Managing Change in the Workplace Essay Example | Topics and Well Written Essays - 2500 words - 1

Managing Change in the Workplace - Essay Example With the advent of time, the companies have realised that they need to bring reforms within their operations so that they can meet their customers’ expectations (Mohammed & Bardai, 2012). It is mandatory requirement for the firms to give leverage to their employees in terms of decision making and experimenting with unique ideas (Zain, Ihsak & Ghani, 2009). Hence, the organisations have to refine their organisational cultures by changing their policies, procedures, rules and related business aspects to thrive in such competitive corporate environment. When a change takes place in the organisation, there is a potential of triggering both optimistic and pessimistic moods and emotions in the employee and they are dependent on a wide range of factors (Smollan & Sayers, 2009). Some of the aspects which are the determinants of such emotions are the expected outcomes’ valence, change processes which are being used, time, speed and frequency of the changes, emotional intelligence, personality of employees and leadership styles (Zajac, 2009). Hence, the organisational culture is the main determinant for generating the emotions during the change process. According to Schein (2010), the organisational culture is described as â€Å"a collection of values, customs, traditions, rules, norms, beliefs, artefacts, assumptions and structures.† By some scholars, the term ‘organisational culture’ is interchangeably used with ‘organisational climate’; but there is a difference between the two terminologies as climate is the perception of an employee about the firm’s culture (Ahmadi et al., 2012). In order to understand the organisational culture, a culture is regarded as ‘the way things are carried out in a setting’ and it basically sculpts the members’ behaviours in both covert and overt means (Valencia, Valle & Jimenez, 2010). In other words, culture is the system of shared meaning held by the group of people and

The Current U.S. Economic Crisis and Potential Fixes Essay

The Current U.S. Economic Crisis and Potential Fixes - Essay Example The outbreak of the recent sub-prime crises came after warning signals of write-downs in the value of mortgages late last year6. House prices in the U.S witnessed an unusual growth between 1997 and 2005. For example, prices increased by approximately 85% during this period. The period 2001 and 2005 witnessed the highest rates of appreciation7. Sub-prime delinquencies and foreclosures were therefore mitigated by house price appreciations during these years. This is so because borrowers facing difficulties to make regular mortgage payments could depend on the appreciation of the value of their property to solve their financial problems by refinancing the mortgage and withdrawing cash from the increased equity in the house thereby sustaining the new mortgage for a while. Borrowers could repay the principal by selling off the property8. Appreciation in property prices therefore significantly improved the performance of sub-prime loans9. However, Ellis (2007) argues that house prices began to decline in 2006, and as at October 2007, prices were down by approximately 3.2% of their peak in the second quarter of 2006. Banks and financial institutions were expected to face an uphill earnings battle early this year. "certainly, we will not be at the levels of profits we saw within the last 12 months". This is a quote by Mark Batty, a financial services analyst at PNC wealth Management Philadelphia, which manages about $77billion of assets10. According Ellis (2007) investment banks and brokerages in the S&P 500 such as Goladman Sach a member of the Fortune 500 and Merrill Lynch a fortune 500 member as well were expecting to experience a 10% decrease in earnings growth in the fourth quarter of 2006. Diversified Financial firms like Citigroup... From the report it is clear that  sub-prime delinquencies and foreclosures were therefore mitigated by house price appreciations during these years. This is so because borrowers facing difficulties to make regular mortgage payments could depend on the appreciation of the value of their property to solve their financial problems by refinancing the mortgage and withdrawing cash from the increased equity in the house thereby sustaining the new mortgage for a while. Borrowers could repay the principal by selling off the property.This essay stresses that  banks are currently facing declining demand for mortgages and home equity loans as well as rising illiquidity and foreclosures among home owners. Bank of America recently announced its intention to get out of the wholesale mortgage market and it is planning to retrench 700 workers following a huge drop in earnings. The demand for asset-backed loans such as commercial paper has witnessed a drop. Financial services firms depended a lot on real estates as a means of backing their loans to debtors. Companies and financial institutions rely on these loans to raise short-term loans and a fall in demand implies that earnings to financial institutions will remain under pressure.  The evidence suggests a significant relationship between â€Å"policy-induced† driving up of U.S silver and Chinese exchange rate appreciation and price deflation. The reversal of the silver flow into Shangai led to a credit crunch in the city.

Synthes And Bioresorbable Internal Fixation Devices

Synthes And Bioresorbable Internal Fixation Devices Synthes roots are based in the non-profit Swiss research group, Association for the study of Internal Fixation or, AO, as it is referred to by the Swiss. The AO was formed by a group of medical professionals including orthopaedic surgeons, metallurgists and other scientists, whose goal was to find other means repairing complex fractures because the methods used around the time, the 1950s, was either left patients suffering months of rehabilitation or with permanent disabilities. AO was built around three basic principles research, education and development, the building blocks for any RD company. With regards to the education aspect of the organisation AO, would frequently offer multi-courses for other orthopaedic surgeons to enlighten them on the new internal fixation techniques. AO began to work with other non-profit organisations, distributing implants to a particular region in the world, with exclusive rights. Synthes was given exclusive rights to North America, and its counterparts Stratec and Mathys were given exclusive rights to Western Europe and Eastern Europe Asia and Africa respectively. Synthes Itself was split into four different companies, Orthopaedics, Spine, Maxillofacial and Canada. For the purpose of this report the main focus will be Synthes Orthopaedic; they are the leader in US orthopaedic trauma implant market with a domestic market share of approximately 50%. The question posed is whether or not Synthes should invest in bioresorbable devices, these are pins or screws or other fixation devices that degrade over time and are absorbed by the body instead of being removed manually. The obvious advantage is to the patients, because they will a smoother recovery process, the major problem that companies face however is finding the formula to maintain the fixation devices for a long enough period of time to ensure full recovery. One of the main reasons why Synthes should get into bioresorbable devices is the fact that they are a RD company and developing new products is their core function, it is one of the major values of the company. There is also the fact that any lapse in the RD of the company may lead to their competitors producing a like product, obtaining a patent and gaining market share and recognition at the expense of Synthes. With companies such as Johnson and Johnson and Boimet competing to achieve the same goal Synthes needs to always be one step ahead. In most cases it is best to be the first mover in an industry, for example when Phizer created the Viagra pill, albeit accidentally, they maintained a patent on the drug for several years and the exclusive production rights allowed them to corner the market. First movers sometimes even create an industry standard, such is the case for Microsoft. Many people still believe that Windows is the best and only operating system, even though there are m any other, much better OSs in the world. Furthermore Johnson Johnson have already crept ahead by producing the second generation of polymers for the industry, even though the success is still not as great as it could be, they still have that expertise. Synthes can use that knowledge to continue the research and possibly produce the third generation of polymers, the game changer, the one that works as well as they industry hopes. A key function that is required is not only research or develop the product, but also to sell it and another reason why Synthes should consider the bioresorbable market is because they have a hugely competent sales force, the case says they are the most experienced in the industry. There are reasons however why Synthes should not go in this market. Key among these is the fact that the market is growing very slowly and is still highly unstable according to the case. The research into stable polymers is going at a snails pace, it can be argued however that slow growth is better than no growth. Take the example of Apple who suffered in the shadows of Microsoft for many years, but one break with the launch of the iPod and the iPhone is helping to push them to the top of the technology market, their persistence paid off. The other main reason can be seen in the case of Johnson and Johnson in the case, although they were one of the first movers into the bioresorbable market, they failure of the product to perform on par with the metallic fixation devices has left them behind Synthes in that respect. 2Æ’Â   The four options discussed by the Synthes managers were to either ignore the bioresorbables completely while focusing on the improvement of their metallic implants or to wait-and-see, where-by they would monitor the progress of the other manufacturers and learn from them as they perform tests. During this stage Synthes will still invest heavily into the production of bioresorbables, that way they can quickly enter the market if they it started become a sounder means of income. The Third method was to develop and market their own line of bioresorbables with the current polymers on the market first developing plates and screws for hand, feet, wrists and ankle fractures and then they plan move to paediatric fractures. The final option is to continue research and development into the 3rd generation of bioresorbables implants, to improve the polymers in an effort to strengthen them and increase their reliability. The industry believes that progress can be made in the development of these polymers but is not quite sure exactly how much progress can actually be made. As with any corporate level decisions there are many advantages and or disadvantages connected. If Synthes chose to completely ignore the bioresorbables market their major advantage is that they will be able to focus more closely on their core competence, the development of metallic implants and improve it faster than their competitors as all of their focus will be on that aspect of the market. Ignoring the market completely is also a means of lowering the risks involved, because this is already their core function and because that sector of the market is far more stable than that of the bioresorbables market they are assured sustainable short term success. However this short term success is not conducive to growth. Synthes will, in effect, be limiting their growth prospects by not even attempting to develop their bioresorbables sector. As risky as it may be they if they were to take part and it became successful the rewards would heavily out-weigh the risks. They are in essence a research and development company and as previously mentioned RD is one of their core values, not even attempting to research the potential of bioresorbables would be undermining the nature of the company itself. Their scientists and researchers may potentially become frustrated if they are not allowed to even touch what to them could be the future of fracture repair. The second choice that Synthes managers discussed was to wait-and-see what the other manufactures are doing, letting the others do the main research and make the major mistakes, while Synthes learns from them and develops their own line of bioresorbables but doesnt market them until market conditions are favourable. In this method Synthes limits their risks significantly by not committing fully to either the development or marketing of their bioresorbables. They will only market if conditions are favourable, if conditions remain as unstable as they currently are then Synthes can simply pull out of the race. However the intend to invest $20 million into the development of their own bioresorbables; this is a very large and substantial investment. If it so happens that the market conditions remain unstable and Synthes decides not to go to market, they will incur a $20 million loss. They also face less risk in the development aspect because they will be leaving most of the work to their competitors; this also limits the amount of developmental failures they would incur if they were undertaking this task on their own. This may seem like the ideal choice for Synthes, however if their competitors do manage to develop more stable polymers and crack the secrets of bioresorbable internal fixation devices, then Synthes runs a patent blockage risk. If for example J J develop a perfectly functioning polymer and get their formula patented then they may have sole production rights for that particular formula for approximately 10 years. In those years they can create such a foothold in the market as the first movers that it could not only hinder the growth of Synthes, but in the worst case scenario, drive them out of the internal fixation device market completely. In the pharmaceutical industry, companies that have first mover advantage tend to retain that advantage for a very long period of time, as their products are more trusted than their competitors. The other drawback for Synthes is that even if a patent does not completely block them out of the industry, then they still run the risk of losing major m arket share to their many competitors. In the scenario where all of the competitors develop at the same pace and launch their products at the same time, the market pie will be divided among more players than is actually necessary thus limiting the potential market share for Synthes. The third option of developing and marketing their own bioresorbables is by far the most risky option that Synthes can take. However they may gain from the first-mover advantage mentioned above, they also have the ability to patent their formulas, block out competition and secure their place in the market for an extended period of time. This option also gives Synthes the opportunity to recuperate their investment into the development of their bioresorbables with the potential returns from marketing with the current polymers. These advantages however depend heavily on the success of the development phase. Therein lays the risk. If Synthes scientists and researchers get it wrong, the results could be disastrous for the company. The investment on development is $20 million, no mention was made of how much it would cost to actually market the product as well, this will push costs even higher, and to have a product fail with those additionally costs could be potentially fatal for Synthes. This is especially true for the paediatric fracture sector that Synthes is hoping to enter, failed products are bad enough, but failed products for children is almost irreversible damage for Synthes. No company wants to be branded as unsafe for children; something like this will lead to permanent scarring for Synthes. The final option of continued research and development into 3rd generation polymers, this once again is highly advantageous to Synthes as it returns them to their core competence of RD. This method will please their researchers and scientists greatly. It is a more balanced option because it is less risky than developing their bioresorbables with the current unstable polymers available and is far more proactive than ignoring the market completely or letting waiting for their competitors to do the research and testing. The costs involved however will be greater than most, if not all of the other methods, but the rewards if they get this one right will be even greater than all the previous methods put together. There are other downsides however, for example even though researchers and other scientists will be pleased to be working on ground breaking new technology, many failures will occur in the interim and this can lead to a large amount of frustration for them, which can be demotivat ing. Synthes still run the risk of their competitors developing better polymers before they do which would leave them in far greater debt than the other methods. The risks and benefits are great no matter what choice Synthes make, but the fact remains that they are essentially an RD company and should stick to their core competence of research development and education. They are industry leaders and need to maintain the high calibre performance they have been demonstrating over the years of their existence. Ignoring a new development, or waiting for their competitors to develop first should not even be an option for such a company. However at the same time jumping into developing and marketing an unstable product in an unstable market is very fool hardy and far too risky to undertake. Continuing to develop a new and safer means of internal fixation with bioresorbables is the best option for Synthes, the creation of the 3rd generation of polymers should be their priority. 3Æ’Â   In the debate of whether or not Synthes will have an impact on the bioresorbables industry, it is the opinion of the author that they can have a huge impact on the progress of the research and development aspect of the industry. Synthes have been a major player in the metallic fixation devices sector, they therefore have the knowledge on how the well the devices need to hold bones together, and also how they need to be shaped or designed to ensure maximum effectiveness. They are currently researching the effectiveness of the second generation polymers and can also begin to develop the third generation of polymers to catapult the industry into the future. The sheer size and capabilities of Synthes allow for them to exert a large amount of influence unto the market. 4Æ’Â   There are many ways for Synthes to introduce resorbables into the market. They are very innovative, with large amount of resources, capable management and therefore are capable of avoiding the valley of death where many innovations end up with poor management. Synthes can fund their own launch and therefore do not need the aid of venture capitalists as such. Great care needs to be used when introducing resorbables; and it is the belief of the author that Synthes should introduce their resorbables in the form of small screws or pins for smaller fractures and breaks first before they commit. This way they can be used on less complex injuries to test just how long they last, smaller fractures need less time to heal. If Synthes finds that their products are functioning properly then and only then, should they consider to manufacture for larger more complex injuries. This is far less risky but at the same time means that Synthes can still be proactive in their research and development. Use for small fractures only, not major complex broken bones. To ensure that they are stable enough and do no degrade in a short period of time. Merge to compete with other two heavyweights.

The Internet And Taxation Essay -- E-commerce ecommerce E-business ebu

The Internet and Taxation A 19-member panel unknown to virtually all Americans is considering how to tax a virtual world that's home to millions: the Internet. The federal Advisory Commission on Electronic Commerce convened for the first time Monday in historic Williamsburg, Virginia, but the setting is the only thing that's serene. On both sides of the debate, fireworks have been flying for months. On one side are consumers and businesses that buy and sell on line. Most of their transactions go across state lines, and sales taxes are not collected. They say imposing sales taxes on the Internet could stifle growth in an industry that is helping to drive the U.S. economy, and taxes could drive Internet firms overseas. On the other side are traditional retail merchants who collect sales taxes and the governments that rely on those taxes to pay for police, schools and roads. The retailers are losing business to the tax-free Internet. That cuts into the 36% of state and local government revenue that comes from sales taxes. The commission's task is to recommend changes to Congress that both sides can live with. It is faced with the current system of more than 3,000 state and local sales taxes. And the products that are taxed, such as food and clothing, vary from state to state. For that reason, the panel, might consider something as radical as a national sales tax. Its recommendations are due to Congress in April 2000. ''America is a world leader in information technology. We are at the cutting edge of Internet commerce, and we want America to maintain that position of leadership,'' says Virginia Gov. James Gilmore, the commission chairman. The debate will affect ''every human being, every potential customer, everyon... ...ead, marketing vice president for the Los Angeles-based research firm, were the lengths to which online shoppers would go to avoid taxes. Twenty-four percent said they would bypass well-known retailers that charge sales levies in favor of unfamiliar merchants that don't, to save on taxes. "That's a real indication of the concern about taxation," she said. Richard Wolf, Billions of dollars hang over Internet tax debate. , USA Today, 06-22-1999, pp 01A. J. Leffall, Lawyers tell e-commerce panel tax system needs overhaul. , The Washington Times, 05-31-1999, pp D13. Szabo, Joan, Net returns: just when you thought it was safe to do business in cyberspace....(Tax Talk)(Column). Vol. 26, Entrepreneur Magazine, 09-01-1998, pp 70(3). James T. Madore, Great Debate / Shoppers, governments in dispute over issue of online sales tax. , Newsday, 08-15-1999, pp F06.

Why Do Parents Let Their Kids Get Fat?

http://www. bbc. co. uk/news/magazine-19661085 Child obesity: Why do parents let their kids get fat? Obesity experts say parents are struggling with a multitude of problems when it comes to their child's weight. They range from a lack of education about food, limited cooking skills and limited money to buy healthier food to longer working hours and marketing campaigns for junk food aimed at kids. Despite the rise in child obesity, experts say it's wrong to just blame parents. They definitely have a responsibility, but the issue is much broader than simply blaming them,† says Paul Gately, professor of exercise and obesity at Leeds Metropolitan University. Many parents don't realise their child is fat when it might be obvious to other people, he says. According to studies, 75% of parents underestimated the size of an overweight child, while 50% underestimated the size of an obese child.People also judge things on what they see around them on a daily basis, Gately says. Tracey adm its she let her daughter's weight creep up because â€Å"she was no bigger than some of her friends†. From a very early age children are very good at using a â€Å"whole set of behaviours† to get what they want, say experts. It's easy to judge but nearly every parent in the land has caved in to some sort of emotion blackmail from their child, says Gately. It just might not be about food.Charlie Powell, campaigns director of the Children's Food Campaign – an alliance of 150 education bodies, health groups and children's charities – says it's also hard for parents to stand up to the barrage of junk food advertising. A bit about food industry: There are huge hurdles they have to surmount to keep their children healthy. It's stuff that wasn't around in years gone by and food manufacturers are very sophisticated in the techniques they use to appeal to children. † A bit about media: A lot of it is because the images of obesity that we see in the media are people who are massive, 30 stone (190kg) or above. This is what a lot of people think of as being overweight, but they are extreme cases. It only takes a few extra pounds to actually be overweight. † A bit about social aspect: (bigger sizes are more tolerated bcause it’s not clear any more where is the limit of being fat; evwerybody around are bigger) â€Å"Two thirds of adults in the UK are now classified as overweight, so our perception of what we consider the average size to be has changed,† says Gately.

My Love For Music Started - 1054 Words

The Delicate Music My love for music began before I was even born. In the womb, I listened to music. My mom was like any typical first baby mom, that lets their baby listen to classical and instrumental music. I listened that beautiful, delicate music, before I set foot on this earth. I loved all the sound of instruments deep and high play together, to make a masterpiece. This is when my love for music started to bloom. When I reached about 5th grade, we had to choose what type of ensemble we wanted to be apart of. The choices were choir and band. Of course, I chose band, the problem was I didn’t know what I wanted to play. Before we were put into the class, we had the opportunity to choose what†¦show more content†¦I prayed that this instrument was the one. I took a nice long, deep breath and blew almost all the air in my lungs, into the wooded recorder. A loud squeak, exploded from the instrument. I jump, not expected to play such a disgusting sound. I giggled, and so did the teacher. He suggested that I blow less air, to get a better sound. I position my lips back on to the mouthpiece, and blew a less amountq of air, so I wouldn’t get that volger sound again. Then I heard it. My first note! The sound trickled from the instrument into the room, filling it with my beautiful sound. Suddenly, that sound formed it that horrific squeak I heard the first time. I giggled harder, an d so did the teacher. â€Å" This is one.†, he stated to my mother how was standing next to the chair I was sitting on. I had forgot she was there for a second. This was my first step into the music I had always listen to. Now, I could be the one making it. As time went, I grew as a musician. When 7th grade came around the corner, my conductor stated the a competition was going on called, The Solo Ensemble Festival. In the competition, you could play with another person, which would be an ensemble, or a solo. I heard about it in 6th grade, but you couldn’t sign up to be in it, until you were in 7th grade. This gave me the opportunity to show off my talent. I ask a couple of my friend if they wanted to play with me in the solo

Addiction of Social Media - 1098 Words

Social Media: The Good, The Bad, The Ugly Truth. The very first electronic mail was sent in 1971 but in just over 40 years, social media has become a global phenomenon. Social media are websites or applications that allow people to share their ideas, thoughts and feelings through mediums like photos, music and videos. Facebook, Instagram, Twitter, Ask.fm are just a few examples of such platforms. Social media has made the world a smaller place with just a click of a few buttons. One could literally do anything, such as, posting photos, making videos or exchanging ideas. Furthermore, through social media, one can also readily share ideas and easily communicate with people around the globe. With the convenience and accessibility it brings,†¦show more content†¦It seemed they are more likely to make and reach out to online friends for emotional support (Routledge, 2015). Today, people are much more dependent on their smartphones and other electronic gadgets, and consequently, less dependent on actual human interactions. Many people do not realize the gradual strain in actual social relations because these relationships are usually not as intimate (Ma, 2011). Social media has led to antisocial behaviors, in which there are lesser physical social interactions and less intimate ties. Over the years, there have also been concerns about the connection between social media and mental health. These issues have been increasing. People often invest their time on Facebook, trying to escape their feelings of depression, but social media itself can actually be the root cause of negative feelings (Healthcare, 2015). Being too hooked on social media can actually cause insomnia, suicide and other mental illness. The recommended hours of sleep per night is 8 hours, but with social media in the way, people are only getting 6 hours and 21 minutes of sleep (Whiteman, 2014). People think that once you sleep, the brain shuts off, however in all entirety, the brain is actually working by keeping the relevant memories and getting rid of the irrelevant ones that is not needed anymore (Stein, 2014a). So the later people sleep, the less the brain can actually do any of its activities andShow MoreRelatedAddiction To Social Media Addiction736 Words   |  3 PagesSocial media has been p roven to be addictive, but like the drug LSD, the effects vary from person to person; adolescents and persons with narcissistic traits are the most commonly affected, while depression is the biggest identifier it is also being the most common side effect. 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