Investment Decisions Implications Capital Budgeting

Question: Discuss about the Investment Decisions Implications for Capital Budgeting. Answer: Introduction Sensitive analysis and scenario analysis both are performed for decision making regarding the investments. In a sensitivity analysis, many factors which influence decision is tested for seeing their sensitivity in decision making. Capital budgeting techniques are also used for investment decisions. Scenario analysis related to budgeting regarding the future cash inflow and outflow. This report is going to put light on the way in which sensitive analysis and scenario analysis used in capital budgeting technique. The capital asset pricing model is a most celebrated model of finance for asset pricing. This model has some assumptions and some theories which will be discussed in this report. The capital market line is also derived from capital asset pricing model. This line indicates the extra return by including risky stocks in the portfolio. This report puts light on both capital market line and capital asset pricing model. What is capital budgeting Capital budgeting is a technique which helps in decision making regarding the investment decisions. In capital budgeting, one estimates regarding the investment and revenue from any project (Myers, 1512). Sensitivity analysis in capital budgeting Sensitivity analysis gives some addition regarding the business decision using capital budgeting. There are many things which effect the decision making regarding any project like outflow involved in that project, duration for which project exist, inflow from the project and rate of expected return from the project etc (Chan, Saltelli, and Tarantola, 2000). Which factor is most sensitive for the project is measured by this analysis. The most sensitive factor can affect the investing decisions at most hence; this factor is required to be focused. This focuse is also required for ensuring that the most sensitive factor will fluctuate within the tolerable range, so that project must be profitable. Moreover, in this analysis two approaches are used by the decision makers one is the shock approach and another one is the margin of safety approach (Lenhart et al., 2002). In the shock approach each risk factor shocked at unfavorable direction at a specified percentage then percentage fall in net present value is estimated. For which risk factor percentage fall, in net present value is the highest will termed as a most sensitive risk factor. In the margin of safety approach, the net present value set as zero, and break-even value of each risk factor is calculated. Risk factor, whose margin of safety becomes lowest will term as a most sensitive risk factor. Additionally, this approach is having an assumption that all factors are independent (Helton et al., 2006). However in real world factors can be independent and can be not independent in some cases, like fixed cost and quantity are independent factors but price and quantity factor cannot be independent of each other. Scenario analysis in capital budgeting Scenario analysis is performed for evaluating outcomes of any internal and external phenomena on the project, like inflation is external phenomena but it effects the project investment decision, hence this analysis measures the effect of inflation on the profitability of the project. Scenario analysis shows the probable future of a project that can be different for reality hence it should not assumes an as accurate picture of future (Boundless, 2016). Most of the scenario analysis consists three scenarios first is the base case which is a most likely picture of future, second is the worst case it is the outcome from the pessimistic approach, and the last one is the best case it is the outcome of optimistic approach. In the scenario, analysis budgets play a most important role because scenario can only be seen by the budgets. In scenario analysis, through the help of budgets, one can make capital budgeting decisions like, where to invest, duration of investment, the amount of spending etc (Postma and Liebl, 2005). It is always recommended by the advisers that before any investment one should read every outcome from that investment. It can be concluded from this paragraph that scenario analysis is making a budget of future investment any make a study regarding each aspect of that investment. Moreover, there are so many advantages of scenario analysis. First one is it helps in escaping from non-profitable investments. This analysis helps in assessing the future situation of the project, which indicates all circumstances regarding the investment. It minimizes the risk factor through all projections regarding the future of the upcoming project (Clemons, 1995). It also forecasts regarding the return of investments. Additionally, scenario analysis is the result of many sensitivity analyses, the budget required for scenario analysis can derive only after performing sensitivity analysis. For making the budget as tends to the future one should know regarding the sensitivity of each factor and change in profitability on any change in specified factor and this information are the conclusion of sensitivity analysis. Capital asset pricing model The capital asset pricing model is a most used model in financial decision making. As per this model price of any asset is the present value of future cash flow which is discounted at a rate which is the addition of return from risk-free investments and risk premium. This model risk is an only systematic risk; this model does not consider unsystematic risk. As per this model, Expected return= Risk free return + (Return from market portfolio - Risk free return) * Beta of stock This model has some assumptions like, investors are rational, the market is perfectly competitive, all investors having homogenous expectations, there is the unlimited opportunity for selling and purchasing risk-free stocks and market is in equilibrium (Merton, 1973). Capital asset pricing model gives a concept of security market line; this line is derived from the capital asset pricing model. In security market line beta represents x-axis and expected return represented by y-axis. All truly priced stock lies on security market line. Capital Market line The capital market line is the extension of capital asset pricing theory, capital market line shows the additional return more over risk-free rate of return from a change in risk level. This line starts from the point where risk is zero i.e. return from risk-free stock and standard deviation represents x-axis and expected return represented by y-axis. This line shows the increase in risk and return by increasing risky stocks in the portfolio and compromising risk-free stocks from the portfolio (Sharpe, 1964) and provides a theoretical efficient market portfolio from which efficient frontier is drowned. This analysis helps the investors in investing decisions for achieving expected return for fair risk amount. The concept of capital allocation line also includes one more concept i.e. separation theorem, it is the process of allocating funds between risky and non-risky portfolios. Similarities between Capital asset pricing model and Capital Market line Capital asset pricing model and capital market line both models are used as the measure of risk and return. These both concepts establish a direct relationship between risk and return. Both models are used for making investing decision regarding the securities. In both model risk-free stocks play a significant role. Both models are used for calculating the market return. Differences between Capital asset pricing model and Capital Market line As per capital asset pricing model, there is an only systematic risk because this model assumes the investor is investing in market portfolio i.e. a most diversified portfolio of the market hence unsystematic risk of each stock canceled off. Capital market line considers both types of risk. Hence Capital market line uses sigma i.e. standard deviation as a measure of risk on the other hand capital asset pricing model uses beta as a measure of risk. Additionally, capital asset pricing model gives the estimate regarding the risk and return of the stock on the other hand capital market line gives the estimate regarding the risk and return of from the portfolio. Hence, capital asset pricing model used in decision making when an investor wants to invest in signal stock on the other hand capital market lines concept used by the investor when he is going to invest in the market portfolio. Moreover, capital asset pricing model gives the graph representation in way of security market line and capital market line gives its representation in for of capital market line itself. The capital market line is a representation of portfolio, on the other hand, security market line is a representation of a stock only. Furthermore, capital asset pricing model only considers market stocks but capital market line considers all risky and nonrisky assets. Although there are so many differences and similarity between two concepts but still, these are interconnected concepts of finance which help in security markets investing decision making. These models are one of most used models in the finance world. Conclusion This report concludes that in capital budgeting decision both scenario analysis and sensitivity analysis plays an important role, for appropriate results from capital budgeting one must perform these analysis. Through the use of many empirical supports, this report provides facts regarding the theories of capital asset pricing model and capital market line and similarities and differences in between these concepts. These concepts are used in decision making for investment in the security market. References Myers, S.C. (1512) Capital Asset Prices: A Theory Of Market Equilibrium Under Conditions Of Risk,The Journal of Finance, 29(1), pp. 125. doi: 10.1111/j.1540-6261.1974.tb00021.x. Chan, K., Saltelli, A. and Tarantola, S. (2000)Statistics and Computing, 10(3), pp. 187196. doi: 10.1023/a:1008950625967. Lenhart, T., Eckhardt, K., Fohrer, N. and Frede, H.. (2002) Comparison of two different approaches of sensitivity analysis,Physics and Chemistry of the Earth, Parts A/B/C, 27(9-10), pp. 645654. doi: 10.1016/s1474-7065(02)00049-9. Boundless (2016)Scenario analysis. Available at: https://www.boundless.com/finance/textbooks/boundless-finance-textbook/the-role-of-risk-in-capital-budgeting-12/scenario-and-simulation-assessments-99/scenario-analysis-427-7232/ (Accessed: 21 January 2017). Helton, J.C., Johnson, J.D., Sallaberry, C.J. and Storlie, C.B. (2006) Survey of sampling-based methods for uncertainty and sensitivity analysis,Reliability Engineering System Safety, 91(10-11), pp. 11751209. doi: 10.1016/j.ress.2005.11.017. Postma, T.J.B.M. and Liebl, F. (2005) How to improve scenario analysis as a strategic management tool?,Technological Forecasting and Social Change, 72(2), pp. 161173. doi: 10.1016/j.techfore.2003.11.005. Clemons, E.K. (1995) Using scenario analysis to manage the strategic risks of reengineering,Long Range Planning, 28(6), p. 123. doi: 10.1016/0024-6301(95)99966-4. Merton, R.C. (1973) An Intertemporal capital asset pricing model,Econometrica, 41(5), p. 867. doi: 10.2307/1913811. Sharpe, W.F. (1964) CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*,The Journal of Finance, 19(3), pp. 425442. doi: 10.1111/j.1540-6261.1964.tb02865.x. Sharpe, W.F., Alexander, G.J. and Bailey, J.V., 1999.Investments(Vol. 6). Upper Saddle River, NJ: Prentice-Hall.

Reading Reflection Essays

Reading Reflection Essays Reading Reflection Essay Reading Reflection Essay Reading Reflection Barbara Morales ENG125 – Introduction to Literature Professor Sarah Ross December 5, 2011 What peaked my interest in this story is the title â€Å"The Welcome Table†. In essence it should be titled â€Å"The Unwelcome Table† because of its profound examples of racism, poverty, and unfair judgment and treatment; in short, man’s inhumanity to man. This short story is a prime example of hypocrisy, intolerance, and unchristian like behavior while in God’s house. An old, black woman walked from her home to an all-white church to worship and was turned away with cruel words and physical ousting by two big, burly men. This ill treatment by the â€Å"Christians† did not deter or discourage her from praising the Lord. The entire congregation was guilty of the same crime because they all felt the same way. There was no judgment or correction of each other because they all thought alike. Even the spiritual leader of the church gave a poor, unforgiving example to the congregation and they all followed suit. She was not worthy to be seen past her shabby clothing, her work worn hands, her aged body, her tattered stained clothing, her greasy scarf, and her scuffed shoes. They did not see past her external, soiled trappings to her internal childlike, unconditional love of God’s righteousness, and her right to worship him. After being thrown out of church, she continued on her way until she saw Jesus walking towards her. He looked at her lovingly and said â€Å"follow me†. This proved that Jesus is everywhere not just in church. Alice Walker’s â€Å"The Welcome Table†, is written from an omniscient point of view because Alice Walker is not a character in the book but she did know and understand the feelings of the characters in the story (Clugston, 2010). Walker’s writing contained many examples of Similes and Metaphors. †¦Ã¢â‚¬  and he walked with sure even steps in her direction, as if he were walking on the sea†. â€Å" the skin ashen but durable, like the bark of old pines†. â€Å"There was a sad but joyful look to his face, like a candle was glowing behind it†. (Clugston, 2010). The use of irony is visible in the following excerpt from â€Å"The Welcome Table†: â€Å"The protection and promise of God’s impartial love† (Clugston 2010). Through the congregations’ negative behavior toward the old woman, the congregation proved that they did not practice what He preached. Alice Walker uses a biographical/historical approach in her writings. She had firsthand knowledge of the struggles of black people of the South who experienced the lack of basic human rights. They lived racism, segregation, sexism, poverty, and social and economic injustice. In her writings she wrote about her life experiences and the lack of equality and the prevalence of racial injustice. She brought awareness to people of other parts of the country to the plight of the poor and forgotten and stressed the need for radical change in our society. The Civil Rights March of the 60’s, led by Dr. Martin Luther King had a profound, life-changing impact on Alice Walker’s life which is evident in her writings. Her writings reflect her life as an educator, civil rights worker, advocate and mentor. She understood the importance of power in numbers. The organized protests of the people and by the people gave to the people the inalienable rights guaranteed to all under the Constitution of the United States of America. By their actions they strengthened their demands for equality for all in the land. Change was imminent. While collaborating through her efforts in registering and encouraging people to vote, she met and married a Jewish, Civil Rights Lawyer named Melvyn Leventhal. Her writings have surpassed color lines and made us aware that we are all members of the human race. There is no superior color and we are all members of the human race. Interestingly enough, the Alice Walker book â€Å"Color Purple† brought much criticism from many black male scholars. They felt she depicted an unfair image of black men. They took offense at her portrayal of black men who treated their wives as chattel and unworthy, second class citizens. In the end of her stories, women all got their retribution. She experienced negativity from many in society and sadly also within her own race and culture. References Clugston, W. R. , (2010). Journey Into Literature. San Diego, CA: Bridgepoint Education, Inc. Alice Walkers Love Stories. The Way Forward Is with a Broken Heart by Alice Walker. The Journal of Blacks in Higher Education, No. 31 (Spring, 2001), pp. 132-133.

90 Idioms About Tools

90 Idioms About Tools 90 Idioms About Tools 90 Idioms About Tools By Mark Nichol Hand tools have inspired a tool box full of metaphorical words and expressions. Here’s a list of many of those handy idioms. 1–5. angry/mad enough to chew nails/spit nails or ready to eat nails: enraged 6–7. another/final nail in the coffin: one of/the last of multiple factors that contribute to a failure 8–9. ax: a guitar or other instrument a musician might play while making a chopping motion (noun), or fire, reduce, remove, or terminate (verb) 10. ax to grind: grudge or motive 11. bed of nails: difficult or unpleasant situation 12. between the hammer and the anvil: facing a dilemma 13. bury the hatchet: end a dispute or feud 14. chisel (someone) out of: cheat to get something away from someone 15: chisel in: deceive or manipulate to get a share of something 16: chiseled: toned or well defined (as in facial features or body) 17. clamp down: impose controls or restrictions 18–19. coffin nail/coffin tack: a cigarette (or, rarely, a drink of liquor) 20. crowbar: insert or remove with force 21. drill: hit or propel with force 22. drill down: investigate or get to the root of 23. for want of a nail: abbreviation of a proverb illustrating that the lack of an insignificant part can have significant consequences for the whole 24–25. hammer (something) out: argue or negotiate toward an agreement, or play a piano loudly 26. hammer and tongs: with great determination and energy (as in â€Å"going at it hammer and tongs†) 27. hammer away: discuss something excessively or tediously 28. hammer home: press a point 29–30. hammer: a vehicle’s accelerator (noun), or do something with great force or persistence (verb, as in â€Å"I tried to hammer it into his thick skull†) 31. hard as nails: unfeeling or unsympathetic 32–33. has a screw loose/with a loose screw: is eccentric, mentally unbalanced, or strange/has eccentricities or is mentally unbalanced or strange 34. has one’s head screwed on right: is capable or sensible 35. hit the nail on the head: be accurate or right, or explain perceptively 36–37. nail: arrest or identify (or have sex with, but this sense is vulgar) 38. nail (one’s) colors to the mast: express opinion publicly (from the idea of attaching a flag to a ship’s mast to identify one’s national origin) 39. nail (something) down: agree on or accomplish something 40. nail (someone’s) ears back: severely scold someone 41–43. nail (someone)/nail (someone’s) hide to the wall, or nail (someone) to a cross: see â€Å"nail (someone’s) ears back† 44–45. nail (something) down: discover, or make certain or final or win decisively 46–49. nail Jell-O/jelly to a tree/the wall: try something futile (akin to â€Å"herd cats†) 50–51. on the nail: in full (as in â€Å"pay on the nail†), or under discussion (both British English) 52–53. put a wrench/monkey wrench into: disrupt or sabotage (the British English term is spanner) 54. put a nail in the coffin of (something): cause something to end or stop 55. put the hammer down: accelerate a vehicle 56–57. put/tighten the screws on (someone): pressure or threaten someone, or make something more difficult for someone 58. saw away at: move one’s arms as if in a sawing motion 59. saw wood: snore loudly 60. sawed off: short (said of a diminutive person or a shotgun with part of the barrel removed) 61–64. screw: cheat or deceive, or a jailer (also, copulate, or someone to copulate with, but these senses are vulgar) 65–66. screw around/off: waste time or act aimlessly 67–70. screw (someone) around/screw around with (someone): bother or harass (â€Å"screw around with (someone)† also means â€Å"copulate with† or â€Å"be promiscuous,† but these senses are vulgar) 71. screw around with (something): fiddle or play with 72. screw (one’s) courage to the sticking place: have courage or resolution 73. screw (someone) out of: cheat or deceive to deprive someone of something 74–75. screw (one) over: betray, or see â€Å"nail (one’s) ears back† 76. screw the pooch: make a significant mistake (vulgar) 77. screw up: make a mistake 78. screw up (one’s) courage: force (oneself) to be brave 79. screw up (one’s) face: make an unpleasant expression 80. screwed: in trouble 81–82. screwed up: made a mistake (verb phrase), or flawed or ruined (adjective) 83. take a hammering: suffer a severe attack or loss 84. tool: an unlikeable or easily deceived person 85. tool around: drive quickly but aimlessly 86. tools of the trade: whatever is associated with, or required to do, a job 87. tough as nails: determined 88. turn of the screw: an action that worsens a bad situation 89. under the hammer: for sale (alluding to an auctioneer’s hammer) 90. wrench: mechanic Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:Yours faithfully or Yours sincerely?34 Writing Tips That Will Make You a Better WriterHow to Address Your Elders, Your Doctor, Young Children... and Your CEO

Violence in Nursing Research Paper Example | Topics and Well Written Essays - 1500 words

Violence in Nursing - Research Paper Example While this patient received a five-year sentence after successful prosecution in a court of law, many more such cases go unpunished, and there is continual mental and physical abuse of nurses by their patients each passing day in various medical facilities. In effect, nurses have put up with abusive behavior, and they continue to tolerate this issue on a daily basis. However, it is essential to avoid the current state of affairs to ensure that nurses played their roles and responsibilities in an enabling environment, which ensures their safety as they provide quality care. Conversely, the failure to ensure a safe environment for nurses will have adverse effects on the quality of care provided. Therefore, it is the responsibility of every stakeholder to ensure nurses' safety in the workplace. It is important to point out that there are ongoing actions to put in place measures meant to protect and punish violence in nursing. However, these measures prove not to be effective. Case in po int, a Maryland bill titled, HB 1099 - Second Degree Assault - Health Care Practitioner, sought to protect health care providers in their workplace during their line of duty. The bill, which healthcare providers were instrumental in its push, would apply to second-degree assault on a practitioner while asking for the raise in the penalty from a misdemeanor to an act of felony. Unfortunately, the judiciary committee in the house rejected the hearing of the bill. In effect, this calls for action to ensure a total protection of the nurses. Introduction The world considers health as the most important aspect that guides the development agenda in a nation. In effect, healthcare becomes the most important sector with governments of the world placing the highest priority in terms of resources and policies on healthcare. Based on the foregoing, the role of the nurse is a crucial one in the society and all over the world. In this regard, nurses play the crucial roles of educating their patie nts publicly and privately; advocacy roles essential for promoting health; rehabilitating patients, and most importantly playing the primary role of giving their patients’ the required care and support during treatment. However, it is crucial to ensure that the environment whereby the nurses operated was safe in order for them to provide quality care. Conversely, an environment that is not safe will have adverse effects on the quality of care nurses provided with the society suffering. Safety in healthcare, as in any other profession, is the most fundamental aspect in order to realize and meet the expected standards of care. In this regard, it is crucial to point out that the failure to have stiff penalties against violence impacts the role of nurses and effectively affects the quality of care. Nevertheless, aggressive and violent behavior from patients, their families, and their friends has become the norm rather than the exception on American hospitals and in the world. In effect, this underlines the importance of legislation and policies meant to penalize these incidents of violence against our nurses in hospital since they leave nurses in a state of negative psychological and emotional responses, which affect their productivity. In effect, this review of the literature seeks to investigate the effects of violence in nursing on the society.

The Social Responsibility of Business Essay Example | Topics and Well Written Essays - 750 words

The Social Responsibility of Business - Essay Example The objective of any corporation is to legally maximize the returns on investment so that its shareholders primarily can benefit. He maintains that the responsibility of a corporate executive who is employed by the owners of the business is to run the business profitably in accordance with the law. However, he might have other responsibilities as well, such as the responsibility to devote a part of his income to charity, or to have a good behaviour towards his family, or people, in general. These responsibilities, however, are not of the business but the corporate executive's responsibilities. Conclusion In a nutshell, it can be stated that even though a business is an artificial personality and can be claimed to have no social obligations, it should be operated in such as a way so as to protect the interests of its stakeholders, as they have contributed resources in the business and are also directly affected by the decisions taken with regard to business matters. All business decisions should be taken without the intention or plan to inflict harm on any member of the society. The environment or the ecological concerns should be paid extra attention to and activities of the business should not lead to the exploitation of any stakeholder. It is natural that a business is run to maximize its profits or to get the highest return for its investment but this behavior should not be pursued at the expense of the interests of the society and the community as a whole as it may even prove to be unprofitable for the business in the later years. Any social obligation should not be discarded with the view that it is for the government to take up the welfare of society and... It can be stated that even though a business is an artificial personality and can be claimed to have no social obligations, it should be operated in such as a way so as to protect the interests of its stakeholders, as they have contributed resources in the business and are also directly affected by the decisions taken with regard to business matters. All business decisions should be taken without the intention or plan to inflict harm on any member of the society. The environment or the ecological concerns should be paid extra attention to. It is natural that a business is run to maximize its profits or to get the highest return for its investment, but this behavior should not be pursued at the expense of the interests of the society and the community as a whole as it may even prove to be unprofitable for the business in the later years. Any social obligation should not be discarded with the view that it is for the government to take up the welfare of society and environment. Behaving and operating in an environment friendly way will only ensure a business’s longevity, increased customer appreciation and a particular social aim will so be achieved. The companies should exercise their power in such a way so that none of the stakeholders come to harm and the objectives of the business is also achieved. It is concluded that the companies are responsible for behaving uprightly so that junior managers or lower-level workers are influenced and motivated to do the same and the moral values of an organization is upheld.

Looking At The Communication Problems Of Databases Information Technology Essay

Looking At The Communication Problems Of Databases Information Technology Essay List the problems you experienced when you carried out a recent assignment. Try to put these problems into some order of magnitude. For each problem consider whether there was some way in which the problem could have been reduced by better organisation and planning by yourself. Client contacts always could not save on database. It cause serious error and network problems. Sometime client information cannot be updated. We need network administrators that can configuring and maintaining the server to make sure the process are always smooth. Too many man power jobs. Need to manually search information with paper by one by one. We need a database administrator to import all the information into the database. Therefore, staff can search information easily by just searching the keywords. Communication does not go well between the staff. Sometimes staff need to share something interesting or share their knowledge, they just cannot speak out with sudden. A communication application is needed. We need a website administrator. They need to ensuring web servers are always online and maintain the website. With the web servers, staff can simply login to the forum and share their thought. 2. Identify the main types of personnel employed in an ICT department. For each stage of a typical ICT development project, list the types of personnel who are likely to be involved. Project Manager They able communicate with other project members. They manage multiple information and technology projects. They can lead the team to planning and developing. They also need to keep documentation from the projects. Webmaster They need to ensure web servers are always online and maintaining the website. They can create website and responsible for the content, quality and style of the website. Database Administrator They responsible to implements and maintain the database server. They also need to improve the performance and capacity issues so that there is no duplicate record in the database. Always make sure the accuracy and security of data are maintained. Network and Security Administrator Their duties are prevent and monitor unauthorized access. Those misused, illegal action, modification through the network will get the deny request. They develop and maintain IT security solutions including firewalls and antivirus. IT Technician They install and able to maintain multi-platform network computer environments. They must have strong understand when face the problem and able to solve it. They also investigate, troubleshoot and resolve end-user problems. A public library is considering the implementation of a computer-based system to help administer book loans at libraries. Identify the stakeholders in such a project. What might be the objectives of such a project and how might the success of the project be measured in practical terms? There are few stakeholders who involved are project manager, programmers, database administrator, and librarian. The objective to implement this computer-based system is make the librarian can use the system easier, can search borrower information easier with a short time, and save paper work, all just key in to the computer and save it. By a practical test, programmers should probably do their best and there is error free from the system. While librarian using the system, if they feel comfortable and the system is user-friendly, then they will feel happy with it. That how is success of the project. 4. A software house has developed a customised order processing system for a client. You are an employee of the software house that has been asked to organize a training course for the end-users of the system. At present, a user handbook has been produced, but no specific training material. A plan is now needed for the project which will set up the delivery of the training courses. The project can be assumed to have been completed when the first training course starts. Among the things that will need to be considered are the following: Training materials will need to be designed and created; A timetable will need to be drafted and agreed; Date(s) for the course will need to be arranged; The people attending the course will need to be identified and notified; Rooms and computer facilities for the course will need to be provided for. Identify the main stakeholders for this project; Draw up a statement of the objectives for this project; For the objectives, identify the measures of effectiveness; For each objective, identify relevant sub-objectives or goals and who would be responsible for each of them Human Resource Manager, Project Manager, Software Developer and Instructor Instructor will teach the user how to use the system and understand how the system works. Instructor need to make sure every user know each of the steps of using the system. Software developer need to create a user-friendly system so that user would not feel complex or sophisticated when using the system. User would feel satisfied if they manage to fully understand the whole system. Users able to understand all the system will be achieved, if the following goals are achieved, Specific, all the training must be well-defined. Measurable, try to get customer satisfaction. Achievable, instructor able to give user to fully understand the system or system is user-friendly so that user would not feel frustrated when using the system. Relevant, the objective that be stated should relate to purpose of the project. Time constrained, instructor needed to set a timeline when should be start and when should be end. Therefore, there is no dragging or delay for the training course. 5. The idea behind a project is that students should be able to access details of available placements via an intranet. When there is a placement opportunity for which they wish to be considered, they would be able to apply for it electronically. This would cause a copy of their CV, which would also be held on-line to be sent to the potential employer. Details of interviews and placement offers would all be sent by e-mail. While some human intervention would be needed, the process would be automated as far as possible. You are required to produce a business case report for such an application, which justifies the potential development by showing that the values of its potential benefits outweigh its development and operational costs. Create lists of the main benefits and costs for the project. You do not have to specify actual figures, just the headings under which they would appear. Cost Salary of Manager : RM4000 Salary of Programmer : RM2500 Development cost : RM500-RM1000 Deployment cost : RM2500-RM3000 To build up a system and paying the wages for the employee, approximately total need RM10, 000 that needed to be invested. Benefit Quantifiable: With the development, deployment and operation cost, programmers able to create a good quantity system. Non-quantifiable: In order to let the student use the system, we must satisfy the student need. So, as a conclusion, although costing is more than benefit, but it is worth to do so, this is because we could create a good and useful system, make student work easier and satisfy student need. That is worth for it by everything.

Management employee relations

In today’s working environment, one of the most critical responsibilities that management holds is to ensure that employees’ performance is both effectively and efficiently carried out to the best of their abilities (Bray, Deery, Walsh and Waring, 2005). Nowadays, there is the view that the practices and policies that management holds within organizations in Australia are used against the employees, for instance the decrease in wages and conditions, through means of the Governments Industrial Relation laws. To explore this issue further, this essay will examine whether there is a link between HR strategies and practices and the Australian Industrial Relations legislation (work choices). In doing this, the link between ER regulation and HR policy and practices will be made by focusing on how HR strategies are formed and developed within organizations. Seeing that the HR strategies used, subsequently shape and form the working environment, this allows management to practice the types of employment relations that are promoted under work- choices, for example, AWAs and unfair dismissal rules, more closely or on the contrary to be driven away from them. As concluded by Bray, Deery, Walsh & Waring (2005), Management implements different managerial strategies depending on the organizations labor market position, the skills and also the expectations of different groups of workers to control the working performance of employees. There are two strategies that were introduced by Friedman (1977b), which were used as a guide to employers and managing bodies of many organizations. The strategies that were implemented by Friedman included direct control and responsibility autonomy. Direct control deals with non co-workers and mostly relies on management controlling their employees with tight supervision. Furthermore, employers seem to simply advocate on allowing for the decrease in employees say and discretion. Issues related to the strategy of direct control include numerical flexibility and minimal training and development programs for employees to participate in. Responsibility autonomy, on the other hand, deals with co-workers. This strategy allows for workers to adapt to different situations as they change in ways that are relatively in favor of the organization by way of encouragement and support from managers. This can be seen as being somewhat opposite to direct control as employees are given authority and responsibility to make decisions by management. Matters concerning the strategy of responsibility autonomy include employment security, high wages and also having great opportunities for training and development. Discussion In Australia, political and economic developments internal to the country intermarried with globalization have resulted in deregulation of the previous institution-based system of IR (industrial relations). As a consequence, the labor force has now become more casualised, highly qualified and diverse than at any previous point in history of Australian industrial relations[1]. Amazing though, is that the strategies used by managing bodies to achieve their objectives differ throughout all organizations and these approaches, in turn, have an impact on organizational structures and the management of employees. Various approaches can be adopted to obtain a competitive advantage in the marketplace (Boreham and Hall, 1996). Greater effort is devoted to performance and to explore new forms of supple work arrangements and furthermore increase adoption of computerized human resources management systems. In response to this, human resource practitioners have placed great emphasis on siding HR (Human Resource) strategy with corporate strategy at the same time devoting more effort to performance and exploration of new forms of flexible work arrangements. A study conducted in 2005, (Barbara H. et al. 2005) to determine best employers in Australia indicated that best employing organizations had a typical characteristic of demonstrating high level of employee engagement and a powerful alignment of the workforce with the organization’s brand and strategy. In addition, best employers were different with others in which they delivered on promises and contractual terms. Employees in such an organization with a strategy geared towards worker satisfaction showed higher level of satisfaction. Hence a good organization strategy produces a better management and effective service delivery. Through this evolution, a perfect senior leadership/ management is developed. In such cases employees may be willing to enter into workplace agreements without any undue pressure or duress. It is forthrightly imperative then that the most valuable weapon an industry can have is a strategy which ensures fairness in terms of bargaining grounds, arrangements on working conditions and the terms that rule the contract. Effects of employers using governments to drive down employee wages and conditions Employers have deeply taken advantage of the John Howard’s AWA to throw a lethal poison in the industrial relations and end up undermining fundamental rights of the employee through destabilization of the bargaining power, cut-down on the employee wages, cut on work conditions and rid fairness and decency from the workplaces. With the outcry from the public, these policies do deserve nothing other than rejection, (also Verona Burgess, 8 April 2005).[2] Another amazing issue is that through the adoption of the governments’ strategies, the companies have gotten rid of collective bargaining or agreements, encouraged statutory individual contracts hence leading to unfair bargaining within the setup of the working environment. This of course discourages hard work and harmony at the workplace (Buchanan & Chris, June 2000). However, recent developments indicate possible abolishment of the Australian Workplace Agreements as they have been seen as an attempt to undermine the collective employee bargaining power, (Harley & McGraw 2003). Donaldson, (2006), observes that workplace relations in Australia have tremendously changed over the past five years and he reiterates that this is due to political changes in administration. He notes that these changes led to sweeping away of government’s workplace relations reforms. In the same light, changes to iniquitous dismissal laws could not pass but rather were blocked several times.   In support of this, the research survey carried out by McGraw and Harley (2003) reveals a significant difference in IR-HR practice between overseas-owned workplaces and Australian based ones. In order to strike a balance between IR strategy and other workplace policies, one powerful tool which is of strategic importance is effective management. Conversely, Australia is a highly competitive labor market and thus it should take organizations whatever cost to attract and retain highly valued employees. The surprise here is that there has been little achievement in aligning the HR strategies with workplace policies. This is because while companies and business organizations will want to develop a strategy for building a combination of motivational factors to attract the best out of the market, impediments still hinder recognition of the importance IR strategies. Therefore substantial challenges still remain despite the fact that some achievements have been made. Major impediment is the dilemma which arises from the fact that it is the very organizations which apart from attracting the full potential of the workforce take advantage of existing government legislation to thwart the very goal they should be geared towards achieving- Dietz and Boselie, (2005). Human Resource Management Practices in Australia Because of the prevailing labor market issues in some parts of the economy in Australia, for example in the tourism industry, (Boon & Dietz 2005), which are prevalently affected by seasonal guest market thus creating quite conscious management strategies and high employee turnover due to casualization of employees to achieve flexibility and short term costs or even as a show of desperation.   Some large organizations in Australia have found it a wise move to internationalize their employees by rotating them through their regional properties so that these employees are well exposed to various standards. This happens more so in the tourism and hospitality industry in large hotel chains like Mandarin and Hilton- (also see Nankervis, Alan, 2000)[3] Point of Conflict between AWA and Industrial Relations Policies Foremost to the point of discussion as we have seen above, AWAs are viewed by the Australian Union of Certified Agreements as effort to undermine the collective bargaining power of trade unions the concession for better pay and improved working conditions on behalf of their members, (Buchanan & Briggs, 6 June 2000)[4]. This is a critical point of divergence between the views of the two sides though some companies promise some extra consideration in terms of pay for employees who sign the AWA. While the companies do that, most unions caution their members against signing them. They maintain that though the employee might sign the Agreement, such ordinary worker has no (or little if any) bargaining power by herself or himself to effectively stage a bargain for the contract, hence there is intrinsically unequal grounds for the contract between the employer and employee. Very important as well is that it is universally believed that AWAs try to entrench inequality between employees and their employers as far as working conditions and pay are concerned. This is criticized because the main aim of the commercial law and even common law is to provide for equality of bargaining power and fairness. Therefore, it is thought, the AWAs are as good as abolished. At this point therefore AWAs tend to conflict with the commercial law and even common law of contracts. This is because its mode of operation neither goes in line with the expectations of the common law nor those of the commercial law. Sympathizers of AWAs contend that these agreements give flexibility to the employees and their employers when it reaches time to set wages, terms and conditions of work hence enabling them to agree on agreements which can suit their individual preferences and workplaces. Conclusion As much as AWAs may provide the flexibility to the employer and the employee when setting the agreements on contracts or terms and conditions, there is still inconsistency with the common law and also with employer HRM strategy and practice which provide basis for fair and level bargaining grounds. This inconsistency clearly reveals their inability to give both employee and the employer level bargaining grounds to enjoy the benefits that a fairly executed work contract should have. This flaw therefore renders them of little or no help to the harmonious development of any meaningful relation between employees and the management. 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