Change and Culture Essay

To adjust to greater competition and pressures of obtaining increased organizational efficiency and cost containment, many organizations have begun to examine strategies related to restructuring and downsizing to maintain organizational viability. These processes have included mergers and acquisitions, and redefining occupational roles of workers within the organization. Consequently, successful management of the structural change process can be daunting and overwhelming if not handled in an organized and thoughtful process. Those who are responsible for the process must recognize the barrier that may be hindrances to conception and implementation of the change process These barriers include: (a) lack of concise and coordinated planning/goals, (b) resistance to change within the organizational workforce, (c) failure to consistently evaluate the progress of the proposed change within context of the entire system, and adjust methodology as necessary. Thus, in order to achieve a balance between achieving organizational goals and addressing the uncertainty that may occur in the workforce, organizational leaders are tasked with the responsibilities of finding creative means to facilitate the mandated objectives while at the same time finding vehicles to maintain adequate levels of employee satisfaction and productivity in order to facilitate the ability to service their respective consumer base. It is the purpose of this paper to re-examine the fictional organization created in the week number four Culture Case Study I, and determine the means to facilitate a redesign in workforce brought on by a mandated reduction in work force. This paper will examine the concept of the universal worker as part of the proposed redesign, with further evaluation of the communications and organizational process that will have to be implemented in order to facilitate successful achievement of administrative goals and employee adoption of their new roles. Case Study In an attempt to achieve increased cost containment, six months after the merger of Charles Drew and Florence Nightingale Hospitals, the managerial hierarchy has proposed a significant reduction in workforce. Subsequently, a decision was made that the best way to facilitate continued safe patient care was to redesign the patient care delivery workforce. As recommended by the administration, the initial proposal for redesign was that of the universal worker. As understood, the paradigm of the universal worker would allow remaining employees to be cross trained in different job duties; thus, allowing more flexibility in staffing and personnel assignments (web. Answers. com, 2011). Through examination and implementation of the concepts of the universal worker, along with consideration of other strategies, the thought is that assigning additional duties to remaining personnel would allow continued adequate delivery of many support services. Past experiences in attempt to implement this type of change has proven to be met with resistance by personnel, and difficult to implement when introduced at other organizations; nevertheless, the administration has charged the mid-level management team with successful achievement of the proposed redesign in order to meet organizational objectives. The Change Process When beginning the process of job redesign within this organization, it will be important for those who are responsible for implementation of the change to understand the overall mission and goals of the organization and the global ramification of the change within the institution. It will be important to understand that a change in one area can have either a positive or negative impact on other areas within the organization (Leadership and Motivational Training, 2012). Thus, in viewing the potential upheaval that a reduction in workforce can create, and the subsequent potential for feelings of job insecurity that may be experienced by the remaining workforce, it will be important to allay these fears and allow enhanced empowerment of employees being affected by this process. This can be facilitated through inclusion of employees in the redesign process (i. e. implementation of work teams) and establishment of clear channels of communication within the system. Managing this process of job redesign and change can be successfully implemented through the initiation of a defined process to guide the change and an assigned change leadership team (Resnick, 2012). Through this process not only will the affected employees be allowed to have input to the process that will affect the their individual stake in the organization, they will also have the opportunity to implement substantial and lasting change for the overall system and the culture of then organization. As described by Peter Senge in his postulates regarding organizational culture, this inclusion, empowerment and open communication among those in leadership and front-line employees will work to facilitate what he described as the learning organization and systems thinking (Smith, 2001). Inclusion of work teams into the change process, and the subsequent implementation of the cross training of employees into various departmental roles, the concept of the universal worker among the care provision staff will allow the reshaping of the organization into one that has the flexibility to adapt to the rapid change that may be incurred, and foster an atmosphere of collegiality – where people are continually learning to see the whole together (Smith, 2001). Measuring Processes and Expectations Post Redesign  Once the redesign process has been completed it will be very important to implement measures to review the process of performance and if the predetermined goals of the change are being met. Since employees will potentially be relied on to increase performance and acquire additional employment duties, it will be important to examine how the implementation of change will impact employee satisfaction. It can be said that if an organization can meet the need for a satisfying work environment, then the employee will have a greater propensity to be more motivated and productive. As a consequence the satisfaction will have a greater correlation to improved outcomes and patient satisfaction. Examination of outcomes can be achieved through the â€Å"utilization of the creation of a balanced scoreboard-or dashboard- of the key internal and external measures that provide a comprehensive view of the organizations performance, with as much insight as possible regarding the implication of the change for the future† (Resnick, 2012). Examples of these tools could include utilization of employee satisfaction surveys, provision of strategically placed employee eedback boxes to solicit employee input to parameters for ongoing improvement, and implementation of employee councils to examine how to best meet the needs for improving overall workplace satisfaction and employee morale. With completion of the tools for review of performance, the organization will have a balanced understanding as to how the implementation of the job redesign has impacted organizational goals and desired outcomes -i. e. decreased attrition rates of employees, decreased sick leave utilized, increased patient safety and patient satisfaction scores – (Ugboro, 2006) . Creation of a Learning Organization As the paradigm begins to change in the organization, and implementation of change becomes manifest within the organization, it will be important to foster structures that will provide for a cohesive and well-rounded workforce. As a result, it will be important that all employees have a thorough understanding of what is meant by a learning organization, and how this concept will be imperative e to the ongoing success of current and future change. As described by Peter Senge, the learning organization can be viewed as a structural environment in which the employee is empowered to create the outcomes that they truly desire. In this type of environment, the employee is allowed the room of creativity to redefine not only themselves within their organizational role, but also the organization itself. This paradigm shift differs from the previous downstream constricted organizational structures in that it moves the process for acquiring new organizational traits and skills from learning a means of survival to one that embraces learning that enhances the capacity to create and innovate (Smith, 2001). As such, this paradigm allows progress of the employee to have a greater role in obtaining self-actualization through growth of objectively understanding how change and the end-results of proposed change will affect the organization and the system as a whole. Additionally, it changes the view of management from one of overseer, to one of fostering learning opportunities and helping employees develop systemic understanding (Smith, 2001). In relation to the mandated job restructuring that will take place within this merged organization this change will be facilitated through the creation of interdisciplinary teams of care providers that will comprise the teams that will be responsible for the redesign of the care delivery model. In context of the proposed reduction of staff, it can be assumed that the employees affected by the ensuing change will be instrumental in facilitating this change if allowed to be part of the redesign of priorities and duties. Consequently, with each group bringing their individual and collective spheres of knowledge, there will facilitation of the exchange of ideas, expansion of personal mastery, enhancement of mental models, and a building of a shared vision. All of which are characteristic of the described learning organization. In this case, enactment of the concept to the universal worker will require cross training of employees into potentially new areas of responsibility, or areas in which personal mastery has not been achieved. As such, training can be perceived by employees as a measure of the organizations commitment to them. Subsequently, training is one of the most powerful vehicles for an organization to create change. As stated by Resnick (2012), â€Å"First, it builds alignment to the desired change. Second, it provides individuals with the knowledge and skills to implement the change. Third, it creates the opportunity for cross-functional communication in the implementation of company-wide initiatives†. As this process evolves, management can ensure that continual educational opportunities exist for employees to grow technically and professionally in their respective duties. As these opportunities are allowed, evaluation of individual mastery should be evaluated and opportunities for individual employees to become mentors or resources for fellow employees should be encouraged. By facilitation of this process of collaborative self-management, satisfaction within the process will be enhanced and peer-to-peer sharing can take place. This will allow greater cohesiveness among the teams and a greater sense of inclusion among all team members. As stated by Smith (2001), â€Å"when teams learn together, not only can there be good results for the organization, members will grow more rapidly than could have occurred otherwise†. Measurement of Individual Satisfaction Measurement of individual employee satisfaction can be facilitated through many means. Standard traditional measurement tools could include employee surveys, employee feedback solicitation, and input gained during annual performance reviews. Although these means may allow the management team to gain greater insight to employee satisfaction with change, they are primarily founded in anecdotal response, and may be difficult of quantify. Thus, alternative measurements of satisfaction can be employed. These include monitoring of employee retention rates, review of utilization unscheduled employee leave, and patient provided satisfaction surveys. As indicated by Plowman (2009), â€Å"many studies suggest that the cost of turnover is on-and-a-half times an employee’s salary, when considering recruitment, selection, and training costs. Therefore, to monetarily measure the impacts of reduced turnover, one can calculate the expected cost of replacing employees who chose not to leave as a result of increased employee satisfaction†. Furthermore, enhanced patient satisfaction and outcomes may have a direct correlation to enhanced satisfaction in that increased individual productivity may be a sign of an employee who has taken ownership of his or her role in relation to change. Conclusion In today’s environment of organizational change, and redefining of traditional job functions and roles, it is imperative to create new paradigms within the organizational structure. Along with the changing responsibilities for employees, management must provide the means to promote atmospheres of renewed learning and assist the empowerment of employees in actualizing the larger systemic needs of the organization, and their role in the facilitation of making lasting change. Successful implementation of these concepts, along with meeting the needs for maintaining employee fulfillment and satisfaction will be essential for the economic longevity of all business organizations that provide essential services to the public. Change and Culture Essay When two companies merge, upper management has many decisions to make about the organization, from what the mission statement will be, to what type of goals they have in mind to how many employees will be necessary to accomplish the goals. In the beginning, it is important to blend the two cultures and create the new organization. Six months after the merger of Cypress Creek Hospital and Clovis Community hospital, it was important to determine if the goals are met or if changes need to be made. In the instance of the organization from the first case study, it was decided that further change had to be made. To make the desired changes, administration has decided to reduce the current workforce significantly and to change how patients are tended to. Because the change is so detailed, the administration has recommended that a new position of a universal worker be created. The term â€Å"universal worker† generally refers to a person who is trained in multiple positions in the workplace and therefore has a little more assignments flexibility. Universal workers are often used in call centers and hospitals to alleviate staff shortages and provide better service without the difficulties of processing so many referrals or dealing with call transfers (webAnswers. com2013). It is imperative that in the role of universal worker, ways are found to redesign the current set up of the organization and make the necessary changes within the organization to meet the needs of the administration. Historically, organizations were set up where each person had a set task. When an organization incorporates universal workers in the workplace, it creates an environment in which few do a variety of tasks. In health care, this means that patients deal with fewer faces, and get used to their caregivers. For the organization, it means that a staff that can perform different roles and are even more valuable than they would be in traditional roles. Process of Redesigning Because the organization has decided that patients care delivery needs to be redesigned, it must be determined how to begin that process. The first thing that must be taken into account is that change in an organization often disrupts operation. In the instance were significant changes will be made in the size of the staff, adding more change typically will not be received well in the beginning. It is very important to plan accordingly so that productivity is not affected for a long time. One way to accomplish this is to make changes with staff involvement. If staff is allowed to give ideas and be part of the changes, it will fill their needs for learning, change, and variety. One way to do this is create different committees so that staff could be part of an even smaller team and be able to express their ideas and contribute to the change. Encouraging staff participation in planning how change is to take place, and the timing of that change appeals to the need for control that people innately have. â€Å"Organizations that regularly assess the person-job fit of their employees may in turn, experience important benefits from these healthy, thriving and motivated employees who individually redesign their own jobs if necessary† (Tims, 2010). Redesigning in this way, by allowing staff to assist in it, allows the organization to go from being a series of smaller fragmented parts to being a group of fewer parts that function well together. In creating universal workers, the new management needs to go among the staff and see what each employee excels in and in what areas need further training if necessary. Management needs to get an idea of what the pulse is within the organization, have an idea of who is good at what, what jobs are not as necessary, what can be consolidated, what new positions need to be added and feel confident in his or her decisions so that the job redesign can be put into place. Work Processes and Performance Expectations When redesigning is done, the organization can expect to have their employees more satisfied in their work. People are more satisfied internally with their new responsibilities and are more satisfied in general. However, it sometimes makes people more dissatisfied with their current pay and benefits because they believe that they are doing more and that their pay and benefits should reflect those changes. Also the negative is that because people are given so much say in what they are doing when redesigning the workplace, they often become dissatisfied with their direct supervisors and management if something is not done to continue the autonomy that employees achieved with assisting in the redesigning. Job productivity goes up and goods produced tend to be better quality the pride that staff has in what they do. To ensure a more satisfied staff after redesign is complete, it is important not only to change the jobs of subordinates but even those in middle management so that everyone feels more satisfied and angry feelings do not develop among staff. If change happen were people are more satisfied, the organization will better for it. Further, change cannot happen and just come to a halt. Change is never constant; it has to continue to keep a learning organization on track. Steps and Structure to Change a Learning Organization Peter Senge, (1990), a learning organization is organization â€Å"where people continually expand their capacity to create the results they truly desire, where new and expensive patterns of thinking are nurtured, where collective aspirations is set free, and where people are continually learning to see the whole together† (Senge,P. , 1990). According to Senge (1990), a learning organization excels in five different disciplines. A learning organization looks at long-term solutions, not necessarily the first solution that comes to their head. This is important because often organizations think of short-term benefits, and do not consider what changes will do to the organization long term. Because of this, a universal worker would do best to keep from making hasty decisions, and rather would create groups where people gather and look at things more on a long-term direction and see how the organization could be affected. Another thing that can assist in change would be encourage workers to continue learning, whether it be a seminar held for staff or encouraging people to continue with their education on their own time. In workplace today teamwork is encouraged in the workplace. People are no longer given tasks, and expected to do them on their own. Rather, working together, sharing ideas and being a team help an organization to grow. Another step that needs to occur is that leadership roles need to be looked at differently. Instead of leaders being seen in the traditional role of being â€Å"better than† their subordinates or thinking for the staff, upper management roles need to changed to suit the changes in staff. Management needs to encourage learning, share the vision that leaders of the organization have. Management also needs to â€Å"create and manage creative tension especially around the gap between vision and reality. Mastery or such tension allows for a fundamental shift. It enables the leader to see the truth in changing situations† (Smith, 2001). To create change, the entire organization needs to change, not just the subordinates. Change takes time but the benefits long-term are well worth the efforts. Satisfaction for Universal Worker The universal worker approach seems to enhance job satisfaction. Feedback from the staff indicates that they enjoy being responsible for the patients as whole rather than one aspect of care. It is a feeling that undoubtedly enhances the caregiver’s sense of job importance (Widdes, 1996). Training staff to assume responsibilities across departments and even more challenging, reshaping their attitudes and approach to care is an undertaking that requires a commitment to training, retaining and diligent follow up. To keep a universal worker happy would require giving such staff opportunities to continue growing. In healthcare, allowing staff to be responsible for different aspects of patient care, rather than doing just one simple, respective role brings satisfaction. People get bored doing the same thing day in day out. Allowing staff to do different things, creates an excitement for the job that they are doing and creates a feeling of responsibility, and pride in their job. However, because a universal worker does so many different tasks, the staff should be given incentives be it through raise or benefits or other methods, it is imperative that management be very much in tune with this philosophy. Otherwise, staff will begin to feel overworked, and underappreciated. Conclusion In conclusion, merging of two organizations into one organization can be a very difficult undertaking. If not done correctly, it can fail completely. Even if a merger is successful, it does not mean that changes will not have to be made to operations to bring further success down the line. Sometimes, staff needs to be cut, and new positions be created. This can create some turmoil within the organization if not handled right. It is important to communicate with everyone throughout, and allow staff to assist in building ideas, and making the changes, allowing them to share in some of the responsibilities that the organization will undertake. Creating autonomy, particularly when creating universal workers, is important to keep staff satisfied. Along with bonus, raise, benefits, or other incentives would be wise. If staff is satisfied, the organization runs smoother and is more profitable. Satisfaction from employees radiates onto the customers and creates the type of environment that one would prefer to do business with. Change can work correctly if the needs of staff throughout the change are kept in mind.

Clinical Diagnosis and Treatment Worksheet Essay

A clinincal assessment is way for a professional to diagnose a patient. This involves evaluating the patient by asking questions and having the patient answer them. This is used to determine why and how a person is behaving the way that they are. This can also be used to see how a patient has made progress after treatment. For example: What brings you in today? What are your symptoms? Are you married? What is your family history? Have you ever thought about hurting your self or any one else. This can also include clinical interventions, clinical tests, and clinical observations. Diagnosis A diagnosis the the determination of a perso’s psychological issues that include a disorder. This can include several different steps and options. Some may include: Categorical information Demensional Information And Additional information such as medical history such as heart issues or diabetes. Treatment Laslty, the therapist will decide upon a treatment. Thwy will decide what particular therapy is best for the patients issues. Thi is when the DSM-5 can come in. They will decide on what will work best for the patients. The professional may decide on a combination of drug therapy and psychotherapy. This type of treatment has been known to treat issues such as depression. Answer the following questions in 150-200 words each. 1. What role does the DSM-5 play in clinical assessment, diagnosis, and treatment? The DSM-5 is a handbook that is used by health care professionals. This is an imposing guide to the diagnoses to mental disorders.This contains the descriptions, symptoms, and other criteria for identifying mental disorders. This helps to provide a common language for clinicans to communicate about patients and come up with a diagnoses that can be used to research the disorder. 2. What is an example of abnormal psychology that you have seen in your community? I believe that the most popular abnormal psychology that I have seen in my community is dysfunction. I believe that this is something that is present in all communities at this point in time. Take for example the recent riots surrounding the Ferguson shooting. This is an example of dysfuntion. The people did not protest the verdict they rioted and looted.

Chemistry In Daily Life Essay

INFORMATIVE SPEECH TOPICS The main questions for picking out good informative speech topics are: What are their wishes, tastes, interests and needs? What is their level of education and knowledge about the topic? Is their a common ground between you and your audience? Can you surprise them with new information? Can you excite their interest by expanding on what your listeners already know? Are you having trouble coming up with speech topics? This list of informative speech topics is only meant to stimulate your thinking. Of course many of these subjects are too broad and ought to be narrowed. Advertising, Africa, Agriculture, Animals, Antarctica, Anthropology, Antique, Applied Sciences, Archaeology, Architecture, Aromatherapy, Artificial Intelligence, Arts, Asia, Astrology, Astronomy, Australia, Aviation, Backpacking, Beauty, Biographies, Biology, Bird Flu, Books, Cheerleading, Chemistry, Children, Cities, Climate, Communication, Cooking, Countries, Business, Cars, Celebrities, Culture, Dancing, Demographics, Design, Drinks, Ecology, Economics, Education, Engineering, Entertainment, Ethnic Groups, Etiquette, Europe, Family, Fashion, Finance, Food, Games, Geography, Government Hiking, History, Home, Industries, International Organizations, International Relations, Labor, Languages, Law, Lifestyles, Literature, Manufacturing, Maps, Martial Arts, Mass Media, Medicine, Military, Movements, Movies, Museums, Music, Mysteries, Mythology, Myths, National Parks, Nature, News, North America, Oceania, People, Performing Arts, Personal Life, Pets, Philosophy, Physics, Politics, Popul ar Culture, Psychology, Radio, Reference, Religions, Science, Society, Sociology, South America, Space, Sports, Sports Events, Technology, Telecommunications, Television, Tourism, Toys or Travel! Decision Time! Review your short list of ideas for good informative speech topics. The main questions are: Is it not too simple or too complicated? Is it too broad or too narrow? Can you cover the speech topics in the given time-limit? Persuasive Speech/Debate Topics

Marketing Plan Term Paper Example | Topics and Well Written Essays - 1250 words

Marketing Plan - Term Paper Example The organization has selected Stockholm as their business operation area. Stockholm is one of the leading historical area enrich with numerous business hubs and colleges. The city is famous for its emerging wine and food market. Most significantly several popular restaurants and wine bar are operating within this competitive and potential market place. Seeing these favorable factors, the organization is trying to establish their business in Stockholm. Moreover, several favorable aspects like high disposable income of people, favorable social tradition, economic development, political stability, availability of advanced technology and resources have encouraged the organization to enter in the business field. The organization is trying to achieve competitive advantages through effective product differentiation strategy and sustainable business operation. The aim of the study is to reveal the potential business opportunities for the particular business venture. The marketing plan includ es situation analysis, business objectives and goals, target market analysis, a marketing mix frame work. The strategic plans have implemented in this study to achieve the business objectives. Finally, the study will locate implementation and control of the stated objectives. Situation Analysis An internal situation analysis has been provided in this study. SWOT Analysis This strategic analytical tool will determine Finch Wine Bar’s internal strengths, weaknesses and external opportunities, threats. A summarized table of SWOT analysis has been provided in the appendix part. Strengths The business operation place is the most crowded place in the country. Skilled management team and differentiated product range will help the organization to create a potential customer base. Availability of several international and domestic wines will increase the core competency of the wine bar. Effective customer service and closed-line product and service technology will bring efficiency in the business process. Significant waste management system and water recycle facility are the most significant strengths of this organization. It will help to increase the brand reputation of the organization. Weaknesses Lack of brand awareness in the mind of the customers is one of the greatest weaknesses of the organization. Lack of sufficient resources at initial stage of business operation will limit the organization to achieve significant business output. Lack of effective relationship with distributors and suppliers can affect the supply chain management process of the organization. Opportunities The Swedish market is potential for wine bar business. Recently Sweden has joined WTO that will increase the business activities. Festive seasons and favorable location will help the organization to more number of customers. High disposable income of people and technological development of the nation will encourage the organization to undertake aggressive business strategy. Threats The Swedish wine bar market is highly competitive due to presence of several potential Organizations. Several political threats including licensing problem can affect the business Process of Finch wine bar in near future. Recent economic recession and European financial crisis has affected restricted the buying decision of middle class people. Now-a-days, the tendency of Swedish people is changing towards the healthy drinks and green tea consumption. Focus and Goal Settings Business

Real estate law Term Paper Example | Topics and Well Written Essays - 2000 words

Real estate law - Term Paper Example In understanding the nature of commercial, as well as private real estate, it would first be imperative to understand what would constitute as a definition for the central factor in this case. As the real estate market would continue to see an onslaught of cases, involving the concerns of average consumers as to their ability to hold onto their properties at whatever cost, it would cause for a further examination of the laws presently in place for real estate at a level concerning homeownership and the steps that homeowners must take to save their homes and what they may face, both in their favor and what also may be against them as they seek to keep their dwellings. According to the dictionary accessed through law.com, the definition for real estate would be as follows, â€Å"land, improvements and buildings thereon, including attached items and growing things. It is virtually the same as "real property," except real property includes interests which are not physical such as a right to acquire the property in the future,† (â€Å"real estate†, p. 1). In observing the nature of real estate, such as how it would be connected, if anything, to the notion of real property, it would be assessed that, in terms of real estate, it would be all encompassing of various things that, with their given purposes, would require written laws to be available that would act as the governing body. In terms of its definition, commercial real estate law is defined as being a law that, â€Å"...governs real property -- immovable property like land, buildings and fixtures -- that is operated for profit. Commercial real estate includes any income generating property such as offices, shopping malls, restaurants, industrial parks, retail stores, and factories. Commercial real estate transactions are regulated by both federal and state laws. Although commercial real estate investment can be very profitable, there is always

Management(various non-typical intangible assets which can help a Essay

Management(various non-typical intangible assets which can help a manager) - Essay Example It can be noticed that intangible assets of an organization are not things which can be acquired or bought but are rather developed. These are a set of instructions, knowledge etc which along with the tangible assets of the organization, help in running the organization and completing day to day activities. Intangible assets bring a new configuration of the things making it more valuable and accessible. Apart from all the above mentioned intangible resources this paper will discuss managerial intangible resources which a manager draws upon to fulfil his role. This paper discusses and evaluated how intangible resources can be used to legitimise management authority in organizations. In order to do so, the paper describes what intangible assets are and what management is. Later, it discusses what is meant by management and what the connection between management authority and intangible assets is. Management is an art. It is an art of planning, organizing, directing and monitoring. It is an art of managing people. It is also science. Science is how you mange to do all this. It can also be said as an act of directing, controlling, coordinating and harmonizing people towards the accomplishment of a goal. It also comprises of deployment and proper use of human resources, technological resources and financial resources. Those people or groups of people who manage these things are the management. In the late seventies an... Science is how you mange to do all this. It can also be said as an act of directing, controlling, coordinating and harmonizing people towards the accomplishment of a goal. It also comprises of deployment and proper use of human resources, technological resources and financial resources. Those people or groups of people who manage these things are the management. In the late seventies and eighties management was considered as an engineering. Any company was considered as a machine, the managers were the operators and the workers, merely pawns. Today management has a whole new concept (McCrimmon: 2007, n.p). The efficiency in the workers reflects the efficiency of the manager. If the manager is incompetent then the efficiency of the workers does not change, rather in some cases it goes down. Managers take responsibility of what they do. They are creative and analyzing. Managers discover what is unique about a person and then use his unique quality to achieve their goals. The job of a manager is to achieve performance using a person's talent (Buckingham, n.p. 2005). However, in order for the manager to do his job, it is very important for him to have some authority over his employees. This authority is not only given to him by the higher management when he is hired, he also makes use of intangible assets and resources to legitimise this authori ty such as skills and knowledge. A manager has a bird's eye view of the entire system and the entire organization. He is the one who makes use of this knowledge and expertise to not only take strategic decisions, but also prove that he is capable for this position (Buckingham, n.p. 2005). An important part of intangible assets which a manger makes use of is leadership qualities which help him legitimise authority in

Strategic Management CEO Essay Example | Topics and Well Written Essays - 500 words

Strategic Management CEO - Essay Example It appears that the management believes in making strategic moves to be in the best position for long-term benefits. According to the article reviewed, Google's vision has been sketched out. This may be asserted because of some of the elements that the CEO of Google, Mr. Schmidt, highlighted. To go back to Mr. Schmidt's beginning with Google, he first of all said that there "wasn't much of an infrastructure". With only three basic individuals in the decision-making process, Mr. Schmidt asserts, "two people have to agree". After this, the third one has to be convinced or the third one may try and work his thoughts against the two that agree. Aside from decision-making that decides a number of things, Google's vision is to be prepared. This is why they consider the future and also consider reasons for an IPO, such as "either liquidity, venture returns, the ability to do acquisitions". However, Mr. Schmidt says that Google does not have any such "pressure", and so, they think about what they can do to finance newer projects of Google with lower risk. According to Mr. Schmidt, Google had one objective from day one, which was to "build a culture". Indeed, Google has achieved this over its period of existence. However, the job is not done yet, as there is a more that this company can do.

Consumer Participation in Mental Healthcare in Australia Research Paper

Consumer Participation in Mental Healthcare in Australia - Research Paper Example The optimistic logic of mental health is that it leaves a special variety of stress on human emotions while mental illness conducts negative stress on human thoughts and actions. However, mental illness is not subjected to any physical illness or disease but considered, as a psychological disorder in humans ((Editor),H. Tristram Engelhardt Jr (Editor),S.F.Spicker ). During 1970’s, it was widespread that mental illness and mental health were the two different shaft of a continuum. Since, there are varying degrees of health and sickness that indicates a person’s behavior, a thin line is present between mental health and mental illness. However, one may become sick from being healthy subjective to enough stress and anxiety in social environment. Likewise, in 1980’s, this theory was rejected by (Michel’s and Marzuk1993; Wilson1993) stating that a person can either be sick or healthy (, Department of Health). According to this statement, mental illness in a per son is demonstrated by its abnormal behavior. For example, schizophrenia, anxiety, depression, anger, aggression and substance abuse etc. In addition, the sources of mental illness are biochemical, biological, neurological or genetics. Mental health delineates self-esteem, self-actualization and realization, ability to fulfill desires, and significant relationships. Consequently, mental health is far more different from mental illness (, Department of Health).   Subsequently, Australia and New Zealand have been working significantly in providing mental health care facilities to the consumers, as a result, the country’s national policies, effective strategies and legislation have been prepared.  

Assignment3 Essay Example | Topics and Well Written Essays - 750 words

Assignment3 - Essay Example Sometimes, the concoction, instead of taking the condemned to a state of unconsciousness, merely paralyses them, with the person dying feeling the excruciating pain of their heart stopping, but unable to speak out because of their paralysis. If this is not torture, what is? We as a nation are firmly against torture, therefore, it is surprising that we are silent about the torture of our own people. The state-sponsored murder, as some people refer to capital punishment, leaves the door open for punishing the mentally disabled for their crimes. The recent case of Theresa Lewis’ execution in Virginia is testament to that. Not only was the woman borderline retarded, with an IQ of about 71, what is more, she was not even the one who carried out the killing. However, as the option of capital punishment was available, she was put to death. This is not in line with the ethics that we hold dear, and we should speak out against it. This is just talking about those who are, indeed, guilt y. What about the case of people who are convicted wrongfully? Our criminal justice system is not perfect. There are many flaws and often emotions involved in the case end up causing a bias. The police, if under pressure, have been known to look for scapegoats to protect their reputation. Consequently, someone innocent may not only be charged, but convicted of the crime as well. There have been many cases where evidence emerging later on proved that the conviction was wrongful. It is one thing to take someone’s freedom wrongfully, and quite another to take his or her life. The former is a travesty of justice too, however, a man wrongfully sent to prison can be set free. Can those mistakenly executed by the State have their lives back? Moreover, the lengthy appeal process that goes hand in hand with a sentence of death incurs a lot of expense on the exchequer. Millions of tax dollars, that you and I pay, are spent in the appealing and re-appealing process. A sentence of life i mprisonment can save the public exchequer money, as it does not involve such a lengthy appeal procedure. Though those who favor death penalty talk about a deterrent effect of the capital punishment, yet research shows that such a view is oversimplified. There is no way that only one factor effects the rate of crime in any community. There are various social and economic factors that go along with a society’s rate of murder, and the death penalty is not one of them. What is more, countries where the death penalty has been abolished have lower crime rates than those States of our country where it is still practiced. Ask any of those supporters if they are willing to condemn a person to death by serving on a death-penalty jury, and I am sure you will see reluctance as well as unwillingness. Ours is the only Western nation, and other than Japan, the only developed country to allow and implement such a barbaric punishment. The European Union law has completely abolished the death penalty, and it is a shame that though as a nation uphold ideals based on human ideals and human rights, allow a cruel and unusual way to punish our own. That we allow this barbarity to be done on a State level is a slight to our civilization. All of us should unite in speaking out against this torturous punishment. We should write to our Congressman or

The Homestead Act Essay Example for Free

The Homestead Act Essay To my understanding, and from what I have read in the book and throughout the course links, I believe that the intent of the Homestead Act was to defeat land monopoly. Many farmers, however, lacked the economic means to move west and manage a farm. . By this, fewer still understood the new type of agriculture, in which technology was used to farm the land that the Great Plains required. Instead, speculators and corporate interests were able to reap in profits, and fraud and corruption, and often marked the process farmland for transportation (the railroads). The Homestead Acts biggest weakness however, was not taking into account conditions on the frontier. I also think that the eastern framers did not consider that some of their land was too large for irrigated farming and too small for dry farming. The role of the private capital in the American West was towards the rich. The poor individuals did not have any control of most of the land even if they were the first occupants. The rich people were also in control of the railroad system, in which the well to do folks had the only say so. Farmers finally received a break, with the railroads. Under the Pacific Railroad Act, land grants made possible the speedy construction of the Union Pacific, Central Pacific, Northern Pacific, Santa Fe, and Southern Pacific railroads. They were Lead by railroad promoters to believe in a bountiful West harvest, in which mass amounts of European immigrants were caught up in the movement West. I think that the railroads provided exactly what the Homestead Acts did not: credit terms, good quality advertisement, larger land tracts, special passenger rates, and farming support for future Western settlers. There were a lot of motivated businessmen of the Great Northern Railway, who planned and directed the settlement of thousands of settlers along different lines. One thing that I believed that helped the settlers was the fact that lands sold by the railroads also hastened settlement because they provided the cheapest and most convenient way of getting farmers produce to the markets. By this, I believe that the United States government played a major role in developing the railroad system and then came in to assist the public when the private companies were mistreating the general public for a profit. According to the Links in unit 10, and according to what I have read in the  book, it seems as if the railroad system was a project that was difficult to accomplish. From the beginning, and as seen within the union pacific site, the workers that worked on the railroads were not well treated at all. Many of them were treated like animals with no self-worthiness. These workers were hardly paid money and the small amount of money they received was not enough for them to take care of their families. From time to time, some workers organized rallies and strikes to make sure that their voices were heard. The transformative power of the railroads in the American West, in my view, can relate to the tern talismanic wands. At that time, the settlers did not have any mode of transportation other than their animals, and the railroad system seemed to be the magical instrument. I think the railroad did work miracles for the people at that time because it gave them a chance to travel and market their goods elsewhere.

David Jones Management Case Study

David Jones Management Case Study Report writing on the case of David Jones management Prepared by Nisarg Patel David Jones is one of largest departmental store in Australia. It was established in 1838. Since 176 years the Australian retail market has undergone drastic changes. According to my suggestion the best model of planned change that suits David Jones case study is the positive model of planned change. The positive model, as it appears from its name is based on the positive mentality. It pays emphasis on that things will better in the future and that present going things are not bad. Thus to lead the company using this model there is no need of faults in the present conditions. The use of positive model can be done at any point of time with expectation of making conditions better in future and perfection can always be achieved. This model focuses on the betterment of things that working properly then on things that are not working. In order to initiate the enquiry occurrence of problem is not required. The initiation of enquiry can be done any time for better future of the company. Dav id Jones departmental stores should indentify its strengths. They should magnify their strength and prepare itself for an ideal future. They should achieve their future expectations by designing different ways to accomplish their target. In order to meet the required future expectation, implementation of their plan is carried out properly. It is easy to focus on strength and improve it than trying to decrease errors or weakness because people of the organization are highly motivated to deliver superior products or results due to its positive vibe. The positive model of planned change is based on concept of appreciative enquiry and expectation theory. It involves primary development of their strength to the highest level. To increase the efficiency of positive model of planned change in case of David Jones, they should make use of wide range of diagnostic tools to deal with the current scenario along with improving their strength to maximum (Ashton 2010). David Jones brought many changes in itself to achieve their desired future of being one of the largest store chains across Australia. The implementation of new strategy is not easy because there is always resistance to change. The change is always accompanied with low output, frequent quarrels, slowdown of overall process. In order to overcome the resistance to change, organization should follow certain solutions. The management should always encourage staff to come up with new ideas and should listen to their feedback on it. The solution of problem lies in its root cause. The management should focus on finding out what are the actual problem and its source. In many cases the problem is the social change of employees and their relationships. (Lawrence 1969) The management sometimes only pays emphasis the technical aspects of the change and neglects the social change. The social change being the root leads to magnification of the technical issue. Thus the amount of effects required to overcome the resistance of change increase. The best solution for overcoming social change is use of emotional intelligence. The basic definition of emotional intelligence can be the skill to monitor others and your own emotions and feelings, to differentiate between them and use all this information to guide action and thoughts. The change in an organization is very emotionally demanding. Thus use of emotional intelligence is necessary. The emotional intelligence is acquired by age and years of experience. The use of emotional intelligence during decision making is helpful to successfully execute the change and the emotions can be regulated. Whenever there is a change, the management should have knowledge about the employee’s behavior, feelings, tho ughts, etc (YBARRA and KROSS 2014) I agree with the decisions made by the management and the changes they brought in the organization were needed urgently. The introduction of the bridal boutique at the seventh floor of building of David Jones departmental store located in central business district of Sydney. That is an example of innovation. The David Jones store is delivering a totally new perspective of bridal wear. They are the pioneers of this new trend in the retail market. This strategic move will boost their sales and help them to build their image in market. Innovation is necessary for company to survive in the modern retail market at global level. The overall changes made at David Jones are perfect and I totally agree with it. My suggestion in this case is that they should open theme bridal boutique at other major cities like Melbourne, Brisbane, etc. The other thing I would like to suggest is that david jones should set two different cloth line for different segment of people. The one such be economical and the other one should be exclusive superior range. They should take inspiration from Toyota. Toyota has owns two brands of itself, one is Lexus and other is Toyota. ( adam 2010) This concept might boost the sales and market position of david jones in Australia. The celebrity events that david jones organize are great. These events are successful in attracting customers. These events project david jones at a gobal level. The store keeps on updating according to customer needs. David jones introduced many international brands to Australian grounds. The management’s decision in the past to take it online has now bloomed. The company is having 190% growth in 3Q14. This result proves the effectiveness of decision. The customers should be always satisfied with the company. (ASX AND MEDIA RELEASE 2011) The company has a corporate transformation and that will bring a change corporation wide across the whole company. The company needs to boost its corporate revenue in order to survive in the modern retail market. The company should focus building a stronger corporate reputation in the Australian retail market. Overall the company should maintain their position as the leading fashion retail store across whole Australia. Thus the company needs to bring a change corporation wide rather than focusing on change in a particular department. The company should implement new management technique that ensures the optimum use of the area of strength of the company. The top level executives should make sure that the corporate principals are followed by the staff. The decision making should be effective and done by futuristic ideas. The management should think for long-term investment. It will help them to build a better future for the company. The management should cover the all perspective of p resent and future business. The management should understand the importance of the strength of the company. The better future can only be achieved by continuous innovation. The company has to incorporate higher values of work. They should continuously bring new concept and replace the older ineffective concepts. The company brings a customer-driven innovation and achieves maximum excellence. There should be overall development in the emerging markets. The company has to keep on analyzing the current market and continuously focus on improvement. The goal of the management should be increasing the strength business foundation. The change made should provide a drastic progress in the market. The financial growth is essential for the company. The stakeholder of company should be satisfied by the progress of the company and increase corporate value of the company. By doing this the company will be able to gain trust of the stakeholder and will have a better market value. (Harner 2011) The success of the corporate transformation depends on the long term solution it provides. The corporate transformation is based on the understanding of the processes and the principles. The transformation should not be made just quick fix the problems. There should be no use negative solutions such laying off employees, selling off under pressure, etc. This thing creates a false impression of the company in the market and adversely affects the market price and value. The corporate transformation is all about thinking, planning and acting in new ways. The effective transformation us the one which gives ability to grow and sustain the company under market crisis. The change has to be deep rooted not just the superficial. The transformation is only successful when it is based on perspective of the total company. The top level management should a vision of better future and should focus on implementation of the changes throughout the company. The corporate transformation is a coordinate d process. It may involve short term loses. The new formed business strategy should boost the sales. The top level management should analyze problems; evaluate strengths, weakness and resources available to the company. (Krishnan 2008) According to my view coercive style of management is used by Paul Zahra, the CEO of David Jones. The use of incremental and collaborative method of change causes conflicting views and ideology in many cases. Thus leads to chaos and is often time consuming. The use of dictatorial transformation and forced evolution is a better option. In case of David Jones there was scope of time so forced evolution was used. If the change in made within the time limit than more successful. Paul Zahra took decision on the perfect time to take the store online. The results today show 190% growth in their online segment. The other changes made were for betterment of the company. The company has progressed a lot over the time period. REFERENCE LIST Aston, 2010, viewed on 16 august 2014, http://ashtonfourie.com/blog1/2010/04/29/comparison-of-three-major-change-models/ Paul R. Lawrence, 1969, viewed on 16 august 2014, http://hbr.org/1969/01/how-to-deal-with-resistance-to-change OSCAR YBARRA, ETHAN KROSS, JEFFREY SANCHEZ-BURKS, the Academy of Management Perspectives 2014, Vol. 28, No. 2, 93–107, THE â€Å"BIG IDEA† THAT IS YET TO BE: TOWARD A MORE MOTIVATED, CONTEXTUAL, AND DYNAMIC MODEL OF EMOTIONAL INTELLIGENCE, viewed on 16 august 2014, http://dx.doi.org/10.5465/amp.2012.0106 ADAM FISHER, 2010, Toyota and Lexus: a tale of twin brand, viewed on 17 august 2014, http://www.cbsnews.com/news/toyota-and-lexus-a-tale-of-twin-brands/ ASX AND MEDIA RELEASE, 2011,viewed on 17 august 2014, http://www.davidjones.com.au/~/media/David-Jones/Corporate/ASX-and-Media/2011/Jan_11_JAN.ashx Stephen harner, 2011, Key to Corporate Transformation: Ten Decisions Actions, viewed on 18 august 2014, http://www.forbes.com/sites/stephenharner/2011/05/16/key-to-corporate-transformation-ten-decisions-an-actions/ Priti Krishnan, 2008, Corporate Transformation, Icfai Books, viewed on 18 august 2014, http://www.ibscdc.org/businesscasebooks-pdfs/Corporate%20Transformation.pdf

Risk Management in Healthcare | Case Study

Risk Management in Healthcare | Case Study MIA JESSELENE SUGUITAN Risk Management Process Regency rest home and hospital provides assistive works for the day to day living most especially for the people who cannot manage to support their everyday routine. In identifying and characterizing the risk, this is assessing possible risk invaders in the organization and distinguishing possible reasons occurring in a workplace. Vulnerability affects the residents and employee work and its environment, it also tackles about currents assets involving establishments, equipment, appliances and financial status. It is also better to determine the effect or the impact of the said risk in the presence of the likelihood. In reducing possible risk, it is a best benefit in the part of employees and for the resident for the better provision in the future. Thus, this depends on the process of what the rest home and hospital measures every performance and its management styles. Examples of management process; Risk assessment process at Regency Rest Home and Hospital which includes (a)identifying and characterizing risk in the organization, (b)assessing vulnerability and assets to specific threats as scaled from 0%-100%,(c) determining the risk and the consequences in the likelihood,(d)different ways to reduce risk in the rest home and hospital,(e)prioritizing risk based on strategy. Residential risk a.1 Risk of fall and slips from the residents during the given shift. Scattered wires and adaptors inside the establishments. Side rails improperly laid up. Poor housekeeping on the equipment’s and appliances. b. The health and safety of the employee and the residents would affect the day to day activities. This might likely arise about 20% within people vulnerability assets. c. In the impact of likelihood this would affect the resident day to day activity and cannot able to help his/herself personal recreational stuffs. d. To reduce risk there should be; Be proper housekeeping of appliances and equipment’s after used. After any activity done for a patient always remember when putting back on her bed most especially for aggressive residents, always put side rails up. And if rails are not available always put pillows on each side of the bed. Put up signage to prevent injuries. e. Avoidance the risk of possible falls or slips and do something to avoid any accidents that would affect not only on the health and safety of the residents but also on the part of each employee. a.2 Risk of improper handling and assisting care to the residents most particularly on their personal hygiene. Taking bath on residents that involves in washing their private parts. Tidying their wardrobe and room every after washed. b.10% would possibly affect the residents personal rights on to her/his own needs in caring their body. Since some of the residents can still manage to clean their selves, we still need to supervise their activity and asked if they need assistance. Another is other residents cannot able to look up their personal regimens so, a full assistance is needed for them. This would also affect the reputation of the rest home and hospital if someone would report any malicious act as every activity is ongoing, example is when bathing and washing their private parts. c. The impact of likelihood would be, since some of the residents experienced dementia (loss of ability to think properly especially on his/her daily routines) in rendering health care services unexplained procedures in residents, may feel unprotected and abuse in the site of their caregivers/health care assistance. And for other residents reputation from the care givers would probably ungreatful. d. To reduce risk; Inform consent and explain any activity to be done. Respect resident privacy in carry out cares. Encourage resident to improve level of independence like in their personal hygiene and activities. Correct use of mobility aids or with the assistance from the fellow employee member. e. Limit the risk in this situation because this is considered as a part of the daily activity wherein residents should always be seen nice and tidy every day. Making sure that every residents are respected and informed any procedures to be than on the course of any activity to prevent any faults. Employee/staff member risk a.3 Risk in Improper delegation of tasked on the course of assigned shift. Miss communication between staff and staff members in designating proper tasked. In coherent data assessment that would effect on the future needs of a residents. b. 20% would affect staff members and not doing healthy in the career would be liable by negligence in the part or rendering care to residents. c. The impact of risk in likelihood would be a negative and unhelpful outlook to each employee and colleagues. Also it affects the reputation of the institution itself to the other residents who wanted to be a part of the associate. d. To  ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­Ã‚ ­reduce risk; Willingness to complete the tasked in time, given to each employee positive and helpful outlook toward every residents and colleagues Active discussion and problem solving for the members of the staff. Completes distributed tasked. Show consideration to the other colleagues and to the residents Ensures planned works can meet the needs of every resident Participate scheduled staff meetings and discussions. e. Limit the possible result of miscommunication, if possible mingle and have knowledge on things with the members of staff and adjust with the team member and staff to minimize extent of risk. Disaster risk a.4 Risk in Fire inside the establishment especially on the assigned wing. Facilities, equipment and appliances are damage. Residents and employees of the establishment would experience injuries during any fire outbreak. b. About 5% to be roughly to happen. Critical assets like the building, the equipment’s, appliances and scarcity of money would affect the health and safety of every resident and employee as well. c. The impact of likelihood is fire would occur establishments would fall down into business, financial would affect the employee’s job and the lost properties. d. To reduce risk; Have knowledge and understanding on the emergency situation especially on fire Reports any hazard and damages in the equipment used while on shift. Attendance to one fire exits Have knowledge in fire manual Have knowledge and responsibilities in fire alarm sound. Have knowledge in hazard reporting Have knowledge on how and where to report damage e. Transfer in the risk, this would help residents from having any grievances and on the part of the employee’s health and safety of residents, their selves, is their first priority. There are ways in securing residents lives like transferring residents into a near facilities if accident may happen. Prioritizing the Risk From highest to lowest prioritization. 1. Improper delegation of tasked during the assigned shift. 2. Risk from falls and slips during the shift. 3. Risk in handling and assisting residents on their personal routine 4. Risk from fire in the premises. Risk management frameworks and The Principles In risk management framework, it overviews goals, objectives, qualitative and quantitative parts of an organization. COSO framework has been introduced and this was used by every business and management in dealing uncertain threats and risk than may encounter in a workplace. It defines as a process, where it affects the peoples entity applied in a setting to recognize possible risk to ensure achievement of a certain objectives most especially in the industry you are working for. Entity objectives with its category; Strategic Operational Reporting Compliance In event identification, it identifies risk and opportunities in a certain workplace. It may result into a negative or positive outlook of every people. Involves identifying those cases, like internally or externally, that could affect strategy and reaching the objectives that they want.it also talks how internal and external factors combine and interact to influence the management risk. For example; Events from a disaster like fire, this is identified as a part of an event that would happen anytime or in the future and it needs a proper management caution if ever this will occur. In risk assessment, allows an entity to recognize the extent to which latent events might impact objectives. Assesses risks from viewpoints or the perception in the impact of likelihood. Is used to assess risks and used to quantify the related objectives. For example; In events like fire, risk could cause burns from equipment, appliances and establishment. Also it affects the residents and the staff member as well. Abrasions, contusions and concussions would likely experienced, and unexpected events like this must have identify measures of management. Works a combination of both qualitative and quantitative risk assessment organizations. Risk response, measures the degree and cost of impact in a likelihood. And also it evaluates the possible response of an identified risk. In control activities, this is the application of general information to control possible risk or events that would occur. In information and communication this pertains the time frame of an employee on its works on how he/she carries out responsibilities. The most effective ERM component is the monitoring wherein there is a separate evaluations for each activity that has been done in a day. Internal control and integrated framework includes objective setting as an isolated component. Objectives is a part of the qualification for internal control. It also expands the financial reporting and risk assessment. The components of a risk management in a workplace is very helpful if risk occurs. Strategies in risk assessment would quantify the proportion of cause of a certain risk. The entity and division level, for as a healthcare assistance or caregivers has a big part on the residents lives more likely in assisting and rendering care for them. Part of the risk management process within an organization. And examples of each step a. Determine the objectives at Regency Rest home and hospital. To Support residents on the activities of the day to day that will reflects on the resident’s level of dependency. To actively promote and maintain environmental safety for the residents To provide a service to all residents that is considerate and professional To work effectively as a team member for the betterment of the work. To support every residents on their social need For example, in every task that we do, we involve our patients/residencies independency, like tooth brushing, changing clothes and others. We provide support for all their care especially to those who can’t able to upkeep his/her self. The establishments has a variety of facilities wherein residents can join the fan like watching concerts in the lounge with their fellow residents. b./c.Identify exposures to loss and the Measure exposures from the organization. In determining loss, â€Å"threats† are the most consequence that results in a loss of some part of category of an organization. Example of loss; Financial about 70-80% is the scale because the organization like the rest home and hospital depends on the net income. And the equipment, insurance compensation of every employee, re-furbish of the establishment and many more. Liability 20-30%this covers the defending claim of the residents to the employee on the management activities. For example; When caregivers forgets to put up side rails during or after care on bed, most especially if the residents is aggressive this will be known as Negligence to work. Personal loss 10-15% likely to happen like personal injury, real properties and personal property. Such as fire which could affect organization and the establishment as well. Checklist and surveys can be a helpful in determining exposure to loss. d.Select alternatives on the organization Brainstorming, listening or noting of alternatives, is an outstanding discovery process. Once you have listed alternatives, be open to their opportunities. For example; When having an orientation to every staff members everyone is allowed to share comment and suggestions in relative to the topic they are discussing. And also data gathering like time of washing, if they had bowel or not and also in feeding resident, we make sure they are listed because this will help employee to make resolution if some of the activities are maintain. e.Implement a solution at Regency Rest Home and Hospital Risk management is a series of action composed or made-up of well-defined steps which when taken in order, support better decision making by contributing to a greater insight into risks and their impacts. By acquiring effective risk management there are techniques that can help improved safety and quality. As healthcare settings vary greatly in their day-to-day function, it is not possible to provide a one appropriate all approach to risk management. At this stage all the information gained brought together to consider what actions should be taken. In order to make this process, consider how the level of risk will be affected by the planed alleviation strategies. EXAMPLE: Avoiding the risk: avoiding risk to get become worst. Selecting other lower risk procedure. Reducing the risk: can be reduced through preventative measures, and perform the required task and minimize the risk. Transferring the risk: getting another individual or team to assist or perform that are better equipped or have more experience in doing the task. Retaining the risk and managing: strategies include using PPE (PERSONAL PROTECTIVE EQUIPMENT). f. Monitor and review the outcomes of risk management. Monitoring is very broad, its just not mean to check on what is happening overall. Monitoring can be useful enough for setting what is wrong and making good things to a better one. Monitoring is not just merely watching or observing because it will look like it was a passive monitoring. The best way to monitor things out in an organization is the combination of watching/observing with the aid of listening, because listening was the way of at least knowing the reaction of the people lower than the management and for those people whom you are giving your care. And employees are good basis of information. For example; In giving or assisting residents in their personal regimen, residents may comment to their caregivers how appreciated they are helping them in performing their daily routine and as per observation by their fellow employee feedbacks will turn unto you and this will give a better chances either to renew a contact or not all. Strategies for Language Translation | Dissertation Strategies for Language Translation | Dissertation Introduction The present dissertation is largely based on research in the field of translation. Translation is an influential valid feature of our society, and it symbolizes one of the most important aspects in shaping the upcoming course of the planet. . The translators tasks are complex and refer to his/her abilities of dealing with every aspect of the process of translation. The power of translator lies in his/her responsibility for his/her end product. I chose this topic because I believe translation is part of everyones life and it has profound implications in our society. The translation is defined and influenced by the type of source text, the target readers understanding, the context, the translators skills and the linguistic and cultural differences between the source language and the target language. My approach is two-fold: a theoretical perspective A. Theoretical considerations and a practical one B. Application. The first part explains what the translator tasks imply and what factors influence the translational competence, analyzes the characteristics of these skills, offering guidelines and methods of approach for a better understanding. The second part deals with the problems I encountered while translating a part of Ultima noapte de dragoste, à ®ntà ¢ia noapte de război by Camil Petrescu. In the first chapter, â€Å"Who are translators†, I shall try to define the translators profession, what important tools influence the activity of translation as well as what skills a translator should possess in order to be a competent translator. The first subchapter, â€Å"Skills of reading and writing† regards the translators tasks of decoding and encoding a text to offer the correct meaning in his/her translation. The next sub-chapters, â€Å"Subject area and Contrastive knowledge† and â€Å"Source language and Target language knowledge† describe why a translator should be specialized in various fields and the differences between the two languages regarding the language systems and cultures. In the second chapter, â€Å"Factors that influence the translational competence†, I shall begin by theorizing translational competence, which refers to all those factors that lead to perfection in translation. The first subchapter, â€Å"Psychological factors†, underlines the effect of psychology on the process of translation. â€Å"Knowledge of translation theory†, the next subchapter, describes the norms of the field of translation, which help the translator to render the overall meaning of the source text and to have the same effect on the readership. The third subchapter, â€Å"The quality of translation. Efficiency of text analysis†, analyzes what a translator should avoid in order to ensure a correct translation and to establish the necessary level of quality. â€Å"Culture† and â€Å"Experience†, the next subchapters refer to how the knowledge of the source and target culture as well as the experience in the field help the translator to make the right decisions in translation. The second part of the dissertation contains five chapters, which rely on the translation The last night of love, the first night of war. The first chapter, â€Å"The process of translation† presents the steps taken in the process of translation. â€Å"Source text and Target text analysis† deals with analyzing the extratextual and intratextual factors for each of the two languages. The last chapters â€Å"Identification of translation problems† and â€Å"Comments on translation† regard what translation problems were found during the translation process and I will discuss as well the translation difficulties and the way they were solved. The last chapter contains the translation of the first part of the novel by Camil Petrescu. Being a proficient translator may be a quality that comes by nature or by continuous practice. I strongly believe that although theory helps, it is practice that actually leads to perfection in translation. A. Theoretical considerations 1. Who are translators? Translation is one of the various means of communication existing and, from this point of view, it is very important because it establishes a connection between at least two languages, two cultures, two nations; at verbal level it helps transferring their characteristic elements from one into the other as well as understanding them. Not giving it importance equates with a total isolation from the rest of the world. A translation involves three parties, of which the third one, represented by the translator, is the most important. His responsibility is enormous because the burden of transferring the message presses over his shoulders. Knowing a foreign language and the subject is not as important as being sensitive to language and being competent to speak his own language clearly and resourcefully. For a good speaker avoids not only errors of usage but also mistakes of fact and language simply by applying his good sense. A translator has also to have flair and a so-called â€Å"sixth sense†, which is compounded of intelligence, sensibility, intuition and knowledge. S/he perhaps more than any other practitioner of a profession, is continually faced with choices and has to be very careful and extremely fast in making them. If I were to draw a line between translation and the translator and to state which ones importance is greater, I would say that a translation cannot be achieved without the appropriate person to do it, i.e. the translator. The same applies to the translator, who fades away without the core of his profession. They depend on each other and are vital for the welfare of this world. An element of great importance for a translator is the professional pride, a consideration higher than money, because s/he can fell her/his work is appreciated. I believe this is the case not only for in-house people, but also for freelancers. Even a high salary would not motivate as much a translator as the pride in the work. The professional integrity comes with the idea of being reliable, involving in the profession and respecting the ethics. Reliability means doing the job as to meet the users needs. The translator is in a position of translating the texts that the user needs, in the style the client wants them to be translated, and by a deadline requested by the user. The attempt to become a reliable translator may sometimes bring about assignments that are impossible to achieve for many reasons: the texts are morally inappropriate, the necessary work is consumptive or the experience is not enough to deal with such a text. The translator involves in his profession in many ways. If s/he participates to courses and conferences in the field, this will consolidate the professional self-esteem that will definitely encourage and motivate them to accept different challenges: Reading about translation, talking about translation with other translators, discussing problems and solutions related to linguistic transfer, user demands, nonpayment, and the like, taking classes on translation, attending translator conferences, keeping up with technological developments in the field, buying and learning to use new software and hardware − all this gives us the strong sense that we are not isolated underpaid flunkies but professionals surrounded by other professionals who share our concerns. Involvement in the translation profession may even give us the intellectual tools and professional courage to stand up to unreasonable demands, to educate clients and employers rather that submit meekly and seethe inwardly. Being a translator does not mean only being involved in a work that s/he loves but also earning a living. Professional translators know the quality of their work and they will charge their clients according to this criterion. Of course, the amount of money is proportional with the volume of their assignments and the speed they work with. Probably translators are expected to translate fast; usually in-house translators translate fast, but the work in an agency is different from that of a freelancer. Freelancers have a different rhythm of their work and, if they do translations faster, this will bring more money for them. Of course, if one translates for pleasure and amusement, there is no need for being fast. They savor every step in the process and tend to deal with one paragraph for hours. Many factors influence the translation speed. One of them is typing speed. It helps the translator to write rapidly his/her ideas on the computer. Another factor of importance is the degree of text difficulty. A difficult text will slow down the process of translation and will take much more time do it. The continuous practice and experience makes the translator to process easily the difficult words and structures. The same situation is for how the familiar the text will be for the translator. Other factors that interfere in the process of translation are the personal style and the general mental state of the translator. The use of translation memory software is very helpful for a translator and increases the translation speed. Besides these advantages, many things should be taken into account: if the volume of translation is reduced, this will not warrant the cost of the software. Usually, in-house translators use this software. Large corporations usually need a great volume of translations and address to them and not to freelancers. This software is helpful only with texts in digital form; it is not helpful in the case of literal translation. However, freelancers who work for different agencies and who have a high-volume of assignments say that the use of translation memory software is very helpful though it is not very creative. 1.1. Skills of reading and writing The translators knowledge of translation theory and the skills of reading and writing a text are definitely of paramount importance for the quality of the translation. The ethics of translation speak about the way in which a translator should understand the text that needs to be translated, how to recognize the authors intention in order to render the appropriate message into the target language. The translator has to analyze the text linguistically, culturally, philosophically, even politically, if necessary. The first step is to get a general reading and then a closer one to establish the characteristics of that text. The translator has to know how to identify the authors attitude to the subject matter. S/he also must pay special attention to the type of language that is used, grammatical structures, register, rhetorical function, genre, the use of modals and especially to the needs and expectations of the target audience. It is known that all these ethical rules are taught because they do not come instinctively. Usually, if they come naturally, they surely come by experience. A professional translation often arises at the subliminal level due to the fact that the translator has an analytical feeling which helps him/her finding the solutions to those problems that are somehow similar to precedent situations. The novice translators are taught analytical guidelines to help them becoming familiar with the rules and, at the same time to become proficient, without being aware of it. The wheel of experience shows how this analysis of the brain becomes a sort of second nature for the translator during the process of translation. Another reading guideline for the translator is to decide the emotional tone and the degree of formality of the source text. Determining the audience of the target text shows how the target language should be structured, deciding to whom it is addressed, to the educated, the average literate audience or others. Children are a special audienc e and the message is different according to the age, the degree of familiarity with the stories, the amusement that the translation provokes and many others. Eugene Nida explains how the ability of decoding a text should work: Decoding ability in any language involves at least four principal levels: (I) the capacity of children, whose vocabulary and cultural experience are limited; (2) the double-standard of new literates, who can decode oral messages with facility but whose ability to decode written messages is limited; (3) the capacity of the average literate adult, who can handle both oral and written messages with relative ease; and (4) the unusually high capacity of specialists (doctors, theologians, philosophers, scientists, etc.), when they are decoding messages within their own area of specialization. Obviously, a translation designed for children cannot be the same as one prepared for specialists, nor can a translation for children be the same as one for a newly literate adult. The translation has to be the same with the translators intention and point of view and the translator always has to keep in mind the target language readership. The translation of colloquial and intimate phrases are always problematic for the translator and they should be translated carefully. The grammatical analysis helps the translator to understand the relationships between the words and at the same time to help him/her to get the message of the author. It becomes crucial to find the correct meaning of the grammatical constructions given the fact that one construction may have many interpretations or meanings. The problem becomes acute in the case of idioms because they need a special approach when they need to be translated. Eugene Nida and Charles Taber mention the difficulties that arise when translating these expressions: Idioms are typically constructed on quite normal grammatical patterns of phrase structure, but the meaning of the whole idiom is not simply the sum of the meanings of the parts, nor can one segment the meaning (in the many cases where it is complex) and assign a definable portion of the meaning to each grammatical piece (e.g., a morpheme). [] one must treat the entire expression as a semantic unit, even though in the surface structure of the grammar it obeys all of the rules applicable to the individual pieces. Writing skills are as important as reading skills and refer to the ability of writing in a clear and proper form. Translators have to be familiar with different styles of writing according to each domain, as well as with those conventions regarding editing. The skills of reading a source language text are significant qualities for a translator and help him understanding the original text and delivering a translation in an appropriate and correct style. Reading the source text is the first step in the process of translation and the better the translator understands the meaning of the authors intention, the clearest he will render the message into the target language. The understanding of the source text represents a primary ability necessary in the process of translation, followed by a combination between other skills, which will be presented in this chapter. 1.2. Subject area and contrastive knowledge Translators must be aware of the importance of being specialized in various subject fields, such as: medical translation, legal translation, financial translation, technical IT translation, scientific translation, marketing and PR translation, website translation and others. The knowledge of a certain subject area helps the translator to deal with words and constructions that are specific to that domain. Many translators have the courage to say that their knowledge of translation theory allows them to accept texts that need to be translated from different fields. It is somehow premature to say that, especially by a beginner in the field of translation. Of course, an experienced translator may deal easily with this type of texts, but ideally, one should have in mind the necessary training in a particular field. Contrastive knowledge refers to how a translator should be able to find the contrastive elements between the source and target language so as to deliver an accurate message through his/her translation. An analysis should be made at the linguistic level, namely the syntactic, semantic and pragmatic levels, and the literary one. The syntactic level deals with the analysis at the sentence, clause, phrase and word level. The semantic analysis refers to how the translator examines the relationships between the elements found through syntactic analysis. At the pragmatic level, the translator tries to identify the register features of the text which express the intention of the source language author. After these three steps of analysis, follows the stage of synthesis, a stage that starts on the contrary way, with the pragmatic level. 1.3. Source language and Target language knowledge It is well-known the fact that a translator should possess a good knowledge of both source and target language, in other words, s/he should be a master of the two languages. They have to be fluent in the two languages in order to be able to transmit the proper message and to sound as natural as possible in the target language, using a correct style and terminology. What is also important is to know and apply all the rules concerning editing conventions of the two languages which will help the readability of the target language text. The booklet entitled †Bilingual Skills Certificate and Certificate in Community Interpreting† published by the Institute of Linguists gives an interesting definition on bilingualism: Bilingual service providers are people who possess two sets of skills language and professional skills, so that they can give the same standard of service in the context of two languages and cultures. In order to provide an equal standard of service to all clients, the people providing the service should have adequate standards of training and qualification in both sets of skills. For example, allowing people to give medical advice or gather information upon which medical decisions are made when they are not qualified and solely on the grounds that they happen to speak French or Urdu is as bad as giving good medical advice which cannot be understood. One of the risks that translators are dealing with is that of fooling the brain into thinking that the structures used in the target language are correct merely only because they are correct in the source language. This is especially the case of translators who work in their adopted country as a result of the fact that they begin to think like a native. Keeping up with cultural change is the way in which the translator can understand a language properly and s/he can translate it successfully. For this reason it is said that the best translations are done by native speakers, residents in the country where the target language is spoken. If the translator has the possibility to travel to the source language country to work on different tasks, he will be able to date with the source language and culture and at the same time s/he will maintain the knowledge of the mother tongue at the proper level. The translation always needs to be localized for the intended reader. This is a factor of great importance because it governs choice of language, presentation, the level of the language. The language needs to be elementary but not extremely simple. A competent translator will always know how to adapt his ear to the target language and will use his intuition when it comes to adjust to target language rules. 2. Factors that influence the translational competence The language and the process of thinking are not identical phenomena but they are closely linked and interrelated. If we take into account the language as a communicative process, we need to specify that what it is transmitted or communicated is a message, so it is a semantic content. The verbal expression is dependent on choosing the words and the way of phrasing. For example, the verb to say can be expressed by other verbs with an equivalent or words with an approximate meaning: to communicate, to dispose, to inform, to report, to discuss, to talk, to enlighten, to explain, to remember, to advise, to persuade and many others. Communication becomes concrete exactly by using the perfect word, appropriate for a situation. By using the verb to say instead of all the other verbs, we would express ourselves in a generic, graded way, and practically we would not manage to suggest a rich content. In such a situation, a translator will always have to select carefully the words to express th e intention and the attitude of the source language writer. A good knowledge of a foreign language is not sufficient for being a proficient translator. A translator needs to be a translator by his/her nature. There are many skills that I consider to be the most important, for example the knowledge of translation theory, the ability to analyze, compare and convert texts from one cultural domain into another, the experience in the field, the level of implication in the process of translation and many others. Trying to reach an absolute equivalent is impossible even if the translator detains great resources at the linguistic, stylistic and literary level. Psychological factors also affect the process of translation and speak about the level of translators implication when rendering the message into the target language. The translators way of expression comes and forms itself at the mental level and, based on a specific developed background affects the quality of the translation. 2.1. Psychological factors Due to our way of thinking, a man can decide upon the meaning of an object, phenomena or action connected to his environment. This is possible taking into account the new information by reference to the assimilated and systematized background knowledge. This is a part of the mental process involved in the process of translation. The understanding of a translator can be guided by several intentions or points of view. For example, a complex situation, such as translation, which implies natural, economic, geographic and cultural factors, can be understood under different angles. If a translator doesnt have the necessary knowledge s/he cannot decode the meaning of the original text. The translation has to sound as natural as possible, let alone the fact that it shouldnt contain confusing words so as to make harder the reading and understanding of the audience: †[]it should studiously avoid the translationese formal fidelity, with resulting unfaithfulness to the content and the imp act of the message.† The impossibility of making a perfect translation should not become a frustration for the translator. Of course, there will always be persons who will translate better, but maybe in a different style. Showing empathy for a certain author will positively influence his/her work and style of writing. It is unethical for a translator not to be objective inside the translation process. Nevertheless, it is obvious that s/he will think about translation as the experience in the field tells him/her how to do it. Sometimes the experience guides a translator in choosing the words or expressions. Another psychological factor, altering the meaning of the source language text and imposing, consciously or not, a personal viewpoint on the audience is not a good decision for a translator to take. The translator must try to preserve the uniqueness of a culture, its characteristics and norms. In translation, cultural psychology shows how a concept from a certain historic, social-economic or cultural background of a country or region can be found in another one but does not reflect the same thing as in the first one: Phoenix is a legend in Chinas miraculous animals, on behalf of luck, happiness and elegance, it is believed to ride Phoenix a bike can bring good luck, while in Western culture, the legendary phoenix is a phoenix, a regeneration, Resurrection and other means, so that the goods in the West is not surprising that no one is interested. Consumer psychology has implications in the way in which the consumers interests are motivated. Through a good translation, the promotional character of this type of psychology can attract clients or, on the contrary, not even stimulate them at all to buy a product. For example, Happy Cakesgiving!, a collocation taken from an advertisement about a special and tasteful cake, remembers about Thanksgiving Day, a holiday usually celebrated in the United States and Canada. The construction is very interesting and is in fact an adaptation of the holiday, underlying the importance of it for so many people. It is very hard, if not almost impossible to find an equivalent into Romanian, but a translator may always find a solution to satisfy the audience, adapting somehow the term to the local culture. Ziua deliciului may be a variant with relevance for the Romanian culture, resembling with the structure of Ziua mamei (Mothers Day), Ziua Nationala (National Day), Ziua Unirii (Unification Day) a nd so on. The aesthetic psychology works in translation at the pragmatic level. The artistic words and phrases, the combination of structures that reflect the beautiful, the elegant and graceful utterances are to be translated in the same way into the target language. This is a very hard to achieve due to many reasons. One of them is the specific syntax which makes the difference between the languages. Preserving the rhyme of a Romanian text when translating it into English is very difficult. The thematic structure of a text in Romanian is very hard to render into English. If we take the example of a section from Zamolxis, by Lucian Blaga, we will find that is impossible to preserve the elements of rhythm and rhyme. e.g. MÇÅ ½-mpÇÅ ½rtÇÅ ½Ãƒâ€¦Ã… ¸esc cu cà ¢te-un strop din tot ce creÃ…Å ¸te Ã…Å ¸i se pierde. Nimic nu mi-e strein, Ã…Å ¸i numai marea à ®mi lipseÃ…Å ¸te. I share a drop of all that waxes and wanes. Nothing is alien to me, and the sea alone is absent. Another reason for which it is very difficult to preserve the style of a specific text is the word order, which does not permit the translator to deal easily with the style of the original. In order to realize the message of the source language text, a translator will have to take decisions regarding what it should reproduce, either the forms or the ideas of the original. My belief is that a good translator will always be able to maintain the stylistic characteristics of a text and to construct structures that will transfer the propositional content and communicate the purpose intended by the source language writer. 2.2. Knowledge of translation theory In order to gain recognition in the field of translation, a bilingual speaker has to respect the norms that give him the responsibility over a text. Gideon Toury distinguishes between two groups of norms relevant for the process of translation: preliminary and operational. Preliminary norms deal with two major sets of concerns, which are usually interrelated: those regarding the existence of a definite translation strategy, and those related to the truthfulness of translation. Operational norms refer to the decisions made during the act of translation itself. A faithful translation depends on the correct selection of the appropriate method of translation. There are many people who wrongly believe that literary translation is more important than the technical one saying that the latter contains specific terms that are easy to translate whereas the first one is far more complex. Any translation is a very complex task and requires the same knowledge and responsibility from the part of the translator. One of the roles of the translator is to assist and fulfill the target readers expectations. The principle that governs this idea is that a translator should not transmit only the words to the readers, but the ideas of the source language text. The translators task becomes very difficult to achieve if s/he does not understand properly the referential meaning of a text so as to transfer it correctly to the target language. Another important role of the translator is to produce the same impression on the target readers as the author of the source language produces on his/her own readers. Another guideline stipulated by translation theory is that a translator should correct the misrepresentations, which belong to the extralinguistic reality. S/he has to find if a text has a correct syntax, if it contains stereotype phrases, fashionable general words. If the text is not well written, s/he can interfere in the original text and perform intra- and interlingual translation so as to transmit an appropriate message. A close attention must be paid to word order, false friends, common structures which become unnatural by one-to-one translation, the use of elevated usage of words and idioms or the use of infinitives, gerunds and verb-phrase. The translator should write in his own style and should not use words and expressions that produce an artificial effect on the target text. 2.2.1 Translation methods Paraphrasing Another principle related to the knowledge of translation theory is the use of paraphrase as a solution to those words which do not have an equivalent in the target language, whether they are technical, scientific, literary or institutional terms. In translation theory, to paraphrase means trying to express the signification of a word by amplifying or explaining its meaning: [†¦] is a technical term from linguistics and related disciplines, and is characterized by three specific features: (I) it is intralingual rather than interlingual, i.e., it is â€Å"another way of sayng the same thing† in the same language; (2) it is rigorous, in that there are no changes in the semantic components: no additions, no deletions, no skewing of relationships, only a different marking of the same relations between the same elements; (3) specifically as it relates to back-transformation, it is aimed at restatement at a particular level, that of the kernels. This often happens in the case of poorly written texts or it is also a method used in translating the Bible. The latter case implies many debates because paraphrasing the Bible means an interpretation that tends to be subjective due to the translators point of view regarding religion. Eugene A. Nida points out this idea in his work â€Å"Toward a science of translation†: The dangers of subjectivity in translating are directly proportionate to the potential emotional involvement of the translator in the message. For scientific prose such involvement is usually at a minimum, but in religious texts it may be rather great, since religion is concerned with the deepest and most universal value systems. In some instances it is a translators own sense of insecurity which makes it difficult for him to let the document speak for itself, and in other instances a lack of humility may prompt him to translate without consulting the opinions of those who have studied such texts more fully than himself. So, this method includes not only advantages, for the ability to transmit the message, but also disadvantages because it alters the original meaning. By using a paraphrase, the translator can render the meaning of the source language text. Since this is a way to carry in the target text the intention of the author, the paraphrase shows how s/he can remain faithful to the original. Problems about paraphrasing arise when we try to detect its level of fidelity in the process of translation. Every translator will have his/her own way of interpreting the original text and, thus, an original method of paraphrasing. Sometimes trying to eliminate the use of a paraphrase may result in weakening the text. A special attention should be paid to the substantial sense of a translated work after using the paraphrase. Functional Equivalence Functional Equivalence, also called dynamic equivalence is a method in which the translator tries to reflect the intention of the author in the source language at the expense of the original grammatical structure. Industrial and Commercial Bank of China: Case Study Industrial and Commercial Bank of China: Case Study Abstract International fund raising used to be the domain of multinational companies. MNCs not only source raw material across the world or sell products at many geographical regions, they also scouting for capital all over the world and raise capital where it is cheaper. Investors’ appetite for foreign company shares have also increased manifold and internationalization of equity market across globe is happening at a faster speed. However, internationalization of equity markets has a broader connotation covering entire gamut of FDI, portfolio investment by big ticket players like pension funds, hedge funds and private equity funds and their ilk, this module focuses on equity capital to have been raised by Industrial and Commercial Bank of China from the international market. Why ICBC felt the need to issue equity in markets outside of China ICBC mainly issued equities to foreign markets to strengthen their corporate governance practices, risk management and internal controls, and enhance their treasury operations, asset management, corporate banking and investment banking operations as well as their non-performing loan disposal capabilities. For instance ICBC collaborated with Allianz to develop and provide bank assurance products and services to their customers; and as for American Express, ICBC began and continue to expand their cooperation on bankcard business, risk management and customer service to enhance its financial performance and efficiency. Advantages and disadvantages of issuing equity in foreign markets Through the move of issuing equity in markets outside china, ICBC is able to raise capital denominated in USD and that to huge amount of capital, which may be difficult to raise from the issuer’s home country. By issuing securities in a new market, it is able to expand the investor base. When ICBC’s share listed in a domestic market, analysts in the domestic market start analysing the company, its product; its market share etc. thus indirectly helps in advertising the company. When a foreign ICBC’s shares are listed in a domestic exchange and the foreign company wants to acquire another domestic company, then share swap can be an option for the foreign company. Despite the prime advantages of issuing equity to foreign markets, several obstacles may be present for instance companies have to pay for the, depository fee, listing fee, audit fee and also companies have to recast their annual report as per the GAAP of the foreign country. Attraction of the ICBC in Regards To Providing Exchange Listings to Foreign Investors As host countries are getting advantages of FDI and, the investors are also not far behind in terms of their benefits. Numerous factors attracted ICBC to provide exchange listings to foreign investors in a number of ways. ICBC was mainly attracted to exchange listings as it enhances the domestic competitiveness, provides the opportunity of taking significant advantages of international trade technology, contributes towards increasing of sales and profit, extends sales potentials of the existing products, and maintains cost competitiveness in the domestic market set-up. It also enhances possibilities of business expansion, helps in the process of obtaining global market share, reduce the dependency on existing markets, and also stabilize seasonal market fluctuations (Oman, 2000; Rajan, 2005; Rao et al.,1999). The advantages of FDI have been successfully utilized by ICBC in almost every sector. Why investors should be interested in exchange listings There are many benefits to why investors should be interested in exchange listings for instance income returns and price change. The income return represents periodic cash flows generated by the investment. These include dividends paid for ordinary shares and periodic interest paid for bonds. Stocks that pay dividends typically distribute them quarterly. Government bonds pay interest on a semi-annual basis, and debentures pay interest monthly, quarterly, semi-annually, or annually. Investors whose primary objective is to generate periodic income from their investments focus on the income return. Price change is the increase or decrease in price of the asset in relation to the purchase price or the market price in the previous time. An appreciation in the price of the asset is called a capital gain while a price decline is called a capital loss. The prices of assets such as stocks, bonds, and real estate fluctuate over time in response to a variety of factors such as economic news, in dustry conditions, company`s performance, political conditions, as well as speculation. While the investor expects a capital gain, there is no guarantee that the price will always increase in value. Those investors whose primary investment objective is capital appreciation focus on the price change component of return. Risks for a foreigner associated with investing in ICBC Stocks are volatile investments. The price of a single stock can vary quite widely from day to day, and the factors that cause these price fluctuations are beyond the control of the investor. Buying a widely diversified basket of stocks can be difficult for all but the wealthiest investor. Small investors are better off buying a quality stock mutual fund. Mutual funds pool the investments of many different people in order to buy a diversified set of stocks. This diversified approach helps to reduce the risk inherent in the stock market. As investors near retirement, the amount of stocks in the portfolio should be reduced. Investors who are close to retirement age can no longer afford to take chances with their  money, and that means moving a significant portion of their retirement funds to safer and  more stable investments. Buying and selling stocks costs money in the form of brokerage commissions, and many brokerage firms charge account maintenance fees as well. It is important to look for low cost alternatives when buying and selling stocks. References Allen, F., J. Qian, M. Qian, and M. Zhao (2009). â€Å"A Review of China’s Financial System and Initiatives for the Future,† Chapter 1 of China’s Emerging Financial Markets: Challenges and Opportunities, edited by J. Barth, J. Tatom, and G. Yago, The Milken Institute Series on Financial Innovation and Economic Growth, New York: Springer, 3-72. Bekaert, G., C. Harvey, and C. Lundblad (2005). â€Å"Does Financial Liberalization Spur Economic Growth,† Journal of Financial Economics 77, 3-55. Quinn, D. and A. Toyoda (2008). â€Å"Does Capital Account Liberalization Lead to EconomicGrowth?† Review of Financial Studies 2, 1403-1449.