Workforce Development and Management at Tesco

Workforce Development and Management at Tesco Working with and Leading People  (A Case Study of Tesco) Tesco is grocery store UK has declined to its lowest level for almost a decade that British consumers have defected to the German discount chains Aldi and Lidl to save money. Latest information on Kantar World Panel shows the market shares of Tesco rose from 28.7% in the 12 weeks to March 2. This is compared with 29.6% for a year and turns back the clock at the end of 2004, while the merchant was on the rise. Big four supermarket chains in the grocery market is facing pressure on the value of sales at the end of the while polarizes a flight discount Waitrose started to clean. Task 1: Be Able to use recruitment, selection and retention procedures 1.1. According to Barratt and Mottershead (2000), the part of the selection in the context of whether the candidate is suitable for the culture of the company. Even if a person demonstrates the social profiles of likes, dislikes and nature, it would be wrong to add, on the basis of the decision in an interview with a mere assumptions were collected in the profile. However, the interview is a quite acceptable, the question that is personality of the interviewee to match. To ask about your personal and professional values, they are in their career path and how they manage the values of the company in uncomfortable situations before shoot responses to match the vision. 2.2: The recruitment of a new candidate, the importance of legal and ethical regulations, cannot be ignored and it is wrong to believe that the employee has appeared on their first date, when recruitment is completed. Most companies require that satisfy the people that such a probation is for both parties, that there the employees pass. Recruitment is expensive and is designed to attract and retain the best talent, as soon as possible. A Tesco worker in your business processes and enables the individual to achieve the full productivity (and profitability). In addition, the registration should start everything before the employees? The welcome pack contains which is the need of a signature can be sent by mail, and current staff to develop a new employee is their first day-log-in on your computer, for example. Beyond expectations, workers is good for admission to the program will help the company meet their. If the employees of the company, the first impression is positive, they are more li kely to remain happy in the job and has less tendency to seek other employment. (Brindley and Buckley, 2004). 1.3: Finally, maintaining the commitment of workers is to maximize the work is very important, and people feel like they are valuable to the company and to show them that their career development has an important role to play. If a person feels that there are opportunities for advancement, and their skills are considered to be not only they work hard to stay motivated, committed and productive. The three steps described here show that the recruiting never truly expires. In order to attract the best employees, companies must constantly raise the company profile. These all affect how you see and start to see training, coaching or mentoring role and how to be seen and are related to the person who is coaching or training and guidance. Your mission is to help the person to learn and improve, do not create another version of yourself. 1.4: Hire of unskilled labour and the qualified person, the company is very simple. Companies are participating, is the source of recruitment of candidates or to place ads in magazines and then waiting for the candidates to contact them. Recruitment is the most complex business processes. But the complex is not necessarily a difficult task. Properly managed recruitment, it is necessary to introduce in three stages, the first beginning before the company decided to make may be rented, and after that the employee has voltage. ; When employees are on board, they should be treated, so who will be encouraged to promote business contacts in their circle. Recruitment targets can be rented, but the choice of who to make a positive statement of the company for several years. Task 2:Understand the Styles and impact of leadership 2.1.: Theories of leadership in naturalist Tesco was the first to develop. An example of the exception was Boudicca, Queen of the Icene of ancient Britain. The default value is not belief or such amount would not have been able to learn to know, but was naturally part of their genetic heritage. It was probably hereditary (or so everyone believed)! It is one of the reasons for which a decision or aristocratic families. The scientific method has been applied in psychology, study of human behavior in a new naturalistic approach to leadership theories emerged a trait theory. Trait leadership theory assumes that leaders born, does not. But he sought to identify the personality traits associated with the best leaders, will help you to understand the leadership and identify people who take the same traits could (assumed) make good leaders. Trait theory still has its supporters. Some psychometric tools are used to recruit leaders built the idea naturally or built in functionality (Charantimath, 2 006). 2.2: Leadership functional theories are based on very different assumptions. They focus on the leaders Here it is a short leap of faith that if someone can do something like this, while others can learn how do we are now world leaders are made, not born.Free team-building policies and game ideas can help you to plan and use the games and exercises for training sessions, meetings, workshops, seminars and conferences, adults, youth and children, work, education, or clubs and social activities and Team building activities, games, exercises and also to improve the organization of the project and the results expected and the benefits. We cannot accept responsibility for any liability, which is due to these ideas, free team or the games see warning below. Always make sure that games instead of team set up, which takes place of insurance and be especially careful when working with games for children, children and young people. 2.3.: Theories situational leadership was developed to find the good ways to adapt to the needs of the management actions in a variety of situations and conditions. The classical model of leadership is the situational capacity (or skills) and will (commitment and motivation) will lead to and then specify that the governing body following the best style. Other approaches suggest lifestyle management continued. Leadership style in this refers to a broad approach. Director of leadership style is often based on the beliefs of the Director, personality, experience, work environment and the situation at the time. Some of the leaders in the style of management jobs. Others are more flexible and adapted to the needs of different situations in the management of these theories of leadership became a management style, the notion of style. However, they focus a lot on the leader and the followers of the balance of powers. (Armstrong, 2008). 2.4: Autocratic leaders tend to make decisions and put them in others. They often believe that they are best placed to make decisions for the other power. These leaders have certain personality traits, such as the need for control of situations. Autocratic leadership is suitable for certain situations, such as in emergency situations, or time critical circumstances. But they tend to feed other people or to get the best results from your supporters, who are capable and motivated and Leaders participatory to consult and involve them in the decision-making process. They can make the final decision, but they are showing respect for the account of other consulting services, as well as the ability to listen. Starting points, the default value is that he appreciates generally supporters who reciprocate by being loyal and committed and participatory leadership to develop others and build a common direction leading to a common vision and common goals. Participatory leaders accept leadership as often facilitation style. In other words, they empower and encourage others to make decisions, Act and to function normally within the defined limits. Task 3:Be able to work effectively in a team 3.1.: Important team Tesco work can be neglected for the team, building games, exercises and activities available on this site Web.Construire of games, exercises and activities to help build the team, motivation, develop, improve group communication and is fun for consortia, organizations, children and even a celebration of childrens development and team building games, exercises and heats of action in meetings, conferences, training and make it easier to improve. (Armstrong and Baron, 2002) Free team-building policies and game ideas can help you to plan and use the games and exercises for training sessions, meetings, workshops, seminars and conferences, adults, youth and children, work, education, or clubs and social activities and Team building activities, games, exercises and also to improve the organization of the project and the results expected and the benefits. We cannot accept responsibility for any liability, which is due to these ideas, free team or the games see warning below. Always make sure that games instead of team set up, which takes place of insurance and be especially careful when working with games for children, children and young people. To the extent possible, the development of a top up by providing mentoring and promotion coaching (drawing-mis), which is very effective with excellent, a part of the production. With an appropriate guidance and counselling is used in the formal structure of the training anyway, but support can also be a great help to the development of the whole person, especially if the mentor or coach is regarded as a role model, special efforts. It is important that the leader to understand yourself well before the coach or train or mentor others to: 3.2.: Working in the Tesco is dependent on the leader and good team workmakes things happen, more than any other organization. Teamwork is encouraged to respect, encourage, inspire and management. The teams come from big clubs, when they decide to do it yourself, not because someone says so. Something to inspire them, perhaps, but ultimately decided the team. It is a team thing. It must be. The team says: OK . We will not be able to tell the difference. We have the best in what we do. Find each other and prosper in the American team. And we make sure we have a lot of fun with the whole team starts to move mountains. People are motivated by the best, if you can get them to plan and decide on action-ask-them. Second, you can get the front in the Organization, if the purpose is to develop your own possibilities to find exactly what they are doing and learning. Games can be boring or condescending to many people they want action that will help them to learn and to develop in areas that inter est them without worrying about work stuff please ask. When you ask people in general, you have a number of proposals which can be put in place a set of experiences that people or participate in turn during the day or in the team (workinfo.com, 13) (James, 2008) and (Armstrong, 2000 )). 3.3.: The effectiveness of the work of the team is to reach the objective is very important, and those who have specific skills or interests is, in fact, that among the workers they enjoy sharing with others activity good team can be built with many hobbies and interests. If you are planning a full day of activities throughout the day, games, the construction of the spirit of the group is the waste throughout the day. Find ways to offer an attractive combination of action and help them achieve and learn more about and perhaps the accumulation of forests focuses on one or two real challenges or the workshop . Maybe a little of your leadership in the planning of the day workers (or according to applicable ) the level of proficiency for the benefit of their development and it (Deb, 2006). 3.4.: Team building exercises and offers a wonderful opportunity of consciousness raises and the participation of ethical organizations. These modern business ideas and concepts for the sustainable development of the trade fair social responsibility, triple bottom line, love, compassion, humanity and spirituality, etc. is yet to be defined or understood: people are not aware of what has all means for them one at the time and the Organization as a whole, even if most people instinctively interested in the principles. Group tasks and discussions to help bring clarity and idealistic concepts, such as the ethical and social responsibility more effective than the theory of reading or trying to come up with a new idea of business to embrace the airy fairy, person, place and issued orders. A fundamental change is coming, with support from the top, of course, but the success is, at the end of an account successfully, because people recognize and see the change, it is not. Task 4: Be able to assess the work and development needs of individuals 4.1.: The importance of planning and follow-up, Tesco cannot be ignored and there is no limit to the development of training this is something that will help the person with ability in skills, confidence, tolerance, commitment, initiative, interpersonal relationships, understanding of self-control, motivation to grow (if you look at the really powerful people, perhaps they executives technicians, operators, attributes, in any role, which is particularly important in the properties are likely to be more inclined to good students. And skills, as well as available to the public, in order to ensure that processes are much more helpful Attitude includes features that require a different training and learning methods. The attitude is due to his thoughts, beliefs, emotional maturity, self-confidence and experience. It is the largest formation and the challenges of development, and there are better ways to achieve change and development, which has brought the people to the class room, or produce more than normal business or education, which may see a chore. 4.2.: For this reason, the teaching and learning has expanded well beyond the traditional courses of follow up the course. Be creative, innovative and an open mind, and you will see, learning, itself, is almost a new group or organization. If you want to make a difference, think about what helps really people to change. Managers and leaders in the education and training of their peoples and to develop the people, it will improve performance, raises morale; training and development of people with more health and productivity of the Organization and the effectiveness of the company. Director of ethics and behavior of the people at the top, that determines how productive, they will use their knowledge and skills. Training is nothing without the motivation to implement effectively. Strong ability to plan and manage your knowledge and skills, motivation and attitude, the acquisition, largely determines the way in which working people. To ensure that important, skills, techniques and knowledge have been trained, but to remember him is after most efforts of education and the resources to focus on these tools and processes to stop the training. Go after the help people grow and develop people as human beings humans. 4.3.: The Foundation of all that are experienced by all employees take for granted: the changes are; At the announcement of the grid. What is the holiday routine, a disease where the canteen; what is the dress code; the work is. New employees are also the mission of the Organization, objectives and philosophy; personnel practices, health and safety at work and, of course, they need eliminate methods, annexed and expectations. Administrations shall ensure that due to plan regular induction training is to provide to each new employee and all parties concerned, so that they can see what is happening and everything which is associated to the. Prepare and give the plan of induction, which is required for each of the new starter. Conclusion We can easily deduct from above to know its role is not defined as a human being or an organization, and because the companys policy could be developed for each of the reasons, to take their work and ask for the role, in addition to the requirements of the public authorities and, in addition, separately. You have insufficient skills? Companies need help or advice in areas of importance is to educate, coach, mentor for others? What is a style? How can communicate. These all affect how you see and start to see training, coaching or mentoring role and how to be seen and are related to the person who is coaching or training and guidance. Your mission is to help the person to learn and improve, do not create another version of yourself. When you understand your self, you understand, how can you understand the best way to communicate and how best to help others to grow and learn and develop. References: Allen, B, Holland, P., Dnonhue, R., Pyman, A. and Sheehan, C. (2012) Contemporary Issues and Challenges in HRM, 2nd ed. USA: The University Press Armstrong, M. (2006) A Handbook of Human Resource Management Practice. US: Kogan Page Limited. Armstrong, M. (2008) Strategic Human Resource Management: A Guide to Action. 4th ed. UK: Kogan Page. Armstrong, M. (2010) Armstrongs Essential Human Resource Management Practice: A Guide to PeopleManagement. UK: Kogan Page Limited Armstrong, M. and Baron, A. (2002) Strategic HRM: The Key to Improved Business Performance. UK:CIPD Aryee, S. And Budhwar, P. (2008) An Introduction to Strategic Human Resource Management. UK: CIPD Charantimath, P. (2006) Entrepreneurship Development and Small Business Enterprise. New Delhi, India: Dorling Kindersley (India) Pvt. Ltd. Cornelius, N. (2001) Human Resource Management: A Managerial Perspective. UK: Thomson Deb, T. (2006) Strategic Approach to Human Resource Management. New Delhi, India: Atlantic Publishers and Distributors. Dgaep.gov.pt. (2005) Human Resources management strategies to support organizational changes† online available at http://www.dgaep.gov.pt/media/0601010000/lux/hrmorgchanges.pdf [Accessed: 9th February, 2014] Dhar, R. (2008) Strategic Human Resource Management. New Delhi, India: Excel Books Durai, P. (2010) Human Resource Management. New Delhi, India: Dorling Kindersley (India) Pvt. Ltd. Macgregor, R. And McGeehan, L. (2010) Human Resources: Legislation in the Workplace. Online available at http://www.slideshare.net/MrMcGowan74/legislation-in-the-workplace [Accessed: 8th February, 2014] Pedler, M. (2008) Action Learning for Managers.UK: TJ International Ltd. Sims, R. (2007) Human Resource Management: Contemporary Issues, Challenges, and Opportunities. USA: Information Age Publishing Inc. Smallbusiness.com (2014) Five Components of a Human Resource Management System. Online available at http://smallbusiness.chron.com/five-components-human-resource-management-system-64231.html [Accessed: 7th February, 2014]

Air Asias Corporate and Business Strategies

Air Asias Corporate and Business Strategies Air Asia is a low cost air carrier that charges the lowest fares per kilometre in the world. A PESTLE analysis indicated that liberalisation of the air market has improved international market access and supported the growth in the number of airlines and passengers in East Asia. A five forces analysis indicates that the airline industry is highly competitive, with a high threat of new entries and of substitutes in the domestic travel market. Air Asia is positioned at the low cost end of the spectrum of competitors that fly internationally. A SWOT analysis indicated that Air Asia has strengths in management, operational efficiency and marketing, but has weaknesses in staffing, customer care, and attractiveness to business travellers. The airline has been successful because it has taken an entrepreneurial and innovative approach to the market, leveraging its competencies to create automated ticketing processes and to reduce other operational costs. The airline should consider expanding into Europe and western Asia using Abu Dhabi as a hub, which would require additional aircraft or joint ventures with other low cost carriers. The firm should also consider introducing business class flights that charge a higher price, but provide the services including convenient scheduling that can attract the business segment of the airline market in East Asia. 1.0 Introduction Air Asia is a low-cost air carrier providing service between its main hub in Kuala Lampur, Malaysia and destinations in East Asia. The airline also provides service to Abu Dhabi and London. Air Asia has adopted a generic strategy of cost leadership by reducing the cost of operations and passing the savings through to customers with very low ticket prices. The firm was founded in 1996 as a low cost domestic airline, and was purchased by Tony Fernandes in 2001. The firm was re-launched as a no-frills airline in 2001 with three aircraft. Air Asia entered the low-cost international market in 2003. The firm currently has revenues of $60 billion and provides services to 60 million customers a year. Air Asia is the first low cost airline to have formed a joint venture for the procurement of aircraft with a competitor, JetStar, which is based in Singapore (Quantas, 2010, 1). The airline currently has interlocking ownership through the Shin Corporation which holds a major equity position in b oth Air Asia and Thai Air Asia. The airline also holds a minority equity position of 30% of JetStar, which is a low cost Australian airline. 2.0 Environmental and Industry Analysis A PESTLE analysis provides an assessment of the industry environment, which is necessary to create a context for the airline industry analysis (Grant, 2008 p. 68). A Porters five forces analysis provides an indication of the competitive forces influencing rivalry in the airline industry. 2.1 PESTLE Analysis The PESTLE analysis is a qualitative evaluation of the political, economic, social, technological, legal, and environmental forces affecting the airline industry. The focus of the analysis is on the East Asian region, which is the primary market for Air Asia. Political: The trend is toward liberalisation of the airline markets in East Asia to allow airlines access to markets without the need for a specific bilateral agreement concerning air transportation between nations. An ASEAN open skies agreement, the Roadmap for Integration of Air Travel Services (2004) was ratified by member nations in 2007 and will be fully implemented by 2015. Nations in the region such as India and China that are not members of ASEAN are also liberalising air transportation regulations (OConnell Williams, 2006, p. 362). Economic: The rate of economic growth in the ASEAN nations is variable, with the ASEAN member nations experiencing a growth rate of only 1.5% in 2009 because of the global economic crisis. In contrast Chinas GDP grew at 8.9% in 2009 while Indias GDP grew at 6.8%. Economic growth in 2010 and beyond in the region is likely to be strong because East Asia has largely recovered from the global recession. Social: The social trend in East Asia is towards increased consumption including transportation consumption because of the economic growth in the region. Globalisation has also increased the propensity to travel in East Asia for both business and recreational purposes. The population in the region is also growing rapidly. Another social trend is the increased use of personal computing devices, which intersects with the technology drivers in the airline industry. Technological: The air transportation industry is technology-driven, with information technology used to enhance marketing and engineering technology used to improve safety. Airlines use information technology systems such as internet ticket sales, paperless tickets and automated check in systems to improve customer care while reducing cost of operations (Buhalis OConnor, 2005, p. 12). These systems are also used to maximise load capacity by controlling scheduling and use of aircraft. Legal: The nations in East Asia have various ownership and anti-competition laws that affect the ability of airlines to merge or to acquire an airline (Hsu Chang, 2005, p. 558). In addition some nations in the region have laws that affect the ability and the nature of joint venture agreements between domestic and foreign airlines. Environmental: The PESTLE analysis suggests that the implementation of the Open Skies agreement can increase access to markets for air carriers although the various national laws concerning ownership may hamper the use of a merger and acquisition strategy for expansion. The analysis also suggests that airlines implementing new technologies to improve customer care may enjoy a competitive advantage. The growing population and affluence in the region will produce greater demand for air transportation in the long run. 2.2 Five Forces Analysis The five forces analysis is an industry-based assessment of the factors driving competition to support the development of strategy (Peng, 2009, p. 35) (see Appendix A). If the competition in the industry is high, there is less likelihood that a firm in the industry such as Air Asia will gain competitive advantage through a strategic initiative. Buyer Power: Buyer power in the airline industry is weak because of fragmentation of buyers and the large numbers of potential buyers. The propensity of air travel in East Asia is relatively low compared to the global average of 2.0 trips per year, with India at .1 and China at .3 (OConnell Williams, 2006, p. 362). At the same time, the large size of the East Asian market results in sufficient travel to support a growing airline market. Buyer power is somewhat strengthened by low switching costs in the industry, with buyers able to chose among many different competing airlines. Buyers can be segmented into business travellers and recreational travellers with different price sensitivities. Business travellers value flight schedule and convenience in an airline with price often a secondary consideration. In contrast, recreational travellers are more sensitive to price and the cost of the airfare relative to the total cost of recreation (Talluri van Ryzan, 2004, p. 17). Supplier Power: Suppliers in the airline industry consist of aircraft manufacturers, producers of fuel, and airports, with the power of these groups moderate. The manufacturers of aircraft have moderate bargaining power because of the high cost to airlines for switching aircraft types because of the need to carry additional parts inventory. Aircraft manufacturers, however, pose no threat of credible integration. The producers of fuel have relatively strong bargaining power because oil prices are established by global markets with airline consumption representing only a small portion of oil industry sales. Airports have moderate bargaining power through their ability to provide airlines with gates and ground services. Although airlines changing airports in a destination region face high switching costs, the increased development of regional airports intended to reduce congestion at major airports reduces the bargaining power of airports because of gate fee competition (Hooper, 2002, p . 293). Threat of Substitutes: The threat of substitutes is high in domestic markets because consumers in East Asia prefer rail and road transportation that is less expensive than air travel whenever possible despite the increase in time for travel (OConnell Williams, 2006, p. 362). The threat of substitutes in international travel within the region is low because of the absence of viable substitutes. Overall, the threat of substitutes in the industry is moderate. Threat of Entry: The threat of entry is high in the industry. Although the cost of aircraft is high, a new firm can enter the market with only a few aircraft as Air Asia did in 2001. The liberalisation of the market environment is eliminating barriers to entry in the form of governmental restrictions on airline routes. As a result, a threat of entry also exists from established airlines from other regions seeking to expand routes in the East Asian region. Competitive Rivalry: Competitive rivalry is high in the industry because of a diversity of rivals, high cost of fixed assets and operations, low switching costs, and low levels of product differentiation. Many airlines compete in the East Asian market, each of which has different strategies and different brand reputations. As a result, price rivalry is characteristic of the industry. Aircraft are expensive to purchase and operate, with a high load capacity necessary to cover costs. Passengers can switch airlines at a relatively low cost despite the use of incentive programmes by some airlines to increase customer loyalty. While air transportation can be differentiated based on the level of amenities available to passengers, the fundamental attribute of transportation service is similar in all airlines. The five forces analysis suggests that the primary threat in the industry comes from competition among rivals, which is intensified by the possibility that new airlines will enter the East Asian markets. The analysis also suggests that opportunities may exist for smaller airlines to form strategic partnerships with other airlines to expand the schedule and destination options for passengers at a cost less than the amount necessary for direct investment in aircraft and terminal gate facilities. In the low cost segment of the industry, taking advantage of this opportunity would require Air Asia to adopt a strategy that restructured in the industry (Cockburn, Henderson, Stern, 2000, p. 1127). 2.3 Competitors and Competitor Groups Competitors in the airline industry can be divided into the two main groups of full service airlines and low cost airlines. Full service airlines are large firms that have been in the industry for an extended period of time, with many of these airlines enjoying a monopoly or quasi monopoly on certain national routes prior to the gradual liberalisation of the airline industry in the ASEAN market, with full liberalisation taking place by 2015. These major airlines often use a hub-and-spoke routing system in which short-haul feeder flights bring passengers to a hub airport for transfer to other aircraft for long-haul flights or for other short-haul flights to reach their final destination (Burghouwt and Veldhuis, 2006, p. 107). Airlines in this competitor group use a differentiation generic strategy based on frequent flight scheduling and use of airports conveniently located with respect to major urban centres, with a wider range of services justifying higher ticket prices. They also ha ve a wider range of destinations including transcontinental flights. Competitors in this group include Singapore Airlines, Air China, Malaysian Air, and Thai Airways International. The low cost group of competitors focus on flights taking passengers directly from the point of origin to their final destination, although transfers may be necessary to consolidate passengers and maximize capacity utilisation. Airlines in this competitor group are regional airlines with destinations limited to East Asia. There are numerous competitors in this group including Jet Star, Tiger, Value Air, Firefly, and Maswings. Appendix B shows the positioning of firms in the two competitor groups. 2.4 Developmental Stage of Market and Industry The air transportation market in the East Asian region is in the growth stage of development, which is characterised by a rapid rate of increase in sales (Inglada, Rey, Cote-Millan, 2006, p. 9). The economic growth in the region is allowing more individuals to afford air transportation, particularly for tourism. In addition, the increased commerce with the ASEAN region and with China as a result of the ASEAN Free Trade Agreement that was gradually implemented between 2004 and 2010 is producing higher commercial and business demand for air transportation between Southeast Asia and China (Wong Chan, 2004, p. 509). The low cost segment of the airline industry in East Asia can be viewed as at the point of emerging from the market penetration phase of growth. The low cost airline industry is comparatively new in East Asia, with independent airlines entering this market segment in 2001 (OConnell Williams, 2005, p. 260). Many of the firms in this segment of the industry can be considered prospectors using the Miles and Snow typology because they adopt strategies to use entrepreneurial skills for developing new types of services and have strong marketing competencies (Wratschko, 2009, p. 71). In contrast, the major air carrier segment of the industry can be considered mature, but undergoing a period of transformation because of the elimination to governmental regulations that had given many of these airlines a competitive advantage in routes and airport access. These airlines can be considered as defenders because they focus on retaining market share despite the instability in the market created by new market entrants such as low-cost airlines. 3.0 Resources and Capabilities In the resource-based theory of the firm, the resources and capabilities of the firm should be the foundation of the firms strategy. To use this approach, the firm assesses its resources, determines the capabilities that can provide it with competitive advantage, select a strategy that matches resources and capabilities with opportunities, and identify resource gaps that have to be filled (Grant, 1991, p. 115). A SWOT analysis can be used to identify the resources and capabilities of Air Asia and the way the firm can use these resources to take advantage of opportunities and counter threats (see Appendix C). A value chain analysis can provide an assessment of the areas in which Air Asia can add the most value for customers, which a gap analysis identifies the resources that Air Asia must acquire to implement a selected strategies. 3.1 Swot Analysis Strengths: Air Asia has a strong management team, with operations managed by an ex-Ryanair director with extensive experience in controlling expenses in a low cost airline (OConnell Williams, 2005, p. 264). The airline has a good technology infrastructure that supports very low cost of operations from its use of technology to automate customer processing and to maximise load on flights. The company also has strengths in operational cost containment through very low staff levels, lack of amenities on flights, and standardisation of aircraft which reduces expense for maintenance and parts inventory. Only 8% of the airlines passengers are business travellers, indicating that the cost leadership strategy has been successful in attracting the recreation segment of the market (OConnell Williams, 2005, p. 268). Another strength of the firm is its marketing competency, which has effectively designed and promoted a service targeted to the underserved low-cost no frills segment of the market . The airline has a breakeven load factor of only 52% and the worlds lowest airline unit cost of $.23 per passenger kilometre (OConnell Williams, 2005, p. 265). The airline also has a strong brand reputation in the market for offering low fares. The airline also has strong information technology competencies. Weaknesses: Air Asia has weaknesses in human resources, poor customer care in resolving complaints, and limited ability to attract business travellers. Because of its low cost approach to operations, the airline has lower staff levels than competitors. The lower staffing creates issues such as delays in turnaround time that result in delays in departures, with inadequate communications and support for delayed passengers. The airlines business model also reduces its ability to attract the business market that values flight scheduling, on time flights, and convenience. Air Asia uses only the A320 aircraft, which has a range of only 4,800 km with a full passenger load, which limits the destinations that the airline can serve (Airbus, 2010). Opportunities: Opportunities for Air Asia are providing expanded service in the growing East Asian airline market, opening new intercontinental routes, and forming joint ventures or other strategic alliances with competitors in markets not currently served by the airline. A significant overlooked opportunity in the region is the potential of tourism from Northeast Asia to Southeast Asia (Winter, 2007, p. 28). Smaller airlines can gain greater access to markets in the region through joint ventures and strategic alliances that allows airlines to code share, which involves transporting passengers using aircraft from two or more airlines. Threats: The primary threat for Air Asia is an increase in competition with some airlines adopting a similar operating model to Air Asia which reduces differentiation. A threat to the business model comes from cultural differences such as the preference of Indonesians to use heavy luggage that must be stowed in cargo compartments (The Low Cost, 2009). Another threat comes from the regulations in some nations setting minimum fares and airport usage limitations, which are not covered by the ASEAN Open Skies agreement. The airline is vulnerable to the threat of an increase in fuel prices and the possibility of disruptions to travel caused by terrorist attacks. The SWOT analysis indicates that Air Asias strengths in management, operational efficiency, marketing, and brand reputation would allow it to take advantage of the opportunities presented in the region from growth and tourism potential. These strengths could also support efforts to develop more intercontinental routes and joint ventures with competitors. The weaknesses of the airline in limited human resources and poor customer care could inhibit growth unless they are addressed. The weakness of insufficient staffing increases the firms vulnerability to the effect of cultural differences. At the same time, the firms strengths can help overcome the threats posed by increased competition. The airlines difficulty with attracting business passengers because of its business model may ultimately have a negative effect on its market share as business travel in the region increases. 3.3 Value Chain Analysis The value chain analysis disaggregates the activities of the firm to determine which activities add the most value to customers (Grant, 2008, p. 145). The inbound logistics segment of the chain involves purchase or leasing of aircraft, fuel, and gate space at airports, which add some value through reducing overhead and by providing convenient or desirable routes. The airline adds significant value to the customer in its operations, which has reduced costs to allow the fares to be the lowest in the world. This segment of the value chain, however, does not add value for customers who desire amenities or assistance from airline staff because of insufficient support from the human resources management function. Outbound logistics in the context of an airline involves factors such as airport turnaround time, which are related to operations. Marketing and sales also adds significant value to operations by the airlines ability to leverage its technology support function for internet ticket sales, paperless tickets and automated check-in. Because of the difficulties that the firm has with customer care and complaints, the after sales service segment reduces value for the customer. Based on this analysis, Air Asia adds primary value for customers in the operational and marketing segments of the value chain. 3.3 Gap Analysis Gap analysis involves determining the discrepancies between the current resources of the firm and the resources necessary to achieve the desired future state (Grant, 2008, p. 162). The generic future state for Air Asia is continued growth in its primary market in East Asia and expansion into secondary markets. To increase its share of the market in East Asia, Air Asia requires additional aircraft, additional staff, and additional access to airport gates. The airline has 78 planes available including aircraft owned by the firm and aircraft available through joint ventures, all of which are A320 models. Because these planes operate near capacity, additional aircraft would have to be acquired for expansion. To expand into intercontinental markets, the airline would also need larger aircraft with longer range. The firm would also require additional human resources to meet the operational and customer care needs with expansion, particularly to attract business customers. The analysis sugg ests that the firm does not have sufficient depth and breadth of resources to support expansion and must acquire additional resources. 3.4 Technical and Landscape Fitness of Air Asia Air Asia has high technical fitness, but only moderately high landscape fitness. Air Asia has developed and implemented a proprietary yield management system, computer reservation system, and enterprise resource planning system. In addition, the firm makes extensive use of a front-end internet interface with its backend computer systems to support online internet ticket purchases and paperless tickets. The technology systems are flexible enough to respond to any change in customer requirements, and have been a factor in promoting the acceptance of paperless tickets in Malaysia (Sulaiman, Ng, Mohezar, 2008, p. 149). Air Asia has been successful in attracting the low-cost segment of the market, but may not have sufficient flexibility to respond to a change in the environment such as a surge in business demand or a dramatic decrease in demand because of terrorist attack or high fuel prices. 3.5 Competitive Scenarios A likely competitive scenario is an increase in competition in the low cost segment of the East Asian airline market from new entrants and low cost subsidiaries of established major carriers. A FAR analysis of the scenario suggests that other carriers will adopt some of the functions used by Air Asia such as paperless ticketing, reduced staff level, and no amenities to become cost competitive. The assets required for these airlines to adopt this business model are generally available with their existing fleets of medium range aircraft. The risk posed by this scenario is Air Asias loss of competitive positioning as the lowest cost carrier in the market. 4.0 Conclusion The most likely reason for Air Asias success has been its willingness to risk using innovative strategies to reduce costs while maintaining profitability. The firm was a pioneer in the use of internet reservation and paperless tickets in the market, with its marketing overcoming any passenger reluctance to use the electronic systems. It has also adopted the innovative strategy in the low cost segment of the market of forming joint ventures with competitors to gain entry into new markets and to reduce operational costs. 4.1 Recommendations Air Asia should expand into the intercontinental market by using Abu Dhabi as a hub for routes in western Asia, North Africa, and Europe. From the Abu Dhabi hub, the airline could offer flights to India and Southeast Asia. The business model would continue to follow the cost leadership generic strategy. To implement this strategy, the airline would have to expand the size of its fleet, with the possibility of adding some wide body aircraft designed for long haul flights in addition to A320s. Funding could be obtained from a seasoned equity offering, with the airlines historic performance supporting the offering. The airline could also form code sharing relationships with low cost airlines in Europe and western Asia. This strategy would offset some of the airlines vulnerability from additional competitors using a low cost business model entering the East Asian market. Air Asia should offer some flights designated as business class that provide a wider range of services for business travellers at a higher price than its normal flights. This strategy would be intended to attract a higher percentage of business travellers. Implementing this strategy would require modified A320s to provide passengers with additional seating space and may require additional staff for customer care. The business class aircraft would have priority in operations for scheduling and turnaround to ensure that they remained on time. The airline would use its marketing competencies to differentiate between low cost fares and business class fares. This strategy would address the problem of low market share in the business segment of the market and diversify the market base if competition in the low cost segment increases.

Implant of Radio-frequency identification tags in human body has more pros than cons Essay

1.0 Introduction RFID is the wireless non-contact use of radio-frequency electromagnetic fields to transfer data. The purposes of automatically identifying and tracking tags attached to objects. Since RFID tags can be attached to clothing, possessions, or even implanted within people the possibility of reading personally-linked information without consent has raised privacy concerns. There are three types of RFID such as passive, semi-passive and active. For the passive RFID tags does not contain a battery, the power is supplied by the reader. When radio waves from the reader are encountered by passive RFID tag, the coiled antenna within the tag forms a magnetic field. For the semi-passive RFID tags are very similar to passive tags except for the addition of a small battery. This battery allows the tag IC to be constantly powered. Semi-passive RFID tags are faster in response and therefore stronger in reading ratio compared to passive tags. Therefore, the active RFID tag when it is equipped with a battery that can be used as a partial or complete source of power for the tag’s circuitry and antenna It may have longer range and larger memories than passive tags as well as the ability to store additional information sent by the transceiver. Radio Frequency Identification (RFID) technology for human implants and investigates the technological feasibility of such implants for locating and tracking persons or for remotely controlling human biological functions. A human microchip implant is an identifying integrated circuit device or RFID transponder encased in silicate glass and implanted in the body of a human being. A subdermal implant typically contains a unique ID number that can be linked to information contained in an external database, such as personal identification, physiological characteristics, health, medical history, medications, allergies, and contact information. A classical example of human identification based on RFID-implant is given by the VeriChip tag (11 mm long and about 1mm in diameter) which contains numerical code (identifiers) readable at 10 centimeters or less using a handheld reader. When illuminating by the low-frequency magnetic field (134 KHz) generated by the reader, the RFID tag powers itself up and transmits a 16-digit code that is unique to the tag. Recent developments in RFID technology have opened up new potential applications, where RFID devices are implanted in the human body for locating and tracking persons or for remotely controlling human biological functions. 2.0Content 2.1Medical field The primary goal of applying RFID technology in healthcare is to improve patient safety. First, RFID is a valuable tool for quickly retrieving patient information, allergies, and medication the patient is currently taking or medication a doctor will prescribe to the patient and monitoring patient location in hospitals so as to improve the accuracy of patient identification. Besides, microchip contains a unique identification number that emergency personnel may scan to immediately identify the patient and access his or her personal health information, thus facilitating appropriate treatment without delay. This is especially important for patients who suffer from conditions that may render them unconscious, confused, or unable to communicate. Doctors would also be able to decide the needed equipment and medication with minimal delay in an emergency case where every second is decisive. With the implanted chip, a RFID reader, and a wireless connection, a doctor or nurse can pull up the patient’s information, or even update the patient information in real time. Some benefits of this include less patient mix-up, being able to access the patient information in real time, and fewer mistakes due to human error during data recording. Productivity would increase since the doctors and nurses would not have to go to a computer to enter in the updated information. This would allow doctors and nurses to focus more on their professional duties Alzheimer disease, the most common form of dementia which has no cure till date, the most common symptoms is difficult to remember recent events. This has place great burden on caregivers as they have to constantly look after the patient, worrying them lose track in middle of nowhere. By implanting RFID tags in those patients, it is easy to identify and monitor the location and keep track of those patients with Alzheimer disease for their safety purposes. Alerting services can identify possible human errors and warn care providers in case of danger. For example, automatic sponge counting by RFID can avoid sponge left inside the patient body. 2.1.1Evidence 1) VeriChip, the company that hold the rights and patents to the implantable chip for humans, has sold 7,000 chips with 2,000 of which have been placed in people, according to Scott Silverman, chairman of Applied Digital, which owns VeriChip. The company’s present focus is tagging â€Å"high-risk† patients, such as those with diabetes, heart conditions or Alzheimer’s. (July 30, 2007) 2) According to a survey on employed professional and semi-professional people done in Pittsburgh, US, 62.5% of the total respondents (comprises of both sexes with equal votes) were willing to accept implants for medical reason 3) A number of RFID-related software applications were developed in Taiwan. Some of these applications focused on the use of radio frequency identification (RFID) technology to prevent spread of the severe acute respiratory syndrome (SARS) disease. These applications include computerized systems for monitoring the body temperature of healthcare personnel and patients with implanted RFID tag in the hospital, track potential virus carriers and, when necessary, map their movements throughout hospitals and keeping track of people under quarantine in facilities separate from hospitals. 4) Don Mackechnie, the chairman of the British Medical Association’s Accident and Emergency committee, and a consultant at the Rochdale Infirmary, said: â€Å"Such a device (RFID tag implantation) could prove very useful in a situation where we have an unconscious patient with an unknown medical history. 5) Twenty-five Alzheimer’s patients were implanted with radio frequency identification chips that can be linked to their medical records and be tracked if they are lost. The patients were implanted at the 2007 Alzheimer’s Educational Conference in West Palm Beach, Florida. The chips, from VeriChip Corp., Delray Beach, Calif., work with the vendor’s VeriMed Patient Identification System. Each chip contains a 16-digit identification number that is linked to a patient’s medical records in a database at the medical facility. Waving the vendor’s RFID reader over a patient implanted with a chip can capture the number. Emergency personnel can also use the scanner to identify patients. The event was sponsored by Alzheimer’s Community Care, a local provider organization. Those who elected to receive the chip are not part of VeriChip’s recently announced study with the organization, which will implant 200 Alzheimer’s patients and their caregivers with the chips. In the study, the patient’s medical record will include their Alzheimer’s diagnosis, related medications, caregiver contact information, and other information. 2.2Human Tracking A tracking function could aid authorities in locating missing people such as kidnapping victim. As the numbers of abduction are surging nowadays, RFID implant in human body become the most effective way to fight against this crime. RFID implant in human body can help the authorities to identify their location if they were kidnapped. In fact, RFID implants in children are gaining popularity in Latin American and Russian markets, where parents fear that their children may be kidnapped and are therefore willing to brand them electronically in the hope that it will make it easier to trace kidnapped victims. One of the current issues of the world is the escalating numbers of crime. Because of this, authorities may use RFID tracking chips to track fugitives, terrorists, criminals and more. For example, by implanting the RFID tag into the criminal body, it would be easy to track them if they escape by any means. This chip allows the authority to track back the fugitives easily as the tag will locate the location of the criminal. This implantation will certainly help to ensure the safety of citizens from escaped felons at all time. Besides, these tags are incredibly versatile and may help the lives of countless people with chronic medical problems as well as keeping track of the vulnerable members (extremely young and old) of our society. A vulnerable elderly need this tags because of disability to remember the way back home, age or illness, and may be unable to take care or protect themselves against significant harm or exploitation. So a tag on old people can let the authorities find back them easily. Furthermore, schools are taking advantage of biometrics and RFID technology, as they are cognizant of the increasingly more complex responsibility of keeping children accounted for and safe from arrival through after school programs to transport home. 2.2.1Evidence 1) A real case of implantation of RFID happened in Mexico. According to the 2011 Mexican congressional report, kidnappings have jumped 317 percent in the past five years. Surprisingly, one fifth of instances have involved police officers or soldiers, which leads to a mistrust of these authority figures. Thus, some of the Mexicans pay for the implantation of RFID to protect themselves, so that they could be tracked in the case of being kidnapped. They are now having themselves implanted with RFID tracking chips which can help them to be rescued. Xega, the Mexican company that sells the chips and performs the implants, says its sales have increased 40 percent in the past two years. The company says it has successfully helped rescue 178 clients in the past decade. 2) In Brazil, where Applied Digital has already signed a deal on 2004 to supply RFID tracking chips to distributors in Brazil to help them to fight against kidnapping. Government official says that the chips could be used to t rack down victims via satellite. 2.3Convenience With an RFID implant in the human body, shopping could be as easy as waving your hand and such routine tasks would take less time. The customer can automate the process by simply scanning their implanted chip and the business could match the customer and shipment numbers with the barcode number on the item that is to be returned. They would no longer need a receipt to do so and prevent unnecessary arguments. This new technology makes the purchasing function faster and more convenient. If a bank account or credit card account is linked to an implanted microchip, making a purchase would be extremely fast and safe. Consumers can also enjoy the peace of mind knowing that there is a greatly reduced change of having their â€Å"card† stolen because it would be imbedded in their hand. Perhaps by utilizing microchip implants banking/credit card applications, females would not have to carry a purse everywhere they go and in turn reduce the risk of theft and, thus, reducing identity theft and fraud, which also appeared to be an important issue to women. Moreover, employers are exploring the advantages of utilizing these technologies to ensure only those employees authorized can enter buildings, turn on lights, access computers, change office thermostat settings and operate specialized machinery safely and according to set standards based on a system that can authenticate those employees who meet the re-determined levels of permission. With the implantation of RFID chips, people could stop worrying about keys for their house and cars, the lock code of doors, computers, and much more. Kevin Warwick, a professor had a microelectrode array implanted in the median nerve fibers of his left arm that allowed him to develop a system that could connect his nervous system and a computer (Foster and Jaeger 45). Some people who had RFID chips implanted in their bodies have developed circuits that will allow them to start their cars by waving their hands near a reader (Foster and Jaeger 45). It would certainly reduce the cases of car stolen as the cars cannot be accessed by people other than the specified person. People can access all of their things with the single micro chips that they have implanted inside their body. 2.3.1Statistics Based on a survey done in Pittsburgh, USA, it was found that working professionals between the ages of 25 and 36 years will be more adaptable to the microchips implant technologies than other age groups. Numerous studies have also shown that younger people are more likely to adapt to this new technology, particularly those who fall in the age category of 25 to 36, since they are most likely representative of the younger well-educated professionals. 2.3.2Evidence 1) Baja Beach Club in Barcelona, Spain Launches Microchip Implantation for VIP members (first discotheque in the world to offer the VIP VeriChip) on 7 April, 2004 * Using an integrated (imbedded) microchip, the VIPS can identify themselves and pay for their food and drinks without the need for any kind of document (ID). Special zone at Baja beach Club where only VIPs are allowed contains various exclusive services for these members. Therefore, they won’t have to carry a wallet. By simply passing by our reader, the Baja beach Club will know who you are and what your credit balance is. From the moment of their implantation they will also have free entry and access to the VIP area The customers like the fact that they do not have to carry a credit card or ID card with them and with the VeriPay system, they no longer have to worry about their credit cards getting lost or stolen.† 2) 18 staff members of the Mexican Attorney General’s office have been implanted with the â€Å"Verichip† to control access to a data room * Mexico’s top federal prosecutors and investigators began receiving chip implants in their arms in November 2003 in order to get access to restricted areas inside the attorney general’s headquarters, said Antonio Aceves, general director of Solusat, the company that distributes the microchips in Mexico.† Although the technology can be out there to duplicate (a chip), but what can’t be stolen is the unique identification number and the information that is tied to that number†, said by director of RFID analysis at ABI Research Inc. based on theory that the chips could be as secure as existing RFID-based access control systems such as the contactless employee badges widely used in corporate and government facilities. Silverman said his company’s system is nevertheless safe because its chips can o nly be read by the company’s proprietary scanners. 2.4Customers Relationship Management Companies could track customers’ personal purchases and send promotional items personally tailored to their customers. This has the potential to be a safe and cost-effective way to improve marketing and customer services of companies. Hence, improving customer services is where the benefits are more apparent for implant. The second improvement to CRM identified is the improvement of dispute resolution through reverse logistics. With this technology, any purchases that are made in a store can be database and store for later recollection. For example, this may mean that if a customer needs to return an item they would no longer need a receipt to do so. The customer can automate the process by simply scanning their implanted chip and the business could match the customer and shipment numbers with the barcode number on the item that to be returned. This application of relatively inexpensive technology could stop the countless hours and aggravation that customer service managers spend on trying to accommodate consumer’s disputes. It would also get a great distance on stopping fraud and other scams that cost stores millions of dollars each year. If it is more difficult to forge documentation of a purchase then potential thieves would seek easier prey for customer fraud and theft. Besides, purchasing made by customers is faster by using RFID which will help companies work more efficiently and effectively. This will help company to reduce time and cost and improve company performances. Another important improvement that is identified in the conceptual model is the ability of this new technology to make the purchasing function faster and more convenient. If widespread acceptance could be achieved, there is a distinct possibility that credit and banking cards may become obsolete in the near future. If a bank account or credit card account is linked to an implanted microchip, making a purchase would be extremely fast and safe. This implication would serve credit card companies in its ability to stop credit card theft, since a relatively simple precaution may be used that invalidates the microchip if tampered with and forcibly removed. Huge savings may be realized if even small reductions in credit card and identity theft were possible. This enhanced security would allow credit card companies’ capital to increase the credit lines of their consumers and also potentially lower interest rates. 3.0Conclusion In conclusion, RFID applications can provide significant benefits to the healthcare industry to ensure patient safety, avoid medical errors as well as improve efficiency. In fact, healthcare is predicted to be one of the major growth areas for RFID. Besides, RFID can keep track of elderly, children and fugitives. This will help to prevent happening of crimes. Moreover, this new technology makes the purchasing function to be faster and more convenient. Lastly, service marketing indicatives could use standard CRM principles to properly track, treat, and order required products and services that personally identify the customer, the needed services, and the proper billing information for such services.

Motivation Techniques Essay

This essay will explain how groups are formed and will discuss how motivation techniques promote effective group work and a well motivated workforce. A group can be defined as â€Å"two or more freely interacting people with shared norms and goals and a common identity† (Kreitner, Kinicki and Buelens 1999). However there is no specific definition to the term ‘group’. Cartwright and Zander (1968) identified eight different definitions of the word all which represent a particular perspective on the most important characteristics of a group. Mullins (2005) states that â€Å"groups are deliberately planned and created by the management as part of the formal organisation structure.† Managers create formal groups to accomplish goals and serve the needs of the organisation. The main purpose of formal groups is to perform specific tasks and achieve specific objectives defined by the organisation. However informal groups are not formed or planned by the management. These develop naturally among employees through communication and interaction within the workplace. Informal groups tends to satisfy employees social needs, for example developing meaningful relationships with other people and obtaining and sharing important information. Tuckman’s (1965) suggests that a group normally has to pass through a five stages before it functions in an effective way. His theory focuses on the way which a team tackles a task from initial formation if the team through to the completion of the task. The five stages of Tuckman’s theory are forming, storming, and norming, performing and adjourning. At first stage the group get together and initially gets to know each other. Next stage the members become more aware of each other, they become more willing to bring their views into the open. There will be disagreements within the group about the task and the arrangements, which may lead to conflict. Norming is a stage where employees cooperate with each other and they tend to get their work done. In the next stage the group works well and gets on with their job to the required standard and achieves its objectives. The last stage of the Tuckman’s theory is adjouring, groups members usually disperse at this stage and they tend to reflect on the task that has been carried out. According to Cole (2004) â€Å"motivation is the term used to describe those processes, both instinctive and rational, by which people seek to satisfy the basic drivers, perceived needs and personal goals, which trigger human behaviour†. However Cook et al. (1997) stated another interpretation of motivation whereby it is â€Å"A conscious decision to perform one or more activities with greater effort then other competing activities.† Nowadays managers use motivation techniques in a number of ways, one that every manager commits themselves and set company goals for their employees to aim for. By doing this it identifies the purpose of their job. Motivation techniques that are likely to be used in the industries are, employee of the month schemes, where workers are recognised for their hard work. To increase motivation and group work within the childcare industry one should consider Herzberg’s Two Factor, which is hygiene and motivating factors. His theory hinges on the idea that people are motivated by the things that make them feel good about work. In childcare it is important to ensure hygiene factors such as the conditions the employees work in are satisfactory and comfortable along with security of having an acceptable amount of wage and benefits such as pension. Another way to motivate employees is by reinforcing them. Skinner’s theory simply states that the employee’s behaviour that leads to positive outcomes will be repeated (skinner 1953). Managers should positively reinforce employee behaviour that will lead them to positive outcomes. For example if the teacher has a plan for an activity, the manager should encourage the teacher to the activity or the play. By this he/she will feel valued and would like to make further contribution in other tasks. Some employees are quiet and some are loud. Despite people’s personality, everyone should have a say in discussion or at least be given the chance. Managers should be able to build up self esteem in their employees and for their employees to build up to their work colleagues. This effectively motivates the whole workforce. If there are new employees in the nursery and one is quicker in adapting things whereas the other one might take time to get used t new things and the environment. Managers should recognise this as not everyone is same in any workplace. It is important for a manager to recognise this and treat them same. Abraham Maslow is an early theorist who realised that people have more than just social and physical needs. He studied human motivation from which he then invented a theory of needs of hierarchy, with basic needs at the bottom and higher needs at the top. Maslow’s theory relates to the motivation techniques of today’s industry as it displays how managers to this day follow the same method of systematic movement up the hierarchy. Schools and community or day nurseries needs a stable environment in order to maintain a suitable place for employees to work in. To motivate staff into working, the surroundings are needs to have adequate lighting, warmth and shelter and free from threats as much as possible. For example people do not want to enter a working zone and feel threatened each day that they are going to be physically got hurt or even catch a cold when there is no heating in the workplace. This is manager’s job to ensure that every angle is covered so that their employees enjoy coming to work. Schools should have right teaching resources to motivate their staff. For example in the classroom a teacher should have a computer and all the equipments that he/she need for their lesson. These are the basic needs of any employee working in the early years that need to be met so they can work to their fullest potential. Another motivational technique to promote effective group work and a well-motivated workforce is communicating with employees. As suggested by the expectancy theory, workers expect some sort of reward as an outcome of the effort that they put in. It is vital that communication is a two-way action as not all people have the same incentives as mentioned before, one working in the childcare vocation may get to an advance whereas another may prefer the option to work in another group, such as a different year group or subject. So it is essential that one projects their desired needs in order for them to be met. However, a lack of communication can de-motivate employees and one should be careful to not send out misleading information. Managers who do not meet their demands as promised, causes a break-down in communication and trust, which will therefore lead on to cause motivational problems, but if managed to maintain this trust then they will be more valued, as will their decisions, upholding the employees will to co-operate. In conclusion this essay shows different ways how groups are formed and different types of groups such as formal and informal groups. There are many ways of motivating employees but employers should know that there are different ways of rewarding. Different theorists have different ways of explaining their techniques on motivating workforces.   

Stress

The stress analysis of a imple suspension system of car is done in this report which not only provides the reader with the stress calculations but also gives an insight of how proper stress analysis of real life problem can be done by using simple engineering formulas and techniques. Only one member of complete assembly is analyzed in ANSYS and the results were really promising. Acknowledgement:- We are thankful to Dr. Khalid Rehman for teaching us so well that we were able to do the stress analysis of a real life problem.Without his teachings nothing in this report could be done. We are thankful for his time and help which he always gave during time of any confusion or problem. 1 . Introduction†¦ 2 2. Problem 33. CAD Model Statement † 34. Manual Solution 7 4. 1. Force Analysis 7 4. 2. Stress Analysis ? 10 4. 3. Failure Analysis 11 4. 4. Deformation Analysis †¦.. 12 5. ANSYS Analysts 13 5. 1. Messing . 13 5. 2. Procedure 15 5. 3. Results 21 6. Conclusion 25 1.Introduc tion:- The deciding step that passes any particular design is its stress analysis which gives the designer an insight that particular design would work or not, whether or not the esign is feasible for fabrication or further improvements are required. Stress analysis of any design not only includes the basic force and stress calculation in members but also the failure, deformation analysis of the complete assembly. Stress analysis can be done manually or by using any CAD tool like ANSYS etc.The results obtained from both solutions should match each other but there is always variation in the results. The variations can be due to ideal approximations in the manual calculations or any other assumed data. The report includes the stress analysis of a imple suspension system of a car; various assumptions are being made which are mentioned in respective sections of the report. The solution was done both manually and by using ANSYS and the results were really promising. The report includes f orce and stress analysis, failure analysis and deformation calculations.The report not only provides the reader with the stress calculations but also gives an insight of how proper stress analysis of real life problem can be done by using simple engineering formulas and techniques. Stress analysis of a simple suspension system of car. 3. CAD model:- The first step of any design is to make its CAD model which in our case is done by using CREO VI . 0. The Cad models are shown as follows: (Fig 3. 1 complete assembly) (Fig 3. 2 complete assembly) The above fgures show the cad model of whole assembly. The individual member models are also shown below: (Fig 3. 4 Hub) (Fig 3. 5 Connecting arm) (Fig 3. 6 spring) (Fig 3. Suspension arm) 5. ANSYS 5. 1. Messing: The details are provided according to ANSYS 13. 0 Mechanical APDL. Mesh size: smart size 1 5. 1. 2. Element type: PLANE182 2-D 4-Node Structural Solid 5. 1. 3. Element Description PLANE182 is used for 2-D modeling of solid structures. The element can be used as either a plane element (plane stress, plane strain or generalized plane strain) or an axisymmetric element. It is defined by four nodes having two degrees of freedom at each node: translations in the nodal x and y directions. The element has plasticity, hyperelasticity, stress stiffening, large deflection, and large strain capabilities.It also has mixed formulation capability for simulating deformations of nearly incompressible elastoplastic materials, and fully incompressible hyperelastic materials. The geometry and node locations for this element are shown in Figure 182. 1. The element input data includes four nodes and the orthotropic material properties. The default element coordinate system is along global directions. Element loads are described in Node and Element Loads. Pressures may be input as surface loads on the element faces as shown by the circled numbers on Figure 182. 1. Positive pressures act into the element. 5. 1. 4.For triangular element s where the or enhanced strain formulations are pecified, degenerated shape functions and a conventional integration scheme are used. 5. 2. Procedure:- Filter GUI for analysis of structural members (Fig 5. 2. 1) Select element type plane quad 4 nodes 182 (Fig 5. 2. 2) Select Linear, Elastic and Isotropic material type (Fig 5. 2. 3) Input youngs modulus of elasticity and Poisson's ratio to define material in Ansys (Fig 5. 2. 4) Mesh the area using the finest mesh for accurate results (smart size 1) (Fig 5. 2. 5) Apply Pressure on line and Restrict DOF for some nodes at the center to compensate Stress Stress Stress is the body reaction to a change that requires a physical, mental or emotional adjustment or response and this in turn can be linked to other fact Oars in any sporting situation. Some people may become more aggressive and others may find that levels of arousal are increased. ; Excitement or suspense can lead to tension. If this is happens before taking part in the activity it can result in tightness in the muscles which then could have a physical effect. Anxiety can make you feel uneasy and apprehensive both before and during our performance.When you are too anxious you can make mistakes. Some find some level of anxiety necessary to focus and prepare. ; Nervousness can add to your tension levels, making you feel more tense and even agitated to the point where a physical effect can take place e. G being sick or shaking. ; Motivation will almost certainly decrease Nearly everyone who has taken part in a physical activity has experienced some type of stress. Stress is more common when the focus is on one person. Stress

Development of tourism in Scotland Essay

For a country to be a successful tourist destination, the normal impression that anybody has is that the country must be easy to access, with modern means of transport and good communication, unlike Scotland. A small country located on the periphery of Europe, Scotland is characteristic of tartans, highlands, mountains, castles and bagpipes etc, and for long, poor accessibility and transportation persisted in the country. Nevertheless, Scotland is among the most successful tourist destinations. Many have tried to bring about development of tourism in the country. The Scotts, in particular, were worried that the country’s inaccurate historic description might taint its image as a tourist destination. But little did they realize that in fact, portraying the country in modern perspective could cause considerable harm to its established image, which attracted a good number of visitors. [Butler, Richard. Tartan Mythology. 1998. p. 122. The traditional tourist image of Scotland. ] Besides the residents, the country saw noteworthy visitors, who contributed, directly or indirectly to its tourism development. The visitors can be distinguished into three groups—those from the field of military and administration, those involved in scientific studies and those who were engaged in works of music, art and literature. All these three groups had different approaches towards development in the country. The group involved in military and administrative activities was not directly related to the development initiative. However, their work involved a lot of traveling within the region. In their journals and writings, the group brought to light the difficulty in traveling in the region and the need for improving the transportation system there. Also, the scientific visitors wrote journals that described the physical features of Scotland and emphasized its historical heritage, which in turn, attracted more visitors. However, the group that comprised authors, and those involved in the works of art and music, was which made a significant impact on the development of Scotland’s tourism. Their approach was the most dominant and certainly the most effective. The works of renowned authors like Scott, Dickens, Wordsworth, just to name a few, described the country as a place with a romantic appeal. They gave vivid accounts of the scenery, the landscapes, the chivalry of the people and the military expeditions, which helped the country to establish a powerful image as a tourist destination. Not to forget one more group that did much to popularize the country—the absentee landlords and their friends. They engaged in sports like shooting and fishing that also made the country very popular and a coveted tourist destination. However, when more and more people started indulging in these sports, they were called off and Scotland remained a limited small tourist spot. [Butler, Richard. Tartan Mythology. 1998. p. 123-125. The traditional tourist image of Scotland. ] The development approaches resulted in improvement in many areas in the country like better communication and transportation facilities, better accommodation arrangements for tourists and the preserving of its natural heritage and culture, the established image of the country. The biggest strength of the development approach in Scotland is the realization that the tourists consider the natural heritage of the country as genuine and they are attracted to it because of its originality, unlike other places that are meretriciously ornamented. Only Development of tourism in Scotland 3 those who tried to fiddle with the traditional image of Scotland and try to portray it modernly reflect a weak approach towards its development. [Butler, Richard. Tartan Mythology. 1998. p. 132-135. The traditional tourist image of Scotland. Yes, the rising participation in adventure activities like skiing and wearing the highland dress, along with the popularity of golf rising significantly, reflect acknowledging of policies to sustain its image. If I were to manage its development, I too would go in for preserving its natural heritage so that visitors could get a real taste of the place. After all, tourists do come to have a bite of the place they visit and their nothing like getting a real taste of it! Reference citations Chapter 7: Butler, Richard: Tartan Mythology. 1998. The traditional tourist image of Scotland, p122-139.

Why We Celebrate Womens History Month In March

On February 28, 1980, President Jimmy Carter wrote: From the first settlers who came to our shores, from the first American Indian families who befriended them, men and women have worked together to build this Nation. Too often, the women were unsung and sometimes their contributions went unnoticed. These words, part of his message establishing the first Womens History Week in 1980, marked the beginning of a new chapter in American history; one in which recognition of women and their work, and the promotion of their rights became a more explicit concern. That initial effort was expanded in 1987, when March was designated as Womens History Month. The Beginning: Womens History Week In 1978 in California, the Education Task Force of the Sonoma County Commission on the Status of Women began a Womens History Week celebration. The week was chosen to coincide with International Womens Day, March 8. The response was positive. Schools began to host their own Womens History Week programs. The next year, leaders from the California group shared their project at a Womens History Institute at Sarah Lawrence College. Other participants not only determined to begin their own local Womens History Week projects, but agreed to support an effort to have Congress declare a national Womens History Week. Three years later, the United States Congress passed a resolution establishing National Womens History Week, which had ample bipartisan support. This recognition encouraged even wider participation in Womens History Week. Schools focused on special projects and exhibitions honoring women. Organizations sponsored talks on womens history. The National Womens History Project began distributing materials specifically designed to support Womens History Week, as well as materials to enhance the teaching of history through the year, to include notable women and womens experience. Womens History Month In 1987, at the request of the National Womens History Project, Congress expanded the week to a month, and the U.S. Congress has issued a resolution every year since then, with wide support, for Womens History Month. The U.S. President has issued each year a proclamation of Womens History Month. To further extend the inclusion of womens history in the history curriculum (and in everyday consciousness of history), the Presidents Commission on the Celebration of Women in History in America met through the 1990s. One result has been the effort towards establishing a National Museum of Womens History for the Washington, D.C., area, where it would join other museums such as the American History Museum. The purpose of Womens History Month is to increase consciousness and knowledge of womens history: to take one month of the year to remember the contributions of notable and ordinary women, in hopes that the day will soon come when its impossible to teach or learn history without remembering these contributions. Sources National Womens History Week Statement by the President. February 28, 1980.

Stock And Works In Progress General Practice Finance Essay - Free Essay Example

Sample details Pages: 10 Words: 3131 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Matching Principle stock unsold at the balance sheet date is carried forward into the next period and matched against the revenue when sold instead of being charged immediately to the Profit and Loss account which would diminish the Operating Profit. Consistency the method of valuing stock must be consistent from one year to another and any deviations explained, as they will directly affect operating profit. Valuation the stock must be valued accurately. Don’t waste time! Our writers will create an original "Stock And Works In Progress General Practice Finance Essay" essay for you Create order Obsolete stock should be written off against profit and not carried forward. Diminished value stock should be written down accordingly. In dealing with Inventory, where stock is continuously purchased over the accounting period at different prices, a choice two systems prevail: First in First Out (FI-FO) i.e. the stock carried forward is the latest purchased reflects good storemanship. Weighted Average i.e. the amounts purchased in the period and used in the period are weighted against their respective prices and an Average or Weighted price used for the period. Retail Companies Stock is purchased at a stated figure and sold at a stated figure, the difference is trading profit. The stock sold minus stock purchased seldom equals stock held due to losses by theft and spoiling etc. Thus the need for regular stock-taking and re-valuation of stock in hand. Large groups of outlets can suffer excessive pilfering and manipulation of stock values, for this reason they value stock at its standard store selling price: Theoretical Closing Stock at selling price = Opening Stock at Selling Price + Deliveries at selling price Takings (sales) The Theoretical Closing Stock may then be compared and adjusted to the Actual Stock, with the losses written off accordingly. The final Stock Value at selling price is then reduced by a standard margin to arrive at the Stock Value in the accounts. Stock in Manufacturing Business Can significantly affect operating profit. Manufacturing business has: Variable costs of production materials used, wages, consumption of power etc. Fixed costs of production lease costs on factory, rent, lighting etc Fixed and variable costs of management, distribution, marketing, etc. Accounting policy may allow a stock valuation and WIP valuation of completed and near completed goods to be based on a) and b) but would not include c). Cost of Stock in the accounts It is normal for a stock taking exercise to be conducted at the end of one accounting period to provide a closing stock figure and a corresponding opening stock figure. The opening stock is put into the new trading account / profit and loss account. New stock purchase values over the period are added, values of stock sales are deducted, and the closing stock is determined less losses. The closing stock is an asset and is taken to the balance sheet. Cost of Closing stock = Cost of Opening stock + cost of goods purchased cost of goods sold in the period. For most business, the closing stock is physically counted and a cost determined. The Closing stock is an asset and is taken with the net profit to the balance sheet. Example: The importance of correct stock valuation  £000  £000 Sales 2,000 Cost of Goods Sold: Opening Stock 600 Purchases in period 1,500 2,100 Closing Stock (to B/S) 400 1,700 Gross Profit 300 Wages, overheads, etc 200 Operating Profit 100 Note: if the Opening Stock was overstated by 10% to 660,000 and the closing stock understated by 10% to 360,000, the profit would be wiped out The closing stock of  £400,000 is an asset and is taken to the balance sheet. Example: Taxation on increased stock valuation: Assume the stock when purchased cost  £1,000,000 but due to inflation the company believes it is now worth  £1,100,000. The additional  £100,000 would increase taxable profit by  £100,000 and create an additional taxation demand of 100,000 times the percentage rate of tax (20% x  £100,000 =  £20,000). Alternatively, if the company had a taxable profit of say  £250,000, but prior to the final account, purchased an asset for say  £150,000 and took it into stock without doing any work on it, then the taxable profit may fall to  £100,000, reducing the tax demand, but the following year if the asset is sold on for say  £120,000, then tax will be due on the  £120,000 less expenses tax is delayed but not removed by such manipulation. Over valuing stocks e.g. land In property, as in other goods, expected price increases can cause an over valuation of stock. E.g. land and house prices may have risen 10% p.a year on year. A developer may have many millions in land stocks and several millions in WIP or completed houses. These could be valued up in anticipation of a further 10% rise in the market and to boost profits in a difficult year. However, in the following period changes in the economy, or stamp duty, or interest rates may cause a flattening of the market and a consequent increase in the time taken to sell property, causing increased interest charges , marketing and sales costs etc. A reduction in working capital may force the developer to attempt to sell over valued land stocks into a market experiencing a depressed demand. Subsequent right down of land values may cause significant losses to be recorded in the following year. This standard is at the heart of the Quantity Surveyors work in Cost and Value Reconciliation (see CORP 35 for more detailed information). Stock It has been seen that Stock normally represents a significant amount in a businesss balance sheet. Over or under valuation can result in material distortions of profit and tax positions. One of the major problems for independent auditors is establishing a true and fair value for stocks. Stocks comprise: Goods or other assets purchased for resale; Consumable stores; Raw materials and components purchased for incorporation into products for sale; Products and services in progress; Long term contract balances; Finished goods Matching Principle Fundamental is the matching of cost and revenue in the year in which the revenue arises, rather than in the year that the cost is incurred. If the revenue anticipated to arise (i.e. the net realisable value) is less than the cost incurred, then the irrecoverable cost (i.e. the loss) should be written off to revenue in the year under review. This could happen due to obsolescen ce, deterioration or lowered demand. Cost To determine the lower of net realisable value and cost, a consistent approach must be applied. The principle is, or method used should, provide the fairest possible approximation to the expenditure actually incurred in bringing the product to its present location and condition. The cost of an article is the purchase cost plus any further delivery charges, import duty etc less discounts etc. However, some businesses buy and sell multiples of the same item purchased at different times at different prices. Here it may be permissible to use the FIFO Rule (first in first out i.e. the earlier stock is assumed to be sold first which is normal in retail and so the later band variation of purchase cost apply). Specific difficulty arises in valuing stock upon which all or some work has been performed by the entity. Example: Purchased steel stock is extruded into standard glazing bars which are then galvanised before dispatch. Three catagories of stock arise: un-fabricated steel stock, fabricated bars before galvanising, and galvanised stock. For the un-fabricated steel stock, the cost is the purchase price plus delivery and handling costs (plus buying costs if not a general overhead) less discount. For the galvanised stock, the purchase price of steel, plus delivery, less discount, plus the cost of direct expense in fabrication and in the case of the galvanising, the subcontract cost of galvanising, plus an addition for production overheads (not general overheads). Production Overhead difficulty arises in establishing that part of total production overhead to be attributed to each batch of glazing bars being valued. This should be established based on the normal annual through put of components e.g. cost per tonne fabricated based on average annual tonnage. In some businesses (large retai l chains) the only way to establish the cost is the selling price less the gross margin but this is in general not a universally accepted method. The Standard provides an appendix to discuss techniques of acceptable stock valuation and those which it considers are not acceptable. In summary, Cost of Purchase includes the purchase price, import duty, transport, handling costs etc less trade discounts. Cost of conversion includes: Costs directly attributable to units of production, e.g. direct labour, direct expenses and sub-contracted work; Production overheads; Other overheads, if any, attributable to bringing the product or service to its present location and condition. Production Overheads are those which accrue in respect of materials, labour and services for production, based on the normal level of activity taken one year with another. It is recommended to group overheads into function groups i.e. production, purchasing, selling, administration, and inclu de them as they apply to the circumstance. Depreciation of stock may also be considered. All abnormal costs or inflated overhead allocation due to e.g. a failing market, abnormal spoilage, idle capacity etc. are not to be included. Net realisable Value is calculated as the actual or estimated selling price net of trade discount (not net of settlement discount) less: All further costs to completion; and All costs to be incurred in marketing, selling and distributing. Methods of Costing: Unit Cost cost of making an identifiable unit of stock. Average Cost total cost of making a number or range of units divided by the total number of units. FIFO the assumption that stocks in hand represent the latest stock purchased or produced Standard Costs using predetermined costs calculated from managements estimates of expected levels of cost (must be reviewed regularly to ensure the standard cost bears a reasonable relationship to actual costs). The following are generally not acceptable: LIFO earlier cost may not reflect current stock cost. Replacement cost only in very exceptional circumstances see standard appendix. Selling price less estimated profit only if it can be shown to give a reasonable estimation of actual cost. Latest purchase price may not be the same as the actual cost of the stock item. Works in Progress Work in Progress is a type of stock, i.e. stock upon which work is being undertaken. Most accounts will group Stock and Works in Progress together and then provide a separate schedule grouping the different types of stock and work in progress and their relative value. In accounts, Opening Stock is normally stated and added to purchases to give a total value for the period, from which is deducted a value for closing stock. This gives the amount of stock used or sold in the period relative to Sales or Turnover. Opening Work in Progress and closing Work in Progress can be entered in a similar manner. An alternative, which avoids negative numbers when closing stock is larger than opening stock, is to state the opening stock to the left of the Profit and Loss Account and the Closing Stock under the Sales or Turnover figure, as if the Closing Stock was sold to the owner. Work in Progress is entered net of any profit because profit has not yet been realised. In Construction and manufacturing work in progress values can be very considerable sums affecting profitability and taxation. Many contracts will run over considerable periods of time and payments may be made on an Interim basis. It would therefore be unreasonable to continue to purchase labour and material in terms of work continually in progress and receive interim payments without taking some profit into account within each financial year. SAPP 9 allows for an attributable profit to be taken into the accounts in order to give a realistic picture of the affairs of the firm under certain prudent circumstances. The basic rule is that if a profit cannot be forecast with reasonable accuracy, no profit is admitted to the accounts until the work is completed or a profit can be forecast with reasonable certainty. Where a profit can be forecast, a conservative attributable profit may be included. If this were not the case, profits would only be accounted for when long term contracts were actually completed and the profit realised, causing surges in the profit figures from one year to the next. This has been a reason for Construction Company share values trading at a discount because of risk, uncertainty and a lack of stability in year on year returns. Long Term Contracts This is a very important part of construction accounting and is discussed in full in CORP 35. The following is the basis of accounting for profit on long term contracts. Definition: A contract entered into for the design, manufacture or construction of a single substantial asset or provision of a serviceÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦ÃƒÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦..where the time taken substantially to complete the contract is such that the contract activity falls into different accounting periods. A contract that is required to be accounted for as a long term by this standard is will usually extend for a period exceeding one year. However, a duration exceeding one year is not an essential feature of a long term contract. Some contracts with shorter duration than one year should be accounted for as long term contracts if they are sufficiently material to the activity of the period that not to record turnover and attributable profit would lead to a distortion of the periods turnover and results such that the financial statements would not give a true and fair view, provided that the policy is applied consistently within the reporting entity and year to year. The normal principle is that profit is only recognised and brought into the accounts when it is certain, and this is normally when the contract is substantially complete. Such profit may be reduced by provisions to allow for possible expense of e.g. finalising the account or remedial works. Thus most construction contracts do not report profit until the contract is complete. Where a contract programme covers more than one accounting period and the contract expenditure and interim payments may be substantial, then material distortion may arise when zero profit is reported in one period against a material expenditure and total profit is reported in another period against a possibly lower expenditure. Where a company has contracts which come under the definition above; and: their outcome can be assessed with reasonable certainty before their conclusion, the standard allows it to record a proportion of turnover and profit arising while the contract is in progress. Such prof it calculated on a prudent basis and take account of any inequality in profit forecast for each stage of the contract. An appropriate proportion of the turnover may be taken into the accounts but matched by the relevant costs. Where the profit is uncertain (most construction contracts) then no profit is taken into the Profit and Loss account until it is certain. If no loss is expected, but the profit is uncertain, then it may be appropriate to take the proportion of turnover into the account against a zero profit margin. However, in every case, losses must be fully accounted for in the period that they are foreseen, not when they occur. Thus if a loss is anticipated at a future date it must be recognised and a provision made in the current account. Where the foreseen loss is significant to the performance of the company as a whole and may cause significant overhead to be diverted to its containment, then addition provision may need to be made to account for that overh ead expense. The accounting treatment of long-term contracts can be summarised as follows: Long term contracts should be assessed on a contract by contract basis and reflected in the profit and loss account by recording turnover and related cost as contract activity progresses. Turnover is ascertained in a manner appropriate to the stage of completion of the contract, the business and the industry in which it operates. Where it can be considered that the outcome of a long-term contract can be assessed with reasonable certainty before its conclusion, the prudently calculated attributable profit should be recognised in the profit and loss account as the difference between the reported turnover and related costs for that contract. Attributable profit that part of total profit currently estimated to arise over the duration of the contract, after allowing for likely estimated remedial and maintenance costs and increases in costs so far as not recoverable under the terms of the contract, that fairly reflects the profit attributable to that part of the work performed at the accounting date. (there can be no attributable profit until the profit outcome can be determined with reasonable certainty). Foreseeable losses losses which are currently estimated to arise over the duration of the contract, allowing for estimates of remedial, maintenance and increased costs not recoverable under the contract terms. The estimate of loss is required to be entered as a provision: whether or not the work has commenced; the proportion of work carried out at the accounting date; the amount of profits expected to arise on other contracts. Rule applied If a Long-Term Contract is incomplete at the end of the accounting period and it is reasonably certain it will yield a profit, then the portion of that profit which is attributable to the work done to date may be recognised in the profit and loss account. This is achieved by: Crediting Profit and Loss Account with the recorded turnover to date (typically the amount certified by the Architect being t he value of the work done) and; Debiting profit and loss account with the related costs (i.e. the costs incurred to date which relate to the recorded turnover). Any remaining costs incurred to date are shown as work in progress on the balance sheet. If a long term contract is incomplete at the end of an accounting period and the contract is expected to yield an overall loss, the whole of this loss should be provided for immediately. This is achieved by deducting the amount of the anticipated loss when calculating the value of the work in progress at the end of the accounting period. (Melville A.) We can break the figures down into parts as follows: The contractor has a turnover valuation of  £3.0 million in total certified by the Architect. The costs matched against this  £3.0m in turnover amount to  £1.8 million. The contractor has invoiced and is owed  £2.4m to-date and has a further receivable pending of (3.0-2.4 = 0.6),  £0.6m. So the amount imm ediately owed is 2.4 (Debtors) and a Long Term Balance receivable of  £0.6m. The total costs amounting on the contract are  £2.0m. So the costs to be matched against future Invoices amount to (2.0-1.8 = 0.2)  £0.2 million and constitute WIP/Stock at cost.