Management and Functional Areas free essay sample

1. In the light of the system, describe the decisions to be made in the area of strategic planning, managerial control and operational control? What information would you require to make such decisions? Ans. A management information system (MIS) is an organized combination of people, hardware, communication networks and data sources that collects, transforms and distributes information in an organization. An MIS helps decision making by providing timely, relevant and accurate information to managers. The physical components of an MIS include hardware, software, database, personnel and procedures. Management information is an important input for efficient performance of various managerial functions at different organization levels. The information system facilitates decision making. Management functions include planning, controlling and decision making. Decision making is the core of management and aims at selecting the best alternative to achieve an objective. The decisions may be strategic, tactical or technical. Strategic decisions are characterized by uncertainty. They are future oriented and relate directly to planning activity. Tactical decisions cover both planning and controlling. Technical decisions pertain to implementation of specific tasks through appropriate technology. There are 3 areas in the organization. They are strategic, managerial and operational control. Strategic decisions are characterized by uncertainty. The decisions to be made in the area of strategic planning are future oriented and relate directly to planning activity. Here basically planning for future that is budgets, target markets, policies, objectives etc. is done. This is basically a top level where up-to-the minute information on the food items ordered and breaks out percentages showing sales of each item versus total sales is provided. The top level where strategic planning is done compares the weekly sales totals versus food costs, allowing planning for tighter cost controls. The decisions to be made in the area of managerial control are largely dependent upon the information available to the decision makers. It is basically a middle level where planning of menus is done and whenever an order is voided, the reasons for the void are keyed in which later helps in management decisions, especially if the voids are related to food or service. The managerial control that is middle level also gets customer feedback and is responsible for customer satisfaction. The decisions to be made in the area of operational control pertain to implementation of specific tasks through appropriate technology. This is basically a lower level where the waiter takes the order and enters it online via one of the six terminals located in the restaurant dining room and the order is routed to a printer in the appropriate preparation area. The item’s ordered list and the respective prices are automatically generated. The cooks send ‘out of stock’ message when the kitchen runs out of a food item, which is basically displayed on the dining room terminals when waiter tries to order that item. This basically gives the waiters faster feedback, enabling them to give better service to the customers. The information required to make such decision must be such that it highlights the trouble spots and shows the interconnections with the other functions. It must summarize all information relating to the span of control of the manager. The information required to make these decisions can be strategic, tactical or operational information. Advantages of an online computer system: * Eliminates 3-carbon copies * Waiters’ handwriting issues * Out-of-stock message Faster feedback, helps waiters to service the customers Advantages to management * Sales figures and percentages item-wise * Helps in planning the menu * Cost accounting details 2. What would make the system a more complete MIS rather than just doing transaction processing? Ans. If the management provides sufficient incentive for efficiency and results to their customers, it would make the system a more complete MIS and so the MIS should support this culture by providing such information which will aid the promotion of efficiency in the management services and operational system. It is also necessary to study the keys to successful Executive Information System (EIS) development and operation. Decision support systems would also make the system a complete MIS as it constitutes a class of computer-based information systems including knowledge-based systems that support decision-making activities. DSSs serve the management level of the organization and help to take decisions, which may be rapidly changing and not easily specified in advance. Improving personal efficiency, expediting problem solving (speed up the progress of problems solving in an organization), facilitating interpersonal communication, promoting learning and training, increasing organizational control, generating new evidence in support of a decision, creating a competitive advantage over competition, encouraging exploration and discovery on the part of the decision maker, revealing new approaches to thinking about the problem space and helping automate the managerial processes would make the system a complete MIS. Information System INTRODUCTION As Information system (IS) can be defined technically as a set of interrelated components that collect (or retrieve), process, store and distribute information to support decision making, coordination, and control in an organization. ’ (Laudon, Laudon,) However, Information System has to go through three basic activities, which include input, processing, and output in order to transform its raw data into essential information. Meanwhile, from the business prospective, IS represents an organizational and management solution based on information technology to a challenge posed by the environment. Laudon, Laudon,) Information System is useful for helping organizations to deal with changes in global economies and business enterprise. Firms use Information System on communication and analytic tools for conducting trade and managing business on a global sale. Information System is the basic of service in knowledge economies; new knowledge based products and help firms manage their knowledge assets. By using Information System, a business can adopt flatter, more decentralized structures and more flexible arrangement of employees and managements. (Laudon, Laudon,) Nowadays Information System (IS) has become a vital component of successful organisation particularly for manager in order for organisation to grow and survive. With Information System, it can provide companies with require practical and functional information that leads to efficient, operation, competitive advantage and effective management. On the other hand, Information System can critically damage and negatively effect it prospect as well as bring dissatisfaction and unable to fulfill all the requirements for success and survival if Information System appropriately sustain the business objective operation strategy of an organisation. 98 CHAPTER 7TRANSACTION PROCESSING, FUNCTIONAL APPLICATIONS The major functional areas in many companies are the production operations, marketing, human resources, accounting and ? nance departments. Traditionally, information systems were designed within each functional area, to support the area by increasing its internal effectiveness and ef? cienc y. However, as we will discuss in Chapter 9, the traditional functional hierarchical structure may not be the best structure for some organizations, because certain business processes involve activities that are performed in several functional areas. Suppose a cus- tomer wants to buy a particular product. When the customer’s order arrives at the marketing department, the customer’s credit needs to be approved by ? nance. Someone checks to ? nd if the product is in the warehouse (usually in the production/operations area). If it is there, then someone needs to pack the product and forward it to the shipping department, which arranges for deliv- ery. Accounting prepares a bill for the customer, and ? nance may arrange for shipping insurance. The ? ow of work and information between the different departments may not work well, creating delays or poor customer service. One possible solution is to restructure the organization. For example, the company can create cross-functional teams, each responsible for performing a complete business process. Then, it is necessary to create appropriate informa- tion systems applications for the restructured processes. As we will discuss in Chapter 9, this arrangement can be a dif? ult-to-implement solution. In other cases, the company can use IT to create minor changes in the business processes and organizational structure, but this solution may not solve problems such as lack of coordination or an ineffective supply chain. One other remedy may be an integrated approach that keeps the functional departments as they are, but creates an integrated supportive information system to help communication, coordination, and control. The integrated approach is discussed in Section 7. 8. But even if the company were to restructure its organization, as suggested in Chapter 9, the functional areas might not disappear completely since they contain the expertise needed to run the business. Therefore, it is necessary to drastically improve operations in the functional areas, increasing productivity, quality, speed, and customer service, as we will see in this chapter. Before we demonstrate how IT facilitates the work of the functional areas, and makes possible their integration, we need to see how they are organized and how they relate to the corporate value chain and the supply chain. The value chain model, introduced in Chapter 3, views activities in organizations as either primary (re? ecting the ? ow of goods and services) or secondary (sup- porting the primary activities). The organizational structure of ? rms is intended to support both of these types of activities. Figure 7. 2 maps the majorfunctional departmentsonto the value chain structure. As described in Chapter 2, the supply chain is a business process that links all the procurement from suppliers, the transformation activities inside a ? rm, and the distribution of goods or services to customers via wholesalers and retailers. In this chapter we present innovative applications that increase mainly internal functional ef? ciency, and we provide examples of improved communication and collaboration with customers and business partners as a result of these applica- tions. First, let us examine the characteristics of functional information systems. Functional information systems share the following characteristics: ? Composed of smaller systems. A functional information system consists of several smaller information systems that support speci? c activities performed in the functional area Finance Integration Integration External Systems Other Internal Systems Customers Partners Government KM Engineering Others I n t e g r a t i o n In te g ra tio n Operators CRM Accounting Marketing TPS HRM FIGURE 7. 1The functional areas, TPS, CRM, and integration connection. Note the ? ow of information from the TPS to the functional systems. Flow of informa- tion between and among functional systems is done via the integration compo- nent. (Not showing in the ?gure are applications dis- cussed in other chapters, such as e-commerce and knowledge management. ) 7. 1FUNCTIO

My Ojt Experience Essay Example

My Ojt Experience Essay II. Brief History / Background of the Company / Company Profile The history of this Computer Shop is so inspiring for me because they start in a small business and for being industrious they build a lot of business that make them higher than a eagle. Before we start planning build a computer shop we decided to start selling Shirts, Footwear and some accessories we keep all the money we collect from our small business until we get a place where we can rent for our Computer Shop. We start making computer stands after hat we bought only three (3) Computers and we build our computer shop in the month of June year 2006. One day we start opening our small Computer Shop. Even though I have only here (3) Computers were not expecting that we can have our customers early in the morning even though our price per hour is Twenty Five Pesos (25). In one day we collect only three hundred fifty Pesos (350) but even though that money is too small for us, it is okay because it can help for our business to make It Big. We continue opening our Computer Shop until we buy another Four (4) Computers so we have Seven (7) Computers and because of that we collect a lot of moneys that help us to buy a Printer Machine and a Scanning Machine because of that we are so stressed because there`s a lot of task we do. So we start finding our helper and we find Jiegs Silang he is a High school graduate but he is so intelligent he is a fast learner about computers. He live in Nasugbu Batangas he is our helper until our Computer Shop becomes one year. We decided to name our Computer Shop and the name of it is Awoor Open Kalate Compuer Repair Shop, we decide to that name because we also repairs computer like Formatting and PC Assembling. This business is so amazing because it helps to give education to my children we continue managing our Computer Shop until we collect moneys o buy six (6) Computers so that we have a total of 13 Computers. We complete our computers in he year of 2011. We will write a custom essay sample on My Ojt Experience specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on My Ojt Experience specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on My Ojt Experience specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We are so happy and thankful because we’re not expecting that our business will become long and then we add some small business like Master Shomai, Coco Prince add some, Fish Ball, Kikiam and Kwek Kwek Stall. In the year 2012 were not expecting that the small business we add will become large until we fund a lot helpers, like Michael Silang, Accelle Joy, Darwin Silang and John Paul Montales. They are he one who helps us to build and to manage our business which is seven years from 2006 until 2013 even though we reach seven years we did not decide to stop our business because it help me to have a Good Life. III. Summary of the OJT Experience The Trainee is Mr. John Paul Noveno Montales, On-the-job training is one of the requirements of any students taking up the Diploma in Computer Electronics and Technology. I started in my OJT on month of July 07, 2012 and in this month of July Im pretty well trained to work here because I worked here before and today I start to OJT I achieved like Hard disk drive of the computer is broken and for this work I replaced another Hard disk drive. I also have other achievement such as typing a very long story, laminate of ten pieces of ID pictures, Xerox of one piece of English book and of course all of this were done and completed. And month of August I also have other achievement like if the power supply of the computer is loss and for this work again I replaced another power supply and finally the power supply of the computer is working again. Throughout the month of august I also have other achievement like the ram or memory of the computer is not working for short it was loss and I did this it should be to clean up the memory using a pencil eraser to work it again. Month of August I am still typing a very long story of a parable, Xerox of ten pieces Diploma, ten pieces of Birth Certificate, ten pieces of Bio – Data and laminate five pieces of ID pictures and of course all of this were completed. And now in month of September I’m very happy because my supervisor was promote me to a computer assistant and this I recounted my parents that I was promoted to a computer assistant. I also have another achievement of this month of September like Xerox, printing, laminate and typing another long story of the parable that just as I had done previously. The last time that I’m attend in month of September 30, 2012 I stopped to attend the OJT because I’m very busy to make my project in my major subject and I also review my minor subject and major subject for this coming final exam. The month of November I will begin again to attend the OJT because now I have time to OJT because I`m not too busy in school and my supervisor was very glad because I was able to return to OJT again and I was very glad also. I made this month of November was reformatting ten pieces of computer on the other comp shop but it was owned by my supervisor and I made it two days because relatively long after I reformat and Installed drivers and games of course I finished all do ten pieces of computer and it will be open to earn money. And this month of December I still did OJT and I experienced our Xerox machine was broken and exactly two man who want to undergo Xerox a whole book, and ten pieces of Bio – data and I do not know how to fix the Xerox machine and I call my supervisor to say that the Xerox machine is broken and my supervisor said wait for me to fix the Xerox machine and I told to the customer who want to undergo Xerox was not available but after a few minutes my supervisor came to his shop to fix it and I’m happy for that. I stopped again to attend the OJT and this was the Second time to stop to attend my OJT because that time was to prepare for Christmas and of course this was the day we have a family gathering together sometimes we just take along together and that only occurs when there is an occasion like Christmas. I started again to attend my OJT because I`m not busy in my family and now I have time to attend my OJT and today I will do what should I do like Xerox five pieces of documents and PC assembling. Now I stopped again to attend my OJT and this is the Third time to stop to attend my OJT because today was New Year’s Day and Im happy because this was the day we have a family gathering together again and of course we all have families complete and by twelve oclock in the morning We watched fireworks in the sky and then we all eat together. And this month of January I started again to attend my OJT and I also achieved like formatting a computer, pc assembling, and I experienced our motherboard of the system unit were overheat and because it was broken and it was not available so I just replaced another motherboard for it to work again and I’m happy because the motherboard of the system unit was working so we can use it and now that the time of my OJT was near I spent my days only to complete my OJT and I was very glad because the seven months I spent hours on the comp shop I was fully finished my OJT. A. New knowledge, attitudes, and skills acquired The first that I had learned in the Awoor Open Kalate Computer Repair Shop is to be a hard working person and to be a responsible to all things that should I do. I also learned how to fix Xerox Machine and how to use it. It was so easy to Xerox but in my OJT experience it was so hard if there were a lot of papers to be done and I was so glad that I learn how to use it. I also applied at the Comp shop my knowledge in computer when I was high school. Sometimes it was so boring and tedious to have my OJT because I am lone and don’t have friends to talk but the only thing that I did was play some music and watching movies it was my doings when I am bored and tedious it was why don’t stop my OJT and to accomplish my goals in my life and I need to finish my OJT for my family. B. Theories actually seen in practice I realized that if there was an OJT was not so easy, tedious, made me being lazy I felt it when I am doing a lot or you had nothing to do but I made it by pushing myself to did my jobs and to push myself to be a hard working person. I also learned that in all aspects of problems there was a solution. I also push myself not to stop my OJT and not to stop to fix my problems that I encountered. Now, if I have a problems that I can’t solve I pursue to make it and to be successful to my OJT instead of giving up I will make my best to be a successful person. C. Feedback that can be given to the company or institution When I started my OJT my supervisor ask me that what I can do to his computer shop or if I know something about in computers. I said yes to my supervisor I have know something to computers and I said to my supervisor that if there was a thing that I didn’t know was to betray my supervisor and I said to my supervisor that I am fast learner. I also said to my supervisor that I can help more to his computer shop because I am getting better when I am doing something and practice for it and I am good in some jobs like typing some documents and repairing computers. I enjoy my OJT. In some doings I am compatible with my OJT because I had some ideas to help to my OJT and I experienced the others problems so my OJT was not so hard at all. D. Benefits gained The benefits that the trainee learns at the Awoor Open Kalate Computer Repair Shop are as follows: to be discipline at the work and to be responsible and intelligent, must always be on time, and to be patient with the customer should come. I started to my OJT I learned to be responsible to all aspects and to be diligent, hard working and of course to be friendly and patient. I promise to myself that I will not forget what I learned. I will remember it until I am alive and use it to all things that can apply because of you have this attitude you can recognize by others. It will be applicable when I friends or I have my own job and to my fellow workers. In what I learned to my OJT and to my loving parents I will use to all things in my life and I am so proud that I learned. I will do my best to be a successful man to have good and peaceful life. E. Problems encountered The problem that the trainee encountered at the Awoor Open Kalate Computer Shop is the Xerox machine was broken and exactly two man who want to undergo Xerox a whole book, and ten pieces of Bio – data and I do not know how to fix the Xerox machine and I call my supervisor to say that the Xerox machine is broken and my supervisor said wait for me to fix the Xerox machine and I told to the customer who want to undergo Xerox was not available but after a few minutes my supervisor came to his shop to fix it and I’m happy for that.

Computer Science Sample Essay

Computer Science Sample EssayWhen you are searching for a school or college that offers a computer science degree, you may find yourself wondering how you can get your hands on a sample essay for your admission exam. Students often struggle with writing computer essays and this could be a huge stumbling block to getting into the major. Many students are not able to articulate their argument in a clear and concise manner so they tend to stall out when it comes to the essay portion of the admissions process. By obtaining a sample essay for a computer science degree, you will be able to breeze through this section of the application and be well on your way to submitting an impressive essay.A computer science degree requires students to write a lot of different kinds of essays, but that does not mean that they do not need a sample essay to work from. These essays are written as much for the admission exam as they are for other reasons. The college or university wants to see that the stud ent has a sense of order in their essay, that they have a clear and concise argument and that they understand all of the requirements necessary to submit one of these essays.When searching for a school to attend that offers a computer science degree, you may want to look at what is offered there in terms of what the program actually is. While the format may change in some programs, many schools will provide you with a sample essay. It will allow you to see exactly what kind of level they are looking for and you can determine whether or not you can meet that level. When you know what the expectations are, you will be able to take the necessary steps to meet those standards.You will also find that many schools offer a sample essay to complete for your computer science degree. This is so that you can see how to write your essay for the particular college or university that you are applying to. Many of these programs require you to write an essay that is 90% of the length of a typical e ssay. So if you do not know how to write a long essay, you might want to get hold of a sample essay and learn how to format your own essay so that you can submit it with no problem.You can find a sample essay for your admission to the FTSE 100 index when you are doing a computer science degree. FTSE is the Financial Times Index and this index ranks the largest and most prestigious institutions in the UK. The highest ranked universities on this list include Cambridge, Imperial College London, University College London, Imperial College London, Manchester Metropolitan University, and University College London. All of these universities offer computer science degrees and they can provide you with a sample essay for your admission.The essay will cover a specific requirement that is specific to the school. You will need to carefully read the rules and regulations that apply to your particular program so that you know exactly what you will need to do to write your essay. Be sure to obtain the sample essay from an accredited college or university before you apply to the school. The FTSE 100 does not accept essays that do not come from accredited colleges or universities so do not assume that they will accept your essay because it does not come from a specific institution.You will also want to take the time to send your sample essay to the school. This will give them a chance to critique your essay and you can determine if you have addressed their specific requirements. Many times the college or university will send a statement of acceptance to the application.With a sample essay for FTSE you will be able to make sure that you do not miss any requirements or fall behind in your application. This will help you avoid a reputation for being a bad student. If you are applying to more than one college or university for your computer science degree, it will be extremely beneficial to have a sample essay to give them as an example.

Obesity and Surgery essays

Obesity and Surgery essays Obesity affects millions of people every year because of the changing world, which makes things easier for individuals not to exercise. With that knowledge, it is apparent the changing world has also created ways to where people can get the fat removed by surgery, which is a major health risk. Atul Gawande tells the story of Vincent Caselli, who underwent a gastric bypass to lose weight by surgically reducing the size of his stomach, thus making him physically unable to eat and absorb the nutrients from more than an ounce of food at a sitting. The statistics on the gastric-bypass procedure, the last resort of people who cannot shed weight in other ways, confirm the sharp rise of obesity in this country. According to the American Society for Bariatric Surgery, in 1992 surgeons performed 7 6,200 of the procedures. In 2002, the number jumped to 63,100 and one year later to 103,200. Gawande, who assisted on the surgery, calls this "among the strangest operations surgeons perform" in th at it "is intended to control a person's will-to manipulate his innards so that he does not overeat." Those who, like Caselli, are morbidly obese and whose weight profoundly reduces their quality of life are turning to the gastric bypass more frequently. Gawande, a surgical resident and also a staff writer for the New Yorker, uses the story of Caselli to "contemplate the human appetite." As such, he provides a fitting and compelling end to the selections in this chapter on obesity (Picador and Gawande, 2002). From there, it is apparent obesity is a serious matter in American society due to the quick fix changing society. Along with that, obesity is a growing problem that is killing the American people within society. With new technology, people do not have to work as hard, which gets them to physical unmotivated to be active. Furthermore, like McDonalds has set the tone for bigger food portions such as the super sized meal. From there...

Answers for final exam Assignment Example | Topics and Well Written Essays - 1250 words

Answers for final exam - Assignment Example ...........................Discrete Participation in online auction............Discrete Amount spent online .........................Continuous Time ............................................... Continuous (McBurney and White, 2009) b) In addition to the variables above, data were also collected on total sales each month. Using the SPSS output provided below, describe the distribution of ‘Monthly Sales’. Remember to comment on Centre, Shape and Spread. (1 ? marks) Distribution of sales has a mean value of $ 4178.29 per month with a standard deviation of 7011.633. The data is further skewed to the right, and is widely scattered apart. The skewedness value, the plots and the standard deviation explains this (Gravetter and Forzano, 2010). c) Is the distribution of ‘Monthly Sales’ normal? Explain. (1 mark) The distribution is not normal. This is because of the observed deviation of the plats from the straight line as observed in the Normal Q-Q plot. (Hahn and Meeker, 2011) Question 2 (3 marks) An investor wants to compare the performance of three managed funds, so she performs an ANOVA test to compare their returns. The results of this ANOVA test and the post-hoc Tukey test are provided below: ANOVA Return Sum of Squares df Mean Square F Sig. Between Groups 4191.977 2 2095.988 9.627 .000 Within Groups 669510.465 3075 217.727 Total 673702.442 3077 Multiple Comparisons Return Tukey HSD (I) Fund (J) Fund Mean Difference (I-J) Std. Error Sig. 95% Confidence Interval Lower Bound Upper Bound 1.00 2.00 -1.07173 .65147 .227 -2.5993 .4559 3.00 -2.83090* .65147 .000 -4.3585 -1.3033 2.00 1.00 1.07173 .65147 .227 -.4559 2.5993 3.00 -1.75916* .65147 .019 -3.2868 -.2316 3.00 1.00 2.83090* .65147 .000 1.3033 4.3585 2.00 1.75916* .65147 .019 .2316 3.2868 *. The mean difference is significant at the 0.05 level. a) Explain why the investor used an ANOVA test. (1 mark) The investor used an ANOVA test because the test is suitable for comparing more than two means and compares means of each pair of variables to determine the one with the highest mean (Rumsey, 2007). b) Interpret the results of the one-way ANOVA test. (1 mark) The low p-value, 0.00 that is less that 0.05, from the ANOVA test shows that a significant relationship exists among the different funds at 0.05 level of significance (Comrey and Lee, 2006). c) Based on the post-hoc Tukey test, which of the funds had the highest returns? Explain. (1 mark) The mutual fund 3 had the highest returns. This is because its mean is significantly different from, and larger than the means for fund 2 and fund 3 (Hanna and Dempster, 2012). Question 3 (10 marks) A large company wants to compare the performance of two of its franchises. To complete this study, they collected monthly sale revenue data from the Sydney and Newcastle franchises. They believe that the Sydney store is performing better, but want to conduct a statistical test to prove this fact. If Newcastle is seen to be underperfor ming, management intends to increase advertising for this store. A two-sample t-test is conducted and the following output is reported from SPSS: a. Explain why an independent two-sample t-test was used rather than a paired samples t-test. (2 mark) An independent two-sample-t test was used because the two sets of observations were made from different samples, franchises, instead of paired sample test’s two sets of observations, each pair from same participants in a sample (Walkenbach, 2013). b. Write the null and alternate hypotheses (2 marks). HO:

Explain the Legal Framework for the Bank of England's Monetary Policy Essay

Explain the Legal Framework for the Bank of England's Monetary Policy - Essay Example except where clearly quoted and referenced. has been copied from material belonging to any other person e.g. from a book. handout, another student. I am aware that it is a breach of UEL regulations to copy the work of another without clear acknowledgement and that attempting to do so renders me liable to disciplinary proceedings. SECTION B: (to be completed by the tutor marking assignment) Assessment Criteria: Weightings Criteria based Feedback Mark Achieved Logical Sequence and Development 10% Evidence of Background Reading 20% Appropriate Depth of Analysis 30% Critical Evaluation of Issues/Results 25% Referencing Technique 5% Presentation including Language and Grammar 10% TOTAL MARKS 100% Good practice demonstrated: Aspect to consider for improvement: Tutor's Name: Date Received: PROVISIONAL MARK Explain the legal framework for the Bank of England’s Monetary Policy and discuss the effectiveness of central bank independence in times of financial crises. Module Code:FE3011 Mo dule Title: Monetary Economics Student Number:0843375 Table of contents 1. Introduction 3 2. Bank of England – monetary policy 3 2.1 Overview of Bank of England’s monetary policy 3 2.1.1 Monetary policy, elements and effects 3 2.1.2 Monetary policy of Bank of England 4 2.2 Legal framework for the Bank of England’s Monetary Policy 5 2.3 Effectiveness of central bank independence in times of financial crises 7 3. Conclusion 8 References 9 Appendix 10 1. Introduction In most countries, the standardization of the economy is considered as a challenging task, even when the level of national resources, as combined with commercial activities, is characterized as quite satisfactory. The development of an effective monetary policy can help a country to secure its position in the international community; at the same time, a successful monetary policy can help a country to keep the control on its industries and resources, ensuring the availability of capital required for th e completion of local government’s plans. This paper focuses on the examination of the legal framework for the Bank of England’s monetary policy; furthermore, the effectiveness of the Bank’s independence in times of financial crises is discussed referring to the literature and the empirical evidence developed in the specific field. It is proved that, in the UK, the monetary policy is influenced by a series of factors; for this reason, the legal framework for the Bank of England’s monetary policy is not standardized. In its current form, the legal framework for the Bank’s monetary policy is quite flexible, incorporating rules for regulating all aspects, as possible, of the national economy. In the future, particular emphasis should be given on the valuable role of Bank of England in securing payments across the country, regulating the monetary policy of the country and controlling the activities of bank institutions (HM Treasury 2008, p.86). 2. Bank of England – monetary policy 2.1 Overview of Bank of England’s monetary policy 2.1.1 Monetary policy, elements and effects In order to understand the characteristics and the effectiveness of Bank of England’s monetary policy, it would be necessary to refer primarily to the elements of monetary policy, as part of a country’s economic life. According to Ruddock (2008), the monetary policy of each country is set and monitored by the country’

Analyzing Employee Management Assignment Example | Topics and Well Written Essays - 500 words

Analyzing Employee Management - Assignment Example The aim of the review is to identify and analyze different practices and policies that are associated with employees and employers. The article begins by identifying the need to monitor employees since employers are liable for their mistakes at work. Defamation, sexual harassment and racial discrimination are the three cases identified and analyzed. In both cases verdict, the essence of proper monitoring within the company became a key factor. Employers were charged and fined due to improper use of monitoring and in some cases won the cases due to proper monitoring (DelPo, & Guerin, 2011). According to the article under federal law, a right to privacy exists (US Constitution) in case of an actual or subjective expectation of privacy as deem reasonable by society. The federal statutes have monitoring policies that safeguard privacy of everybody and the companies’ rights. The practices of wiretapping such as internet monitoring and telephone and cellular phone surveillance assis t the employer to deal with infringers according without making a blanket judgment. Employee Polygram Protection Act is another policy that the article discusses in regard to privacy issues. It is essential that employee subjected to this procedure must prior be informed the necessary requirements and reason for conduct. Fair and credit reporting laws safeguard the employers from fraudulent cases, though employees must be instructed of limitations. The article analyzes the state laws that govern employees and guide employers on the expected and tolerated conducts (Muir, 2003). These are referred to as the common laws and include common law right to privacy, common law wrongful termination and common law on the employer’s non-fraternization policies. There are four theories associated to common law right to privacy. They include intrusion upon seclusion of another, public disclosure of private life information, appropriation of other’s likenesses or name and publicity t hat