Category: Business 11471

Capital budgeting is described as the planning procedure that an organization utilizes to determine the investments worth pursuing. Therefore, in the context of capital budgeting, project risk is referred to as uncertainty regarding the profitability of a project. If the potential of a chosen activity has an unknown implication on the forecasted cash flow profitability, then there is the possibility of a threat. The two main techniques through which project risk is incorporated into capital budgeting comprise the risk-adjusted discount rate and the certainty equivalent method (Gapenski & Reiter, 2016). Similar to other investments, threats primarily influence a projects required rate of return (discount rate). To determine the possibility of a risk, companies might use historical data to get an outline of the riskiness of the proposed investment. Nevertheless, there are instances where it is challenging to acquire past information; therefore, the managers have to rely on subjective judgments, which is often the case in capital budgeting (Gapenski & Reiter, 2016). Several types of risks are considered when performing financial planning. Each addresses the sphere in which some kind of volatility could forcibly interfere with the organizations managers; hence, they depend on the situation at hand. However, they are majorly categorized into stand-alone, corporate, and market or beta risk.

Stand-alone risk presumes that a project will be operated in isolation, thus nullifying the existence of essential portfolio effects, such as firm and shareholder diversification. Therefore, this suggests that stand-alone risk is only applicable to small-non-profit enterprises, which often exist as independent entities (Gapenski & Reiter, 2016). Such risks can be overcome by eliminating the specific unit in which the risk is associated. Stand-alone risks have to be given keen consideration because, as a limited asset, investors perceive to see a high return if the value of the asset increases, as it is the only asset. It is evaluated based on the degree of uncertainty that is, the higher the uncertainty, the greater the risk. It is quantitated in terms of the standard deviation of the net present value (NPV), or the coefficient of variation of NPV that illustrates how much risk is associated with an investment relative to the amount of expected return (Gapenski & Reiter, 2016). However, other measures might be used to get stand-alone estimates and they comprise the internal rate of return (IRR) and modified internal rate of return (MIRR).

On the other hand, corporate or the within-firm risk is regarded as the overall riskiness of a project that considers the organizations other assets (diversification within the company); hence, it reflects the effect of the project on the corporates earnings stability (Gapenski & Reiter, 2016). Computationally, it is referred to as the standard deviation of the companys return on equity. Essentially, the corporate risk is most relevant to large non-profit enterprises. Moreover, since it is connected to non-owner stakeholders and impacts bankruptcy potential, it can be perceived to also be relevant in the realm of investor-owned companies. It is important to note that is reliant on a projects stand-alone risk (standard deviation of NPV), and the correlation of the projects returns to that of the rest of the firm (Gapenski & Reiter, 2016). If a project is negatively correlated to the overall return of the company, then it holds significant diversification benefits. Lastly, it is conceptually quantitated to the projects corporate beta, that is, the slope of the regression line developed when plotting a line graph of the rate of returns on a project against the firms overall returns.

Finally, market risk is the riskiness of a project with regards to the total riskiness (standard deviation) of a well-diversified investment portfolio. In other words, it factors the stockholders other assets. Therefore, it depends on the stand-alone risk (standard deviation) as well as the correlation of the projects returns to the returns of the stock portfolio (Gapenski & Reiter, 2016). Unlike other before-mentioned threats, it is perceived as a systematic risk that can be substantially minimized as it encompasses factors that can be diversified. It is most relevant in the case of investor-owned firms (Gapenski & Reiter, 2016). The projects market beta conceptually measures market risk, that is, the slope of the regression line developed when plotting a line graph of project returns against the market returns.

Since the primary objective of the managers is to increase shareholder maximization, theoretically, market risk is considered to be most relevant to capital budgeting. Nonetheless, customers, employees, creditors, and suppliers are impacted by the total risk of a firm, which is the corporate version. Therefore, this risk is also deemed relevant. However, despite holding a relatively limited relevance to capital budgeting, the stand-alone risk is the only one that is easiest to measure and most intuitive. As a result, businesses explicitly concentrate on this risk when making capital budgeting decisions (Gapenski & Reiter, 2016). Nevertheless, this focus does not imply poor decisions since many core projects have returns that are highly correlated with the overall returns in the firms and with market returns. Hence, in other words, stand-alone risk reflects both corporate and market risk.

In conclusion, during the screening and selection of investment projects, the management has to determine the future cash flows for every project, the level of risk that might arise from the cash flows, and the contribution of each project towards the maximization of the owners returns. Since future cash flows are developed from a subjective perspective, they hold uncertainty. Therefore, the management has to incorporate risk into project analysis to determine ventures, which are of high profitability. This is aided by the employment of risk analysis methodologies, such as scenario, simulation, and decision tree analysis. Nevertheless, unlike market and corporate risks, it is only the stand-alone risk that is applicable in real-life situations, otherwise, the rest only hold theoretical relevance.

The Cash Accounting and Accrual Accounting Methodology

Modern financial accounting has stemmed up from the long conventional method of registering receipts and cash payments (single-entry bookkeeping). This was followed by the double-entry accounting that was more inclined to resources rather than profits (Biswas et al., 2015). Therefore, since no cost accounting technique could be used in the valuation of assets and examine depreciation, there lacked a clear distinction between income and capital. The two modern primary methods of accounting include cash accounting and accrual accounting. This paper aims to compare and contrast the two accounting methodologies and illustrate their efficiency in different types of business environments.

Cash Accounting Method

The cash accounting method, also known as treasury accounting, is essential in the evaluation of the real property of a firm as it seeks to recognize the overall business through the lens of the treasury. Treasury in this context refers to cash and related cash equivalents. The firm managers must scrutinize the cash flow via the prism of flows acquired from the main operation, with the cash out allocated for financing and investment activities (Biswas et al., 2015). However, the cash accounting method is restricted as the possibility of an entity gaining profit is limited to the extent of the cash. Hence, it is essential to utilize a technique that considers assets, liabilities, and receipt payments in the results of a company, and this is where accrual accounting comes in.

Advantages of Cash Accounting

The cash basis method is more straightforward; hence, making the record-keeping process to be easier. It is suitable for tracking cash flow (money coming in and going out) since it does not include receivables and payables. In addition, because it is not compliant with the Generally Accepted Accounting Principles (GAAP), business owners do not have to pay income taxes about cash that has not yet been received. Therefore, this helps to improve cash flow and ensure that the companies have funds available for tax payments.

Disadvantages of Cash Accounting

Despite its advantage of simplifying the record-keeping process, financial statements prepared by this method are sometimes not a true reflection of the business performance within a given accounting period. This is because the revenues and expenses associated with a single transaction can be reported in different periods (Biswas et al., 2015). Moreover, the advantage of the reduction in tax expenses also has its limitations. Since firms are required to report the payment once received, they end up incurring tax on the gross amount if the deductible expenses are not published until the succeeding tax year. Third, expenses are often unmatched by the revenues; thus, the balance sheets and income statements may not give a clear overview of the overall business activities. Consequentially, this leads to the last disadvantage, which is that it will be challenging to predict future income or financial position.

Accrual Accounting Method

Cash has to be recognized as a principal indicator of a firms short-term and long-term management, and at the same time providing information concerning the risk of bankruptcy, financial stability, and signs of vulnerability, among others. In European accounting, the concept of accrual basis is intertwined with a principle that is foundational to the creation of financial statements  the principle of the independence of the fiscal year (Biswas et al., 2015). It states that businesses should report their profits, revenues, and the associated costs of their activities over a standard period. This financial data is often presented in the statement of cash flows. It is essential to note that in the end, the results of both the accrual and cash accounting methods are almost similar.

Advantages of the Accrual Basis

Unlike the cash basis method that gives a short-term overview of the businesss financial performance, the accrual basis provides a long-term financial summary. This is because the latter shows how much money was earned and spent while considering payables and receivables. Furthermore, since it factors several accounting factors, it gives an accurate financial picture.

Disadvantages of the Accrual Basis

It requires more intensive bookkeeping; hence, small business owners regard it as more technical and expensive to implement. Moreover, since it considers the money that has yet to be received, it gives an inaccurate portrayal of a firms short-term financial situation.

Comparing and Contrasting the Cash Accounting and Accrual Accounting Methodologies

Comparing the characteristics of the two accounting methodologies is centered on accounting recognition of revenue and expenses. In the cash method, revenue is recognized in the period in which the payment has been received, and the expenses in the duration in which payment has been made (Biswas et al., 2015). On the other hand, in the accrual method, the revenue denotes the effect of the accomplished business activities on the effort provided by expenses. According to GAAP principles guiding the preparation of financial statements, income is described as the increase in economic benefits over a specific accounting period, and this can be in the form of asset growth and debt reduction, which increase equity as well as the shareholders contributions (Biswas et al., 2015).

Moreover, the accrual basis depends on four moments of recognition of revenue and expense accounts, for instance, revenues being recognized at the base rate of considering expenditure incurred in consumption of resources (wages and materials and supplies, among others). Second is the revenue recognized at the moment of billing when it is generating receivables from the recipients of the goods and services. The third moment is when both the revenue and expenses are integrated into the results of the end financial period. Lastly, the fourth moment is shared between the two methodologies, which is, receipt payment. However, the disparity is that on a cash basis income infers to only receiving cash while expense refers to payment. Alternatively, on the accrual basis, not every cash receipt is regarded as revenue, and the same applies to expenditure. Overall, the primary difference between the two methodologies is the timing of the operational logs. The record-keeping time on the cash basis is less than that of the accrual basis.

Conclusion

In conclusion, the selection of either of the accounting methods is dependent on the size of the business, the business goals, availability of resources, and the firms financial requirements. Therefore, the cash accounting method is more popular among small firms, sole proprietorships, and start-ups. On the other hand, accrual accounting is more applicable in instances where businesses earn gross revenue of more than $25 million over a three-year duration, or when firms sell products or purchase them on credit. Therefore, the best accounting strategy is that which utilizes a hybrid approach.

References

Gapenski, L.C., & Reiter, K.L. (2016). Healthcare finance: An introduction to accounting and financial management. Health Administration Press.

Biswas, R., Rahman, M., & Rahman, R. (2015). Effectiveness of accrual basis accounting as compared to cash basis accounting in financial reporting. International Journal of Multidisciplinary Research and Development, 2(10), 467-473. Web.

Business Writing Steps (Pringle & OKeefe, 2003)

Communication plays a pivotal role in all facets of life. As such, it is always important to consider various factors in order to ensure that the message being communicated is received and understood. While writing any communication within an organization, the following steps should be followed.

1. Consider and identify your targeted audience. For example, in this case, the audiences include the store managers, the employees, retail consumers, and the general public.
2. Select the most appropriate medium to be used to convey the message. In this instance, a business memo is most appropriate for the store managers; e-mailing would be convenient for the store employees, and a business letter would suffice for retail consumers and the public.
3. Identify the communication style that should be used when communicating with different stakeholders. In this case, you may use a formal style to address the store managers, persuasive style to communicate with the employees, and the spin to inform the retail customers and the public.
4. Keep it precise, concise, and professional.

Message Format (Geffner, 2010)

Business letter: to the store managers

xxx Stores Ltd,
123456,
Arcadia Road,
New Jersey, OP 57602
August 08, 2011
Mr. xxxxxxx, (store manager)
XXXXX New Jersey,
OP 54522
Dear store managers,

Re: Changes in Operation Timings

By now, you are all aware of the recent hike in fuel and gas prices that has led to an increase in the operational costs of the company as well as inflated costs in gas bills for the managers and employees that commute to work on a daily basis. Due to this severe increase in the costs of operating business, we have decided to make some adjustments to our operating time. To mitigate the rising costs, the store will remain closed every other Sunday forthwith. During weekdays and on Saturdays, the store will open from 9:00 am to 8:00 pm as opposed to the regular working hours of 8:00 am to 9:00 pm.

Managers will now work forty hours a week (4 days, 10 hours each). The part-time employees will be required to combine their workweeks into 1- 2-or 3work weeks. However, you should note that no store will be closed and at the same time, no new stores will be opened. These new changes in our time schedules are aimed at reducing the travel costs incurred by our managers due to increased fuel costs. In addition, you will have extra days to spend with your families. Thank you for your time.

Yours faithfully,
Xxxxxxx xxxxx, Public Relations Manager.

Memo: Store Employees

To: XXXXX XXXXX employees.
From: xxxxxx xxxxx, Public Relationship Manager.
Date: August 08, 2011.

Subject: Improvement in Operational Time Schedules

This is to inform you about our new employee-friendly operational timing for our stores. From this date forth, the stores will not be open for business on Sundays, giving employees a chance to relax on this day. Full-time employees will enjoy a consolidated package in which they will be required to work four 10hrs working days each week, meaning that you will have three days off to attend to your needs. For those working part-time, their monthly working hours will be consolidated into one, two, or three work weeks so as to reduce their overall cost of commuting to work on a daily basis. In addition, the working hours for our stores have changed, and business will commence at 9:00 am until 8:00 pm every weekday and Saturday. These changes in our time schedule will enable you to work better and comfortably. In addition, they will work towards reducing the costs you incur while traveling to work each day.

E-mail: retail customers and public

Send as: xxxxxx xxxxx, Public Relationship Manager.
To: our esteemed customers and shareholders
Subject: change in store timing.

As resulting from the changing needs of our esteemed clients and the general increase in fuel and gas prices, we are glad to announce the new timing schedules for all our stores. It has come to our attention that most of our customers do not shop on Sundays, and at extreme hours, the stores will remain closed on this day. Similarly, during weekdays and Saturdays, the stores will open from 9:00 am to 8:00 pm because most customers shop between these hours. In addition, it is with great pleasure that I inform you that none of our stores will be closed in the near future. As always, our employees will work effortlessly to ensure that you get the quality of services you deserve. I hope that you will continue to direct your valued support and investment to our stores. Kind regards.

Reflection

This business writing assignment is designed to address different groups of people. From my point of view, it is, at times, necessary to protect the good of the company by twisting a negative fact into a positive one. This is especially so in a situation where motivation and commitment are required to ensure success. Regarding academic writing, the main purpose is always to state the facts about the given topic. In this regard, one is expected to make a stand and provide supporting evidence to his/her stand. Key in academic writing is ones capability to relate his/her ideologies to facts presented by carrying out elaborate and comprehensive literature reviews.

In most fields of study, the data is gathered, and academic theories and principles are added to make it credible information. As such, I have always viewed this as the only way to write academic papers. However, this assignment has challenged that perception in the sense that I have conveyed the same information differently to different groups, all the while maintaining the facts. In deontology, I am expected to lay out facts as they are (no color coding) however, I believe that in public relations, the presentation of facts in different manners does not amount to lies, and as such, it is within my ethical boundary to present them as such.

References

Geffner, A. (2010). Business English: The Writing Skills You Need for Todays Workplace. USA: Barrons Educational Series.

Pringle, A., & OKeefe, S. (2003). Technical writing 101: a real-world guide to planning and writing technical documentation. USA: Scriptorium Publishing.

I want to become an international businessman. In my opinion international business is an exciting field. In order to pursue this career, one should acquire certain skills and traits that are paramount to succeed in this field. The plan to become an international businessman requires three supporting details or supporting factors:

1. Learn to speak Spanish, Chinese, and English;
2. Study leadership and management principles;
3. Earn a degree in a marketing major.

The first supporting detail is language learning. It is a crucial skill for every international businessman who wants to go up the career ladder.. However, my goal is not simply to learn a second language. My focus is to learn how to speak three of the most popular languages in the world. In order to achieve my objective, I will study abroad to learn how to speak English. The English language is the international language of the business world.

It is impossible to succeed as a businessman without the capability to speak it. Although the English language is crucial for business, the second and third most popular and highly demanded languages are Chinese and Spanish. Therefore, it is important to learn how to speak Chinese and Spanish. I will learn these languages using computer software that teaches people how to speak a second language.

The second supporting detail is to study about management. Management teaches students and future managers on how to operate the companys resources. It is impossible to run a company or a business without understanding the principles of management. I believe that it is easier to manage people if the businessman also understands the core principle under this subject such as leadership. This goal is accomplished by taking up management courses.

In my spare time I will try to read books about successful leaders and managers. Management skills are needed so that the businessman sees the adjustments required to improve business strategies. Management skills enable the leader to utilize resources in the most efficient manner.

The third supporting detail is the need to acquire a marketing major in college. It is important to earn a degree related to International Business with a major in marketing. A major in marketing helps students understand the science of marketing products. It will help me develop a marketing strategy to sell the products to the target market. In addition, a marketing major will help me acquire background information on the industries that are found in Europe, North America, South America, and Africa. It will help me understand why these countries are different from each other.

The following is the summary of the plan on how to become an international businessman. Learning English, Spanish, and Chinese helps in the communication process. It helps to communicate to business partners that are located in different parts of the world. The ability to communicate and work with people coming from different cultural backgrounds is a major requirement for success. An international businessman cannot afford delays and product failures because of miscommunication. Management skills are also needed to ensure the proper use of resources. Management skills enable managers to create an efficient company.

Finally, it is important to learn marketing skills so that the companys products are sold with a maximum profit. A marketing major helps in acquiring marketing skills. Marketing skills are needed to sell products to a target market.

The Canadian oil and gas industry has attracted a lot of attention from policymakers, environmentalists and the wider public because of its positive and negative impacts on the economy (The Royal Society of Canada, 2010). Traditionally, this industry has been the biggest revenue generator for the government (Britton & Canadian Association of Geographers, 1996). It has also created thousands of jobs for many Canadians.

Although experts suggest that the country has not fully exploited the potential that exists in the oil and gas industry (OECD, 2013), observers have expressed their concern regarding the continued reliance on the energy sector to drive Canadas economic growth agenda. Their concern stems from the non-renewable nature of gas and oil as Canadas primary energy resources (Doern, 2005). Furthermore, they say the industry has a negative impact on the environment (The Royal Society of Canada, 2010).

The proposed paper strives to evaluate the impact of the oil and gas industry in Canada through an economic-policy perspective. An evaluation of the economic benefits of oil exploration will underscore the positive side of the industry, while the environmental risks and challenges posed by oil and gas exploration will outline the negative side of the oil and gas industry. The proposed study will also consult secondary literatures to understand the economic impact of the oil and gas industry in the North-American country. The study would also explore the role of the oil and gas industry in creating employment opportunities in Canada, relative to the financial troubles that the oil and gas industry has caused Canada through the recent poor performance of oil and gas industry.

Introduction

Canada is among the largest producers of oil and gas in the world (The Royal Society of Canada, 2010). A comparison of the biggest global oil-producing nations shows that the North American state is the fifth largest producer of oil and gas in the world (OECD, 2013). The expansive oil fields of Athabasca show that Canada has the third largest reserves of oil in the world (second to Venezuela and Saudi Arabia) (OECD, 2013). Most of the oil exploration and exploitation activities in Canada are concentrated in Alberta (Canadian Energy Research Institute, 2011).

Although Canadas oil and gas industry has contributed immensely to the countrys economic growth, many debates surrounding the ethics and practices of oil and gas companies shroud the prosperity and growth of the industry (The Royal Society of Canada, 2010). These concerns stem from the non-renewable nature of oil and gas as the countrys primary energy resources and the negative impact of the energy resources on the environment (The Royal Society of Canada, 2010). Destruction of eco-systems, pollution, and human population displacements are only some issues that have weighed heavily on the growth of Canadas oil and gas industry.

Increased awareness of Canadas natural resources has shifted the countrys attention from economic prosperity to the impact of the countrys natural resources on the environment (The Royal Society of Canada, 2010). Particularly, the emergence of a new interest in conservation has fanned debates regarding the countrys sustainability agenda, particularly concerning the oil and gas sector, which is the biggest non-renewable sector in the industry. In this regard, there has been confusion and uncertainty regarding the effect of conservation on the oil and gas industry because it drives Canadas economy.

Government policy on resource development and exploitation have mainly steered this debate because federal and provincial authorities are supposed to regulate oil and gas activities in the industry. This paper will investigate the impact of the oil and gas industry in Canada. Emphasis will be on explaining the implications of the oil and gas industry on the countrys economy and identifying solutions for managing the sustainability challenge, through an economic-policy perspective. However, before delving into the details surrounding this investigation, it is important to understand the benefits of the oil and gas industry in Canada.

Benefits of the Oil and Gas Industry in Canada

Revenue Generation

Revenue generation is an important part of service delivery in many civilized societies. Through the revenues collected from different economic sectors, a government can provide goods and services to different to its citizens. Without a sufficient source of revenue, key social, economic, and political sectors, such as education and health would decline (Isfeld, 2015). The Canadian oil and gas industry is among the biggest revenue generators for the country. According to CAPP (2015), the industry is the single largest private source of revenue for the country. Annually, the oil and gas sector contributes about $17 billion in revenue to the government in forms of taxes, royalties and land payments. CAPP (2015) says, The oil sands industry will pay an estimated $1.5 trillion in provincial ($302 billion) and federal ($574 billion) taxes and provincial royalties ($590 billion) over the next 25 years (p. 3).

The contribution of the oil industry to the Canadian economy transcends revenue generation because according to the Canadian Energy Research Institute (2011), the industry will invest more than $117 billion dollars purchasing supplies and equipment from provinces outside Alberta in the next 25 years. In this regard, many Canadian businesses are bound to benefit from doing business with Canadian oil and gas companies.

This is why the CAPP (2015) says more than 2,000 companies across the country benefit from doing business with oil and gas companies. For example, aboriginal companies that have traded with oil and gas companies in the last decade have earned more than $8 billion in revenues (Canadian Energy Research Institute, 2011). These insights show that the oil and gas sector has greatly contributed to the countrys economic and social prosperity.

Creation of Employment Opportunities

For a long time, the oil and gas sector has created many employment opportunities for Canadians. The OECD (2013) and Doern (2005) say that the industry employs more than 500,000 people. Future projections show that the oil and gas sector should create more jobs in the next decade. For example, the Canadian Energy Research Institute (2011) says that the momentum for new job creations in this industry is bound to grow from creating 75,000 jobs in 2010 to creating 905,000 jobs in 2035. This figure encompasses full-time and part-time employment opportunities.

The positive impact of the oil and gas industry on Canadas labor sector has also spilled over into the economic and social growth of some communities. For example, Fort McMurrays population numbers have dramatically increased in the past years because of oil and gas activities in the community (CAPP, 2015). Through the relationship that the community enjoys with oil and gas companies, aboriginal workers have secured more than 1,700 permanent employment positions in the oil and gas industry (Canadian Energy Research Institute, 2011).

Accompanying these figures has been a rising population (CAPP, 2015). The increase stems from the high number of people who are securing employment positions in the region. Rising employment numbers in Aboriginal communities have also earned more than $5.5 million in community programs, sponsored by oil and gas companies (CAPP, 2015). Comprehensively, the oil and gas sector contributes immensely to the overall well-being of the countrys economic potential.

Infrastructure and Balance of Payments

The contribution of the oil and gas industry to the creation of an oil infrastructure in Canada has improved the countrys trade potential with its neighbors, such as the US. The industrys overall contribution is more than one quarter of the countrys Gross Domestic Product (Canadian Energy Research Institute, 2011). From a macroeconomic standpoint, the oil and gas industry has improved the countrys balance of payments because the industry has supported a healthy export economy. Indeed, the countrys oil exports are a vital source of national wealth for the North American nation. In fact, compared to other economic sectors, the oil and gas industry is unrivaled as the largest export sector in the country (CEPA, 2015). According to the graph below, the motor vehicle parts industry, consumer goods industry, forestry sector, agricultural sector, and industrial machinery industries trail the oil and gas sector in contributing to Canadas export volumes in that order.

Based on the above statistics, Canada has carved a name for itself as being among the few countries in the world that is a net exporter of energy. The export industry links with the countrys advanced infrastructural pipeline because Canada exports more than $82 billion worth of oil and gas through this infrastructural network (Canadian Energy Research Institute, 2011). These insights show that the oil and gas industry is instrumental in driving Canadas growth agenda. However, its impact on the economy has come at a huge environmental cost to the country. These issues appear in the next section of this paper.

Negative Impact of the Oil Industry in Canada

The greatest criticism of the Canadian oil industry is its impact on the environment (The Royal Society of Canada, 2010). The negative impact of the oil industry on the environment is responsible for the resource exploitation debate (Canadian Energy Research Institute, 2011). Some of the key stakeholders that have weighed in on this issue include environmentalists, oil companies, first nations and provincial and federal governments (Britton & Canadian Association of Geographers, 1996). Some of the contentious issues in this debate are the increasing volumes of greenhouse gases that degrade the environment and landscape destruction, which occurs because of oil drilling activities.

These destructive practices have led to massive tailing ponds that accumulate waste matter, which eventually flow into waterways and affect aquatic life and marine animals. Greenhouse gas production accounts for 5% of Canadas emissions (The Royal Society of Canada, 2010). These negative environmental impacts have drawn the attention of many international environmental groups who have labeled oil and gas exploration activities in Canada as a dirty business (The Royal Society of Canada, 2010). This tag has increased the publics concern about the role of economic policies in managing natural resource and extraction activities.

The Debate

Based on its influence on the economy, resource extraction has had a strong influence on the development of the countrys energy policy (The Royal Society of Canada, 2010). Observers believe that the conservatives often see oil and gas as a necessary natural resource for the countrys prosperity. They also believe that the government should exploit it fully by building infrastructure and providing the necessary equipment to do so (Lascaris, 2015).

That said, experts agree the government has focused its energy on investing in the oil and gas sector at the expense of others (lack of diversification) (OECD, 2013). They believe this strategy has made the Canadian economy vulnerable to global movements in oil and gas prices. For example, with the falling global oil and gas prices, the country is grappling with the diminishing value of the Canadian dollar, which (partly) depends on the countrys oil sector, and by extension the economy (OECD, 2013). The collapse of the oil industry in the past one year has had a significant impact on most sectors of Canadas economy.

Resource management problems stem from the complexity of the term itself. For example, Lascaris (2015) asks, if management is central to the concept of resource management, then who should assume this responsibility? Different authors answer this question by saying it is not the responsibility of government to do so, but the responsibility of the resource owners (The Empire Club of Canada, 2015). In the Canadian context, the resource owner is usually the provincial government. Relative to this statement, Lascaris (2015) says, Under the British North America Act each province has the ownership and full control of its lands, forests, mineral resources and water resources (p. 3). Different regulatory authorities should support the development agenda of provincial governments.

Canadas Resource Development Agenda and Exploitation Policy

There is a consensus regarding the need to manage Canadas oil and gas resources effectively. The aim of doing so is to ensure that the country gets the most benefits from its resources (The Empire Club of Canada, 2015). In judging how we should reach this goal, we find that our focus should not only be on understanding how our natural resources should take care of our welfare, but also on understanding how our sustainability efforts (today) would take care of the welfare of future generations. This understanding premises on our understanding of the time factor concept, which applies to the exploitation of both renewable and non-renewable resources, over time. Lascaris (2015) believes that striking a balance between present-day exploitation of natural resources and future resource needs require a careful balance between the supply and demand of these natural resources.

Many observers have emphasized the importance of having a natural resource policy for Canada, which the federal government should spearhead because it has the institutional mandate over national oil and gas activities (The Empire Club of Canada, 2015). Nonetheless, some researchers disagree with this assumption because they say depending on the federal government for direction ignores the distribution of powers across Canadas political and governance structure (Canadian Energy Research Institute, 2011). For example, it ignores the division of responsibilities between federal and provincial authorities in managing the oil and gas industry (Canadian Energy Research Institute, 2011). The answer to this conflict emerges in effective collaboration and coordination among the relevant authorities.

Recommendations

Most of the debate that has characterized public opinion about the Canadian oil and gas industry has often focused on the economic success of the country. Observers often say that when discussions about the economy start, it is often a code for discussing exploitation in the oil and gas industry. For a long time, conservative rule in Canada has elevated the role of the oil and gas industry to a predominant position of influencing the countrys economic health (Lascaris, 2015). Stated differently, the oil and gas industry has been the engine of growth in the countrys economy. This paper has already demonstrated this fact through employment, revenue, and balance of payment figures.

The instrumental role of the oil and gas industry in Canadas economic growth has forced many technocrats to believe that increasing investments in the oil and gas sector is the most effective ways of generating employment in the economy (Lascaris, 2015). This belief stems from understanding that the non-renewable energy sector is among the highest employment-generating sectors in Canada, relative to investments. However, recent reports show that the renewable energy sector generates more employment compared to the non-renewable energy sector. This is contrary to popular belief that suggests the economic potential of the non-renewable energy sector is greater than the renewable energy sector.

Indeed, statistics show that most companies create two jobs for every million dollars invested in the non-renewable energy sector (Lascaris, 2015). Comparatively, they create 15 jobs for every million dollars invested in the renewable energy sector (Lascaris, 2015). The potential for the renewable energy sector to grow is tremendously high, especially because the sector only accounts for 2% of the countrys GDP. Comparatively, other countries with relatively similar economic potential as Canada, such as Germany, have renewable energy sectors that account for more than 30% of their GDPs (Lascaris, 2015). Canada should follow this example by investing in its renewable energy sector.

Conclusion

From an economic policy standpoint, this paper has shown the positive and negative contributions of the oil and gas sector in Canada. Granted, the oil and gas sector has traditionally played a vital role in promoting the economic agenda of the North American country. Consequently, conservatives have relied on it for revenue generation and economic prosperity. This strategy has forced them to risk everything on one endeavor (the non-renewable energy sector). The poor performance of the oil industry has hurt the Canadian economy because it has led to lower returns for the industry and, by extension, the poor performance of the Canadian economy. Notably, these effects have manifested through the loss of value of the Canadian dollar.

This paper has proposed a careful review of the economic policy on the exploitation and exploration of natural resources because there needs to be a more holistic understanding of the effects of the oil and gas industry, not only on the economic performance of the country, but also on the environmental agenda of the country. Driving this goal is the need to focus more on the renewable energy sector as a means of improving the economic and social development of Canada. Indeed, expert reviews, cited in this paper, show that most investments in the renewable energy sector could generate higher returns than the non-renewable energy sector. Based on this review, Canadas economic policy on resource development and exploitation should focus more on promoting the success of the renewable energy sector, as opposed to the non-renewable energy sector.

References

Britton, J., & Canadian Association of Geographers. (1996). Canada and the Global Economy: The Geography of Structural and Technological Change. Ontario, CA: McGill-Queens Press  MQUP.

Canadian Energy Research Institute. (2011). Economic Impacts of New Oil Sands Projects in Alberta (20102035). Web.

CAPP. (2015). Economic Contribution. Web.

CEPA. (2015). Supporting a Healthy Export Economy. Web.

Doern, B. (2005). Canadian Energy Policy and the Struggle for Sustainable Development. Toronto, CA: University of Toronto Press.

Isfeld, G. (2015). Low oil to have both positive and negative effects on Canadian economy, Ottawa told.

Lascaris, D. (2015). No Dissension on Oil Exploration in the Leaders Debate in Canada. Web.

OECD. (2013). Inventory of Estimated Budgetary Support and Tax Expenditures for Fossil Fuels 2013. New York, NY: OECD Publishing.

The Empire Club of Canada. (2015). Canadian Resource Policy.

The Royal Society of Canada. (2010). Environmental and Health Impacts of Canadas Oil Sands Industry. Web.

The Op- Ed writings about Corporate Welfare are interesting reading. The writer, Chris Rufer, founded The Morning Star Company. The company has a workforce of not less than 2,000 workers. It deals with processing and agri-business. He started the company in the year 1970. At that time, he used to haul tomatoes to other canneries. But now, the company does the entire process of harvesting, hauling the products to its processing plants, and supplying the finished products (Rufer).

Chris Rufers Morning Star Company has its roots in the Southern and Northern California. It is one region that receives the worlds attention for being the most productive tomato growing region. It manufactures very many tomato products. It has invested heavily in the industry and accounts for about 25% of Californias processing tomato production. It has industrial sales of about $350 million.

As one of the most influential business people, Chris Rufer, together with hundreds of other business leaders, support the Freedom Partners Chamber of Commerce. Its a league of business leaders opposing the corporate welfare programs in Washington. His business of supplying tomatoes could also benefit by not having to face stiff competition from those that the bank finances (Rufer).

The Values

The author has been evaluating the federally-run Export-Import Bank. It was founded during the New Deal to support jobs in the United States by facilitating the export of U.S goods and services. It uses taxpayer money to give loans to private companies. The argument here is that it leaves many people wondering how it manages its work. If the borrowers make a profit, they use it for their ventures. But if the borrowers default, the taxpayers have to cater for the loss (Rufer).

Mr. Chris is unhappy with the way the bank operates its scheme. He argues that if it is to benefit Americans by creating and sustaining more jobs, it has to finance American owned enterprises. The Affordable Care Acts defines small businesses as those with approximately fifty employees. The Export-Import bank raises the figure by 1,450. Instead of supporting small businesses, the bank supports multinational companies.

Most of the beneficiaries are also state-owned companies from across the globe. Companies like the Emirates Airlines benefited from the financing to buy Boeing Airplanes. The author argues that financing foreign companies only puts the American companies in unfair competition with them. It can result in the closure of US citizens enterprises and lack of jobs locally. The small percentage of small businesses financed gives them undue advantage over others. Another concern is the use of taxpayers money to support a few businesses and leave others to struggle for space in the market. His argument is that this corporate welfare program should stop because it is unfair, misleading, and not honoring its intended mission.

The Authors Argument

The author is building a serious argument that has the support of very influential business leaders. He makes clear and concise arguments on the issue because he foresees a situation where few enterprises would misuse the original good plans of the bank for their own interest. The loss of taxpayers money through unfair means is an offense. The unfair distribution of wealth through loans makes it hard to ascertain how well the money is invested (Rufer).

The writer uses sarcasm and irony to air his views. He has seen many American business leaders work with the government to increase their profits at taxpayers expense (Rufer). According to his argument in writing, this profit is just another way of misusing public money. Most of the reports indicate that in the long run, the bank would lose a lot of money (Rufer).

One has gained more knowledge from the authors writings. One had always thought that the Export-Import bank had brought about growth in the business sector. The lesson that one has gained is to always look for other opinions and facts before making judgments. It is important for one to be investigative about important matters.

Works Cited

Rufer, Chris. End This Corporate Welfare. New York Times. 2015: A21. Print.

Summary

Paul White is a struggling manager of a Boca Raton branch for a company called Hannahs Shop. He received news about the stores poor performance earlier that day. He confessed his work-related frustrations to his friends. He wondered how he failed when he was more than willing to adhere to the companys proven sales strategy. Nevertheless, an emergency situation made him realize that it was not prudent to emulate the same supply-chain management strategies espoused by the managers of the most profitable stores in the region. Paul discovered a critical flaw in the companys supply-chain process. This discovery prompted the creation of an alternative supply-chain management scheme, and when he was confident regarding its validity and effectiveness, he wanted everyone to hear the good news.

Paul realized that due to the corporate culture that resulted in the blind acceptance of an obsolete supply-chain management paradigm, store managers are compelled to load up their inventories and fill up the stores storage area with goods. As a result, the company as a whole spends a great deal of money, ordering large quantities from the producers of the said products several weeks or months before these items are needed by the customers. Due to this practice, store managers are confronted with two major problems: storage-related constraints and the indirect costs created by slow-moving items.

Paul created an ingenious solution to the said problems, and he listed the critical components as follows: reduce in-store inventory levels; develop a re-ordering system in order to replenish purchased items; keep sufficient inventory in warehouses; order smaller batches from manufacturers but increase the frequency of ordering the said items; and invest in an appropriate and effective management information system for the purpose of tracking sales, order levels stock levels, and other relevant data. Convinced about the effectiveness and validity of the new scheme that he created, Paul decided to spread the good news. He persuaded store managers to embrace the new way of doing things.

5 Scenes

Scene # 1

Paul thought he was having a bad day because he was unable to secure an item from another store. A few moments before he uttered unhappy words into the mouthpiece of a telephone, a customer wanted to order an out-of-stock item. However, Paul knew how to go around the problem. He thought that by simply giving a call to a store manager handling another branch, he had the chance of salvaging the reputation of the store he was overseeing, and at the same time, he prevented the possibility of losing sales due to inventory-related limitations. This scene exemplifies one of the critical supply-chain management issues that managers and salespeople are contending with while working at Hannahs Shop. This scene also provides insights into the practice of loading up on items in order to prevent the recurrence of the same scenario. However, the obvious problems related to this strategy crop up several times in a year when surpluses are eating up space and threatening to affect the stores profitability as a direct result of obsolescence.

Scene #2

After a broken pipe caused significant water damage to books, carpets, linen products, shoes, and other household items, Paul was forced to remove a significant portion of the stores inventory in order to protect it from the problems caused by damp and mold. Paul was also compelled to modify the stores supply-chain process in order to facilitate the movement of goods from a temporary holding area into the display area.

Scene #3

After discovering a gem of an idea in the revised supply-chain management protocol, Paul was excited to share his discovery with other managers. However, the other store managers doused cold water into Pauls fiery enthusiasm. The main problem, according to the unimpressed store managers, was that they were not going to risk the chance of not having enough items on standby. They explained how they were going to lose revenue if they are not able to sell the items at a time when a customer demands it. This scene exemplifies the dilemma faced by store managers. These business leaders are aware of the inefficiencies and constraints brought about by the surplus created by unsold items. Nevertheless, they are haunted by the memory of unhappy customers unable to purchase the products that they needed.

Scene #4

Paul and his associates were examining the details of a graph that described the status-quo in terms of the companys best practices. Paul pointed out that it is prudent to consider the strategic value of the warehouses. He wanted them to understand that there is an ingenious way to connect these warehouses to the store, and in effect, expand the stores capability to have access to more goods without the need to physically alter the stores configuration. This scene exemplifies the impact of changing a small part of the supply chain management process. For example, Paul and the other store managers had access to the same warehouse. However, they did not see the warehouse as a hub. They simply saw these large buildings as a platform that manufacturers use in order to ship large quantities of the products that Hannahs Shop ordered from them. It took managers a long time to improve the cost-efficiency of the business model.

Scene #5

Paul was able to get a second opportunity to present his case to the skeptics. The store managers were ready with their objections and criticisms regarding the perceived flaws of Pauls new system of moving goods from the manufacturer to the stores display window. However, at the end of the presentation, Paul was able to persuade them to adopt the new system. One of the most important insights that one can get from this scenario was the one about the clever way of modifying the ordering process. This scenario exemplifies the inability of store managers to determine the correct timing when it comes to replenishing stocks. If they wait until the last moment, they are going to experience problems due to unforeseen circumstances that prevented the timely delivery of specific items.

This particular scene also exemplifies the need for an appropriate management information system that tracks and monitors sales and threshold levels. It is not possible for a single human being to understand all the facets of the supply-chain protocol. However, a computer does not have to deal with distractions and other issues that easily cause breakdowns in decision-making. The said management information system serves as a tool to streamline the managers decision-making process. It is also prudent to invest in specific types of computer software that allows connectivity between the cashiers computer and the manufacturers database. In other words, the manufacturer of the product or the manager of the warehouse gets advance information regarding the dwindling supply, and this information triggers the reordering process. Thus, there is no need to waste a single hour and not to be able to do the right thing at the most opportune time.

General Thought

It is a good thing to know that managers and business owners are getting easy access to the type of insights that are made available through reading Goldratts novel. One can argue that it does not take much to acquire the same level of understanding and appreciation for the recent discoveries concerning the supply-chain management aspect of the companys business operations. Store owners and business leaders are going to learn the same thing if they pay careful attention to recent trends and development (Zaman 241). Paul White and his associates discussed a better way of handling the supply-chain-related problems of Hannahs Shop. However, one can also argue that Paul and his friends are going to develop a better framework if they are willing to invest time and resources in order to study the success stories of large online businesses like Amazon.

The success stories of online stores like Amazon provide real-life examples and applications of the principles that were described in Goldratts novel. It is important to point out that Amazons business model offers insights regarding how to enhance the profitability of Paul Whites business model. In the said novel, Paul was able to reduce investments and surpluses by activating the efficient use of a nearby warehouse and connecting it to the stores business operation. Thus, he created a system that virtually expanded the stores inventory, but in reality, the items were not physically present in the said Boca Raton branch.

Paul discovered something that has been perfected by Amazon and other online stores with a similar format. In this type of set-up, the store managers are not struggling with any type of surplus or the need to sell slow-moving items because there is a system that ships the product from the warehouse to the customer (Zaman 241). Paul has to consider the development of a new revenue stream, the one that is an offshoot of a brick-and-mortar store and one that is the direct result of having an online presence.

Works Cited

Goldratt, Eliyahu. Isnt it Obvious? North River Press, 2010.

Zaman, Marzia. E-business Technology and Strategy. Springer, 2010.

Introduction

Braintrust Toys is a medium-sized company specializing in toy-making that decided to shift from product development to an innovative strategy. Its new objectives include enhancing attributes and convenience of existing products, launching new products, developing new markets, hiring personnel that thinks innovatively, and hiring customer service-oriented employees to support new products and markets. The companys evaluations and compensation strategies need to be updated in accordance with the new innovation strategy.

Main body

The evaluation principles need to be changed to address the new business objectives: innovation, new market development, and improved customer service. The current evaluations are performed by the companys managers after reviewing employees results based on their influence on increased department product output and increased department sales at the end of the year. In accordance with the new companys objectives, other performance indicators should be taken into consideration, namely the quality of customer service and the amount of innovation produced by an employee.

For employees working with customers, service quality should be the main evaluation criteria. It should include the following key performance indicators: Customer Satisfaction Score, product knowledge, problem-solving skills, and revenue per employee. To measure customer service performance, the following methods of evaluation can be used: customer feedback assessment, satisfaction surveys, conversion rate, rate of resolved issues, number of complaints, and employee surveys. The compensation system for employees working in customer service should be based on service quality assessment.

Another important evaluation criterium for managers, designers, and employees working with customers is the amount of innovation produced. It should include the following performance indicators: the number of identified problems, number of ideas produced, number of approved ideas, number of new strategic activities suggested, and the number of new competencies gained (Hittmar, 2015). For managers, they may also include the number of innovations implemented, the amount of time a manager spends with innovations, received training in innovative methods, the number of improved products, and the rate of productivity (Hittmar et al., 2015). Both managers and regular employees should be evaluated at the end of the year based on their contribution to the companys innovation process rather than the general product output.

The compensation system should also be updated in accordance with the new business goals. Currently, employee compensation is based on longevity at the company. To align it with the new business strategy, compensation should be awarded based on the amount of innovation produced and the quality of service offered by an employee. It will encourage current personnel to focus on new objectives and allow the company to employ a new customer service-oriented hiring strategy. As a consequence, Braintrust Toys will have to let go of some of the employees who will not be able to meet the new requirements. To prevent this, time should be given for the existing personnel to adapt to the new objectives, and they should be provided with relevant training opportunities.

Conclusion

Overall, when focusing on the development of innovative products and new markets, the company should pay more attention to the amount of innovation produced rather than the general product output to evaluate employee performance. The evaluation and compensation strategies need to be updated to include relevant key performance indicators. For employees in customer service, the quality of service should be the primary evaluation criteria, and for all employees, their contribution to the innovation process should be given the utmost attention.

Reference

Hittmar, S., Varmus, M., & Lendel, V. (2015). Proposal of evaluation system for successful application of innovation strategy through a set of indicators. Procedia Economics and Finance, 26, 1722. Web.

Introduction

In the scholarly literature, bureaucracy is defined as the combined organizational structure, procedures, protocols, and set of regulations in place to manage activity, usually in large organizations (Gomez-Mejia et al, 2008, p. 34). This is the core of the structural formation of an organization. It is that part that is not related to the decision makings inside the organization, rather it is more concerned with the application and enacting of the policies decided. Thus, bureaucracy takes care of implementation processes within a company. For this reason, it has to develop rules and norms by which to direct the process of implementation of the policies. Everything in a bureaucracy goes on according to these rules and regulations. It is like a giant clocking mechanism where each part has to do fulfill its duties. A final characteristic of bureaucracy is the hierarchical division of labor. There is a clear vertical line of authority in an organization and it is most clear in large bureaucracies. Each level of bureaucracy has its own duties and obligations and cannot interfere with the duties of the other level.

Nevertheless, this term has become a synonym for lack of efficiency and malfunctions within an organization. In daily usage among people, the term receives a negative connotation and it expresses the lack of implementation rather than proper application by part of an organization or a company (Gomez-Mejia et al, 2008, p. 36). The reason for this is because due to its nature companies have developed highly complex bureaucracies. The larger they became, the bigger and complex their organizational design and structures.

Modern bureaucracy and the business firm

With the growth of the business so has its bureaucracy along with its procedures. This meant that the enacting of the policies decided by the board of directors or management team of a company would take more time to reach the ground level for implementation. The problem here is that in todays modern business world timing and effectiveness in policy implementation are what make the difference between a successful and an unsuccessful company (Jones, 2004, p. 5). Thus, the question which arose during the last decade of the last century and this one is whether bureaucracy is still applicable in todays business environment? If bureaucracies have turned into a major hold back force for businesses then maybe it is time to find other alternatives of policy implementation. On the response of these questions managers and business, authors have divided. Some argue that bureaucracy is a necessary evil that we cannot do without. The other group argues that it is time to move forward and replace bureaucracy with a better formula of organizational design.

Time for a change

The authors supporting this idea base their arguments on the principle of simplicity, i.e. meaning that the simplest the hierarchical formation of a business firm, the greater the benefits for that same firm (Timmons & Spinelli, 2004, p. 56). They invite us to look at the process of how a corporate bureaucracy is formed. Small businesses do not have the privilege of developing bureaucracies due to the small number of people involved in them. But, when you get your business to pass over 100 employees, the management team will inevitably begin to lose touch with the ground level (Ghosh, 2005, p. 1).

It is at this point that bureaucracy develops. In order to retain control over the business, managers begin to build their own prestige by gradually increasing the number of people they supervise. They create a need for more help when, in fact, they need to quit acting like lords and masters and perform more of the nitty-gritty themselves (Jannifer, 2005, p. 6). The problem with this process is that eventually it gets out of control and the distance between management and the workforce gets even bigger. They propose that companies need autonomous groups to take care of daily tasks without the hierarchical control from the top. Instead, the company will operate in several units which will have full autonomy of implementing policy and will be heard during the policy formation process.

Bureaucracy as a necessary evil

An organization cannot operate without a bureaucracy supporting its routine work. This is the basic tenant of this group which sees it impossible to replace bureaucracy. Even though bureaucracy seems to be damaging for business companies these authors and managers insist that without it the business firm would face total collapse. It will be impossible to handle all daily, routine, issues without an established bureaucracy. Of course, that these authors do agree that the design and structure of a bureaucracy should be modified in order to meet the new conditions developing in the market.

Here they agree with the above-mentioned authors that local autonomy can be extended for various units inside the corporation but they will have to report to a central management team. This is done in order not to lose control over the policy of the company since the management team is the representation of the shareholders. It is the top management which that have to overview corporate interests.

Reference List

Gomez-Mejia, R. David, B. Robert, L. 2008. Management: People, Performance, Change, 3^rd edition. New York: McGraw-Hill.

Ghosh, G. November 11, 2005. Guatam Ghosh on human resources: points of view regarding organizations, work and people. Web.

Jannifer, D. 2005. The Unexpected Employee and Organizational Costs of Skilled Contingent Workers. Human Resource Planning, Vol. 28 Issue 2, p32-40.

Jones, R. G. 2004. Organizational Theory, Design, and Change: Text and Cases, 4^th edition. Prentice Hall Publishing House, United States of America.

Timmons, A. & Spinelli, S. 2004. New Venture Creation: Entrepreneurship for the 21st Century, McGraw Hill Professional, Boston MA.

Introduction

Looking for a new job can be a difficult and frustrating task. One should pay attention to a lot of moments that influence the choice. Considering a new position is a time-consuming mission. Everyone must be sure that he or she has not wasted time for vain thinking. All people have personal preferences about the vacancies; nevertheless, there are common factors that are significant for everyone, namely earnings, opportunities for promotion, and personal importance for the organization.

The analysis of Chad Brooks article

The article entitled Wait! 5 Things to Consider Before Accepting a Job was published online on July, 9 in 2014 on the website Business News Daily. The author of the article is Chad Brooks. He provides readers with information about the results of Spherion Staffing Services survey considering the pros and cons of changing employer and key points that are worth allowing for while applying for a new job. According to Brooks (2014), choosing a new company does not always mean a successful advancement. In the following part, the author introduces the fact that almost sixty percent of workers have agreed that the best career progress is possible with one organization. Besides, they have concluded that changing an occupation every five years may do harm to the long-term career. The primary advantage of staying with one employer lies in the fact that the company will give preference to the dedicated workers during layoffs. Then Chad Brooks dwells on the significant aspects concerning the choice of a new position. Compensation is the first thing to take into account. Every candidate should receive fair pay that is equal to qualifications. The next factor is the feeling of personal value in the company. That is a great motivation for everyone as far as it enhances the workers self-appraisal and readiness to work hard. The third feature is the future collective. One should not forget about the culture of the company. It is advisable to do research and find out whether the companys activity meets ones expectations. The last issue refers to the opportunities for advancement. There is no point in choosing a position if a new one cannot guarantee promotion opportunities.

In my opinion, the article is of great magnitude for every employee. It ascertains the crucial factors concerning the choice of job. However, there are things I find rather controversial. For instance, some people are interested only in earning money without making a lot of effort. That is why such factor as opportunities for promotion is not valuable for them.

The analysis of Chris Passas article

Most Important Factors in Looking for a Job is the second article that was written on July, 7 in 2015 by Chris Passas. The author discusses four common factors everyone should pay attention to while applying for a new position. Passas (2015) states that salary, commuting, career advancement, and the level of independence are the key points. One should make it clear whether the company offers incentive pay and what exact type of job one has to perform. A candidate should not choose the position if something about it seems unsatisfactory. Daily commuting is one more issue to think over carefully. One has to calculate what part of the salary is to be spent on getting to the office. People forget about that factor very often. It is of great significance to bear it in mind before accepting a job otherwise a chosen position may turn into a nightmare. Chris Passas considers possible career promotion, fair evaluation of talent and performance, as well as working in a positive environment to be good options for the job. That is the fourth factor. It is up to the candidate to clarify what colleagues skills are to be managed and if he or she has the necessary abilities and qualifications to implement the job successfully. The last factor deals with independence. Passas introduces the opinion that not all workers are ready to become supervisors while others cannot help being managed. Thus, it is the primary task of any candidate to find out whether the job includes working on projects, communicating with clients, or building up new strategies. In addition, every candidate should define the priorities concerning the desire to become a valuable employee or just execute everyday work without much commotion.

I find this article more informative than the previous one as far as it includes additional aspects. Though Passas dwells on only four factors, he manages to cover all important facets of changing the working place. I like the authors manner of presenting the information. It is fair and not idealized. He understands that all people have their own preferences and goals concerning the occupation.

Conclusion

Both articles familiarize readers with general factors to consider when applying for the job. The provided information facilitates the process of job search for every employee. Having analyzed the content of the articles, one may come to the conclusion that earnings, possible career promotion, and the role in the company are the most significant factors to take into consideration while looking for a new job.

References

Brooks, C. (2014). Wait! 5 Things to Consider Before Accepting a Job. Web.

Passas, C. (2015). Most Important Factors in Looking for a Job. Web.

Introduction

One thousand dollars is not a lot of money for transforming my handball club team. However, this is a substantial amount that can be used accountably and wisely to make a difference in one day. Such an amount can be a supplemental budget that can see the team members motivated through equipping the team with kits, renovation of the playing courts, and organizing and conducting a seminar to enhance the mental skills of the game, among other activities. This essay describes how I would like to develop my handball club team in which I play, with the consideration that $1,000 is a substantial amount in the short run but obviously a small amount in the long run.

The Handball Team Development

With 1,000 dollars, I would buy handball computer games that would be available to all the team members. This would be very helpful in enhancing the playing skills, thus bettering the overall performance of the team. In addition, the computer game would be indispensable in teaching handball to upcoming players and young team members who have just joined the club, at their own convenience. The computer game would cost approximately $360 for all the members to install on their personal computers.

My team is currently experiencing a shortage in funds to buy new playing kits leaving the players to use old and sometimes worn out old kits. Sometimes the kit is too expensive for some players to afford. It is for this reason that I would set apart some amount of money for the purchase of a new kit for all the players. This would include essential clothes and shoes as well as handball balls. In addition, our playing court is worn out in some places, and I would enhance the condition of the court with some amount of 1,000 dollars. The renovation of the court would include repainting and marking the court, repairing goalposts, and filling worn-out ground.

Approximately 100 dollars would be used to buy several handball balls, whereas an approximate $350 would be used for renovating the courts and the remaining items that form part of the handball kit. To improve the morale of the team members, I would set a certain amount of the money to invite a motivational speaker who specializes in motivating handball players to talk to the team members to enhance their morale and interpersonal skills that are helpful in the success of the team. This would be catered for using the remaining 190 dollars would be used for hiring a motivational speaker who would also help in enhancing self-confidence and positive routines among players as part of enhancing the mental approach to handball.

Conclusion

There are many more needs, such as catering for stipends, constructing a new court to cater for the growing team, and paying for insurance coverage that my team would desire to be met. However, the limited amount of $1,000 cannot attend to all the needs hence the decision to use the money in the above-described ways. In addition, given more than a day to implement the budget of $1000, it is possible to initiate some long run projects using the money, eventually improving the team performance at the community and national level.