Assignment - Team Work in Business Essay Example for Free

Assignment Team Work in Business Essay Some management teams are bound to succeed while other are not due to a number of factors. A team, according to Adair (1986), is more than just a group with a common aim. It is a group in which the contributions of individuals are seen as complementary. Collaboration, working together, is the keynote of a team activity. Adair suggests that the test of an effective team is: â€Å"whether its members can work as a team while they are apart, contributing to a sequence of activities rather than to a common task, which requires their presence in one place and at one time. † Below is a discussion of some of the major factors that create a difference between winning and losing management teams . 1. Supportive Sponsor Management teams are usually formed by a sponsor who recognizes that reaching an organizational goal will require a group of individuals working together to provide the leadership necessary to move a company, division or unit towards the organizations goals. It is the sponsor’s responsibility to create a ‘charter’ that establishes the management team and its primary focus. In addition, the sponsor establishes specific goals the team is to accomplish. The sponsor will also select the team leader and gain his or her commitment to lead the leadership team in defining and carrying out the needed actions. Lack of will or proper direction by the sponsor ( e. g board of directors in a company) can lead to team failure. 2. Environmental factors These include physical factors such as working proximity, plant or office layout. In general, close proximity aids group identity and loyalty, and distance reduces them. Other environmental issues include the traditions of the organisation under which the management team operates, and leadership styles. Formal organisations tend to adopt formal group practices. Autocratic leadership styles prefer group activities to be directed. 3. Team size Small groups tend to be more cohesive than larger groups; small groups tend to encourage full participation; large groups contain greater diversity of talent. 4. Focus on Stakeholder Outcomes A shared understanding of the management team’s stakeholders, their expectations of the team, and the values the team embraces is essential to create the focus needed as the management team members plan and execute the actions necessary to achieve the team’s goals. 5. Smart Goals Specific, measurable, achievable, realistic and time-bound goals should be established by the team’s sponsor and then broken into sub-goals by the management team. Without SMART goals, the team will lack the milestones necessary to drive action. 6. Team Leadership Team leadership is the most critical success factor for the performance management team. A leader with strong performance management skills and the ability to develop others virtually guarantees a successful performance initiative. Every management team needs a leader who focuses the members of the team on the mission, purpose, and goals of the team. This individual must be committed to the team’s results and must be willing to be held accountable by the team’s sponsor and other stakeholders, for leading the team through processes that insure the team’s goals are reached. The team leader must engage each team member in the processes of the team and build a platform of mutual trust that leads to open debate, collaboration, individual commitment, and personal accountability. 7. Mutual Trust The most important element of successful team work is the establishment of a platform of mutual trust that enables the management team to engage in open debate and decision making that leads to commitments to action by individual members of the team. Building this trust requires an openness that allows team members to know and understand the beliefs and behaviors of all members of the team so that team actions can be structured to take advantage of each members uniqueness and talents. Behavioral and values assessments are powerful tools in developing an understanding how each member of the management team views themselves and responds to others in the team. 8. Engaged Management Team Members An effective management team will have team members who are actively engaged in the work and focus of the team. This will require that each team member emotionally commits to actively and openly participate in the team’s processes in the pursuit of the team’s goals. The team member must willingly commit to carry out action plans to complete individual actions necessary for the team to reach their team goals. The team member must be dependable and carry the full weight of personal responsibility to complete their individual commitments by the date committed to. Engaged team members enthusiastically support each other and add value to other team members. They prepare for team processes and choose to engage others in a positive manner to find solutions to issues and challenges they individually or as a team face. They constantly seek to improve themselves for the benefit of the team and never, never, never quit. 9. Composition of the Team The Apollo Syndrome is a phenomenon that having too many people with a high mental abilities grouped together to solve a problem is, in many instances, detrimental to the teamwork process. Team members spend much of their time trying to persuade the team to adopt their own views as well as figuring out ways to point out weaknesses in the rest of the team’s ideas. They have difficulty reaching consensus in decisions and are focused on their own work, paying little attention to what their fellow team members agree doing. Occasionally the team will pick up on the fact they are having problems, but will then overcompensate to avoid confrontation. This leads to even more problems in making sound decisions. A knowledgeable team, skilled at group working, and with a wider range of talents is much more likely to succeed than an inexperienced group with a narrow range of talents. 10. Individual Commitments The work of a management team is carried out by individual members of the team. When a team has developed a plan of actions that are necessary to achieve their goals or overcome barriers, individual members must commit to carrying out specific actions which in many cases will include actions by the individual teams they in turn lead. The management teams collaborative processes must include steps to: * Define individual actions, * Gain the commitments by individual team members to complete the actions, * Document due dates, and * Establish status reporting processes. 11. Discipline and Accountability Team goals will usually not be realized until individual commitments are completed. Management team members must embrace a discipline to complete their commitments as scheduled. They must agree to hold each other personally accountable for completing, as scheduled, the commitments each person has made to the team. Each management team member must continuously report the status of their open commitments to the team so that barriers to completion can be identified early in order to permit the management team leader and other team members the opportunity to deal with the issues before overall deadlines are impacted. 12. Identification and Removal of Barriers Barriers to team and individual progress will occur in every management team effort and must be dealt with quickly to continue progress towards the teams goals. The team leader must continuously monitor the status of each individuals commitments and initiate barrier removal processes where appropriate. Team-based processes for developing action plans to overcome barriers impacting individual commitments should be instilled as a part of the teams culture. 13. Shared vision / approach. The ability for a management team to clearly state its goals and objectives and gain buy-in among the people they lead ( e. g. employees )along with a synergistic team that can carry out their responsibilities is vital to performance success. The vision and/or mission of the team must be accepted by all the team members and critical goals viewed as the collective responsibility of the team. If a return to profitability is a critical goal of an executive team, priorities and time commitments must be pulled from elsewhere. Focusing on results that in any way does not support the critical goal(s) of the team will lead to team failure. 14. Technology support While a skilled management team can improve performance with very little tools and only an effective approach, with proper technology to support the teams needs, and the proper data to drive decision making, there is almost no limit to the improvements an organization will yield. 15. Ability to Innovate Innovating is a key aspect of teamwork and involves challenging the way things are currently being done. Technology is changing so quickly that the way you are currently performing tasks may no longer be the best way. If you are not up-to-date in your practices, your cost structure may be too high or you may no longer be delivering competitive service. Innovating is essential for all work teams. There are always better ways of doing things if you only take time to discover them. 16. Promoting To obtain the resources people, money, and equipment to carry out your work, you have to sell what you are doing to other people. Resources to implement new ideas will only be given if your team can persuade and influence people higher in the organization. Promoting to customers or clients both inside or outside the organization is also important if you are to continually deliver what people want. 17. Developing Many ideas dont see the light of day because they are impractical. The Developing activity ensures that your ideas are molded and shaped to meet the needs of your customers, clients, or users. It involves listening to their needs and incorporating these in your plans. Developing will ensure that what you are trying to do is possible, given the resource constraints of your organization. 18. Inspecting Maintenance Regular checks on work activities are essential to ensure that mistakes are not made. Quality audits of your products or services will ensure that your customers or clients will remain satisfied. Inspecting also covers the financial aspect of work in your team, as well as the security aspects, the safety aspects and the legal aspects. All management teams need to uphold standards and maintain effective work processes. Your car will fail if it does not have its regular service. Teams can fail too, if the team processes are not regularly checked and maintained. Maintaining ensures that quality standards are upheld and that regular reviews of team effectiveness take place. 19. Linking Linking is the activity that ensures all team members pull together, and makes the difference between a group of individuals and a highly effective and efficient team. It covers the linking of people, linking of tasks and leadership linking.

Evaluation of Deforestation in the Brazilian Amazon Essay -- Deforestat

Nowadays deforestation is the one of the most destructive and controversial environmental issues. Deforestation is defined as cutting down, clearing away or burning trees or forests. Particularly tropical rainforests are the most destructed type of forests because of its location in developing countries such as Indonesia, the Philippines, India, central African countries and Brazil. Deforestation rate in those places is high enough to worry about, because of good economic potential of forests. As the result of causes such as agriculture land expansion, logging for timber, fire blazing and settling infrastructure there might be serious impacts in future, for instance, extinction of endemic species of animals and plants which will be feral, increase of greenhouse gas emissions which may lead to global warming and consecutive catastrophes, destruction of home for indigenous dwellers which is considered as violation of human rights. Some people can argue with this drawbacks telling that deforestation have more valuable benefits such as growth of economics, production of food and providing better opportunities for life for poor families. However, government of that countries and world organisations tries to stop deforestation proposing several solutions. Deforestation problem is especially acute in Brazilian Amazon, where its rate is much high comparing with other regions. This paper will rigorously describe causes and effects of deforestation, and evaluate possible solutions of deforestation in the Brazilian Amazon. Tropical rainforests which is located between tropic of Capricorn and tropic of Cancer covered 12% of land surface few thousand years ago. However, today is it covers only 5% of planet. In spite of this small area, it is... ...ious environmental problem with some significant ecological consequences such as global warming and loss of rich biodiversity and with some economic benefits which are just temporary. These actions against nature must be stopped, and I am recommending that all of us, starting from simple people and ending with government must solve this problem together. Simple human can donate some money which is not sufficient at the moment, businessmen again can help with money, global organisations can provide volunteers and donated money and government can make huge investments, enforce more strict laws, cleared from corruption and try to strictly secure whole Amazon with strict punishments for criminals. In addition, there are recommendations of further research in improving agriculture and finding more sustainable nutrients which would allow using lands for longer period.

Disparities Essay

Reducing Disparities Discuss the different ways in which disparities can be reduced with an emphasis on the following: Trade and market access Debt Relief Aid Remittances A Joint report by students. This report has been compiled by all 1B Geography students and aims to form a case study of how the global disparities as highlighted in the Millennium Development Goals are being reduced. Each student has contributed to their own section of the document and work should be checked by others for accuracy and reliability. It is after all a case study that will be used in the final examinations. What are the global disparities? Disparities exist within development patterns on a global scale. There is an increasing gap between the world’s richest and poorest countries due to factors such as globalization and increased consumerism. Disparities exist and can be measured using indices of infant mortality, education, nutrition, income and the Human Development Index. Disparities exist within countries resulting from ethnicity, residence, parental education, income, employment and land ownership. These disparities have long been recognized and the world has started to act (some might say too late) to try to reduce them. The biggest scheme to date has been the implementation and global promotion of the Millennium Development Goals. These eight key goals were set in the year 2000 and aim to tackle the main problems associated with poverty, education and health worldwide. These Goals are actively being worked towards with a final deadline of 201 5 for stage one targets. Many millions of people have been made aware of these goals directly and indirectly using campaigns such as Make Poverty History, Live8, The Red Appeal and The Girl Effect to name but a few. This piece of work will discuss the different ways in which these isparities can be reduced and evaluate the strategies that have already been implemented. Mr Podbury. 2013. Chapter 1 (Students; Angus and Kathrin) Introduction to, Trade and Market Access – Case Study Fairtrade in Africa. Introduction to Fairtrade -Trade between companies in developed countries and producers in developing countries in which fair prices are paid to the producers. Google) What it hopes to achieve -To work with businesses, community groups and individuals to improve the trading position of producer organisations in the south to deliver sustainable livelihoods to farmers, workers and their communities. How does it work? -They do this by being a passionate and ambitious development organization committed to tack ling poverty and injustice through trade. -Proving an independent certification of the trade chain

Merchant of Venice - Plot Structure - 1714 Words

centerbShow how the plot of ‘The Merchant of Venice is apparently fanciful but in reality exactingly structured./b/center br brThe Merchant of Venice is a fairy tale. There is no more reality in Shylocks bond and the Lord of Belmonts will than in Jack and the Beanstalk. brH. Granville-Barker, in Prefaces to Shakespeare. br brThis is one way of looking at the play, reading it or enjoying the performance. But it can be a contradiction to our actual feelings about this complex play. ‘The Merchant of Venice might appear to be a romantic tale without much logic but that would be a superficial interpretation. Portias father may have raised our concerns in taking away her freedom to choose her beloved; Shylocks bond and†¦show more content†¦But this scene can also be seen as a Christian parable that attempts to reconcile two conflicting principles: justice and mercy. And the climax is about the difference between a judgement that would be made in terms of the letter of the law and one that would be made in terms of the spirit of the law. br brThe Casket theme is also about judgement. But is it by appearance or by reasoning? It is suggested that the spontaneous feeling of love that will lead the way. br brChance also plays an important part in the play. Shylock had no way of knowing that Antonio would suffer a complete loss and default his bond and even Antonio would never have thought that he would not get even one of his ships back and not be able to pay the money. Also the way that Portia disguises herself as the doctor is also very improbable but one accepts it. The Ring story is also fanciful and today we might find it an unnecessary addition but it was needed to tie up the loose ends of the play and for the story to have a happy ending in Belmont. br brIrving Wardel in The Times wrote, it is the case with this play that while its form is that of a fairy tale its characters are open to realistic analysis. Shylock is one of the main characters of the play but this also depends on the way that his character is played. He has mostly been portrayed as a comic character but when he is the tragic protagonist he ‘usurps the center of the stage. Shylock represents the killjoy against whomShow MoreRelatedThe Three Plots of The Merchant of Venice779 Words   |  4 PagesThe Merchant of Venice is a simple story line with three distinct plot lines incorporated into each other intricately. These three plot lines are the bond plot, the casket plot, and the ring plot, each equally vital to the meaning and conclusion of the play. In this essay, I will discuss the roles of the characters in the plot, the symbols, images, and rhetorical figures central to each plot, and finally how the events of the three plots are intertwined. The first sign that the three plot linesRead MoreThe Trial Scene in The Merchant of Venice Essay1010 Words   |  5 PagesThe Trial Scene in The Merchant of Venice Written between 1596 and 1598 The Merchant of Venice is not one of the most performed plays written by William Shakespeare. The play is classed as one of the sixteen comedy plays and most productions often use modern times and dress. It was performed in front of an audience who were not very well educated but the issues being raised in the play would have been understood. A modern day audience would be less sympathetic thanRead MoreWilliam Shakespeare s The Merchant Of Venice1532 Words   |  7 Pagescan make readers skip over what seems like a false beginning to a good story. But think about this: what if those seemingly lengthy, extra, useless words were actually important? For example, the opening 115 lines of William Shakespeare’s The Merchant of Venice are provide minimal support to the story at first glance. In these lines, Antonio and his friends are discussing the dynamics of happiness and sadness in order to find the root of Antonio’s sad mood. This portion of the play gives backgroundRead MoreThe Merchant Of Venice And The Crucible1491 Words   |  6 Pageshuman relationships in their literary works: The Merchant of Venice and The Crucible respectively. They emphasize this thesis through examples of love, friendship, power and Christianity. Even though love and friendship are regarded as two forms of relationships where no one seeks any pragmatical purpose, in fact they covertly embody different sorts of self-interest. The triangular relationship among Antonio, Bassanio and Portia in The Merchant of Venice and the friendship between Abigail Williams andRead More1.The Merchant of Venice as a Tragicomedy. 2. The justification of Shylocks actions in The Merchant of Venice. 3.The contrast between Belmont and Venice in The Merchant of Venice2296 Words   |  10 Pagesa tragicomedy Shakespeares The Merchant of Venice is a comedy with a difference. It was written almost certainly between 1596 1598. The play is classed as one of the 16 comedy plays but it is also a problem play due to the tragic elements woven throughout the intricate plot. The play concludes with a harmonious ending but all through the plot, reoccurring themes of sadness and tragedy are included. In terms of dramatic structure, The Merchant of Venice is undoubtedly a comedy. It followsRead MoreThe Rings of Power: Symbolic Exchange in the Merchant of Venice1595 Words   |  7 PagesThe Rings of Power: Symbolic Exchange in The Merchant of Venice Rings are significant to the narrative of The Merchant of Venice for several reasons. Firstly, as symbols of love, wealth and power. Secondly, as a means through which Portia gives and then regains control of herself, her weath and power and finally, the theft and sale of Leahs turquoise ring acts as a source of sympathy towards Shylock and allows him to parallel the Christian husbands, Bassanio and Graziano. A ring is, in andRead MoreSelf Interest : The Enemy Of True Affection1086 Words   |  5 Pagesgain any benefit from each another but seemingly many humans enter into a relationship for that purpose. In both the plays, the Merchant of Venice and The Crucible has depicted the role of self-interest in human relationships. They emphasize this theme through examples of love, friendship, power. The relationship between Portia, Bassanio and Antonio in The Merchant of Venice and the friendship between Abigail Williams and all the girls in The Crucible are both based on selfish motives. Bassanio asksRead MoreSelf Interest, The Enemy Of True Affection1228 Words   |  5 Pagesjust to extract some benefit from it. In both the plays, William Shakespeare with his famous piece, the Merchant of Venice and Arthur Miller with his famous play, The Crucible have depicted the role of self-interest in human relationships. They emphasize this theme through examples of love, friendship, power The triangular relationship between Antonio, Bassanio and Portia in The Merchant of Venice and the friendship between Abigail Williams and all the girls in The Crucible are both based on selfishRead MoreSelf Interest, The Enemy Of True Affection1199 Words   |  5 Pagesrelationship just to extract some benefit from it. In both the plays, William Shakespeare with his famous piece, the Merchant of Venice and Arthur Miller with his famous play, The Crucible has depicted the role of self-interest in human relationships. They emphasize this theme from examples of love, friendship, power The relationship between Antonio, Bassanio and Portia in The Merchant of Venice and the friendship between Abigail Williams and all the girls in The Crucible are both based on selfish motivesRead MoreThe Merchant of Venice Essay841 Words   |  4 PagesIn the comedy, The Merchant of Venice, the roles and responsibilities of women is a significant social issue proposed by Shakespeare. This theme is communicated by the only three female characters in the play: Nerissa, Portia and Jessica. For example, in Act 4 during the trial between Antonio and Shylock, Portia and Nerissa disguise themselves as Balthasar and Bellario to free their friend. However, Jessica also plays a minor role in portraying the independence of Jewish women in a Christian and

The Ugly American William J. Lederer And Eugene Burdick

Diplomacy is the art of dealing with foreign countries and their people in a sensitive and effective way. The ability to influence people and situations contributes to effective American diplomacy. In The Ugly American William J. Lederer and Eugene Burdick comment on the nature of American diplomacy in 1950s Southeast Asia. They identify the characteristics and effects of both inept and skilled diplomacy. The book highlights knowledge of language, history, and culture as critical components to the ability to influence indigenous populations. In many ways the situations and characters described in the book mirror situations and challenges faced by Special Operations Forces (SOF) today. Special Operations Imperatives are a planning tool that SOF use to influence people and situations they encounter. In order to understand the influence and effects of proper application of the Special Operations Imperatives the stories of Homer Atkins, Colonel Hillandale and Solomon Asch provide a set ting to compare and contrast with my own experiences in Afghanistan, Iraq and Jordan. Homer Atkins understood the needs of the Sarkhanese people. He identified small-scale local options to address challenges affecting the day-to-day lives of the local population. He used local materials and sought out and accepted input from the local population to ensure long-term sustainment of a bicycle-operated water pump system. Homer Atkins treated the Sarkhanese with respect and as equals. Whether it wasShow MoreRelatedSpecial Forces Soldiers Used in Book, The Ugly American by William J. Lederer and Eugene Burdick1331 Words   |  6 Pages Through this essay I will use the novel â€Å"The Ugly American† (William J. Lederer Eugene Burdick) to provide context to the benefits of applying such imperatives and the consequences of improper application. I will bring to light the actions of the characters and depict the reasons why the application of the imperative made the character succeed or fail in his desired goal. The first character that I will discuss is Honorable Louis Sears, American Ambassador to Sarkhan. He received the AmbassadorshipRead MoreUgly, Ugly American, By Robert J. Lederer And Eugene Burdick s Genius Novel, The Ugly1732 Words   |  7 PagesZachery Ringstrom Professor Sullivan English 5-01 10/2/14 Ugly, Ugly Americans At the heart of nearly every world conflict, the United States of America is either at the epicenter, or in some way, majorly involved; this has caused disdain among many nations of the world—and their disdain for the United States and her means has been demonstrated in various attacks, kidnappings, and other acts of terror. And while there are plenty of Americans going off into the world making effective, meaningful changeRead MoreThe Ugly American By William J. Deming And Eugene Burdick1284 Words   |  6 PagesThe Ugly American, published in 1958, by William J. Lederer and Eugene Burdick, depicts the many United States foreign policy errors of the time. Counterinsurgency is a parallel to the novel while the novel depicts the failures of American diplomats during a time in which Communism was succeeding. The diplomats’ lack of knowledge and sensitivity to the culture caused the U.S diplomatic corps to fail. Communism was particularly succeeding in Southeast Asia when Vietnam split in two along the 17thRead MoreThe Ugly Americ Influence And Effects2054 Words   |  9 PagesThe Ugly American: Influence and Effects Diplomacy is the art of dealing with foreign countries in a sensitive and effective way. The ability to influence the people contributes to effective American diplomacy. In, The Ugly American, William J. Lederer and Eugene Burdick, comment on the nature of American diplomacy in 1950s Southeast Asia. They identify the characteristics and effects of both inept and skilled diplomacy. The book highlights knowledge of the language, history, and culture as critical

Training For A Training Program - 1479 Words

A training program can be used to effectively improve the ability of an interviewer to conduct more accurate interviews with job candidates. To attain this accuracy, it is important to base a training program on well researched and empirical data. In developing a possible program for training interviewers, it will be necessary to discuss some of the elements that can be used for a training program. Additionally, training programs will need to be comprised of key components and a solid process to ensure the program is effective. However, a training program is only as successful as the results it produces. Therefore, the last section will explore ways to evaluate the effectiveness of a training program. Training Program Elements and†¦show more content†¦Each of these elements play an important role in the overall training process and will serve to assist interviewers in achieving more consistent ratings. Training is important because interviewers gain very little useful information from their day-to-day interviewing experiences (Cascio Aguinis, 2011). Minimal gains from going through multiple interviews makes sense, since interviewers would have nothing to compare their interviewing experiences to, or have any consistent method to learn more effective ways of conducting interviews and assigning ratings. Furthermore, training is necessary for interviewers to improve their skills, rather than perpetuate poor ones, and is best when experience combines with high levels of cognitive complexity (Cascio Aguinis, 2011). Therefore, it is critical for an interviewer training program to have elements like learning and analysis, which adds cognitive complexity by providing a base of information and c lear examples for participants to observe. Overall, experience alone will not suffice in allowing improvements to occur for an interviewer, and training is necessary to improve decision making and accuracy during interviews. Key Components As mentioned previously, a key component when conducting a training program is to clearly define the purpose of the training. The role of interviewers is to accurately rate their perceptions of an applicant and evaluate those perceptions in relation to job requirements, as outlined by a jobShow MoreRelatedTraining Program For Training Programs Essay706 Words   |  3 PagesGiven that many organizations view training as a way to gain competitive advantage, and considering the costs associated with training development and implementation, it’s important that trainees learn the necessary knowledge and skills and transfer what they learned to the job successfully. Traditional training research has focused on ways in which training programs can be designed to improve learning. Over the past 20 years, practitioners were routinely suggesting that it’s vital for traineesRead MoreTraining Programs : Effective Training Program1548 Words   |  7 PagesEffective Training Programs Training is defined by Webster s Dictionary as, a process by which someone is taught the skills that are needed for an art, profession, or job. (Websters.com). In a professional sense, training refers to a planned effort by a company to facilitate learning of a job-related competencies, knowledge, skills and behaviors by employees. According to ETT Training works, there are several reasons a company has a training program for their employees. To Increase productivityRead MoreTraining And Development : Training Program Essay1452 Words   |  6 PagesTraining and development is a very important aspect when it comes to building on the skills of a company’s employee’s in order to improve the firm’s performance. Feedback is another important component when it comes to quantifying a training program. â€Å"[So], training and feedback not only individually strengthen the employees’ performance but also they collectively work for creating the environment which is compatible with all level of employees, and they also continually nourish their work attitudeRead MoreTraining Requirements For A Training Program1073 Words   |  5 PagesTRAINING PROGRAM Introduction A training arrangement documents the goals of the training program, the training needs of the organization, the training to be conveyed, and strategic techniques for completing training exercises. It contrasts in degree from a task or individual training arrangements in that it takes a gander at how training can serve the strategic hobbies of the organization in general (Anderson, 2011). Training is a standout amongst the most critical parts of enhancing a product. SatisfactoryRead MoreTraining Programme And The Training Program Essay1732 Words   |  7 PagesThis training programme aimed to teach a four year old Labrador retriever cross (named ‘Poppy’) to lie on her side and ‘play dead’ in response to the command â€Å"Avada Kedavra†. The phrase comes from the celebrated ‘Harry Potter’ franchise, in which it was a curse that killed the unfortunate recipient. Such a task was achievable as Poppy already knew the â€Å"lie down† com mand and was trained to imitate death from this position. Though the objective of this programme doesn’t have any extremely pragmaticRead MoreTraining Programme And The Training Program Essay1517 Words   |  7 Pagesâ€Å"Avada Kedavra† This training programme aimed to teach a four year old Labrador retriever cross (named ‘Poppy’) to lie on her side and ‘play dead’ in response to the command â€Å"Avada Kedavra†. The phrase comes from the celebrated ‘Harry Potter’ franchise, in which it was a curse that killed the unfortunate recipient. Such a task was achievable as Poppy already knew the â€Å"lie down† command and was trained to imitate death from this position. Though the objective of this programme doesn’t have any extremelyRead MoreOn the Job Training: Orientation and Training Program1521 Words   |  7 PagesRunning head: ON THE JOB TRAINING: ORIENTATION AND TRAINING On the Job Training: Orientation and Training Program On the Job Training: Orientation and Training Program Any company that has hired employees knows how important orientation and training can be. Without the proper training employees will always be one step behind. The proper training early on can save countless hours of error correcting and re-training. Explaining the company policies and expected work ethic early on can make theRead MoreMarketing Training : Sales Training Program1206 Words   |  5 Pageschallenges, and training their sales force is definitely high on the agenda of most organizations (Rao, 2010). The increasing interest that firms have been showing over recent years in employees and in practices related to their management, especially training, can be explained by the general acceptance of the fact that human resources and organizational knowledge are, at present, two of the main sources of sustainable competitive advantages for the company (Singh, 2015). Sales training is a challengeRead MoreTraining Program Development1050 Words   |  5 PagesTraining Program Deve lopment and Delivery The senior leadership of the customer service call center has realized that current practices are damaging the organization’s reputation and without making some serious improvements in training and development the organization will not have a future. Hiring a HR advisor to progress from their current state is the first step in the right direction. The HR advisor is responsible for providing the customer service call center with valuable practices to establishRead MoreEvaluation Of A Training Program1140 Words   |  5 PagesIntroduction What is a training program? A training program are programs created for teaching employees in particular skills. Employee training is an essential in maintaining a great staff and keeping everyone communicating. Having a training program that is well created to establish and achieve maximum results. The requirements of the training program are recognized during a training needs analysis (TNA). When a training program is executed properly, it would increase total production and provide

Financial Ratio Analysis Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Financial Performance and Ratio Analysis. Answer: Introduction Financial analysis is critical in the context of evaluating the financial performance. One of the key tools that is deployed to carry this analysis is known as ratio analysis. This tends to compute the underlying ratios that tend to highlight the various aspects of the working of the company so that the respective strengths and weaknesses of the given entity can be identified. In this background, the objective of this report is to carry out an analysis of a company named Gelato Industries based on the respective financial statements provided for 2014 and 2015. Additionally, to facilitate performance benchmarking, the respective industry averages have also been provided. The report presents the observations in this regards. Further, the report also highlights certain key aspects about Warren Buffet as an investor. Analysis The financial ratios for the company in 2015 and 2014 are highlighted below. Ratios 2015 2014 Current ratio 0.90 1.84 Quick ratio 0.24 0.78 Average collection period 18.98 30.42 Inventory turnover 4.06 3.10 Debt ratio 61.30% 50.00% Interest coverage ratio 4.62 3.15 Operating profit margin 10.50% 9.60% Total asset turnover 2.05 1.33 Fixed asset turnover 3.50 2.42 Return on asset 11.74% 6.11% Return on equity 30.32% 12.23% The evaluation of the performance of the firm on various parameters in comparison with the industry is carried out below. Liquidity It is apparent that in terms of liquidity, the performance of the company is far inferior to the peers. This is because the current ratio in both the years is lesser than the industry average of 2 which is especially true for 2015. A similar trend is noticed in the context of the quick ratio. As a result, it would be fair to conclude that the company needs to take measures to improve the liquidity or it could face potential cash crunch especially in the short term (Arnold, 2005). Capital Structure The debt ratio is indicative of the capital structure of the company. While in 2014, the debt level seems to be fine, but in 2015, the leveraging of the balance sheet seems to have increased due to which the use of debt is higher than the industry average. Also, a key risk is with related to the interest payment default and hence interpretation of interest coverage ratio becomes essential. The interest coverage ratio has undergone improvement in 2015 when compared to corresponding value in 2014. The value in 2015 is clearly superior than the industry average which augers well for the company with regards to availing debt funding (Berk et. al., 2013). Asset Management These ratios essentially capture the extent to which the assets are used efficiently for sales generation. The asset management ratios i.e. fixed asset turnover and total asset turnover both are superior to the industry average in both the years. Further, this reflects the superior ability of the company to generate sales from the available assets which provides this a competitive edge over the peer group companies (Damodaran, 2010). Efficiency The efficiency ratios tend to reflect the operational efficiency particularly in relation to the management of the cash cycle. It is apparent that the efficiency ratios of the company are superior in comparison to the industry average. This is true for both average collection period and also inventory turnover. Hence, the company is able to covert inventory into sales in a quicker manner as compared to peers. A similar conclusion can also be drawn in relation to the ability of converting sales into cash as the collection period for company is lower than the industry average. Both these aspects tend to contribute to a lower cash cycle for the company which limits the working capital requirements (Lasher, 2007). Profitability The profitability ratios of the company tend to suggest that the performance of the company in this regards in 2015 is superior to the industry. This is true for return on asset, return on equity along with operating profit margin. However, certain profitability ratios such as operating profit margin and return on asset were lower for the company than the industry average in 2014. However, the company seems to have improved the business operations and underlying strategy which has led to better margins and higher profits on account of top line growth (Beck et. al., 2013). Price of each share at the end of 2015 = $ 15 Number of outstanding shares = 5000 Earnings per share = (Net profit /Number of outstanding shares) = (22884/5000) = $ 4.58 Price-earnings ratio = Price per share/ Earnings per share = 15/4.58 = 3.28 Market to Book Value = (Market Value/Book Value) = (5000*15)/ (195000-119535) = 0.99 On the basis of the above, it can be concluded that while the balance sheet of the company seems a little higher in leverage and also the liquidity ratios pose some concern, the performance of the company in other aspects is superior to the industry average. Also, it is noteworthy that in the year 2015, the profitability, asset management, efficiency ratios have seen significant improvement which is very positive for the shareholders. However, considering the improvement seen by the company (Damodaran, 2010). in 2015, the share prices of the company seems grossly undervalued especially seen the low P/E. Also, the book value of the company is slightly higher than the market value which indicates that the market believes that the management is not generating any value which is not supported by the 2015 financial statements. It seems that in the near future, the stock price of the company would improve especially if the management could replicate the performance level at 2015 standards (Arnold, 2005). Some of the interesting facts in relation to Warren Buffet are highlighted below (Kirkham, 2014) More than 99% of his current wealth has been turned after the age of 50 as the value of the holdings along with Berkshire Hathway shares has shown immense growth in the last two decades. Rather than giving his wealth in inheritance, Warren Buffet has made a pledge to donate 99% of his wealth for charity work. He made his first stock investment at the age of 11 in the year 1941. Buffet is an avid reader and more than 60% of his time is devoted to this activity. Buffet does not have a computer in his office or desk and prefers to analyse the financial statements without the same (Alkins, 2015). By the age of 16, Buffet has warned a wealth of about $ 53,000. His first job was with the Washington Post. (ii) The key points which Warren Buffet makes in relation with investments are summarised below. Investment must always be made in a business which the investor can understand. This is the reason why Buffet never invested in new age businesses driven by internet including Microsoft (YouTube , 2009) Once a stock is bought, a person should usually have a very long investment horizon as wealth is typically built over a large time period (YouTube , 2014) The management quality and ethics are absolutely critical for Buffer and no matter how good the business is, but if the management is bad or unethical, then a person must not invest in the business (YouTube , 2009) Warren Buffet does not believe in diversification and instead focuses on a concentrated portfolio with few stocks but only those ones which can be understood (YouTube , 2014) Further, it is essential to take investment advice only from trustworthy sources. Conclusion On the basis of the above discussion, it would be appropriate to conclude that Gelato Industries has significantly improved performance in 2015. This is especially visible in the context of profitability, efficiency and asset management. Even though the liquidity ratios and debt ratio are a little inferior to the industry, but it does not pose any significant issue. Also, the current market value seems less for the company considering the growth it has shown in 2015. It may be expected that the price of the stock would increase going forward. Further, the various key investment advices by Warren Buffet can also be useful for creating wealth in the long term for investors and should be adhered to. References Arnold,G. (2005). Corporate Financial Management (3rd ed.). Sydney: Finaicial Times Management. Berk, J., DeMarzo, P., Harford, J., Ford, G., Mollica, V., Finch, N. (2013).Fundamentals of corporate finance. London: Pearson Higher Education AU. Damodaran, A. (2010).Applied corporate finance: A users manual(3rd ed.). New York: Wiley, John Sons Elkins, K. (2015, September), 22 mind-blowing facts about Warren Buffett and his wealth, Business Insider, Retrieved on September 22, 2017 from https://www.businessinsider.in/22-mind-blowing-facts-about-Warren-Buffett-and-his-wealth/articleshow/49082296.cms Kirkham, E. (2014, November), 21 Surprising Facts You Never Knew About Warren Buffett, Go Banking Rates Website, Retrieved on September 22, 2017 from https://www.gobankingrates.com/net-worth/21-fun-never-knew-warren-buffett/ Lasher, W. R., (2007) Practical Financial Management (5th ed.). London: South- Western College Publisher YouTube (2009), Warren Buffett's Financial Rules to Live By, You Tube, Retrieved on September 22, 2017 from https://www.youtube.com/watch?v=gUAtVyWS_4Y YouTube (2014), Warren Buffett's Best Advice on Successful Investing, You Tube, Retrieved on September 22, 2017 from https://www.youtube.com/watch?v=_5VQPIeZhMc