public counterparts. à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à à REFERENCES Tonry M., 2004. Prisons and Imprisonment, International Encyclopedia of the Social and Behavioral Sciences, Pages 12062-1206. Walker, S., Spohn, C., Dolone, M., 2004. The Color of Justice, Race Ethnicity, and Crime in America, 3rd Ed, Wadsworth Publishing. Scalia, J., August 2001. Federal Drug Offenders, 1999 with trends 1984-99, Bureau of Justice Statistics Special Report, U.S. Department of justice. Samaha, j., 2001. Criminal justice, 5th ed. Wadsworth publishing. Renshaw, B., December 1982. Prisoners 1925-1981, Bureau of Justice Statistics Special Report, U.S. Department of justice. Harrison, P., November 2004. Prisoners 2003, Bureau of Justice Statistics Special Report, U.S. Department of justice.
Friday, November 15, 2019
God Is The Wonderful Creator Theology Religion Essay
God Is The Wonderful Creator Theology Religion Essay God is the wonderful creator of the universe. He is all-knowing and all-seeing. Nothing escapes His notice. God is a special and intimate god who cares for and loves every single speck of creation He has created. God is the ruler of everything. He has complete and total authority over the universe. He has always existed and always will, and is so wonderful that He is best described by the word indescribable. God is good and God is just. He is holy and awe-inspiring. God is unmatched in His glory, supreme above everything. God is infinite, being all places and seeing and knowing all things at once. God is the trinity, existing in wholly and completely in three separate beings (Father, Son, and Holy Spirit) while still existing entirely as One. God is perfect. And most importantly, God is loving. He loves us and all of creation more than we can possibly know or even imagine. He loves us so much that He sent His holy and perfect Son to Earth to die on the cross so that our terrible and horrific sins could be forgiven. God is so many wonderful things that it is hard to even begin to scratch the surface of describing who God is. What is nature? Nature is the beautiful creation of God. It was created in the beginning by God out of nothing. Before God created the universe, nothing existed except Him. It was created intentionally, not randomly. God created the universe with a plan and a purpose. God created the world to be good. However, because of the Fall, it is ultimately bad. Although it displays and declares the glory of God, natures ultimate wickedness can also display how evil and corrupt the world is and how much we need His saving grace. God created nature and created man to have power over nature. God gave us this world to take care of and use wisely. God cares about creation and made it beautiful not just for the human inhabitants, but also for Himself. He loves the world He made and hates that it is corrupted by sin. What is man? Man was created in the image and likeness of God as the pinnacle of His creation. In this, each human possesses a distinct disposition, intellect, creativity, and choice and free will in all capacities. We can choose whether we follow God and accept Him as our Lord and Savior. We have the ability to choose in every other aspect of life as well. Ultimately, we can choose to follow Gods will, or ignore it and do our own thing. God leaves the choice up to us. However, we are fallen and sinful. But we are also loved-loved so much that God sent His Son to die for our sins. In this, we have the responsibility to serve God. Being Gods servant means doing good works in His name, preaching the Gospel, and bringing others to Him. And most importantly, we are to love God in return. What happens at death? When we die, we leave this world and go to Heaven, to be in the presence of God forever. Heaven is the most glorious and wonderful place ever. It is so incredible that it is impossible to even begin to imagine how wonderful it is. In Heaven, Jesus has prepared a special place for each and every one of us and is anxiously awaiting the day that we come to be with Him. If we choose not to accept God and live in sin, rejecting all He has done for us, we spend eternity in Hell. Ultimately the choice is simple: choose God, admit that you are sinner and need Him and accept Him as your Lord and Savior and spend eternity with Him in paradise, or reject Him and spend eternity in Hell. What is the basis of human knowledge? Ultimately, God is the basis of human knowledge. God has revealed knowledge to humans since the very beginning, through both general and specific revelation about Himself, and other things as well. Knowledge about God is the most valuable kind of knowledge because human knowledge is ultimately corrupted because of the Fall. God has infinite knowledge, and even when He chooses to reveal something to us it can become corrupted by sin. Human knowledge is also very limited. In reality, we know practically nothing. But what we do know comes from God, who allows us to know and discover things. God is the ultimate source of knowledge, both human and divine, and we should look to him and seek knowledge from Him. What is the basis of ethics? God is also ultimately the basis of ethics. We can learn about what is acceptable through the laws in the Bible that were set by God. In addition to this, every human being has a built-in sort of moral compass that guides us in knowing what is good and what is bad. However, we have to listen to this guide and not ignore it in order to be moral. All of these guides of morality and ethics are found in who God is and in His goodness, holiness, justness, and love. Ultimately, God is the measure of morality. I think the best thing to do when faced with a challenging moral decision, is to ask ourselves, Would what I am doing please God? And if we find ourselves answering no to this, then we should not do it anymore. It is, in some ways, a What would Jesus do? kind of question. In asking this clichà © but still important question, we can analyze if our actions are a reflection of Christ and pleasing to God. And in this, morality and ethics can be found. What is the meaning of human history? Human history is the evidence of Gods role in the world. From the very beginning, God has had plan and this is often evident in the study of human history. Everything is a part of Gods plan, and no matter what happens, God can make good happen from it. God has a specific purpose and goal for us and has things happen to us to get us to the place He wants us to be. Thing happen so that God can teach us a lesson and so that we can learn something about Him. Ultimately, human history shows us how God has taught us things in the past. We have to take what has happened in the past and learn from it, not only from our own past, but from the history of human existence as well. We can always learn something by studying history. History does not happen over and over again in a circle, but rather is unique and has an end and purpose. However, I think that some things in history can repeat if we forget the lessons God has taught us in the past. If we do not study history and learn of past events and what God taught His people through them, then He will have to reteach us the lesson, which can occur in very similar events. Ultimately history is a demonstration of Gods plan being carried out in this world.
Tuesday, November 12, 2019
Registration and Billing System Essay
1.1 BACKROUND OF THE STUDY Technology nowadays has played a major role in the success of business and helping business to become more competitive in the industry as well as in the economy. Having a broad understanding and a responsible knowledge of information technology and its role in the new economy enables the business to be successful and reach its goals effectively and efficiently. Since the use of manual system on billing is very time consuming, it is usually done and used only by extremely small establishments. This is where the introduction of computer technology integrated with manual procedures started in businesses. This system will deal with the company billings and also keeps a record of stocks. It is not only highly accurate but also saves much time and money over the long term. The main advantages of a computerized billing and accounting system is fast and accurate invoices, credit notes, purchased orders, printing statements and payroll documents are all done automatically. The accounting records are automatically updated; the data is instantly available and can be made available to different users in different locations at the same time. Computerizedà accounting programs reduce staff time doing accounts and reduce audit expenses as records are neat, up-to-date and accurate. Billing system can give the company and its clients all of the required da ta that they will need for items related to billing. The major advantage of having billing system in place is that they allow you to effectively manage customer payments. The Royal Residence Condominium is the third project of a proven and tested company, the BESTWAY Construction and Development Corporation, in the field of Real Estate Residential Development. The project was conceptualized to offer an innovative property investment opportunity and set a benchmark in making upscale residence-service provider, a lucrative business. The project was completed in a period of one year, from the ground breaking in September 2010 to receiving its Certificate of Occupancy in September 2011. The Royal Residence Condominium has been established to meet the growing need for convenient, safe and wholesome residence-provider and as a second home to qualified university and college students, board reviewees, and young professionals in the metro City of Baguio. The Royal Condominium is a 7-storey building with 4 commercial units (canteen, mini-mart and stock bar, laundry shop and salon spa) and 12 condominium residential dormitory units. Each unit consists of 12 condotel-like rooms. The Royal Condominium is located along Rimando Road, Aurora Hill- Trancoville, Baguio City. 1.2 STATEMENT OF THE PROBLEM The study aims to design a computerized registration and billing system for Royal Condominiums. The proposed system will minimize, if not, eliminate the existing problems the company encounters with regards to the registration and billing system. The minimization and or elimination of the existing problems would then make the information more effective, efficient and reliable. It will also facilitate an organized billing system for the user through the implementation of a computer ââ¬â based information system that can help in the organizationââ¬â¢s operations to become more efficient and reliable. The study aims to answer the following questions: 1.2.1 What are the hardware to be used in the billing and registration system? 1.2.2 What are the processes involved in the said system? 1.2.3 How to incorporate the billing and registration system in the existingà setup of the company 1.3 OBJECTIVES OF THE STUDY 1.3.1 To identify the hardware to be used in the billing and registration system. 1.3.2 To enumerate the processes involved in the billing and registration system. 1.3.3 To know how the billing and registration system be incorporated in the existing set-up of the company. 1.4 IMPORTANCE OF THE STUDY The researchers have conducted a study about the application of a Front Office System (FOS) with regards to Billing and Registration to Royal Dormitory and Condominium since there is no existing Information System (IS) yet. Manual transactions of more or less 200 tenants have given rise to problems in processing records. In line with this, this study of application of a FOS will provide an appropriate solution. It will give a faster recording transaction and more accurate records to improve the business process. A shift from manual transaction to an automated one will benefit both the business and the residents for both greater satisfaction and comfort. Being a student is never easy. But this study will make the researchers more patient and prepare them to the fast approaching business world. As students, it will help the researchers be knowledgeable in the operation of a business. Since they are yet to be businesswomen, it is a stepping stone to professionalism. To other researchers , this will serve as a guide and a motivation. Hardships had been a deposit but success is always priceless, indeed. 1.5 SCOPE AND DELIMITATION The research was conducted to be able to give solutions to the problems being encountered by the Royal Residence Condominium-Dormitory. Conducting such research requires a deeper understanding the problems of the business entity. The research covers the problem of the said business entity with regards to their registration and billing system. The researchers proposed an Information system ââ¬â Registration and Billing System ââ¬â which can help the entity to lessen errors when it comes to recording transactions among their tenants (College students, reviewers, transients and others) because the entity does not have an existing information system. The proposed system would then require less processes and human errors with the desired output of the entity. More or less 200 tenants occupy the said entity in which ità composes of men and women of with different age brackets. Tenants of the dormitory came from different provinces who are usually college students. The said entity is near universities and also near different business establishments which gave interest to customers to live to the Royal Dormitory and Condominiums. Before the research started, researchers scheduled interviews which were used by the researchers to create a proposed system by conducting an interview with the owner/manager which have great control over the registration and billing system of the company. With the help of the information given by the owner/manager of the entity, researchers were able to understand the main problem of their entity and be able to propose an appropriate Information System with regards to the problem. The researchers collected the needed data and information for their proposal. After gathering such information, problems being encountered by Royal Dormitory and Condominiums were determined and possible solutions were planned. However, different problems may also arise especially if the proposed system of the researches will be effective or might add more errors with regards to the records of the business entity which composes of payment of rent, electric bills, food, violations, and others. The management must make sure that the staff or employee who will control or operate the proposed Information System must have knowledge and be able to know how to handle if ever he/she encounters problem with the system. The proposed system does not cover losses and damages with regards to personal things, money, or gadgets inside the condominium. It only covers the organizing or recording different transactions which are registration of each tenant, their monthly payments of rents or violations and billings of each tenant. The researchers limited the research with these processes to be able to focus on a certain problem which the entity needs at the present. First month of using the information system may result to confusion on how it works and it might also have positive impact with the management and also with the tenants. We cannot also deny the fact that the proposed Information System may arise different problems but as much as possible avoid them. The said research will take five months to finish and be able to help the entity solve their problems and the proposed system has a useful life of 3 years. 1.6 DEFINITION OF TERMS Billing System ââ¬â It is a combination of software and hardware that receives call detail and service usage information, groups this information for specific accounts or customers, produces invoices, creates reports for management, and records (posts) payments made to customer accounts. Information System ââ¬â It consists of a collection of people, processes, data, models, technology and partly formalized language, forming a cohesive structure which serves some organizational purpose or function. Registration System ââ¬â it is a system that allows registrars to make changes to the database in real time. References: Anonymous. (2012). Management snformation systems (MIS). p 3 Billing system. (2009). Billing dictionary. Retrieved from http://www.billingdictionary.com/ Glossary. (2009 ââ¬â 2013). European Identity. Retreived from http://www.eurid.eu/en/ CHAPTER II REVIEW OF RELATED LITERATURE Online Registration System Another study is the ââ¬Å"Online Registration Systemâ⬠which was conducted by Al-Shaikh in Jordan. According to Al-Shaikh, the problem is the difficulty to register and manage the data of more than 15,000 students who are taking their exams in the universities using the conventional manual system. Using this system, it is hard to communicate between the colleges and the unit that is responsible for the examination of the students. The gathered data can be inaccurate and the fact that not all the colleges fill their studentsââ¬â¢ data properly or correctly and data storage might be susceptible to corruption at any time. In his study, the proposed system is the Online-Registration system but it is just a sub-system of Web Portal. Web Portal is defined as a system that presents information from diverse sources in a unified way. The proposed system is a 3-Tier web-based. 3-Tier Architecture is a Client/Server Architecture. In registration system, as a result, after entering the student data to the system, user can have the confirmation to assure the students was enrolled into the exam and the exam receipt to be given to the student. For the reporting subsystem, it will be easily know how many students applied for the exam and the fees required forà each student. Last is the repository subsystem where the user can download the files necessary to manage the activities. Computerized Billing for Time Improves Client Communication and Firm Profitability As cited in the article entitled ââ¬Å"Computerized Billing for Time Improves Client Communication and Firm Profitabilityâ⬠by Murphy (1996), he stated that, accounting firms can improve their profitability and relation with clients by automating client billing with computers. Accounting firms can use personal computer as an economical means of computerizing the billing process. A Computerized Billing System allows accounting firms to more effectively manage their employeeââ¬â¢s productivity and give them the means to analyse the hours available and hours billed of each employee. A Computerized Billing System provides more control over accounts receivable and client work processes. Computer in Todayââ¬â¢s World Philippines According to the article entitled, ââ¬Å"Computer In Todayââ¬â¢s World Philippinesâ⬠by Bitter (1995), stated that the function performed by the computer division of various organizations has become identified as data processing program expedite many business functions such as the accounts payable system. They keep records of vendorââ¬â¢s number, special accounts and dates of payments. There are many advantages in using an accounts payable package: all information remains in one done automatically; calculations are easily made; the time involved to do work is greatly reduced. Information to Computer and Information System According to the article entitled ââ¬Å"Information to Computer and Information Systemâ⬠by Syzmanski (1998), Computers are used in business for many tasks that can be grouped into category called data processing. Data processing includes tasks such as word processing, billing, and assembling number and facts associated with general office functions, such as order processing, inventory and billing. Billing System A research about Billing System was conducted by various students from International School of Informatics and Management in Jaipur. This study, therefore, is closely-related to our topic which is Billing and Registration System. According to their case study, there are several problems with the existing system the business uses that must be worked on and improved. Thatââ¬â¢s why they decided to make and propose some solutions for the said system. The researchers ââ¬â Anil Kumar Anjana, Bhaiya Lal Anjana, and Saurabh Jai ââ¬â figured out that time (to retrieve and store data) is a common problem with the existing system the company uses. The system also requires a lot of paper works and even a small transaction requires many papers to be filled. Thus, any fortuitous event (such as fire and such) can easily destroy all the data of the organization. A loss of even a single paper or a document can lead to a burdensome situation for the business, because all of the papers are interrelated. Another problem states that the data cannot be shared or utilized by different persons at the same time. Actual movement of the data must be done in order to make it usable by several persons at any time. To sum it all up, these problems should be solved by altering or improving its processes. Time is always of the essence, and it is very important in businesses. Just by the mere identification and analysis of the problems being showed in the existing system, it would cost the business itself MORE once these are not solved. They also conducted a feasibility study with regards to their proposed system. They considered the technical, behavioural, and economic feasibilities of the study. They identified things from software to the hardware that the system might be using once it is implemented. In terms of behavioral feasibility, they studied or evaluated the behavior of the end users of the system which may affect the systemââ¬â¢s implementation. Some people are resistant to changes. So, a good estimate should be made on how strong a reaction the user staff is likely to have towards the development of a computerized system. As the aim of the system is only to satisfy the information needs, no employees will lose their position by the proposed system. In fact, the proposed system will help the organization in reducingà the voluminous work involved. With the economic feasibility involved, the procedure is to determine the benefits/advantages and savings that are expected from the system and compare it with the costs to be generated once implemented. If the benefits outweigh costs, such as manpower and hardware and software costs, then it is said to be that the system is approved and ready to be designed and implemented. But, if otherwise happens, wherein costs are greater that the benefits, further alterations should be made in order to make the proposed system a better one. Design and Implementation of Accounting Models for Services in Agent-Based Information Systems According to Rupert Rockinger and Hubert Baumeister, the fast growing field of electronic commerce brings todayââ¬â¢s applications to their limits. Information systems are now being used to further automate the processes. A fully automated process can also help busy users who want to spend as little time as possible with a single transaction. A system capable of accounting can return the needed product without requiring any further attention by the user. In the study of Rockinger and Baumeister the design and implementation of the basic agent framework billing system (BABSy) is described. It includes an overview about payment models in everyday life, parts of the system that are already being used today, and where BABSy takes its place in this context, and describes the architecture of BABSy and its implementation using the FollowMe framework. The term ââ¬â¢serviceââ¬â¢ is used in the study instead of merchandise since in the electronic world goods are often virtual. Buying information for example can be considered the service of supplying this data. With all the benefits of agent technology in mind, one would expect that there are many solutions available for accounting in commercial agent frameworks. This, however, is not the case at this time. Mostly this is due to the fact that agents cover only a certain aspect of the behavior model. To identify the participating agents letââ¬â¢s take a look at a conventional transaction. Say, for example, you buy a meal at your favorite restaurant. Two parties are obvious: you, the paying customer, and the selling restaurant owner. The third party in the interaction is a banking service that provides the guarantee for the payment used. When paying cash this is the central bank of a country that guarantees the value of your bank notes; for credit card payment this is the cred it card company; and when paying by check this will be bank that issued the check. Either wayà there is always a third party involved that both others must recognize and trust. So within the agent framework three independent components are needed. One for the provider, one for the customer and a third that represents a banking service. In this paper the design of the accounting system BABSy for services in an agent community was presented. This can greatly improve the value of electronic commerce applications in the future.The design of the BABSy core components covers the most important payment models while still leaving room for further functionality. Most components can be extended for much greater complexity if desired. Online Bill Payment 2.0 Digital financial transactions have caused the increase in consumer convenience and its ease of use that was evidenced by a Consumer Trends Survey conducted by Fisherv Inc. in 2011. Despite the former, e-billing and e-statement users reduced bad debt by 50 percent and at the same time has reduced the reconciliation costs by 40 percent. Electronic billing also has reduced the use of paper, meaning no postage and no wastes. Another upgrade in the digital financial transactions is the personalization of online payment. In one study, payments increased more than 350 percent payments were made with personalized tools compared to other Web-based payment systems (source: confidential client data). According to Mark Snow, the main reason why personalized online billing is more effective than that of the others is the intrigue it creates in the minds of the users. The moment they see that personalized link to access their own website, curiosity kicks in and they want to see more. The ease of access and the convenience that regular online billing providers are doubled by the personalization of the existing systems by directly integrating the billing and payment system to the providerââ¬â¢s account that increases efficiency and reduces the time is called the consuming manual payment processing. He also cited in the article the steps taken in the personalized online payment which starts by sending a personal notification that directly goes to the patient via letter or email. In that letter, there would be an existing link and password that would lead them to the patientââ¬â¢s personal website where the existing personal information and the services the patient has undergone. In the said link, the patient can already pay their bills via credit card, debit card,à or ACH on their account and can even update their personal information. And with just one click of a button, their payment is processed, confirmation of payment is sent to both the provider and th e patient, and the money is already deposited into the providerââ¬â¢s account. References: Al-Shaikh, A. M. (n.d.) Online registration system. Retreive from www.cscjournals.org Anjana, A.K., Anjana, B. L., & Jain, S. (n.d.) Billing system. International school of informatics and management. Jaipur. Snow, M. (2012). Online bill payment 2.0. Health Management Technology, 33(10), 18-19. Bitter, Gary G. (1995). Computer in Todayââ¬â¢s World Philippine. The McMillan Com. Smith, Murphy L. (1996). Computerized billing for time improves client communication and firm profitability. (Management of an accounting practice) the CPA journal Syzmanski, Robert A. (1998). Introduction to computer and information systems. merrill publishing co. R. Rockinger. (1999). Design and implementation of accounting models for services in agent-based information systems. Masterââ¬â¢s thesis. Institut fà ¨ur Informatik. Università ¨at Mà ¨unchen, Mà ¨unchen. Germany. CHAPTER III METHODOLOGY 3.1 RESEARCH METHODOLOGY Quantitative research methodology was used for this study. Quantitative research is a formal, objective, and systematic process. In situations where little is known, like in the case of Royal Residence Condominium-Dormitory, quantitative method was used in conducting the interviews, to focus groups, and others. Data based on the interview were used by the researchers to find out problems of the existing system used by the said company. Once the problem has been identified by the researchers, then, the quantitative approach will be used to measure to what extent this problem may have to the company and its customers. The said method also aims to answer questions with regards to the ââ¬Å"how manyâ⬠, and ââ¬Å"how muchâ⬠of a problem. 3.2 RESEARCH TOOLS Interview The researchers interviewed the marketing officer from the accounting officeà of the Royal Residence Condominium-Dormitory. Researchers asked for the information about the company and the existing system the company is currently using and other relevant information that are useful to the study. The actual interview was recorded by the researchers. Observation It has been observed that the administration keeps a lot of paper files. In addition, manual transaction is very evident. These caused problems, and in effect, the researchers proposed the Registration and Billing System. Journals The researchers used some published journals and other related research papers for reference and for comparability purposes. 3.3 EXISTING SYSTEM Currently, the Royal Residence is utilizing the Microsoft Excel as its system. This software is a spread sheet application developed by Microsoft for Microsoft Windows and Mac OS X. It features calculation, graphing tools, pivot tables, and a macro programming language. Using excel, the company is able to keep a record of its tenants. One unit has its own excel file where every tenant has his/her own worksheet where his/her amount due can be found. In that worksheet, the utilities payable of the tenant and even the other payables like penalties/ interest are already computed just by entering the formula. Since the system can perform the calculation, the company can determine the total amount due of each tenant by using the functions of excel. In this system, the company still performs the manual input. 3.4 PROBLEMS ENCOUNTERED WITH THE EXISTING SYSTEM During the interview session with Miss Maria Vilma T. Lerpido, Marketing Officer from the Accounting Management of The Royal Residence Condominium-Dormitory, we asked her if they have been facing some problems with the registration and billing system they are using in the business. And as evidenced by the interview we conducted and through our observation, we have figured out some complications with the system. As for the royal residence condominium-dormitory, time is one of the problems they are encountering with their system. We could say that it isà time-consuming because manual input of data is being practiced. In addition to this, we, the researchers, have noticed that the records of the tenants in each unit in their condominium-dormitory are being individually filed in excel. Each excel file contains the records of the each tenant in different worksheets. One file is equivalent to one unit, with several rooms, in the condominium-dormitory wherein it contains its corresponding tenantsââ¬â¢ records. The file consists of the tenantsââ¬â¢ payment dues ââ¬â from the monthly rental up to the electric and water bills a tenant has incurred. Computation of the penalty dues and other expenses by the tenant is being performed by the Microsoft Excel itself. Thus, once an authorized personnel looks for a tenantââ¬â¢s records, it would take time for him searching the name from the list of the documents saved in the computer. So, what if all of the tenants ââ¬â more or less 200 ââ¬â would pay their dues at the same time, would the staff do the computations that fast and easy considering that s/he will be accommodating numbers of customers in just a short period of time? The system must be developed to improve its performance, less cost, less pressure, and with that, the personnel can just simply look for the records with the already-computed charges, then, it can already be printed as a physical evidence of the tenantââ¬â¢s accounts. CHAPTER IV RESULTS AND FINDINGS 4.1 PROPOSED SYSTEM One of the advantages of the system is that, it is time saving. It is created in order to save time creating and sending invoices. It has low mistake risks, secured from typographical errors, miscalculations, and erroneous invoicing to the customer. Another is it provides a lot of different features. You can adapt billing program to yourself considering specifics of your business. For example you can define when, to whom, and how often you want to send recurring invoices. It is a cost effective way to protect a record through a centralized application process. Renewal and subsequent changes concerning ownership details can also be handled using this centralized process. And registration ensures a single, consistent approach to monitoring quality service. It gives confidence that all tenants have achieved the same essential levels of safety. For the disadvantages of theà system, Registration and Billing System would be costly. A small business may not afford this. If in case it can purchase, return of investment would take longer. Purchasing this system is a costly investment. Sometimes, the money paid could be used to other greater income generating investments, with higher assurance of return. When the system is implemented, there will be a reduction of labor force. There will be less job opportunities for human resource. And in some instances, the labor force would be too dependent with the system, and considering that the system is not 100 % guaranteed free from error. When the labor force doesnââ¬â¢t personally check the entered information, an overstatement or understatement of accounts may happen. Though, this is one-in-a-million case, the system still possesses accuracy. The system still follows the input data. Once they are mistakenly done, the system will also provide an incorrect output. For example, when the tenant/administration entered a wrong tenant number for a specific payment, then the system will follow what was entered. It cannot detect such an error. The system is restricted to cash payment only. Credit cards and bank transactions are not involved. 4.2 DATA FLOW DIAGRAM 4.2.1 CONTEXT DIAGRAM Registration and Billing System consists three entities ââ¬â tenant, administration, and accounting. In this system, it starts with the tenant entity wherein it gives details that are needed by other entities. Once the tenant gives those details, the system will work on it in order to produce outputs from the entities in the said system. 4.2.2 DIAGRAM 0 Diagram 0 is a confounded version of the context diagram that shows the major processes done in the system. The start of these processes is to classify the old and new tenants. If tenants are new, a new profile is created, saved in a data store, and the tenant details are used by the system to proceed toà the next processes ââ¬â create statement, apply payment, and lastly, create reports needed by the administration and accounting entities. On the other hand, once old tenants are sorted, processes would already follow (same with the preceding processes with a new tenant) 4.2.3.1 DIAGRAM 1 PROCESS 3 Process 3 of Diagram 1 revealed three further internal processes ââ¬â find tenant records (3.1), classify dues (3.2), and compute payment due (3.3). The processes are related to payments ââ¬â past dues, city services, and rent payments. They have to produce statement of accounts to tenants and invoice details to accounting entity, and the cycle continues. 4.2.3.2 DIAGRAM 1 PROCESS 4 Process 4 of Diagram 1 revealed three further processes ââ¬â record payment (4.1), create cash receipts (4.2), and update account (4.3). They produced and updated accounts to the involved entities, tenant and accounting, respectively. 4.3 DATA DICTIONARY ENTITY TENANT Name: Tenant Description: One that pays rent to use or occupy land, a building, or other property owned by another. Input Data Flow: Statement of account, Cash receipts, Tenant code Output Data Flow: Personal details, Payment details ADMINISTRATON Name: Administration Description: A body of persons who manage. Input Data Flow: Tenant Profile, Report Details Output Data Flow: Tenant Number ACCOUNTING Name: Accounting Description: The system of recording and summarizing business and financial transaction and analyzing, verifying, and reporting the results. Input Data Flow: Invoice Details, Tenant Accounts, Updated Accounts Output Data Flow: Financial Statement CHAPTER V SUMMARY, RECOMMENDATION, AND CONCLUSION 5.1 SUMMARY This project involves information system specifically, registration and billing system. The goal is to make the registration and billing of Royal Residence Condominium-Dormitory easier and more accurate. This has been done by improving their existing system through automation of the said activities. Before, their registration and billing system is manually-operated and it is time-consuming. The research covers the problem of the said business entity with regards to their registration and billingà system which can help the entity to lessen errors when it comes to recording transactions among their tenants (College students, reviewers, transients and others) because the entity does not have an existing information system. The proposed system would then require less processes and human errors with the desired output of the entity. 5.3 RECOMMENDATION Registration and Billing System is effective. However, some recommendations are advised. The researchers recommend further study of the system. It is believed that longer period of research would provide more information that would let users maximize the ability of the system. It is also recommended that the visual presentation of the system be improved. For validity purposes, a good visual presentation would let the users input the correct data. This will reduce human error. The system covers only the registration of the tenants themselves. Registration of all belongings, particularly those gadgets and appliances, is therefore recommended for safety purposes. In addition, the system is limited to cash payment only. As a result, the researchers recommend that credit and bank transactions be included. The researchers also recommend making an assessment of the tenantââ¬â¢s point of view about the system. It is important to acknowledge this since Royal Residence exists because of the m. 5.3 CONCLUSION This study aimed at improving the existing system of Royal. The results of this study indicated both positive results and negative results. It can be concluded that the findings were consistent with their results. Furthermore, this study found that the registration and billing system helped the administration and accounting department for the safe keeping of their documents. In addition, the study also revealed some obstacles that the entity had to face when they applied the system. These obstacles may be summarized as costly, labor force will be lessened and it is not free from human error. However, in the long run, the system is more preferred. This is supported by the earlier findings. To sum it up, elimination of manual transactions benefited the company. The proposed system made transactions faster and more accurate. It is far more advantageous when compared to manual transaction and the existing system by the business-Excel. Thus, introduction of Registration and Billings Syste m is effective and yield the expected positive results.
Sunday, November 10, 2019
A Strategic Framework for Customer Relationship Management
A Strategic Framework for Customer Relationship Management Introduction: This article explores the plethora of literature available on CRM and relationship marketing and emphasizes the need for a single, process-based framework that helps in making a comprehensive CRM strategy followed by its successful implementation. The objective is to highlight CRMââ¬â¢s role in enhancing customer value and, in turn the shareholder value.Various CRM and marketing experts, who provide their views in the article, emphasize the need for a cross-functional, process-oriented approach which identifies three alternative perspectives of CRM within a holistic organizational context. They try to identify five key cross-functional CRM processes starting from a strategy development process, followed by value creation process, multichannel integration process, an information management process, and in the end performance assessment process.Based on these 5 pillars, they put forward a new conceptual framewo rk specifying the roles and functions associated with each element in the framework. Summary: CRM is a strategic approach that is concerned with creating improved shareholder value through the development of appropriate relationships with key customers and customer segments. There is a need to develop relationship marketing strategies and IT architecture to create profitable, long-term relationships with customers and other key stakeholders.The article is organized mainly in three parts. Firstly, it explores the three alternative perspectives of CRM. Secondly, it considers the need for a cross-functional process-based approach to CRM where the strategists develop criteria for process selection and identify the five key CRM processes. Next, they propose a strategic conceptual framework that is constructed of these five processes followed by the examination of the components of each process. Hence, CRM can be defined with three perspectives forming a continuum.At one corner is the nar rowly and tactically defined particular technology solution, followed by wide-ranging technology (customer oriented IT and Internet), and customer centric approach (holistic approach emphasizing creation of shareholder value) as we move towards right at the other end of the continuum. Processes are the backbone of any initiative or a framework. Absence of a strategic framework for CRM is one reason for the disappointing results associated with many CRM initiatives.The strategic perspective starts with reviewing the following four process selection criteria for marketing and business processes which are now augmented by 2 new additional suggestions. 1)The processes should comprise a small set that addresses tasks critical to the achievement of an organizationââ¬â¢s goals. 2)Each process should contribute to the value creation process. 3) Each process should be at a strategic or macro level. 4)The processes need to manifest clear interrelationships. 5) New: Each process should be c ross functional in nature. 6)New.Each process would be considered by experienced practitioners as being both logical. The refining of CRM strategy can start with the interaction research as interaction and communication play a crucial role in the various stages of research. It consists of interaction with various executives, meetings and group discussion with emphasis on testing concepts, new ideas, and results. On the other hand, the process identification and CRM framework creation begins with identification of generic CRM processes which are used by an expert panel of experienced CRM executives.The resultant five generic processes are: the strategy development process, the value creation process, the multichannel integration process, the information management process, and finally the performance assessment process. These five key generic CRM processes help form a preliminary conceptual framework which is continuously improved for better business results and increased share value . Next are the business/customer strategy and the value creation processes.The business strategy process can commence with a review of a companyââ¬â¢s vision and its relation to the CRM model. It is followed by the review of the industrial and competitive environment. Here the traditional industry analysis is augmented by more contemporary approaches for deeper environmental analysis and the understanding the impact of disruptive technologies. Customer strategy on the other hand, deals with CRM perspective which requires a cross functional approach, especially when different departments are involved in strategy development.Other important facets are information management process and performance assessment. Information management is concerned with the collection, integration and use of customer data and information from all processes. It involves managing assets like the data repository, IT systems and analysis tools. Data repository provides a corporate memory of all customers. Systems include the organizationââ¬â¢s computer hardware, software, middleware IT, front office and back office applications like SFA and call center management.Lastly, analysis tools support many activities involved in interfacing directly with customers with technologies like data mining. The article also talks about Multichannel Integration process, which takes into account the combinations of different channels with customer interaction perspective. It takes the outputs of the business strategy and value creation processes and translates them into value-adding activities with customers. It ensures that the customer experiences remains highly positive within those channels. Analysis:Even though, there has been enough emphasis on the cross-functional, process-based CRM strategy framework that aims to help companies, it is mostly based on large industrial companies and not the small and medium sized companies. I agree with the views that the size and complexity of such enterpris es are most likely to post big CRM challenges, but small scale initiatives should be considered as well. I concur with objective of the article which deals with a process-based conceptual framework and cross functional approach for strategic CRM model.Also, I agree with argument which has been put forward again and again in the article for the need of an acceptable definition that encompasses all facets. The framework proposed in the article is just a beginnerââ¬â¢s model, yet a potentially useful starting point for the development of improved insight into these aspects of CRM theory. But according to me, because of the changing scenarios and fickle nature of market there is still a need for delimiting the domain, agreeing on a definition for CRM, and building a research agenda. I would like to add that certainly there is a need for measure and control the CRM performance.But, at the same time traditional approach for performance measurement systems will not be suitable for cross functional CRM. There have been new initiatives like balanced scorecard which enables a wide range of metrics designs. It consists of shareholder results and performance monitoring. Ideally, it should reflect the performance standards necessary across the five major processes to ensure that CRM activities are planned and practiced effectively and that a feedback loop exists to maximize performance improvement and organizational learning.The article also explores the multiple channels, such as field sales forces, Internet, direct mail, telephony, traditional television, e-commerce and m-commerce, including e-mail to interact with its customers. For example, making use of e-commerce opportunities and the fundamental economic characteristics of the Internet can enable a much deeper level of segmentation granularity than is affordable in most other channels. With the advent of Internet, interactive digital television, mobile telephony and text messaging, wireless application protocol, and 3G mobile services can be utilized in this field.The challenge lies in the ability of strategy to uphold the same high standards across different channels enhancing customer experiences. As far as associated value goes, I believe that outputs of the strategy development process leads to programs that both extract and deliver value and maximizes the lifetime value of desirable customer segments. It includes determining what value the company can provide to its customer along with what value the company can receives from its customers.These value propositions include the relationship among the performance of the product, the fulfillment of the customerââ¬â¢s needs, and the total cost to the customer over the customer relationship life cycle. Like any other initiative, measurement is an integral part through the use of the metrics. The performance assessment sees that the organizationââ¬â¢s strategic aims in terms of CRM are in alignment with the acceptable standard and that a basis for future improvement is established. Conclusion:Often, the organizations are plagued by the lack of a widely accepted and appropriate definition of CRM along with the failure to recognize its constitution. This can lead to the failure of a CRM project as this way the organization views CRM from a limited technology perspective or undertakes CRM on a fragmented basis. The plethora of information requires a cross-functional integration of processes, people, operations, and marketing capabilities that is enabled through information, technology and applications.The options provided in the article explore the opportunities like cross-selling and up-selling to acquire or strengthen customer database. To ensure that technology solutions support CRM, it is important to conduct IT planning from the perspective of providing a seamless customer service rather than planning for functional or product-centered departments and activities. On the organizationââ¬â¢s front, the focus is on increasing customer lifetime value by determining the variation in potential customer profitability across different customer segments along with the prepositions like customer acquisition and customer retention.
Friday, November 8, 2019
Internet Trespass
Internet Trespass A letter to my sister regarding her website ideaHi Sis,I think that you may have quite a good idea about an amalgamation site for online dating. It would probably be a good money making site for you if you do it properly. Though I think you should look at what happened to a company called Bidder's Edge. Here is a little information that I researched for you to consider.Bidder's Edge was a site that had been created to search many online auction sites and compare the prices of similar items sought by its members. E-Bay however did not like what the company was doing and E-Bay sought to prevent Bidder's Edge from crawling its site, claiming that Bidder's Edge was going onto its site 100,000 times a day, thereby placing a burden on its systems. This was not the activity that a typical user could ever generate.Personal Property (film)Rather than claim intellectual property infringement, E-Bay alleged that by searching items listed for sale Bidder's Edge was trespassing on its site. Bidde r's Edge was not trespassing in the sense of causing damage just by their undesired presence; they were actually doing damage by accessing E-Bay so much that they accounted for a significant percentage of E-Bay's bandwidth. It had nothing to do with linking and everything to do with what amounted to a small-scale Denial of Service bandwidth plus computing resources attack.The court found that Bidder's Edge had interfered with and "damaged" E-Bay's site - and therefore its place of business. (Wolverton, 2000) Bidder's Edge was forced to cease gaining information about E-Bay's site in that manner, but it was free to pursue another other approaches not directly prohibited in the trial. In other words, the government has supported the view that databases are...
Wednesday, November 6, 2019
Capital Budgeting Essay Example
Capital Budgeting Essay Example Capital Budgeting Essay Capital Budgeting Essay Corporate Finance Capital Budgeting Course Outline CAPITAL BUDGETING Course outline Key Principles in Capital Budgeting: Criteria for Investment Projects Net Pesent Value Internal Rate of Return Payback Profitability Index Finding Cash Flows Maria Ruiz 1 Financial Management Financial management is largely concerned with financing, dividend and investment decisions of the firm with some overall goal in mind. Corporate finance theory has developed around the goal of shareholder wealth maximization. Financing decisions deal with the firmââ¬â¢s optimal capital structure in terms of debt and equity. Dividend decisions relate to the form in which returns generated by the firm are passed on to equity-holders. Investment decisions deal with the way funds raised in financial markets are employed in productive activities to achieve the firmââ¬â¢s overall goal. Capital budgeting is primarily concerned with sizable investments in long-term assets. These assets may be tangible (property, plant or equipment) or intangible ones such as new technology, patents or trademarks. They are generally long-lived projects with their benefits or cash flows spreading over many years. As such, capital budgeting decisions have a major effect on the value of the firm and its shareholder wealth. Maria Ruiz Capital Budgeting Capital Budgeting: An Introduction Capital budgeting: one of the most important functions a financial manager must perform, required by the strategic planning and expansion of operations by allocating financial resources for the acquisitions of physical resources that will produce incremental future cash-flow and create value for shareholders: Corporate investment projects: Replacement decisions o maintain the business made without detailed analysis for cost reduction or efficiency purposes ââ¬â fairly detailed analysis Expansion of existing products or markets ââ¬â complex decision process that require an explicit forecast of future demand, detailed analysis Expansion into new products or markets similar detailed analysis Regulatory, safety and/or environmental projects ââ¬â mandatory investments for many industries, and often accom pany new revenue producing projects The same ideas also apply to personal investment decisions (for example buying a car vs. leasing it, renting an apartment vs. uying one). Maria Ruiz 2 Capital Budgeting Key Principles Rule 1 : Cash flows after taxes, not net income, is the proper basis for analysis Only the incremental cash flows should form part of an investment decision Sunk Costs should not be included in the analysis Only incremental Cash Flows are analyzed: externalities should be included (i. e. cannibalization) Rule 2 : Cash Flow are based on Opportunity costs Rule 3 : Timing of cash flows is critical Rule 4 : Cash Flows are analyzed on an after-tax basis Rule 5: Financing costs are already reflected in the projects required rate f return Maria Ruiz Key concepts Sunk costs: Cost that has already been incurred RD expenses are $10,000 to-date for your project, and you plan to spend another $20,000, making $30,000 in all. What are cash flows for the project? Opportunity cost: what a resource is worth in its next-best use A company uses idle property, what should it use as the investment outlay? (pruchase price, current market value, nothing ? ) Incremental cash flows: difference between projected cash flows with and without the project Maria Ruiz 3 Key concepts Externality: effect of an investment on other things besides the investment itself Ilustration of Cannibalism: A proposed project will generate $10,000 in revenue, but will causes another product line to lose $3,000 in revenues. How much cash flow should the company consider? Conventional vs. Non conventional cash flows: Conventional: initial outflow followed by a series of inflows Non conventional: different Maria Ruiz Illustration: Underutilized Resources A project uses an existing (non-cancelable) leased warehouse with a remaining life of 20 years, and total annual rent of $100,000 The warehouse is rojected to remain 50% utilized, unless your project is undertaken The lease prohibits sub-leasing The current project is making a loss Your project will use 25% of the warehouse What should the project be charged? Maria Ruiz 4 Illustration: Underutilized Resources SEVERAL POSSIBLE SOLUTIONS: Choose one 1. The original project currently using the warehouse is making a loss: ââ¬Å"Charg e the full $100,000 /year so the company can recover the very real warehousing costs. â⬠2. Half the warehouse is available: The project should be charged the full $50,000 /year if it needs to use it. A portion of the warehousing costs will not be charged-out otherwise. â⬠3. 4. The project is going to use only 25% of the space. ââ¬Å"Charge $25,000 /year. â⬠The charge should be proportioned according to revenues generated by each project: ââ¬Å"The old projectââ¬â¢s revenues = $9,000,000, and the new project has projected revenues = $1,000,000, so the charge is 10%, or $10,000/year. â⬠5. 6. This is a new project, so give it a sporting chance: The project should be charged nothing. â⬠The original lease was entered into when warehouse space was cheap, but now space is twice what it was: ââ¬Å"The market value of the leased warehouse is now $200,000, and the project should take its proper share of that amount. â⬠Maria Ruiz Capital Budgeting Classification of projects Independent versus Mutually Exclusive Projects: An independent project is one the acceptance or rejection of which does not directly eliminate other projects from consideration or affe ct the likelihood of their selection. Two or more projects that cannot be pursued simultaneously, the acceptance of one prevents the acceptance of the alternative proposal, are mutually exclusive they involve ââ¬Ëeither-orââ¬â¢ decisions Mutually exclusive projects can be evaluated separately to select the one which yields the highest net present value to the firm. A contingent project is one the acceptance or rejection of which is dependent on the decision to accept or reject one or more other projects. Contingent projects may be complementary or substitutes Maria Ruiz 5 Capital Budgeting Project Sequencing The sequencing of projects is a strategic issue, it creates options on one or more projects as the direct result of undertaking another (previous) project. Old Suppose a firm is evaluating projects to produce a number of consumer products It may be advantageous to implement projects sequentially rather than in parallel. If taken in parallel, management would spend the resources and the value of the option not to spend in case of failure is lost. Extreme case example is RD: The source of value is the options created to undertake other projects. Interproject options are created whenever management makes an investment that places the firm in a position to use new technology to enter a different industry Maria Ruiz Choosing between Investment Projects Investment decision criteria Net Present Value Internal Rate of Return Payback Normal Discounted Profitability Index Maria Ruiz 6 Capital Budgeting The Net Present Value (NPV) NPV : difference between the initial investment and the sum of the present values of cash flows that are generated: NPV0 = ? I 0 + ? t =1 T CFt (1 + r ) t If the project involves investment in installments spread over N years, then the NPV is: NPV0 = ? t =0 N T ? It CFt +? t t (1 + r ) t =1 (1 + r ) A projectââ¬â¢s NPV signifies the increase in wealth to stockholders, if the project is undertaken. We apply the DCF model to corporate decision making and we use the Net Present Value (NPV) Rule to evaluate projects and decide which one we should adopt. Maria Ruiz Capital Budgeting Examples NPV Rule 1: Accept the project if its NPV gt; 0 It indicates that only projects that increase the ownersââ¬â¢ wealth should be undertaken, ie a project is accepted only if its PV gt; Cost Similarly, a stock or bond is purchased if its PV is greater than its market price (its ââ¬Å"costâ⬠) Example: A wind-power plant will cost â⠬ 50 million to build. The plant will generate annual cash flows of 16 per year for 4 years, plus another 20 millions the fith year. The 6th year, the plant will be scrapped at a cost of 2 millions. What is the NPV of the project if the opportunity cost of capital is 10%? What if the opportunity cost of capital is 20%? Maria Ruiz 7 Capital Budgeting Examples NPV Rule 2: If the projects are not mutually exclusive, all projects for which NPV gt; 0 should be undertaken. If the projects are mutually exclusive, then the project with the highest NPV should be chosen. Example: You are considering buying a network server with a useful life of three years. Two alternatives exist. Model A costs â⠬ 250,000 and will lead to a productivity improvement of â⠬ 110,000 per year for 3 years. Model B costs â⠬ 200,000 and will generate a productivity gain of â⠬ 85,000 for 4 years. Which model would you choose if the cost of capital is 8% for this project? Maria Ruiz Capital Budgeting NPV Profile The NPV profile is convex in a simple relationship between NPV and IRR There are other profiles Maria Ruiz 8 Capital Budgeting Internal Rate of Return (IRR) Internal Rate of Return (IRR) : is the discount rate that equates the NPV of the investment project to zero. In other words, IRR is the solution to the following equation ? T CFt ? (1 + IRR) t ? t =1 ? ? ? I0 = 0 ? ? Decision rule Go ahead with the project if IRR is higher than the (explicit) opportunity cost of capital (i. . , the return on an alternative investment, possibly a financial asset, with the same amount risk) or the implicit WACC. When there are multiple investment projects, you should choose the project with the highest IRR. However, other than the particular case of a positive outcome one period after initial investment, there are important caveats regarding the IRR criterion that you should be awar e of. Maria Ruiz Internal Rate of Return 2500 2000 1500 NPV (,000s) 1000 500 0 IRR -1000 -1500 -2000 Discount rate (%) Maria Ruiz 10 0 -500 40 10 20 30 50 60 70 80 90 9 Capital Budgeting Internal Rate of Return (IRR) Decision rule If IRR gt; discount rate, go ahead with the project Example: A wind-power plant will cost â⠬ 50 million to build. The plant will generate annual cash flows of 16 per year for 4 years, plus another 20 millions the fith year. The 6th year, the plant will be scrapped at a cost of 2 millions. If the cost of capital is 10%, would you go ahead with the project? Maria Ruiz NPV and IRR (CFA 2009) Maria Ruiz 10 Capital Budgeting Ranking Conflicts between NPV and IRR IRR and NPV criteria may not lead to the same conclusion in the case of mutually exclusive projects. NPV rule easily chooses among mutually exclusive projects, IRR does not. lliustration: Which of the following mutually exclusive projects should you choose? Year Project A 0 1 ââ¬â500 590 2 0 3 0 Year 0 1 2 3_ Project B ââ¬â500 50 50 620 (see graph next page) Maria Ruiz Capital Budgeting Ranking Conflicts between NPV and IRR Different Cash Flow patterns may lead to a conflict of ranking Pitfalls of IRR Difficulty in Evaluating Mutually Exclusive Projects 250 200 150 100 NPV 50 0 -50 -100 -150 -200 Rate of Return Project A Maria Ruiz 0% 5% 10% 15% 20% 25% 30% Project B 11 Capital Budgeting Ranking Conflicts between NPV and IRR IRR and NPV criteria may not lead to the same conclusion in the case of mutually exclusive projects. NPV rule easily chooses among mutually exclusive projects, IRR does not. lliustration: Which of the following mutually exclusive projects should you choose? Year Project A 0 1 ââ¬â500 590 2 0 3 0 Year 0 1 2 3_ Project B ââ¬â500 50 50 620 Choose A Choose B A neither IRR Criterion IRRA=18% gt; IRRB=14% NPV Criterion if OCC lt; 12% then: NPVA lt; NPVB if 12% lt; OCC lt; 18% then: NPVA gt; NPVB if OCC gt; 18% then: NPVB lt; NPVA
Sunday, November 3, 2019
Assess what are the barriers for Project Management Organisations Essay
Assess what are the barriers for Project Management Organisations operating outside their current sector - Essay Example project manager should be able to apply the same skills for managing an IT project, but there seems little evidence that project management organisations are exploring other industries to become market leaders. To find out how a project is run and works project success must be looked at in totality to determine what are the success factors that these project management organisations want to achieve overall, ââ¬Ëa successful projectââ¬â¢. Project must be run successfully and how this success is brought about must also be researched to determine if project managers can manage projects in other sectors successfully. It can often be easy to ask the question ââ¬Ëwhy donââ¬â¢t project management organisations branch out into other sectorsââ¬â¢ but the risk associated with the move must also be researched. It may be possible that the risk outweighs the benefits in some circumstances. In principle the success of a project should be determined by the satisfaction of the end use, often the project owners. This argument is fundamental to this paperââ¬â¢s discussion. The issue of whether a manager is able to successfully move across sectors will impact their performance on each project. The converse of this argument is that those that have spent the majority of their professional career focusing on a sector will be able to offer a deeper and more specialised array of skills that will prove invaluable to the project owners. These concepts will be the foundation of the discussion of results later in the paper. An expansion on these arguments is considered when looking into the risk associated to companies for employing individuals with various backgrounds. One consideration is that companies that employ such people will be able to react much better to fluctuation of market sector economic strengths. For example the rise and fall of technological companies in the mid 1990ââ¬â¢s would have seen the increase of technological projects giving rise to profits and growth of project management
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