Accounting Treatment of Intangible Assets

Bookkeeping Treatment of Intangible Asset Draft Pace University ACC692 Summer I By Yigal Rechtman July 30, 2001 Introduction What is the issue? Representing intangibles has picked up conspicuousness in the previous not many decades because of changes in the manner the business world works. The mechanical unrest and specifically, the data age, has carried immaterial assets to the front of the business condition. Organizations ( even the most conventional creation makers ( are moving towards a data age where a serious edge is progressively connected to assets other than the fixed and fluid resources as comprehended by Generally Accepted Accounting Principles (GAAP). Some exploration has demonstrated that representing Intangible Assets (IA) †a general term that will be characterized and isolated later †will satisfy the exactness prerequisite of the bookkeeping capacities and reports. Other exploration has demonstrated that exactness should be exchanged off with pertinence of the bookkeeping capacities and reports. Still other examination asserts that neither precision nor pertinence are served by representing assets that don't meet the current meanings of Assets under GAAP. As needs be, there are two inquiries with respect to the representing IA: 1. Should the Generally Accepted Accounting Principles perceive as monetarily important and exact occasions that emerge from IA? 2. In what capacity should GAAP record, procedure and present these IA related occasions (if the response to address number 1 is certain. ) Question number one is replied in the positive: the presence of IA in the current business condition is demonstrated in rehashed examinations. Further, the monetary impacts of IA on organizations has indicated that not revealing or representing such assets adds up to miscomunications with respect to the action and money related condition of a business. The exploration that was utilized in this paper has indicated that Intangible Resources are progressively a factor in the business world. Impalpable assets, as will be talked about beneath, is a super-set gathering of key components that add to the accomplishment of a business. IA, thusly is a sub-set of the Intangible Resources. The paper expects to investigate the current scope of speculation comparative with IA and how such assets ought to be esteemed, perceived and introduced in the monetary detailing of U. S. organizations. The topic of how to represent IA presents various difficulties, some of them related back to the appropriate response of the primary inquiry. As this paper will appear, perceiving IA on an entity(s books can be viewed as a characteristic subsequent stage, particularly for certain information industry type organizations. Nonetheless, the difficulties to the issue of acknowledgment remain: how to decide IA in an important way? How to report IA and what are the conceivable consequence of elective bookkeeping medicines? Degree and Method of Exploring the ProblemScope and Method of Exploring the Problem The way toward discovering data about the themes identifying with IA, and acquiring a comprehension of the issues, included a presentation by methods for taking an interest in a meeting regarding the matter and getting complimentary readings of distributed articles. The Third Annual Conference on Intangible Assets, supported by New York University(s Ross Institute created a narrative of the introductions, which were utilized in this paper. Extra distributed material was acquired through the ABI-Inform database, via scanning for (Intangible Assets(, (Intangible Accounting( just as (Assets Valuation( and (Appraisal, Intangibles( for the years 1976-2000[? ][i]. The inquiry was constrained to articles accessible in full structure on line (versus articles in which just the theoretical is accessible on line. ) This paper alludes to twenty articles that were acquired through ABI-Inform and ten articles from moderators at the NYU(s meeting. Two focuses ought to be made regarding the extent of the conversation. To start with, the conversation incorporates IA as it is caught and introduced for outer, potentially reviewed, clients of the entity(s extensive budget summaries. Except if in any case expressed, fiscal summaries in this are given similarity of United States( Generally Accepted Accounting Principle (GAAP). Inside the last limits, gauges, for example, amortization and valuable existence of an Intangible Asset (IA), albeit a substantial issue, will be commonly out of the extent of this paper. The explanation behind the restriction is that for income purposes, just as for accounting report examination, such gauges speak to administrative prerequisites and give little by method of catching the substance of the issues encompassing IA. Along these lines, a definitive reason for this paper is to wander out of the restricted wellbeing of U. S. GAAP and research what different isms are workable for introduction of a Statement of Financial Position which joins elusive resources. The technique for this paper comprises of talking about the three models which are utilized to evaluate the options in contrast to bookkeeping IA: valuation, acknowledgment and introduction. Every one of these models is estimated on a scale from 0 to 100 (on the other hand, from 0. 0 to 1. 0) to show the degree of the takeoff of the option from the as of now acknowledged strategy, normally the Generally Accepted Accounting Principles. Since Goodwill is as of now a set up IA under current bookkeeping rules, it will be examined first (for every models) to show the degree of the current treatment. Albeit other IA, for example, Human Capital or Patents exist, they are regularly either unaccounted for or essentially supplanted by a nonexclusive (Goodwill( section on the books. Despite the fact that they are for the most part immaterial resources[? ][ii], it very well may be indicated that not all are Assets (as characterized in this). This paper will likewise investigate the likelihood that, maybe elusive resources, for example, Human Capital ought not be fill in for by the nonexclusive (Goodwill( passage. Definitions Some indistinct, covering and unstructured definitions possess the arrangement of IA issues. thus, a few specialists have utilized conflicting meanings of IA, decreasing the straightforwardness that bookkeepers and monetary specialists need to talk about these issues. Albeit brilliant examination has been distributed, such exploration is regularly not steady in extension or definition to other edge work and theoretical papers that are contemporarily distributed. Thusly, beside giving this (animal( a legitimate name, and calling every one of its parts utilizing a similar scientific categorization, coupled here from different sources. The word reference characterizes IA as (an advantage that is saleable however not material or physical([? ][iii] and (Intangible: †¦ an advantage that can not be seen by the senses†¦, for example, Goodwill or dedication([? ]. As indicated by the FASB, an inside created IA is proposed to be defined[? ][v] as: (1) a past occasion that has a (2) quantifiable impact and that presents a (3) future advantage. The FASB Special Report[? ][vi] states that there isn't a requirement for various guidelines of acknowledgment for inside and remotely produced IA. The FASB explains that inside created IA is essentially an (Asset( without a physical nearness, nor needs to it be an outside securing: as long as every one of the three tests are adjusted with, any business occasion or procedure can deliver an IA. The FASB further notes that there is an implanted clash in this definition since it contains a takeoff from the (notable cost( standard. The transition to a (forward looking( definition is safeguarded by the FASB in arguing for additional revelation, not an adjustment for the configuration and substance of the current introduction rules. In this introduction, to characterize IA (inside or remotely created) the FASB definition will be relevant. Scholarly Capital (IC): A business substance utilizes three sorts of capital: physical, monetary and intellectual[? [vii]. Scholarly capital (IC) is characterized as an impalpable resource that isn't money related or physical and that has been (formalized, caught and utilized to create a higher-esteemed asset([? ][viii]. The crude material, caught and formalized during the time spent capitalization of IC, is information. Information dwells inside an individual, a gathering of people or substance wide. Information that is organized in a proper w ay (for the most part with a data framework, mechanized or something else) is simply information. At the point when it is deliberate and helpful, information is viewed as data. Data utilized is knowledge[? ][ix], which can turn into an IC. In the conversation of IC, a few disaggregation of IC exist. With the end goal of this conversation, the accompanying classification will get the job done as (comprehensive(. This paper doesn't expect to be thorough in its definitions. It very well may be demonstrated that different instances of IC can be found (and the definition stretched out) without weakening the impact of the current issues. The order proposed in this paper utilizes the accompanying instances of IC: Human Capital, Intellectual Capital and Structural Capital. Human Capital (HC) is seemingly the most slippery from representing in money related or quantitative terms. Some[? ][x] contend that HC is the most dynamic worth driver in the business world today. Scholarly Capital (InC) has been on occasion introduced under various names, as well: (Patents and brand names[? ][xi]( or Social Capital (the last is a meaning of a half and half of Human Capital and Organizational Capital. ) InC, uniquely is protected innovation that originate from (or identify with) development inside the entity(s business. Auxiliary Capital (SC) can be better portrayed that characterized: SC is any influence that can be depicted as far as the connections of capacities inside the association and the influence of substances outside the association. For instance, a client base relationship †qualified or measured †is a SC that can be depicted as an outer relationship; an Enterprise Resource Plan (ERP) that permits offices inside an organization to encourage asset designation is an

Extra Sensory Perception Free Essays

â€Å"Factually validated reports flourish affirming visionary dreams that have prompted the disclosure of a revelation of missing kid, the area of a lost object of significant worth, or the recuperation of a cadaver. (Stinger 68) Frederic W. H. We will compose a custom article test on Extra Sensory Perception or then again any comparative subject just for you Request Now Myers was a savant who established the Society for Psychical Research SPUR). The SPUR shaped the Thought-Transference Committee to frame investigations of the individuals who accepted they had ESP.. Reverend Creepy disclosed that he accepted to the Thought - Transference Committee that every one of the four of his girls had the clairvoyance capacity. Every one of his little girls could guess people’s thoughts and playing a game of cards that were removed arbitrarily from the deck. While they were being tried on their capacity, the little girls had 382 tests to effectively distinguish the card number and the suit. Out Of those occasions the young ladies recognized 202 of the cards effectively. There was one occurrence when en of the little girls referenced 1 7 cards straight effectively suits and everything. â€Å"On a few events individual Creepy sisters had the option to effectively name five cards in succession. Barrett said the chances of this event by chance were â€Å"over 142 million to one. † (Killeen 20) The SPUR individuals went likewise went into a greater amount of the unconstrained clairvoyance. Dry. Joseph B. Rhine has numerous examinations including extra tactile recognition at Duke University.. Rhine imagined that a customary fifty two pack of cards would be progressively hard for card guessers since you would need to decide the shading ( red or dark) , he number and the suit (spade, club, heart or jewel). The trials extraordinarily made cards known as Keener cards which were begun from a therapist known as Karl E. Quicker who Rhine counseled his issue to. These cards were made out of twenty five cards with each card having an image The images on the Keener cards incorporated a cross, a star, wavy lines, a square and a circle. Rhine accepted that the cards were extremely helpful for instance of the Celery sisters who accepted they had extra tangible observation because of the numerous cards that were effectively given. With the Keener card strategy the chances cap the subject answers effectively by chance is just 20% since it’s a one out of five possibility of getting the image right. Rhine kept on testing several analyses with these Keener cards with understudy chips in so their outcomes differed. However, one understudy grabbed his eye and was vastly different than the remainder of the understudies. The most effective method to refer to Extra Sensory Perception, Papers

Blog Archive mbaMission Releases Updated Free Insiders Guides for 20172018

Blog Archive mbaMission Releases Updated Free Insider’s Guides for 2017â€"2018 How well do you know your target MBA program? MBA applicants tend to view the leading schools as stereotypes, thereby targeting some programs and bypassing others based on what they think the schools have to offerâ€"but all the top programs are much more dynamic than you might suspect. To help inform today’s MBA hopefuls, we created our school-specific Insider’s Guides, which provide a more comprehensive picture of the resources, environments, activities, and communities at each school, so you can choose the program that is truly best for you. Now, we’ve updated our extensive collection (16 individual school titles!) of Insider’s Guides for the 2017â€"2018 admissions season! Each 70â€"110-page book goes beyond the stereotypes to reveal the true character of the top business schools. Informed by firsthand insight from students, alumni, program representatives, and admissions officers, each guide offers detailed descriptions of the following: Defining characteristics of the school’s location, class size, curriculum, teaching methods, facilities, alumni base/involvement, and rankings Courses, experiential opportunities, faculty, and clubs related to MBAs’ most common career areas (consulting, finance, entrepreneurship, etc.) The admissions committee’s stance on GMAT/GRE/TOEFL scores, recommendations, the waitlist, layoffs/unemployment, and other application elements Notable professors and social/community events Special year-over-year tables of rankings, class profile statistics, and top industries for each program Download your free copy of each of our comprehensive Insider’s Guides today! Share ThisTweet Business School News

The Role Of Socialization And Gender Roles - 852 Words

INTRODUCTIOn tell me what you are focussing on†¦..family and theirgender roles Socialisation is the process by which a child learns to respect his or her environmental laws such as norms, values and customs. Socialisation helps the infant gradually become self-aware and a knowledgeable person, skilled in the ways of the culture into which he or she is born. Children within the primary socialisation of the family learn a great deal from parents and other care givers such as grandparents, grandmothers, child-minders and baby-sitters, siblings and neighbours. People who successfully come through primary socialisation to be well adjusted individuals then progress to secondary agents of socialisation, such as education, employment and the media. Within contemporary Western society it is very important to socialise people to know their gender identity. Gender identity and the roles of males and females within socialisation begins from the moment you are born and your biological sex has been identified whether a girl or a boy. Gender roles are developed after birth through the agents of both primary and secondary socialisation. According to the Marxist perspective the agents help to reinforce the gender stereotypes, which are a negative product of patriarchal influences which take place first within the family. For example, according to the functionalists the family performs several essential functions for society. It socialises children and provides practical support forShow MoreRelatedGender Socialization And Gender Roles998 Words   |  4 Pagesattention to the gender equality issues many societies face. Is this increased awareness helping towards a neutral gendered socialization process which will inevitably eliminate the inequality? Gender socialization is the process where an individual is impacted by agents of socializa tion through their life stages which consequently creates the gender roles we see in today’s society. The only way to start working towards a gender equal world is by making changes towards the gender socialization process. GenderRead MoreSocialization Of Gender Roles1524 Words   |  7 Pagesborn, we are born into a world of conformity and obedience. Early in our lives, we look at authority figures like parents or teachers as these sentinels of guidance, as omnipotent beings with unwavering precision in their lessons. The concept of socialization is very perplexed, and it’s difficult to identify the variables that shape our development as we grow. As children, we communicate with the world free of inhibition, and find no fault in any of our actions; we could throw a tantrum and no one wouldRead MoreGender Socialization And Gender Roles999 Words   |  4 PagesEarly gender socialization is perhaps one of the most relevant issues and debates of early childhood. The beginnings of stereotypes for gender roles are typically established at birth, and continue a process of learning specific cultural roles and standards in accordance with the sex of the individual. Gendered interactions begin early in the family and hence influence the process of gendered socialization, as was such the case for myself growing up. Socialization comes from a number of sources:Read MoreGender Roles And Gender Socialization985 Words   |  4 PagesForum 1: Gender Roles and Gender Socialization 1.   Explain why gender is not a property of individuals but rather a feature of social situations.   Give specific examples, including your own experiences, in which gender differences were assumed to be natural but were really social constructed. Note: It helps to distinguish between the concepts of sex and gender in answering this question (see definitions in Chapter 3 and lecture notes). Gender is not a property of individual because it providesRead MoreGender Socialization And Gender Roles1452 Words   |  6 Pages120 Professor Lessor 5/14/2016 Gender role in socialization Gender socialization and gender roles have always existed in society. Gender roles are playing major part in our way of living. As we grow, we learn how to behave and respect from those surrounding us as well as children learn at a young age what it means to be a boy or a girl in our society . there are certain roles placed on boys and girls in accordance with their gender. These gender roles are set on children from birth andRead MoreGender Socialization And Gender Roles Essay2371 Words   |  10 PagesSociety has this unknown expectation for genders to have a type of distinction toward one another, attitudes and behaviors that males and females are required to have. Gender socialization is society’s way to categorize the propensity for males and females to be socialized differently. Media, violence, even politics has a large contribution to the division among genders in the 21st century creating by creating a new culture of independents. Media has been promoted very sele ctively and carefully,Read MoreGender Socialization and Gender Roles Essay1184 Words   |  5 PagesGender socialization and gender roles have always existed in society. When analyzing gender roles, they are not always equal or consistent when comparing cultures, however, the expectations of females and males are often times clearly defined with a little to no common area. The Japanese culture is an example of the defined gender roles that change over time. According to Schafer (2010), because â€Å"gender roles are society’s expectations of the proper behavior, attitudes, and activities of males andRead MoreThe Role Of Socialization On Gender Identity2394 Words   |  10 PagesThe Influence of Socialization on Gender Identity Gender-Role Conformity As evident from the generalized patterns found in differences in behaviour and outlook observed between the sexes, it may be tempting, as has been done in the past, to conclude that gender is an unavoidable aspect of human existence as determined purely from one s genes. Indeed, human physiology is subject to sexual dimorphism; statistically significant differences in brain size and rate of maturation of specific substructuresRead MoreGender Socialization Is The Process Of Learning Gender Roles And Expectations1177 Words   |  5 Pagestradition of gender socialization that facilitates prejudicial practices within the work environment. Gender socialization is the process of learning gender roles and expectations. It is what determines which things are considered masculine or feminine. This process tends to reinforce traditional gender ideologies. The cult of domesticity, or the idea that a woman’s place is in the home taking care of children while the man works, is one prominent expression of traditional gender roles. During childhoodRead MoreEssay about Socialization and the Learning of Gender Roles886 Words   |  4 PagesThe term socialization refers to the â€Å"lifelong social experience by which individuals develop their human potential and learn culture.† [Macionis et al. p 55] The concept of socialization is that our actions are driven/learned by culture. Socialization is also the foundation of personality, which we build by internalizing our surroundings. Through the lifelong process of socialization, society transmits culture from one generation to the next. A good example of socialization is the learning of gender

Diversity Is The Co Existence Of Employees - 969 Words

Diversity in organisations, is the co-existence of employees from various socio-cultural backgrounds, working together to achieve a common goal (Prasad, 2012). Diversity refers to the physical and cultural differences between employees of the organisation. Diversity tends to take two forms: the diversity present in groups, communities, and nations, and the diversity acquired through individual’s personal experiences (Galinsky et al., 2015). Employees from different countries and backgrounds contribute to varied cultural norms, beliefs, customs, and values. While diversity as far as the physical differences are concerned, pertain to the differences in age and sex. Over the years, researchers have found that a well-developed and a well-maintained diverse organisation is a good business practice and offers considerable benefits to the organisation. With the globalisation of businesses, the need to have managers and salespeople who can understand overseas customers is on the rise. A firm with a reputation for providing opportunities will have a competitive advantage in the labour market and will be sought out by the most qualified employees (Hunsaker and Alessandra, 2008). The productivity of the workforce is enhanced, when managers realise the potential of diversity and recognise that each person has the potential to bring distinguishable value to the team. Diversity acknowledges and uses inherent differences to drive innovation as a way of creating better organisationalShow MoreRelatedThe Multicultural Workforce Essay1653 Words   |  7 Pagesa growing company. But it is the diversity of a multicultural workforce that is the actual drive of the business. Telecommunication is the fastest way businesses are conducted all over the world. Employees would be lost without the aide of their computers, fax machines, and cellular phones. These machines not only make the work load process smoother and faster, but it also gets results quicker. In order for a corporation to strive and have a long existence, there are several key points thatRead MoreReligion and Spirituality in the Workplace Essay1680 Words   |  7 Pagescan help encourage religious understanding by offering panel discussions that educate employees on their beliefs. By allowing open discussion, answering religious questions and creating an open, welcoming religious environment in the workplace employees can better relate to one another through shared religious principles (Caà ±as Sondak, 2010). When looking at the business case for diversity, not asking employees to hide their faith at work allows for greater productivity, and time and energy focusedRead MoreStrategic Ana lysis : Strategic Human Resource Management Essay1426 Words   |  6 Pagesprovide the transition amongst its employees as well as hiring new employees of a golden age. The HRM team must plan for future replacement of these workers; however, due to their vast experience, it won’t be an easy task with simply obtaining new qualified workers. One proposition would require coordinating seasoned employees with newer staff to be able to transfer some of the knowledge beforehand. Ongoing training programs that involves both sets of employees to promote cross-training could proveRead MoreA Brief Note On Race And Gender, And The Family Medical Leave Act Essay1493 Words   |  6 PagesAlthough issues relating to race and gender are what most people think of about diversity, the HR team must be more knowledgeable than just the obvious about diversity including additional legislation. For instance, the Age discrimination in Employment Act, the Americans with Disabilities Act, and the Family Medical leave Act are just a few of the legalities that HR needs to implement into their organization. Another consideration for HRM is modifications regarding recruitment strategy such asRead MoreThe Structure Of The Organization Network Approach Will Mirror Its Level Of Success969 Words   |  4 PagesCohesiveness amongst employees, within an organization, is detrimental to the success of an organization. Enhancing the knowledge and skills of each employee will rightfully advance their level of confidence, which will improve their work performance. By conditioning each employee’s specific talents, the organization will thrive tremendously which will hopefully increase its revenue. In sequence, Organizations who staff a diverse group of individuals are more likely to achieve a higher level ofRead MoreNordstrom, Inc. And Canada1014 Words   |  5 Pagesand Canada (Nordstrom Company History). The company employs about 67,000 people. For the financial year ending January 2015, they recorded revenue at $13 million (Company Profile Nordstrom, Inc., 2016). The company’s number one goal since their existence has been to provide the customer with the best possible service (Nordstrom About Us). Improving customer service, offering them the best selection, quality, and value (Nordstrom Company History) is at the core of the business. The companyRead MoreAnalysis Of Treton Communication, Inc.1247 Words   |  5 Pagesopportunity/anti-discrimination; diversity; and the harassment policy. However, when company policies are not upheld and internal investigations are not conducted its difficult to eliminate all possible illegal behavior. The purpose of an internal investigation is to decrease and or eliminate the number of employees whom are committing illegal policy practices which direct defy internal procedures. Therefore, it’s of significant importance that the equal employment opportunity/anti-discrimination; diversity; and the harassmentRead MoreSouthwest Airlines: From the Beginning 1151 Words   |  5 PagesSouthwest Airlines roots can be traced back to Texas in the 1960’s where a company by the name of Air Southwest Co. was created to provide in terstate flights in Texas to avoid federal aviation laws. This technique of trying to avoid federal regulation was challenged when 3 other major airlines filed a lawsuit against Air Southwest Co.; later the state of Texas upheld Air Southwest Co. right to fly within the state of Texas and the Supreme Court decided not to review the case. (Southwest AirlinesRead MoreNordstrom, Inc. Company Profile Essay829 Words   |  4 Pagesfull-line stores (Company History, n.d.). The company employs about 67,000 people. For the financial year ending January 2015, they recorded revenue at $13 million (Nordstrom Inc.: Company profile, 2016). The company’s number one goal since their existence has been to provide the customer with the best possible service (About Us, n.d.). They excel in customer service, which can be considered as one of their main strengths (see Appendix B for more detailed information about the SWOT analysis). Read MoreOrganizational Culture And Its Impact On Business Performance1288 Words   |  6 Pagesperceptions, ideologies and beliefs that present the suitable and unsuitable behaviours to the organisation’s employees. .These principles have a huge effect on employee attitudes and overall organisational performance. Corporate culture could become one of the organisation’s strongest assets or its biggest liability, based on strategies utilised by managers to share customs and values with employees. . The culture, traditions and shared values within an organisation could lead to in enhanced corporate

Learning About Anorexia Essay - 499 Words

Learning About Anorexia Anorexia. What is it? The dictionary describes anorexia nervosa as a mental illness in which a person has an intense fear of gaining weight and a distorted perception of their weight and body shape. In simple terms, this means that people with this illness believe themselves to be fat even when their weight is so low that their health is in danger. Also, a person with anorexia nervosa strictly controls what he/she eats and usually becomes extremely thin. Anorexia is said to be a mental illness but it is also an eating disorder, which mostly affects women and teenagers. Another eating disorder that is common in teenagers is Bulimia nervosa. Bulimia is a pattern of eating†¦show more content†¦Ã‚ · A family history of depression or an eating disorder.  · Severe family problems.  · A history of sexual abuse.  · Extreme social pressures.  · Fear of change. There are many more factors that cause anorexia and some believe that it is only a more severe form of the normal insecurities and fears of becoming fat teenagers have. But the most important question we have to ask is, what drives teenagers to these extremes? Only then we will be able to move forward and find a cure. The reason why I gave in to Anorexia is because I wanted to be accepted, and fix my imperfections, said a recovering anorexic. Our culture is preoccupied with appearance. Everywhere you look and especially in the media, there is something that relates to being thin; adverts for diet pills, healthy diets or exercise machines featuring extremely thin models. With all these pressures and ideas set, many teenagers are turning to anorexia to become thin. Nowadays, this disorder is becoming an enormous problem amongst teenagers. Anorexics suffer from many problems other than starvation such as irregular blood pressure, anaemia, insomnia, and feeling depressed or anxious. 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Anorexia nervosa is the fear of gaining weight. IfRead MoreForce Feeding Anorexic Patients: Is This Practice Doing More Harm Than Good?1384 Words   |  6 Pagesmy high school best friends was diagnosed with anorexia my junior year of high school. Her condition was not severe, but still very serious because it led her to attempt to kill herself. After coming back to school from being in a mental health institution, she had gained weight from being forced to eat and was more than ever determined to lose the weight that she had gained. Clearly, being forced to eat made her condition worse. Patients with anorexia nervosa who are alarmingly thin, around 15% orRead MoreAnorexia Nervos A Serious Disease996 Words   |  4 PagesIntroduction Anorexia nervosa is a very serious disease that involves the mind and the body. This paper will describe the disease itself, signs and symptoms, diagnostic measures, treatment and complications, and nursing considerations. 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Every person who has had Anorexia will tell you how miserable and terrifiedRead MoreThe Feeding An Eating Disorder829 Words   |  4 Pagesan eating disorder chapter in â€Å"Adult Psychopathology and Diagnosis†, was a helpful educational component for my overall knowledge and comprehension of how to properly diagnosis the three major eating and feeding disorders: Binge Eating Disorder, Anorexia Nervosa, and Bulimia Nervosa. Reading the text was helpful to my understanding of the material, but the videos and articles projected more distinct content that I would not have been able to completely under stand just by reading the course material

Strategic Management Concepts and Cases

Question: Discuss about the Strategic Management for Concepts and Cases. Answer: Introduction According to Jurevicius, (2013), the term strategic management can be defined as a continuous process which involves analysis, planning, implementation and monitoring which an organization uses to achieve its objectives and goals to compete in the market. An organization has various management strategies to mobilize its resources for better performance in the market. Due to the changing nature of the economy and market trends, strategic management of an organization need not be static. This suggests that the organization has to keep on revising its management strategies from time to time so as to adapt to changes. Strategic management practices of an organization determine its success. By having strong strategic management plans, an organization gains a competitive advantage over its competitors in the same market. The study will identify three strategic management theoretical practices which will be discussed in detail. It will also focus on strategic management practices of the National Australian Bank (NAB) and the theoretical concepts of strategic management and their managerial influence on NAB. The strategic management practices in NAB will be reflected, and recommendations on how they can improve their strategic management practices will be given. Strategic management theoretical concepts According to Newton (2017), theoretical concepts of strategic management are essential in every organization as they determine the organization's culture. The management should come up with valid concepts, and they pass them over to all employees. This creates an organized working environment which is good for the performance of the organization. The theoretical concept in an organization guide the decision-making process of an organization, the behavior of the workers as well as the coordination of activities in the organization. Transaction cost economics theory argues on whether an organization should internally make or externally buy some of it inputs or services. This theory is applicable in different business levels including industries, the organization most importantly on matters related to financing such as the suitability of internal or external source of financing sources. It is also applicable in deciding market entry strategies that an organization and in employee management and compensation issues facing an organization (Leonard, 2014). The gaps in the assumption of the early economic thinking fueled the proposing of the transaction economic theory. The classical economists in the late 1930s and the early 1940s held on three assumptions; The assumed that the markets were efficient. The organization should focus on minimizing costs while maximizing profits. Perfect knowledge of the market influenced decision making in an organization. According to Leonard (2014), Ronald Coase an economist from Britain did not agree with the assumption that markets were efficient since, if they were efficient, firms would be nonexistent. According to Coase (1937) as cited by Leonard (2014) in his essay, The Nature of the Firm. he had discovered that transaction cost was high compared to the prices of goods or services. He observed that during transactions between trading partners, bargaining and while gathering information, costs were created. He argued that internal production of goods and services would be cheaper since excess transaction costs would be avoided. Coase introduced the concepts of inefficient market and transaction cost though he did not elaborate on what were the transaction costs. (Martins et al., 2010) Herbert Simon made a change in the economic theory. As a behavioral scientist, he argued that a rational man did not exist as decisions were made with the aim of satisfying the need. Later on while in Carnegie school, Simon together with Richard Cyert and James March influenced the economics department and led to the establishment of what was called the freshwater economics; a new approach that stressed on changing economic and quantitative aspects of economic decision making in an organization (Leonard, 2014). National Australia Bank established an international expansion strategy which for thirty years became a failure. The Bank had to come up with new strategies to end its woes. According to McConnel (2016), the establishment of this strategy came to haunt the success of the bank in Australia and also internationally. In February 2016, the National Australia Bank announced that it had successfully separated with Clydesdale/ Yorkshire Bank (CYBG) though the separation would result in an estimated loss of $ 4.2 billion dollars. This marked the end of an international expansion strategy of NAB. The strategy had yielded little success in business growth since expanding the organization internationally had prevented the organization from focusing on its corporate strategy. NAB had started its international strategy in 1987 when it purchased Clydesdale Bank in the Republic of North Ireland which under Midland Bank of UK. In the following years, Nab continued buying out other Banks in foreign countries. In 1990 they Purchased Yorkshire Bank in England whose headquarters were in Leeds, in 1992 it acquired the Bank of New Zealand (BNZ) and then US based Michigan National Corporation (MNC) in 1995. In 1997 during its annual report, NAB outlined its success, and a vision of becoming a leading financial service company in the world was unleashed. Following this success, the bank built its headquarter in Melbourne where other branches in Europe were served. As a leading financial services company, NAB revealed its plans to develop online banking services in Australia and New Zealand and offer telephone banking services in the UK and USA. NAB continued implementing its international expansion strategy, and in 1998, they acquired HomeSide Inc, which by then was among the largest mortgage service companies in the US. By purchasing the MNC Life Limited in 2000, they awakened the large banks in Australia who started acquiring the local insurance and investment companies to offer universal services to their customers. In the early 2000s, crisis challenges started to appear in what NAB had thought would be a good expansion strategy. The complexity of the US mortgage market forced NAB to sell HomesSide operation in 2002 making a loss of over US$ 2billion. NAB had only acquired banks that were operating in the peripheral in North Ireland, Scotland and Michigan. The problem in managing the other branches from Melbourne continued, and in 2004, NAB had to exit the Irish banking operations by selling the Northern Bank and National Irish Bank. By 2009, a new CEO called Cameron Clyne announced a change in strategy that would see NAB focus more on the Australian market. The acquisition of Banks in other countries by NAB was opportunistic rather than strategic since they contributed little to the success of NAB in the Australian businesses. From this failure of strategy by NAB, we see the need for applying transaction cost economic theory. This would have helped NAB to identify a better strategy based on strategy and not opportunity. By acquiring peripheral banks rather than a major financial corporation, contributed greatly to the failure of its international expansion strategy. Resource based view According to Jurevicius (2013), the proponents of this view argued that an organization should internally find sources of competitive advantage rather than seek a competitive environment for it. Resource based view urges the organizations to innovate new ways of using resources that they have in exploiting external opportunities. This model of strategic management is important in helping companies experience better performance through effective utilization of resources. An organizations resources can be in two forms; tangible and intangible. According to Jurevicius (2013), tangible resources refers to physical assets such as vehicles, machinery, land among others. These type of resources can be purchased from the market and therefore accessible to every organization. By Acquiring them, the organization offers a little advantage over its competitors for a short period since they can also purchase them. Intangible resources refer to non-physical assets that an organization can own. They include trademarks, intellectual property, patent right among others. Intangible assets cannot be bought from the market like tangible assets, so they cannot be accessed by the competitor organization. Therefore, intangible assets determine the competitive advantage of an organization that can be sustained for a long time. Assumptions of Resource based view According to Rothaermel (2012,) resource-based view has two major assumptions that resources must be heterogeneous and immobile. Rothaermel argues that the resources of an organization must be heterogeneous, that is, the resources that an organization owns must be different from those of another company. By having similar resources in the organizations, competitive advantage would not exist simply because, when one company implements a change in its operation, other companies would do the same. Resource based view assumes that the utilization of different resources by organization creates competition. Resource based view assumes that the resources of an organization should be immobile, this means that resources should not move from one organization to another. Immobility of an organizations resources prevents other organizations from copying its resources and implement their strategy. Intangible resources of an organization are usually immobile. Since intangible resources give the organization competitive advantage over its rivals by being immobile, this helps the organization in sustaining its competitive advantage for a long time. By understanding the resource based view, we can now analyze how this concept influenced managerial practices of NAB. NAB focused on the competitive environment in its quest to utilize the financial service opportunities at the international markets. They did not strategize to utilize their internal resources, but they opted to use external resources to seize the opportunities available. They did so by acquiring banks from their target niches, a strategy that failed to work. Had they tried out to market their services in those countries , they could have gained a better position in the market. Purchasing an existing business organization may have adverse effects because if they have a negative reputation from the consumers, it would be difficult to amend it. Knowledge-based view (KBV) Robert Grant (1996) Robert Grant is the proponent of knowledge-based view. KBV focuses on the importance of knowledge as a resource. KBV asserts that, individuals and not the organization hold and maintains knowledge. He categorized knowledge into two forms; tacit and explicit knowledge. Tacit knowledge refers to knowledge that individual gain through experience or action. Tacit knowledge is implicit and therefore functions at a subconscious level. The implicit nature of tacit knowledge makes it difficult to articulate and share it within the organization. Explicit knowledge refers to information that can be articulated, documented and can be shared within the organization. KBV recognizes tacit knowledge as the source of organizational knowledge. Since it is highly immobile and cannot be imitated, it is therefore considered to be the most important strategic resource of any organization (Leonard, 2014) Organizations can retain their knowledge for a long time, and hence they can use it as a competitive advantage. An organization can best utilize their knowledge resources by ensuring that specialized knowledge possessed by their employees is well coordinated through rules, directives, ensuring everyone participates in solving problems in the organization and also by involving the employees in decision making. The knowledge sharing in an organization should be formalized by ensuring expert knowledge and procedures are kept in written form where every member of the organization can access. Developing a good system of communication is vital in ensuring effective sharing of knowledge among the members of the organization. KBV recommends that an organization should have a common base of knowledge. This makes it easy to share knowledge in an organization. This also creates coordination and individuals with specialized knowledge can disseminate it to others since knowledge within an organization should be mobile. To enhance information sharing, NAB signed contracts with leading financial institutions, Israels Bank Leumi and Canadian Imperial Bank of Commerce (CIBC) where they formed and international banking innovation alliance. According to NAB Executive General Manager Jonathan Davey, the alliance would allow NAB to access vital international innovations and in sights that would help their partners to develop products and services together to improve their service delivery to customers (National Australia Bank, 2016) According to Davey, joining hand with like-minded international organizations would help NAB gain world-class insights that would help them satisfy their customers even better. NAB has already partnered with CIBC in using the Ripples blockchain technology which they use to complete international payments transfers between the two organizations and also between their branches. NAB is now forming collaborations with leading financial institutions this will encourage innovation in the bank which will help them reach their visions. This will increase their competitive advantage and therefore help them regain their status. Recommendations NAB should apply business continuity management plan. According to Andrew (2010), business continuity management plan is formulated in advance in preparation of a future occurrence. This is an important approach to managing risks like the ones that faced NAB in its International Expansion strategy which failed. A business continuity management plan is important for all organization across all sectors regardless of their size. This is because it would help the organization thrive even after unexpected occurrences that dent their vision takes place. Elliot et al. (2010), suggests that a business continuity plan in any organizations requires two elements; The organization must create conditions that make it easy to implement business continuity plan. For example efficient communication system, reward systems, and skill enhancement programs for the staff and good leadership systems (Andrew, 2010). The organization must also have a defined organizational structure. This will make it easy for the organization to implement the business continuity plan after the occurrence of unexpected drawback (Elliot et al.(2010). Before embarking on the international expansion strategy, NAB should do a thorough research on the markets that it wants to venture. This will prevent future disappointments and losses like the one experienced after selling HomeSide Mortgage Company in the US. Before acquiring another institution is good to research on it performance and reputation NAB ended up losing all its branches that they had acquired in Europe because they were not competitive enough in their local markets which resulted in their failure. A common headquarter is important for any organizations, but on international levels, the organization should try as much as possible to develop strategies based on the location of it branches this is because the different business environment will require different approaches. A single strategy cannot be implemented universally and get similar results. This is because markets are different and each market has its competitors, therefore, the need for a unique strategy of operation and marketing of the organization in different countries. Conclusion The concept of strategic management is important in every organization. For an organization to have a competitive advantage in the market, it must observe and apply the theoretical concepts of strategic management. An organization potential to grow and develop mainly relies on its strategic plans. Before venturing into a project, an organization should have a well-documented management strategy which can be used for a successful implementation of the project. References Andrew, C., (2010). Revising Basel 2: The Impact of the Financial Crisis and Implications for the Developing Countries. New York and Geneva: United Nations (G-24 Discussion Paper series June 2010 UNCTAD). Elliott, D., Swartz, E. Herbane,(2010). 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