Thailand's Economic Development and Growth Research Paper

Thailand's Economic Development and Growth - Research Paper Example The research strategy is mainly deductive in nature. The findings from this paper suggest that Thailand has experienced a steady surge in the GDP over the years. There has been positive impact of this growth on the social factors like, level of literacy, conditions of Health and finally, the impact on poverty of the nation. This work has identified two areas of shortcomings for Thailand to improve: it has to focus on the quality of secondary education and reduce the inequality of income between the rich and the poor. Thailand has been a success story and the policies followed by it have been taken as a lesson for other developing economies to follow. Thailand’s incredible growth has put it in the league of the other Asian tigers. This work has found out that the regional pockets of poverty in Thailand needs serious attention from the Government. The government must follow inclusive growth policies to include the poorest of the poor into the formal structure of the labor market in order to reduce the income inequality. Introduction The economic progress witnessed by Thailand is perhaps one of the most interesting economic development literatures that continue to interest economists all over the world. Such in fact has been the pace of growth of Thailand’s economy, that in a recent study by the World Bank, Thailand has been upgraded to the status of a high middle-income economy from a low middle-income one in 2011 (The World Bank, 2013). So, the pertinent question revolves around the wide economic changes during the period of 1980’s to 2000 that had led the economy to achieve the status that it had achieved today. It was observed that during the specified time period, Thailand had experienced an increasing trend of capital inflows by opening up its economy and integrating it with the world economy (Beja, Junvith and Ragusett, n.d.). About two decades ago, Thailand experienced a growth that had become exemplary worldwide and since then, its su ccess story acts as a benchmark for the other economies to follow. However, right at the end of the millennium, the noteworthy rise came to a grinding halt due to the unfavorable conditions of the world economy, better known as the Asian crisis. This paper aims to understand the factors which were responsible for such high rates of growth in Thailand. For the research purpose, the period from 1980’s to 2000 has been considered. The main objective is to evaluate the growth of the economy along with studying the growth of population, in this period. Then, the impact of growth on the level of literacy and conditions of health will be analyzed in details. An inductive methodology is used for the purpose. Based on the findings, the results are drawn accordingly. The paper mainly tries to understand the reasons behind the economic growth admitting the fact that there was indeed a huge growth (Chuenchoksan and Nakornthab, 2008). The most astonishing aspect, inspite of the definite i ncome growth, is the spectacular levels of income inequality.

General topic Essay Example | Topics and Well Written Essays - 2500 words

General topic - Essay Example Metaphysics is further categorized into two main sub branches of Cosmology, which studies the origin and nature of the universe, and Ontology, which studies the nature of being and existence. Within metaphysics there are a broad range of differing philosophical theories having dissenting opinions and expressing opposing views... Among the many influential metaphysicians include Plato and Spinoza, each known for their philosophical studies and theories with respect to their conception of reality. The aim of this essay is to highlight the important aspects of their philosophies with respect to their ontology (i.e. their conception of reality), and also to compare the two philosophies and their ethics by enlightening the most prominent of the ontologies. Plato’s Philosophy The theory of Forms of the theory of Ideas is the basis of Plato’s philosophy. It refers to the belief that the material physical world as it appears to us in reality in not the real world, but itâ€℠¢s only the image of the real world. Theory of Forms According to Plato, the objects that we see in the real world are not actually real, but the imitations of the real Forms. In allegory of the cave in one of Plato’s dialogue Republic that discuss the Forms, it is said that the objects that we human beings perceive in the world are characterized as shadows of real things, and the real things cannot be perceived directly. These Ideas of Forms are the foundation of good or bad behavior and they are the basis behind Plato’s dualism and they also allow him to show the immortality of the soul. The Ontological Dualism Plato speaks in defense of the notion of clear ontological dualism which has two different types of realities or worlds: The Sensible World & the Intelligible World. These two worlds are quite different in a sense that the Sensible World consists of individual realities and so it consists of more than one part forming the whole. It is the world that is invaria bly and always changing, the world of material, physical and space time things. Conversely, the Intelligible World is the world of Forms (or Ideas), which are the invisible universal realities and in general do not change. These Forms or Ideas can well be understood, inferred and known and they are unquestionable realities. According to Plato these Forms are not just the perception or concepts in or minds, in fact, they exist out of our senses and consciences as free and independent beings. Plato realizes that although the Sensible World is ontologically inferior and the intelligible World possesses the highest degree of reality, the reality of sensible things cannot be denied, and it also has the quality of being which originates from the imitation of the real world. The immortal entity or the Creator of the universe gives the shape of the intelligible world’s Forms to the amorphous and formless sensible objects; hence they appear similar to the Forms ("Torre de Babel"). For ms – The Essential Basis of Reality One may question what exactly are the forms? A form is something that is the essence of the objects, without the existence of these forms a thing would not be the kind of thing it is. For example, we may draw a square shaped object on a chalkboard and say it’s a square. A square as we know is a polygon with 4 sides and it’

Principles Of human Resources Management Essay Example for Free

Principles Of human Resources Management Essay INTRODUCTION The management of organization human resource to make them attain the organizational goals and work effectively towards contributing to the growth of the organization in contemporary times has taken a new dimension from the traditional way of personnel management. Human resource is considered as the most valuable resources in the organization; without which other resources cannot be coordinated and utilized to the optimal sue of the organization. The formation of effective relationship with workers and enabling a working environment where there is informal relationship goes a long way to motivating workers to performance. According to Farrazzi Gatti (2007), â€Å"†¦developing deep, genuine relationships- both internally among co-workers †¦is one of the most important skills need for performance in workplace† Thus, Human Resource Development (HRD) is a vital process used in contemporary times to make an organization Human resource inapt and adequately equipped to face the challenges of the time. According to Wilson (1999:27), â€Å"An alignment between strategy and training and development is now commonly regarded as a good business sense in all corners of the globe†. This is more adduced to the limited resources and finance to aid an organization in the attainment of its goal. Thus, HR development will go a long way in the organization to attain effectively set goals in the most efficient way. For Colours R Us (CRU) company to effectively get the best in its human resource management , the management of the organization need to put in place conducive working environment; one that would motivate workers to want to remain long in the organization. This is obtainable through formation of deep relationship among workers. Getting the right people at the right place is a function of human resource planning. Motivation of workers plays a significant role in maintaining and making the positioned ‘right people’ stay and build up a long career in an organization. IMPLEMENTING AN EFFECTIVE HRM IN CONTEMPORARY BUSINESS Effective Human Resource Management practices are recognises as to enhance an organisation’s competitive advantage by creating both cost leadership and differentiation. Today’s competitive global environment has made organisation maintaining a competitive advantage puts a premium on having a committed and competent workforce. Low-cost, high- quality products and services are a result of committed employees all working hard to produce the best products and provide the best services that they can at the lowest possible cost. Thus, it is important that the Human Resource Managers are made to get in touch and be included in the organisation’s strategic plan, since they have the wealth of experience in the motivation of the organisational workforce into putting their best in the attainment of the strategic goals of the organisation. Furthermore, the possession of information about human resource planning put the Human Resource Manager in a good position to partake in the strategic planning of the organisation. For example, with the available information on human resource planning, this along side with the organisation strategy would bring about the hiring of the best human resource that would be in a better position to efficiently meet the organisation’s goals. In this view, Sims (2002), has it that, As effective partners in helping organisations successfully achieve their goals, Human Resource Management managers need to have a clear understanding of exactly what are the organisation’s strategies, and then they must ensure that their own efforts are consistent with provide support for those strategies. To the extent that the Human Resource Management function is seen as a strategic partner and/or a centre of expertise, of course, its manager should also be actively involved in the formulation of corporate and business strategies as well as other functional strategies. A closer integration between top management goals and Human Resource Management practices helps to elicit and reward the types of behaviour necessary for achieving an organisation’s strategy. According to Matanmi (2001:7), â€Å"as a concept HRM has relatively recently, developed as a generic (i.e. broad, all-embracing), and yet specialised management field that particularly draws its strengths from such multi-disciplinary sources of knowledge that include (but) not exclusively restricted to) personnel management, organisation behaviour   (OB), industrial and labour relations, economics, law, psychology and sociology†. In the process of HRM, there is an increasing emphasis on the personal needs of the organisation and its members. Thus, how effectively an organisation’s employee contribute successfully to the attainment of the organisational goals depends to a larger extent upon the ability of its HRM staff. Hence, the challenges of the HRM are to create an organisational environment in which each employee can grow and develop to his or her fullest extent (Sims, 2002:4). Furthermore, Rowden (1999) have it that Human Resource Professional need to master global operating skills. They should learn to do business in non-native environments, with individual of different backgrounds and perspectives and with products and services used in different ways. Human Resource Professionals should also be masters of the business environment. They need to understand financial reports, business goals, and consumer and investor important. â€Å"Also they must have the business acumen necessary to understand and support the business function. This will make Human Resource Professionals and indispensable part of a team assigned the task of charting a business’s future†. (Hussey 1995). Thus, it is seen that for the Human Resource source professionals to actively partake in the strategic planning of an organisation they need to be vast with skills that cut across financial planning, critical visioning and thinking, analytical skill and be informed with the ever changing technological development and better utilisation of modern information technology packages. This will make them be equipped to put the organisation a head of its competitors. SITUATIONAL ANALYSIS OF COLOURS R US (CRU) HRM PROBLEMS The workers in Colours R Us (CRU) are not motivated enough to make their stay and build up a career in the organization. The working environment is not conducive; as workers find it difficult to meet their personal needs in the locality where CRU is located. These include restaurants services, baby day care services, security of workers who engages in night shifts. The necessary amenities are not there to aid the worker abide in their work and stay long in the company. Another major issue that is making CRU not to attract the best workers and to retain those it has is the level of remuneration available to the company’s staffers. However, CRU gives an average remuneration, the locality where the company operates from there is higher level of payment. The software companies and communication call centers are well positioned to pay more. This alone, would be an obstacle in motivating the right workers to want to be employed and build up a career with CRU. This is also a cause to make already employed workers in CRU to wanting to move out. Furthermore, the statistical number of workers in the organization shows that women are more than male permanent workers are. Women workers usually leave within short period of assuming their post as workers in the company. There is the problem of getting more workers to operate the company’s diversification operation in the production of ‘Magnificence in Miniature’ RECOMMENDATIONS FOR MANAGING THE COLOURS R US (CRU) HRM PROBLEMS As a Consultant with ‘Right People Right Place’, my recommendations for CRU Company, to solve its HRM problems, include the following: MOTIVATIONAL IMPROVEMENT FOR THE COMPANY’S HR CPU as an organization has not done very well in the motivations of its staffers. Though the company pays its staffers the average pay in the industry, the workers put in much time. Motivation would keep the staffers to contribute meaningfully in the organization and they will be interested and prepare to build up a lasting career with the company. Lindner (1998), argues, â€Å"Motivated employees are needed in our rapidly changing workplaces. Motivated employees help organizations survive. Motivated employees are more productive. Monetary incentive is not only the channel of motivating workers. The sense of belonging and appreciation of workers contribution to the organization goes a long way to motivating workers. To be effective, managers need to understand what motivates employees within the context of the roles they perform. Of all the functions a manager performs, motivating employees is arguably the most complex. This is due, in part, to the fact that what motivates employee changes constantly†. The CPU management should adapt different ways for motivating employees who serve long hours and permanent from short- term workers. Motivating short-term worker, this should be done differently from those workers who are overworked or who put in lengthy work performance in the organization (University of Chicago Newsletter for Supervisor and Managers, 2004). In motivating a short-term worker the management of CPU, need to adopt the following strategic approach: Reinforce the significance of short-term employees work by explaining their importance and how they contribute to the organization’s growth. Introduce short-term employees to the people who use their work to demonstrate the effect the quality of their work has on others. Counter assumptions that someone else will do the work if short-term employees do not come through. Discuss the role short-terms workers play in the CPU manufacturing and working process. They should be made to understand that their work is as important as that of other employees. The Management of CPU should demonstrate interest in their long-term plans for HRM for short –term workers. Plans should be devised to identify those areas where skilled short-term workers may have value elsewhere in the organization. The management should help short-term workers to identify other opportunities before their assignment in your department is over. On the other hand, to motivate those workers who have work lengthy period and over work for the organization, the CPU management can motivate this group by adopting a strategy that follows the sequence of: The CPU management should let the lengthy period and over worked employees know that the company value their stay in the organization and appreciate their contribution to the growth of the organization. They should be made to know they stand to be adequately rewarded. The management of CPU should display the quality of a team player by requesting from this category of workers what they require to made them comfortable and keep the work going. The management of CPU should provide a feedback to workers that put in lengthy work hours, stay, and make them fell appreciated for their contribution in the organization. ADOPTING A MUTUAL EXCHANGE MOTIVATIONAL STRATEGY Mutual exchange is another strategy the management of CPU can adopt in motivating their workers. Here, where a worker has accomplish an assigned task he or she should be given something in return based on   earlier promise made by the supervisor; this may come in form of   a day off, or early closure for the   day’s work etc. According the Moore (1991), the negative effect of this appraoch is that it is not the most effective approach for motivating   workers; as the workers and supervisor may not reach a balance on what should be exchanged for the accomplishment of an assigned task.   RECRUITING MORE MALE WORKER The management of CPU should engage in recruiting more males than females. The environment where the company is situated is not conducive for female worker to work adequately. There is absence of day care for nursing mothers and those women with little children; the vicinity is not safe enough for night female worker. Considering these facts, the male worker will do more to cope in the environment than their female counterparts will. STRATEGIC ALLIANCE FORMATION WITH OTHER INTENSIVE CARE AND FACILITY PROVIDING ORGANIZATION The major reason for the workers leaving the CPU Company within short period is adduced to the lack of amenities to contribute to workers convenience in working for the company. The locality where the company is situated lacks these basic amenities. The management of CPU can enter into strategic alliance by inviting and forming strategic partners with small organizations to provide basic services that the workers lack, such as children day-care services, security, inter-alia. REFERENCES Ferrazzi, Keith Gatti, Lisa (2007), â€Å"The Human Element of Successful Training† June Volume 61, 6c ABI/ INFORM Global P. 68 Hussey, D. (1995), â€Å"Human Resources: Strategic Audit† In International Review of Strategic Management Vol. 6 Pp 157-195. Lindner, James R. (1998), â€Å"Understanding Employee Motivation† in Journal of Extension. June 1998 Volume 36 Number 3 Matanmi, Segun (2001) Strategic Management of the Human Resources in Nigeria for the next Millennium: some notes   (unpublished article) Lagos State University. Moore, Dianne-Jo (1991), â€Å"7 Motivational Strategies Managers Motivation Of Workers† Modern Machine Shop http://findarticles.com/p/search?tb=artqt=%22Dianne-Jo+Moore%22 (2/11/06) Rowden, R.W (1999), â€Å"Potential Roles of the Human Resource Management Professional in the Strategic Planning Process† in SAM Advanced Management Journal. Vol. 64, Issue 3. Pp 22 Sims, Ronald R. (2002), Organisational Success Through Effective Human Resources Management West Port, CT: Quorum Books. Pp. 1-5, 8, 9, 20, 23. University of Chicago Newsletter for Supervisor and Managers’ (2004), â€Å"Strategies and Tactics Methods to Manage Your Work, Your Staff, and Your Results† Volume VI Issue 9 September http://hr.uchicago.edu/newsletter/itk20040901/toc.html (1/11/06). Wilson, John P. (1999), Human Resource Development: Learning and Training for Individuals and Organizations London: Kagan Page

Budgeting Importance Essay Example for Free

Budgeting Importance Essay Abstract Beyond Budgeting has been proposed as an influential idea that will reinvigorate management accounting contribution in business  operation and performance. It is claimed that the traditional system has lost relevance with the modern business environment and is no longer satisfying the needs of managers. Budgets have been ingrained in the culture of business since their inception in the 1920s and managers will find it extremely difficult to radically shift to a system without budgets. The implications of a Beyond Budgeting system are; performance measures relative to competitors and a decentralised organisation structure. Alternatives such as the Better Budgeting techniques may be more favourable to management who desires a formal planning and control system. The Beyond Budgeting concept is still in its infancy and requires further development and practical implementation. Keywords: Budget; Beyond Budgeting; BBRT; Management Control I. Introduction Beyond Budgeting has been proposed as an influential idea that will reinvigorate management accounting contribution in business operation and performance. According to Hope and Fraser (2003) the budgeting system, as implemented by most businesses, should be eradicated. The budgeting debate has arisen due to a movement into the information age (Drury, 2008). It is considered that the environment is now so complex and competitive that budgeting in its existing form is no longer useful for businesses. Dissatisfaction with traditional budgets is growing in the business world and ‘Beyond Budgeting’ has been suggested as a method to reinvigorate the managerial contribution of management accounting. This article discusses how budgeting has evolved into its current state, before examining why this universal technique has come under such heavy criticism of late. The limitations and weaknesses of traditional budgeting system will be supported with appropriate references. At the he heart of this paper is the evaluation whether the Beyond Budgeting model is more relevant in today’s business environment and if it can be a prominent tool in the future practices of management accounting. After critically evaluating academic scholars’ views on this issue, a conclusion will be drawn as to whether Beyond Budgeting really is the way forward. This article is organised as follows: Section II introduces and discusses evolution of various concepts of budgeting; Section III discusses limitations of traditional budgeting; Section IV discusses how beyond budgeting addresses the limitations of traditional budgeting and is indeed the way forward and finally section V concludes. II. Evolution of Various Concepts of ‘Budgeting’ Bhimani et al. (2008) define a budget as a quantitative future plan created by managers to assist the implementation of this plan. Becker et al. (2009) state the common view is that at the foundation of management accounting  systems is budgeting. In the 1920s budgets were born in order to help managers control costs and cash flows (CIMA, 2007). This concept grew into fixed performance contracts involving future income and expenditure estimations. Budgets were used to drive and evaluate management performance. Furthermore, Rickards (2006) believes the main purpose of budgets is to help implement a firm’s strategy, not just controlling and planning. The changes in the economic environment and business processes led to evolutions in budgeting. From the initial cash budgets to more modern techniques of zero based budgeting (ZBB) and activity based budgeting (ABB). Drury (2008) details six functions of traditional budgets: Refining the company’s long term plans; Coordinating the different departments and helping to improve relationships between them; Communicating ideas and expectations from top management to all other employees; Motivating managers to achieve challenging targets and goals.; Controlling the business activities using variance analysis to determine areas requiring attention; Evaluating the performance of managers in relation to achieving targets. A study of 40 managers revealed that budgeting is still very popular (Dugdale Lyne, 2006). They found that all businesses in question were using budgets and that when used alongside other tools; budgets can harmonise, motivate and control. Budgeting is ingrained in the cultures of many companies; therefore it can be difficult to convince managers that the business will be better off without them (Libby Lindsay, 2007). Daum (2002) argues that in the dynamic business environment managers should be looking to grow, expand, exceed targets and limits, and not be restricted by them. He describes many features of this environment such as; complex activities, innovation, retention of good employees. The new business environment is vastly different from the 1920s and although budgets have evolved to adapt to these changes, they are increasingly coming under criticised. III. Criticisms of Traditional Budgeting The traditional budgeting methods are considered too time consuming and unresponsive to external changes. According to a research by Neely et al. (2003) the budget creation uses 20% of management time. Following on from this, Bartram (2006) found that even the leanest and most efficient  companies take 79 days to organise their budgets, whilst 210 days are spent in the worst practice companies. This is a considerable amount to time for a firm to spend on an activity that arguably adds no value to the business. The budget culture has restricted the ability for a firm to reshape into a modern business because the budgets reign and contain management behaviours into old  paradigms (Hope and Fraser, 1997). In today’s environment the traditional systems of frequently found to be an obstacle to innovation and enterprise by management (Daum, 2002). Daum Hope (2003) highlight the growth of organisations as a factor in causing the irrelevance of traditional budgeting methods. Previously, businesses were smaller and staff relationships were built on trust. Trust to act in the best interests of the company. The expansion and development of multinational companies has caused a break down in trust between employees. To combat this, budgets were used as systems of control. However, now this control aspect has become a restriction to progress for a modern and forward thinking company. The following are weaknesses suggested by Neely et al. (2003) and they advocate these as an area for improvement. Budgets lack strategic focus and value creation, instead the aim is always cost reductions. The bureaucratic style restricts flexibility which in turn impacts a firm’s creative instincts. Annual budgeting is too infrequent therefore feeding into the unresponsive argument. Employees may not react well to having controls forced onto them thus having the potential to de-motivate. Also the top down style of budgets strengthens vertical command structures, which can lack adaptability and responsiveness. Working to budgets can cause dysfunctional behaviour as managers are often under pressure to meet targets, this behaviour is also known as budget games. Bartram (2006) breaks down budget  games into five areas. Firstly, ‘The Sky’s the Limit’, this entails management pushing the boundaries and trying to get as large a budget as possible instead of asking for just what they need. This feeds into ‘Mine’s Bigger than Yours’ whereby managers use the size of their budget to judge their own status within the company. ‘Cooking the Books’ relates to a delay of declaring revenue if the targets are already met so that they can use this revenue to meet future objectives. Next is ‘Hey Big Spender’, managers feel that they must spend the entirety of their budget otherwise it will be cut next year. Finally, ‘Bonus or Bust’ is concerned with the managers focus on measures that impact their own salaries or bonuses, whilst ignoring targets which may be more vital to long term success. On the subject of budget games, Jensen (2003) feels the integrity of the whole firm can be compromised when managers partake in this type of behaviour. The traditional system is based on a flawed principle; reward managers for meeting targets but punish if they fail to do so. This only encourages the type of dysfunctional behaviour described by Bartram. In order to end these games, Jensen proposes abolishing the using budgets as a system for rewarding performance. Otley (2003) believes budget system has the potential to create dysfunctional behaviour and discusses his experience of a coal mine that held back stock to meet weekly quotas, an example of ‘Cooking the Books’. The majority of criticism of traditional budgeting methods has been published by the proponents behind the Beyond Budgeting movement, Hope Fraser. Their initial criticisms were used as a spearhead to create a better management tool. Traditional methods rely on past information which can have negative knock on effects. An example is the incremental budgeting tool, where the previous year’s budget is slightly adjusted for the new year without any analysis into areas which are over/under performing. The performance evaluation is generally carried out at the end of the budget period; this can be too late to remedy deficiencies. Leading on from this, the common practice is to carry out fixed percentage cuts when early results appear unacceptable (Hope Fraser, 2003). Libby Lindsay (2007) feel that the problems are originating from how budgets are implemented and used within business, if used correctly they still can be a very effective tool. Ekholm Wallin (2010) agree with Libby and Lindsay, and add that if properly used traditional budgets are a strong framework to plan and measure a company’s operations. Therefore it can be suggested that many of the inadequacies of traditional budgets could be down to the implementation and not the tool itself. Despite the reasoning behind these limitations, Hope and Fraser (1997) report that 99% of European companies use formal budgeting procedures, this figure is likely to remain high even today. In addition, a survey of US organisations by Libby Lindsay (2007) revealed that over 50% of senior managers felt businesses could not cope without budgets and that they were imperative to success. Managers also believed that despite the associated time and costs, budgets were adding value to a company. Ekholm Wallin (2010) feel the annual budget is not dead yet, but it is past its peak and has lost usefulness and become outdated. IV. Beyond Budgeting Beyond Budgeting promotes the most ideal characteristics of a budgeting system; flexibility, coordination and responsiveness (Pilkington Crowther, 2007). It is not just another system of tools; it requires a complete overhaul of the organisations culture and a shift in the management style (Becker et al, 2009). Hansen (2011) states this can be performed in two stages; move toward performance evaluation relative to competition and then implement a decentralized structure. Hope Fraser (2003) believe the limitations of traditional budgetary systems require businesses to abandon budgeting altogether and instead focus on financial and non financial measures. The process should look to external benchmarks and competitors rather than internally set targets. The restrictive nature of budgets is removed and this can enhance the potential of a firm whilst empowering employees to make better decisions. Player (2003) describes Beyond Budgeting as extreme approach but with vast benefits to be r ealised. A key problem area is with rewarding managers using traditional systems. A Beyond  Budgeting reward system is far more appropriate as it is relative to performance measures, often derived from competitors and benchmarks (Hope Fraser, 2003). Daum Hope (2003) argue that Beyond Budgeting is a more adaptive approach to management, with more frequent performance reviews. A second feature is that centralized and hierarchical structures are converted to a decentralized management style. This empowerment pushes authority and decision making to lower levels of the business. The effect can be found in increased productivity and motivation. Managers have embedded budgets into their culture so it is likely they will struggle to manage without them. Hope and Fraser (2001) believe that the volatile nature of the environment mean budgets and plans are redundant. Budgets try to remove surprises from business. Instead, managers should embrace them and look to them as opportunities for improvement. They continue by saying that in order to take full advantage of the opportunities lower level staff need the authority to make strategic decisions. Furthermore the removal of budgets creates extra time for managers spend on  problem solving and adding value to the business, as the time taken to prepare budgets is a particular disadvantage (Ostergren Stensaker, 2011). The Beyond Budgeting model is becoming increasingly popular and many companies are now following its principles. Hope Fraser (1997) discovered that the Scandinavian bank Svenska Handelsbanken abolished all forms of traditional budgeting in 1979. Since then it has grown into the largest bank in Scandinavia and one of Europe’s most efficient banks. Their CEO reported that a cultural change from budgets and targets to improvement has enabled costs to be driven down. Daum (2002) states that Svenska Handelsbanken utilised a decentralised structure to enable each branch to run as an independent profit centre. This is an example of the potential that Beyond Budgeting can unlock. The Beyond Budgeting Round Table (BBRT), a network designed to transform the  traditional budget system, studied 14 companies without budgets or almost without budgets and from this they produced 12 guiding principles to Beyond Budgeting: i. Measure performance against the competition, not internal targets. ii. Motivate employees by empowerment. iii. Delegation to divisional managers allows them to take responsibility. iv. Give operational managers independent access to resources. v. Create customer focused teams. vi. Provide transparent information sharing across the organisation. vii. Set targets on external benchmarks. viii. Rewards in line with beating the competitors. ix. Allow managers to be involved with strategy planning. x. Grant management access to local resources. xi. Coordinate the internal use of resources. xii. Performance measurement information should be available freely. (Daum, 2002) Pilkington Crowther (2007) have found that Beyond Budgeting is most commonly adopted by large firms employing over 1,000 people. The smaller firms (10 50 employees) tend to impose strict budgets for employees to follow. This is likely to be due to the size, management style and ability to train staff in unfamiliar concepts. DeWaal (2005) suggests an entry scan before implementing Beyond Budgeting to ensure that staff feels the current systems are failing. The scan creates discussion into whether staff wants, and if the organisation can, implements Beyond Budgeting. The main advantage of questioning the employment of Beyond Budgeting is that staff will feel involved in decision making and internal business processes. Beyond Budgeting appears to have many advantages over traditional systems but it is not without criticism of its own. CIMA (2007) believe that having no budget  creates various problems. A business will have no framework for planning, coordinating and controlling its activities. The business can lose direction without detailed plans of its current position and future goals. Finally, a drastic culture change can leave employees feeling disillusion and the decentralized structure may be impractical for some organisations. An alternative option for firms that still want a formal budgeting system is Better Budgeting. Better Budgeting entails five techniques that can be used to overcome some of the limitations of traditional methods (Neely et al, 2003). Activity Based Budgeting involves planning using value adding activities, following a similar concept to ABC and ABM. Zero Base budgeting forces managers to justify their budgets every year to try and prevent dysfunctional behaviour and budget games. Thirdly, a Value Based technique encourages a focus on creating shareholder wealth and linkages with strategy. Profit methods consider both short and long term projections whilst ensuring sufficient cash is generated. Finally, Rolling Budgets create frequent budgets to provide more accurate forecasts. A major problem with Better Budgeting techniques is that they can actually take even more management time to be used effectively, which is likely to cause greater dissatisfaction with the processes. The Beyond Budgeting movement is still in the early stages of development and Rickards (2006) feels that further research and practical implementations are required before a real breakthrough in management accounting is achieved. Becker et al (2009) believe that the initial fascination with Beyond Budgeting is fading and that some principles are being put into practice, just not under the umbrella of Beyond Budgeting. Decentralisation and empowerment may be growing in popularity due to the current business environment. V. Conclusion To conclude, Hope’s view is that Beyond Budgeting is a far more effective system which conquers the limitations of traditional methods. He foresees the international expansion of the BBRT and that Beyond Budgeting will become a ‘major management theme for the future’ (Daum Hope, 2003). After evaluating the thoughts and opinions of various academics, this article believes that Beyond Budgeting has an important role to play in the future of management accounting. However, it is unlikely that it will be fully adopted as the BBRT imagined; a number of principles are extremely useful within the modern environment. These may be adopted but management will find it hard to completely abandon budgeting, as it is embedded it business culture. Perhaps some Better Budgeting techniques could be practiced in order to update the failing traditional system. This article supports the argument that traditional budgets are outdated and no longer appropriate for the current environment. Furthermore, budgets can actually destroy shareholder value within a firm therefore it is vital that new systems are developed. It is the view of this article that the traditional budget requires refreshing and revitalizing but is not yet ready for removal. References Bartram, P. (2006). Forecasting the end for budgets. Director. 30. Becker, S., Messner, M. and Schaffer, U. (2009). The Evolution of a Management Accounting Idea: The Case of Beyond Budgeting. Working paper. Bhimani, A., Horngren, C., Datar, S. Foster, G. (2008). Management and Cost Accounting, 4th ed. Harlow: Pearson. Michael Goode, Ali Malik CIMA 213 (2007). Beyond Budgeting. [Online] Available at: http://www.cimaglobal.com/Documents/ImportedDocuments/cid_tg_beyond_bu dgeting_oct07.pdf [Accessed: 28/11/11] Daum, J. (2002). Beyond Budgeting: A Model for Performance Management and Controlling in the 21st Century? Controlling and Finance. Daum, J. and Hope, J. (2003). The origins of Beyond Budgeting and of the Beyond Budgeting Round Table (BBRT) An interview with Jeremy Hope. DeWaal, A. (2005). Is Your Organisation Ready for Beyond Budgeting? Measuring Business Excellence, 9(2), 58-67 Drury, C. (2008). Management and Cost Accounting. 7th Edition. Andover: Cengage Learning. Dugdale, D. and Lyne, S. (2006). Budgeting. CIMA Financial Management, 32-35. Ekholm, B. and Wallin, J. (2010). Is the annual budget really dead? European Accounting Review, 9(4), 519-539. Hansen, S. (2011). A Theoretical Analysis of the Impact of Adopting Rolling Budgets, Activity-Based Budgeting and Beyond Budgeting. European Accounting Review, 20(2), 289-319. Hope, J. and Fraser, R. (1997). Beyond budgetingbreaking through the barrier to the third wave. Management Accounting, 75(11), 20-23. Hope, J. and Fraser, R. (2001). Beyond Budgeting Questions Answers. CAM-I Hope, J. and Fraser, R. (2003). New ways of setting rewards: the Beyond Budgeting model. Californian Management Review, 45(4), 104-119. Hope, J. and Fraser, R. (2003). Who needs budgets? Harvard Business Review. 81(5), 125-126. Jensen, M. (2003). Paying People to Lie: the Truth about the Budgeting Process. European Financial Management, 9(3), 379-406. Libby, T and Lindsay, R. (2009). Beyond budgeting or budgeting reconsidered? A survey of North-American budgeting practice. Management Accounting Research. Neely, A., Bourne, M. and Adams, C. (2003). Better budgeting or beyond budgeting?Measuring Business Excellence, 7(3), 22-28 Ostergren, K. and Stensaker, I. (2010). Management control without budgets: A field study of â€Å"Beyond Budgeting† in practice. European Accounting Review, 19(1), 1-33. 214 Pakistan Journal of Social Sciences Vol. 31, No. 2 Otley, D. (2003). Management Control and Performance Management Whence and Whither? British Accounting Review, 35, 309-326. Pilkington, M. andCrowther, D. (2007). Budgeting and control. Financial Management, 29-30. Player, S. (2003). Why some organizations go Beyond Budgeting. Journal of Corporate Accounting and Finance, 14(3), 3-9. Rickards, R. (2006). Beyond budgeting: boon or boondoggle? Investment Management and Financial Innovations, 3(2), 62-76.

Advantage And Disadvantages Of Fixed Wings Engineering Essay

Advantage And Disadvantages Of Fixed Wings Engineering Essay Law enforcement agencies have utilized fixed wing and rotor wing aircrafts to help enforce laws since the 1920s. This paper will discuss the advantages and disadvantages of fixed wing and rotor wing aircrafts. Take a brief look at some of the missions and technical equipments that are utilized by law enforcement agencies. Look in depth at two of their fix wing aircrafts utilized and how rotor wing aircrafts help save lives and enforce the law. Since 1920, law enforcement agencies have used fixed wing and rotor wing aircrafts to assist in enforcing the law. In 2007, data from the Bureau of Justice Statistics showed that large law enforcement departments provided aerial enforcement in the District of Columbia and 46 states. There were 295 airplanes and 604 helicopters being operated, which flew more than 330,000 missions. http://bjs.ojp.usdoj.gov/content/pub/pdf/aullea07.pdf The types of airplane that are in use by law enforcement are Cessna 182, Cessna 206, Pilatus PC-12 Spectres, P-3 Orions, Citations, Learjets, Gulfstream jets, King Air 350s and 200s and some larger airliner-type aircraft. Some of the helicopters are the American Euro-copter EC120/130/145, AStar AS350/355N/350 B2, Dolphin HH-65C, Blackhawk UH-60, Maverick, Raven II R44, Cayuse OH-6 and McDonnell Douglas MD 600. The types of missions these aircrafts conduct are surveillance, drug interdiction, fugitive searches, routine patrol or support, search and rescue , personnel transport, prisoner transport, SWAT operation, traffic enforcement, speed enforcement, homeland security, photographic, medical support and evacuation. Both types of aircrafts have their advantages and disadvantages in airborne law enforcement. http://www.kansas.com/2010/08/01/1427779/aviation-sees-growth-in-law-enforcement.html. The advantages that helicopters have over fixed wings are they can land and take off without the need for run ways. Their airfoil shape rotors are like the wings of an airplane, as the rotor spins, air flow faster over the tops of the blades than underneath, thus creating lift for flight. Their unique rotor design allows for them to takeoff vertically, fly in any direction and hover over an area. Their ability to hover provides coverage for ground units and are able to land in assisting in foot pursuits. Helicopters can be equipped with a winch for the purpose of lowering or picking up personnel or equipments on the ground. It is valuable asset in conducting rescues at sea or on mountains, where there is no place to land. Its size allows for maneuverability around tall structures at lower altitudes. manhttp://library.thinkquest.org/J0112389/helicopters.htm. The helicopters are force multipliers for ground units, because they can monitor the tactical environment, give alerts or observe things which the ground units are unable to detect. Additionally, they can respond and cover ground more quickly than ground units. The flight deck of a helicopter can be equipped with multiple electronic equipments. Electronic Flight Instrument System (EFIS) also know as glass cockpit that provides flight and system information to the crew, Forward Looking Infrared (FLIR) camera allows the crew to see images created from infrared energy, moving map system show their location, satellite phones provide direct communication, digital video downlink gives real time images, night vision goggles can be used in low light situation, loudspeakers for communication or message deliver to the ground, tear gas dispensers help control crowds, police and aviation radios keep the crew in contact with other officers and air traffic controls . The equipments aboard the helicopters are vital in helping enforcing the law as the incident on the 14th of November 2008, when the San Diego Police Department helicopter used the FLIR camera video to help indict a man for beating another man with a crutch in the middle of the street at night. Without the FLIR system they would have not been able to see the incident happening. http://www.policeone.com/police-products/tactical/night-vision/videos/5954944-police-helicopter-catches-bizarre-street-fight-on-flir-camera On the night of 30th January 2013, a 60 year old captain of the Panamanian cargo ship Gray Shark was having a heart attack. The NYPD police responded to the emergency call and conducted a dramatic nighttime helicopter rescue in New York Harbor. The NYPD harbor medical team stabilized the captain before calling in the help of a police helicopter to airlift him off the ship. A basket was lowered from the helicopter to hoist him up and then flew him to Staten Island University Hospital North where he was listed in stable condition. This rescue shows one of the many advantages that a rotor wing aircraft posses. http://www.ny1.com/content/top_stories/176246/police-helicopter-rescues-ship-captain-who-was-having-a-heart-attack The disadvantages helicopters have are that they cost more to operate and maintain. A fully equipped helicopter can cost from $500,000 to $3 million to purchase and the flying costs ranges from $200 to $400 per hour. http://usatoday30.usatoday.com/news/nation/2007-09-30- cophelicopters_N.htm Maintenance, fuel, leasing and financing cost are three times then the cost that of operating and maintaining airplanes. Its abilities to fly lower and hover creates noises that are easily detectable. The capacity of passengers that a helicopter can carry is limi ted and varies from type. The Robinson RA-44 can carry 2 to 4 personnel and others like the Blackhawk UH-60 can carry 11 personnel or the Bell UH-1 that can be configured to carry 15 personnel. The general commercial helicopters in the law enforcement agencies have a flight time of two to four hours, with top speed from 50 to 200 knots and an average range of about 200 miles. The operations of fixed wing aircraft have some advantages over rotor wing aircrafts in law enforcement. They can perform a wide range of missions which requires them to stay airborne longer then a rotor wing aircraft is able too. Fix wing aircraft can carry more payloads and engine performances are great then those of rotor wing aircrafts. Aero surveillance, homeland security, speed enforcement and transport of people or gear are mostly the missions perform. http://www.lawofficer.com/article/patrol/fixed-wing-aircraft-law-enforc They are equipped with a variety of high tech equipments just as their rotor wing counterparts. The cabins are pressurized and allow for higher altitude flights, which enables them to conduct surveillance 5,000 ft to 6,000 ft and not be undetected. The costs to maintain and operate a fixed wing aircraft are cheaper than rotor wing aircrafts. On average per flight it cost about $54 for maintenance and $45 for fuel compared to a rotor wing aircraft. http://bjs.ojp.usdoj.gov/content/pub/pdf/aullea07.pdf One example of a cost effective fixed wing aircraft is the light sport aircraft. The general cost of the aircraft is between $60,000 and $130,000 to purchase. The cost for fuel and maintenance is only $50 per hour. They can fly at speeds ranging from 35 to 125 knots which makes them an excellent platform for performing a broad range of law enforcement missions. It can carry up to 500 lbs and travel twice as far as a helicopter. http://nij.gov/nij/topics/law-enforcement/operations/aviation/types-of-aircraft.htm One of the best aircraft that the Custom Border Patrol ha s in their inventory is the P-3 AEW Orion airplane. This is a unique aircraft is integration with the E-2 Hawkeye aircraft electronics and radar system, which allows for it to see surface and air contacts 200 NM in all directions. The aircraft has a large fuel capacity of 60,000 lbs that allows for flight time up to 10 to 13 hours on station. It has a maximum range at low altitude is 2,500 NM and at high altitude 3,800 NM and a maximum average cruising speed of 300 to 330 knots. It can carry a crew of 12 to 21 personnel. The normal crew consists of four systems operators, three pilots, two flight engineers and three maintenance crew members. They work closely with the Navy and Coast Guard to coordinate the location of drug smuggling boats or planes. The primary missions are interdiction, over water operations, surveillance and homeland security. The use of this aircraft between the Jacksonville, Florida and the Texas office have contributed to the capture and seizure of 50 metric to ns of drugs worth a roughly about 2 Billion dollars since 2006. http://www.youtube.com/watch?v=vqCtrB_FZvE The DA42 MPP (Multi Purpose Platform) GUARDIAN is a specially designed aircraft to carrying multi-functional aerial surveillance equipments. The advantage of this aircraft is its extremely low operating costs and its abilities to conduct surveillance operations. The investment in this aircraft pays for itself through the saving in fuel cost. It can operate at a wide range from a minimum of 75 knots to a maximum of 152 knots fully equipped. When conducting surveillance the aircraft can fly for up to 12.5 hours with refueling. At 50% power setting its maximum range is more than 1,350NM. Currently there is no other small aircraft that can match the flexibility of the GUARDIAN. The GUARDIANà ¢Ã¢â€š ¬Ã¢â€ž ¢s design incorporates hard points located under the fuselage for mounting belly pods and uses a modular attachment approach. The nose section of the aircraft is detachable which allows for mounting nose pods. This aircraft can carry a gyro-stabilized, daylight and thermal video camera, digital aerial cameras and laser scanner, a micro wave up and downlink system with a range of more than 100 NM that provides high quality transfers, satellite downlink beyond line of sight, UHF/VHFradios and a military radios is part of the standard equipment onboard. The GUARDIAN also can operate as an UAV (Unmanned Aerial Vehicle) or OPV (Optionally Piloted Vehicle) that provide support abilities for longer operation times and if require to operations in regions that are generally too dangerous for manned aircraft to operate. http://www.diamond- sensing.com/fileadmin/uploads_airborne/files/DA42_MPP_web_v290108.pdf http://www.diamond-sensing.com/index.php?id=da42mppguardian Some of the disadvantages of fix winged aircrafts are that they require a runway to take off and land. It takes more time to assemble and brief the flight crew for the type of mission being flown. Conges tions and traffic on the run way may delay on taking off or landing. Depending on the size of the aircraft the pilot or co-pilot are unable to see the other side of the aircraft. They are unable provide ground assistance as their rotor wing counterparts are capable of doing, such as land and assist in a foot pursuit. Unable to hover or perform orbits like the rotor wing counterparts they cannot monitor the tactical environment very well, thus unable to observe or alert ground units of what they are unaware of. This limits their ability to land on ships or areas where there are no run ways. A major tool used for search and rescue that airplanes are unable to carry is a rescue winch. Both fixed wing and rotor wing aircrafts have their advantages and disadvantages, but they are both very valuable asset in the mission of state and federal law enforcement agencies in protecting homeland security, defending the Nationà ¢Ã¢â€š ¬Ã¢â€ž ¢s borders, fight against terrorist and enforcing the l aws of the United States.

Ordinary Men :: essays research papers

Should The Policemen be put on Trial?   Ã‚  Ã‚  Ã‚  Ã‚  I personally believe that the policemen in Reserve Police Battalion 101 should be placed on trial for murder. The first chapter of the book states that Trapp explained the men what they had to do, he offered any of the older men among them to leave the mission if they decided that they did not want to carry out with it. That is what I feel is the main argument here. They were given the option to leave, and those who did not leave, and killed the Jews in Jozefow should be put on trial for murder. They pulled the trigger, and nobody forced them to do it. Yes, you can argue that they were orders, and they did not want to look like cowards in front of their comrades, but what they are dealing with is murder. That should be enough of a reason not to do it. To kill not only one person, but over a thousand people so that you do not look like a coward in front of your comrades is a very pathetic thing.   Ã‚  Ã‚  Ã‚  Ã‚  On the other side of the coin, we have the thought that they should be placed on trial because they committed murder to unarmed civilians, and most of the men did not take up the offer to withdraw from the mission.   Ã‚  Ã‚  Ã‚  Ã‚  These German soldiers were to take â€Å"The male Jews of working age were to be separated and taken to a work camp. The remaining Jews-the women, children, and elderly-were to be shot on the spot by the Battalion†(Browning 2). The men in this battalion were to round up all of these Jews, lie them down, and shoot each and every one in the back of the neck. That is murder. They did this because the Jews had instigated the American boycott that had damaged Germany. I do not think that killing thousands of them is the best way to resolve this issue.   Ã‚  Ã‚  Ã‚  Ã‚  Many Jews were taken to killing graves, and they began at the last row of the barracks. They would make them undress, and then they would put them into killing graves. Heinrich Bocholt gave a very descriptive account of what he saw. â€Å"Behind each shooter stood several other SD men who constantly kept the magazines of the submachine guns full and handed them to the shooter. I definitely remember that the naked Jews were driven directly into graves and forced to lie down quite precisely on top of those who had been shot before them.

Greed :: essays research papers

For more than fifteen years psychologist Julian Edney has visited college campuses across the nation to study the effects of greed in a society where over $100 billion in new wealth accumulates each year. On each of his stays, he would play a game with randomly selected students where 10 metal nuts in a bowl represented ‘extra credit’. The students would then take the nuts for a single extra credit point. In this, he promised to double the amount of nuts left in the bowl every 10 seconds. Hypothetically, the game could last forever yielding limitless rewards as the students took turns taking a nut from the bowl. However Dr. Edney determined that 65 percent of the groups couldn’t get pass the first 10 second round, and the others could only make it a few more cycles until modest students turned into rambunctious maniacs scrounging for that last nut. Edney’s conclusion: Greed trumps trust. (U.S. News Magazine, 6/17/96 Special) â€Å"Small towns and neighborhoods in America used to be cohesive,† political scientist Bruce Frohnen pronounced in the May 1999 issue of Family Policy. â€Å"They did not seek openness to all ways of life. Nor did they seek economic betterment as the sole proper goal,† he added. â€Å"Faith and tradition were ruling forces in the lives of Americans, bidding them care for their families and neighbors and their souls, as much as their pocketbooks.† But as the material girls and boys grew, so did the need for greed. In a recent study by Roper Starch Worldwide, the values of teenagers moving into the new millennium have drastically changed from their parent’s visions. The percentage who said they wanted to earn â€Å"a lot of money† grew 25 points from the 38 percent in 1975. Those who said they needed a microwave oven as a necessity rose 19 points, and the percentage that believed life without an answering machine was incomprehensible grew more than 18 points. At the same time, teenagers who believed â€Å"developing a meaningful philosophy of life† dropped by 42 percent. However the rise of money’s power in student-age adults coincided with a reward system for the newly transpired talents. Repetitive tasks are being replaced by super technology while responsibilities requiring intelligence and skill are more emphasized. It is a â€Å"winner take all† society though, where the lopsided share of benefits go to very few players. The ostentation is not all coming from the upcoming generation though.