...several definitions of behavioural finance exist, there is considerable agreement between them. According to Lintner, “Behavioural finance is the study of how humans interpret and act on information to make informed investment decisions.” Olsen opines that ‘behavioural finance does not try to define ‘rational’ behaviour or label decision making as biased or faulty; it seeks to understand and predict systematic financial market implications of psychological decision processes.’ It should be noted that no unified theory of behavioural finance exists at this time. Behavioural finance is based on research of human and social recognition and emotional tolerance studies to identify and understand incoming economic decisions. Behaviour finance examines recognition and emotional factors influence on the market changes and concentrates on the limited human rationality, explains the psychology effect on the financial activities and argues that financial phenomena can be better explained due to the fact that financial market participants are not rational and their decisions are...
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...1. What are the emerging challenges for the Biscuit Company in their marketplace? What organisational factors have contributed to this developing situation? What needs to change at the Biscuit Company if they are to remain successful? Justify your answer in the context of relevant theory / material discussed in class. (625 words approximately) The biscuit company faces both internal and external challenges to their marketplace. With the advent of global markets and global organisation it is no longer safe for companies to remain in the past. They need to be agile and be able to react to change quickly. A key ingredient in having this ability is based on the culture of the organisation. The cultural web model (Johnson, Whittington, Scholes, 2012) is a useful model to examine how the culture of the company contributes to the internal forces resisting the external pressures for change. The culture web allows us to examine each of the different levers that can be used to help bring about a cultural change or new paradigm within the organisation. A summary of the model is presented in Figure 1. Figure 1: Cultural web model Taking each of these subsystems in turn a paradigm can be defined that gives insight into the culture of the company and what companies values stand for. Symbols The paperclip example of Eastern focusing on the low value item is symbol of the importance of cost. The historical photos on the walls such as the ‘old mill’ and retained old...
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...Subjects for study Six subjects and Seven Papers of study in IPCC are – Group I Paper 1: Accounting (100 marks) Paper 2: Law, Ethics and Communication Part I: Law (60 marks) Business Laws (30 marks) Company Law (30 marks) Part II: Business Ethics (20 marks) Part III: Business Communication (20 marks) Paper 3: Cost Accounting and Financial Management Part I: Cost Accounting (50 marks) Part II: Financial Management (50 marks) Paper 4: Taxation Part I: Income-tax (50 marks) Part II: Service Tax (25 marks) and VAT (25 marks) Group II Paper 5: Advanced Accounting (100 marks) Paper 6: Auditing and Assurance (100 marks) Paper 7: Information Technology and Strategic Management Section A: Information Technology (50 marks) Section B: Strategic Management (50 marks) The level of knowledge expected of students in the above subjects is ‘working knowledge’. INTEGRATED PROFESSIONAL COMPETENCE COURSE (IPCC) Syllabus GROUP I OF IPCC/ ACCOUNTING TECHNICIAN COURSE (ATC) Paper 1: Accounting (One paper – three hours – 100 marks) Level of Knowledge: Working Knowledge Objectives: (a) (b) (c) (d) To lay a foundation for the preparation and presentation of financial statements; To gain working knowledge of the principles and procedures of accounting and their application to different practical situations; To gain the ability to solve simple problems and cases relating to sole proprietorship, partnership and companies; and To familiarize students with the fundamentals of computerized system of accounting...
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...Guskey (2001) asks that we recognise that professional development is a purposeful and intentional process, which is designed to evoke positive change within organisations. In order to maintain an effective and efficient workforce and to ensure that managers’ skills reflect this commitment to professional development then it is imperative that we, as managers, set personal and professional targets to ensure that our skills accurately reflect organisational goals and direction. Section 1: Demonstrate how you would assess personal and professional skills required to achieve strategic goals There exists a plethora of models to evaluate personal and professional skills but if we are to construct the most accurate and objective overview of our own development needs we must ensure that we do not interpret results in isolation; rather that we utilise a range of self evaluation models to illustrate a collective and more accurate profile of our learning requirements. By using a combination of Humphreys (2005) Strengths, Weaknesses, Opportunities and Threats (SWOT) and Aguilar’s (1967) Political, Economic, Socio-cultural, Technological (PEST)...
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...ASB-3101 HUMAN RESOURCE MANAGEMENT Credits: 10 Contact hours: 23 Semester: 1 Pre-requisites: ASB-2104 Module organiser: Sally Sambrook Note: This module is available through the medium of Welsh (ACB-3101). Aims: To examine issues and developments in the field of contemporary human resource management (HRM). To develop an understanding of the complex issues facing human resource (HR) specialists and line managers in meeting their responsibilities for selecting, deploying, training, appraising, rewarding, relating to and retaining human resources. Learning Outcomes: On completing the module, students are expected to be able to: • Explain the contribution of the HR function to corporate strategy; • Discuss the processes of recruitment, assessment and selection; • Outline activities involved in developing human resources and facilitating learning; • Explain the link between rewards, motivation and performance; • Critically evaluate the changing employment relationship, assessing the role of trade unions and other forms of employee involvement. Module Content: • History of the HR function, theories and models of HRM; • The roles and responsibilities of stakeholders in HRM; • The changing nature of work, managing diversity, technology and flexibility; • Human resourcing: recruitment and selection, human resource planning; • Reward and performance management; • Employee relations, employment legislation...
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...HYPOTHESIS Andrew W. Lo To appear in L. Blume and S. Durlauf, The New Palgrave: A Dictionary of Economics, Second Edition, 2007. New York: Palgrave McMillan. The efficient markets hypothesis (EMH) maintains that market prices fully reflect all available information. Developed independently by Paul A. Samuelson and Eugene F. Fama in the 1960s, this idea has been applied extensively to theoretical models and empirical studies of financial securities prices, generating considerable controversy as well as fundamental insights into the price-discovery process. The most enduring critique comes from psychologists and behavioural economists who argue that the EMH is based on counterfactual assumptions regarding human behaviour, that is, rationality. Recent advances in evolutionary psychology and the cognitive neurosciences may be able to reconcile the EMH with behavioural anomalies. There is an old joke, widely told among economists, about an economist strolling down the street with a companion. They come upon a $100 bill lying on the ground, and as the companion reaches down to pick it up, the economist says, ‘Don’t bother – if it were a genuine $100 bill, someone would have already picked it up’. This humorous example of economic logic gone awry is a fairly accurate rendition of the efficient markets hypothesis (EMH), one of the most hotly contested propositions in all the social sciences. It is disarmingly simple to state, has far-reaching consequences for academic theories and...
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...2 and 3ORGANISATION AND MANAGEMENT 20 DECISIONAL ROLES Decisional roles involve the making of strategic organisational decisions on the basis of the manager's status and authority, and access to information. (i) Entrepreneur As entrepreneurs, managers plan and initiate projects to bring about change and innovation to improve the performance of their unit and organisation. (ii) Disturbance handler As a disturbance handler role, the manager takes corrective action in response to previously unforeseen problems such as strikes, financial difficulties or change in government policy. In such situations, managers can, for instance, devise a strategy and set up committees that deal with disturbances and crises. (iii)Resource allocator As resource allocators, managers are responsible for the distribution of the organisation's resources such as money, time, equipment, staff and materials among organisational members. (iv) Negotiator The negotiator role relates to participation in negotiation activities with outside organisations (for example when negotiating a contract with suppliers) or with individuals working for the same organisation (for instance when bargaining about working terms and conditions with the trade union). Negotiation plays an important part of the manager's job because of his/her authority, responsibility and knowledge of information. 21 Evaluation of Mintzberg's role approach Mintzberg acknowledged that his categorisation of the ten roles...
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...Marketing Plan Template 1. Executive Summary (Done Last) Keep in mind that not everyone will read every page of your marketing plan. Your executive summary should highlight the most important parts. It’s an overview of your marketing plan. As you go through the process of writing your plan you will refine your ideas and develop new strategies. By writing the executive summary at the very last you will be able to provide a holistic overview of your marketing plan. It is recommended that you include the following points in your executive summary: • Brief description of products or services • Define target market • Competitive advantage You need to tailor your offer so that your target customers believe that it is superior to what is offered by your competition - this is your competitive advantage. Competitive advantage can come from any element of your marketing mix - creating a superior product, more attractive designs, better service, more effective distribution or better advertising. Competitive advantage comes down to understanding what your customer values, delivering it and doing it better than your competitor. • Positioning statement Positioning is the way your product or service is defined by consumers. For example a consumer would describe a Ferrari as a prestige, high performance sports car. This perception by the consumer is due to a strategy developed by Ferrari to position itself in the prestige segment of the car market with...
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...delivery. Guskey (2001) asks that we recognise that professional development is a purposeful and intentional process, which is designed to evoke positive change within organisations. In order to maintain an effective and efficient workforce and to ensure that managers’ skills reflect this commitment to professional development then it is imperative that we, as managers, set personal and professional targets to ensure that our skills accurately reflect organisational goals and direction. Section 1: Demonstrate how you would assess personal and professional skills required to achieve strategic goals There exists a plethora of models to evaluate personal and professional skills but if we are to construct the most accurate and objective overview of our own...
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...PORTFOLIO BUILDER BSBINN601A Manage Organisational Change Candidate Name: | | Company: | | Date of submission: | | Name of Assessor: | | RTO: | Management Consultancy International | Project Overview Part 1 In this project you will be required to work as a senior human resources manager within a fictitious organisation called the International Hotel Group. (If conducting this project in your workplace or in your college or training organisation, work with the relevant staff from that team). You will be required to identify the need for a strategic change and a major operational change and develop, implement and review the change management strategy. In this task you will be required to identify the need for strategic and operational change. * You will need to access information about your organisation’s current strategic directions. * If working in a simulated situation you will be provided with information and a scenario. a) Write a list of possible needs for change. To do this you will need to do some or all of the following: * Review organisation’s strategic plans * Review relevant policies and procedures * Consider any environmental events or trends * Review operational procedures * Consult relevant specialists and experts b) Consult with relevant managers to discuss and prioritise identified change requirements. Prepare a report that outlines the outcomes of this meeting. (If completing this activity...
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...The purpose of this essay is to discuss, within a case study context, the impact of severe mental health problems on a client whose care I have been involved in and, to discuss how the condition has affected the person, their informal carers, family and supporters. This essay will aim to provide an explanation of severe mental illness as well as an overview of the chosen client’s background, diagnosis and the impact this has had on them and those involved in their care. To protect the identity of the client and to respect the principle of confidentiality, a pseudonym has been used throughout this essay (NMC, 2008). The reason for choosing John for my case study is that having worked with him for approximately 2 years now, I feel I have already developed a therapeutic relationship with him. Having this Therapeutic relationship means there is an ongoing rapport resulting in John feeling at ease in disclosing personal information.. There is no universal understanding of what a severe mental health illness is it tends to be seen differently by the person experiencing it, their family and doctors. The term can refer to an illness where psychosis occurs, e.g. Schizophrenia; it also includes mood disorders, e.g. manic depression, schizoaffective disorder and clinical depression, and often referred to severe mental illness Psychosis describes the loss of reality a person experiences. (Rethink, 2009). This case study is based around a 24-year-old man who shall be referred to as John...
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...UNDERGRADUATE CURRICULA AND FACULTY 2007 – 2011 Proposed 2009 – 2013 2 Requirements for the BBA degree: Foundation Courses 40-41 Credits Core Courses 45 Credits Departmental Requirement 24 Credits Minor 15 Credits Total variable requirement for Graduation 124-125 Credits Foundation Courses Communication Skills ENG 101 ENG 102 ENG 105* ENG 106 ENG 202 Listening and Speaking Skills English Reading Skills Business English Advanced English Skills Introduction to English Literature 40-41 Credits 9 3 3 3 3 3 * Prerequisite ENG 101 & 102 Note: students not exempted from ENG 101 and ENG 102 will have to take ENG 101, ENG 102 and ENG 105. Note: students exempted from ENG 101 and ENG 102 will have to take ENG 105, ENG 106, ENG 202 Computer Skills CIS 101* CSC 101** Fundamentals of Computer System Introduction to Computer Science 3 3 3 * For students without basic knowledge of computer **For students with basic knowledge of computer & mandatory for students with Major in subjects offered from the SECS Numeracy MAT 100* MAT 210* Basic University Mathematics 1 Basic University Mathematics 2 6 3 3 3 *MAT 100 and MAT 210 mandatory for SLAS majors(English, Media & Communication, Anthropology) other than Sociology MAT 101* MAT 211* MAT 102* MAT 212* Intermediate University Mathematics II Probability and Statistics Introduction to Linear Algebra & Calculus Probability & Statistics for Sc. & Engr. 3 3 3 3 **MAT 101and MAT 211 mandatory for...
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...Marketing Plan of “Fast & Fresh - 24 hours – Hot Dog” Vending Machines in Barcelona Introduction and Overview: A normal vending machine only offers cold snacks or beverages, which is nothing outstanding. In contrast the “Fast and Fresh 24 h Hot Dog” uses a State-of-the-art microprocessor technology to control all function, as a result the vending machine automatically cooks a fresh hot dog in less than 1 minutes. This service will be provided 24 h 7 days per week in the central of Barcelona in areas where human traffic is constant. The Hot dog Gourmet will be best suited next to night clubs, as restaurant and other places are closed during the night and there are always hungry people. Brand identity: The used logo easy identifies the strategy; “24 h” recognize every customer that hot dogs are always available. The words “fast & fresh” describe the short waiting times and the high standard of quality. The buns and sausages come from well known and established food manufactures in Spain. The logos of these manufactures are also found on the vending machines to create trust. Business model: Cost of machine (one-off payment) ( low fix cost ( niche strategy ( Benefits ( Revenue ( Profit Swot analysis: According to Evans, N. et al, 2003 we analysed the Strengths, Weakness, Opportunities and Threats: |INTERNAL |STRENGTHS |WEAKNESS | | |- Strategic location...
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...UNDERGRADUATE REGULATIONS & SYLLABUSES 2014 - 2015 THE FACULTY OF SOCIAL SCIENCES TABLE OF CONTENTS MESSAGE FROM THE DEAN ............................................................. 3 UNDERGRADUATE PROGRAMMES ................................................ 4 ACADEMIC CALENDAR 2014-2015 ................................................ 5 DEFINITIONS ...................................................................................... 13 GENERAL INFORMATION & REGULATIONS .............................. 14 General Regulations for Bachelor of Science Degrees 14 Special Regulations for Degrees in Hospitality and Tourism Management........................................................... 27 Franchise Agreements .......................................................... 27 EVENING UNIVERSITY -GENERAL INFORMATION & REGULATIONS ................................................................................... 28 General Regulations for Bachelor of Science Degrees 28 General Regulations for Diploma Programmes ............ 36 General Regulations for Certificate Programmes ......... 37 STUDENT PRIZES .............................................................................. 38 CODE OF CONDUCT ........................................................................ 39 UNIVERSITY REGULATIONS ON PLAGIARISM .......................... 40 THE ACADEMIC SUPPORT/ DISABILITIES LIAISON UNIT (ASDLU) ..............................................................................................
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...Week 2: This week talked about the accounting environment in Australia. At the beginning of the lecture, we were asked to complete a questionnaire. The questionnaire contained the definitions of accounting terms. Introduction to course outline, trying to understand how it relates to accounting degree as a whole. The way to develop an understanding is to focus on the suitability of current accounting practices and how to develop improved accounting practices where current practices are unsuitable for changing business circumstances. This allows me to look at the course as a whole. Team formation with group of 4 led to some problems as two members had a personality clash and had a fight about the first task which included choosing photos out of a magazine that represented accounting. The group worked the problem out however it just shows the pros and cons of team work as sometimes personalities that clash each other may erase any benefits of team work. The vital issue this week is why regulation is needed and I hope to reflect about this in the weeks to come Other issues is who regulates and why one framework has begun to dominate world wide Why were certain regulations introduced such as “Intangible assets” Not reliable or timely, can’t be measured accurately. Problem is it undervalues organisation. Found the topic beneficial as a whole Week 3: Watched the movie “Company Men”, which reflects the operation of a financial company during the global financial crisis...
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