Financial management Essay Example for Free

Financial management EssayQ1. What ar the goals of monetary management?Ans.Financial management means maximization of economical welf atomic number 18 of its sh arholders. maximation of economic welfare means maximization of riches of its shareholders. Shareholders wealth maximization is reflected in the market valuate of the upstandings shares. Experts believe that, the goal of financial management is attained when it maximizes the market care for of shares. There are two versions of the goals of financial management of the firm- Profit Maximization and wealth Maximization. Profit maximizationProfit maximization is based on the cardinal rule of efficiency. Its goal is to maximize the returns with the best output and price levels. A firms performance is evaluated in terms of profitability. Profit maximization is the traditional and narrow approach, which aims at maximizing the profit of the concern. Allocation of resources and investors perception of the comp eithers per formance notify be traced to the goal of profit maximization.Wealth maximizationThe term wealth means shareholders wealth or the wealth of the persons those who are involved in the business concern. Wealth maximization is those who are involved in the business concern. Wealth maximization is likewise known as value maximization or net present worth maximization. This objective is an univers eachy accepted concept in the field of business. Wealth maximization is possible only when the compevery pursues policies that would increase the market value of shares of the comp either. It has been accepted by the finance managers as it overcomes the limitations of profit maximization.The following arguments are in support of the superiority of wealth maximization over profit maximization * Wealth maximization is based on the concept of notes flows. Cash flows are a reality and not based on any inherent interpretation. On the other hand, profit maximization is based on any subjective inter pretation. On the other hand, profit maximization is based on accounting profit and it also contains many subjective elements.* Wealth maximization considers m value of money. Time value of money translates cash flow occurring at different periods into a comparable value at zero period. In this process, the quality of cash flow is considered critical in all decisions as it incorpo judges the risk associated with the cash flow stream. It finally crystallizes into the rate of return that go forth motivate investors to part with their secure earned savings. Maximizing the wealth of the shareholders means net present value of the decisions implemented.Q2. Explain the factors scratching Financial Plan.Ans. To service your organization succeed, you should develop a jut out that needs to be followed. This applies to starting the company, developing new result, creating a new department or any undertaking that changes the companys future. There are several factors that affect planni ng in an organization. To create an efficient plan, you need to understand the factors involved in the planning process. Organizational planning is affected by many factors Priorities In most companies, the priority is generating revenue, and this priority can sometimes interfere with the planning process of any project. When you start the planning process for any project, you need to assign each of the issues facing the company a priority rating.That priority rating will determine what issues will sidetrack you from the planning of your project, and which issues can wait until the process is complete. Company Resources Having an idea and developing a plan for your company can help your company to grow and succeed, but if the company does not have the resources to maintain the plan come together, it can stall progress. One of the first steps to any planning process should be an evaluation of the resources unavoidable to complete the project, compared to the resources the company has available. Some of the resources to consider are finances, personnel, space requirements, access to materials and vendor relationships. Forecasting A company constantly should be forecasting to help prepare for changes in the marketplace.Forecasting sales revenues, materials costs, personnel costs and overhead costs can help a company plan for upcoming projects. Without dead-on(prenominal) forecasting, it can be difficult to tell if the plan has any chance of success, if the company has the capabilities to pull off the plan and if the plan will help to chant the companys standing within the industry. For example, if your forecasting for the cost of goods has changed due to a sudden increase in material costs, then that can affect elements of your product roll-out plan, including projected profit and the long-term commitment you might need to make to a supplier to try to get the lowest price possible. fortuity Planning To successfully plan, an organization needs to have a c ontingency plan in place. If the company has decided to pursue a new product line, there needs to be a part of the plan that addresses the possibility that the product line will fail.Q3. Explain the time value of money.Ans.Money has time value. A rupee today is more valuable than a year hence. It is on this concept the time value of money is based. The erudition of the time value of money and risk is extremely vital in financial decision making. Most financial decisions such as the purchase of assets or procurement of funds, affect the firms cash flows in different time periods. For example, if a fixed asset is purchased, it will require an immediate cash outlay and will generate cash flows during many future periods. Similarly if the firm borrows funds from a bank or from any other source, it receives cash and commits an obligation to establish interest and repay principal in future periods. The firm may also raise funds by issuing equity shares. The firms cash balance will incr ease at the time shares are issued, but as the firm pays dividends in future, the outflow of cash will occur. beneficial decision-making requires that the cash flows which a firm is expected to give up over period should be logically comparable. In fact, the absolute cash flows which differ in timing and risk are not directly comparable.Cash flows become logically comparable when they are appropriately adjusted for their rests in timing and risk. The recognition of the time value of money and risk is extremely vital in financial decision-making. If the timing and risk of cash flows is not considered, the firm may make decisions which may allow it to miss its objective of maximizing the owners welfare. The welfare of owners would be maximized when Net Present Value is created from making a financial decision. It is thus, time value concept which is important for financial decisions.Thus, we conclude that time value of money is central to the concept of finance. It recognizes that t he value of money is different at different points a of time. Since money can be put to productive use, its value is different depending upon when it is received or paid. In simpler terms, the value of a indisputable amount of money today is more valuable than its value tomorrow. It is not because of the uncertainty involved with time but purely on account of timing. The difference in the value of money today and tomorrow is referred as time value of money.Q6. What are the assumptions of MM approach?Ans.Modigliani Millar approach, popularly known as the MM approach is similar to the Net operating income approach. The MM approach favors the Net operating income approach and agrees with the fact that the cost of capital is independent of the degree of supplement and at any mix of debt-equity proportions. The significance of this MM approach is that it provides operational or behavioral justification for constant cost of capital at any degree of leverage. Whereas, the net operating i ncome approach does not provide operational justification for independence of the companys cost of capital.Basic Propositions of MM approach1. At any degree of leverage, the companys overall cost of capital (ko) and the Value of the firm (V) remains constant. This means that it is independent of the capital structure. The total value can be obtained by capitalizing the operating earnings stream that is expected in future, discounted at an appropriate discount rate suitable for the risk undertaken.2. The cost of capital (ke) equals the capitalization rate of a pure equity stream and a premium for financial risk. This is equal to the difference between the pure equity capitalization rate and ki times the debt-equity ratio.3. The minimum cut-off rate for the purpose of capital investments is fully independent of the way in which a project is financed.Assumptions of MM approach1. Capital markets are perfect. 2. All investors have the same expectation of the companys net operating income for the purpose of evaluating the value of the firm. 3. Within similar operating environments, the business risk is equal among all firms. 4. 100% dividend payout ratio. 5. An assumption of no taxes was there earlier, which has been removed.Limitations of MM hypothesis1. Investors would find the personal leverage inconvenient. 2. The risk perception of corporal and personal leverage may be different. 3. Arbitrage process cannot be smooth due the institutional restrictions. 4. Arbitrage process would also be affected by the transaction costs. 5. The corporate leverage and personal leverage are not perfect substitutes. 6. Corporate taxes do exist. However, the assumption of no taxes has been removed later.

Self-Driving Cars Are Smart Essay Example for Free

Self-Driving Cars Are Smart EssayThe self-driving political machine is a car that allows a rider to travel safely and quickly to their destination without human driving (Marsico, 8). These vehicles are also greetn as autonomous cars. If the self-driving cars are available, pot are no longer had to worry about their own safety while driving on the road and also they dont hold a number one wood license. The drivers result have more freedom to do whatever they wish while inside the car including reading, texting, eating, and sleeping. The vehicle also derriere set up the speech limit that driver doesnt have to worry about when the police going to meet them. The self-driver cars are also hind end save our life because every class the pertly report accidents are caused on the road due to the human drive. In 2009, the technology company Google began developing a fleet of a self-driving car. These vehicles are just stepping away from being totally autonomous. They already trav el along U.S. roadways. Currently, people who ride in Googles robotic cars are able to stop control at any time (Marsico, 29).Technology has changed the way we live in many ways, around including being able to communicate with people that we know around the world. It also made things a grass easier like homework and learning. As we can see today the car manufacturers continue to experiment with the new technology. The self-driving car is one of the cars that experiment with the car manufactures. The cars first may acquire a GPS system to get a rough idea of where they are and where they need to go (Marsico 18). They also have a bunch of sensors to constantly scan the area around them looking for any hazards- whether that another car or a bicycle, or even a rogue bird (Barone). For Google self-driving cars these sensors include a camera to see, and radar and lasers to map out the area (Barone).The self-driving car also supervise 360 degrees around the car which much better than what a distracted driver could do (Stewart). Most important and challenging facet of self-driving cars is the package that makes them ply (Barone). This has to walk out in all the data from the sensors and GPS and even things like traffic and weather conditions and make decisions based on that. It determines how to steer, stop, and go and everything else involved in getting you from header to point. According to the Katie Marsico said, In fact, experts have suggested that self-driving automobiles might around 30,000 lives a year in the United State. As we can see today some of the people are driving and always cause the accident.The car that we drive today is easy and many people can drive them. They become fashionable and help people to travel place to place, save time and energy. Workers are able to transfer some important things with the help of the car. Using a car is comfortable and easier than using public transportation. Driving a car has also some disadvantages, such as buying and running a car need a lot of money, even more for a good quality one that is not too old. There are a lot of things to leave for insurance to cover the cost of crashes or theft, maintenance, parking charges, license fees charged by the government, and repair. When too many cars try to go the same way, the traffic will go slow them all and may cause the accident. According to Watson said, More than thirty four thousand America lost their lives to automobile accidents each year. The car accident is caused by human-made by a driver who is drunk, sleeps and distracted (Watson 46).If the self-driving becomes popular we may not see the accident because the car will do everything for us. The computer in the self-driving cars are dont drink, send texts message or fall asleep. We dont have to worry about belongings our eye on the road and in addition people can be more productive while traveling (Marsico 10). The car also can use the less gasoline because fuel contributes to pol lution this would benefit the environment too (Marsico 38). The self-driving cars have also some disadvantages because when they are testing the self-driving car had run the red lights or been in a minor collision (Davies Para 1).I worry about a self-driving car made of the computer. If computer software got virus how can we do? For those who do not know how to use the computer how will they fix their car? It will cost a lot of money to let the shop fix. The amount of software and technology thats required to build self-driving cars is likely to be quite expensive. Consumers may not exigency to catch up with such high costs for self-driving cars. According to Katie Marsico said, The technology that makes the self-driving cars works will probably add between $3ooo and $10,000 to car prices (Page 42). The car also can run on the computer if the hacker can decide that they like your car and can hack the system to unlock the doors to get inside or start the car and drive it away. They can also shut down your vehicle while it is driving you at high speeds and you end up in a fatal crash (Alex Hern Para 3).If the car can drive by them self we may not need the parking lots. Many people might get around with shared vehicles that never have to park (Barone). As we can see today millions of Americans make a living by driving trucks, delivery vans, and taxis. When the technology of self-driving cars takes their job, what will happen to their livelihoods? They depend on their paycheck and if the paycheck is no longer work, the person and his family often cannot afford to pay their living. The families will end up with losing a home and they cannot afford to move into another residence and will end up their life with homeless.

Tourism Development In India

Tourism Development In IndiaPart 1 Tourism DevelopmentBefore going deep into subsidisation there are some terms which we have to take into consideration. Terms are explained below-Tourism Tourism is travel for recreational, leisure or business purposes. The being Tourism Organization defines tourists as people who travel to and stay in get intos outside their usual environment for more than twenty-four (24) hours and not more than unitary consecutive year for leisure, business and other purposes not related to the exercise of an activity remunerated from within the place visited.Tourist-Tourist is person who travels from his residential place to non-residential place for pleasure, business or personal reasons, the duration of the stay is not more than six month at non residential place of the traveler.What is rational victimization?Rational development usu eithery relates to the circumstances that causes development to any destination or place. (Badjatia, 2008)Chosen destination ?As per the expectation of the assignment India has been chosen as a destination for the same.Rational for tourism development in IndiaSocio-economic development of areasTourism conferred considerable socio-economic benefits to the Community thereby uplifting the quality of life. It can advertize foster development even in areas where other economic activities would be difficult to sustain.Increasing employment opportunitiesTourism industry generates employment directly and indirectly, for closely 13-14 million people. Employment opportunities should be at least double of the present level before the turn of the century.Developing domestic tourism especially for the cypher houseDomestic tourists form the bulk of world tourist traffic. In India also, facilities for domestic tourists will be improved and expanded particularly the budget category so as to ensure an affordable holiday for them effects of tourism on culture and the environment in India.Development of inter content to urism and optimisation of foreign exchange earnings.International tourism contributes substantially to foreign exchange earnings and keeping in view the countrys requirements, tourism wail be so developed that foreign exchange earnings increase from Rs. 2440 crores to Rs. 10,000 crores by the end of the century (US $813 to 3,333 million Rs.30 per US S).Diversification of the tourism productWhile retaining the tralatitious image of cultural tourism that India enjoys, diversification of the tourism product would continue, particularly the field of leisure, adventure, convention and incentive tourism, thereby responding to the changing consumer needs.Increase in Indias partake in in world tourismPresently the foreign tourist arrivals in India constitute only about 0.4 per cent of the total foreign tourists movement all over the world. One of the objectives of the action plan would be to increase Indias share to 1 per cent within the next five years (unesdoc.unesco.org)Preservation of national heritage and environmentTourism would be developed in a manner that our cultural expression and heritage are presented in all its manifestations including birth to arts and crafts. Preservation and enrichment of environment should also form an integral part of tourism development.StakeholdersPerson, group, or organization that has direct or indirect stake in an organization because it can affect or be affected by the organizations actions, objectives, and policies. Key stakeholders in a business organization include creditors, customers, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the conjunction from which the business draws its resources.( www.businessdictionary.com)Stakeholders in IndiaCreditorsTouristsTourism organizationsGovernment organizations unusual currencyInvestorsStakeholders benefiting from tourism in IndiaGetting capital to invest in development of tourist destination.Foreign currency In the country i ncreases resulting into direct development.Generation of employmentBetter life style of the people in the home country. UNWTO technical manual arrangement of Tourism Expenditure Statistics (PDF). World Tourism Organization. 1995. p. 14.Badjatia, K. (2008). The Rational Development (2 ed.). Indore A.K. Publishers.http//unesdoc.unesco.org/images/0012/001216/121600eo.pdfhttp//www.businessdictionary.com/definition/stakeholder.html

Marketing Strategy for Zoo

marketing Strategy for zooIntroductionMalaysia has many tourist attraction speckles. zoo is a place where captive wild living organisms and extinct animals are kept and exhibited to withdrawors. It brings strange and fascinating animals from far and near to the tourists. Zoo Negara literally is the National Zoo in Malaysia. It was formally opened to public in 14 Nov 1963 by our first Prime Minister, Tunku Abdul Rahman. This zoological gardenlogical rack upk is located in Ulu Klang near Taman Melawati on the north-east of Kuala Lumpur which covers cx acres of land. The National Zoo is managed by the Malaysian Zoological Society (MZS), a non-government organization. The zoo has a total of over 5137 animals from 459 species of mammals, bird, reptiles, amphibians and fish. With the time passing by, the zoo has transformed itself into an open-concept zoo with 90% of its animals are kept in spacious exhibits with having natural landscape. Another 10% of our animals are from the A frican and American continent. The National Zoo is 46 years now. They are working to make sure the old zoo concept is changed entirely and trying move forward as a well cognise zoo around the world. When the National Zoo has arisen as a well known zoo around the world, it will read a higher reputation and it attracts more tourists. (http//www.zoonegara.org.my/zoo.html).The Role of MarketingMarketing plays an master(prenominal) role within most of the organization and the society. It is an essential department in whether the organizations crop as a non-profit or for profit business. Marketing is needed to attract customers to living the zoo, raising awareness and donations. Marketing also acts as a communication between the organization and the public. It is a way of conveying the messages and changes the behavior of the people to have a better environment in the society. The purpose of marketing is to advance the perception of the society towards the zoo and transform it in to a recognizable zoo worldwide. Marketing mix is a set of tools that management used to influence gross sales (Kotler, 2003). The 4Ps is a traditional method which is product, price, place and promotion. Product can be anything to be offered to a market for sales including services that can satisfy a customers needs and wants (Kotler and Armstrong, 2004). The national zoo has 5137 animals from 459 species of mammals, amphibians, reptiles, birds and fishes (Zoo Negara, 2009). They had been trying to keep up with the other zoos by buying or accepting animals from across the world. The recent arrival of sore animal is a male giraffe. The variety of different animals and species is what differentiate them from other local zoos. There are a few factors that affect price setting. The zoo needs to consider intimately competitors, the cost of running it and their objectives. Customers tend to go to the cheaper and money saving places. The zoo offers cheaper rates for the locals comparin g to foreigners, groups, senior citizen and the schools. Place as defined by Kotler and Armstrong (2006) is a set of independent organizations involved in the process of making a product available for the customers. The national zoo was known as Zoo in the Jungle as it was located 8miles from the city and said it was too far (Zoo Negara, 2007). However, this location had been developed and a new city has been born. People had found it an ease to go as public transports is available. Promotion is defined as sales promotion, advertising, individual(prenominal) selling, public relations and direct marketing (Borden, 1984). The zoo had been trying to attract more customers to increase the r correctue to support the zoo. They have Savannah Walk and Zoo Negara Bear Complex to host personal functions such as birthdays and family day. They have a special Valentines sidereal day promotion and the zoo was included in the governments program of promoting the country.SocialIn 2007, Zoo Negar a had1608 schools which is about 78400 students to visit. The zoo is a good exercising place to educate those students to know more about animal knowledge. This large making profit zoo has to enkindle their system and provide more services to comply with the increasing demand. The zoo does provide guided tour on the zoo tram and this support by college and university volunteer to give more understanding for those students. This service is free of charge. Zoo Negara also has an aquarium named Akuarium Tunku Abdul Rahman (ATAR). It is one of the oldest public aquariums in this country. It provides different type of animal information to the student and the public. Zoo not only has indoor activity, they are also co-operating with external marketing team name Global Soft Marketing to organize events in Selangor schools. They offer a wide variety of program such as talks, animal appearances, coloring contest and quiz. The education department continues to earn undergraduates from inst itution of higher learning or university for their practical training in the zoo. The zoo is the place for them to do their undergraduate and post-graduate research thesis. This is more convenient for them as the zoo has many varieties of animals and the tools for it are available. The education department also has responsibility in organizing monthly seminar. They can invite universities and schools to attend these sponsored seminars which are open for public. Topics that have been covered in year 2007 include The Global Amphibian Decline, Animal Management An Islamic Perspective, Save the Synchronous Fireflies, Hand breeding of Hyenas and many more. Zoo Negara has a Veterinary Hospital to take care of the animals and thus it gives the students great opportunity to do research from the lab.EconomicsZoo Negaras income had increase significantly in year 2007, 10.49 million compare with 9.13 million in year 2006. It showed that the Zoo Negara contributed in improving the economics o f the country and earning money for government. in any case that, they used manpower to upgrade their system or service. This will decrease the percentage of unemployment. Zoo Negara promotes Valentines Day celebration too where registered couples were taken for a visit around the zoo and then for a set dinner in the vicinity.This will attracts more visitors from foreign country to have this chance to experience the Valentines Day with a different and yet unique environment. This is one of the steps taken by the zoo management to increase the revenue and contribute to the countrys income. Besides that, darkness Zoo also aids in improving the economic because of foreign visitor especially if the zoo co-operate with the travel company to create interesting tourists packages. Zoo Negara is included in the Program Zoom 2009, Malaysia. One of the reasons why are the zoo is included because it is an important heritage of Malaysia. It is getting famous as it is world promoted by the Gov ernment of Malaysia. This promotion comes with a name called Fun with Nature and also offers Zoo Negara loyalty card.CustomerThe zoo develops a certain fool market, demographically, in terms of age, generation and occupation. The zoo now mainly markets itself to the younger generations or working families. Now the zoo has a purpose in their intent markets, usually on younger generation (generation X, Y and Z), this is to educate them on the natural habitat of flora and fauna as they are the next in line to manage the community. In actual fact, younger generations bring a big impact in increasing the sales per annum of the Zoo. Without children and teenagers, parents might not even find the reason to pay a visit to the Zoo. A recent activity has begun attracting locals to the zoo, stated in the article http//thestar.com.my/metro/story.asp?file=/2009/11/27/ profound/5109363sec=central . This article also stated that a survey was conducted due to a poor number of visitors in the year 2006. It was concluded that many local visitors found the entry fee of the zoo was too expensive. The recent price slash down to 50%, had a positive impact on the number of visitors. However, over 70% of the visitors are locals not foreigners. On the other hand, the Zoo has worked in conjunction with the KL HoHo Bus (Hop on and Hop off), this bus makes mingled stops at tourist destinations area around Kuala Lumpur including the Zoo Negara. The article also stated that ticket price has increased few months back, due to in lack of contributions from the government and sponsors. 80% of the ticket sales go straight into the zoos finances. Overall in terms of meeting customers needs, the zoo is not up to par yet. It only focuses on local visitors while casting the foreigners aside, special rates for visiting families and the ease of transportation should be implemented for both visitors. Visitors play an important role in the Zoos development. If there are lesser visitors, it will resu lt in smaller turnover. When turnovers are smaller, funds might be insufficient to support and manage the Zoo. In event of this, the animals might not have enough to eat or they may not be able to do nourishment to attract more visitors.CompetitionCompetitions among the other zoos located in Malaysia are rather steep. The Zoo Negara, Kuala Lumpur has a better location and in terms in size, it out beats the other zoos in Malaysia. As the Zoo Negara is the biggest zoo in Malaysia, so they are able to keep more species of animals compared to the other zoos, example the Zoo Malacca or the Zoo Taiping and Night Safari. A smaller zoo does bring an impact because they cannot compete with the other bigger zoos to care for more animals and also to cater to visitors need. Partnerships with other tourist attraction companies made a positive impact on the zoo. Such as the partnership with the Kuala Lumpur HoHo Double-decker bus, helps the locals and foreigners to find the zoo with ease, this scenario is stated in the article http//thestar.com.my/metro/story.asp?file=/2009/11/27/central/5109363sec=central. Even though there is a price disceptation between the zoos in Malaysia are incomparable because the entry fee of Zoo Negara is pricier than other the zoos, Zoo Negara still manages to attract tourists by conducting various activities such as zoo marathon, photo competitions and fishing competitions. This gives the zoo a leg ahead from the others, not only attracting youths but also adults. Zoo Negara manages to sustain its differentiation for a long period of time by coming up with packages and discounts while maintaining its position within the market which is stated in http//www.mymalaysiablog.com/malaysia-zoom-zoo-negara-and-visit-zoo-negara-year-2009/ . Therefore, prices of the tickets for sale have to be more reasonable to fulfil the requirements of visitors hence to lower impact brought to the zoo.ReferencesPhilip Kotler, 2003, Marketing Insights From A to Z 80 Concepts Every Manager Needs To Know, John Wiley Sons, the StatesPhilip Kotler Gary Armstrong, 2004, Principles of Marketing, 10th Edition, Pearson Education, USAPhilip Kotler Gary Amstrong, 2006, Principles of marketing, 11th Edition, Pearson International, USAZoo Negara, 2007, A Journey Through Time, retrieved on 30th December 2009, from http//www.zoonegara.org.my/Microsoft%20Word%20-%20Journeythroughtime.pdfNeil. H. Borden, 1984, The Concept of Marketing Mix, Journal of announce Research, 1 (9), 2-7.Zhin, C.M., (2009) Special Discounts for Locals at Tourist Spots, The Star Online, 27th Nov. Online (Accessed 20th Dec 2009) Available at http//thestar.com.my/metro/story.asp?file=/2009/11/27/central/5109363sec=central%20.Malaysia Zoom Zoo Negara and Visit Zoo Negara Year 2009, (19th Jan 2009). Online (Accessed 20th Dec 2009) Available at http//www.mymalaysiablog.com/malaysia-zoom-zoo-negara-and-visit-zoo-negara-year-2009/

Successes And Failures Of Executive Information Systems

Successes And Failures Of Executive Information SystemsThe Executive Information Systems (EIS) was facing a high risk of analyseures, these estimates 70% of the failures. Organizational psychological, technological and educational issues trade name the implementation of the dust difficult. Although it was an EIS but on that point were only little users of executives and the majority of the executives never rate the EIS advantages highly. The majority users of the governing body argon middle focusing level. establish on this fact, implementation success kitty non be taken for granted. The failure and success of former(a) system cannot be applied to EIS. More organizations ar using EIS and their derivatives and this comprise the system substantial. But there is less additional research ab proscribed EIS although the model of critical success factors (CSF) for EIS already exists 10 years. There do not capture any prove that show CSFs atomic number 18 universal in the maski ng in different situation.System successThere ar just about difficulties to pay back system success. Based on combination suggestions from many researchers, the article researchers had chosen 5 evaluation creations and introduce with the explanations.Access the EIS is made available and users argon given access to the systemThe development team should make the system available for the entire user.Use the EIS is used by the intended usersIf the system cannot bequeath any benefit to the users, the system is facing failure. The development team alike packs to make sure that EIS is using by the potential users.Satisfaction users are satisfied with the EISThe satisfaction of user is important. If the user is satisfied with the system, it means the system successful.Positive impact the EIS has positive impact the executive and the organizationIf the system can bring benefits to the user then the system is success.Diffusion the EIS tends to spreadThe number of users also can sho w the successful of EIS. When an EIS user gains impact from the system, he pull up stakes promote it to other colleagues. This will increase the number of users of EIS.CSFs reviewedBased on Rocket and DeLong (1988), they had mentioned that there are 8 areas that appear to be the important factors to EIS success. separate researches prove that the factors will influence the EIS success and the researchers add on ii factors that will influence the EIS success.Committed and informed executive sponsorThe committee that invests term and effort in development of EIS will have more understanding about the capability and limitation of the system.Operating sponsorThey need to have operate sponsor to design the details of implementation from the user side to leverage the executive sponsor.Appropriate IS staffSenior executive need a timberland staff to support the IS. This can make sure that the top reign overment can interact with supporting staffs to make the system success.Appropriat e technologyThe word sense of system is based on the choice of hardware and software. The specifically designed product has solved the problem of lack of hardware and software.Management of dataThe native and external sources, ability to access the data are the issues in system development. Some factors will block the implementation information systems (IS) for executives.Clear link to headache objectivesThe system must have a clear link to bloodline objective and clear benefits in using the technology. The system must provide slightlything that other system does not have in order to add value to the data.Management of organizational resistanceThe political resistance is the factor that causes failure in using system. The reason is because executive can change information and shift the power inside the company.Management of system evolution and spreadThis is to fulfill the users train and identifying all the ask of user and take it into account when expend the system.Evolut ionary development methodologyEvolutionary development methodology find the way on how the system can give value to the executive, and keep the executive hopefully and aware of the project.Carefully defined information and system requirementsFulfill the executive need is the key of successful system.MethodologyThis research studied the basic EIS success model. This model shows that CSFs will influence the system success. To get the 10 CFSs, the researchers study the sextuplet Hong Kong organizational good examples. The researchers used face to face oppugn. They used a series of own(prenominal) interviews with the key person in organizational. The questionnaires include open-end questions, and all the questionnaires send out before the interview. This was to make sure all the interviewee would provide more information. There are two sets of questionnaires company still using the system and company match using the system.ResultsAfter the results for all six organizations were ana lyzed, three success outcomes emerged (Major railway, international airline and health care provider companies), two failed cases (Utility and shipping companies) and one open(a) case (Large University).The two failures cases are categories as true failures by the decision to terminate the EIS and deficiency of benefits derived by the firm. The undetermined case was happen where the system was very used, but it has no met its initial expectation, only a small fraction of its take to the woodsally, the benefits were not conceive and that no future expansion plan were planned.There are ten CSFs. The first one is a committed and informed executive sponsor. In success cases, top prudence ever so ensures resources and political support, provide delegacy and feedback, keep constant pressure on EIS project team and communicate strong and put continuing interest to the EIS developers and data providers. In undefendable case the president applies hands off approach to manage EIS proj ect but he ensures the resources support needed for EIS. However, the failed case never set deadlines for EIS project and face up loss on sponsorship after loss of interest and direction from top centering.The second CSFs are an operating sponsor. In success cases, operating manager have commit resources and prison term, participate and promote and help match business needs with technological capabilities. In unresolved cases, operating manager has handling day term to day issues of development and translates users needs to design team. However, in failed cases, no clear single operating sponsor role are assign so the top management operating focus cannot be communicate to users.The third CSFs are appropriate IS staff. In success cases, companies applied team approaches which include external consultants, sponsors and data providers. In unresolved cases, essential staff confronted problem after external consultant left, company not have replete competence essential staff. Com panies cannot development untested EIS to meet users new requirements. However, in failed cases, there are no inheritor after the departure of IS staff. Company staffs are lack experience with EIS development. External consultants are lack understanding of the executive environment.The fourth CSFs are appropriate technology. In success cases, the capability, capacity and response time of technology are pleased with users. Vendor-supplied EIS software is used and a custom-built system is developed in management. The system supports for rapid screen design and maintenance. Users are pleased with it because this system is ease to use, always updated with new user needs and it is more flexible and faster. In unresolved case, users are facing the problem with accessing the system as there are complex and slow response time. However, in failed cases, management felt difficult to write their own software as there is no prototype provided and need a long time to build the system.The fifth CSFs are management of data. Data that produced by system is in novel format consists of hard and soft data, internal and external data which add value to existing reports. Data are timely, accurate, reliable and consistent. Manager will verify the feasibility of obtaining information before committing to carry into EIS. In unresolved cases, duplication of works is occurred. Data are not being updated and incomplete in system. Moreover, they do not provide external data too. In failed cases, manager unable or taken a long time to obtain information for EIS. Data are not provided on time and presented in desired formats. Duplication of works is occurred too.The sixth CSFs are clear link to business objectives. For success cases, management is able to identify the key implementation indicator, focus on business opportunity and then define the benefits by using EIS. They will define the critical success factors before the commencement of EIS project. For unresolved cases, value of EI S clearly defined and linked directly to users information needs. However, in failed cases, EIS do not have clear link to business objectives as executives are undervalued the importance of EIS. In succession, they do not convey clearly the objectives and benefits of EIS to users.In the seventh CSFs, it discuss about management of organizational resistance. There are a couple of(prenominal) reasons make the factors successes which are EIS developers report that organizational resistance is not significant, majority of users are willing to use the system also make the factors success, resistance is handled by education and negotiation and relief which make IT is an important tool to help staff achieve business objectives. On the other side, there are some reasons make the factors die unresolved case. First, resistance is found initially due to the unfriendly user interface and slow response time. Second, resistance is less since preparation is provided and the technology is enhanc ed. Then, the reasons make the factors fails are data providers and middle management do not cooperate with the EIS project manager. There is also no action to manage the resistance. Corporate culture is not ready for the EIS and reluctant to embrace the technology also make the factors fail.After that, in the eighth CSFs which is good management of system evolution and spread. To be success in EIS new modules or refinements and enhancements are carried out following their comments. Then, new features and functions are added to meet increasing user requirements and also they are also encouraging user participation to express their needs. The reasons of no evolution due to the inadequate human resources and EIS cannot be enhanced quickly enough to capitalize on the newfound requirements make the case become unsolved. If there is no planning for EIS spread and evolution is not made to respond to users needs make the case fails.In the ninth CSFs, it discuss about the evolutionary or pr ototyping approach. Without using evolution or prototyping approaching make the case become unresolved. If the user only using prototyping approach without using evolution approach then it would make the case fails.Then in the tenth CSFs, it discusses about information and system requirements are carefully defined. The factors which help to achieve the EIS succeed are defined a view of what EIS is intended to achieve, review the existing management reports, interview executives and personnel who work for executives, the design is capable of meeting the requirements of different executives, arrange on-site meeting with EIS users at from each one output for meeting the information requirements of each output manager, ask personnel who support management and encourage users to devote time to try the EIS prototype. For some unsolved case, the users just review the existing reports to define information requirements and not carefully defined real users needs. Then, reasons like executiv e cannot devote time to the EIS project, information and system cannot be clearly defined, unable to voice information requirements, users do not have time discuss with consultants and external consultants have problems to understand users needs because of a lack of familiarity with the business make the case fails also.DiscussionThe three success cases seem to manage the CSFs well but the other two cases fails to do so. A well-managed of meta-CSFs can either result in a good or bad way. However, without such CSFs, it increases the difficulty in identifying the success and failures in an EIS. It was uncertain to identify the meta-CSFs as only six cases are analyzed. However, based on the analysis, the unresolved case, even though that had well championship from executives and operating sponsors, they miss the fundamental factor. This refers to the resources of the people, financial and appropriate technology. Another factor that influenced the unresolved case is the link to busines s objectives. Executives have a strong orientation but limited time to search for benefits. System with clear benefits demonstrated, linked to business objectives, and has a higher user acceptance. Temporal consideration is reflected as strong sponsorship of resources before EIS is launched. Little usage is achievable if the system cannot establish clear benefits.The two failure cases provide some evidence of the critical failure factors yearning in failing the EIS, top management prefer informal personal reporting, timidity of losing influence by the employees, uncooperative data provider and middle management with EIS project manager and unprepared corporate culture. Both failed organization apparently use the Chinese management system. The characteristic of this management is that all strategic and major personnel decision is made by the owners and direct supervision of work and personal reporting rather than formal information system. Critical failure factors are different fr om the CSFs clear link to business objectives and management of organization resistance. Management system weighted the peoples experiences and beliefs rather than formal written rules for the sake of the organization, may be opposed to business objectives. Strong opposition causes the failure of the IS or vice versa. mate of IS with the organizations management system should be differentiated from normal organization resistance to avoid fear-based culture. However, in these two failure cases, the existence of letting the system fail is higher than the success of the system.ConclusionUnderstanding system failure and success is important. The on-line analytical processing (OLAP) associated with the EIS trend is a way of looking beyond transactions to forces driving them. It helps organization to have accurate forecast sales to have better planning in inventory, production, advertisement expenses and product pricing. In this study, Rockart and Delongs application of the eight CSFs an d the additional of two factors are confirmed. Hence, it is important to have championing, resources and system link to business objectives. Unsuccessful system may result from disagreement with management system. Organizations that translate the needed information with business goals to a good system are likely to success than solving problems with an IS.Student ExpectationsIn this case, EIS is not function perfectly because there is limited functionality, high implementation costs, less reliable and less secure data.IS project team should give pressure to the company as they are creating and maintaining the system, to receive resources that should have been received. This means that resources will be received at the time when it is needed and not after.The encouragement by the IS staff is important after the system has been done (creating/maintaining) as they need to demonstrate the benefit in sense of it ease in accessing the system and so on. Less time is needed to produce infor mation that is needed as time is gold to the executives.Proper and specific training shall be given by external consultants to internal IS staffs, especially when a new system was created. This is to make sure that are a backup of the system in case external consultant leave.Nowadays, there is a lot of business systems which are more useful compare with EIS. For example, International Business System (IBS), which is a leading provider of distribution management solutions. IBS focuses on industries such as automotive, electrical components, paper packaging, pharmaceutical distribution and so on.

The Unobtainable Good Things in O’Connor’s A Late Encounter with the En

The Unobtainable Good Things in OConnors A Late Encounter with the oppositenessI have Seen the Enemy and it is Myself . . . . . . . She wanted the General at her graduation because she wanted to show what she stood for, or, as she said, what all was behind her, and was non behind them. This them was not anybody in particular. It was just all the upstarts who has turned the world on its head and unsettled the counselings of decent living. (134) These are the thoughts of Sally Poker Sash, as offered by Flannery OConnor in the second paragraph of her story A Late Encounter with the Enemy. Sally, a sixty- 2 year old school teacher, is receiving a college degree that has interpreted her twenty years to earn. She should be proud of her accomplishment. Of course she should be proud. She proves true the old adages, its never too late and good topics come to those who wait. Isnt it possible though, that in some situations, the good things come too late and when they do arrive they are not so good? I think OConnor, through this story, is onerous to warn us (the readers) of that possibility. The first paragraph of A Late Encounter is told from the point-of-view of Sallys grandfather, General Tennessee Flintrock Sash. OConnor makes it very clear to us that the old man doesnt give two slaps for her graduation. Surely, his attitude is apparent to Sally, too. Sally is aware of his attitude, too. Why, then, is it so important to her that he live to see her graduation? In the above passage, Sally offers three ostensibly simple, but in actuality, complicated explanations for her prayer.Sally states explicitly that she wants her grandfather to attend her graduation because she wanted to show what she stood for. This is very ... ...tory, opting instead to make for themselves a sullen past? Ironically, Sally is guilty of using this false past to impress the Dean and guarantee her degree.Graduation day arrives and Sally is ready for the good thing that she has waited so long for to arrive. Alas, if it is her grandfather that she wants to prove something to, she is out of luck. OConner cheats Sally out of her moment of glory. We learn at the end of the story that the old man dies charm on stage at the graduation, oblivious to Sally receiving her diploma. Afterwards, her young nephew, the crafty scout John Wesley Poker Sash, hastily bumped the corpse out the back way so that he could get to the Coca-Cola machine thus depriving Sally of her moment to gloat in front of him. Dammit Cheated out of triumph again. Sally Sash (whose substance name is after all Poker) had bet on the past and lost.

Ptolemy of Alexandria, the Influential Astronomer Essays -- Biography

Ptolemy of Alexandria, the Influential Astronomer Ptolemy of Alexandria was the most influential astronomer of the antediluvian patriarch world. The books and theories Ptolemy developed served as a majorbasis for future astronomers. It was during the Renaissance period thathis work became thoroughly studied and revised. Ptolemy collected all ancient knowledge of astronomy and geographyincluding it in his book Almagest around 140 A.D. It follows, he thenwrote a four volume astrological study known as the Tretrabiblos. Ptolemyclaimed that the scribes of Babylon had been instructed since 750 B.C tokeep detailed astronomical diaries. These diaries were written for sevenhundred years on clay tablets. The tablets depicted night-sky events alongwith river level changes and weather phenomena. Modern archaeologists renderconfirmed the claim by unearthing Babylonian tablets recording observationsof Mars and Venus from that time period. Ptolemy used a method of consulting li sts of lunar phases, andplanetary movements complied over some(prenominal) centuries to look for...