Npv vs. Irr Essay Example

Npv vs. Irr Essay Versus IRR W. L. Silber I. Our favorite project A has the following cash flows: -1000 0 0 1 0 2 +300 3 +600 4 +900 5 We know that if the cost of capital is 18 percent we reject the project because the net present value is negative: 1000 + 300 600 900 + + = NPV 3 4 (1. 18) (1. 18) (1. 18)5 1000 + 182. 59 + 309. 47 + 393. 40 = -114. 54 We also know that at a cost of capital of 8% we accept the project because the net present value is positive: 1000 + 300 600 900 + + = NPV 3 4 (1. 08 ) (1. 08 ) (1. 08 )5 1000 + 238. 15 + 441 . 02 + 612 . 52 = 291. 69 II. Thus, somewhere between 8% and 18% we change our evaluation of project A from rejecting it (when NPV is negative) to accepting it (when NPV is positive). We can calculate the point at which NPV shifts from negative to positive by searching for the value of r, called the internal rate of return (IRR) in the following equation, which makes the NPV=0. 1000 + 300 600 900 + + =0 3 4 (1 + r ) (1 + r ) (1 + r )5 More generally, if CFi is the cash flow in period i, the IRR is that rate, r, such that: CF0 + CFt CF1 CF2 + +L+ =0 2 (1 + r ) (1 + r ) (1 + r )t In our case, CF0 = -1000, CF3 = 300, CF4 = 600 and CF5 = 900. All the other CFi = 0. III. The IRR can, in general, only be derived by trial and error. Putting our values for the CFi into a calculator (very carefully) we find the IRR= 14. 668%. We can check this result as follows: 1000 + 300 600 900 + + = 3 4 (1. 14668) (1. 14668) (1. 14668) 5 1000 + 198. 97 + 347 . 04 + 453 . 97 = -. 02 The sum is not exactly zero because of rounding. IV. We can now formulate an alternative rule to accepting the project if NPV gt; 0 and rejecting it if NPV lt; 0. In particular, we can recommend rejecting a project if the cost of capital is greater than the IRR (14. 68% in this case) and we can recommend accepting a project if the cost of capital is less than the IRR. These two rules are equally acceptable in this case for determining whether project A will increase the value of the firm. V. There are circumstances, however, where the IRR rule and the NPV rule provide conflicting advice. In particular, IRR and NPV may differ where there are two mutually exclus ive projects that must be ranked according to which one is best and where these two projects have very different timing of cash flows. Whenever there is a conflict between NPV and IRR the correct answer is provided by NPV. Let’s see why. VI. Suppose we want to compare project B with project A. The cash flows are described below, with B’s cash flows equally distributed over time, while A’s cash flow (as we saw) are delayed. A -1000 0 B -1000 1 +320 2 +320 +300 3 +320 +600 4 +320 +900 5 +320 We have already solved for the IRR of project A, i. e. , IRRA = 14. 668%. Solving for the IRR of project B produces, IRRB = 18. 03%. Thus, the IRR rule ranks project B better than A. We will write a custom essay sample on Npv vs. Irr specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Npv vs. Irr specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Npv vs. Irr specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Let’s see whether that is also true for the NPV rule, i. e. , let’s see if NPVB is always greater than NPVA. To implement the NPV rule we must calculate the NPV of A and B for alternative values of the cost of capital. This is done in table 1: Table 1 Cost of Capital 20% 15% 10% 8% 5% NPVA -175 -12 +194 +291 +458 NPVB -43 +73 +213 +277 +385 Notice that project B is better (has a higher NPV) than project A when the cost of capital is above 10% (above 20% both have negative NPVs, but B is less bad), while project A is better when the cost of capital is below 8%. In fact, you can calculate the exact cost of capital at which the recommendation switches by setting NPVA = NPVB and solving (after some algebraic manipulations) for the IRR under those circumstances. This IRR turns out to be 8. 8169%. VII. We see that the NPV rule says that project B is better than project A (the same ranking as the IRR rule) only for â€Å"high† values for the cost of capital, i. e. , for a cost of capital greater than 8. 8169%. For values of the cost of capital below 8. 8169% project A is better. This makes considerable sense. When the cost of capital is â€Å"high† the delayed cash flows of project A are penalized considerably, while when the cost of capital is â€Å"low† the delayed cash flows are not penalized. Indeed, the low cost of capital makes those â€Å"large but delayed† cash flows quite valuable. VIII. One way to understand the preference of NPV over IRR, more generally, is to recognize that NPV uses the â€Å"correct† rate, i. e. , the cost of capital, to discount the cash flows, rather than an â€Å"arbitrary† rate, i. e. , the IRR, that makes NPV =0. Another way to understand the superiority of the NPV rule is that the discounting process inherent in both the IRR and NPV techniques implicitly assumes the reinvestment of the cash flows at whatever discount rate is used, either IRR or the cost of capital. When the IRR is very high relative to the cost of capital it is unrealistic to assume reinvestment at that high rate. This is especially damaging when comparing two investments with very different timing of cash flows. We will revisit this reinvestment assumption later, under our discussion of yield to maturity on coupon bonds, where its meaning will become clearer.

Free Essays on Why War

Why we shouldn't go to war with Iraq By With the publication of a report in last week's New York Times about the Bush administration's plans for the invasion of Iraq, it seems that war with that country is fairly certain. Previous rhetoric from the president or one or another of his surrogates could always be explained as some kind of politically driven chest-thumping, but it's hard to see the political advantage of the kind of secret and detailed war plan the Times disclosed. The details in fact sound pretty ferocious. "The document envisions tens of thousands of marines and soldiers probably invading from Kuwait. Hundreds of warplanes based in as many as eight countries, possibly including Turkey and Qatar, would unleash a huge air assault against thousands of targets, including airfields, roadways and fiber-optics communications sites." The Times' description makes it sound like the biggest war flick since The Sands of Iwo Jima. Indeed, it sounds bigger and far more violent than anything the United States has carried out since at least the "liberation" of Kuwait (i.e., the restoration of the despotic emirate that the Iraqi armed conquest had toppled) and perhaps since well before that. What the document discloses is not a "police action," and not a "rescue mission"; this is full-scale war. Since the American Republic has now evolved to the point ... Free Essays on Why War Free Essays on Why War Why we shouldn't go to war with Iraq By With the publication of a report in last week's New York Times about the Bush administration's plans for the invasion of Iraq, it seems that war with that country is fairly certain. Previous rhetoric from the president or one or another of his surrogates could always be explained as some kind of politically driven chest-thumping, but it's hard to see the political advantage of the kind of secret and detailed war plan the Times disclosed. The details in fact sound pretty ferocious. "The document envisions tens of thousands of marines and soldiers probably invading from Kuwait. Hundreds of warplanes based in as many as eight countries, possibly including Turkey and Qatar, would unleash a huge air assault against thousands of targets, including airfields, roadways and fiber-optics communications sites." The Times' description makes it sound like the biggest war flick since The Sands of Iwo Jima. Indeed, it sounds bigger and far more violent than anything the United States has carried out since at least the "liberation" of Kuwait (i.e., the restoration of the despotic emirate that the Iraqi armed conquest had toppled) and perhaps since well before that. What the document discloses is not a "police action," and not a "rescue mission"; this is full-scale war. Since the American Republic has now evolved to the point ... Free Essays on Why War Why War What happens to the aggressive instinct when people unite to form a lawful society they still do violent things but they think it is right because the community backs it. I believe that they still act in violence but they do it through the community so they believe it is not wrong. What it is controlled violence thought the community and nothing else. It is just having the hole community making the dictions in steed of one person , but they are still acting in violence they just have the backing of a majority of the community this is what I believe that they are saying in there letters. People still have the same instinct for violence they just do not believe it is right for one person to act on it the majority of the community has to believe they did something wrong, and must be punished for it. Basically a jury trial were twelve of your peers decide if you are guilty or not and decide how violent your punishment will be. Like I said it is just the community acting in violence instead of one person. They will punish one person for being violent, but if the whole community backs the act it is ok at least that’s what we think. I think that if it is the whole community backing it or just one person acting out of rage it is wrong to act out in violence period. But even I act out in violence it is a instinct we can’t break it is necessary for are survival for the human race. I don’t think we could ever live without violence we are not even capable of the thought. I mean sit down and think about it you can’t even picture it you may think you can, but if you look deeper in your thoughts about it even in your perfect society in your mind some were there is some act of violence. This is my opinion you may have a different one and I would like to here it. The aggressive instinct stays there it is just the way we have been raised that we do not think it is wrong to act out in mild violence or in murder if the community is bac...

For this week's discussion you will explore macros and security Assignment

For this week's discussion you will explore macros and security features provided by MS Word - Assignment Example The macro can also be used to highlight a particular text or word and then use ‘macro’ to navigate it to definition or detailed information. In addition, Macro can also be used to add more detail to a particular text or event mentioned in the document. U.S Department of Energy Computer Incident Advisory Capability defines, â€Å"Macro Virus’ as a piece of self-replicating code written in an application’s macro language† (Salomon, 2010). Macro Virus affects the entire document, therefore, if any document that has Macro Virus shall be replace with a new document. It can be prevented through using digital signatures and updating software on a regular basis (Salomon, 2010). The virus can affect the entire document and you may loose the entire information, the entire file, template or document may get corrupted and causing a series of automatic destructive actions to your

Ballroom dancing classes (or any other dance style where both genders Research Proposal

Ballroom dancing classes (or any other dance style where both genders would be happy to take part in) improve balance (dynamic) and decrease falls incidents in healthy older adults - Research Proposal Example has led to the initiation of more critical studies to explain how ballroom dance can remain tailored to boost balance and minimize falls incidences in older individuals. Inquiries into the physical activities note that, regular involvement in ballroom dance is vital to maintain one’s physical, emotional, and cognitive health (Bethancourt et al., 2013), besides, it can also be tailored towards the improvement of balance and reduction of falls incidences. Further, despite numerous advantages related to the exercise, many individuals fail to participate in any form of physical activities in sufficient periods (Park et al., 2014). The purpose of this study is to present a detailed report on the importance of engaging older adults in ballroom dance. As a form of physical activity, ballroom dance enhances balance and reduces falls instances among older individuals. Early research, epidemiological data, and surveys suggest an arrangement of groups to utilize the ballroom dance as a form of physical activity amid older individuals (Souza et al, 2015, p. 1). Two categories, that is, the conditions and practices related to health and demographic data have remained emphasized in the prediction of exercise among older individuals in the contemporary world. In relation to demography, age is perceivable to be less associated to exercise whilst high education levels show an increased trend of older adults in physical activities, particularly ballroom dance (Medina, Barquera, and Janssen, 2013, p. 21). Further, there is a significant relationship between ballroom dance and marital status. Studies show that ballroom dance serves as a substitution for social support among adult couples. On employment, people tend to be busy with the job demands and forget about exercises. Proposals argue that, after job, the people are too tired to be involved in dynamic physical activities like ballroom dance. The situation enhances negative behaviors in older adults in relation to this kind of

Assignment - Interview Essay Example | Topics and Well Written Essays - 1500 words

Assignment - Interview - Essay Example He gained working experience in server administration, and simultaneously specialized in network storage technologies by taking a certified course. His combination of skill, knowledge and experience saw him rise very fast up the corporate ladder. He now leads the ICT department of Travelways Inc. and takes a special interest in ensuring that there is no disruption to the ICT support his team provides to the organization. 1. Travelways Inc. is a travel and holiday organizer. Every aspect of its functioning right from the initial stage when a prospective client makes an enquiry is dependent on ICT. Clients access our servers for all information they require at all stages of their travel and holiday. We use the Internet to make contact with airlines, railways, shipping corporations, hotels and tour operators all over the world to book passages and make reservations. The very business of Travelways Inc. can be termed a ICT business. Its ICT department is the most crucial department. 3. Yes, some disasters are unavoidable in spite of all precautions. Of course, we have a disaster recovery plan integrated with out business continuity. I would like to distinguish between the two. The Disaster Recovery Plan or the DRP is usually specifically concerned with the restarting of a crucial set of ICT systems and infrastructure components. The process of Business Continuity Planning or BCP, on the other hand, is concerned with the enterprise as a whole, and deals with business functions rather than application systems. What however needs to be understood is that Disaster Recovery is a core component of any Business Continuity effort with many overlapping areas. They address the same basic problem. 4. Yes, many companies first build a working DRP before taking the next logical and inevitable step and developing an overall BCP. If the relation between the two processes is understood well enough, then knowledge gained in one

Strategic Management: An Introduction

Strategic Management: An Introduction Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It involves the systematic identification of specifying the firms objectives, nurturing policies and strategies to achieve these objectives, and acquiring and making available these resources to implement the policies and strategies to achieve the firms objectives. Strategic management also integrates the activities of the various functional sectors of a business, such as marketing, sales, production to achieve organizational goals. It is generally the highest level of managerial activity, usually imitated by the board of directors and executive team. Strategic management hopes to provide overall direction to the company has ties to the field of organization studies. Strategic planning is a management tool, period. In short, strategic planning is a disciplined effort to produce fundamental decisions and actions that shape and guide what an organization is, what it does, and why it does it, with a focus on the future. Strategic management also allocates the right amount of resources to the different parts of your business so that those assigned to particular goals have what they need to meet their objectives. This ranges from providing your workers with the right supplies to enacting systems by which employees receive the necessary training, all work processes are tested, and all information and data generated is documented. To effectively manage your business strategically, every inch of your company must have its needs met in these ways. Furthermore, one must know that two businesses cannot be same and there should be some basic differences between them. Because of this, the goals and the plans of action are different for each business. Plus, the strategies for long term and short term development should be different and these need to be applied separately. QUESTION 1: Explain how someone can be a manager but not a leader, a leader but not a manager, and both a manager and a leader. A manager is a person with a job of overseeing one or more employees or department to ensure these employees or departments do their job or assigned duties as required. A manager helps others to get more done by motivating the employees, providing directions , making sure the employees working together towards a common goal, and providing feedback. A new manager may be responsible for a small team or a small project. Usually a senior manager will watch over his or her work. The manager will have to learn the strengths and weaknesses of the team members, instruct a work to the team members, guiding team members to reach goals, provide the tools needed by the team and motivate them to do their task. Usually , a new manager has limited responsibility for money issues and little chances to approve or make an expenditures. They have to review and approve timesheets for their employees and may have the chances to approve expense accounts. The term of manager is not the same for leader since the two terms are not the same. A manager must ensure the appropriate delivery of human resources and funding to meet the routine daily productivity objectives. The manager is known as detailed oriented. Mangers don not see the overall picture and are less interested regarding the long-term corporate goals and mission. They are worried about details; as a result, they do not make them a good leader. Some managers may have certain leadership qualities but they remain too focused on their daily operations and are unable to provide direction and vision to the organization. A manager plans, organizes, leads, and controls whereas a leader influence others through communication, motivation, discipline, direction and dynamics Typically, the goals are set for a beginning manager by someone higher ranking in an organization. Here , the manager have to develop a plan to achieve the goal set. They have to provide feedbacks to their employees as they work with those plans. To be a manager , developing skills at all level is important . At a beginning level , examples of two area where a manager need to focus their skill development are the ability to manage their meetings and developing their own planning tools such as to do a list. A leader is different from manager. A leader is a person who has vision, a drive and a commitment to achieve that vision, and the skills to make it happen. A leader see a problem that needs to be fixed or a goal that needs to be achieved. A leader is also a person who guides others towards a common goal, showing the employees by example and creating an environment in which other team members feel active and involved in any process or task. A leader is a good listener. Leaders have to keep their mind open to others ideas. They can come up with new ways to accomplish the goal set. It is the leaders job to make sure that everyone in the group is being heard. Leaders have to listen to the team members ideas and listen their criticism for improvements. Leaders have to be focus all the time. They have to keep on remind themselves and the team members of the goals and mission. Staying on track and keep the team members on track ,the team will stay motivated and more productive. As leader of the group, it is important that you schedule time to meet with your team to establish and check-in about the goals you hope to achieve. Leaders also have to be organized. Leaders are responsible in a lot of things and might be very busy sometimes. A leader can set the tone for the team. A leader who is organized helps motivate team members to be organized as well. As a leader, youre responsible for a lot and youre probably going to be very busy at times. However, you still need to find time to talk with your team. A good way to do this is to set frequent group meetings, so that no question or concern goes too long without attention. Leaders also have to be decisive. Although an important part of being a leader involves listening to the people surrounding, they have to remember that they are not always going to be able to reach a compromise. When this happens, dont be afraid to make the final decision, even if some team members disagree with the plans. Confident is the most important characteristics of a leader, leaders have to believe themselves and the success of the team members. Show others that you are dedicated, intelligent, and proud of what you are doing. A manager basically directs resources to complete predetermined goals or projects. For example, a manager may engage in hiring, training, and scheduling employees in order to accomplish work in the most efficient and cost effective manner possible. A manager is considered a failure if they are not able to complete the project or goals with efficiency. . On the other hand, a leader within a company develops individuals in order to complete predetermined goals and projects. A leader develops relationships with their employees by building communication, exampling images of success, and by showing loyalty. As an example of a manager, A company CEO directs Wong, one of the companies up and coming managers, to hire enough new employees to provide the company with a customer service department. Wong undertakes his project with enthusiasm. He hires only those employees who can work the assigned hours, will accept the modest pay, and have experience working in customer service. He trains his new employees to perform the job to his expectations and assigns the employees to their new positions. Wong measures his success in terms of efficiency, calls handled per hour, and cost effectiveness, for example did he meet his budget?. However, Wong did not anticipate that of the employees he hired, only a handful would remain working six months later. Moreover, as an example of a leader, Ahmed obtains the same assignment as Wong. Ahmed hires employees that he believes he can develop a working relationship with, versus just those employees who will worked the assigned hours and take the modest pay. Ahmeds goal is to hire a diverse group of employees, some of who do not have any customer service experience, who he feels he can develop a personal connection. A large part of Ahmeds training involves team building, telling successful stories, and listening to each employees own desires for what constitutes a fulfilling job. Ahmed still assigns his employees their job duties and schedules at the end of training, and he also measures success in terms of efficient and cost effectiveness, but he also measures success in terms of low employee turnover, employee morale, and employee development. Ahmed feels proud when one of his employees obtains an advance level position a year or two after being hired. The skills to be a leader or a manager are not exclusive in nature. A leader who only displays leadership skills will be ineffective when it comes to checking time cards, completing employee reviews, and scheduling employee vacation time; things that employers require their managers to do on timely bases. Similarly, a manager who spends all his/her time completing paperwork and reading reports; only creates more problems for him or her because they lack a developing relationship with their employees. Many companies, one person may play the role of both leader and manager. In others, these roles are carried out by different people. And in many cases, the roles overlap and leaders need to manage and managers need to lead. However, it is critical that both roles are performed effectively for a company to succeed, especially a company with employees. Without a vision for the future, a company has no direction and no goals for which to strive. Good leaders are made not born. If you have the desire and willpower, you can become an effective leader. Good leaders develop through a never ending process of self-study, education, training, and experience. As a manager who would like to become a better leader to inspire your employees into higher levels of teamwork, there are certain things you must be, know, and, do. These do not come naturally, but are acquired through continual work and study. Good leaders are continually working and studying to improve their leadership skills. Leaders an d managers also have much different conceptions of work itself. Leaders develop new approaches to long-standing problems. Leaders work in high-risk positions because of a strong aversion to mundane work. Conversely, managers view work as an enabling process. Managers tolerate practical, mundane work because of a strong survival instinct that makes them risk-averse. They are good at reaching compromises and mediating conflicts between opposing perspectives, but lack the influence to avoid future conflicts. QUESTION 2: Identify two very different organizations that compete on a cost leadership strategy and explain how they do this, i.e. find out what they do that enables them to keep their prices low. The cost leadership strategic is to gain a competitive advantage. Make it into a simple word, cost leadership is reduce the cost to fight with their competitor in same industry. The organization who need to earn more profit, must reduce the cost to ensure they are not waste any resource. The cost who has reduce more, the company will gain more profit and easy to survive in the market share. Anakku Anakku as famous is selling the baby product. The company is celebrated 38th anniversary in Malaysia in 2011. Therefore, the company has their advantage to survive in this market. Anakku produce the baby products get it the mission is built on a strong, solid foundation of premium quality, safety and reliability. The product have been sell by Anakku are fashion-wear for babies and toddlers, feeding equipment, toiletries, diapers, accessories, strollers, playpens and more. Baby Kiko Creating style glamour, fun comfort for the little ones. Is the brand name of Baby Kiko. Baby Kiko is a brand extention from KIKO. Baby Kiko is establishing in Malaysia for over 20 years. Baby Kiko is one of the most widely recognized baby brand in Malaysia, known for quality, trendy style, and marketing creativity. The product that have been sell are toddler clothing, feeding accessories to weaning products, baby cleansing to baby skincare products. Cost Leadership Strategic Both companies have completed their cost leadership strategic, therefore, both company can survive in the market taking a long period time. Each of them has the plan to reduce the cost and increase their profit. Not even thought, both companies also using the Michael Portal 5 force to operate the companies. And they no using too much of advertising to promote their product, so that, the cost will follow decrease. Next, most of the products like cloth or accessories are make by them. The pattern and the design had been created, so, the companies will produce it with their own manufactory. Follow by this, both companies will try to reduce the damage of the product. They will make sure the product is good. The after-sales service is one of the parts they can do, and get the feedback from the customers, and get to improve better to the customers need. Within the Michael Portal 5 forces, First of all, the bargaining power of supplier. For the Baby Kiko Company, all the product are make by own, so that, the raw material of they used is direct from the manufactory, so the price of the product can easy to under control. An opposite, about the Anakku Company, some if the products like car seat or toys are manufacture from the supplies. Mostly, the Anakku Company will control by the supplier. But, for the Anakku Company, the main product for sell is clothing and the accessories like bottles, teethers, feeding accessories and etc. If the supplies increase the price, so they will change the supplier to get the raw material and try to product good product for their customers. Next, the bargaining power of customer or buyer is one of the forces that both companies used. The price had been set and the customers no have too much or no have power to argue to reduce the price. The entire product had been fix price, unless the company does the promotion like discount, so the customer will get the lower price of the product. Both companies have provided onsite service and after-sale service. And some of the product will give about 1 week to 1 year of warranty depend on the product. The threats of the entry of new competitor will also influence the cost. If got new competitor join into this industry, the company will spend more money to do promotion as like discount or adverting to attract people. This kind of money will increase the cost, so the profit will been decrease. Otherwise, both company had been survive in Malaysia taking a long period time, they have their own popularity in this country. For the Anakku Company, they mostly are produce the safety and useful product. The product no easy to damage and some of the product have the warranty to attract the customer to buy it. This is the advantage for them and no need scare about the new competitor to try to attack them. Besides that, the Baby Kiko Company more is based on the creative and innovative product to attract customers. The design and the fashion are new and look nicely. Based on the customers, they will take feedback and get the new the information to produce the product. Those are the advantage of the both companies; the new competitor does not have too much power and cost to survive. Other than that, the intensity of competitor rivalry it may also influence the cost. Take a basic word, who can get the lower cost, who will win in the market. Therefore, the company must have the power and the capacity to run the business. For Anakku Company, they have many branches in the Malaysia. It will easy to target market and the customers. Anakku Company as a wholesaler otherwise as a retailer. They retail the product directly to the customer, so that, the cost will not be too high to be taken. The technology of Anakku Company use is high-tech machine. According the above statement, the Anakku Company does not have too much of advertising. Running the business around 30 years, the popularity has the value on their customers. For Baby Kiko, they usually are wholesale to the stores that are really preferred to sales. Some hypermarket like Partson or The Store, we can see Baby Kiko product. Wholesale to other store, it can deduct the cost of employee and no need searching the place to run over the business. The customers who are prefer to sell the product, they will delivery it. It may reduce the cost with it. Not even that, Baby Kiko Company also though the internet to promote the product. One of the major website is Facebook to promote. It is free of charge and also can attract more people to know the new product. Other than that, the labour force it may influence the cost available. Anakku Company is more focus on the retail sale, so that, the employee will taking more and more, so the cost relative will increase. From the manufactory to the store, they are too many employees to work. But, the Baby Kiko no taking too much of employee, because they have using the technology like machine or wholesale to other seller. The cost taking is the transportation fee. At last, which companies keep the lower cost; it may easy and expand the business. Besides that, properly using the raw material and do not simply waste too much. Because the waste will direct influence the cost. Have a good plan of cost leadership, the company more easy to survive in the market share. Nursing Case Study: Osteoarthritis (OA) Management Nursing Case Study: Osteoarthritis (OA) Management Introduction Over 60% of adults in England suffer from a chronic health problem (Department of Health 2004). Osteoarthritis (OA) is among the most common chronic conditions, particularly among older adults, and is a cause of considerable pain and disability among affected individuals. The prevalence of OA has been estimated at 2.5% in the overall population, increasing to 12% among those aged 65 years and over (Wood 1999). OA is a complex condition with multiple risk factors of age, sex, overweight or obesity, genetics, and biomechanical factors (e.g. joint injury or occupational or recreational use). It is possible for OA to develop in any synovial joint but the spine, hip, knee, hands most commonly affected, either in isolation or in combination (Steven and Finlayson 2005). Typical symptoms of OA include joint pain, stiffness, limited movement, crepitus and swelling, and symptoms may be static, relapsing or progressive (Steven and Finlayson 2005). Structural changes within the joint may also oc cur in the absence of any symptoms. OA places a considerable burden on healthcare resources, with data published in 2002 showing this condition to be responsible for over 11 million GP visits and more than 114,500 hospital admissions (Arthritis Research campaign 2002). OA also impacts significantly on the economy. In 1999–2000, it was estimated that a total of 36 million working days were lost due to OA alone, resulting in  £3.2 billion in lost productivity (Arthritis Research campaign 2002). It is therefore important that OA is managed effectively in affected individuals. This paper discusses a patient that I have nursed with osteoarthritis and examines the effectiveness of their care in the management of this condition. Patient case history Mrs Smith is aged 78 years and lives independently in a two-storey house with her husband, aged 82 years, who is her main carer. She has osteoarthritis of the knees, hips and hands and also has hypertension and diabetes. She is taking four medications for these conditions. Eighteen months ago, she underwent emergency hospital admission for a urine infection. After being discharged from hospital, assessment showed her to be at an increased risk of repeated admissions due to her multiple pathology, polypharmacy and previous hospital admission. The care she had received prior to hospital admission was below standard and self-management of her condition was poor. Her GP referred her case management to a community matron who worked alongside a multidisciplinary team of healthcare professionals (I was a member of this team) and her husband to co-ordinate her care and help Mrs Smith reduce her risk of future hospital admissions. The community matron was involved in Mrs Smith’s progra mme of care for a total of two months, after which time co-ordination of her care was handed back to her GP. At the initial assessment, Mrs Smith was found to be experiencing high levels of pain which affected her sleep patterns and showed symptoms of depression. She also reported relationship problems. At present, her pain is being managed effectively through a combination of pharmacological and non-pharmacological interventions which include self-management; she reports normal sleeping patterns and shows no signs of depression. Her relationship with her husband has also improved and Mrs Smith is now no longer at increased risk of future hospital admissions. Managing individuals with chronic conditions The care and management of chronic conditions should address individual needs and expectations. The government has set Public Service Agreement (PSA) targets for improving outcomes for people with chronic conditions. These include reducing emergency bed days by 5% and increasing the number of older adults who are supported to live at home by 1% by 2008, from the 2003/4 baseline (Department of Health 2005). With the aim of meeting these targets, the NHS and Social Care Model was developed to help Primary Care Trusts (PCTs) and social care organisations improve care for individuals with chronic conditions (Department and Health 2005). From 2005, all PCTs are required to provide personalised care plans for those individuals who are most at risk. Initiatives such as the Expert Patient Programme are included in this model and will be discussed later. Providing high-quality care for older adults The NHS Plan set out a programme of reforms for the NHS (Department of Health 2000). Based on the underpinning principles of this plan, the National Service Framework for Older People was implemented to ensure that the needs of older adults are adequately addressed in these reforms (Department of Health 2001). This will be achieved by ensuring high standards of care are provided for all patients, improving access to care, and developing services which promote independence. The Essence of Care, published in 2001, sets out benchmarks for clinical governance covering eight areas of care which identify required standards for high-quality care and indicators for best practice (NHS Modernisation Agency 2003). NHS reforms have led to changes in the role of nurses, providing new opportunities for nurses to extend their existing roles, together with the introduction of new roles such as the community matron in the community setting and modern matrons in the hospital setting (Department of Health 2001). [Client: since we don’t discuss care in the hospital setting elsewhere, I haven’t discussed the role of the modern matron any further] This paper will examine the role of the nurse as part of a multidisciplinary care team in the care of Mrs Smith. Care and management of osteoarthritis in older adults The management of OA in adults becomes increasingly complex with advancing age (Holman and Lorig 1997). Since there is no cure for OA, the main therapeutic goals are to minimise the effects of the disease and over time. Effective care involves building long-term interpersonal relationships between healthcare providers and patients, carers, family members, other care providers, and those organisations involved in providing care and support. A holistic approach to assessment and treatment is required that considers the physiological, psychological and social needs of the individual in relation to their quality of life and daily activities (Salaffi et al. 1991). Both the National Institute of Clinical Excellence and the Royal College of Physicians have recently published guidelines for the care and management of osteoarthritis in adults (National Collaborating Centre for Chronic Conditions 2008; NICE 2008). The care of Mrs Smith will be discussed in the context of the recommendations ma de in these guidelines. Assessment The single assessment process for older adults was introduced in 2000 as part of the NHS Plan (Department of Health 2000). This requires an assessment of the individual’s health and social care needs to take place in a single assessment and was designed to standardise the assessment process and raise standards of assessment practice. During Mrs Smith’s assessment, her concerns, expectations and level of knowledge about her condition were discussed, together with the effect that her osteoarthritis had on daily activities including personal hygiene, climbing stairs, getting up from chairs, etc, and on her sleep patterns. Her levels of pain and mood were also assessed. Mr Smith also participated in the assessment, in order to gain his perspective on his wife’s condition and to establish how well he was coping as her carer, and also to identify any specific health need he might have. Further specialist assessment of Mrs Smith and her ability to undertake daily activi ties, together with an environment assessment, were undertaken by an occupational therapist. Mrs Smith’s level of knowledge about her condition was poor. Three other key issues were also identified during the assessment, namely pain management, depression/anxiety and relationship problems. Mrs Smith reported increasing pain in her joints, particularly her knees and hips prior to her admission to hospital which was so bad she was unable to sleep at night. The care she had been receiving prior to this had not effectively addressed this increasing pain. Screening and assessment showed Mrs Smith was suffering from mild depression. She reported feeling distress that she was no longer able to undertake many household tasks that she used to be able to do or participate in recreational activities with her husband that she used to enjoy. The increasing pain she had been experiencing prior to her hospital admission also contributed to her feelings of depression. She reported feelings of anxiety over fears that she may be made to leave her home as she could no longer manage to c limb the stairs. Mrs Smith showed negative feelings regarding her past care and was initially pessimistic about the likely effectiveness of the proposed treatment in the current care plan. Mrs Smith expressed concern that her relationship with her husband was suffering because her pain and lack of sleep made her irritable and short tempered. An additional factor compounding these problems was her husband’s poor hearing which served to make her more irritable. All of these issues are common among adults suffering from OA (Farmer et al. 2008), and is important that their care plans effectively address these needs. The nurse plays a pivotal role in the assessment of individuals with chronic conditions and it is important for the nurse to establish a successful therapeutic relationship with the patient and their carer(s) as early as possible in the process. Effective communication and building trust is central to this relationship and it is necessary to gain the perspective of both the patient and carer to develop a thorough understanding of individual needs. Development and implementation of a personalised care plan Empowering patients to take part in decisions regarding their care is central to the government’s health service policy agenda (Department of Health 2000). The empowerment of older adults is also addressed in the NSF for Older People (Department of Health 2001). Research suggests that patient empowerment may help to strengthen patient’s ability to self-manage their condition (Corben and Rosen 2005). It is also beneficial to involve families and carers in the decision-making process, with the consent of the patient. A personalised care plan was developed for Mrs Smith with the involvement of both her and her husband, which was tailored to meet her individual goals. This plan enabled high-quality, patient-centred care to be delivered via a multidisciplinary team of healthcare professionals which included her GP, nurse, physiotherapist, occupational therapist and community matron. Social services were also involved in providing additional support for both members of the co uple. Taking account of Mrs Smith’s multiple pathology and polypharmacy and the use of research-based evidence were both of major importance when developing this care plan. Interventions within the care plan and the individual roles of healthcare providers Non-pharmacological interventions The provision of education and advice and muscle strengthening exercises were the two core interventions in Mrs Smith’s care programme. Research has shown that patients frequently report better outcomes when they receive education and advice as this empowers them to become more involved in their own care and equips them with the knowledge and skills required for self-management (Holman and Lorig 1997). Educating both Mrs Smith and her husband about her condition and methods of self-management formed a key component of her care plan and discussions were primarily nurse-led. Encouraging self-management is essential for all chronic conditions and providing a framework for self-management is an integral aspect of care (National Collaborating Centre for Chronic Conditions 2008). The Expert Patients Programme (EPP) was introduced in 2003 following the success of the Stanford Self-management Programme in the United States (Department of Health 2006). Research which provides the rationale for this programme suggests that patients who have trained in self-management have greater confidence and use their skills and knowledge to improve their overall quality of life. These individuals subsequently require fewer healthcare resources, leading to long-term cost savings. Self-management courses are run trained by lay leaders rather than healthcare professionals. To date, the success of EPP in the UK has been limited compared with that of other rehabilitation programmes for chronic conditions (Bethell et al. 2007). A physiotherapist taught Mrs Smith to perform a series of gentle exercises to strengthen the supporting muscles around her knee which she was then able to perform on a daily basis by herself at home. An occupational therapist recommended a number of modifications to Mrs Smith’s home to make performing daily tasks easier. These included the installation of a raised toilet seat and wall bars in the bathroom. The occupational therapist also arranged the provision of shock- absorbing shoes to help reduce the pain in Mrs Smith’s knees and hips. Due to Mrs Smith’s limited mobility, opportunities for visits outside the home were restricted. However, social services arranged for both members of the couple to attend weekly bingo sessions at their local community centre which provided the opportunity for social interaction with other older adults which both members of the couple found beneficial. Pharmacological interventions Oral paracetamol and the use of topical NSAIDs for the knee were prescribed for Mrs Smith. Paracetamol and topical use of NSAIDs are the currently recommended first-line treatments for knee OA (NICE 2008). Paracetamol alone was not sufficient to control Mrs Smith’s high levels of pain in her knees. Since her antihypertensive medication was a calcium channel blocker, the use of NSAIDs were not thought to be contra-indicated and were unlikely to show drug interaction with her other medications (Luque et al. 2006). Following discussions with Mrs Smith, a decision was taken not to prescribe anti-depressants initially but to monitor her symptoms of depression and revise her care plan if necessary. Throughout Mrs Smith’s programme of care, the role of the nurse involved making regular home visits to assess Mrs Smith and her husband. Monitoring the effectiveness of the interventions implemented is essential if the goals identified within the care plan are to be achieved. Regular reviews of the care plan should be made and changes made as required based on the outcome of ongoing assessments. Prior to the involvement of the community matron, Mrs Smith’s GP practice was responsible for co-ordinating her care. The community matron is a relatively new clinical specialist position within the NHS, introduced specifically to provide support for people with long-term complex conditions (Department of Health 2004). Working alongside GPs, community matrons perform various roles which enable patient’s need to be met within the community rather than in hospital (Bassett 2005). The role of the community matron in this instance was in short-term case management. Addressing the carer’s needs Evidence suggests that the health needs of carers are frequently overlooked (Hare 2004). It is also important that carers receive adequate support as feelings of isolation and being unable to cope are common (Department of Health 2004b). Mr Smith’s health needs were assessed during the initial assessment and addressed accordingly. Mr Smith suffered from angina for which he was already taking medication, and poor hearing. A follow-up specialist assessment of his hearing identified the need for a hearing aid which he received. The health of both patient and carer was then assessed by the nurse during subsequent home visits. Success of the care programme Mrs Smith’s care programme had a successful outcome. Her symptoms of depression reduced and her relationship improved once her pain was being managed more effectively and she was able to sleep better. Her mobility improved and confidence increased such that she was able to start taking short walks outside her home with her husband. She was also able to undertake more tasks within the home. Education about her condition led her to realise that OA is ‘not the end of the world’ and that life can still be enjoyable, provided her condition continues to managed effectively. Mr Smith also received support from the healthcare team which helped to re-enforce his role as her main carer and extend his knowledge about his wife’s condition, which better equipped him to care for her effectively. Mrs Smith’s care was delivered using the appropriate frameworks for older adults and those with chronic conditions and was in line with current management guidelines. Osteoarthritis and ageing OA is more common among older adults and will therefore frequently co-exist with other age-related comorbidities such as cardiovascular disease, diabetes and hypertension, as demonstrated in the case of Mrs Smith. Because of this multiple pathology, polypharmacy is common and drug regimens are often complex (Gorard 2006). Polypharmacy may increase the risk of drug-drug interactions and drug-related adverse events. In some cases, drug-drug interactions may counteract the effect of a particular drug (Cotter and Martin 2007). For example, if beta-blocker or angiotensin-converting enzyme inhibitor antihypertensives are co-administered with non-steroidal anti-inflammatories (NSAIDs), the hypotensive effect of these drugs may be reduced due to sodium retention by the NSAID (Luque et al. 2006). Furthermore, older adults may also consume over-the-counter preparations (e.g. vitamins and analgesics) which also have the potential to interact with prescription drugs. Age-related changes in both drug pharmacokinetics and pharmacodynamics may be observed, and increased drug sensitivity may increase the risk of drug accumulation and toxicity in older adults (McGavock 2006). Other factors which should also be considered when prescribing drugs for older adults are (1) cognition – whether the patient is able to understand and follow their treatment regimen; (2) vision visual impairment may prevent them from being able to identify their tablets correctly; (2) ability to swallow or fear of swallowing – some patients may be unable to swallow large tablets or may be afraid to do so for fear of choking. It is therefore very important to ensure that a full drug history is taken for every patient and other relevant factors are also taken into account. Ethical and legal issues in the management of chronic illness NHS funding for individuals with chronic illness has been the subject of considerable controversy in recent years. Advances in medical technology have allowed healthcare providers to considerably prolong the life of many individuals with chronic conditions and this ability, coupled with the increasingly ageing population, have presented an unsolved dilemma of how to provide comprehensive care with limited resources (Waldron 2006). Until recently, some patients have been caught up in a so-called ‘postcode lottery’ whereby drugs and services may be available to individuals living in one region of the UK, but not another. This is considered by many to be against the founding principles of the NHS which was introduced with the vision of providing free medical care for all (Donnelly 2008). While it must be acknowledged that at the time of its conception sixty years ago, no one could have predicted the extent of future increases in population size within the UK, or the shift t owards an increasingly ageing population which have placed an ever increasing burden on services ill-equipped to meet demand. Nonetheless, regardless of the extent of available resources, these should be distributed fairly to all within the population regardless of location or any other factors. Living wills are an issue which may concern individuals with chronic conditions, particularly those receiving end of life care. There may be circumstances in which some individuals may not wish to receive life-prolonging treatment and it is important that decisions and choices regarding their care can be communicated to care providers if they themselves are unable to do so. Allowing individuals to refuse life-prolonging treatment may be viewed by some as a step towards euthanasia which considers the right of an individual to choose when and how to die and which has been the subject of intense debate for a number of years. The NSF for Older People (Department of Health 2001) addresses some of the ethical issues surrounding the care of older adults, in particular infringement of their dignity and unfair discrimination in access to care. This framework includes standards for (1) reducing age discrimination, ensuring that NHS services are provided on the basis of clinical need and that social services do not use age as a barrier to restrict access to services; and (2) treating older adults as individuals and allowing them to become involved in decisions regarding their care (i.e. promoting patient empowerment, as discussed previously). The Evercare programme also addresses the right of older adults to receive high-quality patient-centred care. This programme was introduced in the UK in 2003 after demonstrating success in the United States. It is designed to improve care for older adults who frequently have multiple pathologies and social problems, who may be receiving poor care, and who are often admitted to hospital as emergency admissions for reasons that may have been preventable with higher standards of care. Those patients at highest risk of future hospital admission are identified for enrollment in the programme. A role of the community matron would be in identification of those individuals who may be benefit from this programme and in their case management. The principles of the programme include the provision of personalised, holistic care aimed at promoting independence, comfort and improved quality of life, and avoiding adverse effects of polypharmacy. Conclusions The management of chronic conditions such as OA presents a greater challenge in older adults with multiple pathologies, where successful outcomes may be dependent on a number of co-morbidities. The need for a full understanding of drug-drug interactions and age-related physiological changes is essential for accurate drug prescribing in this group of patients where polypharmacy is common. Effective management of Mrs Smith’s condition was achieved through a combination of self-management and health and social care. Effective care involved a holistic approach to assessment and treatment from a multidisciplinary team of health and social care providers. Within this team, nurses played a pivotal role in the community setting (and were also involved in providing care in hospital setting during her hospital admission). There are a number of ethical and legal issues surrounding the care and management of chronic conditions, particularly in older adults where age discrimination and infringement of dignity have been highlighted as widespread problems. Initiatives such as the Evercare programme have been implemented to address these issues but their success has yet to be demonstrated on a national level. Bibliography Arthritis Research Campaign 2002, Arthritis: the big picture. Arthritis Research Campaign, London. Bassett, S. 2005, Community Matrons: Improving the care of patients with long term conditions, Modernisation Agency. Bethell, H. J. N., Evans, J. A., Turner, S. C., Lewin, R. J. P. 2007, ‘The rise and fall of cardiac rehabilitation in the United Kingdom since 1998’, Journal of Public Health, vol. 29, pp. 57–61. Corben, S. Rosen, R 2005, Self-management of long-term conditions: patients’ perspectives on the way ahead, King’s Fund, London. Cotter, L. E. Martin, U. 2007, Student British Medical Journal, vol. 15, pp. 337–82. Department of Health 2000, The NHS Plan: a plan for investment, a plan for reform. Retrieved 25th July 2008 from: http://www.dh.gov.uk/en/Publicationsandstatistics/Publications/PublicationsPolicyAndGuidance/DH_4002960 Department of Health 2001, National Service Framework for Older People. Retrieved 25th July 2008 from: http://www.dh.gov.uk/en/Publicationsandstatistics/Publications/PublicationsPolicyAndGuidance/DH_4003066 Department of Health 2001, Implementing the NHS Plan – modern matrons: strengthening the role of ward sisters and introducing senior sisters. Retrieved 25th July 2008 from: http://www.dh.gov.uk/en/Publicationsandstatistics/Lettersandcirculars/Healthservicecirculars/DH_4004789 Department of Health 2004, Chronic disease management: a compendium of information. Retrieved 25th July 2008 from: http://www.dh.gov.uk/en/Publicationsandstatistics/Publications/PublicationsPolicyAndGuidance/DH_062820 Department of Health 2004, The NHS Improvement Plan: putting people at the heart of public services. Retrieved 25th July 2008 from: http://www.dh.gov.uk/en/Publicationsandstatistics/Publications/PublicationsPolicyAndGuidance/DH_4084476 Department of Health 2005, Supporting people with long term conditions. An NHS and social care model to support local innovation and integration. Retrieved 25th July 2008 from: http://www.dh.gov.uk/en/Publicationsandstatistics/Publications/PublicationsPolicyAndGuidance/DH_4100252 Department of Health 2006, The Expert Patient Patient’s Programme. Retrieved 25th July from: http://www.dh.gov.uk/en/Aboutus/MinistersandDepartmentLeaders/ChiefMedicalOfficer/ProgressOnPolicy/ProgressBrowsableDocument/DH_4102757 Donnelly, L. 2008, NHS at 60: a vision which we still believe. Retrieved 25th July 2008 from: http://www.telegraph.co.uk/news/uknews/2171506/NHS-at-60-A-vision-in-which-we-still-believe.html Farmer, A., Korszum, A., Owen, M. J., Craddock, N., Jones, L., Jones, I., Gray, J., Williamson, R. J., McGuffin, P. 2008, ‘Medical disorders in people with recurrent depression’, The British Journal of Psychiatry, vol. 192, pp. 351–5. Gorard, D. A. 2006, ‘Escalating polypharmacy’, Q J Med, vol. 99, pp. 797–800. Holman, H. Lorig, K 1997, ‘Overcoming barriers to successful aging: self management of osteoarthritis’, Western Journal of Medicine, vol. 167, no. 4, pp. 265–8. Luque, M., Navarro, A., Martell, N. 2006, ‘Use of non-steroidal anti-inflammatory drugs does not modify the antihypertensive effect of lercanidipine in essential hypertension’, British Journal of Cardiology, vol. 13, no. 5, pp. 353–9. McGavock, H. 2002, ‘The scientific basis of prescribing in the elderly’, Prescriber, pp. 86–9. NHS Modernisation Agency 2003, Essence of care. Patient-focused benchmarks for clinical governance. Retrieved 25th July 2008 from: http://www.dh.gov.uk/en/Publicationsandstatistics/Publications/PublicationsPolicyAndGuidance/DH_4005475 National Collaborating Centre for Chronic Conditions 2008, ‘Osteoarthritis: national clinical guideline for care and management in adults’, Royal College of Physicians, London. NICE 2008, Osteoarthritis. The care and management of osteoarthritis in adults. Retrieved 25th July 2008 from: http://www.nice.org.uk/nicemedia/pdf/CG59NICEguideline.pdf Salaffi F, Cavalieri F, Nolli M. 1991, ‘Analysis of disability in knee osteoarthritis. Relationship with age and psychological variables but not with radiographic score’, Journal of Rheumatology, vol. 18, no. 10, pp. 1581–6. Steven, M. M. Finlayson, D. 2005, ‘Management of osteoarthritis’, Journal of the Royal College of Physicians of Edinburgh, vol. 35, pp. 246–9. Waldron, N. 2006, ‘Funding decisions in chronically sick individuals’, British Journal of Nursing, vol. 15, no. 9, pp. 286–91. 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Los Vendidos Essay

Los Vendidos means the sell-outs. All the characters in the play sold-out at some point during the play. The characters sold out both their races and their way of life. I would say that the person who sold out the most was the Mexican-American because he sold-out both his Mexican, his American heritage and way of life. He wanted to be perfect, so when he found that the Americans and the Mexicans had their flaws he sold them out. He now has to search for a new and perfect race to identify with. (He will be searching for a while. ) The Mexican- American sold out his Mexican Heritage when he said, â€Å"The problems of the Mexicans stem from one thing alone he’s stupid, he is under-educated, he needs to stay in school. He needs to be ambitious and be forward looking, most important he needs to think American† (Page 382). In his statement he is only finding the bad of his people and stating it for the entire room to hear. He shows great disrespect for the Mexican heritage by saying all that is wrong with them. He shows their flaws, weaknesses, and imperfections. I believe your heritage makes up who you are and that is you, so you should never disrespect yourself by disrespecting your heritage. I believe thee way he sold-out was by disrespecting his heritage. the Mexican- American is still trying to decide weather he is going to live Mexican or American. When the Mexican-American says, â€Å"The only thing I don’t like is how come I always got to play the goddamn Mexican-American†(Page-384). You are unsure by this statement weather he is selling-out his Mexican or his American lifestyle. You know he wants to perfect because of his attitude toward playing the part of the Mexican-American. The Mexican American doesn’t know where he wants to go in life I guess this proves no matter how old you are or how much of an education you have you sell people out and walk all over them. Even if it is a person you know or need all that does not madder if you are a sell-out. You will hurt people to get what you want for yourself. The Mexican American is soon going to find he will never find perfection and he will be lost with no friends because of all the people he sold-out. The Mexican- American and his buddies need to set goal or all they will have to talk about is being sell-out with no friends.

Effects of Communication Essay

The organization that I chose is DeVry Inc. Specifically, I chose DeVry’s online student finance department because I am currently employed in this department. I started here as a Student Finance Consultant in July of 2012 and this is my first full time job after college. In my role, we assist student’s enrolling in courses and help plan how to fund their education. This job can be very satisfying yet frustrating at the same time. I feel that it is a great learning environment and overall, employee satisfaction is high. I feel that my position plays an important role in a student’s life as well as a critical part of the business. DeVry University is an accredited institution that offers a variety of programs to students across the world to pursue an associate’s, bachelors and even master’s degree. DeVry has over 90 locations across the United States and Canada to service students in several areas. In addition, for students who may not live near a campus, DeVry offers an online classroom that gives students another flexible option. In this examination the focus will primarily be with the online division. The online division offers a non-traditional way for students to pursue a degree. It allows working adults, busy parents and a variety of others to attend class on their own time. Threaded discussions allow students to interact with one another, comparable to a classroom setting, but students can participate when they are available. I no longer feel as though my role is important, in fact, advisors in this department often refer to themselves as â€Å"mignons† or â€Å"at the bottom of the feeding pole.† The work that I do now feels unnecessary and irrelevant. The morale throughout the entire department is low. Instead of trying to be satisfied with our positions, we are trying to find ways to be less dissatisfied. Themost unfortunate part is that I have only been here for 9 months, 1 month which was spent training. The work that we do now is all about meeting numbers, hitting goals, and extra paperwork. It is no longer about taking responsibility for student’s accounts and trying to find the best solution. Instead it is about answering as many phone calls as possible and making sure you hit all points on your â€Å"script† while on a call. As I stated before, the department as a whole feels as though we are on the bottom. Part of the reason is that we do not feel that we receive the respect that we deserve. We are given minimal notice of changes that are effective immediately. These changes affect the goals we have to meet and the processes we have to follow. In addition, most changes that are made do not provide enough information that we feel comfortable to advise to students. Problem Statement: The organizational problem that I would like to research is communication within our department. I would like to resolve the lack of communication that I often see within my role. We work with online students, therefore, we do not meet with anyone in person; communication is all through phone and e-mail. We communicate with students to help answer questions, provide support and make sure their finance account is organized and accurate. I often see that not being able to speak with students face to face can make communication efforts difficult. Especially when communicating through e-mail because not being able to see the person or hear the tone of their voice can allow for misinterpretations with students and especially within departments. Student Finance works closely with admissions and academics and I believe there is a lot of room for improvement with our communication skills. Our primary goal is to help the students and I have found recently, that goal is becoming less important. There is also a lack of communication to students. Often times students call in regarding an email they received, however, advisors have not been made aware than a standardized e-mail had been generated. For example, there were 8000 e-mails that were sent out to students that needed to submit documents. Although it was necessary for students to send in these documents, many of them had questions. There was not adequate phone coverage to be able to assist all students who had received an e-mail. Students become frustrated that they have to sit on hold for thirty minutes while waiting for an advisor and once connected to the advisor they may not receive as detailed information as they would prefer. In addition, advisors become frustrated with management that they were not informed of the messages that were relayed to students. â€Å"Things happen in organizations because people working individually and in groups make them happen; people make the difference† (Schermerhorn). This can be both positive and negative. The lack of communication happens because people neglect to put in the work to make a difference and improve communication. In addition, the lack of motivation from disgruntled employees causes lack of work as well. However, if these problems were resolved and increase satisfaction among employees it could create ambition for employees to make difference in how they perform their duties as well. I feel that there are improvements that can be made that can rectify the situation the Student Finance department is currently in. I feel that one of the most important changes needs to be in communication. The way that we communicate within the department as well as how other departments communicate between one another needs to improve. Although there are aspects of the job that are less than appealing, I think the main obstacle that needs to be tackled is the way we communicate. For the course project I will be concentrating on the communication process that is instilled in this department and how it affects achieving goals as well as employee satisfaction. Literature Review: The lack of communication that is throughout the DeVry Student Finance Department is an issue that can be resolved, and should be resolved. â€Å"Mistakes are common in business and can lead to negative repercussions for organizations† (Bolkan, San, John A. Daly 2009). The lack of communication is not intentional, but does have a negative effect. If not corrected, some of the negative effects may have a continuous cycle rather than being resolved. Repercussions that may result from mistakes made within an organization are a high employee turnover rate, and dissatisfied students. Lately, employees have begun leaving DeVry as early as two weeks of employment. Some employees that have been there longer relocate into a different position within DeVry, and others that leave sooner leave the company altogether. This has a negative effect since it takes time to train employees, and by the time the department finishes training one new-hire group, previous advisors have already left the position. Instead of having full teams of ten advisors, each team has on average seven. In addition, the lack of communication becomes a problem for students when they become dissatisfied. Students may choose to not enroll with DeVry again and quit school completely, or transfer to a competing school. Also, students who are not happy with the school they are attending may tend to have negative review comments. As a corporation that is looking to expand, DeVry should want only positive feedback from students. â€Å"Communication is absolutely critical for achieving success, but is it something that is often lacking† (Williamson 2010). In order for DeVry to successfully expand, there has to be effective communication to the student in order for students to be satisfied. In addition, if DeVry expands, there will be a need more for employees, if there is a high turnover rate it would be difficult to provide the quality service that DeVry stands behind. Analysis: The lack of communication is an error on numerous ends. One of the main reasons the problem has not been solved is that management may not be aware of the severity of the problem. Blame cannot be placed on management if management is not aware that a problem exists. Due to circumstances that had been a cause of lack of communication, management should be aware that there is a problem but may not be aware of where the problem lies. For example, there is a high turnover rate due to employee dissatisfaction. This is prominent in the department. However, what is vaguer is why employees are dissatisfied. One of the main reasons is the lack of communication. Not only does management not effectively communicate changes and information, but also does not welcome communication coming from advisors. Input is not welcome when discussing possible changes. Without listening to input from advisors, management is unaware of the problem. They may be under the impression advisors are dissatisfied with the changes that are being made, rather than how the changes were communicated to them. Advisors feel that when they are able to comment on decisions, their voices are not heard. Their input may be received but their opinion was not listened to. Currently, there are processes in place that are supposed to address concerns of employees. However, it is ineffective since concerns are heard but not listened to. In addition, this provides more frustration to advisors. They are voicing their concerns but concerns are not being addressed or even acknowledged. This essentially becomes a â€Å"dead-end.† Not having a forum that an advisor can express concerns and be accounted for increases dissatisfaction among employees. As discussed in class, dissatisfaction can be related to employee motivation. It is assumed that employees who have a more d issatisfaction are less motivated (Schermerhorn). The lack of satisfaction not only affects one’s professional life, but can also affect one’s personal life as well. Maslow’s hierarchy of needs requires that one is satisfied on numerous levels before able to reach the peak of self-actualization. First, one must meet physical needs, in order to meet these needs, money is required. A job can provide a paycheck which would help fulfill meeting physical needs of food and shelter. However, if you are only working at a job to meet the lowest level, you will never reach full satisfaction. In addition, if the job makes you unhappy it can affect your emotional state and well-being. A job may not fulfill emotional value, but a job that affects it negatively can prevent one from moving up on Maslow’s scale. Previously, the focus was on lack of communication between management and advisors; however, there is also a lack of communication between advisors. Academic advisors and finance advisors do not often communicate effectively. Consideration is not taken that different departments may have different guidelines and policies. This issue can be frustrating for advisors, but has more of an effect on students. Since students utilize both departments to guide them through their education they feel let down if they receive conflicting information. This can cause conflict between departments. Conflict can be advantageous when advisors are able to learn from one another and gain insight on the other’s position. However, conflict can also cause tension and confusion. If not dealt with properly, conflict can affect both advisors and students. Solutions: The first part of solving this problem is to make the proper audience aware that there is a problem. â€Å"One key for effective communication is knowing your audience, along with what kind of information it prefers† (Scheeres). The lack of communication between management and advisors needs to be brought to the attention of management. While doing so, it is important that it is addressed in a way that management does not see as complaining. Instead it is important to portray opinions in thoughts in a professional manner and also be able to include how improving communication can be beneficial to the organization as a whole. These ideas have to be well thought out and fully developed. â€Å"Effective communication doesn’t have to take extra time but it does demand greater awareness† (Gunn and Gullickson, 2008). Initially it makes take time to express concerns, but one’s awareness has been brought to the attention of the audience, it does not require additional work on their part. For example, communications can still be sent via e-mail, however, when they send the e-mail should be taken into more consideration. Another way to address the communication issue is to allow employees an outlet where they can express concerns and have them be addressed. This could even be anonymous. Advisors could write concerns and place them somewhere where management could have access to them. These issues do not have to be addressed daily, but possibly in a newsletter issued monthly. This solution may require additional time but could also increase employee satisfaction if they feel their concerns are being addressed. Again, an increase in satisfaction can also increase employee motivation. Recently, a survey was distributed to DeVry Student Finance Department to rate their overall satisfaction and engagement. After receiving results from this survey it was brought to management’s attention that there were underlying issues that needed to be addresses. This was an effective way to listen to the concerns of numerous advisors. It would be useful to send various surveys addressing different concerns. It would also be useful to have employees retake the exact survey six months later to determine if improvements have been made. If improvements are not made management may then want to reconfigure their communication process. Reflections: As an advisor in continuing student finance it has affected development professionally, personally and academically. Professionally, it has decreased my motivation to go above and behind what is expected of me. For a short period of time, it resulted in me meeting my weekly goals and not desiring to go beyond what is asked. In addition, it also caused me to look into other job opportunities that do not challenge me. Fortunately, I continued through the struggles and am now looking at ways to improve my position. Instead of looking at the negative aspects of the position I try to focus on what I like about the job. I enjoy the team that I work with and enjoy being able to work with students. When I am able to provide assistance that the student is asking for it can be a rewarding experience. Unfortunately I do not feel that I am able to reach my full potential in this position, but am trying to excel in the position to better myself and eventually use the skills I learn to apply them in another position that may challenge me further. Previously, I felt intense dissatisfaction with my job. Since it was something I had to deal with on a daily basis it affected my personal life as well. At first I felt dissatisfaction in both professional and personal aspects of life. For eight hours a day I have to be somewhere that I did not enjoy. This carried outside of the workplace and caused dissatisfaction outside of work as well. Eventually I was able to reevaluate the different aspects in my life and make adjustments. When I was dissatisfied at work, I learned to over-compensate satisfaction in my personal life. I knew that while I work I would not be happy and therefore was determined when I was not at work I would fulfill my time with activities that would help increase my satisfaction. This included spending more time with friends and family that I was previously neglecting since I was bringing my dissatisfaction from work home with me. For me, my academic development was also affected. This was in large due to the fact that I am attending school that is related to work. It was hard to leave work and DeVry and want to come home to do work for Keller. Once I left work I wanted to leave anything involving DeVry behind. This gave me a negative view on school and caused me to avoid putting forth the effort I should have been. Eventually I started to take a different outlook on school. I knew it was a way that I could better myself and it was something that I could do in my own time. I enjoy school and learning and needed to be reminded that it was for me and not for work. In addition, I was also able to recognize that by learning more I can learn to deal with difficult work situations in a way that does not affect my (dis) satisfaction. By improving my skills and knowledge it may also qualify me for different positions that I may not have been eligible for previously. Evaluating the lack of communication within the department I work in has allowed me to evaluate how I communicate with others also. In addition, it has displayed how professional and personal life can coincide with one another. In addition, it has also inspired me to make changes not only in how I communicate, but how others communicate with me as well. By bringing awareness to others, it may increase the effectiveness of how we communicate with one another. By increasing effective communication employees are able to grow individually and the organization has the support to grow as a whole. References Communication is a Two-Way Street. Asian Social Science; Mar2010, Vol. 6 Issue 3 Devry University. Retrieved from http://www.devry.edu/whydevry He said, She Said. Strategic Finance, 89(7), 11-12. Gunn, R., and Gullickson, B. 2008. FAFSA: Student Aid on the Web. http://studentaid.ed.gov/PORTALSWebApp/students/english/aideligibility.jsp Interdepartmental links priceless for sterilization success. Healthcare Purchasing news, 34(1),36. Williamson, J. 2010. Learning the Language. By: Scheeres, Junell Listening: A Concept Analysis. By: Shipley, Sheila D. Organizational Responses to Consumer Complaints: An Examination of Effective Remediation Tactics. By: Bolkan, San, John A. Daly, Feb 2009, Vol. 37, No. 1 Organizational Behavior, Tenth Edition. By: Hunt, Osborn and Schermerhorn. When Work and Love Mix: Perceptions of Peers in Workplace Romances. By: Chory, Rebecca M., Sean M. Horan, Nov/Dec 2009, Vol. 60, No. 5

How to Start a Writing Group

How to Start a Writing Group How to Start a Writing Group How to Start a Writing Group By Mark Nichol This is the second post on our series about writing groups. The first one is 5 Reasons to Start a Writing Group. You’ve determined to seriously pursue a writing career, but you feel like you need support and feedback. Although you joined a couple of writing groups, you dropped out of each one because the fit just didn’t feel right. What do you do now? Start your own group, of course. 1. Compose How many members do you want? What level of experience should they have? Should all members be writing for the same market? It’s best to start small (up to half a dozen people), seek people with similar experience levels (writers with one or more published short stories, for example), and select others writing in the same genre or niche and working in the same form, whether short stories or novels as you are. The closer the skills and interests of group members, the more productive it will be. (But be flexible about demographic details such as gender and age.) 2. Propose Design a simple but informative flyer. Specify the details about ideal group composition you have decided on, pick a day and time for regular meetings (the most frequently recommended meeting duration is two hours), and provide contact information. Print copies and post them, but be discriminating: Target writer habitats such as bookstores (especially those that sell used books), cafes, and schools, and avoid blanketing general-purpose bulletin boards. 3. Screen Briefly interview people who contact you. Tell them you’ll check back after you’ve lined up the number of people you want to start with. Take notes and, immediately after the call or email exchange, evaluate them with a simple yes, maybe, or no and perhaps a couple of notes to remind you why you assigned that grade (â€Å"sincere asked about my writing†; â€Å"insecure? but good fit,† â€Å"arrogant†). If a â€Å"no† persists in trying to join, tell them, â€Å"I’m looking for people who aren’t yet quite at your level† or â€Å"I have the number I want, but I’ll keep you in mind if someone drops out.† 4. Form When you have enough â€Å"yes† candidates, consider adding a couple of strong â€Å"maybe† prospects in case one or two people drop out; if you have more defections later, you can always recruit others or disband and start again. If three of you work well together but don’t feel comfortable continuing with one or more of the others, break up the group and start over with that cooperative core. But take care to avoid acting like a clique, and be diplomatic. 5. Locate Choose a setting and stay with it. If you plan to host at your home, stick to that location rather than rotating among everyone’s domiciles. Better yet, meet at a local library (some have small meeting rooms available for just this type of purpose) or a community center, or a quiet cafe. 6. Schedule Contact and confirm your finalists, and if anyone backs out, keep recruiting from the â€Å"maybe† list or from new candidates. Set up the first meeting; if the day and time doesn’t work for someone, jot down their preference and bring it up when the rest of the group convenes for the first time. If the alternate day and time is equally convenient for everybody, consider switching for subsequent meetings. If not, wish the person good luck in finding a group that meets at a better time for them. 7. Assign Ask members to bring an excerpt from a current project something that will take five minutes or less to read so that others will have an immediate grasp of everyone’s skill and style. Next up: How to conduct writing groups. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Writing Basics category, check our popular posts, or choose a related post below:Apply to, Apply for, and Apply withStory Writing 10150 Plain-Language Substitutions for Wordy Phrases

role media plays in todaysoci essays

role media plays in today'soci essays THE ROLE MEDIA PLAYS IN TODAYS SOCIETY Lets stop the violence by Turning off the Media Violence in our own homes. Stop a moment and think about how television, movies, and video games affect childrens behaviors. In the aftermath of the World Trade Center tragedy, Ive reflected about stories Ive heard: how a four years old cheered when he watched the repeated footage of the plane flying into the building; how a seven year old told his schoolmates, "It's okay, it's only TV." I believe it's time to step up our actions and become more vigilant in tuning out violent and biased programming... programming that our kids watch and emulate. The wrong use of media affects children's cognitive, emotional and social development? No electronic medium's effects are all good or all bad; it's the content that makes all the difference. Many of us overlook how profoundly television impacts children. American children spend more time watching television during their school-aged years than they spend in school. More than 15,000 hours of television compared to 11,000 hours in the classroom. During this time, children watch more than 200,000 acts of violence, including 15,000 murders!!! The recent violence in schools has made safety the number one concern of parents and everyone is concerned about the causes of violence. Most exposure to television by infants and toddlers is actually exposure to programs being watched by someone else; noting that in many homes the television is on so much it becomes part of the home environment. Television is implicated repeatedly for its role in presenting negative role models. The questions are; where do we begin? How can we make a difference? What can we do? We can begin by changing things in our own homes and in our own communities. We can also influence the use of media education in the society. The same goes for what we listen too; especiall y the music of today. Of course...

A CRITICAL REVIEW ON SURVEYS OF VALUE-BASED MANAGEMENT Research Paper

A CRITICAL REVIEW ON SURVEYS OF VALUE-BASED MANAGEMENT - Research Paper Example VBM has come to replace them all as a better management technique (Brigham, and Houston, 2009). though there is still something that cannot be taken for granted in any such novelty, i.e. the degree of efficacy in real world business contexts. It’s all the more imperative to consider this sudden spurt of interest in VBM as against profit-based approaches that were hitherto adopted by both small and big companies in order to measure financial performance of the company (Brigham, and Ehrhardt,2007). According to those vociferous critics of the method this annual ritual has had very little success by way of a system of acceptable metrics that truly demonstrated real or discounted cash flows of the company. Such palliatives are to be abandoned now and a more realistic system of metrics based on verifiable and measurable concepts ought to be adopted. It’s here that VBM comes as both a reliable tool and a systematic approach. Capital structure of the firm as divided into equity and debt has been of little significance to an outsider except for an investment consultant and a professional investor because the bewildering system of metrics doesn’t mean anything to the layman. This particular instance of failure associated with many other approaches to management has oft been cited as one of the very sound bases for a new management approach by critics. Thus the concept of VBM has come handy in this context too, owing to the fact that orthodox management approaches are all none too well defined to include performance related dynamics (Copeland, and Dolgoff, 2005). In other words capital must be invested in the business only when its rate of return exceeds the cost of it. Value parameters of VBM are quite well defined to include such variables as tax exemptions on capital investment and the corresponding value gains in alternate investments. Net returns on investment ought to be predictable and therefore uncertainty

Pursuing a PhD Degree in the Information Technology Field Essay

Pursuing a PhD Degree in the Information Technology Field - Essay Example I am prepared to take the next step, in order to fulfill my need to better myself. A part of me wants the Ph.D. because it is the highest degree obtainable. I thought having a Masters would satisfy my need to be the best, but that was not to be. I now know that having a Ph.D. is the real pinnacle of academic success. Having a prestigious degree will take me to the next level in my professional and academic career. One of my life goals is to leave the next generation with a belief there is no substitute for hard work and education. Lifelong learning enriches our lives and the lives of those around us. There is so much to learn, but so little time to learn and share knowledge. I have been furthering my education most of my adult life. I have been working as a technologist for more than ten years. In that time I have had the pleasure of becoming acquainted with many outstanding instructors and mentors. One such mentor is a co-worker who has an uncanny capacity to not only understand complex issues but the ability to share with me the complex solutions. I credit his mentoring with teaching me that having the answers is only part of the equation. The lesson learned from this mentorship impacted the way I now interact with students in my online classes and when interacting with other IT professionals. In reflection, I would credit the way in which my partner did not judge my lack of talent, but took a genuine interest in my future success as an IT professional. Anyone else might have seen my lack of expertise as a sign of weakness and exploited me to advance their career, but his patience carried me through. The positive impact that my co-worker had on my life, allowed my IT career to flourish. This taught me a valuable lesson on what it takes to be a mentor to someone who has the potential of becoming an information technologist As a networking consultant, how I explain technology to a customer is often the difference between getting to the next  level and not getting anywhere at all.   Being an online instructor is much the same way.   Both come down to being a good mentor.