What Could Be Done First - 853 Words

A nurse wants to acquire knowledge of a specific culture. What could be done first? a. Talk to coworkers b. Review literature c. Talk to family members of the patient d. Ask others with more experience for help b. Reviewing literature about a specific culture can provide the nurse with a starting point for information about cultural standards, nutritional practices, family lines of authority, health and illness attitudes and practices. [Found through Google search â€Å"NCLEX culturally competent care†: https://quizlet.com/9340632/fundamentals-i-nclex-questions-flash-cards] During my research on an NCLEX-Style question, I was intrigued by the above question and it answer. This question in fact, seems to assess how nurses can find patient’s cultural information in order to better care for them. This desire is wise, professional and if done appropriately not only would exemplify cultural congruent care, but also would make the nurse more efficient, which would obviously lead to patient satisfaction. However, this question itself present some confusion because it does not tell if the nurse has a patient and want to acquire a knowledge about this specific patient culture or if she want by a simple curiosity find some information about a specific culture. Also, the answers options inform that the nurse may be in a facility or in a Hospital, she might have a patient surrounded by his family members, she may have her coworkers, and people more experienced than her to help herShow MoreRelatedMoral Responsibility and Harry Frankfurt1286 Words   |  5 PagesThe incompatibilists argue that one is morally responsible for what she has done given that she could have done otherwise. 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Without a deadline to meet you could simply drag out whatever it is you’re working on for as longRead MoreAnalysis Of Oedipus At Colonus 1564 Words   |  7 PagesThe ancient Greeks accepted the fact that their gods possessed the ability to foresee future events, and that certain people, seers, could access this information. Oracles, priests often associated with a certain god-such as the oracle to Apollo at Delphi-were believed to be able to interpret visions from the gods and provide prophecies to people seeking knowledge of the future. Oracles were a part of Greek life -many people, including famous leaders and common folk, consulted them for help whenRead MoreQuality Improvement Paper1440 Words   |  6 Pagesproduces quality products or services. Verizon field technicians use a checklist to help ensure that they are doi ng quality work. The checklist reminds the technician what needs to be done at each job. Even with a checklist and process in place it could be better. 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The lower priced dentist mentions that the woman needed some basic dental work done to her teeth to keep them h ealthy. While (deleted comma) the woman was at her general dentist, the dentist was attempting to force the woman to get a more expensive cosmetic work done. Her general dentist provided her with an expensive treatment plan for approximately $14,700. Upon hearing the cost, the patient went for a second opinion fromRead MoreKiser Processing Model Essay1552 Words   |  7 Pagesgoing to use the integrative processing model developed by Kiser to better learn to better learn from my internship experience. The best way I can think of to do this so I am able to get the most out of this exercise will be done as follows. For each step Kiser suggest I will first explain the step using Kisers word then my own, I will then follow the step and I will then explain why each step is useful. Once I am finished with the whole process I will then summarize how the model has helped me thinkRead MoreEssay on My Own Reconstruction Plan after the Civil War867 Words   |  4 Pagesbigger battle still ha d to take place; reconstruction. Reconstruction after the war was not going to be easy, and it was not. What was the primary goal? What should be done to ex-confederates? Free Blacks? How should this reconstruction take place? Many of these questions were solved by the government, but how well? Reconstruction could have gone very differently, and that is what I intend to show. I will develop my own reconstruction policy for the United States after the American Civil War, dealingRead MoreThe Case Of The Unwilling Addict1479 Words   |  6 PagesDesires and Moral Responsibility We have certain notions of what free-will is. But before we can discuss the notion of free-will, we need to establish the meaning of this term. Having free-will refers to one’s choices or desires (O’Connor, â€Å"Free Will†). A person who is able to act according to the determinations of their will (i.e., choices or desires) is free (Russell, â€Å"Hume on Free Will†). But is it always fair to blame people for performing morally wrong actions when they act on the basis of theirRead MoreGroup Reflection839 Words   |  4 Pagesmoment of alarm. Also, there was a lack of leadership or guidance within the group, making it harder to have the work done. Last, I believe there were some aspects of the group collaboration that could have gone better. The presentation was not exemplary work, and I know that we could have done better. In the beginning of our research, we started to decide when and where was our first meeting going to be held. Since the Thanksgiving break was in just a few days, we had a conflict on setting up the

Challenges Facing The Human Resource Department - 1314 Words

Introduction of the Issue: As international businesses become more common and globalization continues to boom, many challenges face the Human Resource Department. With employees and business spanning over many countries, continents and hemispheres, businesses will face cultural diversity, technology reliance, and many other risks that go along with international businesses. Human Resource departments have been forced to become more knowledgeable in the hiring, training and retention of managers in international businesses due to these challenges. HR should first learn how best to train managers, and then utilize the following best practices to implement the training and development of managers in international business. Training Training managers is the outlying part of each best practice Human Resources must implement. To train well, HR must find the best way to go about training managers, which may be in various locations and from a broad range of cultures. In the article titled, â€Å"Multicultural Work Force,† training is explained in two forms, awareness training and skill building. Awareness training is broader and aimed at increasing a manager’s self-awareness with situational exercises. These exercises will show employees how they think, manage and act when challenges emerge. After seeing the results, HR can directly work on areas needing improvement to best equip the managers in solving challenges. Skill building is directly looking at cultural norms for specificShow MoreRelatedDescribe How Businesses Should Manage Organizational Changes710 Words   |  3 Pagesexecutives to overlook certain challenges. One of the most notable has been the firms inability to deal with issues of discr imination, harassment and employee termination. This problem has become such an issue, that the company settled several discrimination lawsuits. 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2001 dot-com Bubble its causes, effect, and lessons learnt Free Essays

Abstract This paper looks at the causes, effects, and lessons learnt from the 2001 dot-com bubble financial crisis. To support my statements I investigate a variety of sources, including recently published academic journals, newspaper articles, books, and market reports. I find that the so called â€Å"Get Big Fast† business model that many dot-com companies employed was fundamentally flawed, and after the bubble burst many companies have found it more beneficial to move to a more prudent model. We will write a custom essay sample on 2001 dot-com Bubble: its causes, effect, and lessons learnt or any similar topic only for you Order Now Introduction The dot-com bubble was a historic speculative bubble in the stock market which occurred in the years on 1995 to 2000. As an indicator of the bubble, the NASDAQ composite index is often quoted. The NASDAQ composite index rose from 751.49 to 5,132.52, a 682% increase, from January 1995 to March 2000 (Appendix A, B). In this work, I look at factors that may have caused the 2001 dot-com bubble to grow and then subsequently burst. I look into the role of the media, interest rates, venture capital, and finally the â€Å"Get Big Fast† business model. Next I look at the effect the 2001 dot-com bubble had on companies, considering measures of survival, levels of mergers and acquisitions, and changes in image to remove association with those times, but also on investor confidence. Finally, I look at what lessons may have been learnt from the dot-com era. Cause American publications such as Forbes and the Wall Street Journal encouraged the public to invest in risky companies despite many of the companies’ disregard for basic financial and even legal principles (Lowenstein, 2004). Buffett (2000) says â€Å"Equity investors currently seem wildly optimistic in their expectations about future returns.† However, not only can the media be argued to have caused the huge growth of investment, but it can, according to Niederhoffer and Kenner (2003), also be attributed to its demise. They speak in particular about Alan Green’s â€Å"irrational exuberance† speech in December 1996 setting of a chain of events that leads to an eventual â€Å"reaction against technology, optimism, and growth†. In reality, of course, no financial crisis can be sensibly attributed to just one cause. It is more likely instead to be a combination of many. For example, the low interest rate in 1998-99 has been said to have helped increase the start-up capital amounts and lead to increased venture capital being offered (Metrik, 2007). The coining of the â€Å"Get Big Fast† belief started during the dot-com era. The initial start-ups operated with a short-term loss business plan, insisting that by grabbing the market share and dominating their specific sectors they could then charge what they wanted at a later date. Recent research (Goldfarb, Kirsch and Miller, 2006) suggests that many companies would have had better success targeting smaller niche markets. In addition, they say that the â€Å"Get Big Fast† belief drove investor behaviour during the period leading to more stocks bought and companies became overpriced. So, as a combination of a number of factors, the bubble burst and the effects were widespread. Effect The effects of the bubble bursting were that several companies went bankrupt. An example is WorldCom who admitted to billions of dollars of accounting errors (Tran, M., 2002), and as a consequence the stock price fell so drastically they had to file for bankruptcy. Many other struggling companies became acquired or merged with other companies. Aharon et al. (2010) found that there was an increase in mergers and acquisitions during the dot-com bubble. Interestingly, they also found that the pricing of mergers and acquisitions did not change. Mintel (2010) states: â€Å"The investment bond market was badly hit by the bursting of the dot com bubble in the early noughties and has been in perpetual decline ever since – in 2002†. Many companies changed their names to remove any association as a dotcom company. Cooper et al. (2005) mention how during the bear market of the early 2000s â€Å"investors react positively to name changes for firms that remove dot.com from their name†. Lessons learnt Within the technology sector, Parsons (2012) argues that greater prudence is ensuring the â€Å"sector is financially solid and is currently the only one to have more cash on its balance sheet than debt†. There also seems to be an awareness of the damage to Initial Public Offerings by companies. Recent research (Pilbeam and Nagle, 2009) suggest that â€Å"the high-tech IPO market was dramatically affected by the Dot-Com Crash and that after the crash, the number of high-tech IPOs dropped considerably†. Many companies moved away from the â€Å"Get Big Fast† belief that epitomised the dotcom era, seeing that it was not sustainable as business model. Eventually these companies would have to start to a get the fundamentals right and turn in a profit. So many were being started too quickly, all with the business plan of monopolising their particular market place, which inevitably not everyone could succeed and many as a consequence folded. Berlin (2008) says â€Å"Many of the companies that survived the dot-com bust did so by ignoring the prevailing â€Å"Get Big Fast† business model†. He talks about research by David Kirsch and the Dot Com Archive that found that they referred â€Å"micro niches† which were markets that did not offer huge profits quickly, but instead presented viable internet-based business opportunities. Companies that had learnt from the dot-com bubble were not believing that life-altering changes would happen over-night. Many believe that lessons have not been learnt from the 2001 dot-com bubble financial crisis. Many think that we are in another social media bubble currently which has very analogous characteristics to the 2001 dot-com bubble (Vass, 2012; Foley, 2012). Conclusion In this essay I have looked at the cause, effect, and lessons learnt from the 2001 dot-com bubble financial crisis. The cause unsurprisingly does not seem to come down to one single factor. The media clearly played a large part in making investors over confident during the growth and then overly pessimistic leading to its eventual demise. However, I also found that an unsound business model of the time, â€Å"Get Big Fast†, played a major role too. I found evidence that more prudent business model based on modest profits had lead to the technology sector recovering. As always, history has a habit of repeating itself, and I also looked into the believe of some that lessons have not been learnt by Social Media companies and that we may be in another Social Media bubble right now with characteristics very similar to that of the dot-com crisis. Appendix: Line graph illustrating the 2001 dot-com bubble Figure 1: The close price of the NASDAQ Composite (Yahoo! ticker symbol ^IXIC) from 2nd January 1990 until the beginning of 2012. The graph clearly illustrates the 2001 dot-com bubble, where the value of the NASQAQ composite rises steeply up until its peak in February. Data is taken from Yahoo! Finance Historical Prices available at http://uk.finance.yahoo.com/q/hp?s=^IXIC. Appendix: Table showing the extreme of the NASDAQ Composite price Table 1: Historical prices of the NASDAQ Composite (Yahoo! ticker symbol ^IXIC) at the start of its growth in 1995, to its peak in 2000, to its huge fall in 2002. Data is taken from Yahoo! Finance Historical Prices available at http://uk.finance.yahoo.com/q/hp?s=^IXIC. References Aharon, D.Y., Gavious, I., Yosef, R., 2010. Stock market bubble effects on mergers and acquisitions. The Quarterly Review of Economics and Finance, 50(4), pp.456-470. Buffett, W., 2000. Warren Buffet’s Letters to Berkshire Shareholders. Berkshire Hathaway Inc., 1 March Berlin, L., 2008. Lessons of Survival, From the Dot-Com Attic. The New York Times, 21 November. Cooper, M. J., Khorana, A., Osobov, I., Patel, A. and Rau, P.R. , 2005. Managerial Actions in Response to a Market Downturn: Valuation Effects of Name Changes in the Dot.com Decline. Journal of Corporate Finance, 11(1-2), pp. 319-335. Foley, S., 2012. Is the dot com bubble about to burstThe Independent, 4 August. Goldfarb, B.D., Kirsch, D., Miller, D., 2006. Was There Too Little Entry During the Dot Com EraRobert H. Smith School Research Paper No. RHS 06-029, 24 April. Lowenstein, R., 2004. Origins of the Crash: The Great Bubble and Its Undoing. New York: Penguin Press. Metrick, A., 2007. Venture Capital and the Finance of Innovation. New Jersey: John Wiley Sons, Inc. Mintel, 2010. Investment Bonds: Mintel marketing report. February 2010. London:Mintel International. Niederhoffer, V. And Kenner, L. 2003. Practical Speculation. New Jersey: John Wiley Sons, Inc. Parsons, A., 2012. Tech firms learn lessons of dotcom bubble. The Share Centre, 10 June. Pilbeam, K. and Nagle, F., 2009. High-Tech IPOs in the US, UK and Europe after the Dot-Com Bubble. International Journal of Financial Services Management, 4(1), pp.64-75. Tran, M., 2002. WorldCom accounting scandal. Guardian, 9 August. Vass, S., 2012. The new dotcom bubbleSunday Herald, 13 May. How to cite 2001 dot-com Bubble: its causes, effect, and lessons learnt, Essay examples

Management Accounting Assignment

Questions: a. A plant manager recently made the following statement at a team meeting: No bean counter knows enough about my responsibilities to be of any use to me. As I see it, our accountants may be needed to keep records for shareholders and the Australian Tax Office, but I dont want them sticking their noses in my day-to-day operations. Required: As a management accountant, provide a suitable reply to the plant manager. b. Wayne Deng is reviewing the statement of cash flows for his technology business. The statement has been provided by his accountant. He is dismayed that the statement shows net cash outflows for investing activities. Required: Discuss if Wayne should be concerned by this. c. Your doctor knows that you are studying accounting. He has recently received the annual report for a company in which he is a shareholder. The financial report within the annual report is lengthy and your doctor requests your advice as to whether he should contact the company to complain that the financial information is not understandable. Required: Provide a suitable reply to your doctor. Answers: a. With the increasing complexity of the businesses in recent times, it is necessary to have accurate cost and performance information relating to the companys products, services, processes, and customers. The cost information is very useful in designing products that generates profits and also satisfies the customers. It is also used to decide on the product mixes and in improving the processes by eliminating non value added activities. The choice of supplier can be made with the cost information and efficient distribution channels can be developed to make deliveries to the target customers with the help of this information. The accurate cost information is provided by the management accountants with the help of costing systems that they use to record the data of costs incurred. Normally a large company would use Activity based costing system which allocated the costs to various activities due to which such costs have arise and on the basis of usage of these activities by the product, process of service, the overhead costs are allocated. Management accountant plays a very important role in managing the costing system and on the basis of the data provided by the ABC system; the plant manager can improve the existing processes, products or services. He can focus on the value added activities and eliminate the non value added ones. Though the management accountants are present on the plant floor to observe the activities, however the information provided to the plant manager in the form of periodic reports by the costing system being maintained by the management accountant can be used by the plant manager to improve processes and make them more efficient. The role of the management accountant is to collect and process the information into meaningful results which can be used by the management to plan, evaluate and execute their business strategy by designing suitable business processes which will be cost effective and give products that would be customer satisfactory and profit making. b. Cash Flows Statements are a part of financial statements of a company. Cash flow statement consists of cash flow from operations, cash flow from investing activities and cash flow from financing activities. A company needs to have a positive cash flow to pay for its operational expenses and capital expenditures. However, it is not necessary that all categories in the cash flow statement should have a cash inflow, rather cash from operations should definitely have a cash inflow since it is the money generated from the companys core business and this cash can be used for day to day expenses and for any capital expenditure, the company can source cash from financing activities like issue of shares, taking a loan etc. Cash inflows from investing activities include proceeds from sale of assets of the company like plant, machinery and equipment. It also includes sale of any investments which have been made in another companys shares. The cash outflows from investing activities include purchase of land, plant and machinery, up gradation of existing equipment, buying a stake in another company by taking over its operations, technology and customers. Hence we see that most of the cash flow is in the form of outflow only where the company is spending in order to increase the value of its assets which will rather bear fruits for the company in the future. It is more likely for a cash flow from investing activities to be negative only. Also a company makes short term investments to make profits from increase in the other companys shares. All the investments made today which is resulting in negative outflow of cash will help the company in earning profits in the future and the cash flow will come indirectly from the increased revenues resulting from utilization of assets purchased and this inflow will come from cash flow from operations. Therefore, we can say that it is of no concern to have a negative cash flow from investing activities because the nature of the activity is such that it is rather good to have a negative figure because a positive cash flow means the company has sold off its assets and hence the financial position of the company gets affected in a negative way. A company with higher and useful assets is in a position to generate higher revenues with proper utilization of these assets. c. Annual reports are financial reports which are required to be issued annually by all companies listed on the stock exchange. It contains information related to the companys performance over the year. The growing complexity of the financial information has made the annual reports very complex and difficult to understand as the annual report should present all the information required by different stakeholders who have different demands. The UK Financial Reporting Council (FRC) requires all the companies to present annual reports which are fair, balanced and understandable and it also requires the external auditors to provide a confirmation of the company abides by the same. The UK corporate governance code has been revised to accommodate the above requirement and also states that the directors of the company should take the responsibility of presenting financial information which is necessary for the stakeholders to assess the companys performance and is fair, balanced and understandable. As a result of this requirement, most of the emphasis is laid on the front half of the report which is the narrative reporting as this reporting is meant for an ordinary shareholder which can be understood easily. The back part or the second half is more complex and is often used by analysts for valuation purposes. The aspects included on the first half of the annual report include the CEOs or the Chairmans statement which will gen erally give the positive aspects of the company, the review of operations , risk management techniques discussion and any special news relating to the company. Both good news and bad news should be mentioned in narrative reporting. For a financial report to be understood, it is important that the non financial information given should relate to the companys business model, strategies, and performance. Also it should be linked to the second half of the financial information. In case a company is unable to provide a fair, balanced and understandable financial report, a shareholder who is considered to be an informed reader may file a complaint with the FRC for the company not following the corporate governance code. References Wahlen, J.M., Baginski, S.P, Bradshaw, M., (2010), Financial Reporting, Financial Statement Analysis, and Valuation, A strategic Perspective, South- Western Cengage Learning ACCA, (2015), Accounting for Leases, accessed online on 26th May, 2016, Pwc, (2013), Practical Guide to Corporate Governance, 2013 reporting changes implementation and disclosure Kpmg, (2012), UK Corporate Governance Code (Revised 2012), Audit Committee Institute Fraser, I., Lee, B., (2016), Fair, Balanced and Understandable: Enhancing Corporate Reporting and Assurance? , Research Committee of ICAS Bruce, R., (2008), Financial Reporting: The Trouble with Annual Reports, Financial Times, accessed on 26th May, 2016.