Structure And Performance Of Islamic Investment Funds Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1611 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Khan (1998) studied the modern practices in commodity, currency and corporate stock trading in the light of Islamic economic framework and stated that under Islamic principles, Mudarabah or Shirakah certificates can be traded in stock exchanges. However there is no concept of preferred equity in Islamic finance as it Riba which is forbidden under Islam. Khan stated that liability towards losses of the organization need to be met which may have accumulated over a period in order to sell or disinvest shares of that organization which implied that each shareholder has a liability for cumulative past losses as well as current losses in proportion to the capital invested. Khan (1998) proposed a model of stock valuation which incorporates the Islamic principles that intrinsic value of shares should provide the prospective investor a fair amount of information about past performance of organization. Iv = intrinsic value of shares Pv = par value of shares Ri = Pr ofits, Reserves etc L = losses S = No. of Share Lewis (2010) examined the current and historic structure and performance of Islamic investment funds and found out that Islamic investments have grown quickly over the past few years and now there are approximately 650 Islamic funds operating globally. Lewis also discovered that in the past Islamic funds have focused more on negative forbidden screening principles instead of focusing on both the negative and positive screening methodologies like socially responsible funds that focus primarily more on investments in companies which play a part in human welfare. However these Socially Responsible Investments (SRI) funds performed slightly poor compared to Islamic funds because Islamic funds invested a significant portion in energy companies who enjoyed profitability because of rising oil prices, SRI funds do not invest large portions in fossil fuel energy companies primarily because of their futile side effects on environment. Nik Maheran and Masliza (2008) analyzed the performance of Islamic mutual funds at Kuala Lumpur Stock Exchange to investigate if these funds underperform or over perform the market index using average return on mutual funds, standard deviation of weekly returns, coefficient of variation, Treynor and Sharpe index. They found out that most of the funds achieved a lower return than market from the period 2002 until 2006. However in terms of risk level Islamic mutual funds showed less risky behavior compared to the market since the betas of Islamic mutual funds was less than one. Rennebook, Horst and Zhang (2007) critically reviewed the available literature on socially responsible investments and concluded that a primary reason for low returns from socially responsible funds could be the multi-task nature of portfolio managers who pursue both financial and social objectives. They also found out that if investors avoid investments in unethical/asocial businesses, than they may requi re a low rate of return than other investors who do not show any similar type of preferences. Hussein (2007) analyzed the returns of FTSE Global Islamic index and Dow Jones Islamic Index from 1993 till 2004 and compared them with the returns of Dow jones world index and FTSE All world index. He found out that application of Shariah screening doesnt adversely impact on Islamic indices performance as Islamic indices performed as well as their counterparts over the entire period. Hussein (2007) stated that Islamic indices yield statistically positive returns in bull market period though Islamic indices underperform the all world indices in the bear period and in the long run have a superior performance compared with counterparts in entire market period. Abdullah, Hassan and Mohammad (2007) compared the performance of Islamic and conventional mutual funds in Malaysian capital market with the help of Sharpe index, adjusted Sharpe index, Jensen Alpha, timing and selective ability an d found out that Islamic funds are less risky than conventional funds and both Islamic and conventional funds have diversification levels which are less than 50 per cent of the diversification level of the market portfolio. They discovered that Islamic funds performed better than conventional funds during bearish periods while conventional funds performed better than Islamic during bullish periods and concluded that Islamic funds can be used as hedging tools. Hussein (2005) compared the performance of Dow Jones Islamic market index and FTSE Global Islamic index and benchmarked it against their counterparts, Dow Jones World index and FTSE Global Index respectively, using parametric t-statistic and non-parametric signed rank test. Monthly returns data had been used ranged from 1996 2004 and the periods had been divided into bull and bear return phases to make more meaningful conclusions from results. Hussein (2005) found out that Dow Jones Islamic Index outperformed its counterpar t in the entire period (1996 2004) and bull period. The mean monthly return of Dow Jones World Index was higher than the DJ Islamic index over the entire bull period which indicated that the Islamic index has greater volatility in comparison with DJ world index. Contrary to this, Dow Jones Islamic index fails to maintain its better performance over the bear market phase where the DJ world index gives better returns. In case of FTSE indices, FTSE Global Islamic index outperforms FTSE All world index in the entire and bull periods. However FTSE Islamic index underperforms FTSE world index over bear period. Hussein (2005) also found out that the beta of both Islamic indices is greater than one and higher than their counterparts which imply that both Islamic indices are riskier than their counterparts. Hence Hussein (2005) stated that the application of Shariah screening principles has no adverse effect on Islamic indices performance over the years and concluded that Shariah investing offer superior performance compared to unscreened portfolios. Albaity and Ahmad (2008) examined the performance of KLSI, A Shariah Compliant Index at Bursa Malaysia, and benchmarked it against KLCI which is a conventional stock market index at Bursa Malaysia using measures of risk adjusted returns and found out that KLCI is outperforming KLSI. Albaity and Ahmed (2008) also found out that KLCI has a higher beta as evident from conventional Non-Islamic indices and that in the short run both indices move in the same direction and tend to cause each other. Hence they concluded that there is no significant difference in the returns and movements of both indices. Hakim and Rashidian (2002) applied Islamic equity screening principles on Wilshire 5000 index and created a Shariah Compliant Portfolio and compared the return characteristics of the created Wilshire Islamic portfolio and Dow Jones Islamic market index portfolio with the parent Wilshire 5000 index and found out that the red uced diversification characteristic of newly created portfolio has not adversely affected its performance when compared with parent Wilshire 5000. Hakim and Rashidian (2002) examined the causality between the Islamic index, the Wilshire 5000 and the Tbill rate and found out that the Islamic index is influenced by factors independent from the broad market or interest rates which are contrary to the widely accepted notion that Dow Jones Islamic Index exhibits high correlation with broad market. They concluded that such correlation is temporary and false Sauer (1997) measured and analyzed the average monthly returns and variability, Jensen Alpha and Sharpe performance of the Domini 400 Social index portfolio and benchmarked it against the performance of two unrestricted portfolios (SP 500 and CRSP value weighted market indexes). Sauer (1997) discovered that the application of socially responsible strategy in stock selection does not impact the investment performance adversely. He co ncluded that the potential performance costs of implementing socially responsible criteria, as represented by the performance of Domini social index are negligible. Sauer (1997) also stated that the performance of Domini Social equity Mutual fund compares favorably to the performance of Vanguard SP 500 index. Bauer, Koedijik and Otten (2004) analyzed the performance of 103 German, UK and US ethical mutual funds and found no indication of substantial difference in return behavior between ethical and conventional mutual fund returns after controlling for factors like book to market and size. Bauer, Koedijik and Otten (2004) also concluded that ethical mutual funds are typically less exposed to market variability compared to conventional funds. Hamilton, Jo and Statman (1993) studied 32 socially responsible mutual funds and compared their returns with a portfolio of 177 conventional mutual funds. They found out that market do not price social responsibility characteristics so inv estors can expect to lose nothing by investing in socially responsible mutual funds; social responsibility factors have no effect on expected stock returns or companies cost of capital. Derigs and Marzban (2009) analyzed SP, DJIM, FTSE, MSCI and HSBC Shariah Complaint indices and stated that current Shariah compliant strategies result in much lower portfolio performance than portfolios without considering Shariah Compliance. They suggested that the return from Shariah complaint strategies can be increased by making Shariah compliance an attribute of portfolio constructed rather than measuring compliance on as asset level. Derigs and Marzban (2009) argued, Funds are investment vehicles, which are financially independent of the institutions that establish them. Therefore, a fund takes the form of an independent company, such as a limited liability company (Norman, 2004), in which investors act as shareholders. So they proposed that with respect to compliance a fund which itself inv ests in multiple companies has to be evaluated in the same way as a conventional independent company. Hassan and Antoniou (2006) examined the potential impact of Islamic screening restrictions on investment performance by comparing the performance characteristics of a diversified of Islamic screened stock indices with conventional benchmarks (Data stream Global Index) and the degree of correlation and volatility in price movements between both indices. Hassan and Antoniou (2006) concluded that the impact of stock screens is closely related to the performance of stock markets and further stated that any argument that Islamic equity investments are less profitable than conventional types of investments is questionable which is supported by relatively major differences between Sharpe and Treynor measures and significant positive Alpha over the positive returns period when the Dow Jones Islamic Market Index outperformed the Data stream Global Index. Don’t waste time! Our writers will create an original "Structure And Performance Of Islamic Investment Funds Finance Essay" essay for you Create order

Chapter Four of Frankenstein by Mary Shelley Essay

Chapter Four of Frankenstein by Mary Shelley The novel, Frankenstein written in 1816 approaches many key issues, which were as relevant then as they are today. At the time there were many scientists who were experimenting in the area of making life, and Shelley addresses this as the main point of her novel. The novel is still as popular as it was in 1818 (when it was first published) due to the way it discusses issues, such as prejudice and parent/child relationships, which are still relevant to modern society. The novel was written my Mary Shelley when she was challenged to write a horror story. Shelly was a part of the Romantic Movement and much of the scenery she describes reflects this. An†¦show more content†¦The atmosphere is also being built by saying the rain pattered dismally against the panes. This makes us think of a stereotypical gothic-horror scene, and so we begin to associate the next events with horror. My doing this, Shelley is allowing us to create a hideous image in our minds even before the creature has been born. The mental image which we have created is then reinforced when the creatures first movements are described. Frankenstein speaks of his birth, saying I saw the dull yellow eye of the creature open...a convulsive motion agitated its limbs. We are then easily led to thinking it is horrible, as the words dull yellow are associated with dirt. The convulsive motion described is also quite the opposite of a graceful, smooth movement, and so we are made to think of a horrible, twitchy movement, which is also connected with illness, and therefore makes us connect the monster with disease. After the birth, our premonitions are confirmed. Frankenstein uses words such as catastrophe, wretch, horror and disgust to describe what he has created. He is judging the monster by his appearances, and not considering his personality. 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I will be looking atRead MoreMonsters within a Young Girl’s Mind: Frankenstein by Mary Shelley1379 Words   |  6 Pages The interpretation of the young girl’s ghastly nightmare, fashioned by her own imagination derived the novel â€Å"Frankenstein: The Modern Prometheus.† Mary Shelley began, putting pen to paper reveling her cautionary tale, a moral lesson hidden within a horrifying story that would awaken thrill and terror in her audience. Mary felt that if this was not accomplished, the novel would not live up to its title â€Å"The Modern Prometheus.† She relates to geographic elements that are subsequent the French Revolutiona ryRead MoreFrankenstein Comparison to the Rime of the Acient Mariner Essay872 Words   |  4 PagesFrankenstein is Mary Shelley’s famous, fictional work in which a man unravels the secret to creating life. The main character in this story is Victor Frankenstein. Throughout the novel he grows from a young, innocent boy into a vindictive, vengeful man. He oversteps the bounds of science by becoming the creator of a being that never should have lived. In the poem The Rime of the Ancient Mariner, written by Samuel Coleridge, a man, much like Victor, takes the role of the main character. The ancientRead MoreEllen Gonzalez Per. 5 Frankenstein Mary Shelley’s â€Å"Frankenstein† is about Victor Frankenstein’s600 Words   |  3 PagesEllen Gonzalez Per. 5 Frankenstein Mary Shelley’s â€Å"Frankenstein† is about Victor Frankenstein’s excessive knowledge in the sciences and his refusal to accept his own creation. Frankenstein starts with a healthy curiosity in the sciences that eventually turns into an unhealthy obsession he can no longer control. He undergoes a drastic transformation because of making experiments that eventually result in his biggest one yet; the monster. Shelley applies the themes: the danger of too much knowledge

Essay on Comparison of the Lady with the Dog and the Story...

In the story The Lady with the Dog by Chekhov is an obvious love story from the very beginning. It is known that Dmitry is a womanizer but when he first lays his eyes on Anna you can almost feel the smirk on his face of surprised happiness. It was just something a little different that he has never felt before, even though he tries to be somewhat arrogant about it. The story is very emotional and it brings a loveless, stiff marriage on both ends to life. This is nothing special, a loveless marriage seeing as lifeless marriages were very common during this time. The parents of the potential mates usually arraigned marriages and it is made out to be more of a business deal than a loving union between two people. If marriage were not put†¦show more content†¦After all of their diligent attempts to stay faithful to their significant others they decided to do things their way and lived by what they felt and not what they were taught. At the end this story is about two people find ing their soul mate in one another. Anna received her new lease on life by finding something true and honest. By living love with a man and not being forced to love him but feeling it o her own. Now you never really know if Anna leaves her husband or if Dmitry leaves his wife and children but they were able to experience something they might not ever get a chance to again. For them maybe it was worth the lying and sneaking around to be happy if just for that short period of time. In the story The Story of an Hour by Chopin we read that because Mrs. Mallard had a fragile heart, her sister was hesitant in breaking to her the bad news of her husbands death. Unlike most women who find themselves in denial after being told something of this magnitude she instantly became distraught. Once she composed herself she locked herself in her room and would let no one in. She was noticing thing outside of her window that she had never noticed before. 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Right Iliac Fossa Pain Of Anne Samples †MyAssignmenthelp.com

Question: Discuss about the Right Iliac Fossa Pain Of Anne. Answer: This essay is about Anne who is a 10 year old girl and has been suffering from right iliac fossa pain. She was taken to a local hospital and was diagnosed with appendicitis. The doctors decided to perform appendectomy. They also found a gangrenous perforated appendix with peritonitis. Since she was suffering from severe infection and there were a lot of complications, she was advised hospitalization for 10 days of IV antibiotics and pain management. This essay demonstrates the pathophysiology of appendicitis, growth and developmental theories such as JMD theories which includes psychoanalytical theory by Freud, Piaget theory and Maslows hierarchy of needs theory. It also demonstrates family centered care and the effects of hospitalization on the patient and family members. This essay demonstrates how evidence based information can be implemented into contemporary Australian nursing practice. Appendicitis occurs due to the obstruction of the lumen of the appendix and it also occurs due to several bacteria such as yersiniaspecies, adenovirus, cytomegalovirus, actinomycosis, foreign substances, tumors and tuberculosis. Obstruction involves the filling of lumen distal with mucous which increases to intra luminal and intramural pressure and also causes distension (Cobb, 2017).This results in rapid multiplication of bacteria residing inside the appendix. Bacteria that are most commonly found in the appendix areBacteroides fragilisandEscherichia coli. Pathophysiology involves several symptoms such as reflex anorexia, nausea and vomiting, and visceral pain that occur due to the dilatation of the appendix. The small venules and capillaries get affected by thrombosis when the pressure of the lumen becomes more than the venous pressure thus causing and congestion and swelling of the appendix. Inflammation occurs in the serous membrane of appendix which leads to increase in pain. Du e to the thrombosis of small arterioles bacteria start leaking out thus leading to the formation of pus inside the appendix (Drake et al., 2014). The pus also forms a layer outside the appendix region. Due to the infection of bacteria and ischemia inflammation occur which results in the death of cells and gangrene. The condition further worsens and results in perforation of the appendix due to gangrenous appendix. It also results in peritonitis which involves swelling of the innermost layer of the abdomen and organs present in it. Perforation of the appendix is most commonly found in children as compared to adult individuals. There are several growth and development theories such as JMD theories which includes psychoanalytical theory by Freud. He was the first to identify the development of an individual through several stages such as oral stage, anal stage, phallic stage, latency and Genital stage. This theory played an important role in helping nurses in understanding the behavior and condition of mental health in different patients (Hahn, Coricelli Matteo, 2016).It also helps in understanding different behaviors of patients related to ego and id. Anne belongs to the Latency stage since its range is from 6-12 years so the major development task for her is to focus on relationships. Freud theory helps individuals to accept who they are and improve their health and well being. Piaget theory focuses on the fact that interaction with the environment plays a significant role in the development of human beings. The nurses gain knowledge and understand the main features of developmental psychology and it helps them to assess the stage of development a childhas attained (Mischel, 2013).This helps them accomplishing several tasks of development. Piagets theory has made a significant contribution in understanding the intellectual level and cognitive development in children. Maslows hierarchy of needs theory is a theory of psychology that aims to motivate individuals and is based on a five stage model that includes biological and physiological needs such as air, food, drink, shelter, warmth, and sleep. Safety needs include protection and security, law, stability, order, and freedom from fear (Maslow, 2013).Love and belongingness needs include, friendship, intimacy, trust and acceptance, receiving and giving love and affection, social interaction among family, friends, and work. Esteem needs include achievement, independence, status, dominance, which plays a very important role in realizing potential of self, self-fulfillment, seeking personal advice for growth and development. This theory helps nurses and health care professional to motivate patients suffering from different types of disorders and diseases (Maslow, 2013). A proper communication to patients plays an important role in improving the hospital journey and reduces the anxiety, stress and depressive symptoms. Lack of proper communication leads to issues such as a delay in treatment and sometimes may cause adverse health effects among them. This decreases their bonding with healthcare professionals such as clinicians and nurses and creates misunderstanding and confusion about the treatment and the precautionary measures that should be taken. It may lead to mental issues such as anxiety and may have a negative impact on the psychological condition of the patients. Family centered care plays an important role in improving the well being of the members of the patient. It involves providing care sucgh as emotional care, motivation and guidance which helps them to prevent depressive symptoms and other health disorders related to it. Healthcare staff should have a responsible attitude towards their patients as well as their family members. The doctors and thenursing staff should act as a guide and provide support in all their problems and issues (Festini, 2014).They should advise them about the precautionary measures to be followed .This will improve the psychosocial health of the family members of the patient and help her in getting cured in less amount of time. Cognitive development is the field of studying psychology that focuses on the development of child on the basis of his or her ability to learn, process the information and the development of brain (Lehne Rosenthal, 2014). Cognitive behavioral therapy can be provided to Anne that would assist in changing their behavior and attitude towards life. The main objective of this therapy is that it works only on the issues and the problems and not on the causes of the symptoms faced by the individuals. These issues occur due to the psychological issues they face when they are diagnosed with a disease (Ehde, Dillworth Turner, 2014).Cognitive issues occur because the information is not encoded by the brain and stored in a proper manner .The nurses should be patient enough to command communicate with the family members with empathy and also understand their needs and demands. Palliative care should be given to her in a proper manner which is special type of care to that provides relief from both physical and mental pain and stress. Nurses should learn how to perceive, comprehend and transmit messages during an interaction with them. They should communicate with them in an effective manner. Person centered care should be provided to the young individual suffering from depression. It involves discussion with the family members of the patients about their disease and the treatment procedure that should be followed (Mischel, 2013).They should provide appropriate health care services by using proper communication skills and ensure patient satisfaction. She should be given a proper counseling and psychosocial care to get rid of emotional health like pain, anxiety, distress and low self esteem occurred due to the health issues. There would be negative effects of hospitalization of the child, on the child and her family. The main reason behind it is that she is very young to bear the pain of the surgical procedure and she has been advised to stay in the hospital for 10 days which is quite longer for a child of 10 years. She might also not feel comfortable with nasogastric tube and other therapies such as morphine patient controlled analgesia, intravenous therapy and triple intravenous antibiotics. The family members of the patient also suffer from several issues due to hospitalization such as financial crisis, responsibilities related to house old, negative effects on the education of other children, and boredom (gotneset al.,2016). The hospitalization of Anne might lead to a huge loss in their restaurant business as well leading to depression and other mental issues in the family members. The family members of the patient should be taken care of by the hospital staff and helped whenever in need regarding to the treatment of patient and other issues related to accommodation and transport. The nurses should be respectful and compassionate towards them and also think from their point of view by solving all their queries regarding the treatment prescribed (Lehne Rosenthal, 2014).This will have a positive impact on the well being and the emotional health of the family members. Clinicians practicing patient care should have a sense of responsibility towards their patients as well as their family members. Proper information regarding the illness, medications and the preventive measures to be followed should be given to the family members (Gordon et al., 2012).This will help them to develop a trustworthy relation between the two would develop a positive thinking and reduce the stress about the treatment given to her. It reduces the complications in patients that lead to decrease in post operative complications. It also decreases the cost and the duration for which the patient is hospitalized. Various strategies should be followed to provide proper education to family members for a successful discharge and improve patient care and satisfaction. It can be summarized that Anne should be treated empathetically and with courteousness and should be counseled properly so that she can explain the severity of her pain. Various tools for the assessment of pain should be used if she is feeling discomfort. . The nurses and other healthcare professionals should help her and provide psychosocial care along with palliative care so that she gets well soon.Her family members should also be advised to take precautionary measures to prevent the mental and physical issues and take proper rest and sleep intake so that they do not have any negative health effects. References gotnes, G., Jacobsen, F. F., Harrington, C., Petersen, K. A. (2016). A Critical Review of Research on Hospitalization from Nursing Homes; What is Missing?.Ageing International,41(1), 3-16. Cobb, T. (2017). Appendicitis following blunt abdominal trauma.The American Journal of Emergency Medicine. Drake, F. T., Mottey, N. E., Farrokhi, E. T., Florence, M. G., Johnson, M. G., Mock, C., ... Flum, D. R. (2014). Time to appendectomy and risk of perforation in acute appendicitis.JAMA surgery,149(8), 837-844. Ehde, D. M., Dillworth, T. M., Turner, J. A. (2014). Cognitive-behavioral therapy for individuals with chronic pain: Efficacy, innovations, and directions for research.American Psychologist,69(2), 153. Festini, F. (2014). Family-centered care.Italian journal of pediatrics,40(1), A33. Gordon, B.K, Miles, S., McLeod, M., El Ali, M., Gale, P.L. (Eds.) (2012). Child, adolescent and family nursing. Sydney: Pearson. Hahn, F., Coricelli, F., Di Matteo, M. (Eds.). (2016).New Theories in Growth and Development. Springer. Haley, C. (Ed.). (2016). Pillitteri'sChild and family nursing in Australia and New Zealand (2nd ed.). North Ryde, New South Wales: Lippincott Williams Wilkins Pty Ltd. Lehne, R. A., Rosenthal, L. (2014).Pharmacology for Nursing Care-E-Book. Elsevier Health Sciences. Maslow, A. H. (2013).A theory of human motivation. Simon and Schuster. Maslow, A. H. (2013).Toward a psychology of being. Simon and Schuster. Mischel, T. (Ed.). (2013).Cognitive development and epistemology. Academic Press.

Finemaster Projects Ltd.

Executive Summary FP employs highly professional and highly-skilled tradespeople and the demand for its service has reached an all time high so that they are kept busy even in the lean months. However, if the corporate leaders at FP will not be able to turn things around, then they will begin to lose their key personnel. It will take some time and resources to train a new worker and transform him into a reliable employee that can get the job done on time and in a cost-efficient manner. There is therefore a need to improve how things are being done at FP.Advertising We will write a custom report sample on Finemaster Projects Ltd. specifically for you for only $16.05 $11/page Learn More Main Recommendations The current organisational structure must be transformed into a matrix type where the company is divided into two equal branches with its respective team of tradespeople and administrative support and this includes a competent Human Resource manager. As ide from that Skip and Bob Donovich will have to shed off their autocratic style of leadership. Finally, investment has to be made on modern tools and strategies to store and retrieve business information. Conclusion Skip and Bob Donovich will agree to the proposal because they cannot afford to keep on hiring and training new workers. They will also realise that a change in structure and leadership style will make the company more efficient and even though they will have to spend money to implement the changes they know that in the long run their profit will increase significantly because they can do their job more efficiently especially when it comes to managing people. Background The success and current problems of the firm can be understood fully if one will study its history. Finemaster Projects (â€Å"FP†) – a residential and construction firm – was established in 1955 by two brothers. Thirty years later ownership was transferred to their sons, Skip and Bob Donovich who became the managing partners of the said firm. Together they transformed the company into a non-unionized and privately held firm that specialises in high-end residential and commercial building projects. This includes complete turnkey service and at the same time provide their customers drawings and blueprint preparation, cost estimates, budgeting, job scheduling, design, installation and even interior decoration. On average the company employs 55 qualified and licensed trades people who were highly committed to their craft and have the same desire as the owners to provide quality service to their customers (Harvey, p.1). The employees were attracted to work at FP because the company is commuted to use the best techniques and the latest technology. Everyone in the organisation, including the Bob and Skip Donovich continue to strive to use the newest styles and highest quality products. This is the reason why tradespeople who are just starting out in their profession w ould like to join FP. Employment in this company is seen as a solid stepping stone for better opportunities.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The success of the firm based on its specialized service allow the company not only to hire the best but also to keep them motivated in the long run. But only because these employees are well aware of what they can receive from the company. It is not much on the monetary gain but the level of experience about the latest technology and the best techniques to build structures and add style to a project that would surely increase customer satisfaction. However, there is a problem when it comes to those who wanted to have a long-term commitment. It is difficult to talk about and discuss their future with the corporate leaders or even the Human Resource manager if there is one. This is unfortunate because FP will simply become the stepping stone for many and when they are experienced enough they will leave the company. Present It is important to first identify the issues faced by the FP. There are many but the problems of John Balmer provides an overview of what could become a major hindrance to the future of the firm. This is because of two things. First, John Balmer is willing to work full-time and can commit to a long relationship with FP. Second and most important of all, Balmer is not an ordinary worker trying to learn the ropes at FP. It is therefore imperative for the business leaders of FP to find every way possible to retain the service of this young man. If Skip and Bob Donovich fails in this regard then there is a possibility that they can lose some of their best men much sooner than expected. There are two major factors though that will make it a challenge to change the way things are being done at FP. First of all there is the corporate structure that at first glance seems to be an inefficient hybrid betw een a functional type of corporate structure and a matrix structure. The second major factor is the culture that exists within FP. Since the company was established by two brothers and then passed on to their sons it is understandable why they tried to maintain a family-like atmosphere within the company. However, there are challenges that they had to deal with and this necessitates major changes in corporate structure as well as leadership style. FP has to deal with a rapidly growing business as well as the need to keep their diverse group of highly-skilled tradespeople happy and contented. They have under their employ people with varied skills and responsibilities. The person who is in-charge with the planning and creation of blueprints and diagrams is not the same person in-charge of the construction sites. Expert interior decorators possess a different skill set as compared to those whose expertise is in carpentry. The need to manage such a diverse set of highly-skilled workforc e is not an easy task. Interestingly, FP managed to thrived in a competitive environment using inefficient strategies when it comes to human resource management. Case in point is John Balmer’s frustration to receive what he believed was due him after a year of dedicated service to the company.Advertising We will write a custom report sample on Finemaster Projects Ltd. specifically for you for only $16.05 $11/page Learn More Action Plan The first thing that has to be done is to make sense of the organisational structure of the company. Skip and Bob Donovich could not afford to develop a system wherein order and stability is only good on paper but in real-life the workers are at a loss as to how they were being managed and taken cared of by the company. For example there is only one building that houses all the administrative functions of the company but when it comes to the actual work the leaders created two branches. One group works for Skip Don ovich and the other one works for Bob Donovich. Each branch is focused on their specific projects and rarely worked on jobs that was linked to the other group. Sometimes the two groups share resources. This set-up could have worked for the long-term except for two issues unique to the company. First, the insistence to maintain a family-like atmosphere. This means that although there are two branches it is still impossible for the workers to know who is accountable for them if it is Skip or Bob Donovich. Secondly, the leadership style adopted by the leaders is something that can add confusion and frustration to the workers as seen by the reaction of Balmer and the unethical behaviour of Winters. Changes has to be Made In order to overhaul the company and minimize the number of skilled personnel leaving FP to look for greener pastures, the major part of the solution has to deal with the organisational structure and the leadership style of Skip and Bob Donovich. The first thing that th ey need to do is to make a decision whether they will use the functional structure or the matrix structure. It must be pointed out that combining the attributes of these two types of structure will simply frustrate and confuse the employees when it comes to accountability, sharing of resources, and dealing with human-resource related problems. Due to the workload as well as the need to share resources FP would probably choose the matrix structure. If they will go with this set-up then there is a need to create a clear line of delineation between the two branches. This means that the worker in Branch A should never work in Branch B and the sharing of resources must stop. In other words these two groups should be independent of each other. To some extent this is what is happening at present. But there is one more thing that they need to do. The administrative, marketing and human-resource-management aspects of the business must also be divided between the two groups. This means that B ranch A and Branch B will each have their own set of administrators, finance department, marketing department as well as a human resource manager that can deal with the specific members of each branch.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The downside to this proposition is that it would force the company to buy more equipment because sharing of resources is no longer allowed. More importantly the company has to hire another administrator, finance officer, and HRM personnel. Finally, Skip and Bob Donovich will have to make a commitment to one branch and they are not allowed to cross-over to the other side and take part in their projects or meddle with their problems. The next thing that has to be done is to deal with the issue of leadership style. No information was given with regards to Skip Donovich but one can assume that he shares the same leadership style as Bob. Based on the information given Bob Donovich’s leadership style can be described as autocratic – he solves problems and makes decisions alone. In the case of Balmer he did not consult anyone from the administrative division to find out about Balmer’s work performance. Donovich does not have a system in place where he can evaluate his employees. But worse of all he makes decisions on the fly without thinking about the consequences to the company and to the individual. Timeline The change in leadership style can be done immediately. Skip and Bob Donovich will have to make a decision to not do everything in an autocratic manner especially when it comes to issues of job performance reviews and pay raise. It is interesting to note how a company has thrived for many decades using management strategies that seems only good for a start-up business and not an organisation that has at least 55 employees not counting those working in the administrative and finance departments. When it comes to changes in the organisational structure perfect timing is needed. There is no need to rush and the leaders will have to provide time for all the changes to occur. It would be best to implement the change during lean months such as during wintertime. This is to capitalise on slow demand and would allow for more meetings and discussio ns with regards to the proposed changes in the corporate structure. Justification It is possible that the leaders will resist the idea of change. After all they already experienced a significant level of success. However, they have to understand that if they will lose their key personnel then there will come a time when they will have a few experts under their employ and it would become increasingly difficult to finish projects on time and not waste their resources on duplicate work because customers are unhappy with the final results. The leaders may disagree with the proposed changes because of the additional expenses involved. But it must be pointed out to them that in the long run they will increase their profit. They need to know that it is costly to train workers without experience and then after a few years lose their service to a competitor who is willing to pay more. The proposal must be communicated in such a way that the leaders will feel that this is not only for the emp loyees but also for the overall success of the company. The leaders should be made to understand that their inability to provide what the employees are asking for in terms of benefits and salary increase may not be due to financial considerations but the lack of a system that will help them make accurate and effective decisions. In this regard changes should not only be limited to leadership style and corporate structure but also in modernising their systems. When Balmer went to see Donovich, the boss was busy looking for a purchase order because of the mess that was cluttering his desk. Donovich kept on shouting instructions to a subordinate while he kept on looking for the missing document. Thus, the company would benefit greatly if they move from a manual system of storing and retrieving information and shift to digital technology for more efficient storage and faster retrieval of the same. A better leadership style, an improved organisational structure and the use of modern tool s to manage business information will help them free up resources and allocate it more efficiently. FP’s business leaders will be amazed at what is possible with these changes in place and so they will support it all the way. Works Cited Harvey, Julie. Finemaster Projects Ltd. Ontario, Canada: Richard Ivey School of Business, The University of Western Ontario, 2010. This report on Finemaster Projects Ltd. was written and submitted by user Cristopher C. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

London and Bita Cycling Essay

London and Bita Cycling Essay London and Bita Cycling Essay Bita Cycling are you kidding When you are on it every thing look different . when you ride it you have a incredible joy which I can’t tell you.it is a whole new world.it changed the world. Bicycle is one of the most popular transport in UK and every one is able to understand how to use it but there are not many who can understand it, like me. because I am ridding over London’s streets. I ridded every street ,park and area in London, please join me to tell you the weirdest, unbelievable and nice story about this rainy city. When we talk about London tourists will talk about London eye or themes. When we talk about London businessmen’s will tell you about 'The Square Mile' but if you ask me I wont give you any name I will give you a bike and tell you to fallow me. My favorite street in London is baker street then I can bring you to Swiss cottage and show you every thing, you can hear heart beating of life or you can see the energy which is pumping through city you can easily get that energy because you are listening at it and mostly because you are sweaty and trying to stay at your bike and you need something to hang on it. Bike may be makes us tired, sweaty and exhausted but the breeze cool you down and dry you and the low speed of bike make you see the city in the way which people in the bus or car cant see like the old cottage which now a days is a restaurant or the bakery which is nearly to shed (older than what I expected). I will never

The Life and Music of Johann Strauss II Essay Example | Topics and Well Written Essays - 750 words

The Life and Music of Johann Strauss II - Essay Example From among the hundreds of musical compositions that Johann Strauss II created, his most famous work was identified to be the Blue Danube, categorized as â€Å"the most widely played and arranged pieces of its time, known to the most casual listener today from many radio, film and television uses of it†. A countdown of his musical scores generated this profile: â€Å"150 waltzes, one hundred polkas, seventy quadrilles (square dances), mazurkas (folk dances from Poland), marches, and galops (French dances)†. Johann was noted to be the king of waltz or the waltz king.His music was also noted to belong to the classical genre and assuming the orchstral and opera style. In fact, a total of more than 500 orchestral compositions were attributed to his name. Likewise, Johann Strauss II was known to have popularized both light music and dance music, both musical genres and styles that gave way to less serious form of classical music intended for an audience for the purpose of da ncing the waltz, or to put them in the right mood to listen to a concert-type of music. Since Johann’s compositions were predominantly orchestral or opera in style, the musical accompaniment was composed of a variety of musical instruments chosen appropriately to create the intended mood: for dancing, for easy listening, to appreciate a particular musical instrument: cello, the piano, or the whole orchestra. He has also composed selections of best classical music of his time; concert music, music of the opera, and favorite dance music attributed to the Strauss family, to name just a few.From among the famous operettas noted to be composed by Johann Strauss II, the following were detailed: â€Å"Die Fledermaus, is probably one of the greatest operettas ever written and a masterpiece of its kind. The lovely Du und Du waltz is made up of excerpts from this work. His two other most successful operettas were A Night in Venice (1883), from which he derived the music for the Lagoon Waltz, and The Gypsy Baron (1885), from which stems the Treasure Waltz†.... Music of Johann Strauss II From among the hundreds of musical compositions that Johann Strauss II created, his most famous work was identified to be the Blue Danube (An der schonen blauen Donau), categorized as â€Å"the most widely played and arranged pieces of its time, known to the most casual listener today from many radio, film and television uses of it† (Rovi Corp, 2013, par. 1). A countdown of his musical scores generated this profile: â€Å"150 waltzes, one hundred polkas, seventy quadrilles (square dances), mazurkas (folk dances from Poland), marches, and galops (French dances)† (Encyclopedia of World Biography, 2013, par. 9). Johann was noted to be the king of waltz or the waltz king (The Johann Strauss Society of Great Britain, 2013; Encyclopedia of World Biography, 2013). His music was also noted to belong to the classical genre and assuming the orchstral and opera style (Rovi Corp, 2013). In fact, a total of more than 500 orchestral compositions were attrib uted to his name (The Johann Strauss Society of Great Britain, 2013). Likewise, Johann Strauss II was known to have popularized both light music and dance music, both musical genres and styles that gave way to less serious form of classical music intended for an audience for the purpose of dancing the waltz, or to put them in the right mood to listen to a concert-type of music. Since Johann’s compositions were predominantly orchestral or opera in style, the musical accompaniment were composed of a variety of musical instruments chosen appropriately to create the intended mood: for dancing, for easy listening, to appreciate a particular musical instrument: cello, the piano, or the whole orchestra. He has also composed selections of best classical music of his time; concert music, music of the opera, and