Assumptions Used Cash Flow Vulcan Essay Example Pdf - Free Essay Example

Sample details Pages: 11 Words: 3250 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Delloyd Engineering Sdn Bhd (Delloyd) specializes in the production of precision metal castings that are components used in the automotive industry. The company is considering automating part of the production process by considering the purchase of the Vulcan Mold Maker, an automated molding machine. The company has proposed to allocate RM 1 Million towards investing into the new molding-machine proposal, and will make a decision on whether to retain the current Semi Automatic Machines or proceed with the investment into the Vulcan Mold Maker. Don’t waste time! Our writers will create an original "Assumptions Used Cash Flow Vulcan Essay Example Pdf" essay for you Create order The decision will be based on the net incremental cash flow projected through cash flow forecasts, along with relevant qualitative characteristics and a cost-benefit analysis. 2.0 Assumptions used in preparation of the cash flow for Vulcan Mold Maker and the Semi Automatic Machines Two cash flows have been prepared to project the estimated cash inflow and outflow associated with using the Semi Automatic Machines and the Vulcan Mold Maker for eight years. An eight-year period was chosen for both cash flows as the Vulcan Mold Maker will be fully utilized and depreciated in 8 years time. This is to ensure comparability of the net cash flow for both options available. There are a number of assumptions made and these assumptions serve as the basis for the preparation of the cash flow statement. Firstly, total sales volume need to be determined in order to calculate the cash inflow from sales. The figure used in the cash flow is RM280 million, which equals to the expected sales for calendar-year 2000, provided in the case. It is assumed that the sales figure remains constant over the years for both the machines. This is because the figure is determined by market demand for the moldings and not influenced by the production level of the supplying company. To simpl ify the cash flow presented, factors such as economic downturn and inflation are assumed not to affect the total sales for Delloyd. [NOTE 1] The total cost of goods sold is calculated as a balancing figure by setting the gross profit margin at 35%. The gross profit margin was calculated based on an estimation of the industry average rate. Cost of goods sold consists of direct labour and direct material cost. Direct labour cost for both machines are calculated based on the information given as follows: Vulcan Mold Maker Semi Automatic Machines Number of shift 2 2 Hours per shift 12 12 Days working 210 210 Number of machine operators required 2 12 Labour rate per hour for machine operators RM11.36 RM7.33 Number of maintenance workers required 0 3 Labour rate per hour for maintenance workers RM7.85 Total direct labour cost [NOTE 3] RM 57,254 RM 562,010 Delloyd is currently negotiating a tough collective-bargaining agreement with the employees union regarding the layoff of 24 operators that would no longer be of service should Delloyd choose to purchase the Vulcan Mold Maker. Thus, the cash flow statement for Vulcan Mold Maker is prepared on the basis that the negotiations with the employees union were favourable to Delloyd, without any unforeseeable effects on the companys operations. Information was given in the case that the foundry operated two shifts a day and total of 210 production days in a year. An assumption has been made that the workers work 12 hours each shift as the production process is continuous. The total cost calculated above has been rounded up to the nearest Ringgit. On the other hand, the direct material cost for both machines are calculated by subtracting the direct labour cost calculated above from the total cost of goods sold. It is also assumed that the respective total cost of goods sold will remain c onsistent over the years for both machines as it will not be affected by inflation and economic downturn. [NOTE 2] The calculation of expenses will cover general expenses that cannot be traced directly to the production and is charged on a yearly basis. The expenses for the Vulcan Mold Maker will consist of contract maintenance and power costs. On the other hand, expenses for the Semi Automatic Machines consist of maintenance supplies and power cost. The information on the expenses incurred is provided in the case and assumed to be consistent over the years. [NOTE 4]. Besides, the labour savings that are expected from the use of Vulcan Mold Maker is assumed as a cash inflow, amounting to RM5,200 in the cash flow statement of the new machine. [NOTE 5] The annual depreciation for Semi Automated Machine is RM47,520 and it is provided in the case study. Meanwhile, depreciation for the Vulcan Mold Maker is calculated based on the total cost of investment and depreciated over eight years assuming the straight line method is adopted. Thus, the annual depreciation cost amounts to: Total cost = RM 1.01 m  [1] Useful life = 8 years Annual Depreciation = RM 126,250 [NOTE6] The tax rate used equals to the companys effective tax rate of 43%, which reflected the combination of national and local corporate income-tax rates as given in the case. [NOTE 7] The net capital expenditure in the first year (Y0) for Vulcan Mold Maker is calculated with the assumption that the six Semi Automatic Machines have been sold for the price of RM130,000. The calculation is as follows: Book value of old machines = RM285,125  [2] Capital loss = RM155,125  [3] Net Capital Expenditure = Total cost Offer price Tax savings = RM1,010,000 RM 130,000 (RM155,125 x 43%) = RM813,296 [NOTE 8] The cash flow statement prepared will not include any extraordinary costs that were not mentioned in the case study to ease the comparability purpose. In addition, the consideration of purchase of the Vulcan Mold Maker was decided as the best option after careful consideration of all available molding-machine proposals. This option is assumed to be the most suitable and beneficial choice for Delloyd after a detailed analysis on all of the proposals. 3.0 Cash Flow Statement 3.1 Vulcan Mold Maker 3.2 Semi Automated Machine 4.0 Discount Rate Cost of Equity = Risk-free premium + (Beta) Risk Premium = 5% + (1.25) 6% = 12.5% WACC = % Equity (Cost of Equity) + % Debt (Cost of Debt)(1-Corporate Tax Rate) = 67%(12.5%) + 33% (6.8%) (1-0.43) = 8.375% + 1.279% = 9.654% The Weighted Average Cost of Capital (WACC) for Delloyd is 9.65%. This percentage was calculated by multiplying the cost of each capital by its weight and then adding the two. The weight of debt was given as 33%. The cost of debt given was 6.8%. This number was based on the interest rate of loans to the company from Bank Pembangunan. The corporate tax rate for Delloyd is 43%. The weight of equity was given as 67%. The cost of equity used was 12.5%. This number was calculated by multiplying the companys beta of 1.25 by the equity risk premium of 6% and adding it to the risk free return of 5.0%. The beta, equity risk premium and risk free return were given in the case. The reason for WACC to be chosen as the discount rate is that in actual f act, it is an equally weighted combination of the  cost of equity  and the after-tax cost of debt. It will thus provide the company with information regarding the best financing method whether via equity or debt, or the different combinations of both, that result in a lower cost of capital (Value Based Management.net, 2010). The WACC is then used as the discount rate to discount the net incremental cash follow. The net incremental cash flow is calculated by subtracting free cash flow of the Semi Automatic Machines from the free cash flow of Vulcan Mold Maker for the eight years. The calculation results in a negative NPV, which means that the investment in the new machine should be rejected. Only projects that yield a positive NPV will be regarded as a good investment decision (Michel, 2001). It was provided in the case study that the inflation rate is 3%. This rate was not incorporated in the calculated cash flow and NPV. However, if this has been taken into acco unt, it would have been resulted in a lower NPV because discount rate will increase. This is in accordance with Fishers Equation Theory which presents that nominal interest rate has to increase so that the borrowers can achieve their real interest rate. The lower NPV further reduces the attractiveness of the investment if it was financed by loans (Sun Phillips, n.d.). 5.0 Calculation of net incremental cash flow to NPV 6.0 Impact on the discount rate for two different financing methods Delloyd has two different options to finance the acquisition of the Vulcan Mold Maker. Delloyd can either take up a loan or issue additional shares in order to raise capital to fund the acquisition. The current market value of the companys capital is made out of 33% debt and 67% equity. Hence, the effect on the discount rate is further analyzed in two separate situations below, where the company chooses debt or equity financing. The WACC is calculated with the assumption that all other factors, other than the debt and equity percentages, will remain consistent. Situation 1-The company takes up a loan to finance acquisition. Effect : Composition of 60% debt and 40% equity = 40% (12.5%) + 60% (6.8%) (1-0.43) = 7.326% The discount rate drops when the company relies on more debt. Cost of debt is comparatively lower than cost of equity. This is because of the pecking order theory, whereby companies have a specific hierarchy when it comes to selection of financing methods. New debt is preferred over issue of new external equity due to lower transaction costs (Emery, Finnerty Stowe, 2007). Tax shields provided by debt financing also leads to a decrease in WACC as interest payments are tax-deductible. Besides that, debt financing also involves the use of company asset as security to the loan, as well as restrictive loan covenants set by the lenders to ensure that Delloyd would use the loan strictly for a proper purpose (Anderson, 2000). Hence, the WACC value is generally lower to reflect lower risk. A lower WACC would result in a maximization of the firm value. When the company decides to take up additional loans, this would indicate the company is now relying more on borrowed funds. Debt financing will lead to additional obligations of meeting interest and capital repayment (Anderson, 2000). Although these obligations may have a negative impact on the cash flow, this could motive management to work towards earning more profits in order for the company to meet these monthly obligations. Delloyd must reconsider taking up debt financing because if the company plans to use additional debt financing in the future, banks might be more reluctant to provide loans. A higher reliance on debt to finance assets indicates that Delloyd is at a higher risk of being unable to repay loans. This may result in higher interest rate charges in the future. Situation 2-The company issues additional shares to finance purchase of Mold Maker Effect : Composition of 20% debt, 80% equity = 80% (12.5%) + 20% (6.8%) (1-0.43) = 10.78% The WACC increases when the company relies on more equity. The issue of additional shares will lead to a dilution in ownership for existing shareholders, and this usually leads to a negative market reaction in the initial stage (Liesz, 2001). Equity financing will also involve transaction costs, including administrative and underwriting costs and this will have an impact on the WACC (Myers, 1984). In addition, when a company becomes liquidated, the shareholders will only be able to claim the residual assets after all debt obligations have been met. Hence, shareholders bear the highest risk and hence, must be compensated with relatively higher returns. The WACC will increase as a result, to reflect a higher risk associated in relying on equity financing. 7.0 Qualitative Issues Important decisions should not be made based on quantitative considerations alone. There are also qualitative issues related to the purchase consideration which are important and relevant to this capital investment decision. One of the most pressing issues faced by Delloyd is the ongoing negotiations with the employees union. This external stakeholder has the power to influence the reputation of the company should the union become dissatisfied with the outcome. Delloyd could easily be portrayed as a company that does not value the contributions of their employees. The layoff may adversely affect employee morale within the company. The other employees may suffer from survivors guilt, a term used to describe the feelings of surviving employees post layoff period. They feel that their job security has weaken or become angry if they feel that the layoff was injustice. This may potentially affect employee productivity (Brockner et al, 1986). This is supported by Brockner (1992), who goes on to say that proper management of layoffs can occur as survivors reaction can be influenced by upper management. Although Delloyd considered reassignment of the 24 workers to fill up vacant positions within the company, the only available positions were for the post of janitors, who were paid RM 4.13 hourly. The company could offer these positions to the workers that are interested in continuing to work for Delloyd. Managing Director Debbie Lee believes that the quality of the metal castings would increase resulting from the purchase of the Vulcan Mold Maker. Consequently, the scrap rate will reduce leading to fewer rejections of metal castings. The purchase of the Vulcan Mold Maker would allow Delloyd to enjoy a competitive advantage in this aspect. A comparatively lower rejection rate will show potential customers that Delloyd emphasizes on product quality. However, it is difficult to quantify competitive advantage in the cash flow statement and thus, the statement will not reflect this aspect. The purchase of the Mold Maker will also lead to an increase in supply due to a higher theoretical maximum capacity. The increase in supply does not necessarily correspond to an increase in demand. The company becomes more efficient in meeting current demands quickly, but an increase in demand will occur due to external factors beyond the controls of Delloyd. The economy is predicted to slow down, and this will affect the demand for metal castings. It is difficult to quantify this factor as there is no certainty of the future economy condition. However, the company had survived the 1997 financial crisis and could estimate the impact of the current slowdown based on previous experience in preparing the cash flow during the last financial crisis. Another factor to consider is the approval of the Board of Directors (BOD) to purchase the Vulcan Mold Maker. They have already rejected three proposals of similar mold maker and the latest being in 1999 due to economic downturn. As economic downturn is predicted to occur again, it will not be an easy task to get the approval. In addition, the total cost of RM1.01 million has exceeded the proposed expenditure slightly. The BOD also may question the need for extra capacity for the company as the existing machine itself is not running in full capacity. 8.0 Cost benefit analysis As we have looked into the cash flow for the two options and also the other qualitative factors, we can now summarise the cost and benefits of both options. 8.1 Semi Automatic Machine One of the benefits of not replacing the Semi Automatic Machines is that the company does not need to change their way of operating. Change is a word that most people fear because it requires them to move out of their comfort zone. If the company decides to remain status quo, they can comfortably produce their product without new surprises. Of course, this is not always a good option. Not changing into something better often comes with a cost. The company will not be able to progress further and achieving greater heights would be difficult. In addition, the Semi Automatic machines involve more labour costs as it requires more workers to operate the machine. Hence, this will increase the expenses and subsequently, lead to a decrease in NPV. This is due to an emphasis on quality in the metal castings produced. The acquisition of the mold maker would have lead to a drop in rejection rate, but if the company choose to maintain with the use of the Semi Automatic Machine, the scrap ra te would be maintained at 70 parts per million. They would have to forgo the benefits in the form of a reduction in scrap rate. 8.2 Vulcan Mold Maker If the company decides to replace the Semi Automatic Machines with the new Vulcan Mold Maker machine, the company will be able to produce higher quality products. This is an important factor if the company wants to retain its existing customers and also to attract new ones. According to a marketing website, people often buy products that are value for money and not just cheap products (Ali, 2007). By producing higher quality products, it is highly definite that the company is going to be more profitable. Also, the company is able to cut material costs because the Vulcan Mold Maker will result in lower raw material scrap rates. Besides that, the Vulcan Mold Maker requires only 2 workers to operate. Therefore, there will be a substantial amount of labour cost saved as less training and retraining costs will be incurred. The lower number of workers also helps the company to avoid any problems from the employees union which can be a cost to the company in the future. When the Vulcan Mold Maker is purchased, it will decrease the medical claims. The medical claims have doubled since 1998 as there was higher demand on employees to lift heavy objects. It is expected that the demand to lift heavy objects will decrease with the purchase of the new machine. Although it is unquantifiable at this point, there should be a decrease in medical claims leading to a saving in insurance costs. However, if the company decides to put the new machine in place, the company will have to deal with the tough collective bargaining agreement with the employees union before we are able to lay-off the existing workers. The company might need to offer monetary compensation or may provide early retirement benefits to those workers that are affected. These are necessary as the workers may find it difficult to obtain another job as economy is heading downwards. 9.0 Recommendation Although it seems like the benefit of investing in the new machine outweighs the benefit of using the existing machine, Delloyd is advised to maintain its current use of the semi-automatic machines. This is because investing in the new machine will result in negative NPV of the incremental cash flow, reflecting an investment that is not viable. The rule of thumb in investing in a project is that the project must generate a positive NPV. However, Delloyd may want to invest in the new machine in the future when there is an increase in sales and when the economy is stable given the benefits that the company will reap. For the time being, we will advise Delloyd to remain status quo. 10.0 Conclusion Delloyd should not invest in the new machine because it results in negative net incremental cash flow, which is the main consideration in making the investment decision. Qualitative factors were also taken into account when deciding the best option for Delloyd. The NPV of the Semi Automatic Machines is higher than the NPV for the Vulcan Mold Maker. This implies that the current machines will increase the value of the overall company in the future. The ongoing negotiation with the employees union is another main factor. Delloyd has not come up with any solutions other than the layoff. With the recommendations, the 24 workers will be continually employed and this allows Delloyd to maintain a good relationship with the union. Besides that, excess capacity exceeding the current 90% might not be useful for Delloyd as the economic downturn is due to occur. The current scrap rate is relatively low and should not be of concern for now. Hence, the company should focus their efforts towards preparing for the economic slowdown that may occur in the near future. (2960 words)

Salinger s The Catcher s The Rye - 1303 Words

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Analysis Of The Article Navigability And Improvement Of...

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Healthcare and Poverty in America Free Essays

The Dire Need for Universal Health Care The United States is considered by many to be the greatest country in the world. However, when it comes to health care the US is ranked behind 36 other countries, according to the World Health Organization. If one was to do any research at all, they would find that an overwhelming 34 of these 36 countries all have one thing in common. We will write a custom essay sample on Healthcare and Poverty in America or any similar topic only for you Order Now They all use a universal health care system. This is not just a mere coincidence. The problems and outrageous cost within the US healthcare system causes over 700,000 Americans to go bankrupt every year. This staggering problem simply does not occur in any other industrialized countries. Accounting for these facts the United States needs to move quickly to embrace the ideas and adopt the policies of a universal healthcare system. Not only will this help improve the quality of care but will also improve the life of its estimated 16. 3% or 50 million citizens without any healthcare insurance at all. An almost overwhelming problem caused by the United States’ current health care system is that those with low incomes can’t afford the necessary health care and thus already rely on occupations or government programs to receive coverage. This is evident if not by merely recognizing that 50 million citizens don’t have any health insurance, but also because the statistics clearly show that it is very uncommon for health insurance to be purchased directly by the individual. Using statistics taken by the US Census Bureau in 2010, we can conclude that of the 83. % of people with health insurance, the majority 55. 3% had it through employment –based benefits and 31. 0% were able to receive it through government funding. This compares to the measly 9. 8% of people that purchased their insurance directly from a provider. After examining this, it is evident that the vast majority of people rely on their employers or the government funding to keep health insurance. This fact clearly causes some problems when someone might be laid off or just simply makes a career change. Entire families can lose their health coverage due to the breadwinner being released from their job. The National Center for Health Statistics claims that over 50% of individuals lacking health insurance directly blame cost. Roughly 24% of uninsured people claim reasons related to a lost job or a change in employment. It is interesting to note that around 8% of people claim ineligibility for family insurance coverage due to age or leaving school. The primary reason for lacking insurance is money, and it could also be argued that money is directly or indirectly involved in almost every circumstance causing a family to lack the necessary health insurance to provide care. Several years ago in 2005 the NCHS began a study that found well over 40 million adults claiming that they were in need of but did not receive one or more of the health services that follow: medical care, prescription medicines, mental health care, dental care, or eyeglasses. The best reason these 40 million citizens didn’t receive such basic forms of healthcare was simply that they could not afford it. The United States is the only industrialized country that does not provide some type of universal health care to its citizens. Furthermore, they have one of the highest rates for health care expenditures in the world. As a matter of fact, health care expenditures in the United States are by far the highest of any developed country. According to the Organization for Economic Co-operation and Development the United States health care expenditures is at 15. 3% of GDP. Next highest in spending is Switzerland, at only 11. 6% of their national GDP. 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Requiring preventive care coverage should better the quality of health care provided in the US, especially to those at or below the poverty line. In conclusion, upon seeing the problems the current United States healthcare system creates for citizens struggling in or right above the poverty line, upon taking a glance at other countries healthcare systems that seem to be more efficient and less expensive, and upon already experiencing the positive changes that have come from implementing rules and regulations that create a universal healthcare system, Americans should begin to finally agree that healthcare reform should be at the forefront of our minds. Not only to help all those stricken with poverty to receive care, but to improve the quality of healthcare for all Americans. Word Count: 1197 words How to cite Healthcare and Poverty in America, Essay examples

Music and Death Essay Example For Students

Music and Death Essay Aspcets of Death and Dying1/18/02Music and Death: The Songs and Deaths of Rockstars That Have Shocked the WorldMusic as we know it today is the voice of a generation. It gives us entertainment, and speaks out for a community of people in many ways. Most people listen to at least some sort of music, and serves a purpose in almost every facet of society. Just about any expression can be shared through music, inlcuding ideas and feelings about death. Music is used in various way when pertaining to death, including songs about how a death occurred, or songs at a service mourning a death. Whichever way you look at it, music serves an important purpose, and the songs about death and the death of certain performing artists has a great impact on society, especially the youth of society. It will be interesting to think about some of these songs and musicians, and the effect their short lives and music can have in our society. No matter which way you turn your head, your going to hear many different kinds of music. Many artists look to cover as many topics in their music, and death and dying is a topic that everyone in this world will sooner or later deal with, so it is a topic that it is covered. It is interesting when looking at Rap industry, and two artists come to mind right away when speaking about death. The Notorious B.I.G. and Tupac Shakur are two rap artists who both have died within the last five years, and were both extremely popular. What one may look at is the fact that both seemed to have an idea that they were going to die right before they did, and it was not because of a terminal illness, it was in fact by being murdered. Tupac Shakur was a very popular artist, whose talents were respected by people who werent or arent even rap music fans. He was very young when he passed, at age 25, and there are still people who listen to his music toiday, and there are even some people who question his death even occurred. Many of his albums have thoughts of death and his lyrics represent these thoughts, as he questions how much faith he has left, and how he seems to know his time is coming to an end. One of his songs, titled only God can Judge me, talks about how there is death all around him, and how it is hard to keep positive in the light of friends passing. Now, when dealing with a popular rap artist who makes alot of money it is hard to judge his albums and lyrics at face value. But indeed he even insists that it is difficult to escape your hard past, no matter how much success comes forward. Some of his albums suggest his nature of knowing death as near, such as his album Me against the World, and 2pacalypse now. Not being a Rap fan it is hard for to judge what is going through his mind, but by reading some lyrics it is obvious that he believes that he has a hard life, and that death may be the only answer. The Notorious B.I.G. was a very famous rap star on the East Coast, and grew to nationwide fame. His lyrics exemplify death even further, as he seemed to never give up his gangster lifestyle. Before becoming famous he was a drug dealer, dealing Crack-Cocaine, so he was well aware of death as a fact of life. His lyrics were different from Tupacs in that most of his Death lyrics were about murder instead of his own death, that is until he started to believe that his death was imminent. Like Tupacs lyrics, his songs are way to graphic to quote here, but many of his songs had lyrics of him killing and in some rare cases even some sort of threats of torturing as well. It would be reasonable to believe that it was because of his lifestyle on the streets that made him think this way, as he did seem to be obsessed with murder and death. One of his albums was entitled Ready to Die, and it has songs on both side of the spectrum. The self titled song was about how is preparing to murder someone, and there was also a song called suicidal thoughts, which was about how bad his self image was, and about how he believed that he deserved to go to hell instead of Heaven because of all of his bad deeds. This song is particularly disturbing, since it gives graphic depictions of what his life would be like in heaven and then in hell, and it seems like he has a true belief in how bad he really is. Narrative Perception EssayEach one of these artists has a different story, but they all ended the same, with a tragic and early death. Each artist was still in his 20s, and each artist has touched many fans around them. The importance of their deaths is clear, that it gives the general popular culture a sense of what death is and that it truly exists out there. All four of these deaths have touched the senses in different ways, one being a suicide, one being an accidental overdose, and two being murders. In essence it is obviously not good that these artists deaths came so early, but at least it is a warning sign for the rest of the world, in that it proves that everyone dies sometime, and that no one is invincible. These people all lived extravagent lifestyles, and they all learned the lessons of life the hard way. Each death has been like an overdose of reality to the popular culture, and has grounded everyone whose lives they have touched. Anything that popular recording artists do is going to be documented and looked at by the general public. When one of them actually dies, especially at a young age and in a tragic way, it is going to have some sort of impact on societys popular culture, if not the entire public. Sales suggest that death is even good thing for an artists career, believe it or not. Jimi Hendrix, a legendary guitarist and performing artist summed it nicely saying, Once youre dead, your made for life. In death, many of these artists sales soar to the top of the charts, as shown by music from the recenlty deceased Aaliyah and Beetles legend, George Harrison. Bob Marley, who died in 1981, is still the best selling Reggae artist in the world. Artists like the Doors and Elvis Presly have also thrived post mortem. All of this proves that even in death, the music goes on, and people are still touched by the work of the dead. There are many ways to grasp and view death as a fact of life, and death in the music industry. Some artists portray death in their actual music, and others just give us a look at death by their lifestyle and how they eventual die. One thing has become clear: That the lives and deaths of famous peerforming artists will touch the general public in more than one way. When a performance artist has died, the public rallies around them, and buys and listens to their music to supoort the deceased and their families. When a performance artist sings about death and their views or brushes with death, it gives society a chance to see what people think about death, and how they may handle an apparent death or the thought that their own life is about to come to an end. Death is something that every person is going to have to deal with at some point or another in their lives. To the people who have never had someone close to them die, the death of a celebrity can be the next closest way for that person to experience and learn to deal with death. The deaths of the four artists mentioned touched the public in different ways. Brad Nowell was an aspiring artist who was just making it to the top when it all came crashing down. Tupac Shakur and the Notorious B.I.G. were both already on top and their lifestyles of violence led to their demise. And the Kurt Cobain was a small town guy who didnt want all of the fame and his psyche crumbled as he comitted suicide. Each one of these deaths and the music brought from these artists gives us a sense of what it is like to die the way each of these people did. To alot of fans, when their favorite artist dies, a very small part of them dies, and it brings a rebirth to reality, on how life should be lived and that the industry is only entertainment, and not the way to a fulfulling life. In the end music cannot be a way of life, but it can lead to inspiration towards leading a good life, and gives comfort and hope towards that goal. Words/ Pages : 2,208 / 24

Managing Information Essay Essay Example

Managing Information Essay Essay IntroductionWith about 40 years’ experience has seen the industry alteration many times. and has ever kept itself at the head of that alteration. Its repute is a beginning of pride for all who work here. and it’s something we’re keen to continue and develop the lone manner possible: through fulfilling our clients. We have developed into a prima multidisciplinary contractor offering a genuinely comprehensive. incorporate service to clients in development. building. energy and many other sectors. ( See appendix 1 for Organisational chart’s of company ) My occupation function within the administration is quiet a varied one in that my twenty-four hours to twenty-four hours activities are neer rather the same. but to summarize my chief responsibilities include subjecting monthly applications in line with the assorted contracts worked on for illustration NEC and JCT to call but a few. go toing site progress meetings with a scope of clients from the commercial / proficient and building sections. subjecting internal applications and working advancement. go toing internal fiscal meetings with the Financial Director / Demolition Director and Management Accountant and bring forthing a study with the inclusion of monthly prognosiss. go toing meetings with Contracts Managers and Estimating manager to discourse and bring forth budget and mark sheets. completion of contract sum analysis and stop life prognosiss which are so discussed and agreed by the Demolition Director. supervising a broad assortment of sub contractors from different building subjects used which requires the demand to direct out stamp bundles. raising and presenting bomber contract orders. elevation of sub contract payments after measuring applications received. All the above aids in the monitoring of assorted contracts and ensures undertakings are delivered on clip within budget and the client receives maximal satisfaction to procure future work chances. We will write a custom essay sample on Managing Information Essay specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Managing Information Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Managing Information Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer 1. 0 Understand the Management of Information within the administration 1. 1 Critically assess information flow through a figure of different channels within the administration Throughout the administration there is assorted different types of information used which is transferred throughout the administration in several capacities. Information by and large described as below: Production and Operational – Information on assets / quality / criterions Financial Information – Profit / Costs / Margins / Cash Flow / Targets Internal Documentation – Purchase Orders / Delivery Notes / Invoices A ; Applications / Credit Notes / Departmental studies / Department Meetings and proceedingss / Hire Sheets / Plant Sheets and Information / Allocation Sheets and Plant Returns / Employees Records / Cost Books A ; Tender Information / Applications and Invoices ( Client ) All the above is aided with an Integrated Management System ‘This Integrated Management System outlines how Cuddy plans to fulfill the: Quality demand of ISO9001:2008 ( Quality Management System Specification ) Health A ; safety demands of OHSAS18001:2007 ( Occupational Health A ; Safety Assessment Series 18001 ) Environmental demands of ISO14001:2004 ( Environmental Management Systems Specification ) by runing a model based on these demands This Integrated Management System is intended to straight run into the demands of the undermentioned statute law and ordinances: Health A ; Safety at Work Act 1974 – Section 2 ( 3 ) requires administrations to hold a Health A ; Safety policy which should include: Statement of Intent ( i. e. Health A ; Safety mission ) Administration ( i. e. construction. functions A ; duties )Agreements ( i. e. process and counsel ) Management of Health A ; Safety at Work Regulations 1999 – Regulation 5 requires administrations to hold agreements for set abouting effectual planning. administration. control. monitoring and reappraisal of the preventative and protective wellness and safety steps. HSG65 Successful Health A ; Safety Management – This counsel outlines the direction system demands for implementing the agreements required within ordinance 5 of the Management of Health and Safety A ; Work Regulations 1999. This Integrated Management System will supply the mechanism for pull offing other legislative. regulative and other policy demands ( e. g. hazard appraisal. preparation. etc ) . ’ Above abstract taken from Cuddy To be read alongside the IMS as an assistance is the followers:Standard processsForms and Guidance NotesStandard Operating ProceduresCertificates. Insurances. LicensesPolicy StatementsStandard COSHH and Risk Appraisals As touched on there are assorted different ways in which the information is transferred throughout the administration with the usage of electronic. difficult transcript and spoken for the assorted types. all this aids us to capture the different types of difficult and soft information we need in order to guarantee a undertaking is a successful 1. ‘Soft information includes feelings. perceptual experiences. sentiments ; values on the other manus difficult information includes verifiable informations and cognition. ’ hypertext transfer protocol: //onemind. com/2010/03/07/hard-and-soft-information/ I have touched on how information is transferred internally and specifically in the office and from a manager’s point of position through assorted different capacities but haven’t gone into depth how information is transferred to the male childs on the front line on site. As I presently see it within the company there is clear breakdown in communicating from when we tender and win a occupation to what information is received on site and in peculiar how the site forces are managed on that specific occupation In relation to what precisely we priced. This I believe is impacting on the continuance we are taking to finish the occupation and impacting on the possibility of doing the occupation every bit successful as possible. besides this may hold a negative consequence on the company as whole whilst tendering for plants in the hereafter. As portion of the IMS there are processs in topographic point ( listed below ) . but neither allows for the mode and information to be transferred to site. To summarize from the information that is transferred demands to be clear. simple and set out in the manner in which the site supervisor understands what is required in order to guarantee the undertaking is successful. Topographic point for Enquiry. stamp and contract reappraisal Undertaking Delivery As a brief apprehension in mention to specifically the Demolition Department we have an gauging manager who will see the sites which require pricing and bring forth a cost book papers which is passed to the destruction manager and managing manager for remark before subjecting what they believe to be our most competitory stamp and or command. If we are lucky plenty to be successful in winning that specific occupation the cost book along with the stamp information will be passed to the relevant contracts director and measure surveyor in order to bring forth a budget / mark sheet and an extent of works sheet. This is when the center directors have the chance to raise any questions sing the occupation with the gauging manager or the destruction manager on what precisely has been allowed and priced for. The following measure in the current procedure is for the stamp information to be copied and a site file produced and passed to the supervisor in order to transport out the plants. The cost book. aim / budget sheet is non passed onto site and this is merely for mention between the center directors and managers of the company for the protection of critical information. Therefore I propose we come up with a process that will let the smooth transportation of information to site and give a clear indicant of what precisely has been allowed in the stamp. In puting this process I hope to bridge the spread between site and the information held at the office. and in making so keep regular meetings with dockets. proceedingss disturbed. 1. 2 Propose betterments to the flow of information within your country of duty. based on your organizational appraisal Due to my occupation function being one in which I try to understate cost and heighten value you for money. I believe in puting clear and simple marks to the Supervisors on site this will authorise them and give them inducements and a clear apprehension on what needs to be achieved in order to guarantee the occupation awarded becomes a successful and profitable 1. As mentioned antecedently in the current state of affairs the Supervisors are given the stamp information and briefly explained the occupation but in some senses are left to run the occupation with unfastened ended marks and no clear sense of way or direction. this is bend is doing occupations to run over and us non maximizing profitableness. Presently the transportation of information from stamp phase Michigans at the center directors point. The grounds being for this is due to confidentiality of the information contained within the cost book and mark / budget sheet and as directors there is information we do non desire the site operatives to see. Therefore the first action in the process would be to keep a pre start meeting or initial meeting or the similar on site with the following being in attending. The ground I have listed the below as typically they will be make up ones minding factor on how good a occupation goes: Relevant Contracts Manager Relevant Quantity SurveyorRelevant Site SupervisorWithin this meeting the occupation as a whole would be discussed briefly merely. In destruction for illustration it is possible to interrupt a general occupation up into the undermentioned classs: Site set upAsbestos RemovalSoft StripDestruction to exceed of slabRemoval of slabs and foundationsCrush stuffClear Site As you can see from above by and large there are a few different classs of work required to be carried out on a typical destruction occupation. Therefore I believe we should non take to discourse the whole occupation in item but marks given for each single work activity merely. as if we discuss the occupation in item this may do the supervisor to travel into his / her shell and be intimidated before the occupation has even commenced. Therefore within this process it will be broken down into the specific work activities and depending on the size of the occupation these work activates could even be broken up into stages if demand be. For illustration in the first pre start meeting or initial meeting the general site set up would be discussed and peculiar what is required in regard of cabins / public assistance / heras fencing to call a few points and the location of where we intend to site up site. As it presently stands the contracts director normally sets up the site but I believe if we have the supervisor on board early doors and let him to hold an input of the set up needed / location this will give him a sense of pride and authorization that he is in charge of the site. What site set up that’s required normally depends on the size of the site but typically this normally takes a hebdomad or longer and under current H A ; S and CDM Regulations 2007 no plants are to get down unless the followers are in topographic point: Blushing lavatories and running H2O and drainage systems. Washing Facilities with hot and cold H2O.Soap or other suited agencies of cleansing.Towels or other suited agencies of drying.Sufficient airing and lighting.Sinks big plenty to rinse face. custodies and forearms.Drinking Water.Changing suites and cabinets.Rest Facilities and warming. After initial site set up has been completed another advancement meeting will be held on site with a specific mark laid out for the work activity in inquiry. By and large on a destruction site Asbestos Removal normally has to take topographic point before we can get down soft strip depending on what type of asbestos and in line with the specific site asbestos study in topographic point. But for illustration if we take the occupation as a additive undertaking and the soft strip can non get down until after the asbestos. so within this meeting we discuss in length the asbestos remotion and put a clear mark with the input from the supervisor. Typical of illustration of this mark could be once more depending on size of the site but take for statements sake we take it as the site is split up into 5 stages. Phase 1 -10 Men x 6 Weeks Phase 2-5 Men x 3 WeeksPhase 3 -8 Men x 5 WeeksPhase 4 -8 Men x 2 WeeksPhase 5 -6 Men x 6 Weeks The basis will set in by the center directors to guarantee the mark above is in line with the cost book and or aim / budget sheet. and in line with this process it will try to put it out every bit basic as possible in order to try to take every bit much force per unit area off as possible. Weekly advancement meeting will be held after the initial meeting in order to reflect on the old week’s activity. Within this meeting it will be an chance for the supervisor to measure his public presentation and the public presentation of his squad on site. in making so will be a ego assessment tool for the supervisor without cognizing. It will besides give the center directors an update of current place in regard of the marks set out and give an chance to amend or alter anything that is non quiet working right and maintain the things that are. The meetings will go on on a hebdomadal footing with clear marks and unfastened and blunt treatments with input from all parties to make a sense of a squad as I believe this will assist with the running of the occupation. Changeless communicating will be held throughout on a day-to-day footing to guarantee all parties are cognizant of changeless ongoing on site. When plants have been completed the concluding action in the process would be to hold a station contract meeting once more with all parties where all the information is discussed /analysed / marks reviewed and the similar. This will be ready to hand in traveling frontward and used as a tool to garner day of the month / information. This information could be fed back to the gauging manager and destruction manager in order to hold the full circle should a similar occupation arise in the hereafter. The above will be written out in a clear process therefore should person go forth the company. or the occupation being transferred to person else so everyone will be cognizant what is required of them. See Appendix 4 for proposed new Procedure By seting in topographic point the above process it will help with spoken. electronic and difficult information and the transportation of. Spoken – Due to the nature of the process it encourages the day-to-day duologue between directors and the site supervisors. Hard Copies – Agendas and Minutes will be taken of all meetings taken placed. which will be updated electronically and distributed consequently. Electronic – Targets will be collated and circulated. along with transcript of the proceedingss. 2. 0 Gather and Analyse information to do determinations to work out jobs in your country of duty 2. 1 Collect information from a broad scope of beginnings to back up direction decision-making Site Managers / Supervisors Verbal illustrations from site directors / supervisors saying that the deficiency of information in regard of the range / stamp inclusions is holding a negative impact on the overall public presentation of our occupations. As mentioned this is transferred verbally therefore we will hold to take into history of its dependability and cogency. As mentioned antecedently there is a clear dislocation in the flow of information from when we monetary value and win a occupation to the information passed onto site and the direction of that information in order to do the occupation every bit successful as possible. This is readily backed up from verbal conversations with the site supervisors themselves who are unsure of what the extents of plants are and the possible impact this is holding on the continuance of the undertakings? Specifically within the Construction Industry as a director the below is at the head of every determination we make. The trigon illustrates the relationship between three primary forces in a undertaking. Time is the available clip to present the undertaking. cost represents the sum of money or resources available and quality represents the fit-to-purpose that the undertaking must accomplish to be a success. hypertext transfer protocol: //www. projectsmart. co. uk/project-management-scope-triangle. hypertext markup language But finally the determinations we make from site degree up the concatenation to the pull offing managers determine the result. Below is grounds that everyone makes determinations. Above it shows the impact and importance of determinations with respects to the Cuddy Group it is possible to divide the three groups up into the followers: High Value -Managing Directors and Directors Medium Value-Middle Managers e. g. Contracts Managers and Quantity Surveyors Low Value-Site Managers and Site Personnel Quiet frequently when doing a determination we use past cognition in order to assistance and help us. Past cognition or the information that is by and large contained within the encephalons of persons is by and large known as tacit cognition. This cognition is continually acquiring updated and revised depending on larning. experiences and penetration. There are assorted different types of cognition and this is summarised in assorted theoretical accounts. One of the widely accepted attacks to summarizing cognition direction is the Nonaka A ; Takeushi. ( see appendix 9 for web location ) Below are a twosome of diagrams demoing the matrix. Nonaka A ; Takeuchi model the procedure of organizational cognition creative activity as a spiral in which cognition is amplified through these four manners of cognition transition. Quote taken from category notes. Along with the particular undertaking direction matrix / flow and cognition diagrams there is general direction information available that will help in determination devising see below. Dependability and Validity Model ( see appendix 9 for web location ) Knowledge Classifications Model ( see appendix 9 for web location ) Good determinations make good undertakings. so what makes a good determination ( and. hence. a good undertaking ) ? The reply is. one that’s good planned. But so you run into the inquiry of how long the decision-making procedure should take. Well. the last thing we need is a new formal methodological analysis for decision-making—nothing would of all time acquire done. That’s why I’d like to suggest several utile regulations you can use to decision-making: See the importance of the determination. To find the importance of a determination. inquire yourself: What are the effects for both the undertaking and for you? In world. how pressing is the determination? ( Note that there’s a difference between of import and urgent. ) Ask yourself if there are more options. In other words. if you’re choosing between three options. inquire yourself if there’s besides a 4th option. Think about stakeholders’ sentiments. Have you listened to the sentiments of stakeholders in the determination? You should. Even though they may non wish your ultimate determination. they’ll have to populate with it. Concede the fact that you’re traveling to do some irrational determinations. We frequently make determinations about by physiological reaction. utilizing a combination of experience. informations analysis. gut feelings. fright. personal penchant. and peer force per unit area. I’m non stating that you shouldn’t take into history your sense of self-preservation. the positions of your squad. or your remembrances about why a old undertaking caused you heartache. You merely necessitate to be cognizant that each new state of affairs demands a clear point of position and a fresh determination ; otherwise. the same errors will repeat. Remember that even some little picks can hold large effects. Don’t underestimate the possibility that major effects could ensue from apparently undistinguished picks you make along the manner. hypertext transfer protocol: //www. techrepublic. com/article/decisions-decisions-make-them-timely-wisely-and-responsibly/1049740 Along with the information above collated from the web I have besides read the following text books / Management books. NLP Pocketbook ( see appendix 10 ) Prosecuting Employees. A practical usher for busy leaders A ; directors ( see appendix 10 ) Both books aid direction and in peculiar with determination devising. In regard of the NLP Pocketbook it produmitaly focal point on yourself and your actions. It works on a SMART end puting scheme. SMART end scene is Specific Measurable Achievable Realistic and within a defined Time Frame. SSpecific and positive M Measurable and meaningful to youAAchievable and covering all countries of your life. stated in the present tense as if you have achieved it now RRealistic and right for you TTimes and targeted. towards what you want. In add-on to SMART end puting. NLP incorporates a procedure called ‘creating a grammatical result. Making a grammatical result involves inquiring a series of inquiries that will assist you clear up your end. They will assist you to determine how of import the end is to you. how ( if necessary ) to revise it and do it more accomplishable. Well –formed outcome inquiries: Is the end stated positively? What do you desire? ( Eg. desiring to increase company net incomes instead than a statement about cut downing the loss ) Can you get down and keep the procedure of accomplishing the end by yourself. and maintain it in your control? Does the end include all the senses? How will you cognize you have achieved it? What will you experience. see and hear when you have achieved it? What will other people fee. see and state when you have achieved it? Is the context clearly defined? How long will it take? Who will be involved? Where will it take topographic point? How will it be achieved? When do you desire it? Have you checked that it is ecological or meaningful for you. Internet Explorer is it worth the investing in clip and money? Does the result tantrum in with your life and who you are? Does the end keep those facets of the present state of affairs you want to continue. Internet Explorer are at that place positive elements you wish to keep? Does it place the resources you need – those you already have or those you need to get? What first measure must you take? What are the following stairss? Abstract straight taken from the NLP Pockebook.But in contrast to the above the Engaging Employees. A practical usher for busy leaders A ; directors text book focuses predominately on how to acquire the best out of your squad. See contents page taken from the text book to endorse this up. Is starts with youPlaning to pass onUnderstanding your audienceProsecuting people in alterationFace to face affairsTeam meetings ; acquiring it togetherHigh Impact presentationsChecking you’re acquiring throughEffective electronic mail – at lastThe write material. 2. 2 Analyse the information collected from a broad assortment of beginnings. to inform decision-making Project Management Models When undertaking pull offing a occupation in building there are assorted different types of theoretical accounts that we are able to follow some of which I have given illustrations of but finally the primary focal point specifically within the building industry is the trigon between the three primary forces. Delivering the occupation on clip. within budget to a high criterion. Decision devising theoretical account With the trigon in head we all have to do determinations of variable impact and volume as is set out in the determination doing theoretical account. With this in head pull offing information and the determinations we make are cardinal. ‘By non doing a determination you’re doing a determination to non do a decision’ taken from the ILM category notes. The determinations we make as a concern finally determines how successful the result is. and in peculiar the flow of information within the company to help our determination devising is critical. Therefore before we make any determinations we have to take into history the impact of the determinations we are doing. Nonaka A ; takeuchi theoretical account When doing a determination we normally take into history past experiences / making otherwise defined as Tacit Knowledge. Under the Nonaka A ; Takeuchi model it explains the relationship and how we can turn Tacit Knowledge into Explicit cognition which can be readily transmitted to others. Most common signifiers of expressed cognition are manual. paperss and processs in our administration we can associate to the ILM system and the assorted processs in topographic point. Please see below which makes good reading. The patent had attempted to be bought by a purchaser in other words the tacit cognition had attempted to be turned into expressed cognition but due to it perchance non being documented right or the mode in which it was presented non being explained right it failed. Therefore the tacit cognition that had been turned into expressed cognition was small or no usage to the purchaser. We must bare this in head if we are trusting excessively to a great extent on expressed cognition and in peculiar how dependable the cognition is? In the same sense it’s possible to categorize Wikipedia as expressed cognition but we have to take into history the beginning and what past experience or where the information originated from before utilizing it to do a determination. ‘Bessemer steel procedure — Bessemer sold a patent for his advanced steel doing procedure and was sued by the buyers who couldn’t acquire it to work. In the terminal Bessemer set up his ain steel company because he knew how to make it. even though he could non convey it to his patent users. Bessemer’s company became one of the largest in the universe and changed the face of steel devising. [ 15 ] ’ hypertext transfer protocol: //en. wikipedia. org/wiki/Ta cit_knowledge Measuring Validity and Reliability theoretical account When garnering information to do a determination we must take in the cogency and dependability of what we looking to accomplish. Particularly within the building industry there is specific ways in which to mensurate or cipher something and this can be best described as the below. Dependability Dependability refers to how consistent a measuring device is. A measuring is said to be dependable or consistent if the measuring can bring forth similar consequences if used once more in similar fortunes. For illustration. if a speed indicator gave the same readings at the same velocity it would be dependable. If it didn’t it would be pretty useless and undependable. Importantly dependability of self-report steps. such as psychometric trials and questionnaires can be assessed utilizing the split half method. This involves dividing a trial into two and holding the same participant making both halves of the trial. If the two halves of the trial provide similar consequences this would propose that the trial has internal dependability. hypertext transfer protocol: //www. holah. karoo. net/reliabilityandvalidity. htmIn regard of cogency this refers to the extent of what we are mensurating and what we hope to mensurate. Cogency This refers to whether a survey measures or examines what it claims to mensurate or analyze. Questionnaires are said to frequently lack cogency for a figure of grounds. Participants may lie ; give replies that are desired and so on. It is argued that qualitative informations is more valid than quantitative informations. hypertext transfer protocol: //www. holah. karoo. net/reliabilityandvalidity. htm Both the dependability and cogency have classs in themselves in which we can utilize to mensurate if they are accomplishing what we set out to accomplish. To summarize we need to be aware if we are utilizing specific informations or gathered information if it’s dependable and valid in footings of what we are trusting to accomplish and suit for intent. Information to Knowledge Management With regard of the following theoretical account it gives us an penetration of how the of all time germinating computing machine industry and in peculiar the capacity to hive away and administer informations / information is enabling forces larning and besides the capacity to do right determination in traveling frontward. Given an illustration that is relevant to the Cuddy group is the below. We are able to salvage / shop and distribute natural facts and figures on a peculiar occupation and in making so we are able to see if a occupation was successful in regard of net income? We so can travel on to give significance to the obtained informations in regard of information and give grounds why that occupation was successful? We so can analyze the derived information and understand what we did good on that occupation. This will so give us the wisdom traveling frontward to cognize what to make for the best on other occupations. As mentioned germinating engineering is helping us with the transportation and storing of this information and helping us with the capableness of forces larning. There are assorted illustrations and theoretical accounts that differ somewhat some of which I have given illustrations but all cover the above. General Management Tools As the assignment is targeted at in-between directors I have looked into the impact that determinations have and what to see before doing determinations? As a regulation the undermentioned applies: See the importance of the determinationAsk yourself if there are more optionsThink about stakeholders sentimentsConcede you’re traveling to do some irrational determinationsRemember that even little pick have large effectsI besides looked into how Smart end scene and how to prosecute with employees. 2. 3 Use this analysis of information to do and warrant a direction determination Using the analysis and the information collated along with the process I believe this will break the flow of information throughout the company. The trigon The process will help with presenting the occupation on clip within budget and to a high criterion. Delivering the occupation on clip – By holding hebdomadal meetings on site and the changeless day-to-day duologue this should enable any jobs to be caught at an early phase and therefore giving clip to pinch in the bud the possible to impact on advancement and in peculiar the terminal day of the month which quiet frequently is cardinal to a occupation being a successful one from a clients point of position. Within Budget – Due to the process leting for a reappraisal of the mark v existent on a hebdomadal footing this will enable hebdomadal monitoring of the budget to guarantee everything is on path. atm at that place if merely an allowance of monthly coverage and it’s possible for any occupation to alter dramatically from month to month. High Standard – Again as the process allows for the contracts director / measure surveyor to see site at least one time a hebdomad with the supervisor holding opportunity to set his / hers positions across together this should raise criterions. Decision devising theoretical account In mention to the process this will repeat the fact that everyone makes determinations particularly as proceedingss will be keep. actions assigned and closed out as and when this occurs. Nonaka A ; Takeuchi Model With the process in topographic point it will let for smoother transportation of silent cognition into Explicit Knowledge. This will be done by taking proceedingss ; supervising advancement against marks and describing this information back to managers / pull offing managers in order to hold the full rhythm. Validity and Reliability Under the process advancement meetings will be held on site this will let us to scrutinize and supervise the dependability and the cogency of the information we are being told by the site director / supervisor. This will be used as a look intoing tool before information is transferred around the company to managers and pull offing managers likewise. Knowledge Management With the process set in topographic point where proceedingss are taken / marks are monitored it will let for us to salvage / shop and distribute natural facts. Besides with the hebdomadal proceedingss we will be to give significance to the obtained informations for illustration why we missed out specific marks? Why we bettered marks? From this so we can analyze the information and understand how and why? This will so enable us to do the correct determinations in traveling frontward. Along with the analyzing the above theoretical accounts and information. I have taking history of why from a directors point of position why the process in topographic point will help with the running of occupations on site and the transportation of information. With respects to the current state of affairs of bring forthing the cost book that is translated to a mark / budget sheet. this information will be small or no usage to the supervisor for a figure of grounds listed below: Information Overload – Due to the nature of the papers this may do confusion in the manner the papers is set out. hence as set out in the process by interrupting things the whole occupation down into specific undertakings this will more than probably take the force per unit area off and give a clear apprehension of what is required and expected off of them. This is likely to do them less intimated and more confident as if they are clear More custodies on and practical – The academic degree of a supervisor by and large is non the same as what we would usually anticipate from a in-between director in that the cost book / mark and budget sheet will non be fit for intent if passed onto the supervisor. therefore the information should be broken down so it is easy understood. Team ethos – As it presently stands the information is passed to the supervisor with no clear way and direction spring. hence by using the proposed process this will so bridge the spread and increase the we are in it together attack. Why will meetings be held face to confront? Sense of Importance – By doing the attempt to go to site. as typically our sites are all of the United Kingdom so this will instil into the supervisor the assurance he needs in that he got your support should he necessitate it. Ability – may non be able to utilize the computing machine hence face to face will enable supervisors to hold an chance to lend their input without experiencing intimidated Sense of importance – By keeping the meetings face to confront this will enable them to experience like they got you in their corner and in making so should make a clear divide from site secret agents to supervisors. Meetings more forces – Generally meetings face to face are more forces and can be structured better with agendas / proceedingss and the similar helping Why will the supervisor in regard of the site operatives be the lone site member to be portion of the meeting? Clear degree of direction between site secret agents / supervisors and in-between directors – This will authorise the site supervisors and in making have a clear barrier between the site secret agents and himself. Self Worth – It will besides give the site supervisor the ego worth and common regard between himself and the in-between director. hopefully this should increase productiveness as he is likely to desire to make more for the in-between director if he believes he has the regard. Respect earns regard! Company by and large uses bureau Labour – As touched on antecedently due to the company runing throughout the company there is the demand to use bureau labor. by holding hebdomadal meetings with the supervisor in attending once more this is making a clear construction. How the meetings should be conducted? Ability – plentifulness of treatments inquiries to guarantee supervisor gets points you’re devising. Let supervisor to hold their say and input – By inquiring inquiries this will let supervisor to hold their say and input. Informally instead than officially. don’t want supervisor to experience under limelight – Due to the nature of the building industry and particularly on site it is instead informal. hence if the meetings are held in the same mode this should enable the in-between line directors to acquire the most out of the supervisors. From analyzing the assorted different theoretical accounts and uniting with general in-between direction duties I believe the process I have put in topographic point will significantly assist with the transportation of information from site to board degree likewise. 3. 0 Disseminate information on a direction determination. through the right organizational channels 3. 1 Communicate information to team member or other co-workers to run into concern aims. utilizing appropriate organizational channels In mention to the process set up this should let for the changeless communicating of how a specific occupation is executing from site degree to the board of managers and in peculiar through the right organizational channel. To lucubrate on the above ; Site Supervisors will hold changeless duologue with in-between directors on a day-to-day footing. with a hebdomadal advancement held on site to discourse public presentation. Munities of the meeting with be typed up and public presentation analysed with cognition added to explicate how public presentation is runing? Are we traveling to hit our mark? Be on clip? Within budget? To call a few of the inquiries answered? This will so in bend be disrupted to the relevant manager. finance manager and the direction comptroller. This will so be discussed on hebdomadal footing in the departmental hebdomadal advancement meeting. and the biweekly Trading Review run intoing with finance with the relevant managers. This in bend so can be reported back to the MD by the relevant managers when board degree meeting happens. As you can see from the process put in topographic point we will let for the coverage from site to board of managers level to be on a hebdomadal footing instead than a monthly as is presently in topographic point. this in bend will give us every chance possible to accomplish the best possible result in regard of the building trigon. Delivering the occupation on clip. within budget to a high criterion. 3. 2 Communicate information to stakeholders or clients to run into concern aims In mention to the process as mentioned antecedently this will let for the changeless flow of information from site to pull offing managers ( stakeholders ) to be done on a hebdomadal footing. In regard of clients or clients quiet the building trigon is cardinal. hence by holding hebdomadal advancement meetings this information will be able to be fed back to the client. giving them the assurance that we are seting their demands foremost ‘the client is ever right ethos’

Vanity Presses

Vanity Presses The world would be glorious indeed if authors could write then hand off the manuscript to an entity that published the book, put it out there, and made it sell. Wed come up from our deep mental state of storytelling, occasionally check on statistics, cash the checks, and create to our hearts content. We wouldnt have to do social media every day. No speaking in public. No guest blogging. No shaking hands with bookstore owners or cold-calling book clubs in hopes of being selected for one of its 2016 choices. But an author isnt allowed to just write. He is if he doesnt care how many books sell, but if he isnt writing to be read, why is he writing at all? Here lately, Ive had a rash of requests from frustrated new authors. Way more than usual. They state they have a publisher who believes in their work, and for their investment of $3,000, $4,000, even $9,000, their book would be everywhere . . . even on Amazon! So, lets define a vanity press for those of you who are not sure how to avoid these people who will take your money and not care whether you sold your first child into slavery to do it. 1) They offer an entire turnkey program so you dont have to worry . . . for a four-figure fee. 2) They try to sell you a marketing package. Sorry, but you are the marketer. And bookstores know these vanity presses and dont want to read those pretty marketing publications that supposedly go out to an eager world of book buyers. 3) The price on your book is higher than the norm. How do you know this? Because you have done your homework and look in the bookstores or on Amazon to see what the norm is. Twenty dollars for a romance paperback isnt the norm. 4) They offer payment plans. 5) Their websites talk more about how to publish than about the books that have been highly successful. Their business is selling publishing packages, not books, unless they are selling those books to hungry authors. The reader is not the focus of their business. Most of you know to avoid vanity presses. There are too many other ways to publish in which you have more control and make far more money, but like anything in publishing, you have to do the promotion. If you write a book for family and friends and dont care about how books are made or sold, then vanity press publishing might be the answer. But the next time you are in the bookstore, take a list of vanity presses with you . . . and let me know how many of their books you see on the shelves.