Financial Management Essay Example for Free

Financial Management Essay Introduction In this assignment I will be researching and discussing how to manage my own personal finances. For this I will have to research sources of income and write about different types of employment and unemployment. The affect these have on salaries and wages will also be investigated. I have also been asked to research and summarise allowances and benefits. As part of the management of my personal finances I must produce a personal budget over a specific period of time, on completion of this I will pair with a partner and discuss my findings. Task 3 Why is it important for me to manage my personal finance? * To help not to run out of money * Help me with budgeting * Scarce resource * Savings * Paying bills * Living alone * Managing money is skill Task 4 Jobseekers allowance Jobseekers allowance would be paid to me if I am eligible for it and looking for (seeking) work. I also would have to be age 16 or over to be able to receive jobseekers allowance. This source of income is relevant for me because I am over the age of 16, living on my own and I am currently looking for work. Income support Income support provides financial help for people ages 16 and over, who have low income or no money coming in at all. This money is for people who are not currently seeking work. This money is to help people with day to day living. Income support is relevant to me because this is the situation I am currently living in and I also receive income support myself. Child benefit Child benefit is parents that have children under the age of 16 or children under 19 in full time education. Child benefit is no longer relevant to me because I do not live will my mother any more. Housing benefit Housing benefit helps towards paying my rent which would be my local authority, but they dont cover all my housing costs. Housing benefit is eligible to people who are renting a room or living in a hostel of sum sort. I can apply for this by just going down to my local authority office and filling in a housing benefit form. Working families Tax Credit Working Tax Credit is for people who are employed or self-employed, over the aged of 16 and are working at least 16 hours a week. They also have to have at least one child. In couples, one person has to choose who receives the tax credits. The amount of tax credits they receive will depend on their annual income. Tax credits are not relevant for me because I am not responsible for any children and I am not currently working. Task 5 When preparing for employment the documents I would need: * CV * Covering letter * Application form * National insurance number * Bank details * Qualification certificates * P45 (maybe not for me yet) CV I would need a CV so that the employers get a brief summary of my qualifications and experience to-date. It would include the school and college I have attended. It will also include my past work experience. My CV will now include that I have recently worked at Superdrug. My CV will also have my references. References are very important as the employers may want to contact the referees to confirm I have the qualifications for the job, and if I am reliable and trustworthy enough for the job. Covering letter A covering letter is needed because it is a part of the formal requirement. It will show the employer where I heard about the advert and why I feel I would be right for the job. Application form Application forms are used to help the employer to separate the good candidates from the not so good candidates. They are also used to find out about information and candidates background. National Insurance No. Every one that has the right to work in the UK has the right to a national insurance number once they reach the age of 16. The national insurance number will show what national insurance contributions the worker pays over the course of his/her working life and also the contribution employers have made. Bank details Bank details are required in order for the employer to give you your wages. Wages are now paid by direct transfer from the employer to the bank account of the employee. Qualification certificates Proof of GCSEs and past qualifications are important because the employer will expect me to have certain right qualification in order to have the job. Superdrug have specific qualifications that are required, these are called essential qualifications. Task 6 Types of employment Self employment Being self employed is when you do not work for anyone else you have your own business. For example owning your own sweets shop is self employment. The income of the sweets shop will come from the customers who purchase the sweets. The income may also come from the bank if you borrow money. Freelance Freelancers are a different type of self employment. Instead of owning their own business they sell their services by working for different businesses. For example a freelance hair dresser would not have their own hairdressing business they would get to all kinds of other businesses and do hairdressing. Employee Employees are people who work for someone who controls what work they do. The employer is in charge of the employees income and deducts national insurance from the employees wages or salary. As long as they is someone handling your wages before you get them you are an employee. Task 8 Key points of each job Job title Retail manager Tasks to be carried out Retail managers are responsible for day to day running of department stores, chain stores, supermarkets and independent shops. They look after staff management, including taking on and training new staff, maintaining a good standard of customer care and increasing sales and profitability. Their duties usually include: * Making sure premises and displays are well maintained * Organising stock checking and re-ordering as necessary, through computerised or manual systems * Making sure targets are reached and all opportunities are taken to increase sales and profitability * Organising sales promotions * Recruiting, interviewing and training staff * Dealing with queries or complaints from customers Skills required A retail manager should: * Know the companys products and procedures well * Be committed to providing a high standard of customer service * Be able to lead and motivate a team * Have good knowledge of legal an d security issues * Have relevant commercial skills for business Qualifications required There are no set academic requirements to work in retail, although employers may prefer employees to have at list five GCSEs grades A-C and have some working experience in retail. Useful qualifications would include: * BTEC national reward in retail * OCR certificate in retail * BTEC Higher National Diploma in retail management * Degree in retail management Individual qualities required * Be confident, energetic and quick thinking * Have excellent spoken English and written communication skills * Be able to take responsibility and make decisions * Have a smart appearance * Be organised * Be able to deal effectively with problems and complaints Wage/salary Starting salaries are usually from around à ¯Ã‚ ¿Ã‚ ½12,000 Experienced managers may earn from around à ¯Ã‚ ¿Ã‚ ½15,000 to à ¯Ã‚ ¿Ã‚ ½26,000 Managers of large stores may earn up to à ¯Ã‚ ¿Ã‚ ½65,000 or more. Job title Retail assistant Tasks to be carried out A retail assistant is responsible for making customers feel at ease when shopping and browsing around the store, directing them towards products and accepting payments. This job generally includes: * Restocking shelves and making sure merchandise is presented neatly * Greeting customers and answering enquiries about products * Operating computerised tills and barcode readers to scan items * Accepting payments for goods and wrapping them * Checking for stock items and ordering goods Skills required * To be accurate and thorough, even under pressure * To be trustworthy- they may be dealing with expensive products and large amounts of cash * To understand and follow companys policies for health and safety and hygiene * Stamina, in order to serve on the shop floor for long periods Qualification required Employers set their own qualification requirements. But usually look for good communication skills, a pleasant personality and look for at least to two to four GCSE grades. Individual qualities required * Have an approachable, polite manner * Have good communication skills * Have a smart personal appearance * Enjoy providing a good level of customer service Wage/salary Starting salaries for a retail assistant is around à ¯Ã‚ ¿Ã‚ ½9,000 a year An experienced retail assistant may earn around à ¯Ã‚ ¿Ã‚ ½11,500 a year. Task 9 Why I think I am suitable for each job Retail assistant I think that I am suitable to work as a retail assistant because I have relevant experience within the retail industry. I have recently completed a 2 week work placement at Superdrug which is in the retail sector. During this period I was privileged to be responsible for replenishing stock, providing customer advice and keeping the shop floor tidy. This placement enabled me to develop vital skills such as team working, numeracy and customer service skills which are all needed in order to become a successful retail assistant. This work placement was a part of my BTEC introductory business coarse this qualification will also enable me to qualify to work as retail assistant. Retail manager I am qualified to work in the retail sector as a retail assistant but in order to qualify as a retail manager I would have to finish my BTEC introductory coarse and then go on to study for three more years to receive a BTEC national certificate in business. After this I would then need to go and study a degree in retail management in order to qualify for this job. I have good interpersonal and communication skills and while on my work experience I enjoyed providing good customer service these skills would help me with working toward becoming a retail manager. Retail managers are responsible for day to day running of department stores, chain stores, supermarkets and independent shops this may include Organising sales promotions and recruiting, interviewing and training staff. Task 10 Wage/salary deductions Gross pay Gross pay the amount of money an employee earns before any deductions are made such as tax or national insurance. Net pay Net pay is the money employees actually get for them to spend. National insurance contributions National insurance contributions is an amount of money that the employee has to pay towards there employers this is deducted by the employer from the employees wages. If you are self employed you also have to pay national insurance contribution, this is a small monthly payment and then a lump sum at the end of the year. National insurance code National insurance codes indicate an employees marital status and how long an employee has been working. Income tax There is a certain amount of money that every body is allowed to earn before they have to pay income tax, this is called personal tax allowances currently for people under the age of 65 this is à ¯Ã‚ ¿Ã‚ ½5,225 a year. If you earn any more than this you will have to pay income tax, how much you pay will depend on how much money you earn. Pensions/superannuation Pensions are long time investments that are designed to provide you with money in your old age when you are not able to work any more. The earlier you start your pension the more you get when you retire. Employees are usually offered a pension scheme when the start there job. The employer pays a contribution to your pension fund and so does the employee this is deducted out of the employees wages before it get to them. Union subscriptions A union is a large group of workers in a particular industry or profession. Unions provide benefits such as legal advice and can also provide support in cases of unfair treatment or dismissal. To subscribe employees would have to pay fees this is sometimes deducted from the employees wages before it is received or the employee can pay the fees themselves but it is not compulsory. Task 11 Allowances and Benefits Housing benefit Housing benefit helps towards paying my rent which would be my local authority, but they dont cover all my housing costs. Housing benefit is eligible to people who are renting a room or living in a hostel of sum sort. I can apply for this by just going down to my local authority office and filling in a housing benefit form. This benefits me because its helps me to save money gives me more money to spend on more important things. Council tax Council tax is an amount of money you pay if you are renting out a council property or of you have you own property with a certain amount of people living in there. Council tax paid to pay the council for giving you their service of letting you live in their property and council tax also pay for things like people cleaning the streets. Interest from savings Interest from savings is when you put money into the bank or a financial institution and earn extra money on top. This is called interest. When you get interest you have to pay income tax on that interest, the bank usually deducts the tax before pay the interest. This benefits me because I regularly put savings into my bank account. Inherited money Most people decide to leave money to their relatives when they die, this is called inheritance. Inheritance could be a small or large amount of money and it may be necessary to pay inheritance tax on it. Borrowed money Borrowed money is anything from a loan to a bank overdraft. Money can also be borrowed from a relative or close friend in this case the money you have borrowed is the money you pay back. If you take out a loan or overdraft which is quit a large amount of money this usually involves paying back the money monthly and each month interest is added on top of the money that you are paying. This result in you paying more that you actually took in the first place, it is much wiser that you save your money for whatever you want to get therefore you will earn interest on your money rather that earning it. Working Families Tax Credit Working families tax credits is for people who have at least one child under the age of 16 or 19 in full time education and earn an income which is below a certain level. The person has to be working at least 16 hours a week and must have savings below à ¯Ã‚ ¿Ã‚ ½8000. this does not apply to me as I am not eligible for this because I have no children. Task 14 Explanation of how I planned my personal finances Spend or save As soon as I receive my money I spend it on things that I need such as food shopping and rent. Any money left over would get spent on the gym and my mobile phone then the rest would get put aside as my savings. Gambling Gambling is when you pay money hoping for a chance of winning more money. Doing this is dangerous because you are not guaranteed your money. Gambling is very addictive and if done regularly this could put you into debt that why I choose not to go down this road. Spending habits When I receive my money on a weekly basis I try and spend as little as possible on food shopping so that I have money left over for myself to spend on small luxuries for example a meal out with my friends. I sometimes tend to spend too much on luxuries and this sometimes gets me into problems but I always have someone at hand to help me. Money and lifestyle At the moment the amount of money I receive doesnt allow me to have the best of lifestyles but it is enough to put clothes on my back and to buy me shopping every week. To achieve the lifestyle I want I would need to find at least a part time job so I can earn more money than Im getting now. My expectations of work and money As long as I have enough money to buy me some food and to pay the rent I am ok for the moment. But I would like a bit more than that for example going on holidays and buying the latest clothing. To do this I would need to find a job and also make sure that I handle my personal finances correctly and do some budgeting for these luxuries. Short term accounts Every week I receive my income support into my bank account. I am currently using a current account all my bills are paid out of this account and all my Ema payment come into this account. I also have a short term savings account which I put money into every week. I use this account when I run out of money or need to pay for something important e.g. phone bill. Long term accounts A long term savings account is an account that allows you to build up interest on money that you are saving over a number of years. An example could be an ISA, this is an individual savings account because it is tax free provided the amount saved each year doesnt exceed à ¯Ã‚ ¿Ã‚ ½3,000. The interest is cumulative which means the amount of interest plus capital will increase year on year. Another example of a long term account is a bank loan. A bank loan is usually drawn over a long period. This is a lump sum of money that I borrowed from the bank and paid off over a long period of time. For example a mortgage is paid over a period of 25 years. Cheque book A cheque is a promise to pay someone in place of cash. When you are writing a cheque you write down exactly how much you are going to pay the person. The person then takes the cheque to the bank and waits for it to clear this takes between 3-5 days. It is important to make sure that you have the right amount of money in your bank so you dont go into debt. It is also important to keep a record of any cheques that have been written, this can be done by using stubs which are left in the cheque book after you tear it out to pay someone. The stubs are there so that you can note down the details of the cheque and will help keep track of your money. Credit cards A credit card is a card that you can use to pay for items of clothing or products. This card however gives you money on it but you have to pay it back you are also given a credit limit. To avoid spending more money than you actually have you should usually pay back the money within a month if the money is paid after this you will be charged interest. If you go over the limit that the company has given you interest will also be added. Also you can check how much money you are spending by checking a mini statement that you can get from a cash point. Debit cards Debit cards are cards that have your own money that you put on to the card. You can use this card to purchase virtually anything but instead of having a credit limit of borrowed money you are actually using your own money to purchase goods. A debit card allows you to take cash out of ATMs if you have enough money in your account. To see how much funds you have in your account through an ATM you are given a pin number by your bank to memorise this then allows you to draw cash from the machines and purchase items in shops. To check that no-one is stealing from you or to make sure you are not spending more money than your supposed to it is good to check your bank statement each month these are sent to you by your bank. The bank statement show how much money you had in your account originally, then show all payments that were taken out of that money. You can then check if there are any payments that you are unsure of or if any mistakes were made in you transactions. Paying bills Bills can be paid using direct debit or standing orders. This is when you money is taken out of you account and paid to a business for example, BT telephone company at the same time every month. This can help with budgeting, as you will know how much money is going out every month. To check that you are not paying out more than youre supposed to you can check the phone bill you receive every month. Remaining in credit It is important to manage your account carefully to ensure you stay in credit. You must make sure that when you making payments such as cheques and debit cards you have enough money to make those payments. If not you account will go in to debt and you will be charged fines for doing this, it will also build up a bad credit rating which will make it hard for you to get a mortgage or a credit card in the future. Task 16 Summary of holiday budget activity Why do you think it is important to manage your personal finances? I think it is important for me to manage my finances because it helps me to pay all my bills on time without getting into to debt. It also allows me to put money aside for unexpected emergencies. Managing my personal finances is a very important skill. This skill is extremely important if I would like to start my own business or borrow money from a bank. Managing my money correctly will enable me to live quiet a prosperous life in the long run. Did you find it easy or difficult to manage the finances given in exercises? give reasons I found managing finances quiet hard because you have to keep track of the money coming out of my income every week and there were a lot of different bills to pay and they were all different amounts. I also had to keep track of my spending at the same time to make sure that I didnt get into debt this was really difficult because you can get carried away when your sending your money on luxuries. After all that I have to calculate the total regular expenditure and then work out if I had any money left over to put aside as savings, overall this task was very challenging but it taught me a lot about how to manage my own finances. What did you learn from the exercise on budgeting over a period of time? From doing the budgeting exercise I learnt that saving the little scraps of money here and there builds up into to something big. Also cutting down on luxuries also helps in the long run because the money you have saved enables you to get those luxuries if you just give time. This budgeting exercise also taught me how to calculate my net cash flow which I previously did not know how to do. I also learnt that budgeting is important for everyone because it stop many people from getting into to debt and also helps them to save considerable amount of money. Bibliography BTEC introduction business-published by Heinemann in 2005 Heinemann Educational Publishers Halley Court, Jordan Hill, Oxford OX2 8EJ ISBN 978 0 435401 21 4 John Ruskin college intranet site Unit 6 Financial Management

Final Exam Guide Essay Example for Free

Final Exam Guide Essay Question 1: How would you define successful leadership? What standard do you apply when evaluating leadership success? Is it possible to predict success based on organizational cultures or other factors? Provide examples to support your answer. Solution: Successful leadership is the ability to channel and coordinate the energy of the group to attain the desired goals of the business. It is the capacity to motivate and inspire followers to go beyond the distance of their perceived limitations, to rise to the challenges of the task at hand, and to seek out innovative and novel solutions. In a word, success leadership is empowering. As Eleanor Roosevelt once said, â€Å"A good leader inspires people to have confidence in the leader; a great leader inspires people to have confidence in themselves.† A successful leadership can be evaluated by the following standards: a) Example – A successful leader leads by example, which is the key to authentic leadership. This is demonstrated by working hard, making difficult decisions, taking risks, and personal sacrifices. b) Integrity – There are no shortcuts to success. A successful leader is honest, dependable and uncompromising on his or her work and business ethics. c) Solid goals – A successful leader has solid goals and direction, which are communicated to the team. The leader makes the team identify and take ownership of the business’s goals in order to motivate them to achieve these goals. d) Knowledge – A leader is equipped with knowledge and skills necessary for the enterprise. The leader leverages the team’s best chance of success by knowing and understanding the obstacles, competition and risks present in an endeavor. e) Autonomous – A successful leader provides for autonomy by empowering the members to think, innovate and own the solution to a problem. f) High Expectations – A successful leader expects a high level of excellence from the team. Expectations create results; people want to proud of their work. However, high expectation does not mean perfection. Rather, it is learning through experience and errors, and being accountable for one’s mistakes. g) Humility – A successful leader knows the value of  teamwork and gives credit where it is due. Leadership is not about personalities; it is about directing the group’s efforts toward the completion of an endeavor. h) Execution – A successful leader has the discipline to get things done. He or she can bridge the gap between theory and actual execution of a plan. Nagavara Ramarao Narayana Murthy is an Indian businessman and co-founder of Infosys, which was founded in 1981. Mr. Murthy served as CEO of Infosys from 1982 to 2002, and as chairman from 2002 to 2011. He stepped down from the board in 2011, and became Chairman Emeritus. Mr. Murthy embodies the ideals of a successful leadership. He is a top leader, an institution builder, and an IT legend. He empowered his executives, management team and workers. He encouraged and nurtured leadership qualities in the organization through mentoring and training. He institutionalized ethical values of honesty and integrity throughout the organization. Question 2: What methods exist to develop leaders in an organization? What methods does your organization use? Why? Have any methods been counterproductive? In what ways? Solution: There are various approaches to leadership development in an organization that will be briefly describes as follows: 1) Formal Development Programs – In its basic format, a formal program consists of a classroom seminar covering basic theories and principles of leadership. It can be in the form of a tailored development program fitted to serve the needs of the specific organization. It can also be open-enrollment programs offered by private and academic institutions. 2) 3600 Feedback – This is also known as a multi-source feedback, and a multi-rater feedback. This method involves systematically collecting assessments of a person’s performance from different sources, which typically consists of supervisors, peers, subordinates, customers, and other stakeholders. 3) Executive Coaching – This method is defined as a practical, goal-oriented form of personal and one-on-one learning. Coaching is usually used to improve individual performance, enhance a career, o r work through organizational issues. 4) Job Assignments – This method works under the assumption that experience is the best teacher. This method trains would-be leaders in an organization by giving them a variety of job assignments that will expose them to different work environments; hence, it allows them to adapt, and become better  strategic thinkers. 5) Mentoring – Mentoring programs typically pair a senior and a junior manager, but pairing can also occur between peers. Mentoring involves advising and passing on lessons learned from the senior to the junior partner. 6) Networking – Some organizations include development activities designed to foster broader individual networks for better connection with partners in a global community. Leaders are expected to know not only the in and out of the organization, but also know who in terms of problem-solving resources. 7) Reflection – Introspection and reflection can foster self-understanding and understanding from lessons learned from exper ience. In leadership development, reflection can be used to uncover a person’s hidden goals, talents, and values, as well as their impact on a person’s work. 8) Action Learning – This is a project-based learning method characterized by a continuous process of learning and reflection, aided by colleagues, and with an emphasis on getting things done. This method connects individual development to the process of helping organizations respond to major business problems. 9) Outdoor Challenges – This is a team-building experience in an outdoor or wilderness setting, designed to overcome risk-taking fears, and to promote teamwork and leadership skills. Our organization uses formal programs to develop leaders. Recognizing that a classroom-based learning, while easy and flexible, is limited in the actual transfer of competencies, the formal program serves as a shell under which various development methods are incorporated. Hence, the formal program is structured by combining theoretical learning and problem-based learning. Then, a 360-degree feedback is given to each participant, which serves as a basis for an in-depth reflection. For most people, the 360-degree feedback is difficult to handle for several reasons. The primary reason is an inherent resistance to change. Another reason is the overwhelming amount of data, which can be complex, inconsistent, and difficult to interpret and translate into an action or behavior that can correct a given problem. Mere knowledge and acceptance of one’s developmental needs are not enough to bring about change. There is a need for follow-up guidance and support. That is why participants are also given short-term coaching to identify specific areas of concern and how to resolve these concerns. Question 3: In The Art and Science of Leadership, Nahavandi writes about the dark side of power. Provide an example. What organizational factors contributed to the leader’s behavior? What were consequences of the behavior? Solution: Nahavandi cites corruption as the dark side of power. An example of a scandal that shocked the corporate world was the case of the German engineering giant Siemens in 2006. A regulatory investigation revealed that hundreds of employees, spearheaded by Siemens’ top executives, had been siphoning millions of Euros into bogus deals to pay massive bribes to government officials and business contacts to win contracts in Russia and Nigeria. A trial judge described the scandal as a blatant disregard of business ethics and a systematic practice of organized irresponsibility that was implicitly condoned by management. The scandal resulted to the departure of Siemens top executives, including then CEO Klaus Kleinfield, who was later convicted of corruption, placed on probation for 2 years, and fined 160,000 Euro for his complicity. Hans-Werner Hartmann, who was the accounting head in the company’s telecommunications arm, was also placed on probation for 18 months and fined 40,000 Euro. The scandal cost Siemens around 2.5 billion Euro to pay for fines, reparations and damages. The firm was also barred from dealings with certain clients. The cost to Siemens’ employees, who had to endure intense public scrutiny and shame, is difficult to quantify. Organizational factors that contributed to a culture of bribery within Siemens were identified as follows: an aggressive growth strategy that compelled managers to resort to bribes in order to meet performance targets; a complex and matrix-like organizational structure that allowed divisions to operate independently, with no established checks and balances; poor accounting processes; a corporate culture openly tolerant of bribes. It should be noted that bribes were tax-deductible, and were the norms, not the exceptions, in German business practice at that time. Question 4: What obstacles exist for leaders involved in participatory management? What methods may a leader employ to overcome these obstacles? Solution: Participative management, also known as employee involvement and empowerment, encourages the participation of all the organization’s stakeholders in the analysis of problems, development of strategies, and implementation of solutions. While participative management seems like a utopian ideal, leaders face many obstacles in its effective implementation. One obstacle is encouraging the participation of employees in the managerial process of planning and making decisions. Employees may not fully participate due to lack of competencies, lack of confidence, and fear of rejection. Another reason is the employee’s lack of trust that his or her contributions will be valued. The presence of tension and rivalry among employees are also barriers to effective communication, and ability to work together. Leaders can address these issues by being sincere in their desire to implement participative management. Leaders should strengthen communication within the workplace, and initiate team-building activities to strengthen bonds between peers, and between employees and management. Training programs should also be initiated to develop employees’ competencies, leadership skills and self-confidence. Once employees are fully committed to engage in participative management, other obstacles arise, which includes the amplification of the complexity of the organization’s activities and the growing volume of information that managerial decisions are based on. These can lead to difficulty in getting things done, and slow response time to issues that need fast reactions and actions. Leaders cannot solve these obstacles alone; these require the concerted effort of the entire organization. However, leaders can take the lead in delegating responsibilities to reduce the hierarchic levels in the organization, and to decentralized authority so that the organization can respond to issues quickly and efficiently. Leaders can also establish quality circles, which are composed of around 8 to 10 employees along with the supervisor who share areas of responsibility among themselves. These circles can meet regularly to discuss problems in their respective areas and  brainstorm for solutions, which they can later present to the entire organization as a fully developed action plan. In this way, the complexity of participative management is simplified. Another obstacle to participative management concerns security issues. It is harder to ensure confidential information stays within the organization when more people are involved in managerial decisions. This confidential information can include patents, and product research and development. Leaders can address this obstacle by motivating employees to be accountable for their actions and to stay committed to the company by valuing their contributions. Question 5: What are some reasons employees and managers resist change? As a leader, what methods would you use to help employees and managers adapt to change? Solution: Adaptability to change is a prerequisite to become successful in the modern world characterized by increasing global awareness and fast turnover of technology. Organizations must respond to change and be willing to change to retain their competitive edge and relevance. However, implementing organizational changes are daunting for leaders, not least because most employees and managers resist change. The common reasons why employees resist change are the following: change promotes fear, insecurity and uncertainty, difference in perception and lack of understanding, reaction against the way change is presented, cynicism and lack of trust, and threats to vested interest. In order to overcome resistance to change, leaders can involve workers in the change process by openly communicating about the need for change, providing consultation to alleviate employees’ fears, and being sensitive to employees’ concerns. In order to implement change, leaders must decide on the method they will use to overcome resistance to change, and modify behavior. The three-step approach is an example of such a method; it is characterized by three basic stages: unfreezing, changing, and refreezing. 1) Unfreezing: Most people prefer to maintain the status quo, which is  associated with stability, rather than confronting the need for change. The starting stage, therefore, of a change process must involve unfreezing old behaviors, processes, and structures. This stage develops an awareness of the need for change, and the forces that supports and resists change. Awareness is facilitated with one-on-one discussions, presentations to groups, memos, reports, company newsletter, seminars, and demonstrations. These activities are designed to educate employees about the deficiencies of the current set-up and the benefits of the replacement. 2) Changing: This stage focuses on learning new behaviors, and implementing the change. Change is facilitated when employees become uncomfortable with the identified deficiencies of the old system, and are presented with new behaviors, role models, and support structures. 3) Refreezing: This stage focuses on reinforcing new behaviors, usually done by positive results, public recognition, and rewards.

Critical Analysis Of Two Japanese Designers

Critical Analysis Of Two Japanese Designers In the 1960s, Japanese designers came out from an economic and industrial boom. This was the beginning of the first Asian invasion of the fashion world and by the early 1980s, Rew Kawakubo and Yohji Yamamotos names were wildly popular. Rei Kawakubo and Yohji Yamamoto were the first few Japanese designers that found admiration for Japanese art and idea of modernism through the channels of developing technology, visual imagery and three dimensional figures. They first made a real impression on the fashion world in 1982 with the creation of the Japanese aesthetic. Their entry into the international fashion scene was not only puzzled but was fascinated by many in the fashion industry. This paper will discuss the significance of the designs by Rei Kawakubo and Yojhi Yamamoto on the international fashion catwalks in the nineties with relation to the specific methods of construction and materials they used in their collections. While Kawakubo and Yamamoto have a distinctive point of view on fabric deconstruction, however the two designers share a commonality for creative artistic design collaborations in developing their collections, marketing and image. Evident in Kawakunos designs was the exaggerated and hyperbolic manufactured aesthetics. She collaborated with architecture, Takao Kawasaki, which bought about the designers first Comme des Garcons boutiques (da Cruz, 2004). Kawakubo had a longing to make garments that was an ever changing result of its social cultural environment, showing both the Neo-realism and Futurism in her runway collections and marketing (da Cruz, 2004). Yamamoto on the other hand, was loyal to the Japanese cloth traditions and was famous for his kimono-inspired trench coats and shirts. He had a desire for the pure geometric forms of pure clothing and found ways in integrating modern sportswear constructions into his designs. This technique brings a postmodern street chic feel to his designs and also has the important role of protection and durability. The evolution of fibre technology with the tonal and textual eclecticism gave way to show designers how important their uses of raw materials were in their designs. With the continual movement in fabric and structure of clothing, it directed the concept of drapery in Yamamotos designs and the shrouding, texturing and layering techniques in Kawakunos designs. Seeking to redefine the universal concept of beauty in fashion, Yamamoto demonstrates through the preference for asymmetrical shapes, oversized clothes and models of all ages, challenging the norms of perfection, and body. Most evident was in his refusal to use the traditional forms of feminine glamour and sex appeal through make up, heels, skin baring and fitted clothes. Yamamotos design creations revolutionised the Western fashion for women with its structured figure hugging clothing that sexualised the female body. He also designed garments that wrapped the female body with fabric, ignoring the usual accentuation points and moving the attention to the back. The fashion silhouette and the body/clothing relationship changed from this point onwards. Yamamoto created designs based on breaking down mens clothing to form graceful and stylish womens garments, by playing his garment, he exhibited challenging ideas of how women faced both masculine and feminine sides of being a woman. Many were fascinated in his work of challenging the ambiguity of gender whether this was through the women models in his menswear shows or his refusal to follow the traditional Western definitions of womens wear and menswear. Kawakubo studied fine arts and literature and being untrained as a fashion designer, she communicated her ideas to her patternmakers. She employed the romantic subtleties of historic fashion but yet champions cold synthetic fibres in her finishing designs. The piece that most resembles this tendency was the lace sweaters from the Comme des Garcons fall/ winter 1982-1983 collection. It featured black wool knits distressed with gaping holes to invoke the composition of lace (da Cruz, 2004). She created designs intentionally to create a look that seemed incomplete and had been worn, in order to create something different and extraordinary by resisting to common sense and provide stimulating challenges to the idea of perfection (Kawamura, 2004). The initial reactions of the public look upon with distaste, however over time they grew to admire and astonished with her designs and the look she wanted to create (Baudot, 1999). Kawakubo (in Ayre 1989:11) states that Perfect symmetry is uglyà ¢Ã¢â€š ¬Ã‚ ¦ I always want to destroy symmetry, this was postmodernism applied as its best to fashion. Kawakubo did not apply the traditional clothes- making or fashion design institutions to her work and worked against what was seen as how traditional designers should design. She was one of the first to show designers that the going against the normal processes can also be accepted. Yamamoto often experimented with innovations in technical textiles and new synthetic sand also implemented unconventional natural materials in his designs. According to Yamamoto, I start with the fabric, the actual material, the feel of it. I then move onto the form. Possibly what counts most for me is the feel. And then, when I start working with the material, I think my way into the form it ought to assume. (Vinken) He blurred the boundaries between prà ªt a porter and haute couture fashion (Duncan, 2007). When Yamamoto first started designing clothes, he knew there were two ways. Firstly by working with formal classical shapes, and secondly being casual. Thats what I decided on but I wanted a new kind of casual sportswear that could have the same status as formal clothing (Menkes, 2003). In his 1991 fall/winter collection, a vest and skirt outfit was made entirely of hinged wood slats. This established his dedication to communicating the raw visual distinctions as a designer he w as (da Cruz, 2004). Yamamoto was characterised as hang an anti fashion approach by creating often sculpted asymmetrical, often oversized shapes that are layered and usually black. He was influenced by traditional indigenous Japanese clothing and by historical Western uniforms and industrial work wear. In other words clothes that is functional. His original look was based on his desire to give the kimono a new shape and energy (Duncan, 2007). Paris had a strict couture tradition and bourgeois heritage and was shaken by the vision of Kawakubos work- it was regarded as minimal and nihilistic. In contrast with the opulent gowns, tailored suits and gentle colours of designers like Dior, Kawakubos collection consisted of trousers with sweater cuffs around the ankles, tunics that transformed into shawls, oversized overcoats and shapeless knitwear constructed with holes. She regarded the conventions of fashion as a necessary evil. Kawakubo had an obscure approach to clothing construction echoing the concept of a visual artist more than a fashion designer. She often attempted to translate art styles into clothing- minimalism, abstraction, postmodernism and deconstruction. Kawakubo was praised and criticized for pushing the fashion boundaries forward. Also famous for simple, functional elegance but yet sexy, Yamamotos early garments relied solely on the irregular details like uneven hems and collars, hems with zips, cut outs, pockets or flaps. The label inside stated: There is nothing as boring as a neat and tidy look (Mitchell, 2005). Creating designs that would disagree from the traditional Japanese design philosophy that values the asymmetry and irregularities of nature. Yamamoto believes perfection is ugly, and symmetry not sufficiently human and desires for the scars, failure, disorder, distortion in people to come out and be shown (Duncan, 2007). In the late eighties, his designs evolved into a more structured and fitted silhouette outstanding for their cut, craftsmanship and material originality. From the nineties onwards, his collection displayed a more Westernised fashion aesthetic and showed his ongoing romantic references to historical French couture styles from the Belle Epoque bustle to classic fifties Dior (Duncan, 2 007). During the time where French couturiers ruled the fashion world, black was not considered a colour for day wear; Yamamoto and Kawakubo challenged this norm. Yamamotos designs were consistently monochromatic with emphasis on black. The occasional off white, red, purple, brown and dark blue would make an appearance through his collections but black were usually his preference for his creations. He favoured black because he described black as modest and arrogant at the same time. Black is lazy and easy- but mysterious. It means that many things go together, yet it takes different aspects in many fabrics. You need to have a silhouette. Black can swallow light or make things look sharp. But above all black says this: I dont bother you- dont bother me.'(Duncan, 2007) Like Yamamoto, Kawakubo was also famous for the love of black. She was famous for designing in many shades of black rather than black alone. Her autumn 1988 collection was burst with colour, declaring Red is Black (Quinn, 2002). She has continued to move away from black fabric and stated that its popularity among other designers has diminished its power. Black is no longer strong and has become harder to use, Kawakubo said in an interview with Susannah Frankel (Quinn, 2002). Designers in the 1980s, sought engagement with everyday life, and found inspiration in people the real world. Likewise, Yamamoto also sought a distinct relationship with women who wore his clothes. By looking at the pre-modern consumer, he envisions people dressing for their role in society. Parallels are seen in his desire to make costumes for working women, and how his clothing looked like they have been lived in, as though it had a passion for the past and the hatred for what was new. Both designers broke clothing rules, against the custom 1980s haute couture opulence, traditional ideas of beauty and gender. Yamamotos talent allowed him to construct shapes and forms that naturally adjust with a womans contours and movement. His garments showed Yamamotos commitment to creating fresh and new silhouettes through his sculptural cross-examination of shape and material. This mean his clothes were easy and comfortable to wear. Yamamoto believed the essence of a woman is in her joints (Yamamoto). He tested his boundaries of designs by using his techniques of cutting and cut outs which puts him in par with modern couturiers like Pierre Cardin. His creations were rarely cut close to the figure and this was as fundamental component of Yamamotos designs. Yamamotos design philosophy was there should always be some interaction between the body, the wearer and the essential spirit of the designer. His focus was always on the shape of a feminine body when designing and believed, by looking at the clothes someone is wearing, you are able to get an idea of the personality of a person (Duncan, 2007). Kawakubos talent is working with both deconstructed and reconstructed the vernacular of Western tailoring. In contrast with Yamamotos passions for producing functional clothing, Kawakubo deconstructs clothing by disregarding its function. One of the most famous was a dress that had no openings, making it possible to put on. But Kawakubo insisted it could be worn and was offended when told it could only be used as an apron. She focused on using jacket lapels to design halter neck jackets and scarves. Her mens suits consisted of cropped trousers with double- breasted sports jackets with shawl collars and bleached classic checked fabrics. She challenged the concept of fashion having to be beautiful by slashing and shredding her silhouettes while other designers were cutting and draping theirs. Her habit continued onto adding more than two sleeves to a shirt and turning shapes upside down or inside out, baffled the fashion world but turned her into a pioneer of her stream. Many of her cl othes are also designed to be worn in a variety of unconventional ways. This pushes the boundaries between occasion- specific wear and everyday wear to end (Quinn, 2002). Yamamotos gift was combining traditional Japanese garments, with the use of both the kimono and the obi combined with Modern Western Fashion everyday wear clothing. By creating classical garments which were both sensual and appealing. In his spring /summer 1993 collection, he experimented with new fabrics using the Thai and African fabrics. His designs always stressed the importance of raw materials, enabling him to learn and discover different tones and textures in his work. While he often engaged in working with new fabrics, Yamamoto also used natural fabrics like linen and Herringbone woollen fabrics. While he often said oriental fabric was boring and dull, In Yamamoto 1995 Spring/ Summer Collection he was able to counter this by creating a kimono from exotic flowing gowns inspired by the Japanese art of dying fabric. Through the commonly shared ideas and presence of Yamamoto and Kawakubo on the international catwalks, at first appeared to shake the foundations of the established fashion capitals but in reality have reinforced the supremacy of fashion. Participating in the international fashion catwalks earned them the social, economic and symbolic capital that enabled them to differentiate themselves among other Japanese designers. Kawakubo and Yamamoto have continually put forth their ideas which, in turn significantly contributed and boosted the rise of Japans fashion industry by communicating its visual and artistic designs to the fashion world. Despite their provocative collections, they have revolutionised the industry and paved a way for Japans influence on fashion, easing the path for younger Japanese designers and to a larger extent to the acceptance to Asian designers, in a world previously closed off to them. In respective to the collections, both designers have linked their differing i deas from Western fashion, with the use of Japans rich visual heritage as a foundation for aesthetic, social and political collection of cultures around the world. Kawakubo and Yamamoto runway designs strive towards theatricality, luxury visual and organic movement (da Cruz, 2004). Black is now a palette for day and night wear and both designers have become the leaders of the avant-garde. Today, the dark silhouettes in distressed fabrics common in both designers are worn by women all over the world. Over the past 30 years, Rei Kawakubo and Yohji Yamamoto have proven to the international fashion world with their revolutionary work, proving that Asian designers could be inspiration to others. Cotton dress, Rei Kawakubo Comme des Garà §ons, Autumn/ Winter 1984. Kyoto Costume Institute collection. Photo by Takashi Hatekeyama, courtesy KCI. Felt dress, Yohji Yamamoto, Autumn/Winter 1996. Kyoto Costume Institute collection. Photo by Takashi Hatekeyama, courtesy KCI

Creation Stories Essay -- Creation Beginning Life Religion Essays

Creation Stories   Ã‚  Ã‚  Ã‚  Ã‚  Where do we come from? The creation of the world has for centuries been told through many different stories, in different languages, and from a variety of religions across the world. The founders of each religion developed every creation story, and as religions vary greatly in beliefs, so do their stories of how the world and mankind were created. Although many of these creation stories differ, they have a close mystical and spiritual bind that brings people together. Two particular creation stories from very diverse religions are that of the Native Americans and the Christians. Unlike Christians who worship one god, Native Americans worship two high gods as well as a variety of natural and supernatural forces. Although both stories may differ from one another in determining their belief of creation, they both are similar in which both religions believe that through ceremonies and worship that they will be at harmony with god. Through their creation stories we can interperate their understanding of the world around them, how they view life, and how they are compatible and incompatible with one another.   Ã‚  Ã‚  Ã‚  Ã‚  Native Americans believe that all things of nature have a spiritual value in life, they use animals, insects, plants, and other forms of nature to symbolize spirits in their stories. Native Americans have a variety of creation stories in which different tribes depict how they believe the world and evolution came to be. The Osage tribe has a creation story in which the world is emerged out of chaos; the Seneca tribe has a creation story in which the world came together through a clash of good and evil. The creation story that is found in many tribes is that of ?Inktomi?, also known as ? spider woman? whom they believe created earth and life. They believe that spider woman spun a line to form the east, west, north, and south, from which came the Four Corners of the earth. Those who had forgotten the gift of her thread would drown in the great flood she sent, but for those who remembered they floated to the New World and climbed unto the safety of mother earth. The N ative American creation story reveals that they understand the world to be a place of equality. In the following passage the creation of man is depicted from the use of different clays: ? Spider woman used the clay of the earth, red, yellow, white, and black, to c... ... But for some Native Americans they believe that when they die their soul takes form as a part of nature, whether a bird, tree, or wolf, and like their ancestors they will provide as a guardian for their people after them.   Ã‚  Ã‚  Ã‚  Ã‚  After learning of the varying stories that the Native American and Christian religions depict of creation, I have come to the conclusion that they all have a similarity with one another despite their other differences. They both have the belief that a higher force, for the Native Americans it was the Spider Woman and for the Christians it was God, created the earth and humanity. For religions such as these the scientific explanation of creation holds no importance in their lives, because their faith and teachings of their creation story justifies their belief. Across the world the cultures, languages, and beliefs that separate people from one another are erased when it comes down to the story of our beginning, our creation story. Like seen in the compatibalities of the Christians and Native Americans their creation stories have for centuries interpreted their understanding of the world around them, spiritually binding people from all religions together.

Business Management Essay -- Business Management

Business Management   Ã‚  Ã‚  Ã‚  Ã‚   The world of business has undergone radical and dramatic changes in the last decade changes that present extraordinary challenges for the contemporary manager. A manager is an organizational member who is responsible for planning, organizing, leading, and controlling the activities of the organization so that the goals can be achieved. According to a widely referenced study by Henry Mintzberg, managers serve three primary roles: interpersonal, informational, and decision-making. Management is process of administrating and coordinating resources effectively and efficiently in an effort to achieve the goals of the organization.   Ã‚  Ã‚  Ã‚  Ã‚  The concept of management within an organization typically occurs in an organizational setting. Organizations compromise a group of individuals who work together toward common goals. The concept of management within an organization can also be looked upon as a context as well as a process. Within the process of management there are four major functions planning, organizing, leading, and controlling. Managers at all levels of the organizational hierarchy must engage in planning. Planning involves setting goals and defining the actions necessary to achieve those goals. In planning the top-level manager establishes the overall goals and strategies for the organization. While on the other hand the other managers in the hierarchy develop operational plans for their work groups, which has a responsibility to help the organization. All the managers must develop goals that are supportive in the over all strategy of the organization. Organizing involves determining the tasks to be done, which will do them, and how those tasks will be managed and coordinated. Managers of an organization have to put a work team together so that proper information, resources, and tasks can flow properly and efficiently in an organization. Managers should be able to lead the members of their work groups toward the accomplishment of the organization’s goals. Leading is defined as motivating and directing the members of the organization so that they contribute to the achievement of the goals of the organization. In order for leaders and managers to be effective they must understand the dynamics of individual and group behavior, to be able to motivate their employees, and be effective communicators. It is said that a good ... ...by using job rotation; job rotation is the assigning of jobs to individuals to a variety of job positions once they have mastered their original job. Another way to help an organization or manager in dealing with quality is by assigning self managed teams. A self-managed team is a group of employees who design their job responsibilities to achieve the self-determined goals and objectives of the team. With these teams the organization may be able to run more smoothly and less pressure will be on the middle manager, or the first-line manager. Finally another way to control quality effectively is by using (TQM) total quality management. Total Quality management is a systematic approach for enhancing products, services, processes, and operational quality control.   Ã‚  Ã‚  Ã‚  Ã‚  Quality is a very important thing in an organization; therefore it is not possible to improve the quality of a product or service substantially without major changes in all aspects of the organization. Because quality is so important if changes aren’t made throughout the organization the output of the product will no be very successful. Everyone in the organization plays a major role in the out come of its products.

bridging the gap for womens wages :: essays research papers

Bridging the Gap for Women’s Wages â€Å"Somehow, the unsexy issue of the paycheck—equal pay for the same or equivalent work—dropped off the economic agenda. But it never left the minds of women† (41). In her article entitled â€Å"A New Campaign for Pay Equity,† liberal columnist Ellen Goodman outlines the problem concerning the wage gap between men and women. By describing the present position of the wage gap, Goodman points out that there are things being done by the government for the wage gap, which include enforcing the laws that are in existence and suggesting that jobs of equal value be paid equal wages. Goodman then states that, even though laws are in place and goals have been announced, there is still a considerable slack in the government's progress. She holds that the laws are not being enforced as well as they could be and that society needs to transform the way it views the value of women's work, or just work in general. "Underlying the new campaign for pay equity,& quot; Goodman emphasizes, "are attitudes that are changing faster than wages" (41). Here, she suggests that people are beginning to ponder why women's wages are lower. Goodman explains that in order for the issue to be solved, the changes will have to begin on a state level and move up to the national level as momentum and support are gained. Goodman concludes with an astounding statistic: Because of the gender gap, women's families lose $200 billion each year. This statistic helps Goodman enforce the idea that although there are improvements afoot, "[. . .] half a cent a year just won't cut it.† I can honestly say that the first time or two I read the essay, I found it hard to formulate an opinion on the topic covered. At first, I thought that maybe Goodman was victimizing women and just complaining. But the more the class delved into the topic, the more I saw that it was truly a problem in our society. My mother has worked in the same printing factory for more than twenty years. She started at the age of eighteen, at the lowest position possible and has worked her way up to becoming the second-most powerful person in the plant. Her title is Production Supervisor and she is the only woman supervisor in the company. In fact, there are only a small number of women that are not working as temporary employees in her company.

Independent Employer Essay

An independent contractor is the worker whose taxes are not withheld or paid by the employer. Joshua is an independent contractor not an employee. Elements such as behavioral, financial and type of employment relationship will help us in determining who Joshua is. First, the Ark Bark has no full control over what Joshua does. This is evident from the point that he still deals with the other business enterprises as the sales person and even the VP of the company Fred Flood accepts the fact the Joshua makes his own decisions about his work in the company. Schneir and James (1999) view a person whose duties are not controlled by the company as an independent contractor. Dealing with the financial issue, we can vividly see that the business aspects of Joshua’s job are not fully controlled by the Ark Bark. Though, there is a bit of confusion in this area because Ark Bark chipped in to foot the travel expenses, business cards among others. These are just minor expenses. If he was an employee, he could have not incurred the greater business expenses, instead the employer could. The type of employment relationship also confirms that Joshua is an independent contractor. First there is no written contract for the contract between the two parties. Broadhurst Emily holds that, even though one can enter into a contract with the employee even minus a written document, it is mandatory that the person be provided with the staff handbook. Joshua’s claim that he was still winding up with the former companies was illogical for an employee. For one to be an employee, the contract between the employee and the employer is never gradual. Therefore, the fact that he accepted the contract while still holding onto the other jobs indicates that he was an independent contractor, who is not under any obligation of Ark Bark. What the company could do to make Joshua an independent contractor. If the company had an intention of making Joshua an independent contractor, they ought to have laid a better business contract for him. It was the duty of the company to keep to the employment Act of 1963 (passed in 1972 Act). This Act defines employees must be given written evidence on the major issues related to terms of employment, this include the mode of payment. This could have saved the controversies erupting over with the $2,500 was a salary or commission The company could as well fill the form SS-8 (PDF) with IRS to be certain about the work status of Joshua for the purposes of taxation. According to Barry and Jeffrey (1992), the form critically reviews the workers status based on the circumstances of employment. It was unnecessary for the company to provide other services like paying for printed stationery and business cards and travel expenses, when they intended to make him an independent contractor. Doing this creates some confusion since for an independent contractor; the company should not provide any tool of operation for the worker. This kind of confusion is tackled in Philip Inman’s (1999) scheme regarding payment between contractors and the employers. Are there ethical issues in the company’s action? No, there are no ethical issues involved. The way the company is trying to treat the man is unethical, according George Richard’s (1999) opinion on business ethics, even if the contract was made orally, it was better for the business to provide a staff handbook or any other written material indicating the terms of employment. The company breached law of a fair employment contract. Actually, if the intention of the company was to have Joshua as an independent contractor, what was the need of terminating his services when he claimed that he was winding down his links with the former companies? This is ethically unaccepted because it leads to harassment. According to Bowie, Norma (1999), business should not be accompanied with harassment. It is not very clear that why Joshua was terminated. But the obvious reason is due to the poor relationship between him and the company. Broadhurst Emily (2005) argues that such an act is unlawful since the law provides protection against unfair dismissal. Other than terminating his services, the company could have embarked on solving grievances at the work place as described by Broadhurst Emily. This could better their relationship instead. Is there room to alter the relationship? Yes there is room to make things different, but very limited. I say very limited because, Joshua is already out of Ark Bark company. If he was still a worker in the company, the company could simply revise the relationship bit, translate the contract in writing and forward details to the IRS. This could justify whether Joshua is an independent contractor or not. At the same time, I say that there is limited room since there are no legal issues preventing Joshua from re-applying to be an employer of the company. The success or failure of the re-union lies with the two parties.