Advanced Financial Management Essay Example | Topics and Well Written Essays - 2500 words

Advanced Financial Management - Essay Example Dividend Policy derived from the type of capital structure chosen by the company also affects the value of the company’s stock to a great extent that in turn may enhance the company’s bottom line. For this paper, the financial & investment strategies of The Walt Disney Company will be discussed in order to understand financial blueprints taken by the company from time to time & its effects on the company. Walt Disney is the second largest mass media company in the world with headquarter in California, United States. The common stocks of Disney are traded on New York Stock Exchange (NYSE) with a ticker symbol of DIS. As per the records, last time the company had paid dividend was on 16th of January, 2013 to all its shareholders. In the last financial year of 2013-14, the company has shown substantial financial improvement in terms of return on investment & shareholders, subsidiaries & joint ventures’ perspective. The company ranks 17th on Forbes in the list of most valuable brands with as low as 3% default risk as compared to their peer companies. In July, 2014 the US dollar bonds issued by the company were heavily traded as corporate fixed rate bonds near the best value. As a result of an exceptional trading volume of $ 28.9 million on 11th & 14th of July, 2014, Walt Disney became 16th most actively traded corporate bond issuer in the current financial year of 2014-2015 (Verma , 2012). The capital structure shows how a firm can finance its overall operations through optimum utilization of their sources of funds. Main sources of funds can be classified under Debt & Equity. Equity includes common stock, retained earnings & preferred stocks whereas debt includes bonds & bills i.e. long term payables (Baker and Martin, 2011). Using more debt instruments in the capital structure of a company increases the riskiness for the company due to continuous interest payment & obligation for payment of principle in long run. However, higher proportion of

My future job Essay Example | Topics and Well Written Essays - 250 words

My future job - Essay Example Similarly, development opportunities in the industry are omnipresent. Marketing management is a very creative job. It has become all the more interesting with the use of latest technology. These days, new ways of marketing management are emerging with the use of latest apps, smartphones, and iPads. These things have increased social connectivity and have provided marketing managers with cheap and yet effective means of gathering information about the consumers. The importance of marketing management for businesses cannot be overemphasized. Any business fundamentally depends upon marketing management in order to be successful. The better the marketing management, the better the planning, administration, execution, control, and modification of the business. Customers’ loyalty with a brand can be primarily attributed to marketing management because brand image is also controlled by marketing managers. To conclude, Marketing Management is a very good profession with a lot of opportunities for development and creativity, and a lot of importance. Job opportunities are abundant. I am looking forward to becoming and growing myself as a Marketing

TRANSACTIONAL LEADERSHIP STYLE ANALYSIS

TRANSACTIONAL LEADERSHIP STYLE ANALYSIS Management is doing things right; leadership is doing the right thing Peter F. Drucker A leader is a person who guides others toward a common goal, showing the way by example, and creating an environment in which other team members feel actively involved in the entire process. Leadership remains a very important factor to successful organizations. Ensuring that effective leaders are selected, trained and developed is of significance importance to todays organizations. Three major types of organizational leaderships have been presented throughout the years; transactional leadership, transformational leadership, and charismatic leadership. Each type of leadership contains a certain number of attributes which distinguishes it from the others, however many theories converge into the position that each type can be used separately or in conjunction with the others. In transformational leadership the leaders motivate their followers to perform beyond expectations by fostering a climate of trust and by creating and representing an inspiring vision of the future. In charismatic leadership, leaders differ from others by their ability to foster an impression that they and their mission are extraordinary. As such, individuals choose to follow such leaders in management settings not only because of formal authority but out of perceptions of extraordinariness. However in some extent transformational and charismatic leadership are similar and compatible. On the other hand transactional leadership is complementary to the other two types of leadership and is based on an exchange process in which the leader provides rewards in return for the followers effort and performance. In this paper we are going to define what transactional leadership is and then we are going to present the attributed behaviours that transactional leaders have and how these behaviours affect the organizational identification, the organizational commitment, trust and organizational citizenship behaviours of the followers. TRANSACTIONAL LEADERSHIP: All research and studies that have been conducted throughout the years about transactional leadership have accepted the definition given by Bass (1985) that transactional leaders clarify for their followers the followers responsibilities, the expectations the leaders have, the tasks that must be accomplished and the benefits to the self-interests of the followers for compliance. Transactional leaders usually operate within the boundaries of the existing system, emphasize process rather than substance as means of control and are effective in stable and predictable environments. The primary factors of transactional leadership model include contingent reward, management-by-exception and laissez-faire. The leaders, who engage in transactional behaviours, focus mainly on low order construct such as broad performance goals due to the absence of experience which is required in order to focus on higher level organizational visions. In cases when the leaders confront these kinds of situations, they engage in strategic processes so as to find a novel way to encourage their subordinates to work towards that vision. However, in most cases they emphasize on specific goals and performance outcomes such as increase in team productivity and establishment of effective working relationships within the groups. Additionally, transactional leaders expect their followers to have attributes such as commitment to goals, expectancy of goal attainment, expectancy of rewards and need for role clarity. In order to achieve the highest subordinate performance, these leaders use rewards and punishments as tools. For a given performance failure, transactional leaders are likely to make an attribution to lack of goals or lack of expectations of a reward from the side of the follower and therefore they respond with goal setting, instruction and training, work assignment and reward or punishment. Finally, transactional leaders focus on environmental conditions in which they are able to interact with the followers to increase motivation through goal setting, increase action-to-action and outcome-to-outcome expectancies, and influence follower skills and abilities through training. Such conditions may include increasing resources, technology, social support and equipment. However, it is very important to determine whether all the above attributes that transactional leaders possess are adequate enough to affect the followers and increase their performance. EVALUATION OF TRANSACTIONAL LEADERSHIP: There are two ways for an employee to determine if he/she has been treated fairly in his/her job; distributive justice which is related to the fairness of the outcome an employee receives and procedural justice which is related to the fairness of the procedures used to determine those outcomes. Transactional leaders are more likely to motivate and persuade the employees who are concerned about the fairness of the outcome because their relationship with their leaders is based on the rewards they receive in exchange for their efforts. Since one of the main attributes of the transactional leader is to make rewards contingent on performance and specify the outcomes that the individual can expect in exchange for good performance, job satisfaction will be increased when these conditions will be satisfied. On the other hand in environments where procedural justice is the main way to determine the fairness of treatment to subordinates, the leader-employee relationship is outside the economic contract. In that case interpersonally fair treatment is very crucial. However, as we mentioned earlier transactional leaders are based on the exchange procedures to motivate their employees and less on interpersonal relationships. Therefore, in these cases transactional leadership might have no positive effect on job satisfaction. Additionally, transactional leadership directly affects the organizational commitment of the employees. Despite the fact that emotional attachment is the major characteristic of organizational commitment many subordinates consider organizational commitment an important instrument to obtain rewards and recognition. Therefore, leaders who use economic exchanges to appraise good performance are more likely to increase the commitment of their employees. On the other hand transactional leadership does not affect the relationship of trust between the leader and the subordinates. As we mentioned transactional leaders emphasize on specific goals and performance outcomes by requesting from their employees commitment to goals and expectancy of goal attainment. The feedback that they provide to their subordinates for their performance is either a reward or a punishment. This kind of interaction does not affect the feeling of trust from the side of the employees. This can be enhanced by the fact that transactional leaders focus on low order constructs such as broad performance goals and not on organizational visions which require the trust of the subordinates to successfully achieve these visions. Finally, under certain conditions transactional leadership can play an important role in the organizational identification which affects the effectiveness of the company, increases the organizational citizenship behaviours and reduces turnover. As organizational identification we define the perception of belongingness to an organization, of which the person is a member. Since transactional leaders provide the employees with useful information about their roles in the organization and about what is expected of them in their work, they help them to understand what the organization stands for and what it is like to be a typical member of it. However, the effectiveness of this type of leadership will also depend on the subordinates identity level. In cases where the employees are characterized by individual identities, transactional exchanges such as performance evaluations through rewards and punishments will overemphasize the individual contributions against the organizational goals an d therefore will not increase the organizational identification. Therefore, transactional leadership will only have an effect on employees who think and behave in ways that emphasize collaboration with the others. Additionally, despite the fact that transactional leaders provide clarity, direction and sense of security to their employees they are not able to convince employees who experience feelings of stress and anxiety to establish a strong connection with the organizational collective. This can be explained by the fact that transactional leaders do not use inspiration and mentoring to heighten the followers sense of belongingness. IMPLEMENTATION OF TRANSACTIONAL LEADERSHIP IN THE ORGANIZATIONS: According to the previous paragraphs, transactional leadership is the type of leadership in which the leaders emphasize in the clarification of roles and task requirements and provide followers with material or psychological rewards contingent on the fulfilment of contractual obligations. In order for the managers to apply this type of leadership in their organizations first they must discuss with their followers what is required and clarify how these outcomes are to be achieved and the reward they will receive in exchange for their satisfactory effort and performance. This can be done by clearly defining the job descriptions of each employee, and the rules regarding work duties and then by using performance appraisals. Therefore, when the leader assigns work to its employee, it is the responsibility of the employee to see that the assigned task is finished on time. If the assigned task is not completed on time or does not have the optimum result then the manager will have the right to punish his/her employee for the failure. But if they accomplish the task in time then the followers will receive the rewards for successfully completing the task. Furthermore, the managers must provide rewards in cases where the followers exceed the requested expectations. Through this policy the transactional leader can increase the job satisfaction and the expected performance of his/her employees. PERSONAL OPINION: As concerns my view I believe that transactional leadership can be potentially applicable and effective only in certain organizational situations. The conditions which favour the emergence of transactional leadership are characterized by stability. In stable predictable environments, organizations tend to be strictly controlled and formalized. Such organizations favour the elaboration of certain rules and regulations and determine specified performance measurement systems and hierarchical distribution. In these environments transactional leaders can emerge and become effective by emphasizing on specific goals, processes and performance outcomes. However, there are conditions that require a leader with characteristics more than those of the transactional leader. In cases when tasks are not analyzable, standard operating procedures are not helpful, and progress cannot be easily measured, employees are likely to be frustrated and discouraged, and transactional leadership might not be applicable. The only way for a leader to motivate its members under such conditions is to infuse their tasks with an ideological meaning and purpose. Additionally, as mentioned in the previous paragraphs transactional leaders do not focus on organizational visions but they stick on the accomplishment of specific goals. Therefore, in situations where the conditions dynamically change it is likely to be difficult for them to provide a feasible solution. For example in cases of crisis where performance goals cannot be easily specified and where leaders cannot link rewards to individual performance, employees tend to follow the person who has a vision, and novel ideas. In that case the leader must be able to establish relationships of trust and respect with its employees in order to inspire them and convince them that he/she is capable of providing inspiring strategic and organizational goals for the future. As a conclusion I believe that a leader must combine the characteristics of transactional leadership with the characteristics which are applied in the other two types of leadership; charismatic and transformational. Therefore, he/she must be able to recognize the conditions that emerge in each situation and try to implement the right type of leadership in this situation so as to proceed with the optimal solution.

No Sugar by Jack Davis: Exposes the Mistreatment of Australian Aborigi

Today, in the 20th Century, it is a commonly known fact in Australia, and throughout the rest of the world, that Aborigines were mistreated from since western culture first settled, and for many years after that. It is the main purpose of stage dramas to bring issues, such as the one mentioned above, and ideas about these issues to life through dramatic performances and the use of a number of various techniques. No Sugar, a revisionist text written by Jack Davis in 1985, is one of these stage dramas. Jack Davis brings issues and even expresses his own ideas about issues such as the injustices of Aboriginal treatment during the 1930's, to life in No Sugar very well because No Sugar is a revisionist text, and therefore offers a new perspective of an Aboriginal point of view, on events which occurred during the time of the issue at hand. No Sugar, the revisionist stage drama written by Jack Davis, is about the mistreatment of Aborigines in Australia during the 1930's. More specifically, it is about the Millimurra family, and their struggle against white ‘protection' and being treated like objects in their own land. The stage drama is mainly set in Northam, and Moore River, in Western Australia. Davis explored issues surrounding the treatment of Aborigines during this period, and reflects his own ideas about these issues. One issue that is highlighted about this period in No Sugar is how Aborigines were discriminated against, for no reason other than having coloured skin. An example of this is in Act One, Scene One, when Cissie is complaining because when her and her brother go to buy apples they get given bad, shrivelled up ones, and the white children get big, juicy ones. "Aw Mum, Old Tony the ding always sells us little s... ...f the depression and that many people are suffering from hunger and deprivation of many essential elements which make for a contended existence. But you in this small corner of the Empire are fortunate enough in being provided for with adequate food and shelter." Act IV. Sc. (v) Page 97. Using dialogue, Davis again shows to the highest degree the amount that Aborigines were disregarded and marginalised in society. Because the reader knows that Aborigines are underprovided, and have to steal and hunt for sufficient food, they see that, as stated by Jimmy, A.O. Neville is "talkin' outa his kwon" and completely disregarding the Aborigines as citizens of Australia. In his revisionary stage drama No Sugar Jack Davis has manipulated narrative and theatrical elements such as characterisation, symbolism and dialogue to present the plays many issues throughout the text.

Reactivity of Mg and Ca Essay

Introduction The aim of this practical is to observe the difference in the reactivity between Mg and Ca when hot and cold water is added. Hypothesis We think they will react in some kind of form. Variables The independent variable was the temperature of the water and also the quantity of metal use in the experiment and the dependent variable was the reaction. Equipment * Mg (s) * Ca (s) * Phenolphthalein * Beaker * Cold and hot water * Sandpaper * Test tubes with rack Procedure 1. The Magnesium was cleaned with sandpaper. 2. Two pieces of magnesium was put into two test tubes and two pieces of calcium was put into two test tubes. 3. Cold water was added into two test tubes one with calcium one with magnesium. 4. Two droplets of phenolphalein were added in each of the test tubes filled with cold water to observe the change in ph. 5. Water was heated over a Benson burner and poured into the two test tubes without water while observing the reactions. 6. Two droplets of phenolphalein were added in each of the test tubes filled with cold water to observe the change in ph. Observation Relative reactivity of Cold water Hot water Mg There was a minimum reaction. Fig. 1 There is a bigger reaction than with the cold water. Fig. 2 Ca The temperature of the water increases right away. Before we dropped the phenolphthalein the solution was white, fig.3, but after adding the phenolphthalein it turned pink, fig.4, which means that the reaction is basic. The temperature stayed the same but because the water was hot the reaction was more explosive and quicker. Before the phenolphthalein the solution was white, fig.3, and after dropping the phenolphthalein it turned pink, fig.4, which means that is a basic solution. Results Are your results in accordance with what you have learned about reactivity? Yes because calcium has more orbits the atom has the less energy it needs to give away electrons. In this case the atom that has more orbits is the calcium that is why it reacts more than the magnesium because calcium needs less energy to give electrons away. And the magnesium didn’t react much because it needs more energy that the one that we gave it. Write the balanced equation for the reaction between Mg and H2O: Mg (s) + H2O (l) MgO (s) + H2 (g) Uncertainties Other element might have been present. The hot water might have been heated more. Conclusion We learned that both magnesium and calcium is basic solutions because of the pink tint to the color. We also learned that calcium reacted faster than magnesium.

Lecture Coherence Examples Essay

Examples of paragraphs that shows coherence and unity: Example 1: This is a good example because it responds to the prompt in first person, the details are thoughtful and personal, and it follows the structure I’ve taught you very well. I slightly changed the topic sentence to make it connect better to the supporting sentence. I have also made some grammatical/vocab corrections so that you can focus on content and structure when you read. To get good grades in classes, I need to plan to do three things. First of all, listening carefully to the teacher in class makes me understand the lesson. If I listen carefully to what the teacher says, I can ask questions about things that I don’t understand. I can also do the right homework that the teacher assigned. Second, doing my homework every day makes me review the lesson from class. The homework helps me to practice many things from class. I can also find questions in the homework to ask the teacher that will make my English better. Third, making an effort to study gives me the will to learn. If I don’t make an effort, I will be lazy. The will to learn makes me try to finish the homework furst, and then I will let myself go out with my friends. Finally, I try to make a plan to get a good grade in class, and I will abide by it. Notice: The yellow topic sentence is echoed (but not repeated) in the yellow concluding sentence. The three green sentences introduce an idea (listening) and then gives more information about that idea. The three blue sentences introduce a second idea (homework) and then gives more information about that idea. The three pink sentences introduce a third idea (making the effort to study) and then gives more information about that idea. Notice the use of the transitions â€Å"first of all†, â€Å"second,† â€Å"third†, and â€Å"Finally.† Example 2: This is a good example because even though it responds to the prompt in second person, the details are again very thoughtful, and the paragraph has a strong structure. I have again made some grammatical/vocab corrections so that you can focus on content and structure when you read. There are some useful ways to get the grade you want in this class. Before the class, you must preview the lessons you will listen to tomorrow. Previewing is a perfect learning habit to help you improve your learning efficiency. After previewing, you can know what the teachers will teach the net day. Then you can listen to your teachers with the questions you found the day before. In the class, you have to listen to your teacher carefully. Your teachers are professional and dedicated, and they can solve all of your problems about your studies. Listening carefully can also help you to get more information or details about tests. You can also confirm the knowledge you are not sure about, and it is an important way to improve your grade. Practicing more after class is also an important part. More practice for grammar or writing can help you to memorize. Don’t be show – speak more English, and you will improve your speaking and listening. The more exercises you di, the higher grade you will get. If you want to get the grade you want in this class, do these things before, in, and after classes. Notice: The yellow topic sentence is echoed (but not repeated) in the yellow concluding sentence. The three green sentences introduce an idea (listening) and then gives more information about that idea. The three blue sentences introduce a second idea (homework) and then gives more information about that idea. The three pink sentences introduce a third idea (making the effort to study) and then gives more information about that idea. Notice the use of both time words and placement of time words as well as repeated words for transitions