Faculty Empowerment the Changing University Environment...

â€Å"Faculty Empowerment the Changing University Environment† In our case â€Å"Faculty Empowerment the Changing University Environment† we came across two separate subjects both of which our group can relate to and both of which correlate to each other. In the beginning we reviewed the topic of nowadays Universities and what has changed recently and how such change might have affected administrational structure on empowering faculty. We used the data provided to us in the case study to determine the following facts. First, Universities Environment has drastically changed during the last 6 years. Because of the rapidly changing workplace environment, downfall of the economy and incredible technological improvements all caused a lot of adults†¦show more content†¦Parents, the general public and the media seem to applaud these efforts (Wiggins). The scores on these standardized tests, such as the ITBS, are published in many local and statewide newspapers. Universities are evaluated and compared to each other using predominatel y this test data. If this teaching to the test is beneficial for raising university’s test scores, then maybe we should change the whole university environment to become more aligned with those elements that would foster improvement on these tests. If it raises test scores it must be sound educational practice. Can this be accurate? Empowerment Through Online Education In a 2007 report published by the Sloan Consortium, most universities stated that the main reasons they continued to expand their online education programs were because such programs improved student access to education. For example, when universities offer courses online, they can work around limited classroom space, instructor shortages, and conflicting course schedules to offer more students more classes. Similarly, in taking an online course that allows them to complete assignments at their own pace, students can work around their busy course and work schedules, as well as tailor their coursework to their own personal learning styles. Students increasingly enroll in online courses over their summer break while they live with their parents and work summer jobs. Online Educations Historical Counterpart Online educationsShow MoreRelatedIn Loco Parentis Was The Idea That A School Of Higher Education1363 Words   |  6 Pageswas the idea that a school of higher education has a legal responsibility to act as a parent for a student. As we trace back to history we can see how this concept was influential in developing the character of the students because it permitted universities the autonomy to do so. It imposed restrictive social rules on their students, restricting speech, socialization, and movements that hindered student’s character building. However, demographic characteristics and political movements have contributedRead MoreA Study on Job Satisfaction of Faculty Members1622 Words   |  7 PagesA STUDY ON JOB SATISFACTION OF FACULTY MEMBERS IN EDUCATION SECTOR K.R.Sowmya1, Dr.N.Panchanatham2 Abstract Job satisfaction is in regard to ones feelings or state-of-mind regarding the nature of their work. Job satisfaction can be influenced by a variety of factors, eg, the quality of ones relationship with their supervisor, the quality of the physical environment in which they work, degree of fulfillment in their work, etc. Education sector is the most dynamic and developing sector.TheRead MoreRecruitment And Retention Of Nurses1404 Words   |  6 Pagesturnover rate (Galletta, Portoghese, Battestelli Leiter (2012). According to Welding (2011), the University Health System Consortium (UHC) and the American Association of Colleges of Nursing (AACN) indicate a 95.6% retention for residents involved in their Nurse Residency Program. Research shows â€Å"nurse residents described feelings of overall job satisfaction, confidence in practice, and empowerment through new knowledge established in the nursing residency program† (Welding, 2011, p. 38). ImplicationsRead MoreInformation Literacy and Leadership Essay1923 Words   |  8 Pagesthe opinions of others without much thought. When opinions are biased, negative, or inadequate for the needs at hand, many people are left helpless to improve the situation confronting them. Information literacy, therefore, is a means of personal empowerment. It allows people to verify or refute expert opinion and to become independent seekers of truth. It provides them with the ability to build their own arguments and to experience the excitement of the search for knowledge. It not only prepares themRead MoreApplying the Four Frames and Eight Stages to Create a Plan to Manage Organizational Change3676 Words   |  15 Pagesthat will help to rescue its current academic downfalls, learning gaps, and deficiencies. Applications regarding the structuring of a team are incorporated, as well as the developmental plan to initiate and foster communication. The plan for empowerment is also a key, as it directly relates to the attitudinal residue of the employees. An illustration of symbols that are utilized will be discussed as it defines the meaning and logic that constructs the change efforts. Information gathered forRead MoreSchool Culture Analysis Essay1655 Words   |  7 PagesRunning head: SCHOOL CULTURE ANALYSIS School Culture Analysis Lisa Mack Grand Canyon University EDA 529 Dr. Tony Elmer July 21, 2009 School Culture Analysis The term school culture describes the environment that affects the behavior of the entire school community. School culture can be defined as the quality and character of school life. It is based on patterns of school life experiences and reflects norms, goals, values, relationships, teaching, leadership practicesRead MoreThe American Higher Education System2035 Words   |  9 Pagesyears 2009 and 2010, in both public and private institutions of higher education are forcing deep budget cuts, including the deferral of planned capital projects and maintenance, positions being left vacant, and the nonrenewal of junior and adjunct faculty; and even extending, in many institutions, to layoffs, mandatory furloughs, salary reductions, and cuts of entire programs (Altbach et al., 2011, p. 318). The decreased state funding and budget cuts come at a difficult time, as higher education institutionsRead MoreGetting An Education For The American Dream1843 Words   |  8 Pagesracism, homophobia, prejudice, and inequality – all pointing to the notion that educational empowerment may just be a myth. Although some still consider education as a means of attaining â€Å"The American Dream,† educational empowerment is merely a cultural myth because it does not provide equal opportunity for all races and classes, and puts too much focus on making money rather than a thought-provoking environment for students. Labeling something as a cultural myth implies that it is a belief developedRead MoreDr. R. Cummings2304 Words   |  10 PagesDr. Thomas G. Cummings received his BS and MBA degrees from Cornell University, and his PhD in business administration from the University of California at Los Angeles. He was previously on the faculty at Case-Western Reserve University. He has authored more than 20 books, written over 60 scholarly articles, and given numerous invited papers at national and international conferences. He was formerly Editor-in-Chief of the Journal of Relevant stakeholders Inquiry, Chairman of the Organizational DevelopmentRead MoreCritical Challenges Facing African American Men3250 Words   |  13 Pagesto why this is a problem] Doug A severe underrepresentation of Black male doctoral students and earned doctorates exist in the United States (Harper, 2010). Lack of financial resources, poor academic preparation, absence of relationships with faculty, and low motivation contribute to the disparity of black males with conferred doctoral degrees (Proctor, 2009). The percentage of doctoral degrees awarded to African Americans has steadily increased in the past 30 years. However, African Americans

Aldous Huxley s Brave New World - 1720 Words

In Aldous Huxley’s Brave New World, Huxley often repeats how important technology is in society. By using several references to technology, such as high-tech laboratory equipment that create new embryos and different types of helicopters for transportation, throughout the book, he proposes a radical idea that government can take advantage of people and their lifestyles by using technology. Huxley also uses the idea of a utopia in society, which is a place where all things are considered to be perfect or have no flaws. In this Utopia, the government uses a drug called soma to control the World State’s population. These ideas and consumables are considered to be the controlling aspects of society. In the novel, Brave New World society is considered to be a utopia due to the medicines and technology that has been created such as the drug soma. Because of the utopian society, people lack creativity and personality because of what the government has done. In the novel, Huxle y depicts order controlled by an all-powerful state trying to preserve its own stability and power. Just to give you a general idea, he would explain to them. For of course some sort of general idea they must have, if they were to do their work intelligently – though as little of one, if they were to be good and happy members of society, as possible. For particulars, as every one knows, make for virtue and happiness; generalities are intellectually necessary evils. Not philosophers but fret-sawyers andShow MoreRelatedAldous Huxley s Brave New World1334 Words   |  6 Pageso read Aldous Huxley’s Brave New World is to understand the fear for the future during the 1930’s. Widely considered ahead of its time, Brave New World is one of the most influential novels regarding the destructive outcome of genetic and public manipulation through regime control. The story contrasts two worlds: the traditional world where the â€Å"savages† reside and the new Worl d State: a negative utopia where unrestrained sexual freedom, reproductive technology, and mind numbing drugs run rampantRead MoreAldous Huxley s Brave New World1329 Words   |  6 PagesIn Aldous Huxley, Brave New World, life is peaceful without any rebellion from its citizens. The society is called ‘The World State’, where scientist can finally produce eggs, without women getting pregnant. As a result, there is no such thing as a â€Å"family†, and the word ‘Mother’ and ‘Father’ are consider as obscene. â€Å". . . the loathsomeness and moral obliquity of childbearing –– merely gross, a scatological rather than a pornographic impropriety† (Huxley 159). They use the Bokanovsky Process, inRead MoreAldous Huxley s Brave New World1080 Words   |  5 PagesComplete Control† Today, one s perceptions of happiness are more often than not associated with material achievements, advancements, or perhaps, love. In Brave New World, however, happiness is based upon the pursuit of stability and emotional equilibrium Aldous Huxley s dystopian novel, Brave New World serves as a warning of the ominous. Set in London, the totalitarian regime instills the motto of stability, community, [and] identity(Huxley.1.1) in its citizens. Huxley s dystopia attempts to findRead MoreAldous Huxley s Brave New World Essay1800 Words   |  8 PagesAccording to Webster’s New World Dictionary, bravery is â€Å"possessing or exhibiting courage or courageous endurance† (Agnes 178). Oftentimes, people are commended for acts of bravery they complete in the heat of a moment or overcoming a life-changing obstacle. Rarely one is commended for simply living a brave life, facing challenges they do not even understand. The characters in the Aldous Huxley’s Brave New Wor ld live a peculiar lifestyle demonstrating bravery for just breathing. Although Huxley’sRead MoreAldous Huxley s A Brave New World1649 Words   |  7 PagesAldous Huxley has presented us a compelling story in the 20th-century called a Brave New World. One of the most notable dystopian novels, it calls for a reader to conceptualize a world, in which society and science are synonymous with each other, history had faded far into obscurity, and Henry Ford, the creator of the assembly line, becomes a deity to many uniformed individuals. The book was about how humans are no longer created by the conventional means of mating, rather artificially, throughRead MoreAldous Huxley s Brave New World1904 Words   |  8 PagesAldous Huxley’s Brave New World, published in 1932, is a masterpiece of science fiction. His imagined, dystopian state creatively employs facts and theories of science, as well as his very own thinly-veiled commentary on the future of society. His family backg round and social status, in addition to molding Huxley himself and his perspective, no doubt made impact on his writing and contributed to the scientific accuracy of his presentation. However, Huxley certainly qualifies as a social commenterRead MoreAldous Huxley s Brave New World1564 Words   |  7 Pages Envision a world where everybody is happy, there is no sorrow or suffering, no fear of death, no misery, everything is pleasant, and the government doles out happy pills, known as Soma. Aldous Huxley’s novel â€Å"Brave New World† describes this world. Is everyone truly happy, and what do the citizens sacrifice in exchange for living in this utopia? Huxley helped shape the modern mind with provocative theories about humankind s destiny, and he was concerned with the possible social and moral implicationsRead MoreAldous Huxley s Brave New World1038 Words   |  5 PagesAldous Huxley, the author of Brave New World, portrays a World State that has made consumption one of its centerpieces. Economic stability is essential to the effectiveness of the World State. They are brainwashed by advertisements and organizations that make them feel as though they are free. The people within the World State continuously consume because of the conditioning they obtained when they were younger. They are educated that when an object or good is in need of fixing, they must get ridRead MoreAldous Huxley s Brave New World2645 Words   |  11 PagesTimes: Aldous Huxley was born into a family of renowned scientists in 1894. He lost his mother at age 14, became virtually blind due to illness three years later, and lost his older brother to suicide at age 21. Despite these setbacks, he went back to school after dropping out of Eton and earned a degree in English literature from Oxford. Because of his blindness, he was not able to do the scientific research he had previously wanted to do, and turned to writing. He wrote Brave New World in fourRead MoreAldous Huxley s Brave New World2041 Words   |  9 Pagesâ€Å"I wanted to change the world. But I have found that the only thing one can be sure of changing is oneself†- Aldous Huxley. Throughout Aldous Huxley’s life he encountered malicious experiences that changed him drastically. He found out that he was a great writer through the dreadful and exceptional events in his life. In the novel Brave New World, Huxley uses conflict and characterization to illustrate how the adv ancement of technology can potentially cause human destruction and how individual motivation

The Heroes Of Beowulf And Malcolm X - 991 Words

Not every hero wears a cape or tights, nor do they all have superpowers. Being a hero does not mean you have to be a crime fighter or a warrior. Heroism comes with the good that you do, and helping people and wanting better for people are makes heroes. Heroism can range from big to small; a hero can makes someone’s day, or he or she can even make history. Heroes can be local or worldwide. A hero could even be someone an individual looks up to as a role model. Heroes do not have to be well known by everyone to be a hero. They could just be helping their community. Not every hero is the same, and people may not agree on who is and who is not a hero. Heroes are what an individual makes them to be. Although Beowulf and Malcolm X are people of different time eras, both men demonstrate a variety of characteristics of a hero. Starting as a warrior and later becoming the king, Beowulf left behind a legacy. Beowulf portrays many traits of a hero. According to the Beowulf History Channel documentary, implies that he was a â€Å"superhuman† (History Doc.). Beowulf was known as â€Å"the strongest of the Geats† (Beowulf 195). According to the epic Beowulf, Beowulf was â€Å"stronger than anyone anywhere†(194). He was like no other anywhere else. Beowulf was not scared of battle, and felt like the best way to die was in battle.Beowulf was fearless. He voluntarily put himself in danger in order to protect his people and friends. Beowulf sailed across the sea to Denmark â€Å"in friendship† to

Gay Rights - 1419 Words

Feeling the warmth when they hold a loved one is something for which people should not be judged. It should not matter what sex their partner is because, put simply, they are in love. The gay rights movement is a continuing procession that fights for their rights. The gay rights movement actually begins on November 11, 1950 when gay rights activist Harry Hay founds America’s first national gay rights organization by the name of Mattachine Society, according to the â€Å"Timeline: Milestones in the American Gay Rights Movement†. Their leaders or people who advanced their purpose are Harvey Milk, Harry Hay, LGBT, or lesbian, gay, bisexual, and transsexual groups. This purpose is to stop intolerance and, ultimately, gain the right of and†¦show more content†¦This sad event shows but one example of a hate crime against a person of gay orientation. Matthew Shepard then goes on to become one reason to cause the HCPA, Hate Crimes Prevention Act, to be signed into l aw on October 28, 2009. These groups say that â€Å"the struggles of the peoples of the world are our fight as well; their victories are our victories and our victories are theirs. Our freedom will come only with their freedom† (â€Å"What We Want, What We Believe† 600). They are trying to abolish hate against all which is why they did not stop at creating a hate crimes prevention act against gays law, but a prevention to protect everyone. It is to prevent anyone having to suffer what the people of the LGBT community constantly face every day. To take these things lightly is one thing; however, to completely act as though they do not exist in plain sight is unlawful or even disgraceful.As a nation, everyone should band together, every race, every group, and every individual, to fight against this true act of treason. The intended audience of the manifesto, â€Å"What We Want, What We Believe† is everyone to say their goal is for only them is to say that they wil l settle for only their rights. For they fight for all, no matter for whom their true goal, is equality for all. â€Å"It’s up to CDC [Centers for Disease Control] to put the pressure onShow MoreRelatedGay Rights Essay921 Words   |  4 PagesFighting for Gay Rights In our society we should protect LGBT rights it’s unfair that we treat them differently. We should make more changes about how we treat them they should be allowed to go as they please or shop at places they want to shop at. Without being told they can not go in a certain restaurant because the way they are. People should not discriminate the reason being is you never know what that person been through or why they are like that. And it’s hard for a person toRead MoreGay Rights, Gay, Lesbian, And Society1202 Words   |  5 PagesOver the past decades, being gay was something no one talked about. It was a subject that was very taboo and society didn’t accept. People saw it as a stage one goes through and something unnatural. Thanks to the media, more and more celebrities have come out of the closet over the years. Soon people became accepting of the gay community and their life style. Being openly gay, lesbian, transgender, or bisexual in the workforce can lead to discrimination. Gay mirages are also frowned upon by societyRead MoreThe Rights Of Gay And Lesbian Couples Essay1536 Words   |  7 Pagesthe majority believe that they deserve the rights they are granted with the aid of the government. An upstanding citizen who pays their taxes, serves their network and abides by means of the regulation must be afforded the rights of an American. however, no longer all residents are afforded same rights. gay and lesbians are continuously denied rights which are typically taken for granted through the common American. particularly, gay and lesbians couples are denied the proper to marry even supposingRead MoreGay Community Rights and Respinsiblities Essay1392 Words   |  6 PagesThe circumstances containing homosexuality have formed a varying timeline. The LGBT community’s rights and responsibilities must match those of society in general. Throughout the last 50 years the rights deserved by those who are lesbian, gay, bisexual, and transgender has been debated. Debates have included topics such as same sex marriage, housing security, and job security. The LGBT community needs laws protecting it from hate crimes. There have been multiple incidents LGBT individuals have beenRead MoreEssay on Effects of Gay Rights in America943 Words   |  4 PagesMatthew Shepard. He was given a life sentence. States must inflict a harsher punishment for people who commit gay violence crimes because over the years hate crimes based on sexual orientation have become the third highest category reported. Many people claim that the violence happenes not because of sexual orientation, but because it is just an act to be committed. According to the Human Rights Campaign, crimes against homosexual people resulted in four deaths in 1998 alone. James Ward, a thirty-sevenRead MoreThe Struggle Of Gay Rights1893 Words   |  8 Pages The struggle between Edward and Bella in the â€Å"Twilight Saga† can be closely related to the struggle of gay right’s in today’s society. During the whole entire saga Edward and Bella have to fight to keep their relationship with one another. This is similar to what the LGBT community has been doing for many years now. In the â€Å"Twilight Saga† some of the characters do not believe that Edward and Bella should be with one another because he is a vampire and she is a human. Similarly in today’s societyRead MoreThe Rights Of Gays And The Homosexual Agenda1743 Words   |  7 Pagesdelivered a speech that was to have a drasti c effect on the human rights of gays and lesbians in Uganda. The speech, given at an anti-gay conference titled â€Å"Exposing the Truth behind Homosexuality and the Homosexual Agenda†, linked homosexuality with child molestation and the destruction of African families and laid the foundation for what was to become a virulently homophobic movement in Uganda. This religious crusade against the rights of gays and lesbians culminated in an oppressive law, passed in 2014Read MoreGay Rights And The Lgbt Community1542 Words   |  7 Pagesmass shooting in U.S. history occurred not to far from UCF. Patrons of Pulse nightclub, a gay nightclub in Orlando where massacred by Omar Mateen, Mateen took the lives of forty-nine individuals all because of their presence in a gay establishment. This tragic incident wasn’t the first attack on the LGBT community, but it’s massive fatalities put Congress under even more pressure to reform gun laws, gay rights, and suspected terrori st legislation. As a political Science major, I take a special interestRead MoreThe Fight for Gay Rights Essay1515 Words   |  7 PagesThe Fight for Gay Rights Restrictions have been put in place on homosexuals’ basic human rights because of individuals’ opinions and lack of tolerance. America is a country where all people should have the same rights, regardless of sexual preference. Gay marriage is illegal in more than thirty states even yet today (ProQuest). Homosexual people have been struggling with their rights for over a hundred years now, but the issue still hasn’t been resolved. Gay marriage and rights didn’t become aRead MoreThe Fight For Gay Rights Movement1155 Words   |  5 PagesToday, the fight for homosexual right is at the forefront of society, which yields a greater thrust towards full equality to heterosexuals with every passing day. This campaign for equality is known as the Modern Gay Rights Movement. The modern struggle for gay rights started as early as The Civil Rights Movement in 1954, and still continues today (Britannica). The Civil Rights Movement, from 1954-1968, sparked oppressed people to fight for their rights. In this period, shockwaves from blacks’ gaining

Dentistry and Senior Citizen Free Essays

As a student under the curriculum of health education, to bring about our service is now more than treating the patient illness but improving the patient whole being. This is what being taught to us in the lectures under the subject community dentistry. Recently, I have the opportunity to apply this knowledge and get hands on knowledge what health, community and dentistry are all about. We will write a custom essay sample on Dentistry and Senior Citizen or any similar topic only for you Order Now What other best method than to dive into the community itself. Under the supervision and guidance by Professor Dr Noorliza, my friends and I visited a house of old folks or senior citizen 20 minutes away from the college. Such projects or activities like this are no longer a stranger to me as I did this frequently during my years of studying for my International Bachelorette diploma and for each project a similar report like this was also required. Therefore, the planning of our events would come as easily as I had experience such conduct before. However, this time around, the approach and set of mentality was more toward a dentist point of view and as a person who is to educate the community. The target group was senior citizen and the aim is to promote dental hygiene. However, the targeted group consists of people who are already wear out by time. The gap between our generations is pretty wide and there are almost zero to none topic of interest to be discussed. Nevertheless, such barrier is to be overcome and I tried as hard as I can to keep the conversation going and even slip in advices regarding importance of maintaining and monitoring the oral health. There were other obstacles also, with the old age, their senses started to deteriorate. The slurry speeches and their hearing also were not as well as they were in youth. What amazes me is how each person still put up a smile trying their best to enjoy our company. Though there were awkward silences now and then, we all manage to share couple of laughter here and there. I had the opportunity to talk to Mr Bulam who was a teacher and is already 80 years old. However, compare to the other inhabitant of the old folk home, he still maintain his intellect to a certain degree. His secret is reading and I am sure to apply throughout my life. Most of our conversation involves me as the listener and it teaches me to be patient. However language or slang that people are conversing in, if we make an effort to listen, the meaning is sure to come across. Besides that, I also manage to interact with the caretaker. Looking at the condition of the residents and the house itself shows that these people did a really good job in taking care of them. Even more so, it amazes me as most of them do it from the goodwill of their heart. To be expose to this humble people really make me more grounded. This kind of humanity experience is not the kind of thing that can be taught, it has to be experienced by oneself. To bring joy to their daily mundane life, waiting for time to pass by, we perform some songs. Looking how their face light up like a kid in a clown show, gives my heart a wrench and I somehow realize that they must have been really lonely to be away from their family, friends and home. Therefore, I was glad that our little visit breaks their daily routine and provided them with the company they longed. We even presented each of them with a Chinese New Year card and oranges. I hope that this little souvenir reminded them of us and shows the effort we put in to accompany them. The time given was short and at the end of the visit I still wonder whether I had done the duty required by me as a dental student or better yet just as another compassion human being. The trip has opened my eyes to the various communities present and how each of them requires equal amount of attention by health practitioners. I believe that I still need to improve my communication skill and adopt a more compassionate approach to the people around me. Last but not least, I was really glad that the trip was done with my friends as it teaches me to also learn how to cooperate with each other and work together. I long discovered that certain things are not meant to be done alone and this trip reinforces its importance. Finally, in the near future I hope to achieve greater success and becomes wiser over the accumulated experiences especially this one. How to cite Dentistry and Senior Citizen, Papers

Management and Cost Accounting Corporate Finance

Question: Describe about the Management and Cost Accounting for Corporate Finance? Answer: Calculation of Cash Budget Uniform Ltd. Cash Budget For the Period October to February Particulars October November December January February Beginning Cash Balance 80,000 -12,000 -504,000 -436,000 -368,000 Cash Collections : Cash Sales 400,000 560,000 560,000 560,000 Total Cash Inflow 480,000 -12,000 56,000 124,000 192,000 Cash Payments : Raw Materials 112,000 112,000 112,000 112,000 112,000 Others Production Cost 280,000 280,000 280,000 280,000 280,000 Fixed Cost 100,000 100,000 100,000 100,000 100,000 Total Cash Payments 492,000 492,000 492,000 492,000 492,000 Ending Cash Balance -12,000 -504,000 -436,000 -368,000 -300,000 Budgeting Budgeting is the process for planning for future expenses and revenue (Bhimani, 2012). All the items of expenses and revenues are forecasted in budgeting process. Budget is prepared for future period. When the actual time comes, the budgeted figure of all costs and incomes are compared with the actual budgeted figure. The difference between the budgeted and actual figure is called Variance. The objective of budgeting is to control and track the expenses with the available funds (Drury, 2012). It ensures that the costs should not exceed than the available resources. There are mainly two kind of Corporate Budget: Operating Budget and Capital Budget. Capital Budget is done to forecast the expenses for capital expenditures (Epstein and Lee, 2009). The assets are acquired in capital budgeting for long-term utilization and these are highly expensive (Fields, 2011). Depreciation is applied on such kind of assets. Operating Budget Capital Budget Operating budget is done to forecast the operating expenses related with the business operation (Horngren, 2011). Operating expenses of business organization is generally not changed over the period. If there is any changes happened in operation due to reduction in sales or any other obstacles. Budget includes three basic elements which are described below: Sales Revenue Sales revenue is most vital elements in a budget. The futures sales should be estimated suitably as much as possible because all others figures are made on the basis of sales revenue (Wilks and Burke, 2008). It is required to check or track the past sales history for estimating the future sales figures. After determination of future target sales, it can be possible to calculate the required necessary expenses related with the sales figures. Total Cost Total cost involves two aspects of cost such as fixed cost and variable cost. The costs which does not vary with sales, is called fixed cost. Fixed costs become fixed whatever sales turnover increases or reduces such as factory rent. The costs which vary with the changing level of sales volume. At the time of estimation of variable cost, it is required to consider the inflation and market forces (Young, 2012). Profit Profit is the amount earned deducting the total costs incurred from the sales revenue. The amount of profit should be that much which can make a sufficient from the business operation. Cash Budget Cash budget is also a part of operating budget. Cash budget is prepared to plan and control the short-term spending (Seal, Garrison and Noreen, 2012). Cash budget is mainly done on monthly basis. But it can also be prepared on weekly, quarterly and annual basis. Cash budget includes both cash inflows and cash flows. In cash budget, the possible expenses and possible incoming of cash flows are estimated (Seal, Garrison and Noreen, 2009). Cash budget shows how the level of cash in hand changed with the spending. Budgeting Process Budget is developed and implemented by the organization on periodic basis at certain intervals (Shim and Siegel, 2009). According to the norm of private industry, it is required to produce a plan in each fiscal year. Budget is also prepared by some government organization. Budgeting process is the process of planning and decision between the time of issuance a budget and the next budget (Weetman, 2010). The steps of budgeting process followed by the Uniform Ltd are as follows: The company asses the actual and estimated figures of the budget of previous year for developing the next budget. The company should focus and identify the needs and objectives for the future period. Certain things are needed to identify and evaluate by the organization such forecasts of revenue, current trends and risk associated. Current trends are the changes in business operation such as spending, staffing level and business volume. It should ensure that the entire budget plan is to be developed in consistent format. It is to be ensured that the procedures and techniques would be implemented in the plan and actual expenses and cash inflows are to be monitored. Before developing the plan, the budget proposals are approved by the responsible person for reviewing. The company should follow the local rules and policies to develop the budget proposals and the full package of budget proposal should cover the organizational objectives. Advantages of Budget for the Uniform Ltd Planning orientation Budget is prepared from the short-term view or daily-to-daily business operation. But it also tries to emphasize on the long-term thinking. So, the main objective of the budget is to plan for future. The objective of the budgeting still work though the management of the organization fails to achieve the goal according to the outline of the budget because it focuses at least on the competitive and financial position of the organization and on the improvement. Assumption Review The process of budgeting helps to identify the objective of business and also to assume the key things regarding the business environment. It these issues are re-evaluated time-to-time, the assumptions will also alter. Performance Evaluation The performance of the worker can evaluated through budget. The company set the goals for a budgeting period and can also promise to pay the bonuses and incentives according to their performance. After comparing the budget and actual report, it can be appraised the performance regarding the progressing to meet their goals. Cash Allocation If there is limited cash available for the investment in fixed and working capital, the procedure of budgeting is very much important to determine the most worthy assets which are required to invest in business operation. Bottleneck Analysis Budgeting process also creates focus on the bottleneck whether to increase the capacity or to shift work. PART B Amount 000 Calculation of Payback Option A Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Net Cash Flow -1320 990 660 495 330 330 Cumulative Cash Flow -1320 -330 330 825 1155 1485 Payback Period (year) 1.5 Option B Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Net Cash Flow -1650 578 660 825 1073 1155 Cumulative Cash Flow -1650 -1072 -412 413 1486 2641 Payback Period (year) 2.5 According to the payback period, Victorplc should select Option A because it has lower payback period i.e. 1.5 years. Calculation of ARR Option A Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Initial Investment -1320 Cash In Flow 726 396 231 66 66 Average Accounting Income 297 ARR 23% Option B Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Initial Investment -1650 Cash In Flow 248 330 495 743 825 Average Accounting Income 528.2 ARR 32% Option B has highest ARR i.e. 32%. So, it can give more annual income. Therefore, the company should select Option B. Calculation of NPV Option A Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Cash Outflow -1320 Cash Inflow 990 660 495 330 330 Discount Rate 15% 0.8695 0.7561 0.6575 0.5717 0.4972 Present Value 860.87 499.05 325.47 188.68 164.07 Total Present Value 2038.14 Net Present Value 718.14 Option B Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Cash Outflow -1650 Cash Inflow 578 660 825 1073 1155 Discount Rate 15% 0.8696 0.7561 0.6575 0.5717 0.4972 Present Value 502.61 499.05 542.45 613.49 574.24 Total Present Value 2731.84 Net Present Value 1081.84 Option B has NPV more than the Option a i.e. 1081840. So, option B should be selected. Calculation of IRR Option A Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Net Cash Flow -1320 990 660 495 330 330 IRR 43% Option B Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Net Cash Flow -1650 578 660 825 1073 1155 IRR 37% The IRR of Option A is more than the Option B i.e. 43%. Therefore, the company should select Option B. Recommendation according to the various appraisal method Playback Period Payback period is calculated to find out the span of time needed to recover the cost of investment (Daly and Barkakati, 2010). According to that the decision is taken whether to undertake the project or not. Longer the payback period is not suitable for investment. When two or more projects are considered in capital budgeting, the project having shortest payback period is accepted because it can recover the initial investment of project quickly Strengths According to Payback period approach, all the cash flows are forecasted from the project which it will earn in future. The period of recovering the cost of project is calculated. This method is usually applied by the business to set a limit of time within which the cost should be recovered. The one of the important advantage of Payback period is that it is simple to calculate. Under this method, it is not required like other methods of capital budgeting to convert all the expected cash flows into present value adjusting the discounting factor. The calculation is straightforward. All the expected cash flows are added and then the initial cost of the project is subtracted from that. The payback period method is associated with the short time prospect. This approach implies that the project will generate cash shortly and the initial cost will recovered within the shortest time. So, the risk is lower. Weaknesses Payback period method does not consider time value of money. Discounting factor is not applied to discount the expected cash inflows. But, in real economy, the value money is affected by the time. The cash flows are expected to earn but the value is expected for future may be less in present time. Also, the inflation is not adjusted in this approach. But, the inflation has greater impact on economy. The risk of recovering cost is minimized by this method. The risk is less for short-term oriented project. But, the risk is more for long-term oriented project. The organization may earn more return from a high risky project. According to Payback period method, the project having short payback period is better for the investment. The organization can earn any other benefits after the end of payback period which is ignored by this method. So, it does not measure profitability. If the organization a short time limit, it may miss the future benefits of the project. Accounting Rate of Return ARR determines the annual income that can be earned from the project (Marlowe et al., 2009). For the calculation of ARR, average accounting income is divided by the average investment of the project. If ARR is same to or more than the required rate of return, the project is selected. In the situation of mutually exclusive, the project with highest ARR is selected. Advantages ARR is also simple to calculate like payback period method. ARR considers the profitability factor. Disadvantages Likewise Payback period, it also does not consider time value of money. The calculation of ARR can be done in various ways. Consistency is the problem of ARR. In ARR method, accounting is used except the cash flow. If the maintenance costs of a project are high, it is not perfect for the investment because cash inflows influence the viability. NPV Net Present Value is the current value of future cash flows expected from an investment option including residual value, if any, less the initial outlay of the project (Peterson and Fabozzi, 2002). In capital budgeting, the profitability of an investment option is measured by the NPV. It is one of the most reliable methods because time value of money is adjusted by using discounted cash inflows. To calculate the NPV, first the expected cash inflows are converted into present value with discounting factor. The net cash flows may be equal or may different. If they are equal, annuity formula is used to calculate the present value. In case of different cash flows, all the cash inflows are converted in present value individually. Strengths The strength of the Net Present Value is NPV always gives importance to the value of money in respect to time. NPV always calculate the cash inflow of the present value. In Net Present Value, it calculates both the cash flow to find out whether to invest in the project or not. The Net Present Value always gives high priority to the profitability (Pike and Neale, 2009). If the financial analyst calculate and found that the project return is less, the financial analyst will not allow investing in that project. It also gives high priority to the risk factor of the project. Limitation The cash flows for the future are estimated and it may different from the actual figures (Wyatt, 2012). It is the main drawback of NPV. This is due to the assumption of discounting rate. The use of Net Present Value is very difficult. In the Net Present Value, it is very difficult to find the accurate discount rate. The Net Present Value sometimes does not give the correct calculation, when the life of the project is unequal. IRR It is known that IRR can be employed if the company knows the investment cost and annual cash flows. Therefore, the company can determine the accurate rate of earnings that can deliver the expected return at some point of time that is five years. The company, Victorplc by applying IRR can disclose the high rate of return that can be generated from the project. Apart from that, the company need to study the market condition to whether the market feasible for the production of proposed project or not. The market will let know about the cost of raw materials, labour cost, numbers of competitors, etc. Therefore, it will help the company to take effective decision and gain much expected higher benefit from the project. On the other side, in order to improve the analysis, the company may need to acknowledge all the cost related to building cost, installation cost, raw material cost, manufacturing cost, etc so that exact return can be evaluated in order to be sure that production of the mac hines can ensure expected return. Moreover, in accounting IRR methods, the company need to determine the value of cash flow after tax so that exact valuation can be identified and ensuring effective return rate (Berk and DeMarzo, 2009). Apart from that, cash flow analysis can be useful in analysing decision. The company may need to estimate the cash outflow that is expenditure and also the cash inflows that is revenue which will help in analysing the net cash that may be available in the project. Therefore, the company can be able to take decision on the available projects. Recommendation It is known that investment decision technique is effective for any business to take identify the project that can ensure high return. Therefore, in order to analyse the decision two capital budgeting techniques has been used that are discounting method which relate with the Net Present Value and the non-discounting method which relate to Pay Back period (Pogue, 2010). The discounted method is effective in determining the stock value and the also provide details that how much company can accumulate cash after meeting all financial obligations. Apart from that, non-discounted method can be too effective in analysing the project decisions and the company can be able to know the expected time period to recover the invested amount. On the other hand, both the capital budgeting methods comprises some strengths and weakness that can be related with the investment decision. Therefore, the company may need to consider the major weakness before making up any decision so that higher benefit ca n be received and increasing cost can be controlled. Thus, the strength and limitation of the payback will be discussed along with the strength and restriction of net present value so that extracted analysis can be improved. In case of independent project or a single conventional project both IRR and NPV provide same indicator about whether to accept or reject the project (Smart, Megginson and Graham, 2010). But the conflict arises for mutually exclusive project. It can be observed that one project higher NPV while the other has a higher IRR. The relative size of the project and the cash flows distribution of project are different. So, the conflict arises. When facing such situation, the higher NPV project should be accepted because NPV is an absolute measure (Watson and Head, 2011). Through NPV, the investment options can be ranked in terms of exact monetary value. 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