What are the factors that have caused British political parties to change their policies on the EU since 1970?

Abstract There are a number of different factors that have caused British political parties to change their policies on the EU, yet it is often very difficult to determine what these are. Whilst some may suggest that it is down to a change in public attitudes (Ladrech, 2001, p. 4), others would argue that party position changes occur as a result of â€Å"environmental incentives with party organisation† (Schumacher et al; 2009, p. 1). Regardless, EU integration is one of the main issues that has divided British political parties since the 1970’s and Britain’s EU membership has had a significant impact upon political parties. Hence, the two main themes that have run through the main parties with regards to the EU are division and fragmentation, which has led many to believe that ‘Europe’ has essentially become a â€Å"cause of political cleavage† (Smith, 2012, p. 1277) that has widely impacted mainstream political parties. This study will therefore anal yse the changing approaches of British political parties since the 1970’s in order to determine what factors have led to a change in policies. Introduction Introduction to the Study Since the United Kingdom became a member of the European Union, there has been a significant amount of controversy that has surrounded the move. The UK had been trying to join the EU since 1961, yet its membership was rejected by the French President. It wasn’t until 1973 when the UK finally became a member and although a referendum was held two years later, which resulted in the public voting in favour of the UK’s membership, many have continued to question whether it was in fact a good move. Accordingly, some have argued against further EU integration, whilst others have argued for complete EU withdrawal. This so-called Euroscepticism has existed since the very beginning and has had a significant impact upon the policies of British political parties. In accordance with this, it will be considered what factors actually caused British political parties to change their policies on the EU since 1970.Research Objective The objective o f this research is to consider what causes British political parties to change their EU policies and to determine what parties are cautious of further EU integration. It will also allow an assessment to be made as to whether there are any parties who support the withdrawal from the EU. Thus, it will also be shown that debate surrounding the EU has not been sustained and that many challenges still exist, causing many to question Britain’s EU membership.Literature ReviewIntroduction When the UK became a member of the EU, every political party was in agreement, yet many debates have subsequently been made as to whether it was the right decision to make. Hence, the debates between Eurosceptics and EU supporters are still ongoing in British political parties today, though there the views of the Conservative and Labour parties are diverse and appear to change frequently. Accordingly, during the 1970’s and 1980’s the Labour party appeared to be more Europsceptic than the Conservative party and thereby pledged â€Å"to extricate ourselves from the Treaty of Rome and other Community treaties† (Politea, 2007, p. 1). During the 1990’s, however, the Conservative party appeared to be moving in the same direction by making a pledge not to co-operate with the EU. Nevertheless, public support for the EU began to grow since it was believed that the EU would be a good thing for Britain, especially after the Thatcherism era. As such, â€Å"Europe app eared to be fundamental to the government’s attempts to revise the Thatcher settlement and symbolized a modification of some of its less palatable elements† (Gifford, 2008, p. 114). Literature Review Regardless of the EU’s initial support, Eurosceptiscim is still rife in Britain today and many questions have been raised as to why British political parties have continued to change their policies on the EU since the UK’s integration in 1970. Whilst some argue that material factors, such as anti-market and anti-capitalist, are the reason why the policies have shifted, others believe that ideology, such as national sovereignty and anti-immigration is the reason for the shift. Nonetheless, as put by Kopecky (2002, p. 297); â€Å"ideology is the dominant explanation for both types of support, although strategy at times plays a role in explaining specific support.† Regardless, it has been argued that â€Å"the Chevenementists’ shift away from left-right positioning has not paid off electorally† (Milner, 2004, p. 59). This is widely due to the mistrust the public will have in political parties who frequently change their stance and although there may be a number of different factors as to why this happens the public will be fearful of neo-liberal policies. Still, others believe that the changes in policies are primarily the result of Britain’s desire to maintain independence and sovereignty (Harmsen and Spiering, 2005, p. 14). Whether Britain’s current policies will be maintained is doubtful, especially in light of the recent policy changes: â€Å"The last two and a half years have seen the biggest change of Britain’s European policy in its four-decade membership of the European Union† (Teasdale, 2013, p. 1). Theoretical Approaches A Culturalist theory of political change will be used in this study in order to explain why political change occurs. This appears to be the most appropriate way to determine what factors have caused British political parties to change their policies on the EU since 1970. This is because; Culturalist theory is based on the idea that people do not respond directly to situations they face and that instead situations are seen through orientations (Eckstein, 1988, p. 790). Hence, orientations are how information is processed and can be changed depending on what is being taught. Accordingly, as noted by Eckstein (1992, p. 281); â€Å"a cogent, potentially powerful theory of political change can be derived from Culturalist premises.† Research Question What factors have caused British political parties to change their policies on the EU? How have attitudes towards Europe shifted amongst the two main parties? Proposed Methodology In obtaining the relevant information for this study it will be necessary to use a secondary research approach. This is because, already existing data will be capable of being collected and then analysed in order to reach an appropriate conclusion. This is the most cost effective and efficient way of collecting data and is more feasible than using primary research. Hence, it would be difficult to gain access to political parties in order to obtain their views. Therefore, for the purposes of this study; it would be impracticable to use primary research. Opinions will thus be acquired from relevant scholars, theorists, politicians and academics in order to allow a general overview of the topic to be provided. These will be obtained from textbooks, journal articles, online legal databases and governmental reports. References Eckstein, H. (1992) Regarding Politics: Essays on Political Theory, Stability and Change, University of California Press. Gifford, C. (2008) The Making of Eurosceptic Britain: Identity and Economy in a Post-Imperial State, Ashgate Publishing Ltd. Harmsen, R. and Spiering, M. (2005) Eurosceptism, Rodopi. Jansen, J. J. and Jansen, S. J. M. (2011) Fiscal Sovereignty of the Member States in an Internal Market: Past Future, Kluwer Law International. Kopecky, P. (2002) The Two Sides of Euroscepticism, Party Positions on European Integration in East Central Europe, European Union Politics, SAGE Journals, Volume 3, No. 3. Ladrech, R. (2001) Europeanization and Political Parties: Towards a Framework for Analysis, Keele University, [Online] Available: bdi.mfa.government.bg/†¦/†¦ [05 April, 2013]. Milner, S. (2004) For an Alternative Europe: Euroscepticism and the French Left Since the Maastricth Treaty, [Online] Available: http://www.ingentaconnect.com/content/rodopi/es/2004/00000020/00000001/art00004 [02 April, 2013]. Schumacher, G., de Vris, C. E., and Vis, B., (2009) Why Political Parties Change Their Positions: Environmental Incentives & Party Organisation, [05 April, 2013]. Smith, J. (2012) The European Dividing Line in Party Politics, International Affairs, 6. Teasdale, A. (2013) Will Eurosis Condemn Britain to be an Outsider Looking InEUROPP, [Online] Available: http://blogs.lse.ac.uk/europpblog/2013/03/05/uk-eu-outsider/ [03 April, 2013].

Managerial Leadership role for Nurses’ Use of Research Evidence Essay

The rapid noticeable change in healthcare delivery coupled with professional responsibilities of nurses to incorporate research evidence into their decision making underscores the need to understand the factors involved in implementing evidence-based practice. Linking current research findings with patients’ conditions, values, and circumstances is the defining feature of evidence-based practice. Significant and rational for using evidence in practice in nursing care Evidence-based practice (EBP) is an approach to health care where the best evidence possible is used in health professionals to make clinical decisions for individual. It involves complex and conscientious decision-making based on the available evidence, patient characteristics, situations, and preferences( McKibbon, 1998). Evidence-based practice in nursing is defined as â€Å"integration of the best evidence available, nursing expertise, and the values and preferences of the individuals, families and communities who are served† (â€Å"Sigma Theta Tau International position statement on evidence-based practice February 2007 summary,† 2008). The gist of evidence based health care is the integration of individual clinical expertise with the best available external clinical evidence and the values and expectations of the patient. There are different recourses of evidence which includes the following: †¢Research Evidence: which refers to methodologically sound, clinically relevant research about the effectiveness and safety of interventions, the accuracy of assessment measures, the strength of causal relationships and the cost-effectiveness of nursing interventions. †¢Patients Experiences and Preferences: identification and consideration of patient’s experiences and preferences are central to evidence-based decision making. Patients may have varying views about their health care options, depending on factors such as their condition personal values and experiences, degree of aversion to risk, resources, availability of information, cultural beliefs, and family influences. †¢ Clinical Expertise. AS the mixing of these different types of evidence may be influenced by factors in the practice context such as available resources, practice cultures and norms leadership styles, and data management, we must consider the level of evidence while using the research evidence to take the proper decision, look to appendix A which is represent the level of evidence. (Haynes, Devereaux, & Guyatt, 2002; Sigma Theta Tau International position statement on evidence-based practice February 2007 summary,† 2008). Evidence-based practice is a prominent issue in international health care which is intended to develop and promote an explicit and rational process for clinical decision making that emphasizing the importance of incorporating the best research findings into clinical care to ensure the best possible treatment and care derived from the best available evidence (E. Fineout-Overholt, Levin, & Melnyk, 2004) Once a new research is completed new evidence comes into play every day, technology advances, and patients present with unique challenges and personal experiences(Krainovich-Miller, Haber, Yost, & Jacobs, 2009). The nurse who bases practice on what was learned in basic nursing education soon becomes outdated, then becomes dangerous. Patients are not safe if they do not receive care that is based on the best evidence available to assist them at the time their needs arise, so all aspects of nursing, from education to management to direct patient care, should be based on the best evidence available at the time (Reavy & Tavernier, 2008). Through reviewing the literature there is a dramatically changing and advancing in the technology, available body information and quality of care provided, the rapid pace of change in healthcare delivery coupled with professional responsibilities of nurses to incorporate research evidence into their provided care and decision making underscores the need to understand the factors involved in implementing evidence-based practice (Bostrà ¶m, Ehrenberg, Gustavsson, & Wallin, 2009; Ellen Fineout-Overholt, Williamson, Kent, & Hutchinson, 2010; Gerrish, et al., 2011; Gifford, Davies, Edwards, Griffin, & Lybanon, 2007). Before that nurses must first believe that basing their practice on the best evidence will lead to the highest quality of care and outcomes for patients and their families(Ellen Fineout-Overholt, et al., 2010; Melnyk, et al., 2004). To let change occuring, â€Å"there must be a clear vision, written goals, and a well-developed strategic plan, including strategies for overcoming anticipated barriers along the course of the change†(Melnyk, et al., 2004). Emerging evidence indicates that the  leadership behaviors’ of nurse managers and administrators play an important role in successfully utlizing research evidence into clinical nursing(Amabile, Schatzel, Moneta, & Kramer, 2004; Antrobus & Kitson, 1999; Gifford, et al., 2007). There is a consistency between many researches that clamethe importance role of the leadership and leadership factors such as support and commitment of managers on the staff at the implication of EBP(Aitken, et al., 2011; Antrobus & Kitson, 1999; Melnyk, et al., 2004; Winch, Creedy, & Chaboyer, 2002). Nurse managers and administrators are responsible for the professional practice environments where nurses provide care, and are strategically positioned to enable nurses to use research. As being a role model, administrators must be committed to provide the necessary resources such as EBP mentors, computers, and EBP education. Some administrators have tried to encourage a change to EBP by integrating EBP competencies into clinical promotions. However, Miller (2010) argue that this extrinsic motivational strategy is unlikely to be as effective as when people are intrinsically motivated to change. Also there is a claimed that if people are involved in the strategic planning process, they are more likely to change to EBP. Intervention protocol for promoting nurses compliance to EBP As the Decision making in health care has changed dramatically, with nurses expected to make choices which based on the best available evidence and continually review them as new evidence comes to light (Pearson et al, 2007). Evidence-based practice involves the use of reliable, explicit and judicious evidence to make decisions about the care of individual patients. As an important role in providing safe and high quality care the nurses must take into account the quality of evidence, assessing the degree to which it meets the four principles of feasibility, appropriateness, meaningfulness and (Doody & Doody, 2011; Johnson, Gardner, Kelly, Maas, & McCloskey, 1991). What nurses need to operate in an evidence-based manner, is to be aware of how to introduce, develop and evaluate evidence-based practice. There more than one model for introducing the EBP in health care one of them that I chose is the Iowa model. The Iowa model focuses on organization and collaboration incorporating conduct use of research, along with other types of evidence(Doody & Doody, 2011; Johnson, et al., 1991). Since its origin in 1994, it has been continually referenced in nursing journal articles and extensively used in clinical research programmes. This model uses key triggers that can be either problem focused or knowledge focused, leading staff to question current nursing practices and whether care can be improved through the use of current research findings(Bauer, 2010; Doody & Doody, 2011; Johnson, et al., 1991; Titler, et al., 2001). By using Iowa Model; a question is generated either from a problem or as a result of becoming aware of new knowledge. Then a determination is made about the question relevance to organizational priorities. If the question posed is relevant, then the next step is to determine if there is any evidence to answer the question. Once the evidence has been examined, if there is sufficient evidence, then a pilot of the practice change is performed. If there is insufficient evidence, then the model supports that new evidence should be generated through research (Bauer, 2010). Step one of the Iowa model is to formulate a question. The question if asked in a PICO format is easier to use to search the literature. A PICO format uses the following method to frame the question: Frame question in PICO format †¢ P= Population of interest †¢ I= Intervention †¢ C= Comparison of what you will do †¢ O= Outcome(Hoogendam, de Vries Robbà ©, & Overbeke, 2012). The final step to the process is to share the outcomes of the practice change with other in the form of an article or poster. In using the Iowa model, there are seven steps to follow in detail as it is outlined in the figure shown in appendix B. Step 1: Selection of a topic In selecting a topic for evidence-based practice, several factors need to be considered. These include the priority and magnitude of the problem, its application to all areas of practice, its contribution to improving care, the availability of data and evidence in the problem area, the multidisciplinary nature of the problem, and the commitment of staff. Step 2: Forming a team The team is responsible for development, implementation, and evaluation. The composition of the team should be directed by the chosen topic and include all interested stakeholders. The process of changing a specific area of practice will be assisted by specialist staff team members, who can provide input and support, and discuss the practicality of guideline. A bottom-up approach to implementing evidence-based practice is essential as change is more successful when initiated by frontline practitioners, rather than imposed by management. Staff support is also important. Without the necessary resources and managerial involvement, the team will not feel they have the authority to change care or the support from their organization to implement the change in practice. To develop evidence-based practice at unit level, the team should draw up written policies, procedures and guidelines that are evidence based. Interaction should take place between the organization’s direct care providers and management such as nurse managers, to support these changes(Antrobus & Kitson, 1999; Cookson, 2005; Doody & Doody, 2011; Hughes, Duke, Bamford, & Moss, 2006). Step 3: Evidence retrieval Evidence should be retrieved through electronic databases such as Cinahl, Medline, Cochrane and up-to-date web site. Step 4: Grading the evidence To grade the evidence, the team will address quality areas of the individual research and the strength of the body of evidence overall (see appendix A for level of evidence). Step 5: Developing an Evidence-Based Practice (EBP) standard After a critique of the literature, team members come together to set recommendations for practice. The type and strength of evidence used in practice needs to be and based in the consistency of replicated studies. The design of the studies and recommendations made should be based on identifiable benefits and risks to the patient. This sets the standard of practice guidelines, assessments, actions, and treatment as required. These will be based on the group decision, considering the relevance for practice, its feasibility, appropriateness, meaningfulness, and effectiveness for practice. To support evidence-based practice, guidelines should be devised for the patient group, health screening issues addressed, and policy and procedural guidelines devised highlighting frequency and areas of screening. Evidence-based practice is ideally a patient centered approach, which when implemented is highly individualized. Step 6: Implementing EPB For implementation to occur, aspects such as written policy, procedures and guidelines that are evidence based need to be considered. There needs to be a direct interaction between the direct care providers, the organization, and its leadership roles (e.g. nurse managers) to support these changes. The evidence also needs to be diffused and should focus on its strengths and perceived benefits, including the manner in which it is communicated. This can be achieved through in-service education, audit and feedback provided by team members. Social and organizational factors can affect implementation and there needs to be support and value placed on the integration of evidence into practice and the application of research findings(Aitken, et al., 2011; Doody & Doody, 2011; Gerrish, et al., 2011; Reavy & Tavernier, 2008) Step 7: Evaluation Evaluation is essential to seeing the value and contribution of the evidence into practice. A baseline of the data before implementation would benefit, as it would show how the evidence has contributed to patient care. Audit and feedback through the process of implementation should be conducted and support from leaders and the organization is needed for success. Evaluation will highlight the programme’s impact. Barriers also need to be identified. Information and skill deficit are common barriers to evidence-based practice. A lack of knowledge regarding the indications and contraindications, current recommendations, and guidelines or results of research, has the potential to cause nurses to feel they do not have sufficient training, skill or expertise to implement the change. Awareness of evidence must be increased to promote the translation of evidence into practice . A useful method for identifying perceived barriers is the use of a force field analysis conducted by the team leader. Impact evaluation, which relates to the immediate effect of the intervention, should be carried out. However, some benefits may only become apparent after a considerable period of time. This is known as the sleep effect. On the contrary, the back-sliding effect could also occur where the intervention has a more or less immediate effect, which decreases over time. We must not to evaluate  too late, to avoid missing the measures of the immediate impact. Even if we do observe the early effect, we cannot assume it will last. Therefore, evaluation should be carried out at different periods during and following the intervention (Doody & Doody, 2011). Nursing leadership is an essential role for promoting evidence-based practice while the nurse managers and administrators are responsible for the professional practice environments where nurses provide care, are strategically positioned to enable nurses to use research. AS the leadership is essential for creating change for effective patient care the leadership behaviors are critical in successfully influencing the stimulation, acceptance, and utilization of innovations in organizations (Antrobus & Kitson, 1999; Gifford, et al., 2007). From my perspective I consider that the leaders and managers are the corner stone for utilizing researches and make practices based on evidence. By playing a role model for staff and handling the authority they have a magic force to urges the staff to use evidence based in there practice. Leaders can encourage the staff to use EBP in their practice in several ways such as increase the staff awareness, stimulating the intrinsic motivation of people, implying an effort to increase the will and internal desire to change through support encouragement, education, and appealing to a common purpose, monitoring performance, strengthen the body of knowledge that the staff have by forcing them to attend and participate in conferences, workshops & Journal clups, giving rewards to staff who collaborate in finding, utilizing and applying the EBP and make promotion and appraisal according to adherence to application of EBP. Implication of EBP For implementation to occur, aspects such as written policy, procedures and guidelines that are evidence based need to be considered. There needs to be a direct interaction between the direct care providers, the organization, and its leadership roles (e.g. nurse managers) to support these changes. The evidence also needs to be diffused and should focus on its strengths and perceived benefits, including the manner in which it is communicated. This can be achieved through in-service education, audit and feedback provided by team members. Social and organizational factors can affect implementation and there needs to be support and value placed on the integration of evidence into practice and the application of research findings. There are many ways that can be used to create an environment to implement and sustain an area of EBP such as : -Development of EBP champions; – Use of EBP mentors; – Provision of resources such as time and money; – Creation of a culture and expectation related to EBP; – Use of practical strategies including EBP workgroups, journal club and nursing rounds (Aitken, et al., 2011). EBP is being used in every aspect of the life, especially in the health care. The most common application of EBP is not only in intervention or treatment plane, but also the EBP process has been applied to making choices about diagnostic tests and protocols to insure thorough and accurate diagnosis, selecting preventive or harm-reduction interventions or programs, determining the etiology of a disorder or illness, determining the course or progression of a disorder or illness, determining the prevalence of symptoms as part of establishing or refining diagnostic criteria, completing economic decision-making about medical and social service programs. Nursing research proves pivotal to achieving Magnet recognition, yet the term research often evokes an hunch of mystery. Most of the policy, guidelines. And protocols that guide the work in the organization are based on evidance (Weeks & Satusky, 2005). Also, it is also useful to think of EBP as a much larger social movement. Drisko and Grady (2012) argue that at a macro-level, EBP is actively used by policy makers to shape service delivery and funding. EBP is impacting the kinds of interventions that agencies offer, and even shaping how supervision is done. EBP is establishing a hierarchy of research evidence that is privileging experimental research over other ways of knowing. There are other aspects of EBP beyond the core practice decision-making process that are re-shaping social work practice, social work education, and our clients’ lives. As such, it may be viewed as a public idea or a social movement at a macro level (â€Å"Evidence-Based Practice: Why Does It Matter?,† 2012). Cost effectiveness of using EBP in health care  Beneficial outcomes of the implementation and use of evidence-based practice by staff nurses include increased ability to offer safe, cost-effective,  and patient-specific interventions. Critical thinking skills and leadership abilities can also grow because of the use of evidence based practice; it is a way for staff nurses to become involved in change and regain ownership of their practice (Reavy & Tavernier, 2008). EBP used in clinical practice lead to make improvement in quality of provided care, which lead to improve the patients outcome, patient satisfaction and employee satisfaction. All these aspect are directly and indirectly lead to increase the cost effectiveness of the organization. When the patient satisfaction increased the patient acceptance to the organization increased, the employee satisfaction also increases and turnover will decrease all these things will increase the financial revenue to the organization. Also when using EBP in health care this will lead to decrease errors, complications and losses (e.g. compliance of evidence based infection control guidelines will lead to decrease incidence of infection, decrease length of stay an d decrease the cost of patient treatment), another example is using EBP to treat diabetic foot will result in decreasing the loses and increases the satisfaction so adherence to EBP will be costly effective when it result in better outcome, quality of care and satisfaction. Sometimes using EBP in certain area is costly; in such cases we must weighing the benefits ( immediately and after considered period of time) and mak e our decision based on the collected data and information. References: Aitken, L. M., Hackwood, B., Crouch, S., Clayton, S., West, N., Carney, D., et al. (2011). Creating an environment to implement and sustain evidence based practice: A developmental process. Australian Critical Care, 24(4), 244-254. Amabile, T. M., Schatzel, E. A., Moneta, G. B., & Kramer, S. J. (2004). Leader behaviors and the work environment for creativity: Perceived leader support. The Leadership Quarterly, 15(1), 5-32. Antrobus, S., & Kitson, A. (1999). Nursing leadership: influencing and shaping health policy and nursing practice. Journal of Advanced Nursing, 29(3), 746-753. Bauer, C. (2010). Evidence Based Practice:Demystifying the Iowa Model Providing optimal care through promotion of professional standard, networking and development, 25(2). Bostrà ¶m, A.-M., Ehrenberg, A., Gustavsson, J. P., & Wallin, L. (2009). Registered nurses’ application of evidence-based practice: a national survey. Journal Of Evaluation In Clinical Practice, 15(6), 1159-1163. Cookson, R. (2005). Evidence-based policy making in health care: what it is and what it isn’t. Journal Of Health Services Research & Policy, 10(2), 118-121. Doody, C. M., & Doody, O. (2011). Introducing evidence into nursing practice: using the IOWA model. British Journal of Nursing, 20(11), 661-664. Evidence-Based Practice: Why Does It Matter? (2012). ISNA Bulletin, 39(1), 6-10. Fineout-Overholt, E., Levin, R. F., & Melnyk, B. M. (2004). Strategies for advancing evidence-based practice in clinical settings. Journal of the New York State Nurses Association, 35(2), 28-32. Fineout-Overholt, E., Williamson, K. M., Kent, B., & Hutchinson, A. M. (2010). Teaching EBP: strategies for achieving sustainable organizational change toward evidence-based practice. Worldviews On Evidence-Based Nursing / Sigma Theta Tau International, Honor Society Of Nursing, 7(1), 51-53. Gerrish, K., Guillaume, L., Kirshbaum, M., McDonnell, A., Tod, A., & Nolan, M. (2011). Factors influencing the contribution of advanced practice nurses to promoting evidence-based practice among front-line nurses: findings from a cross-sectional survey. Journal of Advanced Nursing, 67(5), 1079-1090. Gifford, W., Davies, B., Edwards, N., Griffin, P., & Lybanon, V. (2007). Managerial leadership for nurses’ use of research evidence: an integrative review of the literature. Worldviews on Evidence-Based Nursing, 4(3), 126-145. Haynes, R. B., Devereaux, P. J., & Guyatt, G. H. (2002). Clinical expertise in the era of evidence-based medicine and patient choice. ACP Journal Club, 136(2), A11-A14. Hoogendam, A., de Vries Robbà ©, P. F., & Overbeke, A. J. P. M. (2012). Comparing patient characteristics, type of intervention, control, and outcome (PICO) queries with unguided searching: a randomized controlled crossover trial. Journal Of The Medical Library Association: JMLA, 100(2), 121-126. Hughes, F., Duke, J., Bamford, A., & Moss, C. (2006). Enhancing nursing leadership: Through policy, politics, and strategic alliances. Nurse Leader, 4(2), 24-27. Johnson, M., Gardner, D., Kelly, K., Maas, M., & McCloskey, J. C. (1991). The Iowa Model: a proposed model for nursing administration. Nursing Economic$, 9(4), 255-262. Krainovich-Miller, B., Haber, J., Yost, J., & Jacobs, S. K. (2009). Evidence-based practice challenge: teaching critical appraisal of systematic reviews and clinical practice guidelines to graduate students. Journa l of Nursing Education, 48(4), 186-195. Melnyk, B. M., Fineout-Overholt, E., Feinstein, N. F., Li, H., Small, L., Wilcox, L., et al. (2004). Nurses’ perceived knowledge, beliefs, skills, and needs regarding evidence-based practice: implications for accelerating the paradigm shift. Worldviews on Evidence-Based Nursing, 1(3), 185-193. Reavy, K., & Tavernier, S. (2008). Nurses reclaiming ownership of their practice: implementation of an evidence-based practice model and process. Journal of Continuing Education in Nursing, 39(4), 166-172. Sigma Theta Tau International position statement on evidence-based practice February 2007 summary. (2008). Worldviews on Evidence-Based Nursing, 5(2), 57-59. Titler, M. G., Kleiber, C., Steelman, V. J., Rakel, B. A., Budreau, G., Everett, C. L. Q., et al. (2001). The Iowa Model of Evidence-Based Practice to Promote Quality Care. Critical Care Nursing Clinics of North America, 13(4), 497-509. Weeks, S. K., & Satusky, M. J. (2005). Demystifying nursing research: to encourage compliance with Magnet accreditation standards, f urther your facility’s research initiatives. Nursing Management, 36(2), 42. Winch, S., Creedy, D., & Chaboyer, W. (2002). Governing nursing conduct: the rise of evidence-based practice. Nursing Inquiry, 9(3), 156-161.

Is our behavior is ethical Essay

As generally known there are great difficulties concerning this question. The problem really lies in defining the term ethics. Once this has been defined (assuming it is possible) answering the question above is rather simple. One only has to ask whether a behavior is in accordance with that definition or not. Hence in this essay I focus on defining ethics, as far as possible. Socrates was the one, who first introduced the concept of ethical philosophy by claiming that his slave boy, whom he had discovered actually was able to think on his own, should since he was human be treated in a humanitarian way. Many philosophers have since the ancient Greek civilization given their subjective views on the question of what ethics is. To get a better grip on this question I think one should first look at the extremes. One philosopher in this category is Nietzsche. He claimed that ethics are laws created by the weak to protect the weak and that these laws are hindering the strong and creative from reaching his/her full potential. This might sound cruel; nevertheless I think he does have a point. In nature all the weak genes are extinguished due to natural selection, while the moral laws, which man created, will save these defective genes and eventually make us weaker, perhaps resulting in our extinction. Ethics is also a major problem when it comes to scientific progress. It is not allowed to do experiments, which is in any way painful, to human beings. This indeed has not been good seen from a scientific point of view. Especially in the field of psychology, where humans are the subjects examined, does the ethical rules make it difficult to carry out important experiments. Nietzsche meant that discarding some moral laws and acting more instinctively would be good for mankind in the sense that this would give more space for irrational thinking. On the other extreme we have those who claim that there are ethical principles, which one should follow no matter the circumstances. Christianity is one such â€Å"philosophy†. The Bible was meant to be a complete ethical constitution with laws or principals applicable to any situation one might come across. These laws and principals are summed up in the Ten Commandments, which are according to the Christians rules everyone must follow in all situations. Utilitarianism is a third extreme view proposing that the ethical correctness in a behavior should be measured in its consequences, i.e. an action is good if it increases the sum of happiness in the world. There are problem with this perspective, however. Applying this claim as our basic rule of thumb the next question would be; how do we know what amount of happiness is caused by a certain behavior, and how can we measure it? Since we do not even have a good definition of happiness (it is a very subjective term) this seemingly simple rule turns out to be rather complicated and evasive. These three perspectives all seem reasonable when first explained, though serious flaws exist in each perspective. What would the world look like if leaders, in possession of weapons of mass destruction, would act in accordance with their animal instincts? Christian rules also appear imperfect when put into an extreme situation. Imagine yourself standing in a street corner; suddenly a terrified person runs by, two seconds later another out of your mind looking man with a knife raised over his head comes and asks you if you saw in which direction the first man went. Should you tell him the truth? If you are a true Christian you should, since lying is wrong according to the Ten Commandments. The utilitarian perspective seems good since happiness will increase. However, wouldn’t this ethically otherwise horrible action such as World War 2? It has after all had many positive effects such as the creation of the United Nations i.e. the long tern effect has increased happiness on the earth. A world ruled according to this principle would also mean an end to all individual rights. If killing someone would make people happy then it would be justified to execute that individual. Anders Rasmussen, D1099019 My conclusion so far is that it is wrong to make ethical laws or principals; there will always be situations such as the ones exemplified above where it is not appropriate. I think that ethics is subjective and should remain so, since creating laws will most likely lead to misinterpretations and a more inhuman society. Ethics is after all one of the prime things that makes us human. This though is not to say that we should live in total anarchy, people that obviously do harm to mankind should be punished. I believe in rules as long as they don’t take away the individual responsibility. Accepting that ethics is something each individual has to take into consideration in each situation the next issue would be what tools are we in possession of when deciding the ethical correctness in a certain behavior, and more importantly, what tools should we use? John Stuart Mill, a famous utilitarian, claimed that it is through reason, and reason only, that one should decide what to do. Using logical reasoning one should derive as many consequences as possible and measure the happiness they bring and upon these grounds we should decide what to do. Reason I think is very important when it comes to decisions. It is much more objective than the intuition, which is our second tool. To say that we should only use reason, however is to underestimate our intuitive moral sense. Usually when making a decision we have an inner voice that tells us what is good and what is bad. Totally discarding this intuitive feeling, as Mill proposes, is to deny that it is often right (looking at visible the consequences). Freud’s personality theory illustrates our intuition very well. He said that our personality is made up by the ego, the superego and the Id, the ego representing the reasoning and the two latter our intuition. The Id is the animal-like, innate, egoistic instincts seeking satisfaction by uttering sex and aggression energies. The superego is our moral values, which has been inflicted upon us by our surroundings. If the intuition was just a mixture of these two quite opposing forces I would as John Stuart Mill not trust it, but I think that most people are able to separate these two forces from each other and tell, which will is coming from the Id and, which is coming from the superego. It could be seen as a struggle within between the devil and the angel, where we are the ones who have to decide who we should listen to. As long as we do not let the Id (our innate needs) get the upper hand, but instead listens to our superego, the intuition is a very useful tool when taking hard decisions. There are some problems though about the superego. If our values are inflicted upon us by the culture in which we have grown up (a Christian would probably say that they are given to us from God) and thus differs from one culture to another (we can by looking at the world tell that this is the case!) clashes might occur when different societies meet. Since different subjective meanings about what is right and what is wrong will be shared by one society. It is in such situations, when the intuition fails to settle argument, that we should use our more objective tool†¦ the reasoning. Conclusion: First of all we should not create a strict ethical constitution telling us the exact answer to the question â€Å"How do we know if at all that our behavior is ethical?† We should not let the moral philosopher become an engineer. Instead it is the individual that should, in each unique situation, use all available tools and act the way he or she finds most appropriate in the particular situation i.e. â€Å"how do we know, if at all, that our behavior is ethical is a question which will have different answer in different situation and we must therefore ask ourselves this question as often as possible. This is not a â€Å"perfect† system, and it will always create conflicts among us. Still I think taking away all moral responsibility is to take away what makes us human. Truly believing that you are acting ethically is as ethical one can ever get, as a human being. References: Richard.D.Gross (1996): Psychology – The science of mind and behavior, third edition, Hodder & Stoughton Bryan Magee (1998): Story of philosophy, Dorling Kindersley Limited, London Mastering philosophy, second edition (2001), Anthony Harrison-Barbet

Asian art Essay Example | Topics and Well Written Essays - 750 words

Asian art - Essay Example Another difference is in the materials used. Simply by taking a detailed look at the Vairocana Buddha, one can begin to notice several significant elements of this piece that distinguish it as a unique piece of art even though it portrays a familiar and often reproduced (in smaller scale) image. Unlike many of the other Buddha statues that are made of a single block of stone, this statue is constructed in such a way that its natural life process has only contributed to its ability to communicate. It is made of hollowed out cedar wood coated, lacquered and then painted with gold leaf or paint. With the lacquer layer working to reflect any light that penetrates through the gold layer, this statue would have gleamed in any kind of illumination, presenting its viewers with a dazzling display of unearthly beauty and light that would chase itself and play along the different curves, angles and lines of the various sections of the piece. It’s approximately life-sized, which gives it an awesome power in its presentation, but also a familiarity and approachability that a larger statue might not have. It invites you to take a closer look and to get to know it on a personal level. The effect of the wearing surfaces, with gold remaining on some areas of the statue but exposed wood appearing in other areas, serves to heighten the experience for me. Although it wasn’t necessarily a part of the original intent, this aging effect immediately conveys the idea of ancient wisdom and abiding endurance.

Globalization and chronic poverty and health Essay

Globalization and chronic poverty and health - Essay Example ement of people and resources thus results into child labor, loss of middle class jobs, capitalism, destruction of environment, and obliteration of indigenous cultures thereby leading to increased inequality (Milanovic, 667). In this respect, the poor continue to remain poor while the rich continue to accumulate wealth. Persistent inequality results into a vicious cycle of poverty in which the poor cannot take their children to school hence their children will not get better jobs due to increased competition in the job market and will continue with a generation of chronic poverty. Chronic poverty can be defined as a situation in which individuals are experiencing significant incapability deprivations for a longer period of time often more than five years (Hulme and Andrew, 403). Chronic poverty is closely linked to health standards. Research has shown that where there is high poverty index, the health standards are likely to be compromised. This is because individuals are not able to meet the basic nutritional, sanitation and hygienic standards. In this regard, they are left more susceptible to both communicable and non communicable diseases including nutritional deficiencies. Trends in globalization have therefore resulted into increased income inequality therefore leading to persistent chronic poverty and deteriorating health status among the poor. Forces of globalization play a key role in shaping political, economical and social policies that are adopted by governments. In the face of globalization, many poor countries do not gain from the increased interconnectedness because of increased competition hence even domestic policies in poor countries trend to favor developed countries. This inequality results into social injustice for the chronically poor population. Milanovic (669), views social justice as a matter of life and death since it affects the way people live, their consequent chance of illness and their risk of premature death. This is the reason why

Report Research Paper Example | Topics and Well Written Essays - 500 words

Report - Research Paper Example For this reason, one should start with writing a draft, which helps one to identify the mistakes – both stylistic and grammatical, the flow as well as check for any information omitted (Bowden, 2004). One should follow an outline to ensure all information that is supposed to be in the report is included. Moreover, one should find out, for instance asking from the supervisor what is expected and if there is a standard format to be followed. If there are any sample reports available, it is advisable to go through them and if applicable utilize them as a model for the report to be written. Another way to write a concise and complete report is to take time to choose what information will be put into the report i.e. how brief or detailed it should be. When compiling and writing the report, the researcher ought to keep in mind the nature of the audience. The report should start with a clear, brief proclamation of the research aspirations and later, an explanation of the research pla n. A summary of major findings should come next. The report should end with a presentation of the recommendations and conclusions and any available exhibits appended. Finally, it is important to note that, report writing, like any skill, improves with practice. The use of computers can significantly facilitate report compiling and writing (Mooi & Sarstedt, 2011). The market research issue covered in the call center report is determine how long the customers have to wait to access customer service of various companies through a phone call (Collier, 2009). The major market research issues and outcomes are well outlined - how long different companies take to answer the call, whether it is an automated message or a person and overall quality of the customer service. The language used is objective, factual and user-friendly comparing and rating the companies depending on the findings. The research design and processes are adequately reported and the

Personal statement for second year Example | Topics and Well Written Essays - 500 words

For second year - Personal Statement Example My passion for digital work is one of the factors that distinguishes me from other candidates who are applying for this program. I am intrigued when I interact with digital media in the internet, news media or billboards. My interest is drawn to the work and skills that goes into these forms of communication in order to make them effective in eliciting the reactions they elicit in the target audience. My attention to detail is another reason that justifies my suitability for this program. This is because I believe that attention to details will enhance my appreciation of the content of this program (Holzschlag 23). My upbringing and education has exposed me to different cultures, imparting in me cultural diversity. This potential will help me study with ease in the culturally diverse population of your school. I am sociable and studying in your institution will give me an opportunity to make connections and network. This will also help me get along well with the members of my study group as can be assigned by my professors. My self-drive will help me work on my academic projects and assignments with minimal guidance from my supervisors (Holzschlag 24). I have developed initiative potentials and problem solving skills from my experience. This rekindles my memory to one time, when in primary school, I lacked school fees, and this seemed insurmountable at first. I came up with an idea to start a small photography shop near my home and my father embraced the idea, bought a pinhole camera, and started the shop. I helped run the shop after school and on weekends and this helped us raise funds for school fees and upkeep. Although the shop closed down after my father got another job and me and my siblings went to high school, I will be forever grateful for this encounter because it is here that I developed interest in photograph y and it has been growing ever since (Holzschlag 24). In conclusion, I believe that I have

Ground Zero 360 Exhibit Essay Example | Topics and Well Written Essays - 750 words

Ground Zero 360 Exhibit - Essay Example One of the most moving elements in the show are helmets and other forms of protective wear from fallen members of the New York City Police Department and Fire Department. There is a somber tone to this exhibit but plenty of light, celebrating the photography in a way that allows the viewer to clearly see and more importantly feel the emotion of the imagery linking you to the story in a way only true photojournalism can. Everything is done on a very large scale once again drawing the viewer in. It was nice to be able to admire the photographs from a distance rather than up close. The medium used for this artwork is color photography, specifically done in the style of photojournalism. The style of the artwork is very moving and powerful. The photographer has captured the moments with such precision that the events of the horrible attack on the World Trade Center can almost be relived. Representational, the images are filled with precision in their telling of the events that unfolded th at September morning. One element that seems to recede in its softness that actually dominates the work is the smog from the blast. Covering more than half of the photograph it becomes more apparent when contrasted by the clear image of the one fireman on the left. This smog creates an atmospheric perspective that creates a somber and reflective mood. The immediate impression is one of the devastation that has occurred, accounting for the large amount of dense fog from the debris and explosion itself. Another visual element that dominates the image is the unplanned use of color. Striking in its simplicity, the blue of the fireman’s shirt is balanced on the right by the blue of the police car and the yellow fluorescent safety bands on the firemen’s coats all stand out amidst the fog and debris. The sharp use of perspective in the photograph is also striking. Seen from a narrow angle in the foreground, it recedes into a very narrow area of emptiness in the background. Th is close angle adds a lot of depth to the image while the foreshortening in the foreground of the fire fighters makes them still appear tall in stature. The composition overall is so stark yet compelling. While buildings and a police car line the sides, the rescue workers march powerfully through the center with an almost frighteningly cloaked background. The message portrayed by the artist is one of fear and devastation. With beautiful accuracy we see the firefighters coming forth amidst the debris. The emptiness of the street expresses the emergency of the situation, as does the police car. This piece functions as a testament to the dangers in our world today brought on by multifaceted views and conflicting opinions about how the world should be. The firefighters themselves, part of the rescue team in every harrowing situation like this are a key element of the meaning and function in society of this photograph. The artwork I chose to compare is Eddie Adams photojournalistic work Saigon Execution. The horror of the events and the tension in the two photographs are what I at first find similar. Characteristic of photojournalism, portraying such intense and often dangerous events are seen in both of these pieces with a haunting air of devastation. Another way the two are similar is the angle of the street in the images. Although they are at opposite angles, the narrowness and the way the streets are lined on both sides, one by buildings, another by other elements of the

Critical thinking and ethics Essay Example | Topics and Well Written Essays - 500 words

Critical thinking and ethics - Essay Example The Ethical Lens Inventory provides a tool for personal evaluation; the ELI helps students understand values that influence their choices (Fink, 2008). My preferred ethical lens from the ELI is the results lens. I usually listen to my intuition (sensibility) when determining the greatest good for each person (autonomy). My core values are autonomy and sensibility. My primary aim is to protect individual right; I believe that protecting individual rights is the best way of ensuring that every person in the community is treated fairly. These core values are based on the universal rights and duties of human beings. My blind spot is that I strongly believe that my definition of the greatest good is similar to all people; I could be causing pain to other people who believe on different ways of achieving goodness. Personal ethics are the basic principles and values that govern interactions between people. Personal ethics are critical in decision-making process since they positively impact the experiences of other people when used to govern behaviors of individuals in business or social contexts. Decision-making process is required to be founded on moral principles (Fink, 2008); while making decisions, I always ensure that the decisions do not cause harm to others, but cause good to people. As an ethical person, I consider several choices and strive to minimize the consequences to humanity caused to each individual due to adoption of a particular decision. As a branch of philosophy, ethics concentrates on systematizing, defending, and recommending concepts of right and wrong conduct. Ethics is widely applied to both personal and professional responsibilities (Head & Mann, 2005). As an ethical person, I am aware of my responsibilities and I am always striving to achieve the best based on ethical guidelines. Responsibility is one of the values of morality that every ethical

Human Resources Management Essay Example for Free

Human Resources Management Essay Human Resources Management (HRM) is a new concept. It is a combination of HR, Accounting, Management, Financial Management and Economics. Globalization to would economy has exposed the corporate business organization to worldwide competition, mobilization of professional manpower and modern quantitative management practice. So, there are growing realization cannot achieve its goal effectively and efficiently. To face this complex management challenge, effective objectively measurable database system to measure and apply HRM information. Now-a-days, in Bangladesh, every year, and huge amount of money and talented HRM are being engaged by corporate to improve the productivity or skills o f their workforce across the country. Such huge expenditures are made with the expectation of future returns in terms of improved services to be rendered by skilled employees. In other words, organizations by investing human resources development definitely increase the service potentials embodied in human resources and these investments thus create economic assets for the organizations. Human resource (or personnel) management, in the sense of getting things done through people, is an essential part of every manager’s responsibilities, but many organizations find it advantageous to establish a specialist division to provide an expert service dedicated to ensuring that the human resource function is performed efficiently. â€Å"People are our most valuable asset† is a cliche which no member of any senior management team would disagree with. Yet, the reality for many organizations are that their people remain under valued, under trained and under utilized. The rate of change facing organizations has never been greater and organizations must absorb and manage change at a much faster rate than in the past. In order to implement a successful business strategy to face this challenge, organizations, large or small, must ensure that they have the right people capable of delivering the strategy. There is a long-standing argument about where HR-related functions should be organized into large organizations, e. g. , â€Å"should HR be in the Organization Development department or the other way around? The HRM function and HRD profession have undergone tremendous change over the past 20-30 years. Many years ago, large organizations looked to the â€Å"Personnel Department,† mostly to manage the paperwork around hiring and paying people. More recently, organizations consider the â€Å"HR Department† as playing a major role in staffing, training and helping to manage people so that people and the organization are performing at maxim um capability in a highly fulfilling manner. Company Profile History of Partex Group: Partex Group is among the large Bangladesh private sector manufacturing and service based enterprises, owning and operating over twenty units giving value for money to all customers. The group started modestly in 1959 in tobacco trading and with prudent entrepreneurship of our Founder Chairman Mr. M. A. Hashem today we have a stake in tobacco, food, water, soft drinks, steel container, edible oil, wooden board, furniture, cotton yarn and the IT sector. After Bangladesh was established our Chairman set up M/S Hashem Corporation (Pvt) Ltd. n Chittagong city meeting the large demand of food and materials needed for sustaining the needs of a new nation through imports. From importing to import substitution was the next logical step and the stepping stone into the manufacturing sector, which has matured to the multi million dollar diverse investment of the Partex Group today. A dedicated work force and committed board members led by our Chairman and backed by a market oriented corporate strategy has been the cornerstone of our success. Today the group has over twenty family owned private limited companies with a sizable turnover. Ours is a dynamic organization always exploring new ideas and avenues to expand and grow further. Long before environment came to dominate the development agenda. Star Particle Board Mills in the sixties pioneered an eco-friendly industry to reduce pressure on our scarce forest recourses. It is a unique combination of environmental protection and commerce; belaying most doomsayers who claim the two to be at odds. The one score and ten year successful perpetuation of our timber substitute products not only speak volumes of the foresight of Partex’s founders but also their vision of the future. They make particle board from agro-waste, mostly jute stalks, and ensure greater value to the jute growers of Bangladesh. Products are processed using modern technology to produce homogenous and strong particle board that can withstand seasonal change and are free from termite and fungal attack. These particle boards go on to produce veneered boards of various design and texture. Also door panels both plains and decorative in various finishes and sizes. In addition their produce special furniture boards, stylish furniture and even various plywood on our range of products. Beside, in house and outside training, recruits business graduates from reputed universities as management training for mainstream banking to enrich quality of human resources contributing towards operations effective and long-term sustainable results. Vision Statement: The Sky is not the limit for us, but their expectation is within limits. Therefore, their imagination soars beyond conventional barriers. Partex Group share or destiny with their beloved motherland. They want to serve her in the greater quest for national uplift. Mission statement: To sincere traveler, the way is never too long. Partex Group believes in â€Å"progress in diversity and service through entrepreneur†. They are merchants and missionaries, doers and dreamers, entrepreneurs and professionals. They are futuristic with emphasis on creating thinking and dynamic action. High quality financial services with the help the latest technology. Fast and accurate customer services Balance growth strategy High standard business ethics Steady return on shareholders equity. Innovative banking at a competitive price. Attract and retain quality human resource. Firm commitment to the society and the growth of national economy. The spirit: Enterprise is Partex Group’s spirit. Partex Group manufactures superior import-substitute consumer and industrial products. Their cutting edge precision leads to greater public utility and hygiene, with a great care for the environment and human inhabitation. It is the very ingredient that gives their organization the integrity upon which their reputation is built and we zealously guard it everyday. Many a thousand minds of their group contributed to their gathered knowledge to keep the wheels rolling that in turn leads them to goal. This cumulative strength of knowledge is required, today, to find new solutions for the manifold problems of fast- changing economic cultural and ecological milieu. Objectives: Partex Group is a customer focused modern banking institution thriving fast in both earning and ability to stand out as a leading banking institution in Bangladesh. They deliver unparalleled financial services with the touch of heart to Retail, Small and Medium Scale Enterprises (SMEs), corporate, institutional and governmental clients through the outlets of branches across the country. Their business initiatives center on the emerging need of the clients. Partex Groups’ client commitments are the following: Provided services with high degree of professionalism and use of most modern technology. Create life-long relationship based on mutual trust and respect. Respond to customer needs with speed and accuracy.

Benchmarking as a Tool to Improve Business Practices

Benchmarking as a Tool to Improve Business Practices BenchmarkingÂÂ  (best practice benchmarking or process benchmarking) is a process used in management and particularly strategic management, in which organizations evaluate various aspects of their processes in relation to best practice, usually within their own sector. Dimensions typically measured are quality, time, and cost. Improvements from learning mean doing things better, faster, and cheaper. This then allows organizations to develop plans on how to adopt such best practice, usually with the aim of increasing some aspect of performance. Benchmarking is often treated as a continuous process in which organizations continually seek to challenge their practices. NEEDS AND BENEFITS FOR BENCHMARKING Organizations use benchmarking for a variety of purposes. Some organizations position benchmarking as part of an overall problem-solving process with a clear mandate for organizational improvement .Others position benchmarking more as a proactive mechanism to keep themselves aware of the state-of-the-art business practices. Some of the reasons organizations use benchmarking processes are: STRATEGIC PLANNING It requires a thorough knowledge of the market place, the likely activities of the competition, the state of the art regarding products or services being produced, financial requirements for doing business in market, and the customer base. Benchmarking is useful tools for gathering information in these areas during the process of strategic planning. This type of information can shape a business strategy in a more realistic direction, or at least help identify the risks of doing business in certain markets. FORECASTING Benchmarking information is often used to gauge the state of the marketplace and to forecast market potentials .it also provides a source of information regarding the business directions of key players in the marketplace, trends in product/service developments, patterns of consumer behaviour and so on. in many industries, the business direction of a few major companies can shape the direction of an entire marketplace.forecastion the activities of these types of organizations often provides their competitors and support services companies with important information about future implications for their businesses. NEW IDEAS Benchmarking is an excellent source of new ideas. One of the primary large scale benchmarking is that it exposes individuals to new products, work processes, and ways of managing company resources.benchamarking requires that individuals establish formal contacts outside their oragainizations.the reward is exposure to different ideas and approaches to conducting business. It also provides an opportunity for employees to think out of the box to consider alternative paradigms and to engage in What if thinking. PRODUCT/PROCESS COMPARISONS A common type of benchmarking involves the collection of information about the products or processes of competitors or excellent companies. This information is often collected and used as a standard of comparison for similar products or services of the benchmarking organization. This type of benchmarking confirms more costly with traditional competitive intelligence activities. in these competitions product or service is compared feature by feature with the product or servic3e of the company performing the analysis. GOAL SETTING Benchmarking is used as a means of identifying best practices. The standards set by excellent companies in many cases define what is possible on a state of art performances scale.These goals can help organizations accelerate their performance curves as they strive for continual improvement.Many small to medium size companies cannot hope to achieve the levels of performance of excellent companies that have far greater access to technologies,capital,or other resources.However,these companies can benefit dependant on organizational resources. PERFORMANCE ASSESSMENT TOOL Benchmarking is defined as the process of identifying and learning from the best practices in the world. By identifying the best practices, organizations know where they stand in relation to other companies. The other companies can point out problem areas and provide possible solutionsBenchmarking allows organizations to better understand their administrative operations, and targets areas for improvement. In addition, benchmarking can eliminate waste and improve a companys market share. CONTINUOUS IMPROVEMENT TOOL Benchmarking is increasing in popularity as a tool for continuous improvement. Organizations that faithfully use benchmarking strategies achieve a cost savings of 30 to 40 percent or more. Benchmarking establishes methods of measuring each areas units of output and costs. In addition, benchmarking supports the process of budgeting, strategic planning, and capital planning. ENHANCED PERFORMANCE TOOL Benchmarking also allows companies to learn new and innovative approaches to issues facing management, and provides a basis for training. Benchmarking improves performance by setting achievable goals. ENHANCED LEARNING TOOL Another reason to benchmark is to overcome disbelief and to enhance learning. For example, hearing about another companys successful processes and how they work helps employees believe theres a better way to compete. GROWTH POTENTIAL TOOL Benchmarking may cause a needed change in the organizations culture. After a period of time in the industry, an organization may become too practiced at searching inside the company for growth. The company would be better off looking outside for growth potential. An outward-looking company tends to be a future-oriented company usually leading to an enhanced organization with increased profits. JOB SATISFACTION TOOL Benchmarking is growing and changing so rapidly, benchmarkers have banded together and developed how-to networks to share methods, successes, and failures with each other. The process has successfully produced a high degree of job satisfaction and learning. HELPS OVERCOME PARADIGM BLINDNESS Benchmarking is a powerful management tool because it overcomes paradigm blindness. Paradigm Blindness can be summed up as the mode of thinking, The way we do it is the best because this is the way weve always done it. Benchmarking opens organizations to new methods, ideas and tools to improve their effectiveness. It helps crack through resistance to change by demonstrating other methods of solving problems than the one currently employed, and demonstrating that they work, because they are being used by others. COMPETITIVE BENCHMARKING Some authors call benchmarking best practices benchmarking or process benchmarking. This is to distinguish it from what they call competitive benchmarking.ÂÂ  Competitive benchmarkingÂÂ  is used in competitor analysis. When researching your direct competitors you also research the best company in the industry (even if it serves a different location) .(MichaelJ.Spendolini n.d.) BENCHMARKING PROCESS: Identify your problem areasÂÂ   Because benchmarking can be applied to any business process or function, a range of research techniques may be required. They include: informal conversations with customers, employees, or suppliers; exploratory research techniques such as focus groups; or in-depth marketing research, quantitative research, surveys, questionnaires, reengineering analysis, process mapping, quality control variance reports, or financial ratio analysis. Identify organizations that are leaders in these areasÂÂ   Look for the very best in any industry and in any country. Consult customers, suppliers, financial analysts, trade associations, and magazines to determine which companies are worthy of study. Survey companies for measures and practicesÂÂ   Companies target specific business processes using detailed surveys of measures and practices used to identify business process alternatives and leading companies. Surveys are typically masked to protect confidential data by neutral associations and consultants. Visit the best practice companies to identify leading edge practicesÂÂ   Companies typically agree to mutually exchange information beneficial to all parties in a benchmarking group and share the results within the group. Implement new and improved business practicesÂÂ   Take the leading edge practices and develop implementation plans which include identification of specific opportunities, funding the project and selling the ideas to the organization for the purpose of gaining demonstrated value from the process. THE ETHICAL ASPECTS OF BENCHMARKING In benchmarking, ethics is defined as principles, guidelines, or standards that determine a protocol of interaction between individuals and organizations. Many ethical questions may arise in the course of a benchmarking procedure. Two of the main questions which Johnson deals with are: * Can the recipient take credit for developing the idea, approach, and so forth? * If the benchmarking partner received information of tremendous value, can they take credit for it in their advertising? These questions cannot be answered quickly or easily. Partners in the benchmarking process need to communicate their expectations and feelings on these issues, and to follow some basic guidelines. They should establish specific and detailed ground rules. This includes the notion that ideas are not shared to gain competitive advantage, but are shared so both partners can improve or benefit. Questions should not be asked about a companys sensitive data; partners shouldnt be pressured to divulge this information to continue the benchmarking process. Data should be treated as confidential; it shouldnt be used to limit competition or to gain business. (MichaelJ.Spendolini. THE BENCHMARKING BOOK. AMERICAN MANAGEMENT ASSOCIATION-AMACOM.) COST OF BENCHMARKING Benchmarking is a moderately expensive process, but most organizations find that it more than pays for itself. The three main types of costs are: Visit costs This includes hotel rooms, travel costs, meals, a token gift, and lost labour time. Time costs Members of the benchmarking team will be investing time in researching problems, finding exceptional companies to study, visits, and implementation. This will take them away from their regular tasks for part of each day so additional staff might be required. Benchmarking Database Costs Organizations that institutionalize benchmarking into their daily procedures find it is useful to create and maintain a database of best practices and the companies associated with each best practice now. TYPES OF BENCHMARKING Process benchmarkingÂÂ   The initiating firm focuses its observation and investigation of business processes with a goal of identifying and observing the best practices from one or more benchmark firms. Activity analysis will be required where the objective is to benchmark cost and efficiency; increasingly applied to back-office processes where outsourcing may be a consideration. Financial BenchmarkingÂÂ   Performing a financial analysis and comparing the results in an effort to assess your overall competitiveness and productivity. Benchmarking from an Investor perspective- Extending the benchmarking universe to also compare to peer companies that can be considered alternative investment opportunities from the perspective of an investor. Performance BenchmarkingÂÂ   Allows the initiator firm to assess their competitive position by comparing products and services with those of target firms. Product BenchmarkingÂÂ   The process of designing new products or upgrades to current ones. This process can sometimes involve reverse engineering which is taking apart competitors products to find strengths and weaknesses. Strategic BenchmarkingÂÂ   Involves observing how others compete. This type is usually not industry specific, meaning it is best to look at other industries. Functional BenchmarkingÂÂ   A company will focus its benchmarking on a single function to improve the operation of that particular function. Complex functions such as Human Resources, Finance and Accounting and Information and Communication Technology are unlikely to be directly comparable in cost and efficiency terms and may need to be disaggregated into processes to make valid comparison. Best-in-class BenchmarkingÂÂ   Involves studying the leading competitor or the company that best carries out a specific function. Operational BenchmarkingÂÂ   Embraces everything from staffing and productivity to office flow and analysis of procedures performed. Energy BenchmarkingÂÂ   Developing an accurate model of a buildings energy consumption with the purpose of measuring reductions in usage. As mentioned earlier, many companies use the benchmarking process: Avon Products, Exxon Chemical, Microsoft, Ford, and General Motors. Xerox is known as the pioneer of benchmarking. By benchmarking, Xerox cut quality problems by two-thirds, cut manufacturing costs in half; cut development time by two-thirds; and while increasing volume cut direct labor by 50 percent and corporate staff by 35 percent. All improvements were not a direct result of benchmarking: The improved process and climate indirectly improved the rest of the organization. General Motors (GM) compares itself to the best-in-class company. This benchmarking shows GM where they are going wrong and that it is possible to do it better. The company compared its labor hours per vehicle to Fords: GM had 30 labor hours per vehicle; Ford only had 19 a dramatic gap. GM also benchmarked from Toyota. Toyota was superior in four areas: defects per vehicle, warranty cost per vehicle, order response time, and fasteners per car. GM needed to improve in all these areas for future success. The company also looked at Suzuki, regarded as a leader in properly painting vehicles the first time. Finally, GM looked at NUMMI in three areas: external JIT parts, internal JIT parts, and fastener part numbers. Due to the suffering automotive market in the early 1980s, Ford needed to change its operations to cut costs. Ford managers believed they could improve processes in the accounts payable department. After gathering, analyzing, and comparing data with Mazdas accounts payable operations, Ford retooled its own accounts payable operations and reduced costs by 5 percent. (DEAN ELMUTI 1997) CONCLUSION Benchmarking has consequences which are beyond the process itself: it reforms all the levels of the company.; modifies the process of manufacture of the product leads(drives) ; also reforms the hierarchical organization of the company, the product itself, and the state of mind of the employeesThere is no doubt that benchmarking is here to stay. Any company should benchmark if it wants to attain world-class competitive capability, prosper in a global economy, and above all, if it wants to survive. These trends are not an option for companies anymore; they should be done by all who want to remain competitive. All companies strive to be profitable, competitive, and successful. Benchmarking can help any company succeed-as long as it is applied correctly ABSTRACT Benchmarking is the search for industry best practises. Improvements from learning mean doing things better, faster, and cheaper. This then allows organizations to develop plans on how to adopt such best practice, usually with the aim of increasing some aspect of performance. Benchmarking is often treated as a continuous process in which organizations continually seek to challenge their practices.Benchmarking is a way to move away from tradition and one of the major strategic management tools. It carefully dissects the organization into segments, and then removes and inserts pieces to account for changing environments. Changes occur once the process has started, and will continue to change and mold the organization for as long as individuals are continuously striving to make it better.

Mr Rochester Character Analysis

Mr Rochester Character Analysis Edward Rochester does not resemble a hero portrayed in fairy tales, characters who remain static throughout the plot. He is rather a dynamic and round character that changes notably. He has values that are far from freedom, respect, and integrity. In his behaviours to Jane, one can notice dramatic changes. First of all, his being passionate, guided by his senses rather than his rational mind, drags him to marry an insane woman. The situation of being married to a mad woman, and further being lied to by his own family for money matters, makes him an outcast despite of his high social status. He feels trapped and all the lies Rochester believes soon form a sense of distrust, and cause him grow more and more distant from society. Secondly, Rochester is a cynical rebel who refuses to accept and yield to the orders of society. It is only when he meets Jane, a woman who is intellectually equal to him and morally superior than him and who understands his true nature, that his sensitivity is revealed. He completely fails to notice his social rank and ignores others opinions, and clearly falls in love with Jane. Rather than holding appropriate class boundaries, Rochester makes her feel as if he were my relation rather than my master. (242) He loves Jane in a physically plain but in a mentally deep way which shows that he is not shallow. However, his unfortunate marriage to Bertha Mason becomes an obstacle to his union with Jane.This time Rochester,ÂÂ  purposely outcasts himself from his former enchained life with Bertha in search for a real chance for true love. A great deal is written and discussed about Rochesters marriage and character which comes along with a lot of questions. Even though Rochester didnt know his wife was insane, can he be blamed for the marriage to a woman he hardly knew? Under English law at the time, a man whose wife became insane could not get a divorce. But is Mr. Rochesters way to deal with this problem by hiding his mad wife away the right thing to do? And does the fact that he thinks he deserves happiness give him the right to deceive the woman he loves? It is true that he is madly in love with Jane, yet the fact remains that his approach to win and secure her as a wife was wrong for Mr. Rochester was very inconsiderate of the reality. He did not care about what kind of a position it would put the others when he got what he wished, marrying Jane. Rochester was determined to marry her and he did not think about the immorality of the marriage considering he was already married to Bertha Manson even though one can guess it would be devastating for Jane. However Jane brings out the best in him especially as the story advances toward the end, their differences causes the enlightenment. Bronte uses Jane as a light to shed on Rochesters character. In the end he becomes a new man, his dark secrets and qualities ceases to be a part of his life. As I mentioned in the beginning, the basis of Rochesters flawed life was his dark secrets, and past along with a scandal or sin. And all these become forgivable only when the actual circumstance is revealed and when all the hidden facts are lightened. He is the first person in the novel to offer Jane lasting love and a real home. Although Rochester is Janes social and economic superior, and although men were widely considered to be naturally superior to women in the Victorian period, Jane is Rochesters intellectual equal. Moreover, Jane proves to be his moral superior after the fact that Rochesters marriage to Bertha is revealed. Prior to meeting Jane his character was wild and impulsive. Jane helped him heal his wounds and confront with himself. Keeping secrets about himself and his past could do nothing good for him but only promoted dishonesty and destroyed his relationship with Jane. And only when he could break the chains from his past could he be free and become a new man. Towa rds the end of the novel, Rochester grows and develops from his suffering allowing the two characters to move on and find happiness together. He finally pays for his sins, he becomes a suitably gentle husband for Jane, who morally guides and corrects him at novels end.

The Court Martial of Billy Mitchell Essay -- essays research papers

The Court Martial of Billy Mitchell General William â€Å"Billy† Mitchell of the U.S. Army – Air Corp was a forward thinking officer who saw a need for the military to create an Air Force as a separate branch within the military structure. General Mitchell could foresee that technological advances would make air warfare an integral part of combat power in future operations. The military heirarchy, however, did not agree with his assessment. The heirarchy of the military put limitations on his abilities to prove his ideas. They did this by not providing proper funding to keep the aircraft they had in working order, and setting General Mitchell up for failure with testing standards in which they set the requirements.   Ã‚  Ã‚  Ã‚  Ã‚  Billy Mitchell faced many challenges in his desire to creat an â€Å"Air Force† within the U.S. Armed Forces. He had to gain support from the Army, Navy, and congressional leaders – many of whom thought air warfare was still more a carnival attraction than a viable option for our nation’s defense. He also needing funding as the equipment the Air Service had was obsolete and often in disrepair, causing several wrecks and costing service members lives.   Ã‚  Ã‚  Ã‚  Ã‚  The military structure were adamantly against a separate â€Å"Air Force†. Both the Army and Navy were worried about sharing their limited budgets with yet another entity. They also worried that another force structure would take away from their pool of possible soldiers and sailors. They reasoned that Naval s...

Drug Abuse Among Professional Athletes Essay examples -- Substance Abu

Drug abuse among professional basketball players is a problem as old as time. In some circumstances it may not be the athletes fault. For example when they are treating a minor cough or a cold, the medications used will sometimes contain small amounts of alcohol. On the other hand some athletes purposely abuse drugs for a variety of reasons. Some attempt to cover up the presence of other drug abuse but most abuse drugs because they will enhance their performance. The most common abused drugs in professional basketball are: anabolic steroids, marijuana, and amphetamines. Each drug has its own effect on performance, and disciplinary actions.   Ã‚  Ã‚  Ã‚  Ã‚  When an athlete uses anabolic steroids, they usually feel that they will give them a competitive advantage over their opponents. If you think that only football players, weightlifters, and sprinters take steroids your wrong. Steroids are designed to mimic the bodybuilding traits of testosterone. The exact effects of anabolic on the athlete and athletic performance remain controversial but some test results have shown that steroids affect the professional basketball player’s performance in different ways. Steroids are said to make the athlete feel more energized, more aggressive, and able to train harder. When athletes choose to abuse anabolic steroids it also results in disciplinary actions if they are tested positive by the league. Three types of testing in professional basketball are reasonable cause, first-year, and veteran testing. If any player tests positive for the first time during any of the three tests, they will be suspended for five games. A sec ond offense for anabolic steroid abuse will result in a ten-game suspension and a third offense will result in a twenty-five game suspension. The National Basketball Association will release any player if they are convicted of, or plead guilty to a crime involving the use or possession of steroids.   Ã‚  Ã‚  Ã‚  Ã‚  Marijuana is the most widely used of the illicit drugs in the National Basketball Association. Marijuana has many negative affects to using it: it impairs skills requiring eye-hand coordination and fast reaction time. It also reduces motor coordination, tracking ability, and perceptual accuracy. When using marijuana you may have side affects such as difficulty concentrating and times where you are in dreamlike situ... ...  Ã‚  Ã‚  Ã‚  Arrested for marijuana possession at airport in Canada. 1997  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Mookie† Blaylock  Ã‚  Ã‚  Ã‚  Ã‚  NBA Basketball  Ã‚  Ã‚  Ã‚  Ã‚  Arrested for possession of marijuana while already on probation for marijuana and drunk driving convictions. 1996  Ã‚  Ã‚  Ã‚  Ã‚  Isaiah Rider  Ã‚  Ã‚  Ã‚  Ã‚  NBA Basketball  Ã‚  Ã‚  Ã‚  Ã‚  Arrested for marijuana possession. 1996  Ã‚  Ã‚  Ã‚  Ã‚  Juwan Howard  Ã‚  Ã‚  Ã‚  Ã‚  NBA Basketball  Ã‚  Ã‚  Ã‚  Ã‚  Arrested for driving under the influence. 1995  Ã‚  Ã‚  Ã‚  Ã‚  Vernon Maxwell  Ã‚  Ã‚  Ã‚  Ã‚  NBA Basketball  Ã‚  Ã‚  Ã‚  Ã‚  Charged with marijuana possession. Convicted in 1998, spent 45 days in jail.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  -http://www.drugs.indiana.edu/prevention/ideas/drugged_athletes.html

Draft Letter Going to War in Vietnam Essay

It was a very hot and humid day. I will never forget that awful day. I just had gotten home from work; the traffic that day was horrible. The mail was in top of my dining room table, and there it was on top of all the mail, the only thing o saw on the envelope was draft and I was the addressee. My reaction was â€Å"Oh My God†, my heart was pounding very heart it felt like it was about to jump out of my chest, my ears were burning. All I could think was that we are told that we are helping people and fighting for our freedom. Instead innocent people are being killed; I have lost most of my freedom. What options do I have, leave the country, or hide for the rest of your life. Or go to war not only means serving your country, but helping people along the way. What were my advantages or disadvantages? None of those options were good, at that point I was in shock, and I just could not believe that this was happening to me, till this day I do not remember ever opening that letter. The advantage I saw was, if I went to war the money I will be getting. With that money I could help my family, have a better future, and it can help me open a lot of doors. The disadvantage is that I can get killed, injured, my family would be devastated, but at the same time they would feel proud. To some, including me the Vietnam War was a crime, an attempt by the United States to suppress a heroic Vietnamese national liberation movement that had driven French colonialism out of its country. To others, the Vietnam War was a forfeit, a just war needlessly lost by timid policymakers and a biased media. For many including myself, the Vietnam War was a tragic mistake brought about by U.S. leaders who exaggerated the influence of communism and underestimated the power of nationalism. Another advantage would be that I would come back as a hero, either alive or in a box. I will still be considered a hero, that is, if I live in a community that is very patriotic. But in my case I do not live in a community like that. The disadvantage would be that my community would not even know that I have gone to war. All I could think was that the draft discriminated against the poor, the less educated and ethnic minorities. Many of us were drafted into the Army against our will nearly all of us are kept in its grasp against our will all in order to carry out this illegal, immoral, and unjust war. We are forced to fight and die in a war we did not create and in which we don’t believe. There are advantages and disadvantages in every war that can either be minute details or change the whole course of war. I would go to war even knowing that I may get killed, injured. Morally is the right thing to do. As a citizen we have a duty to this country whether or not we believe in the cause of war. Initially, people going to Vietnam bought the domino theory. They willingly went because they were defending freedom and democracy and the American way, those who were sent to Vietnam knew that they did not have the support of the American people, knew that they were there in support of a failed policy, and knew that they were not defending freedom or democracy, but were pawns in an ongoing political struggle. My conclusion after writing this is that never think for a moment that you are the only one side that is suffering you might be physically safe from the effects of war. But war is an insidious enemy and all the more damaging when it is implications reach you, others through a dead and suffering.

Reporting Stockholders Equity

ckChapter 11 – Reporting and Analyzing Stockholders’ Equity I. Characteristics of a Corporation (Publicly held (closely held)) * Separate legal existence; * Limited liability of stockholders; limited to investment * Transferable ownership rights; * Ability to acquire capital; * Continuous life; * Corporation management: Shareholders Shareholders * Voting rights * Profit sharing * Preemptive right * Residual claim Board of Directors Board of Directors CEO(PRESIDENT) CEO(PRESIDENT) . other vps . other vps CIO CIO CFO CFO COO COO Treasurer Treasurer ControllerController * Government regulations; file application with state government-> corportate charter by-law * Additional taxes. Double taxation II. Stock Issue 1. Basics of Stock Issue: (1) Authorized Stock: The maximum amount of stock that a corporation is authorized to sell by corporate charter. (2) Outstanding Stock: Capital stock that has been issued and is being held by stockholders. Legal capital= # of issued shares x par value per share (3) Par Value Stock: Capital stock that has been assigned an arbitrary value per share in the corporate charter. 4) No-par value Stock: Capital stock that has not been assigned a value in the corporate charter. (5) Stated Value of No-par value Stock: Value per share assigned by the board of directors to no-par value stock. Authorized Issued Outstanding (6) Paid-in Capital: Amount paid to corporation by stockholders for shares of ownership. (7) Retained Earnings: Earned capital held for future use in the business. 2. Accounting for Common Stock Issues: (1) Issuing Stock at Par Example 1: On March 1, 2002, XYZ Company issued 10,000 shares of $10 par value common stock at par. (2) Issuing Stock above ParExample 2: On June 10, XYZ Company issued 5,000 shares of $10 par value common stock at $12 per share. Cash 60,000(=5,000Ãâ€"12) Common Stock50,000 Additional paid in capital14,000 (Paid in capital in excess of par) What if the common stock issued on June 10 is n o par stock with a stated value of $10? Cash60,000 Common Stock50,000 Additional Paid in capital10,000 3. Treasury Stock: * A corporation’s own stock that has been issued, fully paid for, and reacquired by the corporation but not retired. * Issued but not outstanding (1) Corporations acquire treasury stock to †¦ reissue shares to employees under bonus and stock compensation plans; * increase trading of company’s stock in securities market to enhance market value; * reduce number of shares outstanding , and therefore increase earnings per share (EPS); * prevent a hostile takeover. (2) Purchasing Treasury Stock: * Cost method: Treasury stock is increased by the amount paid to reacquire the shares, and is decreased by the same amount when the shares are later sold. Example 3: On October 15, 2002, XYZ Company acquired 2,000 shares of the stock issued on June 10 in Example 2 at $9 per share.On the balance sheet: Stockholders equity Paid in capital Common stock (par) Ad ditional paid in capital Retained earnings Less: Treasury stock (a contra equity account) * Effect of purchasing treasury stock on common stock: * Effect of purchasing treasury stock on stockholders’ equity: III. Preferred Stock * Preferred stock has contractual provisions that give it preferences over common stock in dividends and assets in the event of liquidation. * Preferred stockholders do not have voting rights. Example 4: On November 5, 2002, XYZ Company issued 5,000 shares of $10 par value preferred stock for $13 per share.Cash65,000 Preferred Stock50,000 Additional Paid in capital15,000 1. Dividend Preference * Preferred stockholders have the right to share in the distribution of corporate income before common stockholders; * The first claim to dividends does not guarantee dividends; * Cumulative Dividends: Preferred stockholders receive current and unpaid prior-year dividends before common stockholders receive any dividends. When dividends are cumulative, preferred dividends that were not declared in a given period are called dividends in arrears. Example 5:XYZ Company issued 10,000 shares of 10%, $5 par value cumulative preferred stock On January 1, 1999. XYZ had not declared any dividends until December 31, 2002. 1999: 10,000x 5 x 10% = 5,000 2000: 5,000 2001: 5,000 2002:5,000 Dec 31, 02: $20,000 in cash * Dividends in arrears are not liability. They should be disclosed in the notes to financial statements. 2. Liquidation Preference- Creditors Prefered stock holders common stock holders IV. Dividends * A distribution by the corporation to the stockholders on a pro rata basis. 1.Cash Dividends: (1) To pay a cash dividend, a company must have: * retained earnings * adequate cash * declared dividends (2) Some Important Dates: * Declaration date: the date the board of directors formally authorizes the cash dividends and announces it to stockholders. Retained earnings Dividends payable * Record date: The date ownership of outstanding shares is de termined for dividend purposes. * Payment date: The date dividends are paid. Dividends payable Cash * Cumulative effect of declaration and payment of cash dividends on accounting equation: 2. Stock Dividends: Companies pay stock dividends to †¦ * Satisfy stockholders’ dividend expectations without paying cash; * Increase the marketability of its stock; * Emphasize that a portion of stockholders’ equity has been permanently reinvested in the business. * Small Stock Dividend: If the stock dividend is less than 20%-25% of the corporation’s issued stock, it is recorded at the fair market value per share. * Large Stock Dividend: If the stock dividend is greater than 20%-25% of the corporation’s issued stock, it is recorded at par or stated value per share. Example 6:On February 1, 2003, the balance of XYZ Company’s retained earnings was $2,500,000. XYZ Company declared a 15% stock dividend on its 100,000 shares of $10 par value common stock. The cu rrent fair market value of XYZ Company’s stock is $13 per share. Retained earnings195,000 Stock dividend Distributable150,000 Additional paid in capital45,000 On March 1, 2003, XYZ Company issued the dividend shares. Stock dividend distributable 150,000 Common Stock150,000 – Effect of stock dividends on stockholders’ equity and its components: S/E Retained earnings195,000 (Decrease)Common Stock150,000 (Increase) Additonal paid in capital45,000 (Increase) NET EFFECT: No change V. Stock Splits: * The issuance of additional shares of stock to stockholders accompanied by: * A reduction in the par or stated value; * An increase in number of shares. No entry * Effect of stock splits on stockholders’ equity and its components: S/E Common Stock (Par value per share x total # of issued shares) Add. Paid in capital Retained Earnings VI. Retained Earnings: * Net income that is retained in the business. Revenues (Credit, transfer to credit of income)Income Summary(Tr ansfer N. I to retained earnings credit) Retained Earnings Expenses (Transfer debit to debid of income summary) * Deficit: a debit balance in retained earnings. Deficit is reported as a deduction in stockholders’ equity on the balance sheet. * Retained earnings restrictions- Debt covenants VII. Financial Statement Presentation: 1. Balance Sheet S/E Paid-in-capital Common stock (par value) Preferred stock (par value) Additional paid in capital Retained earnings Less: Treasury Stock 2. Statement of Cash Flows Cash Flows from Financing ActivitiesIssuance of stock (cash inflows) Repurchase of stock (cash outflows) Dividend payment (cash outflows) VIII. Ratio Analysis: 1. Dividend Record * Payout Ratio: Cash dividends declared on common stock/ Net income 2. Earnings Performance * Return on common stockholders’ equity ratio: (NI-Prefered stockholders dividends)/Average common stockholders equity 3. Debt versus Equity Decision | Bond| Common Stock| Owners’ Control| Not affected| Diluted| Tax Benefit| Bond interests are tax deductible| Dividends are not deductible| Financial Ratio(EPS)| Not affected| Lower| Fixed payment| Yes | No|