Health Policy Health Care Policy - 1241 Words

Health care Policy Health policy refers to the decisions, plans, and actions that are undertaken with the purpose of achieving specific healthcare goals within a certain society (Lindsay, 2005). According to the world health organization, an explicit health policy is capable of achieving several things. It states a vision for the future, which helps to establish targets for medium and short term. A brief history of universal healthcare efforts in the US In the 1800, the German and British systems were developed by governments in power as a defense to counter expansion of the socialist and labor parties. These governments used insurance against the cost of sickness in order to turn benevolence to power. The government of United States took no actions to subsidize voluntary funds. The federal government left matters to the states and voluntary and private programs (Lindsay, 2005). In the progressive era, President Roosevelt Theodore supported health insurance because he believed a strong nation needs well people. In 1906, the American association of labor legislation led the campaign for health insurance. Rhode Island congressional representative introduced new proposal in 1958 in order to cover hospital costs for old people on social security. Community Health Nurse Community health nurses have adapt to providing care to the public including churches, health clinics, shelters, the homeless and schools. Community health nurses provide comprehensive care to patients withinShow MoreRelatedHealth Care Policy Is An Anomaly Among Industrialized Nations Essay1580 Words   |  7 Pagesapproach to health care policy is an anomaly among industrialized nations. Disagreement about what the federal government’s role in health care ought to be, combined with the structure of lawmaking institutions, have yielded generations of improvised policies and programs that intend to mollify individual issues created by the health care system rather than comprehensively addressing its flaws. Following World War II, while most industrialized nations were creating national systems for health care in orderRead MoreHealth Care Policy1658 Words   |  7 PagesMedicare Policy Process Brandy Marsh HCS 455 December 12, 2011 John (Jay) Cutspec Medicare Policy Process The health care, policy-making process is composed of three major stages; the formulation stage, legislative stage, and the implementation stage. The policy process refers to the specific decisions and events that are required for a policy to be proposed, considered, and finally either implemented and/or set aside. It is an interactive process with multiple points of access providingRead MoreHealth Care Policy10795 Words   |  44 Pagesmillion people, will be without health care insurance because coverage will be too expensive (CQ Health beat News, 2005). The United States spends more money on health care than other industrialized nations but is the only one that doesn’t ensure health care coverage for all citizens. Every year, approximately 18,000 unnecessary deaths occur because of health insurance lacking in the United States, (Institute of Medicine [IOM], 2002). Proponents of universal health care coverage say this problem isRead MoreRole Of Policy On Health Care Essa y1094 Words   |  5 Pages Role of Policy in Health Care Student Name Institution Affiliation â€Æ' Role of Policy in Health Care Ek, R., Goolsby, L., Wengrovius, E. (2011).The national policy outlook for 2011. Policy Practice, 69(1), 16. The health care executives should actively coordinate in problem planning and preparation activities, striving to ensure that their exigency operations plan fits within the whole community plans and represents an accountable approach to the risks an organization might undergoRead MoreHealth Policy- Primary Health Care2490 Words   |  10 Pagesbetter future: Primary Health Care Primary health care is a term used to describe a system where a patient’s health care needs are attended to by the most appropriately trained individual. This method of health care delivery has been called a â€Å"team based approach† (Health Canada, 2006). Instead of seeing the doctor for every health concern, other health professionals such as nurse practitioners, pharmacists, dieticians or physiotherapists may be called upon to take care of your concerns. In thisRead MoreHealthcare And Health Care Policies1627 Words   |  7 PagesI have learned a plethora of critical and important information regarding healthcare and health care policies in the United States and in the world while I took UC 105 and 106 as part of the Health Sciences Scholars Program. One of the topics that stuck out to me the most during the lecture was the topic of constrained choice. For me, this topic really resonated with me since I understood some of the constrained choices and decisions tha t many Americans have to go through on a daily basis. I alsoRead MoreThe Health Care System And Its Policies862 Words   |  4 PagesI think the number one challenge facing the United States of America today is our health care system and its policies. Before talk about the issues we face today, we must talk about how it is formed and its components. The healthcare system in USA is a mix of private and public components. Almost all healthcare facilities are owned and controlled by private sector. Some hospitals are non-profit, others are owned by the government and others are run by private organizations. Between 60-70% are non-profitRead MoreIssues In Health Care Policy1452 Words   |  6 PagesHealth care improvements in the United States can be accomplished in several ways including the implementation of health care policies. Health care policies are often comprised of rules, guidelines and actions set forth to improve certain health care issues (Health policy, 2017). During t he policy formation process agenda are set outlining the issues to be addressed in the policy. 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The Importance of Training to Quality Free Essays

string(137) " must encourage employees to initiate process improvements and new ways of responding to customers’ needs – but in a controlled way\." Introduction Many theorists have suggested that it is crucial to adequately train stuff in order to improve the overall quality of the service or product offered. Today employers are increasingly depending on the skills of all their employees for improvements in efficiency, quality and customer service (Motwani, Frahm, Kathawala, 1994a). This review will focus on the findings of the main theorists in the quality management field and their views on the importance of employee training. We will write a custom essay sample on The Importance of Training to Quality or any similar topic only for you Order Now It will outline the factors which influence employee training and suggest how quality training should be implemented. The review will also provide some insight into alternative methods of quality employee training. The Importance of Training to Quality Motwani, Frahm, Kathawala (1994b) state that training is the critical variable in the success or failure of a company’s quality improvement programme. They go on to say that training enables a company’s workforce to acquire the skills needed to improve and maintain the quality production process. As the challenge of improving product and service quality becomes more important for all organizations so does the challenge to the training and development profession (Motwani, et al. 1994a). Motwani, et al. , (1994a) agree with other authors such as Cocheu (1992) and Ishikawa (1976), that quality begins and ends with training. According to Kaeter and Cothran (1992), training influences the process that help to improve quality. Ishikawa (1976) who has been a leader in stressing employee participation and the man who advocated the use of cause and effect diagrams (also known as ishikawa diagrams) to diagnose quality problems, has stressed that it is crucial to train managers and employees to improve quality. Deming (1982) notes that all employees should be trained continually as the needs of the customers are constantly changing over time. It is not enough to hire good people for the business organisation. They constantly have to acquire new skills for new materials and new methods of production. Deming (1982) considers training to be a long-term investment in people and the future of the company. Continuous training helps employees to improve their quality performance and the quality of the work processes they are responsible for (Deming 1982). When identifying key practices of quality management, most authors agree that training is an important factor. Saraph, Benson Schroeder (1989) list training as one of the eight critical factors of quality management. Lakhal, Pasin, Limam (2006) go on to state that employee training and employee participation are two of the eight critical factors of quality management. Eight key employee practices to improve quality have also been suggested by Smith (2001) and they are: recruiting, selection, retention, teamwork, training and development, appraisal, rewarding quality and employee involvement. Just knowing that training is important is not enough; training must also be effective (Cocheu, 1992). Cocheu (1992) proposes that to improve quality, organizations can use a six-step strategy, which includes: 1. Preparation, 2. Planning, 3. Awareness, 4. Deployment, 5. Implementation, and 6. Continuous improvement. This strategy should be supported by a six-phase training approach: 1. Understanding and commitment, 2. Quality management systems, 3. Improvement teams, 4. Customer service, 5. Process improvement, and 6. Advanced quantitative methods. Each phase of the quality training curriculum should build on the preceding hase of the training to give people at every level of the organization the knowledge and skills they will need. This includes both the employees and the management. (Cocheu, 1992) The Importance of Management to Training Most authors agree that quality management is crucial for the successful training of the employees. Without the wholehearted commitment of top man agement, spending time on quality training is pointless. Employees look to management to see if a company is really serious about quality training. If the management does not commit itself to change than the workers will not do so either (Motwani, et al. 1994b). Successful implementation of any change programme requires proper education and training of those who would be involved in the implementation process (Ernest Osseo-Asare Jr Longbottom, 2002). Management needs to be sincere and to devote adequate time and resources to the on-site training effort so that employees believe it is important. Whether on-site or off-site training is employed, the skills learned by employees need to be applied immediately. If this is done, employees will receive the quality message (Motwani, et al. , 1994b). Anjard (1995) argues that it is no longer a luxury or a question as to whether Total Quality Management (TQM) philosophy should be adopted. He states that â€Å"unless we adopt the concepts of continuous improvement, we are guaranteeing organizational obsolescence†. TQM is a visionary movement which represents a final recognition of a management philosophy that encourages employees to share responsibility for delivering quality services and products. Commitment from the top as well as a willingness to transform an organization from the bottom up is essential for effective implementation. More importantly Anjard (1995), goes on to say that effective TQM managers lead, coach and mentor amongst other things and that managers must train everyone and provide them with the knowledge, skills and tools needed for continuous quality improvement. Mathews, et al. (2001) add that the training that underpins quality management determines the likely effectiveness of the quality initiatives undertaken. Quality is achieved where employee satisfaction results from high-quality management, which places great importance on employee motivation and morale (Crome, 1998). Clear objectives in line with vision should be shared with staff through proactive leadership, highlighting areas that work well, creating champions of good practice and being supportive and motivational (Curry Lyon, 2008). Donaldson (2004) states that achieving true quality takes much more than just learning the basic skills and technical concepts, you also have to get the human element right. This means providing education and training opportunities for all involved, plus support and empowerment from above. The author adds that emphasis should be placed on employee empowerment and training to improve quality of service. Bharadwaj Karkera (2001) add that it is not realistic to think that mangers can achieve control by simply hiring good people, aligning incentives and hoping for the best. Today’s managers must encourage employees to initiate process improvements and new ways of responding to customers’ needs – but in a controlled way. You read "The Importance of Training to Quality" in category "Papers" Also, the employees must be told specifically what is expected of them. Specific training makes employees more confident and reduces staff turnover rates. This in turn increases quality (Pollitt, 2006). Smith (2001) agrees and states that employee involvement is positively linked with improved quality. As a result of this employee empowerment, some trainers responsible for self-guidance of the development process, become concerned that the philosophy implies their role within the organization will eventually become redundant. Quality control managers have subsequently discovered that the move to TQM has not reduced the importance of their job role. In fact, quite the reverse is usually the case because the quality manager’s new responsibilities as quality facilitator and mentor across all aspects of the organization’s activities is inevitably more rewarding and demanding than their old role of â€Å"organizational gamekeeper† (Chaston, 1994). Many companies have established written quality requirements for the products that they produce but few have developed internal requirements that must be met as process flows from one operation to another. Still fewer have developed requirements for the process itself – what must be done in what order to produce a conforming output (Oversmith, 1990). The author stresses the importance of using recognition systems that encourage participation and the involvement of employees in the quality process. Oversmith (1990) adds that companies achieve quality by making every single employee a â€Å"quality manager†. Each employee has to know what part they are playing in the quality improvement process. It begins when the employee is orientated into the company. The employee learns the requirements expected of all employees as well as the specific requirements for the job to be performed. This initial training should be followed up within the first few weeks of employment by formal quality education to stress the importance of the individual’s role in the quality improvement process as well as specific actions an employee is expected to take to avoid or eliminate quality nonconformance (Oversmith, 1990). Formal training in group problem solving and the proper use of teams to eliminate quality problems further prepares an employee to participate in improvement process. Smith (2001) also agrees that team based learning is important and suggests that incentives should be used to promote quality. Incentives for Quality and Alternative Methods of Training In order for the employees to use their training and improve the quality of the products/services, the management must provide them with incentives. If valued incentives exist for desired behavior, training that enables such behavior is likely to succeed as well: Many people receive a fixed amount of pay for the hours they work. They will not make more money immediately if they do a better job and they will not receive less, unless they are fired, for doing a poorer job. So, for these people, pay is an incentive for being present and for doing a minimally acceptable job – and not much more than that. Fortunately for employers, other incentives exist: approval and compliments, respect and trust, access to valued resources – tools, people, a window with a sunny view, awards, increased power and authority, more interesting or desirable assignments (Allen, 2003). Allen (2003) suggests that employers consider providing meaningful and memorable experiences through interactive multimedia to help employees see how the impact of their work determines the success of the group and ultimately affects quality. Burns (2005) suggests use of e-learning to train employees to improve quality. The key being interactivity. E-learning provides the potential to bring quality to life. When people are having fun, they won’t realize how much they are learning. If the average employee doesn’t enjoy learning he or she won’t absorb much about quality. Computers allow simulations to be built as an aid to learning and this is very relevant in lean Six Sigma training where factors such as throughput, work in progress, touch time and cycle time interact could be difficult to demonstrate. This would not just be effective but it will also be more enjoyable and people learn better when they are enjoying the learning experience (Pollitt, 2007). Pattison (2001) agrees that activities and interactivity make learning and training more enjoyable. Burns (2005) adds that humor is another means of providing motivation to learn about quality. Conclusion Upon review of literature on the importance of training to product and service quality it is evident that staff training is a vital part of any quality process. Quality products and services depend on a quality workforce. In order to sustain competitive advantage companies need to develop and implement quality training measures. A strong support from management is needed to constantly motivate and facilitate the employees training. Investing in employees training directly correlates with how the quality of the company’s products and services is viewed. If training continues to improve, if it continues to reinforce quality messages, then employees will believe quality truly is the foundation of their company’s long term culture. References Allen, M. (2003). Training rewards good performance. Quality, 42, 28-29. Anjard, R. P. (1995). Keys to successful TQM training and implementation. Training for Quality, 3(1), 14–22. Bharadwaj, G. , Karkera, R. (2001). Employee training in quality in the new millennium. Quality Congress. ASQ’s †¦ Annual Quality Congress Proceedings, 517-528. Burns, T. (2005). E-Learning: The Future of Quality Training. Quality Progress, 38(2), 50-56. Chaston, I. (1994). Managing for Total Training Quality. Training for Quality, 2(3), 11-14. Cocheu, T. (1992). Training with Quality. Training Development, 46(5), 10. Crome, M. (1998). Call centres: battery farming or free range? Industrial and Commercial Training, 30(4), 137. Curry, A. , Lyon, W. (2008). Call centre service quality for the public: a Scottish framework for the future. Managing Service Quality, 18(2), 194-208. Deming, W. E. (1982). Quality, Productivity and Competitive Position. Cambridge: MIT Press. Donaldson, D. P. (2004). Getting the People Part Right. Quality Progress, 37(7), 6. Ernest Osseo-Asare Jr, Longbottom, D. (2002). The need for education and training in the use of EGQM model for quality management in UK higher education insitutions. Quality Assuarance in Education 10(1), 26-36. Ishikawa, K. (1976). Guide to quality control. Tokyo: Asian Productivity Organisation. Kaeter, M. , Cothran, T. (1992). Pioneering Quality Training. Training(April 1992), 13-18. Lakhal, L. , Pasin, F. , Limam, M. (2006). Quality management practices and their impact on performance. International Journal of Quality Reliability Management, 23(6), 625-646. Mathews, B. P. , Ueno, A. , Periera, Z. L. , Silva, G. , Kekale, T. , Repka, M. (2001). Quality training: findings from a European survey. The TQM Magazine, 13(1), 61-68. Motwani, J. G. , Frahm, M. L. , Kathawala, Y. (1994a). Achieving a Competitive Advantage through Quality Training. Training for Quality, 2(1), 35-40. Motwani, J. G. , Frahm, M. L. , Kathawala, Y. (1994b). Quality Training The Key to Quality Improvement Training for Quality 2(2), 7-12. Oversmith, G. E. (1990). Developing Employee Ownership of the Quality Improvement Process. Hospital Materiel Management Quarterly;, 12(1), 38-45. Pattison, S. A. (2001). Staff meetings: an opportunity for accelerated training of employees. Journal of Workplace Learning, 13(4), 172 ±178. Pollitt, D. (2006). Holiday Extras is flying high Call-center training improves call time, quality and staff retention. Human Resource Management International Digest, 14(7), 22-24. Pollitt, D. (2007). ING Direct banks on the quality of its call centre employees. Training Management Development Methods 21(4), 579-582. Smith, W. L. (2001). Customer service call centers: managing rapid personnel changes. Human Systems Management, 20 123–129. How to cite The Importance of Training to Quality, Papers

Carmex case study free essay sample

1. a. the Advantages and disadvantages for the Carmex Marketing Team in collecting data to narrow the flavor choices from three to two using an online survey of a cross- section of internet Households are : AdvantagesDisadvantages 1. This is a way of marketing research tool. 2. May Gain a new Likes to the Brand. 3. Increase Carmex brand name known ability. 4. Survey over the internet will be less cost. 5. Encourage the new customers to give it a try as internet households interested in online coupons and products ads and etc,. 1. Has a very broad Segment to target that may end up but not giving the answers they needs. 2. Household may not like to complete a survey that involves writing their names and giving out their personal details. 3. The results will not be accurate enough to build a marketing research â€Å"in a result of inaccurate segmentation†. 4. Takes lot of time â€Å"time consuming†. 1. b. the Advantages for the Carmex Marketing team in collecting data to narrow the Flavor Choices from three to two using an online survey of Carmex Facebook Likers. We will write a custom essay sample on Carmex case study or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page AdvantagesDisadvantages 1. Facebook is not just a social media but it is a marketing research tool. 2. Help to Target Exactly their Marketing Segment. 3. Receive Answers that are accurate that doesn’t have to be filtered later â€Å"on our Consumers or not consumer basis†. 4. Increase the interactivity between Carmex Brand and Its consumers†likers†. 5. Carmex will receive the Answers very quickly â€Å"within 5 minutes Carmex will receive dozen votes and, by the end of the business day Carmex can very easily have over 500 Responses. Accordingly to the Textbook. 6. This will help to increase the likers engagement. 7. This is an opportunity to increase Facebook community or potentially. †Gerst Adds in textbook. 8. Reduces the cost of the marketing research to find the 2 favorable flavors. 1. Consumers can be less likely to respond to a survey that has to enter data or writing statements. They prefer multiple choice styles of surveys. 2. May not receive a very accurate number of responses as not all the number of the likers are the number of the engaged customers that will respond to the survey, unless they do the contest +poll. 3. Survey on Facebook only will not drive new Likers to Carmex Facebook page. Answers of Question # 2: a. The engagement and likes are really measuring: â€Å"Engagement† measures how ACTIVE its Facebook Audience with the brand. â€Å"Likers† are the NEW â€Å" likers† to the brand’s Facebook Page. b. For Carmex the more important is the â€Å"Engagement â€Å" , because at any time Carmex likers can posts a comment on the Carmex wall, likes its status , or replies to one of its posts, the engagement level increases. The easiest way for Carmex to grow the number of â€Å"likes†on its facebook page its through contests and promotions. If it gives away prizes, people will be drawn to its site and its likes will increase . However these people may not actually be fans of the Carmex product so at the end of the promotion they may unlike Carmex or they may remain fans but not engage with the Carmex page at all . the people who were already on the page were there because they like Carmex and are engaged . According to the textbook. That’s why the engagement is more important to Carmex than Likes. Answer of question # 3: a. The Consumer Engagement on a brand page on Facebook is evoked by the â€Å" Engagement Strategy using a poll as consumers get engaged to a page Brand such as Carmex when the brand make polls to know their opinion , As where more Votes means more Engagement . According to figure 2 in textbook. b. The consumers get attracted to like a brand Facebook page by Contests, Promotions and prizes that the brand page give it away to the Likers and this techniques is used to get a new customers to like the page Answer to Question # 4: a. The Advantages of using a fixed – alternative poll question on facebook are : oThis is quick. oAnonymous oAnd will lead to more people to vote b. The open- ended questions is better to be used when a company has a new product to launch and need their consumer opinion as this type of question is used to distinguish purposes and require the marketer â€Å"evaluator† to interpret and analyze date in different ways. Answer to Question # 5: a. If I had a limited budget and two weeks to decide which two flavors to put into Quantitative testing, I would have chosen the â€Å"poll Only â€Å" for 3 reasons: 1. Poll strategy is faster than others 2. Less cost than the contest strategy. 3. Increase the Engagement between the consumers and the brand b. If I had a sizable budget and two months to make the same decision I would have chosen the combined strategy â€Å"use the poll and contest â€Å"as a marketer what i need is to increase engagement to my brand and to increase the Likers as well. So by using this strategy I will reach both by posts the poll question on the Facebook page wall I will drive the engagement and by creating a contest for a limited edition flavor will promote new likes.

What Difference Does It Make That God Is Immutable Essays

What Difference Does It Make That God Is Immutable? Doug Friesen TH211: Systematic Theology Shane Keating What difference does it make to us that God is immutable? Immutability is a key attribute of God and without that He wouldn't even be God. It would be hard to have a personal relation ship with Him. As well as our relationship suffering our knowledge of God would be severed also, and who is to say if our salvation would be as secure today? But first to understand completely what is in question we must define immutability and come to a conclusion as per its reference to God. Immutability defined in Webster's Dictionary is quoted as, "unchangeable; unalterable" . The same word defined in Unger's Bible Dictionary states, " The divine attribute of unchangeableness" . Again defined in Nave's Topical Bible, " the perfection of God by which He is devoid of all change in essence, attributes, consciousness, will, and promises" . In all three instances, secular and religious, the word is clarified as unchangeable, but only one gave it as an attribute of God. Now as a back up point to clarify, immutability declares that God is unchanging, but it is not to be confused with immobility. God acts, and His actions vary with reference to different ends. His affection changes according to how that person's attitude changes toward Him. So gathered from that we can state God is constantly the same in His essence, in the mode of His existence, in His perfections, and in the principles of His administration. Now that we have come to a conclusion on what the immutability of G od is we can ask ourselves what it would be like if He weren't immutable? If God were not immutable He wouldn't even be God. Just like all the other attributes of God place Him high above all else so does immutability. To state the fact that God is unchanging helps to create a foundation on which we can base other claims to our belief, such as the truth of God and imperfection. God with out this unchanging attribute is now given in to human likeness and that includes sin. He could change His ways to appeal to Him what ever He desired without any cares about man because when you remove immutability you remove the possibility of Him possessing benevolence or righteousness. If you remove the truth and benevolence of God you are left with imperfection. It is a big cycle with attributes, once one is removed they all may collapse without definite proof or backing. So lets look and see what a God without immutability would seem like. Well the attribute of immutability is essential the deity of God. "To think of God otherwise than as unchangeable is to think of Him otherwise than perfect" . With that said we must then ask how does that effect my relationship with God? Well if God were not immutable our relationship would definitely suffer. We wouldn't know first of all how to talk to Him because His attitude would be like ours and half the time I don't even know how to talk to others because of their attitudes. Imagine a God with stress. I mean how could we as puny humans be able to deal with a God who has drastic mood swings. We would all be busy hiding from God unknowing if this is the day He enjoys our company or not. Basically our relationship would be brought down from the level it is now with a loving Creator who saved His creation, to a High Commander and His miniscule microscopic beings, who better not make Him mad. But now to answer the question from the quote above, what if God isn't perfect, how do we k now our God isn't changing? If you look in Psalms 102:26-27 He tells us, "They will perish but You will endure; Yes, all of them will grow old like a garment; Like a cloak You will change them, And they will be changed. But You are the same, And Your years have no end." This passage shows us that our God is unchanging, but also that He has control over all things changing and that He changes them.

Evaluation of Properties of Foods

Evaluation of Properties of Foods Practical 1: Evaluation of Properties of Foods 1A) pHObjective:To determine the pH value of orange juice.Introduction:pH is a measure of the acidity or basicity of an aqueous solution. pH is an important aspect that is being inspected in food processing and food preservation. pH control method is one of the method used by food manufacturers to prevent growth of microorganisms in food that will eventually cause early food spoilage and food contamination. Most foodborne pathogens cannot grow below pH 4.4 (Montville, Matthews Kneil, 2012). Most microorganisms grow best in the pH range of 6.5 to 7.5 (Ministry of Agriculture, Food and Rural Affairs of Ontario 2013). Hence, pH level of food is being monitored during food processing to prevent microbial growth. pH levels also affect the appearance, taste, quality as well as the shelf-life of food products. It is also under the food safety issues.One example of pH control requirements is in the manufacture of fruit jelly. The gel formation brought about by pectin takes place over a narrow pH range, which is further complicated by sugar concentration. High pH value results in an unacceptable liquid. Too low pH causes the mixture to gel prematurely, resulting in an overly hard product. Continuous pH adjustment using acids such as citric acid yields the optimal gel consistency. Another example of pH control would be in the making of cheese. The enzymes used are particularly sensitive to pH. variations of 0.1 pH will affect the enzymatic reaction activity by as much as 50 per cent. However, modern technologies allow cheese ageing process to be accurately monitored by using the puncture probe. pH meter with resolution of 0.1 pH unit is the most common equipment that is used in food industry to measure the pH levels...

Finance report Assignment Example | Topics and Well Written Essays - 7500 words

Finance report - Assignment Example Ratio analysis is done to compare the performance of FHL with its major competitor, Harvey Norman. Profitability, Asset efficiency, Liquidity, Capital structure, and Market performance ratios are calculated for both the companies and performance of the two companies is analyzed in the light of these ratios. Some of the limitations of the analysis are identified, conclusions are drawn and recommendations are given on the basis of the analysis done on FHL. Financial statements include at least two accounting statements that are prepared by a company at the end of its accounting period. These two include Income statement and balance sheet and these statements of Fantastic Holdings LTD (FHL) are analyzed in this report. Financial statement analysis of a company is extremely important for a company so that it can reflect upon performance of the company and can add meaning to the figures of the financial statements. Financial statement analysis involves evaluating three characteristics: profitability, liquidity and solvency. A short term lender will be interested in the liquidity of the company which measures the efficiency of the companies to pay their obligations when they are due. A long term creditor would assess the profitability and solvency of the company which measures the long term standing of the company. Hence financial statement analysis is extremely important for the company as well as for the users of the financial statements. Comparisons can be made on the intra company basis, industry averages and inter company basis. Vertical analysis is done to make intra company comparisons and ratio analysis is done to make inter company comparisons. In this report, both comparisons are made. Intra company analysis is done using vertical and trend analysis and inter company analysis is done through ratio analysis of Fantastic Holdings Ltd and Harvey Norman Holdings Ltd. Through the analysis, conclusions will be drawn regarding the performance of FHL from

Managemnent psychology Essay Example | Topics and Well Written Essays - 2750 words

Managemnent psychology - Essay Example He further asserts that management psychology focus is basically on individuals and groups. In this particular issue, character is often used to define an individual’s personality. Personality can be attributed to individuality in the context of one’s internal states that manifests in the form of feelings and thoughts. It is also related to the attributions that cause an individual to behave in a certain manner, as well as, the ‘experienced stable core’ of an individual. In addition, it also entails how an individual interacts with other people in a social set up. There are tests and surveys in psychology that conceptualizes and classifies some aspects of workers’ selves. The sole purpose of these tests/surveys is to predict behavior, emotions and attitudes of employees and to provide a platform for their management (Alvesson & Willmott, 1996). Evidently, personality can be viewed in terms of ideologies, interaction, and context in question. In the 20th century, psychology surfaced as a tool and technique in the managerial skills. It was characterized by rationality in governance in terms of logics; increased means utilization throug h instrumental focus; and focus on work design, as well as, the organization. The traditional forms of authority where leadership was determined by social status and class were replaced. People began perceiving management as a form of profession. The impact of this phenomenon was that since it was viewed as a distinct occupation, the notion of competence was embedded into management. Individual knowledge-based was embraced in the context of economics, ergonomics, studies on time and motion, and industrial psychology (Thompson & Ackroyd, 1995). This contributed to the guidelines for roles in supervision which later incorporated social abilities. The supervisory mandates included literacy, technical skills, analytical, and numeracy skills. Feelings as an aspects that define