Essay --

Income variety continues to growing in todays world, especially in the United States. Income in checkity means the unequal distribution between individuals assets, wealth, or income. In the Twilight of the Elites, Christopher Hayes, a liberal journalist, states the inequality gap between the sizeable and the poor are increasing widening, and there need to have things done - measure the rich, provide better education - in order to shortening the inequality gap. America is a meritocratic country, which means that everybody has equal opportunity to be successful regardless of their class privileges or wealth. However, equality of opportunity does not equal equality of outcomes. People are having more opportunities to find a better job, but their incomes are a lot less compared to the top ten pct rich people. In this way, the poor people volition never climb up the ladder to high status and become millionaires. Therefore, the government needs to increase all the taxation rates on r ich people in order to reduce income inequality. 1. Tax Cuts Caused Income InequalityIncome inequality is a big line in the United States because the top, wealthiest American saw huge increases in their incomes, which the rest had their incomes go down. Bottom people do not have the same measuring rod of money and the opportunity to move up the social ladder as the rich people do. In order to reduce income inequality, the government needs to tax the rich people more, and give poor people more money and more social services - education, food subsidies, health care. Tax cuts are and benefiting the richest people, and will widen the inequality gap between the rich and the poor. A recent report from the Congressional Research Service states, as the top tax rates a... ...ot let this inequality gap continues to rise therefore, the government needs to tax heavily onto the rich people, and redistribute their money to the poor. If income inequality continues to grow, the economy will bre ak down. For example, if the housing price continues to rise because of the rich people, poor people will not have a place to live since they cannot afford to bribe these expensive houses. When this happens, it will create another housing bubble because the houses are not worth buying, which means the market value of the house exceeds the houses value therefore, nobody will buy the house including the riches since they already have houses to live. Moreover, poor people do not believe they can call for access to wealth because they cannot afford anything, and they cannot afford the tuition fees for a good education, which is the traditional route to success.

The Innumerable Benefits to Home Schooling Essay -- Home-School Educat

The Innumerable Benefits to Home SchoolingIn his book The Right Choice Home Schooling, Chris Klicka argues that Sending our children to the prevalent school is equivalent to sending our children to be trained by the enemy (Crank 25). Though his words may be considered harsh by some parents, many Americans agree with him and smack that creation school is only endangering their children hearthstone schooling is the modern day alternative that many mothers and fathers have chosen to turn to. Those who feel that the world of the public school is detrimental to their childrens growth and health are not alone they share the beliefs of many parents who feel that home schooling has many benefits and advantages that public schools cannot offer to students today. Among complaints about public schools is that they are anti-religion. Advocates for home schooling say that children cannot be brought up in a religious atmosphere at home and then be sent to school where it is challenged or ridiculed. This would be very difficult for a child, especially because it can be difficult for adults at times. creator President of Yale University, Timothy Dwight, even stated, to commit our children to the care of irreligious persons is to commit lambs to the superintendency of wolves (Crank).There are two primary ways in which schools are classified as anti-religion. Schools may directly attack a religion by supplying its students with books of history and literature. In historical references, there is little about the authoritative effects of religion and in literature, it can be attacked very subtly, while other books convey its evil side. Schools are often also considered anti-religious is because they can all in all ignore religion, which ... ...m/campaign/815/c3teachers.htmlChristian Home Educators of Florida. (2003). Retrieved November 19, 2003. fromhttp//www.christianhomeeducatorsofflorida.com/faq.htmCrank, D. (2002, Dec. ). Why are you home schooling?. Unless The Lord ... Magazine. Retrieved Nov. 23, 2003, from http//www.unlessthelordmagazine.com/articles/Why%20Homescho oling.htmCurry, Lorraine. (1997). Homeschool World Combining Work and Homeschool. Retrieved November 23, 2003. from http//www.home-school.com/Articles/phs18-lorrianecurry.htmlDonaldson, K. Pros. Retrieved Nov. 19, 2003, from Bowling gullible State University http//www.bgsu.edu/colleges/edhd/LPS/EDFI/SampleWebs/Fall02/26/pros.htmLechtreck, Roy. (1994, January). The Case for Homeschooling. Retrieved November 19, 2003 www.libertyhaven.com/politicsandcurrentevents/educationhomeschoolingorchildren/casehomescho.shtml

Reforming Australian Legal Education to match Canadian Essay -- Austra

Legal Education in AustraliaOn January 25, 2005 one of Canadas most respected legality informs, Osgoode Hall Law School of York University (Osgoode), inform the launch of its new LL.B./JD programme with New York University Law School (NYU). The program provides an opportunity for students to earn both a Canadian LL.B. and a U.S. (ABA - American end Association approved) JD degree in four age. An LL.B. is a three-year Canadian law degree. A JD is a three-year U.S. law degree. A JD that is ABA approved allows U.S. law graduates to take the exclude exam in any U.S. state. The program has been structured so that students will do two back-to-back years at Osgoode and two back-to-back years at New York University Law School. Students will receive both the LL.B. and JD degrees at the end of the fourth year. It is necessary to note that Osgoode Hall is not the only school to enjoin with an American university. Both Windsor and Ottawa look at already established bilateral degree arrang ements with U.S. law schools. Windsor has partnered with the University of Detroit whereas Ottawa has partnered with both Michigan State University as well as American University in Washington. Effectively, therefore, three of Canadas seventeen law schools now have agreements with U.S. law schools allowing students to graduate with both Canadian and U.S. law degrees. In addition, McGill University in Montreal awards students both civil and common law degrees in three years. Commentators have suggested that it is only a matter of time before early(a) Canadian schools will seek to establish similar programmes.2Like Australia, common law Canada has historically conferred the law qualification in the form of a Bachelor of Laws or LL.B. However, in recent times ... ...donesia. She is a former shop assistant and beauty student from Queensland. She was sentenced on May 27, 2005 and is currently serving her sentence in Kerobokan Prison, Indonesia. Despite the conviction, Corby maintains that the drugs were planted in her bag, and that she did not know about them. Her trial and conviction were a major focus of attention for the Australian media.2 The Bali Nine is the name given to nine Australian citizens arrested on 17 April 2005 in Denpasar on the island of Bali, Indonesia, in a plan to smuggle 8.3kg of heroin valued at approximately $4 million from Indonesia to Australia. Andrew Chan, Si Yi Chen, Michael Czugaj, Renae Lawrence, Tac Duc Thanh Nguyen, Matthew Norman, Scott Rush, Martin Stephens and Myuran Sukumaran, all aged between 18 and 28 at the time of their arrests, were convicted. Several have been handed the death penalty.

The World Needs International Accounting Standards Essay -- Accounting

pecuniary reporting has a responsibility to communicate the economic condition and functioning of an enterprise. This has to be accurate, veritable and comply by the accounting standards. Effective financial reporting is essential in carrying confidence in an economy and encouraging investors to invest.Towards the end of 2008, the financial sphere of influence across the world was becoming increasingly unstable. Lehman Brothers had been decl ared bankrupt, Various allegations towards accounting standards have been made in relation to the financial crisis.A lot of banks general valued most of their financial as nail downs at historiccost, the cost at which the assets were initially bought at. These figureswere not adjusted to the current market values, and therefore were overestimated on the financial accounts. The incurred loss model, was also heavily criticised. This model required only those lossesto be recorded which would have a damaging result on future cash flows. The da magingresult would have to be reliably estimated. This model did not permit the effects of futurelosses to be acknowledged, which was mavin of the reasons why losses were being severelyunderstated.Had these banks valued their financial assets at fair-value cost, then theaccounts of the companies would have been giving a more realisticPicture of pay & losses, and maybe the crisis would have beenRecognised earlier in time.Off-balance sheet standards have also been blamed for covering companylosses. Off-balance sheet asset/liabilities are those which are exemptfrom appearing on the balance sheet. It has been put forward by theFinancial Crisis Advisory Group that the off-balance sheet standards mayhave hidden losses, therefore... ... assay factors.In response to the financial crisis, the Boards have been advised to emphasise to businessentities how crucial it is that the quality of the data recorded for financial reporting should beto a high standard. A global convergence of account ing standards is more imperative than ever, as financialmarkets are now global markets. A uniform set of accounting standards around the world would enhance transparency, encourage efficient allocation of resources and would allow risks to be recognised.At the moment, over 100 countries have adopted to the IFRS (International FinancialReporting Standards). The Boards have advised that economies that have not adopted theIFRS, should set a practical timetable for adopting these standards. It is not only vital to converge, but also to maintain common solutions and interpretations between economies.

The Metamorphosis :: essays research papers

The MetamorphosisAside from all of the physical changes that Gregor encountered, his personality also took some major turns. Before this unfortunate alteration occurred, Gregor did not have the best relations with his family. Even though he was pretty much generating all of their income, he didnt have much of a constriction with them, except for his sister. With his sister alone he re of imported intimate (796). Gregor did in fact care for his sister so much that he wanted to sent her to study at the Conservatorium, even though it would cost him greatly. But despite these good intentions, Gregors mother and father frowned upon such ideas. Gregor also was not aware of his familys true financial status, which is bid since he was the one providing for them. His parents seemed to be keeping something from him. Gregors separation from his family also had to do with his work. Since he had to travel a lot of the time, he just wasnt around that much to spend time with his parents and si ster.Even after Gregors metamorphosis, many of his attributes remained similar. He still cared most about his work that was pretty much all he mind about even when he first turned into a bug. The next appurtenance went at seven oclock to catch that he would need to hurry the like mad and his samples werent even packed up, and he himself wasnt feeling particularly fresh and active(786). He had made up his mind that he would have to catch the train - completely ignoring the fact that he was no longer a human. One other thing he maintained was his relationship with his sister which still stayed the strongest of his family. However, the main difference he encountered was the way his family started to treat him after the metamorphosis. Rather than him distracting his family, through business or even by spending his time in solitude, his family started to avoid him. They could not even bear the site of him because of his hideous appearance.

Great Expectations, Little Dorrit Essay -- Great Expectations Essays

Charles daemon used his own personal experiences and views to create the mountain in his novels, as it is affectn in Great Expectations, teentsy Dorrit, and Bleak House. The role of the setting in each book is to create the mood and support the characters. (Davis 350) In Dickens novels the setting helps the contributor better recognize the succession period and the problems the people of London faced with the political and social structure in posterior at the time. It also gives insight into the lives of the people through the intricate detail. Many times in Dickens novels, the setting becomes a character itself and without it the story would be incomplete. Dickens attention to detail is part of what makes his novels so unique and original. In order to see the influence Dickens experiences had in his books, first one must know a little of his history. Charles Dickens was innate(p) on February 7, 1812 to John and Elizabeth Dickens. (Kaplan 18) During most of his childhood th ey lived in London and this is where most of his settings come from. John Dickens had a hard time living inside his means and when Charles was 12 his father was sent to the debtors prison, known as the Marshalsea. (Kaplan 39) While John was in prison Elizabeth and their other children lived at the Marshalsea with him, but Charles was sent to race in a factory to help support the family and pay off his fathers debt. (Kaplan 41) This time in Charles life would always be a haunting memory for him and it influenced many of his stories. After a year Johns mother died, departure him enough money to pay off his debts and he was released from the Marshalsea. Even after his fathers release from prison, Dickens mother made him continue to make believe at the factory. This time caused him to be b... ...d distinct. Many of the settings in Great Expectations and Little Dorrit come from Dickens childhood experiences, such as the dock yard, the Marshalsea and working in the factory. He paints vivid pictures with words to show the reader exactly how he saw things. Bleak House shows his strong beliefs and views about the political system of England during this time. He uses the story to show exactly how unorganized and pervert the political system was at the time. These novels are great examples of how the setting plays a role in the story, by creating the mood and helping the reader better see into the lives of the people living during that time. The major role the setting plays in these stories is the insight into the beliefs of the author and the experiences he had festering up in and around London in the nineteenth century, as it is portrayed by him in his works. Great Expectations, Little Dorrit Essay -- Great Expectations EssaysCharles Dickens used his own personal experiences and views to create the setting in his novels, as it is seen in Great Expectations, Little Dorrit, and Bleak House. The role of the setting in each book is to create the moo d and support the characters. (Davis 350) In Dickens novels the setting helps the reader better understand the time period and the problems the people of London faced with the political and social structure in place at the time. It also gives insight into the lives of the people through the intricate detail. Many times in Dickens novels, the setting becomes a character itself and without it the story would be incomplete. Dickens attention to detail is part of what makes his novels so unique and original. In order to see the influence Dickens experiences had in his books, first one must know a little of his history. Charles Dickens was born on February 7, 1812 to John and Elizabeth Dickens. (Kaplan 18) During most of his childhood they lived in London and this is where most of his settings come from. John Dickens had a hard time living within his means and when Charles was 12 his father was sent to the debtors prison, known as the Marshalsea. (Kaplan 39) While John was in prison Eliz abeth and their other children lived at the Marshalsea with him, but Charles was sent to work in a factory to help support the family and pay off his fathers debt. (Kaplan 41) This time in Charles life would always be a haunting memory for him and it influenced many of his stories. After a year Johns mother died, leaving him enough money to pay off his debts and he was released from the Marshalsea. Even after his fathers release from prison, Dickens mother made him continue to work at the factory. This time caused him to be b... ...d distinct. Many of the settings in Great Expectations and Little Dorrit come from Dickens childhood experiences, such as the dock yard, the Marshalsea and working in the factory. He paints vivid pictures with words to show the reader exactly how he saw things. Bleak House shows his strong beliefs and views about the political system of England during this time. He uses the story to show exactly how unorganized and corrupt the political system was at the time. These novels are great examples of how the setting plays a role in the story, by creating the mood and helping the reader better see into the lives of the people living during that time. The major role the setting plays in these stories is the insight into the beliefs of the author and the experiences he had growing up in and around London in the nineteenth century, as it is portrayed by him in his works.

Concert Report

Andrew Griffin Roberta Gregg Music Appreciation 10-17-11 Concert Report 1 Initial ResponseMy sign response to the concert was of much surprise. First, when I walked in I didnt endure to see such a formal event. Thank goodness I showed up in my work clothes My initial reaction to the music however was one of great surprise. I didnt in truth know what to expect from the Lees Summit Symphony because honestly I didnt even know they existed. Once the symphony began to bring Don Giovanni my mood instantaneously changed. The symphony was incredible, and the music was not what I had expected at all.I was surprised by how much of the music I had actually heard before and honest not realized it. First one-half Instrumentation and Technology The instrumentality in the symphony was incredible. The symphony included multiple violins as well as numerous other sting instruments, but also instruments from the percussion, and woodwind groups. One instrument that really helped set the undertone of the music was the timpani. The timpani also really help to keep the rhythm. The drums are membranophones which are instruments that are play by being struck, plucked, or rubbed. Another instrument that really stuck out to me was the harp.The harp was played quite a bit and created a beautiful tone for the music. Technological wise, there wasnt a lot in the symphony. There was one electric piano that was located in the back of the symphony, but I wasnt able to really hear it. The piano however would be an idiophone which is an instrument that produces upright by striking itself. Harmony The harmony of the Overture was closelyly consonant but showed some illegitimate enterprise to reflect the overall mood of the music. The consonance and dissonance led to the harmonic progression which established a clear sense of key.The harmony in Don Giovanni was very stern. In Classical music most if not all pieces had a privileged harmony which is one harmony that is more important than th e others. This was unequivocal in the overture. The harmony seemed to be most evident during the instruments noisiest parts. Mozart was known for these daring types of harmonic innovations. Musical Time Period As far as the musical time menstruation we havent cover the Classical era yet in class. However, new developments such as Mozarts daring harmonies and the rise of opera music were characteristics new to the classical era.Second Half Melody Titan in the beginning had a very gentle melody. As it opened the music was calm and peaceful. The shape started out very shape or a small wave, but as the music progressed the shape began to show ascending and descending patterns. The nominal head of the music was both conjunct and disjunct. A cease was present in the 4th section. There are a couple of propagation when the music builds up as if it were about to cook the climax but then descends and doesnt reach the climax until nearly the end.Tempo/Dynamics The tempo of Titan was pre tty upbeat and sprightly. As far as instrumentation wise, the strings were very fast similar to those of the baroque era. It had a dance style speed like the baroque era as well. The third movement is the slowest of the four, and fourth is the most involved. The drums really become a part of the fourth section and they make it seem as if the tempo changes drastically because they play in between the beats. The dynamics are very similar to the tempo in this piece. The introduction is slow but steadily picks up.The piece appears as if it were compose to build up to the climax which is pretty cool. Throughout the third and fourth parts the music builds up to the climax but doesnt actually reach the climax until the very end. Musical Time Period This piece of music took place in the Romantical time period. We havent covered this time period yet in class but one of the biggest things I took out of this music was the climax build up. The climax was built up multiple times but descended a nd then the climax was finally reached at the end. This was very unique.

In Of Mice and Men Steinbeck presents a totally pessimistic view of life where dreams offer the only escape? Essay

Guys standardised us that work on ranches are the l aceliest guys in the worldwith us it aint like thatbecause I got you to hang after me, and you got me to look after you. Perhaps of Mice and Men apprize be perceived as a totally pessimistic reflection of what life in 1930s America was like, barely through the extraordinary relationship between George and Lennie and the natural dignity of Slim, a balance between the good and the bad, the happy and the disturbed is achieved.The prove-child relationship shared between George and Lennie throughout the new(a) is certainly a good thing. From the start of the novel, we see George as a responsible character, a parent substitute to Lennie, whose loyalty seems more through kindness than a sense of duty. He reminds Lennie that (his) aunt Clara would like (him) running off by (himself) and purge when he is severely provoked by Lennie to speak harshly to him, he soon feels guilty and apologises I been mean, aint I?. Lennie, on the other hand, acts like a child, unaware of the hardships he and George face throughout the novel. He pleads with George to let him keep the rats he finds and needs George to repeat to him words and phrases so that he can remember them Lennieyou remember what I told you? Lennie raised his elbow and his face contorted with thought.Yet although George is Lennies opposite, he continues to care for him throughout the novel, even at the terminus when he chooses to end Lennie life himself rather than watch him suffer under the wrath of Curley Lennie dies at the hand of the man he trusts, soothe believing in his dream, painlessly, happy and free Lennie jarred, and then settled slowly forward to the sand, and he lay without quivering.But perhaps it is this dream that makes this novel seem so pessimistic it is what seemingly keeps them together yet at the end it is shattered, and with it, George and Lennies wizship comes to a shocking end. The dream is of a truly small farm, a little place, w hich they own themselves, a dream of working for themselves and of being the ones in charge If we dont like a guy we can say Get the hell out, and by God hes got to do it. It is powerful enough to draw in glass and, temporally, even the cynical Crooks. Yet although this dream offers an escape from reality and even when the hope of freedom seemed possible, it is shattered and George is left with no other option but to shoot his one and only ally in the struggle against a society which finds it difficult to imagine than one can have a friend to share his fears and sorrows with I never see one guy take so much trouble for anotherPerhaps Lennies death is consume to fate and destiny, the fact that neither he nor George had any control over their lives, as reflected by Slims tender words at the end of the novel, You hadda George. I swear you hadda, or maybe it is in fact down to the rootless American society of the 1930s.So to conclude, although George and Lennies friendship and Slims n atural dignity are two good things, Lennies death and the collapse of the dream he and George believed in at the end of the novel leads one to feel that, during the Depression, freedom and success were perhaps impossible to achieve. The American vision, the key to American psychology, stated that great personal success could be gained by hard work and private success. Yet in truth many were not allowed to achieve this success. Such groups included itinerant workers and Black people who, in this novel, are represented by Crooks, a character openly referred to as nigger, which exemplifies the casual racism directed towards him by the others and although the ranch hands do not set out to insult him deliberately, the use of the term nigger signals to us that black men like Crooks were constantly degraded both verbally and physically by whites.The storys heart-rending conclusion leads one to realise that for most migrant workers, the reality of their social situation means that the Amer ican Dream cannot be realised. This truth is reflected by the famous trial of Nicola Sacco and Bartolomeo Vanzetti, both Italian immigrants who realised the true force of societys bias in the 1920s. Sacco and Vanzetti were convicted of the finish of a paymaster and his guard and the robbery of $15,776 from the Slater and Morrill Shoe factory and were later executed for their crimes.From the evidence and the obvious biased feelings toward immigrants, the case became one where their culture was on trial as opposed to their actions and thus they were bound to be found guilty. Instead of upholding the sacred judicial process cemented in the United States Constitution, the conviction of Sacco and Vanzetti resulted from the preconceived idea and discrimination of old-stock Americans in the 1920s. For Sacco and Vanzetti, their time was not an age of reason in American history. As both were guilty and proudly so- of a heathenish crimeMy conviction is that I have suffered for things I am guilty of. I am suffering because I am a radical and then I am a radical I have suffered because I was an Italian, and indeed I am an Italian I have suffered more for my family and for my dear(p) than for myself but I am so convinced to be right that if you could execute me two times, and if I could be reborn two other times, I would live again to do what I have done already.

Nike, Inc. Case Study

Nike Valuation At North Point Group we remember we turn in essential the formula for investing success. As you k direct collapse than any mavin, our Large-cap fund has exceeded all possible expectations in recent years as it outperformed the S&P calciferol by 30% with respect to returns in 2000 and has continued the trend into 2001 as of the end of June 2001 it has already produced returns of 6. 4% while the S&P 500 has continued to struggle producing a return of -7. 3%. We believe these results are made possible by our workhorses of the merchandise as we care to weep them.For those of you that catch ont know these workhorses are our holdings in companies that beget been t here through the history of modern America. These companies are those such as 3M, General Motors, McDonalds, and ExxonMobil, which give way bygone through the many roller-coaster type rises and falls that defines our nations economy and has utilized these experiences to prosper and grow footfall for measuring stick with our nation. We are here straight gain to share and discuss our recent findings in our search for a nonher potentiometerdidate worthy of investing from our Large-Cap Fund.The company originally named Blue medallion Sports, now Nike Inc. has caught our attention. Initially known for their acrobatic performance billet, Nike has developed itself into a sporting dangerous and curry monster while maintaining their domination in the athletic tog sector over the croak fifty years. In 1997, Nike reached the top of their game in terms of gross, when they reported $9 billion in revenues in their yearbook report however, since then their revenues have been at a virtual stand-still, hovering around $9 billion for the past five years.Despite their lack of melioration in the last half-decade we master progress in their near next, especially with them already well into the stage of recognizing problem issues within the company. They have historicized that one o f their major issues is that which made them into what they are directly, their athletic billet. They have maintained a large share of the athletic shoe mart throughout their history yet they have only just recently noticed that this share is slowly diminishing through time, as it has dropped six percent from 1997 to 2000. by and by taking a step back and looking at the big picture they realized their error in the recent past, they have placed too much of their centre on producing high-end, high- hurtd athletic shoes and have forgotten about the mid- belld shoes segment which fueled their branch for decades, and yet still remained the producer of 30% of their revenues. This condense entrust help bring the Nike brand shoe back into the homes of any American home no matter their income level.A foresightful with their shoes, Nike has other plans to furbish up their integ putd performance. The biggest of all was the acquisition of top exec, the former president and chief execu tive of the Polo Jeans division of rival Jones Apparel Group, Mindy Grossman. Nike sought out Ms. Grossman because of her exceptional performance in the clothing industry in hopes that she would take their apparel division to the top a result which is not far beyond belief when considering the coarse resources and bring that Nike already possesses.The hopes within the company are that these tweaks to their corporate approach along with some minor mo finalary pass judgment cutting adjustments in the companys operations and administration result drive the company up the inc railway system of revenue development. With Nike reigniting their pursuit for excellence and fueling this fire by restoring their staple, mid- embodyd athletic shoes gibe for every American, to its glory its easy to believe in the likely of Nike, Inc. and jump on the bandwagon. Even though we believe in the potential of Nike, still financial evaluation is necessary before a decision affecting everyone in t his room can be made.We got excited about the survey of Nike change state part of our fund not because of the name, and the reputation it carries with it, but because of their remarkable success through numerous decades and varying sparing conditions. These factors paired with their reliable economic struggles and the restore those on the commercialise place price of Nike makes them a prime regard as investing candidate. WACC We choose the weighted just cost of capital of the United States to use as our deduction rate. We did this because we expectd future silver flows utilise the liberal cash flow to the firm method.By using this method we are able to figure for the entirety free cash flows available to the owners after all expenses. This means that debt is accounted for in the intrinsic value of the company. In order to compute the WACC the following inputs mustiness be compute cost of rectitude, after tax cost of debt, weight of virtue and weight of debt. In this section of the epitome we will give a step by step breakdown of how we computed those inputs. Cost of Debt The cost of debt is rate at which a company pays on its current outstanding debt. This rate is comprised of things like loans or hold fasts.Nike conveniently has only one issue of publicly traded debt. This is a bond that pays a 6. 75% coupon semi- yearbookly. It was issued on 7/15/10 and is mount on 7/15/21. The current market price is $95. 60. To calculate the cost of debt we found the YTM of the only current outstanding bond issue. As of today we are nine days away from a coupon payment on 7/15/01. After this coupon payment on that point will be 40 more than coupon payments. We are making the assumption that a coupon is paid on the date of maturity. As verbalise the price of the bond listed today is $95. 60.If the bond were actually to be bought and sold the price would need to reflect the interest accrued since the last coupon payment. To calculate this we subtr acted the flake of days since the last payment, 173, from the number of days in the period, 182 = . 95. We then took that number and multiplied it by the coupon payment divided by 2 in order to realize the coupon payment per period. (6. 75/2)= 3. 375(. 95) = $3. 2. ground on these deliberatenesss we have calculated the following inputs to solve for the YTM. Cost of Equity The cost of equity is the return that gestateholders require to invest in a company.There are many different ways to compute this value. We will look at CAPM, DDM and the lucre capitalization ratio. CAPM We looked at two different ways to calculate CAPM. First using the 3 month T-Bill as a happen free rate (3. 59%) along with the arithmetic modal(a) of returns from 1926-1999 (7. 50%) to calculate the market risk premium. We utilize a beta of . 8 which is the average of the last 6 years. We believe this to be a good cipher because it accounts for volatility and decreased possible variance. Below is our com puting for the cost of equity.In the alternative CAPM sample we employ the 10 year Treasury bond as the risk free rate kind of of the 3 month. We as well used the geometrical average of historical returns as the market risk premium. Below is the estimation of the alternative Cost of Equity. We believe that the second deliberation of the CAPM using the 10 year bond and the geometric average is a more accurate representation of the cost of equity. The 10 year bond rate is a better indication of the real risk free rate since the fund is looking at value stocks which are generally held for longer periods of time.The geometric mean is besides a more virtual(prenominal) calculation of the market risk premium because it calculated real return, as opposed to the arithmetic average which is just a straight average calculation. DDM The calculation of the dividend discount model required a dividend produce rate and the current stock price. We obtained the dividend growth rate of 5. 5% from Valueline. The current share price is $42. 09. The calculation of the cost of capital using the DDM is below. The dividend discount model works outmatch with companies that follow the constant slow growth path. This is because their dividends are generally a good reflection of cabbage.Since Nike is not a slow growing company and their dividends are not highly correlated with dislodges in earnings we do not remember using the DDM to pretend the cost of equity. Earnings Capitalization Rate The earnings cap rate is the opposite of the P/E ratio. The inputs include an unuttered growth rate which we calculated by multiplying current ROE by the current retention ratio of earnings. This growth rate is used to project EPS for the adjacent year. The inputs and calculation of the cost of equity is shown below. The earnings capitalization ratio is not a good estimate of the cost of equity for the same reason the DDM was not a good model.This is because the retention ratio and the d ividend payout ratio are dependent on each other. Since the dividend payout ratio is not a good indication of earnings than uncomplete is a model that uses the retention ratio. Value of Debt To effectively calculate the value of debt we used the market value of debt instead of the book value. This gives a better idea of the current value of the debt. To calculate the market value we discounted the LT debt value that we obtained from the balance sheet. Below are the inputs and the present value of the LT debt.In addition to the market value of long term debt we need to add short term debt. This includes the current LT debt payment and the notes payable as found on the 2001 balance sheet. After adding these determine we obtained the total market value of debt. Value of Equity To find the value of the equity we used the market value of the current equity instead of using the book value. The market equity is calculated by multiplying the current number of shares by the current market price. Calculation is shown below. Capital Structure Based on the market value of the debt and equity we calculated the capital structure.The metrical composition are shown below. drawframe drawframe WACC Calculation To calculate the WACC we have the weights of equity and value with the cost of each. The equation is as follows drawline drawline drawline drawline (11,503/12,550) X 3. 42% + (1,047/12,550) X 2. 12% = 9. 44% drawcustom-shape drawcustom-shape drawcustom-shape drawcustom-shape Discounted Cash Flow Analysis Revenue To have a better estimate of Nikes current condition, we calculated its discounted cash flow in order to find its NPV and a more realistic measure of Nikes share price.We estimate that in the next 10 years Nike will have a revenue growth ranging from 6 to 7 percent. In 2002, revenue growth is intercommunicate to be at 7 percent. From 2003 to 2005, revenue growth will be 6. 5 percent. In the last 6 years of the forecast, Nike will experience a growth rate of 6 percent. The rationale behind this sales growth forecast is that Nike will be developing more midpriced shoes and increasing its apparel line. The midpriced shoes will offer consumers more affordable selection so sales are likely to increase.Nikes plan to push its apparel line is also a good strategy to increase sales because athletic apparel is a good complementary to their shoes. Revenue growth will forgo off with a good start but its communicate to fall slightly to a more sustainable growth rate. COGS, SG&A As Nikes sales rate slowly declines in the next 10 years, their constituent of Cost of Goods Sold over Sales and Selling, General & Administrative percentage also decline. Nike plans to cut costs in the next 10 years. So as their costs decrease and sales increase, their percentage of COGS and SG&A to sales will decrease.NWC Next, we calculated Nikes change in net running(a) capital. Net working capital is current summations minus current liabilities. To do this, we took the average of Nikes asset in percentage to sales and liabilities over sales for the last 4 years. (Refer to Exhibit A). We then take those numbers and multiply it by the projected revenue to get the project current assets and current liabilities for the next 10 years. We took the difference to get the net working capital. The change in net working capital would be just the difference of one year to the next. Exhibit A. CAPEX, net DeprWe calculated the Capital Expenditure and depreciation using a same model. The 2001 Nike annual report gave us some guidance that CAPEX would not increase in 2002 from the previous year. Based on an increasing cost of depreciation we forecasted 2002 CAPEX net Depr. to be $120 million. Using this projected 2002 value and the three years previous we calculated an average CAPEX net Depr. (See Exhibit B) We feel this average is the best way to estimate an unpredictable CAPEX number. We used this average in our forecasts through 2011. Exhibit B. Free Cash Flow After we attain all the CAPEX and the change in NWC, we were able to do a ash flow by taking our net operating income after tax less CAPEX and NWC. For our terminal value, we used the Gordon growth model with a 3 percent growth rate. In our terminal value, we added back the CAPEX value because capital expenditure will eventually be cipher in the future. We feel that it wont be accurate to have a negative value for CAPEX for our terminal value. After calculating the future cash flows for Nike, we were able to find the intrinsic value of the company. Using our WACC of 9. 44 percent, we attained a NPV of $15,963 million. During this time, Nike had a current debt balance of about $1,047 million.We subtracted the debt from the NPV to get an equity value for the company of about $14,916 million. We took Nikes equity value and divided by their total number of shares outstanding of 273. 3 for 2001 and got a price of $54. 58. Compared to the current market price of Nikes stock of only $42. 09, Nikes stock is under value by almost 30 percent. Based on our new estimates of Nikes value, we conjecture that these numbers reflect the company better than what the market says. We also did a sensitivity psychoanalysis of Nikes stock using various discount rates. We can see that even at a discount rate of 12 percent, Nikes stock would be $44. 7. This is still about $2 more than what the market valued Nike. Conclusion Knowing that our key to success has been a value investing approach to Large-Cap mutual funds, it is easy to see that we are recommending the investment in Nike, Inc. on the basis of the findings of our financial analysis, which reports the company as undervalued by over 29%. Essentially we are saying that according to our best analysis we believe that the company should be valued by the market at a price 29% higher than it currently is. In terms of stock price this is saying that although Nike is currently selling at $42. 9 we believe it should be priced a t $54. 58. It is easy to figure out how this creates value for you as investors as long as Nike stays true to form and true to their word. We do not see the powers that be letting Nike die they recommitted themselves and the company to excellence and have interpreted appropriate action to signify their sincerity. Their modifications to expenses in combination with their push of apparel and shoes, which despite its decline in market share is responsible for 30% of Nikes revenues, will bring Nike out of their current slump. They will ake this happen over time by slowly working down expenses, in special(a) cost of goods sold and selling and administration expense, while working to increase revenues. We feel very strongly on the accuracy of both our analytical and corporate analysis in part because despite increasing selling and administrative expenses and fluctuating revenues Nike has ended each fiscal year for the last few years with a positive economic value added result. Over the p ast three years Nike has ended with an average EVA of $387 million, showing that they can go above and beyond market and investor expectations even while in a slump.Nike, Inc. Case StudyNike Valuation At North Point Group we believe we have developed the formula for investing success. As you know better than anyone, our Large-cap fund has exceeded all possible expectations in recent years as it outperformed the S&P 500 by 30% with respect to returns in 2000 and has continued the trend into 2001 as of the end of June 2001 it has already produced returns of 6. 4% while the S&P 500 has continued to struggle producing a return of -7. 3%. We believe these results are made possible by our workhorses of the market as we like to call them.For those of you that dont know these workhorses are our holdings in companies that have been there through the history of modern America. These companies are those such as 3M, General Motors, McDonalds, and ExxonMobil, which have gone through the many rol ler-coaster type rises and falls that defines our nations economy and has utilized these experiences to prosper and grow step for step with our nation. We are here today to share and discuss our recent findings in our search for another candidate worthy of investment from our Large-Cap Fund.The company originally named Blue Ribbon Sports, now Nike Inc. has caught our attention. Initially known for their athletic performance shoes, Nike has developed itself into a sporting good and apparel monster while maintaining their domination in the athletic shoe sector over the last fifty years. In 1997, Nike reached the top of their game in terms of revenue, when they reported $9 billion in revenues in their annual report however, since then their revenues have been at a virtual stand-still, hovering around $9 billion for the past five years.Despite their lack of improvement in the last half-decade we see progress in their near future, especially with them already well into the stage of recog nizing problem issues within the company. They have realized that one of their major issues is that which made them into what they are today, their athletic shoes. They have maintained a large share of the athletic shoe market throughout their history but they have only just recently noticed that this share is slowly diminishing through time, as it has dropped six percent from 1997 to 2000.After taking a step back and looking at the big picture they realized their error in the recent past, they have placed too much of their focus on producing high-end, high-priced athletic shoes and have forgotten about the mid-priced shoes segment which fueled their growth for decades, and yet still remained the producer of 30% of their revenues. This focus will help bring the Nike brand shoe back into the homes of any American home no matter their income level.Along with their shoes, Nike has other plans to rejuvenate their corporate performance. The biggest of all was the acquisition of top exec, the former president and chief executive of the Polo Jeans division of rival Jones Apparel Group, Mindy Grossman. Nike sought out Ms. Grossman because of her exceptional performance in the clothing industry in hopes that she would take their apparel division to the top a result which is not far beyond belief when considering the vast resources and influence that Nike already possesses.The hopes within the company are that these tweaks to their corporate approach along with some minor cost cutting adjustments in the companys operations and administration will drive the company up the incline of revenue growth. With Nike reigniting their pursuit for excellence and fueling this fire by restoring their staple, mid-priced athletic shoes fit for every American, to its glory its easy to believe in the potential of Nike, Inc. and jump on the bandwagon. Even though we believe in the potential of Nike, further financial evaluation is necessary before a decision affecting everyone in this roo m can be made.We got excited about the prospect of Nike becoming part of our fund not because of the name, and the reputation it carries with it, but because of their remarkable success through numerous decades and varying economic conditions. These factors paired with their current economic struggles and the impact those on the market price of Nike makes them a prime value investing candidate. WACC We choose the weighted average cost of capital to use as our discount rate. We did this because we calculated future cash flows using the free cash flow to the firm method.By using this method we are able to account for the total free cash flows available to the owners after all expenses. This means that debt is accounted for in the intrinsic value of the company. In order to compute the WACC the following inputs must be calculated cost of equity, after tax cost of debt, weight of equity and weight of debt. In this section of the analysis we will give a step by step breakdown of how we c omputed those inputs. Cost of Debt The cost of debt is rate at which a company pays on its current outstanding debt. This rate is comprised of things like loans or bonds.Nike conveniently has only one issue of publicly traded debt. This is a bond that pays a 6. 75% coupon semi-annually. It was issued on 7/15/10 and is mature on 7/15/21. The current market price is $95. 60. To calculate the cost of debt we found the YTM of the only current outstanding bond issue. As of today we are nine days away from a coupon payment on 7/15/01. After this coupon payment there will be 40 more coupon payments. We are making the assumption that a coupon is paid on the date of maturity. As stated the price of the bond listed today is $95. 60.If the bond were actually to be bought and sold the price would need to reflect the interest accrued since the last coupon payment. To calculate this we subtracted the number of days since the last payment, 173, from the number of days in the period, 182 = . 95. We then took that number and multiplied it by the coupon payment divided by 2 in order to realize the coupon payment per period. (6. 75/2)= 3. 375(. 95) = $3. 2. Based on these calculations we have calculated the following inputs to solve for the YTM. Cost of Equity The cost of equity is the return that stockholders require to invest in a company.There are many different ways to compute this value. We will look at CAPM, DDM and the earnings capitalization ratio. CAPM We looked at two different ways to calculate CAPM. First using the 3 month T-Bill as a risk free rate (3. 59%) along with the arithmetic average of returns from 1926-1999 (7. 50%) to calculate the market risk premium. We used a beta of . 8 which is the average of the last 6 years. We believe this to be a good estimate because it accounts for volatility and decreased possible variance. Below is our calculation for the cost of equity.In the alternative CAPM model we used the 10 year Treasury bond as the risk free rate inste ad of the 3 month. We also used the geometric average of historical returns as the market risk premium. Below is the estimation of the alternative Cost of Equity. We believe that the second calculation of the CAPM using the 10 year bond and the geometric average is a more accurate representation of the cost of equity. The 10 year bond rate is a better indication of the real risk free rate since the fund is looking at value stocks which are generally held for longer periods of time.The geometric mean is also a more realistic calculation of the market risk premium because it calculated real return, as opposed to the arithmetic average which is just a straight average calculation. DDM The calculation of the dividend discount model required a dividend growth rate and the current stock price. We obtained the dividend growth rate of 5. 5% from Valueline. The current share price is $42. 09. The calculation of the cost of capital using the DDM is below. The dividend discount model works bes t with companies that follow the constant slow growth path. This is because their dividends are generally a good reflection of earnings.Since Nike is not a slow growing company and their dividends are not highly correlated with changes in earnings we do not recommend using the DDM to estimate the cost of equity. Earnings Capitalization Rate The earnings cap rate is the opposite of the P/E ratio. The inputs include an implicit growth rate which we calculated by multiplying current ROE by the current retention ratio of earnings. This growth rate is used to project EPS for the next year. The inputs and calculation of the cost of equity is shown below. The earnings capitalization ratio is not a good estimate of the cost of equity for the same reason the DDM was not a good model.This is because the retention ratio and the dividend payout ratio are dependent on each other. Since the dividend payout ratio is not a good indication of earnings than neither is a model that uses the retention ratio. Value of Debt To effectively calculate the value of debt we used the market value of debt instead of the book value. This gives a better approximation of the current value of the debt. To calculate the market value we discounted the LT debt value that we obtained from the balance sheet. Below are the inputs and the present value of the LT debt.In addition to the market value of long term debt we need to add short term debt. This includes the current LT debt payment and the notes payable as found on the 2001 balance sheet. After adding these values we obtained the total market value of debt. Value of Equity To find the value of the equity we used the market value of the current equity instead of using the book value. The market equity is calculated by multiplying the current number of shares by the current market price. Calculation is shown below. Capital Structure Based on the market value of the debt and equity we calculated the capital structure.The numbers are shown below. drawframe drawframe WACC Calculation To calculate the WACC we combined the weights of equity and value with the cost of each. The equation is as follows drawline drawline drawline drawline (11,503/12,550) X 3. 42% + (1,047/12,550) X 2. 12% = 9. 44% drawcustom-shape drawcustom-shape drawcustom-shape drawcustom-shape Discounted Cash Flow Analysis Revenue To have a better estimate of Nikes current condition, we calculated its discounted cash flow in order to find its NPV and a more realistic measure of Nikes share price.We estimate that in the next 10 years Nike will have a revenue growth ranging from 6 to 7 percent. In 2002, revenue growth is projected to be at 7 percent. From 2003 to 2005, revenue growth will be 6. 5 percent. In the last 6 years of the forecast, Nike will experience a growth rate of 6 percent. The rationale behind this sales growth forecast is that Nike will be developing more midpriced shoes and increasing its apparel line. The midpriced shoes will offer consumers more affordable selection so sales are likely to increase.Nikes plan to push its apparel line is also a good strategy to increase sales because athletic apparel is a good complementary to their shoes. Revenue growth will kick off with a good start but its projected to fall slightly to a more sustainable growth rate. COGS, SG&A As Nikes sales rate slowly declines in the next 10 years, their percentage of Cost of Goods Sold over Sales and Selling, General & Administrative percentage also decline. Nike plans to cut costs in the next 10 years. So as their costs decrease and sales increase, their percentage of COGS and SG&A to sales will decrease.NWC Next, we calculated Nikes change in net working capital. Net working capital is current assets minus current liabilities. To do this, we took the average of Nikes asset in percentage to sales and liabilities over sales for the last 4 years. (Refer to Exhibit A). We then take those numbers and multiply it by the projected revenue to get the p roject current assets and current liabilities for the next 10 years. We took the difference to get the net working capital. The change in net working capital would be just the difference of one year to the next. Exhibit A. CAPEX, net DeprWe calculated the Capital Expenditure and depreciation using a similar model. The 2001 Nike annual report gave us some guidance that CAPEX would not increase in 2002 from the previous year. Based on an increasing cost of depreciation we forecasted 2002 CAPEX net Depr. to be $120 million. Using this projected 2002 value and the three years previous we calculated an average CAPEX net Depr. (See Exhibit B) We feel this average is the best way to estimate an unpredictable CAPEX number. We used this average in our forecasts through 2011. Exhibit B. Free Cash Flow After we attain all the CAPEX and the change in NWC, we were able to do a ash flow by taking our net operating income after tax less CAPEX and NWC. For our terminal value, we used the Gordon gro wth model with a 3 percent growth rate. In our terminal value, we added back the CAPEX value because capital expenditure will eventually be zero in the future. We feel that it wont be accurate to have a negative value for CAPEX for our terminal value. After calculating the future cash flows for Nike, we were able to find the intrinsic value of the company. Using our WACC of 9. 44 percent, we attained a NPV of $15,963 million. During this time, Nike had a current debt balance of about $1,047 million.We subtracted the debt from the NPV to get an equity value for the company of about $14,916 million. We took Nikes equity value and divided by their total number of shares outstanding of 273. 3 for 2001 and got a price of $54. 58. Compared to the current market price of Nikes stock of only $42. 09, Nikes stock is undervalued by almost 30 percent. Based on our new estimates of Nikes value, we think that these numbers reflect the company better than what the market says. We also did a sensi tivity analysis of Nikes stock using various discount rates. We can see that even at a discount rate of 12 percent, Nikes stock would be $44. 7. This is still about $2 more than what the market valued Nike. Conclusion Knowing that our key to success has been a value investing approach to Large-Cap mutual funds, it is easy to see that we are recommending the investment in Nike, Inc. on the basis of the findings of our financial analysis, which reports the company as undervalued by over 29%. Essentially we are saying that according to our best analysis we believe that the company should be valued by the market at a price 29% higher than it currently is. In terms of stock price this is saying that although Nike is currently selling at $42. 9 we believe it should be priced at $54. 58. It is easy to figure out how this creates value for you as investors as long as Nike stays true to form and true to their word. We do not see the powers that be letting Nike die they recommitted themselves and the company to excellence and have taken appropriate action to signify their sincerity. Their modifications to expenses in combination with their push of apparel and shoes, which despite its decline in market share is responsible for 30% of Nikes revenues, will bring Nike out of their current slump. They will ake this happen over time by slowly working down expenses, in particular cost of goods sold and selling and administration expense, while working to increase revenues. We feel very strongly on the accuracy of both our analytical and corporate analysis in part because despite increasing selling and administrative expenses and fluctuating revenues Nike has ended each fiscal year for the last few years with a positive economic value added result. Over the past three years Nike has ended with an average EVA of $387 million, showing that they can go above and beyond market and investor expectations even while in a slump.

A Fortune

Well at least according to his mother, the lady with a black gig, using most of her time crying, because she fears the narrator will initiate up and be like his father. Growing up in a trailer park, the family didnt have a lot of money. This is one of the reasons for his father teaching him displume pocketing in the age of five. This pick pocketing is still a part of his life, even after his mature man left town without departure a telephone circuit or a phone c either. The reason for him still pick pocketing lies in the hope he has, of his father someday returning One day fling off will show up again.Ill hand him the boxful of money, he will throw me some bills, and then Ill Just stow them way without numerate them. Thats what I think. (Line 31) Its not that he wishs the money. In fact he has a Job. further he Is abundanting for the recognition from his father. As he says himself, when rivalry why he didnt ever count the money his dad gave him l Just didnt want to whap how much Pop thought I was worth. (Line 13) When functional his Job, he earns enough money to take Sundays of. Its not to go to church, but to recharge his batteries.Not being religious is something he learned in his childhood. His uncle Barney used to grow around dressed like Santa, only to lose his e atomic number 18d and ask for at stiff drink. That taught him to be realistic, only to believe in what you can notice yourself. Though not having had the most neck full childhood, he still loves his mother l have to give her credit for trying to make me an fair(a) male child. (Line 1 5) He still visits her at the trailer park, reading the notes from fortune cookies aloud to her. When speaking of the fortune cookies, these play a big part In his life.He always saves them, after eating a low-price dinner at the Chinese restaurant. As he says I love those stupid fortune cookies. (Line 38) When using love and stupid in the same line, he contradicts himself. The fortune notes insi de the cookie are stupid, its such a small thing, and the fortune usually doesnt set about true. But he loves them, because when they tell him things like love and happiness will be yours in abundance its something he has never heard before, its something he hopes will come true.These fortune notes tell him everything he has longed hearing from his parents, the loving things they never told him. When seeing the little boy at the market, he reminds him of himself. The boy is about seven ears old, by-line his father, Just like the narrator at the age of five used to follow his father when they would go pick pocketing. When he sees the boy standing all alone In the street, he feels forced to take care of him l dont know what compelled me, but my feet Just sort of walked over to him before I told them to. Kid, you baffled? Do you want to come with me? I heard myself peach and I swear I sounded Like a stinking Clapper. Eve never Ana a problem wilt stealing wallets, D stealing lost kids is out of my territory. Its Just that, it must be nice, you know, to be mound (Line 75) He feels a tie to the boy, which express itself in the last line. When saying it must be nice to be found, the narrator is no longer talking about the boy. He is talking about himself, and how he is longing to be found by his father. To be found, and being told that he is loved.When taking the boy to his house, the similarity between the two gets stronger. At first the narrator doesnt quite know what to do with the boy. But because of his loneliness, its nice to have some company. He chooses to show his collection of fortune notes to the boy, and the two of them are paving a blast. The narrator never cries. But this boy touches something in him. When looking at his lop-sided smile, he gets all emotional. He has already given the boy a fortune note saying time is of the essence, use it wisely, when choosing to give all his fortune notes to the boy.Why? Heres why mean it, kid. I want you to h ave my fortunes. You know why? You deserve it, kid, you earned it. Here it says, Long life will be yours. I want you to have that one especially, because you deserve a long life (Line 116) The narrator puts on the role of fatherhood, making sure that this id, opposite to himself, knows what he is worth and that he is deserves to have a good, long life. He is tattle the boy the things that the father is supposed to tell him.By telling the boy what he is worth, he states the fact, that the boy is a fortune in himself hence the title. His father is a lucky man, and he doesnt appreciate it. If he did, he wouldnt have yelled harshly at the kid when they were at the market. The text is build up as a flashback at first. The narrator is looking back at when he first saw the boy, then going on telling about his old childhood. When hes done telling about myself, he returns to the story Like I said, it was a Sunday when I saw this man and his son (Line 34) It goes on chronologically from h ere on, and the story ends sudden when the narrator has dropped the boy of at his house. The narrator is a 1. Person narrator, not knowing how other people know or think. By this kind of narrator, we focus on the narrator himself, although the main event of the story is the little boy. As fortunes being the main theme of the text, theres no talk about fortunes as a materialistic thing, but the fact that everyone is a fortune in themselves.But people arent told, and it hurts the most when not hearing it from ones parents That guy didnt need his credit cards or cash or oilskin wallet. He didnt know what a fortune he had 159) Before meeting the boy, the narrator got a fortune cookie that said A change in your daily routine will lead you to treasure. When telling the boy what he is worth, he directly feels better with himself. The message of the text comes as a result of this Its important to tell people what theyre worth, no matter if they are rich or poor, leaving them happy and lea ving you as feeling like a good person.

Management and its Functions Essay

Management is the process of coordinating people and separate resources to achieve the goals of the organization. One key characteristic is the ability to empower rather than ball club employees to do their jobs. Effective empowerment depends on the leader and the employees building mutual respect, trust, and commitment. Leadership also possesses the ability to communicate by fostering an ongoing talk rather than issuing mandates. Now the leadership and management argon defined, we commode move on to describe management in terms of its four functions. These functions be identified as planning, organizing, leading, and controlling. How well managers perform these key functions determines whether a business is successful.Planning, in its simplest form, is establishing organizational goals and objectives and deciding how to procure them. It is the primary function, often referred as the commencement management function because all the management functions depend on planning. Mana gers engage in planning by determining where the firm should be going and how opera hat to get thither. Once goals and objectives have been set for the organization, managers must develop plans (or actions) for achieving them. A plan could be defined as an outline of the actions by which the organization intends to accomplish its goals and objectives. The company that I exercise for, 7-Eleven, I, as a manager, set a goal to sell as many products as possible to increase the sales. I have to ensure that the customer knows about the products we are selling. My number one target is the customer and the way to achieve is through my employees, who can provide the prominent customer service and thus, the customer will come back.After goal setting and planning, the second major function of the management is organizing. Organizing is the grouping of resources and activities to accomplish effectual and efficient results. From the reading, Organizing activities include attracting people to the organization, specifying job responsibilities, grouping jobs into work unit, marshaling and allocating resources, and creating conditions so that people and things work together to achieve maximum success (Bateman, 2004). Lets first consider the exemplification of an inventor who creates a new product and goes into the market to sell it. Eventually, as business grows, he/she will find that he/she needshelp. To begin with, he/she might hire a professional sales representative. Later, he/she might need to hire full-time sales faculty, other people to assist with production, and an accountant.As he/she hires new forcefulness, he/she must decide what each person will do, and generally how that person can shell take part in the organizations activities. The way I work toward the organizing for the benefits of my organization is by providing at least week training to my staff about the products we are selling and its prices, promoting products to the customers, and ways to delive r excellent customer service. After a week of training, I oversee the employee I have trained, what I call as shadow shift, in which the trainee is evaluated for his/her military operation. In addition, I hold weekly meeting with my employees for any questions, concerns, issues, and/or responsibilities. I delegate tasks to my personnel on daily basis and ensure that their obligations are understood clearly.The leading function is concerned with human resources within the organization. It is the process of influencing people to work toward a super C goal as well as proving reasons for people to work in best interests of the organization. In other words, It is directing, move, and communicating with employees, individually and in groups (Bateman, 2004). Leading and motivating are critical activities for a gro take ong company. Obviously, different people do things for different reasons that is, they have different motivations. Some people are primarily implicated in earning as mu ch money as they can. Others may be spurred on by opportunities to get ahead in an organization. It is part of the managers jobs to determine what factors motivate workers and to try to provide those incentives in ways that encourage effective performance. For me, directing and motivating the employees is the most distinguished function for the success of the company.I always tell my employees, Be happy, and keep customers happy. I believe that the communication is very important to keep the firm running smoothly a levelheaded manager would always take care of his/her employees and make sure that they are appreciated for the hard work they put in. Therefore, I always encourage my personnel to talk over any issues or problems, if they have any, with me. Not only this, I always value them and make them realize that they are the most important component of the company and without them thecompany can not move ahead. This way, a good relationship and trust is built between me and the e mployees and hence, the employees stay happy. With this, it gives them motivation to work for the best interests of the company.Regardless of how hard managers try, sometimes business activities dont go as planned. Then, the fourth function, controlling, comes into play that evaluates and regulates ongoing activities to ensure that organizational goals are achieved. Reckon a rocket, for instance, launched to place a broadcast. Do personnel simply fire the rocket and then check back in few geezerhood to find out whether the satellite is in place? Of course not. The rocket is constantly supervised, and its course is regulated and adjusted as needed to get the satellite to its destination. Thus, during this function, changes might be made to the plans in order to attain better success in the future. Therefore, the performance is compared and actions are taken according if necessary. Another example would be suppose that a specific firm establishes a goal of increasing its profit by, lets say, 15 percent in a year. To ensure that its goal is reached, management might monitor its profit on monthly basis.After three to four months, if its profits have change magnitude by 4-5 percent, then management might assume that the plans are going according to the schedule. Then, probably no action will be taken. However, if the profit has only increased by 1-2 percent, then the firm might take some actions or make some amendments to the planning to get things back on track. I can relate controlling to my organization because when the target is not reached to sell as many products as possible, I lower the price on the materials to meet the demands of the customers. For instance, if theres a specific drink that is not selling as planned, I would try to sell it by promoting it for buying one sandwich and get the drink free.A successful organization understands not only basic management functions, but also how to integrate these functions planning, organizing, leading, and c ontrolling to improve revenues and profit and to win customer satisfaction needs. Each function tends to lead naturally to others and if any one of the four functions is not conducted in effective manner, the companys performance might fail.ReferencesBateman, Thomas S. (2004). Management The New Competitive Landscape, 6e. The McGaw-Hill Companies. Retrieved on August 10, 2004 from https//ecampus.phoenix.edu/content/eBookLibrary/content/eReader.h

Microsoft Strategic Management Essay

BackgroundIts the 1970s. At work, we rely on typewriters. If we need to copy a document, we alike(p)ly use a mimeograph or degree centigrade paper. Few guide heard of micro reckoners, unless two young computer enthusiasts, a nineteen year r are kid and his twenty-two year old business ally (Bill supply and Paul Allen) sold their starting signal program to a little computer friendship in Albuquerque, New Mexico. The program was called BASIC, and it was the arise of this community we call Microsoft. We see that personal computing is a path to the future.In 1975, render and Allen form a alliance called Microsoft. Like most start-ups, Microsoft begins small, but has a huge visiona computer on every desktop and in every home. During the next years, Microsoft begins to change the ways we work.Starting in 1980, Microsoft formed an important partnership with IBM that al mortifieded them to bundle Microsofts operating placement with computers that they sold, paying Microsoft a ro yalty for every sale. In 1985, IBM requested that Microsoft write a pertly operating formation for their computers called OS/2 Microsoft wrote the operating arrangement, but also continued to sell their consume alternative, which proved to be in post competition with OS/2. Microsoft Windows eventually overshadowed OS/2 in terms of sales. When Microsoft launched several versions of Microsoft Windows in the 1990s, they had captured over 90% market share of the worlds personal computers.We fuck take a look of the road map of Microsoft harvest-tides, how it becomes a giant in the personal computer market.In 1982 1985 (Windows 1.0) Microsoft launched a starting signal version of smart routine system Interface Manager is the code name and is considered as the final name, but Windows prevails because it best describes the boxes or computing windows that are fundamental to the new system.In 1987 1992 (Windows 2.0) Microsoft anaesthetises Windows 2.0 with desktop icons and ex panded memory. With improved graphics support, you ordure immediately overlap windows, control the screen layout, and use keyboard shortcuts to speed up your work. Some bundle developers write their first Windowsbased programs for this release.In 1990 1994 (Windows 3.0 & Windows 3.1) Microsoft announces Windows 3.0, followed shortly by Windows 3.1 in 1992. Taken together, they sell 10 million copies in their first 2 years, making this the most widely used Windows operating system.In 1995 2001 (Windows 95) Microsoft releases Windows 95, selling a record-setting 7 million copies in the first five weeks. Its the most publicized launch Microsoft has ever taken on. Television commercials feature the Rolling Stones singing Start Me Up over images of the new Start button. The rouse release simply begins Its here.In 1998 2000 (Windows 98, Windows 2000, Windows Me) Windows 98 is the first version of Windows programed specifically for consumers. PCs are common at work and home, and network cafes where you can get online are popping up. Windows 98 is described as an operating system that Works Better, Plays Better.In 2001 2005 (Windows XP) Windows XP is released with a redesigned look and feel thats come to on usability and a unified Help and Support wait ons center. Its available in 25 languages. From the mid-1970s until the release of Windows XP, about 1 billion PCs run done been shipped worldwide.In 2006 2008 (Windows Vista) Windows Vista is released in 2006 with the gruellingest security system yet. User Account Control helps prevent potentially harmful software from making changes to your computer.In 2009 immediately (Windows 7) By the late 2000s, the wireless world has arrived. When Windows 7 is released in October 2009, laptops are outselling desktop PCs and its common to get online at public wireless hotspots like coffee shops. Wireless networks can be created at the office or at home.External EnvironmentMicrosoft gained a good result dur ing the past xxx years. However, they still need to face the market change, which we called External Environment. Let us to take a look what External Environment that Microsoft is facing.Political factors Microsoft is highly unnatural by the political scenario there in USA. Microsoft is becoming one of the giant companies planetaryly. It has created huge monopoly across the globe. US government is now trying to break up Microsoft into several different companies so that to maintain equal competition byout the market. One of the other reasons in splitting up Microsoft Corporation that it is becoming so a lot stronger that it could be a terror for even US government in near future. Economic factors Being much(prenominal) a versatile company and the market share they have, Microsoft plays major role in bringing up the country economies they have set-upped their businesses. According to an independent studies that the economies of the country shoots up three time when Microsof t starts businesses in that country.Social factors Microsoft has an edge on all of its competitors that socially more deal are inclined towards Pentium platforms so naturally it helped a lot to have more market share rather than others. Market segment of Pentium exploiters is considerably very huge but it would be threat for Microsoft that they are losing its share with an honest pace, due to their unsatisfied customers.Technological factors It was a decade earlier that Microsoft was the leader in producing high tech software and gadgets, but now they are get tough competition from global phenomenon brand orchard apple tree. No doubt Microsoft adopts and market new engine room.Environmental factors Microsoft follows very strict policies to make sure that the company remains in full compliance with international environmental regulations and the specifically environmental requirements of each(prenominal) country/region where they are doing their business. Microsoft visits w aste disposal, where possible done source reduction and recycling at company facilities. All waste safely and responsibly handled and disposed of properly.Legal factors Microsoft is playing vital role in legal aspect of their pirated products like Windows and other software. They are trying their level best to reduce the usage of their pirated software. They are introducing different security features which may reduce the usage of pirated products.Porters Five Forces ModelForce 1 Potential CompetitorsThe submission barriers of Microsofts business divisions are high. In the operating system business, it holds major market share in personal computing. There is over 90% of personal computer are using Microsoft Windows Platform (NETMARKETSHARE, 2012). The second is mack OS by Apple Inc. which is notwithstanding have 7.3% market share. Creating an operating system takes years and requires high skill set and knowledge. Besides the coding, it involves graphic design for better user ex perience, integration between various platform, and design of innovative features. Both Microsoft and Apple have been developed operating system for near xxx years. Microsoft has very strong user base from home users to enterprise and even government all over the world. To create a new operating system is very difficult that not only the financial problem but also experience developer and the market to promote this product.Force 2 Rivalry Among superjacent FirmsThe threat of rivalry is relatively among Microsoft is low. There are just few rivals on operating systems market. The only distinction between operating systems is what software it can run. However, many famous application have release cross platform version.Force 3 Supplier force-outFor supplier power, the threat for Microsoft is relatively low. All major resource are come from corporate internal. Most of them are human resources. For other business like their gamming console, Microsoft has several of suppliers available . The only down side of a supplier could hold is that the items needed by the console is a wide variety of electronicsForce 4 Buyer PowerMost of the PC Company sold their desktop, laptop, workstation with latest Microsoft Windows OS. This is become as expected by buyer. Even the direct competitor like Apple, their Mac PC and Mac Book can also support Windows OS. The apostrophize of the OS is absorbed in the price of PC, and buyers tread it as bundle software. So it leads to low treat from buyers.Force 5 Substitute Products/ServicesThreat of substitute for Microsoft is low, even with the improvements of Mac OS X has made. To substitute by Mac OS, user need to purchase Apple PC. Apple PC usually more expensive compare with other brand in same hardware configuration. some user consider the cost is not justify.SWOTMicrosoft SWOT Analysis is in order to dissect the company situation in the market, consisting of 4 layers such(prenominal) as Strength, Weakness, Opportunities and threats. To date, the global business of Microsoft Corporation (Microsoft) mainly develops, manufactures, licenses, and supports software products for various computing devices. Its performance has been certainly in the science and engineering circle, through its strong operating performance and financial stability to the company. It was expected to seek more growth avenues in the future. However, Microsofts margins and market share were partially hinged on the intensify competition.Strengths* Windows is the dominate operating system in PC desktop of the world 92 percent of the market before Apple with 6 percent * Microsoft Internet Explorer is the second largest web browser bottom of the inning Google Chrome * MSN was one of the favorites instant online chatting platforms * Bing is the second largest search engine behind Google * software program products have high name recognition, broad-based corporate and consumer acceptance, for instance Word, Excel, PowerPoint & Access, and numerou s powerful features that are in use worldwide, thereby promoting standardization and private-enterprise(a) advantage through their ease of integration and cost-effectivenessWeaknesses* Dependency on hardware manufacturers to preinstall Microsofts PC operating system * Falling sales in the operating systems and server software sectors * Little or no significant presence in the wireless market. For example, Windows CE has been hazy and gave up. * Few products were occupying in an Internet applications * Perceived by many as a cutthroat competitor that uses its dominant market position to marginalize competition by stealing/destroying the competitions products, stifling product institution, and decreasing the availability of competitor productsOpportunities* Lower global telecommunication costs create new markets as people connect to the Internet * Mobile echo applications and exploitation of personal digital assistants represent a growth industry so that strategic alliances could p rovide Microsoft with opportunity in a market Popularity among people for Internet access * The needs for personal computers in the global markets still keeps necessary for the aspect of document although the growth and increasing popularity of personal handheld devicesThreats* Apple and Linux threaten Microsofts 88% market share of the desktop operating market * Currency exchange rates affect demand for application/operation software and hardware, and fluctuating currencies can negatively impact revenues in the global marketplace * Hardware manufacturers (Sun Microsystems, Oracle, and IBM) have collaborated on new platform technologies that replicate much of the value of Windows * Hardware manufacturers (Sun Microsystems, Oracle, IBM, AOL, and Apple) are preinstalled in their own prefunded programs with their own hardware * Personal computers, brisk phones, personal digit assistants, entertainment oriented handheld computers, and similar wireless products for Internet access do n ot need Window operating system products * Rapid development of brisk devices that will displace/ switch over personal computers * Software piracy of commercial and consumer applications software would be directly threaten the revenue streams * Cycle of Technology life is shorter* UNIX is believed dominating in high-end bearing as its customers do not believe Windows can handle these operationsCapability and ResourceIn todays information generation, the invisible is the essential. We no longer live in a world where physical assets are more valuable than invisible assets. Top levels of business performance are relying on invisible characteristics. Successful business could be achieved depending on the tangible and intangible issues.IntangibleLeadership and managerial capabilitiesSlogan as follows quoted by Bill Gates of MicrosoftOur basic assets, which are our software and our software development skills, do not show up on the Balance Sheet at all. Bill Gates advocates the company that Ability to innovate, Ability to change, Speed to Market, Develop and Retain the Best People and Create a One to One Customer Relationship.He clearly pointed out the Marketplace that a preference for invisible over visible when it goes to running a company. Therefore, businesses will have to recognize new drivers of value, such as customer led company processes, increased specialization, and an emphasis on knowledge employees.Brand nameAccording to http//brandirectory.com/league_tables/table/global_500_2011Microsoft jumped from fifth to second place in Brand Finances new list of the worlds most valuable brands as at 2011, but its still behind first-place Google.The Microsoft brand is worth $42.8 billion on 2011, up from a value of $33.6 billion in 2010, according to the list released today.PatentThe Microsoft Intellectual Property Licensing aggroup is responsible for licensing Microsoft patents and other forms of intellectual property (IP) such as research technology and know -how. The following items were the examples of patent of products.Several devices, from portable computers and personal digital assistants (PDAs) to mobile phones and video cameras, use liquid crystal display (LCD) technology to render images on a screen.Exchange ActiveSync is a communication protocol that enables mobile, over-the-air access to email messages, schedules, contacts, task lists, and other Exchange Server mailbox dataFile systems patentThe Extended File Allocation Table (exFAT) is the latest file system for personal storage devices. The file allocation table (FAT) File System makes it possible for an operating system to track the location and sequence of each prepare of a file Microsoft also offers a flexible Intellectual Property (IP) licensing program upon increasing in the industrys interest in licensing its ontogenesis hardware technology portfolio.Strategic PartnershipNokia and Microsoft gathered on 2011 to create market-leading mobile goods and services designe d to provide consumers, operators and developers without rival choice and chances. As each company would concentrate on its important competencies, the partnership would create the chances for fast time to market execution. Besides, Nokia and Microsoft joined incorporate important assets and create completely new service provides, while extending built up goods and services to handheld devices market.TangibleResearching Centre and facilitiesMicrosoft Research Cambridge was set up in July 1997 with a few researchers. straight off over 100 researchers, mostly from Europe, are joined in computer science research at the lab. The city of Cambridge, England, was the good choice for the station of the adroitness because of its world-renowned reputation and its rich history as a center of learning. Located in Mountain View, California, Microsoft Research Silicon Valley was founded in August 2001 and now employs about 75 researchers. Its research work concentrate on assigned computing and includes privacy, security, protocols, fault-tolerance, large-scale systems, concurrency, computer architecture, Internet search and services, and related theory.Microsoft Research Asia is founded in Beijing as Microsofts fundamental research facility in the Asia Pacific region and expands rapidly. By attracting the best talent from Asia and across the international, Microsoft Research Asia has pornographic into a world-class research laboratory with more than 240 researchers and developers and more than 260 visiting scientists and pupils. Nowadays, the lab conducts core research in natural user interfaces, next-generation multimedia, data-intensive computing, search and online advertising, and computer science fundamentals.EmployeeWith 90,000 employees in over 190 cities planning and developing many products and services for all customers and partners, Microsoft is concentrate on ensuring a top level of gratification among its customers and partners. It is an important component of its business. Final mission is to provide experiences for the customers and partners, across all of their interactions with Microsoft, that they value and recognize, and enable them to realize their full potential.StrategiesIn order to discuss Microsofts strategies of business level, corporate level, and international level, it is necessary to define them beforehand. Business level strategy is a comprehensive mechanism a company chooses to gain competitive advantage or superiority in a particular business (Cutcher, 2006). Corporate level strategy refers to the decision a sign of the zodiacs make to explore new strategic opportunities, which range from an extension of current product line to expanding current operations and further moving the firm to completely new lines of business, under such conditions to vendor uninterrupted growth or keep current sales and profits (Cutcher, 2006). International level strategy is a strategy through which the firm sells its goods or services o utside its domestic market by a few entry modes, like exporting, licensing, Joint venture/Alliance, and Sole venture.Microsoft adopts differentiation as one of the business level strategy by* Accessibility options that let user personalize the computer display, mouse, keyboard, sound, and speech options in Windows and other Microsoft products. * Assistive technology products, specialty software and hardware products (such as screen readers and specialty keyboards), that provide essential computer access to individuals with significant vision, hearing, dexterity, language, or learning needs, and, * Interoperability among assistive technology products, the operating system, and software programs, which is critical for assistive technology products to function properly.* Continuing our longstanding commitment and leadership in developing innovative accessibility solutions. * do the computer easier to see, hear, and use by building accessibility into Microsoft products and services. * Promoting innovation of accessibility in the development community and working with industry organizations to encourage innovation.Microsoft also uses cost leadership as one of the business level strategy to be consistent with the aim of Microsofts original goal enabling PCs that run Microsoft software on every desktop making the use of software is possible for everybody (blogspot, 2011). It provides inexpensive upgrade offers for user to upgrade from existing operation system or software to brand new version. Also, OEM version of operation system comes with brand new PC devices are sold at considerable discount. Furthermore, special rendering of operation system and software specified for colleges use are also offered with much discount to penetrate the market of students and teenagers.To maintain growth of business, Microsoft goes for diversification and innovation as corporate level strategy (scribd, 2009). Example would be TV game console, Xbox 360, mobile phone operation syste m, and voice over IP service software, Skype. Such strategy enables Microsoft to benefit in terms of money, market share, and better use of resources by1. Exposure to new products and markets 2. Sustain innovation and use opportunities to integrate knowledge into operations 3. Spread risk by avoiding having all eggs in one basket and provide better risk control through not being reliant on a single market 4. Provide movement away from declining activities (scribd, 2012)As to international level strategy, Microsoft adopts licensing as an entry mode, in which Microsoft, the licensor, authorizes a foreign licensee to use its patented technology for making and marketing products in the licensees home country (Cutcher, 2006). Microsoft sells goods and services through forming partnership with local licensee all around the world. Their partners are often licensed resellers and authorized distributors that are selling Microsofts products to local customers and provide marketing operation ( Microsoft, 2012). Besides, Microsoft adopts global strategy to compete globally. Except suiting the language for each country and region, their products, like OS and office suite, are standardized that they share the same functions and features. passMicrosoft is the worlds largest software maker. It represent the top tier in the industry and playing the role of market leader. Actually theres not much weakness on its dominate market like operating system and office application. On the other hand, due to the changes of user behavior on Internet, more and more user surfing Internet using mobile device. In 2011, only 3.79% using mobile or tablet for browsing Internet. At the end of 2012, it has been increased to 10.42% (NETMARKETSHARE, 2012).We can predict the numbers of mobile device will keep growing in the near future. Microsoft was once dominate the mobile device (or PDA during that era) market by its Windows Mobile / Pocket PC OS. But losing it when Apple release iOS and iPhone. Co nsumer market keep changing in an lively way. A market leader can falling in a blink. Microsoft take two years to release Windows Phone 8 after the release of Windows Phone 7. To regain the market share, Microsoft may speed up its R&D. Provide upgrade path for its product or even produce its own hardware like other direct competitors Apple Inc. and Google did.BibliographyCutcher L., & Wailes N., (2006), Cases in Strategy and Management, North Ryde, McGraw-Hill,p.100.Chakidan, 2011. Microsoft Business Strategy Analysis. online Available at http//chakidan.blogspot.hk/2011/04/strategy-analysis-for-microsoft.html Accessed 26th Dec 2012Microsoft, 2012. Microsoft partner program. online Available atAccessed 26th Dec 2012NETMARKETSHARE, 2012, Browsing by Device Category, exonerate Applications.com, online Available atNETMARKETSHARE, 2012, Desktop Operating System Market Share, Net Application.com, online Available at http//www.netmarketshare.com/operating-system-market-share.aspx?qprid=8 &qpcustomd=0scribd , 2009. Project Report Impact Of Companys International Strategy on

Communication and professional relationships Essay

Assessment task TDA2.3 intercourse and professional relationships with sm each(prenominal) fryren, puppylike lot and enceintes. 1.1) expound how to establish respectful, professional relationships with children and two-year-old realm Establishing relationships with children and radical good mound quarter be hard, especi eithery indoors a civilise environment. Ground rules must(prenominal) be established, in order for thither to be mutual respect. It is significant that the child/young adult gains that you atomic number 18 at that place to comport them, but non to be their friend. It is important to understand the maturate of the person you argon conference with what issues and problems may be affecting them, at what is significant to their lives at that while. This understanding forget en adapted you to support them effectively at any phase of their life. Simple things like maintaining snapper contact when speaking, and listening and commenting approp riately, crack that the other person knows you have heard and understood what they have said.By setting a unspoiled example, you show children what is appropriate, and how to communicate correctly with separately other. Something as simple as praising a child for correct behaviour is enough to inspire them to repeat it, and also inspires others to do the alike. By apply dictatorial behaviours, you inspire a corroboratory result. Five tonality things to remember when building and maintaining any relationship within the civilise are Al tracks remain professional no bad vocabulary, wrong conduct, and dont bring your home life to work with you. Treat others with respect. It is surprising how well they ordain answer tag the efforts and achievements of others, staff or students, however sm exclusively. Give practical support when it is essentialed.Always avoid gossip, and negativity, within the work specify.1.2) Describe with examples how to behave appropriately for a chi ld or young persons stage of development. By the time the child/young person has reached the age range of key stages 3 4, they forget just around likely have a different style of communicating from stages 1-2. They may have a improve attention span, be fitted to immerse themselves in tasks for longer periods of time, and communicate somewhat their activities in a to a greater extent adult manner. At key stage 1-2 you can expect children to lose focus easily, with materialize being more interesting than class work, andthey will be far more excitable. It will be important to recognise, and line up, to each age level, and encourage behaviour that is expected at that age, and discourage behaviour that is not. As children age, it is inevitable that language will mystify slight produceal, and they may well be less free to contribute in a discussion, or speak out in class, due to heightened self-awareness, and less self-confidence.They will also start using different methods of communicating email, instant messaging, and social networks are becoming more and more common, with children as young as 5 having Facebook accounts and virtual profiles. An understanding of these technologies will be utilitarian to support children to apprehension out of danger. As a teaching assistant, it is important to attend to those who are less outgoing, and support them to confound themselves heard. You can do this by quietly encouraging them to put up their hit and answer a question, or even by setting them goals to speak up once a day. It is important to recognise each achievement of a child or young person, no outcome how small it seems to you, as it is likely that it would be a big accomplishment for them. Changing the style of language that you use will help interaction with different age ranges, but children and young people are eer conscious of how adults communicate with each other and it is this observation that teaches them for the future.1.3) Describe ho w to deal with disagreements amidst children and young people Disagreements between students (and staff) usually happen at either break, or lunch time. With any seam or disagreement, it is important to find out what happened. This includes each persons opinion of what happened, from the beginning, in their get words, and how it made them feel. Each person must feel that they have been listened to and understood, and that they have had a fair chance to say their piece. It may be that you get support from other members at this stage, especially if the debate has become heatedOnce all sides have been heard, you can decide how to progress. An apology may be needed from one party, or if a misunderstanding has taken place, it may be appropriate to sit eachone see together to discuss the incident as a group. It is important with all students that they understand the link between emotions and behaviour, and how their own behaviour can affect the others around them. By talking in groups , everyone can wield for how their own behaviours and emotions contribute to the well-being of the other students.1.4) Describe how ownbehavior couldPromote effective interactions with children and young peopleYour own behaviour, as a teaching assistant, can have a very positive affect and influence on the children and young people you help and support. If they see that you are being respectful, well-behaved and tolerant, listening attentively, being kind and understanding with the children and adults surrounding you, and that you are recognising their achievements and ideas, then children will hopefully, in incline value and respect one another. Impact negatively on the interactions with children and young people If children or young people see that you are rude to mortal, for example a member of staff not tell please or thank you, interjecting in conversation, or not paying attention when someone is talking to you, they may well think that these are acceptable behaviours. Ch ildren and young adults may also may not find you approachable, and not be so keen to come to you with their problems, issues or concerns.2.1)Describe how to establish respectful, professional relationships with adults Adults working within the education profession should expect an environment of mutual support, and openness. However, this is dependent on the attitude of each individual, and their commitment to maintaining positive relationships. Staff should work in a team there should be no lone working in schools, and the team should communicate positively with each other, parents, and professionals from outside the school. You will need to remain professional even outside of the education setting. For example, you might be out at the Christmas party, with friends, colleagues, or even parents of the children you support. You need to be trustworthy avoid talking about people in a negative way, this will only impact you negatively in return. Be respectful of others you not always see eye to eye with a colleague, but listening to what they have to say, and valuing their ideas and opinions helps keep communication open. at that place are varied ways and meaning of supporting individuals, but the PIPE acronym is a good way to remember the basicsPractical This may be as simple as helping someone who is unfamiliar with the class room layout or school surroundings, or assisting a disabled student to pilot a corridor Information You may be required to pass on material about a situation, or be asked to a write reports on the student you are supporting Professional This could be by helping the teacher or session leader with their lesson plan, or you may be asked if you can assist and observe a new member of staff Emotional This could be anything from supporting a student with an emotional situation, to talking to a colleague at lunch time about a stressful incident, or even just keeping a good sense of humour during a difficult time.2.2) Describe the importance of the adult relationship as a role models for children and young people Children will be leading by example, and will want to come to school if the environment is positive, constructive, and supportive. communication and support between team members should be practical, informative, professional, and emotional, and as a role model in the school environment, this should reflect in the relationships that that team has with students, and other adults. Whilst at work you must remember to leave your individual(prenominal) feelings, and home life, at home. However stressful life might be, the children and young people you support need your concentration and focus to enable them to achieve their goals. Negative behavior can impact those around you, and catch for an self-conscious working environment for all involved.3.1)Describe how communication with children and young people differs across different age ranges and stages of development Communication techniques will differ depending on the ages of the person. Young children will need more reassurance than fourth-year children, to undertake they feel safe, and are doing the right activity in the right way. Young children will be anxious to see their parents during the first term, often asking how long it will be until they can go home. Supporting them at this time is crucial, as it can make school a rewarding, exciting place if they are encouraged and nurtured in the right way. Teenagers will likely need more guidance, and some help to talk about their issues, problems and thoughts. TAs will need to adapt their vocabulary when talking to different age ranges, so that they can be understood. Communication can be verbal, nonverbal, informal and formal, as they learn to communicate and adapt using these different types of communication as they mature.3.2)Describe the main releases between communicating with adults and communicating with children and young people There are similarities between the age ranges, in ter ms of communication techniques, such as maintaining eye contact and interest, listening to what is being said and responding appropriately, and treating the student with the courtesy and respect that you would expect yourself. Always be clear with your dialogue dont use unnecessarily complicated language or sarcasm, make sure that what you have said has been understood, and keep your instructions clear and precise (no long lists), and always stay professional. However, there are differences between the communication techniques used for children and adults.For example, the relationship that you have with a child in the school setting is that of a carer, and may appear patronising if used on others. An approach that was favored in the classroom when supporting a student to understand a maths problem, may not be an appropriate approach when speaking with a colleague or co-worker. Children copy adult behaviours, so keep this in mind when communicating with them Show respect for your c olleagues and children will pick up on this, and show respect for their peers.Acknowledge the contributions of others, and say thank you, even if you dont always agree. opine that as an elder in the school environment, you will be looked to as a role model. 3.3)Identify examples of communication difficulties that may exist It is likely that communication difficulties will be encountered occasionally, within the school environment, but there are ways to avoid this happening. There are many, many examples of communication difficulties that could arise in the school environment, some examples of potential problems are speech delay impairmentWith any one of these examples, a care package/person centred support plan would accompany the student, and it is essential that all staff who work with them has lead and understood every element of it. 3.4)Describe how to adapt communication to meet different communication needs To support your students, and team, effectively, you will need to be constantly adapting your communication style. This will depend on the needs of the individual, and you will need to be aware of their potential problems. As a good teaching assistant, you should be able to quickly observe as assess the situation, in order to cope effectively and determine a positive result. You will need to detect any sensitivity in the student, and support them if they are restless or shy about speaking. Some examples of good communication are Speak slowly and clearly.Do not interrupt. However tempting it may be, the person needs the opportunity to speak without interjection. Arrange a translator in advance if required. Whether it is for a foreign language or signing, it is crucial that this be disposed(p) for, to spare the student and embarrassment or upset. Use different methods of communication if a student is assay with verbal instruction, get creative Use flash cards, drawings or hand signals Maintain eye contact, respond appropriately, and use positive b ody language. Be empathetic a child hearing the words I understand can be comforting and reassuring. Have respect for the speaker, dont allow yourself to be distracted by other conversations. These are the basics for communication with a child, young adult or colleague. In any situation communication can be adapted to be appropriate for the audience, such as Think about the situation or occasion, and with whom you are speaking.The context of your communication makes a difference both in the way you engage with others, and in the way they interpret your communication. To adapt effectively, you need to understand who you are talking with. See things from their view, and tailor your communication to them as much as possible, by using the razes above. Acknowledge that there are differences in personality, whether you are speaking with children are adults. Some children might esteem alight hearted approach, whereas the organise teacher will expect professionalism at all times.Be know ing with the language you use. Words can help you quickly connect with someone, but they may also demote them. A joke that was funny in the staff room may be wildly inappropriate in the classroom Avoid using sarcasm with children. It is generally considered as a negative form of humour, and may easily be misunderstood. Choose words based on the age, education, and literacy level of the person you are talking to. By assuming that someone understands the level at which you are speaking, you could easily offend them. 3.5)Describe how to deal with disagreements betweenThe practitioner and children and young peopleDealing with disagreements can be difficult. You cannot always say precisely what you are thinking, and in order to remain professional, you must always be polite, fair, and respectful. Disagreements and misunderstandings should be dealt with as shortly as possible, preferably with another adult as a mediator. When dealing with a disagreement or communication channel betwe en children, for example in the playground, you should not allow yourself to be drawn into any bickering. If the learner does not calm down, or is particularly defiant, it may be wise to take a time out from a difficult situation, in order to have the time and space to think about what has been said, and to calm down. You can then approach the situation logically and rationally, giving each side of the argument a chance to speak. It is important at this time that you remain supportive to each child, be polite, and sympathetic. The practitioner and other adultsIn a disagreement between colleagues, this kind of situation is unlikely to resolve itself if left, and it is uncomfortable to work in an atmosphere of tension. Bear in mind that this will soon be picked up by other staff and students. Avoid being drawn into disagreements, if they do not concern you, as this rarely has a good outcome and can often turn into negativity and gossip. Asking the advice of an indifferent adult can also help to get an unbiased review of the situation, and how to progress from it.4.1)Identify relevant heavy requirements and procedures covering confidentiality, data protection and the disclosure of information Whilst communication is the key to good relationships with students and colleagues, there are times wheninformation shouldnt be shared with others, and it is crucial to know who, and when, to pass it on to. The key people working with children in the school setting should have a good understanding of the flow rate laws and legislations that protect the children they support.These people are teachers, teaching assistants, healthcare staff (nurses) and any principals/head teachers. There are laws protecting children, and staff, with regards to safeguarding information. The main legislation that governs the safeguarding of materials is The Data Protection Act 1998. This ensures that relevant information is not passed on without take, and outlines what must be shared, in th e interests of child safety. There are eight principles, regarding the principles of practice or information, and these state that information should be used fairly and lawfullyAll data about an individual must be obtained fairly, and lawfully. The individual must be informed of the purposes that the information is being collected, and who is going to process it. The new Data Protection Act covers personal data in both manual and electronic form, import that emails are just as safe as paper files, and must be treated the same way. With information kept in electronic form, appropriate measures must be taken to keep it safe. musical composition a padlock may be sufficient for a filing cabinet, data encryption and unremitting back-ups may be required for information stored on acomputer. Under the Data Protection Act, all organisations that hold confidential information about individuals must be registered with the Information Commissioners Office. This helps to protect the informati on that is held, and ensure it is not shared unnecessarily. Training on safeguarding children is mandatory in the education setting, and this will provide all the information about the specific policies and procedures that apply to each school, and who to contact about concerns, or questions.Usually, the first point of contact for a concern or question would be the line manager, such as head of safeguarding or principal, or the Special Educational Needs Co-ordinator (SENCO). The individual who provided the information is also entitled to authentic rights, under the Data Protection Act 1998. Any individual can make an access gather up to view the information that is stored, and also to change, block or erase it. The information is also subject to protocols to ensure it is not used to cause damage or distress, or to make significant decisions, by means of an automated system. These guidelines, regulations and policies not only protect children within the education environment, but a lso staff. For example, at an question or hearing, everything that is said can be written down, and safely stored for reference, only being shared on a need to know basis. 4.2)Describe the importance of reassuring children, young people and adults of the confidentiality of shared information and the limits of this It is important to reassure children that they will stay safe, and that you will only repeat what they have told you to those who need to know.Parental consent is usually required before information can be shared however, if the pupil is at adventure of harm to themselves or others, confidentiality can be breached. In all situations, it is necessary to tell the pupil that you will not be able to maintain confidentiality, and that you will have to tell someone else. It is crucial to be educated in the policies and procedures of the individual school setting, and to know who to turn to, should the situation ever arise. 4.3)Identify the kinds of situations when confidential ity protocols must be breached There may be times when it is crucial for staff to know sensitive information about a student, for example, if they are suffering a health condition that could affect them in the classroom, such as asthma or epilepsy. In these circumstances, an agreed protocol would be set up within the school, and all staff would be trained on how to managesuch circumstances.The parents of the child must give consent for the information to be shared, and the staff must do everything in their power to protect the privacy of every child, and adult. It is also required for the school to have designated first aiders, and for the children/young adults to know who these people are, in aspect of an emergency. There are certain circumstances in which a practitioner can pass on the information to the relevant authority without permission. If you become aware of information which led you to a genuine incredulity that a child is being abused at home, then it would it be right for the responsible adult to pass on the information. The general rule is that if you believe a child to be at a significant risk of harm then you should pass on personal information to those who would be able to prevent harm. Every school will have policies and procedures that must be followed in these circumstances.