Different Definitions Of Leadership And Leadership

Leadership: Leadership is a process whereby an individual influences a group of individual to achieve a common goal (pp5). However, there are many different definitions of leadership as there are people who have tried to define it because the word can have different meaning for different people. Leadership is similar to the management in many ways because they both involve influence, concerned with effective goal and work with people. Leadership helps to produce change and movement by establishing direction, such as creating the vision, clarifying big picture and set strategies. Similarly, it helps aligning people along with motivating and inspiring them (12) Women in Leadership: According to Sigmund Freud, when you meet a human being,†¦show more content†¦Women have been key players in U.S. history since colonial times. During the Revolutionary War, women were firing cannons alongside male soldiers and discussing patriotic duties to their husbands and family members. The image of the woman as ruler of the domestic sphere, while not entirely false, is proven wrong by the words and deeds of women like Abigail Adams, Charity Clarke Moore and Deborah Sampson Gannett. Aside from their gender, female leaders don t have much else in common. Some have brought peace to troubled lands, while others have strewn discontent. Some have been competent or brilliant, others inept or corrupt. They come from political positions ranging from arch-conservative to ultra-leftist and represent all the world s religions The landscape of women’s leadership emergence has been steadily shifting since the 1970s. As women’s educational achievements have increased, so have their job opportunities. In 2009, women in the U.S. accounted for 51% of all those employed in management and professional occupations.6 However, according to Catalyst, a U.S. organization promoting women in business and leadership, women hold only 14.4% of executive positions in Fortune 500

Essay on The Evolution of Human Mating - 937 Words

The Evolution of Human Mating It may seem obvious to some why people mate, however there are many facets to human mating. Psychology has shown that reasons for mating have gone beyond the scope of love and physical attractiveness. People may search for mates who resemble archetypical images of the opposite-sex parent, mates with characteristics that are either complementary or similar to ones own qualities, or mates with whom to make an exchange of valuable resources (Buss 238). Although these theories play a key role in understanding patterns in human mating preferences, evolutionary psychology and sexual selection theory provide more concrete frameworks for explaining human mating. Evolutionary framework for human mating is†¦show more content†¦Consequently, in short term relationships it has become an active part of a mans repertoire. One strategy that has evolved as a result of this problem is for males to lower their standards in looking for an acceptable mate. Such standards include age, intel ligence, personality traits, and status (whether or not she is involved in another relationship). Another strategy that has evolved is to limit the time it takes to seek sexual intercourse from a woman. More time spent on seeking sexual involvement from one female, the less time that can be spent on making another effort for sexual intercourse from another. Men prefer to spend the least time, energy, and resources in making a short-term relationship successful. It is for this reason that they look for sexual accessibility. A mans strategy for solving the problem of sexual accessibility is to look for sexual experienced women. Often men concur promiscuity to be one sign of experience. They steer away from women who seem prude, conservative, or have a low sex drive. Fertility and reproductive value are high on the list of important qualities in a short-term mate. Fertility is the probability of present reproduction. 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Managing Finance Principles and Techniques NML

Question: Describe about the Managing Finance Principles and Techniques of NML? Answer: Importance of costs in pricing strategy of NML Costs are important in pricing system as it provide NML to assess the price of the different products at overall profit or making profit separately. As stated by Berry and Jarvis (2005), costing method in NML is different comparing to others. Company used least square method of costing technique as there are three different products in its portfolio. Therefore, company has to deal with many mixed cost that are hidden in production of three products (Drury, 2009). In this context, NML is using the cost based pricing staretgy where all the costs are segregated into variable cost and fixed cost, thus introducing the cost based on flexible activity in operation (Glynn etal. 2003). Total Cost 7000 8000 9000 Units 200 300 400 Break Even 35 26.66667 22.5 Selling price (if Profit = 20%) 42 32 27 It can be analysed that by applying the cost based pricing, the selling price shows different value for different cost units. In order to gain a profit of 20%, the company might have to fix selling price of 42 for each product in order to cover the total cost of 7000. Therefore, it is similar for other costs. Design of a costing system and proposed improvements in costing and pricing system A costing system may be designed on basis of activities in the operation. The system is widely used in production as it provides the company opportunity of defining its costing method according to the activities (Harris and Sollis, 2003). The limitation that is associated with the existing costing system is that it may limit the ability of the company to price their product in different market segments. On the other hand, unrealized profit or revenue would be substantial. Moreover, the future demand for any particular product may not be accounted under this method. Activities Level of output Cost in Total Cost in Activity 1 200 **** Activity 2 300 **** Activity 3 400 **** Activity 4 500 **** **** Table 1: format for activity-based costing The system adapted by NML might be improved if it is changed into an activity based costing. Due to presence of costing details of every activity of different levels, it would be easier for the managers to control the cost of overall production (de Jong et al. 2013). By employing ABC method, the company would be receiving reliable and accurate results regarding costs. Moreover, the overheads that comprise variable costs and fixed costs can be controlled by effective monitoring and controlling of activities. Therefore, effective decision can be made by the firm relating to product lines profitability. Recommendations of proposals for improving the existing system Form the point of view of costing system, it is recommended that company must follow a controlling system so that cost can be controlled in many stages and thus increasing the operating margin. In order to improve the existing costing system, the company can adopt policy of competition based pricing. It will help the company in finalizing the product price after careful analysis of prices fixed by competitors. Once the product costs are calculated then the company can fix the price of their each product. Therefore, weakness of cost based pricing of the company can be overcome by adopting competition based pricing. Forecasting techniques for revenue and cost As stated in the problem, the forecasted increase in some financial matters has changed the financial statement of company. Due to change in sales and cost of sales, the increase in operating profit has gone up by 24.66%. Unchanged interest cost in coming year provides the company to post a better PAT in 2015 as estimated. According to Lin (2012), cost can be reduced by controlling the interest cost of borrowings. Further, rising in net working capital as projected, shows the way of reducing the cost of short-term loan. 2014 2015E turnover 300 330 cost of sales (deducting depreciation) 164 180.4 operating profit 120 149.6 24.66667 interest cost 30 30 pretax profit 90 119.6 corporation tax 24 28 profit after tax 66 91.6 proposed dividend 44 48.4 retained earnings 26 43.2 Table 2: forecasting of revenue and cost The forecasting techniques that can be used by the company are moving averages and time series analysis. By using moving averages, the company would be successful to smooth the financial data and it will be easy for the company to spot trend. As a result of that, they would be known whether they will be making profit or loss in future. On the other hand, time series analysis can be effective in forecasting the revenue and costs in future by studying the historical data of the company. Therefore, on the basis of forecast, the company can make effective decision for their business. Assessment of funding method of expansion program ABZ Ltd Retained earnings: The Company can finance their expansion program by using their retained earnings. It is seen that in 2014, the company has a retained earnings of 26 million in 2014. Therefore, it can be used and by using it company may not be paying any interest to others. Banks: The financial institution can be other source to gain funds. The company can borrow money as per their requirement. However, the company has to deposit any assets as a security. On the other hand, the company can also go overdraft in order to fund their expansion program. Appropriate budgetary target for the company in next year The budgetary targets that have been selected for each of the products that are PS and TG of NML are variable costs, fixed costs and sales production. Through sales production, the company will know how much production has been made in next year in comparison to last year. Similarly, variable and fixed costs can also be studied to know much costs have incurred for each of the product. Budgetary sales unit for PS is 5000 units while opening inventory of that product is 100 units. Further, closing inventory of PS is 1100 units. Therefore, estimated units to be produced are (5000-100+1100) = 6000 units for PS in the certain period. sales and production budget: master budget The following table shows the master budget of company: PS TG Budgeted Sales 5000 1000 Required Closing Inventory 1100 50 Opening Inventory 100 50 Budgeted Production In Units 6000 1000 Selling Price 95 130 Sales Revenue 570000 130000 Variable Cost 75 85 Total Variable Cost 450000 85000 Total Fixed Cost 35000 15000 Net Income 85000 30000 Table 3: Production and sales budget It can be discussed that, the PS product will generate an income of 85000 with a total cost of 485000. Moreover, it is seen that the selling price is low in comparison to selling price of product TG. Therefore, the income that would be generated from product TG is 30000. However, it can also be noticed that, production unit of TG is less than PS due to that income and cost is less. Comparison of actual expenditure and income to master budget Actual Budgeted Income Variance Sales 4000 5000 1000 Selling Price 96 95 -1 Production 6500 6000 -500 Sales Revenue 624000 570000 -54000 Total Cost 485000 485000 0 Income 139000 85000 -54000 Actual and estimated income of PS Actual Budgeted Income Variance Sales 900 1000 100 Selling Price 125 130 5 Production 950 1000 50 Sales Revenue 118750 130000 11250 Total Cost 100000 100000 0 Income 18750 30000 11250 Actual and estimated income of TG It is seen that company has generated an income of 54000 more as per the prepared budgeted income. Therefore, product PS provided a better value to the company. The company has increased the selling price by 1 unit due to increase in the total cost. As a result, the 130000 income has been generated from the sale of PS. On the other hand, the company has witnessed a loss of 11250 from the sale of TG. The reason is decline in the sales value and production. Moreover, there is no decline in the value of total cost due to that there is significant loss of income. Impact of monitoring budgetary policy As stated by Burger and Hawkesworth (2013), preparing a budget does not make any sense as management needs to control all financial aspects as per the budget produced at the starting of the year. Therefore, monitoring of budget is an exceptional tool in this segment as it provides the management to have control over the various activities of operation. In order to monitor the budget of the company, the management has counted on variance analysis. Both favourable variances and adverse variances are known by the management. Therefore, it helps in identifying possible gap in actual figures and budgeted figures. It is true that systematic observation provides control over the deviation from the estimated figure. Moreover, financial experts are hired for monitoring budget (cipfa.org.uk, 2015). Recommended process for cost reduction From the given problem, NML may apply the process of reduction of holding inventory for lesser days as it will reduce the cost of materials in revenue account. In order to have a better control over the cost, the management can count on Total Quality Management. It will help in increasing the productivity of the company through effective management of costs. Therefore, the company can witness quality production with minimum utilization of cost. Value Analysis can be other recommendation which will be helpful in enhancing the work effectiveness. Through this, the management can identify extra or unnecessary costs that are bear by the company. As a result, the company will receive quality and better production. Activity based costing for company The activity-based costing may be used in NML in evaluating the costing of the company. It provides the means of controlling the cost of every activity mainly for a longer period of production (aat.co.uk, 2015). Through employing ABC method, activities that are related with the production process can be effectively identified. Moreover, each costs can be also be identified such as direct material, direct labour, overhead costs, etc that usually not considered. On the other hand, the cost driver can also be calculated by using ABC method such as machine hours, testing hours, labour cost, etc. Investment appraisal Financial appraisal methods for the projects and justified decision The appraisal method of selecting the project is normally considered as the quantitative approach of assessing the future of investment so that risk associated with the investment becomes low. This is the main strategy applied by the investors in a long-term perspective (Bized.co.uk, 2015). As stated by White et al. (2003), different techniques of assessments are applicable for different objectives of the investment and on project basis. In this context, net present value (NPV) method is applied for evaluating the investment decision between two projects A and B. The NPV estimation of project A provides that investment will yield 207357.24 after five years of investment and at the same for the project B will be 309806.15. Therefore, from the first look any investor will go for the project B, while it is true that the sum invested in this project is more than that of the project A. Thus, another method is necessary where irrespective of sum of the invested sum; only on basis of period of investment the rate of return might be calculated. Thereby, no decision can be made from this technique of appraisal. option A Year cash flow NPV 0 -400000 $207,357.24 1 100000 2 140000 3 180000 4 210000 5 230000 option B Year cash flow NPV 0 -950000 $309,806.15 1 250000 2 300000 3 350000 4 400000 5 450000 Table 5: Investment appraisal using NPV methods Evaluation of two options between A and B option A Year cash flow NPV IRR ARR 0 -400000 $207,357.24 27% outflow 40000 1 100000 return from investment 860000 2 140000 rate of return 20.5 3 180000 4 210000 5 230000 option B Year cash flow NPV IRR ARR 0 -950000 $309,806.15 22% outflow 95000 1 250000 return from investment 1750000 2 300000 rate of return 17.42105 3 350000 4 400000 5 450000 Table 6: Investment appraisal using IRR and ARR method From the above table, it might be observed that project A and B are appraised using the IRR and ARR method where both methods state that investors must go for the project A as the project B yields low rate of return within the period. Project A has tested better result from the both method so decision can be taken for making investment for this project. Further, it is recommended that project A is better looking in terms of assessing techniques still now so company must go for it. Report on appropriateness of strategic investment decision Investment decision making is important approach for any business to enhance their business and acknowledge growth. It is observed that only quantitative method of appraising is considered while the risk associated with the projects are not being assessed. Therefore, without knowing the facts on the qualitative information of the project risk associated cannot be evaluated. Further, the macroeconomic changes and risk associated with economic factors are always a concern for making the investment decision (Askarany et al. 2012). In this context, it is observed that two projects are not of same type therefore, macroeconomic risks associated with those are not same. Further, business risk is a main factor in assessing the projects investment decision so that company might be able to make decision on investment. Strategically it may be said that company might select the project B as it provides the company to invest more money providing more utility of unused investment fund whereas in project A, the total sum of investment is low thereby; it cannot fully utilized the investment fund (companies-house.gov.uk, 2015). Financial analysis Analysis of financial statements As per the variance analysis between two financial year data of the NML group which is certain growth in the revenue turnover of the company is around 3.45% and because of the huge number of dividends proposed by the company retained earnings on the company is showing negative figures in the statement of variance analysis of the company. The company is able is acquired 0.71% net assets increment in the financial year 2014 whereas the reserve of the company is showing growth of the 1.10% in the year 2014 respectively. According to the overall variance analysis of the company the company is showing stable situation which is in growth than the financial year 2013. Financial ratio analysis of NML According to the ratio analysis of the company NML is measured to understand the actual position of the organization in the market. The current ratio of the company is mainly depends on the measurement of the earning capacity of the company which is 1.707 and 1.709 in the year 2014 and 2013. The gross profit margin of the company is also shows the percentage of the 30% and 28.44% in the year 2014 and 2013 and also the net profit margin of the NML group is 22% and 20.87% respectively. The inventory turnover of the company NML is showing ratio of the 2.5 and the 2.9 in the financial year 2014 and 2013. The return on equity ratio which is coming 0.33 and 0.30 which is company gaining from the investment of the owned capital in the companys operational activities. Recommendations on strategic portfolio of NML As per the financial details provided by the company in a particular financial year which is 2013 and 2014; It is showing that company is more focusing in the proposing dividends for the company which is good for the portfolio of the company in front of the investors who are willing to invest their money in the shares of the company because of the higher dividend earnings ratio. The company NML group is not able to retained the earnings for the financial year 2014 but company will be grow in the coming financial because of the huge investment finance from the investors who attracts because of the proposed dividend of the company. Reference lists Books Berry A and Jarvis R Accounting in a Business Context, (2005) (Cengage Learning EMEA) ISBN 1844802515 Drury C Management Accounting for Business, (2009) (Cengage Learning EMEA) ISBN 1408017717 Glynn J, Perrin J, Murphy M and Abraham A (2003) Accounting for Managers, 3rd Edition (Thomson Learning) ISBN 186152904X Harris R and Sollis R (2003) Applied Time Series Modelling and Forecasting (John Wiley and Sons) ISBN 0470844434 White G I, Sondhi A C and Fried D (2003) The Analysis and Use of Financial Statements, 3rd Edition (John Wiley and Sons) ISBN 0471375942 Journals de Jong, M., van Beek, I. and Posthumus, R. (2013). Introducing accountable budgeting.OECD Journal on Budgeting, 12(3), pp.1-34. Lin, W. (2012). Financial performance and customer service: An examination using activity-based costing of 38 international airlines.Journal of Air Transport Management, 19, pp.13-15. Burger, P. and Hawkesworth, I. (2013). Capital budgeting and procurement practices.OECD Journal on Budgeting, 13(1), pp.57-104. Askarany, D., Brierley, J. and Yazdifar, H. (2012). The effect of innovation characteristics on activity-based costing adoption.International Journal of Managerial and Financial Accounting, 4(3), p.291. Websites aat.co.uk, (2015). Available from: https://www.aat.co.uk [Accessed on: 11 Apr. 2015]. Bized.co.uk, (2015).Business studies teaching and education resources: Biz/ed. Available from: https://www.bized.co.uk [Accessed on: 11 Apr. 2015]. cipfa.org.uk, (2015). Available from: https://www.cipfa.org.uk [Accessed on: 11 Apr. 2015]. companies-house.gov.uk, (2015). Available from: https://www.companies-house.gov.uk [Accessed on: 11 Apr. 2015].

To An Athele Dying Young Essays - To An Athlete Dying Young

To An Athele Dying Young To an Athlete Dying Young by A. E. Housman is a piece about one of the most tragic fates. That fate, of course, is dying at a young age. The first thing that must be determined is who is telling the poem. I believe it is an older man, one who had been a champion of sorts in his younger days. He seems to know and understand what the athlete had felt and what would have become of him. Lines eleven and twelve are good examples that show that the speaker has had some experience with success. The lines read, "And early though the laurel grows It withers quicker than a rose." To comprehend this, you must first know what a laurel is. In ancient times, it was a type of decorative wreath made for distinguished and honored people. The athlete never actually had one of these, as the word laurel is only used to convey how proud the townspeople were of the young athlete. Now that we know what a laurel is, we can now understand the full effect of lines eleven and twelve. The speaker is perhaps saying that the glory and praise of being a winner will fade very quickly, as it did with him. Through the speaker's thoughts, you start to get a glimpse of what his life may have been since his youth: his own records broken, his skills diminished, his name forgotten. Instead of being a poem about the death of the athlete, the poem becomes a statement about the life of the speaker. In line eighteen, as one of"the lads who wore their honors out," the speaker seems to be also mourning his own personal demise as a star athlete. Now that we have postulated who the speaker is and all of his thoughts, we can now determine where the poem is occurring. I believe it is taking place at a funeral or some sort of funeral procession. The speaker seems to be observing the deceased athlete, so he must be on display in some manner. Also, the poem is about an athlete in a small town. The entire community is stricken with grief and is mourning the loss together. This is evident in lines five and six: "Today, the road all runners come, Shoulder-high we bring you home..." Line five shows us that everyone is coming to the funeral, even his competitors and the other runners. Also, the use of "we" is a signal of the entire community gathering to honor the young lad. They were together in celebration of his victory and now are together in mourning his death. The tone of To an Athlete Dying Young is definitely one that many will remember after reading it. The first stanza tells about the past accomplishments and celebrations of the athlete. "The time you won your town the race" shows his success in the past. The tone starts out to be one of pride for the athlete, but soon it changes to a very melancholy and solemn one. The next three stanzas are very depressing and tell of a young man who's "Eyes the shady night has shut." The final stanzas are perhaps the most dreary of all. They look to the future, a future of things undone, a life unlived, and a young man dead too soon. The tone of the story is very poignant and one that cannot easily be shaken from memory. The tone may be a very depressing one, but the theme is even more piercing. The theme of To an Athlete Dying Young is not apparent after one reading. I gave it much thought and have come to one eerie conclusion; the speaker is viewing the premature death in a positive light. To most, that is a terrible or even sinful thing to contemplate, but it is indeed what the speaker is conveying. The theme of this poem is that it is better to die as a young champion than to grow old and be forgotten by all those who surpass your one-time greatness. He calls the dead athlete a "smart lad" for dying as a champion and not remaining in the "fields where glory does not stay." He then compares early death to growing old and being forgotten in the lines "And silence sounds no worse than cheers After earth has stopped the ears." That is a very powerful statement. The speaker honestly believes that it is just as well to die young