How to Write Management Essay Full Guide

How to Write Management Essay Full Guide Need advice on how to cope with your management essay? There is a common misconception that management skills are important only for leaders. That is not true. Everyone needs to have a good understanding of the essential management concepts such as planning, coordinating, and organizing that very important for all employees in any organization. So you have to master your knowledge and skills in management if you want to have a successful career after your graduation. Reading books is not enough and you will need a lot of practice to master the key concepts in management. Management essay is a common assignment that is used to test how students can apply their skills to solve different management issues and demonstrate their critical thinking. Keep reading to learn how to write an awesome management essay and impress your instructor. What Is a Management Essay? Actually, your management essay doesn’t differ much from other academic papers. Its primary goal is to assess students’ knowledge of particular topics and their analytical skills. But it’s a creative task as well. Besides, you have to demonstrate your ability to apply your theoretical knowledge to practice and that’s why management essay differs from other academic assignments that are mostly aimed to evaluate knowledge of theoretical concepts. It’s not enough to use bookish terms to explain some ideas and provide a bunch of stats if you want to succeed. You should provide an in-depth analysis of your topic, for example, conflict management or management of human resources, and explain how the concepts you discuss in your paper can be used to provide some real-life outcomes. You should highlight your abilities to act in real life situations in a business environment and demonstrate your own style of thought and essay writing. Now let’s discuss how to choose a good topic for an impressive essay on management. How to Choose a Great Topic for an Essay in Management Typically topics or prompts for writing college essays are given by the instructors and that makes things much easier because you will not need to spend a lot of time on doing research and brainstorming your essay topic ideas. But if you have to choose a topic for writing your essay on your own, you might feel at a loss. Here are some aspects you should consider when deciding what topic to pick. First, you should think about some management issues you are interested in. In this case, you will enjoy doing research and writing and are more likely to sound more convincing and impress your audience. Just make sure you write about practical, actionable business questions like management challenges in the 21st century or the big issues facing HR management etc. You can use another approach and write about some relatively new and unexplored concepts. In this case, your management essay will be interesting to read and it won’t sound dull. For example, you can write about issues facing business management today like making connections, talent management, employee appreciation, and their career development. Besides, you should do a research and make sure that your topic is broad enough and you will be able to find a lot of sources on it. At the same time, you should narrow your management essay topic to make it manageable within the word count of your essay. Lack interesting ideas for your management writing project? Have a look at our short list of impressive management essay topics and feel free to use them for creating your own college papers. Strategic Management in the Automobile Industry; Impact of Culture Revolution on Recruitment and Selection; The Role of the Project Manager in Achieving Client Satisfaction; The Importance of Good Leadership for a Business; Human Resources: Steps to Building an Effective Team; Building an Effective Talent Management Strategy; Tactics to Improve Employee Development Programs; Leadership Skills Assessment; Components of an Effective Information Management Strategy; Ways to Maximize Employees’ Competencies and Performance. Before You Start Writing Your Essay: Research Ideas from Our Writers When you have chosen a good topic you are interested in, you should do research using primary and secondary relevant sources. You should avoid Wikipedia because it’s not an academic source although you can use it when starting a research stage to get a general idea of the topic. You are likely to work with 4 types of sources: books which place the subject of your essay in a broad context; texts that focus on a specific aspect of the subject; relevant articles in academic journals; articles in the business press and financial magazines. You can look for sources online and take books from your college library. While reading, you may want to take some preliminary notes about the key ideas, interpretations, and arguments that you may use for developing your own argument, paraphrasing or direct citing. Here are some practical tips on how to organize a  Ã‚   process better and be more productive: Use abbreviations and headings. It will save you a lot of time when sorting your notes because you will not need to reread very long and elaborate sentences; Use uncluttered notes to speed the process of writing. Start taking notes for every article or book on a separate sheet of paper and write only on one side leaving additional margins for afterthoughts; When you start a new text, jot down information about the author and the title on the top of the page and write the number of a page in the margins. You will be able to use this information when writing your Reference page. Organization of a Strong Management Essay When you have done the research and completed taking notes, you need to think about how to organize your essay. Now it’s time to make a good outline that will allow you to stay relevant and interpret the set question properly. Your essay should demonstrate a clearly expressed and coherent thought. The typical management essay structure includes an introduction, body paragraphs, and a conclusion. Introduction You can start your essay with some attention grabber: an interesting quote; a provocative question; some statistics; an anecdote etc. A good technique for starting your management essay is to provide an answer to your question directly from the beginning. It will show your readers that you have understood the question and will provide an answer to it. An introduction should also include a strong thesis statement that will help you stay focused on your subject and guide your writing. Besides, you can explain the structure of your paper, why you include particular evidence, and how it can help you support your argument. Body The number of body paragraphs should correspond to the number of logical arguments. You should start your body paragraphs with a topic sentence, and then provide supporting arguments and relevant evidence that proves your ideas. Topic sentences at the beginning of the paragraphs will help your instructor to skim the paragraphs without the need to read every sentence in your essay and the entire essay. Your last sentence in a paragraph will function as a transition that connects the paragraph with the next one. Make sure you use different transitional words and phrases, for example: furthermore moreover last finally next in addition to clarify in other words that is to say consequently for the reason in order that to summarize etc. Don’t jump from one argument to the other. Make sure that each new argument follows the logic of the preceding paragraph. Here your outline will help a lot so you should try to make it as detailed as you can before you start writing. You will not be penalized for reaching a conclusion that your professor personally disagrees if your argument is logical and sound. But you will be penalized if your conclusion is not supported by the evidence you have presented in your essay or if the necessary evidence was omitted. You need to be convincing so you have to present an informed argument. All your major arguments and claims need to be supported by the evidence on which they are based. Wondering how much evidence you need to support each point? Typically, 1 or 2 convincing examples will do but sometimes you may need a more detailed explanation. Conclusion It is actually a short summary of your management essay where you have to restate your thesis statement. The main goal of a concluding paragraph is to make sure you have given the answers to all questions that were asked in the introductory paragraph. You don’t have to provide a lot of details here and should try to be concise. If your essay is not long, all the information is fresh in your reader’s mind and there is no need to repeat it again. But if your essay is lengthy, you can sum up the major points that you have analyzed in your conclusion. When writing your management essay, you need to take care of the neat sentence construction and proper grammar because they are the key components of clarity. Besides, you should avoid slang, jargon, and clichà ©s that are usually penalized. Don’t write too much and don’t exceed the specific word limit. Remember that the length of an essay and its quality are not the same. If your essay is too long, it may just indicate that you failed to master the research material and choose everything that is relevant to the subject of your essay. Revise Your Draft and Make Improvements When you have finished writing your first draft, you will need to revise it more than once. You need to reread your essay and make sure it is organized logically and written clearly and concisely. You have to check the logic and the flow and eliminate wordiness by omitting unnecessary words and sentences. For example, check your introduction and make it shorter. Just read your management essay again and think if you can say the same things in fewer words or in shorter sentences. Make sure there are transitions between your paragraphs. It’s important that your writing style should be powerful to make your arguments more persuasive. When you are satisfied with the content of your management essay, you need to edit and proofread it and make your good essay great. Here is what you need to do: improve word choice; correct grammar and spelling mistakes; check punctuation, for example, the use of commas. When you finish editing, you have to put your management essay aside for some time and re-read it later. Here your goal is to do a final check and fix small grammar and spelling mistakes and typos that may have overlooked when writing and revising your management essay. You can use online spell checkers as well. Your next step should be to find a second set of eyes to proofread your essay and ensure that there are no minor mistakes or typos that you may have overlooked. You can your friend or a member of your family to help you with proofreading. Referencing Sources To avoid plagiarism, you have to reference all sources that you have used for writing your management essay when directly citing or paraphrasing them. There are lots of academic styles such as MLA, APA, Harvard, Chicago, and more. When making references, you should follow the guidelines provided by your professor. You should carefully study the instruction to make sure that will be able to meet your instructor’s expectations. If your professor hasn’t specified the preferable formatting style, you can use MLA style. You can find a good MLA style guide on the website of Purdue University. As you see, writing an impressive management essay is not very hard but it is time-consuming. Such essays are important for your GPA and successful career after college so you should work hard and we hope that this management essay writing guide will be useful for you and will help you cope with this typical college assignment.

Indus Civilization Timeline and Description

Indus Civilization Timeline and Description The Indus civilization (also known as the Harappan Civilization, the Indus-Sarasvati or Hakra Civilization and sometimes the Indus Valley Civilization) is one of the oldest societies we know of, including over 2600 known archaeological sites located along the Indus and Sarasvati rivers in Pakistan and India, an area of some 1.6 million square kilometers. The largest known Harappan site is Ganweriwala, located on the bank of the Sarasvati river. Timeline of the Indus Civilization Important sites are listed after each phase. Chalcolithic cultures 4300-3200 BCEarly Harappan 3500-2700 BC (Mohenjo-Daro, Mehrgarh, Jodhpura, Padri)Early Harappan/Mature Harappan Transition 2800-2700 BC (Kumal, Nausharo, Kot Diji, Nari)Mature Harappan 2700-1900 BC (Harappa, Mohenjo-Daro, Shortgua, Lothal, Nari)Late Harappan 1900-1500 BC (Lothal, Bet Dwarka) The earliest settlements of the Harappans were in Baluchistan, Pakistan, beginning about 3500 BC. These sites are an independent outgrowth of Chalcolithic cultures in place in south Asia between 3800-3500 BC. Early Harappan sites built mud brick houses, and carried on long-distance trade.The Mature Harappan sites are located along the Indus and Sarasvati rivers and their tributaries. They lived in planned communities of houses built of mud brick, burnt brick, and chiseled stone. Citadels were built at sites such as Harappa, Mohenjo-Daro, Dholavira and Ropar, with carved stone gateways and fortification walls. Around the citadels were an extensive range of water reservoirs. Trade with Mesopotamia, Egypt and the Persian gulf is in evidence between 2700-1900 BC. Indus Lifestyles Mature Harappan society had three classes, including a religious elite, a trading class class and the poor workers. Art of the Harappan includes bronze figures of men, women, animals, birds and toys cast with the lost was method. Terracotta figurines are rarer, but are known from some sites, as is shell, bone, semiprecious and clay jewelry.Seals carved from steatite squares contain the earliest forms of writing. Almost 6000 inscriptions have been found to date, although they have yet to be deciphered. Scholars are divided about whether the language is likely a form of Proto-Dravidian, Proto-Brahmi or Sanskrit. Early burials were primarily extended with grave goods; later burials were varied. Subsistence and Industry The earliest pottery made in the Harappan region was built beginning about 6000 BC, and included storage jars, perforated cylindrical towers and footed dishes. The copper/bronze industry flourished at sites such as Harappa and Lothal, and copper casting and hammering were used. Shell and bead making industry was very important, particularly at sites such as Chanhu-daro where mass production of beads and seals is in evidence.The Harappan people grew wheat, barley, rice, ragi, jowar, and cotton, and raised cattle, buffalo, sheep, goats and chickens. Camels, elephants, horses, and asses were used as transport. Late Harappan The Harappan civilization ended between about 2000 and 1900 BC, resulting from a combination of environmental factors such as flooding and climatic changes, tectonic activity, and the decline of trade with western societies.   Indus Civilization Research Archaeologists associated with the Indus Valley Civilizations include R.D. Banerji, John Marshall, N. Dikshit, Daya Ram Sahni, Madho Sarup Vats, Mortimer Wheeler. More recent work has been conducted by B.B. Lal, S.R. Rao, M.K. Dhavalikar, G.L. Possehl, J. F. Jarrige, Jonathon Mark Kenoyer, and Deo Prakash Sharma, among many others at the National Museum in New Delhi. Important Harappan Sites Ganweriwala, Rakhigarhi, Dhalewan, Mohenjo-Daro, Dholavira, Harappa, Nausharo, Kot Diji, and Mehrgarh, Padri. Sources An excellent source for detailed information of the Indus civilization and with lots of photographs is Harappa.com. For information on the Indus Script and Sanskrit, see Ancient Writing of India and Asia. Archaeological sites (both on About.com and elsewhere are compiled in Archaeological Sites of the Indus Civilization. A brief Bibliography of the Indus Civilization has also been compiled.

Self-Managed Teams Research Paper Example | Topics and Well Written Essays - 1250 words

Self-Managed Teams - Research Paper Example For example, in a company, there can be two or more functioning self-managed teams with each having a team leader (Cork 146). Members of the self-managed teams, like any other team should have characteristics that bring them together, these are such as; members should have a common goal, should have self esteem, and should also be open when it comes to communication. The members should also respect each other, be involved in conflict resolutions, and lastly, there should be a lot of tolerance and trust within the team (Belasen 149). 2. Types of self-Managed Teams There are two common types of self-managed teams. These are production or service teams and problem solving self- managed teams. Problem-solving self-managed teams. These are intended to identify problems and derive solutions that are initiated by employees and supported by management. These teams typically rely on mapping methods such as flow charts, to target processes for improvement (Belasen 150).They are able to achieve improvement using the following processes: a. Identifying the customers and their requirements. b. Defining the current process to meet the customer’s needs. c. ... 3. Characteristics of Self-Managed Teams A self-managed being one of the many types of teams, has some characteristics that it shares with other types, but there are those that are peculiar to it only. The following are the characteristics of a self-managed team: In self-managed teams, decision making and formal power are transferred to the team. This means that the team is designed in a way that leadership roles and responsibilities are shared (Belasen 150). There is no external supervision; that is, the objectives are adopted internally. In this case, work is designed to give the team ownership (Belasen 150). Being like any other type of team, there is a high level of interdependence. The members of a self-managed team must work together so achieve the common goal they have (Belasen 150). Norms and coercive control replace rules and formal bureaucratic control. Accountability in self-managed teams is collective. So, if one member fails, he or she fails the whole team (Belasen 150). Members of the self-managed team are multiskilled. This enables them to handle all requirements and cover for absent members, without interfering with the performance of the team (Belasen 150). 4. The Advantages (Pros) of Self-Managed Teams in Business Effective communication among the employees in the business. Self-managed teams usually foster communication, because the members of the team share common goals and objectives, and thus networking among the members is very easy, consequently boosting the performance of a business (Pride, Hughes, and Kapoor 297). High production in the business. This is because the members are multi-skilled, thus enabling them to handle all requirements and also cover an absent member. With this, the business is

Critical Thinking Questions Assignment Example | Topics and Well Written Essays - 1000 words

Critical Thinking Questions - Assignment Example A reference source used in a paper must be credible to be conclusive and the authority it possesses makes the source more credible and usable. Primary sources give first-hand information about the subject of research while Secondary Sources give information that has been discussed elsewhere. However Primary and Secondary sources are relative terms and can be described as per the usage of the information. It is described that â€Å"a fallacy is usually incorrect reasoning in argumentation resulting in a misconception.† A logical fallacy is one which is a logical flaw in the argument due to which the argument becomes invalid. A post hoc is a good example of logical fallacy in which people try to link events and deduce conclusions with out considering the other relevant factors. A typical essay includes thesis statement, introductions, body paragraphs and conclusion. The introduction of the essay must be deductive in nature and presented precisely. A good introduction includes to pic of the essay and the background information regarding it. The thesis statement is usually presented in one single statement and author shows his point of view that will be later proved in the body paragraphs through a logical chain of arguments. A thesis statement never asks a question but shows a point of view. A conclusion comprises of a paragraph and concludes the arguments presented in the body paragraphs. The conclusion is basically a summary of the essay. A counter-argument is a reason given by your opposition. The counter-arguments are used in thesis to be evaluated on logic and then answered. Transitions are used to connect different paragraphs and give a complete picture of the essay. c. Integration of Evidence: What is the difference between paraphrasing, summary and direct quotes?

Our Reliance on Computers :: essays research papers fc

â€Å"The society in which we live in has been so profoundly affected by computers that historians refer to the present time as the information age.† (Presley, 16) Comments like this show how computers have changed how we live, work, and play. For example, combined with the Internet, computers have incorporated many forms of communications into a universal one. The computer’s role in the world continues to grow in importance even as we sometimes take it for granted. We must realize how greatly computers have affected our lives. Computers have become such an integral part of our lives because we rely on them for numerical calculations, storage of data, communication, and technological processes.   Ã‚  Ã‚  Ã‚  Ã‚  The idea of computing began at the start of civilization. The computer’s long history makes it, â€Å"†¦ one of the most interesting and important machines ever invented† (Anonymous). Computers are simply complex counting devices. The abacus was an ancient computer which used beads to solve math problems. The abacus was strictly manual and the desire for an automated machine grew. One of the earliest automated machines was invented in the nineteenth century when French weaver, Joseph Jacquard, created a loom that could be programmed. Large hole punched cards were used by the loom to create geometric patterns. Aside from producing beautiful patterns, the punched cards were later modified to become the main form of computer input. The system of punch cards led to the first successful semi-automated computer, a punch-card tabulating machine invented during the 1880s by American Herman Hollerith. It was used to tabulate the results of the U.S. censu s. Each punch card contained the data of each individual. Operators fed the countless cards into the computer. When the spring-mounted nails of the computer passed through the holes of the punch-card, an electric circuit was completed. As seen in diagram C, the results of each card were displayed on rows of dials. Hollerith’s company, the Tabulating Machine Company, was eventually sold and was renamed the International Business Machines Corporation (IBM) in 1911, which still exists today. The first electronic computers were very large and elaborate machines that required a lot of money to build and use. The entire computer industry might never have taken off without government funding. World War II created a need for the U.S. military to calculate missile trajectories quickly, so Dr. John Machly was hired by the military to build a machine for this task.

American civil revised

American civil war of 1861-1865 was the bloodiest war. The fight was between United States (the Union) and the Southern eleven slave states that proclaimed that they had their own rights to secession, thus, forming Confederate states of America which was headed by Jefferson Davis as the President. The United States termed as the Union was made up of Free States together with Border States that were under President Abraham Lincoln lead by the Republican Party. The republicans were against the spreading of slavery into regions governed by the United States (the Union); this increased the desires of secession by the Southern states.Nevertheless, the republicans refused to accept any secession rights from the Southern states. This then led to the civil war which broke up on April of 1861, when Southern States forces attacked a military installation of United States (union) located at Fort Sumter, in the South of Carolina, which was the very first state to secede. (Holt, 1978) Causes of t he civil war Many historians argue that the civil war was caused by slavery issues. However, there is no one simple cause of the civil war.The war was caused by complex issues including slavery, party politics, and sectionalism, misunderstandings of federalism, expansionism, economical differences and modernization during that period. All this issues contributed to the war. (Holt, 1978) Slavery Slavery is considered by many historians as the main issue that caused the war; other reasons were directly or indirectly related to slavery. Historian Holt (1978), said, as the 1850s went on, an exacerbating, exhaustive and basically pointless conflict about slavery continued to be the main topic excluding all other issues.As Abraham Lincoln a Northern politician by then pointed out, the issue of slavery was the most important issue than other issues, he further states that â€Å"indeed, so much more important has it become that no other national question can even get a hearing just at pres ent. † (Holt, 1978) The issue of slavery was in relation to competition by sections or states for the control of territories. The demand of the Southern states for a code of slave in the territories was an issue being used by the Southern politicians to divide the Democratic Party in to two. The division of Democratic Party ensured the election of Lincoln and also the secession.Though, Abraham Lincoln did not have immediate plans of abolishing slavery in the South, the Southerners all over the South conveyed fears about the slavery future in the South the moment Lincoln took over, leading to tensions that lead to war. (Holt, 1978) The Southerners were also concerned about economic loss and racial equality that they may loss. In accordance to the Texas Declaration of Causes for Secession, declared that those states that were not holding salves were proclaiming the degrading doctrine that all men were equal irrespective of color or race.According to this declaration, African peo ple were an inferior race. This issue of slavery contributed a lot to the civil war, the Southern states feared losing control of slavery to the federal government. On the hand the Union feared that the power of slavery was already controlling the government. This led to the civil crisis of 1850s. States disagreements about the moral issue of slavery; extent of democracy and the debate about economics of slave plantations labor over free labor caused political unrest in the states.This contributed to the Southern secession which triggered the civil war. (Levine, 1992) Political instability Political instability during that time was so fractured; this contributed a lot to the civil war. Cultural and economic disparities contributed to widen the political differences. Wars between the north and the south grew a lot more heated, particularly after 1850. Politicians and the judiciary of the two regions sent contradictory signals in trying to appease each other. However, all the two part ies were not satisfied.The Georgians (Southerners) felt that the Federal government which was mainly controlled by the Northern industrialists was not responding to their problems in their states. Thus, the Southern states started seceding, this could not be allowed by the Northern states led by President Lincoln. As a result the Southern states opted to use force by attacking the military installation of the United States (the union) the United States (Union) responded and the war began. Therefore, political instability was another cause for the American civil war. (Holt, 1978) Modernization fears by SouthernAnother cause of war was fear of modernization by the south, According to historian’s Foner (1970), when the North abolished slavery and started industrial revolution which resulted to urbanization, improved education and reform activities like abolitionism, the truth that out of eight immigrants seven settled in the North, added to the truth that the number of whites le aving South for North were twice as those leaving North to South, this contributed to aggressive- defensive political activities of the South. These political animosities enhanced the prevailing tensions between the two parts culminating in the civil war.(Foner, 1970) Other historians argue that, people who owned slaves were the highly modernized people in the South. Traditional people were the ones and this group included the middle class whites who had no slave or owned a few number of slaves. The South common people struggled for secession as they believed in a slogan of â€Å"freedom is not possible without slavery† they also believed that slavery led to social equality between whites. On the other hand the Northerners particularly the republicans did have a varied interpretation of the principle of 1776.This varied ideology is among the main causes of tensions between the Southern states and the Northern states and is among the many reason why the two regions had to figh t the civil war. (Foner, 1970) States’ rights The rights of states was another issue that contributed to the war, Debate on if the Union was the one older than states or the other way opposite fueled the on going debate on rights of states. The debate was on if the federal government was should have a lot of power over states or if the federation was just made up of sovereign states that had more powers than the federal, this argument added to the on going controversy.According to Stampp (1956), each part used rights of states arguments to their convenient position and changed positions when not convenient. Stampp (1956) points out that, Vice President Alexander Stephens of the South confederate as one example of the Southern states leader who termed slavery as â€Å"cornerstone of the confederacy† at the beginning of the war. The Vice President further said that, civil war was not in regard to slavery; it was about states rights when the Southern states were defeated. Thus, the issue of states rights created a lot of controversies that were among the many causes of the civil war. (Stampp, 1956) Who or what was to â€Å"blame† for the Civil War What to blame; Slavery The questions remains was the war about slavery? The answer is yes. So slavery was to blame for the war. Supposing that there was no slavery then the war could not have happened. Or supposing that, there was no disagreement about slavery issue, the South probably would not have felt that their culture was being threatened, and the Southern politician would not have sought to protect their â€Å"rights to secede.† (Stampp 1956) However, the war was not only about slavery it was also about the constitutional rights of the states, if it had powers to leave the Union. Though, the North never went to the war to stop slavery, nor did president Abraham Lincoln have an agenda of stopping the war ones he became president, it is clear the differences in understanding of the slaver y issue was a major contribution to the civil war. Being moral issue slavery caused division in political leaders of the South and the North and created the tensions that existed by then leading to the war.(Stampp, 1956) Who to blame; Politicians The main blame of the war goes to the politicians who were political leaders on both sides of the North and the South. The South depended on economic system that relied heavily on slavery, their leaders such as William Lowders Yancey of Alabama and Robert Barnwell Rhett of South Carolina who was known as â€Å"fire eaters† knew that supposing the South lost its slaves, then, it would undergo hard social and economic effects that will ultimately break the economy of the South.(Stampp, 1956) Hence, any political activities that threatened the end of slavery in the South received the whole attention of political leaders of the South many of whom owned slaves and who were ready to go for war to ensure that their â€Å"rights† were protected. These political leaders were able to influence many Southerners that it was important to fight, in convincing the people their mainly justified the war by arguments which indirectly referred to slavery issue. The politicians of the North states were divided concerning the slavery issue and did not intended to go on war over that issue.However, they took a political stand of fighting when war came, similarly they can also be blamed for the war. (Stampp, 1956) Could the war be avoided? Ever since the end of the American war, there have been arguments on whether the war was inevitable or could be avoided. The question illicit different answers according to the perspective one is looking the issue from. The war was inevitable and was bound to happen. This is because the ideologies being held by the South and the North were different.In a situation where political differences are so pronounced it becomes hard for the two opposing sides to solve their differences amicable. Bas ing in mind that, what was at stake was a lot; economic consideration, freedom, democracy and the issue of slavery it could have been hard to avoid the war. In addition the politicians especially from the south felt threaten and had to assert the power. Basically unless there was change of ideology on either side war was inevitable. Conclusion The civil war of America basically occurred because of differences in political ideology brought about by slavery.Slavery was a moral and economical issue that created a big rift between the Southern states and the United States (union). Before the war, fractured political system resulted in widening of the rift. Another reason that caused the war was the need of states to have more freedom by seceding from the federation this coupled with other complex issues especially economic ones were the major reason why the war occurred. In addition politicians particularly from the South who felt that their culture was being threaten also contributed a lot to the war.As mention before slavery was the main cause of this who as one historian puts it â€Å"without slavery there would not have been a civil war. † (Stampp, 1956) Though, the war resulted in a lot of loss of life, damages and injuries, it greatly helped to correct the historical mistake of slavery and to emancipate the slaves, and bring equality and freedom to many slaves. References Foner, E (1970); Free Soil, Free Labor, Free Men; Oxford press Holt, M. F. (1978): Political Crisis of the 1850s; Wiley, Levine, B (1992). Half Slave and Half Free; Hill and Wang, Stampp, K (1956): Peculiar Institution. Knopf

The definitions of Financial Management in Business - Free Essay Example

Sample details Pages: 7 Words: 1990 Downloads: 4 Date added: 2017/06/26 Category Economics Essay Type Compare and contrast essay Did you like this example? Financial management can be defined by: The management of the finances of a business/organization in order to achieve financial objectives. Taking a commercial business as the most common organizational structure the key objectives of financial management would be as follows:- Create wealth for the business. Generate cash and Provide an adequate return on investment bearing in mind the risks that the business is taking and the resources invested. There are three keys elements to the process of financial management:- Financial planning Financial control and Financial decision making FINANCIAL PLANNING: Management need to ensure that enough funding is available at the right time to meet the needs of the business. In the short term funding may be needed to invest in equipment and stocks pay employees and fund sales made on credit. Don’t waste time! Our writers will create an original "The definitions of Financial Management in Business" essay for you Create order FINANCIAL CONTROL: Financial control is a critically important activity to help the business ensure that the business is meeting its objectives financial control addresses question such as:- Are assets being used efficiently? Are the businesses assets secure? Does management act in the best interest of shareholders and in accordance with business rules? FINANCIAL DECISION MAKING: The keys aspects of financial decision-making relate to investment, financing and dividends:- Investments must be financed in some way. However there are always financing alternatives that can be considered. For example it is possible to raise finance from selling new shares, borrowing from banks or taking credit from suppliers. If dividends are too high, the business may be starved of funding to reinvest in growing revenues and profit further. KINGFISHER AIRLINES: INTRODUCTION: Kingfisher airline is one of the seven airlines to be ranked as a five-star airline by the independent research consultancy firm Skytrax. They operate more than 375 daily flights to 71 destinations, with regional and long-haul international services. In May 2009, they also carried more than a million passengers, giving it the highest market share among airlines in India. They also the sponsor of F1 racing outfit, which Vijay Malaya also owns. Kingfisher airlines serve 63 domestic destinations in 8 countries across Asia and Europe. Their short haul routes are mostly domestic apart from some cities in south Asia, Southeast Asia and western Asia. All short haul routes are operated on the airbus A320 family aircraft ATR 42S and ATR 72S are used mainly on domestic regional routes. They have its medium, long haul destination in East Asia, South Asia and Europe. Its first long haul destination was London, United Kingdom. This was launched in September 2008. It has plans to launch new l ong haul flights to cities in Africa, Asia, Europe, North America and Oceania with deliveries of new aircraft. All long haul routes are operated on the airbus 330-200. DEPT. FINANCING FOR A MEDIUM SIZED FOR BOTH THE SHORT -TERM AND LONG -TERM: SHORT TERM FINANCING: Short-Term Financing referring to any investment, financial plan, or anything else lasting for one year or less. Short-term investments and financial plans usually involve less uncertainly than long term investments and financial plan because generally speaking, markets trends are easily predictable for one year than for any longer period likewise, short term financial plans are more easily amendable, as a result of the short time frame short-term financial plans usually involve investing in short term securities, such as T-Bills or Commercial Paper. LONG-TERM FINANCING: Long-Term financing is describing a plan, strategy, security or anything else with a term of longer than one year, the exact number of year varies according to the usage. For example a long term financial plan outline investment and other financial goal for any time more than one fiscal year, while a long term bond has a maturity of 10 or more years. Anything long term involves more uncertainly than anything short-term because generally speaking, market trends are more easily predictable in the short-term. Thus, while planning for the long-term is necessary, ones plan must be flexible to account for its inherent uncertainly. EQUITY FINANCING: Equity financing is a term used for companys issuance of shares of common or preferred stock to raise money. It is also commonly done when its per share prices are high the most money that can be raised for the smallest number of shares. Equity financing also known as capital structure As we can see the equity financing or you can say capital structure of kingfisher airlines as shown in the chart. IMPORTANCE OF FINANCIAL MANAGEMENT: The management of the finances of a business/organization in order to achieve financial objectives. Taking a commercial business as the most common organizational structure the key objectives of financial management would be to as follows: Create wealth for the business. Generate cash, and Provide an adequate return on investment bearing in mind the risks that the business is taking and the resources invested. IMPORTANCE OF CREDIT CONTROL WITHIN A FINANCE DEPARTMENT: A strategy employed by manufacturers and retailers to promote good credit among the creditworthy and deny it to delinquent borrowers. This will both increases sales and decrease debts, thus improving a companys cash flow credits control is an important component in the overall profitability of many firms also known as credit management. Financial control is a critically important activity to help the business ensure that the business is meeting its objectives, financial control addresses question such as Are assets being used efficiently? Are the businesses assets secure? Does management act in the best interest of shareholders and in accordance with business rules? VARIABLE AND FIXED COSTS DURING ECONOMIC DOWNTURNS IN KINGFISHER AIRLINES: Buying the big jets: fleet planning for airline FLEET SIZE ECONOMICS: Fleet size economic alliance due to a major shift in their strategic direction. Although it was not the case, it could have been disasters if Aer lingus had allowed their fleet strategy to be driven by their alliance partners only to find themselves compromised upon leaving the alliances. Airline undoubted reap revenue benefits due to alliance membership but true cost savings in big tickets items such as fleet acquisition may be out of reach for all but a handful of airlines. There will always be institutional obstacles, such as union issues and manufacturing pricing strategies, to airline reaping the fleet cost savings that might be apparent on paper. THE PROBLEM OF EXTERNAL FACTORS: Airline economics have always been affected by external factors, some of which are conditioned of the geographical area in which airlines operate and some of which just conspire to make difficult. The huge fuel price increases of the 2000s affected the entire industry and even those airlines able to hedge the majority of their fuel bill were simply postponing the moment when the higher fuel prices ate into profit margins. INVESTING SPECIFIC AMOUNT OF MONEY IN FINANCIAL MANAGEMENT: There are three keys elements to the process of financial management:- Financial planning Financial control and Financial decision making FINANCIAL PLANNING: Management need to ensure that enough funding is available at the right time to meet the needs of the business. In the short term funding may be needed to invest in equipment and stocks pay employees and fund sales made on credit. FINANCIAL CONTROL: Financial control is a critically important activity to help the business ensure that the business is meeting its objectives financial control addresses question such as:- Are assets being used efficiently? Are the businesses assets secure? Does management act in the best interest of shareholders and in accordance with business rules? FINANCIAL DECISION MAKING: The keys aspects of financial decision-making relate to investment, financing and dividends:- Investments must be financed in some way. However there are always financing alternatives that can be considered. For example it is possible to raise finance from selling new shares, borrowing from banks or taking credit from suppliers. If dividends are too high, the business may be starved of funding to reinvest in growing revenues and profit further. PAYBACK AND DIVIDEND RATIO FOR KINGFISHER AIRLINES: PAYBACK RATIO: The amount of time taken to break even on an investment. Since this method ignores the time value of money and cash flows after the payback period, it can provide only a partial pictures of whether the investments is worthwhile. DIVIDEND RATIO: Five fundamentals reasons I am positive on dividends: Corporate earnings have significantly rebounded from their recessions level and are now approaching record levels low interest rates. Corporate cash on hand stands at an all time high payouts remain low, partly due to the speed of earnings improvements and the slower rate of dividend increases. Coverage rates, earnings dividends are very high. DIVIDEND AND PAYBACK RATIOS OF KINGFISHER AIRLINES: Dividend and payback ratios in RS.CR. JUNE 2007 MARCH 2008 MARCH 2009 MARCH 2010 Adjusted EPS -55.05 -18.64 -60.67 -48.5 Adjusted Cash EPS -51.81 -15.94 -54.22 -40.33 Reported EPS -30.97 -13.85 -60.5 -61.95 Reported Cash EPS -27.73 -11.16 -54.65 -53.78 Dividend Per Share 0 0 0 0 Operating Profit Per Share -19.37 -23.95 -20.8 -35.71 Net Operating Income Per Share 132.89 107.24 198.16 190.59 Free Reserves Per Share 15.46 2.68 -94.05 -167.98 Operating Margin -14.57 -22.32 -10.49 -18.75 Gross Profit Margin -15.55 -23.58 -13.02 -21.94 Net Profit Margin -22.92 -12.5 -27.43 -31.25 Adjusted Cash Margin -38.34 -14.38 -24.58 -20.34 Adjusted Return On Net Worth -209.52 -147.04 0 0 Reported Return On Net Worth -117.87 -109.29 0 0 Return On Long Term Funds -36.27 -36.52 -7.9 -23.99 Long Term Debt / Equity 0.98 3.54 0 0 Total Debt 2.38 4.95 0 0 Owners Funds 29.56 16.8 -63.14 -99.65 Fixed Assets Turnover Ratio 5.37 4.61 2.85 2.47 Current Ratio 2.33 1.71 1.09 1.34 Current Ratio (inc. st loans) 0.79 0.96 0.64 1.34 Quick ratio 2.2 0.87 0.52 0.57 Inventory Turnover Ratio 28.8 0 5,738.39 30.74 Dividend payout Ratio (net profit) 0 0 0 0 Dividend Payout ratio (cash profit) 0 0 0 0 Earning Retention Ratio 0 0 0 0 Cash Earning Retention Ratio 0 0 0 0 Adjusted Cash Flow Time Total Debt 0 0 0 0 Financial Charges Coverage Ratio -0.49 -0.63 0.02 -0.68 Financial Charges Coverage Ratio (post tax) 0.19 0.65 0.29 -0.3 Material Cost Component 2.55 3 0.97 0.8 Selling Cost component 0.99 5.83 12.97 0 Exports As Percent Of Total Sales 18.56 3.42 4.54 13.79 Import Comp. In Raw Materials Co nsumed 0 0 0 0 Long term Assets/Total Assets 0.01 0.03 -0.01 0 Bonus Component in Equity Capital (%) 20.14 20.09 10.26 10.26 PROFIT AND LOSS ACCOUNT OF KINGFISHER AIRLINES: profit and loss account in RS.CR. JUNE 2007 12 MONTHS MARCH 2008 9 MONTHS MARCH 2009 12 MONTHS MARCH 2010 12 MONTHS INCOME SALES TURNOVER 1,800.21 1,456.28 5,269.17 5,067.92 EXCISE DUTY 0 0 0 0 NET SALES 1,800.21 1,456.28 5,269.17 5,067.92 OTHER INCOME 342.1 113.62 598.9 -333.3 STOCK ADJUSTMENTS 0.00 0.00 0.00 0.00 TOTAL INCOME 2,142.31 1,569.00 5,868.07 4,734.62 Raw materials 45.94 43.79 51.19 40.89 Power and fuel costs 979.5 889.3 2,602.62 1,802.99 employee cost 247.72 244.96 825.42 689.38 Other manufacturing expenses 617.56 408.21 1,112.85 1,108.82 Selling and admin expenses 148.78 180.39 1,062.74 1,067.54 Miscellenous expenses 25.11 14.81 167.55 108.58 Preoperative exp capitalised 0.00 0.00 0.00 0.00 TOTAL EXPENSES 2,062.61 1,781.46 5,822.37 4,818.20 JUNE 2007 MARCH 2008 MARCH 2009 MARCH 2010 12 MONTHS 9 MONTHS 12 MONTHS 12 MONTHS OPERATING PROFIT -262.4 -325.18 -553.2 249.72 PBDIT 79.7 -211.56 45.7 -83.58 Interest 466.05 434.44 2029.33 2,243.39 PBDT -386.35 -646 -1,983.63 -2,329.17 Depreciation 17.67 18.28 133.2 162.8 Other written off 26.25 18.31 38.39 54.49 Profit before tax -430.27 -682.59 -2,155.22 -2,546.46 Extra ordinary items 14.09 -0.97 0 31.28 PBT(post extra ord items) -416.18 -683.56 2,155.22 -2,515.18 Tax 3.4 -494.45 -546.38 -770.69 REPORTED NET PROFIT -419.58 -188.14 -1,608.83 1,647.22 Total value addition 2,016.67 1,737.67 5,771.17 4,777.31 Preference dividend 0 0 0 0 Equity dividend 0 0 0.00 0.00 Corporate dividend tax 0 0 0 0 PER SHARE DATA (ANNUALIZED) Shares in issue(lakhs) 1,354.70 1,357.99 2,659.09 2,659.09 Earning per share(Rs) -30.79 -13.85 -60.5 -61.95 Equity dividend (%) 0 0 0 0 Book value (Rs) 28.4 13.9 -83.88 -150.54 CASH FLOW OF KINGFISHER AIRLINES: Cash flow account in RS.CR. JUNE 2007 12 MONTHS MARCH 2008 9 MONTHS MARCH 2009 12 MONTHS MARCH 2010 12 MONTHS NET PROFIT BEFORE TAX -416.18 -682.59 -2155.21 -2417.92 Net cash from operating activities -552.58 -541.52 -645.78 -1665.09 Net cash from investing activities 119.48 13.82 206.63 235.13 Net cash from financing activities 993.68 -9.23 290.11 1964.55 Net(decrease)/Increase in cash and cash equivalents 560.57 -536.93 -149.04 34.6 Opening cash and cash equivalents 256.47 817.05 -320.91 171.87 Closing cash and cash equivalents 817.05 280.12 171.81 206.47 CONCLUSION: After doing a study of this project representing on Kingfisher Airlines, I have come to a conclusion that Kingfisher Airlines is one of the largest and most widespread airlines of the country providing its services not only in India as well as outside India also. It has alliance with many other airlines in this sector. Kingfisher Airlines offers world class services to the customer at a nominal rate. The national carrier takes immense pride in having successfully played a pivotal role in making various facets of India popular with the people of the world and acting as the countrys cultural ambassador. The airline uses the services of one of the advanced plans been operated in the world. To sum up I would like to say that Kingfisher Airlines is serving its customer in an appreciated way and going to be in the list of best services providers in coming years