...In the aviation industry, forecasts of air travel demand are important specially for the two biggest aircraft manufacturers (Boeing and Airbus) for a wide variety of economic decisions, including research and development, airplane design such as size and specification, and production planning. “Boeing’s air travel demand forecast is developed by constructing and matching top-down and bottom-up analyses. Bottom-up analysis involves forecasts of traffic between and within individual countries, based on economic predictions, growth momentum, historical trends, travel attractiveness, and projections of the relative openness of air services and domestic airline regulation. Additionally, government statistics on inbound and outbound visitors and tourism receipts are included to identify and cross- check trends. Countries are grouped into geographical regions that generate air traffic flows between and within the regions. In the top-down approach, global and regional markets are similarly projected on aggregated variables. The bottom-up and top-down projections are then reconciled, allowing for the effects of industry and airline business model developments. Further, positive or negative region-specific developments, including population dynamics, shifts toward or away from other modes of transport, and emergence of new air services, are factored in. The resulting regional traffic forecasts are used in developing the airplane demand forecast” (Boeing, 2012). “Airbus Global Market Forecast...
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...Interview with a leader Introduction about the company and the leader X works as an executive and is also a member of the directorate at the government owned firm, Apotekens Service. Apotekens Service was established in 2009, when the pharmacy market in Sweden was de-monopolized. Today it has more than 100 employees, and its function is to work as an allying point of all the necessary information that needs to be shared between the health care and the pharmacies. Its main focus is on electronic prescriptions, since over 80% of all prescriptions are electronic. X is 62 years old, has a degree in pharmacy and started out as a product specialist at the former government owned pharmacy, Apoteket AB. There she gained experience as a project manager and she later became an executive. When Apotekens Service opened up in March 2009, she was an obvious choice for being one of the new executives there, since she had previous leadership experiences and since she was well respected and appreciated. Today, she is responsible for 24 employees and her main work tasks are to council and coach them. Key learning about leadership For X, leadership is about coaching people, rather than controlling them. She only wants to make it easy for her employees to complete their tasks, not give them a solution on all the problems they will encounter. She finds it important that all employees feel engaged, since they are the ones who will lead the work forward, and she wants them to have their own...
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...Introducing Algorithms Dedric D. Owens PRG/211 – Algorithms and Logic for Computer Programming October 28, 2013 John Rogers Describe the Top-Down Approach to Algorithm Writing When developing a program, the top-down approach is more than not the preferred method. This is driven by what the program actually does; basically the function of the program. According to Penn State Lehigh Valley, “top-down design or stepwise refinement is an approach to designing an algorithm” and, there are four steps in this top-down design. These steps are as follows: You have to “understand the problem by thoroughly analyzing it.” Then, “formulate the algorithm by determining and writing the main tasks to be carried out as a sequence of general steps”. The third step is to “fill in more details by determining the sub-tasks, if any, for each main task. Lastly, “repeat step third step until you arrive at a precise algorithm expressed in terms of basic executable instructions.” How is pseudo-code used to assist in writing an algorithm? Pseudo-code is defined as an outline of a program written in a form that can easily be converted into real programming statements. It is sometimes confused with an algorithm when developing a program. In reviewing Prelude to Programming: Concepts and Design, Fifth Edition, (para. 2.1, pg 72 an algorithm is “a step by step method for solving a problem or doing a task.” Pseudo-code uses short and easy to understand phrases in plain...
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... Explain the relative merits of the top-down and bottom-up approaches to budget setting? Budgeting Budgeting is a formal process in which a company's expenses and revenues are planned for the future. Top down and bottom up are two most common budgeting techniques. In the top-down approach, upper management prepares budgets with no input from employees or lower-level managers. In the bottom-up budgeting approach, managers and employees at the department level prepare budgets for their individual departments. A final, organizational budget is prepared by consolidating all individual, department budgets. The relative merits of Top-Down Budgeting Financial Control * When upper management evaluates a company's overall financial needs and compares the needs to projected revenues for a year, it gets a clear picture of how much money it can reasonably allocate to different areas. Decisions are made about where finances will have the most positive impact and staffers are given directives on what they have to work with. This approach allows upper managers to maintain complete financial control over a budget. Accountability of Staff * When a staff is given a certain budget to work with, it must make prudent financial decisions about how the money will be used. This may result in greater financial accountability and more comparison-shopping for products, services and consulting help. Faster Process * Top-down budgeting is much more time-efficient than...
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...CASE 9-1: NEW YORK TIMES 1. Describe NYTD’s evolution to date. What is strategy of NYTD? Are the organization and control consistent with the strategy? Evolution: New York Times first ventured into the Internet in 1995. Back then, the company was called the New York Times Electronic Media Company. In 1999, a new operating division, Times Company Digital, was created, which reported directly to corporate management. The new division included NYTimes.com, Boston.com, NYToday.com, GolfDigest.com, WineToday.com, and Abuzz. The new division had a decentralized structure and different organizational structures but still with similar roles as a common newspaper. The different websites were combined in the new organization to be able to learn from each other. A lot of effort was then put into creating a culture of team-work and openness, and the NYTD moved into a new building. This separated unit, first organizationally and then physically, led to tensions between the original Company and the new division. The new culture and employees hired from outside the Company created a very competitive internal environment. In 2001 the company owned several broadcast media properties, and the New York Times brand was believed to be the company’s most valuable asset, built through years of topnotch reporting and analysis, plus marketing and promotion. By September of 2001, NYTD had developed and was operating two websites: NYTimes.com and Boston.com. The websites included Internet access to the...
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...VW America Case: 1. What is your assessment of the new process for managing priorities at Volkswagen of America? Are the criticisms justified? Is it an improvement over the old process? Beginning with Pischetsrieder’s arrival in 2001, VWAG initiated an unprecedented product-diversification rebirth, globally as well as in the US. A consequence of this strategy required a comprehensive business realignment within VWoA called the “Next Round of Growth” (NRG). NRG clarified two high-level strategic business goals, “Build Brand Customer Loyalty” (number one) and “Improve Vehicle Value” (number two). Somewhere, during this course, I read “the primary function of IT is to support the business’s strategic goals and objectives.” With the newly defined goals within NRG, we see that Dr. Matulovic is doing just that. He is instituting a long overdue process of prioritizing IT projects which are aligned to the goals and objectives of the company. Today we say that this is a basic business fundamental but we need to keep in mind of the timeframe that this is occurring; the 1990s through the early 2000s. In this study we are seeing a company not only undertaking a major product line transition but a company in transition during the emergence of IT technologies. Through all of this and its history I see that VWoA is finally getting it right; aligning their IT priorities with their business goals. As with any new process, criticism and resistance will always be within an organization...
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...the change initiatives must be driven from the top or they should be organic from the bottom up. This is especially the case with organizations that are growing in size where the increase employee base or the skyrocketing sales and revenues mean that the top management’s scope of control is more and hence driving change from the top alone might not just work. And for those organizations that initiate change from the top, they might find themselves in a situation where the middle and bottom layers of the organizational hierarchy may not be responsive or energized in the way the top managements wants them to be. So, the existential questions as to whether there ought to a spontaneous involvement from all the levels, or whether the top management must induce the change, are very real and need to be answered for change initiatives to succeed. | The answer as to which option is preferable depends on a number of factors. First, any change initiative would succeed only if it is communicated appropriately and to all levels. Honest, transparency and feedback loops must be the elements of the change initiative. Next, the employees ought to have a voice in the way the change initiative is managed. For a change initiative to be successful the top management has to communicate and the employees have to respond. Like Bees gathering around honey and being driven by the Queen Bee, organizations have to ensure that while the CEO or the other top managers initiate the change, employees at all...
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...budgeting, though many businesses and corporations, along with the United States government, are moving towards more top-down budgeting, particularly during times of fiscal stress (Peterson, 2012).” BOTTOM UP The components of the Bottom Up approach are as follows: Instruct managers in compensation policies and techniques, distribute forecasting instructions and worksheets, provide consultations to managers, check data and compile reports. Analyze forecasts, review and revise forecasts and budgets with management, conduct feedback with management and monitor budgeted versus actual increases. TOP DOWN Top down approach the budget starts with an assessment from upper management of the pay increase budget for the whole organization. Once the total budget is determined, it is then distributed to each manager, who plans how to dispense it among assistants. Planned pay-level rise is another approach of top down which is the percentage increase in average pay for the unit that is planned to happen. There are several factors that come into play on how much increase the average pay level for the next period and they are as follows: how much the average level was increased this period, ability to pay, competitive market pressures, turnover effects and cost of living (Milkovich, Newman & Gerhart, 2011). The approach my current workplace uses is the Top down approach. I agree, this is wise because the company is small and upper management knows everyone and is able to recognize...
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...agreed that all the CEO’s in the video valued their employees and treat them as a team. They all found a way to take advantage of their employees in a way that would result in positive effects for their companies. The strategy each CEO chose to take resulted in a respect among the higher level employees and the lower level of employees. The two corporate strategies the four CEO's talked about were Top Down and Flat. The CEO's talked about how each strategy had its own uses and how each may provide different results. While watching the videos, it was noticed by our group, that the four CEOs discussed the top-down corporate strategy more than any other. Our group also agreed that the Top Down strategy was the preferred approach among the employees. One of the CEO’s talked about how it allowed for a quicker way to find the talent amongst the employees and how people feel they can reach out with problems or information to their managers. This created a way for the department or company to find a better way to get things done. Other CEO's talked about how the Top Down approach was a way for managers and subordinates to work on a team level and all would hear the ideas expressed. This would help decisions be made that would cause better results for the company. In this type of work environment, employees are given a certain amount of authority and they can be flexible, instead of having to run to the manager every time a small decision needs to be made. It was...
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...they might find difficult for themselves when trying to reach an unrealistic target for their unit (McQuerrey n.d.). * Set a common goal for all departments about the expected sales or production activity that need to be reached within the organization (McQuerrey n.d.). B. * Deeper focus as huge amount of employee involved in planning which result in improving employee motivate and morale and make them feel utilized when their area of expert involved in planning (Filev 2008) * Employee will feel that their concerns are heard and respected. This result in creating collaborate effort where all parties understand each other need and expectation which promote the productive when they are working together (Walther n.d.) * Top manager might feel loss of financial control and cannot achieve an effective budget project as unnecessary expense might incur due to lack of experienced from lower-level employee (Filev 2008). * Planning and control stage might take more time and cost overruns the bottom-up approach will be greater than expected (Baumeyer n.d.). C. Communication process under...
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...responsible for feeling the sting of the caliper. Student number 2: responsible for sticking the student number 1. Student number 3: responsible for write down the results. Student number 4: moral support. Experiment: the student number 1 extended his arm to receive the nudge without seeing how many points the student number 2 was using. The student number 2 chooses the distances between the points and if he would poke finger or forearm randomly so that the student number 1 would not be influenced by the order of the distances. The student number 3 wrote if the student number 1 felt one point or two. State the percentage of participants who felt two points at each of the six distances on the finger. 0.0 cm - 0% 0.5 cm - 80% 1.0 cm - 100% 1.5 cm - 100% 3.0 cm - 100% 5.0 cm - 100% State the percentage of participants who felt two points at each of the six distances on the forearm. 0.0 cm - 0% 0.5 cm - 20% 1.0 cm - 20% 1.5 cm - 60% 3.0 cm - 60% 5.0 cm - 100% Was there a difference in the touch sensitivity on the finger compared to on the forearm (i.e., did participants feel two points in one area more than in the other)? Yes. The participantes were more sensitive on the forearm than the finger. Describe 5 sensory experiences (1 for each sense – vision, hearing, taste, smell, and touch) and how top-down and bottom-up...
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...1. Introduction Most diversity initiatives start from the top with the leadership commitment. A high-level strategy is developed, complete with vision, mission and goals. But by the time it gets to the bottom (if it ever makes it!), it is often interpreted very differently. The intent of top-down approaches is noble, but without an equally effective bottom-up strategy, diversity initiatives invariably get stuck in the middle. In most cases, when a company decides to focus on diversity, the CEO and other top-level executives will incorporate a philosophical message in a variety of company publications and in presentations and reports given both internally and externally. These well-worded communications usually speak to ‘valuing and respecting diversity’, ‘the desire to have an organisation that is representative of the labour force and customer base’, ‘social responsibility, and compliant with the law and anti-discrimination policies’. A wide variety of processes, policies, and strategies are then developed to promote awareness and appreciation of differences, ensure fair treatment, increase representation, and create a culture of inclusion. 3. Key features of a bottom-up approach # Focus on the individual Recognising that change happens one person at a time and that everyone is different (e.g. have had different experiences), a bottom-up approach develops different learning solutions and strategies to meet individuals where they are. For example, white males often feel...
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...Involving employees at all levels of the organisation in the budgeting process: 1. Participative budgeting (bottom up approach) 2. Top-down approach 3. Line-item budgeting (spend up to the specified amount on each line item) Adv: Tight control reduces likelihood of managers doing things for self-interest. Disadv: Inflexible in responding to unanticipated needs. 4. Incremental budgeting (begin with current year’s performance and adjust for expected changes.) Adv: Review focuses on incremental changes and may ignore current inefficiencies. Disadv: Ignores current inefficiencies. 5. Zero-based budgeting (Budget is constructed from scratch each period rather than starting from last period’s actual results.) Adv: Each activity must be justified in terms of its continued usefulness. SO useful when firm is changing strategic direction. Disadv: Time-consuming 6. Budget Lapsing (a requirement that funds allocated for a particular year CANNOT BE CARRIED OVER to the following year) Adv: Tighter control so prevents risk-averse managers from accumulating funds. Disadv: Encourages wasteful spending. 7. Budget Ratcheting (basing this year’s standard of performance on this year’s actual performance) Adv: Performance targets usually adjusted upwards. Disadv: Temper the better-than-budgeted performance, avoid being held to higher standards. SOLN: Use other measures to replace budget targets for performance evaluation. Behavioural effects of budgets: - Budgets create a use-it...
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...Top-Down, Bottom-Up and Metacognition – Discovering the Mind Angelica Lipscomb PHYC102-1402B-10 Robin Redfern June 15, 2014 Abstract In scientific psychology the question of how information is processed is achieved by asking to what amount a psychological procedure is motivated by top-down as opposed to bottom-up information. The difference between top-down and bottom-up processing is commonly used in experimental psychology. Top-down processing proposes that we form our observations starting with a bigger objective, thought, or knowledge before working our way in the direction of more thorough information. Bottom-up processing, also identified as "small chunk" processing, proposes that we attend to or identify essentials by beginning with the slighter, finer specifics of that component and then move upward until we have a firm illustration of it in our minds. Top-down processing is also identified as conceptually-driven processing, because your observations are swayed by anticipations, beliefs, and perceptions. Sometimes people are mindful of these encouragements, but in other cases this procedure happens without mindful cognizance. Top-down processing can be useful when we are searching for similarities in our environment, but it can also obstruct our capability to recognize things in diverse ways. Our prejudice toward observing things in a particular way is recognized as a perceptual set. A good example of top-down processing is the sentence that is traveling around...
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...All aspects of project management are extremely crucial, however, the project budget is undoubtedly the most scrutinize-able facet. We can define cost by using Google, we can define cost by using Webster,...I prefer to use a cliché! Cost is what it takes to get the job done! When one attempts to determine the budget of a project they must take several factors into consideration. First, one must create a plan managing cost (Schwalbe, 2014). This step seems basic, yet when we break this step down one can easily see its importance. For example, planning cost management involves determining the level of accuracy, control threshold, and reporting formats(Schwalbe, 2015). Determining level of accuracy is important because in this step a manager may allocate contingency funds for cost overruns. A crucial factor when creating a budget is cost estimating. Cost estimating can be done from a bottom-up approach, top-down approach, or a parametric approach (Reincke, 2009). The later technique involves assigning fix cost values to specific tasks. For example, an electrician may estimate $25 per convenience receptacle during open wall construction versus $100 per convenience receptacle during remodel work. Inflation and changes in scope and deadline can derail a project's budget. Changes in scope or an increase in scope can affect a budget in a positive or negative manner. The specifics of scope change must be analyzed very carefully. For example, if an IT project was originally slated to...
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