...Administration is interpreting policies and making them effective. Leadership, however, includes establishing a clear vision, communicating the vision to others and persuading them to follow you. The purpose of leadership in administration is to produce and sustain a business culture, keep members of the organization knowledgeable, and promote progressive change within the organization (Daft, 2008). Leadership in administration is essential because it creates a general culture that everyone shares and is a part of. The absence of the clear structure that administrative leadership provides will result in a lack of clarity and different teams of people following different directions. In order to properly demonstrate my strategy, I will utilize the five practices of exemplary leadership, model the way, inspire a shared vision, challenge the process, enable others to act and encourage the heart. In order to improve our current structure, we must first create a culture that models the vision of the organization. Creating a culture means that specific values and guidelines will be practiced (Kouzes & Posner, 2007). Personal traits such as integrity, honesty and trust worthiness are traits that illustrate effective leadership. More significant than personal traits are visible behaviors. These behaviors include displaying concern for others while maintaining dignity and respect, listening, being attentive and accepting of questions and concerns, as well as making impartial decisions...
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...both involved with the financial aspect of a business or organization, the managers and employees in these departments deal with finances in completely different ways. Accounting deals mainly with preparing and examining financial records and ensuring their accuracy, making sure taxes are paid on time and properly, and assessing financial operations to help ensure that organizations run efficiently. On the other hand, finance deals primarily with making important financial decisions for an organization and helping “develop strategies and plans for the long-term financial goals of an organization” (Financial Managers 2012). It is also important to note that financial managers use the financial information prepared by the accounting department in order to make the best decision possible for their organization. Nevertheless, both accountants and financial managers together must operate effectively and efficiently to ensure the continued short-term and long-term financial viability of any health care organization. In this short essay I will explain the relationship between finance and accounting and how they both help ensure the financial viability of a health care organization. First, despite the fact that finance and accounting both oversee the financial aspect of a health care organization, the way in which they handle finances are very different from one another. “Accounting is concerned with financial record keeping, the production of periodic reports, statements and analyses,...
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...provide fashionable clothing at affordable prices. A supply chain includes all activities and information flow within an organization, transformation of goods and services from the raw material stage to selling the finished products to the end user. One of Zara’s key advantage lies in its process that allows Zara to operate efficiently. Zara employs subcontractors for all sewing operations, which allow the company to stay focus on its core competencies - designing, distribution and retailing of its products. Zara also exploits advance technology and knowledge, by developing customized system to operate its distribution center and creating a hand-held device to manage its ordering system scheduling and inventory management from the different outlets. These strategies have allowed Zara to operate at minimal cost as staying focus, enable Zara to continuously improve on its system to operate even more efficiently. Moreover, technology used in the organization, a huge investment, has minimize the need for paper work and reduce the unnecessary interactions between parties along the supply chain. Being in the fashion industry, Zara also understand the efficiently in terms of both cost and time pressure, it cannot depend only on a single or small number of suppliers. Therefore, Zara has about 260 suppliers, which reduce its...
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...proprietorship, partnership and corporation. The following organizations are analysed to find out their business types and purposes; a) Virgin Group LTD: Virgin Group LTD is a private limited company established in 1970 in UK. The purposes of this business organization are to raise the capital through the issuance of shares not exceeding total number of 50 shareholders. Here, another purpose of this business is to operate the business in such a way so that none can take over the company easily. There are some restrictions and legal rules for the shareholders like the shareholders cannot public trade their shares to others (Allen, 2001). b) Tesco PLC: Tesco PLC is a public limited company established in United Kingdom by Jack Cohen. Though the organization was at first established as the sole proprietorship company but it has been public limited company. The purpose of a public limited company is to increase a lot of capital through the capital market. Here, when the size of the organization becomes too high and the company has a good growth rate then it becomes difficult to operate the organization based on the sole proprietorship structure. So, public limited company’s purpose is to raise the fund through the capital market with distributing the ownership among the stock holders (Radebaugh, et al., 2010). c) MC Donald’s: MC Donald’s is the world’s largest fast food company that is considered under the franchising organization. Here every one can take...
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...REPORTING PRACTICES AND ETHICS PAPER HCS/405 June 2, 2014 Reporting Practices and Ethics Paper In today’s healthcare financial plans it is important to have good financial management. If the financial planning is not done properly then the company will not be able to function efficiently. The accounting records are kept up to date in regards to the guidelines in order to make sure the accounting records are accurate. By doing this, this helps keep track of how a company is doing to make sure that they are aware of where their money is going. This will show whether it is a profit or a loss. This allows the company to change things around so that they are not losing money within the company. Four Elements of Financial Management The accounting department plays a critical role within the medical office. The accounting department is the backbone of the organization and is what allows the organization to operate at its fullest potential. If the accounting department did not exist, it would make the office impossible for any type of company to operate efficiently. There are four elements of financial management which include the following; Planning, Controlling, Organizing and directing and Decision Making. The planning element sets goals and guidelines in order to allow the organization to ensure the future success and accomplishments of the medical office. The controlling is what ensures that all areas within the organization are following the...
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...The Nature of Entrepreneurship Danielle Norris Missouri Southern State University Abstract The two keys to a sustainable social enterprise are the economic factors and the enabling technology. Economic factors are key to the social enterprise because when a social entrepreneur has the economic factors align with their mission it can be huge contribution to it’s success. Enabling technology provide many benefits to the social enterprise such as lowering cost or by creating innovative ways to complete thing that could not have been completed before. Some successful SABE have used the blended approach, which has use both the economic factors and enabling technology as a key factor to their social enterprise. The Nature of Entrepreneurship The nature of entrepreneurship can seem very attractive to college students and persons who have recently graduated from college. The desire for college students to become entrepreneurs can be link to the attitudes and personal interests of an entrepreneur seeing that they are very similar to the typical college student’s attitude. There is a unique form of entrepreneur that uses their entrepreneurial attitudes and abilities to seek novel ways to solve pressing social problems; this form of entrepreneurship is called social entrepreneurship. Social entrepreneurs take risk to build social enterprises with the mission to help make lives better. Two keys to a sustainable social enterprise are the economic actors and the enabling technology...
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...Panopticism Summary Foucault begins with a description of measures to be taken against the plague in the seventeenth century: partitioning of space and closing off houses, constant inspection and registration. Processes of quarantine and purification operate. The plague is met by order. Lepers were also separated from society, but the aim behind this was to create a pure community. The plague measures aim at a disciplined community. The plague stands as an image against which the idea of discipline was created. The existence of a whole set of techniques and institutions for measuring and supervising abnormal beings brings into play the disciplinary mechanisms created by the fear of the plague. All modern mechanisms for controlling abnormal individuals derive from these. Foucault then discusses Jeremy Bentham's Panopticon, a building with a tower at the center from which it is possible to see each cell in which a prisoner or schoolboy is incarcerated. Visibility is a trap. Each individual is seen but cannot communicate with the warders or other prisoners. The crowd is abolished. The panopticon induces a sense of permanent visibility that ensures the functioning of power. Bentham decreed that power should be visible yet unverifiable. The prisoner can always see the tower but never knows from where he is being observed. The possibility that the panopticon is based on the royal menagerie at Versailles is raised. The Panopticon allows on to do the work of a naturalist: drawing...
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...Explain how economic systems attempt to allocate resources effectively………………3 1.2 Assess the impact of fiscal and monetary policy on “Lloyds Banking Group, UK”, and their activities………………………………………………………………………..5 1.3 Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a “Lloyds Banking Group, UK”....................................................................................7 References…………………………………………………………………………………….9 TASK 2: Nature of the Operating Business Environment Introduction: The study discusses different types of economic systems and assesses how these economic system attempts to allocate resources efficaciously, explains the UK government policies (namely monetary, fiscal, social, and competitive policies) and assess the effect of all the above-mentioned policies on a “Lloyds Banking Group, UK”, UK based organization. The paper exposits market structure types (namely, perfect competition, monopoly, monopolistic competition, and other market structures. Finally, the paper describes the ways market structures define the output and pricing strategies of the companies. 1.1 Explain how economic systems attempt to allocate resources effectively Economic systems are a set of institutions for assigning resources and making possibility to satisfy human wants. Resource allocation is the assignment of resources to particular tasks to deduce the basic economic choices, which are what to produce, how to produce...
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...Analyse the market of H & M and how well the company aligns its operations with its market. H M market can be analysed by using the following dimensions as described by D A Aaker. a) Market size & Market growth: Despite the fierce competition and being in the mature market, H & M has gained reputation of one of the biggest fashion retailer in Europe. The company has been able to maintain and expand its market share/size in the international market by focusing on price, quality and fashion/ market trends. Company’s operations alignment: a) Since establishment, H & M has used cost leadership strategy (Porter 1980) by producing and selling stylish garments at low prices. b) In 1987, the quality was added to this business strategy to offer the customer added value to have gain further competitive advantage against its competitors. The company has various quality tests are carried out at the suppliers factories to ensure they adhere to the company’s quality standards. c) H & M has been able to market development strategy (Ansoff) making its market presence in 16 countries through 1,345 stores. The company operates in Europe, North America, Asia and Middleast (through franchise). d) A wide geographical market presence has enabled the company to diversity its business risk. e) Company’s close review of the store performance has enabled the management to act efficiently resulting in closure of non profit or loss making stores and opening of new stores at more profitable...
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...For any business to be able to operate profitably it needs to implement and execute its core management concepts and strategies effectively in a manner gives it a competitive advantage in the market place. McDonald has been one of the highly growing profitable fast food retailers globally. With operations in 119 countries and more than 33,000 restaurants worldwide with 80% of these franchised, the management needs to perform its management functions effectively in order to sustain the growth and profitability and to stimulate further growth in the company (McDonald's Corporation, 2012). This paper analyzes the functions of management that’s being usedby the McDonald's leadership to turn make the company profitable. Functions of management at McDonalds: There are mainly four functions of management that makes a company able to translate strategy into profitability and enhances a more cohesive organization which helps in fulfilling a company's operating objectives. These are planning, organizing, leading and control (Robbins and Coulter, 2001). Planning: Planning is a function of management which helps in determining exactly where the organization is presently and the course of action that needs to be undertaken in order to take it where it wants to be in the future and how the company's goals and objectives can be attained (Robbins and Coulter, 2001). In this sense therefore planning involves curving out a course of action to be taken based on the available and prospective...
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...Panopticism Summary Foucault begins with a description of measures to be taken against the plague in the seventeenth century: partitioning of space and closing off houses, constant inspection and registration. Processes of quarantine and purification operate. The plague is met by order. Lepers were also separated from society, but the aim behind this was to create a pure community. The plague measures aim at a disciplined community. The plague stands as an image against which the idea of discipline was created. The existence of a whole set of techniques and institutions for measuring and supervising abnormal beings brings into play the disciplinary mechanisms created by the fear of the plague. All modern mechanisms for controlling abnormal individuals derive from these. Foucault then discusses Jeremy Bentham's Panopticon, a building with a tower at the center from which it is possible to see each cell in which a prisoner or schoolboy is incarcerated. Visibility is a trap. Each individual is seen but cannot communicate with the warders or other prisoners. The crowd is abolished. The panopticon induces a sense of permanent visibility that ensures the functioning of power. Bentham decreed that power should be visible yet unverifiable. The prisoner can always see the tower but never knows from where he is being observed. The possibility that the panopticon is based on the royal menagerie at Versailles is raised. The Panopticon allows on to do the work of a naturalist: drawing...
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...Chapter 1 Globalization and the Multinational Enterprise ( Questions 1-1. Globalization and the MNE. The term globalization has become very widely used in recent years. How would you define it? Narayana Murthy’s quote is a good place to start any discussion of globalization: “I define globalization as producing where it is most cost-effective, selling where it is most profitable, and sourcing capital where it is cheapest, without worrying about national boundaries.” Narayana Murthy, President and CEO, Infosys 1-2. Globalization and Value Creation. What does an MNE need in order for it to create value through the globalization process? Global business, like any business, is the social science of managing people to organize, maintain, and grow the collective productivity toward accomplishing productive goals, typically to generate profit and value for its owners and stakeholders. A multinational enterprise (MNE) needs three fundamental elements in order to build firm value: (1) an open marketplace; (2) high quality strategic management; and (3) access to capital. 1-3. Value Creation and the Concept of Capitalism. How does the concept of capitalism actually apply to the globalization process of a business, as it moves from elemental to multinational stages of development? Open markets and insightful leadership is all for nought if the MNE cannot gain ready access to affordable capital. It is capital that allows the investment...
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...those paying for the goods and services will benefit from them. Also, some services cannot be provided by public entities, like infrastructure projects. ------------------------------------------------- ------------------------------------------------- The similarities of government and nonprofit (or not-for-profit) organizations and profit-seeking (or for-profit) organizations: a. ------------------------------------------------- Both types of entities operate in the same economy and use the same financial, human and capital resources to accomplish their goals. b. ------------------------------------------------- Both must get and convert scarce resources to produce goods and services. c. ------------------------------------------------- Both use information systems that will make their jobs easier through evaluating, planning, directing and controlling the resources and their uses. d. ------------------------------------------------- Both aim to effectively, efficiently, and...
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... Optimal input level in short‐run The amount of fish caught per week on a trawler is a function of the crew size assigned to operate the boat. Based on past data, the following production schedule was developed: Crew size (number of workers) 2 3 4 5 6 7 8 9 10 11 12 a) Over what ranges of workers are there (i) increasing, (ii) constant, (iii) decreasing and (iv) negative returns? b) How large a crew should be used if the trawler owner is interested in maximizing the total amount of fish caught? 1 Total product Q Marginal product MPL Average product APL Amount of fish caught per week (hundreds of lbs.) 3 6 11 19 24 28 31 33 34 34 33 c) How large a crew should be used if the trawler owner is maximizing the average amount of fish caught per worker? d) Suppose that the trawler owner can sell all the fish caught for $75 per 100 pounds and can hire as many crew members as desired by paying them $150 per week. Determine the optimal crew size if the trawler owner wants to maximize profits. Exercise 3. Optimal input levels in long‐run A firm uses two variable inputs, labor (L) and raw materials (M), in producing its output. At its current level of output: CL = $10/unit MPL = 25 CM = $2/unit MPM = 4 a) Determine whether the firm is operating efficiently, given that its...
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...sustainable world to live in, but too many people, organizations, and businesses are not taking the appropriate time to follow the actions that Freidman suggests. We have to change the way we operate as people and as businesses, because we are harming our environment our ecosystem cannot keep up physically with the way we are living. Also some adverse effects are adding to the destroying of our environment, ozone layers, and our ecosystems. The energy we use everyday is growing at a significantly higher rate every year, and our ecosystem cannot keep up with our usage. “Planet's surface temperature may warm up in response to a doubling of carbon dioxide -- a byproduct of fossil fuel burning -- they typically predict a rise of between 2.1 and 4.7 degrees Celsius.” Earth could become hotter than thought, study warns. (n.d.). The use of more and more energy is producing twice as much carbon dioxide emissions to be released and it’s beginning to pollute the atmosphere at a extremely high rate. Our society needs to establish a cleaner or greener environment to operate our businesses in, and if this thought is brought to action companies will be able to work more efficiently. Ascertaining a fresh new energy system, that concentrates on solar, wind, and nuclear power that work more efficiently than oil and coal. Using a cleaner energy system, our future is bright...
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