Policy Analysis 2 CLIMATE CHANGE POLICIES By (Name) Course Tutor Name of

2. Marginal analysis and profit maximization Suppose Karen gives haircuts on Saturdays to make extra

Question: 2. Marginal analysis and profit maximization Suppose Karen gives haircuts on Saturdays to make extra money. She is the only person in town cutting hair on Saturdays and therefore has some market power. Assume that she does not incur fixed costs, and the only significant variable cost to Karen is her time. As she gives more haircuts, Karen must increasinglySee the answerSee the answerSee the answer done loading2. Marginal analysis and profit maximization
Suppose Karen gives haircuts on Saturdays to make extra money. She is the only person in town cutting hair on Saturdays and therefore has some market power. Assume that she does not incur fixed costs, and the only significant variable cost to Karen is her time. As she gives more haircuts, Karen must increasingly forgo other valuable Saturday activities. For example, if she gives one haircut, she forgoes reading the paper after breakfast. If she gives two haircuts, she gives up reading the paper and sleeping an extra half-hour.
Karen’s clients are a varied group willing to pay between $16.00 and $28.00 for a haircut. Assume that Karen cannot price discriminate, i.e., charge different clients different prices. If Karen charges $28.00 per haircut, she will have one client per week; if she charges $24.00, she will have two; if she charges $20.00, three, and so forth. The following table contains data on the revenues and costs of Karen’s haircut business as a function of her price–quantity choice. (The costs are based on the value of Karen’s alternative activities, in dollar terms. For example, the total cost of the first haircut is $4—the value Karen places on reading the newspaper after breakfast.)
Fill in the missing cells of the table and then use them to answer the questions that follow.
Output
Price
Total Revenue
Marginal Revenue
Total Cost
Marginal Cost
Profit
(Haircuts per week)
(Dollars per haircut)
(Dollars per week)
(Dollars per haircut)
(Dollars per week)
(Dollars per haircut)
(Dollars per week)
0 0 0 0 28.00 4.00 1 28.00 28.00 4.00 24.00 20.00 8.00 2 24.00 48.00 12.00 36.00 12.00 8.00 3 20.00 60.00 20.00 40.00

4 18.00
36.00
8.00 20.00 5 16.00 80.00 56.00 24.00 On the following graph, use the blue points (circle symbol) to plot Karen’s total revenue curve, use the orange points (square symbol) to plot her total cost curve, and use the purple points (diamond symbol) to plot her profit curve. Be sure to graph from left to right, starting with zero haircuts and ending with five. Line segments will automatically connect the points.
Total RevenueTotal CostProfit01234580644832160TOTAL REVENUE, TOTAL COST, AND PROFIT (Dollars per week)QUANTITY OF OUTPUT (Haircuts per week)5, 24
On the following graph, use the blue points (circle symbol) to plot her marginal revenue (MR) curve, and then use the orange points (square symbol) to plot Karen’s marginal cost (MC) curve for the first five haircuts. Be sure to plot from left to right and to plot between integers. For example, if Karen’s marginal cost of increasing her production from one haircut to two haircuts is x, then you would plot a point at (1.5, x). Line segments will automatically connect the points.
Marginal RevenueMarginal Cost012345302520151050PRICE AND COST (Dollars per haircut)QUANTITY OF OUTPUT (Haircuts per week)5, 20
Karen maximizes her profit by servingthree clients per week and charging$24.00 per haircut.
If Karen gave more haircuts than her optimal quantity of haircuts, which of the following statements would be true? Check all that apply.
Karen’s profit (total revenue minus total cost) would decline.
Karen’s marginal revenue would be less than her marginal cost.
100% (1 rating)Answer Q P TR= (P)(Q) MR= Change in TR TC MC= Change in TC Profit= TR-TC 0 – 0 – 0 – 0 1 28 28 28 4 4 24 2 24 48 20 12 8 36 3 20 60 12 20 8 40 4 18 72 12 36 16 36 5 6 8…View the full answer

Tutorial 1 Introductory Issues 1.Pressures creating adverse selection problems in ebay motors

Policy Analysis 2 CLIMATE CHANGE POLICIES By (Name) Course Tutor Name of Writing Assignment Help Tutorial 1 Introductory Issues

1.Pressures creating adverse selection problems in ebay motors case?

Note that many of the cases considering adverse selection feature used goods markets but it is still a widely spread phenomenon. The author starts from the position that given the well known problems of AS it is surprising on line auctions have grown so well.

Potential problem in ebay is that buyer does not see good in person, let alone the issue related to quality not known until the good is experienced.

So Lewis investigates how far sellers to disclose private information and whether it is selective dispersal of information (i.e. perhaps when you sell a car you admit faults in the car because it gives impression you are an honest trader)

Lewis believes where there are conduits to release private information, screenshots of service history, photos, AS will be limited.

But he shows must be avenues to release the information and the information must be credible

Because ebay could punish misrepresentation there is a motive to share all information.

However, there are still issues here regarding issue that buyers may only share selected information and in text and photos you cannot get all the information you really want about the car.

Students need to think about wider applications of the AS problem and then how it might lead to creation of firms as opposed to markets to get around potentially hazardous trades.

2. Obamacare and Hurricane Katrina; problems with the state effort to correct problems?

Obamacare:

Note the problem: difficulties of gaining health insurance with pre-existing conditions; if private health insurers charge one rate it is very attractive for those with pre-existing conditions. Note also the private information problem facing the insurers.

If there are incentives for sicker people to seek insurance, rates go up, healthier people leave the ‘pool’, and the pool gets ‘sicker’ forcing rates even higher.

So state intervention in the Obamacare case forces all to join, which levels out risks in the pool.

Katrina:

Issue regards how hurricane victims spend government support.

Issue relating to how far safety nets supported by the state might also result in more risky behaviour, particularly with respect to the banks after the credit crunch

The article provides some useful examples of moral hazard i.e. do higher worker compensation packages for injuries make them more careless in the workplace?

Students need to consider how far the insurance industry can get around moral hazard problems (NCB, excesses)

But how far can we stop risky behaviour in the banks.

Lastly, think about wider applications of the MH problem in respect of markets versus hierarchies.

Parker and Hartley Paper

Note there is a good review of the economics of contracting on pp99-100 which you might find useful. The purpose of this case is to illustrate the problem of hazardous market exchange.

Students need to consider how incentives are (or are not) aligned in the case.

3. Rationale for public-private sector partnerships. Please see p98 of article

These partnerships might be explained in terms of harnessing incentives of private markets to capture public benefits, particularly in running infrastructure projects.

The operation of such PPPs can provide a useful case study of the problems that arise in transactions, and types of costs that can occur.

PPP can be a substitute for state investment, state may pay a fee, so reduces pressure on the budget.

PPP implies that the state and private sector might work together on a public value project

Private finance initiative is one type of PPP where public sector body contracts with a private sector consortium. The consortium provides the PFI. It is owned by a number of private sector investors, usually in road projects including a construction company and a service provider, and often a bank as well. Consortium monies are used to build the facility and to undertake maintenance and capital replacement during the life-cycle of the contract. During the period of the contract the consortium will provide certain services, which were previously provided by the public sector. The consortium is paid for the work over the course of the contract.

Part of the rationale here is that private enterprise can run things at lower cost

Also PPPs allow enforceable contracts, with proper cost efficiency, because the private sector has an incentive to keep the costs down.

4. How does small numbers lead to hold up.

see p.99, col 2 last para

In a small numbers problem ex ante competition becomes ex post renegotiation with fewer market reference points.

See the interesting case of the Channel Tunnel Rail Link and the attitude of Railtrack; basically the company almost holding the government to hostage, and with the government being unable to find an alternative contractor without high costs.

5. Parker and Harvey suggest market transactions costs considerations do not provide a road map for PPPs and general government procurement policy. Transactions cost issues are important but so are issues surrounding the flexibility that such arrangements might confer on government for example.

See page 100 col 1 para 2 on this

6. Why does the UK defence sector case reveal that PPPs involve significant transactions costs?

A number of factors discussed in Parker and Hartley suggest there could be such costs:

Uncertainty on the supply side and potential speedy obsolescence of technology. Uncertainty on demand side, for example, how much of a good or service will be needed in peace, crises and war, and then how do you develop a contract which deals with different states that might occur. So developing complete contracts might be difficult.

There would seem to be in the Parker and Hartley paper a real problem of changing requirements on long projects and a changing strategic environment i.e. do we need aircraft carriers anymore? This means contracts may have to be renegotiated, and the incumbent contractor might be in a strong negotiation position.

High sunk costs that have to be committed by companies supplying services in some cases.

So in PPP in the case of defence, one needs to set economic efficiency against transactions costs problems which might be avoided were state to run the whole thing.

Excerpt NAO Report

Ministry of Defence: Delivering multi-role tanker aircraft capability

Published

March 30, 2010

Full report

Ministry of Defence: Delivering multi-role tanker aircraft capability

The National Audit Office has been unable to conclude that the Ministry of Defence has achieved value for money from the procurement phase of its £10.5 billion private finance deal for the Future Strategic Tanker Aircraft (FSTA), according to a report released today.

Despite managing the later stages of the procurement well, the MOD’s ability to get the best deal it could was undermined by shortcomings in the way it conducted the procurement and assessed alternative options. Although the project to provide air-to-air refuelling and military transport aircraft has achieved its delivery milestones since contract signature, it is still likely to be delivered five and a half years later than planned.

The MOD began the planning process with the assumption that the FSTA project would be delivered using a private finance deal, and therefore “off-balance sheet”. This assumption was driven by affordability pressures and the prevailing policy to use PFI wherever possible. The selection of a PFI option was made without a sound evaluation of alternative procurement routes to justify why the PFI route offered the best value for money.

The original requirement for FSTA did not envisage the aircraft flying into high threat environments such as Afghanistan. When the need for possible additional aircraft protection measures arose, the Department sensibly did not alter its requirement for fear of prejudicing ongoing commercial negotiations. Having established that these modifications are likely to cost several hundred million pounds, the MOD is considering the costs and technical requirements. Even if MOD were to choose to go ahead with the relevant modifications, they would not be available for a number of years.

The MOD will pay on average £390 million per annum for the core FSTA service, which includes use of the aircraft and related services and infrastructure. However, the MOD also has responsibilities to support the effective delivery of the service and ensure that it obtains value for money from the contract. Any significant delay to the planned redevelopment of the main operating base at RAF Brize Norton, scheduled for shortly after FSTA’s entry into service, would affect the smooth operation of the service.

Given the delay to FSTA, the MOD is being forced to rely on ageing and increasingly unreliable Tristar and VC10 aircraft to provide air-to-air refuelling and air transport to Afghanistan. While the MOD has been successful in fulfilling these priority roles, flying hours across both fleets have reduced by 21 per cent since 2002-03. To assist in delivering its air transport requirements the MOD also charters passenger aircraft, at a cost of approximately £175 million between 2006-07 and 2008-09.

Tutorial 2 Outline Notes Weir and Lang paper 1.What are the authors

Tutorial 2 Outline Notes

Weir and Lang paper

1.What are the authors seeking to test?

The focus of the paper is linkages between the structure of the board of directors, ownership structure of the firm, and the probability that firms will be taken over. Context is agency issues arising from a separation of ownership from control in modern firms. To this is added problems created where boards do not necessarily work for shareholder value when a takeover bid comes along.

In summary their analysis shows that the probability of takeover increases where there are higher levels of institutional shareholdings, higher director shareholdings, and a higher proportion of non-executive directors on the board. This might indicate that firms with these characteristics might be more focused on shareholder value. I do not want students to go into details on the many results reported in this paper, but rather students need to reflect here on the many factors at a firm level which might either work to increase or decrease the agency problem, and factors that might represent effective monitoring of boards.

The main hypotheses tested in the paper are:

Where personal financial gains are important to exec directors then they are more likely to accept a takeover bid because they will gain as well as ordinary shareholders. This is termed the financial incentive hypothesis.

As externally owned shareholdings increase, as board independence increases, where chairman and chief exec are not the same, and where there are larger numbers of non-exec directors, this all might mean a higher probability that bids that increase shareholder value are not rejected i.e. directors act in shareholder interests not their own. This is termed the monitoring hypothesis.

2. What does their analysis suggest have been the impacts of the Cadbury report on the market for corporate control in the UK?

The Cadbury 1992 Report “The Committee on the Financial Aspects of Corporate Governance” chaired by Adrian Cadbury developed recommendations on the arrangement of company boards and accounting systems to mitigate corporate governance risks and failures. Much of this was a response to high profile failures of corporate governance in the 1980s including the Robert Maxwell affair that students are welcome to look up on Google for more details. The publication of the Cadbury report and recommended code of best practice should have improved disclosures by boards of directors, and encouraged behaviour in shareholder best interests.

Post Cadbury and the code of best practice one would expect to see improved standards of governance. The conclusions to the paper actually question whether the recommendations made by the Cadbury report are fully justified. For example the Cadbury report questioned whether the role of chief exec and chairman should be rolled into one, but Weir and Lang suggest this could actually be appropriate governance in some circumstances.

3. In the paper what are the key factors affecting probability of acquisition and what are the policy implications arising?

The paper shows, among other things, that the probability of takeover increases where there are higher levels of institutional shareholdings, higher director shareholdings, and higher proportion of non-executive directors on the board. In terms of public policy and codes of best practice the main issue that arises is the need to be careful; for example, well- meaning policy and codes of best practice to improve transparency and corporate governance processes might actually encourage practices that are not in the best interests of shareholders – see the debate on duality in the paper on p1758 col 1 para 3.

Jensen paper (and see slide set for Tutorial 2)

4. What is free cash flow and what determines its scale?

Students need to read the whole of this article as the arguments relate directly to those made in the lecture programme on the efficiency of different monitoring mechanisms.

Free cash flow is that in excess of the monies needed to fund corporate projects with positive NPVs at the firm’s cost of capital. ‘Ideally’ these funds should go back to shareholders because if they are invested in projects at below the relevant cost of capital then shareholders lose out, because they can do better with the money than the firm can. Problem is that managers may have an incentive to keep these monies in the firm to encourage growth and increase their power, or use money in other inefficient ways.

It is likely that the scale of the problem is partly down to shareholders not being able to monitor managers effectively; poor manager behaviour not reflected in share prices.

5. Why might debt in the capital structure increase efficiency and reduce agency problems?

Jensen argues that managers retaining free cash flows can promise to increase future dividends to shareholders, but that these promises might be weak. Jensen argues that managers can lock themselves into their promises to pay out future cash flows. By issuing debt to buy up stock managers bond a promise to pay out future cash flows in a way that is not possible with future dividend payouts. In this way shareholder recipients of the debt have the right to take firms to court if they do not meet commitments to pay interest and capital sums back. Therefore debt works to decrease the free cash flow problem by reducing the cash flows that are available for spending at discretion of managers.

Moreover, the severe circumstances involved in not paying back debt means that the need to meet debt interest payments works to motivate managers to behave in ways to maximise firm value.

Jensen suggests that issuing debt is not always relevant to all firms but most relevant to organisations that generate free cash flows but with low growth prospects.

6. How might free cash flow be connected to takeover activity?

Jensen argues that the stock markets responded positively to situations where firms in the oil industry created debt and that this might have been viewed as showing that such firms were not wasting resources on projects yielding low returns.

Jensen argues that managers in firms with unused borrowing power and large free cash flows could get involved in takeover activity that decreases shareholder value. Takeovers are one way managers might spend money rather than return it to shareholders. Perhaps takeovers that create low returns are more likely where acquiring firms have free cash flows, but where exit would have been a better strategy. Where managers in this situation choose to diversify into new sectors this could be a poor strategy to improve shareholder value. On the contrary where acquiring firms with free cash flow seek mergers in the same industry there is at least some prospect of shareholder value because the merged entity might gain cost efficiencies etc and result in some restructuring and rationalisation. Jensen gives examples to illustrate on p328 of the article.

Please see pp328-329 of the article.

Market Failure Analysis 11 Market Failure Analysis Name: Course: Instructor: Date: Introduction

Market Failure Analysis 11

Market Failure Analysis

Name:

Course:

Instructor:

Date:

Introduction

Sinn (2007) defines market failure as an economic situation in the free market that is characterized by an inefficient distribution of services and goods which is a state of disequilibrium where the quantity supplied doesn’t match the market demand. A market failure takes place when the individuals in a group end up in a worse situation in comparison to the situation prior to acting in a self-interest manner that is rational. In such instances, the group incurs numerous costs or realizes very few benefits from their self-interest decisions (Sinn, 2007). According to Brezis and Wiist (2017), Junk food is a typical example of market failure since the consumers of junk food always purchase junk in a self-interest manner that seeks to minimize food costs, minimize on time in preparing food and maximize on energy due to the huge amounts of junk food. However, the costs of junk food tend to have higher costs on the general public as they have to deal with higher costs. These higher costs are in the form of increased healthcare insurance costs, reduced productivity as a result of illness and reduced profitability for public utilities such as transport and entertainment joints since providers have to incur extra costs in catering for obese people. Junk food results in higher costs for the general public and the government and international organizations are actively engaged in solving the issue (Brezia and Wiis, 2017). The objective of this research paper is to identify the role of the government and international organizations in overcoming junk food as a market failure case study. In this research essay, the researcher will highlight the different ways through which international organizations and the government can overcome this market failure.

Junk Food Market Failure Analysis

One of the proposals put forward by Mytton, Clarke and Rayner in addressing the externalities from junk food is increasing taxation on junk food. By increasing taxation on junk food, the price of junk food is bound to rise thus eliminate the incentive to consume junk food. This is because one of the main incentives that have contributed towards massive consumption of junk foods is its cheap price while the price of organic food is very expensive (Mytton, Clarke and Rayner, 2011). However, public opinion from international health organizations such as the World Health Organization states that increments in price as a result of taxation would not be sufficient in deterring the consumption of junk food. This is due to the high level of addiction attributed to junk foods as a result of food components such as caffeine making junk food to have an inelastic demand as consumers will stretch their budgets to accommodate the price change. Similarly, consumers might look for other ways to evade the junk food tax through black markets or prepare the food at home (Franck, Grandi and Eisenberg, 2013). However, imposing the tax on saturated fat will be effective in controlling the consumption of junk food since the government will make consumers to bear the burden for their consumption choices. This is because the tax realized from saturated fats would be included in the healthcare budget hence minimizing the escalating cost of healthcare insurance. Revenue gained from this taxation could also be channeled towards programs aimed at advising consumers on the need to practice healthy consumption (Franck, Grandi and Eisenberg, 2013). If the revenue is collected by the state and uniformly implemented by the state, allocation to numerous programs would similarly be easier. International organizations could also contribute towards these programs by partnering with the national government in rolling out these classes such as healthy eating competitions and healthy eating units at school. This is because children and more specifically school going ones make the most irrational decisions during consumption due to lack of information about the effects of unhealthy consumption (Griffith and O’Connell, 2010). On the other hand, the tax is less effective in handling other issues related to junk foods such as reduced productivity in the workplace and increased costs in public utilities. In addition, it is impossible to monetize the effects of junk food on the economy which makes it rather difficult to determine the mechanisms of taxing junk foods. This is because levels of toxicity differ in the various junk foods and taxation is supposed to adhere to the characteristics of prudence, objectivity and relevance among others (Griffith and O’Connell, 2010).

Wilde (2009) argues that it is impossible to minimize the consumption of junk by penalizing junk food consumers through additional taxation and ignoring the consumers of organic foods. This is because organic food consumers will lack the incentive to eat non-junk foods over the course of time. It is therefore prudent for organic food consumers to be rewarded for consuming organic foods through reduced pricing (Wilde, 2009). By reducing the price of organic food, junk food consumers will also get the incentive to eat healthy foods. Organic foods pricing can be reduced in numerous ways among them reducing or eliminating taxation on organic foods, establishing price ceilings for organic foods in the market, elimination of tariffs on organic food imports and provision of farming subsidies to farmers. The adoption of any or all of the above listed factors will go along in reducing the cost of organic foods in the market based on the cost of production except the implementation of price ceilings. This is because price ceilings are bound to push traders out of the market resulting in hoarding or black-markets in the sale of organic foods (Powell and Chaloupka, 2009). International lobby groups can address the junk food as a market failure by lobbying for the reduction of taxation and import tariffs on organic foods as well as the provision of government subsidies. On the other hand, the government should pass regulations that support the above listed recommendations. It should however be noted that the reduction or elimination of taxes and tariffs will affect the price and profitability of organic foods in the market due to intensive competition due to ease of market entry. Similarly, the reduction in import tariffs will kill the local industry as cheaper organic food will be imported in abundance and sold cheaply rendering most farmers jobless (Finkelstein et al., 2004).

Junk food as a market failure is partially attributed to lack of information by a section of consumers on the nutritive content in their food as well the long-term effects of the food components consumed on their health. In order to protect their brands in the market, organizations are unwilling to inform the consumers about the effects of consuming junk food since there are no laws that require them to do so. Similarly, legislators are unwilling to lobby for such laws for fear of backlash from the corporates and the general public. Informing the consumers on the risks of consuming junk foods through the packaging just like in cigarettes and alcohol drinks would play a very significant role in reducing the consumption of junk foods. This is because the consumers will be aware of the nutritive content of junk foods as well as potential risks exposed to from consuming junk foods (Niebylski et al., 2015). In order to informing the public on the consequences of junk food consumption, international organizations such as lobby groups should lobby for regulations that require junk foods have sufficient information in the packaging. This information should be in the form of nutritive food content as well as the side effects of consuming the food from the different nutritive components. Lobbying for implementing a Ban on advertisements that promote junk foods is also another measure to reduce the consumption of junk foods. The government can also contribute towards empowering the public on the consequences of junk food consumption by implementing strict regulations about information on junk foods packaging. Although the move would be effective in minimizing the consumption of junk foods, the price of junk foods in the market would significantly reduce which would serve as an incentive in promoting the consumption of junk foods. This is because low income households would find it affordable and more people will get addicted to junk foods (Finkelstein et al., 2004).

Swinburn (2008) argues that the government should also advocate for the introduction of specially designed healthy food substances with unhealthy food products as a way of addressing the issue of junk food externalities. The specially designed healthy food substances such as low calorie sweeteners and high fiber bread will be aimed at minimizing salt and calorie intake. The high fiber bread as a food alternative should be cheap and take longer to digest hence making the consumer feel full for a much longer period. The provision of specially designed healthy food combinations will also go forward in catering for the needs of low income households and the products can be continually improved to increase its utility towards the consumer’s health. The role of the government in facilitating the realization of specially designed healthy food substances is through sponsoring research on low cost alternative food substances. International organization’s role in promoting the reduction of junk foods through specially designed healthy foods will be through sensitizing the public on the significance of consuming healthy food substances as opposed to junk food (Swinburn, 2008). The primary issue emanating from the introduction of specially designed healthy foods is the opportunity cost of production and the question of consumer tastes and preferences. This is because it may take more costs to produce the specially designed healthy foods in terms of resources as compared to junk foods. Similarly, no one can be compelled to consume the specially designed healthy foods in a free market as people consume based on their respective tastes and preferences. As a result, the product might fail to be a success in the market resulting in more sunken costs in the commodity. This is because according to research consumers pay very little information to nutritional labels as they value convenience, brand, taste and trends when making purchase under tight timelines hence little time to check on labels (Finkelstein, 2004).

According to Shill et al (2012), the implementation of regulatory changes that are aimed at preventing people vulnerable to junk food is also a solution to junk food externalities. Vulnerable people in these case are the no-income and low-income households from unhealthy food choices should be put into place. This is because based on their income status and the cheap cost of junk foods these households are bound to have preference for junk food due to its cheap and convenience nature. In places like the US where low income families are issued with subsidized foods in the form of food stamps, a two-tier system should be adopted. The two-tier system would put limits to the amount of junk foods purchased by the vulnerable while the less vulnerable have less limits on the amount of junk they can purchase. Similarly, regulations should be put in place to prevent campuses and high school cafeterias from selling students and children junk foods. This is because it is at this stage that their purchases decisions are impulsive and irrational resulting in the consumption of junks (Shill et al., 2012). However, the implementation of these regulations to protect the vulnerable is likely to attract a backlash from the general public and human rights groups on the basis of discrimination and the elimination of citizens’ freedom of choice of their basis of their economic status. This is because an individual’s rights and freedom should be paramount no matter the situation the individual is in. However, international lobby groups together with the government can enforce this regulation by sensitizing the masses on the need to adopt the regulation. The government can also incorporate the citizens in the regulation through a public vote system with the externalities of the benefits such as reduced healthcare costs, increased productivity, longer lives and healthy living clearly explained. Citizen incorporation serves as a means of promoting transparency, accountability and equity in the decision making process. Sufficient information should go along in changing the people’s perception about the regulation and a change of mind from rejection to embracement (Finkelstein et al., 2004).

According to Herring (2015), lack of social responsibility enforcement from firms in the food and beverage industry is the one of the underlying factors responsible for the market failure in junk foods market failure. Due to the role these industries play in the economy, the governments are afraid to bring them to book and instead massage effects of junk food majorly obesity with the notion that it is attributed to lack of adequate physical activity yet science is clear that the primary driver behind obesity and poor health is diet. As a social entities, firms in food and beverage industries are supposed to be cautious about the welfare of its consumers hence be socially responsible. In the event that the firms become socially irresponsible, they are expected to be more conscious of their customers’ welfare and produce food with more nutritive content and less harmful elements. In order to cover for their social injustices to their customers, firms in the food and beverage are involved in corporate social responsibility activities such as charity and sponsorships which are nowhere closer to the harm caused. In order to solve the externalities attributed to junk foods from a social responsibility perspective, the government should enforce laws that require firms in the food and beverage industry to be socially responsibility towards its consumers. However, since these laws are non-existent, international lobby groups should be in the forefront in advocating for the implementation of laws that safe guard consumer’s interests (Herring, 2015). However, the implementation of these laws is tied down by the benefits realized from these firms in the form of employment to citizens, revenue to the government through taxation and economic growth to the society. This is because the implementation of these laws would require that firms’ productivity be reduced or be phased out of the market (Finkelstein, 2004).

Conclusion

While several solutions have been raised from government and international organizations perspective in addressing junk foods market failure, it has been realized that there is no prefect solution to the issue. This is because examples of solutions raised such as taxation and regulations surrounded by numerous other issues that are bound to affect the application of the solution. The implementation of taxation for instance as a solution to junk food market failure has been found to violate the process of taxation and as a result rendered unfeasible. The implementation of legal regulations on the other hand have been found to cause ethical dilemmas, threaten the economy in one way or the other and violate other legal frameworks. This implies that in order to address the externalities associated with junk food, the government should be ready to affect several parties along the line as a result of the ripple effects from political, economic or social perspectives. This is because integrated relationship between the various aspects in the economy present challenges in the implementation of the solution.

Reference List

Brezis, M. and Wiist, W.H., 2011. Vulnerability of health to market forces. Medical care, pp.232-239.

Finkelstein, E., French, S., Variyam, J.N. and Haines, P.S., 2004. Pros and cons of proposed interventions to promote healthy eating. American journal of preventive medicine, 27(3), pp.163-171.

Franck, C., Grandi, S.M. and Eisenberg, M.J., 2013. Taxing junk food to counter obesity. American journal of public health, 103(11), pp.1949-1953.

Griffith, R. and O’Connell, M., 2010. Public policy towards food consumption. Fiscal Studies, 31(4), pp.481-507.

Herring, R.J., 2015. How is food political? Market, state, and knowledge. The Oxford Handbook of Food, Politics, and Society, pp.1-28.

Mytton, O.T., Clarke, D. and Rayner, M., 2012. Taxing unhealthy food and drinks to improve health. Bmj, 344, p.e2931.

Niebylski, M.L., Redburn, K.A., Duhaney, T. and Campbell, N.R., 2015. Healthy food subsidies and unhealthy food taxation: A systematic review of the evidence. Nutrition, 31(6), pp.787-795.

Powell, L.M. and Chaloupka, F.J., 2009. Food prices and obesity: evidence and policy implications for taxes and subsidies. The Milbank Quarterly, 87(1), pp.229-257.

Shill, J., Mavoa, H., Allender, S., Lawrence, M., Sacks, G., Peeters, A., Crammond, B. and Swinburn, B., 2012. Government regulation to promote healthy food environments–a view from inside state governments. Obesity reviews, 13(2), pp.162-173.

Sinn, H.W., 2007. The selection principle and market failure in systems competition. Journal of Public Economics, 66(2), pp.247-274.

Swinburn, B.A., 2008. Obesity prevention: the role of policies, laws and regulations. Australia and New Zealand health policy, 5(1), p.12.

Wilde, P., 2009. Self-regulation and the response to concerns about food and beverage marketing to children in the United States. Nutrition reviews, 67(3), pp.155-166.

CREATIVITY AND DANGEROUS IDEAS 5 Running head: CREATIVITY AND DANGEROUS IDEAS 1

CREATIVITY AND DANGEROUS IDEAS 5

Running head: CREATIVITY AND DANGEROUS IDEAS 1

Should all drugs be legalized?

Student

Institution

Should all drugs be legalized?

The issue of drug legalization is a controversial issue that demonstrates its wicked challenge in the nation. The issue is a dangerous idea since it interrupts the morality and ethics of the community. Due to its complexity, the policymakers in the US have defined the issue as a legal challenge rather than a public health problem. While others have supported drug legalization, opponents point on the adverse impacts of drugs on the community.

The drug legalization challenges several ideas and norms. Legalizing drugs means that the society and the nation have given up to the problem. In essence, people must fight the challenges that they face in life which seem to affect their health or the economy adversely. The struggle must be consistent so that the individual cannot surrender to the problem. Therefore, accepting the legalization of the drugs will mean that people have surrendered fighting vices in society (Wiesing, 2011). The government must not surrender on the fight against drugs by legalizing it. Countries across the world have invested heavily in education and fighting addiction and should go on without giving in. In a nutshell, it does not mean that the policymaker should give because they have completely solved the problem; therefore, they should continue fighting.

Furthermore, the dangerous idea of drug legalization will upsurge the number of casual users. The increase of the active users will consequently lead to an increase in drug abusers. The society and the government, in general, do not find drug abusers beneficial to the economy. The issues will, therefore, affect the economy and goes against the social norms. The society believes in hard working and people who follow the virtues. However, when the legalization takes root in the society, individuals will not work leading to a lazy society that may result in poverty. Legalization of drugs, therefore, goes against the norms of hard work which is dangerous to the economy.

Furthermore, drug legalization will lead to health complications and low production. The issue may damage not only the individuals but also the economy of the country. Drug abuse put the abusers on the risk of contracting some diseases. Some common health complication linked to drug abuse includes lung complications, heart disease, cancer, and mental diseases. Also, drug abuse may lead to stroke, HIV and diabetes (Meier, 2016). Drugs seem to adversely affect the health of the individuals that may affect the economy of the country. Sick nation means that they are not work in the farm or industries; hence it will reduce the productivity thus deteriorating the economy.

The dangerous idea means that people will find the issues of health, low productivity and drug abuse as challenging. Individuals claim that legalization of the drugs will affect their health and decrease the number of people working in the farms and industries. The impacts of drug legalization will also lead to drug abuse that will cost the economy. Individuals fear the abuse since the families will have to take care of the person who has abused drugs hence skyrocketing the cost to the family.

On the other, drug legalization may yield some benefits. Drug legalization may potentially reduce the cost spend by the government to fight drugs. The government has always fought for the prohibition of drugs by investing in police and courts. The cost of fighting drugs has lessened the economy of the country since the country lost much money fighting for drug legalization of which it has never succeeded (Wiesing, 2011). It is now the time to give on drugs and legalize so that the government may use funds that could have been used to fight drug consumption in more critical sectors. More so, the government will benefit from the taxation hence increasing the revenue. Another possible benefit of drug legalization is to give up on the criminal prohibition that has never been in a possible to win. The efforts of fighting drug illegalization have not eradicated or significantly lessen drug consumption.

In conclusion, the dangerous idea of drug legalization has brought many controversies since some may support the idea while others may reject. The issue seems to adversely impact on the moral and the ideas of the society since it possesses health complication and goes against hardworking norms of the society.

References

Meier, K. J. (2016). The Politics of Sin: Drugs, Alcohol, and Public Policy: Drugs, Alcohol and Public Policy. Routledge.

Wiesing, U. (2011). Should performance-enhancing drugs in sport be legalized under medical supervision?. Sports medicine, 41(2), 167-176.

The effectiveness of the Transactions Costs Theory 1 THE EFFECTIVENESS OF THE

The effectiveness of the Transactions Costs Theory 1

THE EFFECTIVENESS OF THE TRANSACTIONS COSTS THEORY

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Introduction

Transaction cost theory is a part of the corporate agency and governance theory that operates under the common principle that costs will generally arise when you get the services of another individual to carry out some business for you, like having directors running an entity that you own. It is considered an alternative variant of the agency understanding of management assumptions (Ghoshal, and Moran, 1996, p. 20). The theory also gives a description of the governance frameworks based on the total effects of both the external and internal transactions rather that contractual relationships with stakeholders that exist outside the organization. The transaction cost theory has been broadly used in various management disciplines, with strategy works being one of the key disciplines where it has been utilized (Ferreira, Pinto, and Serra, 2014, p. 1908).

The main aim of the transaction cost theory has been to give reasons why most of the economic transactions appear the way they are in contemporary society. Despite its application being widely accepted in different parts of the world, the effectiveness of the theory has been widely contested by different scholars and stakeholders in different parts of the world (Hill, 1990, p. 510). It seeks to address the reason why some economic transactions are internalized within an organization’s boundaries while others are acquired to outside parties (Gerhold, Guasoni, Muhle-Karbe, and Schachermayer, 2014, p. 35). As such, the main purpose of this paper is to look at the reasons why some transactions costs offer valuable insights into understanding the trends that are experienced in contemporary corporate organizations.

Transaction Costs Theory Overview

Transaction cost theory tries to give a detailed account of the reasons why organizations exist and why they grow or seek out operations to the external environs. The theory assumes that organizations try to reduce the costs that they incur when exchanging resources with their immediate environments. Organizations also try as much as possible to reduce their bureaucratic exchange within the organization’s departments (Ghoshal, and Moran, 1996, p. 30). The theory also tries to explain the reasons why organizations weigh the costs of exchanging resources with the environment, against the bureaucratic expenses of in-house performance. The theory views the market and institutions as varied probable types of planning and coordinating the existing economic transactions (Ferreira, Pinto, and Serra, 2014, p. 1911).

From the theory, an increase in an organization’s external transaction expenses in comparison to its internal bureaucratic expenses makes an organization to develop because it gets the potential to carry out its operations more efficiently than when the operations were carried out in the market (Gerhold, Guasoni, Muhle-Karbe, and Schachermayer, 2014, p. 30). On the contrary, if by any chance the bureaucratic expenses for coordinating the operations are higher compared to the external transaction expenses, the company will definitely fall. Despite these factors determining the success of an organization, it is important to note that every organization has a potential to expand as long as its operations can be carried out in a cheaper way within the organization (Ghoshal, and Moran, 1996, p. 27).

According to the theory, a transaction cost happens when a product or a service is moved through a technologically discrete interface. As such, a transaction costs always happen all the times when a good or a service is transferred from one stage to the other, and where a new technology is adopted (Hill, 1990, p. 512). Some of the transaction costs that are related to resource’s exchange with the outside environment are always influenced by factors like opportunism, environmental uncertainty, risks, key company assets, and bounded rationality (Ferreira, Pinto, and Serra, 2014, p. 1915). The impact of the above-mentioned factors is always brought about by the fact that they have the potential to increase their external transaction costs, a process that has proved to be very expensive for the company to control. The application of this theory has been characterized by a number of debates in determining its effectiveness to meet its key objectives.

The use of transaction costs theory in understanding current organizational trends

One of the common theoretical foundations of contemporary types of inter-organizational linkages and trends is the theory of transaction costs whose use in organizational restructuring is related to the 1934 works of the Commons that only identified the organization’s measure and factor efficiency (Hill, 1990, p. 511). He made it clear that operations of organizations act as basic alternatives to the market served and the variable organization boundaries whose operations are highly dependent on transaction costs analysis that depict the economic balanced vertical and horizontal expansion operations (Ghoshal, and Moran, 1996, p. 24). The application of this theory has been considered important in the contemporary world because it helps equip entrepreneurs with the right knowledge that guide how they make decisions on whether to start a new business or even retain the existing businesses while developing specific parts of the organizations in question. The application of this theory, therefore, contributes towards solving most of the key issues that entrepreneurs and business persons face when trying to optimize on their organizational structure (Ferreira, Pinto, and Serra, 2014, p. 1910). By addressing the organization structure effectively, the theory does an effective job in equipping managers with the right knowledge that help them make some of the best decisions based on the changing organizational trends (Gerhold, Guasoni, Muhle-Karbe, and Schachermayer, 2014, p. 20).

The theory also works effectively in helping investors and scholars to understand the intensified and contemporary types of cooperation that are highly needed by the organizations to operate successfully. The theory also helps learners and investors to understand how organizations relativize the significance of the opportunistic actor’s phenomenon behavior as well as the high cost of monitoring market transactions within the sector that they operate in. By highlighting the different network types between the existing new strategies for activity coordination, the theory explains some of the strategies that could be used to prevent the existing conflicts by balancing network elements interests (Gerhold, Guasoni, Muhle-Karbe, and Schachermayer, 2014, p. 13). The theory also makes it easy to characterize the organization’s network forms based on the types of exchanges experienced in the organization as well as the communication patterns that are used by different organizations as they work towards attaining sustainability (Hill, 1990, p. 510).

Additionally, the theory defines the concept of the institution as the means where the rules of the organization’s operations and the limitations developed by stakeholders shape the interactions experienced and form the incentive structures that help participants interact at different levels, thus making the world more predictable (Ghoshal, and Moran, 1996, p. 34). Additionally, the theory defines an organization as an entity equipped with the right resources to help pursue the organizational goals through the help of the right institutional help. The definitions are given by the theory cater to the changing organizational needs that are brought about by changes in the market served by the organization (Kim, and Mahoney, 2005, p. 225). The theory also makes it easy to categorize organizations into formal, informal and understood as internal standards of the organization.

The theory further explains informal organizations as the kind of organizations that are not meant according to the laws that have been set by the law. Informal institutions can therefore as the kind of institutions that follow customary norms and other patterns of conduct that influence human behavior (Lajili, and Mahoney, 2006, p. 575). By knowing the category of their organization’s classifications, managers who apply this theory are able to understand the type of strategies that they should adopt to run their organizations smoothly. They also learn the do’s and the don’ts in their organization based on the category that they fall under. Handling organizational categorization makes the theory effective because it highlights how the organizations have been categorized in the contemporary period (Hill, 1990, p. 506).

The theory also highlights the changes that have been taking place and affecting organizational performances in the contemporary time. Some of the changes that have been discussed in the theory include the procedures, habits, honesty, and ethics, all which change with changes in customer preference and demands (Kim, and Mahoney, 2005, p. 226). To deal with these changes, the theory argues that understanding the characteristics of an organization should be treated as an individual trait that includes traits like diligence, ambition entrepreneurship, and perseverance. Highlighting the changes that affect organizational operations is seen as one of the ways through which the theory takes care of the contemporary organizational changes (Lajili, and Mahoney, 2006, p. 580).

The theory also explains the difference in how formal institutions are treated in relation to informal institutions. The theory explains informal institutions as the kind of organizations that are made up following the laid down legal standards, country policies, the existing tax and financial system, and the existing administrative procedures. Some of the key functions of formal institutions are always carried out by some specific organizations (Hill, 1990, p. 503). To explain the trends happening in contemporary organizations, the theory explains how the bureaucratic system is the largest challenge in organizational development. It also gives a highlight of how the system has heightened organizational transaction expenses and how the adoption of comprehensive solutions for purposes of facilitating various economic activities improve their management, thus explaining the trends experienced in different organizations effectively and adequately (Kim, and Mahoney, 2005, p. 232).

On top of helping in the definition and categorization of the organization into formal and informal institutions, the theory also gives an explanation of the civil society instructions and a detailed explanation of the existing market structures (Hill, 1990, p. 504). The theory defines the social capital and the citizens’ activities as well as the market intermediaries whose focus is to offer the sale object to the consumers with the aid of marketing, promotional, transport, and information tools amongst other important elements (Lajili, and Mahoney, 2006, p. 580). Most of the aid elements are not static, thus calling for managers to keep on learning about the changes that are happening in their operational market. The need for effective cooperation to make all the elements work perfectly despite the changes is also highlight in the theory, thus making it very important in learning more about the market changes and what they should do to address the issues as they carry on their operations.

Summary

From the discussion made above, the transactions costs theory offers some of the best insights that help learners understand the trends in the contemporary corporate organization. The way in which the theory defines and categorizes organizations is a depiction of the changes that are happening in the present day organizations because there are both formal and informal institutions that operate in different markets. By highlighting on the effects of social capital in the market and an explaining the issues that affect how organizations work, the theory makes some of the best insights of what managers could expect to get from the alterations of these factors. Most of these factors always affect the smooth running of organizations, and explaining them is termed as one of the best ways through which the theory offers important information into understanding the trends in the contemporary organization. These combined with other elements in the theory make it very insightful in helping managers and scholars understand the operations of the contemporary organization.

Conclusion

The transactions costs theory is amongst the theories that try to explain how organizations function and how they are run in different sectors of the economy. There have however been debates on whether the theory does a good job of providing valuable insights in explaining changes that affect the operations of the present day organization. From the explanations made, the theory makes a number of considerations that can be said to consider the changes that affect how different organizations work. To understand the operations of organizations in the contemporary period, the theory categorizes them into formal and informal institutions, each characterized by various identity characteristics. The theory also highlights some of the important elements that help leaders to guide their organizations in the most effective way possible. As such, from the analysis provided, the transactions costs theory offer valuable insights to leaders and organizations to understand the trends happening in the contemporary corporate organization. The theory works very effectively in helping scholars and business leaders learn more about what is happening in the business world and the strategies that could be adopted to help them run their operations better and effectively.

References

Ferreira, M.P., Pinto, C.F. and Serra, F.R., 2014. The transaction costs theory in international business research: A bibliometric study over three decades. Scientometrics, 98(3), pp.1899-1922.

Gerhold, S., Guasoni, P., Muhle-Karbe, J. and Schachermayer, W., 2014. Transaction costs, trading volume, and the liquidity premium. Finance and Stochastics, 18(1), pp.1-37.

Ghoshal, S. and Moran, P., 1996. Bad for practice: A critique of the transaction cost theory. Academy of management Review, 21(1), pp.13-47.

Hill, C.W., 1990. Cooperation, opportunism, and the invisible hand: Implications for transaction cost theory. Academy of Management Review, 15(3), pp.500-513.

Kim, J. and Mahoney, J.T., 2005. Property rights theory, transaction costs theory, and agency theory: an organizational economics approach to strategic management. Managerial and decision economics, 26(4), pp.223-242.

Lajili, K. and Mahoney, J.T., 2006. Revisiting agency and transaction costs theory predictions on vertical financial ownership and contracting: Electronic integration as an organizational form choice. Managerial and Decision Economics, 27(7), pp.573-586.

Auckland International Campus Auckland International Campus Auckland International Campus Auckland International Campus

Auckland International Campus

Auckland International Campus

Auckland International Campus

Auckland International Campus AM901001 Professional Project

Auckland International Campus AM901001 Professional Project

Auckland International Campus AM901001 Professional Project

Assessment Overview

This is the only assessment for this course. For this assessment you will define, plan and carry out a professional project involving the collection, analysis and interpretation of information (or data) and theory appropriate to an approved industry topic. You will synthesise solutions and draw conclusions from the analysis of data and produce a project report of a professional standard that meets the host organisation’s needs as well as academic requirements.

Conditions of Assessment

This is an individual assessment that you will complete in your learner-managed time, however, your lecturer will provide opportunities during class time for clarification, guidance, collaborative working opportunities, and group discussion. All work must be completely your own and all literature used must be referenced appropriately using APA 6th edition. As this is the only assessment for this course, in order to pass you must achieve a result of at least 50% for this assessment.

Learning Outcome(s) Assessed

Critically analyse and generate solutions to an applied organisational problem, including an appropriate methodology, suitable data collection and analysis methods, and a realistic timeline.

Situate the problem in the appropriate applied models.

Collect and analyse data, report findings, draw conclusions and make recommendations.

Prepare a comprehensive report on the research process and its outcomes.

Resubmission/Extensions/Late Submissions

Please see your course outline for guidelines around resubmission extensions, and penalties for late submissions.

Instructions

This assessment has three parts and each part will have its own submission date. This is to support your completion of the professional project.

To prepare for this assessment you will identify an organisational issue or problem within a New Zealand context, in order to situate the problem in the appropriate applied management leadership models and identify an appropriate research methodology to analyse and propose solutions. This should include data collection, analysis methodology, and the timeframe. This will allow you to prepare a comprehensive report on the research process and its outcomes, including recommendations.

Description

The Project should be up to 10,000 words, including a title page, an executive summary, table of contents followed by separate sections for identifying your issue of study, the findings and report will include financial and other considerations related to the issue being studied. APA 6th edition style citing and referencing must be utilised throughout.

Part 2: Report and Presentation of Findings

Due date: 10th December, Week 8, Block 4, 2018

Once you have approval from the Research Committee and your supervisor, you can continue with your Professional Project and put your project proposal and plan into action to begin your investigation and produce your report.

The report is the main document for the Professional Project. It is a refinement of the proposal and records what you did, and what you found during the investigation.

Once your report is complete you will also present your findings to a group at a time negotiated with your teacher. Your presentation will include a summary of the project topic, articulating the project aims, methodology, and your findings, conclusions, and recommendations.

Part 3: Reflection Report

Due date: 10th December, Week 8, Block 4, 2018

The purpose of the reflective report is to provide a means for you to think about your Professional Project work experience, and you as a problem solver, in some depth. This will be done in relation to you and your experience, but also in relation to the academic theory you were exposed to during your formal studies.

You are required to write a reflective report that will:

 show evidence of your critical thinking in examining aspects of your experience  give your evaluation regarding the application of theory in the practical environment  refer to areas for self-development, achievements, and growth.

Throughout the semester, it is recommended that you keep some form of reflective journal or notes that will assist you when writing your final reflective report.

Ensure that you reflect on the relationship between your whole experience and relevant theories, concepts or models from recent journal publications. Sources of information should be correctly referenced using APA 6th edition format.

Assessment Schedule

Criteria

5

4

3

2-0

Project Proposal

Project Proposal

Project Proposal Justification

The project proposal insightfully demonstrates:

perceptive critical justification for the project/problem solving approach planned that is appropriately aligned to the identified applied organisational

problem

perceptive critical use of contemporary literature to support the project proposal.

The project proposal clearly demonstrates:

clear and detailed critical justification for the project/problem solving approach planned that is appropriately aligned to the identified applied organisational problem

clear and detailed critical use of contemporary literature to support the project proposal.

The project proposal demonstrates:  critical justification for the project/problem solving approach planned that is appropriately aligned to the identified applied organisational problem

 critical use of contemporary literature to support the project proposal.

The project proposal does not, or does not fully, demonstrate:

critical justification for the project/problem solving approach planned that is not, or is not fully, appropriately aligned to the identified applied organisational problem

critical use of contemporary literature that does not, or does not fully, support the project proposal.

Project Proposal

Planning

5 4 3 2-0

The project proposal insightfully The project proposal clearly The project proposal demonstrates: The project proposal does not, or demonstrates: demonstrates:  planning for critical analysis that does not fully, demonstrate:

perceptive planning for critical  clear and detailed planning for includes:  planning for critical analysis that analysis that thoughtfully includes: critical analysis that thoughtfully  appropriate methodology does not, or does not fully, include:

thoughtful and meticulous includes:  suitable data collection and  appropriate methodology methodology  clearly appropriate methodology analysis methods  suitable data collection and

thoughtful and meticulous  clearly suitable data collection  realistic timelines including analysis methods data collection and analysis and analysis methods milestone planning, key  realistic timelines including methods  detailed and realistic timelines completion dates milestone planning, key

meticulous and realistic clearly including milestone  ethical considerations completion dates timelines clearly including planning, key completion dates  resources required to complete  ethical considerations

milestone planning, key  clear and detailed ethical the project  resources required to complete completion dates considerations  identification of credible literature the project

perceptive ethical  resources required to complete that is aligned to the solution of an  identification of credible literature considerations the project applied organisational problem that is not, or not fully, aligned to

resources required to complete  clear and detailed identification the solution of an applied the project of credible literature that is organisational problem

thorough identification of clearly aligned to the solution of credible literature that is an applied organisational

perceptively aligned to the problem solution of an applied organisational problem

Criteria 10-9 8-7 6-5 4-0

Project

Project

Report

Report

Situating the problem, introduction and aims.

The problem is insightfully situated in the appropriate applied model and the comprehensive report:

 perceptively articulates the underpinning philosophy of the research methodology including strengths and weaknesses

The problem is clearly situated in the appropriate applied model and the comprehensive report:

 clearly articulates the underpinning philosophy of the research methodology including strengths and weaknesses

The problem is situated in the appropriate applied model and the comprehensive report:

 articulates the underpinning philosophy of the research methodology including strengths and weaknesses

The problem is not, or is not fully, situated in the applied model that is not, or not fully appropriate, and the

report is not, or not fully comprehensive, and does not, or does not fully:

 articulate the underpinning philosophy of the research

critically justifies with insight the model(s)/method(s) applied and the plan to address the problem/questions

perceptively links to contemporary literature that is referenced appropriately

critically justifies with clear detail the model(s)/method(s) applied and the plan to address the problem/questions

clearly links to contemporary literature that is referenced appropriately

critically justifies the model(s)/method(s) applied and

the plan to address the problem/questions

links to contemporary literature that is referenced appropriately

methodology including strengths

and weaknesses

critically justify the model(s)/method(s) applied and

the plan to address the problem/questions

link to contemporary literature that is not, or not fully referenced appropriately

Collection, analysis of data, and discussion

10-9 8-7 6-5 4-0

Data is collected according to the project proposal and is insightfully reported with detail, including perceptive limitations, assumptions, and ethics and is thoroughly:

valid

reliable

free from bias

allowed for analysis

The professional project report is comprehensive and insightfully demonstrates perceptive critical inquiry that is well reasoned with insightful use of relevant data and thorough coherent critical argument.

Data is collected according to the project proposal and is clearly and appropriately reported with detail, including clear limitations, assumptions, and ethics and is clearly:

valid

reliable

free from bias

allowed for analysis

The professional project report is comprehensive and clearly demonstrates detailed critical inquiry that is well reasoned with clearly appropriate use of relevant data and detailed coherent critical argument.

Data is collected according to the project proposal and is appropriately reported including limitations, assumptions, and ethics and is:

valid

reliable

free from bias

allowed for analysis

The professional project report is comprehensive and demonstrates

critical inquiry that is well reasoned with appropriate use of relevant data and coherent critical argument.

Data is not, or not fully, collected according to the project proposal and is not, or is not fully appropriately reported and does not or does not fully include limitations, assumptions, and ethics and is not, or is not fully:

valid

reliable

free from bias

allowed for analysis

The professional project report is not or is not fully comprehensive and does not, or does not fully demonstrate critical inquiry that is well reasoned with appropriate use of relevant data and coherent

Findings,

Conclusions and

Recommendations

10-9 8-7 6-5 4-0

The professional project report insightfully:

articulates perceptive conclusions that clearly demonstrate perceptive evaluation and thoughtfully summarise the key findings with clear and appropriate links to the project aim/s.

perceptively articulates appropriate recommendations that insightfully provide perceptive and credible, specific, and actionable advice that is solution focused.

perceptively integrates appropriate contemporary literature to support with detailed

The professional project report clearly:

articulates detailed conclusions that clearly demonstrate critical evaluation and summarise the key findings with clear and appropriate links to the project aim/s.

clearly articulates appropriate recommendations that clearly provides detailed and credible, specific, and actionable advice that is solution focused.

clearly integrates appropriate contemporary literature to support with detailed findings, conclusions, and recommendations.

The professional project report:

articulates conclusions that demonstrate critical evaluation and summarise the key findings with appropriate links to the project aim/s.

articulates appropriate recommendations that provide credible, specific, and actionable advice that is solution focused.

Integrates appropriate contemporary literature to support findings, conclusions, and recommendations.

The professional project report does not, or does not fully:

articulate conclusions that demonstrate critical evaluation and summarise the key findings with appropriate links to the project aim/s.

articulate appropriate recommendations that provide credible, specific, and actionable advice that is solution focused.

Integrate appropriate contemporary literature to support findings, conclusions, and recommendations.

findings, conclusions, and recommendations.

Criteria

10-9

8-7

6-5

4-0

Reflection

Reflection

Reflection

The reflection insightfully demonstrates perceptive critical evaluation of the project process and its outcomes, comprehensively articulating with detail:

insightful critical thinking throughout the project

insightful application of theory in the applied environment

the outcomes of the project thoughtfully include reference to areas for self-development, achievements, and growth.

The reflection clearly demonstrates detailed critical evaluation of the project process and its outcomes, comprehensively articulating with detail:

Clear critical thinking throughout the project

clear application of theory in the applied environment

the outcomes of the project clearly includes reference to areas for self-development, achievements, and growth.

The reflection demonstrates critical evaluation of the project process and its outcomes, comprehensively articulating:

critical thinking throughout the project

the application of theory in the applied environment

the outcomes of the project including reference to areas for self-development, achievements, and growth.

The reflection does not or does not fully demonstrate critical evaluation of the project process and its outcomes, and does not, or does not fully and comprehensively articulate:

critical thinking throughout the project

the application of theory in the applied environment

the outcomes of the project including reference to areas for self-development, achievements, and growth.

Postgraduate Diploma in Applied Management/ Master of Applied Management Page 0 of 6 Professional Project: Assessment: Professional Project, 2018

Postgraduate Diploma in Applied Management/ Master of Applied Management Page 0 of 6 Professional Project: Assessment: Professional Project, 2018

Postgraduate Diploma in Applied Management/ Master of Applied Management Page 0 of 6 Professional Project: Assessment: Professional Project, 2018

Jeffrey Weiner Jeffrey Weiner is currently one of the most influential leaders

Jeffrey Weiner

Jeffrey Weiner is currently one of the most influential leaders in the United States and globally. He is currently the Chief Executive Officer (CEO) of LinkedIn, a professional networking company (Chakrabortty, 2018). During his tenure, LinkedIn has grown tremendously to become one of the most known social networking sites. He started as interim president in 2008 when LinkedIn was first started and has since grown to become the CEO. While working at LinkedIn, he was awarded the EY Entrepreneur of the year in 2011 together with Reid Hoffman (Chakrabortty, 2018). Prior to joining LinkedIn, Jeffrey worked at Yahoo for about seven years, and at Warner Bros prior to that. Jeffrey holds a Bachelor of Science degree in Economics from the University of Pennsylvania (Chakrabortty, 2018).

What makes Jeffrey Weiner a leader?

By being appointed as the CEO of LinkedIn, he was placed in a position of leadership. However, the activities that he performed when in that position are what make him a leader. He was able to successfully steer the growth of LinkedIn, by coaching and mentoring his employees to perform better (Meister, 2012). He always ensured that the employees remained creative, motivated and high performers. In doing so, he kept the company focused on having a growth rate of two new LinkedIn members every two seconds (Meister, 2012). This high growth levels while maintaining a motivated workforce are what makes him a good leader as he is able to satisfy the requirements of the shareholders and investors while keeping his employees motivated.

Leadership characteristics

Jeffrey views leadership as the ability to inspire other people and collectively achieve the required results (Meister, 2012). He, therefore, focusses on breaking down the goals into smaller doable bits and achieving the smaller steps with his team while maintaining focus on the larger goal. This method has enabled LinkedIn to grow from a start-up to a public limited company (Meister, 2012). Jeffrey is compassionate and uses an open leadership style (Meister, 2012). Jeffrey gives the company direction by communication of the required changes and the next goal for the company. He does this by openly communicating the strategy that the company will pursue at all times. He is known for using the mantra “Next play” to signify the next step for LinkedIn (Meister, 2012). This mantra has helped him maintain a positive attitude at the workplace, with each employee feeling that they need to participate in meeting the company’s goals.

Management capabilities

Jeffrey is able to successfully ensure that each of his employees is aware of their contribution to the organization’s success. He does this by encouraging all the employees to think and act as though they are the business owners of LinkedIn (Meister, 2012). This enables them to make decisions and act in a manner that positively impacts the revenues of the company. In this manner, he is able to delegate the responsibility towards the performance of LinkedIn to all the employees of the company. This has been translated to the growth of the company.

References

Chakrabortty, S. (2018). Jeff Weiner CEO LinkedIn Wiki Biography Profile Info, Biography of Famous Personalities|CelebsTV|Entrepreneur Wiki. Retrieved from http://www.biographywiki.in/2016/12/jeff-weiner-wiki-biography.html

Meister, J. (2012). 10 Leadership Lessons From Jeff Weiner, CEO of LinkedIn, Forbes. Retrieved from https://www.forbes.com/sites/jeannemeister/2012/09/10/10-leadership-lessons-from-jeff-weiner-ceo-of-linkedin/#34b36a2d39a4

Debates on Business Ethics Name: Institution: Date: The Summary on the Debate

Debates on Business Ethics

Name:

Institution:

Date:

The Summary on the Debate about Banning Fees in UK Universities

The debate on the banning of the fees of university education in the UK was centered around its cost and how that affects the quality of education. On one hand, the proponents of the debate argued that the university fees are quite high and therefore prohibitive to those students who come from low economic strata and cannot access sponsorship and grants. They argue that the high universities fees have entrenched inequality in the society in the sense that those students who cannot afford it are relegated to end up in trade schools, whereas they could be better placed pursuing well-paying careers in the higher institutions of learning.

On the other hand, the opponents argue that the high cost of university fees is meant to help the university institutions to maintain the high-quality standards of the education that is provided. Other of the same opinion argued that there was no need for university fees since those who cannot afford have other avenues for acquiring higher education such as scholarships and grants. There were also those who were on the view that instead of banning the fees it should at least be reduced, to give more people from the economically challenged background the opportunity to pursue higher education.

Summary of the Debate on Keeping the UK Green

The debate on how best to keep the UK green focused on the roles that businesses could play to promote environmental conservation. The discussants were in agreement that the essence of business ethics is to take the right course or rather acting ethically in all the aspects of a business, ranging from production, business procedures and processes and the company’s interaction with its employees and the outside people such as customers and the communities where the business is set up. Sustainability is one of the key business ethical issues as it involves the business undertaking initiatives that will ensure that a business is involved in the conservation of the environment. This demands that businesses set apart a budget through which they can contribute to environmental conservation and also adopt policies that will ensure that their procedures and processes do not contribute to the degradation of the environment.

However, the debaters could not agree on the best way in which businesses can contribute to the green UK. The proponents argued that recycling provided the best approach through which businesses could contribute to environmental sustainability in the UK, by recycling their raw materials and packing their products in the material that is recyclable. They also argued that businesses could provide their customers with incentives for recycling their products. The opponents argued that recycling amongst UK businesses has been going on for a while yet the level of sustainability has remained pretty much the same. They argued that unless there is a legal structure that mandated businesses to recycle their products there was no way businesses by themselves were going to invest much in the processes; that there are some businesses, which claim to be proponents of recycling yet they do little or even nothing to support the process.

Ethical Issues in the Provision of Free University Education in the UK

There were various ethical issues that come into play when considering the provision of free university education. Leach, (2017) argues that abolishing the university fees will make will only benefit the higher earning graduates that are about to repay their student loans with some interests. This will be quite regressive because in order to replace the tuition that is lost in terms of fee income and restore the maintenance grant the government will need to look for £9 million for every cohort student. The same estimates have been produced by institutions such as IFS, which demonstrate that there is quite little that may change for the university students who belong to the low-earning bracket.

The removal of the fees by the universities are if anything a long shot because many university administrators are hell bent of increasing the fees in order to secure revenues for their institutions. Arguably, this could be due to the focus by these institutions to ensure that their infrastructure and human resource is well taken care of in order to ensure that the provision of quality of education is not compromised. If anything, the cost maintaining the university infrastructure and human resource is subject to other economic factors such as inflation and university administration have to approach these external variables with a business mind. This explains why university administrators are quick to raise their fees whenever they have cause to do so. Jenkins, (2019 ) concurs with this arguing that many universities in the UK are very keen to raise their fees in order to prevent any further decline in their revenue, the like of which happened in 2012 when the undergraduate fee was pegged at £ 9 000 for every undergraduate, which made its real value drop to £ 8 500 due to the inflation rates at the time. However, the government has the responsibility of determining the level at which inflation will uplift based on its economic estimates and this cannot, therefore, be left to the universities to come up with their own inflation figures that they can use to determine their fees.

Evidently, in the provision of quality university education the university administrators have no option but to operate like businesses where they provide quality education to those who can afford it. According to a report appearing in The Conversation, (2016 ) points out that in recognition of this reality the government has come up with the Teaching Excellence Framework. This is a new process that is designed to measure and improve the teaching quality and student experience in the UK universities. Through this system, the universities that will demonstrate that they have the capacity of providing students with quality learning and rich student experience, are invariably rewarded with the mandate to raise their fees, though largely based on inflation. Therefore, in this system, the university feeds are determined by the TEF results and the universities must wait until they are through the TEF process because their increases can be confirmed. This process is, therefore, not arbitrary but rather structured to ensure that the fee increments are justified and that students receive value for their money, which is an ethical thing for the university administrations to do.

A critical look at the public funding of the university education indicates that there need to be a system that ensures that future generation of students will also have an opportunity for acquiring higher education, which cannot be possible if a university education is made free. Savage, (2019) points out that the current system works in such a manner that the government pays the university fees for the students and also give them an income contingent loans, which they pay back after graduation with the government deducting some amount monthly, based on what the graduate is earning. This system, therefore, supports the sustainability of affording university education of domestic students and will cease to work if the government is to abolish university fees.

Ethical Issues on Sustainability in the UK

Businesses have an ethical responsibility of ensuring that the UK remains green through promoting sustainability programs. The UK government has already taken steps to ensure that businesses, particularly producers take responsibility in the disposal of their waste through recycling. This became particularly urgent when in January 2018, the Chinese government imposed a ban on plastic waste that was being imported into the country for recycling. The UK businesses had relied on exporting plastic waste for recycling to China for a period of about 20 years and the ban left them stranded not knowing what would happen next. By then UK companies alone had shipped more than 2.7 million tonnes of plastic waste to the country (Taylor, 2018). This led to the UK government to come up with a new waste strategy where producers are forced to take charge of the waste that their businesses generate, which include the deposit return scheme that includes coffee cups, cans, and bottles. The system addresses packaging that imposes a 10 percent charge to the producers for the cost of recycling or disposal, which has largely failed. This is because businesses have a way of pushing back harder against any proposal that makes them bear the full cost of their destructive operations. (Laville, 2018)

This implies that UK businesses will not address the waste disposal issue at free will through taking responsibility to ensure that their processes and products do not harm the environment in which their consumers live. In abdicating this role to the government, the UK businesses are acting unethically as they largely come across as entities that are focused on just making profits even at the expense of the markets that they are serving. In confirmation of this fact, Taylor, (2018) point out that the recycling rates amongst the UK businesses are pegged at 45 percent, below the 50 percent that is targeted by the EU by 2020. This is far below other European neighbors such as Germany, Austria, and Slovenia. But the trend is now untenable taking into account the revelations about the fraudulent activities in the recycling industry in the UK, the increasing public awareness about the destructive extents of ocean pollution and the impact of plastic waste on the wildlife.

The business has now to own up to their negligence and ensure that the environment that their consumers live in must be protected as a measure of the sense of their ethical responsibility. The demand by the market is surely going to set heads rolling, particularly amongst the producers and retailers who deal in products that result in environmental degradation. Laville, (2018) points out that through the UK government new strategy, major drink brands, supermarket, and retailers are going to pay tens of million pounds more for recycling their used packaging. Previously, they only paid a fraction of the cost of collecting and recycling about 11 million tonnes of packaging waste that was produced in the UK. Corruption and abuses went largely undetected in that old system whereas many large companies avoided paying their collection and recycling fees. The structure of the system encouraged the export of plastic waste to countries such as China. In most instances, the process of transporting this waste to these countries resulted in the spillage of plastic into the ocean or ending up in landfills instead of them contributing to the investment in reprocessing in the UK. In that arrangement, about two-thirds of plastic waste in the UK ended up being exported rather than being reprocessed, which was essentially a very comfortable way in which businesses met targets without having to face up the underlying recycling issues. The Guardian, (2018) editorial argues that producers and retailers need to have been handed this responsibility much earlier than now and incentivized by the UK government to change their waste handling approach rather than passing the buck to other countries such as China. There is also a need for nurturing the recycling industry in the country and the manufacturers of renewable alternative batteries, single-use bags, and other green products. In this case, the government has a huge intermediary responsibility to play in the sense that it needs to set up legal structures that demand of businesses to rise up to their sustainability ethical responsibilities. This will ensure that businesses prioritize sustainability in order to avoid government sanctions and litigation expenditures. The government can also invest in the recycling industry itself as evident with the £8 million funds for plastic research. It is also quite positive that the government seeks to the new targets that are set by the EU regarding sustainability. This implies that making UK green cannot be left to businesses alone. The collaboration between all stakeholder will help to make the process successful. However, businesses have the ethical responsibility to ensure that they safeguard the environments in which their consumers live in.

Bibliography

Jenkins, S. (2019 ). Cutting tuition fees will turn universities into vassals of the state . The Guardian . Retrieved from https://www.theguardian.com/commentisfree/2019/jan/10/universities-face-financial-meltdown-vassals-state-tuition-fees-scheme-fail

Laville, S. (2018). Retailers to pay up to £1bn for recycling under waste strategy. The Guardian. Retrieved from https://www.theguardian.com/environment/2018/nov/11/retailers-to-pay-up-to-1bn-more-for-recycling-under-waste-strategy

Leach, M. (2017). The pros and cons of abolishing tuition fees. WONKHE. Retrieved from https://wonkhe.com/blogs/abolishing-university-tuition-fees-the-pros-and-cons/

Savage, M. (2019). University fees cut would hurt mobility and aid rich, PM told. The Guardian. Retrieved from https://www.theguardian.com/education/2019/jan/05/university-fee-cuts-theresa-may-willetts-greening

Taylor, M. (2018). Rubbish already building up at UK recycling plants due to China import ban. The Guardian. Retrieved from https://www.theguardian.com/environment/2018/jan/02/rubbish-already-building-up-at-uk-recycling-plants-due-to-china-import-ban

TheConversation. (2016 ). Understanding the increase in university fees – and what it means for students . Retrieved from https://theconversation.com/understanding-the-increase-in-university-fees-and-what-it-means-for-students-62985

TheGuardian. (2018). The Guardian view on recycling: a system in need of deep cleaning. Retrieved from https://www.theguardian.com/commentisfree/2018/dec/18/the-guardian-view-on-recycling-a-system-in-need-of-deep-cleaning

5

PROJECT MANAGEMENT CONSULTANCY REPORT SUILVEN OIL FIELD PROJECT Executive Summary Fitzroy Oil

PROJECT MANAGEMENT CONSULTANCY REPORT

SUILVEN OIL FIELD PROJECT

Executive Summary

Fitzroy Oil Company is in the process of developing the Suilven Oilfield, which is located offshore in the central North Sea. The company has already done a geological survey, which confirmed that the oil field is indeed viable. In order to inform their decision, the board of the company would like to take a step further to evaluate the financial viability of the project. They have therefore decided to seek the services of a project management consultant to evaluate the financial viability of the project, as well as to recommend a suitable project plan. This report summarizes the findings of this review.

Table of Contents

Executive Summary 2

INTRODUCTION 4

a. Suilven oil field project details 4

b. Proposed project plan and milestone dates 5

DISCUSSION OF FINDINGS 7

a. Project valuation 8

b. Sensitivity analysis of the findings 9

c. An analysis of the options that may affect the project 11

CONCLUSION 12

Limitation of scope 12

REFERENCES 14

APPENDIX 15

INTRODUCTION

Suilven oil field project details

The Fitzroy Oil Company is interested in exploring an offshore oil field named Suilven. Since this oil field is located offshore at the central North Sea, the company would have to use a conventional offshore technology which has a conventional production facility that has been supported by a girder structure. The board is impressed by the technology being used by Shell at their Fulmer oil field. Therefore, they would like to fully emulate this technology. However, since the Suilven oil field is relatively smaller compared to the Fulmer oil field, the company would have to make some few changes to the transportation module in order to save on the high infrastructural costs that they would incur in order to connect their oil field to the pipeline system. Instead of transferring the oil using the system of pipelines located on the seabed, the company will have to use a floating storage unit (FSU) and a single anchor leg mooring (SALM). Instead of being connected to the pipeline system, the oil will be pumped into an FSU after which the converted tanker will be moored to the SALM. Thereafter, the oil will be transferred to tankers that will transport the oil to and from the onshore terminals. This transport arrangement has been adopted before with considerable success.

Adoption of this project will require the construction of six basic units namely the production jacket, accommodation jacket, FSU, SALM, accommodation and control module and the production module. The construction towing, transportation and installation of this equipment form the initial investment that will be incurred, should this project be undertaken. The other major class of costs for this project is the operational costs. These costs are assumed to remain constant throughout the project lifecycle.

The Fitzroy oil company would like to commence the project on 1 September 2018, subject to the board approval.

Proposed project plan and milestone dates

It has been assumed that the project will kick off on I September 2018 and that there would be no delays caused by the different weather patterns. In addition, it was assumed that work will be ongoing for seven days in a week and that a year has 365 days. Based on these assumptions the project milestones will be as follows:

This can be summarized in the project network shown below:

DISCUSSION OF FINDINGS

The main aim of doing a financial viability review is to check if the value of the benefits outweighs the costs that will be incurred to do the project (Elliott, B. and Elliott, J., 2012). This will ensure that Fitzroy Oil Company does not engage in a loss-making venture. This section outlines the findings of the various financial tests undertaken in order to determine the financial viability of the project. In doing this review, the following was assumed:

The expected project lifetime is 25 years. The Fitzroy Oil Company will not utilize any form of technology in a bid to extend the project lifetime.

The initial costs and operational costs were predetermined. The operational costs will remain fixed throughout the project life cycle.

The prevailing discount rate is 20%. This discount rate will remain fixed throughout the project life cycle.

All activities will take place seven days a week. A year is assumed to contain 365 days.

The output is predetermined. This is given by the number of barrels produced per day.

There will be normal production losses of 5% of the total production.

The cost per barrel is assumed to be $ dollars per day.

The prevailing exchange rate will remain at $1.35 = £1 throughout the project lifetime

A simple tax of £12 per barrel of oil sold will be charged.

All other factors remain constant.

The two main tests done to determine the financial viability of the project is the evaluation of the net present value (NPV) of the project and the estimation of the internal rate of return (IRR). These tests are based on the assumptions listed above.

Project valuation

The sales revenues have remained positive throughout the project lifetime. However, they have gradually declined with the gradual depletion of the oil field over the period of review. This decrease has been shown in the graph below:

The net cash flows have also been reducing at the same rate as the sales revenues. This can be seen in the line graph above. However, it should be noted that the net cash flows will remain positive up to the 16th year, after which it will be negative until the end of the project. However, these losses will not greatly affect the overall net cash flows which will amount to £1,641.34 million. Therefore, this serves as a confirmation of the financial viability of the project. This was further confirmed by doing the following analyses:

Return on investment (ROI)

The ROI was calculated based on the projected net profits and the predetermined initial investment required. The ROI amount to 258%. This shows that the earnings will be 258% of the initial investment. This is a good performance as it shows that the project will fully recoup the initial investment. However, the ROI has a weakness in that it does not consider the time value of money, and may therefore fail to be conclusive.

Net present value (NPV)

The Net Present Value (NPV) when calculated using a discounting factor of 20% is positive. The total NPV amounts to £518 million. The positive NPV confirms that the project is viable since even when the present value of future earnings is determined, it still remains positive (Bodie, Z., Kane, A. and Marcus, A., 2014). Based on this metric, the project should, therefore, be undertaken.

The internal rate of return (IRR)

Calculation of the internal rate of return serves as a further confirmation of the results attained from the calculation of the net present value. In this case, the IRR was quite high, at 55%. This further confirms that the project is feasible since the discounting factor of equating the net present value of project cash flows to zero is quite high (Bodie, Z., Kane, A. and Marcus, A., 2014).

Sensitivity analysis of the findings

Fitzroy oil company is concerned about the variability of the prevailing oil prices and exchange rate. An analysis of the sensitivity of the net cash flows to the changes in the prevailing oil prices and the exchange rate has been done. The results have been summarized in the graphs below:

From the graph, it is clear that changes in the price levels will majorly have a great effect on the net cash flows of the prior years. An increase in prices will lead to a rise the level of net profits while a decrease in prices will lead to a fall in the level of net profits.

Similarly, the effects of exchange rate fluctuations, as shown in the graph, below will have an impact on the profit levels of the company.

This analysis shows that the projected earnings are sensitive to the fluctuations in prices and exchange rates.

An analysis of the options that may affect the project

The board members are interested in knowing the implications of an inclusion of a second transportation fleet on the project’s financial viability. Therefore, a review of the changes of the NPV and IRR due to the inclusion of a second fleet has been shown in the table below:

Option

ROI (%)

Total NPV (£ Million)

IRR (%)

1. One transportation fleet

258%

518

55%

2. Two transportation fleets

251%

507

54%

The inclusion of a second transport fleet will reduce the net present value reducing by £11 million , the return on investment by 7%, and the internal rate of return by 1%. However, it will also reduce the time taken for transportation by 50%. Therefore, it may be beneficial for the board to consider having a second transportation fleet. This time savings will be beneficial to the company since there may be delays caused by harsh weather conditions. It is expected that for the period between October and March, there may be the occurrence of winter storms in the area. This will derail the towing out and installation activities. An inclusion of a second transportation fleet may check these project delays.

CONCLUSION

From the reviews done, it is evident that the project is viable. The project will have positive cash flows throughout the project lifetime. In addition, the total net present value of the project, even with price shocks and changes in the prevailing exchange rates, remains positive. This confirms that the project exhibits signs of withstanding any price changes without experiencing losses. In addition, the internal rate of return is favorable.

Based on the review, it would be recommended that the management uses two transportation fleets as opposed to one. This will enable the company to save on time and therefore will check the probability of having project delays due to bad weather conditions.

Limitation of scope

This review was limited to the information availed by the Fitzroy Oil Company. This means that there may be some useful information missing from the review. For instance, the review did not consider the costs and benefits that may arise from the equipment over the years. In the review, the equipment has not been depreciated or revalued throughout the project lifecycle. In addition, it is not clear if the salvage value of the equipment was included in the review. These are major considerations, given that the equipment is the only fixed assets in the project. Therefore, it would be recommended that the company does an in-depth review of the different costs that may be incurred in the project.

In addition, this review did not cover the changes that may occur in the business environment over the entire project cycle. This project will last for over 25 years which is enough time for the macroeconomic conditions to change (Reynolds, L. R., 2011). It would, therefore, be prudent for the company to engage an economist to supplement the financial appraisal with an economic review of the project viability.

REFERENCES

Elliott, B. and Elliott, J., 2012. Financial accounting and reporting. Harlow, England: Financial Times Prentice Hall.

Dyson, J., 2010. Accounting for non accounting students. 8th ed. Harlow England: Pearson Education Limited.

Atrill, P., 2009. Financial Management for Decision Makers. 5th ed. Harlow England: Pearson Education Limited.

Maynard, J., 2013. Financial accounting, reporting, and analysis. Oxford: Oxford University Press.

McLaney, E. and Atrill, P., 2012. Accounting An Introduction. 6th ed. Harlow England: Pearson Education Limited.

Nigel Slack et al., 2001. Operations Management. Prentice Hall, New Jersey

Reynolds, L. R., 2011. Basic Microeconomics. New York: Textbook Equity

Bodie, Z., Kane, A. and Marcus, A., 2014. Investments. 10th ed. New York: McGraw-Hill Education.

APPENDIX

The detailed calculations and project network have been attached in a separate excel workbook.

15

REFLEXIVE REPORT 10 Running Head: REFLEXIVE REPORT 1 Reflexive Report Student’s name

REFLEXIVE REPORT 10

Running Head: REFLEXIVE REPORT 1

Reflexive Report

Student’s name

Professor’s name

Institutional affiliation

1.0 Introduction.

The information technology sector has experienced a lot of changes and introduction of technology is one of the major achievements. The attempt to replace the use of papers in offices with technological methods has made doing work more efficient and effective. The introduction of the internet, cloud, and computers have played a significant role in rendering the offices paperless given that the process and store data which would otherwise be done manually (Smyrichinsky et al., 2014). Many companies are striving towards achieving this mission and AIA Financial Services Network Limited (AIA) is not exceptional (Bartold, 2017). This company uses a lot of papers hence minimizing its paper consumption rate has been a real struggle.

New Zealand happens to be one of the areas where the idea of putting paperless office intofunction is experienced in sectors such as, banking and finance, production of raw materials, as well as the export and import trade. AIA Financial Service Network embraced this idea because it smoothens sustainability to the environment (Flaherty & Lovato, 2014). When doing the research, Catherine prepared questionnaires which she administered to some employees within the company. She also interviewed some employees both face to face and over the phone. She also did a lot of research online as well as from books and journals. This reflexive report aims at reflecting on the challenges Catherine faced while conducting her project, the problems she encountered while gathering, analyzing, and storing data on her project. In this reflexive report, there will be a brief analysis of the experiential theory of learning and how it is connected to the challenges she faced at the field as well as how she tackled them and what she learned as she was trying to create solutions for her challenges.The same report will cover her areas of achievement, growth, and self-development based on the problem-solving skills she used while trying to solve the challenges she faces both at the field and while presenting the data.

2.0 Reflection.

2.1. Choosing appropriate methodology

After choosing the organization to research on, Catherine found it difficult to establish the appropriate methodology to use during her study given that her research was controversial and sensitive. She found it a little bit challenging to find the right procedure to conduct her research. This happened at the beginning of the research given that she had not yet established the right design that can best provide answers in her project. When she was choosing her methodology, she had to start by focusing on the end result as in what her research project was meant to accomplish. By having an idea on the type of information she required, this would make it easy to narrow available methodologies(Lewis, 2015). Given that she required clear, highly data-driven and definitive research results, she identified that what she needed a vast sample size and quantitative data. This is because when writing a report, statistical significance is the primary issue of concern when extrapolating results from any samples. Catherine required quantitative data and therefore she settled on conducting a survey that has quantitative questions. As a result, she prepared questionnaires and also opted for online surveying tools so that she could allow the session to be more interactive as well as reduce fatigue.

Also, before choosing an appropriate methodology, she had to consider the sample size, timing, and availability of existing information. Catherine needed to consider how big AIA Financial Services Network Limited is, and the number of workers around so that she would be confident enough to make business decisions that would be based on the results she gathers. She also had to consider the amount of time she has for her to conduct her research. There are methods which one can settle on when she has a lot of time and there are some she cannot settle on when she has limited time for her study(Bell et al., 2018). Given that she had six months to do the research, conducting both face to face and online interviews would be appropriate. She also had to consider a method that would consume way too much time and lead to late submission of the project. In a way, Catherine had to consider whether the data she wanted to gather about the company’s efforts to embrace the idea of the paperless office was in other sources. Such knowledge would help her establish whether it is really necessary to conduct a primary research or she could possibly have the project complete by depending on secondary research (Choy,2014). By considering those factors, Catherine was capable of selecting the right methodology to use when conducting her research, and most importantly accomplish her project goals.

2.2. Maintaining focus and staying motivated

Secondly, Catherine faced the challenge and staying motivated and focused on the project. This research project was large hence she was prone to a challenge of internal-maintenance of the motivation to keep working on the project despite the challenges she faced in the process. This happened in the middle of the research given that she could experience the pressure of work and the many personal commitments she was required to accomplish besides the project. Lacking motivation and losing focus is considered a challenge because it would lead to wastage of time which could make her not to submit the project, not conduct intense research, not finish the project in time or worse off not to complete the project (Kohm, 2016). Sometimes she would get completely get exhausted hence postpone the project to another day. As a result, she had to establish small milestones within her research and make merry upon achieving them. This is because the research process would take longer to accomplish and it would be tiresome for her to wait until she achieves the ultimate goal then celebrate (Grebe et al 2014). By breaking things up into small portions, Catherine was able to complete each portion one by one and reward herself after writing 10 pages of the project and this would greatly motivate her to work on the rest of the project. By prioritizing her project, and weighing the importance of the project, she developed enthusiasm for it.

In a way, she also expected imperfection. This is because researchers can encounter conflicting data, failed experiments, and non-statistically important data more often than they expect. Equally, there is nothing as disappointing and demotivating as thinking that you cannot reach set goals because they may be unattainable or unrealistic. By doing too much in a single day, she could get overwhelmed and even discouraged. At the start of the project, it was possible for her to work for long hours but as time passed by, she began losing focus. She, therefore, had to come up with ways of working smart so that at the end of the day she would achieve a lot just within shorter periods compared to the early stages of the research. Smart methods include choosing effective technologies to enable her to complete experimental procedures without compromising results as well as efficiently storing information (Mahdi, 2015)). Moreover, Catherine would take time out in the evening and during the weekends so that she would do something for herself such as reading books, going to the gym or taking a walk. This is because she understood that pushing herself to exhaustion would play a significant role in sabotaging her motivation and focus on the project. She had to adjust her attitude and believe that nothing is easy and that she was bound to encounter numerous challenges before coming up with a perfect project. This would only be possible if she chose to stay strong and focused on the end results (Herzberg, 2017). Generally, expecting that not all things will go as planned will enable one get prepared to face all situations, prevent one from feeling discouraged and help one stay motivated.

2.3 Handling the data

After completing her research, Catherine experienced a challenge in dealing with the data. Analyzing and presenting data is the most crucial part of all academic projects and it can sometimes be a daunting task. It is important to process the raw data collected in the field to a form that can be understood by an independent observer. This includes analyzing it correctly, interpreting the data, making sense out of the data and appropriate presentation (Silverman,2018). This became a challenge because time was running but she had raw data that she had collected by conducting interviews and administering questionnaires and the data was not organized and ready for presentation. Given that Catherine understood that data analysis plays an important role in making people understand results of the survey she conducted, validate the already research as well as expand the current research, she had to work on her skills. Due to hurrying, she would type very fast and at the end, she would realize that she had done a lot of errors and worse off she would realize some after printing part of the assignment. Similarly, she experienced the cost challenge given that the project given that she had to travel severally to the company to go interview the organization’s workers. Equally, she spent a lot of money to get the whole project printed and everything put in place.

To deal with the large volumes of data, Catherine she had to fast connect her research with those that were already existing. Based on a huge survey of the literature, she acquired the considerations to organize her research given that there is the need to present the data in a manner that shows how the research provides knowledge to one. Getting back to the methodologies one chose for the report can also help in handling the data. She also had to embrace technology to equip her with information on how to correctly present data acquired through questionnaires. Either way, technology would help her handle simple mistakes like typing errors for she would use editing software (Chambers, 2017). Presentations of data became simpler when she decided to let the data drive her presentation hence she correctly presented the data around research questions. First, she had to determine the message she wanted to present by extracting only important and necessary pieces of information. In presenting her data, she had to use a pictorial representation of the data by using pie charts so that it could bring the visual aspect hence making the data easy to understand (Weissgerber et al., 2015). It is important to be keen on the accuracy of the graph so as the information about collected data does not get misinterpreted (Orr, 2015). She, therefore, had to strive to make sure her pie charts were neat and easily interpretable.

3.0 Theory of Learning

The experiential learning theory was proposed by David Kolb and it entails learning from experience. This theory offers the basis for an approach to learning and education as a permanent process that is utterly based on social and cognitive psychology, as well as logical traditions of philosophy (Moon, 2013). According to him, knowledge is gained by grasping and transforming experiences which include emotions, cognitions, and environmental factors.

The centre of Kolb’s four-stage model is a modest explanation of a learning cycle that demonstrates how one’s experiences can be translated through reflection into perceptions,

which are actually used as monitors of lively experimentation and the selection of fresh experiences. Kolb states the stages as active experimentation (AE), concrete experience (CE), abstract conceptualization, and reflective observation (RO). The experiential learning theory emphasizes the significance of experiential events, such as laboratory sessions and fieldwork (Kolb, 2014). Nevertheless, it has not had those forms of learning prioritized. Kolb proposes that students build a preference for learning in a certain way. Students might learn various learning styles in diverse situations, but they happen to favour a particular learning behaviour compared to the other. He, therefore, describes four learning styles that are associated with various ways of solving problems. Divergers view circumstances from numerous perspectives and depend on the creation of ideas and brainstorming (Poore et al., 2014). Assimilators employ inductive reasoning they are capable of creating models that are theoretical. Convergers on the other hand heavily rely on theoretical deductive reasoning. Accommodators carry out experiments and plans and they are likely to adapt to circumstances they find themselves in. Assimilators employ inductive reasoning when faced by challenges. The specific selection of learning style reveals the individual’s learning history, environment, and abilities.

In the case of finding out the right methodology to use in her research, Catherine can be considered an assimilator. She had to reason critically so she can establish the right methods to use. She had to consider going for methods that can enable her to gain a lot of information without putting so much effort on the same. Similarly, she had to choose methods that are time-saving so that she could make sure she is done with field work early enough to enable her focus on analyzing and presenting the data. In the case of maintaining focus and staying motivated, Catherine can be referred to as an accommodator. She was well informed of the challenges she would undergo while in the process of carrying out the project and she was positive about it. The accommodative character comes in when she knows that when one is doing a research, there are possibilities one can get it wrong hence she stayed positive about the facts(Stein, 2018). As a result, she decided to do her best and perform other activities so that she could not lose her focus and become demotivated. As a diverger, she faces the issue of data analysis and presentation from an appropriate. By weighing her option, she was able to settle on pie charts as her means of data presentation so that the data would be easily understood.

4.0 Conclusion

In conclusion, working on the project was an experience that was quite overwhelming and full of lessons. First, as much times are changing, the idea of adopting paperless work office will still take time to be implemented in the organization even though it has many advantages. Secondly, the challenges Catherine faced triggered the aspect of self-awareness that is within her. She was able to identify the fact that she can find solutions to challenges without asking for help from people. She was also able to acknowledge the fact that she can take up a task despite the fact that she knows that a particular task may be either a success or a failure. The aspect of resilience showed up in her because she was able to maintain her focus throughout the research. Problem-solving entails overcoming the obstacles one faces while trying to accomplish set goals (Hesse et al., 2015). Catherine well equipped with skills such as creativity, research, risk management, and decision making which helped her manage to handle the project right from the beginning to the end. Moreover, self-confidence is a significant skill that enables one to trust in herself and believe that she can produce something good despite undergoing a series of challenges (Suoret al., 2017). Otherwise, handling the project was a thrilling experience that enabled Catherine to learn a lot about how AIA Financial Services Network Limited works and equally enabled her to develop a sense of achievement, growth, and self-development.

References

Bartold, P. M. (2017). A paperless office–what does it mean?. Australian dental journal, 62(1), 5-5.

Bell, E., Bryman, A., & Harley, B. (2018). Business research methods. Oxford university press.

Chambers, J. M. (2017). Graphical Methods for Data Analysis: 0. Chapman and Hall/CRC.

Choy, L. T. (2014). The strengths and weaknesses of research methodology: Comparison and complimentary between qualitative and quantitative approaches. IOSR Journal of Humanities and Social Science, 19(4), 99-104.

Flaherty, C., & Lovato, C. (2014). Digital signatures and the Paperless Office. Journal of Internet Law, 17(7), 3-10.

Grebe, C., Smith, M., & Ball, D. (2014, May). An Offshore Regulator’s Perspective: Maintaining Focus on Managing Spill Risk. In International Oil Spill Conference Proceedings (Vol. 2014, No. 1, pp. 890-900). American Petroleum Institute.

Herzberg, F. (2017). Motivation to work. Routledge.

Hesse, F., Care, E., Buder, J., Sassenberg, K., & Griffin, P. (2015). A framework for teachable collaborative problem solving skills. In Assessment and teaching of 21st century skills (pp. 37-56). Springer, Dordrecht.

Kohm, B. (2016). Establishing and Maintaining Focus Knowing What Not to Do Is as Important as Knowing What to Do. In The Power of Conversation (pp. 27-41). Routledge.

Kolb, D. A. (2014). Experiential learning: Experience as the source of learning and development. FT press.

Lewis, S. (2015). Qualitative inquiry and research design: Choosing among five approaches. Health promotion practice, 16(4), 473-475.

Mahdi, D. A. (2015). Motivating reluctant EFL students to talk in class: strategies and tactics. Theory and Practice in Language Studies, 5(8), 1703-1709.

Moon, J. A. (2013). A handbook of reflective and experiential learning: Theory and practice. Routledge.

Orr, K. S., Pagallo, G. M., & Parziale, G. (2015). U.S. Patent No. 8,972,947. Washington, DC: U.S. Patent and Trademark Office.

Poore, J. A., Cullen, D. L., & Schaar, G. L. (2014). Simulation-based interprofessional education guided by Kolb’s experiential learning theory. Clinical Simulation in Nursing, 10(5), e241-e247.

Silverman, B. W. (2018). Density estimation for statistics and data analysis. Routledge.

Smyrichinsky, P. T., Meng, P. E., & Kramer, S. (2018). Practical application challenges for construction submittals in a paperless office.

Stein, M. (2018). Theories of experiential learning and the unconscious. In Experiential Learning in Organizations (pp. 19-36). Routledge.

Suor, J. H., Sturge‐Apple, M. L., Davies, P. T., & Cicchetti, D. (2017). A life history approach to delineating how harsh environments and hawk temperament traits differentially shape children’s problem‐solving skills. Journal of Child Psychology and Psychiatry, 58(8), 902-909.

Weissgerber, T. L., Milic, N. M., Winham, S. J., & Garovic, V. D. (2015). Beyond bar and line graphs: time for a new data presentation paradigm. PLoS biology, 13(4), e1002128.

REFLEXIVE REPORT 12 Running Head: REFLEXIVE REPORT 1 Reflexive Report Student’s name

REFLEXIVE REPORT 12

Running Head: REFLEXIVE REPORT 1

Reflexive Report

Student’s name

Professor’s name

Institutional affiliation

The business industry is currently undergoing a lot of changes and this comes along with challenges. Organizations today face challenges that vary in so many ways from what the people in the past were experiencing (Markides 2015). The challenges include financial management, uncertainty, globalization, innovation, government policy and regulation, technology, complexity, information overload, diversity among many more. These challenges are likely to cause discouragement, retreatment of efforts, weak or no team cohesion among workers, whereas it may cause reduced production within the company. Just like any other field, organizations also appoint leaders whose purpose is to develop endearing strategies and execute them radiantly as well as developing personal, departmental, team, and organizational capabilities (Harris 2015). Catherine’s report is therefore based on the issues of cultural diversity experienced in Ministry of Works and Development in New Zealand, how it affects the company and leadership styles as well as the theories that help in curbing that problem. This reflection, therefore, seeks to explain her achievement, experiences, areas of self-development, how she went about the project, what she learned and her suggestions on the issue of cultural diversity.

Handling the report on organizational issues within New Zealand was involved, and it required commitment. When tackling an assignment, it is always advisable to go through the question several times to comprehend its requirements. By breaking the topic down into several segments and circling the keywords, Catherine was able to identify the right textbooks, notes, magazines, and sites to visit while doing her research. She had to identify the key concepts in organizational issues because it would enable me to plan how to handle the task. Upon analyzing several cases, she found out that the issues of cultural diversity were rampant among New Zealand based organizations (Gröschl, 2016). Typically, one keeps the question in mind while researching to stick to it and avoid being irrelevant. To approach the assignment from the right angle, she had to take some short notes on the issues of cultural diversity and try to figure out the primary themes. The next step was finding the proper process to develop her response considering that assignment should be done with the rhetorical aim about the lecturer. With all the preparations, Catherine started the assignment feeling relaxed with my objective being yielding the best by cross-checking on grammatical errors and any possible mistake. At a glance, the job seemed a lot and difficult for an individual because she found it challenging to gather relevant information and find out the right materials to use in her research. It is normal for one to feel stressed about undone assignments just like she did. Sometimes, one feels like she still has enough time to handle the tasks and they tend to procrastinate until reality hits them which leads to the presentation of shoddy work. Catherine felt overloaded because she also had more tasks in different fields. With a load of work waiting to be handled, she had to correctly time myself and boycott social activities to have the assignments correctly done. Although balancing between handling assignment and doing a chore was a challenge. The urge to achieve my goals of having a brighter future encouraged and pushed her towards tackling the task.

Writing the report on cultural diversity was overwhelming, but she had to apply some strategies learned both inside and outside of class. Given that she had to visit the Ministry of Works and Development in New Zealand when conducting her research, she had to draft introductory letter to the organization’s management to inform them about her intentions to conduct her research within their environs. Catherine had prepared questionnaires which she distributes to employees in the organizations and also interviewed several people including the chairman of the employees. However, small mistakes such as Sometimes it is difficult to focus on work if you do it on the bed or at a friend’s house. Therefore, it is important to observe simple strategies like creating space in the bedroom away from distractions where one can comfortably focus on work. Prioritizing her work is a strategy that helped her complete the whole report in time. It is advisable to consider the level of familiarity you have with assignments or most important be realistic when prioritizing assignments by considering the urgent ones then later handling those with a more extended deadline and as a result, she had to prioritize the project first so that she would avoid issues related to the late submission. Moreover, Catherine has developed a routine to help enhance her effectiveness in doing her homework and this entails understanding her style of learning. People have varying learning styles, and it is always advisable that one identifies the class they belong(Willingham et al., 2015). This strategy helps when researching because it enables one to locate the right materials. Some people can hear information and retain it whereas others have to write down to remember, so it is always necessary to understand yourself. In her case, she had a notebook where she had indicated all the ideas she acquired from different sources.

The aspect of cultural diversity has significant implication in the functioning of the Ministry of Works and Development. First, when workers come from varying cultures, each of them has a unique way of thinking thus can make analyzing matters within an organization easy and from a wide variety of perspectives (Rodríguez-Pose & Hardy, 2015). This is a thing which is very hard to achieve when an organization comprises of workers who are from the same culture. Secondly, there is an increase in the tendency of the workers to absorb shocks that result from the expansion of businesses to other countries and even becoming international. There are many obstacles that can hinder expansion of an organization, for example, difficulties in gathering information concerning local laws and customs (Cremades & Mugford, 2018). However, with a diverse workforce, they are able to utilize individual knowledge of its workers to achieve its objectives. Either way, workers can inform their employees about their culture which in turn helps them absorb the culture shock when working in foreign nations. In normal circumstances, organizations that have not embraced cultural diversity experience problems such as spending a lot in trying to get its workforce informed about the work procedures and culture of foreign countries, an aspect that is not seen in organizations that have embraced cultural diversity (Wood & Wilberger, 2015). The aspect of cultural diversity has made it easy for this organization to shift its business from offices to online markets. This is because diversity has promoted the expansion of this organization’s strategic tactics, evaluation of emerging trends, development of a market plan, as well as its approach. Therefore, with culturally diverse employees, time, expenses, and energy can be saved.

Cultural diversity challenges leadership in that some colleagues from a particular culture may prefer not to let their voices heard hence it makes it difficult for the leaders to collect everybody’s views on a certain matter. Within the Ministry of Works and Development, professionals who come from Asian countries somehow uncomfortable to share ideas, especially when they just joined the organization. Negative cultural stereotypes can negatively affect assimilation across multicultural groups (Deresky & Christopher 2015). Sometimes it becomes difficult for the leaders to control isolation that results from cultural diversity hence this limits knowledge transfer among members of the organization. It becomes difficult for leaders to make professional communication because sometimes it may be misinterpreted. Non- verbal communication in the Ministry of Works and Development is a nuanced and delicate part of cultural interaction that can sometimes offend team members who come from different countries (Klev &Levin 2016). Moreover, the whole issue of cultural diversity makes the efforts of accommodating an organization’s requirements and employment laws difficult. Leaders can also find it difficult to control their followers’ professional etiquette and the conflicting styles that people from different cultures employ when doing their tasks.

Culture is among the major issues for leadership and the way cultural aspects are managed determines the success of a leader. Cultural diversity in a way contributes to the various perceptions and definitions of leadership (Riccucci, 2018).). Leadership does not utterly depend on the leaders’ capability to impact the workforce’s visions, it is actually a way of social interaction that intends to meet the demands of culture and the contexts. In the global business world, and particularly in the Ministry of Works and Development, the need to comprehend distinctions and subtleties of leadership as it is experienced in different cultures is increasing (Martin, 2014). Even though this organization is global, it should adopt a culture which is strictly shaped by the environment and the people who run it. This is because even the executives come from different cultural groups in which they have always conducted business. Therefore, these executives ought to comprehend that particular culture within which they work and how the workforce apprehends leadership. A leader, therefore, needs to embrace bespoke leadership qualities, tailored to the distinctive culture within one’s workplace (Kearns et al., 2015). One needs to be recognized by his followers for him/her to be considered a leader and it, therefore, makes it possible to uphold that this legitimacy needs understanding and accepting the various cultures of the environment.

Leadership theories often emphasize on traits of leaders and some even try to identify behaviours individuals can adopt for them to improve leadership abilities based on different situations. When it comes to the issue of cultural diversity, leaders of the employ participative theories. Participative leadership theories claim that ultimate leadership skills are that one which considers all the workforce’s inputs into account (Northouse 2018). These leaders motivate contributions and participation from team members and they ensure at the end, the team members feel relevant and they have an urge to commit themselves to the decision-making process. In the case where women fear to express their ideas because they feel inferior, this theory encourages everyone to come out and speak their ideas. Most people from the Asian culture tend to keep their ideas to themselves when they join the Ministry of Works and Development organization but it is the role of the leaders to ensure they are given chances to speak without facing any discrimination (Uhl-Bien 2015). According to Lewin’s leadership styles, the democratic style is more effective as it entails leaders involving their followers in decision making (Li and Luo 2018). This implies before decisions are made, necessary cultural factors are discussed from different cultural backgrounds so that the decisions can favour all the followers. According to Likert, the participative leadership style allows leaders to use participative methods by involving all individuals to participate in decision making, and this enables workers from different cultures to work together at all levels. This leadership theory, therefore, helps leaders in the New Zealand Ministry of Works and Development manage workers who originate from different diversities.

Catherine achieved a lot when researching the report. She learned how the company works, the leadership skills that employers use in managing the workers as well as how activities within that organization learn. While interviewing the chairman of all the workers, she learned that as a leader, one needs to succinctly and clearly communicate organization goals, motivate the employees to work hard, learn to delegate duties to other members, be trustworthy and maintain a positive attitude towards the workers and the organization (Robertson, 2016). When it comes to cultural diversity, Catherine learned that compassion, tolerance, and respect should be the key to a well-oiled team. Moreover, she was able to suggest solutions to cultural diversity in the workplace. First, an organization should create health safety information, policies and company ethos which are easy to comprehend and clear. Secondly, they should encourage equal treatment and clarity when it comes to workers’ responsibilities. Additionally, it is important to encourage people to come out and present their views as well as including them in the decision-making process (Fernandez et al., 2015). It is therefore important to consider people with different challenges and needs that may require additional consideration such as types of chairs and access to specific buildings (Carter et al., 2016). Therefore, one needs to be recognized by his followers for him/her to be considered a leader and it, therefore, makes it possible to uphold that this legitimacy needs understanding and accepting the various cultures of the environment.

While doing her research, Catherine had to go to the New Zealand of Ministry Works and Development, interact with workers in that organization as well as gather enough information on the issue of cultural diversity. This exercise improved her self- awareness and identify her potentials in that before conducting that research, she never knew that she was capable of approaching strangers and talking to them freely. It also boosted her self confidence in that she just had to take the risk of interacting with people who she didn’t quite know how they would react to her questions (Wagner, 2016). Conducting the research helped sharpen her creativity in that she was now aware of how leaders in organizations work, their responsibilities and how they are expected to handle problems within the organization. It also enabled her to develop her emotional intelligence in that one is able to recognize the co-workers’ emotions hence labelling them properly and easily adapting to workplace environments (Gergely, 2018). By conducting the research, Catherine was able to learn new skills, improve the old ones and even acquire more knowledge to help improve her career. During the process of researching, Catherine encountered problems for example when some of the interviewees were not giving relevant information and others would even ignore her due to their busy schedule. She, therefore, experienced difficulty in interacting with some workers hence she did not gather a lot of information (Medhat et al., 2017). However, when doing the project, she did not use a wide variety of materials while doing research. She read a limited number of journals and books, and this may have limited her research. Moreover, she ran out of time and risked submitting the project late. Given the project again, Catherine would effectively plan her time, by allocating enough time to each step and collect many textbooks and journals covering the same topic to combine with data from the website and write a detailed report.

In conclusion, by working on the project, Catherine understood that organizations are bound to face challenges even as they try to thrive. Cultural diversity is one of the challenges the Ministry Works and Development faces and it should be carefully managed so as the smoothen interactions between the members of this organization (Greene & Kirton, 2015). The most successful organizations are those which not only recognize the distinctions that exist among different cultures but also teaches their leaders to rule in ways that establish an appreciation for and understanding of different cultures (Barak 2016). Completing a whole report within a specified period was an overwhelming experience that made me learn a lot of things including the importance of timekeeping, leadership skills, how to handle people from various diversity and most importantly how to ensure maximum production of an organization. Commitment, creative thinking, honesty, passion, integrity, empathy, and innovation are key traits that leaders require to secure successful outcomes. Therefore, handling the project was a thrilling experience full of lessons.

References

Barak, M. E. M. (2016). Managing diversity: Toward a globally inclusive workplace. Sage Publications.

Carter, D. F., Ro, H. K., Alcott, B., & Lattuca, L. R. (2016). Co-curricular connections: The role of undergraduate research experiences in promoting engineering students’ communication, teamwork, and leadership skills. Research in Higher Education, 57(3), 363-393.

Cremades, J. G., & Mugford, A. (2018). Multicultural Diversity and Issues of Difference EMILY A. ROPER AND LESLEE A. FISHER. In Sport, Exercise, and Performance Psychology(pp. 81-92). Routledge.

Deresky, H. & Christopher, E. (2015). International management: Managing cultural diversity. Pearson Higher Education AU.

Fernandez, C. S., Noble, C. C., Jensen, E., & Steffen, D. (2015). Moving the needle: A retrospective pre-and post-analysis of improving perceived abilities across 20 leadership skills. Maternal and Child Health Journal, 19(2), 343-352.

Gergely, G. (2018). The social construction of the subjective self: The role of affect-mirroring, markedness, and ostensive communication in self-development. In Developmental science and psychoanalysis (pp. 45-88). Routledge.

Greene, A. M., & Kirton, G. (2015). The dynamics of managing diversity: A critical approach. Routledge.

Gröschl, S. (2016). Diversity Management between ‘Myth and Ceremony’and Strategic Economic Rationale–Theoretical Perspectives and Empirical Evidence from Germany Inéz Labucay. In Diversity in the Workplace (pp. 167-188). Routledge.

Kearns, K. P., Livingston, J., Scherer, S., & McShane, L. (2015). Leadership skills as construed by nonprofit chief executives. Leadership & Organization Development Journal, 36(6), 712-727.

Klev, R., & Levin, M. (2016). Participative transformation: Learning and development in practising change. Routledge.

Li, G., Liu, H., & Luo, Y. (2018). Directive versus participative leadership: Dispositional antecedents and team consequences. Journal of Occupational and Organizational Psychology, 91(3), 645-664.

Lichtenstein, B. B., Uhl-Bien, M., Marion, R., Seers, A., Orton, J. D., & Schreiber, C. (2006). Complexity leadership theory: An interactive perspective on leading in complex adaptive systems.

Martin, G. C. (2014). The effects of cultural diversity in the workplace. Journal of Diversity Management (Online), 9(2), 89.

Medhat, A. M., Taleb, T., Elmangoush, A., Carella, G. A., Covaci, S., & Magedanz, T. (2017). Service function chaining in next generation networks: State of the art and research challenges. IEEE Communications Magazine, 55(2), 216-223.

Northouse, P. G. (2018). Leadership: Theory and practice. Sage publications.

Riccucci, N. (2018). Managing Diversity In Public Sector Workforces: Essentials Of Public Policy And Administration Series. Routledge..

Robertson, J. (2016). Coaching leadership: Building educational leadership capacity through partnership. New Zealand Council for Educational Research. PO Box 3237, Wellington 6140 New Zealand.

Rodríguez-Pose, A., & Hardy, D. (2015). Cultural diversity and entrepreneurship in England and Wales. Environment and Planning A, 47(2), 392-411.

Wagner, W. E. (2016). Leadership for a better world: Understanding the social change model of leadership development. John Wiley & Sons.

Wood, V. R., & Wilberger, J. S. (2015). Globalization, cultural diversity and organizational commitment: Theoretical underpinnings. World, 6(2), 154-171.

Transaction Cost Theory 1 Transaction Cost Theory 8 DOES TRANSACTION COST THEORY

Transaction Cost Theory 1

Transaction Cost Theory 8

DOES TRANSACTION COST THEORY PROVIDE VALUABLE INSIGHT INTO UNDERSTANDING TRENDS IN MODERN CORPORATE ORGANIZATION?

Name

Course

Professor

University

State

Date

Does Transaction Cost Theory Provide Valuable Insight Into Understanding Trends In Modern Corporate Organization?

Introduction

Foreign intervention forms part of the major decisions faced by companies today when coming up with an internationalization strategy. There are a number of theories that are employed when companies contemplate on bridging this gap. However, the most sort after theory is the theory of transaction costs (TCT) (Martins, et al., 2010, p.5). Transaction cost theory entails a governance framework that focuses on external or otherwise internal transactions other than foreign contractual relationships that exist outside the firm. The principle behind the theory deems that extra costs will be incurred if at all foreign help is to be employed to run a particular business. Some common costs expected to be incurred entail, research information, policy enforcement, and bargaining sureties. Research costs may be incurred when the company needs to identify credible and potential suppliers, whereas bargain sureties are employed when purchase decisions are made. Policy costs involve activities that are coined to improve and monitor the quality of a firm’s commodities or service packages. A company’s hierarchal organization often determines the grasp it has over the available transactions (Madhok 2002, p.535). Consequently, the firm’s management is obligated to internalize the day to day relations so as to manage and control unnecessary costs that may prompt the firm to undergo unexpected risks. A typical example that best explains this concept is a beer house that owns a number of suppliers, breweries and public houses. Such a company is devoid of negotiation complications among external retailers and suppliers. The drastic progression of globalization has prompted companies to resort to international transactions. The existing business cycles and the unprecedented local recession risks are exposing companies to internationalization. Consequently, companies are opting to involve foreign ties to expand their operations. Transaction costs theory is fundamental in the analysis of economic strategies in modern organizations or firms.

Trends in Modern Corporate Companies

Companies are looking for ways to expand their dominance in the economic markets. The increasing number of multi-national companies and ‘born-global firms’ best demonstrate this development. Foreign trade it today a significant source of revenue. Organizations can no longer rely entirely on their home markets due to the risks of trade instabilities. The trending prerequisite today that has prevalently plagued these enterprises is the manner in which they can venture into the global market (Khosrow 2010). A well thought-out entry mode is what will determine the success of a given company. Modern-day trade liberalization has made it trivial for companies to analyze the factors that influence their decisions. The dynamism of the internal and external conditions makes it particularly strenuous for the companies to pinpoint how certain parameters will influence their economic directionality.

Virtual Corporation

Among the numerous trends that have flagged the economic market includes a virtual corporation. This trend refers to the linkage of independent companies by a technological platform. This platform is often used to exchange ideas and conduct transactions. A virtual space enables companies to adapt to the changing dynamics of the economic world. Some of the important elements that constitute the virtual corporation include opportunism, trust, technology, and the lack of border constraints. The existence of a virtual corporation enables a firm to conduct its daily transaction without a centralized working space. Vertical hierarchies and horizontal integration may also not be available. Companies in this system rely on the competency of other established entrepreneurs. A typical example of a company that has taken this trend into effect is the Cisco Systems. Cisco benefits from the use of other manufacturing firms to generate its commodities.

Outsourcing

Outsourcing has been in existence for a long time, however, the trend is constantly evolving with the economic progressions. Today, companies outsource information technology, customer service, engineering services, marketing channels et cetera. Traditionally, this system is viewed as a way of cutting a company’s costs. Another factor that makes outsourcing a common go-to strategy is the danger of economic recession. For example, the 2007 recession caused a great blow to the economic community. As a result of this phenomenon, most companies had to downsize. This strategy, however, made the companies sort after non-permanent workers who would not require the companies’ benefits packages.

Global merger structuring

Among the obvious challenges that crop up during mergers is the integration of the different cultures involved across the companies involved. A poorly handled merger can lead to detrimental consequences. An example of companies that have undergone a merger is the Pharmacia and Pfizer. The merger took on the necessary strategies in order to ensure that the two company cultures were properly integrated. For example, Pfizer appointed 14 groups which analyzed the warehousing activities, logistics, finances, quality control, human resource, et cetera. The two companies wanted to adopt the diverging ideas of the workers from the individual firms.

Reengineering the structure of the organization

As is typical of any business, constant re-evaluation is necessary. The process of re-evaluation entails assessing the optimization of the company. Today, this form of re-evaluation has been projected into re-engineering strategies. Re-engineering is accomplished by establishing a complete make-over of the business’ structure in order to maximize economic efficiency. The aim is to identify and eventually discard any outdated practices. In doing this, the company is able to achieve product quality, control costs, and to maximize the overall productivity.

Variant Modes of Entry

The mode of entry into the global market platform is divergent for various companies. These modes are particularly dependent on the firm’s operations and specificities. Entry mode assessment can be determined by analyzing a number of theories. Managers can base their entry decisions by evaluating their resource pool, location, processes involved among other internalized parameters. Location factors essentially entail the macroeconomic elements that encompass the institution such as consumer confidence, inflation, interest rates and employment (Meyer 2004, p.259). The term processes in this context stand for the idiosyncratic nature of the industry or firm. Companies used to indulge in economic endeavors based on the success stories of other similar institutions. However, the practice was later deemed ineffective. Although some firms benefited from these methodologies, it is undeniably true that the success was out of sheer luck. One factor that remains as a constant across every company, however, is the determinacy of the profit margin (Dabrowska 2014, p. 51). Profits are the driving factors of any economic activity. Unrealizable background information and opportunism often results to poor decision making strategies. Decisions that are made under such inclinations more often than not do not reflect the actual dynamics of the global market economy. A slight miscalculation in the parameters involved in financial analysis can lead to serious losses. This types or errors are commonly refeed to as behavioral uncertainties (Williamson 1985, p.80). These errors can be avoided when the transaction cost concept is incorporated in the analytical process. The theory of transaction costs remains to be a critical tool in assessing economic strategies. This is so because, the economic arena cannot be efficiently comprehended without the complete analysis of the problems and dynamics of the global market (Coase 1988, p. 6).

Internal Transaction Dynamics

A company can work to ensure that the necessary transaction costs take place within the company by their own personnel. This can be achieved by running the procedures across the internal departmental units or sections. The top managers and directors should not be bounded by the concepts of opportunism but rather rationality. Basing the company’s operations on these concepts can serve as motivation to handling big decisions. There are three basic variables that should be evaluated when determining economic resolutions. The three variables include certainty, frequency, and asset specificity. Asset specificity encompasses the benefits accrued by the manager, whereas frequency demonstrates the endemic nature of the proposed course of action within the organizational culture. Certainty, on the other hand, provides assurance. The explicit analysis of the above-mentioned variables will essentially determine the level of control that a senior management can have. TCT identifies phenomena such as organization memory and corporate culture. These phenomena are used in the decision-making process. A company’s personnel internal conflicts are brought about by the variant cultures, ideas and goals. It is human nature to renegade contracts, shift blame and shirk responsibilities. Some of these actions generally create a negative working environment. TCT focuses on these conflicts and shortcoming, consequently devising mechanisms coined to alleviate them by rearranging the governance structure, economic incentives and the risks involved. A restructured governance typically entails simple incentives that encourage the workers to be productive. The success of the structured units is contingent on the industrial processes of the company. Williamson (1991, p.9) deems that economic organization entails the re-alignment of the company’s transactions. This is essentially what TCT achieves, thus making it a significant tool in economic analysis.

Importance and applications of Transaction Cost Theory

Transactions costs are used since human cognition is limited. The introduction of an empirical system to evaluate the parameters that manipulate the economic trends is effective. The use of the transaction cost theory, therefore, enables the evaluators to introduce bounded constraints that seek to avert the inconsistencies of human beings. As mentioned earlier transaction costs promote the use of minimal costs in a business. In this sense, companies are prone to expand economically. Small-scale business and the medium-sized ventures are often thought to be among the efficient solutions to economic challenges. The process of stimulating the entrepreneurial activities entail the use of flexible strategies, high response levels, and flexibility. The hierarchal level of medium-sized companies demonstrates how certain parameters are important in economic growth. The restrictive nature of small businesses often results in economic progress and effectiveness. The theory of transactions costs mostly emphasizes these parameters. The key principle championing for reduced costs, an aspect that small businesses seem to have adopted rather successfully. There are a lot of institutional factors that dampen the progression of a company’s economic status. Coase (1998) posits that institutional factors are the key influencers of economic stability. Some of these factors form great barriers to the economic sector. It is, therefore, necessary to ensure that they are avoided at all costs. The transaction costs concepts enable managers to take these factors into consideration when managing the companies. As such, the tool is considered crucial in establishing economic shields against unforeseen challenges. The advancement of the transaction cost concepts translates to the successful growth of business across the globe.

Controversial Claims about Transaction Costs

The incorporation of the Transaction cost theory in a firm often leads to luxurious benefits (Williamson 1996, p.55). However, it is undeniable that radical actions and poor evaluation strategies can lead to detrimental consequences. For instance, opportunistic behaviors can otherwise lead to tragic economic results. A lull in the economic competencies of an organization is set to discourage potential investors. It is necessary therefore that businesses organize their departmental operations in order to avoid the repercussions of bounded rationality. Opportunism should also be set to a minimum if not entirely avoided. Others deem that TCT provokes the under socialization of individuals, promotes ad hoc and causes confusion. What the skeptics mean by this is that the theory ignores the actions and motivations that are embodied in the social environment. Critics argue that it prevents the workers or organization’s personnel to actively provide their preferences (Ghoshal and Moran 1996, p.13). Contrary to the illumination of the above-mentioned accounts, it is indisputable that transaction costs remain an important aspect of economic evaluation.

Conclusion

The transaction cost theory is fundamental in the analysis of economic strategies. It is impossible for an economic evaluation to be made without a proper diagnosis of the problems involved. As companies venture into the global market, a proper analysis should be done. The different modes of entry in the competitive economy require the setup of an effective economic strategy. The overall success of an organization is dependent on the workings of its internal mechanisms. Ultimately, the managers are tasked with the decision making process. The costs structures, administrative control and policy enforcement are all crucial factors that actively play an important role in the decision making process.

References

Coase, R., (1988), The Firm, the Market and the Law, University of Chicago Press.

Dabrowska, K. M., 2014. Transaction Cost Theory- Explaining Entry Mode Choices. Poznań University of Economics Review, 14(1), pp. 48-58.

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21 Running head: 17 INSTALLATION OF SAAS SYSTEM 16 Running head: INSTALLATION

21

Running head: 17

INSTALLATION OF SAAS SYSTEM 16

Running head: INSTALLATION OF SAAS SYSTEM 1

Installation of SaaS System

Name

Institutional Affiliation

Date of Submission

Installation of SaaS System

Introduction

In the modern business environment, it is critical that business organization invest in technologies that improve efficiency. Organization needs to change and adopt to the current business needs, one of the forces that causes change is shifts in business environment or organization. Technology have been found to be a viable tool in transforming organizations. As part of improving operational efficiency, Talia Fashions Online can implement SaaS (Software as a Service) system to facilitate the flow of information between different levels of management and provide real-time data. At the core of the project, Talia Fashions Online aims to solve the problem of slow flow of information from its many stores located in 16 countries. Being is the fashion industry, human personnel, in terms of designers, promoters, marketers and personnel along the delivery line must have proper coordination to ensure that products reach the right customers, order are processed accurately and delivery is prompt (Rom & Rohde, 2006). With stores located in different parts of the globe, central management of human personnel have been a problem. A key to the realization of the organization goals is ensuring that employee deliver as planned, thus, implementation process took into consideration the ease of integration of technology (Azevedo, Romão & Rebelo, 2012). The management needs to have an accurate map of all its workforce, their assignments, and progress.

Company’s Past System Analysis

An organization depends on various force for its success, one of the most critical elements to the success of an organization is the human factor. The effectiveness of employees is directly related to the performance of human resource department (Stojanov, Dobrilovic & Stojanov, 2018). Organization can incorporate diversity into the management of resources by employing enterprise human resource management frameworks such as SaaS. Talia relies on an outdated information network. Communication between department, from management, and collection of data from multiple business points is slowed down by the in-house IT structure, this call for a change. By updating its technology, Talia Fashions will be in a position to handles the increase workforce population and transactions on a daily business.

The capabilities of cloud computing remain a lucrative option for managers at Talia Fashions. Currently, there is good communication at departmental and store level. However, recent expansion leading to satellite stores located in different countries pose as a challenge to central management. Often, management have to delay their decision in wait for information to come in from distant location. This has made making real-time decision impossible. Introducing cloud computing will allow the managers to know exactly the characteristics of their workforce, whether their need to absorb more employee or cut down on employee. The management can also assess the effectiveness of its current employees while also responding to their requests and concerns in real time. SaaS is a suitable solution for the case scenario. Existing stores have in-house communication system, upgrading the existing framework to enable data processing and sharing in real time can be a huge boost to the management capabilities.

Current System of Analysis

The human resource depends on communication of higher levels to effectively complete their tasks. They rely on the management to outline business direction. On the other hand, data generated at each by the personnel is of critical importance to the management. However, the current operating procedures shows a lot of redundancy, and in most cases ineffective communication since data cannot be generated and shared in real time. The human reourece department on rely on data gathered from different points to assess the effectiveness of the workflow. Multiple employee are tasked with the responsbility of generating data for management use. The existing CRM and ERP can allow for easy integration with cloud computing capabilities. The management will be able to access additional functions such analysis and visualization tools (Chan, 2008). The move will allow management positions to be informed of their workforce activities at all times, make hiring decision, job assignment, and general direction depending on the information at hand.

The traditional in-house computation was reasonable for a small sized business model, however, with rapid expansion and increasing workforce, the organization must adopt to more powerful technologies. Communication from both the employee and management end affects the effectiveness of service delivery. Every employee must stay updated and aligned with organization agenda. Since the management rely on information entered from distant location, this information need to reach the top management in real time. The different levels of management have an impact on how the data flow. In addition, multiple locations mean that more data will be coming in any given time. The data must be processed efficiently and delivered to the right people. Thus, a SaaS system is an effective method to help manage the new scope of business.

Managing Human Resources and Services

Previous studies note that organization employees are critical to the success of the organization, in a work population that employees are satisfied with their positions; it is possible to achieve the best performance levels. Operation Managers acknowledge a satisfied workforce translates into a good customer satisfaction, for long, academicians established that there is close relationship between organizational practices in human resource management and human motivation. In the development of effective workforce management, there is need to consider psychological factors associated with participation and motivation. MARS and CANOE models find common use in the design of appropriate employee management style.

Application of SaaS in Human Resource Management

In modern employee population, often, there is a high representation of diversity and the management must take into account differences among people. Current workforce and customers does not necessarily depend on the location of the business premises, thus, a good management approach should take into account the global access to employees without violating the diversity it represents (Parthasarathy, 2008). Given the nature of workforce, SaaS allows an organization to make enjoy the benefits that comes with the diversity. SaaS (Software as a Service) is a technological framework that increases efficiency of workforce management. A workforce that spans the entire globe will depend on the easy of employee control.

SaaS system provides a means of better management since it takes into consideration employee diversity as a well as easy of control. A properly designed SaaS package focus on the needs of the organization in terms of employee personal details as well as the analysis of the data to give valuable information to the organization. A hotel business position at the CBD have a large market, thus, the management of workforce is of critical importance. A challenge that most organizations face is how to access the potential employees recruit the right people and manage human resource affairs with ease. SaaS is a perfect answer to the employee management problem, SaaS is able to manage employee affairs at all points (Müller, Bosse & Turowski, 2017). SaaS allows employees to update specific information regarding their activities, this include job description, filling of complaints and asking for promotion. The management can also access such information with much ease; most of the information processed with SaaS is real time thus more flexible and respond to actual needs within allowable time. SaaS allows the management to access information in multiple approaches irrespective of the level of management or type of data (Mahsa, 2013). This is possible through central data management options. Besides the ease of management that comes with the technology, the organization also enjoys better cost management. SaaS is more cost effective than other forms of employee management options. A cloud based approach gives the employees and opportunity to take part in management of their affair. Since employee participation is critical to the overall organization performance, their comfort when accessing and using organization resources adds to delivery of services.

Justification of Applying SaaS in Human Resource Management based on CANOE & MARS Models

Understanding employee personal attributes when designing management framework is critical for the success of the program. Two of the methods applied in the management of the CANOE and MARS approach. CANOE approach classify personal traits in five major domains. The five major traits as defined by Costa & McCrae (1992) emerged as one the most applicable methods of understanding the relationship between personal traits and contribution at work. These factors include agreeableness, openness, extraversion, neuroticism and conscientiousness

Each of these concepts relates to the application of SaaS as a good management tool. Conscientiousness is being disciplined and loyal to the organization activities. Employees are in a better position to display such loyalty and drive to achievement if the organization is open. With the help of SaaS, the human will be on constant contact with the employees thus able to relay organization expectation of how they should act, this works towards a disciplined and organized achievement as suggested by the CANOE model. The concept of agreeableness demands being sympathetic and corporative, organizations can create a uniform platform for cooperation through shared expectations and aims. When designing a system to take into account employee personal issues, it is critical to include concepts of neuroticism, openness and extraversion. Traditional systems take little note of these concepts, thus, the use of Enterprise Human Resource management tools such as SaaS will help in achievement of organization goals since its design can take into account the CANOE model concepts of employee behaviors. In organizations that depends on employee behavior, such as hotel management, it is critical for the management to take into consideration the employee behavioral characteristics.

Research reveal that personality and performance are intractably connected, while individual display diversity in terms of relationship with work, however, certain characteristics within the environment can shape employee performance. It is recommended that organization should take such characteristics in the design of employee management framework. While traditional management employee management tools tends to be stagnant, modern employee management approaches based on technology consider employment environment dynamics. SaaS system is able to respond employee needs, most importantly, with respect to elements defined in the CANOE model (Parthasarathy, 2008). Generally, an employee population who believe that organization management is close to them feel the need to perform as expected. Since employee population is not uniform, but diverse, it is much simpler to include specific elements within the management tool to take into account the diversity manifested. For instance, an organization that employs people from different parts of the world might need design features that take into account the diverse income taxation systems, language, communication needs, work policies and documentation approaches. SaaS allows organizations to be responsive to each employees needs as documented in their profile. Since people respond differently under different conditions, human resource personnel often use this traits to place people in respective working environments. It is this personality traits that underline individual performance and the overall organizational performance characteristics.

A second approach that works in the management of the MARS, the model seek to model employee management initiatives, as a result of the external and internal factors, the acronym define elements related to motivation, abilities, role perception and situational factors that have significant influence on management. The four elements mark major behavioral issues that individuals may express in work situation. The model can apply in different situations, but often apply in industrial cases where employee management procedure have a direct influence on the outcome of the business activities, one of such environments is hotel and management situations. For instance, an employee population that understands their role and have enough resources to ensure the success of organization objectives translates into good performance. On the other hand, employee population with insufficient knowledge of their roles or lack the necessary skills to perform their duties will lead to organization downfall. Therefore, having an employee management tool that takes into account such skills aid in success will go a long way in guaranteeing success. SaaS system allows for the proper management of human resources.

Employee motivation is the first line of proper workforce management, it defines the internal forces that promotes employees to take part organizational activities, it entails the general direction, endurance and intensity that promotes good organization behavior. Direction is the focus on goal, intensity define the efforts dedicated to the work while persistence is the amount of time dedicated to the organizational aims. A properly working SaaS can be effective in promoting motivation since the independence management approach possible through the multi-platforms offered allows the management to take into account the independent cases scenarios of each employee.

Employee ability is a concept critical to good workforce management, this is the potential of an employee to complete a task successfully. It embraces factors such as aptitudes, learned skills, competencies and personal job-fit. To ensure that the employee population have the best set of abilities, the human resources must take into consideration such factors right from the recruitment stages. SaaS system allows the management to target and employ people certain set of skills that will be beneficial to the organization. Since SaaS allows employs to independently take part in the recruitment, learn about the sets of skills that the organization desires and have a global outreach, the human resource management have access to a larger pool of employees to further its objectives. Role-perception is a concept well-defined in the MARS, it is set of behaviors necessary for the achievement of the desired outcomes. Employees must be able to understand their respective tasks, associated importance to the organization, set of behavioral preferences and clarity of participation. Since SaaS empower organizations to deal with each employee at ease, it can promote better management of the workforce.

Since modern workforce consists of people from different people, it is essential that the management take into account the key elements that may affect employee behavioral characteristics. Since many organizations depend on employee diverse characteristics, it is important to take into account the unique employee characteristics, a SaaS system allows human resource management to handles the independence of employees. However, the design of SaaS must take into account the MARS and CANOE concepts of human behaviors.

Managing People System Recommendations

In every organization, there are multiple resources that aid the success of the organization, one of the key resource is the workforce. If an employee in an organization appreciate the kind of management they receive and access to information, the feel motivated and the organization can realize a lot of gains (Azevedo, Romão & Rebelo, 2012). It could be challenging to give the employee all the resource that they need, however, with the help technology, workforce management is easier (Amini & Ghaffari, 2015). Enterprise Resource Planning comes in to solve problems that could not be solved through the traditional approaches to management, more specifically, it is important in the management of human resource. The recruitment process is much easier if performed electronically that manually.

Benefits of Enterprise Solutions

Enterprise solutions consist of integrated business management software application that allows an organization to track and manage information that is important for its performance. The modules make it easier for the management to coordinate the process and outcome of each department, including Human Resource. One of the key benefits of ER is automation which frees up management tasks (Azevedo, Romão & Rebelo, 2012). A major role of HR department in most organization is data entry and tracking of activities that concern the workforce. HR often find is difficult to develop data in the absence of ERP since it depends on data pooled from other departments, this may also be time consuming. Once of ERP module is in place, it is much easier access remote data and simultaneously generate reports. Some HR modules transfer the role of data entry from the HR to the employees, thus, it is much easier to perform HR functions with the aid of an efficient HR module (Azevedo, Romão & Rebelo, 2012).

Another advantage of ER is enhanced sharing of information and collaboration among departments. Data generated by the HR department will eventually be useful in another department, without the assistance of ER, it means that each department must manually request for information and compile them into the report, the process is time-consuming and may introduce some errors. However, when there an ER in place, all information is stored in a central place, information sharing is much easier since any department can access the pool of information. This makes it easier for teams to work as a unit (Azevedo, Romão & Rebelo, 2012). ER also helps management to gains clear picture of the status of the organization. It is demanding for management to do a regular assessment of the workforce and resources especially when the success of organization critically relies on daily activities of the workforce. HR needs to know who performs, who is on holiday and who is responsible for a given task. Performing all this operation without the aid of a computer is challenging. However, ER module allows management to instantly know overtime worked, availability of employees and other issues related to the performance of human resource.

An advantage of a good ER is that information is always up-to-date. As stated, certain ER such as SaaS allows both management and the employees to instantly contribute to the information pool. Contrary the to the traditional process that requires HR to update employee details after some time, ER allows employees and management to update the database instantly, thus, information available in an ER system is always current, this help in timely decision making. In the absence of ER, an organization may need more personnel to keep track of the employees, in addition, the manual process will also require consumable resources, and the total cost is too expensive for the organization (Azevedo, Romão & Rebelo, 2012). ER has the ability to reduce costs associated with human resource management. Because the modules provide the management with an integrated solution, a single tool can take over work that otherwise would need ten people to perform, the cost reducing the effect of ER is a factor that promotes its implementation the in most organization. Organization ends up paying less will improving its efficiency. In essence, ER module improves HR functionality, in all businesses, the performance of the human resource is a critical determinant of the success or failure, an organization with good HR practices tend to prosper (Azevedo, Romão & Rebelo, 2012). ER makes it easier to advertise for jobs and capture the attention of the possible recruits, it can also go ahead to ranks the applicant based on qualification areas. All this information is instantly available to all people within the organization.

Proposed IT solution

The organization should install an information system that allows for instant update, information security, and accessibility at all time, thus, SaaS computing is the best option for the company. With SaaS, the organization does not need to purchase extra software or maintain a standing IT staff, the vendor provides all the software and maintenance works depending on the module bought. Everything that the HR requires, from data entry, security and maintenance come in a single package (Carraro, 2006). Since there is nothing new to buy, getting started is much easier, SaaS systems allow an organization to migrate smoothly from in-house computing to cloud computing without costly modification to the computing facilities. Since the organization does not incur additional expenditure, the efficiency that comes with SaaS system allows for first payback. A cloud hosted HR is more efficient and allows for easier operations (Carraro, 2006). In addition, since the vendor introduces new features every month, the software grows with organization needs. The value of the installation increases over its lifetime. SaaS also has the advantage of accessibility, HR managers can access information on personnel from anywhere on the planet, they can also post important information such as jobs, new schedules, recruitment plans, promotion and another kind of information concerning the employees. A SaaS system proves to be the most effective way of hiring new employees (Carraro, 2006). Management can easily post vacancies and the requirements, potential candidates can go ahead and visit the site and fill in the application form. It is possible to draw in qualified employees from all over the world with the aid a SaaS system.

Proposed Solution: Cloud Computation based on SaaS

Business needs at Talia Fashions demand installation of an information that permits real-time update of information from multiple points, secure, easily accessible, and reliable. Thus, Software as a Service (SaaS) system is the best option. Talia Fashions has a wide market base, posting agents in all locations and tasking employees with all data-capturing work slows down business flow. In addition, the organization needs to keep the cost at a minimum level while maintaining business a high efficiency. Since the organization is already into technology and have technologically well-adjusted employees, a SaaS system based on this infrastructure will meet the organization needs.

Installing a SaaS system will make use of current management infrastructure; however, there will be a need to improve the data processing points and data-capturing end through vendor-provided services. Based on the nature of vendor agreement, Talia Fashions can benefit from data-capturing devices provided by the vendor, which include phones, tablets, biometrics, and computers (Link & Back, 2015). These devices permit easy management of employees and clients. Vendors often provide statistical software, data management software and security platform that can support the organization. For a smooth flow of information, cloud services are mandatory. SaaS system comes with data availability components such as the internet, integration brokers, synchronization, routing rules, security rules, and transformation lines (Carraro, 2006). All these are available in a vendor-supported information platform.

Talia Fashions is also interested in the management of its workforce, but organizations often have limited ability to develop their own human resource software-support, thus, vendor-support will be a critical step towards realizing a better management system (Palak, 013). The nature of the organization suggests that installation of a SaaS system is highly feasible.

How SaaS Meets Organization Requirements.

Talia Fashion have an existing computation system that is easily upgradeable; this will form the background for the new phase. A background in computation technology will also be important to personnel training and acceptance. Talia Fashions have a wide market, however, it does not have the financial ability to keep a standing employee base, thus, the organization recruit in demand. A challenge with the organization is how to reach out to the potential employee within limited timelines in wide geographical space also pose a challenge. The organization also have the problem of how to manage employees stationed in offshore stations. SaaS is the answer to the organization concern (Jacobs, 2005). With an effective SaaS system, the management does not have to maintain a standing employee population, SaaS is able to reach out to the needed employee irrespective of distance, the module can also include features that allow possible recruits to outline their qualification and thereafter ranks the employee based on the best qualified (Carraro, 2006). The application can do all these functions without additional costs such as traveling to interview applicants or placing advertisements over other forms of media. After the recruitment of the employees, the SaaS system also provides a way of managing employee issues irrespective of their location (Safari, Safari & Hasanzadeh, 2015). Cloud computing allows for data accessibility through the globe, the management can stay informed activities happening in a different continent without complex reporting process, this is possible through the central data management approach (Seethamraju, 2014). In addition, the approach is less costly and have a shorter payback time, thus, it does commit the immense amount of organization resource (Carraro, 2006). SaaS system also causes minimal interference to the organization standard operating procedure, especially for an organization that is already into computing, thus, Talia Fashions Consulting will find it’s easy adapting to cloud computing (Halpin, 2009). HR modules focus on tracking workforce-related functions, planning, administration, hiring and payroll and development of a function HR department (Wang, 2013). In a similar manner to standard operating procedures, job vacancies, news, tracking benefits and work-hours is much easier if all these functionalities are part of one HR management module. By looking into these data, the management can decide what skills are needed in a new recruit and select the best person to fill the gap.

Implementation Steps

Implementing an efficient SaaS requires careful consideration. The first step in the implementation of SaaS is understanding business needs (Palak Makhija, 2013). This includes how the application will assist the organization to realize its goals. This is followed by consulting with teams likely to take on the task. After such consultation, the implementation process proceeds to the design of suitable infrastructure to support the change, these include data center, network equipment, hardware, software and backup options (Palak Makhija, 2013). The next step is procuring the necessary resources and finally installing deploying the system. Monitoring is important to ensure that upgrade performs accordingly (Palak Makhija, 2013).

Communication Components

Hardware components

Data capture devices (phones, tablets, biometrics, and computers)

Networking and Communication (Cloud, CPU, and Vendor-Provided Services)

Display (phones, tablets, biometrics, and computers)

Sever

Rooters/Internet Providers

Storage/Databases/Cloud

Security

Regulatory Controls

Identity and Federation

Entitlement

Authentication and Single Sign-on

Monitoring

Authorization and Role-based Access Control

Encryption

Applications and Operation

Workflow

Exception Handling

Data Synchronization

Orchestration

Metadata Services

Monitoring and Alerting

Performance and Availability

Provisioning

Backup and Restore

Configuration and Customization

Metering and

Metadata Execution Engine

Indicators

Architectural Diagram

TALIA FASHION MANAGEMENT

TALIA FASHION MANAGEMENT

TALIA FASHION DATA CAPTURE

TALIA FASHION DATA CAPTURE

(Courtesy of Software Advice™, Inc)

The diagram below shows cost comparison between SaaS and On-Premise technology. The figure shows that SaaS comes at a lower cost over the five-year span.

Reducing Employee Resistance

To reduce employee resistance, implementation project observed the Lewis model of business change. Lewis model seeks to create change by making human resource susceptible to change (Shirey, 2013). Prior to the implementation, it important to carry out an investigation to determine the feasibility of the project, this is followed actual implementation and initial test (Palak, 2013). The next stage is evaluation of the project implementation success (Carraro, 2006). However, the successful introduction of change depends on human factors, Lewis model is applicable in reducing personnel resistance to change. It begins by educating the employees on the importance of change, this can be achieved through training and management support. With the help of organization management support, employees will be susceptible to change. The monitoring stage will involve regular checks to ensure that the introduced technology is used as planned, this includes regular checks and support by the IT department. Monitoring ensures that an organization’s human resource support the change.

References

Ahituv, N., Neumann, S., & Zviran, M. 2002. A system development methodology for ERP systems. Journal of Computer Information System. vol42 no3, pp56–67.

Al-Mashari, M. 2001. Process orientation through enterprise resource planning (ERP): A review of critical issues. Knowledge. Process Management. vol8 no3, pp175–185.

Azevedo, P., Romão, M., & Rebelo, E. (2012). Advantages, Limitations, and Solutions in the Use of ERP Systems (Enterprise Resource Planning) – A Case Study in the Hospitality Industry. Procedia Technology, 5, 264-272. http://dx.doi.org/10.1016/j.protcy.2012.09.029

Amini, E., & Ghaffari, A. (2015). A New Architecture for Enterprise Resource Planning Systemsbased on a Combination of Event-Based Software Architecture and Service-Oriented Architecture. Indian Journal Of Science And Technology, 8(2), 108. doi: 10.17485/ijst/2015/v8i2/57773

Bernroider, N., & Koch, S. 2001. ERP selection process in midsize and large organizations. Business Process Management Journal. vol7 no3, pp251–257.

Bedell, M., Floyd, B., Nicols, K., & Ellis, R. (2007). Enterprise Resource Planning Software in the Human Resource Classroom. Journal Of Management Education, 31(1), 43-63. doi: 10.1177/1052562905282883Barker, T. & Frolick, N. 2003. ERP implementation failure: A case study. Information System. Management. vol20 no4, pp43–49.

Bhardwaj, S., Leenam J., & Sandeep, J. 2010. Cloud computing: A study of infrastructure as a service. International Journal of Engineering and Information Technology. vol2 no1, pp60–63.

Bradley, J. 2008. Management based critical success factors in the implementation of enterprise resource planning systems. International Journal of Information System. vol9 no3, pp175–200.

Brown, C. & Vessey, I. 2003. Managing the next wave of Enterprise Systems: Leveraging Lessons from ERP. MIS Quart. Executive. vol2 no1, pp65–77.

Buckhout, S., Frey E., & Nemec, J. 2009. Making ERP Succeed: Turning fear into promise. IEEE Engineering Management Review. vol19 no1, pp16–123.

Carraro, G. (2006). Software as a Service (SaaS): An Enterprise Perspective. Msdn.microsoft.com. Retrieved 12 July 2017, from https://msdn.microsoft.com/en-us/library/aa905332.aspx

Chan, K. 2008. Prioritization the critical success factors for ERP implementation project: Production postponement perspective. Industry. Engin. Res. vol5 no2, pp11–23.

El-Amrani, R., Rowe, F., & Geffroy-Maronnat, B. 2006. The effects of enterprise resource planning implementation strategy on cross-functionality. Information System Resource. vol16 no1, pp79–104.

Halpin, T. (2009). Enterprise, Business-Process and Information Systems Modeling. Berlin: Springer.

Jacobs, D. (2005). Enterprise software as service. Queue, 3(6), 36. doi: 10.1145/1080862.1080875

Link, B., & Back, A. (2015). Classifying systemic differences between Software as a Service- and On-Premise-Enterprise Resource Planning. Journal Of Enterprise Information Management, 28(6), 808-837. doi: 10.1108/jeim-07-2014-0069

Mahsa, H. (2013). Proposing a Decision Support System for Service Oriented Manufacturing Based on Enterprise Resource Planning. Journal Of Information Technology & Software Engineering, 03(01). doi: 10.4172/2165-7866.1000116

Müller, H., Bosse, S., & Turowski, K. (2017). Capacity Management as a Service for Enterprise Standard Software. Complex Systems Informatics And Modeling Quarterly, (13), 1-21. doi: 10.7250/csimq.2017-13.01

Palak Makhija, P. (2013). Implementing SAAS: Cloud Computing and Android Based Application Framework for C Programming. IOSR Journal Of Computer Engineering, 11(5), 74-78. http://dx.doi.org/10.9790/0661-1157478

Parthasarathy, S. (2008). Quantitative assessment of enterprise resource planning software customisation. International Journal Of Information Systems And Change Management, 3(3), 265. doi: 10.1504/ijiscm.2008.023949

Rom, A., & Rohde, C. (2006). Enterprise resource planning systems, strategic enterprise management systems and management accounting. Journal Of Enterprise Information Management, 19(1), 50-66. doi: 10.1108/17410390610636878

Safari, F., Safari, N., & Hasanzadeh, A. (2015). The adoption of software-as-a-service (SaaS): ranking the determinants. Journal Of Enterprise Information Management, 28(3), 400-422. doi: 10.1108/jeim-02-2014-0017

Seethamraju, R. (2014). Adoption of Software as a Service (SaaS) Enterprise Resource Planning (ERP) Systems in Small and Medium Sized Enterprises (SMEs). Information Systems Frontiers, 17(3), 475-492. doi: 10.1007/s10796-014-9506-5

Stojanov, Z., Dobrilovic, D., & Stojanov, J. (2018). Extending data-driven model of software with software change request service. Enterprise Information Systems, 1-25. doi: 10.1080/17517575.2018.1445296

Shirey, M. R. (2013). Lewin’s Theory of Planned Change as a strategic resource. The Journal of Nursing Administration, 43(2), 69–72. doi:10.1097/NNA.0b013e31827f20a

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MAA250 Ethics and Financial Services Trimester 2 2018 Assessment 2 – Video

MAA250 Ethics and Financial Services

Trimester 2 2018

Assessment 2 – Video Interview

DUE DATE AND TIME:

Friday 07 September 2018 by 23:59

The Video Interview session will be available from Monday 03 September 2018, 9.00am AEST until Friday 07 September 2018, 10.00am AEST.

PERCENTAGE OF FINAL GRADE:

20%

HURDLE DETAILS:

Nil

Learning Outcome Details

Unit Learning Outcome (ULO)

Graduate Learning Outcome (GLO)

ULO 4: Develop personal insights into professional career readiness

GLO 2: Communication

GLO 6: Self‐management

Assessment Feedback:

Students who submit their work by the due date will receive their marks and feedback on CloudDeakin within 15 working days.

Description

Throughout your time at Deakin, your focus has mostly have been on learning accounting or finance concepts and theories. This assignment requires you to:

summarise your learning

reflect on your development and

to articulate your capabilities using the STAR framework to promote yourself effectively to employers in an online video interview.

Before you start this assignment, it is recommended that you familiarise yourself with Deakin’s Graduate Learning Outcomes (GLOs). Understanding these will help you understand the expectations of a professional graduate. Today’s employers want graduates with demonstrated transferrable skills such as communication, self-management and global citizenship skills.

Requirements

A practice interview will help you become proficient with the video interviewing software, and to detect and fix technology issues (e.g., sound, camera, lighting etc.) before the assessment interview. Technology issues will not be grounds for a second chance if you have not completed the practise interview. Use the Video Interview checklist on page 5 to review your practice interview.

Workshops in week 5 and 6 will help develop your interview skills. These workshops will also discuss expectations of this assessment.

You will receive two emails from: [email protected], with links to:

The practice interview on Monday 20 August 2018

The assessable interview on Monday 03 September 2018

Use the practice interview opportunity to become comfortable with the software and to practise responding to interview questions. The five questions used in the practice interview differ to the questions in the actual interview.

The assessable interview will consist of five questions. For each of the questions you will have 90 seconds to prepare your response to the question; you will then have one attempt to record your response (no more than 60 seconds).

A detailed rubric is provided to assist you in the completion of this task.

Interview questions

Your interview questions will be based on the Accounting Learning Standards below; use the questions to help you prepare:

Knowledge – What accounting or other topics interested you most throughout your course, and how may that influence your future career?

Application – What accounting skills have you leant throughout your course? Consider your experience in financial accounting, management accounting, ethics; MAA310’s business simulation; and in placements or beyond.

Judgement – How have you used your accounting expertise to solve problems and make decisions? For example, why did you choose one strategy over another in the business simulation?

Communication and teamwork – Describe one experience (e.g. the business simulation) you have had working in a team, what worked well and what would you change for the future? Focus on YOUR contribution to helping the team achieve its goals.

Preparing for your interview will give the best opportunity to explain your capabilities and effectively promote yourself to potential employers. Using the STAR framework (Situation, Task, Action, Result) where applicable can help you to showcase your capabilities. In addition to the workshops, you will find the links below helpful with your preparation.

DeakinTALENT’s Interviews resource,

DeakinTALENT’s Communicate resource

Steps to access the interview

Click on the URL emailed to you.

Click start and respond to the questions. Submit the interview when you have answered all questions.

You will receive an email with the recording URL. Click on the link to view your video. This is your opportunity to see how you can improve in the assessment interview. Is the sound working? Is it loud enough? Is your background appropriate? Did the camera work? Are you centred in the frame and is the lighting good so that the interviewer can see your face? Use the Video Interview Checklist (found on page 5 of this document) to self-evaluate your interview.

Submission Instructions

Video Interview recording time:

Monday 03 September 2018, 10.00am AEST to Friday 07 September 2018, 10.00am AEST.

You may record your video interview at any time that is convenient to you during this period.

Once you have completed and submitted the interview, the URL to your video recording will be emailed. Check the quality of your recording by clicking on the link prior to submission.

To submit this assessment task, you must copy and paste the URL into a word document and submit the word document to the MAA250 assessment task 2 Dropbox by 11.59pm AEST Friday 07 September 2018.

Your interview cannot be accessed by the marking team if you do not follow these instructions.

You must keep a backup copy of every assignment you submit until the marked assignment has been returned to you. In the unlikely event that one of your assignments is misplaced, you will need to submit your backup copy.

When you are required to submit an assignment through your CloudDeakin unit site, you will receive an email to your Deakin email address confirming that it has been submitted. You should check that you can see your assignment in the Submissions view of the Assignment Dropbox folder after upload, and check for, and keep, the email receipt for the submission.

Notes

You are able to have one attempt at the interview in addition to the practice interviews. Only one video URL should be uploaded. It is your responsibility to upload the video you want marked. We will only mark one video.

Penalties for late submission: If you do not complete the task at one of the allotted times, you will receive 0% for this assessment task. The following marking penalties will apply if you submit after the due date without an approved extension: 5% will be deducted from available marks for each day up to five days, and work that is submitted more than five days after the due date will not be marked. You will receive 0% for the task. ‘Day’ means calendar day for electronic submissions. The Unit Chair may refuse to accept a late submission where it is unreasonable or impracticable to assess the task after the due date.

For more information about academic misconduct, special consideration, extensions, and assessment feedback, please refer to the document Your rights and responsibilities as a student in this Unit in the first folder next to the Unit Guide of the Resources area in the CloudDeakin unit site.

Video Interview Known Issues and Resolutions

A video interview can only be accessed by clicking on the ‘Begin’ button in the mail that will be sent to your Deakin student email address. You will then be directed to the Single Sign On page, where you will have to enter your Deakin username and password to log in to the Dashboard.

Recommended Browsers: Use Chrome or Firefox and ensure that Flash Player is enabled

Connectivity Issues: Remove any plugins on browsers blocking the mic/webcam. Also remove any VPN plugins

Uploading / Not recording issue: These errors arise when you tried to re-recorded the video multiple times, when internet connectivity is lost or when the page has been viewed for an extended period of time and no action has taken place.

Solution: Refresh the page. Clear the cache and restart the browser. Alternatively try logging in on another browser/network/machine.

VIDEO INTERVIEW PRACTICE CHECKLIST

Presentation

Communication

Quality of Responses

Personal

Dressed appropriately and professionally

Set‐up

Location is quiet and private

Background is simple and uncluttered

Lighting is clear and you’re clearly visible

Webcam/camera set‐up is stable and focused

Webcam/camera is positioned at eye level with head and shoulders in frame

Audio quality is strong and clear

V4

Body Language

Body language (i.e. posture and hand gestures) is relaxed and engaged

Eye contact is maintained with the camera

Overall expressions are natural, while showing enthusiasm

Distance from the camera is consistent with head and shoulders remaining in frame

Tone

Tone of voice is genuine and cheerful

Answers are delivered in a confident and authentic manner

Words

Speech is clear and at an appropriate speed

Professional language is used throughout

Acronyms or jargon are avoided or explained if used

Verbal pauses and filler words (i.e. ‘um’, ‘ah’) are avoided or minimised

Structure

Answers are well structured (i.e. using STAR for behavioural questions)

Answers are articulate and sincere, not read word for word from notes or heavily scripted

Content

Answers address the question asked

Answers show motivation, interest and understanding of the organisation and role*

Answers show alignment with the organisations goals and values*

Examples are varied (i.e. draw on internships, casual work, degree experiences)

Examples are recent (within the last 3 years)

Examples and skills are related back to the role, organisation or sector*

Length

Length of response provides enough detail (i.e. use at least half of the time allowed)

Available time is effectively used while not waffling or repeating to fill time (i.e. stop recording when answer is complete)

*Note – if appropriate to the question asked.

Deakin’s Bachelor of Commerce and MBA are internationally EPAS accredited.

Deakin Business School is accredited by AACSB.

Deakin’s Bachelor of Commerce and MBA are internationally EPAS accredited.

Deakin Business School is accredited by AACSB.

Page 4 of 5

Deakin’s Bachelor of Commerce and MBA are internationally EPAS accredited.

Deakin Business School is accredited by AACSB.

Deakin’s Bachelor of Commerce and MBA are internationally EPAS accredited.

Deakin Business School is accredited by AACSB.