Analysis of Phosphate free essay sample

The aim of the experiment is to determine the concentration of phosphate ions in unknown samples. A series of dilution of known concentration is performed from the phosphate working solution. Each of the prepared working standards, the unknown samples and the blank are then made to react with a mixed reagent which have been prepared after acid wash of the glasswares Glassware * 2 Beakers * 11 conical flasks * 9 Volumetric flasks 50 ml * 1 Volumetric flasks 1000 ml * Pipette type 1 Pipette 25 ml * Stir rod * 11cuvette * Spectrophotometer Chemical needs; hazards and safety precautions: 1. Sulphuric acid It is very hazardous in case of skin contact. It is classified as corrosive, irritant and permeator. Safety needs: Lab coats,safety goggles and gloves should be worn to minimize risk of contact. In case of: †¢Eye Contact: Check for and remove any contact lenses. In case of contact, immediately flush eyes with plenty of water for at least 15minutes. Cold water may be used. We will write a custom essay sample on Analysis of Phosphate or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Get medical attention immediately. †¢Skin Contact: In case of contact, immediately flush skin with plenty of water for at least 15 minutes while removing contaminated clothing and shoes. Cover the irritated skin with an emollient. Cold water may be used. Wash clothing before reuse. Thoroughly clean shoes before reuse. Get medical attention immediately. †¢Serious Skin Contact: Wash with a disinfectant soap and cover the contaminated skin with an anti-bacterial cream. Seek immediate medical attention. †¢Inhalation: If inhaled, remove to fresh air. If not breathing, give artificial respiration. If breathing is difficult, give oxygen. Get medical attention immediately. 2. ammonium heptimolybdate Ammonium heptimolybdate e is harmful if swallowed or inhaled. It causes irritation to the eyes, skin, and respiratory tract. It affects kidneys and blood Safety measures: Lab coats,safety goggles and gloves should be worn to minimize risk of contact. 3. Potassium antimonyl tartrate Slightly hazardous in case of ingestion. Non-corrosive for skin. Non-sensitizer for skin. 4. Ascorbic acid Slightly hazardous in case of skin contact (irritant), of eye contact (irritant), of ingestion, of inhalation. Safety measures: Lab coats, safety goggles and gloves should be worn to minimize risk of contact. 5. Hydrochloric acid Concentrated hydrochloric acid forms acidic mists. Both the mist and the solution have a corrosive effect on human tissue, with the potential to damage respiratory organs, eyes, skin, and intestines. The HCL should be used in a fume hood and personal protective equipment such as rubber or PVC gloves, protective eye goggles, and chemical-resistant clothing such as lab coats should be used to minimize risk when handling hydrochloric acid. Procedures and calculations. * All of the glassware’s to be used are to be washed with acid (HCL) and then with distilled water. * Nine standards, a blank and 2 random sample are going to be analysed. * Prepare a series of working standards in the range of 10-500 µg NO2-N/L * To 50 cm3 of each working standard and sample add 1. 0 cm3 of sulphanilamide, mix and stand for 2 minutes Calculations 1ml = 0. 5  µg of NO2- 1000 ml of solution contain = 10 ml of NO2- (100  µg) 50 ml of solution contain = 1 ml of NO2- (10  µg) SN| Volume of standardPHOSPHATE solution (s)| Volume ofwater| Concentration| Absorbance| 1. | 1. 0| 49| 10| 0. 003| 2. | 2. 0| 45| 50| 0. 035| 3. | 3. 0| 40| 100| 0. 058| 4. | 4. 0| 35| 150| 0. 074| 5. | 5. 0| 30| 200| 0. 099| Blank| 0| 50| 0| 0. 000| Sample A1| | 0. 022| Sample B1| | 0. 068| Result A Graph of absorbance (OD) against concentration ( µg). Using the equation (y=mx+b) to determine concentration of samples. Let Y equal the concentration. This is what will be solved for. Let X equal the absorbency of the sample. This is the absorbency measured by the spectrophotometer Allow â€Å"to equal the slope and b to equal the y-intercept y= 0. 019 x + 0. 947 Concentration of Sample 1 Absorbance of sample A1 = 0. 022 y= 0. 019 (0. 022) + 0. 947 = 0. 947 Concentration of unknown sample 2 Absorbance of sample B2 = 0. 068 y= 0. 019 (0. 068) + 0. 947 = 0. 948 Discussion The concentration phosphate ion in of samples D and E were determined In this experiment I determined the concentration of phosphate ion in samples D and E. These values were determined by obtaining data from solutions of known concentration. These solutions were placed in the spectrophotometer and then by plotting a graph of absorbance vs. concentration, an equation was produced from which the unknown concentration were determined Conclusion From the result of the experiment, it was determined that the relationship between concentration and absorbance is linear. The amount of light absorbed by a solution varies directly with solute concentration.

Sample Standard Deviation Example Problem

Sample Standard Deviation Example Problem This is a simple example of how to calculate sample variance and sample standard deviation. First, lets review the steps for calculating the sample standard deviation: Calculate the mean (simple average of the numbers).For each number: subtract the mean. Square the result.Add up all of the squared results.Divide this sum by one less than the number of data points (N - 1). This gives you the sample variance.Take the square root of this value to obtain the sample standard deviation. Example Problem You grow 20 crystals from a solution and measure the length of each crystal in millimeters. Here is your data: 9, 2, 5, 4, 12, 7, 8, 11, 9, 3, 7, 4, 12, 5, 4, 10, 9, 6, 9, 4 Calculate the sample standard deviation of the length of the crystals. Calculate the mean of the data. Add up all the numbers and divide by the total number of data points.(925412781193741254109694) / 20 140/20 7Subtract the mean from each data point (or the other way around, if you prefer... you will be squaring this number, so it does not matter if it is positive or negative).(9 - 7)2 (2)2 4(2 - 7)2 (-5)2 25(5 - 7)2 (-2)2 4(4 - 7)2 (-3)2 9(12 - 7)2 (5)2 25(7 - 7)2 (0)2 0(8 - 7)2 (1)2 1(11 - 7)2 (4)22 16(9 - 7)2 (2)2 4(3 - 7)2 (-4)22 16(7 - 7)2 (0)2 0(4 - 7)2 (-3)2 9(12 - 7)2 (5)2 25(5 - 7)2 (-2)2 4(4 - 7)2 (-3)2 9(10 - 7)2 (3)2 9(9 - 7)2 (2)2 4(6 - 7)2 (-1)2 1(9 - 7)2 (2)2 4(4 - 7)2 (-3)22 9Calculate the mean of the squared differences.(4254925011641609254994149) / 19 178/19 9.368This value is the sample variance. The sample variance is 9.368The population standard deviation is the square root of the variance. Use a calculator to obtain this number.(9.368)1/2 3.061The population standard deviation is 3.061 Compare this with the variance and population standard deviation for the same data.

Clean up the Resumess Essay Example | Topics and Well Written Essays - 500 words

Clean up the Resumess - Essay Example The screening tool has helped the HR department to function effectively. Usually the best candidates are among the first one who are being hired, if the company does not have the capacity to screen resume in a faster and accurate way the company would end up hiring someone who are the least qualified. The significant impact of using the Hire.com screening tool is that you will be able to hire candidates with qualities that you really prefer. Southern has able to increase the number of resume they screened from 40% to 65%. While the Plantronics sometimes screens out resume as many as 95%. In any business the most important component to succeed are their employees. One of the competitive advantages of using online screening tool is that you will be ahead of other companies in hiring best employee. The company will become more competitive since you will be hiring employees which are competent and effective in the position that the company need. Since the resume will be stored in the company's database, hiring again in the future will be easy. All you need to do is to review the database and pick the best for the position. Using the online screening tools the company will be able to access applicants from all locations. Another advantage of the software is the cost. Posting ad in the newspaper or other means of advertisement cost a lot and can reach only limited number of people.

Audit of client Linstead Parva plc Essay Example | Topics and Well Written Essays - 1250 words

Audit of client Linstead Parva plc - Essay Example (Independence Provisions Applicable to Audits of Public Interest) The potential threats that may flow are: The acceptance of the staff scheme will cause significant influence on the decision and the professional judgment of the audit team members. The team will not be independent during the course of the audit due to possibility of significant benefits that will aid the team which will impair their objectivity. The audit objective will not be attainted as the members of the team will not be able to exercise proper skepticism during the course of the audit which may impair the objectivity of the audit. (Audit Ethics) Solution It is strictly advised to the members of the Tick and Bash LLP, which are involved in the course of the audit, not to accept significant gifts from Linstead Parva which may impair their objectivity and professional skepticism during the course of the audit. The engagement partner should also make sure, in light of the code of ethics, that any other token or gift which may impair the objectivity is not accepted from the Linstead Parva plc. RELATIONSHIP WITH EMPLOYEE OF AUDIT CLIENT One of the junior accountant working at the CPD (Development) Ltd has become engaged to be married to the son of the engagement partner and since CPD (Development) Ltd is a 100% owned subsidiary of a jointly controlled entity of Linstead Parva plc, i.e. CPC Ltd, there also arises a risk that the audit engagement partner may exercise influence on the team members of the audit team where a matter arises during the course of the audit. However, there can be an argument that the risk will not be very substantial as the person to... It is strictly advised to the members of the Tick and Bash LLP, which are involved in the course of the audit, not to accept significant gifts from Linstead Parva which may impair their objectivity and professional skepticism during the course of the audit.The engagement partner should also make sure, in light of the code of ethics, that any other token or gift which may impair the objectivity is not accepted from the Linstead Parva plc.RELATIONSHIP WITH EMPLOYEE OF AUDIT CLIENTOne of the junior accountant working at the CPD (Development) Ltd has become engaged to be married to the son of the engagement partner and since CPD (Development) Ltd is a 100% owned subsidiary of a jointly controlled entity of Linstead Parva plc, i.e. CPC Ltd, there also arises a risk that the audit engagement partner may exercise influence on the team members of the audit team where a matter arises during the course of the audit.However, there can be an argument that the risk will not be very substantial as the person to whom the audit engagement partner's son is engaged to, is only a junior accountant at CPD (Development) Ltd. But the code of ethics has clearly said forth that "Such relationships must be avoided with the audit clients which tend to prejudice, bias or even influence the objectivity of the auditor".The risk can be mitigated by lowering the level of reliance placed on the work performed at the audit of CPD (Development) Ltd and exercising extra amount of skepticism when dealing with the particular accountant.

Organizational Culture Analysis Essay Example | Topics and Well Written Essays - 2750 words

Organizational Culture Analysis - Essay Example The essay "Organizational Culture Analysis" presents the analysis of the organizational culture as the defined whole set of values, personalities, norms, assumptions, behaviors, beliefs, ideas and tangible and intangible signs of the organization in its internal and external environments of business conduct. Such tangible and intangible artifacts include organizational goals such as mission and vision. Culture is a tool for the manager to inculcate a set of values, beliefs, and ideas in the employee whose vision is then transformed into that of the organization’s vision. According to Edgar Schein organizational culture is â€Å"A pattern of shared basic assumptions that the group learned as it solved its problems of external adaptation and internal integration, that has worked well enough to be considered valid and, therefore, to be taught to new members as the correct way you perceive, think, and feel in relation to those problems". Schein has provided one of the most thought-provoking definitions to organizational culture and goes on to claim that of all the attributes of the organization, culture is perhaps the most difficult to transform. He identifies three attributes in the organization culture. Next Geert Hofstede identified five dimensions as the basis for organizational culture. Hofstede actually preceded Schein the latter theory’s importance is much greater. It has been given the preference in this paper. A number of other scholars produced their theories on organizational culture too.

The Impacts Of Media On Pakistans Economy Media Essay

The Impacts Of Media On Pakistans Economy Media Essay The reason of choosing this particular topic is to establish the idea that how a countrys internal and external imbalances can be affected by its economy and how a country can face the potential threats while the nation is economically either strong or weak. Why am I choosing the topic? In terms of choosing this particular topic I have personally taken keen interest in the economy of Pakistan along with its political history and have observed a clear change with e involvement of media in the countrys politics, international affairs and economy with in last 2 decades. Historically Pakistan has been an agricultural state with 80% of the countrys population living in rural areas making the agricultural industry as the main source of employment and GDP.But in recent decades a sharp rise in the media industry has turned the direction of economy where even though most of the population still resides in the rural areas, the power of media has increased the influence on its over all economy. As per influence of media is concerned surprisingly it can create a two way influence on a countrys economy. There are observations and facts which have proved that in times of financial or economic crisis a media can play a role of either a life saver or even a fan over the burning flames of the economy. The character of media in particular has motivated myself to see and research the actual impact of media in Pakistans economy as it has been a controversial industry even though its growth seems to be a non stopping phenomena. The idea of researching into this topic is to establish a fact where we can put media into one category or may be not.As in past 2 decades we have send its huge impact on countrys politics and other affairs, I have noticed that it has effected the country in general more then ever before.Its effects on countrys politics are massive and I would like to find out whether these effects actually have been positive or rather have damaged the countrys image internationally where we have seen international media projecting the country as a state which is on its brink to collapse and is struggling to counteract the rising extremism inside the country.; International media has most probably played a key role in damaging the countrys economy with in last 2 decades where it is seen that this country has been named in media in relation to a place where there is all danger for any other country and unfortunately the impression passed over to the world has not been positive. International media has projected this country as a failed state, a dropping down economically not viable place for investment. On the other hand the media inside the country has influenced the countrys economy in a different way where more and more investment is being done to privatize this industry which includes, TV, Radio , news papers and etc. Because of this two way impact from one industry, this has in fact become a very interesting topic to work on trying to find out exactly where the country itself stands in between international and national media. The main purpose of choosing this title. As a student of Finance I would like to highlight the key factors which can shape a countrys economic and political stability. Pakistans economy in particular has been my key interest because of certain reasons including the fact that I was born there and have seen the biggest economic instability swings in last 30 years and the obvious relationship of this situation with the media and politics. In my observation politics in Pakistan itself has been influenced a lot by the existence of media especially with in last 2 decades where we have seen a massive rise in private media industry talking and taking stand against the old fashioned state run media and have given out the message globally that this country has the potential where international organizations can invest in in this country with a sense of freedom of speech and a free to use media for their financial campaigns with out getting influenced by the government. This in fact is a great success of media which has clearly shown the changes in general ranging from more investment to a clear and reliable media which can of course point out any significant change in time and making it possible to use media as a generator of revenue giving out jobs and keeping the country in a race with its neighboring countries as well as globally. The current media revolution sweeping the nation began ten years ago when Pakistan had just one television channel, according to the UKs Prospect Magazine. Today it has over 100. Together they have begun to open up a country long shrouded by political, moral and religious censorship-taking on the government, breaking social taboos and, most recently, pushing a new national consensus against the Taliban. The birth of privately owned commercial media has been enabled by the Musharraf-era deregulation, and funded by the tremendous growth in revenue from advertising targeted at the burgeoning urban middle class consumers. With television presence in over 16 million households accounting for 68% of the population in 2009, the electronic media have also helped inform and empower many rural Pakistanis, including women With an increase of 38% over 2008, the television advertising revenue for 2009 in Pakistan was Rs 16.4 billion ((US $200m), accounting for about half of the total ad market during the year. The TV ad revenue is continuing to rise as a percentage of total ad revenue, mostly at the expense of the print media ads. The biggest spenders in 2009 were the telecom companies with Rs 8 billion, followed closely by fast moving consumer goods (FMCG) sector with Rs. 7 billion, as reported by Pakistans GeoTV channel According to Daily Times, Chairman Mushtaq Malik of the Pakistan Electronic Media Regulatory Authority (PEMRA) has said that the cable television sector is the fast growing segment among the electronic media ventures. In the first 100 days of the current government, he has claimed that new licenses for 16 satellite TV channels, 10 FM radio stations, and 232 cable TV channels have been granted. It is anticipated that this would lead to additional investment worth Rs. 2.5 billion, generating 4000 additional jobs in this sector. The cable television sector alone is employing some 30,000 people in the country. Foreign media, such as the business channel CNBC Pakistan, have also found a niche with the stellar performance and increased viewer and investor interest in Karachi stock exchange in the last decade. The Gallup Pakistan estimates that the number of TV viewers age 10 and above has increased from 63 million in 2004 to 86 million in 2009. Though exact numbers are hard to find, it is estimated that the rapid growth of Pakistans media market over the last decade has attracted significant investment in the range of billions of dollars, and produced hundreds of millions of dollars in revenue. There are 150 advertising agencies and 74 production companies. Given the rising power of the media to shape Pakistani society, public opinion and government policy, I personally experienced the pervasive effects of Pakistans media boom , competing channels catering to almost every niche, whim and tastefrom news, politics, education, health, sports, comedy and talk shows to channels dedicated to cooking, fashion, fitness, music, business, religion, local languages and cultures etc. The media have had a profound influence on how many young people learn, talk, dress and behave, and emulate the outspoken media personalities, various experts, actors, preachers, singers, sportsmen, celebrities and fashion models. The growth in Pakistans media market has resulted in more useful information, more advertising, more competition and more choice for the public. Pakistan finds itself in the midst of many crises, ranging from a deep sense of insecurity and economic stagnation to low levels of human development and insufficient access to basic necessities of life such as proper nutrition, education and health care. My hope is that the mass media will effectively play a responsible role to inform and educate Pakistanis on the fundamental issues of poor governance in Pakistan, and help in shaping the economy, the debate and policies to solve some of the most serious problems facing the nation today. Required sources to complete the research. In order to present all these highlights mentioned above ,in detail I will be using people in general as my main source of information which will include interviews with key figures who are involved in Pakistans media industry as well as individuals from the finance market who have observed the statistics in last 2 decades in terms of rising up and slowing down economy and its interaction with the media in particular. Other sources which will be used will include Newspapers, electronic media and Internet.I will also be using international media reports about the countrys economy compared the national medias reports in same time frame to actually compare and evaluating my main thought whether international media is in any way damaging or constructive to this countrys economy or vice versa.

Modernization Vs. Dependency Theory Essay -- Political Science

LDC Advisement: Modernization Theory vs Dependency Theory   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  The path to modernization is one never clearly defined. The following report will attempt to analyze and critique our nation’s potential options concerning social and fiscal policy and use this information in an attempt to recommend future policy agenda.   Ã‚  Ã‚  Ã‚  Ã‚  We will be dealing with primarily two theories on national (i.e. LDC) policy - modernization theory and dependency theory. Both have their own sets of costs and benefits as well as they do policy approaches. But before we go further, we must compare the two in attempt to see if either would compromise our government’s mandate.   Ã‚  Ã‚  Ã‚  Ã‚  Currently our nation has found itself at a crossroads between the progress the western world has to offer and our own historical values and cultural integrity. We have various entities prodding us toward opposite ends of the spectrum. Our foreign investors wish only for further industrialization and perhaps political stability to further their own aims while certain conservative elements at home fear we our losing our cultural identity. A modernist approach would align itself with that of our foreign investors and MNC’s operating within our country. The theory claims that our society suffers from being traditional in so far as that we sacrifice economic and industrial progress by placing too great a focus on our cultural heritage (which largely includes religious ideals). The theory goes on to state that in order to modernize we must make further efforts to secularize our governmental processes and as have many western-industrialized nations separate church and state to as great a deal as possible#. While such an approach may satisfy foreign monetary interests we run a very real risk of a political backlash due to this cultural-imperialism of the west. If this backlash were to lead to internal instability we may not only scare off potential foreign investments but also compromise our own legitimacy to rule. This may effectively place our state in a worse position than with which we began!   Ã‚  Ã‚  Ã‚  Ã‚  The approach of the dependencistas however would allow for much greater cultural preservation though it is an approach not as much favored by the western powers-that-be. Dependency theory supports the notion that the western world wishes to impose its customs/ideals/etc. upon all - regardless of the cult... ...e recommendation entails as follows: The country needs to set both short and long-term goals for itself, each based on a specific theory of development. In the near future we need to ensure internal political stability while adopting a modernization approach to development. Groups that may present opposition to any resulting cultural changes need to be dealt with in some way - preferably a peaceful way, as we make our country more attractive to western investment. As more revenue/educational-opportunity/technological-exposure/etc. becomes available we should begin reinvesting in the infrastructure of our nation via ISI. The increased capital and knowledge we will have gained as the result of cooperation with the west should allow us to be much more competitive in the international marketplace. Specialization in a high-tech field could help us see further autonomy in the international realm.   Ã‚  Ã‚  Ã‚  Ã‚  Education, goal-setting, and political stability will all be of top priority if our development plans wish to have a chance of succeeding. If we can maintain focus in our policy, we should be able to achieve much greater levels of development with only minimal cultural disintegration.

Hcc Industries

1. Evaluate the decision to use â€Å"minimum performance standard† (MPS) targets instead of â€Å"stretch† targets. The purpose of setting a budget system is to briefly forecast a company’s performance in the following year, and it can also be a result control system that makes people in the corporation work properly to achieve the objectives and give them incentives by bonus related to performance. From this point of view, the budget system should be reasonable, achievable, and also have some challenge to ensure the hard working. HCC Industries was using â€Å"stretch† performance targets until 1987.The main idea of using â€Å"stretch† targets was to motivate managers to perform at the highest level possible by setting aggressive targets with probability of achievement between 75 % and 80 %. In order to motivate the managers, incentive system was directly related to the budget targets. The bonus potential for division managers was 30% of base sal ary and was equally based on profit before taxes (PBT) and subjective rating of performance depending on the degree of accomplishment of the targets in all seven performance areas.In case that only few of performance areas were not met, but the management considered them important, no subjective bonus would be provided. Objective bonus based on profit before taxes was provided as following: if 60 % of the budget was achieved, 80 % of the bonus potential was paid; if 100 % of the budget was achieved, 100 % of the bonus potential was paid; and if 140% of the budget was achieved, 150 % of the bonus potential was paid. Bonuses were paid quarterly at the level of 80 % of what was earned in order to prevent paying the bonuses that were not earned.However, philosophy of using â€Å"stretch† performance targets in HCC Industries did not work very well, since it encouraged thinking optimistically that pushed employees to perform at a higher level leading to innovation. This philosophy is advantageous for particular companies with a certain size that have an understanding of the markets and have an ability to influence them. HCC Industries was a small publicly held corporation which was just taking orders and not doing marketing. For this reason, there was little probability for the employees to enlarge the market and achieve an aggressive growth in sales every year.Performance targets were set too high and optimistic, they were unrealistic, unachievable, and not suitable for a company which could not make a sustaining growth by influencing the market. One of the main disadvantages of â€Å"stretch† targets was that they were set too high. This led to the situation that for the last four years HCC Industries never achieved its targets. As a result, employees lost their motivation and commitment to achieve the targets; they were discouraged, and exert less effort by giving up trying, as they felt that â€Å"stretch† concept was causing the corporatio n not to achieve its plans.If a division keeps missing the budgets, employees feel like a failure. Taking into account that the employees could not achieve the targets for already four years, they had lost their confidence and became used to missing the budget and the enthusiasm to strive for the objectives was weakened. Although the targets were set at an unreachable level, the control system was not that tight. Even if the managers failed to achieve the targets, they may also be paid the bonus. For example, the managers were still paid 80% of objective bonus potential based on profit before taxes if they had just achieved 60% of the budget.So if a manager was not so ambitious, he did not have to worry about meeting the budget. Moreover, important constraint to motivation of division personnel was that they did not know their bonus potential and the bases on which the bonus awards were made, as division managers did not want to disclose division-level financial information to their personnel. As a result, being unaware of the main objectives of the corporation and its incentive system, employees did not exactly know what they are expected to do and how they would be rewarded for their efforts.As a result of the lack of communication between division managers, middle managers and employees, division personnel became discouraged and demotivated. In addition, if employees are systematically undercompensated, the corporation may suffer from losing key employees. Another disadvantage of â€Å"stretch† performance targets was subjectivity of incentive system. According to the information, provided from the case study, bonuses were paid only to employees included in the bonus plan. It can be concluded that not all employees were included in this plan.Moreover, half of the bonus potential was based on subjective evaluation of top management. However, there is a concern whether top management could judge each division in appropriate way, taking into account all the differences between them. The aforementioned subjective aspect influences performance and motivation of employees. In addition, important demotivating factor was that awards had to be paid quarterly at the level of 80% of what was earned. It took three to four months before they actually were paid because the necessary approvals by several levels were needed before the payments could be made.The remaining 20 % was paid at the end of the year based on annual performance. Taking into account aforementioned challenges of using â€Å"stretch† performance targets, the management of the corporation had taken a decision to change the philosophy to â€Å"minimum performance standard† (MPS) targets from the fiscal year 1988 onwards. The philosophy provided a two-level budget standards. The first level included the minimum performance standard that determined the basic financial target that divisions should reach. The second level included the targets that were set more cha llenging, and had some incentive effect.The main objective of this decision was to submit budgets with realistic targets with an achievement probability of 100% in order that divisions could meet the targets. As a result, division managers and other employees would become motivated by being proud of themselves, having self-esteem and starting feeling like â€Å"winners†. Being motivated, division personnel would be encouraged to work hard, be entrepreneurial and increase the level of aspiration for the future. Moreover, they would be given an opportunity to earn extra rewards.Another advantage of highly achievable budget targets is that they reduce the costs of needed interventions from corporate managers and the costs of optimistic revenue projections. Highly achievable budget targets also reduce the risk of game-playing. However, not all potential advantages of MPS targets were achieved in HCC Industries. Before implementing MPS targets, corporate managers did not analyze c arefully all problems that the company faced on the level of operations, marketing and finance. Corporate managers of HCC industries introduced the following changes in the corporation connected with the switch to MPS budgeting philosophy.First of all, the probability of the achievement of the budgets had been changed. MPS budgets were to be set with the felt probability of achievement 100%. In addition, managers were asked to set targets that exceed normal capability and involve an increase by 25-30 % with the probability of achievement of 50 %. However, although the budgets were planned to be set realistic and achievable, in reality they were too high and some division managers were even more than before concerned whether it would be possible to achieve them.In some divisions, such as Glasseal and Sealtron, corporate managers just increased the planned budgets without any analysis of the actual situation and discussion about business potential and risks with the division managers. As a result, division managers became even more demotivated because of too optimistic budgets. Moreover, by missing the new budgets, employees could be fired. The division manager of Hermetite was not provided by top managers with essential information about the corporation, its strategy, targets and the actual situation, and targets of his division before planning the budget.Being just hired and having the lack of experience and knowledge, he set too optimistic targets that could never be achieved in reality. As a result, the new division manager experienced failure and frustration at the beginning of his working experience in HCC Industry that had led to undermining of his confidence and commitment. Secondly, the incentive system had also been changed. According to new incentive compensation plan, bonus pool consisted of 20 % of the amount by which actual division PBT exceed MPS and 25 % of the amount by which it exceeded the target.Bonuses were paid quarterly at a level of 90 % of that earned and the remaining 10 % at the end of the year depending on the performance. It can be concluded that the rewards became lower than with â€Å"stretch† performance targets. The probability of losing the job in case the MPS targets would not be met, became greater. The disadvantage of subjective judgment concerning the bonuses was not eliminated under the new philosophy, as the division managers were given the discretion to decide which of their subordinates would share in the bonus pool and how the pool would be allocated among themselves and the others included.The key factor to the success of the budget system lied in the accuracy of forecasting the market share, the booking rate, the potential growth of sales, and so on. If a manager had little knowledge about the market information and the competitors, it would be difficult to set the MPS. The effectiveness of the budget system would be weakened, and this was the one of the main problems HCC faced after intr oduction of the MPS system. Evaluating the decision of changing the corporation’s philosophy based on early results, allows concluding that the new concept was not implemented well, even given the fact that it was a good idea.After the first quarter of fiscal year 1988, none of the divisions achieved all of its MPS and some of the divisions missed their minimum performance by large margins. 2. Should HCC managers have expected that the MPS target-setting philosophy would be equally effective in all four operating divisions described? HCC Industries was organized into four operating divisions: Hermetic Seal, Glasseal, Sealtrol that were producing connectors of various types, and Hermetite that was producing custom-designed, micro-electronic packages. Each division was run by a general manager who was responsible for all business functions of a certain division.In order to proper evaluate and monitor divisions’ results on which the bonuses were based, controllers of each division reported to HCC’s CFO. Corporate managers should have taken into account that the divisions differ from each other, and should have considered each division separately while using MPS target-setting philosophy as each division had some specific characteristics that were different from others. Although all the three connector divisions were similar in that they were profitable but growing slowly, there was a significant difference in the degree of standardization of their product lines.For example, division Sealtrol was highly standardized and produced connectors with large economies of scale. On the contrast, Hermetic Seal was the least standardized division and operated primarily as a job shop that designed and produced small batches of custom connectors. Glasseal’s product lines had the medium level of standardization. The forth division Hermetite was completely different from the connector divisions. In comparison with the first three divisions, its market and competitors were well defined and its potential for growth was tremendous.In addition, Hermetite faced huge price competition and significant production technology and control challenges. Moreover, the production processes were complex and its engineering and production organizations were instable. Given the fact that all four divisions were independent from each other, had different targets, accounting and information systems, product standards, served different customers, had different professional background of division managers, a detailed analysis should have been made whether MPS targets would be equally effective in all four divisions.Mike Pelta, the manager of the first division Hermetic Seal was more motivated after the changes, as with â€Å"stretch† performance targets, the probability of the achievement of the targets was 85-90%, whereas with MPS targets it has increased by 95-98%. The reason of such a high probability of achievement the targets was the fact that the division manager had set conservative targets. Mike Pelta was a cofounder of HCC, and was more familiar with the situation of the company. From the first quarter revenue result of 1988, we can find that only Hermetic Seals exceeded target in both bookings and profit before tax.But on the other hand, there were some problems in product qualities such as returns and rework. The manager of the second division Glasseal was even more demotivated after the changes than under the â€Å"stretch† performance targets. After the division manager had prepared the budget based on realistic forecast, the targets were increased by corporate managers. As a result, the probability of the achievement of the targets remained 90%, as it was before changes. However, with the â€Å"stretch† targets the rewards were greater and could be earned even if the budget was missed.It could be concluded that the change for MPS targets had not become better and more motivated for the second d ivision. Historical performance of the third division Sealtron was not so good. Efficiency in sales per employee was 50 % below other connector divisions, and budget was missed so salaries were frozen. The division manager, Lou Palamara, was recruited in 1986. Lou Palamara had a background of an engineering manager, so he was not that familiar with the corporation and had less knowledge about budget and cost saving. The division manager was discouraged by newMPS targets, as the targets he set had significantly been increased by corporate managers and the probability of its achievement according to division manager, was only 60-65%. As a result, if the budget would have increased by 18 % compared to the previous year, there would be still no bonus earned. Moreover, in case MPS standards would not be achieved the manager could be fired. At the same time, CFO of the corporation assessed the probability of the achievement of the targets by 90%. His idea was to stimulate sales as the Sea ltron’s efficiency was below other connector divisions.It can be concluded that the opinion of top managers and division manager on the achievement of targets was significantly different (90 % versus 60-65 %). In this situation, in order to come to common solution, additional analysis should have been done of actual situation and current performance of the division. It should have been carefully analyzed the reason of poor performance of the third division. Before the fourth division Hermetite was acquired in August 1985, it had been operating at a loss for the price competition and the production problems.The former general manager of Hermetite left a serious delinquency problem, which had worsen the reputation of the company, so booking could not be guaranteed. The manager Alan Wong, being new in the corporation and lacking particular experience and knowledge, was not provided with additional training and explanation of the corporation’s and division’s main ob jectives. He thought the corporate managers would not accept a budget that projected a loss. As a result, he had set very aggressive and optimistic targets that were unrealistic and corporate managers decreased the targets.However, the probability of achievement of the performance target at sales was 80 % and PBT target was only 5 %. The performance of the forth division was very risky and uncertain. From the first quarter results of 1988, we can discover that the bookings and shipments were both below MPS. After analyzing MPS targets in all four divisions, it could be concluded that only the manager of the first division, that was the original HCC business, was motivated by the changes. The managers of the other three divisions were even more concerned than before the changes.The main reason of such situation was that corporate managers thought that the targets were achievable, whereas division managers had the opinion that they are not achievable and unrealistic. It can be conclud ed that there was a lack of communication between corporate and division managers. Moreover, the evaluation standards were the same for every division without taking into account different situation and various targets of each division. Given the fact that there were only four independent divisions, individual approach and specific evaluation standards for each division should have been used. 3.What, if anything, could have been done to improve the implementation of the new philosophy? From 1988 onwards, the philosophy in HCC Industries had been changed from â€Å"stretch† targets to minimum performance standard (MPS) targets. However, according to the results of the first quarter of 1988, none of the divisions had achieved all of its MPS. It can be concluded that there were some problems in implementing new philosophy. First of all, the targets of every division should be aligned with the long-term strategy of the corporation. Top managers should clearly set the company stra tegy and priorities and communicate them to all divisions.Division managers should in turn have been communicated to the corporate managers opportunities, resource needs, constraints and risks. HCC Industries would achieve success if all divisions would work together towards common targets and objectives instead of being concentrated on personal goals of each division that could diverge from the strategy of corporation. According to the information provided in the case study, corporate managers were confident that the set objectives were achievable and realistic, division managers had the opposite opinion.As a result, division managers were discouraged to perform from the beginning. In order to avoid demotivation and increase the probability of the achievement of the targets, the balance should be found between the desires of the top management and the possibilities of the divisions. In that case, they closely need to communicate with each other and come together to the common solut ion. This would lead to more realistic budgets, would build employees up and increase managers’ commitment to achieve the targets.Secondly, as long as at HCC all divisions were decentralized, the differences and unique characteristics of each division should be taken into account. As a result, different performance evaluation standards should be used for every division. It is impossible to compare Hermetic Seal which is the original HCC business with Glasseal and Sealtron that were acquired even if all of them produce connectors. Moreover, the degree of standardization of product lines within these divisions is completely different. The forth division is completely different from the first three.That is why individual approach should be used for every division. There are only four divisions, that is why it is realistic for corporate managers to evaluate and analyze each division separately. Whereas some divisions could achieve higher targets, for others lower targets are more realistic. When planning the budget, the actual situation and performance of each division should be analyzed instead of comparison with other divisions. Before increasing the targets of the second and third divisions a more detailed analysis was needed.In addition, it would be helpful for corporate managers to discuss with the division managers the possible constrains of poor performance of their divisions and to evaluate whether additional actions are needed in order to improve performance. In order not to demotivate employees, it would be better to agree the targets and to find compromise rather than just to set them. Corporate managers should establish the dialogue with division managers and other personnel in order to gather an objective opinion about the real situation inside the company.Such working atmosphere would encourage employees to be involved in the company more and would give them the feeling that corporate managers listen to them when changing strategic issues. Div ision managers would feel themselves important in the organization and would be more encouraged to perform at the highest level possible and would feel more responsibility for the achievement of the targets. Thirdly, top management before changing the budgeting philosophy should have made a sound analysis of current performance on corporate level as it is a very important decision.Implementing new standards for evaluating involves the research of effectiveness of operation potential growth, the personal characteristics, the financial constraints, resource limitations, opportunities and risks. Fourthly, personal controls could be used by training division managers. For instance, it was very important for the fourth division to provide the manager with some additional information about the corporation before planning the budget.Taking into account the fact that Alan Wong was relatively new in the corporation, it is quite obvious that he lacks some experience and knowledge to plan an e ffective and realistic budget. It is also clear from the information provided in the case study, that he was unfamiliar with the strategy of the corporation and the expectations from the top managers from his division. Planning the budget is very important for the corporation. It requires deep understanding not only the goals and objectives of a particular division but also of the entire corporation.As there was a lack of communication between the top management and the division managers, the new division manager had set unrealistic budget. Fifthly, there was not only a lack of communication between top management and division managers, but also between the division personnel. In order to increase the motivation amongst personnel, the division managers should clearly communicate the main objectives and set the targets to their employees and provide them with the detailed information concerning the incentive system.In this case, employees would understand what they are expected to do and how they would be rewarded for that. Sixthly, as the marketing information collection was an obvious obstacle for the accurate forecast of the future, it is important to set up a marketing team in the four divisions. The target of the team is to collect the market share data of each product in previous years, the reasons for the up-and-downs of the market share, find out what kind of improvement will the target consumers need in the future, the scale of potential customers, and so on.With the detailed information of the market, it will be easier for the division to forecast the future sales and try to expand the existing market. Seventhly, it can be suggested, that for the first year when the changes were applied, the top management could set very realistic conservative targets in order to encourage employees and make them feel that the targets are achievable. Given the fact that the targets were not achieved for the last four years the employees got used to missing targets and became demotivated.In addition, given the fact that some divisions, for example Hermetite, experience current problems, flexible targets could be set, that would depend on certain conditions at a particular time. Finally, before taking a new decision about the changes, it could be helpful to organize the meeting with all division managers in order to announce them personally about the expected changes and gather some ideas from them about how to implement the new philosophy. Such brainstorming could help to pay attention to some important aspects from the bottom that top management was not considering. Hcc Industries 1. Evaluate the decision to use â€Å"minimum performance standard† (MPS) targets instead of â€Å"stretch† targets. The purpose of setting a budget system is to briefly forecast a company’s performance in the following year, and it can also be a result control system that makes people in the corporation work properly to achieve the objectives and give them incentives by bonus related to performance. From this point of view, the budget system should be reasonable, achievable, and also have some challenge to ensure the hard working. HCC Industries was using â€Å"stretch† performance targets until 1987.The main idea of using â€Å"stretch† targets was to motivate managers to perform at the highest level possible by setting aggressive targets with probability of achievement between 75 % and 80 %. In order to motivate the managers, incentive system was directly related to the budget targets. The bonus potential for division managers was 30% of base sal ary and was equally based on profit before taxes (PBT) and subjective rating of performance depending on the degree of accomplishment of the targets in all seven performance areas.In case that only few of performance areas were not met, but the management considered them important, no subjective bonus would be provided. Objective bonus based on profit before taxes was provided as following: if 60 % of the budget was achieved, 80 % of the bonus potential was paid; if 100 % of the budget was achieved, 100 % of the bonus potential was paid; and if 140% of the budget was achieved, 150 % of the bonus potential was paid. Bonuses were paid quarterly at the level of 80 % of what was earned in order to prevent paying the bonuses that were not earned.However, philosophy of using â€Å"stretch† performance targets in HCC Industries did not work very well, since it encouraged thinking optimistically that pushed employees to perform at a higher level leading to innovation. This philosophy is advantageous for particular companies with a certain size that have an understanding of the markets and have an ability to influence them. HCC Industries was a small publicly held corporation which was just taking orders and not doing marketing. For this reason, there was little probability for the employees to enlarge the market and achieve an aggressive growth in sales every year.Performance targets were set too high and optimistic, they were unrealistic, unachievable, and not suitable for a company which could not make a sustaining growth by influencing the market. One of the main disadvantages of â€Å"stretch† targets was that they were set too high. This led to the situation that for the last four years HCC Industries never achieved its targets. As a result, employees lost their motivation and commitment to achieve the targets; they were discouraged, and exert less effort by giving up trying, as they felt that â€Å"stretch† concept was causing the corporatio n not to achieve its plans.If a division keeps missing the budgets, employees feel like a failure. Taking into account that the employees could not achieve the targets for already four years, they had lost their confidence and became used to missing the budget and the enthusiasm to strive for the objectives was weakened. Although the targets were set at an unreachable level, the control system was not that tight. Even if the managers failed to achieve the targets, they may also be paid the bonus. For example, the managers were still paid 80% of objective bonus potential based on profit before taxes if they had just achieved 60% of the budget.So if a manager was not so ambitious, he did not have to worry about meeting the budget. Moreover, important constraint to motivation of division personnel was that they did not know their bonus potential and the bases on which the bonus awards were made, as division managers did not want to disclose division-level financial information to their personnel. As a result, being unaware of the main objectives of the corporation and its incentive system, employees did not exactly know what they are expected to do and how they would be rewarded for their efforts.As a result of the lack of communication between division managers, middle managers and employees, division personnel became discouraged and demotivated. In addition, if employees are systematically undercompensated, the corporation may suffer from losing key employees. Another disadvantage of â€Å"stretch† performance targets was subjectivity of incentive system. According to the information, provided from the case study, bonuses were paid only to employees included in the bonus plan. It can be concluded that not all employees were included in this plan.Moreover, half of the bonus potential was based on subjective evaluation of top management. However, there is a concern whether top management could judge each division in appropriate way, taking into account all the differences between them. The aforementioned subjective aspect influences performance and motivation of employees. In addition, important demotivating factor was that awards had to be paid quarterly at the level of 80% of what was earned. It took three to four months before they actually were paid because the necessary approvals by several levels were needed before the payments could be made.The remaining 20 % was paid at the end of the year based on annual performance. Taking into account aforementioned challenges of using â€Å"stretch† performance targets, the management of the corporation had taken a decision to change the philosophy to â€Å"minimum performance standard† (MPS) targets from the fiscal year 1988 onwards. The philosophy provided a two-level budget standards. The first level included the minimum performance standard that determined the basic financial target that divisions should reach. The second level included the targets that were set more cha llenging, and had some incentive effect.The main objective of this decision was to submit budgets with realistic targets with an achievement probability of 100% in order that divisions could meet the targets. As a result, division managers and other employees would become motivated by being proud of themselves, having self-esteem and starting feeling like â€Å"winners†. Being motivated, division personnel would be encouraged to work hard, be entrepreneurial and increase the level of aspiration for the future. Moreover, they would be given an opportunity to earn extra rewards.Another advantage of highly achievable budget targets is that they reduce the costs of needed interventions from corporate managers and the costs of optimistic revenue projections. Highly achievable budget targets also reduce the risk of game-playing. However, not all potential advantages of MPS targets were achieved in HCC Industries. Before implementing MPS targets, corporate managers did not analyze c arefully all problems that the company faced on the level of operations, marketing and finance. Corporate managers of HCC industries introduced the following changes in the corporation connected with the switch to MPS budgeting philosophy.First of all, the probability of the achievement of the budgets had been changed. MPS budgets were to be set with the felt probability of achievement 100%. In addition, managers were asked to set targets that exceed normal capability and involve an increase by 25-30 % with the probability of achievement of 50 %. However, although the budgets were planned to be set realistic and achievable, in reality they were too high and some division managers were even more than before concerned whether it would be possible to achieve them.In some divisions, such as Glasseal and Sealtron, corporate managers just increased the planned budgets without any analysis of the actual situation and discussion about business potential and risks with the division managers. As a result, division managers became even more demotivated because of too optimistic budgets. Moreover, by missing the new budgets, employees could be fired. The division manager of Hermetite was not provided by top managers with essential information about the corporation, its strategy, targets and the actual situation, and targets of his division before planning the budget.Being just hired and having the lack of experience and knowledge, he set too optimistic targets that could never be achieved in reality. As a result, the new division manager experienced failure and frustration at the beginning of his working experience in HCC Industry that had led to undermining of his confidence and commitment. Secondly, the incentive system had also been changed. According to new incentive compensation plan, bonus pool consisted of 20 % of the amount by which actual division PBT exceed MPS and 25 % of the amount by which it exceeded the target.Bonuses were paid quarterly at a level of 90 % of that earned and the remaining 10 % at the end of the year depending on the performance. It can be concluded that the rewards became lower than with â€Å"stretch† performance targets. The probability of losing the job in case the MPS targets would not be met, became greater. The disadvantage of subjective judgment concerning the bonuses was not eliminated under the new philosophy, as the division managers were given the discretion to decide which of their subordinates would share in the bonus pool and how the pool would be allocated among themselves and the others included.The key factor to the success of the budget system lied in the accuracy of forecasting the market share, the booking rate, the potential growth of sales, and so on. If a manager had little knowledge about the market information and the competitors, it would be difficult to set the MPS. The effectiveness of the budget system would be weakened, and this was the one of the main problems HCC faced after intr oduction of the MPS system. Evaluating the decision of changing the corporation’s philosophy based on early results, allows concluding that the new concept was not implemented well, even given the fact that it was a good idea.After the first quarter of fiscal year 1988, none of the divisions achieved all of its MPS and some of the divisions missed their minimum performance by large margins. 2. Should HCC managers have expected that the MPS target-setting philosophy would be equally effective in all four operating divisions described? HCC Industries was organized into four operating divisions: Hermetic Seal, Glasseal, Sealtrol that were producing connectors of various types, and Hermetite that was producing custom-designed, micro-electronic packages. Each division was run by a general manager who was responsible for all business functions of a certain division.In order to proper evaluate and monitor divisions’ results on which the bonuses were based, controllers of each division reported to HCC’s CFO. Corporate managers should have taken into account that the divisions differ from each other, and should have considered each division separately while using MPS target-setting philosophy as each division had some specific characteristics that were different from others. Although all the three connector divisions were similar in that they were profitable but growing slowly, there was a significant difference in the degree of standardization of their product lines.For example, division Sealtrol was highly standardized and produced connectors with large economies of scale. On the contrast, Hermetic Seal was the least standardized division and operated primarily as a job shop that designed and produced small batches of custom connectors. Glasseal’s product lines had the medium level of standardization. The forth division Hermetite was completely different from the connector divisions. In comparison with the first three divisions, its market and competitors were well defined and its potential for growth was tremendous.In addition, Hermetite faced huge price competition and significant production technology and control challenges. Moreover, the production processes were complex and its engineering and production organizations were instable. Given the fact that all four divisions were independent from each other, had different targets, accounting and information systems, product standards, served different customers, had different professional background of division managers, a detailed analysis should have been made whether MPS targets would be equally effective in all four divisions.Mike Pelta, the manager of the first division Hermetic Seal was more motivated after the changes, as with â€Å"stretch† performance targets, the probability of the achievement of the targets was 85-90%, whereas with MPS targets it has increased by 95-98%. The reason of such a high probability of achievement the targets was the fact that the division manager had set conservative targets. Mike Pelta was a cofounder of HCC, and was more familiar with the situation of the company. From the first quarter revenue result of 1988, we can find that only Hermetic Seals exceeded target in both bookings and profit before tax.But on the other hand, there were some problems in product qualities such as returns and rework. The manager of the second division Glasseal was even more demotivated after the changes than under the â€Å"stretch† performance targets. After the division manager had prepared the budget based on realistic forecast, the targets were increased by corporate managers. As a result, the probability of the achievement of the targets remained 90%, as it was before changes. However, with the â€Å"stretch† targets the rewards were greater and could be earned even if the budget was missed.It could be concluded that the change for MPS targets had not become better and more motivated for the second d ivision. Historical performance of the third division Sealtron was not so good. Efficiency in sales per employee was 50 % below other connector divisions, and budget was missed so salaries were frozen. The division manager, Lou Palamara, was recruited in 1986. Lou Palamara had a background of an engineering manager, so he was not that familiar with the corporation and had less knowledge about budget and cost saving. The division manager was discouraged by newMPS targets, as the targets he set had significantly been increased by corporate managers and the probability of its achievement according to division manager, was only 60-65%. As a result, if the budget would have increased by 18 % compared to the previous year, there would be still no bonus earned. Moreover, in case MPS standards would not be achieved the manager could be fired. At the same time, CFO of the corporation assessed the probability of the achievement of the targets by 90%. His idea was to stimulate sales as the Sea ltron’s efficiency was below other connector divisions.It can be concluded that the opinion of top managers and division manager on the achievement of targets was significantly different (90 % versus 60-65 %). In this situation, in order to come to common solution, additional analysis should have been done of actual situation and current performance of the division. It should have been carefully analyzed the reason of poor performance of the third division. Before the fourth division Hermetite was acquired in August 1985, it had been operating at a loss for the price competition and the production problems.The former general manager of Hermetite left a serious delinquency problem, which had worsen the reputation of the company, so booking could not be guaranteed. The manager Alan Wong, being new in the corporation and lacking particular experience and knowledge, was not provided with additional training and explanation of the corporation’s and division’s main ob jectives. He thought the corporate managers would not accept a budget that projected a loss. As a result, he had set very aggressive and optimistic targets that were unrealistic and corporate managers decreased the targets.However, the probability of achievement of the performance target at sales was 80 % and PBT target was only 5 %. The performance of the forth division was very risky and uncertain. From the first quarter results of 1988, we can discover that the bookings and shipments were both below MPS. After analyzing MPS targets in all four divisions, it could be concluded that only the manager of the first division, that was the original HCC business, was motivated by the changes. The managers of the other three divisions were even more concerned than before the changes.The main reason of such situation was that corporate managers thought that the targets were achievable, whereas division managers had the opinion that they are not achievable and unrealistic. It can be conclud ed that there was a lack of communication between corporate and division managers. Moreover, the evaluation standards were the same for every division without taking into account different situation and various targets of each division. Given the fact that there were only four independent divisions, individual approach and specific evaluation standards for each division should have been used. 3.What, if anything, could have been done to improve the implementation of the new philosophy? From 1988 onwards, the philosophy in HCC Industries had been changed from â€Å"stretch† targets to minimum performance standard (MPS) targets. However, according to the results of the first quarter of 1988, none of the divisions had achieved all of its MPS. It can be concluded that there were some problems in implementing new philosophy. First of all, the targets of every division should be aligned with the long-term strategy of the corporation. Top managers should clearly set the company stra tegy and priorities and communicate them to all divisions.Division managers should in turn have been communicated to the corporate managers opportunities, resource needs, constraints and risks. HCC Industries would achieve success if all divisions would work together towards common targets and objectives instead of being concentrated on personal goals of each division that could diverge from the strategy of corporation. According to the information provided in the case study, corporate managers were confident that the set objectives were achievable and realistic, division managers had the opposite opinion.As a result, division managers were discouraged to perform from the beginning. In order to avoid demotivation and increase the probability of the achievement of the targets, the balance should be found between the desires of the top management and the possibilities of the divisions. In that case, they closely need to communicate with each other and come together to the common solut ion. This would lead to more realistic budgets, would build employees up and increase managers’ commitment to achieve the targets.Secondly, as long as at HCC all divisions were decentralized, the differences and unique characteristics of each division should be taken into account. As a result, different performance evaluation standards should be used for every division. It is impossible to compare Hermetic Seal which is the original HCC business with Glasseal and Sealtron that were acquired even if all of them produce connectors. Moreover, the degree of standardization of product lines within these divisions is completely different. The forth division is completely different from the first three.That is why individual approach should be used for every division. There are only four divisions, that is why it is realistic for corporate managers to evaluate and analyze each division separately. Whereas some divisions could achieve higher targets, for others lower targets are more realistic. When planning the budget, the actual situation and performance of each division should be analyzed instead of comparison with other divisions. Before increasing the targets of the second and third divisions a more detailed analysis was needed.In addition, it would be helpful for corporate managers to discuss with the division managers the possible constrains of poor performance of their divisions and to evaluate whether additional actions are needed in order to improve performance. In order not to demotivate employees, it would be better to agree the targets and to find compromise rather than just to set them. Corporate managers should establish the dialogue with division managers and other personnel in order to gather an objective opinion about the real situation inside the company.Such working atmosphere would encourage employees to be involved in the company more and would give them the feeling that corporate managers listen to them when changing strategic issues. Div ision managers would feel themselves important in the organization and would be more encouraged to perform at the highest level possible and would feel more responsibility for the achievement of the targets. Thirdly, top management before changing the budgeting philosophy should have made a sound analysis of current performance on corporate level as it is a very important decision.Implementing new standards for evaluating involves the research of effectiveness of operation potential growth, the personal characteristics, the financial constraints, resource limitations, opportunities and risks. Fourthly, personal controls could be used by training division managers. For instance, it was very important for the fourth division to provide the manager with some additional information about the corporation before planning the budget.Taking into account the fact that Alan Wong was relatively new in the corporation, it is quite obvious that he lacks some experience and knowledge to plan an e ffective and realistic budget. It is also clear from the information provided in the case study, that he was unfamiliar with the strategy of the corporation and the expectations from the top managers from his division. Planning the budget is very important for the corporation. It requires deep understanding not only the goals and objectives of a particular division but also of the entire corporation.As there was a lack of communication between the top management and the division managers, the new division manager had set unrealistic budget. Fifthly, there was not only a lack of communication between top management and division managers, but also between the division personnel. In order to increase the motivation amongst personnel, the division managers should clearly communicate the main objectives and set the targets to their employees and provide them with the detailed information concerning the incentive system.In this case, employees would understand what they are expected to do and how they would be rewarded for that. Sixthly, as the marketing information collection was an obvious obstacle for the accurate forecast of the future, it is important to set up a marketing team in the four divisions. The target of the team is to collect the market share data of each product in previous years, the reasons for the up-and-downs of the market share, find out what kind of improvement will the target consumers need in the future, the scale of potential customers, and so on.With the detailed information of the market, it will be easier for the division to forecast the future sales and try to expand the existing market. Seventhly, it can be suggested, that for the first year when the changes were applied, the top management could set very realistic conservative targets in order to encourage employees and make them feel that the targets are achievable. Given the fact that the targets were not achieved for the last four years the employees got used to missing targets and became demotivated.In addition, given the fact that some divisions, for example Hermetite, experience current problems, flexible targets could be set, that would depend on certain conditions at a particular time. Finally, before taking a new decision about the changes, it could be helpful to organize the meeting with all division managers in order to announce them personally about the expected changes and gather some ideas from them about how to implement the new philosophy. Such brainstorming could help to pay attention to some important aspects from the bottom that top management was not considering.

Halloween Quotes for Kids

Halloween Quotes for Kids Halloween has special significance for children. Kids look forward to October 31 when they can play out their imagination and spook their friends. Retailers have realized the importance of this holiday and stock up a variety of wild costumes for kids. You can get any costume- from a pirate to Pinocchio. On Halloween night, kids dress up in zany costumes, pretending to be scary monsters and weird creatures. They travel door to door, usually accompanied by an adult and yell, trick or treat! If the friendly neighbor chooses to be tricked, the kids play a naughty prank on the neighbor. Most people enjoy treating kids with candy. Kids also love to share ghost stories, and spooky tales of dead people to add to the thrill. If your children enjoy Halloween, join them in their naughty adventures. Share these wonderful Halloween quotes for kids to make the night a truly memorable one. Organize a Halloween costume party and encourage kids to dress up in wicked and wacky costumes. Titus Lucretius Carus For as children tremble and fear everything in the blind darkness, so we in the light sometimes fear what is no more to be feared than the things children in the dark hold in terror and imagine will come true. Robert Brault I dont know that there are real ghosts and goblins, but there are always more trick-or-treaters than neighborhood kids. David Arquette The first horror film I remember seeing in the theatre was Halloween and from the first scene when the kid puts on the mask and it is his POV, I was hooked. R. L. Stine When I was a kid my family was really poor and I remember one Halloween I wanted to dress up really scary and my parents came home with a duck costume. I wore that costume for years! I hated it. Gavin DeGraw When I was a kid I got busted for throwing a rock through a car window and egging a house on Halloween. Larry, Curb Your Enthusiasm [When trick or treating kids ask for some candy] Yeah, its Halloween but that doesnt mean you can go around to peoples houses and bilk candy from them. Emily Dickinson One need not be a chamber to be haunted;One need not be a house;The brain has corridors surpassingMaterial place. Dexter Kozen Shadows of a thousand years rise again unseen,Voices whisper in the trees, Tonight is Halloween! Henry C. Link Fear is natures warning signal to get busy. Virna Sheard Hark! Hark to the wind! Tis the night, they say,When all souls come back from the far away-The dead, forgotten this many a day! Scottish Saying From ghoulies and ghosties and long leggety beasties and things that go bump in the night, Good Lord, deliver us! Theodosia Garrison At first cock-crow, the ghosts must goBack to their quiet graves below. William Motherwell Men say that in this midnight hour,The disembodià ¨d have powerTo wander as it liketh them,By wizard oak and fairy stream. John Kendrick Bangs Bring forth the raisins and the nuts-Tonight All-Hallows Spectre strutsAlong the moonlit way. Henry David Thoreau I would rather sit on a pumpkin and have it all to myself than be crowded on a velvet cushion. Dennis Yost and the Classics IV Just like a ghost, youve been a-hauntin my dreams, So Ill propose on Halloween. Love is kinda crazy with a spooky little girl like you. Shakespeare O horror! Horror! Horror! Tongue nor heart Cannot conceive nor name thee! Steve Almond Nothing on Earth so beautiful as the final haul on Halloween night. William Shakespeare Tis now the very witching time of night, When churchyards yawn and hell itself breathes out, Contagion to this world. J. M. Barrie A house is never still in darkness to those who listen intently; there is a whispering in distant chambers, an unearthly hand presses the snib of the window, the latch rises. Ghosts were created when the first man awoke in the night. Janet Little, On Halloween At Halloween, when fairy spritesPerform their mystic gambols,When ilka witch her neebour greets,On their nocturnal rambles;When elves at midnight-hour are seen,Near hollow caverns sportin,Then lads an lasses aft convene,In hopes to ken their fortune,By freets that night. Nina Willis Walter The witches flyAcross the sky,The owls go, Who? Who? Who?The black cats yowlAnd green ghosts howl,Scary Halloween to you! Henry Wadsworth Longfellow, Haunted Houses The spirit-world around this world of senseFloats like an atmosphere, and everywhereWafts through these earthly mists and vapours denseA vital breath of more ethereal air.

Quotes From Pride and Prejudice - Jane Austen

Quotes From 'Pride and Prejudice' - Jane Austen Pride and Prejudice begins with one of classic literatures  most famous lines. It is a truth universally acknowledged, that a single man in possession of a good fortune, must be in want of a wife. With a keen understanding of courtship, Jane Austen has been credited with helping turn marriages from a contract to a romance. Her novels helped promote the idea of marrying for love. Austen wrote many great heroes but its the hero of her first novel who steals most fans hearts. Mr. Darcy is one of the two most memorable characters in Pride and Prejudice. His battle of wits with Elizabeth Bennet has delighted readers for centuries. Here are a few quotes by (and about) Mr. Darcy. These words will give you a better sense of who he is, and what he appears to want and need in Jane Austens world. Quotes From Mr. Darcy Quotes She is tolerable, but not handsome enough to tempt me; I am in no humor at present to give consequence to young ladies who are slighted by other men. You had better return to your partner and enjoy her smiles, for you are wasting your time with me.- Jane Austen, Pride and Prejudice, Mr Darcy to Mr. Bingley about Elizabeth Bennet; Ch. 3 But I can assure you, she added, that Lizzy does not lose much by not suiting his fancy; for he is a most disagreeable, horrid man, not at all worth pleasing. So high and so conceited that there was no enduring him! He walked here, and he walked there, fancying himself so very great! Not handsome enough to dance with! I wish you had been there, my dear, to have given him one of your set-downs. I quite detest the man.- Jane Austen, Pride and Prejudice, Ch. 3; Mrs. Bennet to Mr. Bennet about Mr. Darcy I could easily forgive his pride, if he had not mortified mine.- Jane Austen, Pride and Prejudice, Ch. 5, Elizabeth about Darcy Your conjecture is totally wrong, I assure you. My mind was more agreeably engaged. I have been meditating on the very great pleasure which a pair of fine eyes in the face of a pretty woman can bestow.- Jane Austen, Pride and Prejudice, Ch. 6; Darcy to Miss Bingley A ladys imagination is very rapid; it jumps from admiration to love, from love to matrimony, in a moment.- Jane Austen, Pride and Prejudice, Ch. 6, Darcy to Miss Bingley Nothing is more deceitful, said Darcy, than the appearance of humility. It is often only carelessness of opinion, and sometimes an indirect boast.- Jane Austen, Pride and Prejudice, Ch. 10; Darcy The power of doing anything with quickness is always prized much by the possessor, and often without any attention to the imperfection of the performance.- Jane Austen, Pride and Prejudice, Ch. 10 To learn more about Pride and Prejudice check out this  study guide.

Economic Analysis of the Fast Food Industry in Houston Essay

Economic Analysis of the Fast Food Industry in Houston - Essay Example This is because these people have the greatest disposable income. As a result, most fast food establishments in the region are usually set up in places where such population can manage to access them easily. Factors influencing demand and supply The demand for fast food in Houston is projected to expand in the future. This is because of the various factors that influence the demand and supply of products. The tastes and preferences of consumers influence the demand for a product. For example, the US is described as a fast food nation. This means that most people in the region are attached to fast foods. Most people prefer to consume food from fast food restaurants because of their good price and suitability that makes it possible for people to cook. Moreover, because of the consumers desire to reduce food wastage, they prefer to take fast food. This state of affairs has made most people prefer fast foods to cooking food at home (Ritter). It is evident from the graph above that an inc rease in the expected prices causes an increase in demand. Thus, there will be a right ward shift of the demand curve. The availability of substitutes and compliments also influences the demand for fast food in Houston. There are many establishments that offer different kinds of fast food in the region. This state of affairs has led to a growth in competition in the fast food industry. In this case, only the restaurants that offer the best food in the market have been able to stay ahead of the rivalry. Supermarkets also offer convenience foods thereby tampering with the growth of the fast food industry. However, the growing popularity of the fast food industry has led to reduced demand of convenience... This essay offers a modern comprehensive review of the recent economic developments in the fast food industry in Houston. As it has been shown in the essay, the industry generates huge income for government, employees and the fast food establishments. The value of the fast food industry is anticipated to keep rising at a rate of 4 percent every year because of the increased demand of fast food in the region. Most people who take food in fast food restaurants usually have busy schedules. This implies that they cannot manage to prepare their own meals in an appropriate manner. This state of affairs has made most people develop great reliance on fast foods. The main players in the fast food industry in Houston include McDonalds, Burger King, Pizza Hut and KFC. The demand for fast food in Houston is projected to expand in the future. This is because of the various factors that influence the demand and supply of products. The tastes and preferences of consumers influence the demand for a product. Most people prefer to consume food from fast food restaurants because of their good price and suitability that makes it possible for people to cook. In order for businesses to operate in accordance to the expectations of their customers, it is important for the government to set up measures that regulate the operations of the businesses. In the case of the fast food industry, it is important for the government in Houston to set measures whose focus would be to ensure that the industry is sustainable.

Diverse Britain Essay Example | Topics and Well Written Essays - 1250 words

Diverse Britain - Essay Example A list is long but important thing is that rule and laws gave them equal rights who settled in UK regardless of their ethnicity, race and culture. (Ethnic Diversity) Some of the demographic features of ethnic diversity in UK are worth enumerating. Ethnicity Population Proportion in total UK population Bangladeshi 283,063 0.5% Black (others) �,585 0.2% Black African �,277 0.8% Black Caribbean �,876 1.0% Chinese �,403 0.4% Indian �,053,411 1.8% Mixed race �,117 1.2% Other �,615 0.4% Other Asian (non-Chinese) �,644 0.4% Pakistani �,285 1.3% White �,153,898 92.1% Source: http://www.statistics.gov.uk/CCI/nugget.asp?ID=273 It will be most interesting now to see how media people respond to the notions of ethnic diversity in UK. R eports from Print Media Murrells (2011) in The Guardian reports under the heading ‘Preston's Nathan Ellington claims he was racially abused at Millwall’. Nathan Ellington claimed he had a worst racial humiliation of his life at Millwall. "I've never seen a more racist and abusive crowd as I saw today at Millwall! Disgrace to the human race." Murrells (2011) further writes quoting Ellington, â€Å"I didn't bite or report it, it's just sad really that there are still people with so much anger at a football match." (Murrells, 2011) Ellington further said that he was inflicted with a remark of thief and targeted of monkey noises as reported in the paper. It is really surprising that such a celebrity player has to face such hostile remarks particularly, when Nathan is British born. It was simply not a club rivalry but something more than that. â€Å"Commercials represent only 5% of TV ads featuring ethnic minorities† (Sweney, 2011) With above title a report published in The Guardian in its issue of 21 April 2011. Subject of the report was that only 5% of the 35,000 ads were involved with the actors from black or other ethnic community. The report prepared by Clearcast mentioned that TV advertising is not proportionately representing blacks in view of the fact that Asian, Black and other ethnic minorities constitute about 13 percent of the UK population. Issue of ethnicity and belonging to black community still prevents one doing significant role in television commercials. Otherwise, how can one explain such a low level of participation in the ad business? It seems that it will take years before any racial discrimination is totally eliminated and participation of the other ethnic community sharply increases. The report further said that only 1130 ads were such that when any actor of ethnic minority group was given a main role. It means that commercials are not appropriately representing the diverse makeup of the UK. (Sweney, 2011) â€Å"Your tr ibe need to behave like proper English children: What BBC's Mishal Husain was told by shopper in supermarket.† (Jarvis, 2011) Above heading appeared in Daily Mail in its issue of 8th May, 2011. The children of BBC news reporter Mishal Husain were told to behave ‘like proper English children’ when she visited a mall in Waitrose for shopping along with her three children and husband. Ms Husain is the upcoming star of BBC News. She is born and brought up in UK though her parents belong to Pakistan. Even BBC1’