An Introduction Of Hrm And Shrm Business Essay

An Introduction Of Hrm And Shrm Business Essay A lack of clear direction prevails in global HR research which is expressed by scholars and practitioners across a wide front as a concern for the profession, including the resultant role personnel ought to play in organizations objective achievement (Goshal 2005; Hendry 2003; Holbeche 2006; Morris, Snell Lepak 2005; Meisinger 2005). Various researchers have pointed out during the last few years (Browning Edgar 2004; Becker, Huselid Ulrich 2001; Birchfield 2002; Brewster , Dowling , Grobler, Holland Warnich 2000; Mayrhofer Brewster 2005; Nel 2007; Ruona Gibson, 2004; Storey, 2001) that a revised approach to Human Resources Management (HRM) is evolving. This includes the strategic role and functions of the HR profession as business partners in organizations and the way they ought to direct personnel to optimize their contributions to the organization. Transformational leadership expressed in terms of the high-level capabilities and management skills are also assuming a significant place in the future of the HR profession in organizations as well as the ability to add value. Human Resource Management is an approach to the management of employees, it involves the process of employing people, developing their skills/capacity and utilizing their services. The traditional aspects of HRM methods are more towards the selection of recruitment process and imparting training. This HRM process does not have any specific riles for different areas like recruitment, training and utilizing the services. SHRM is defined by Little (2003) as the process of achieving the best possible alignment of personnel behavior with the organizations strategy and hence align with the profit and loss in the short and long term. The personnel behavior-strategy relationship is dynamic because it changes as the environment changes and as the precise goal and performance requirements of the strategy emerge. As the term itself denotes, Strategic HRM deals with strategic aspects of HRM. Unlike HRM, Strategic HRM mainly focuses on the programs with long-term objectives. Though HRM and Strategic HRM focus on increasing employee productivity, Strategic HRM uses many strategic methods. Unlike HRM, Strategic HRM uses a more sophisticated method for improving the overall employee motivation and production as well as it focuses on the sage of more systematic tools to achieve focus on partnerships with internal and external customers through the development of long term goals. Little (Little 2003) has argued that the organization is independent of personnel it then follows that the central questions are: First, since the organization is separate from personnel, then what are the factors intrinsic to the organization that can be identified as most influencing the behavior of personnel? Second, once the intrinsic organization factors have been identified, how do they link to influencing behavior? Third, once identified, how can the factors intrinsic to the organization that most influence behavior then be better managed to improve human performance and so improve alignment of personnel behavior with the goals and aim of the organization? Fourth, what are the intrinsic psychological factors personnel bring to the organization that will impact managements effort at improving the alignment of behavior with organization goals and aims? Introduction of how the role of HR in the 21st century is becoming increasingly vital. HR Departments are increasingly expected to operate as a business within a business rather than as a disconnected and isolated set of HR Practices. As such, like many business, the HR Department must have a vision of strategy that defines the way they are headed, a set of goals (objectives, outcomes and deliverables) that focus the priorities for the work and investment essential to carry out this vision and an organizational structure for the HR to accomplish these goals. The new focus for the HR department is to create value (Ulrich and Brockbank,2005) for the key holders. The goals and outcomes of the HR Department has been well documented, the value of HR contribution has traditionally been measured by the quantity of cost of activities (eg: How many people hired over period of time, training given to the employee or the financial cost of delivering employee benefits) Instead of focusing on the relatively easy to measure activities of staffing, training and other functional operations, HR departments are better assessed by the outcomes created that support the companies objectives. These outcomes generally may be defined as the capabilities an organization requires for its strategy to succeed on a sustained basis (Ulrich Smallwoord,2004) The diversification of the HR Departments role towards adapting to the 21st century can seen through the requirements of the organizations for competitive superiority and speed to market, collaboration, cultural exchange, efficiency, service, innovation, accountability or even leadership branding. These and other capabilities represent the organization for what it is known for and the identity of these practices can be enhanced by the HR practice is aligned to the desired focus of the company. With a HR vision of value and outcomes of capabilities, a HR Department can now focus its attention to how it can and should be organized to deliver the vision to reach the desired outcomes (Chirstensen,2005) The diversification from traditional HR practices is a major requirement for companies to adapt to the changes and be focused on the mimicking of the business organization on which it operates and from there it should focus on adopting a concept to reflect the vision and direction of the company in order to stay in line with the charter of the company itself. Introduction of the organization Duty Free Shop (DFS) in Malaysia are licensed under Section 65D, Customs Act 1967. DFS typically operates at international airports, seaports, downtown and at borders. DFS is set up for the purpose of promoting the tourism industry in Malaysia, especially to foreign tourists. Foreign tourists as well as eligible local tourists are able to purchase goods free of duty and GST at any DFS The QM Group of Companies offers a broad assortment of premier liquor, wines and spirits including prominent global brands. Its extensive variety of goods is gladly presented at its diverse duty-free outlets at Bukit Kayu Hitam, Padang Besar as well as in Langkawi. The QM Group of Companies also offers numerous other premier duty free products such as stylish apparels, perfumes, cosmetics, cigarettes, tobacco, confectionery, souvenirs etc as well as locally finished handicraft. The Qm Group of Companies has also diversified into private bonded warehousing operations with the inauguration of its first private bonded warehouse facility at Prai, Penang offering abundant storage, distribution and logistics services as well as other value adding activities. The QM Group of Companies, led by its main corporation QM Sdn Bhd is a fast growing stable of dynamic companies with its core focus involved in the duty-free business dealing in wholesale and retail. QM Sdn Bhd is today an recognized industry leader and key player in the country`s duty-free industry. The QM Group of Companies has been able to build its achievement upon its decades of industry knowledge, proven reliability and stringent vow to giving only the best quality products and services to both visiting tourists and business travelers to discover a truly new dimension in duty-free shopping. Evaluate how the HR practitioner should proceed in ensuring that alignment between business and HR strategies is effective. The HR professional has more challenging roles to perform under SHRM the emergent business partner model. Unlike the traditional HRM, which is transactional in nature and is concerned with administrative activities, SHRM is a value-added core responsibility that aligns the HR system, policies and practices with business strategy to gain sustained competitive advantage for the firm. In performing the new challenging roles, the HR professional must think outside the traditional organizational box of HRM and develop a more systematic and radically different approach to manage the human element to effectively support the firms business strategy formulation and implementation. For successful implementation of the business partner role, the HR manager needs to understand the companys business direction and its competitive position in the market place. Apart from this, to become a successful strategic partner, the HR manager must have competencies that have to do with the business issues i nvolved in strategy and strategy development, and ability to contribute to organizational design and change management (Lawler, III and Mohrman, 2003). The HR function, according to Rowden (1999) must change from a staff function that delivers prepackaged HR services to a service that helps managers create customized strategic plans to influence the effectiveness of company performance. The HR manager can play an important role in the formulation of strategy and providing the human resource required to support various strategies and strategic initiatives in the organization. He provides the leadership role in developing the human capital and the necessary capabilities to enact the st rategy and drive the implementation and change management processes to success (Lawler III Mohrman, 2003). Good human capital management is a prerequisite for successful execution of business strategies. According to Ulrich (1998), the modern HR professional must perform four complementary roles. The first role, administrative excellence, is important because it is an immediate way of contributing to the overall efficiency of the organization. As administration expert, he must rethink how work is done throughout the organization. The second role HR professionals must realize is that of employee champion. The HR manager must play the crucial role of employee advocate. He should be the employees voice in management discussion, offer employee opportunities for personal and professional growth; and provide resources that employees need to meet the demands put on them. The new role might also involve suggesting, that employees be given more control over their own work schedules. This is the issue of employee empowerment. Two additional roles the modern HR professional must realize are those of strategic partner and change agent. Being a strategic partner calls for an ongoing evaluation of the alignment between current HR practices and the business objectives of the firm, and a continuing effort to design policies and practices that maximize this alignment. HR practitioner should be held responsible for defining an organizational architecture that is, identifying the organizations way of doing business. Such framework as looking at the organizational components strategy, structure, rewards, processes, people, style and shared values may be adopted. This new knowledge will allow HR to add value to the executive team with confidence. Being a change agent the HR manager must play a key role in implementing and managing organization change, assessing potential, sources of resistance to change, and collaborating with line managers to overcome these barriers. The HR professionals role as a change agent is to replace resistance with resolve, planning with results and fear of change with excitemen t about its possibilities. These last two roles strategic partner and change agent are of particular interest to us because they represent the emerging strategic dimension of HR function SHRM. In addition to the above roles the HR practitioner needs to be a model and take on the specific role of integrating people strategies with business strategies in a way that advances the bottom line. Metzler (1998) adds that: the HR manager must play an active and guiding role in enabling the organization to choose its human resources well, invest in these people, support that growth and respect their needs, while fostering innovations needed to achieve the strategic business objectives. The HR professional operating under the SHRM system must chart roles that include early and active involvement in key strategic business choices. He must become the partner of decision makers in the organization, and sharing accountability for organizing and performing work. He must carry out effective monitoring to see that everyone in the organization, and at every organizational hierarchy, stay focused on share strategic priorities. He must challenge old ways and constantly promote innovation to enhance corporate performance and the firms competitiveness. Critically analyze how Human Resource Management achieves competitive advantage and what factors limit Human Resource Managements ability to act. Use the current organizational practices as reference. Johnson (2000) details, best practices or high performance work practices are described as HR methods and systems that have universal, additive, and positive effects on organizational performance. These practices maximize their influence on Companys performance through increased customer satisfaction, productivity, innovation and development of favorable reputation, HR planning, Recruitment Selection, Training and development, compensation, Performance management and employee relations are some such practices Why are employees in some companies happy to stick with the company while others look for a change? The reason is that some companies know how to take good care of their employees and provide a working environment that helps them retain their identity, while proving themselves and growing along with the company. HR practices encourage the growth of the organization as employees after all play a major role in the well-being of a company they deal with enhancing competencies, commitment and culture building Pfeffer (1998) proposed HR practices which according to the literature, can be expected to influence the firms performance. In his seminal work, Pfeffer (1998) proposed the following seven HRM practices:- (1) Employment Security (2) Selective Hiring, (3) Self-managed teams and Decentralization of Decision making (4) Comparatively high compensation contingent on Organizational performance, (5) Extensive Training, (6) Reduced status distinctions and barriers, including dress, language, office arrangements, and wage differences across levels, and (7) Extensive sharing of financial and performance information throughout the organization. A number of contemporary and good HR practices have resulted in effectively managing human resources, managing attrition problems and keeping them happy. Some of the best HR practices that are worth mentioning that have helped organizations in the creation of a highly satisfied and motivated work force may be identified as:- Selective Hiring- practice can ensure that the right people, with the desirable characteristics and knowledge, are in the right place.. Training and Development- may be related to firm performance in many ways. Firstly, training programmes increase the firm specificity of employee skills, which, it turn, increases employee productivity and reduces job dissatisfaction that results in decrease in employee turnover Job Security- creates a climate of confidence among employees which cultivates their commitment on the companys workforce. This develops a feeling of confidence and employees commit themselves to expend extra effort for the companys benefit. Flexi-time- Flexi-time is a practice, wherein an organisation gives its employees the opportunity of a flexible working hours arrangement. Performance-linked Incentives and Bonus- Every good performance is appreciated in the form of a pat on the back, bonuses or giving some other compensation for a job well done. The incentives can be implemented at the individual as well as the team level and it has been seen that this works wonders in getting the best out of the employees and boosts their morale. Performance Evaluation- A good evaluation and a fair evaluation system links the employees performance to the business goals and the priorities of an organization. Highlight Performers- High performers get better results, faster and closer to the targets. Organizations create profiles oftheir top performers and makethem visible through their intranet, display boards etc. Open House Discussions Rewarding Ideas- Employees are the biggest source of ideas. Successful organizations nurture ideas and they understand that employees who are actually working and know the business can provide the best ideas. Through this system, talented employees are identified and developed. DLF and Infosys have implemented the I4 Teams ( Ingenious, Idea, Incubation Implementation). Rewards and Recognition- recognition of talentis highly important, the primary goal of rewards and recognition is to improve performance of employees. Non-monetary recognition can be very motivating, helping to build feelings of confidence and satisfaction. Another importantgoal is increased employee retention and encourages others to give their best. Coaching and Mentoring Organisations use coaching and mentoring to train managers to address specific skill deficits, enhance performance and grow into expanded leadership roles. Cross-Functional Training- Organisations foster and harness talent by imparting in-house cross functional training to make their professionals multi-skilled and multitalented. Many organizations encourage their employees to be multi-skilled and add value to other functional aspects as well. Employees Assistance Programmes-These programmers are offered by many organizations in the corporate sector for the employees benefit. Every employee is challenged by personal problems and concerns. The EAPs are intendedto help employees deal with their personal problems that might adversely impact their work performance. Clearly Defined and Measurable KRAs- KRA is an acronym for `Key Results Area. Knowledge Sharing -Knowledge sharing sessions are periodically organized by the organizations to widen knowledge base of their employees and improve their effectiveness. Work Environment- A safe an]d happy workplace makes the employees feel good about being there. Each one is given importance and provided the security that gives them the motivation and incentive to stay. Providing equal employment opportunities for all, value of trained human resource, providing flexibility to employees especially to women at various life stages, sabbatical from corporate life, and extended maternity leave promoting practice of entrepreneurship by employees within the organization. Human Resource Management has taken a leading role in encouraging CSR activities at all levels. Companies like Wipro inculcate CSR values amongst its workforce right at the beginning during the induction process. The focus and attention of HRpractices today are on creating HR policies based on trust, openness, equity and consensus .Creating conditions in which people are willing to work with zeal, initiative and enthusiasm; make people feel like winners. Fair treatment of people and prompting redressal of grievances would pave the way for healthy work-place relations, prepare workers to accept technological changes by clarifying doubts External factors affecting Human Resource Planning Human resource planning can be defined as the process of identifying the number of people required by an organization in terms of quantity and quality. All human resource management activities start with human resource planning. So we can say that human resource planning is the principle/primary activity of human resource management. 1. Employment :- HRP is affected by the employment situation in the country i.e. in countries where there is greater unemployment; there may be more pressure on the company, from government to appoint more people. Similarly some company may force shortage of skilled labour and they may have to appoint people from other countries. 2. Technical changes in the society :- Technology changes at a very fast speed and new people having the required knowledge are required for the company. In some cases, company may retain existing employees and teach them the new technology and in some cases, the company have to remove existing people and appoint new. 3. Organizational changes :- Changes take place within the organization from time to time i.e. the company diversify into new products or close down business in some areas etc. in such cases the HRP process i.e. appointing or removing people will change according to situation. 4. Demographic changes :- Demographic changes refer to things referring to age, population, composition of work force etc. A number of people retire every year. A new batch of graduates with specialization turns out every year. This can change the appointment or the removal in the company. 5. Shortage of skill due to labour turnover :- Industries having high labour turnover rate, the HRP will change constantly i.e. many new appointments will take place. This also affects the way HRP is implemented. 6. Multicultural workforce :- Workers from different countries travel to other countries in search of job. When a company plans its HRP it needs to take into account this factor also. 7. Pressure groups:- Company has to keep in mind certain pleasure. Groups like human rights activist, woman activist, media etc. as they are very capable for creating problems for the company, when issues concerning these groups arise, appointment or retrenchment becomes difficult. Elaborate on what HR strategies can be implemented in this organization, to meet or exceed employees psychological contract in SOME (two or more) differing HR areas like HR planning, Reward Management, Performance Appraisals, Career Development, Recruitment, Training and Development and Industrial Relations. Psychological Contract A psychological contract represents the mutual beliefs, perceptions, and informal obligations between an employer and an employee. It sets the dynamics for the relationship and defines the detailed practicality of the work to be done. It is distinguishable from the formal written contract of employment which, for the most part, only identifies mutual duties and responsibilities in a generalized form Selective Hiring -The respondents were also asked to rank these practices in order of importance given to them by the organizations to each of them. 85% of the respondent agreed that Selective hiring was given most importance by their employers. Selectivity in recruitment is an important practice and is undertaken by almost every organization. This perhaps is the first step in achieving edge over others. Organisation follow the approach of selecting the right person with the right attitude and personality make up to provide the right kind of abilities and capabilities to take the organization toward higher growth. This is an aspect of talent retention as it implies matching a persons inherent skills, traits and personality to the jobs. Moreover when employees go through a rigorous selection process, they feel that their knowledge, experience, abilities and capabilities have got them the jobs in the organization. They feel valuable and high responsibility for performance is created , and the message i s that person matters. They are selected as they possess the desire to succeed and have the capacity for growth, learning and develop skills and capabilities beneficial to the organization. Reward Management 99% of the respondents agreed that good performance should be highlighted as it is motivating and leads to better performance.People are motivated by recognition and fair treatment. Higher the motivation higher will be the performance. When this performance is clubbed with adequate rewards employees are further motivated to perform. Such practices induce other employees to traverse on the same route of performance and reward, taking their firm on a path of growth and gaining competitive advantage. This dictates that people are responsible for enhanced levels of performance and profitability. However rewarding performance should be fair and equitable based on and linked to the performance of an employee Training Development 60% rated training and development as next important activity followed by knowledge sharing and job security in the order. However all the respondent agreed that training was extremely essential for their growth and development. 92% respondent that training should be need based and specific to the employees need and requirements. Worker autonomy, self managed teams, and even a high salaries are practices that equip and provide employees to make changes and improvements in products and processes . However, training will produce good resultsonly if the trained workers are permitted to employ their skills. If employees are to be given more information about operations, they need skills in employing that information to diagnose problems and suggest improvements. Training is an attempt to improve current or future employee performance by increasing an employees attitude or increasing their capabilities. Training provides the opportunity to raise the profile development activities in the organization. Training increases the commitment levels of employees and reduces the perceived growth inequality. Development reduces the turnover rate of employees provides advancement opportunities and also reduces absenteeism conclusion list of references

Formats of Income Statement and Balance Sheet Essay

Income statement: In the case of sole proprietary and partnership concerns there are no prescribed forms of the income statement and balance sheet. Their preparation is also desirable but not compulsory. However, they are generally prepared. In the case of trading concern, a trading account and in the case of a manufacturing concern, a manufacturing account and a trading account can also be prepared. In such a case, the account heading is mentioned as follows: Manufacturing/trading and profit and loss account. In the case of joint stock companies’ preparation of the profit and loss account and balance sheet every year is compulsory. There is no prescribed form (except in the case of banking and insurance companies) of the income statement or profit and loss account. The account is titled as â€Å"Profit and loss account† The results of manufacturing and trading activities may; however, be shown separately in the account. The profit and loss account is usually prepared in a T shape. In the case of joint stock company, the manufacturing, trading and profit and loss account is prepared in the above format except with three modifications: I.The heading given is only â€Å"Profit and loss account† for taxation in the profit and loss account; II.The net profit is shown after making provisions for taxation in the profit and loss account; III.Figures, for the previous period, if any, have also to be given. Profit and loss appropriation account: In the case of joint stock companies, a profit and loss appropriation account is also prepared. It explains as to how the profit earned during the period has been distributed. Balance sheet: There is no prescribed form of balance sheet for a sole proprietary or a partnership concern. However, the assets and liabilities may be shown in any of the following orders: I.Liquidity order II.Permanency Order In case the concern adopts liquidity order, the assets which are more readily convertible into cash are taken into account initially and those which are not so readily convertible are taken into account subsequently. Similarly those liabilities which are payable first are taken into account initially and those payable later on are taken into account subsequently and so on. In the case of permanency order, the reverse order is followed. As per the law applicable to some governments, every balance sheet of a company shall give a true and fair view of the state of affairs of the company as at the end of the financial year. Similarly, every profit and loss account of a company shall give a true and fair view of the profit or loss account of the company for the financial year.

Walmart supply chain - Free Essay Example

Sample details Pages: 4 Words: 1144 Downloads: 4 Date added: 2019/07/26 Category Business Essay Level High school Tags: Walmart Essay Did you like this example? Walmart of Chinas poor transportation system contributed to their supply chain inefficiencies. The issues with the transportation was caused by the various amounts of disbursement centers and the distance between them. Although, the company had large cube trucks the issue was that they would only ship with full loads and with the various disbursement centers carrying limited inventory it could take up to two weeks before a shipment was ready. Don’t waste time! Our writers will create an original "Walmart supply chain" essay for you Create order (Johnson, 2015) With this cost effect method for the transportation department many inefficiencies were created for the stores, either empty shelves for lack of product or over packed inventory spaces to avoid running out of goods for sale. The inefficiencies in Walmart of Chinas transportation department is largely since the countries transportation infrastructure is very poor, according to Robert Salomon in his article, Heres Why Walmart Stumbled on the Road to China. Although recently China has invested heavily in its transportation infrastructure it is still inefficient to transport goods due to both the countrys size and its air, ground, and rail infrastructure does not meet developed country standards. (Salomon, 2016) These inadequacies burdens Walmart financially and erodes its ability to properly supply their facilities with scheduled inventory levels. Especially their highway systems only the larger cities in the country have adequate roadways for travel making the trucking distribution of inventory extremely difficult. Until Chinas transportation methods are more efficient the delivering of goods and meeting those supply demands will remain impossible. Recommendations Transportation costs of goods in China is four times as high as western countries. (Yanrong, 2013) This is a major concern for Walmart of China, because there is a high risk of impacting profit margins if transportation and logistics were to encounter any inefficiencies. The need to evaluate and rectify any potential gaps in the supply chain can reduce business strains and improve product flow from suppliers to consumers. They have already been successful in consolidating both its distribution centers and purchasing locations to aid in a more efficient distribution hub. With a strong centralized distribution they can now expand its capabilities and connect with the growing distribution networks According to Knowler as of July 2018, China now has over 12,500 miles of high speed rail lines that are now beginning to be utilized to ship cargo items, (Knowler, 2018) and with these new connections to their distribution centers items can be shipped across longer stretches in shorter timelin es. This implementation will enable Walmart to keep pace with a growing economy and the necessity to maintain inventory levels for consumers. With improving distribution, the focus of the transportation department Walmart of China can work with the existing trucking distribution centers by focusing their routes on closer locations making routine stops easier for replenishing their inventory and focusing on implementing the use of the railway cargo system to accommodate the locations that are outside trucking areas. Although this use could be costly to implement the return on investment could be strong because the stores will stay stocked with inventory to maintain profits. Warehousing Evaluation Walmart of China has been damaged with supply chain inadequacies which embodied multiple warehouse locations without central direction and alliance. In 2011, Walmart of China had five distribution centers that serviced all their stores, which suffered for operation shortfalls and could not properly service both product suppliers in the stores. This lead to many stores taking on the extra cost of renting extra warehouse space to store extra inventory so they could keep their shelves stocked. To fulfill this space Walmart of China has increased their amount of distribution centers to 20 by 2015. (Johnson, 2015) Along with expanding physical locations they consolidated the buy offices and adopted the Walmart of the United States warehousing strategies of cross docking and staple stock. (Johnson, 2015) With the increased distribution centers, they solicited third party logistic service providers to aid in inventory requirements. Some of this is a shared space with limited availability, i t was a critical decision to allow proper support to maintain current growth and forecasted demand. Walmart of China runs a risk of limited space in a short amount of time when using third party providers. These distribution centers have successfully adopted the practice of cross docking and staple stocking to reduce inventory holding costs and warehouse space requirements. The ability to cross dock allows warehouse flexibility and the ability to service a larger number of stores and products with little to no barriers since the items are rapidly transferred to another truck within the facility. This practice does however become problematic when it comes to scheduling with both product and store delivery distributers. Logistics must be scheduled proficiently, if not deliveries will become conflicted. To prevent this conflict, they need to use the staple stock method, where they store warehouse inventory and tactically load the crates for delivery. This allows for easy substitutions to prevent any mistakes. By applying these strategic methods, it has allowed Walmart of China to reduce costs that effect their competitive customers pricing. The ability to securely hold hazardous material has become a large concern as of late 2015, after a warehouse explosion in Tianjin. The explosion was due to the improper handling of hazardous materials in a warehouse facility. This resulted in increasing investigations to ensure hazardous materials or dangerous goods are stored within the safety compliant measures. (Trayner, 2015) This has resulted in an increase of security which end results were two harbors being shut down. This presents real adversity for supply chain practitioners who are used to holding a safety stock of product after import in a licensed DG warehouse; and likewise, for those who are used to manufacturing for stock and then shipping for export or domestic sale at short notice. This possibility now no longer exists. Stocks have had to be eliminated, and production cycles for export now need to match exactly the departure of the intended vessel so that the container can be carried straight from the factory to the harborside DG warehouse. (Krassenstein, 2016) The importance of a dangerous goods qualified warehouse is a necessity to facilitate the ability to supply hazardous material products to Walmart of Chinas consumers. References Johnson, F., (2015). Walmart China-Supply Chain Transformation. Richard Ivey School of Business Foundation. Retrieved from: https://hbsp.harvard.edu/download?url=%2Fcourses%2F562993%2Fitems%2FW15534-PDF-ENG%2Fcontentmetadata=e30%3D Knowler, G. (2018). China-Europe Rail Growth Unsettles Air Cargo Service Providers. Retrieved from: https://www.joc.com/rail-intermodal/international-rail/china-europe-rail-growth-unsettles-air-cargo-service-providers_20180720.html Krassenstein, D., (2016). China Restrictions on Hazardous Cargo Threaten Supply Chains, Companies. Retrieved from: https://www.joc.com/port-news/asian-ports/china-restrictions-hazardous-cargo-threaten-supply-chains-companies_20160105.html Lu, C., (2014). Walmarts Successful Supply Chain Management. Retrieved from: https://www.tradegecko.com/blog/incredibly-successful-supply-chain-management-walmart Salomon, R., (2016) Heres Why Walmart Stumbled on the Road to China. Retrieved from: https://fortune.com/2016/02/21/why-walmart-stumbled-on-road-to-china/ Yanrong, L., (2013). Strategy Adjustment of Walmart China. CS Canada Management Science and Engineering. Retrieved from: https://cscanada.net/index.php/mse/article/view/j.mse.1913035X20130704.Z012

Security of the Database System - 1236 Words

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Attention Deficit Hyperactivity Disorder Essay - 1367 Words

Attention Deficit Hyperactivity Disorder â€Å"ADHD (Attention Deficit Hyperactivity Disorder) is like living in a fast moving kaleidoscope where sounds, images and thoughts are constantly shifting.† (NIMH-ADHD) ADHD can be very frustrating and difficult for children. Medication and treatment are available and have been proven effective. Parents can also get frustrated and they could do something wrong. ADHD is effectively treated with medication and therapy. There are three basic types of ADHD. They are inattention, hyperactivity, and impulsivity. (NIMH-ADHD) A child may have one, any combination of two or even all three of these types. If a child has a hard time keeping their mind on one thing or if they get bored easy they†¦show more content†¦Scientists believed, for a while, that ADHD was caused by minor head injury. Although some children who had ADHD have had head injury, not all did, so that theory was disproved quickly. (Attention Deficit Disorder Association) The NIMH (National Institute of Mental Health) linked a person’s ability to pay attention to the level of brain activity. (Attention Deficit Disorder Association) Now that the scientists sort of know what causes the disorder, they can treat it. There are many programs and methods out there to help children with ADHD and their parents. Parents must realize that, â€Å"Medication alone is not the answer, research has shown that the most effective treatment and management of ADHD is a combination of medication and behavior modification programs [or therapy].† (About ADD) This is the most important statement an ADHD parent could hear. The type of drugs used are called stimulants or psychostimulants, they are both the same. Stimulant medications are used to control the symptoms of ADHD. They are not used to control behaviors. (About ADD) What they do is Alter the level of neurotransmitters in the brain. (Attention Deficit Disorder Association) They were first used in 1937. Effects of stimulant medications usually take effect right away. A common stimulant medication is Ritalin. People thought that was an addictive drug. In fact stimulan t medications do not cause dependence. (AttentionShow MoreRelatedAttention Deficit Hyperactivity Disorder755 Words   |  3 PagesAttention Deficit Hyperactivity Disorder: Influence on Adolescent Development Attention Deficit Hyperactivity Disorder: Influence on Adolescent Development Attention Deficit Hyperactivity Disorder, abbreviated by ADHD, is a common behavioral disorder that affects roughly 10% of adolescent children. Though the reasoning behind causes for ADHD is not completely understood, it has been found that males are much more likely to be diagnosed, opposed to their female counterparts. 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Laptops in Schools Free Essays

Laptop Usage in Schools The issues of laptops being used in schools are brought up throughout the whole country. Many people think that if we provide every student with a laptop, we will end up spoiling our future generation and turn them into lazy, unimaginative individuals. But with the correct usage, maintenance, and supervision, the laptop proposal can work. We will write a custom essay sample on Laptops in Schools or any similar topic only for you Order Now For one, the students would have the internet right at their fingertips, making research quick and efficient. Along with the handiness of looking up all their notes with a simple click of a button. The laptop initiative has been proven to be very effective in schools in the United States; it has increased students productivity, accountability, and convenience. Administrators who are against the initiative of laptops argue that they are a waste of money and the schools budgets cannot handle it. They also believe that laptops would be a big distraction towards the student’s education. Some parents are also concerned about their children visiting inappropriate websites, along with having access to obscene material. Little do they know, there are abundant ways in disciplining the opposing view point. It has been proven in schools across the country that if we provide every student with a laptop, the productivity in classes will go up. To guarantee these successful results, both the students and the teachers would have to have the most up-to-date software’s and access to the internet through the wireless networks at school. A laptop is an essential tool, similar to how a pencil is required for class. If everyone shows up with their prepared material, the class can accomplish an increase in quality access to technology, transform quality of instructions, increase student engagement, improve academic achievement and technology literacy, increase economic competiveness, and enhance home-school connections. Along with so many more benefits. For example, if everyone had laptops, the teacher can easily send quick links of recordings or sources that relate to the curriculum. This is a more fun way to learn for most students. This can serve a sounding board for ideas, such as interactive programs, chat rooms, emails, and instant messaging. Judging from my own experience, I would definitely prefer engaging with different resources online rather than listening to my teachers boring lectures. Therefore, if classroom activities are more interesting, than students are more likely to participate. Laptops are a great way to make things more appealing, from all the educational games that are available to enlightening videos on the web. All of these benefits do not only apply to the students, but studies show that they certainly also have a positive effect on the schools when the results of the states test come in. Incorporating laptop usage in classrooms has also proven the development of student’s accountability. Students then have no reason for any papers being lost or not being able to receive an assignment when being absent. Teachers would also have the responsibility to post up all the required materials and objectives of the course, along with frequently updating lectures and assignments. With this technology, it makes it almost impossible for a student to make up any excuse for not doing their work, considering all the information they need to know is online. By using laptops at school, students have the ability to challenge their assumptions by seeking expert advice and researching data. Having that access gives the students the responsibility to have all the accurate answers on a test or an essay. Another advantage of having a laptop as a digital teaching assistant, all of the visual medium, multi-media, and interactive programs, motivate the students to participate because they can work at their own pace while still being challenged to get to the next level. This also forces the students to think critically by examining and analyzing multiple points of view by participating in online debates. Overall, it has been proven that students, who are involved with laptop usage in classrooms, are more liable to get their work done on time and more competent. Laptops, when used correctly can stimulate a different type of learning and be a great convenience for students. No more would we be sitting in class with paper and an overhead. Paper notebooks will be old school and online and internal collaboration between students and teachers will be at an all time high. Getting rid of the notebooks and moving to laptop based study will help in getting rid of text books. No more lugging around 50 pounds worth of paper. Teachers will not have lectures anymore; instead they will have multiple study guides and utilize our Internet resources to find information. Text books will now be online, where students can quickly lookup parts of reading or study guides in a matter of minutes. Notes will be in the form of think bubbles where student will type their notes and make them so they can truly understand what is being taught. This is extremely suitable for students for the reason that, it can help them simplify complex operations, such as converting numbers to charts by using excel processor, spell/grammar check, and office PowerPoint as a visual aid for presentations. This laptop initiative can expand student’s horizons by exposing them to new concepts and information, such as virtual tours and simulations. Several individuals, who disagree on the whole laptop idea, think that students would take advantage of the internet access by constantly being on Face book, Twitter, or YouTube. In reality, this is no where true. There are already blocks in place to keep students off of restricted web sites, and with these laptops, the tech administrators will know exactly who is using the computer. So there really is no downside to having laptops incorporated in classrooms. In conclusion, the entire world is changing quickly along with the rapid revolution of technology. Our society is changing as well and people are adapting to it just fine. So schools should immediately get on the laptops in classrooms project because, technology is going to be in our everyday life soon, and we need to start teaching computers and word processing at a young age and incorporate it into everything we do. I mean why not? It has been proven to better our student’s productivity, accountability, as well as their convenience. How to cite Laptops in Schools, Essay examples

Advantages and Disadvantages of a Company-Free-Sample for Students

Questions: 1.Importance Of Accounting to the Owners And Operations Manager. 2.Describe How the Operations Manager Should Record Financial Transactions. 3.Discuss about the Advantages And Disadvantages Of a Company. Answers: Introduction The primary function of accounting in business is to assist both internal and external stakeholders to take sound business decisions by presenting them consistent financial information. The present report revolves around a Melbourne based company named Advanced Food Services which is faced with the problem of ineffective accounting method due to which it is losing considerable amounts of stock and money. The answers provide recommendations about how the owners (Smythe and Alba) and the Operations Manager (Jimmy) can bring the business back on track 1.In simple words, Accounting is defined as the practice of recording, summarizing, evaluating and reporting financial transactions of a company. Accounting is considered to be the most critical functions of any organization. In fact, it is usually known as the Language of Business (Porter and Norton, 2008). It is important for the owners and Operations Manager of Advanced Food Services to understand that adopting proper accounting methods will provide them quantitative information of economic nature which in turn will help immensely in decision making. Currently, no proper records are maintained by anyone in the Melbourne based company. However, if Jimmy or the two owners start keeping accounting records, then the outcomes of their operations and financial position will be in front of them in a systematic manner. Both the owners and Jimmy will be able to take due care of their cash requirement and working capital with the help of a sound accounting system (Bragg, 2011). Effective business accounting guarantees timely recording of liabilities that need to be paid within the specified timeframe. All businesses require exchanging money with their consumers and investors. If the business owners neglect maintaining records of expenses, then they are likely to find themselves trapped in financial problems sooner or later. An accounting system will help them maintain proper cash outflow and inflow for determining the cash in hand. As the owners and Jimmy do not track their expenditure, inventory and sales, it is becoming impossible to get a clear impression of whether the company is earning a profit or not (Ernst Young LLP, 2017). However, if they use GAAP, they can easily track their transactions and prepare their financial statements. GAAP will help them in achieving consistency in their appearance of financial details. These accounting principles require that the company uses the same standards from one accounting year to the other, which encourages us ability and consistency of the statements. For instance, moving from the FIFO inventory accounting technique to the LIFO without prior notice can confuse users and the owners too (Narayanswamy, 2014). Likewise, consistent bad debt accounting and revenue recognition techniques impact internal decision making. As business involves regular operation and requires maintaining records of all these transactions, statements prepared in accordance with GAAP are not just for a particular period of time but also maintained on a daily basis. GAAP also increases the comparability of financial reports by standardizing accounting methods. The owners and Jimmy can compare their financial records belonging to distinct periods against the statements of similar companies of the same sector (Lev and Gu, 2016). Clearly, Smythe and Alba (the owners) and Jimmy (Operations Manager) are not following either proper accounting methods or GAAP standards. Merely keeping a box of receipts and payments are going to turn the month end accounting into a cumbersome process and increases the probability of omission and duplication. Formal record keeping is imperative for the smooth functioning of Advanced Food Services. 2.Financial statements are recorded by operation manager through double entry system. The double entry system of bookkeeping and accounting refers to a method in which each transaction consists of two or more than two accounts by giving equal effect to debit and credit side. The profit or loss is calculated with the help of double entry book keeping the system in an accurate manner by preparing the profit and loss account for a given period of time. The system of double entry book keeping will also assist in disclosing the information of businesss financial position with the help of balance sheet (Bragg, 2011). Operation manager is required to make use of mainly five types of accounts in the accounting records which are: - liabilities, assets, equity, expense, and revenue. Operation manager can compute profits with the use of income statement. Profit and loss account is another name for the income statement (Narayanswamy, 2014). The formula for income statement is: Revenues Expenses =Net Income For survival, all businesses are required to make profits, to pay off expenditures, interests on debts and taxes. After paying off all operational, the amount left is net income. It is significant to maintain income statement as it helps in calculating profits and shows the financial profitability of business during a specific period of time. PL account is used universally by accountants and managers. An example of some crucial transactions for business is enumerated as below: Cash transactions It includes cash recipes and cash disbursement. At the end of the month, operation manager must settle the bank account regarding any omission or outstanding transactions such as, if the company signs a cheque, it must be immediately recorded in the accounting records, though it might be not cleared by the bank at the end of the month it is still outstanding (Bock, 2010). Accounts receivable This amount is the due amount of customers which the company has to receive from them. The information of these accounts is recorded in sub ledger, and it must be settled to the accounts receivables listing for the assurance of balance amount (Gupta, 2012). Accounts payable These transactions generally show money payable by the company to the suppliers. It is inclusive of amounts due to employees or to taxes which are payrolls or HST. It is significant to settle these accounts and make sure that what to record regarding the existing continuing obligations (Aylen, 2012). Sales transaction It records the income generated by a business by selling its services and products. This will include cash as well as credit transactions by considering relevant accounts. 3.In Australia, the most usual types of company are: Public companies (normally formed for raising or borrowing public money by listing its shares to be traded on the stock exchange) Proprietary limited companies (which are not entitled to raising money from the public through issue of shares) (Sinha, 2016) Given the owners interest in expanding the business by turning it into a company, the most feasible option is to form a proprietary limited company. The advantages of doing so are listed below: Limited Liability The most apparent advantage of forming a limited company is that it brings financial security with it. The shareholders of the company are not accountable for any debt which is accrued by the company beyond the extent of their own investments. This will give a feeling of security for the investors (Bock, 2010). Separate Entity Because of its very nature, a proprietary limited company is seen as a different legal entity and has a separate existence from its owners. This has many benefits, including the fact that the organization has perpetual existence and the death of any member will not cease its existence. This ensures the security for other members and employees and is also a benefit which other forms of businesses are not entitled to (Burton, 2012). Taxation and tax-related advantages The Limited Liability company will only be taxed on its profits and is not subject to any greater tax rates levied on partnerships or sole traders. There are many ways in which the limited company can be used for the benefit of the members and their interests. By forming and operating a limited company, the members are entitled to pay themselves the minimum wage levels. This enables them to reap benefits of personal allowance. There is also the benefit of paying yourself in dividends rather than in the form of pay packets (Aylen, 2012). Ownership and Control In the case of Proprietary Limited Companies, the Directors are also the main shareholders of the company. Hence, the control and ownership of the business stay with them. Decisions could be taken easily and quickly with little mess, enabling more efficient business management (Lev and Gu, 2016). It is advisable that Smythe and Alba expand their business by turning it into a Proprietary Limited Company because of the above mentioned advantages. However, they should consider the following disadvantages before taking the plunge: Cost A limited company is costly to set up. Complex accounts The rules governing bookkeeping and accounting of a company are more restrictive and complex as compared to a sole trader. Restricted capital raising There is a restriction on capital raising through the issue of shares. Hence, though Smythe and Alba can expand their business by forming a company, they will have to be careful about their accounting methods (Sinha, 2016). Conclusion It is evident that the problems being faced by Advanced Food Services can be mitigated by following appropriate accounting methods and complying with GAAP. Moreover, as the advantages of forming a company outweigh its disadvantages, they should consider turning their business into a company References Aylen, J., 2012. Starting and Running a Small Business For Canadians For Dummies All-in-One. John Wiley Sons. Bock, M., 2010. The Advantages and Disadvantages of Relationship Management. GRIN Verlag. Bragg, S., 2011. The New CFO Financial Leadership Manual. John Wiley Sons. Burton, K., 2012. Business Skills All-in-One for Dummies. John Wiley Sons. Ernst Young LLP., 2017. International GAAP 2017: Generally Accepted Accounting Practice under International Financial Reporting Standards. John Wiley Sons. Gupta, P., 2012. Principles of Business Financial Accounting. AuthorHouse. Lev, B. Gu, F., 2016. The End of Accounting and the Path Forward for Investors and Managers. John Wiley Sons. Narayanswamy, R., 2014. FINANCIAL ACCOUNTING: A Managerial Perspective. PHI Learning. Porter, G. Norton, C., 2008. Financial Accounting: The Impact on Decision Makers. Cengage Learning. Sinha, D., 2016. Advantages and Disadvantages of a Company Form of Business Explained. [Online]. Available through: https://www.yourarticlelibrary.com/company/advantages-and-disadvantages-of-a-company-form-of-business-explained/40801/. [Accessed on 18th August 2017]