Friday, November 29, 2019

Corporate finance and Volatility

Table of Contents Introduction Importance of WACC Calculating the cost of capital Cost of debt Cost of preference capital Conclusion Reference List Introduction Stocks’ beta expresses how much the stock prices may change as a result of changes in the financial market prices. A stock’s beta of 1.06 indicates that for a 1% change in general market prices, the price of the particular stock will change by 1.06%. Such a stock price is considered to be less volatile.Advertising We will write a custom assessment sample on Corporate finance and Volatility specifically for you for only $16.05 $11/page Learn More Assets’ beta is the average of the different sources of finance that a firm chooses. The assets’ beta for a company that has been financed without debts is equal to equity’s beta. Weighted cost of capital represents the least amount of return that an investment can offer stakeholders. When the expected rate of return from a project is lower than WACC, it is considered unviable. Managers may consider those that break-even because of the economic level of returns. However, a project must have a higher rate of return than WACC before wealth is created for holders of securities. A majority of firms uses debts to finance growth rather than wait for the profits. Fabozzi et al. (2008, p. 507) discuss that when a firm has no debt, â€Å"the beta of its equity is the same as its assets’ beta.† They also note that it is very rare for a company to operate without incurring some debts. Using debts makes a company’s equity riskier. Fabozzi et al. (2008, p. 507) explain that financial leverage causes â€Å"the market risk of a company’s stock to be higher than its asset’s risk.† In that case, equity’s beta exceeds assets’ beta. When the firms choose to fund assets by a combination of equity and debts, the risk involved is shared between the two groups o f stakeholders. Fabozzi et al. (2008, p. 508) discuss that the â€Å"asset market risk is the weighted average of the company’s debt beta and equity beta because the asset’s risk is shared between creditors and owners.† In simple terms, the asset beta = debts beta (fraction of assets from debts) + equity beta (fraction of assets from equity). The equation of assets’ beta average is true because the variations from equity’s and stocks’ betas are correlated. The effect on one source of capital influences the chance of the other sources volatility.  Corporate taxable income is generated after deductions of interest paid on loans. The effect reduces what a firm pays as tax which makes their burden less. On the other hand, interest received by creditors is taxed after it is paid to them.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As a result of interest on debt being deductible, debts beta in most cases is assumed to be negligible.  WACC is used to â€Å"evaluate the impact of debt-financing on risk and returns to investments† (Geltner et al. 2010, p. 307). Leverage is a term used to describe the common practice used by firms to fund their projects from debts, and equity. The WACC is derived from the formula of basic holding period return (HPR). The formula expresses assets as a sum of debts and equities. It also equates property cash flow to the sum of debt cash flow and equity cash flow. The returns received are shared by holders, and creditors. It is derived from the returns to capital generated by the firm. WACC represents the least rate of return on a project that evaluators consider before allowing a business plan to be implemented. The formula for WACC as presented by Hawawini Viallet (2011, p. 410) is shown below. In this case, kE represents cost of equity and kD is the cost of debt before taxation. B ierman (p. 195) discusses that WACC can be interpreted as â€Å"the cost of both current capital and an additional dollar of new capital if the existing capital structure is maintained†. The existing capital structure refers to the percentage of debt and securities that have been used to finance a project. Debts tend to reduce WACC because of tax deductions. As it can be seen in the formula â€Å"1 – tax rate† has a lesser effect on WACC compared to equity when the cost of capital is considered equal for both equities.  WACC includes returns to creditors and shareholders. Baker and Martin discuss that WACC is the â€Å"cost of raising funds to the firm† (2011, p. 192). On the other hand, it is the rate of return that investors consider before lending a firm. Creditors receive interest on money owed to them. Shareholders expect dividends, and gains in market value. The gains in market value are only possible if the firm chooses growth opportunities with higher rates of return than WACC. A firm can only add value to its capital after exceeding the rate of return owed to investors. The investors evaluate the firm’s strategy, opportunities of growth, and risk.Advertising We will write a custom assessment sample on Corporate finance and Volatility specifically for you for only $16.05 $11/page Learn More When a business opportunity promises slow growth, investors consider it as a high risk investment. Slow growth reduces a firm’s ability to repay its debts. For this reason, investors may require higher interest rates which may make a project unviable. The rate of return expected by investors also depends on what other financial assets receive as returns. Firms choose to finance their assets with a mixture of debt, preference shares and common equity. They choose a mixture that optimizes the price of their stock. Besley and Brigham (2009, p. 485) discuss that WACC â€Å"represents the minimum return the firm must earn on its investments to maintain its current level of wealth†. Besley and Brigham (2009) provide the formula below for calculating WACC. The WACC of most companies represents the average cost of its capital. Lumby and Jones discuss that the WACC of most companies may not be used to rate individual projects because most companies have their investments diversified (2003, p. 427). The WACC in most cases reflects the â€Å"average level of systematic risk throughout all its operations† (Lumby and Jones 2003, p. 427). Companies consider diversification as a means of reducing risk. The volatility of an individual project carried out by a company is unlikely to be represented by WACC because most companies calculate the overall value. The returns expected from different securities vary. Different capital sources carry different weights. Lumby and Jones (2003, p. 748) explain that â€Å"changing a firm’s capital structure changes its WACC†. Debts are an obligation. They are considered before financial assets. Dividends and other benefits are paid to preference shares before common shares.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Importance of WACC A higher WACC will require that the performance must be higher before generating wealth for stakeholders. Megginson Smart discuss that firms use WACC to value the amount of effort needed before the firm can actually generate returns for shareholders (2010, p. 420). The firm’s market value declines if its WACC increases as a result of factors that the firm cannot control. Megginson Smart discuss that when a firm’s WACC is increased by an event it cannot address â€Å"its existing assets and its prospective investment opportunities become less valuable† (2010, p. 420). Such an effect can be expressed through a drop its market value. Such investments may go for a long period without dividends. Calculating the cost of capital Cost of capital involves what investors are willing to receive regularly as a result offering finances. Benninga Czaczkles discuss that the present value of stock can be obtained from the discounted annuity values using an ticipated growth in dividend streams (2000, p. 28). They give an example in which the expected growth of dividends is 10%. The following year, the dividend received on each share is $3. The present value of each share (Po) can be expressed as shown below. In this case, rE is the cost of equity/discount rate. D1 is used to represent the expected dividend, and g to represent the expected dividend growth rate. According to Benninga Czaczkes (2000, p. 29), the formula is summarized as shown below. This formula holds only for firms with normal growth. This is the Leonhard Euler derivation. For supernormal growth where g rE, the Gordon Model is applied. The formula for the Gordon Model which has been discounted over five years can be expressed as shown below. According to Benninga Czaczkes (2000, p. 31), the cost of equity under Gordon Model is expressed as shown below. Considering that anticipated dividends can be expressed in terms of the dividends received in the current year (Do ). The formula for the cost of equity is expressed as shown below. In the classic SML (Security Market Line) model, the formula for calculating the cost of equity is expressed as shown below (Benninga Czaczkes 2000, p. 35). In this case, rf represents the rate at which investment is considered safe, and E(rM) represents the interest rates that the financial market are expected to generate. The risk-free rate of return is reflected in financial assets with the least amount of risk such as interest rates on securities issued by government (Bennninga Czaczkes 2000). Treasury bills are considered risk-free indicators because governments are unlikely to default. When the expression is adjusted to integrate corporate tax, the expression becomes as shown below (Benninga Czackles 2000, p. 36). TC is the corporate tax rate. The cost of newly issued stock is expressed as shown below (Calculating the Cost of Capital n.d., p. 3). The cost of retained earnings is expressed below using ris k-free rate, market expected rate, and stocks beta (Calculating Cost of Capital n.d, p. 2). using the discounted cash flow approach. Cost of debt The cost of debt has different approaches. Benninga Czaczkes (2000) discuss that the cost of debt can be estimated using a firm’s existing average cost of debt even though it is not an accurate measure. The cost of debt is expressed as shown below (Calculating Cost of Capital n.d., P. 1). rd is the rate of return expected by investors to be paid on debts. Cost of preference capital Preference capital is associated with preference shares. Debts reduce the amount of corporate tax that a firm is entitled to pay. Khan Jain (2007) discuss that preference share differs from debts because payments on preference shares are made after tax deductions. Some preference shares are redeemable at maturity while others do not have a fixed maturity date. Both types receive annual fixed rates of return. Khan Jain (2007, p. 11.10) express the co st of irredeemable shares in two expressions as shown below. In this case, kp represents cost of preference capital, Dp is the fixed dividend, Po is the expected preference share price, f is the floatation costs expressed as a percentage of share price, and Dt is the tax rate on preference shares dividend. Preference shares that have a maturity date and a stream of earnings are discounted to a present value. Khan Jain (2007, p. 11.10) express that the cost of preference shares with a maturity date â€Å"is the discount rate that equates the net proceeds of sale of preference shares with the NPV of future dividends and principal repayments†. This means that capital gains that an individual obtains today from sales are compared to the gains of holding the preference shares to maturity. The cost of preference shares with a maturity date is expressed as shown below. Po represents share price, f is the flotation cost expressed as a percentage of share price, Dp is for dividend, and Pn is the amount paid at maturity. Kumar (2010) gives a more simplified formula for the cost of redeemable share capital as shown below. D represents dividends, M.V is the value on maturity, N.P is the net streams gains received on preference shares, n is the number of years. Using the average cost of 25% tax, the asset beta can be calculated using the formula below. The asset beta is expressed as: asset beta= Equity beta/ (1 + (1 – tax) D/E) (Asset Beta n.d.). D is the percentage of financing received from debts, and E from Equity. Asset beta = 1.06/ (1+ (1 – 0.25) 0.35/0.65)) = 0.755 However, since the tax rate is still unknown, the cost of equity can be estimated using stocks’ beta and market rate of return. The WACC is then used to express the volatility of expected returns. From this formula equity beta can be generated as follows: cost of equity = risk free rate of return + beta (market rate of return – risk free rate) Cost of equity = 0.0395 + 1.06 (0.0601 – 0.0395) = 0.061336 KE is the cost of equity and KD is the cost of debt before taxation The value of Equity/ total capital can be expressed as: Equity = 45/60 * 100% = 0.75 The value of debt as a fraction of the total capital is represented as: Debt = 15/60 * 100% = 0.25 WACC = (0.75 * 0.061336) + (0.25 * 0.0485) = 0.046002 + 0.012125 = 0.058127 This is approximately 0.058. The WACC estimates the least returns expected from investments. It influences the volatility of stock prices. From the expression in the question: This indicates that the assets’ beta can be calculated from the sum of the product various sources of capital and their beta. Asset beta = (0.75 * 1.06) + (0.25 * 0.058) = 0.795 + 0.0145 = 0.8095 Asset beta = 0.8095 The volatility of the stock market is derived from the asset beta. A value of less than 1 indicates that the assets are less volatile. b) The same formula is applied to calculate the asset value of Coral Gambles’ Asse t beta by first calculating the WACC. This is used as an estimate of the debt beta. From, the explanations above, the debt beta is always close to zero. WACC = (0.65 * 0.061336) + (0.35 * 0.0545) = 0.0398684 + 0.019075 = 0.0589434 WACC value of 5.9% (0.0589) indicates that an additional unit of capital may cost the firm 5.9% interest. The firm must invest in projects that generate above the 6% rate of return for shareholders to get capital gains. Asset beta = (0.65 * 1.06) + (0.35 * 0.059) = 0.689 + 0.02065 = 0.691 According to Bragg (2012, p. 142), the cost of common stock is â€Å"risk-free return rate + beta (average stock return – risk free return†. From this formula, it can be derived that stock beta = (cost of stock – risk-free rate) / (expected market return – risk-free rate) Cost of stock = 0.0395 + 0.691 (0.0601 – 0.0395) = 0.054 Coral Gambles’ Stocks beta = (0.054 – 0.0395) / (0.0601 – 0.0395) = 0.0145/ 0.0206 = 0.703 9 The common stock’s beta indicates the value by which the firm’s stock price changes as a result of variations in the general stock prices. A value of 0.7039 indicates that when the market value changes by 1%, the stock price of Coral Gambles varies by 0.7%. This shows that Coral Gamble stock price is less volatile that the overall market prices. WACC = (0.65 * 0.0601) + (0.35 * 0.0545 (1 – 0.25)) = 0.039065 + 0.0143 = 0.053365 From this calculation, it can be interpreted that investments must generate above the 5% rate of return for the project to add value to shareholders. The least acceptable cost of capital is 5%. This is the point where the firm operates at break-even. Conclusion The market stock’s beta of the similar company is more volatile than Coral Gamble stocks or the general market price. Coral Gamble stock price is less volatile than the average market prices. The WACC for both companies indicate that the CFO needs to search for growth oppo rtunities that generate more than 6% rate of return. Investors may consider interest rates that are close to 5%. The price (Po) generated in the calculation of share price is the discounted value of the current share price, and expected income streams. The income streams are paid to shareholders as yield per share or dividends. The assets’ beta indicates less volatility than stocks’ beta. However, the stock’s beta generates its volatility from assets’ beta. The Coral Gamble assets’ beta indicates that the firm’s assets are more stable than shifts in market prices, and interest rates. The asset beta has been calculated as a sum of the impact caused by the volatilities of different sources of capital. It can also be calculated from the equity beta, ratio of debts to equity, and tax rate. Equity beta is the beta quoted by financial reports as stock price volatility. Assets’ beta is equal to equity in situations where a firm has not used debts to finance its assets. The impact of debts’ beta on asset beta is reduced by the fact that it reduces corporate tax. Reference List Asset Beta n.d. Web. Baker, H, Martin, G 2011, Capital Structure and Corporate Financing Decisions: Theory, Evidence, and Practice, John Wiley Sons, Hoboken. Benninga, S, Czaczkes, B 2000, Financial Modeling, Massachusetts Institute of Technology, Cambridge. Besley, S, Brigham, E 2009, Principles of Finance, South-Western Cengage Learning, Mason. Bierman, H 2010, An Introduction to Accounting and Mangerial Finance: A Merger of Equals, World Scientific Publishing, London. Bragg, S 2012, Business Ratios and Formulas: A Comprehensive Guide, John Wiley Sons, Hoboken. Calculating the Cost of Capital n.d. Web. Fabozzi, J. F, Drake, P. P, Polimeni, S. R 2008, The Complete CFO Handbook: From Accounting to Accountability, John Wiley Sons, Hoboken. Geltner, D, Miller, N, Clayton, J Eichholtz, P 2010, Commercial Real Estate Analysis Investmen ts, Cengage Learning, Mason. Hawawini G, Viallet, C 2011, Finance for Executives: Managing for Value Creation, South-Western Cengage Learning, Mason. Khan, M, Jain, P 2007, Financial management, Tata McGraw-Hill, New Delhi. Kumar, V 2010, Cost of Preference Share Capital. Web. Lumby, S, Jones, C 2003, Corporate Finance: Theory and Practice, South-Western Cengage Learning, Mason. Megginson, W, Smart, S 2010, Introduction to Corporate Finance, South-Western Cengage Learning, Mason. This assessment on Corporate finance and Volatility was written and submitted by user Jaylyn B. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Monday, November 25, 2019

Threading Introduction in Visual Basic

Threading Introduction in Visual Basic To understand threading in VB.NET, it helps to understand some of the foundation concepts. First up is that threading is something that happens because the operating system supports it. Microsoft Windows is a pre-emptive multitasking operating system. A part of Windows called the task scheduler parcels out processor time to all the running programs. These small chunks of processor time are called time slices. Programs arent in charge of how much processor time they get, the task scheduler is. Because these time slices are so small, you get the illusion that the computer is doing several things at once. Definition of Thread A thread is a single sequential flow of control. Some qualifiers: A thread is a path of execution through that body of code.Threads share memory so they have to cooperate to produce the correct result.A thread has thread-specific data such as registers, a stack pointer, and a program counter.A process is a single body of code that can have many threads, but it has at least one and it has a single context (address space). This is assembly level stuff, but thats what you get into when you start thinking about threads. Multithreading vs. Multiprocessing Multithreading is not the same as multicore parallel processing, but multithreading and multiprocessing do work together. Most PCs today have processors that have at least two cores, and ordinary home machines sometimes have up to eight cores. Each core is a separate processor, capable of running programs by itself. You get a performance boost when the OS assigns a different process to different cores. Using multiple threads and multiple processors for even greater performance is called thread-level parallelism. A lot of what can be done depends on what the operating system and the processor hardware can do, not always what you can do in your program, and you shouldnt expect to be able to use multiple threads on everything. In fact, you might not find many problems that benefit from multiple threads. So, dont implement multithreading just because its there. You can easily reduce your programs performance if its not a good candidate for multithreading. Just as examples, video codecs may be the worst programs to multithread because the data is inherently serial. Server programs that handle web pages might be among the best because the different clients are inherently independent. Practicing Thread Safety Multithreaded code often requires complex coordination of threads. Subtle and difficult-to-find bugs are common because different threads often have to share the same data so data can be changed by one thread when another isnt expecting it. The general term for this problem is race condition. In other words, the two threads can get into a race to update the same data and the result can be different depending on which thread wins. As a trivial example, suppose youre coding a loop: For I 1 To 10 DoSomethingWithI()Next If the loop counter I unexpectedly misses the number 7 and goes from 6 to 8- but only some of the time- it would have disastrous effects on whatever the loop is doing. Preventing problems like this is called thread safety. If the program needs the result of one operation in a later operation, then it can be impossible to code parallel processes or threads to do it.   Basic Multithreading Operations Its time to push this precautionary talk to the background and write some multithreading code. This article uses a Console Application for simplicity right now. If you want to follow along, start Visual Studio with a new Console Application project. The primary namespace used by multithreading is the System.Threading namespace and the Thread class will create, start, and stop new threads. In the example below, notice that TestMultiThreading is a delegate. That is, you have to use the name of a method that the Thread method can call. Imports System.ThreadingModule Module1 Sub Main() Dim theThread _ As New Threading.Thread( AddressOf TestMultiThreading) theThread.Start(5) End Sub Public Sub TestMultiThreading(ByVal X As Long) For loopCounter As Integer 1 To 10 X X * 5 2 Console.WriteLine(X) Next Console.ReadLine() End SubEnd Module In this app, we could have executed the second Sub by simply calling it: TestMultiThreading(5) This would have executed the entire application in serial fashion. The first code example above, however, kicks off the TestMultiThreading subroutine and then continues. A Recursive Algorithm Example Heres a multithreaded application involving calculating permutations of an array using a recursive algorithm. Not all of the code is shown here. The array of characters being permuted is simply 1, 2, 3, 4, and 5. Heres the pertinent part of the code. Sub Main() Dim theThread _ As New Threading.Thread( AddressOf Permute) theThread.Start(5) Permute(5) Console.WriteLine(Finished Main) Console.ReadLine()End SubSub Permute(ByVal K As Long) ... Permutate(K, 1) ...End SubPrivate Sub Permutate( ... ... Console.WriteLine( pno pString) ...End Sub Notice that there are two ways to call the Permute sub (both commented out in the code above). One kicks off a thread and the other calls it directly. If you call it directly, you get: 1 123452 12354... etc119 54312120 54321Finished Main However, if you kick off a thread and Start the Permute sub instead, you get: 1 12345Finished Main2 12354... etc119 54312120 54321 This clearly shows that at least one permutation is generated, then the Main sub moves ahead and finishes, displaying Finished Main, while the rest of the permutations are being generated. Since the display comes from a second sub called by the Permute sub, you know that is part of the new thread as well. This illustrates the concept that a thread is a path of execution as mentioned earlier. Race Condition Example The first part of this article mentioned a race condition. Heres an example that shows it directly: Module Module1 Dim I As Integer 0 Public Sub Main() Dim theFirstThread _ As New Threading.Thread( AddressOf firstNewThread) theFirstThread.Start() Dim theSecondThread _ As New Threading.Thread( AddressOf secondNewThread) theSecondThread.Start() Dim theLoopingThread _ As New Threading.Thread( AddressOf LoopingThread) theLoopingThread.Start() End Sub Sub firstNewThread() Debug.Print( firstNewThread just started!) I I 2 End Sub Sub secondNewThread() Debug.Print( secondNewThread just started!) I I 3 End Sub Sub LoopingThread() Debug.Print( LoopingThread started!) For I 1 To 10 Debug.Print( Current Value of I: I.ToString) Next End SubEnd Module The Immediate window showed this result in one trial. Other trials were different. Thats the essence of a race condition. LoopingThread started!Current Value of I: 1secondNewThread just started!Current Value of I: 2firstNewThread just started!Current Value of I: 6Current Value of I: 9Current Value of I: 10

Thursday, November 21, 2019

Paper 2 Essay Example | Topics and Well Written Essays - 2000 words

Paper 2 - Essay Example The series is about a prominent New York City dweller named David who decides to leave the city and visit his parents in a Florida retirement community and also to attend his mother’s birthday celebration. On arrival he meets both his parents in a jovial mood and receives a warm welcome. His attention however is split between his folks and his job as he is receiving numerous calls from his boss back in New York, something his father is not so happy about and this leads him to him quitting his job to decide on what he really wants with his life. His decision is taken well especially by his mother, Elaine Robbins who claims to have been inspired by it so much and decides to leave his father, Alan Robins to go to Portugal and pursue her dream of becoming a painter. David finds himself in between a rock and a hard place as he juggles between his father’s interests and his mother’s, who comes back to Florida after her Portugal endeavour proves a failure, after the two choose to remain separated. Coming back to his parents place also opens a new chapter in his life with relation to his childhood best friend, Brandon his love life and the fact that he is now retired at only the age of thirty five. This TV series generally shows the oddity of having a successful business then retiring at the age of thirty five and having to live with one’s parents, an elderly couple who are having issues in their marriage. It also shows what impact friends can have on someone and how too much bonding with ones parents at this age can affect the normal day to day routine. The target audience for ‘Retired at 35’ in my view, would be young people of the age late twenties to early forties both female and male with a slim positive bias to the male audience as the jokes in the series tend to be capitalized on David’s bad luck, who is a thirty five year old male. Also the inclusion of the words ‘texturing’, ‘tittering’ and ‘facial book’

Wednesday, November 20, 2019

PEST Analysis on Financial Crisis As effecting the Essay

PEST Analysis on Financial Crisis As effecting the internationalization of the Fast Food Industry - Essay Example It got 9.5 out of 10- one of the highest ranks. The government is supportive of business ventures initiated by foreign investors and has created incentives like a strong pool of educated workforce, impeccable infrastructure and consistent policies to attract investments. The peaceful conditions also provide security of business for startups or franchises which expand into the nation. There is low tolerance of hard corruption within the Japanese culture and that is reflected in their government so there will not be unnecessary hassles or hurdles for investors looking to develop the market. The Nikkei Keizai Newspaper reported in 2010 that government of Japan was going to introducing preferential tax rates from foreign companies investing in Japan as one of the incentives, they have also established FAZ (Foreign Access zones) as a measure towards creating convenience and value for these investors. A Fast food industry would benefit from these policies like any other industry or firm op erated by foreigners; supply of equipment, raw material (for the actual food) and transport of necessary technology or resources will be easier as well. Some effect on the emerging industry practices will also be from the â€Å"Antimonopoly Act (AMA)† set by the government which includes the Act on prohibition of private Monopolization and Maintenance of Fair Trade and several other stator laws. The intended purpose of the law is to discourage any single firm to have a hold on the pricing and supply of an industry- hence the fast food industry would be better served if instead of a single franchise, different franchises entered the market together. Furthermore, the â€Å"system of labour law operating in Japan† which includes the ‘employment agreement’, ‘independent contractor agreement’ or ‘mandate agreement’ might make operations difficult for the franchises which run on the US based system of hiring workers without long term ag reements. 2.2 Economic Conditions Japan is the third largest economy in the world and its economy depends on the international trade. According to 2011-2012 salary survey, the average annual income is about 3,611,556 JPY (48,000 USD).A lack of natural resources such as forests, agricultural plains, mineral deposits etc have forced Japan to build its economy on trade, to earn money to purchase the raw materials for the economy. Japan is the 5th largest importer and exporter in the world. It depends on importing certain commodities such as fuels, foodstuffs, chemicals, textiles and raw material from several countries for its industrial sectors. But Japan has also cultivated a mature industrial economy by reserving industrial leaders and technicians and a well-educated and industrious workforce, promoting a culture of high savings and investment rate and intensive promotion of industrial development and foreign trade, making it one of the major importers of technology and electronic de vices in the world. Japan experienced the greatest rate of economic growth From 1960s to 1980s, known as the ‘post war economic miracle’

Monday, November 18, 2019

Qualitative Research Problem and Design Essay Example | Topics and Well Written Essays - 1500 words

Qualitative Research Problem and Design - Essay Example The main methods for collecting qualitative data include individual interviews, focus groups, observations and action research. Many factors were considered in deciding the appropriate research methodology. A qualitative approach is effective in solving the problem in this case because it can create new theories. As the researcher attempts to understand the topic, he or she will have to interact with the participants. In addition, the researcher will have to study existing information about the topic. The practice may lead to the discovery of a new theory. Qualitative research is important when addressing a new phenomenon in the society or examining an important issue in the country (Jamshed, 2014). The possibility of discovering a new theory is important because it could result in a better understanding of student performance in mathematical subjects. In addition, qualitative analysis is likely to explain the relationship between things and demonstrate their effect in that situation. As a result, it contributes towards the development of a better understanding of the issue. Furthermore, the method is characterized by observation or reading information. The researcher is expected to respond to the insights learned from this approach through writing. Consequently, it contributes towards the growth of the existing body of knowledge about a topic. Qualitative research is based on a theoretical framework (Bendassoli, 2013). As a result, it shall be addressing an important issue in the society that is important for the well-being of the society. Addressing the high failure rates will enable the country to enhance its competitiveness. Furthermore, qualitative research is flexible. Instead of applying a rigidly defined framework, research method and data collection style, a flexible approach is important in developing a holistic understanding of an issue. The method involves the collection of data using observational

Saturday, November 16, 2019

Organisational Change And Development In Royal Mail

Organisational Change And Development In Royal Mail This assignment has been undertaken in order to examine and evaluate the modernisation of the Royal Mail. It will begin with identifying the reason for change within the company, and how the need for change was detected. After which the implementation of planned change in the Royal Mail will be discussed and its effectiveness will be evaluated. The resistant factors they met whilst trying to implement this modernisations programme will also be discussed. An evaluation of the planned change will be conducted in order to assess the extent of its effectiveness. The report will conclude will an analysis of the Business Transformation 2010 and Beyond National Agreement between Royal Mail the Communication Workers Union, implications for failure will be assessed from this agreement; theory will be linked throughout the report with evidence and discussion. Table of contents Introduction (p. 4-5) Main Findings Reasons for modernising the Royal Mail (p. 6-7) How change was planned in the Royal Mail (p. 8-10) Types of change (p. 11) Resistance to change in the Royal Mail (p. 12-13) Kurt Lewins 5 Force analysis applied to the Royal Mail (p. 14) Kotters 8 step plan applied to the Royal Mail (p. 15) Effectiveness of the Planned change in the Royal Mail (p. 16) Implications of failure (p. 16) Reference/Bibliography (p. 17-) Introduction The Royal Mail is part of the fabric of the country and the lives of the millions of people who use it every day. Uniquely it has the network of people and sorting offices spanning the country that can deliver to every household and business at one price, six days a week. But the future of this network is under threat as people increasingly switch to digital technology as their preferred way of communicating (Mandelson, 2009). Rollinson (2005) identified the term change refers to an organisation having to move from one situation to another, in the modern world being able to change can also be the dividing factor of an organisations failure or success, Beer and Nohria (2000) also identified that 70% of all change initiatives fail. Martinez et al (1997) identified five change objectives set out by Royal Mail in the 1980s as: privatization, modernization, commercialization, separation and automation, of these modernisation, which is the main focus of this report, automation and privatisation are still not finalised, thirteen years after this article was written. The Labour government has been pushing for privatisation of the Royal Mail for years ever since the Thatcher government, it believed the move would aid in financing part of the pension deficit and also make the company more competitive in this liberalised market, which was introduced in 2006. Lord Mandelson was pushing legislation up to 2009 in the hope of selling parts of the nationalised company (Hooper et al, 2008; Porter and Griffiths, 2008; Porter, 2009; Datamonitor, 2008). Hooper (2009) states that modernisations without privatisation would be very difficult due to the constant intervention from government, Private postal companies throughout the world have identified this constant intervention as the major factor in union disputes (Hooper et al, 2008). Resistance from the CWU on modernisation has been a constant topic as they believe that modernisation will bring about job losses, such resistance has especially been seen in the last two years by way of two massive strikes by postal workers (Poulter, 2009; Hooper et al, 2008). These strikes came at one of the worst times in UK history, a recession was in full force for the second in 2009, however after recording loses over many years the Royal Mail made a 4% profit in 2009 of  £184 million compared to 2008 figured of  £177 million, unfortunately this profit was overshadowed with the overall drop in group revenue due to a decline in mail volumes because of the downturn and a rise in digital media, this has led to a 5-7% yearly drop in sales since 2005, during this time staff were informed there would be pay freezes which inflamed already tense relations with the union (Royal Mail, 2009; Prince, 2009; Hooper et al, 2008). In 2000 the postal services act which governs the postal industry within the UK was introduced, the act provided for the Post Office to be converted to a PLC, set in place a new licensing system, gave the postal services commission (Postcomm) powers to protect the universal service, promote greater competition within the UK market and offer more protection to consumers with the introduction of Postwatch (Hooper et al, 2008). Main Findings Reasons for modernising the Royal Mail Hooper et al (2008) has stated for the Royal Mail to become competitive in this it must first become more efficient, in order to become more efficient it must modernise. It must be noted that even though the country is in a recession which had a major impact on the company, this was not a reason for the company to modernise (Hooper et al, 2008). There are eight reasons for modernisation of the Royal Mail listed below: Universal Postal Service (UPS): The main reason for change which the CWU also agreed upon is the survival of the UPS, which is the collection of mail six-days a week from 28 million homes and business across the UK, at prices which remain independent and set at a tariff no matter the distance up and covers five areas: up to 2kg for letters and packets (priority and non-priority), up to 20kg for parcels (non-priority), registered and insured service, international outbound services and offering services which support the security of mail (Hooper et al, 2008; POSTCOMM, 2010). Pricing: The introduction of a 5% weighted average increases by Royal Mail in 2007-2008 led to a reduction in revenues, sales volumes fell as customers increased their use of electronic media, business switched to competitors and there was an increased use of second class mail. It is known that the UK offers some of the lowest postal costs compared too many other European countries so increases are justify but the implementation must be able to offset lost revenue. As volumes fall due to digital media the better choice may be to implement price decreases instead to stimulate growth (Hooper et al, 2008). Pension deficit: This is one of the largest within the UK currently standing at  £4 billion; also until recently it was still possible to sign up for this pension. Figures in 2008 showed it had risen by  £2.5 billion since 2006 (75% increase). Due to the costs in paying the deficit, which is currently  £280 million per year and will continue for the next 15 years, competing within Europes liberalised market is made very difficult. The deficit is almost six times larger than the cash generated by Royal Mail making it a very volatile problem (Hooper et al, 2008). Improved efficiency: The Royal Mail is 40% less efficient compared to its competitors. Its network of mail centres and delivery offices have not been upgraded in years, Automation is severely inefficient with 70% of mail being sorted by machine compared to 95% in European companies, also all mail is hand delivered compared to 15% hand deliveries in Europe with walking sequence machines cover the remaining 85% (Hooper et al, 2008). Working practices: Certain working practices such as early finishes restrict Royal Mails efficiency to provide a better service, upon finishing rounds postal workers are eligible to return home no matter how early, they can also claim overtime on extra hours worked to finish a round or can decide to simply not finishing the round. Covering for absence only when receiving overtime, not using equipment at the instruction of the CWU and demarcation, employees refusing to work in other areas of the same site (Hooper et al, 2008). New technology: The volume of mail sent has been on a decline even since 2005, this is due to the rising use of digital media, this is being felt across the world with the UK showing one of the highest fall off figures, -3.2% in 2006-2007, however the internet also provides opportunities by way of the online shopping market as home deliveries have jumped in recent years making this a highly profitable market, also the Royal Mails use of machines to sort letters covers 70% while the some of the leading European companies are hitting 95% (Hooper et al, 2008; Warner, 2009). Competition: 2006 saw the Royal Mail lose its 350 year monopoly on the UK postal market, going forward any licensed operator can deliver mail to residential and business customers in the liberalised market of which Royal Mail controls 99% , although the Royal Mail still is required to provide a universal postal service (BBC, 2005), research conducted by Lawson (2010) indicates that the national operators in countries such as Germany and Sweden continued to hold onto the majority share of the market years after it became liberalised. Electronic media such as email is also a threat to the company as it become more popular. Transportation net working costs: The rising costs of fuel is having a hugely negative impact on the Royal Mail, employees uses over 30,000 vehicles to deliver mail (Hooper et al, 2008), the Royal Mail (2008) has identified a loss in revenue due to higher costs of fuel. However, Attwood (2010) states the Royal Mail is set to trial new Ford Transit vans powered by hydrogen-fuelled internal combustion engines in an effort to reduce fuel costs, plus they are also environmentally friendly as they only emit water vapour. How change was planned in the Royal Mail Planned change was a term first coined by Kurt Lewin to distinguish change that was consciously embarked upon and planned by an organisation, as averse to types of change that might come about by accident, by impulse or that might be forced on an organisation (Burnes, 2004). Hooper et al (2008) had reported that the universal postal service cannot continue under present policies, problem areas have been identified as the pension deficit, performance and relations between the Royal Mail, unions and the regulator. The BERR report of 2009 includes recommendation made by the Modernise or Decline report compiled by Hooper et al (2008), in which it identifies three main areas for the Postal Services Bill to address: Regulation: Transferring responsibility of regulation which Postcomm currently holds to Ofcom, providing for future financial support for the UPS, extending competition law powers to the postal market and providing for a new access regime (BERR, 2009). Pensions: Provide powers to establish a new government scheme, rights to move members to the new scheme, amend the existing scheme, set out a new division for Post Office Ltd employees and the ability to transfer assets from the scheme to government (BERR, 2009). Partnership: Royal Mail companies providing the UPS will remain in the public sector, part- privatisation of the Royal Mail, Hooper et al (2008) has identifies this as being a necessity if the company is to achieve modernisation and additional legislation being obligatory for a Government to sell more than a minority stake in the company (BERR, 2009). Planned change is more related to the Royal Mail compared to Emergent change as it involves strategically thought-out and planned objectives/goals, which are used to change the environment of an organisation, whereas emergent change is unpredictable and dynamic, does not work off plans compared to planned change and is continuous (Burnes, 2004) Although these changes were planned and most were implemented in the 2010 National Agreement, part-privatisation of the Royal Mail received alot of criticism from other party members and the CWU. due to the currently climate Peter Mandelson admitted he was unable to find a suitable candidate for the investment so ended the proposed privatisation plans from the postal services bill (Wintour and Webb, 2009). To fully understand planned change it is necessary to look at the works of Kurt Lewin who is regarded as being the father of planned change, he believed that only through learning and the understanding of the environment in which an individual is based, could a resolution to social conflicts be achieved and improved. Lewin developed four methods which were necessary in reaching planned change; three-step model, field theory, group dynamics and action research (Burnes, 2004). The Three-Step model: This is praised as being Lewins contribution to the study of organisational change, although the three-step model was not intended to stand alone but be part of his over-all Planned approach to change, which also included the field theory, group dynamics and action research (Burnes, 2004). The three step model is based on Lewins belief that successful change is brought about by using three steps moving from one fixed state (Unfreezing) through an advanced shift (Moving), to another fixed state (Refreezing). Unfreezing involves the creation of the right conditions in which change can occur, people create a sense of familiarity with their surroundings and any change no matter how minor will cause resistance (Burnes, 2004). The goal is to move a person to a change ready/unfrozen state. This was accomplished between the Royal Mail and the CWU through the 2010 National Agreement in which both parties, after years of bitter disputes have agreed to improve their relationship for the better of the company, employees and customers (Burnes, 2004; National Agreement, 2010). Burnes (2004) identifies the next stage in Lewins model as Moving, which he describes as being on a journey taking people to the Unfrozen state, old ways are in the past and the new are in the development stage of being implemented, it is here that support should be given to employees to assist with the changes being introduced (Burnes, 2004). The Royal Mail is in the Moving stage of the 2010 National Agreement as they try to implement new modern and efficient changes to the company by way of automation, technology and industrial relationships. This will take time to fully execute, Lewins model states that without reinforcement change is short lived, both sides must begin to agree soon on the changes otherwise relationships will begin to break down once again (Burnes, 2004; National Agreement, 2010). Refreeze is the final step in which the environment is stabilised, its sometimes difficult to separate from moving, many organisations dont fully implement the whole extent of the change as another form of change is usually on the rise. This stage cannot be evaluated as the 2010 National Agreement between the Royal Mail and the CWU is still being implemented at this time (Burnes, 2004; National Agreement, 2010). Types of change Due to outside influences driving change organisations are forced to keep up to speed, if change is required the appropriate changes are implements to reflect these external environmental factors in a timely and smoothly manner so to avoid putting added pressure on the company (Price, 2009). Grundy stated that many managers viewed change as being the same whilst others viewed it as having a negative impact, he identified three types of change as smooth and incremental, bumpy incremental and discontinuous, the Royal Mail uses none of these types (Senior, 2002; Price, 2009). Incremental change Continuous Change Punctuated Equilibrium Burnes (2004) identifies two other type of change as continuous transformation, which identifies the need for regular dramatic adjustments in organisations change like regular training of staff, and punctuated equilibrium, this recognises that change can occur at erratic and explosive periods of time (Senior, 2002; Price, 2009). Punctuated equilibrium is the type of change more associated with the Royal Mail, one outlining factor is the company has not changed in many years but in 2010 reached a groundbreaking agreement with the CWU for implementation for such things as a 6.9% pay rise plus working hours reduced to 39 (Hooley et al, 2008; National Agreement, 2010). Resistance to change in the Royal Mail Resistance doesnt necessarily surface in standardised ways. Resistance can be overt, implicit, immediate, or deferred. It is easiest for management to deal with resistance with it is overt or immediate. The greater challenge is managing resistance that is implicit or deferred (Robbins, 2001) Burnes (2004) identified resistance to change as the obstacles created by others to stop change; some forces will be more resistant than others such as the actions taken when people feel change to be a threatening factor, such as the modernisations planned by the Royal Mail, this has received huge resistance from employees and their union through planned strikes throughout the last two years, as they perceived the modernisation process would reduce staff numbers. The report identifies four main forces against the change process at the Royal Mail: Union resistance: The CWU also known as the Communications Workers Union is the largest union for the communications industry in the UK; it has 250,000 members most of which are Royal Mail employees, and was formed in 1995 (CWU, 2010). The sheer size of union makes it a very powerful force to be reckoned with, its also well documented throughout the years that the CWU and management at Royal Mail have very different views on what is best for the company, resulting in strikes against the modernised plan proposed by the Royal Mail, this was because the CWU felt its members were at risk from new technological advancements that they felt would result in staff numbers being reduced (Hooper et al, 2008). This could also be a result of the CWU using this tactic as a means of living up to a unions reputation with Warner (2009) adding that the chronic union militancy that once characterised shipbuilding, steel, car making and coal industries lives on in Royal Mail. Management and employee relations is poor: There is a long history of poor industrial relations between the Royal Mail management and CWU which continues to this day, this has impacted severely on the company to the extent that it has prevented the Royal Mail from modernising and expanding which has led to a high level of inefficiency (Hooper et al, 2008). However, with the introduction of the Business Transformation 2010 and beyond agreement Both parties agree that central to success is the need to fundamentally transform relationships and quickly build a culture of mutual interest between managers, union and employees. Reluctance in staff to use new technology: Staff in the Royal Mail believes that through the use of new technology certain position within the company will become redundant, and due to advice from the CWU they have refused to use this modern machinery which would aid in the efficiency of the Royal Mail (Hooper et al, 2008). Employees disliking the modernisation plan: Adam Crozier who was the chief executive of Royal Mail from 2003 to 2010 is quoted as saying: Change is difficult for everyone, but Royal Mail has no alternative but to change and modernise if it is to compete in todays highly competitive communications market. This is against the wave of criticism from employees and unions against the proposed modernisation plan due to uncertainty felt for their position (Thomas, 2009). Management at Royal Mail have declared that the plan is already seeing results with operating profits up  £7 million in 2009 compared to the year previous, however employees and the CWU have stated that they believe they deserve to be rewarded for the success they have brought to this change process, which has delivered a 4% increase in half-year profits. A pay freeze is no way to thank staff who have seen colleagues leave and workloads rise (Thomas, 2009). This pay freeze was proposed due to the recession in a bid to counter its affects; it only resulted in already strained industrial relations becoming more intense (Prince, 2009). A gradual introduction of more work due to reduced staff numbers would have been a better plan when engaging with staff. Kurt Lewins 5 Force Field Analyses This analysis by Lewin was developed in the 1960s, its based on the assumption that when the need for change arises there will be forces for and against change; the theory states that when two forces are equal change can only happen if the force for change is strengthened and the force against change weakened (Senior and Fleming, 2006). The forces for and against change within the Royal Mail Group are listed below: Driving Forces: Restraining forces: Universal service Pricing Pension deficit Improved efficiency Working practices New technology Competition Transportation net working costs Modernisation process Union resistance Management and employee relations is poor Reluctance in staff to use new technology Employees disliking the modernisation plan The restraining force of staff reluctance to use new technology is in direct contrast to the driving force of new technology, the driving force of new technology can only be accomplished if the restraining force to use new technology is weakened. This was accomplished with the introduction of the Business Transformation 2010 and Beyond agreement which states, Royal Mails investment in new equipment and technology is a fundamental part of transforming the operation, this was accomplished by introducing new ways of working, including workload measurement, compliance to standard, engineering team coach, maintenance of equipment outside of the mail centre and technical operators (National Agreement, 2010). A new development plan for training and professional development plus apprenticeships in line with standards applying to Engineers based at HWDC. This was agreed by CWU which meant the restraining force was weakened so the driving force for new technology was strengthened and is in the process of being implemented (National Agreement, 2010). Kotters Eight-Step Plan Burnes (2004) identified that in order for change to be successful all of the eight stages in Kotters plan must be completed in sequence, any deviation from these steps will result in problems for the organisation. The Royal Mail did manage to achieve some steps but many more have still to come as the company finally embraces modernisation. Step 1 Create urgency: May 1997, deciding that modernisation was required, March 2010, finally implementing it. Step 2 Form coalition: Management and unions agreeing to work on a modernisation plan. Step 3 Create new visions discussions on the Business Transformation 2010. Step 4 Communicate the vision (Unfreezing): Introduction of the Business Transformation 2010. Step 5 Empower others Step 6 Reward wins (Movement) Step 7 Consolidate improvements Step 8 Reinforce the change (Refreezing) Effectiveness of the Planned change in the Royal Mail With the introduction of the Business Transformation 2010 it gives hope to the belief that harmony has finally been reached between the Royal Mail, CWU and employees. Adam Crozier, commented: This agreement is good for the business as it allows Royal Mail to get on with its modernisation, its a good and fair deal for our people, and its a good deal for our customers as it ensures stability over the next three years (ICM, 2010). The main points of the agreement will be the introduction of a 39 hour working week, 6.9% pay rise, more job security for employees, CWU to be involved in all change matters going-forward, and the Royal Mail to remain a 75% full-time industry (CWU, 2010). These changes have been agreed on the basis that employees will embrace the Royal Mails  £2 billion modernisation plan which includes the introduction of new automated machinery and delivery equipment (ICM, 2010). Dave Ward, CWU Deputy General Secretary, said: Its been a long time coming, but this deal delivers on the major issues which postal workers have fought for. Theres a balance of pay and operational changes which will help offset job losses and ensure our members are fairly rewarded for change. Both sides seem to be in agreement for the first time is years that modernisation is the way forward for the Royal Mail, but has this planned change been implemented too late, will the refusal of employees to let modernisation be implemented sooner be the downfall of the Royal Mail, rival companies such as Deutsche Post and TNT have still managed to make substantial profits even with the added downturn in the postal market due to the recession and the explosion of the digital era (BERR, 2009). There is also the added concern of the pension deficit which stands at  £4 billion, one of the largest in the UK, which the Royal Mail is required to make contribution into every year. It begs the question of how can a company who has such a huge cost output every year make proper investments into the future and still manage to return a profit (BERR, 2009), and will these investment in new technology and automation bring the rewards that Royal Mail believes it will, even with many people moving to digital media (BERR, 2009). Implications of failure The universal postal service is important. The ability to deliver items to all 28 million business and residential addresses in the UK is part of our economic and social glue (Hooper et al, 2008). As agreements listed in the Business Transformation 2010 for the organization have finally been reached, the implication for failure for the Royal Mail would be the loss of the universal postal service. It has been mentioned many times in this report the importance of the UPS to the UK and its people, also the loss of a public service that so many have fought to keep in the public domain, against recommendations made by the Hopper et al (2008) and BERR (2009) reports to part privatise the company. Without modernisation eventually the Royal Mail will decline taking with it masses amounts of tax payers money that was used to keep the company afloat, leaving many unemployed which would be a tragedy for the UK who are still suffering the effects of a world-wide economic recession.

Wednesday, November 13, 2019

The Devestating Effects of Popcorn :: essays research papers

One of the biggest threats to freedom in our world today is the ever-looming possibility that someone will realize the true power of popcorn and bring world leaders to their knees. Popcorn holds a power that to this point has remained untapped. However, if placed in the hands of a terrorist organization, the true power of popcorn could be unleashed to wreak havoc on innocent men, women and children.   Ã‚  Ã‚  Ã‚  Ã‚  Millions of people each year have the luxury of eating popcorn freely. Each night in this country alone, thousands of people flock to movie theaters to enjoy a large tub of popcorn while watching a new movie. Month after month the movies on the screen continue to change, following and sometimes affecting world trends, beliefs and styles. Through it all, the popcorn remains the same. It continues to draw the movie patrons back to the theater with the bitter taste of salt mixed with a golden layer of liquid butter. Already, many around the globe have been blindly enslaved to the irresistible experience of leisurely consuming a tub of popcorn while tucked within the dark confines of a crowded picture show.   Ã‚  Ã‚  Ã‚  Ã‚  Large snack corporations have manufactured their own plans to cash in on the subconscious popcorn craze that is sweeping the globe. They perpetuate the popcorn security risk by delivering taste variations. With a light dusting of cheddar cheese or a quick dip into a caramel pool the popcorn is transformed, bringing new tastes to life that now fill the isles at every grocery store. In doing so, a whole new generation of popcorn lovers are captured who couldn’t possibly know the grave position they are placing themselves in.   Ã‚  Ã‚  Ã‚  Ã‚  And proving that every movement has a following determined to do things their own way, some have taken to popping their own popcorn in the comfort of their homes. These renegades have tried to free themselves from a herd mentality by refusing to follow the crowd to a central location to partake in their favorite snack. They have still unknowingly resigned themselves to the same fate by falling under popcorn’s powerful spell.   Ã‚  Ã‚  Ã‚  Ã‚  A terrorist organization armed with this knowledge could potentially seize control of the world’s supply of popcorn and do so without much trouble. Our world leaders are unaware or choose to ignore this threat, and refuse to protect the supply lines of popcorn with the world’s finest armies.

Monday, November 11, 2019

Compare of Pizza Hut and Domino’s Pizza Essay

In the land of tandoori rotis and masala dosas, does Italian food have any place? Yes, says the statistics. The pizza industry is really sizzling with hectic activity. The 150 Cr industry growing at an annual rate of 50% is expanding at a frantic pace. Organized food service is characterized by a chain of outlets using a uniform brand identity across all outlets, centralized procurement of supplies, focus on quality, standardization and safety from supplier’s uniformity in product menus across outlets, uniform taste, existence of strong controls and the use of technology. Indian taste buds are demanding more and pizza industry – one of the most intensive industry is all gearing on. People across the country are consuming over three million pizzas a month currently, and the monthly sales figures are projected to double in the next four years. According to industry data, of the total branded quick service restaurant market of over Rs 1,200 crore, the pizza chains contribute around 50 per cent of the sales. Indian perception:- Food diversity in India is implicit characteristic of India’s diversified culture consisting of different regions & states within. Traditionally Indian like to have home cooked meals – a concept supported religiously as well as individual. However with time due to increase awareness and influence of western culture. There is a shift in food consumption patterns among urban Indian families. Social economic change attitude of middlemen. It started eating out and moved to accepting a wide variety of delicacies from world over. Consequently post 1990’s saw many international food chains entering into the country. Liberalization of Indian economy in early 1990 and subsequent entry of new players set a significant change in lifestyle and food taste of Indian. Pizza as a food item as a gained acceptance of Indian palate after multinationals fast food players†¦

Friday, November 8, 2019

How To Schedule Your WordPress Blogging Workflow

How To Schedule Your WordPress Blogging Workflow When you decide you want to take your blog seriously, youll begin to consider your WordPress blogging workflow. Whats a WordPress blogging workflow? Its the process that takes you from start to finish for each of your blog posts, the way you make it happen.  Perhaps things have changed from when you started to blog, and its not enough to dash off a post when inspiration strikes. Now youre considering other things, such as readers and traffic and page rank and building a platform. Understanding The WordPress Blogging Workflow Any blog, no matter if it is a solo blog, team blog, or agency blog for a client, has a similar WordPress  blogging workflow foundation. Each step leads on to the next as you build your post up from bare idea to completed content. With great ideas comes great responsibility. Make sure you have a place to save them. #BloggingTips1. Organize Your Blogging Ideas With great ideas comes great responsibility.  Idea generation, storage, and access are the foundation of your blog posts, but it is also the step most bloggers struggle with. Its not that they have a shortage of ideas, necessarily, but they need a way to manage them. Your system for organizing your ideas must account for: Jotting your ideas down. Will you use a mobile app that syncs with a service you can access back on your laptop? Or, will you rely on a blogging notebook, perhaps? Catalog your ideas. You will need to find a way to organize your ideas so you can find them again should you need them or want to add new research to them. Even the best search function cant always account for everything, and it certainly doesnt beat out how you already think about the categories of content on your blog. Churning ideas up. Create a system where you regularly dive into old ideas to find those you want to use, and delete those that are no longer applicable or that you dont want to cover. Without this kind of system, your ideas quickly bloat and overwhelm and its hard to know where to start or even know what you have to work with. A key to great idea management is to use a tool youre already using and familiar with, thats already part of other workflows or your daily life, perhaps–anything you dont have to rely on forming a new habit around. Because we work heavily in WordPress, we make apt use of s organizational abilities that connect directly with WordPress. We make selections based on category, and, because it is on a calendar, we get a birds-eye-view of whats coming so that ideas dont drop to the bottom and are forgotten. Do you have a system that churns your ideas up? Or are your best blog ideas forgotten in the pile?2. Schedule Your Ideas On The Calendar People schedule at different points in the blogging workflow process. Some prefer to not put mere work-in-progress ideas on the calendar, but instead wait until they are completed posts. We put the ideas on the calendar before we move forward for this blog, and I do the same for my own blogs. When you put the scheduling of posts into place at this point in the process, the date becomes the determining factor. All the rest of the following activities are centered around the date the post will be published. Scheduling now means you are choosing the best time for the post based on the idea and how it fits into the editorial calendar content. This is the method we use here when we schedule blog posts. We simply drag our ideas around on the calendar, automatically syncing the changes in WordPress as we do so. 3. Collaboration And Communication Solo bloggers are probably not used to this step as they perfect their WordPress blogging workflow, since they are writing completely on their own.  But a team?  For the want of collaboration, the blog was lost. Some of the ever-important things youll want to communicate and collaborate on in your WordPress blogging workflow is: Who is writing the post? When is the post due? Is someone creating the graphics or finding an image? What do the rest of you think about my post? Should I make changes? Are these the most recent updates to the post? (Especially important when writers arent working in WordPress) Who is finalizing the post? Unless your team of writers is functioning as a collection of solo bloggers with no style guides, no oversight, no uniform message, and as a general free-for-all, you will need a way to collaborate.  has collaboration built-in for each synced blog post that combines back-and-forth conversation with assigned and dated tasks; this is the system I use for all of my blogs, both at work and personal. 4. Review And Edit Your Post The reviewing and editing process is what takes the raw material and polishes it up. Your WordPress blogging workflow will want to include this in the timeline. It includes review and critique within the team, and client review if youre an agency. For our team, the process looks like this: Content planning meeting for the next two weeks of content. Write the posts youre supposed to write. Assign a team member the task of reviewing it. The team member reviews the post based on topic and content (not typos and grammar), and offers suggestions. The writer reworks the post as needed. The editor then proofs the post for typos and grammar before publishing. We rely heavily on peer review here, and use to do it. Each blog posts gets a running commentary on headline suggestions, keyword ideas, changes to the content of the post, and image suggestions.

Wednesday, November 6, 2019

Is medical coding the career for you

Is medical coding the career for you Are you on the hunt for a new career in a growing industry? If so, then consider medical coding. This rewarding field can offer a wide variety of potential opportunities for employment and can be a satisfying profession for those with the right skills, mindset, and aptitude. Plus, it’s a career on the rise- according to the Bureau of Labor Statistics, it’s slated to grow faster than average through the next eight years. Let’s learn more about what it’s like to be a medical coder and how you can get started.According to the AAPC website, â€Å"Medical coding is the transformation of healthcare diagnosis, procedures, medical services, and equipment into universal medical alphanumeric codes. The diagnoses and procedure codes are taken from medical record documentation, such as transcription of physician’s notes, laboratory and radiologic results, etc.†Basically, medical coders oversee all the codes that are used during the often-complex medical billing process. This is no simple task: qualified coders should have a thorough knowledge of anatomy and medical terminology and be familiar with several different coding systems (including CPT ®, HCPCS Level II, and ICD-10-CM). On top of that, coders should know which codes are accepted by which insurance plans and how to be compliant while coding.The first steps toward becoming a medical coder include ensuring that you meet the educational requirements to secure a position in the field, which can vary depending on the field, discipline, and work environment you choose to pursue.According to the AAPC, the medical coding professionals should obtain the Certified Professional Coder (CPC ®) credential. While earning a bachelor’s degree or master’s degree can strengthen a medical coder’s career, it’s not a set requirement. What is necessary is to have a solid foundation of anatomy, physiology, and medical terminology, which you will learn and master thr ough earning the CPC ® credential. â€Å"It’s recommended for serious coders to complete a medical coding course of study and pass an exam to designate him or her as a CPC ®. Employers know CPCs ® are individuals who can perform medical coding tasks with the utmost proficiency and excellence,† according to the official site.So, what would a typical day as a medical coder look like? You’d likely be working in the billing office in a focused healthcare setting, which can range from a hospital to a therapeutic or treatment center, doctor’s office, outpatient facility, nursing home, or similar facility, and will be coding patient files- an essential task in the field- to ensure appropriate and accurate billing. In sum, your coding will help document each patient’s treatment process from beginning to end, in an effort to secure reimbursement for all services rendered during each visit.Still interested in pursuing a career as a medical coder? If so , then consider the helpful information provided here as your launching pad to help you plan your first steps on this exciting career journey. You can build on this information with the wealth of resources and information available online, and before long you’ll be well on your way to achieving your goal.

Monday, November 4, 2019

The Experience in the Educational Counseling Preparation Program Research Proposal

The Experience in the Educational Counseling Preparation Program - Research Proposal Example Actually, the latter has been extremely interesting and useful for me, since I have learned a great many new and extremely effective data from various subject areas within the material of the program. Besides, I have had a great opportunity to learned certain mechanisms and schemes in their action while practicing. Frankly speaking, knowledge from any branch of learning is beneficial for me as a future professional, but still, my personal feeling is that psychology has the greatest power for educational counseling. In fact, this science has conquered my mind due to its specific approaches, laws, and tools able to assist people in a very active way. This understanding has penetrated into my conscious to the extent that my plans for the future work as an educational counselor are prevailed with intentions to be guided by psychology as a primary and main principle of cooperation with students, their parents and instructors. So, this is my first disposition that has been opened through p articipation in the Educational Counseling Preparation Program. Whereas one compares current me with that person (another me) prior to the program, the difference is impressive. I don’t want to display but the changes are notable. The thing is that I have turned into a personality with a good bundle of knowledge and skills from a person with poor experience even in communication with other people. Definitely, I can’t say that I have been nothing before the program. Naturally, I have had some basics resulted from my educational background. But intensive learning in the Educational Counseling Preparation Program has upgraded my level in a great measure. Furthermore, it has continued the process of my self-improvement. In particular, my experience has aided me in the attainment of self-belief.

Saturday, November 2, 2019

The Scarlet Letter (1995) Movie Review Example | Topics and Well Written Essays - 1500 words

The Scarlet Letter (1995) - Movie Review Example In it, Hawthorne describes the Puritan society and the cultural aspects defining it. In addition, he expounds on the role cultural expectations play in an individual’s life by focusing on the character Hester Prynne. Hester was a young married woman who had an affair with a local Rev. Dimmesdale when she feared her husband dead, which resulted in the birth of a child, Pearl. On her re-entry into society with her child in her arms, other society members met her with looks of disapproval. Her refusal to name her adulterous partner resulted in her future humiliation. The novel revolves around Hester’s life and her path to self-discovery after condemnation and ex-communication from the society. She strived to exhale, provide a life for her daughter and reclaim her dignity (Hawthorne 40). The Puritan society, a sect that emerged from the Protestant Christians advocated for its members to live a pure life free from sin. They shunned secular practices in their society; for example, adultery, stealing among other secular practices. However, they did not stress on some practices highly regarded by Protestant Christians; for example, mandatory attendance of church regularly. The Puritan culture defines people’s identity setting expectations for them. These expectations provide guidance on how people handle the prevailing societal issues. Hawthorne defines the Puritan society as a patriarchal society. Meaning, this society valued men more than it valued women. The society’s view of women was, therefore, discriminatory in nature especially because it ascribed two basic roles to them. They include; role of a mother and role of a wife. When playing the role of a mother, women cared for their children, nurturing them while socializing them to the Puritan culture. Moreover, when playing the role of a wife, the society expected women to remain submissive and faithful to their husbands. Societal values also expected them to procreate; providing heirs for their husbands. These heirs ensured the continuation of their family legacy. These two roles defined the society’s expectations of women and guided their behavior. Women were to remain silent unless the society needed them to speak. The irony in this is baffling (Hawthorne 70). Just like modern, contemporary, real societies, societal expectation