Organization management Essay Example for Free

Organization management Essay Contents Click to go to section: The organizational problem. The Organizational Development intervention they wanted. The thinking behind the design of the OD intervention. The constraints I needed to work within. The tools I decided to use in the one day workshop. The workshop design. How I used the change puzzle kit. The end result Top Drag Me Contents Click to go to section: The organizational problem. The Organizational Development intervention they wanted. The thinking behind the design of the OD intervention. The constraints I needed to work within. The tools I decided to use in the one day workshop. The workshop design. How I used the change puzzle kit. The end result The organizational problem. I was called into a hospital by their HR manager. The hospital needed to improve 1 of 7 4/9/2013 2:36 PM OD interventions case study. An employee morale problem. file:///C:/Documents and Settings/staff/Desktop/OD interventions case stud morale amongst its nurses. But as I spoke to different stakeholders, the issue became more complex. The HR managers told me that morale amongst nurses was at an all time low. At the same time the hospital was trying to change its culture to become more patient and profit centric. It started off as a morale problem. But as I spoke to different stakeholders, it becam e more complex. The matron of the hospital was concerned about the poor relationships between the nurses, their unit managers and the doctors. The unit managers were upset by the way that doctors by-passed them and shouted at their nurses. The nurses and their managers blamed arrogant doctors for the poor morale in the hospital. The CEO was concerned that the doctors, who he saw as clients and partners of the hospital, were not happy with the service they were getting. The doctors, chose to locate their independent practices at the hospital, but had the freedom to take their business to another hospital, anytime they wanted. Losing specialists to competing hospitals would affect his hospitals brand and offering as well as its profitability. He was also tired of being the only leader in the organization, and wished that the managers would begin to take responsibility and act like leaders. The Organizational Development intervention they wanted. The CEO, matron and HR manager all agreed that they wanted a one-day workshop for all internal managers in the hospital. They wanted the workshop objective to be: To help the managers to develop a common focus regarding what they would need to do as a united team, over the next 18 months. The thinking behind the design of the OD intervention. I knew that I had to provide far more than what theyd asked for in their workshop objective. And far more than even the problems they had briefed me on. In choosing my design for the workshop, I needed a tool that would: Build trust. Allow the managers to vent their frustrations in a way that allowed every manager to be heard. But not in a way that would degenerate into a negative gripe session about the doctors. Get the managers to see all the problems facing the hospital not only their own problems. Get the managers out of the habit of blaming doctors or the hospital for problems that they could resolve themselves. Get them to take responsibility and begin acting as leaders. Get them to stop seeing themselves and their nurses as being victims of the arrogance of doctors, and to start seeing the doctors as important customers of the hospital. Support the move to a patient centered and profit oriented culture. Help them to identify the most important issues that they as a leadership team need to deal with. Help the managers to develop a common focus for the future. One that not only solved their frustrations, but one that would make them excited 2 of 7 4/9/2013 2:36 PM OD interventions case study. An employee morale problem. file:///C:/Documents and Settings/staff/Desktop/OD interventions case stud about their future in the hospital. Help the managers to identify the core changes they would need to make to achieve the future they wanted. Help them identify projects that would help them to implement those changes. To do all of this in a way that would build a leadership team. One in which team members take responsibility and support one another. The constraints I needed to work within. The hospital could only afford the time for a one-day workshop. There would be 32 people in the group. In this workshop, the process would be as important as the content. Therefore the way in which the group developed their own solutions, was as important as the solutions they developed. We needed a process that would encourage participation, buy-in, ownership, build the managers confidence and energize them. The tools I decided to use in the one day workshop. 1. The main tool I used was The Change Puzzle Kit I had one kit for each group of 8 delegates. Each kit consists of: Two laminated charts. (A1 size). The first chart is called The Organisation Of Today. The second chart is called The Ideal Organisation Of The Future. The design on each chart is of the organization as a puzzle comprising 20 organizational development pieces. The organizational development tool I chose for this complex OD intervention was The Change Puzzle Kit. A set of water soluble pens which allows the delegates to write directly onto the laminated charts. The charts can be wiped clean and used again. A box of clue cards to help the groups think about the 20 organizational elements from an Organizational Development and systems thinking perspective, as they complete their charts. 2. The secondary tool I used was a single activity from The Powerful Facilitation cards. These workshop activity cards are designed like recipes. They provide detailed workshop activities to achieve specific workshop goals. I chose a card that helped a group to create a vision in a way that created fun and positive energy. The workshop design. I chose The Change Puzzle Kit because it allows a group to do the complex systems thinking they needed to do to solve their own problems, in a very practical and very participative way. This is the process I followed. To ensure that everyone could participate, I divided the larger group into 3 of 7 4/9/2013 2:36 PM OD interventions case study. An employee morale problem. file:///C:/Documents and Settings/staff/Desktop/OD interventions case stud 4 groups of 8 delegates per group. These groups were mixed to provide as much variety as possible. We mixed the groups so we had different functions (HR, marketing, administration nursing), and people of different ages and races working together in each group. Each group had their own change puzzle kit to work with. I used this diagram to explain the process we would be following which was: We would take a systems thinking photograph of the hospital as it was today with all its frustrations and all its strengths. To do this we would use The Organisation of Today charts and cards. We would do a right brained exercise to look at what the hospital would be like 3 years into the future, if it was delighting its patients, was profitable, and a place where the managers would be proud to work. We would translate that right brain vision of the future back into left brained, systems thinking. We would look at the elements that would need to be in place for that vision to work. To do this we would use The Ideal Organisation Of The Future charts and cards. We would then compare what came out of our two charts. From this, we would choose a few core changes. Changes that would help us to solve the most important of todays problems, and move us towards the future we wanted. We would then create some projects to make achieve these changes. How I used the change puzzle kit. Step 1. Provide an overview of the change puzzle The attention span of most groups for listening to a presentation is less than half an hour. So, to keep the groups attention, I provided a very quick overview of the charts and clue cards they would be using. Step 2. The groups analyze their organization as it exists today using The Organisation of Today charts and cards. 2. 1 Instructions: Each group was given the chart The Organisation Of Today plus the 20 clue cards about the current organization. They were also given a set of water soluble pens. They were asked to write on their chart how they saw their hospital today in terms of each puzzle piece or OD element. They could use the clue cards to help them. Each person was encouraged to write how he/she viewed the situation independently of their group as the group didnt need to achieve a consensus. I also explained that some people see things in a positive light, others in a negative light and others prefer to put down facts. All of these views were equally valuable. 2. 2 Activity: Each group spent about an hour recording their answers. Then instead of having formal feedback, each group simply read what the other groups had written on 4 of 7 4/9/2013 2:36 PM OD interventions case study. An employee morale problem. file:///C:/Documents and Settings/staff/Desktop/OD interventions case stud their charts. This was to prevent a very tedious feedback process and potential conflict. 2. 3 What came out: The three groups were surprised that they had similar responses. For example: They felt their roles were not clear enough. They were too rank obsessed. They felt doctors had too much status and that they needed to be empowered more. There was too much gossip. People operated in cliques. No one was taking responsibility. They felt they needed to acknowledge one another more. They wanted to create a culture where people dont feel intimidated when someone shares skills. But most of all, they were surprised by how much negativity came out. Surely there are some good things too? One person asked. 2. 4 Why this happened: Their common responses were due to two design factors the mixing of the groups, and the systems thinking behind the design of the chart they used. Negative responses are common amongst groups when they analyze their current situation. Groups are more positive when they create their own future. Step 3. Groups develop a vision of the future. I used a creative activity from the Create fun and energy section of the Powerful Facilitation cards. I needed to turn around the groups energy from negative and powerless, to positive and creative. I also needed the groups to develop a vision of their future, which was far more creative than simply that of solving their frustrations of today. As they developed their right brain picture of the future hospital, the groups became energized. Alive. Full of fun. They began laughing. They worked well as a team. They started coming up with brilliant ideas of how they could add value to the doctors, and earn their respect. They created slogans for themselves showing how they would care for their patients, their doctors and one another. This was the turning point of the workshop. Step 4. Groups complete The Ideal Organisation of the Future charts. 4. 1 Instructions and activity I remixed the groups so that each of the four visions were now represented by members within each new group. I then asked the groups to complete the Ideal Organisation of the Future charts. In doing so, I asked them to think about what would need to be in place for them to be able to live their visions. I encouraged them to be creative. This is because I wanted them to come up with more than simply the opposite of the problems theyd identified in their The Organization Of Today charts. I wanted them to capture all the wonderful ideas theyd had in their right brain vision, onto the Ideal organisation of the future charts. I suggested they also look at the future clue cards to generate even more creative ideas. 4. 2. What came out What came out of this activity were wonderful positive ideas that not only solved the problems theyd identified in their organization of today charts, but started achieving all the objectives Id hoped for when designing the workshop. For example, in order to clarify roles, they though of having a monthly picture board, entitled meet the team. They decided to have a day where they would 5 of 7 4/9/2013 2:36 PM OD interventions case study. An employee morale problem. file:///C:/Documents and Settings/staff/Desktop/OD interventions case stud change roles with one another. They decided to have a programme where as managers, they would go back to the floor for a day, to better understand some of the issues that both nurses and doctors faced. They would visit the receptionists of doctors to find out all the doctors preferences. Then they would educate one another and their nurses on how to provide great service to each doctor. They decided that one thing that would demonstrate patient centered care, was to think of ways for caring for families of patients who came from out of town. They created slogans for themselves that demonstrated customer care. They decided to lead their teams by getting each unit to develop their own vision linked to the hospital vision. The team became quite excited about what was possible. 4. 3 Why this happened. The groups energy had already turned during the previous exercise. Building on this, we know that groups are always more positive when they are allowed to be creative, and when they focus on the future. The Ideal Organisation of the Future charts are designed in a way that combines creative thinking and a future vision. Also, by analyzing all the OD elements that would be in place to support their vision, the group could see that achieving their vision was possible and practical. This made them feel hopeful about their future. Step 5. The groups choose core changes. The group was blown away by all their wonderful ideas. But there were too many to implement all at once. They needed to apply the 80/20 principle. Once again I remixed the groups. I asked them to choose 2 changes that would: Solve the biggest problems identified in The Organization of Today charts Help them move towards their most exciting ideas in The Ideal Organization Of The Future charts. I asked them to record these changes in a From and To table. The From would be drawn from The Organization Of Today charts. The To would come from The Ideal Organization Of The Future charts. The four groups were surprised that they all came out with the same core changes. This happened because of the design of The Change Puzzle Kits which gets everyone to use systems thinking, and because we kept mixing the groups. They immediately started volunteering for projects around the core changes. The end result I then got the groups to list what theyd achieved as a leadership team during the day, and what they wanted to do after the workshop. What came out was how amazed they were at what theyd been able to achieve in one day. They left the session excited and motivated. You may also like: Case studies: A strategy implementation case study This describes a two-day workshop. 6 of 7 4/9/2013 2:36 PM OD interventions case study. An employee morale problem. file:///C:/Documents and Settings/staff/Desktop/OD interventions case stud to help an executive and management team to develop a comprehensive plan to implement their strategy. Member tools: Poor morale in the workplace a diagnostic tool Based on a complex decision tree, this powerful coaching tool provides a quick way to diagnose your particular morale problem. It provides over forty possible solutions and helps you choose the best solution for your particular problem. How to rebuild morale after an organizational restructure. 4 OD interventions to rebuild trust, focus, morale and commitment after an organizational restructure. A CEOs guide to implementing strategy What to do after youve developed a strategic plan. How to use your vision to lead an executive team. The 12 steps for aligning your organization to your strategy and getting them to implement it. Develop an innovation system that results in a cultural change. How to develop an innovation culture in your organization. Articles: Team leader skills Managing Morale Managing morale is a key leadership skill because it determines whether or not a team has the energy, confidence and commitment to perform at their best. Inspiration at work How to inspire and motivate your team at work. Practical EQ and SQ tips for leaders. Restructuring Organizations: Leadership problems after an organizational restructure. Typical problems experienced by leaders after a restructuring exercise. The role of a change agent during an organizational restructure. The role a change agent can play during a restructure. When to do strategic planning. Strategic planning as an OD intervention. Participative tools to use in OD interventions The Change Puzzle KitA powerful tool for any OD intervention that requires group participation, systems thinking or a diagnosis of a problem. Powerful Facilitation CardsA set of OD activities to choose from to use in your OD intervention workshop. Winning the Game of Change A powerful planning tool for developing an OD strategy for your organization, or for helping your executive team to plan to implement their strategy. Contains 20 cards covering the major OD interventions. 7 of 7 4/9/2013 2:36 PM.

Study on Saint Gobain Mirrors Essay Example for Free

Study on Saint Gobain Mirrors Essay INTRODUCTION Saint-Gobain Glass is a leading Glass Manufacturer in India and manufactures a range of Reflective Glass, Solar Control Glass, Green Building Glass, Interior glass, Fire resistant glass and Advanced Glass Solutions. Their reflective glass range includes mirror glass with a maximum sheet size of 3210 x 2000mm and a thickness of 5mm. Coating on Saint-Gobain mirrors is applied with a revolutionary new process which replaces copper, the origin of corrosion in mirror, with a highly sophisticated multiple level chemical treatment. In this process, the silvered layer is applied on the glass by a chemical method also knows as the wet film method. To reinforce the adhesion of this layer, a preparatory surface treatment of the glass is done by sensitization followed by passivation. The silvered layer is then treated to endow it with anti-corrosion properties and to improve adhesion of the paints. CHARACTERISTICS OF MIRROR IN B2C Characteristics It has superb lustre, and a perfectly flat surface ( in the case of flat mirrors) which gives a distortion-free image reflection. Mirror uses high grade float glass as its base and it is manufactured under an automated process, thus giving superb quality mirror. Also, mirrors find different applications due to their ability to be moulded into concave and convex shapes apart from the usual flat surfaced mirrors. Applications 1.Cosmetic mirrors of appropriate size and designs for homes. 2.Internal use of wall surfaces, ceilings and pillars for general household usage, shops, offices and departmental stores. 3.Furniture and interior decorations. 4.In a small way, mirrors of smaller dimensions are also used by fashion  designers and tailors for dress designing. CHARACTERISTICS OF MIRROR IN B2B Characteristics Mirror manufactured under the automated process has a silver membrane which is protected by a copper plated layer, and finally sealed with an oven baked paint coating. The silver membrane is fully protected, this providing long lasting performance and durability. Applications Use of Flat Mirrors: †¢Mirrors are used in washrooms of restaurants, in bars, hotels, jewellery shops, beauty clinics, nightclubs and theatres †¢They are also used in sports and leisure centres, gymnasiums and swimming pools. Use of Concave Mirror: †¢Concave mirrors are used in vehicle headlights to focus the light from the headlight. The light is not as diffused and the driver can see better at night. †¢Concave mirrors are used to focus light for heating purposes. †¢They are used as dentists mirrors to magnify the image of patients’ teeth to facilitate the examination. †¢Used in some telescopes. Convex Mirror Uses: †¢Used in rear-view mirrors of vehicles. These mirrors make objects appear smaller than they really are. Due to this compression, these mirrors to reflect a wider image area, or field of vision. †¢Convex mirrors are often placed near ATMs to allow bank customers to see if someone is behind them. This is a security measure that helps keep ATM users safe from robbery of any cash withdrawals and helps keep ATM users identity more secure. †¢Large hospitals, stores and office buildings often use convex mirrors to allow people to see what is around a corner to help keep people from running into one another. †¢ Ceiling dome mirrors are ideal for surveillance in shops, offices and industrial environments. They allow someone to watch what is going on in a wide area and allow shopkeepers to spot thieves and vandals †¢Portable inspection mirrors can be used for security and safety purposes.  They are widely used by security firms and the military. MARKETING MIX FOR B2C MARKET A mirror is used at home in various ways like compact mirror for personal uses, in bathrooms and mostly by women for their personal styling. This is not a frequent buying in case of B2C market because replacement time is long in case if it does not break. Product This component deals with a mirror as a product for a consumer i.e. what are the different features he/she expects. In this case, it can be 1.Design of the mirror i.e. horizontal or vertical according to the use, large wall or small wall mirror, frameless or framed mirror. 2.Variety of the mirror like plastic lining, silver lining, copper lining or wooden lining along the borders. 3. Quality would be that it should be very clean and clear and showing the real image without hiding any imperfections, edges must be fine. 4. Durability i.e. must be resistant to corrosion. 5.Features would be like it must be unbreakable, come with a supporting stand in case of a home use if small size 6.Size, for example- small in case of travelling i.e. should be portable and also foldable, leaning mirrors and floor mirrors 7.Packaging, in case one is buying from a luxury cosmetic brand, then packaging comes into picture because in that case they would be expensive such that it reaches safely while transporting from one place to other. Brand, Services, Warranties and Returns does not matter much in B2C market for consumers if it is for very regular purposes but if it is for decorative purposes and for high end customers , it matters a lot. Price The price depends on the size of the mirror and whether the product is from a local i.e. not known company or it is from a branded high-end company exclusively for decorative purposes at home. A customer does not quote any price but only negotiates on the price offered by the retailer. If we talk about small mirrors used at homes or bathroom mirrors, then price is not a  concern but in case of high end mirrors like lining mirrors with silver, copper and metal etc., the price is worth negotiating because they are expensive and both the ends want the best price. There are some companies which also customize the mirror according to the individuals use i.e. shape, size, type of mirror etc. For example-a frameless wall mirror will cost between 10000/- to 20000/-, small wall mirrors vary from 4500/- to 12000/- but if expensive linings are used it increases, large wall mirrors can go from 5000/- to 90000/-. These are the list prices of the mirrors but the consumer expects some discounts on it like 10-20% and in case if a consumer is buying an expensive mirror , say of 1000000/-, then he/ she can get it on credit terms like half down-payment and rest at the time of delivery. Promotion The promotion strategies adopted are not that aggressive in terms of television commercial in the mirror market. One will hardly find any advertisements in newspaper regarding mirrors. So, advertisements are mainly done online; the price, quality and features are mentioned on the websites through which order can be placed. Another kind of promotion is done by word of mouth like if one customer is satisfied with the product which may help in building the chain of customers. The Sales force plays an important role here because a customer does know about this much when he/she enters a mirror store, the only things they look after are the shape and size of the mirror, after that the conversion of a prospect into a buyer is dependent majorly on the sales force because the inside information is little to the customer. Now comes Sales promotion, under which different scheme are introduced to increase the buying. For example it can be like- Buy two and get 20% off on the third purchase or with every mirror worth a particular price get a cleaner free etc. and public relations also matters for small as well as luxury end companies as it is what brings the customer back for repetitive purchase. Place The place component deals with channels, locations and transport of the mirror. As availability is the most important factor, it is done through channels like online buying (open a website, browse the catalogue and order  it by online payment and in that case transportation mishandling, breakage will be managed by the company) and this buying mostly happens for expensive mirrors, nearby store which includes wholesalers/retail shops for small/large household buying dealing in furniture where inspection can be done; general stores for cosmetic uses. Transportation is important, which means the time in which the delivery will be made after an order is placed. MARKETING MIX FOR B2B MARKETS Product Functionality: †¢As interior decorative glass in common areas of public and private buildings: entrance halls, landings, etc. †¢In bars, restaurants, hotels, jewellery shops, beauty clinics, nightclubs and theatres. †¢For panelling on walls or doors and on furniture and shelves. †¢As mirrors in sports and leisure centres, swimming pools. †¢Car rear-view mirrors and side mirrors. †¢In single-lens-reflex (SLR) cameras. †¢Dental mirrors. †¢Magnifying mirrors in makeup kits and compacts. †¢Searchlights, floodlights, and spotlights (used in theaters). Quality: †¢Durability: Mirrors must be resistant to corrosion, particularly in humid conditions. †¢Clarity: Clarity is an important criterion that determines the quality of a mirror, and is indicated by the sharpness of the reflection seen in it. This in turn depends on the base glass on which the mirror is made. †¢Distortion-Free: Distortion in a mirror occurs due to inconsistencies, impurities, irregularities and heterogeneity in materials used to produce the base glass. †¢Eco-friendly: Mirrors must use metals that do not pollute the environment. Packaging: Mirrors sold to businesses are made available in various dimensions of length and breadth, along with options of form (such as required degrees of convexity, concaveness). Warranty: Mirrors come with a limited period warranty of being free of black edge defects resulting from improper production for a limited period after delivery to the immediate customer. The limited warranty of the mirror product are void if: †¢Broken †¢Mishandled †¢Improperly Installed †¢Exposed to foreign materials or solutions such as but not limited to cleaning products or painted walls. Services offered: This includes cutting, polishing, bevelling, and sometimes installation also. Price Mirrors are priced on per square foot basis. These dimensions are as per the buyers requirements. Also, the pricing depends upon the quality of the mirror, its thickness, weight, and flexibility of beveling the edges. Price quotes are taken from the buyer depending on their requirement. Wholesale pricing with discounts and bulk purchase discounts are provided on an individual basis. Also there great scope for buyer negotiations as there are several competitors in the market. The company will have to ensure that the prices are competitive enough to lure the client but at the same time be high enough so as to not make losses. Therefore, since they ae not operating in a monopolistic market, price is a variable they have to be careful on. Place Availability is more prominent on the online media these days. Catalogues can be browsed and orders can be placed at the seller’s website. This form of buying is most common. Also, buyers can go and personally inspect mirrors at the manufacturers/wholesalers outlet. Promotion Advertising: It is mostly done online. The variety and quality of the seller’s offering is mentioned on the websites. Placement of orders is through online forms. Promotional strategies: Manufacturers provide e-catalogues on their websites along with the sale offers and discounts that they decide on bulk purchases. Also, catalogues are sent to prospective buyers when a seller learns of the buyers intention of procuring a bulk purchase. Servicing and warranty terms are particularly mentioned as a part of the promotional strategy of a seller, as it becomes a major decision-making criterion for the buyer. B2B OR B2C? Saint Gobain Glass, India is a subsidiary of Saint Gobain France which has been in the industry since the 1600s. This being a fairly long period of time, they have managed to carve a niche for themselves in the glass industry. Though the mirror industry is only an off-shoot of the products they basically make, i.e., glass, they rule the B2C premium segment mirror market. There are a lot of local players in the industry as well. When a middle income group customer goes to buy a mirror, he would not be much bothered about the ‘brand’ of the mirror. His concern would rather be value for money and features like no distortions of images, good glass thickness, designs and varieties. Hence, his obvious choice would be something that would last for a long time, is sturdy but at the same time, is price effective. There are very few customers who can actually afford these mirrors and who consciously want to buy ‘a Saint Gobain’ when they look for a mirror. The price factor is definitely the decider when it comes to pitching these mirrors against the locally available ones. On the other hand, entering into contracts with real estate builders, interior decorators, vehicle manufacturing companies, dental equipment manufacturing companies etc, might prove to be more profitable for them since these would be repeat buyers and also the profits would come from the selling greater quantity of mirrors rather than pricing them higher, in order to achieve the  same revenue. Though the customer buying power seems to be more, the use of supreme technology for achieving unbeatable quality would ensure that the customers stick to them and build a long – standing mutually beneficial relationship. Therefore, the team is of the opinion that B2B MARKET would be better for the Saint Gobain Mirrors.

Impacts on the Retail Fuel Price in Malaysia

Impacts on the Retail Fuel Price in Malaysia Background description of retail fuel price in Malaysia According to the local news on 7 March 2013, the retail price of RON 97 will be RM2.90 per litre when it was previously RM2.70. Meanwhile, the retail price of RON95 remains unchanged as it is subsidized by the government. In May, a 20 sen drop incurred for RON 97 per litre. There was no change in price for RON 95 and diesel. On September 2, 2013, Malaysia’s Prime Minister, Datuk Seri Najib Razak announced that the price of diesel and RON95 petrol would increase by 20 sen (Bridel Lontoh, 2014) joining neighboring Indonesia to threaten investor confidence besides curbing in subsidies (Chong, 2013). There was a 20 sen price incremental to 2 Ringgit per litre for diesel and the new price for RON 95 is RM 2.10 per litre from RM 1 (Lim, 2013). â€Å"The hike was to prevent financial leakage and misappropriation of the subsidised fuel,† said Tun Dr Mahathir Mohmad, reportsBernama (Phung, 2014). The retail price of RON 97 continued to increase by 15 sen (Lim, 2013). In November, the price of RON 97 had gone down to RM2.75 per litre from the existing RM 2.85 per litre (Lim, 2013). On the first month of 2014, the price of RON 97 went up 5 sen to RM2.80 per litre. Another 5 sen was incurred for the price of RON 97 in the following month. In March, the previous price of RON 97 brought up with a new retail price of RM2.90. The RON 97 price decreased with a 5 sen to RM 2.85 per litre. (Lim, 2013) On 9th September, the price of RON97 dropped by 10 sen to RM2.75 per litre. (Lim, 2013). Royal Malaysian Customs Department senior assistant director Ishak Daud toldSin Chew Dailythat there is an addition of 80 to 85 zero-rated items. Prime Minister Datuk Seri Najib Razak announced that diesel and LPG will be exempted from the Goods and Services Tax (GST) taking effect in April 2015 (Tan, 2014). The prices for RON 95 petrol and diesel will slightly increase by 20 senon 2 October, announced by the Ministry of Domestic Trade and Consumer (Sze, 2014). The Sun reported that Political party PAS urged for an increase in price for both petrol and diesel, to allow petrol station operators compete with each other (Lim, 2014). Theprices of petrol and diesel were indicated to drop until January of next year (Lee, 2014). In short, the graph in 2013 shows there’s an upward trend for Ron95 and diesel where there’s a rise in 20sens on 3 September. However, the fuel price for Ron97 fluctuates between a low of RM2.70 and a peak of RM2.90 before ending at RM2.75 at the end of the year. In 2014, there was a plateau in fuel price for Ron95 and diesel from January to September and then it increase gradually. For Ron97, the fuel price rises since January but then fell gradually after June. Fuel price in Malaysia between 2013 to 2014 (Galvin, 2015) Date Ron 97 (RM) Ron 95 (RM) Diesel (RM) 10 Jan 2013 2.70 (-0.05) 1.90 ( ) 1.80 ( ) 7 Mac2013 2.90 (+0.20) 1.90 ( ) 1.80 ( ) 22 May 2013 2.70 (-0.20) 1.90 ( ) 1.80 ( ) 3 Sep 2013 2.70 ( ) 2.10 (+0.20) 2.00 (+0.20) 5 Sep 2013 2.85 (+0.15) 2.10 ( ) 2.00 ( ) 14 Nov 2013 2.75 (-0.10) 2.10 ( ) 2.00 ( ) 8 Jan 2014 2.80 (+0.05) 2.10 ( ) 2.00 ( ) 7 Feb 2014 2.85 (+0.05) 2.10 ( ) 2.00 ( ) 7 Mac 2014 2.90 (+0.05) 2.10 ( ) 2.00 ( ) 6 Jun 2014 2.85 (-0.05) 2.10 ( ) 2.00 ( ) 9 Sep 2014 2.75 (-0.10) 2.10 ( ) 2.00 ( ) 2 Oct 2014 2.75 ( ) 2.30 (+0.20) 2.20 (+0.20) 19 Nov 2014 2.55 (-0.20) 2.30 ( ) 2.20 ( ) 1 Dec 2014 2.46 (-0.09) 2.26 (-0.04) 2.23 (+0.03) Note: Ron 95 and diesel are subsidies by government, while pricing of Ron 97 is determined according to market forces. Ron 92 remains at RM1.70 since 16 Dec 2008 Determinant for retail fuel price Demand and supply of crude oil   Ã‚   The world’s biggest economies such as the United States, consumes most oil in the world. The other world’s largest oil consumer includes Japan, Canada and South Korea (Gethard, 2008). However, the country that plays the biggest role in oil consumption is China. In 2013, China surpassed the United States becoming the worlds largest importer of crude oil as they took up one-third of growth in the global demand (Eia.gov, 2014). As China is currently a dynamic and fast-growing economy, China’s demand and usage of oil grows rapidly. The development of the country’s economy can be seen in China’s increasing number of factories and growth in number of people driving cars (Wagner, 2008). As China economy starts developing rapidly only these recent years, their oil reserves are not as much compare to other developed economies like the United States who had reserved oil for many years, thus China’s has extensive demand for oil from the global market. T his increased demand has contributed to the rise of global crude oil price which has indirectly raise retail fuel prices in Malaysia. Organization of Petroleum Exporting Countries (OPEC) is a body that has great influence over the worldwide price of oil which compriseof 12of the worlds largest oil producing nations (Gethard, 2008). Since there is a shortage of the worldwide oil production, OPEC as the biggest oil supplier reduces the amount of oil contributed to the world market and manipulate the selling price of oil per barrel. Besides, political conflicts in Libya sustains its crude oil production further leading worldwide oil supply to decrease (Batovic, 2014). With uncertainty of supply, countries compete with each other for crude oil supply and this rising demand increases the price of crude oil. The global market now has to pay at a higher price for the same amount of oil. As the cost of purchasing crude oil price increases, the Malaysia government increases the retail fuel price to the citizens. Foreign exchange rate Because the world crude oil price is set in US Dollars, the conversion of world oil price into Malaysia ringgit changes every day in the foreign exchange rate market. Suppose there is a fall in Malaysia’s ringgit against the US dollar on the world currency exchanges, Malaysia has to pay more to purchase the same amount of fuel from the global market. Example the increase from US$1.00 = RM3.50 to US$1.00 = RM3.75 indicates a depreciation in Malaysia dollar. As the cost of purchasing crude oil increases, this implies citizens have to pay more for the same amount of fuel too. The foreign exchange rate is constantly monitored by the Malaysia government before determining the retail price of fuel. Therefore, the retail fuel price often fluctuates. Subsidy The changes in retail price of fuel depend on the provision of subsidies by the government. If the government provides subsidies for fuel such as the Ron95 and diesel, the price is cheaper compare to the price of Ron97 which is not subsidies. In 2013, MYR 24.8 billion (US$7.9 billion) was allocated to fuel subsidies. The government argued that the subsidy reduction would save at least MYR 1.1 billion (US$349 million) by the end of 2013 (Lee, 2013). The cost saved in subsidies would be channeled into the BR1M welfare fund, said Prime Minister Najib Razak (Lam, 2013). By doing so, 20 sen was increased in the price of RON 95 and diesel starting on 3 Sept of 2013. In brief, the absence of subsidy causes retail fuel to rise in Malaysia. Effects Consumer Low oil price results in the savings cascade down into the rest of the economy in form of cheaper prices. Consumers will hence have more disposable income to spend (Parry Kemp, 2012) leading to higher purchasing power. Besides, individual who drives car can save the cost for car petrol monthly. High oil price causes consumers to have less disposable income to spend especially those with a lower income. After barely consuming the necessities such as groceries, there will be not much money left to afford the luxuries, for example, travelling with family and friends. Producer Falling oil price brings negative impact on the mining industry, for instances those extracting oil and natural gas or constructing the pipelines to move those commodities. For producers, cheaper prices mean either less profits or even losses. Thus, oil producer will supply less oil to the market until oil prices rise back. If a person is required to pay more for oil, delivered goods and others, less will be left over for discretionary spending by the consumers (Parry Kemp, 2012). Buying a new home is such type of discretionary expenditure. Hence, the producers of the housing will supply less as the demand from consumers had fall. Besides the housing producers, other sectors are also affected. As fuel is needed for transportation to deliver goods and services, higher oil price will affect the delivery sector as transportation fee is higher. Not to mention, oil producers may use this opportunity to charge a higher price on fuel to gain more profit as well. Government As oil producers are taxed by Malaysia government, when oil prices are lower, government revenues will drop. There is always measure to be taken to diminish the damage. Government can save money by reducing or removing oil subsidy. Through this, government can spend the money on other area like education, welfare of the society or development of infrastructure for the economic growth of Malaysia. Inversely when oil price is higher, the cost to build or maintain infrastructures will be higher as materials, labors, and other costs needed to build or repair infrastructures are higher. Fuel consumption for the transportation of these materials also leads to higher expenditure of the government. As government spends more money on this area, they will have to cut back expenditure on other areas such as health care and education expenses (Parry Kemp, 2012). Conclusion In conclusion, the demand and supply for crude oil, foreign exchange rate and subsidy provided by the government affects the retail fuel price in Malaysia. When oil price is low, government gain less tax revenue, producer gain less profit and consumer have more spare money to spend, where they might afford luxury goods after purchasing necessities like groceries. When oil price is high, government gain more tax revenue, producer gain more profit and consumer have less spare money to spend. If the producer loses and not gaining profit, employees might get fired, causing them to be jobless and have less money for consumption. Reference list Batovic, A. (2014). Five political risk factors affecting oil markets in 2014 Global Risk Insights. [online] Global Risk Insights. Available at: http://globalriskinsights.com/2014/01/five-political-risk-factors-that-will-affect-oil-markets-in-2014/ [Accessed 21 Jun. 2015]. Bridel, A. and Lontoh, L. (2015). [online] Available at: https://www.iisd.org/gsi/sites/default/files/ffs_malaysia_lessonslearned.pdf [Accessed 14 Jun. 2015]. calvin, d. (2015). Malaysian Fuel Price History decoding galvin. [online] decoding galvin. Available at: http://blog.galvintan.com/malaysian-fuel-price-history [Accessed 14 Jun. 2015]. Chong, P. (2013). Malaysians Brace for Austerity as Najib Cools Spending: Economy. [online] Bloomberg.com. Available at: http://www.bloomberg.com/news/articles/2013-09-16/malaysians-brace-for-shift-to-austerity-as-najib-cools-spending [Accessed 14 Jun. 2015]. Eia.gov, (2014). U.S. crude oil production growth contributes to global oil price stability in 2013 Today in Energy U.S. Energy Information Administration (EIA). [online] Available at: http://www.eia.gov/todayinenergy/detail.cfm?id=14531#tabs_SpotPriceSlider-2 [Accessed 14 Jun. 2015]. Gethard, G. (2008). How Does Crude Oil Affect Gas Prices?. [online] Investopedia. Available at: http://www.investopedia.com/articles/economics/08/crude-and-gas-prices.asp [Accessed 14 Jun. 2015]. Lam, J. (2015). It’s finally here, fuel price up tonight. New taxes next? The Malaysian Insider. [online] Themalaysianinsider.com. Available at: https://globalvoicesonline.org/2013/09/10/fuel-price-increase-divides-malaysia/ [Accessed 14 Jun. 2015]. Lee, J. (2014). Fuel prices in Malaysia to fall further – Ahmad Maslan. [online] Paul Tans Automotive News. Available at: http://paultan.org/2014/12/09/fuel-prices-malaysia-fall-ahmad-maslan/ [Accessed 14 Jun. 2015]. Lee, S. (2015). It’s finally here, fuel price up tonight. New taxes next? The Malaysian Insider. [online] Themalaysianinsider.com. Available at: http://www.themalaysianinsider.com/malaysia/article/ron95-and-diesel-price-up-20-sen-from-midnight [Accessed 14 Jun. 2015]. Lim, A. (2013). RON 95 and diesel to go up by 20 sen per litre, effective Sept 3. [online] Paul Tans Automotive News. Available at: http://paultan.org/2013/09/02/ron-95-diesel-go-rm2-10/ [Accessed 14 Jun. 2015]. Lim, A. (2014). PAS calls on govt to impose ceiling price on fuel. [online] Paul Tans Automotive News. Available at: http://paultan.org/2014/12/05/pas-calls-on-govt-to-impose-ceiling-price-on-fuel/ [Accessed 14 Jun. 2015]. Parry, G. and Kemp, S. (2012). Investigate Macroeconomics. 2nd ed. Western Australia: Tactic Publications Pty Ltd. Phung, A. (2015). Petrol price hike not to burden people, says minister | theSundaily. [online] Thesundaily.my. Available at: http://www.thesundaily.my/news/1187644 [Accessed 14 Jun. 2015]. Sze, G. (2014). RON 95, diesel prices up by 20 sen from October 2. [online] Paul Tans Automotive News. Available at: http://paultan.org/2014/10/01/ron-95-diesel-20-sen-october/ [Accessed 14 Jun. 2015]. Tan, D. (2014). GST will include petrol, not in zero-rated list Kastam. [online] Paul Tans Automotive News. Available at: http://paultan.org/2014/09/12/petrol-not-exempted-gst/ [Accessed 14 Jun. 2015]. Wagner, H. (2008). What Determines Gas Prices?. [online] Investopedia. Available at: http://www.investopedia.com/articles/economics/08/gas-prices.asp [Accessed 14 Jun. 2015].

A comparison between Roald Dahls Lamb to the slaughter and Sir Arthur Conan Doyles The Speckled Band :: English Literature

A comparison between Roald Dahl's Lamb to the slaughter and Sir Arthur Conan Doyle's The Speckled Band Murder Mystery Coursework - A comparison between Roald Dahl's "Lamb to the slaughter" and Sir Arthur Conan Doyle's "The Speckled Band For my Murder Mystery Coursework I am going to be comparing two Murder Mystery stories, "The Speckled Band," and "Lamb to the Slaughter" "Lamb to the Slaughter" was written by Roald Dahl. Roald Dahl is best known for writing children's books, such as "Charlie and the Chocolate Factory," "The Twits," and "James and the Giant Peach." Roald Dahl was born in Llandaff, Wales in 1916 and lived until 1990. Dahl was also an author of series short stories for adults, which were later made into a TV series. His stories were so popular because they were unusual. They were called "Tales From The Unexpected." One of Dahl's more popular short fiction stories for adults is "Lamb to the Slaughter." I am going to be using this story in my comparison against another Murder Mystery called "Speckled Band" by Sir Arthur Conan Doyle. Sir Arthur Conan Doyle is best known for his Sherlock Holmes stories. Although he did many more, these proved to be the most popular to this very day. Sir Arthur Conan Doyle was born in Edinburgh in 1859 and lived until 1930. The time in which Sir Conan Doyle lived, had a great influence on his work. Doyle served in the South African Wars as a doctor. This influenced him because when he returned to England he wrote "The Boer War," and "The War in South Africa: Its Causes and Conduct" which justified England's participation. For these works he was knighted in 1902. During World War I he wrote the "History of British Campaign in France," and "Flanders" as a tribute to British bravery. One of Doyle's famous Sherlock Holmes story is "The Speckled Band." This is the murder Mystery I am using to compare to Roald Dahl's "Lamb to the Slaughter" Murder Mysteries are stories that are written to intrigue you, make you wonder who has done it. They certainly live up to the title "Murder Mystery" because there is a murder and you have to find out who has done it. Typically a murderer is male, looks shifty, and has a motive that you don't find out until the end. You usually are told the story through the eyes of an inspector. They survey the evidence, but you do not always see what they do.

Perspective in The Outsiders, and A Squatters Tale Essay -- Outsiders

Webster's online dictionary of the English Language defines outsider as follows: Outsider n. 1. A person or thing not within an enclosure, boundary etc.   2. A person not belonging to a particular group, set, party, etc. 3. A person unconnected or unacquainted with the matter in question.   4. A racehorse, not classified among the best or among those expected to win. Considering these definitions of the word, "outsider," one is struck by the eclectic array of meanings.   Sometimes words have multiple meanings that are ironically linked. Are people as multifaceted as words?   The fundamental laws of social relations call upon humans to attempt to fit in and belong.   So, striving to fit in to one's family, peer group, community, and the world at large is an ongoing battle that most humans face to one degree or another.   On a larger scale, bloody battles are fought between countries, governments, and races in an effort to co-exist on the planet.   The Outsiders by S.E. Hinton and A Squatter's Tale by Ike Oguine are stories that tell of this battle to fit in, and both have characters that personify these four definitions of the word, "outsider."   These tales have dramatic themes and stylistics that in some ways are similar and in other ways unique, but they all have significant effects on the readers.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There is a common theme of violence in both stories. Obi, the protagonist in A Squatter's Tale, depicts how Nigeria has had its own history of violence.   There are sharp divisions between the rich and the poor, those in power and those being manipulated. Corruption in the government was at an epidemic level in the mid nineties.   Bribery, extortion and strong-arm tactics have become the norm.   The... ...ey are not expected to win in life.   However, one is left at the end of these stories with an undeniable feeling of optimism and assurance that Obi and Ponyboy will persevere in their struggle to overcome the obstacles in their lives.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Works Cited Coming to America. Dir. John Landis.   Perf. Eddie Murphy, Arsenio Hall,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   James Earl   Jones, Madge Sinclair.   Paramount Pictures Video,1988   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Class Film. NJIT. LIT 350-102. Spring Semester, 2002. Hinton, S.E. The Outsiders. New York: Penguin, 1967. Oguine, Ike. A Squatter's Tale.   Oxford: Heinemann, 2000. Vitullo-Martin, Julia and J. Robert Moskin. The Executive's Book of Quotations.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   New York: Oxford University Press, 1994. Webster's Encyclopedic Unabridged Dictionary of the English Language.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   New York: Random House. 1989.      

Management Chapter Quiz

Questions for Chapter 6 True/False 1. A talented entrepreneur should be able to substitute for an experienced management team. (False) 2. The size of your organization is inversely correlated to the amount of revenue your business can derive (False) 3. Hiring a salesperson is more attractive than increasing support staff in regards to revenue generated. (True) 4. Your team members can help you to evaluate feedback from outside sources. (True) 5. Over 95% of entrepreneurs in the US report that their team members are the main source of seed financing. (False) 6.A business superstar is unlikely to possess all the business skills needed for long term success. (True) 7. Analysis of your resume will help you decide what other team members your firm needs. (True) 8. Entrepreneurs who are overly conscious of their own weaknesses are more likely to fail (True) 9. The Myers-Briggs personality type indicator can accurately predict an individual’s likelihood for success in an entrepreneur ial endeavor. (False) 10. Certain personalities are better suited for entrepreneurship than others. (False) 11. Fast, dramatic growth can be a mistake for a business. (True) 12.Early stage companies tend to be hierarchal. (False) 13. Co-founders of a start-up should work on every task and decision together. (False) 14. It is more common for teams to self-destruct because of personal conflicts than for lack of funding. (True) 15. If you decide to start a venture, you should notify your current employer as soon as possible. (True) 16. After you have started a business, it is a bad idea to combine your new job with working fulltime elsewhere. (False) 17. If employees own equity in the company, they usually work harder. (True) 18. In general, founder shares should be granted to at least 10 people. False) 19. Founder shares should be distributed equally between all founders. (False) 20. It is a mistake to distribute the entire supply of options to existing employees. (True) 21. Startups should negotiate employee salaries below market levels. (True) 22. You may find an angel investor who will guide you at the early stages of your venture. (True) 23. Free resources are poor substitutes for a qualified lawyer. (False) 24. Board members should be encouraged to act in the best interest of the principal owner exclusively. (False) 25. Company culture is incredibly difficult to change after it has been established. True) Multiple Choice 1. According to study by Babson College and London Business School, businesses with growth aspirations plan on employing more than 20 people within the next: A) 2 Years B) 3 Years C) 4 Years D) 5 Years E) None of the above (Answer – D) 2. How much, according to Robert Morris and Associates, do restaurants generate in net income before taxes on average, approximately? A) 2% B) 5% C) 10% D) 13% E) 17% (Answer – B) 3. Which of the following is true about teams? A) Teams provide constructive feedback for your ideas. B) Teams incre ase your contact network exponentially.C) Teams increase your revenue. D) Teams provide you with moral support. E) All of the above (Answer – E) 4. Which of the following should the founder of the venture do first when deciding whether or not to be the CEO of his company? A) Ask for his/her friends opinion B) Take at least three personality tests C) Review his/her resume D) Work as a hired manager for at least 4 years E) Consult with his/her team members (Answer – C) 5. Individuals that possess which of the following traits are most likely to launch their own businesses? A) Overly conscious of their own weaknessesB) An aptitude for benchmarking their competitors’ strengths C) Can objectively evaluate his strengths and weaknesses D) Emphasizes his or her strengths E) Oblivious to his or her own weaknesses (Answer – E) 6. Which of the following personality traits best predicts entrepreneurial success? A) Analytical B) Driver C) Expressive D) Amiable E) None of the above (Answer – E) 7. According to Inc. 500, what percent of entrepreneurs start businesses with their friends or family members? A) Less than 5% B) About 10% C) About 20% D) Approximately 40% E) More than 65% (Answer – D) 8. What does the movie, Startup. om, demonstrate? A) How outside financing contributes to equity B) How expensive lawyers can be C) How working together can affect the relationship of two lifelong friends D) How much the government is willing to help young entrepreneurs E) None of the above (Answer – C) 9. What opportunities can a young company offer its potential team members? A) Growth into higher management positions B) Above average market salaries C) More attractive social benefits packages D) Secure and stable jobs E) All of the above (Answer – A) 10. Which of the following should an entrepreneur do when creating a venture?A) Expropriate her current employer’s intellectual property B) Use her employer’s resou rces for the new venture C) Notify her current employer about the intention to create a new venture D) Spend all her time working for the new venture E) Live off her savings (Answer – C) 12. According to the chapter, which of the following is not an acceptable means of maintaining an entrepreneurs’ personal cash flow? A) Working full-time and devoting time to the new venture B) Working part-time and devoting time to the new venture C) Living off personal savings D) Living for his/her spouses’ income E) All of the above are acceptable Answer – E) 13. Which of the following is not a reason for distributing equity among employees? A) New companies often can’t pay market rates for salary and wages B) Including some equity in the compensation package aligns the employee with the company C) The sense of ownership boosts morale D) Distributing equity among employees reduces the risk of hostile takeover E) Having some equity, he team sticks together during the rough times in the early launch phase (Answer – D) 14. None of the following tools are usually considered a reward for â€Å"sweat equity,† except: A) Founder shares B) Option poolC) Restricted stock D) Stock appreciation rights E) Phantom stock (Answer – A) 15. What are the disadvantages of distributing founder shares equally among all co-founders? A) The lack of a primary shareholder slows down the decision making process B) CEO may be doing as much work as CEOs of comparable companies, but have less potential upside C) Such distribution makes unwanted acquisitions easy D) A and B E) A and C (Answer – D) 16. Options give the holder the right to: A) Increase the number of the company shares he is allowed to purchase B) Buy a share in the company at a below-market rateC) Secure a salary increase on a regular basis D) Sell his stocks on the open market for more than the prevailing market price E) Demand a refund on his contribution to company’s equity (Answer – B) 17. What attribute characterizes â€Å"restricted stock†? A) Does not grant voting rights B) Cost less per share C) Become vested over time D) Has a reduced interest rate E) Higher liquidation priority than unsecured debt (Answer – C) 18. Stock appreciation rights of employees accrue only if: A) The stock price decreases B) Combined with options C) The employees perform well D) The stock price increases E) None of the above Answer – D) 19. All of the following is true about phantom stocks except: A) They are expensed over the vesting period B) They give employees the right to own equity C) The company needs cash when phantom stocks are exercised D) They grant the holders additional voting power E) They lower the dilution effect (Answer – D) 20. Which of the following are not mentioned in the chapter as external team members? A) Board of Directors B) Lawyers C) Accountants D) Angel investors E) Foreign partners (Answer – E) 21. What is the minimum expected level of lawyers’ fees? A) $50/hour B) $100/hour C) $150/hour D) $200/hour E) $250/hour Answer – C) 22. Inappropriate sources of members for Board of Advisors include: A) Shareholders’ representatives B) Entrepreneurs C) Individual with insights about your target customer D) Your professors E) Venture capitalists (Answer – A) 23. Which of the following is true about a company’s culture? A) A company’s culture is relatively easy to change B) As a company grows, it is common for the culture to evolve C) More team members will fit your company’s culture over time D) Problems with the team do not arise in companies with strong culture E) All elements of a company’s culture constantly change (Answer – B) 4. By making your team members work long hours, you put them at risk of: A) Burnout B) Family pressure C) Stress D) Reduced efficiency E) All of the above (Answer –E) 25. You are lea st likely to resolve an interpersonal conflict in your team by: A) Firing one of the parties B) Hiring an outside expert who is perceived as a neutral party C) Explaining to the parties involved that their arguments reduce the team’s efficiency D) Mediating between the parties E) Transferring one of the parties to another team (Answer – C) Open ended 1. Explain why solo entrepreneurs are generally less successful than team players. a.A team is able to do more than the entrepreneur can on his or her own. b. Solo entrepreneurs suffer from a number of shortcomings, including a limited perspective, little moral support, and a small network c. Solo entrepreneurs often fail to get sufficient feedback on their ideas. d. If you build your team wisely you will gain access to a broader range of contacts. e. A team rounds out the skill set needed to launch a business 2. What are some of the methods used to identify an entrepreneur’s strengths and weaknesses? a. Self-assess ment b. Conducting feedback analysis c. Talk to people who know you well and whom you respect. . Take a psychological or a personality test. 3. What valuable contributions can your team members bring to your company? a. Professional knowledge b. Money required to start a business c. Resources/contacts d. Managerial skills 4. What are some indicators of the right co-founders and team members for your start-up? a. Everyone can contribute meaningful skills to the business. b. You can work together without personal issues standing in the way. c. Your team members are excited about the venture and its future. 5. Describe the pros and cons of a dual job strategy at the early stages of the venture. a.Pros: you have a source of cash for you to live on while you are developing your idea; you can keep the job if you see that your new start-up is not progressing well. b. Cons: dual jobs mean that you have to work over nights and weekends; you cannot use your current company’s resources or compete with it until you quit; and, simply, your current job limits the time that you can dedicate to the venture. 6. Give examples of compensations used to make your start-up attractive for valuable team members. a. Founder Shares b. Option pool c. Restricted stock d. Stock appreciation rights e. Phantom stock 7.Explain the benefits, to the firm, of a vesting schedule for employee options and shares. a. Vesting basically means that people earn their shares or options over time, usually over four or more years. b. Without a vesting schedule, employees can leave the company soon after being hired and retain 100% of their options or shares. c. A vesting schedule adds additional incentives for employees to remain with the company for the entire vesting period, usually four or more years. 8. Who should you invite to join the Board of Advisors of your firm and why? a. Professors – for their fundamental knowledge b.Current and former entrepreneurs – for their practical k nowledge and experience c. Professional investors such as venture capitalists and angels – for network extension and fund raising d. Suppliers for your firm – for insights about new customer and market trends 9. Why are lawyers and accountants considered to be external members of your team? a. Your lawyer will most likely work very closely with you and will know everything about your company. Therefore, it is essential that he offers a highly customized service to you and his contributions are usually as important as those of your team members. . An accountant is a trained business professional who can help you analyze the strengths and weaknesses of your company’s financial performance. He or she may be able to find ways to improve cash flow, strengthen margins, and identify tax benefits. c. Both lawyers and accountants represent another spoke in your network, as both groups frequently have a long list of business and professional contacts. This can include eve rything from potential partners, customers, angel investor networks, and venture capital firms. 10. Three major problems your team may face are burnout, interpersonal conflicts and family pressure.Describe how you can prevent and overcome them. a. Listen to each team member, not only about the progress of their assignments, but also about the stresses they may be feeling b. You can introduce stress-relieving activities, or bonding experiences such as the Friday happy hour, or the lunchtime basketball game c. Counsel your team members to set expectations for their families even before they join your team d. Resolve interpersonal conflicts as quickly as possible or they may escalate to the point where they are destructive – mediate, hire an outside expert, or fire one of the arguing parties

Memory Essay

Autobiographic memories are known to be frequently inaccurate. In fact, when a person recalls the past, the images of real events are intermingled with events that either never occurred or are distorted so severely that there is little opportunity to recognize the true happenings in them. This occurs because of the operation of certain principles of memory that render exact memories difficult and almost unrealistic. These principles include schemas and mechanisms of interference explaining why memories can often be inaccurate and misleading. Schemas Schemas directly affect human perception of the outer world, other people. They are even more significant in the conceptualization of what one is and what one believes oneself to be. A person operating on a schema has a distinct perception of one’s own self that fits into a framework pre-specified in the schema. This framework includes a variety of attributes directly related to the life of an individual. An elderly woman could see her life as one of a devoted Christian. In such a case, she can be willing to shove away the memories that do not demonstrate such a trend in her life. Thus, she may be willing to repress memories of youthful fun that do not fit into her current beliefs and attitudes so that she could feel more comfortable about her past. This can occur not because of intended self-deception, but because of the stated schema that operates at the subconscious level. A man whose schema is that of a courageous hero will live the life based on this schema. In this case, he will tend to repress memories of his childhood episodes in which he acted as a coward or a villain, in his own current perception. Such incidents will not fit into his schema and thus are repressed as conflicting. The schema in this way governs not only what occurs in the present, but also memories of the past. Interference Interference is another powerful influence on the mechanisms of memory that makes remembrance of the past often inaccurate. It occurs because a human mind cannot store infinite amounts of information. When new information comes in, it may interfere with the older layers. Interference falls into two types: proactive interference and retroactive interference. The first kind occurs when â€Å"an older memory interferes with remembering a newer memory† (Borree, 2002). This is especially relevant to the successive study of several foreign languages when the knowledge of the previously studied language can interfere with the knowledge of the current one. Retroactive interference, in contrast, occurs when â€Å"newer memories interfere with older ones† (Borree, 2002). The latter type is more relevant to the exploration of autobiographic memory inaccuracy. When the current information conflicts with older layers, it can take precedence over them. A person who has achieved high socioeconomic status in the present may inaccurately believe that his past was also more glorious than it really was. A common occurrence is to see the harsh treatment from parents as intolerable abuse when one is consistently told, for instance, in a therapy course, that he or she was the victim of abuse. Evidence shows that â€Å"some of the people who remembered terrible things like being abused as children were discovered to have created these memories under pressure from their therapists† (Borree, 2002). When people in society are continuously being told about abuse in families, they tend to see their past in the same light, inventing instances of abuse even where they were not present. This represents a case of interference where the past interferes with the present. Repression Repression is a term that was introduced by Sigmund Freud, the psychologist who invented the psychoanalysis theory. According to him, memories can be repressed if they are too painful or disagreeable to people. Humans tend to â€Å"push painful memories out of our awareness and into a deep, dark place called â€Å"the unconscious mind† (Borree, 2002). This mechanism, too, can explain how memories are stored in places from which they are never retrieved. This distorts the real picture of the past events. Manipulation Many people with susceptible psyche can fall prey to conscious manipulation that leads to the change in their memories post factum. A skilful person using hypnosis can put them in this state. Manipulation can be used in a less conspicuous manner – through the use of specific language, for instance. The lawyer in court who uses the word â€Å"tragedy† to describe the misfortunes of the victim will force the victim to believe that he or she has indeed been through a terrible tragedy. Conclusion Distortions of events in autobiographic memory can arise for a number of reasons. Schemas, interference, repression and manipulation are just a few mechanisms that can affect human memories. In each case, the result is the distorted perception of the past reality which is influenced by the current cognitive state of the individual. Reference Boeree, C.G. (2002). Memory. Retrieved August 2, 2006, from http://www.ship.edu/~cgboeree/memory.html