Financial Management of Goldman Sachs

To ensure adequate returns to the shareholders which will depend upon the earning capacity, market price of the share, expectations of the shareholders. 3. To ensure optimum funds utilization. Once the funds are procured, they should be utilized in maximum possible way at least cost. 4. To ensure safety on investment, i. e, funds should be invested in safe ventures so that adequate rate of return can be achieved. 5. To plan a sound capital structure-There should be sound and fair composition of capital so that a balance is maintained between debt and equity capital.Functions of Financial Management: 1. Estimation of capital requirements: A finance manager has to make estimation with regards to capital requirements of the company. This will depend upon expected costs and profits and future programmes and policies of a concern. Estimations have to be made in an adequate manner which increases earning capacity of enterprise. 2. Determination of capital composition: Once the estimation h ave been made, the capital structure have to be decided. This involves short- term and long- term debt equity analysis.This will depend upon the proportion of equity capital a company is possessing and additional funds which have to be raised from outside parties. 3. Choice of sources of funds: For additional funds to be procured, a company has many choices like- a. Issue of shares and debentures b. Loans to be taken from banks and financial institutions c. Public deposits to be drawn like in form of bonds. Choice of factor will depend on relative merits and demerits of each source and period of financing. 4.Investment of funds: The finance manager has to decide to allocate funds into profitable ventures so that there is safety on investment and regular returns is possible. 5. Disposal of surplus: The net profits decision have to be made by the finance manager. This can be done in two ways: d. Dividend declaration – It includes identifying the rate of dividends and other bene fits like bonus. e. Retained profits – The volume has to be decided which will depend upon expansional, innovational, diversification plans of the company. 6.Management of cash: Finance manager has to make decisions with regards to cash management. Cash is required for many purposes like payment of wages and salaries, payment of electricity and water bills, payment to creditors, meeting current liabilities, maintainance of enough stock, purchase of raw materials, etc. 7. Financial controls: The finance manager has not only to plan, procure and utilize the funds but he also has to exercise control over finances. This can be done through many techniques like ratio analysis, financial forecasting, cost and profit control, etc.Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. When we use the terms â€Å"Goldman Sachs,† â€Å"the firm,† â€Å"we,† â€Å"us† and â€Å"our,† we mean The Goldman Sachs Group, Inc. (Group Inc. ), a Delaware corporation, and its consolidated subsidiaries. References to â€Å"this Form 10-K† are to our Annual Report on Form 10-K for the fiscal year ended December 31, 2011.All references to 2011, 2010 and 2009 refer to our fiscal years ended, or the dates, as the context requires, December 31, 2011, December 31, 2010 and December 31, 2009, respectively. Group Inc. is a bank holding company and a financial holding company regulated by the Board of Governors of the Federal Reserve System (Federal Reserve Board). Our U. S. depository institution subsidiary, Goldman Sachs Bank USA (GS Bank USA), is a New York State-chartered bank. As of December 2011, we had offices in over 30 countries and 48% of our total staff was based outside the Americas (which includes the countries in North and South America).Our clients are located worldwide, and we are an active participant in financial markets around the world. In 2011, we generated 38% of our net revenues outside the Americas. BUSINESS PRINCIPLE Our clients’ interests always come first. Our experience shows that if we serve our clients well, our own success will follow. Our assets are our people, capital and reputation. If any of these is ever diminished, the last is the most difficult to restore. We are dedicated to complying fully with the letter and spirit of the laws, rules and ethical principles that govern us.Our continued success depends upon unswerving adherence to this standard. Our goal is to provide superior returns to our shareholders. Profitability is critical to achieving superior returns, building our capital, and attracting and keeping our best people. Significant employee stock owinership aligns the interests of our employees and our shareholders. We take great pride in th e professional quality of our work. We have an uncompromising determination to achieve excellence in everything we undertake. Though we may be involved in a wide vvariety and heavy volume of aactivity, we would, if it came to a choice, rather be best than biggest.We stress creativity and imagination in everything we do. While recognizing that the old way may still be the best way, we constantly strive to find a better solution to a client’s problems. We pride ourselves on having pioneered many of the practices and techniques that have become standard in the industry. We make an unusual effort to identify and recruit the very best person for every job. Although our activities are measured in billions of dollars, we select our people one by one. In a service business, we know that without the best people, we cannot be the best firm.We offer our people the oopportunity to move ahead more rapidly than is possible at most other places. Advancement depends on merit and we have yet to find the limits to the responsibility our best people are able to assume. For us to be successful, our men and women must reflect the diversity of the communities and cultures in which we operate. That mearns we must attract, retain and motivate people from many backgrounds and perspectives. Being diverse is not optional; it is what we must be. We stress teamwork in everything we do. While individual creativity is always encouraged, we have found that team effort often produces the best results.

Uncle essays

Uncle essays Uncle escaped. He took a handgun and descended into the cellar, and the air resonated with the muffled sounds of a car backfiring. I hardly knew either of them, he or Auntie. Daddy said he did it to get away from her. That may be. Anyway, he left a fortune. A million, Daddy said, at a time when a new Cadillac could be had for less than four Today a Caddy is forty grand, Auntie is polluting the soil, my hair is silver, and I can say with neither boast nor shame, that I have not known another human critter whom I yet despise. Sitting at this keyboard, I cannot name another. Surely one exists, I'm not that angelic, but I can't produce one at the moment. This is not owing to faulty memory; something much more splendid, and no credit to me. But Auntie wronged Mom. A wretched soul, she wronged others, too; others whom I love. Those happenings I've dismissed. But not Mom's. We were the poor kin, the black sheep, victims of Daddy's wanderlust. Poverty earns you that status when the others have money. And now an injury prevented Daddy working, so Mom accepted the role of breadwinner with the same grace and humor that she accepted all of life. She must provide a house and food, car and clothes for a family of five. And she did. For years, she hunkered over a sewing machine in a dimly lit corner of a dry cleaners for fifty-two cents an hour. She made our shirts and the patches for our jeans. Patched, but clean and ironed The house, a recycled army barracks, had neither inside walls, nor plumbing, at first, but it was home. Tonight's beans and potatoes vary from last nights only in the way they are prepared. Hey wait! These are last night's. I knew that. Though the youngest, and a male, I was assigned the evening meals ... and helping Mom wash at the old I surprised her once. I had the washing done and hanging on the line. ...

How Theories Obstruct Or Assist Practice Social Work Essays

How Theories Obstruct Or Assist Practice Social Work Essays How Theories Obstruct Or Assist Practice Social Work Essay How Theories Obstruct Or Assist Practice Social Work Essay A demand for Social Work Training is to guarantee that the instruction of theoretical cognition, accomplishments and values is based on [ pupils ] application to pattern ( NHS, 2002 p.3 ) . In response to the decease of babe Peter, the Social Work Taskforce published 15 recommendations including societal work grades necessitating a greater focal point on associating theory to pattern ( DCSF, 2009 p.18 ) . This increased accent between theory and pattern, will be considered in this essay, by discoursing if theories of human growing and development obstruct or help societal workers pattern. It is of import to recognize that there are a huge sum of human growing and development theories, which cover the life span, although one premise is that they merely relate to childhood. This essay, in sing how theories obstruct or assist pattern, will pull on those associating to working with older people. To clear up, this essay will utilize the word theory to intend both grand theories ( those borrowed from other subjects such as psychological science, sociology etc ) and middle scope theories ( those which combine the expansive theories with pattern experience ) ( Wilson et al, 2008 pp.106-107 ) . The history of societal work is helpful in understanding how theory became relevant for pattern. The 19th century industrial revolution impacted on the community constructions, which led to concerns over societal agitation and upset. These concerns influenced the growing of the societal scientific disciplines with the thought being to understand and alter society. Howe provinces, as new theories and accounts of human behavior were generated by psychologists, so new societal work theories and patterns arose ( Howe, 2009 p.17 ) . The Charity Organisation Society ( COS ) , founded in 1869, embraced the psychological theories in their charitable work. COS ab initio resisted any formal instruction for charity workers preferring supervising in the occupation. However, concerns over the criterion of staff and the impact of the occupation on them, together with the desire to be recognised as professionals in the societal field initiated them to put up formal societal work instruction ( Howe, 2009 ; Payne, 2005b ; Jones, 1996 p.191 ) . The value of learning human growing and development theories to societal work pupils is still recognised today in university classs. Teaching on theory is included in the instruction as it is seen to legalize societal work, giving the societal worker confidence, significance and understanding in their work without any contamination of tampering ( Jones, 1996 p.193 ) . The usage of theory helps the practician to experience that their positions are knowing and grounded ( Milner and OByrne, 2002 ) . Secker s research on societal workers pupils found that those who had a comprehendible apprehension of theory were more likely to be accessible and antiphonal with their service users, sharing their theoretical suggestions with the individual ( Howe, 2009 ; Payne, 2005a ) . Aboard this, is the professionalism a theoretical cognition gives to societal work ( Howe, 2009 ) . Thompson ( 2010 ) argues that other professionals and service users will be more confident in a societal worker who is able to show that their work is based on a theoretical model, therefore demoing accomplishments to grok and do sense of the service users state of affairs, instead than one who conjectures. Walker states, it is of import that societal workers have an apprehension of human development to work efficaciously with other subjects and to show a professional literacy commensurate with their position ( 2010, pp.xiv-xv ) . An illustration of this is a societal worker working within a Community Mental Health Team alongside Psychiatrists and Community Psychiatric Nurses who advocate the medical theoretical account and its accent on nosologies and remedies ( Parrish, 2010 p.10 ) . Working in this scene does non intend that the societal worker demands to disregard a psychosocia l position. To recommend for service users efficaciously, the societal worker demands to understand both the medical and psychosocial positions, as Parrish provinces it necessitate [ s ] the professional equivalent of being bilingual in being able to understand both positions at the same time ( Parrish, 2010 p.10 ) . In 1992, Hindmarsh s research on societal work alumnuss, showed that an apprehension of theory did supply the alumnuss with assurance. However, Hindmarsh argued that this assurance did non go on in pattern as alumnuss viewed the usage of theory as merely a tool to warrant their actions or supply answerability to their direction ( Payne, 2005a ) . Thompson argues that the professionalism of the societal worker is being impacted on by what he describes as managerialism ( 2010, p.51 ) . Thompson explains that authorities s budgeting tactics through performance indexs is forcing local authorities to run into marks. This is filtered down the direction construction, so that center directors are ordering what is required and should be implemented by societal workers, in order to accomplish the marks. Although societal workers are dedicated to the usage of theory in their pattern, managerialism has led to them missing professional assurance ( 2010 p.51 ) . It is argued that theory is excessively complicated and restricts spontaneousness, therefore it is unpointed for pattern. Alternatively a more realistic theoretical account of utilizing facts about the individual, an apprehension of the jurisprudence and practical accomplishments ( common sense ) is more effectual for societal work pattern ( Parrish, 2010 ; Walker and Crawford, 2010 ) . This position has been strongly argued against, as Coulshed provinces, theoryless pattern does non be ; we can non avoid looking for accounts to steer our actions, while research has shown that those bureaus which profess non to utilize theory offer a non job resolution, woolly and adrift service ( 1991, p.8 ) . Some theories become so familiar and accepted that they become incorporated into mundane life and linguistic communication, for illustration, Anna Freud s defense mechanism mechanisms and Daniel Levinson s mid-life crisis. By the fact that these theories become so socially recognized and em bedded into mundane linguistic communication ( described as informal theory ) , it is hard for a societal worker to avoid utilizing it in their pattern. Thompson argues, some kind of conceptual model ( and hence theory ) is therefore inevitable ( 2010, p.7 ) . Our ain life experience does non supply us with sufficient cognition to be able to assist others. It can do us to filtrate appraisals through our ain experience, which may be damaging but we could be incognizant of this. An advantage of holding a theoretical apprehension of human growing and development is that it gives us a broader position than our single life experience and balances decision-making ( Walker and Crawford, 2010 ) . Research has shown that societal workers have found it hard or are incognizant of how they apply theory to pattern ( Tanner and Harris, 2008 ; Smid and Van Krieken, 1984 ) . Therefore, work is a everyday procedure for societal workers if they do non hold an apprehension of theory ( Parton, 1996, p.92 ) . Social worker instruction is blamed for this trouble with universities either being excessively theoretical, or excessively practical, whichever accent taken, it consequences in doing theory and pattern appear as separate entities ( Smid and Van Krieken, 1984 ) . The different theoretical attacks to human growing and development can look confounding to the societal worker, as each emphasis different countries as a ground for the individual s state of affairs. An illustration of this is the procedure of ageing : a biological position is to concentrate on the physical impact of a individual turning older ; a psychological position nevertheless, will concentrate on the impairment of cognitive operation ; and eventually a sociological perceptual experience will look at the societal constructions and the older individual s topographic point in that construction. As Hughes provinces, The images created by the assorted theoretical positions biological, psychological, sociological, political-economic are per se different and create rather distinguishable images of the experience and societal status of older people ( Hughes, 1995 p.18 ) . Although each attack emphasises different countries, they all potentially provide something helpful and equal ly true ( Milner and OByrne, 2002 p.81 ) . With each attack supplying something utile in understanding the individual s state of affairs the societal worker needs to back up the service user in happening which 1 with be most helpful to utilize ( Milner and OByrne, 2002 ) . However, instead than seeing this confusion as a hinderance to societal work pattern, this is what is cardinal to societal work. It is what gives it its value and importance because it specialises in state of affairss where there are no known solutions ( Statham and Kearney cited in Howe, 2009 p.190 ) . It is the ability of the societal worker to pull together the assorted theoretical positions in order to fix a realistic and balanced attention program. There are development theories that are in direct struggle and/or dismiss each other such as Disengagement and Activity theories ( Hughes, 1995 ; Howe, 2009 ) . Disengagement Theory proposes that as person ages they of course disengage from certain societal functions and maps, which ensures continuity of the system and equilibrium between different societal groups ( Hughes, 1995 pp.25-26 ) . Disengagement was viewed as fulfilling for the older individual and supplying well-being, as it freed them from certain functions and maps that they no longer were able to carry through, such as retiring from work, thereby, assisting people to age good ( Hughes, 1995 ; Bond et Al, 2007 ) . Activity theory wholly opposes this thought and proposes that staying actively involved in the community, both physically and mentally, provided wellbeing and satisfaction for the individual ( Walker and Crawford, 2010 ) . Both theories provide definite account for the troubles in acquiring old. The activity / detachment argument has led to a figure of farther theories either seeking to decide the struggle, such as Gubrium s socio-environmental attack, or dispute one theory to back up the other, such as Cowgill s modernization attack ( Lynott and Lynott, 1996 ) . The practician s quandary is similar, should they aline themselves with one or ignore both theories. A danger for the societal worker is that s/he utilizations theory as a manner to detect the truth or ultimate solution for the individual ( Thompson, 2010, pp.11-12 ) . Lee argues against this, theoretical statements are the general rules that give rise to hypotheses, or bad facts ( 1985, p.22 ) . No individual or state of affairs is precisely the same which means neither can at that place be a cosmopolitan solution or theory to suit all ( Lees and Lees, 1975 ) . A postmodern position is that truth can non be found in one lone theory, alternatively a overplus of truths for a peculiar state of affairs can be found in utilizing multiple theories ( Milner and OByrne, 2002 ) . As Pease and Fook cited in Howe province, There are many positions and voices and it is now recognised that they all need to be heard if the complex nature of truth is to be established ( 2009, p.191 ) . Walker ( 2010 ) argues that a individual s growing and development can non be clarified by one theory. Parrish takes this farther by saying that if a societal worker s pattern were based on one theory it would turn out deplorably unequal ( 2010, p.6 ) . An alliance to one specific theoretical point of view can be unsafe, as the societal worker is unable to recognize of import issues that do non match with that peculiar point of view. For illustration Erikson s eight phases of development although helpful in understanding age related activities, has been criticised for its male, patriarchal stance in missing consciousness of other factors that can impact on development, such as gender, race, societal category etc. ( Thompson, 2010 ; Parrish, 2010 ) . This highlights the value of recognizing and critically analyzing a figure of theories in a state of affairs, instead than believing one is more superior to another. As Thompson illustrates, the brooding practician being a seamster cu tting the fabric of the cognition base to bring forth a closely trim solution to the pattern challenges being faced, instead than looking for a ready-made, off-the-rack solution ( 2010, p.16 ) . A societal worker may see mixing a figure of theories so to supply one combined theory, which Payne describes as eclecticism ( Thompson, 2010 and Payne, 2005a p.31 ) . Eclecticism has been criticised as an inexperient manner to utilize theory ( Payne, 2005a ) . Alternatively the current position is to take a critical, brooding attack, utilizing the individual s history, behavior and fortunes. Theories should be considered and weighed up as to their utility for each individual ( Adams et al, 2009 ; Thompson, 2010 ) . Using a scope of theories allows a multi-dimensional apprehension of state of affairss to develop and enables the restrictions of one position to be offset by the advantages of another ( Tanner and Harris, 2008 p.37 ) . By taking a critical and brooding attack to theory and pattern this can assist the societal worker make sense of the differences and dissensions between the assorted human growing and development theories ( Payne, 2005a ) . A critical and brooding attack, allows the societal worker to value and accept the assortment of theories applicable for a peculiar state of affairs ( Adams, 2009 ) . As Fook argues, critical and postmodern pattern hence involves a acknowledgment of different ways of knowing, in peculiar a automatic ability to prosecute with altering state of affairss ( 2002, p.44 ) . Harmonizing to Thompson ( 2010 ) , the chief important intent for using theory to pattern is that it defines our pattern. Misca provinces, cognition of human growing and development dramas an indispensable portion in measuring, planning and intervening in a successful, positive manner in people s lives ( 2009 p.116 ) . Fook describes utilizing theories, as our rational tools, instead than as regulation books as they assist and direct pattern ( 2002, p.69 ; Walker and Crawford, 2010 ) . This means that a theoretical cognition can supply a practician with the apprehension and account of a individual s behavior and state of affairs. Consideration of Bowlby s Attachment theory with aging and dementedness will be used to exemplify this. Bowlby stated that typically within the first 9 months of a individual s life, they develop an fond regard to their primary health professional . Ainsworth, working aboard Bowlby, extended fond regard theory. Through the Strange Situation tests, she proposed three types of fond regard behaviors: Anxious/Avoidant, Anxious/Resistant and Securely Attached ( Parrish, 2010 ) . Although Bowlby did non transport out any surveies on older people, he did reason that, attachment behavior continues to play a necessary function into maturity ( Browne and Shlosberg, 2006 p.135 ) . It has merely been since the late twentieth century, that Bowlby s fond regard theory has been applied throughout the human lifetime and in peculiar to dementia ( Bond et al, 2007 ) . Bowlby suggested that when grownups are ailing or under emphasis so attachment behavior is likely ( Browne and Shlosberg, 2006 ) . Miesen, an advocate for fond regard theory, researched the general behavior of people with dementedness. He likened a brainsick province of crying, cleaving and naming as being in Ainsworth s unusual state of affairs ( Bond et al, 2007 ) . Miesen researched parent arrested development which is when a individual with dementedness believes that his/her deceased parent is still alive. His survey concluded that dementedness triggers attachment behaviors ( Browne and Shlosberg, 2006 ) . De Vries and McChrystal province, Bowlby s fond regard theory has provided a conceptual and empirical model for analyzing some behaviors of people with dementedness and provided a agency of con struing them in footings of responses to loss ( 2010, p288 ) . A theoretical cognition besides provides solutions for attacks of intercession, to help the service user and enables the practician to expect future issues ( Parrish, 2010 ) . Continuing to utilize the above illustration, two new ways of working within an attachment theory model have late been developed to help working with people with dementedness: simulated presence therapy ( SPT ) and doll therapy ( Browne and Shlosberg, 2006 ) . The trouble for the societal worker is that separate theories can take to different attacks to pattern, so that the societal worker has to take which is the right 1 ( Walker and Crawford, 2010 ) . Milner and OBryne ( 2002 ) argue that the theory, which provides the greatest penetration and leads to an attack that meets the service user s aims, is the 1 to utilize. The job with this is who decides which is the theory that gives the greatest penetration, is it the societal worker or managerial/government determination. If it is the latter so it disempowers the societal worker. However, if it is the former it is dependent on the cognition base of the societal worker. Beckett and Taylor explain, Fortunately or unluckily, no theory about human life can of all time be wholly nonsubjective or value free ( 2010 p.4 ) . Human growing and development theories have been criticised for reflecting the dominant beliefs of the theoretician s society. As Thompson provinces, Theorising is by no means a pure activity, detached from the world of the societal and political universe ( 1995, p.32 ) . For illustration, Erikson, Levinson and Havighurst s theories on grownup phases of development have all been criticised This essay has noted some theories of human growing and development in aging. However, it is besides of import for a Social Worker in his/her pattern to admit that service users will hold their ain thoughts to explicate their fortunes and behavior. As Gubrium and Wallace explain, We find that theory is non something entirely engaged in by scientists. Rather, there seem to be two bing universes of theory in human experience, one engaged by those who live the experiences under consideration, and one organised by those who make it their professional concern consistently to analyze experience ( cited in Tanner and Harris, 2008 p.36 ) . Erickson emphasised the demand to look at a individual as an individual and hence, a societal worker in his/her pattern needs to take this into consideration, instead than seeking to acquire a theory to suit the individual s state of affairs ( Milner and OByrne, 2002 ) . It is of import for the societal worker to be cognizant of anti-oppressive pattern in sing a theoretical model by non taking into history the service user s positions. S/he needs to be cognizant of his/her professional power and besides the demand to authorise the service user in doing determinations and alterations ( McDonald, 2010 ; Thompson, 2010 ) . As shown, holding a theoretical apprehension of human growing and development can help societal work pattern by legalizing the work done, giving the societal worker assurance and supplying a model for the work. However, it is non the theoretical apprehension itself that hinders pattern but alternatively the application of the theory. Theory in pattern is hindered by managerialism, the danger of anti-oppressive pattern and restrictions of societal workers knowledge and experience.

The History and Purpose of the European Union

The History and Purpose of the European Union The European Union (EU) is a unification of 28 member states (including the United Kingdom) united to create a political and economic community throughout Europe. Though the idea of the EU might sound simple at the outset, the European Union has a rich history and a unique organization, both of which aid in its current success and its ability to fulfill its mission for the 21st Century. History The precursor to the European Union was established after World War II in the late 1940s in an effort to unite the countries of Europe and end the period of wars between neighboring countries. These nations began to officially unite in 1949 with the Council of Europe. In 1950, the creation of the European Coal and Steel Community expanded the cooperation. The six nations involved in this initial treaty were Belgium, France, Germany, Italy, Luxembourg, and the Netherlands. Today, these countries are referred to as the founding members. During the 1950s, the Cold War, protests, and divisions between Eastern and Western Europe showed the need for further European unification. In order to do this, the Treaty of Rome was signed on March 25, 1957, thus creating the European Economic Community and allowing people and products to move throughout Europe. Throughout the decades, additional countries joined the community. In order to further unify Europe, the Single European Act was signed in 1987 with the aim of eventually creating a single market for trade. Europe was further unified in 1989 with the elimination of the boundary between Eastern and Western Europe- the Berlin Wall. The Modern Day EU Throughout the 1990s, the single market idea allowed easier trade, more citizen interaction on issues such as the environment and security, and easier travel through the different countries. Even though the countries of Europe had various treaties in place prior to the early 1990s, this time is generally recognized as the period when the modern day European Union arose due to the Treaty of Maastricht on the European Union- which was signed on February 7, 1992, and put into action on November 1, 1993. The Treaty of Maastricht identified five goals designed to unify Europe in more ways than just economically: 1. To strengthen the democratic governing of participating nations.2. To improve the efficiency of the nations.3. To establish economic and financial unification.4. To develop the community social dimension.5. To establish a security policy for involved nations. In order to reach these goals, the Treaty of Maastricht has various policies dealing with issues such as industry, education, and youth. In addition, the treaty put a single European currency, the euro, in the works to establish fiscal unification in 1999. The EU expanded in 2004 and 2007, bringing the total number of member states to 27. There are 28 member states today. In December 2007, all of the member nations signed the Treaty of Lisbon in hopes of making the EU more democratic and efficient to deal with climate change, national security, and sustainable development. How a Country Joins the EU For countries interested in joining the EU, there are several requirements that they must meet in order to proceed to accession and become a member state. The first requirement has to do with the political aspect. All countries in the EU are required to have a government that guarantees democracy, human rights, and the rule of law, as well as protects the rights of minorities. In addition to these political areas, each country must have a market economy that is strong enough to stand on its own within the competitive EU marketplace. Finally, the candidate country must be willing to follow the objectives of the EU that deal with politics, the economy, and monetary issues. This also requires that they be prepared to be a part of the administrative and judicial structures of the EU. After it is believed that the candidate nation has met each of these requirements, the country is screened, and if approved the Council of the European Union and the country draft a Treaty of Accession which then goes to the European Commission and European Parliament ratification and approval. If successful after this process, the nation is able to become a member state. How the EU Works With so many different nations participating, the governance of the EU is challenging. However, it is a structure that continually changes to become the most effective for the conditions of the time. Today, treaties and laws are created by the institutional triangle that is composed of the Council representing national governments, the European Parliament representing the people, and the European Commission that is responsible for holding up Europes main interests. The Council is formally called the Council of the European Union and is the main decision-making body present. There is also a Council President here, with each member state serving a six-month term in the position. In addition, the Council has the legislative power and decisions are made with a majority vote, a qualified majority, or a unanimous vote from member state representatives. The European Parliament is an elected body representing the citizens of the EU and participates in the legislative process as well. These representative members are directly elected every five years. Finally, the European Commission manages the EU with members that are appointed by the Council for five-year terms- usually one commissioner from each member state. Its main job is to uphold the common interest of the EU. In addition to these three main divisions, the EU also has courts, committees, and banks which participate in certain issues and aid in successful management. The EU Mission As in 1949 when it was founded with the creation of the Council of Europe, the European Unions mission for today is to continue prosperity, freedom, communication, and ease of travel and commerce for its citizens. The EU is able to maintain this mission through the various treaties making it function, cooperation from member states, and its unique governmental structure.

Operations management Essay Example | Topics and Well Written Essays - 1500 words - 4

Operations management - Essay Example It improved workflow by 100% efficiency and 0% delay. The time of performance for each task and requirements of sequence needs the assembly line balancing tool of analysis for proper amount of workstations and workflow that is most efficient. The tool calculates the number of workstations required, in this case 5. The maximum time a workstation can operate is 10 minutes and time needed for every cycle is 46 minutes. The calculations guarantee 100% efficiency. The assembly line balancing decision tool helps achievement of highest efficiency in production and reduction in floor space production. When the assembly balancing line is properly balanced, there will be an increase of production and lower cost of production. The Maui sandal will take 4 months to be produced with a total of 20126.97423 hours of labor and costs 20121.71 at a labor rate of $1.08 every hour. The first month requires 3737.741 hours of labor at $4036.76. The second month requires 4775.66988 hours of labour at $5154.62. Third month requires 5511.74336 hours in labor at $5950.10 and month 4 6101.82 hours of labor at $6589.97. The hours for production of the Maui sandal decreases at a slower rate with increase in sandal production. Total labor cost decrease at a slower rate as the line continues to be produced. The information helps determine the levels of employment cost, capacity and product pricing in the market. The decision used here is the learning curve decision tool applied to help formulate strategic decisions of levels of employment cost, capacity and product pricing in the market. Less time is expanded as a result of repeating the same operations. It proves there an increase in time for product production as it takes less time for production. The resources available and changes in process alters the learning leading to the company pursuing the learning curve to gain maximum saving cost, therefore, the

4 Ps of Marketing Term Paper Example | Topics and Well Written Essays - 2250 words

4 Ps of Marketing - Term Paper Example The reason behind the success of business includes a long process where the achievement of success depends on marketing. The success associated with the marketing process depends upon various marketing strategies and these marketing strategies deal with 4 Ps of marketing. Thus, the implementation of marketing strategies in an appropriate manner is very important in order to achieve success by an organization. In other words, the marketing mix is the combination of all the marketing plans made by an organization (Belohlavek, 2008). Each of these four P’s is very important factors for an organization in order to create such a marketing mix which will easily attract customers towards the organization. It helps in determining the profit potential of an organization. Product means the goods/services which are offered to the customers by an organization. Apart from the offering of the physical product, there are various other elements associated with the product which helps in attra cting the customers. It can be the packaging of the product, any additional feature in the product etc. In the case of service product, it is the quality of services, the facilities provided to the customers, etc which help to attract the customers towards the organization. ...In a similar way, basic products which are used regularly should be positioned targeting the price conscious customers. Some of the important aspects associated with the products are design, warranties, brand name, product range, etc. Customer research is one of the key elements while creating an effective marketing mix. The organization’s knowledge about the needs and demands of the target market as well as about the competitors will help it to offer the product that will be appealing to the customers and will avoid various mistakes. Addition of a new product in the business always includes an acceptable amount of risk/return exchange. For example- If the company is very good, with a high brand name, t hen providing services on time is the most important part of the product bundle.

Project Management Essay Example | Topics and Well Written Essays - 2500 words - 7

Project Management - Essay Example In order to ensure the success of the Scantel project, Brian Callister who is an engineer and the acting manager of CSU together with an engineer and a technician was given three months deadline to report to VIL board regarding the following: (1) expected outcome of possible technical problems; (2) assess the feasibility of developing the concept into a working prototype; and (3) plan the development tasks which would lead to the prototype stage. Based on Callister’s suggested Scantel network diagram, the researcher will analyze and identify the key factors that may contribute to the delay of project completion. In line with this matter, the researcher will provide reasons that could promote the projects’ potential risks of delays. Eventually, the researcher will provide some strategies that could keep the project done within the preferred schedule. To be able to analyze the possible cause of bottleneck in each stages of the network diagram that was proposed by Callister and eventually develop an effective strategy that could prevent the delay upon completing the Scantel project within the desired schedule. Based on the simplified network diagram proposed by Callister, the major bottleneck with regards to the Scantel project occurs more on: (1) display system; (2) the chassis & body; and (3) the lens and housing. (See Figure I – Simplified Network Diagram on page 16) The display system is referring to the simplified sub-system of the whole plan. It shows the major events that will be needed in order to manufacture, test and calibrate the end product within a specific period of time. The problem with the display system is with regards to its accuracy. Considering the fact that the time allocation for producing the lens and housing is unknown, the whole schedule based on the plan is making the display system less accurate. For instance, the time allocation for producing the lens and housing will take longer time to produce than