Corporate Law Coursework Example | Topics and Well Written Essays - 3000 words

Corporate Law - Coursework Example However, by virtue of a floating charge, the charge is for the most part treated as unsecured allowing the company to deal with the asset or assets to which the charge is attached as if it was not subject to a loan.9...... Should DART fail to satisfy the terms of the loan agreement, the lender will have the right to take possession of the asset subject to the fixed charge. This limits the extent to which the company may deal with the asset subject to a fixed charge until such time as the loan is discharged. However, by virtue of a floating charge, the charge is for the most part treated as unsecured allowing the company to deal with the asset or assets to which the charge is attached as if it was not subject to a loan.9 In addition or as an alternative, lenders may insist on including a clause in the loan agreement allowing them to have a measure of control over the business transactions of the company. This kind of an arrangement involves an obligation on the part of corporate management to obtain the lender’s consent prior to conducting specific business transactions.10 There are other mechanisms that lenders may use that go beyond that which is typically characteristic of a simple loan agreem ent. One of these mechanisms is the attachment of larger than usual interest payments or the retention of title to an asset purchased by virtue of a loan until such time as the loan is discharged.11 Essentially, the various mechanisms of going beyond the simple loan agreement for additional lender protection are known as â€Å"creditor self-help†.12 C. If new ordinary shares were to be issued, to raise additional capital, the entitlement of each of the existing shareholders to these shares Ordinary shares confer upon the owner the right to dividends as well as voting entitlements.13 When a company contemplates issuing new ordinary shares it must first offer those shares to existing shareholders under the right of pre-emption.14 However, since the statutory provision prescribing pre-emptive

Marketing Plan Essay Example for Free

Marketing Plan Essay Marketing Plan is defined as written plan that is used to guide an organization’s marketing activities for a period of two years or less. It is quite detailed and specific, and it helps an organization coordinate the many steps and people that play a role in marketing. * Marketing plan is also called as tactical plans or short-term plans. * Strategic plan or a long-term plan is a three-year or more that is more general and less detailed than tactical plans. REQUIREMENTS FOR AN EFFECTIVE MARKETING PLAN 1. Fact-based It must build on previous research and analysis. A plan is established on managerial hunches is like a house of cards; if one key assumption is proven wrong, the whole plan falls apart. 2. Organize and coordinate It must be as specific and detailed as possible. It needs to clearly identify the departments and people responsible for specific tasks; it must also describe the promotional and other materials that are required. The required level of sportsmanship should be clarified, including the quality and level of effort and service from all involved. 3. Programmed It must be orchestrated so that activities are carefully sequence. Timing is vitally important in marketing. Thus, a marketing plan must have a detailed, staged timetable. 4. Budgeted Every marketing plan must be budgeted carefully. In fact, several tentative budgets should be prepared before the organization decides on a final figure. 5. Flexible Unforeseen events will happen. Therefore, no plan should be cast in stones. The marketing plan should be adjusted if it appears that objective will definitely not be achieved, or if there are unexpected competitive moves. Contingency planning must built in. This means allowing some room in the plan and marketing budget to take care of unexpected events. 6. Controllable Making a plan work as it was originally designed is perhaps even more difficult than developing it in the first place. Every plan must contain measurable objectives and ways to determine, during the planning period, if adequate process is being made toward satisfying these objectives. The plan must also define who is responsible for measuring progress. 7. Internally consistent and interrelated Most parts of a marketing plan is interrelated and, therefore, need to be consistent. For example, advertising, internet marketing and other promotions must work together for better for greatest impact using integrated marketing communication (IMC). 8. Clear and simple Being detailed does not have to mean difficult. It is not enough that the plan’s architect is the only one who understands it. The efforts of many go into creating a successful marketing plan. Objectives and tasks must be clearly communicated. Possible areas of overlap, confusion, or misunderstanding needs to be eliminated. BENEFITS OF HAVING A MARKETING PLAN 1. Activities matched with target markets. Assuming that a segmented marketing strategy is being used, a plan ensures that the activities are focused only on chosen target markets. One of the steps in writing the plan is detailing the marketing mix (8 Ps) on a market-by-market basis. Budget waste from appealing to unattractive target markets is avoided. 2. Consistency of objectives and target-market priorities. The questions: â€Å"How far should the plan go to meet objectives?† and â€Å"Should each target market get equal attention?† are resolved by a good marketing plan, which ensures that the level of effort is consistent with the marketing objectives for each target markets and the relative size of each market. The more ambitious is the objective, the greater the required effort. 3. Common terms of reference. A marketing plan details activities for many people both within and outside an organization. A good plan provides common terms of reference for all. It carefully coordinates their efforts. It improves communication among those responsible for marketing and is great help in orienting outside advisors such as advertising agency staff and website designers. 4. Assistance in measuring marketing success A marketing plan is a tool of marketing management, because it provides the basis for controlling and evaluating marketing activities. 5. Continuity in long-term planning Marketing plans complement strategic market plans and provide a link between short and long-term planning. They ensure that an organization’s long-term goalsare always kept in focus. Because they are carefully rationalized and detailed, marketing plans remain useful even if their originators leave the organization. CONTENTS OF A MARKETING PLAN There are three parts to a marketing plan: the execurive summary, the marketing plan rationale, and the implementation plan. 1. Executive Summary is a brief summary of the major highlights of the marketing plan; it is for the organization’s executives to quickly review. The executive summary should be no more than two to four pages long and should be easy to read. It is called â€Å"executive† because executives can pursue it quickly, but still get it a ggod grasp of the main reason, intiatives, and costs for the marketing plan. A good approach is to sum up the highlights of each of the main sections of the markting plan rationale and implementation plaan. These highlights can be presented in the order in which they appear in the plan, according to the five key questions in the hospitality and travel marketing system. 2. Marketing plan rationale explains the facts, analyses and assumptions upon which the marketing plan is based. It describe the marketing strategies, target markets, positioning approaches, and marketing objectives seleccted for the plaaning period. The marketing plan rationale provides a historic record for those putting together future marketing plans and strategic market plans. It is also very helpful to outside advisors, such as advertising agencies and website designers, who are asked to handle only one specific task. The marketing plan rationale has two parts: a. Situation Analysis Highlights (where are we now?) is a study organizations strengths, weaknesses, and opportunities. It plays an important role in constructing marketing plans because marketing plans must build upon the organization’s marketing strengths, address major competitive weaknesses, and capitalize on identified opportunities. * Environmental Analysis The marketing plan should list and briefly discuss the major opportunities and threats presented. It should explain what impact is expected during the planning period. * Location and Community Analysis New factory or plant openings, major events to be staged, business closures or workforce reductions, residential development, industrial expansion, and new highway construction or redesign are just a few things that can have a very positive or negative effect on an organization or destination in short time span. The events should be identified and summarized in the marketing plan, and their impacts reviewed. * Primary Competitor Analysis It should also highlight each side’s competitive strengths and weaknesses. * Market Potential Analysis Should include the highlights of special marketing research studies. * Services Analysis The market plan should discuss such development projects and how they will be integrated with other marketing-mix (8P) activities. * Marketing Position and Plan Analysis The marketing plan and position analysis does just that; it goes over what has been done before so important lessons can be learned for future marketing planning. A synopsis of the organization’s current positioning in its target markets and the effectiveness of activities in previous marketing plans is presented. * Major Strengths, Weaknesses, Opportunities and Constraints This part of the plan is similar to summary. It forces marketers to consolidate all key situation analysis and other research findings. It should involve attaching relative importance weightings and priorities to identified strengths, weaknesses, opportunities and constraints. b. Selected Marketing Strategy (Where would we be like to be?) This details the strategy that the organization will follow in the next one to two years. It explains the facts, assumptions, and decisions influence strategy choices. * Market Segmentation and Target markets The plan should briefly review the segmental approach and characteristics used to divide the market. Some statistics should be presented on the size of the market segments and the organization’s penetration or market share of each. The selected target markets should be discussed, along with the reasons for choosing them. It is also useful to briefly review why other market segments are not being targeted wnd how the chosen target markets will interact with each other. * Marketing Strategy The plan should explain the analysis and assumptions that supported these choices. * Marketing Mixes The market plan should review these individually for each target market. A more detailed list of activities comes later in the implementation plan. * Positioning Approaches The marketing plan should explain how the positioning approaches will be reflected in each marketing-mix element (8 Ps). * Marketing Objectives The objectives for each target market should be clearly stated. They have to be result-oriented, stated in numerical terms, and time specific. A good idea suggested by some experts is to break up each objective into milestones. This means dividing each objective into sub-objectives with specific time deadlines. 3. Implementation plan (action plan) details the activities, marketing budget, staff responsibilities, timetable, and method of controlling, measuring and evaluating activities. The function of implementation plan is to specify all the required activities , responsibilities, cost and budget, time schedules, and control and evaluation procedures. It is sometimes called an action plan. A. Activities Plan (How do we get there?) It details the marketing mixes for each target market selected. It provides the specifics on the entire task required for each mix element of each target market. * Activities by Target Market All plan activities should be listed and described. It is best to do this separately for each marketing-mix element, and to arrange task in a time schedule based on when they will be initiated. * Responsibilities for Activities In most cases, several departments or divisions, many organization employees, and some outside firms will play a role in implementing the marketing plan. They must know what is expected in each one of them. A good way to do this is to know the description of responsibilities into the marketing plan and to identify each responsible party in the timetable and activity schedule. * Timetable and Activity Schedule This is a key part of the plan that is frequently referred to as the plan is being implemented. It should show each activity’s starting and completion dates, where the activity is to be carried out, and the persons responsible for the activity. B. Marketing Budget (How do we get there?) Every marketing plan should include a detailed budget that outlines how much will be spent on each of the 8 Ps or marketing-mix element for each target market. Knowing how much money to allocate to marketing as a difficult decision, but a good marketing budget should meet these four criteria: * Comprehensive All marketing activities or task or task are identified and estimated. * Coordinated Budgeting for all activities or tasks is carefully coordinated to avoid unnecessary duplication of effort and to maximize the synergy among budget items. * Practical The budget specifies the sources of the money and human resources for the marketing activities and tasks. * Realistic Marketing budget cannot be set in isolation from other departments’ priorities and activities. They have to be related to the organization’s resources and position in the industry sector. WAYS TO ESTABLISH MARKETING BUDGETS The most effective is known as the objective-and-task or empirical method. This process follows the zero-based budgeting idea, which means that every budget starts at zero each year and then builds up activity. A multi-stage budgeting process is used. The advantages of four budgeting approaches are as follows: 1. Historical or Arbitrary Budgeting This is a very simple approach. A certain amount or percentage is added to the last marketing budget. The budget increase is often set close to the economy’s rate inflation. 2. Rule-of-thumb Budgeting This approach is also known as the percentage-of-sales or heuristic method. In this method, the budget is calculated using an established industry sector average, and is usually a percentage of total sales revenues. 3. Competitive Budgeting This approach is also called competitive-parity approach. Like the previous methods, this one is easy to use. All that is needed is information on what competitors are budgeting for marketing, which can be found by reading published materials on these organizations or by studying their annual reports. Because this method begins by assuming that some amount will be spent in relation to a specific competitor, kt is nat a zero-based approach. 4. Objective-and-Task Budgeting This works exactly the way it sounds; marketing objectives are set first and then the activities or tasks to achieve them are detailed. The budget starts at nothing, which implies that it is a zero-based approach. Some called it build-up method, because an organization establishes the budget from the bottom up rather than starting with a total amount and then deciding how to spend it. C. Control Procedures (How do we know if we get there?) Controlling the plan is a marketing management function. To control effectively, the manager must know what is expected (desired results), when it is expected (progress points or milestones), who it is expected of, (responsible parties), and how expectations are to be measured (measures or metrics). Financial control of the marketing plan is achieved through budgeting and periodic reports that compare budgeted with actual expenditures. D. Evaluation Procedures (How do we know if we got there?) The ultimate test of a marketing plan’s success is the extent to which its marketing objectives are achieved. In addition to this type of analysis, results must be reviewed carefully on an objective-by-objective basis. Effective evaluation requires expected results and measurement techniques, metrics, performance standards, and a timetable for evaluation.

What The Dsm Attempts To Do Psychology Essay

What The Dsm Attempts To Do Psychology Essay DSM-IV is a classification of mental disorders that was developed for use in clinical, educational, and research settings. American Psychiatric Association, DSM-IV-TR, 2000 What the DSM attempts to do is have specific criteria for specific disorders, but at the same time, not have the manual be used in a cookbook fashion. Meaning that the specific diagnostic criteria in the DSM are meant to serve as guidelines concurrently with clinical judgment. As we all know, each disorder included in the DSM has a set of diagnostic criteria that signify what symptoms must be present in order to meet the criteria for a diagnosis. Conversely, there are some disorders where there are symptoms that must not be present in order for an individual to be eligible for the diagnosis. A strong point of this particular set-up of the DSM manual makes finding the disorder and its diagnostic criteria easier because of its conciseness. The use of the DSM diagnostic criteria to diagnose has been shown to increase diagnostic reliability (Mezzich, 2002). As noted above, the DSM-IV is a manual that helps outline mental disorders. A major strength is that healthcare professionals such as physicians, psychologist, psychiatrists, and others combined their resources and knowledge to create a universal manual (Well in the US anyways) (Speigel, January 3, 2005). Also, the DSM is used for appropriate coding for billing and insurance purposes which, for most psychologists, is imperative in order to receive reimbursement for treatment. Another strength of the DSM is that it allows researchers to gather a group of patients who meet the described criteria for the disorder, try different treatments, and compare the results. For example, a percentage of patients with social phobia might be helped by placebo, and if a greater number will be helped by a psycholeptic, or psychotherapy, or whatever the treatment is in their design, then one of these treatments can be found valuable. This is important because the idea of evidence based treatment appeal s to the general public, to the field, and is just common sense. Therefore, it is known that empirical data is more useful than untested theories and endless debates that are not proven by research. One weakness that I have found is the reoccurrence of including the social effects of disorders in the criteria by which the same disorders are identified (Widiger Sankis, 2000). It has been argued that when a person meets or exceeds the criteria for a disorder, the DSM does not satisfactorily take into account the context in which a person is living, and to what degree there is a disorder of an individual versus a psychological response to their negative environment (Chodoff, 2005). Therefore, should someone who is in a very poor living situation (emotional or physical abuse, in poverty, ect) these may be the sole factor for some their symptoms, so should it still be assessed in the criteria? Sometimes, an individuals quantity of impairment is often not correlated with symptom counts, and can stem from various individual and social factors, the DSMs standard of distress or disability can often produce false positives (Spitzer R.L., Wakefield J.C., 1999). However, the reality still is that some individuals who dont meet all the symptom criteria may still experience similar suffering or dysfunction in their life. The DSM-IV is practically known as a categorical classification system. The categories are models, and a patient with a high relation to the model is said to have that disorder. The DSM-IV (2000) states, à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"there is no assumption each category of mental disorder is a completely discrete entity with absolute boundariesà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚  At the same time, unique, mild, or non-criterion symptoms are not given any importance in the diagnosis (Maser, JD., Patterson, T., 2002). On the other hand, qualifiers are sometimes used when explaining the level of disorder; for example: mild, moderate or severe forms. For many the disorders, symptoms must be adequate to cause à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"clinically significant distress or impairment in social, occupational, or other important areas of functioning. (APA, DSM-IV-TR, 2000) It has been said that ever since the DSM was created, it has been argued that its system of classification makes indiscrete categ orical distinctions between disorders, and uses somewhat random cut-offs between normal and abnormal (Widiger Coker, 2003, p. 3). I agree that the cut-offs seem a bit arbitrary, and though it is not always voiced, my professors seem to silently have the same opinion. It has been argued that rather than using a categorical approach, a fully dimensional or continuum approach may enhanced the diagnosis people and make it more individualized. (Dalal P.K., Sivakumar T., (2009). What I feel would make the next version DSM superior comes from a suggestion by Dr. Kraemer at the American Psychiatric Association 2007 Annual Meeting, in San Diego, California. (Busko, June 14, 2007) She stated that the purpose of a diagnostic system of mental health disorders, such as the DSM, is not to say what is normal or acceptable but to describe the presentation of a person who comes to get clinical help. The point being made is when a healthcare professional uses the DSM they have to answer this question,Does the patient fit this mental disorder category? Right now, there are only 2 options: Yes or No, which makes the DSM very categorical. However, a dimensional diagnosis, would give us 3 or more potential values that can be ordered. An example, provided by Dr. Kraemer was: While I think that having more than a binary option is a good idea, I am not sure about this Absolutely Sure or Unsure categorization that is presented. Yes, the diagnostic classification should lead to a diagnosis that is reliable and valid, but it should also trust in the professionals life experiences and knowledge in determining how any one disorder is presented in an individual. At the same time, I am cautious about having a classification system that starts running into subclinical diagnosis. I feel that this would lead into everyone leaving a psychologists or psychiatrists office with a disorder. One side note I would like to add, is that as it has been presented by the APA, the DSM-5 is leaning towards making Aspergers Syndrome a combined disorder with Autism Spectrum Disorder. As a person who has a brother with Aspeger and having worked with the general Autistic community, I feel abhorred that such a thing would be considered. They are similar, but not the same thing. Especi ally when we are discussing an individuals ability to live independently and function in their community. For me, this would be like combining Schizoid personality disorder and Schizotypal personality disorder. Well, I will just stop my rambling for now. Hello Ms. XD, I hope you are doing well. After our evaluation and my consultation with my supervisor, we have determined that you have Panic Disorder with Agoraphobia. Within Panic Disorder, you can have panic attacks. A panic attack can described as an event of very intense fear or uneasiness that comes on rather quickly. People can experience Panic Disorder in different ways, but some of the symptoms are: chest pain, feeling like you are choking, a feeling like you might be dying, feeling like you may have not control of your emotions. You can also have hot flashes, chills, nausea, numbness, shortness of breath, sweating. fast heartbeat, or you may start shaking. Once again, these symptoms can start all of a sudden and usually gets more intense as time goes on, but these feelings usually peak within 10 minutes. You also have Agoraphobia along with your Panic Disorder. This means that you may have a strong fear of being in a difficult or embarrassing situation that you cannot escape from. Some people who have severe agoraphobia may not want leave home. There may be certain locations or situations that may make you concerned that you will have a panic attack. These feelings can have a big impact on your social, work, or educational life. It may make it difficult for you to be around others because you may be concerned that you will have another panic attack. Panic Disorder with Agoraphobia is one of the most common anxiety disorders. Approximately 1-2% of the general public have this disorder. Panic Disorder with Agoraphobia can start at anytime during someones life, but it usually starts in adolescence and mid 30s. It is rare to have Panic Disorder with Agoraphobia over the age of 45. So you fit the within common age range of occurrence. Also, with Panic Disorder with Agoraphobia, females are 3 times more likely than males to have it. If someone in your immediate family also has this disorder, you are 8 times more likely to get it. Panic Disorder with Agoraphobia is generally considered chronic. This means that it is not likely to go away in the near future. However, the severity can go from very low to very high while you have Panic Disorder with Agoraphobia. You may eventually stop having panic attacks, but it is common to still have the symptoms of agoraphobia. There are many reasons on how Panic Disorder with Agoraphobia happens, but there is no one direct cause. Some think there is only a genetic reason why this happens. That means that it is in your genes that were transferred on from your parents. It is also believed that panic disorder may be a learned behavioral response to stressful situations. This means that you may have learned at some point during your life that, maybe unconsciously, it was okay for you to react in a certain way and that is what has lead you to have panic attacks. It is also thought that some peoples brains are wired in a way that makes it easier and more common for them to have a panic attack. These are all possibly reasons why you have Panic Disorder with Agoraphobia, but the important thing now is to look into what the best way to treat it. There are many different options. For medications, there are a variety to choose from, but the most common medicine to use is called an SSRI. Some medicines that you have h eard of before, such as Prozac and Zoloft, are SSRIs. You have about a 60% chance of being panic attack free if you stick with your meds. However, if you dont, it is very likely that you will have more panic attacks. Another choice is using a specific kind of psychotherapy called Cognitive Behavioral Therapy. CBT is a type of therapy that helps you focus on how you think about things and how you behave. Within CBT is something called Panic Control Treatment. This would meant that you would experience the symptoms of a panic attack in a safe environment. Along with this you would learn deep breathing and relaxation. I highly recommend that you go with this therapy. Therapy and medicine can be combined, but that is up to your physician or psychiatrist to decide. Ms. XD, I hope the best for you and please let me know you if you have an issues or concerns.

Most Significant Issues Facing Health Care Organizations Essay

Formed in 1998, the Managed Care Executive Group (MCEG) is a national organization of U.S. senior health executives who provide an open exchange of shared resources by discussing issues which are currently faced by health care organizations. In the fall of 2011, 61 organizations, which represented 90 responders, ranked the top ten strategic issues for 2012. Although the issues were ranked according to their priority, this report discusses the top three issues which I believe to be the most significant due to the need for competitive and inter-related products, quality care and cost containment. The Managed Care Executive Group (MCEG) The objective of the MCEG is to provide channels to exchange information between managed care/health plan information systems executives and to provide opportunity for personal networking. MCEG provides a forum to develop policy which relates to the use of information technology and healthcare. MCEG provides feedback to vendor sponsors and other vendors on the trends and types of technology needed to ensure that their products and strategies meet their customer’s present and future managed care needs. Additionally, their objective is to â€Å"educate executives on clinical and administrative trends in health care, new and emerging technologies, and other pertinent information to assist in achieving the key goals of cost containment, effective service and high quality health care.† (Why We Matter, 2011) Administrative Mandates (Compliance HIPAA 5010, ICDE-10) Administrative Mandates, including the Health Information Technology for Economic and Clinical Health (HITECH) Act, ICD-10 and HIPAA 5010, are all part of administrative simplification and the need for systems optimiza... ...ntial in ACOs. Retrieved January 16, 2012 from http://www.healthmgttech.com/index.php/solutions/payers/eight-reasons-payer-interoperability-and-data-sharing-are-essential-in-acos.html Wise, N., & Taylor, F. (n.d.) Moving Forward With Reform: The Health Plan Pulse for 2012 and Beyond. Retrieved January 16, 2012 from http://www.htms.com/pdfs/MovingForwardWtihReform2012_HTMS_MCEG_Whitepaper.pdf Payer/Provider Inoperability. (2011). Retrieved January 13, 2012 from http://www.mceg.net/top-10/payer/ The Managed Care Executive Group. (2011). Retrieved January 13, 2012 from http://www.mceg.net/ Top 10 issues for health plans in 2011. (2011, April 5) Healthcare IT News. Retrieved January 13, 2011 from http://www.healthcareitnews.com/print/24881 Why We Matter. (2011). Retrieved January 13, 2012 from http://www.mceg.net/about-us/why-we-matter/

Growing Acme Fireworks Essay

There is much to consider when expanding a business. How will you make, market, and distribute your product. Are you willing to take full liability for your product and understanding the legalities of what happens if your product is defective? Once that has been established, it’s important to make sure that your business dealings are in order. The strength of the contract and what all it entails. Knowing that the legal document is important more so when things tend to go downhill. Above all is deciding which type of business entity the company will select especially if the company starts out small and looks to expand. Which entity will best serve the growth of the company such as Acme Fireworks? Some years ago I watched a movie called fight club. The movie dealt with a ton of social issues. One of the characters worked for a car company that would fly out their employers out to the areas where there were car accidents. They worked almost as an insurance adjuster that would com e and appraise a vehicle once it has been in a wreck and determine, based on the damages how much they would award the car owner. However in the case here the employees would view accidents all over the country and decide if it would cost more to recall the product or pay the total fee for the said accident. If the cost was too much to do a recall then the company would take responsibility for the accident if a law suit is brought forth, however if it is cheaper to recall then the necessary actions would be taken to recall the malfunctioned part. Knowing this it is important that we label the products and its proper uses so if there is an issue then it can be said that the manufacture warned the consumer. In this way, any injury would not be the fault of Acme Fireworks, but the consumer. Just as the example with the cars above, if someone lights a firecracker in a closet and the firecracker goes off and injures the person then the company is not liable being that it is neglect  on the part of the consumer (Rogers, 2012). Now if the same individual uses the firework outside in an open area as is stated on the label and they light the firecracker and it goes off in their hand as soon as the fuse is lit, then that is negligence on behalf of Acme. It must be understood that regardless of the product used, all products have the potential to cause consumer harm (Anthony, 1995). So that is why it is important to make sure everything from the development of the fireworks to the warning labels have been gone over to make sure that the product is not faulty. If a fuse is too short in a product or if the material used to cause the firecracker to explode is too much then that is a defectively manufactured product. Another issue could also be the type of firework that is made. Let’s say for instance that one of the products has the tendency to go off in extreme temperatures and is purchased and placed in areas of storage when the temperatures extreme then that is negligence on the consumer, however if the consumer was not made aware of this by the manufacture then the liability falls to the company. I recall about three years ago when I was in a car accident. Our brakes that we had from the car company had been recalled. We were sent notices in the mail, phone, and email about the recall and were told to bring our vehicle in to make sure the brakes were not faulty and if they were they could be fixed free of charge. The deadline came and went a after it expired I was in a car wreck. I was making a turn in the rain and slammed my brakes and they were locked. I had the repair work done on the vehicle and was told that the brakes were faulty. I informed the dealership of the issue and was told that the company was no longer liable because the deadline had passed. I was outraged and wanted to file a lawsuit against the company, however there are deadlines and limitations to when a suit can be filed and in the state of Georgia, you have up to a year to file such claim. I missed it by 3 months and was unable to file suit against the manufacturer (Day, 2014). Another import issues are the contracts. There are 5 basic elements to a contract: Offer, acceptance, Consideration, Legality and Capacity (Rogers, 2012). Other retailers stated to the owner of Acme Fireworks that they wanted a certain amount of orders filled on a regular bases for an undisclosed time frame and a price was agreed upon, this is the acceptance and offer portion of the contract. The offeror, which in this case are the large retailers, makes an offer which once accepted by  Acme Fireworks, creates a binding contract. Acceptance must be in some way agreed b y all participants; it may be verbal, symbolical, oral or written. The came from the retailers, they had a want from Acme to manufacture a product for them at a certain cost (Stim, 2010). Consideration is another element of a contract and what consideration brings to the table ask the whys and what’s: Why are we entering the contract and are you receiving? In this case Acme gets more money by being able to produce its products and grow their brand and the other retailers receive fireworks from Acme. However in this instance the owner of Acme may have taken on a task bigger than himself. This is a company with only 15 workers and to fill the orders with the new retailers, more employees need to be hired. Not only do they need to be hired, but they need to be trained as well. This must be done while filling out the orders. Here there is not much consideration given by the owner. How many employees do we need, how much will the work flow increase, and how long will we have a contract with the other retailers. No time period was given for the contract. Will this just be one order or is this something that will go on annually. What happen if the orders are not filled on a timely manner is the contract then void? Another question to ask is the capacity and legality of a contract. Capacity to contract means the legal competence of a person to enter into a valid contract. Usually the capacity to contract refers to the capacity to enter into a legal agreement and the competence to perfor m some act. The basic element to enter into a valid contract is that s/he much has a sound mind. Recently there was an issue with an owner of the L.A. Clippers making comments about minorities. The group of owners in the league wanted him to sell his team. He didn’t want to sell and wanted to fight it, however it came out that he does not have the mental faculties to run the organization or make business decision so that responsibility was given to his wife. It came out that he has dementia, but he is fighting this claim as well. Once it is established if he can mentally make these decisions then the wife will not be able to go into discussions to purchase the franchise legally. Acme has 15 full time employees as it stands now. This is without the orders for the new retailers. What we know is that the owner guaranteed that we can take on more business, not considering the staff that we currently have. For the orders to be filled we would have to take on more labor force. Before this  can be done we have to first consider what we have now. We currently have 15 people employed by Acme, to fill the new orders; do we take on double or triple the size? If we do take on more people, would it be something on permanent or temporary ba ses? Employment is very important when business is involved. There are many things to consider when a workforce is involved. When it comes with dealing with explosives it is important that we consider finding individuals who have experience with working with explosives and are well trained as well. This will cost more money for the company when it comes to hiring individuals that are trained to handle explosives. So these can’t be regular workers that one can find at a temp agency. However, we do not know how long to hire these individuals because there is no clarity as to the length of the contract, so the types of workers that we would have to hire would have to come through labor force agencies (Smith, V., & Neuwirth, E.B., 2009). The great thing about a temp agency is the large pool of people that they have to choose from. There are times when many corporations view temp agency workers as people who are unskilled, however with the types of agencies that are around today, they can find highly skilled individuals that many companies w ould be hard pressed to do, being that they would have to exhaust many resources to do so. It has to be understood that this business started out of a garage a couple years ago and is now grown into a company that employees 15 people on staff. Now with the new revenue that will come into the company, Acme Fireworks will have to expand. Acme is a sole proprietorship owned by one individual. This is the simplest organization structure to have. There is less paperwork as well as the tax implications. If there is a loss for that year you can use this loss to offset your other income on your personal return (Fishman, 2014). Though operating as a sole proprietorship is easier, it can also have some setbacks as well. The main problem is that there’s no separation between the individual and the business with the sole proprietorship. That means that if something should happen in the business, like taking on huge contracts with no clear time line and limited planning and staff, you’d be personally liable. For example, if Acme Fireworks business is ever sued or runs int o financial trouble, the owner would be personally on the hook and creditors and lawsuits can come after your  personal assets. That is an issue because if the company profits go to offset the debt, there is little to no money to run the company properly, expand, or take care of the employees. This is just one of the many things to consider when changing your business entity as well as deciding on what is best for the company as a whole. Acme Fireworks started out of a garage, like most businesses it is difficult to raise capital or arranging long term financing because of fewer assets. Also there is one voice and one view which can scare big business opportunities away. This is why a Sole Proprietorship for the future of Acme Fireworks would not be feasible. Being in this type of entity makes it hard to expand. To grow and expand a company needs a formal business structure. So the choice is which entity to choose? With such an undertaking in such a short time, the risk would cause a sole owner to want to form an LLC or incorporate his or her business. In the case of Acme Fireworks, it would be best to change the business entity to a corporation. With the promise of product to these new large retailers, Acme Fireworks would need more capital to grow the business as well as purchase the necessary material to make sure the new orders are able to fill as well as fulfilling previous obligations to the other retailers that we have business with. Choosing this entity protects the owner from legal liability, gives the ability to attract more investors through stocks, and has more structure where there is not just one voice for the business. The juxtaposition to this is the tax liability and the time and how much it cost to incorporate, unlike a sole proprietorship, incorporating a business takes much more paperwork, as well as fee’s that need to be paid to the state the business is in. One of the silver linings for the employees is that even if something happens to the owner, or if he or she retires, the corporation will still be i n tact unlike sole proprietorships. There are many things to consider when it comes to running a company, expanding it, and watching it flourish. There are many businesses that started out in a small garage, Steve Jobs, Bill Gates, even men like John D. Rockefeller. However, growth cannot take place without determination and risk. The best way to make sure that your ready to expand is to be sure where you want to take the company and have a sound plan as to the steps one will take to get there. Once you have a vision and financial backing the  next step is to decide which type of business entity you want to be. There are many entities to choose from and no one is greater than the next. It’s all about how you want to mold and model your business. Reference: Anthony, S. (1995). Warning: marketers must do better with product warnings. Marketing News, (13). 4. DAY, J. A. (2014). Protecting Yourself from Statutes of Repose. Tennessee Bar Journal, 50(1), 33-34. Fishman, S. (2014). CHAPTER 2: Choosing the Legal Form for Your Business. In , Working for Yourself (pp. 15-54). Nolo. Smith, V., & Neuwirth, E. B. (2009). Temporary Help Agencies and the Making of a New Employment Practice. Academy Of Management Perspectives, 23(1), 56-72. doi:10.5465/AMP.2009.37008003

buy custom Team-Centered Leadership in a Health Care essay

buy custom Team-Centered Leadership in a Health Care essay In the health care system just like any other system, the way a leader behaves greatly influences on the way that the employees will behave. A team-centered leadership is one that has all the expertise scattered across different people. Therefore, the individuals in the team have varying contribution which are equally important in the decision making process. The split of ideas is something that creates a competitive nature amongst individuals and this literary leads to the overall unity amongst the employees who are the decision makers. The information and expertise are farther scattered in such a way that it is not one individual that has all the information but all of the members have a part of the information which they pull together to come out with the overall sound decision. In addition to that, there is the need of participation which ensures that there is necessary commitment that is quite effective one ensuring that the employees and the decision makers come out with sound ideas that are helpful in the creation of one module and being unity. This type of leadership is rarely seen but it is quite effective in the healthcare system as it helps the entire employees involved in the decision making to come out with a neutral idea that supports the ideas that they have as a group. When there is not any unity and it is only one player in the team, who makes the decision, it hurts the whole team and that is why this type of leadership encourages unity and is one that makes every contributor feel as if his or her contribution mattered. This type of decision making team is quite efficient when there is the need to have decisions on unpopular subjects. This is because this type of decision making process encourages all the views that there is on that matter and this means that all the employees and the decision makers would say what they have to say on that matter to come out with a sound approach in the end. In addition to that, this type of leadership empowers all the members and so this creates sense of responsibility as the final decision will have to be followed through by all the decision makers (Maddux, 2003). This in the end leads to a dedicated workforce that is creative and in the end benefits the healthcare organization with ideas and unity to ensure that the decision making process that is taken is quite effective. This not only leads to the growth of the organization but also to the admiration by other health practitioners who would wish to join the system. In addition to this, this type of leadership also offers the leaders some aspects of success through various ways and means. The leaders are able to understand the general moods of the employees through non verbal cues. This is effective in studying the emotions and feeling that they have which would help to know the popular and unpopular decisions in the organization. Thus, the leader helps to create unity and this type of leadership is known for the sound unilateral decis ion making process. For that reason, it is much favored in the decision making process. The leader in this type of leadership has various responsibilities including serving as a consultant. Therefore, the leader has diverse knowledge and ideas and this means that he or she has to be the referral point when coming to a conclusion being something that is easy and having taken a long time. The leader is also the facilitator and it means that he or she has the right to deny meeting or continue with it. Therefore, contrary to beliefs, this type of leadership style does not mean that the leader is absolutely powerless. Like any other team, this type of leadership team is governed by the leader who is its chief advisor and also the teacher. The leader in this situation is also responsible for modeling the appropriate leadership behaviors which are beneficial in enabling the team to know the people who can head it and those who cannot. It is in the view of every individual that he or she co mes up with an idea that is supported in order to gain respect amongst his peers. This type of leadership team is quite essential in grooming the members to come out with excellent ideas as for the aforementioned reason. Therefore, the members learn on ways and means of performing well early in the decision making process. A team centered leadership is the type of team leadership that is widely practiced in the current world. This is because it carries with it all the virtues that are deemed as important and very indulging to the employees. It is usually unlike the team spirit that there are failures and that is where the team centered leadership is strong. It is usually easy to come out with ideas as a team since this helps overly to come out with a decision that has passed through a rigorous testing and debating and therefore, it is highly unlikely that the final decision would be wrong. Unlike other team models, a team centered model is always accurate since it creates a percepti on that there is unity in terms of decisions and also participation. It is wise to involve the whole team in decision making if the head would wish to come out with the best results. On the other hand, there is the leader-centered leadership that is discussed below. This type of leadership is usually not the right one to follow since it is in some sense tyrannical. It is not in the wishes of any employee to run a tyrannical business since it would mean that there would be no unity amongst the team members. Fear would also be created which in overall would lead to the loss of participation by the members. This and other factors about the leader-centered leadership are discussed below in comparison to the team-centered leadership. How team-centered leadership differs from the leader-centered approach to decision-makingThe way that a leader encourages the ideas of the team is a great determinant as to whether the members will come out with a unilateral ideology. Therefore, the leader-centered approach and the team-centered approach greatly differ with regard to the way that the overall ideas are arrived. In this type of leadership, the leader usually adopts the authoritarian approach and he or she is viewed as the final decision maker. However, the team-centered leader is the direct opposite as he or she does not have a direct linkage to the way the leader of the prior approach operates. On the contrary, the leader in a team-centered approach is viewed as a member and this means that the final decision making process is usually affected in one way or the other. The decision making approach in this type of leadership is quite fast as opposed to the team-centered type of leadership. Nevertheless, the decisions th at are arrived upon in this type of leadership are not usually effective as they are not well thought over. Therefore, it means that the ideas of a team are not put together which means that there is no clear unity as opposed to the aforementioned decision making process. Due to the central decision making process, the team members usually become reluctant and this so leads to the overall failure by the decision making organ to be effective and sound. The team members are controlled and this means that they cannot be given a chance to come out with free but well thought ideas and what this means is that they are not the best members to consultant whenever there is a matter of concern. This is in the contrary to the team-centered approach to decision making as all the members in the group are encouraged and independent to come out with their own ideas; therefore, this means that there would be variety and, hence, the final decision is usually the best in term of ideas. Many contempor ary healthcare organizations prefer this type of decision making process whenever they want to come out with a good decision (Block, 2011). In addition to the aforementioned contrast in the approach to decision making, this type of decision making team is different to the team-leadership since the leader of the team always focuses on tasks and does not consider the feelings of different members of the team and, therefore, it means that the decision that is arrived upon is not usually the best and has a lot of loopholes. The final decision being met does not have the approval of all the members and this is contrary to the team-leadership decision making approach and, therefore, the difference in this situation clearly spells itself out. The other difference between them is that in the leader-centered approach to decision making, the leaders seeks the opinions of the team members and also encourages them but when it ones to the ultimate decision, he or she if the one who makes it all by him or herself. This is on the contrary to the approach that is put forth by the people who want to make decisions using the team centered leadership since all of the good ideas are always incorporated and it is through this compromising mode that the final decision is usually very excellent. The leader-centered type of leadership does not have freedom as the leader usually stays in control of all the meetings that are called forth and it is traditionally known that when people feel that they are not equal, they tend to hold their ideas to themselves. This is one of the negative attributes of the leader-centered approach to decision making. On the other hand, when it comes to team centered leadership, the leader is not always in charge of the meetings and these leads to openness by the employees or the decision makers which in return leads to very productive ideas that are very important in ensuring that the whole team feels welcome in one way or the other. Challenges that health care leaders are faced with in terms of decision making within the team environment When it comes to decision making within an environmental team, there are bound to be a lot of challenges that may come up. This is because within a team, different people hold different views and yet they have to come out with one concrete view. Therefore, this means that when it comes to decision making, there is need to be consultation. One of the major challenges that the healthcare leaders face is divergent views. This means that each and every individual comes out with his or her own opinion concerning an issue and they may vary slightly or be quite different. This is usually the case when the matter is contentious. In the modern world, the views of each and every individual are welcome and this means that in this situation, the leader has to find out a way in which he or she can consolidate all of the opinions that each and every member has to offer in order to create clearer understanding and in this process, to make sure that every member is happy with the conclusion being ma de. It is very tasking when this process is practical as opposed to theoretical. The other challenge that the leaders face is that they have to be part and parcel of the team when the decision making process is going on and their views consequently are treated like that of an ordinary member. This is challenging because the leaders may feel the need to be the supreme decision makers since by the virtue that they are superior to all the members in the team which is not the case. Therefore, in the decision making process, this is a challenge to the leader since he has to present views that are not divergent but consolidate all the views that have been aired. Another problem that is bound to arise is the fact that the leader has to gather all the people to come out and participate in the decision making process. This is something that does not easily happen and it means that the leader may or may not be successful in gathering the individuals. This means that each and every individual has different duties that he or she partakes and, therefore, it would not be easy to easily come up with a single time that all of them are free (NAGELKERK, 2006). In the modern world, the professions of healthcare practitioners vary and so this means that the leader has to consolidate the times of all the members which are easier said than done. The other challenge is obtaining commitment. It is not easy to make all the members be committed to the decision making process and this means that the team leader may face a lot of challenges in ensuring that there is thorough commitment so that each member contributes a worthy point in the discussion. The other challenge is the concentration of power. The team leader has to ensure that his or her powers are not concentrated in order to be rational and just in the decision making process. As aforementioned, if the leader is not flexible with his powers, then the members tend to withhold their ideas and this ruined the whole decision making process. The other challenge is that there would always be unpopular decisions amongst the team members and the leader has to accept them as input as towards the decision making process which is something that is not easy to do as it may lead to a fallout within the members of the team. The other key problem in the process is that the leader has to relinquish the powers that he or she has and let the team be in control which is something that is not easy as all the team members have to feel that they are in control whilst the leader would always want to show that he or she is in control of the debate. The final challenge that the leaser faces is that he or she has to ensure that there is a climate of approval amongst the members since if not standard decision is reached then the whole decision making process by the team would be deemed to have failed. How leaders attempt to address these challenges in health care There are various ways and means that a leader takes into account in order to ensure that he or she has addressed the aforementioned challenges. The first option of him or her is to come out with a strategy in which all the members know that they have to meet at certain time at certain venues and therefore, they have to create some time to come together. This can be done through a memo that is distributed through all the members in the decision making panel and it is something that can easily help to come out with a quick and effective solution to the related problem. The other solution that the team leader may come out with is to ensure that the matters being discussed are completely integrated into the decision making process and this would help to ensure that each and every member feel that he or she is a part of the team and is always willing to bring the idea that they have on board (Barr Dowding, 2008). It is also challenging for the leader to be part of a team and yet he is t he supreme member. Therefore, the leaders in the healthcare system adopt the servant leader position and this greatly helps them to be part of a team and yet they are heading it. The team leader also welcomes the divergent views that all the members have due to the fact that all the views that are presented usually matter and that is something that the healthcare professionals usually use to make sure that whatever the decision that they come out with, is always welcome by the members. The aforementioned challenges are not easy to address but the leader is always the person who comes out with the right decision and in addition to a concrete one in the process and this gives the whole team satisfaction and also the will to continue working with the team. In order to run a successful business, it means that there is the need of adversity. Thus, this means that the managers of the new business try as much as they can come out with neutral grounds to cover up these challenges in order t o ensure that they achieve the goals that they have set out to achieve. It is not in the entire sense very likely that covering up these problems belittles someone or the leaders in any sense but it somehow shows the levels that they have reached in terms of adversity. It the real sense, it is impossible to come out with the right measurers if the aforementioned matters are not adequately addressed. The new management world requires that the employees and the employer unite when they are forming ideas and this includes when they are dealing with team matters. The team is that makes the overall success of the business since when running a business, what matters is the ideas that are put forth. The healthcare industry is a sensitive one since it deals with matters of the human survival and, therefore, this means that there is need of the key players to take adequate care when they want to ensure that they do not mess up the whole nation. This is why the leaders usually come out with w ays and means that they are certainly would help to counter the problem of decision making in a team. Therefore, the ideologies that are spread in the aforementioned research are such ones that help the whole society come out with better skilled leaders who are able to challenge diversity. As aforementioned, the leader of the team is the senior most members and, thus and so, he or she is the one who is in charge with the running. However, some factors that makes the job of being a leader in a healthcare environment is the commitment that is presented forth by the members of the various sub committees. Buy custom Team-Centered Leadership in a Health Care essay