The Effects of Childhood Trauma Impacts

Abstract A common theme Northern Ohio Recovery Association have identified is how inappropriate behavior affects children systems education, mental health, child welfare, juvenile justice, and substance abuse. Trauma, the experience of an event by a person that is emotionally painful or distressful which often results in lasting mental and physical effects. This research proposal will attempt to measure how many youth’s at Northern Ohio Recovery Association Positive Action Program, have had effects of childhood traumatic maltreatment and how it impacts delinquent behaviors.The data collection is from SoQuic assessment tool. It will be completed at Northern Ohio Recovery Association facility. The outcome of this proposal will suggest that the youth entering the agency had some form of childhood traumatic maltreatment that caused delinquent behaviors. The number of participants will be according to the Facilitator Administration decision during the six-month treatment time perio d. Statement of the Problem Children exposed to traumatic maltreatment increases delinquent behavior.According to the U. S. Department of Justice the rate of youth involvement in the juvenile system in the United States has increase and continues to grow. However, it shows that youth in the rural communities are experiencing identical delinquent crimes as urban youth (U. S. Department of Justice, 1965-1992). The widespread and nature of crimes that is being committed by our youth are very important issues that needs behavioral modification treatment.Issues of juvenile delinquent offenders could connect to childhood traumatic maltreatment. This social problem has affected the value of life in our society, economical system, educational system, and social structure. This study examines issues in method, focus and how childhood traumatic maltreatment can lead to juvenile delinquency. The societal problems of sex offending behavior, youth attitudes towards violence crime, mental health issues, cost of imprisonment and the cost of boarding children from the child welfare system.These societal problems will indeed boost the crime rate, health cost, housing, and homelessness, which in turn will have the taxpayers, pay an additional cost for the reentry of these juveniles. There are so many youth who have been effected by trauma the significance and purpose of the study is rebuilding intervention program and focusing on the needs of youth. Literature Review According to DSM-V conduct disorder is a behavioral and emotional disorder of childhood and adolescence. Children with conduct disorder act inappropriately, infringe on the rights of others, and violate the behavioral expectations of others.One of the most effective courses of treatment for teenagers at NORA is behavior modification programs. They are designed to help the youth be able to make better choices. Dembo, Richard; Winters, Ken; Belenko, Steven; Gulledge, Laura (2007) looked at Truant youths represent an important target group for addressing drug use and related problems, and lowering risk for moving into the juvenile justice system. We are implementing and evaluating a brief intervention (BI) for truant youths brought to a Tampa, FL Truancy Center by law enforcement.We plan to enroll 300 official non-delinquent and minor delinquent truants and their parents in this NIDA funded Stage 2 clinical trial. The BI is grounded in Rational-Emotive Therapy and Behavior Problem Solving Therapy. Three groups will be compared: (1) a 2-session youth only condition (BI-Y), (2) a 2-session youth and 1-session parent condition (BI-YP), and (3) a standard truancy services (STS) condition. The impact of these service conditions on drug use and related behaviors (e. g. , delinquent behavior) will be assessed up to 18 months, involving five data collection points.We hypothesize that both the BI-Y and BI-YP conditions will reveal significant intervention effects compared to the STS group, and that BI-YP participants will reveal greater treatment effects compared to BI-Y, based on the expectation that enhanced parenting will favorably impact intervention effects. We report on the design, implementation and some preliminary results from this study. Schram, Pamela J. ; Gaines, Larry K (2007) examined Most research indicates that males comprise the greatest proportion of gang members. Since the 1990s, however, there has been an increasing interest in female gangs and gang members.The current study builds on this research interest by examining differences between female gang members and non-gang members who participated in a juvenile probation program designed to identify and intervene with youth considered to be high risk for subsequent criminal and delinquent activity. The results of a logistic regression analysis revealed that two factors significantly influenced a female offender's likelihood of being rearrested: she did not complete the program, and she did not live with her natur al parent(s).We conclude that the significant results do support findings from previous research in this area; we also discuss possible explanations as to why other factors were not significantly related to rear rests. In an identical review Greenwood, Peter (2007) explains how Evidence-Based Practice (EBP) involves the use of scientific data to guide intervention designs and decisions. A number of approaches to (EBP) for delinquent and dependent youth are being tested and marketed. All are facing varying degrees of difficulty with issues such as program transfer, model fidelity, funding, certification, and growth.This presentation will draw on the experiences of some of the leading private providers and program developers who have been dealing with these issues for a number of years. Salvatore, Christopher; Hiller, Matthew; Samuelson, Benta; White, Elise (2007) examined Although the first juvenile drug court was established over a decade ago, compared to adult drug courts, relative ly little research has been published on these programs and many question whether this intervention for drug-involved youth is a useful addition to the juvenile justice system.Recently, however, findings from a randomized study showed that a juvenile drug court (including modifications for including Multisystem Theory and Contingency Management) reduced the during-program delinquent behavior compared to youth in traditional family court. These findings suggest that it is important to develop a fuller understanding of the program impact theory and services delivery model of extant juvenile drug court programs (particularly as components of on-going evaluation activities.The current paper presents findings from a year-long process evaluation of a large juvenile treatment court serving inner city youth on the East Coast. Qualitative and quantitative data were collected through participant observation, in-depth surveys, and focus groups to describe the theory behind the implementation o f the program as well as the logical sequencing of specific types of services for helping youth to achieve both short-term and long-term goals, including remaining free from new adjudications, reducing and eliminating the use of illicit drugs, increase performance in school, and for becoming â€Å"productive† members of society.A logic model of the program linking characteristics of the target population to services and subsequent outcomes will be discussed as well as initial findings regarding participant compliance in the program. Research Question/ Hypothesis The hypothesis the effects of childhood trauma impacts juvenile delinquent is supported by research findings. (1) do the effects of childhood traumatic maltreatment impacts youth becoming delinquent?Using quantitative methods using the agency SoQuic assessment tool by the direct service management team to provide accurate information about the Bio-psychosocial history of the children engage in the program. 1. Dependen t Variable= Impacts juvenile delinquent 2. Independent Variables= Effects of childhood traumatic maltreatment The relationship between these two variables suggests that the independent variable is a cause of the dependent variable. Therefore, effects of childhood traumatic maltreatment are reason for increase juvenile delinquent. B.Our hypothesis we believe is true based on the literature concerning the effects of childhood traumatic maltreatment impacts juvenile delinquent because children who have been expose to maltreatment tends to engage in juvenile delinquent behaviors. C. The Null hypothesis is: The effects of childhood traumatic maltreatment have no difference on juvenile delinquent Research Design The type of design we will use to test our hypothesis is the classic experimental design. We chose this type of design because we already know the relationship between the variables.However, we wanted to find out if this relationship could show a cause in the impacts of juvenile d elinquency. We will have two groups of thirty youths’ who have engaged in delinquent behaviors. One of these groups will receive positive action (e. g. behavioral modification) intervention group and individual therapy related to delinquent behaviors and the other will not. The therapy will provide counseling on the following areas: degree of youth’s behaviors that evokes conflicts, behavior response expectations, and supportive services provided.The experimental group will receive this therapy for six months. Pretreatment therapy will be provided to engage, observe, and measure patterns of social norms with respect to parental authority. Counselors will be on hand to assist. Discharge process will take place after the six months is up the youths will be individually interviewed about the behavioral modification intervention in the previously mentioned areas once more. The study we are going to conduct also has some strength.Since we randomly select sample into two gro ups of youths, we are assured of being able to generalize our findings from the sample to the population. Due to the fact that our study is experimental, this means that our design is more rigorous and is more controlling for some internal validity concerns. In addition, the design controls for all of the internal validity concerns except for testing effects because we will only measure the change in the experimental and control group once rather than repeatedly. SamplingThe study population is the effects of childhood traumatic maltreatment impacts juvenile delinquent. We will use stratified random sampling in our experiment. We will have sixty youths in our sample and split them into two groups. Each of the groups will have as follows: presenting problems, living situation, social history information, education history, mental health treatment history, current medication information, past psychotropic medications, alcohol/drug history, alcohol/drug treatment history, legal history , abuse history, problem check list including functional domains, and suicidal history.Measurement Operational of the variables shows delinquent youth in this study will be measured by SoQuic assessment tool upon intake at the facility. We are concerned with test-retest reliability since we will be asking self reporting questions for both of the interviews. We will still need to be concerned with interobserver reliability if there is a difference between the different interviewers. Our experiment has face validity due to the fact that our reliable measures make

Harry Frankfurt

Harry Frankfurt defined the principle of alternate possibilities ( PAP ): A person is morally responsible for his actions if he couldn t have done otherwise . And he argued as follows 1) ( PAP) is true 2) determinism : every event must be the way it is and we couldn t do otherwise is also true Conclusion: ( PAP ) and determinism are not compatible This argument is a valid argument but it is not a sound one because the author doesnot agree with the conclusion of the argument and since it is a valid argument so he decides that one of the premises is false and doubts the first premise . By giving us an example he will try to convince us that the (PAP) is false . He states that Jones does action (A) and that Black is some kind of manipulator that has the ability to manipulate Jones so he can inhibit Jones from performing actions other than (A) without Jones knowing that black exists . Black will manipulate only if Jones is going to decide to do otherwise , so we conclude that Jones couldn t have done otherwise because of Black , nevertheless Jones is morally responsible for action (A) because he did all on his own without the interference of Black. This example contradicts with definition of (PAP) . because jones is morally responsible even though he couldn t have done otherwise. Moreover I think it is wise to add an argument here : 1)Jones is morally responsible for his action (A) )Jones couldn t have done otherwise ( in other words his actions are determined ) We conclude that moral responsibility is compatible with determinisim . One thing that I noticed from the example is that black s duty or job is to block or inhibit jones choices of actions other than action (A) . therefore the author admits that there are other choices of actions ( possible alternatives ) than action (A) , so possible alternatives is true but we have to find the right definition and appli cation for it . Words : 356?

An Evaluation of the European Computer Driving Licence Essay Example for Free

An Evaluation of the European Computer Driving Licence Essay The research project includes the complete lifespan of the work from the rationale to the conclusion. I examine the reasons for conducting the research, how the Company might benefit from the experience and how trainers may reflect and add to their toolbox of skills and knowledge. The project also considers the background to the European Computer Driving Licence (ECDL) and how this came to AEGON UK Services, what role Workplace Training Services had to play and what part of strategy ECDL was designed to meet. The main body of the project, the research itself, sets out to consider a range of questions related to the evaluation of ECDL within a financial services setting which I believe is a valuable piece of research that is not presently widely available. The research considers the practical implications of the work and the justifications for following the particular actions undertaken. The conclusion draws the project together and provides answers to the questions considered above. Does ECDL add value within the business, have learners acquired new skills, what of the present learning methods and how might these be designed to suit the needs of future learners? I support my research findings with the results of my data collection exercises together with statistics relating to ECDL including its recent use outside of Europe. Finally, I present the detail of material used whilst working on the project as Reference and Bibliography. AEGON UK Services (UKS) is the ‘closed book’ arm or Third Party Administration (TPA) operation for AEGON UK one of the world’s top ten financial services companies. As a TPA no new business comes into the organisation and particularly in the present economic climate control of costs and expenses becomes paramount. It is not an overstatement to consider that the continuing well being of the UKS site in Lytham rests with its highly competitive nature. When one considers that the average cost of one staff member in Lytham is à ¯Ã‚ ¿Ã‚ ½40,00 pa whilst the equivalent outlay at the AEGON UK Head Office in Edinburgh is almost double at à ¯Ã‚ ¿Ã‚ ½65,000 pa, financial evidence becomes clear particularly with close to 900 staff at the Lytham site. There are many reasons for this divergence in costs, not all of which may be directly influenced by the Company but it is this difference which remains key to the health of the AEGON UK Services operation. It is against this background that the research into the European Computer Driving Licence (ECDL) is set, one of the organisation obtaining maximum value for each pound of spend. As Managing Director, David Barker, said at the 2002 Business Plan launch to staff, ‘Through the professionalism, skill and commitment of its staff AEGON UK Services has a key part to play in the growth and development of the UK operation.’ It is my responsibility, as Training Manager for UKS, to provide learning opportunities, develop staff and upgrade their knowledge and skills to meet the challenges set by the Managing Director and the Board of AEGON UK. After all, a shortage of skills could threaten the livelihood of the operation. Fingold and Soskice (1989:22) who created the notion of a ‘low skills/low quality equilibrium’ argued that ‘†¦ the majority of enterprises staffed by poorly trained managers and workers produce low quality goods and services.’ Their view was that Britain would not be able to keep pace with changing economic conditions. A decade on and still the need for the training and development of our staff in relation to the growth of our business remains. As David Blunkett, Secretary of State for Education Employment, sets out the challenge ahead for us all when speaking at the National Training Awards ceremony in December 2000. ‘The key message today is that there is a real economic need for people to upgrade skills throughout life. We need to help everyone fulfil their potential and respond to the changing world economy.’ (People Management, Vol 6, No 25). The task facing us in the UKS Training team is to meet the Secretary of State’s challenge and drive the business forward at the same time whilst maintaining a tight rein on expenditure. In the summer of 2001 our Union Representative introduced me to Workplace Training Services and this partnership with a local education provider soon bore fruit. A key strategic challenge for AEGON UK in 2002 was the introduction of a Common Operating Environment (COE) between its various UK operations; the most visible aspect of the COE would be the launch of Microsoft Office 2000 in the various sites. Significantly, as AEGON UK Services previously used Microsoft there were no plans to create a formal training plan for the business, rather than relying our awareness of existing applications. The Manager, Dedicated Delivery, of Workplace Training Services (an arm of Preston College), Cyril Wheat, offered the use of the European Computer Driving Licence (ECDL) as part of our solution to the need for staff learning and development in Office 2000. The seven-module ECDL programme is based upon the Microsoft Office 2000 applications and included learning on our key workplace needs, Word, PowerPoint and Excel. Over 50 staff started the ECDL qualification in September 2001 and to-date over 150 have either achieved the award or are working towards it. Further developments of our work with the College have been the provision of additional learning and development for staff, in particular the provision of Learndirect facilities and the healthy ‘learning partnership’ that has grown between an employer, union and education institution. To support the development of this significant partnership Workplace Training Services offered AEGON UK Services 100 free places on the ECDL programme in 2002. Although we have seen a large number of staff following the ECDL programme, myself included, AEGON UK Services has never conducted any formal evaluation of the learning programme. Whilst I have learned new skills and am able to access more difficult applications, has the Company benefited from the ECDL partnership, have the staff developed new skills and how might the programme best be carried forward? This is the rationale for the following research which is designed for the benefit, primarily, of the Company but also for the staff, College and as a valid piece of research. Congratulations Sara Lundstedt! But why is this the Swedish environmental co-ordinator so significant to the history of the European Computer Driving Licence (ECDL). Well, Sara became the one millionth student to complete the programme, as reported in the June 2001 edition of IT Training (P7). What is ECDL and where did it come from? In 1994 the concept originated in Finland where the Finnish Information Process Association introduced the Computer Driving Licence. Shortly after, the Council of European Professional Informatics Societies (CEPIS) established the User Skills Task Force in 1995. The Task Force, supported by funding from the European Commission, was to examine how to raise IT skill levels in European industry. The Task Force identified the potential of the Finnish Licence and investigated the feasibility of adopting it and making it into a qualification for the whole of Europe. CEPIS actively encourages IT literacy and promotes acceptance of professional standards for ICT professionals throughout Europe. Pilot tests were carried out during 1995 and early 1996 resulting in the launch of the European Computer Driving Licence (ECDL) in August 1996, initially in Sweden and then throughout Europe. The ECDL Foundation was formed in 1997 to administer the ECDL programme on a not-for-profit basis and to promote, develop and certify computer skills and IT knowledge. According to its official website, the business of the ECDL Foundation is ‘To disseminate, promote and evolve ECDL as a globally accepted IT skills certification programme that prepares all people for participation in the Information Society.’ On the surface, this has been successful; in 1999 the International Computer Driving Licence (ICDL) was created as the standard qualification for non-European countries. The syllabus is identical to that of ECDL and was initially taken up by Australia, Canada, South Africa and Zimbabwe. Since then, more countries have joined the ICDL programme, ranging from Greece in 2000 to most recently, Malaysia. According to The Electric Paper Company Limited (http://www.electricpaper.ie/products/ecdl.asp) ‘†¦to-date, over 1.75 million people are registered on an ECDL/ICDL programme. This number is growing daily. There are tens of thousands of accredited test centres worldwide enabling people to take their tests an attain certificates.’ So, seven module appears to be working as students are assessed against the following competencies: basic concepts of IT, using a computer and managing files, word processing, spreadsheets, databases, presentation and information and communication. The ECDL Foundation points out that the programme is now used in over 60 countries and IT Training announced in its October 2002 edition that ‘†¦the number of students †¦ enrolled topped the half-million mark. The British Computer Society (BCS) also reports that it is issuing 1,000 ECDL certificates every day.’ One of the first organisations in the public sector to move towards qualifying the computer skills of its staff is the NHS which recognised the increasing role that computer skills had to play in the public health sector. The significance of the ECDL decision is reflected in the fact that it was announced by Health Secretary, Lord Hunt. He said, ‘New technology investments to support staff to plan, deliver and review health care will not be successful unless more priority is given to ensuring that all staff have a basic level of IT skills.’ There is a great deal of published support for the ECDL programme and I have included highlights from two successful ventures. The House of Commons became the first Parliament in the world to offer staff training in IT skills, aimed at MP’s assistants and constituency workers. Dr. Matthew Donaghy, Industry and Parliament Trust ADAPT Project Manager, said, â€Å"Our objective, and indeed an important part of securing funding for the project, was to increase the employability of staff outside the Parliamentary sector. ECDL gives staff an extra qualification showing their competence with IT in the office, but also allows flexibility in training for the qualification so that it does not interfere with major projects they may be working on.† Donaghy continued, â€Å"An extra benefit of the course has been the increased level of teamwork between MP’s assistants. Staff are increasingly sharing tips on office practices, which will mean a more professional MPs service al l round.† The Bank of England is also enabling its staff to take the ECDL programme via personal or on-line training. Bank Deputy Governor, Mervyn King, who has successfully completed the qualification said, ‘Across the Bank, the ECDL will enable people to achieve a wide range of essential skills in IT, on which they can build in the future. I am convinced that it is an ideal way for my colleagues to improve and consolidate their knowledge, to build confidence and to improve both productivity and decision making.† ECDL appears therefore to have positive support, endorsed by Peter Bayley, Director of ECDL at the British Computer Society, who confirms that, ‘Since the UK launch there has been a growing demand for information about ECDL users from both the Further Education and Corporate sectors in order to measure profiles, motivation, satisfaction and likely interest in our newly launched ECDL Advanced qualification. Apart from a gratifying 95 per cent satisfaction rating, almost two thirds of those polled chose ECDL because of its broad recognition as a computer skills qualification. In addition, 97% said they would recommend ECDL to family, friends and colleagues and 87% were interested in an ECDL Advanced qualification.’ Despite the fact that there is a great deal of published evidential support for ECDL, there remains little evidence within AEGON UK Services that the programme has been and remains successful. To date, we have tended to take the view that people pass, therefore it works! But does it? As Reay (1994:23) points out, ‘†¦evaluation can enable you to do better in the future. This is not to say that you’ve been failing in the past; but good trainers realize there is always room for improvement.’ It is against this background, of a developing IT culture within Europe and latterly the rest of the world, that the research with AEGON UK Services is set. Will the experiences outlined above be matched within the Company? ‘Most people associate the word ‘research’ with activities which are substantially removed from day-to-day life and which are pursued by outstandingly gifted persons with an unusual level of commitment’, suggested Howard and Sharp (1983:6). However, Denscombe (1998:1) takes an alternative approach when opening his piece of work some 15 years later, ‘Social research is no longer the concern of the small elite of professionals and full-time researchers. It has become the concern of a far greater number of people who are faced with the prospect of undertaking small-scale research projects as part of an academic course or their professional development.’ In my case, the piece of research was to be carried out over a 3 month period by the Training Manager of a large organisation with very ordinary skills and an extremely heavy workload! Payton (1979:4) identified research as ‘†¦the process of looking for a specific answer in an organised objective reliable way’ and it is this search for answers that has driven me to tackle the challenge of evaluating the European Computer Driving Licence (ECDL) in AEGON UK Services. Considering what questions to ask, Black suggests (1993:24/25), may prove a significant challenge in itself, ‘The most difficult part of starting a research project is often that of identifying the best question to ask, one that is meaningful, whose answer contributes to the discipline, and whose resulting research can be carried out within the resources available.’ When considering the questions to answer from the piece of research I was conscious of two things set down by Managing Director, David Barker: a) what would add value to the business supporting AEGON UK Services as a key part of the AEGON UK operation and b) provide learning opportunities to develop staff and up grade their knowledge and skills? These factors contributed directly to my questions: How has ECDL added value in AEGON UK Services? How have the learners acquired new skills to help them do their jobs? Has the method of learning for ECDL proved effective? What is the most effective way for any further learners to acquire the knowledge and skills necessary to achieve ECDL? Blaxter et al (1997:58) identified 2 different methods for designing and doing a research project, their ‘research families’ of qualitative and quantitative methods. To Burns (2000:3), the quantitative approach is viewed as ‘scientific’ and in his opinion, ‘†¦has been the conventional approach to research in all areas of investigation. The methods and purposes of scientific inquiry have been moulded by countless generations of scientists †¦Ã¢â‚¬â„¢ Burns (2000:9) outlines the strength of the quantitative approach as being its ‘†¦precision and control’, together with ‘†¦a deductive approach and the use of quantitative data (which) permits statistical analysis.’ Denscombe (1998:177) supports Burns’ standpoint by adding that, ‘The use of quantitative data in social research has its attractions. For one thing, it carries with it an aura of scientific respectability. Because it uses numbers and can present findings in the form of graphs and tables, it conveys a sense of solid, objective research.’ However, an alternative view also exists and caution is stressed by Silverman (2000:6) when pointing out that ‘ †¦the hard data on social structures which quantitative researchers claim to provide can turn out to be a mirage.’ Caution was necessary for me when considering the effect of ECDL upon an individual’s ability to do their job more effectively, as Cicourel (1964) points to defects with quantitative research, it may be useful but it also may conceal as well as reveal social processes. On the other hand, qualitative research is an umbrella term that covers a variety of styles of social research, drawing on a variety of disciplines. Tesch (1990) identified 26 distinct kinds of social research which can fall under the term ‘qualitative’ and no doubt, in time, that list will grow. However, Denscombe (1998:207) does see some common elements which begin to give some sense, as he sees it, to qualitative research, ‘†¦a concern with meanings and the way people understand things†¦Ã¢â‚¬â„¢ and ‘†¦a concern with patterns of behaviour†¦.’ Cohen and Mannion (1998:8) go a stage further and view qualitative research as a search for understanding in which ‘†¦the principal concern is with †¦ the way in which the individual creates, modifies and interprets the world in which he or she finds himself or herself.’ Researchers who adopted this qualitative approach, responsive to individual perceptions, were felt by Bell (1999:7) to ‘†¦seek insights rather than statistical analysis.’ A positive aspect of qualitative research, according to Miles and Huberman (1984:10), is ‘†¦that they focus on naturally occurring, ordinary events in natural settings, so that we have a strong handle on what ‘real life’ is like.’ The approach to this research project was on a qualitative basis and whilst there is a range of disadvantages to this method, including, as identified by Anderson (1990) – the ability to collect a large number of replies, allow for easy collation and cheap and readily available, Anderson did identify advantages with a qualitative approach. Significantly, when gathering data and information Anderson held that a qualitative approach enables the researcher to really understand another person, and qualitative research tends to focus on learners, central to the research project, and their views of the world. My own research project mirrors a number of Anderson’s findings; focusing on the learners and managers and thei r views, attitudes and feelings is key to my work and as such does not lend itself naturally to a quantitative or scientific basis. However, in Denscombe’s opinion (1998: 173), the two approaches are not mutually exclusive, the distinction between the two is over-simplified and relates to the treatment of the data. As Strauss (1987: 2) argues, ‘†¦the genuinely useful distinction is in how data are treated analytically.’ Denscombe’s (1998:173) view then is that ‘†¦a distinction between qualitative and quantitative research is far from watertight.’ To some extent, the research design depends on what Barnes (1992:114) highlights as either a deductive or inductive approach to the project, with action research a key method of the latter. Barnes takes the view that when using action research, ‘†¦the outcomes†¦are generally increased knowledge, understanding and improved practice.’ The implication from this is that action research has a relevance for what I will be undertaking and indeed Blaxter et al (1997:64) confirm this by pointing out that ‘†¦it is well suited to the needs of people conducting research in their own workplaces, and who have a focus on improving aspects of their own and their colleagues’ practices.’ Cohen and Mannion (1998:186) also focus their thoughts on this work-related aspect of action research by suggesting that it ‘†¦is situational – it is concerned with diagnosing a problem in a specific context and attempting to solve it in that context.’ Although action research as a basis suits the needs of my project as shown above, there are a number of criticisms about the method, often reflecting Cohen and Mannion’s (1998:193) comments that it is not scientific, ‘†¦its sample is restricted and unrepresentative†¦its findings †¦are restricted to the environment in which the research is carried out.’ I accept the above but am satisfied that although my findings may be ‘restricted to the environment’, they are after all intended for use solely within AEGON UK Services, any wider usage will be a bonus. Research data was accumulated by the use of questionnaires completed by learners, interviews with senior managers and Preston College staff, and focus groups conducted with groups of learners. This common multi-method approach is referred to as triangulation, as originally identified by the works of Elliott and Adelman (1976), and has been defined in Open University course 811 Study Guide (1988:54) as ‘†¦cross-checking the existence of certain phenomena and the veracity of individual accounts by gathering data from a number of informants and a number of sources and subsequently comparing and contrasting one account with another in order to produce as full and balanced a study as possible.’ The use of triangulation goes some way to meeting the need for this piece of research to be both reliable and valid. Bryman (1989:55) outlines reliability as something which ‘†¦refers to the consistency of a measure.’ Blaxter et al (1997:200) summarise the issue of reliability in simple terms as considering whether ‘†¦you have carried it out in such a way that, if another researcher were to look into the same questions in the same setting, they would come up with essentially the same results †¦.’ Validity is identified in a similar tone by the same authors, ‘†¦to do with whether your methods, approaches and techniques actually relate to, or measure, the issues you have been exploring.’ Triangulation is particularly important to me because it increases the strength and validity of my work. The use of questionnaires is outlined by Denscombe (1998:88) who suggests that they are at their most productive when: used with large numbers, straightforward information required, the social climate is open, standardised, time allows for delays, resources allow for the costs and when the respondents can be expected to be able to read and understand the questions. However, my own piece of research is much smaller with fewer in the sample, straightforward questions on information that is current, all of which adds to the simplicity of this process. However, there is a range of issues when using questionnaires with Bell (1999:75) suggesting that ‘It is harder to produce a really good questionnaire than might be imagined.’ McKernan (2000:125) endorses that view and warns that amongst the disadvantages are the amount of time taken compiling successful questions and low response rates. Nevertheless, the use of questionnaires provides direct access to the learners and adds balance to the interviews with my colleagues and members of Workplace Training Services. Given that my questionnaire is straightforward with simple questions I am satisfied that this is a particularly useful method of gathering my research data. Further weight is given to this argument by Burns (2000:581) who supports me by adding such strengths as ‘†¦cost, each respondent receives same set of questions, errors in collation of responses reduced, respondents free to reply at own pace/time, fear and embarrassment avoided, may guarantee confidentiality.’ Burns also highlights a number of potential concerns with the use of questionnaires including a poor response rate when compared to interviews, the potential for bias due to poor returns and badly prepared questionnaires. I acknowledge Burns’ concerns and test my questionnaire on a small pilot group of learners, drawn at random, to assess its ease of use; 2 questions are reworded to reflect the comments of this group. Given the small number of staff to have completed the ECDL programme I issue the questionnaire to all 45 which also supports the validity of my research and reduces the potential for any bias due to the choice of my sample. I am conscious that, as Cohen et al (2000:245) put it, ‘†¦the questionnaire will always be an intrusion into the life of the respondent, be it in terms of time taken to complete the questionnaire†¦or the possible invasion of privacy.’ As a result of this, great care is taken over the questions posed, the amount of content and the manner in which this is issued to learners. To keep the questionnaire simple I want to largely use closed questions and this method is supported by Wilson and McLean (1994:21) who confirm that these are ‘†¦simple to complete†¦and do not discriminate unduly on the basis of how articulate the respondents are†¦Ã¢â‚¬â„¢. However, to ensure that people’s views are gathered I aim to allow respondents a small degree of space for their own thoughts to be considered which mirrors the views of Oppenheim (1992:115) when considering the use of closed questions: ‘†¦they do not enable respondents to add any remarks, qualifications and explanations to the categories, and there is a risk that the categories might not be exhaustive and that there might be bias in them.’ A blank questionnaire is included as Appendix B. It is the need to gather personal views and opinions that prompts me to include interviews with senior managers, and focus groups amongst learners. As Denscombe (1998) points out, questionnaires are at their best with large numbers; I am dealing with 6 senior managers and am mindful that the culture of my own organisation is such that as Training Manager it is politic for me to see the senior managers rather than issue them with a questionnaire. As McKernan (2000:128) claims, ‘Interviewing is a social survey skill which can be taught.’ I am satisfied that my role in designing and delivering ‘Interviewing Skills’ training courses for 5 years to the same group of managers enables me to carry out this process! There are a number of identified advantages in using interview techniques for gathering my research data and these include, Burns (2000:582/3) who is an exponent of its flexibility, ‘†¦the interviewer has the opportunity to observe the subject and the total situation in which they are responding†¦Ã¢â‚¬â„¢ which according to Burns should produce higher response rates and ‘†¦if properly conducted should yield response rates of at least 80-85%. ‘ Cohen et al (2000:268) provides further thoughts and considerations on interviews, when outlining the need for trust to exist, suggesting that there should be a relationship between the interviewer and interviewee ‘†¦that transcended the research, that promoted a bond of friendship, a feeling of togetherness and joint pursuit of a common mission rising above personal egos.’ Once again, my relationship with the senior managers is such that I am confident that I have this level of trust in place already to enable a smooth process to occur. In addition, greater credibility is given to me conducting these interviews, as Kane (1997:68) asserts, ‘†¦the closer the interviewer is to the respondent in class, sex, age and interests, the greater chance the interviewer has of being successful.’ When considering the strengths and weaknesses of different types of interviews I endorse the comments of Patton (1980:206) who sets out the ‘interview guide approach’, which mirrors my requirements. The topic and issues to be covered are specified in advance, thus ‘†¦the outline increases the comprehensiveness of the data and makes data collection somewhat systematic for each respondent.’ I recognise that there is a risk of omitting important or salient points and that I must pay particular attention to maintaining focus on the key issues, in this case whether the managers consider that the ECDL programme has benefited the business. Consideration however must be given to the school of thought that exists regarding problems with the interview as a method for gathering my research data. Mason (1997:42) suggests that ‘good qualitative interviewing is hard, creative work. It is a much more complex and exhausting task to plan and carry out †¦ than, for example, to develop and use a structured questionnaire for asking a set of predetermined questions.’ Tuckman (1972) set out a number of problems with the interview as a technique for gathering data, including the fact that a competent interviewer is required (which may involve payment), a limited number of respondents can be reached and the reliability is quite limited. Whilst acknowledging these concerns, as I have set out my competency earlier, I require interviews with a controlled group of 6 individuals only and have a great degree of confidence in the reliability of my data. Not to mention that this interviewer requires no additional payment for the work. My final information gathering technique is the focus group which Kreuger (1988:27) highlights as typically having 5 characteristics, ‘†¦a) people who, b) posses certain characteristics, c) provide data, d) of a qualitative nature, e) in a focussed discussion.’ Cohen et al (2000:288) support my use of the focus group by suggesting that they ‘†¦might be useful to triangulate with more traditional forms of interviewing, questionnaires, observation etc.’ Although observation is not necessary or appropriate for my research, Cohen et al do concur with my use of the interview and questionnaire. According to the December 2002 issue of Croner’s A-Z Briefing (12/02:2), ‘†¦the main advantage of a focus group lies in its ability to collect subjective judgments where several, individual, judgments are better than just one. †¦By using a focus group †¦the researcher can see how and why individual judgments are supported †¦.’ This aspect of the focus group is particularly useful to me as it enables a group of learners to come together and share their experiences of the ECDL programme including highs and lows. It allows me the opportunity to facilitate discussion on the optimum way forward for AEGON UK Services and for future learners. Croner goes on to add that, ‘†¦they perform a useful function when evaluating various aspects of training and development, particularly when qualitative measurements are required and where it is deemed necessary to ascertain any unexpected outcomes or applications which have arisen as a result of such provision.’ Morgan (1988:43) cautions on the size of focus groups, suggesting ‘†¦between four and twelve†¦Ã¢â‚¬â„¢ whilst Croner takes a similar stance, ‘†¦between 6 and 12†¦Ã¢â‚¬â„¢ Both of the above agree on the need for careful consideration with sampling, in this case with the focus group, as Croner puts it (P3), ‘†¦all those involved do need to be representative of the total population under consideration.’ I have already decided to use all of my Award-holders as I have 3 months in which to carry out the research and have a small group, as Bell (1999:83) suggests, ‘The number of subjects in your investigation will necessarily depend on the amount of time you have.’ However, the question of the size of the sample and how it is selected is an issue. Cohen and Mannion (1998:87) put forward a range of sampling tools including probability and non-probability, random and stratified samples whilst Bryman (1989:107) argues the case for a representative sample using a type of probability sample. To ensure that each of my ECDL Award-holders has an equal probability of inclusion in the sample used for the focus groups, names are drawn at random from an Excel spreadsheet. Kerlinger (1986:45), identifies randomness thus, it ‘†¦ means that there is no known law, capable of being expressed in language, that correctly explains or describes events and their outcomes.’ Kerlinger (1986:44) goes on to provide further evidence that my sampling approach is correct, ‘†¦ random sampling is that method of drawing a portion (sample) of a population †¦ so that each member of the population †¦ has an equal chance of being selected.’ Taking into account the thoughts of both Morgan and Croner above, I facilitat e 2 focus groups of 8 members each. There are some difficulties in using focus groups and some of these are identified by Krueger (1988:46/7) who outlines the following: less control of the group as opposed to individuals, difficulties in analysing data, lack of interview skills, varying group dynamics, assembling groups and creating a supportive environment. I acknowledge Krueger’s observations and take extra care when running the focus groups although I must stress that my background is as a skilled interviewer and I am able to create a stable, supportive environment for the attendees who have attended similar workshops and courses in the past, often facilitated by me. ‘Any research project is likely to raise ethical issues. This is particularly so if it involves people directly, but may also be the case even if you conduct your research entirely on documentary evidence’, Blaxter et al (1997:146). Clearly, it is wrong for me to assume that, given my position as Training Manager, there is no issue with ethics, people know me and are happy to open up and provide me with valuable and valid information. Bell (1999:52) warns, ‘People will be doing you a favour if they agree to help, and they will need to know exactly what they will be asked to do, how much time they will be expected to give and what use will be made of the information they provide.’ The view is endorsed by McKernan (2000:241), who adds that, ‘It is crucial for all participants to know what their rights are in research of any kind.’ As such, I take great care when contacting my ECDL learners to alert them to my research and the need for their valuable input to further the learning partnership within AEGON UK Services. Particular attention is paid to the senior managers who give me some of their valuable time for 1:1 interviews and each of them is contacted personally by telephone to discuss the needs and requirements of the research and agree suitable times for the interviews. Hopkins (2000:221/2) identifies a range of principles that I must observe in the commitment to my research including, observing protocol, involving participants, reporting on progress, maintaining confidentiality and obtaining authority before using quotations. Particular care was observed when considering the use of quotations from our external partner, Workplace Training Services, and I arranged a special meeting with Cyril Wheat to discuss the learning partnership and seek his agreement to the use of specific quotations, included in the Conclusions to this research. As Burns (2000:22/3) summarises, ‘All in all it looks fairly difficult to conduct much research without running into ethical arguments.’ Burns’ comments alert me to the need to take nothing for granted in view of my ‘special’ position with the learners, ‘Ethical problems are likely to occur in social science research since human subjects are involved. Researchers must be aware of ethical considerations involved in voluntary and non-voluntary participation, deception, informed consent, privacy and confidentiality, the right to discontinue, and obligations of the experimenter.’ It is this ‘special’ position, that of someone who has worked very closely with most of the ECDL learners, that Sellitz et al (1962:583) might have been thinking of then they attested, ‘†¦ interviewers are human beings and not machines and their manner may have an effect on respondents.’ Many factors can influence responses one way or another, for instance Borg (1981:87) highlights a few of the problems that can occur, ‘†¦ eagerness of the respondents to please the interviewer, a vague antagonism †¦ or the tendency of the interviewer to seek out the answers that his preconceived notions †¦.These factors are called response effect by survey researchers.’ ECDL learners know me well and are aware of my enthusiasm for the learning partnership and our work with the ECDL programme. Might this naturally influence their responses to questionnaires, focus group or, even senior managers, interview questions? However, Bell (1999:139) offers words of wisdom, just as the aspiring researcher wilts under the strains of potential bias, by pointing out that ‘†¦ it is easier to acknowledge the fact that bias can creep in than to eliminate it altogether. This is a key consideration for my research as I am very keen for it to succeed being the instigator of the learning partnership with Workplace Training Services and the person responsible for the ECDL programme. A further area for my research to draw upon is the Training team’s entry for the 2002 National Training Awards. The entry was based upon the team’s work with the ECDL programme in AEGON UK Services and I refer to the comments of the judges in the Data Analysis and Conclusions. My research amongst European Computer Driving Licence (ECDL) award-holders in particular highlights the very positive aspects of the programme and it is encouraging to learn that all questioned feel that the programme has benefited them, personally and professionally. Significantly, the great majority of learners also felt able to now support colleagues with IT-related enquiries, a factor that reflects our status as an Investor In People; staff are keen to share knowledge with each other in a positive manner. ‘Being able to solve problems,’ ‘increasing one’s confidence’, ‘developing trouble-shooting skills’ and appropriately ‘staff trained in new technology’ are benefits to the company, as viewed by the learners. Although it is not the intention in my research to provide statistical analysis, rather to draw conclusions from learners’ responses, the feedback from learners does represent universal support for developing skills to enhance the business. Learners feel more competent to do their work, have a more confident approach and have developed skills to enable new work to be handled also converting manual tasks to a PC-based system. I am able to speak from personal experience and, as a result of taking the ECDL programme, I can now use Excel with some success. Whilst it is very difficult to make any claims with the research I am confident that the programme has made a significant difference. Prior to starting the ECDL prog ramme I was unable to use Excel despite having access to the program, after completing the Excel module I am now able to design spreadsheets for use in the Training team. There is evidence of other organisations introducing a successful ECDL programme and the following case study extracts are from the ECDL’s own website, www.ecdl.co.uk/employer/case. Mike Sampson, Human Resources Director at Royal Liver Assurance, commented: â€Å"We are delighted that the ECDL pilot scheme has proved to be so successful and now intend to run ECDL again with further members of staff. It is important that our employees are given the opportunity to refresh and improve upon their IT skills, which ultimately reflects a great benefit to Royal Liver and ensures the company’s values and good standing are continually maintained.† (www.ecdl.co.uk/employer/case/royal) Even in the world of IT itself, ECDL is viewed as a positive addition to the learning curriculum, Les Williamson, Resources Servicing Manager, IBM, added, ‘We realised fairly quickly that this certification would be beneficial across the site. Not many people can claim proficiency in all the IT productivity tools that we could be using everyday. This is a qualification that demonstrates just that. (www.ecdl.co.uk/employer/case/ibm) 90% of learners feel that they are now more confident when using a PC (66% of the remaining 10% already did so) which is an endorsement of our decision to offer the programme and a statistic from a similar exercise conducted amongst award-holders at Manchester NHS Health Authority in 2002 found that ECDL qualified staff are proven to save an average of 38 minutes per day. Staff within AEGON UK Services also highlighted the speed at which they are now able to process IT-related work as a benefit to the Company. Feedback from the learners in the questionnaires suggested that, whilst staff were achieving success using the CD ROM made available by Workplace Training Services, there was less than total satisfaction. Accordingly, amongst the questions I posed at the focus groups was ‘What method of learning would you recommend for future ECDL students?’ Although only a small percentage of respondents to the questionnaire felt that the quality of learning materials was less than ‘good’ during the focus groups, the mood was very different and people had the opportunity to express their views in more detail. It became apparent that the majority of the attendees of twelve felt that the CD ROM was difficult to work with, either because of their own IT situation out of the office, some did not have a PC at home, or more commonly because of the great amount of detail included. Their preferred learning method was to use paper-based material although some members of the focus gr oups felt that the CD ROM was ideal. Comments were also made that it was often difficult to obtain 1:1 support as members of the Training team were often involved in other projects and, in truth, were never seen as providing close support for learners. Learners’ comments were referred to Cyril Wheat who visited the site and spoke with groups of the learners; as a result, directly, of the feedback provided to Cyril his Workplace Training Services team started to provide future learning support material in two forms, paper-based for the majority, CD ROM where preferred. In addition, another change in policy as a result of feedback, with the introduction of a dedicated resource from the College, someone who would be guaranteed to be on the Lytham site once a week for personal tutorials. Most surprising amongst the findings was the feedback from the senior managers. Whilst the Managing Director has given the partnership with Workplace Training Services his blessing and has in fact recently enrolled on the ECDL programme, the same positive views are not held by the management team. I conducted the interviews and was surprised by the little knowledge that the managers had of the programme, one actually admitted that he had no awareness that any of his staff are taking an award. Whilst the general view amongst the managers was that any learning which develops the staff to enhance the business, must be a good thing, only one member of the team was more positive. One manager had experienced the ECDL programme personally, achieved the award, and spoke highly of the benefits to AEGON UK Services in supporting the implementation of COE. More work remains to be done with the management team for the future of the programme. The comments of learners who have achieved their European Computer Driving Licence (ECDL) are extremely encouraging from a purely personal point of view, the initial thoughts are that my efforts in bringing the ECDL programme to AEGON UK Services staff has paid off. But that cursory observation is not sufficient to merit the programme a success. When we set off on the ECDL programme there was a clear business need to be met, successfully implementing the Common Operating Environment (COE) and the transfer to Microsoft Office 2000. What must not be overlooked was that the business was not using any formal training strategy to meet the requirements generated by the COE and I was confident that ECDL could provide many of the training needs. Although I am not able to provide any hard quantitative data I have feedback from learners and managers which supports the use of the programme. As one manager put it, ‘Having achieved the ECDL I can vouch for the skills and knowledge acquired. Members of my team have demonstrated the benefits of the learning through the enhanced use of different programs.’ The data provides evidence of ECDL supporting the implementation of COE in the business. New skills have been acquired by learners, many of whom are now looking for further opportunities, whilst at the same time encouraging colleagues to enrol on the programme. There are numerous examples quoted of staff who are now able to access different programs, use PowerPoint, Access or in my case, get to grips with Excel for the first time. Our relationship with Workplace Training Services has developed, from the first tentative enquiries regarding the use of ECDL, the College’s first learning partnership in the North West to one of collaboration on other projects; as I close this research we are discussing certificated learning to meet behavioural competencies. Cyril Wheat, Manager Dedicated Delivery, is proud of his organisation’s role with the business and speaks highly of our work, ‘with the commitment of an employer who is providing resources is very important.’ The need for such support is echoed by Tim Rush of Islington Council who adds, ‘We have been lucky here in Islington, Members of the Council and senior management have been fully supportive. Gaining support at that level is essential to any successful implementation.’ (www.ecdl.co.uk/employer/case/islington). Cyril’s team’s commitment to us now includes the use of 10 PCs, available for any form of learning, and a dedicated resource on-site for work with the ECDL programme. Significantly, the learning has largely taken place at no cost to the business and during 2002 over 100 learners were enrolled with Workplace Training Services for free and we have ascertained that open learning with the ECDL programme may yet prove to be extremely cost effective to the business. We have 150 staff achieved or working towards the award with 100 more to follow during the course of this year an costs incurred to-date are a little over à ¯Ã‚ ¿Ã‚ ½3,000 which is approximately à ¯Ã‚ ¿Ã‚ ½12 per learner. Given that this learning ultimately accredits staff members with a universally accepted IT qualification and attendance on external learning is in my experience over à ¯Ã‚ ¿Ã‚ ½100 per day then I believe that this equates to value for money learning. Our work with the fledgling ECDL programme in employer-related learning has highlighted new areas for study. As demonstrated earlier, learners had difficulties with the Computer Based Training and the CD ROM was not viewed as user-friendly; as a result, their feedback has been taken into account and staff enrolling more recently have had access to paper-based support material with CR ROMs available where required. The judges at the 2002 National Training Awards were ‘†¦ impressed by your decision to encourage your employees to undertake the ECDL qualification’ and drew upon a number of other positive aspects although they highlighted a number of important issues for the team to consider. As I point out above, there are limitations with my research and issues to consider for the coming months, as the judges point out in their feedback, ‘†¦ it is still quite early in the process of introducing the Common Operating Environment’ and they have suggested that we ‘re-enter at a later date’. I am also conscious that the research has been carried out by someone with a clearly vested interest in its success, the training of staff in the business is after all my responsibility, and that this may have clouded the findings. I acknowledge this limitation and make efforts to minimise the effects of this bias. My ultimate findings are also effected by yet more bias; the results are based upon my work with learners at AEGON UK Services in a supportive environment where facilities are made available to them and they do not have to pay any fees. I make no claims about applying my results to a wider audience whether in another industry or with the public at large. However, the final thought lies with Andrew Mayo, writing in the January 2003 edition of Training Journal, who holds out, ‘So here is the challenge for 2003. Will you be able to say, at the end of the year, where and how learning interventions made a difference to the achievements of the organisation(s) you work with †¦.’ From the feedback received from learners and indeed Workplace Training Services’ staff I am confident that the ECDL programme has already made an impact on AEGON UK Services although greater communication is required with senior managers based upon their own feedback. Furthermore, as the judges of the National Training Awards indicate, there is yet more to come as our learning partnership matures and more staff set out on the road to success through the challenge of ECDL. Project Proposal – DHL0730 Empirical Study AEGON UK Services in partnership with Workplace Training Services, an arm of Preston College, started to offer the European Computer Driving Licence (ECDL) to staff in September 2001. The ECDL programme based it is upon Microsoft Office 2000 applications was seen as an ideal complement to the Common Operating Environment (COE) to be launched in 2002. At the same time the launch of ECDL provided further evidence of the Company facilitating learning and development opportunities for its staff. Under COE the whole of AEGON UK would operate with Microsoft Office 2000 whilst over 90% of staff were familiar with the 1997 version or earlier. To-date over 150 staff have started or finished the ECDL programme yet no evaluation of the success or otherwise of ECDL within AEGON UK Services has ever been carried out. An evaluation of the European Computer Driving Licence (ECDL) as used by AEGON UK Services. The ECDL was launched to develop the skills of European citizens and to enable them to become proficient in PC skills. The use of ECDL within AEGON UK Services was designed to provide staff with the skills necessary to deal effectively with the Common Operating Environment (COE), in effect Microsoft Office 2000. An Evaluation of the European Computer Driving Licence. (2017, Oct 12).

Starwood Hotels & Resorts Worldwide Inc. and Starwood Media Centre Dissertation

Starwood Hotels & Resorts Worldwide Inc. and Starwood Media Centre (SMC). Hospitality Research Project - Dissertation Example Methodology 11 Research design 11 Methods 12 Primary data 13 Secondary data 13 Sample 14 8. Results 15 TEKGROUP Online Newsroom Survey Report 15 ACCENTURE NEWSROOM 17 Functionality 18 Ease of Use 18 User Engagement 18 Design 18 STARBUCKS NEWSROOM 19 Functionality 19 Ease of Use 19 User Engagement 19 Design 19 VOLKSWAGEN CANADA MEDIA ROOM 20 Functionality 20 Ease of Use 20 User Engagement 20 Design 20 9. Discussion 21 Links 22 Interactive Platform 22 Compact Outlook and Use of Small Fonts 23 10. Recommendations & Limitations 24 Website Functionality 24 Website Design 24 Website Content 25 QR Codes 25 Sign Up Function 25 Verification Process 26 11. Conclusion 26 12. Bibliography 28 APPENDIX 30 Appendix I – Conceptual Model 30 Appendix II – Interview 30 Executive Summary The world as we know it is never static, it changes with every passing second. This is solely because of the fast nature in which information moves across different interfaces. This is made possible primar ily because of the internet, providing within itself an opportunity to its users to access and distribute information at the click of a button. The world dwells and thrives on news and information, forming their ideas based on what they read and hear. This is why the website set up by the Starwood Hotels & Resorts Worldwide Inc. always needs to adequately represent the current state of affairs, noting to build the company’s image to the rest of the world. That is its primary purpose, acting like an online public relations forum, tasked with engaging the general public on different levels, all with a view to ensuring that the hotel chain maintains its stellar status while at the same time conducting its business at a maximum level of operations. This paper has sought to analyze the...This paper has sought to analyze the efficiency and expediency with which SMC has been set up and is being run as the premier website for Starwood Hotels & Resorts Worldwide Inc.The world as we kn ow it is never static, it changes with every passing second.This is solely because of the fast nature in which information moves across different interfaces. This is made possible primarily because of the internet, providing within itself an opportunity to its users to access and distribute information at the click of a button.The world dwells and thrives on news and information, forming their ideas based on what they read and hear. This is why the website set up by the Starwood Hotels & Resorts Worldwide Inc. always needs to adequately represent the current state of affairs, noting to build the company’s image to the rest of the world. That is its primary purpose, acting like an online public relations forum, tasked with engaging the general public on different levels, all with a view to ensuring that the hotel chain maintains its stellar status while at the same time conducting its business at a maximum level of operations.This paper has sought to analyze the efficiency and expediency with which SMC has been set up and is being run as the premier website for Starwood Hotels & Resorts Worldwide Inc. The ability of the website to represent the interests of the chain of hotels and resorts has been questioned with a view to determining whether the website fully performs its function as a one-stop destination for any user who intends to gather information on the hotel franchise.

Rhetorical Analysis Essay Example | Topics and Well Written Essays - 750 words - 2

Rhetorical Analysis - Essay Example Summary of the Article Carr in his article offers an interesting look on the recent growth of online courses. He alleges that with the increased growth of online automation and analyzing algorithms, the MOOCs have become quite effective (36). The author meticulously describes the transitions that have taken place from the traditional means in which classes were undertaken to the new concept of the MOOCs. Additionally, he talks in length about ways in which the computers have helped in customizing the students’ learning experience. However, he points out to some of the challenges that are facing the MOOCs, alleging that, â€Å"of the 160,000 people who enrolled in Norvig and Thrun’s AI class, only about 14 percent ended up completing it† (Carr 40). In that case, the high dropout reveals the challenges that emanates from keeping online students motivated and attentive. One of the major implications that the author fails to address in regard to the increase of techn ology and MOOCs is the effect that the lack of professors would have on education and the field of research. If the technology ends up pushing the professors out of the classrooms, then it would be necessary for the author to focus on telling readers where that places the state of research. Nevertheless, he clearly explains on the reason why most people prefer online classes to classroom college education, asserting that people are dissatisfied with college education because it is time consuming and expensive. He confirms, â€Å"the average price tag for a bachelor’s degree has shot up to more than $ 100,000† (Carr, 34). Another reason behind the rise of MOOCs that is well argued out is that despite the rise in the cost of higher education, its quality has dropped. Generally, the pros and cons of MOOCs have been well argued and Carr looks as to be spot on in his scrutiny of the future of the universities. Rhetoric Analysis In Carr’s article, he uses a descriptiv e tone to appeal to readers in addressing the issue of technology and its pros and cons. Through his descriptions, he manages to paint a picture of slowly diminishing universities, owing to the rise of MOOCs. For instance, he creates imagery of a population that is slowly moving towards online classes, following the high expenses and low quality education. On the same note, he uses contrast to create a tone of disapproval among few people who still think that online classes tend to pose more challenges. For instance, he asserts, â€Å"but not everyone is enthusiastic. The online classes, some educators fear, will at best prove a distraction to college administrators†¦Ã¢â‚¬  (Carr 34). Carr commences the article with historical facts, describing how technology has advanced over the years and has had an impact on higher education. This technique helps in establishing the tone of the article as one that is formal; hence, drawing the reader’s interest because of the credib ility that comes with historical facts. Additionally, the author uses comparative and contrasting techniques to give an overview on what education was like before and how it has changed with the revolution of technology. For example, the author compares correspondence courses to traditional on campus lessons, arguing that they were both beneficial to students though

Information Systems and Software Applications Assignment

Information Systems and Software Applications - Assignment Example There are different software applications and systems for different departments in an organization to cater to their unique needs. Many vendors are available in the market to offer their own creations therefore it is a difficult task to choose the most appropriate required software. Some of the most known vendors in the market that provide such systems and applications are: Oracle provides an efficient financial management solution among its wide range of products with the name of Oracle E-business Suite Financials. It automates the financial structure of the organization and provides a standard global platform for accounting and finance activities. Oracle (2010a) explains that it offers many functions and features, namely; asset lifecycle management, lease and finance management, financial analysis, travel and expense management etc. It allows the organization to meet the global financial reporting standards which is coupled with banking and payments model. Human resource department is also a very important department in an organization that overlooks many operations and processes. SAP Human Resource Management System is one of the best HR systems in the market. It offers many functions to its users and automates many processes that are related to this department. According to Independent SAP Information (2010), some of the main modules of this system are as follows: These modules are further divided into smaller modules that take care of different functions in the organization for example Time management further includes shift planning, time sheet, time administration. Payroll module involves all the activities related to the salaries of the employees, leave management, bonuses, increments etc. An efficient system for the marketing department is Oracle Marketing Analytics; it enables the organization and thus the department to get maximum results from their

Is the use of field trips in geography a useful wasy for children to Essay

Is the use of field trips in geography a useful wasy for children to learn between the age of 5 to 11 year old discuss - Essay Example In short, early years geography is fundamentally about the development of the concepts of ‘space’ and ‘place’ and, entirely depends upon a wide range of classroom tasks and related learning activities that can contribute to effective learning of these concepts. Practical tasks with which children may engage to promote meaningful learning in geography draw upon a complex theoretical framework. Present space clearly does not allow for a comprehensive overview and analysis of this. Thus it is intended to highlight a number of key elements of the framework and to illuminate these with recent and relevant research evidence. (Birch & Palmer, 2004, p. 8) While the content of the National Curriculum for Schools in England underpins and guides the structure of the forthcoming text, it also discusses general principles of teaching and learning in geographical education that are transferable and applicable to all ‘early years’ children of nursery and school age. It is relevant to teachers, student teachers, policy-makers and all other providers of field trip education for children aged 5 to 11 years; that is, the Foundation Stage and Key Stage 1 in the language of the National Curriculum. We consider it to be both a difficult and inappropriate task to pursue any discussion of learning experiences relating to the subject matter of geography in the early years of schooling without making reference to the cross-curricular theme of education for sustainable development, closely allied to the area of learning which many know as environmental education. These learning experiences refer to a large extent of Geographical field trips which are inextricably linked in the work of primary education ranging from nursery to early primary classes. Therefore, their inter-relationships are considered with field trips and practical examples that take account of teaching and learning across the whole spectrum of geography and what might be termed

Critically evaluate the concepts of the uncovered interest parity and Essay

Critically evaluate the concepts of the uncovered interest parity and covered interest parity conditions in explaining changes in exchanges rates. Discuss their - Essay Example The principal function of FEM is the transfer of funds or purchasing power from one country or currency to another. When we consider exchange rate determination, the factors that significantly concern time dependence, become extremely important. It is somewhat reflected in the interest rates which themselves are prices of present-future substitution (abstinence); this influences savings, consumption, demand for goods, and so, money (both domestic and foreign) and hence the related prices. Thus exchange rate being a price of foreign currency in terms of the domestic currency, becomes influenced by interest rate and inflation over time. The sections below are titled along sub-themes with a critical note at the concluding section. As stated above, the exchange rate is in turn governed by a currency's interest rate and hence the question of parity and differentials become extremely important. Interest rate parity is said to occur when deposits of all currencies offer the same expected return. Two types of such parity have been envisaged in the literature Covered and uncovered that we discuss below. In the floating exchange rates regime exchange rates are market determined. Since Early Mundell-Flemming days (i.e. early nineteen sixties), it has been established that the degree of capital mobility is crucial in determining the open economy macroeconomics of participating countries. In this context when perfect international capital mobility occurs, bonds that are free of default risk domestically become free of default risk internationally also. With capital mobility of this degree, domestic bonds become perfect substitutes of foreign bonds on which forward cover has been taken and arbitrage brings about equality between domestic interest rate i and foreign interest rate i* plus the forward premium on foreign exchange 'f '.This is covered interest rate parity (cip) given by : i = i* + f (1) 2.2 Uncovered Interest Parity A stronger definition of capital mobility incorporates additional criterion that attitude towards exchange risk be taken as risk neutrality because that is nearly common among investors and exchange risk is perfectly diversifiable. In that case speculation turns the forward premium into equality with the expected rate of appreciation of the foreign currency: f = [(Et+1 - Et) / Et]e (2) where E is the exchange rate that the price of the foreign currency in terms of domestic currency (superscript e refers to expected status of the associated variable).Then equation (1) changes into i = i* + [(Et+1 - Et) / Et]e (3) This is the condition known as uncovered interest parity (uip). 3. Relationship between Covered and Uncovered Interest Parity In the case of perfect foresight and perfect capital mobility the two conditions will be the same. The relationship between the two lies in the characteristic of future expectation orientation of the uip that one does not take care of in the perfect capital mobility, perfect information and perfectly rational expectations. Form empirical standpoint,

Critically evaluate at least two different theories of autism Essay

Critically evaluate at least two different theories of autism - Essay Example And while in the mentioned films the problem of integration of people with autism in society is considered, modern medical researchers are not less concerned with the problem of uncovering the biological causes of autism. But this task is far from being an easy one, as can be judged from the fact that there are currently several tens of various theories that pretend if not to discover the single cause of autism, but at least to offer clues as to autism`s most fundamental physiological roots (Novartis Foundation, 2003, pp.8-9). In this regard, let us overview and critically evaluate several theories of autism, each of which highlights different biological mechanisms that are suspected to lead to this developmental disorder. In general, theories of autism emergence can be divided into large categories. One group of theories, such as for instance opioid excess theories, views autism as a consequence of certain inborn abnormalities; another group, like for example viral infection theories or the approach that accentuates the increased intestinal permeability, links autism with some acquired abnormalities; and there is a group of theories that aims to investigate the possibility of connection between autism and external factors of influence, such as the effects produced by certain types of vaccines. As can be immediately seen, the range of possible causes of autism is quite diverse. To better asses each type of approaches to autism study, we will overview the mentioned opioid excess theories, the viral infection theory, and the theory of the autism origin due to standard vaccinations of children. The opioid excess theories of autism emphasise abnormalities in the complex workings and influences of opioids and opioid-like substances in the human organism, and particularly in the brain. Natural opioids produce various effects upon the processes of hormonal regulation, especially if there is an

Emperor Qinshihuang Essay Example | Topics and Well Written Essays - 2500 words

Emperor Qinshihuang - Essay Example when the country set course to become unified, by about 221 B.C., during which time he provided leadership and direction to the country. Emperor Qin Shi Huang was the First Emperor of this new and Unified China, and his reign, first as king and then as Emperor, stretched from 246 to 210 B.C. To be fair, it should be noted the Emperor is recorded to be quite a tyrannical figure in Chinese history. This was likely necessitated by the fact, however, that he had to struggle to keep the country unified during this initial stage of China being governed by an Emperor, particularly during the first part of his reign. It was a paradox of sorts, as this 35 year rule of power by the Emperor saw both great advances in cultural and intellectual pursuits, yet also resulted in great amounts of destruction throughout the land (Donn & Donn 2003). Perhaps owing to this reason, there are different schools of thought when considering the perceived greatness of Emperor Qin Shi Huang. Yet, history cannot erase the fact that the first emperor of a unified China must be considered when broaching any discussion about what forms the foundation of the country that we know today. The basis for modern day China can certain be traced back way before the time of Christ, with the line of emperors that sough to advance the region into the most powerful and greatest country on earth. At the time that the Emperor came into power, China had really been ravaged by division. As such, the infrastructure of the country was in tatters, and there was little direction about how the country would experience any type of progress (Wood 2008). The people really did need a strong leader if they were going to advance as a civilization, so it was almost by necessity that Emperor Qin Shi Huang ruled with an iron fist so to speak. This dominate and charismatic leader, however, was able to accomplish a great deal during the 35 years he held onto the position of emperor. Some of the many accomplishments entailed t he numerous construction projects completed, adding greatly to the vitality of the region (Feuchtwang 2011). In addition, history shows us that China began to develop its own distinct culture and tradition during this time, as well as becoming known for its intellectual pursuits that are still marveled at today. In the end, however, there was also great destruction throughout the country as there were many who did not seek a unified China of this fashion, but the emperor was able to hang on. To understand how he did this, it would help to go back to the beginning and work our way forward. There is not tremendously reliable evidence about the birth and family lineage of Qin Shi Huang. It is widely believed that he was born as an illegitimate chid, and we are not entirely certain of his birth father of record (Wilkinson 2000). Just as today, illegitimate children in China are frowned upon a bit in the social hierarchy, so this likely contributed to some of the negative criticism aimed at the First Emperor. History today does shed a bit different of a light on the record of his birth, but the evidence is still not conclusive. The reality is, however, that we know Qin Shi Huang become unified China’s first Emperor at the early age of 13. Even though such young rulers are not unheard of in ancient civilization, this emperor actually ruled by proxy for the first 8 years, as Lu Buwei was the figure head and decision maker during that time. Buewi was the modern day equivalent of Prime Minister and, interestingly, is the person

Total Information Network Essay Example for Free

Total Information Network Essay Total information is a paradox; no one library or resource can serve the need for scholarly pursuits though a network of such is gradually moving toward satisfying particular informational needs. The recent times are a witness to increased cataloging and documentation- which in time will be part of historical documents and databases. There is a particular inclination toward the use of the internet for informational necessities that, though not an all-inclusive resort, accords one the flexibility the modern world demands. Students and academicians benefit from the online resources at their disposal. Online libraries such as questia.com and bibliomania.com are gaining popularity from a scholarly clientele because of the flexibility it can accord one from using those online resources. Questia.com boasts of over a million journals and tens of thousands of books in fields from architecture to law, economics to psychology etc. Tools such as the encyclopedia and thesaurus, along with newspapers and magazines in their reading room, are extra amenities. Bibliomania.com has a voluminous collection of fiction, drama, poetry, and short stories, and non-fiction, biographies and religious texts in its domain. In addition, study tools such as study guides and references are part of the package.   Ã‚  Ã‚  Ã‚   On a more complex note, the online library libraryspot.com is connected to an even wider array of libraries- online, academic, government, public, state, law and medical libraries for one’s research needs. The online government libraries give one access to the National Archives, the Library of Congress, the Internet Law Library, the White House Press Room, National Library of Education, National Library of Medicine, National Agricultural Library and the Air Force Library. As an example, the National Archives (archives.gov) allows for an exploration of federal research documents (legislative, executive and judicial), research and order, America’s Historical Documents and presidential files. The Library of Congress (loc.gov for the online counterpart), being Congress’ research arm and â€Å"the oldest federal cultural institution† is the largest library in the world and has for its collection millions of books, manuscripts, maps, photographs and recordings. The online academic libraries give one access to select university libraries per state (e.g. Indiana University in Indiana and Columbia University in New York) that have their own collection of books, journals, dissertations and other documents along with regular library materials. The public libraries portal is connected to PublicLibraries.com, Libweb, UK Public Libraries and the Public Libraries of Europe- all of which are online. The state libraries section channels you to state-specific libraries with public records on population censuses, marriage indexes, family and local histories, military and pension information, and cemetery location files. The National Library of Medicine online and Medical Libraries online, and the Law Library Catalogs online, the Law Library of Congress online and the American Association of Law Libraries online, are cached under the medical and law libraries, respectively. Access to these online libraries is usually free, although some require a login ID and password.   Ã‚  Ã‚  Ã‚   For a model, the Walden Library is an excellent resource. It has a wide array of articles, books, dissertations, government resources and textbooks which one could get from Walden databases, local libraries, commercial sources and by document delivery. Walden University’s Document Delivery Service is a unique feature that allows researchers to borrow books and obtain materials’ photocopies owned by the IU-Bloomington Libraries. Registration is a requirement, and an email with a username/password will be forwarded to the subscriber. Materials requests can then be submitted (e.g. books, photocopies) after checking on an IU-Bloomington ownership from the online catalog. The service is free but typical delivery time is 7-10 days or longer and there is an assumption of responsibility for the book’s return amidst any circumstance. The Walden Library even has a portal connected to other local libraries, online bookstores and commercial sources, should the requested material prove to be inaccessible. A portal linking one to the librarian, should one have particular queries, is also an amenity.   Ã‚  Ã‚  Ã‚   Building a total information network need not be an impossibility!

How Andrew Jackson was portrayed Essay Example for Free

How Andrew Jackson was portrayed Essay Andrew Jackson was the seventh president of the United States. A rough-hewn military hero, he was regarded by many as the spokesman of the common man. He entered the White House in 1829 after winning the second of two vigorously fought election campaigns. Through his forceful personality, he restructured the office of the president and helped shape the democratic party. Less educated and less schooled in government than many of his political opponents, Jackson had leaped to national fame in the War of 1812 as the hero of the Battle of New Orleans and had captured the dedicated loyalty of a vast segment of the American population. He was widely acclaimed as the symbol of what the new American thought himself to be a self-made man endowed with virtue and strength. The results of the election of 1824 proved that Jackson was indeed the champion of a popular majority. Jacksons administrations were highlighted by the frustration of sectional attempts to weaken the central government by state nullification of federal law, and by his confrontation with the Bank of the U.S. Jackson also positively affected the development of the U.S. presidency. He concentrated power in the office through wide use of the veto and through his insistence that the chief executive alone represented the will of the whole nation. He committed the presidential powers to the protection of the people. Throughout his presidency, Jackson was portrayed as both a states rightist and as a nationalist. As a states rightist, he proteced the states rights so that the federal government would not fund individual states rights and favor them over other states. He was a strong believer in the political ideas of the Jeffersonians. Another example of Jackson being a states rightist includes the Maysville Road veto. Jackson had pledged to reduce the national debt and was opposed to the rising number of bills before Congress that proposed to finance internal improvements with public money. The Maysville Road Bill gave authorized the use of federal funds to construct a road between the towns of Maysville and Lexington, both in Kentucky. Jackson vetoed the bill, calling it unconstitutional because it concerned only the state of Kentucky. As a nationalist, Jackson believed in a strong central government in order to unify the nation. He also believed in a democracy for the entire nation. Jackson also supported the Spoils System, which rewarded his political supporters with public offices and allowed common people to take office.

Purpose of Economics and Price Mechanisms

Purpose of Economics and Price Mechanisms Task 1 Describe ‘economics’, the purpose of its activities and identify economic problem. Economic system is a system aim for producing, distributing and consuming goods and services. It includes the combination of the various institutions, agencies, consumers, entities that comprise the economic structure of a given society or community. Furthermore, it also includes how these agencies and institutions are related to each other, how information flows between them and the social relations within the system which including property rights and the structure of management. The mode of production will be the related concept. Every economic system provides solutions to four questions: what goods and services will be produced; how they will be produced; for whom they will be produced; and how they will be allocated between consumption (for present use) and investment (for future use). In a devolved economic system, these questions are resolved. This lead to economic coordination to achieved through the price mechanism(Elton, 2014). The basic economic problem is about scarcity and choice since there are only a limited amount of resources available to produce the unlimited amount of goods and services which human, people wants and needs. Because of scarcity, various economic decisions must be made to allocate resources efficiently. Resources A resource is a means of support also can be regarded as any feature of our environment that helps to support our well being. There are three main types of resource: The first Physical or natural resource – such as oil, climate, water, minerals, forests and fisheries. The second human resource – peoples and their various skills. The third man made resources – e.g. machines, equipments. Scarcity Scarcity can be broken down into four key ingredients of factors of production: Land – Land includes all natural resources. Labour – Labour includes all physical and mental effort. Capital – Capital includes machinery and other items that go into further production. Enterprise – enterprise is the art of combining the other three factors in the production process. Scarce goods and services As notes above, if did not exist, all goods and services would be free. A good is considered scarce if it has a non-zero cost to consume costs something and is scarce. By consuming one good, another good is foregone. Therefore decisions and trade-offs to be made.(T.Ming, 2014,) The cost of a food is a signal of its scarcity. One good maybe more scare than another, either because of limited resources or higher want (demand) for that good. Choice Because resources are scarce and most of our wants are extensive, a choice has to be made about how to use scare resources in the best way. Based on the choice, the highest-value option will be forgone and this is called ‘opportunity cost’. This rule applies to organisations, society as a whole, and to individuals. Choice and opportunity cost Choice and opportunity cost are two fundamental concepts in economics. Given that resources are limited, producers and consumers have to make choices between competing alternatives. All economic decisions involve making choices. Individuals must choose how best to use their skill and effort, firms must choose how best to use their workers and machinery, and governments must choose how to use taxpayer’s money. Making an economic choice creates a sacrifice because alternatives must be given up, which results in the loss of benefit that the alternative would have provided. Similarly, land and other resources, which have been used to build a new school could have been used to build a new factory. The loss of thenext bestoption represents the real sacrifice and is referred to asopportunity cost. The opportunity cost of choosing the school is the loss of the factory, and what could have been produced. It is necessary to appreciate that opportunity cost relates to the loss of the next best alternative, and not just any alternative. The true cost of any decision is always the closest option not chosen. (Bong, 2014) Define the theory of ‘price mechanism’ by Adam Smith and illustrate by examples(s) to supports yours answer with relevant issues. Adam Smith is one of the Founding Fathers of economics described the â€Å"invisible hand of the price mechanism† in which the hidden-hand of the market operating in a competitive market through the pursuit of self-interest allocated resources in society’s best interest. It was the notion of the invisible hand that enabled Adam Smith to develop the first comprehensive theory of the economy as an interrelated social system. (Tay, 2014) In common, the concept is composed of three logical steps: The first is the observation that human action often leads to consequences that were unintended and unforeseen by the actors. The second step is the argument that the sum of these unintended consequences over a large number of individuals or over a long period of time may, given the right circumstances, result in an order that is understandable to the human mind and appears as if it were the product of some intelligent planner. The third and final step is the judgments that the overall order is beneficial to the participants in the order in ways that they did not intend but nevertheless find desirable. The price mechanism performs three main functions: Rationing The aim is to ration scare resources when demand in market outstrips supply. When there is a shortage of a good, the price is bid up, leaving only those with the willingness and ability to pay to purchase the product. This can causes supply and demand to reach equilibrium of demand and supply. Signaling function They adjust to demonstrate where resources are required or not, via a change in demand. For example, the price of goods which are scarce will increase. This increase in price should provide an incentive for producers to increase production of the good so that can meet the demand. Transmission of preferences Consumers are able to alert producers to changes the nature in wants and needs through their choices so that the market provides the right amount of the right goods. When demand is weaker, then the supply will contracts as the producers cut back on output. Task 2 Identify factors affecting the economics of an organization. There are few types of competition in business. They are perfect competition, imperfect competition, and monopolistic competition. Perfect competition It is a low barrier to entry, many choices by consumers, and no business has supremacy. It means that many companies competing and nobody has a substantial lead. For examples, restaurants, grocery stores, barbers shop, shopping mall, professional services such as dentist, doctor, contractor and others. It is a theoretical state in which not only single buyer or seller has influence over the any products sold in the market. Sellers are free to enter the market to sell any product and buyers are free to purchase any product wanted. A large number of producers and sellers operate in the perfect competitive market, and the products sold by one producer are easily replaced by a similar product from another producer. Prices for goods or services would be established by the rate in majority of consumers are willing to pay and producers will adjusting the productivity to balance with the price. (ReemHeakal, 2014) Imperfect competition It describes a market where many firms offer variations of the same product or multiple products are offered with differences. The difference may be differs in quality, preference, durability, price or utility. However, firm will be forced to departure the market if their products are not purchase by consumers. For example, a hair style cutting may be assisted by more than numbers of barber shops which all differing in style, price and environment. Consumers are bound only by personal preference and affordability in choosing a barber shop. (Hans, 2014) Monopolistic competition The sellers feel they do have some competition. There is one big company dominating the market with a few medium or smaller sized companies. Identify source of finance. Source of finance Some sources of finance areshort termand must be paid back within a year. Other sources of finance arelong termand can be paid back over many years. Venture capital provides long-term, dedicated share capital to help unquoted companies grow and succeed. Obtaining venture capital is significantly different from raising debt or a loan from a lender. The lenders have a legal right to interest on a loan and repayment of the capital depends on the business weather success or failure. Venture capital is the money put into an enterprise which may all be lost if the enterprise fails. A businessman starting up a new business will invest venture capital of his own, but he will probably need extra funding from other source, and can be very successful if he gets very high profits and a substantial return on the investment. However, there must be a very high risk of losing the investment and it will take some times to get the return and profits. A venture capitalist will require a high expected rate of return on investments, to recompense for the high risk. Internal sourcesof finance are funds found inside the business. For example, profits can be kept back to finance expansion. Alternatively the business can sell assets that are no longer really needed to free up cash. Internal Sources of finance and growth It defined as organic growth which is the growth generated through the development and expansion of the business itself. An organic growth can be achieved through generating increasing sales which increase income to influence on overall profit levels. Besides that, it can be used of retained profit which used to reinvest in the business. Other than that, the company also can sale their asset which can be a double edged sword so that it can reduce the capacity. External sourcesof finance are found outside the business, eg fromcreditorsor banks. External Sources of finance and growth This can be categorizing into 3 groups which are long term, short term, and inorganic growth. Long term may be paid back after many years or not to be paid. Short term is used to cover variations in cash flow. The growth which generated by gaining is used to define inorganic growth. In long term, there are shares and loans can be practice. Long term There are few types of shares in long term shares which are ordinary shares, preference shares, new share issues, rights issue and bonus or scrip issue. Ordinary shares (Equities) Ordinary shareholders have the voting to rights in making any decision for company’s benefits. The dividend can be differing according to their contribution and share capital. Last to be paid back in event of collapse. They share the price varies with trade on stock exchange. Preference share The shareholders will be paid before ordinary shareholders. They have the fixed in return. It is cumulative preference shareholders which have the right to dividend carried over to next year in event of non-payment. Rights issue The present shareholders are given discount on buying new shares.Bonus or scrip issue- It is the change to the share structure which increase number of shares and reduces value but market capitalization will remain the same.There are few types of loan in long term loan which are Debentures, bank loans and mortgages, merchant or investment banks, and government. Debentures It has the fixed in rate of return which first to be paid.Bank loans and mortgages- It is suitable for small to medium sized of corporation where property or some other asset acts as security for the loan. Merchant or Investment Banks It act depends on clients to organize and underwrite raising finance. Short term There are some categories in 5 groups including bank loans, overdraft facilities, trade credit, factoring and leasing. Bank loans It has the necessity of paying interest on the payment. The periods of payment is generally from one year then not longer than ten years. Overdraft facilities It is the right to be able to withdraw funds that do not currently have. It provides flexibility for a firm. The interest only paid on the amount been overdrawn. There is an overdraft limit which is the maximum amount allowed to be drawn. Trade credit It can help the ease of cash flow which commonly can be paid within 90 days. Factoring It is about the sale of debt to a specialist firm who secures payment and charges a commission for the services. Leasing The used of capital can be secure without the ownership. It is effectively a hire agreement. Inorganic growth It is about achievement. The components to gain the external finance of inorganic growth are merger and also takeover. Merger The Company agrees to join together which both can remain some of the identity form. Takeover The firm will be secure control by the other, the firm taken over most probability will lose its identity. Task 3 Identify and describe types of financing sources which available for the said projects. On my opinion, this company should base on medium and long terms sources of finance. Medium term sources are usually repaid between 1 – 5 years. Some sources of finance areshort termand must be paid back within a year. Short term sources are repaid within one tear. Other sources of finance arelong termand can be paid back over many years. Long term sources are usually repaid between 5 – 20 years. Medium term Hire purchase:It involves purchasing an asset paying for it over a period of time. Usually a percentage of the price is paid as down payment and the rest is paid in installments for the period of time agreed upon. The business has to pay an interest on these installments. Leasing:Leasing involves using an asset, but the ownership does not pass to the user. Business can lease a building or machinery and a periodic payment is made as rent, till the time the business uses the assets. The business does not need to purchase the asset. Advantage Disadvantage The business can benefit from the asset without purchasing it. Usually the maintenance of the asset is done by the leasing firm. The total cost of leasing may end up higher than the purchasing of asset Medium term loans:The business borrows an agreed amount, which is advanced at the start of the loan. A repayment schedule between one and five years is agreed. Interest is charged in line with general interest rates and the category of the borrower is taken into consideration. The business will normally have to provide security for the loan but, with the cash raised, they can avail of cash discounts when buying assets. Leasing:This form of finance allows a business to use an asset without having to raise the full price. In essence, the business rents the asset from a financial institution. The advantage to the business is that it allows the business claim a tax deduction for the full leasing payments over the life of the lease. The downside is that the asset is not owned unless the business decides to buy out the lease. Leasing is appropriate for IT equipment, which may have to be changed every two to three years Long term Ordinary sharesmay be issued to finance a major expansion such as the building of a factory overseas. The board of directors must convince the existing shareholders or attract investors to subscribe to the new issue. The shareholders will expect a dividend and a capital gain on their investment. The proposed expansion must therefore be profitable or else the investors will be disappointed. Retained earningsare profits, which are ploughed back into the business to create growth. This form of finance is suitable for organic growth as the pace of the expansion can be matched to the funds available. The shareholders have to give up some or all of their dividends but, if growth is a success, the value of their shares will increase. Long-term loansare borrowed from financial institutions and must be repaid with interest within five to twenty years. If repayments can be met, borrowing allows the business to grow without introducing any new owners who would have a share of all future profits. Dunes Stores, one of Irelands leading retail chains, remains a private company and does not look for shareholder funds when expanding. Instead it uses borrowings and retained earnings. This means that a small family group retain absolute control of the business. Venture capitala special type of financial institution has been formed to help firms grow. Venture capital companies provide money for a limited period of time, usually in the form of a minority equity stake. It is hoped that at the end of this time the company will have grown large enough to achieve a stock exchange quotation. This allows the venture capital company to sell its shares for a large profit. Propose a financing source which is suitable for given project. Justify the reason of the chosen option. Some sources of finance are medium term and must be paid back within 5 – 10 years. Other sources of finance arelong termand can be paid back over many years. Long term sources are usually repaid between 5 – 20 years. Long term The term venture capital is more specifically associated with putting money, usually in return for an equity stake, into a new business, a management buy-out or a major expansion scheme. The institution that puts in the money recognizes the gamble inherent in the funding. There is a serious risk of losing the entire investment, and it might take a long time before any profits and returns materialize. But there is also the prospect of very high profits and a substantial return on the investment. A venture capitalist will require a high expected rate of return on investments, to compensate for the high risk. A venture capital organization will not want to retain its investment in a business indefinitely, and when it considers putting money into a business venture, it will also consider its exit, that is, how it will be able to pull out of the business eventually and realize its profits. Examples of venture capital organizations are: Merchant Bank of Central Africa Ltd and Anglo American Corporation Services Ltd. When a companys directors look for help from a venture capital institution, they must recognize that: The institution will want an equity stake in the company. It will need convincing that the company can be successful. It may want to have a representative appointed to the companys board, to look after its interests. The directors of the company must then contact venture capital organisations, to try and find one or more which would be willing to offer finance. A venture capital organisation will only give funds to a company that it believes can succeed, and before it will make any definite offer, it will want from the company management: A business plan Details of how much finance is needed and how it will be used The most recent trading figures of the company, a balance sheet, a cash flowforecast A profit forecast Details of the management team, with evidence of a wide range of management skills Details of major shareholders Details of the companys current banking arrangements and any other sources of finance Any sales literature or publicity material that the company has issued. A high percentage of requests for venture capital are rejected on an initial screening, and only a small percentage of all requests survive both this screening and further investigation and result in actual investments. 1