Financial Management Essay

Question 1-3 Suppose three honest individuals gave you their estimates of Stock X’s intrinsic value. One is your current roommate, the second is a professional security analyst with an excellent reputation on Wall Street, and the third is Company X’s CFO. If the three estimates differed, in which one would you have the most confidence? Why? Question 1-7 Should stockholder wealth maximization be thought of as a long-term or short-term goal? For example, if one action increases a firm’s stock price from a current level of $20 to $25 in 6 months and then to $30 in 5 years but another action keeps the stock at $20 for several years but then increases it to $40 in 5 years, which action would be better? Think of some specific corporate actions that have these general tendencies. Question 1-9 The president of Southern Semiconductor Corporation (SSC) made this statement in the company’s annual report: â€Å"SSC’s primary goal is to increase the value of our common stockholders’ equity.† Later in the report, the following announcements were made: a. The company contributed $1.5 million to the symphony orchestra in Birmingham, Alabama, its headquarters city. b. The company is spending $500 million to open a new plant and expand operations in China. No profits will be produced by the Chinese operation for 4 years, so earnings will be depressed during this period versus what they would have been had the decision been made not to expand in China. c. The company holds about half of its assets in the form in U.S. Treasury bonds, and it keeps these funds available for use in emergencies. In the future, though, SSC plans to shift its emergency funds from Treasury bonds to common stocks.

Fitzgerald and Steinbeck: Depiction of a Shared Theme Essay

â€Å"Forgotten is Forgiven. † This quote by F. Scott Fitzgerald depicts the true reality of death, once death has taken you and you are forgotten, you are then forgiven. This reality is true in some literature of F. Scott Fitzgerald and John Steinbeck. The Modern age (1915-1946) has covered some of America’s most important history. During this time period WWI occurred along with: the Roaring 20’s, The Great Depression, WWII and the H-bomb. These historical events gave modern literature characteristics that no other time period can replicate. The great writing movement of modernism came along with the disbelief in the American Dream. There was no longer a need to â€Å"capture the essence of modern life. † Many forms of the era were fragmented and not sequential. Many transitions, resolutions, interpretations, summaries and explanations were used that are common in traditional writings. Themes would relate to issues and events of the time, while having readers draw their own conclusions to these writings. Many techniques of writing were used as well, like stream of consciousness (recreation of the natural flow of thoughts), and the use of symbolism and allusions to suggest themes. Fitzgerald, author of â€Å"Winter Dreams† and The Great Gatsby, and Steinbeck, author of â€Å"Flight† used modernistic writing and their personal life encounters to illustrate their thoughts that â€Å"nature serves as an escape from reality†. Being the fore front of Modernism, F. Scott Fitzgerald and John Steinbeck use similar settings, symbolism, and character development to depict a shared theme that nature can serve as an escape from reality.

Analysis of Andre’s Mother by Terrence McNally Essay

The play, Andre’s Mother, by Terrence McNally is a story about accepting death and is based in a story about a young man who died before telling his mother that he was gay; leaving the man’s partner to break the news and to inform the mother about how much he missed seeing her and his fear of being rejected by her, in the time before his death. The theme of this story is to live life everyday with no regrets. Throughout the symbols and references you begin to understand the life of Andre. The white balloon represents letting go and leaving a young man in peace. The silence of his mother shows that she never accepted his sexual preference. While Hamlet references the struggles of his everyday life. The white balloon in the play Andre’s Mother is a symbol of Andre’s soul. Cal speaks about the white balloons saying, â€Å"They represent the soul. When you let go, it means you’re letting his soul ascend to Heaven, that you’re willing to let go. Breaking the last earthly ties†(McNally 737). Andre is saying that the white balloons are Andre’s soul and that when you release them, you’re willing to let go of all the wrong and let him rest in peace. Penny, Cal’s sister, and Arthur, Cal’s dad let go of the balloon without hesitation. After releasing their balloons Cal reluctantly admits, â€Å"I’m not ready yet†(McNally 737). This is because Cal still couldn’t let go and still had regrets. The balloon being white represents purity. Letting go of the white balloon meant that after all that was said, Andre was now clear and pure again. I believe that white balloon represented letting go of Andre and letting his soul rest in peace with no regrets and nothing left unsaid. Andre’s mother’s silence throughout the play proved to us she did not accept her son’s homosexuality. Cal tells Andre’s mother how much Andre missed her and longed for her acceptance. He gets finished with his rant and still no response from Andre’s mother. Cal gets mad and replies, â€Å"It’s bullshit. It’s all bullshit. [Still No response]† Her silence shows that she is not accepting of Andre’s sexual preference. At the end of the play Andre’s mom with her own conflicts releases the balloon. The play write quotes, â€Å"He goes, Andre’s mother stands alone holding her white balloon. Her lips tremble. She looks on the verge of breaking down. She looks at it awhile before she gently kisses it and lets go of the balloon†¦Ã¢â‚¬  I believe at that point that Andre’s mother forgave her son and was willing to wipe the slate clean by releasing the white balloon and letting Andre’s soul rest in peace. Andre’s mother’s silence throughout the play shows that she never accepted her son’s sexuality. Even though she wasn’t accepting she let her son rest in peace and let his soul ascend to heaven. Andre’s love of theater and the play Hamlet gave us an insight to his life. At the beginning of the play Cal expresses Andre’s love of theatre. Cal expresses, â€Å"God, how much he wanted to play Hamlet again. He would have gone to Timbuktu to have another go at that part. The summer he did in Boston, he was so happy! †(McNally 736). This reference to Hamlet, I believe showcases the struggles Andre went through. Andre struggled with decision-making and avoiding things, as did Hamlet. Hamlet struggled whether to avenge his father and struggled with the decision that he had been avoiding. This is also apparent when Cal brings up Andre’s great performance saying, â€Å"You should have come up the summer he plated Hamlet. He was magnificent†(McNally 738). I believe the Hamlet reference was to showcase Andre and his internal struggles. McNally uses strong a strong sense of symbolism throughout the story. First by holding a white balloon, the characters were holing a representation of Andre’s life and the memories that they each had of him. By releasing the balloon, they were letting go of the sadness of his death and for some, the secret he’d been keeping from his family. This also represented the crossing over of Andre. In the story, Andre was afraid of being rejected by his mother, whose silence throughout the play proves that she was incapable of offering acceptance to his homosexuality. With Andre’s love of the theater and specifically Hamlet, he is relating himself to one of the most recognized internal struggles of the theater world.

Color dichotomy vs. the ethnoracial pentagon Essay

Throughout American politics, two particularly well known categorizations of race and ethnicity have arisen: â€Å"Color Dichotomy† and the later â€Å"Ethno-racial Pentagon.† Each seeks to define and categorize the vast racial diversity America prides itself on. While intending to create clear and fair ethno-racial constructions, there are obvious advantages and weak spots to each for the purposes of analyzing American politics. An â€Å"old-fashioned† and less popular method of categorization is the â€Å"Color Dichotomy.† This concept distinguishes two complementing counterparts to every situation; in terms of race and ethnicity: white and nonwhite (people of color). In the US, about 75% of Americans identify as white, while about 25% of Americans identify themselves as â€Å"nonwhite.† Applying this construct to other dividing barriers among people, other categories appear such as: oppressor vs oppressed, Hegemon vs. other, and dominant vs. minority. The main advantage of this concept is in its simplicity. By having only two dividing categories, everyone could conceivably fit neatly into one of these two categories. Collapsing an incredible amount of diversity of culture into one all encompassing â€Å"colored† category, however; this framework obviously contains numerous problems. Thousands of differences between many races and culture are consequently ignored. â€Å"[†¦] all distinctions between various ‘colored’ peoples are less significant than the fact that they are nonwhite† (Hollinger 25). It could also be argued that even the â€Å"white† category collapses many different origins into a bland and stereotypical title. The outright ignorance present within this model leads to its unpopularity within American politics especially. The ethno-racial pentagon challenges this model by supplying strong cultural content. In contrast to the two divisions within the color dichotomy, the ethno-racial pentagon provides five more specific categorizations of race/ethnicity: Euro-American, Asian American, African American, Hispanic/Latino, and Indigenous Peoples/Native American. â€Å"To be sure, a value of the pentagon is its capacity to call attention to a certain range of social and cultural diversity† (Hollinger 25). The pentagon also keeps some simplicity, however, so that people are easily categorized for the purposes of affirmative action†¦etc. Although this framework is more  attentive to the differences in the â€Å"nonwhite† group of the Color Dichotomy, it also still retains similar problems of ignoring certain races or collapsing many together into one. All of these ethno-racial blocs have distinguishable diversities which are ignored in order to be jammed into one category or another. Leas t apparent is the diversity within the Euro-American bloc, or whites. Indeed, Jews, who are now considered Euro-American/white, used to be considered a different race altogether. The Irish and the English, between which existed the vehement tension of conflict and oppression, are now thrust together under the same category with the ethno-racial pentagon. The internal diversity within the Asian American group (Koreans, Cambodians, Chinese, Vietnamese, and Japanese†¦and all of the consequent subgroups) must be quietly faded in order to make the category a unit; ignoring such tension between Koreans and Japanese for example. Another bloc in which the condensation of ethnic diversity is also less obvious is that African American bloc. The specific country of origin and culture within the African American bloc is forgotten or ignored as inconsequential. Key to this objection is the â€Å"one-drop rule.† This rule maintains that â€Å"one drop† of African American blood in a person designates that person African American regardless of their other ethnicity(ies). This rule obviously exists to maintain the existence of the African American category without the complications of recognizing white mixing (or other races). This gives the gross impression that African American blood is â€Å"tainted,† â€Å"infectious,† and â€Å"overpowering.† Besides ignoring differences within blocs, another major problem with the ethno-racial pentagon is the exclusion of Arab Americans and multiracial people. According the pentagon, Arabs do not even exist in the US. Multiracial people must either choose only one of their heritages and ignore the other, or choose not to be included under the pentagon. Both of these groups threaten to turn the pentagon into a hexagon. However, even this conformation would be unsuccessful as multiracial people are not necessarily part of their own racial group, but two or more. Ignoring their legitimate ethnicities to create a new bloc which only recognizes the fact that they are multiracial, and not their individual races, would create further problems. These visibly unfair factors continue to weaken the foundation  supporting the ethno-racial pentagon. The ethno-racial pentagon furthermore places a strong and unnecessary emphasis on race as a dividing factor. Identifying an individual as one race or another brings excessive attention on the differences that could potentially separate Americans if these barriers are continually exaggerated and stressed. Interracial relationships are ignored with both systems. However, from a biological perspective, race can almost be ruled out as inconsequential. â€Å"[†¦] The genetic variation from one race to another is scarcely greater than the genetic variation between races† (Hollinger 34). Morever, Hollinger claims â€Å"If the classical race theory of the nineteenth century is not directly behind the pentagon, this structure’s architecture has its unmistakable origins in the most gross and invidious of popular images of what makes human beings different from one another† (32). Overall, the two frameworks for categorization of ethnicity and race contain too many inte rnal weaknesses to be used effectively and fairly in American politics.

Rob Dyrdek

Rob Dyrdek is a guy who has had some tough times but has always had a great outlook on life and a great personality! I look up to this guy and wish to someday be like him! Dyrdek is an inspiring person do to his outlook on charities and how much he truly gives! â€Å"Change within a community comes when vision meets hard work and persistence† (Claudine Heizer. ) When he does something he is very determined to get it done, he won't leave business unfinished! Rob Dyrdek is a very charitable man!He enjoys donating to charities and builds skate parks for kids out there who don't have one in their community! What I love the most is that he will go out and give big black trash bags full of stuff he really just doesn't need that includes: Clothes, Shoes, and other pieces of clothing or accessories that he has laying around! Also he will go up to a random homeless person and offer to take him out for food or give him money and I don't mean the average dollar or two I mean about a hund red dollars, more or less, which is really kind!What the homeless person does with it is their problem but the point is Rob isn't afraid to â€Å"throw his money around† as many people view it as! I see it as him being a very giving person! Dyrdek has a positive, care-free outlook on life which is quite inspiring. Rob has the endurance and potential to accomplish victory no matter what triumphs he has to conquer. Dyrdek can really accomplish great things! When he starts something he'll do it until he is finished! He gives to children; he honestly is a great guy!Rob Dyrdek would get bags of his old clothes and he would pack it up in those big black trash bags and go up to some homeless guy and just give it to them! Also he wanted to learn how to fly one of those electric helicopters and saw that there was family owned business and bought all of the helicopters so he would learn! He helps families in need even if it is for immature projects like that family owned business! To o ffer and accept encouragement are significant responsibilities for Rob. He enjoys encouraging others and he is only human he needs people to encourage him!His personality plays a huge role on his life as well as his outlook! He is a sweet, caring guy who likes to encourage and be encouraged! There are some people out there that actually need that extra â€Å"You look great today! † or that â€Å"I love your shirt! † It makes them feel as if people actually pay attention or really do care! The things some people do may astonish you for a while! Especially what Dyrdek does and how he looks at things! I hope there are more people out there who see the world like he does or would take a glance at what he sees through his eyes!

Public health and health policy Discuss the health problems and health Essay

Public health and health policy Discuss the health problems and health service issues that are associated with homelessness in L - Essay Example In London, the homeless face the problem of insufficient primary and secondary care, in spite of their critical health situations. National Health Service, the primary provider of public health in the UK, cannot provide such essential services to people without access to fixed address, a common feature in developed nations (Daly, 2013, p.213). In addition, Rogers and Pilgrim (2010, p.60) asserts that the homeless are prone to neglecting their health status, more than the general population, and they only seek such services when their health status have reached advanced stages. Homelessness is a complicated global issue that is caused by several issues while at the same time it does not have a single solution. In recent years, the government and global health organisations such as the World Health Organisation (WHO) have identified the complex health challenges affecting the homeless as the underlying problem apart from the obvious accommodation issues amongst others. In England, ther e are several National Health Services and other privately sponsored charitable services, which provide the necessary healthcare and support to the homeless. The civil society in England, noted that during the global downturn, the National Health Services reduced its spending on the homeless. ... Gramlich (2008, p.70) observes that there is not a single specific definition of the term as variance in temporal dimensions, cognition and lifestyle amongst the homelessness street people. Since homelessness is mirrored in different settings, several situations come into play; this paper posits that the political agenda as well as the prevailing social values have been strongly linked to the definitions. Conventionally, homelessness has a residential dimension and this can often be used to redefine the term in this context. This is because the apparent feature of the classification stems from the lack of conventional housing for those deemed homeless. Levy and Sidel (2013, p.176) applies the United Nations Committee on Human Rights definition of the term and they intone that people who sleep in outdoors such as vehicles and abandoned non intended for human dwelling. Legal and statutory definition of the term have a characteristic contradictory nature and in the United Kingdom alone, there are several acts that define the term both at the national level and in the devolved systems. However, housing authorities in the United Kingdom consider domiciled individuals who have applied for their accommodation as homelessness applicants and therefore categorized. In the strictness of the term, the city of London has often distinctly identified two groups; the homeless and the rough sleepers. The rough sleepers are those who live and sleep on the streets of several English cities, yet in our case we shall be confined to London and Newham in particular. The Department of Communities and Local Government (2013) describes a person as statutorily homeless

Distinguish between the money and capital markets Essay

Distinguish between the money and capital markets - Essay Example Money markets encompass a broad assortment of institutions and procedures that are related to and transact in short-term debt instruments (which have maturity periods of less than a year). These instruments are usually issued by borrowers that boast of high credit ratings. Good examples of instruments traded in money markets are U.S. Treasury bills, many federal agency securities, bankers’ acceptances, commercial paper and negotiable certificates of deposit. Common equities or shares of publically traded companies do not come under the money market. One of the distinguishing features of money market is that it is an intangible market, for most of the transactions are carried out through electronic network systems. Further, â€Å"the money market is designed for the making short-term loans where individuals and institutions with temporary surpluses of funds meet borrowers who have temporary cash shortages. One of the principal functions of the money market is to finance the wo rking-capital needs of corporations and to provide governments with short-term funds in lieu of tax collections. The money market also supplies funds for speculative buying of securities and commodities.† (www.thefutureofmoney.blogspot.com, 2009)

Computer Game Improves the Motivation of Learning Mathematics Research Paper

Computer Game Improves the Motivation of Learning Mathematics - Research Paper Example According to Azevedo, mathematics or math games are fun activities. They usually encourage motivation, call for deep thinking, require both chance and skills, and provide multiple approaches to problem-solving. These games implement certain mathematical strategies and skills by leveraging the natural inclination of the student to play. The games can either be played by an individual, a small or large group; it can be cooperative and/or competitive. Mathematical games have been proved to have some rewarding impacts to students. Azevedo argues that games are usually part of after-school activities. Math games can provide the students with suitable contexts for developing both socially and mathematically. In addition, Shin, Sutherland, Norris & Soloway affirm that students can explore and discuss new strategies with their peers and use these strategies to solve and calculate mathematical problems. Furthermore, math games allow the students to participate at a level of their choice and b uild on their knowledge and understanding. There exists limited empirical literature that supports the hypothesis with most of those advocating for the technique being the game developers and investors, which makes the supporting results relatively biased.There have been many studies showing how computer games find their place at the elementary school class and students. In order to support the hypothesis that computer games improve motivation in learning mathematics in elementary school, four studies from different sources are considered.

Changes in English Overseas Trade Essay Example | Topics and Well Written Essays - 2750 words

Changes in English Overseas Trade - Essay Example For example, this group maintains the English tradesmen manipulated the Civil War that affected the Dutch in taking over the textile industry and the woolen sector of Italy. In addition, the paper looks at their other claim that the economic dominance of the English was because of political power and favoritism (Luu 2005, p.47). On that aspect, this paper provides evidence proving that the market expansion and increase of commodities came because of business strategies that other nations could foresee. Furthermore, the argumentative paper gives the economic benefits that England enjoyed because of being an economic powerhouse and implications of powers to its citizens. There have been several debates whether there have any changes or not in the English overseas trade. This concerns changes in the markets, commodities and commercial coordination among the traders who conducted business between 1500-1700. Those who are against the changes state that there were no increase in imports an d exports in during the English trade. Alternatively, those in support point that there were significant alterations in trade of the English tradesmen during the sale of their commodities and other businesses such as merchanting, warehousing, banking and insurance among others. On that account, there were many changes in English overseas trade during the period of 1500-1700 (Coclanis 2005, p.134). These changes pertain to markets, commodities and influences in commercial organization. For example the joint annual value called free on board consisting of exports, imports and re-exports inclined in the years of 1663-69 to 1699-1701 from ?8.5 million to ?12.3 million. Around this period, there were alterations in the geographical directions and the composition of commodities concerning English trade. Furthermore, the year of 1621 saw the northern Europe record a total of 62.4 percent of London imports while the southern Europe registered 31.2 percent. However, only 6.4 percent of impor ts came from outside Europe. These imports accumulated to 35.7 percent, 29.7 percent and 34.7 percent in all the three regions (Divitiis 2003, p.99). Additionally, there was domination of woolen textiles of varying types sold overseas by England in the beginning of 1600s. There was also the presence of re-exports entailing produce of colonial nature from the East Indian colonies and the Americas in the period of 1699-1701. These exports accrued to a total of 30.9 percent while the woolens registered 47.4 percent. However, those in opposition of the main changes in English overseas trade argue that between 1500-1700, the changes were meant to save labor and to control forces of nature and not trade. On that note, they argue that the change in the national income per person was not because of the increase in the exports and imports but due to transformations in employment (Fisher et al 2004, p.11) On that aspect, this is untrue because the saving of both human and capital labor came a s result of the accrued profits in the sale of commodities and changes in the markets. Furthermore, contrary to the assumption that the national income per head did not increase because of the rise in exports and imports during overseas trade, the truth is that alterations in the

ME GLOBAL ACASE FOR CULTURE Case Study Example | Topics and Well Written Essays - 750 words

ME GLOBAL ACASE FOR CULTURE - Case Study Example However, in 2011, this company registered its best performance in the market. The company sales were high, thus resulting in great profits. Despite this, MEGlobal is still faced with different problems, which have prevented it from achieving stable performance in the market. This paper therefore, addresses some of the problems MEGlobal experiences, and the possible solutions to these problems. The main challenges of MEGlobal have their roots in the management of the company. MEGlobal is a joint venture, therefore, this company, like many other joint ventures, has experienced considerable obstacles, which have influenced the company negatively. Dow Chemical Company of the United States and Petrochemical Industries Company (PIC) of Kuwait own MEGlobal jointly. In 2004 when the joint venture was formed, Dow contributed technology and expertise, while PIC contributed finances. Once the joint ownership documents were signed, MEGlobal began operating as a joint venture. During the initial period of this joint venture, great profits were realized. However, after considerable period, these profits came down (Hayes 1). Cultural difference in this company presents a major problem. This problem has been experienced since the initial developmental years of MEGlobal. This joint venture resulted in the integration of employees from the two different countries. These have different cultures, therefore, initially; it was a challenge for them to get along harmoniously without any misunderstandings based on their cultural differences. Employees from Dow had to work with Kuwaitis, while other Kuwaitis were transferred to Canada. Cultures for Kuwait people and Canadians are different, therefore, initially, it was hard for the employees from different cultural backgrounds to coordinate and cooperate. For a company to succeed there must be a coherent culture in the company, which all employees adhere to. Poor integration and communication in the company

Analysis and critique Essay Example | Topics and Well Written Essays - 500 words

Analysis and critique - Essay Example The side effects, resistance to insecticides in vectors and cost-effectiveness of DDT were discussed (2009). He concludes that though there is limited implementation of DDT alternatives, however, more research needs to be done, as IVM will diminish dependence on DDT (2009, p. 1661). Van den Berg states that, when compared with other insecticides, DDT was once a cost effective method of vector control, however, that does not hold true any longer; even as early as 1998, the cost of DDT and other insecticides became almost equal, with DDT costs ranging from US$1.50-3.00 and other insecticides costing less than US$2.20 (2009, p. 1657-1658). Moreover, recent studies show that the risk of human exposure is great in those living in sprayed houses (2009, p. 1658), however, there is a dearth of such studies, e.g. no peer-reviewed data is available from India which is the biggest user of DDT (2009, p. 1658). Van den Berg points out that though the WHO is reassessing the health risks of DDT, however, progress in this regard is slow (2009, p. 1658). DDT is known to be a persistent molecule and, as such, it takes a long while for it to degrade. It does not run-off either, as it binds itself with the organic matter present in soils and aquatic sediment (van den Berg, 2009, p . 1658). The DDT molecules have been shown to cause a lot of harm in the environment; therefore, there is a need for other alternatives to be explored. Another disadvantage of continuing to use DDT is the insecticide resistance that has been reported in certain species of the vectors. Van den Berg states that though the resistance was developed as a consequence of the excessive use of DDT in the agricultural sector, however, it is further exacerbated by the use of synthetic pyrethroids (2009, p. 1658). Van den Berg has also given a list of certain alternatives to

Air and Water Pollution Essay Example | Topics and Well Written Essays - 1000 words

Air and Water Pollution - Essay Example For example, carbon monoxide, oxides of nitrogen, sulfur oxide etc are some of the primary pollutants whereas ozone, sulfuric acid etc are some of the secondary pollutants. Pollutants which cause direct damages to air and water are called primary pollutants whereas pollutants which act through other objects are called secondary pollutants. This paper analyses the action of pollutants on air and water, taking two air pollutants and two water pollutants as examples. Air Pollutants Carbon monoxide gas emitted by automobiles is one of the major primary air pollutants. In fact automobiles account for more than 60% of the carbon monoxide production. Oxygen is required for the burning of any objects. If the burning or combustion process faces shortage of oxygen, carbon monoxide will be formed. Automobiles emit carbon monoxide because of the problems in the fossil fuel combustion process or the shortage of oxygen inside the engines. It is a serious poison gas which can kill living things qui ckly if inhaled high concentration of it. When Carbon Monoxide is inhaled, the CO combines with the hemoglobin to form carboxyhemoglobin (COHb). CO displaces oxygen attached to the carrier molecule, hemoglobin. The COHb bond is over 200 times stronger than oxygen's bond with hemoglobin. The strong COHb bond makes it difficult for the body to eliminate CO from the blood (Indoor Air Quality --- Carbon monoxide (CO), n. d) â€Å"Visual impairment, reduced work capacity, reduced manual dexterity, poor learning ability and difficulty in performing complex tasks etc are some other health problems associated with exposure to carbon monoxide†( Carbon monoxide, n. d). Carbon monoxide is present in the lower atmospheric layers only because of its short life. Carbon monoxide consists of one carbon atom and one oxygen atom and it is not a stable gas. It quickly accepts one oxygen atom from its neighborhood and converts itself into carbon dioxide which is a stable gas. Ozone (O3) is one o f the major secondary air pollutants. In fact ozone layer in the atmosphere protects us from the harmful UV radiations emitted by sun. Ozone normally presents in two layers of atmosphere; one near the ground level and the other high up in the atmosphere. Even though, ozone layer high up in the atmosphere acts as a protective shield for us, the ground level presence of ozone causes major health problems to us. Ground level Ozone is produced when some substances undergoes chemical reaction in the presence of sun light. The destructive ability of ground level ozone cannot be predicted since ozone has the ability to travel longer distances. â€Å"Short-term exposure to ozone peaks can temporarily affect the lungs, the respiratory tract, and the eyes. It can also increase the susceptibility to inhaledallergens. Long-term exposure to relatively low concentrations of ozone can reduce lung function† (Scientific Facts on Air Pollution Ozone, 2011) Water Pollutants Sewage is one of the major primary pollutants of water. Sewage normally consists of organic matters including solid and liquid particles. It normally consists of industrial waste, human and animal wastes etc. It encourages the growth of microorganisms which can raise severe health threats to both marine life and land life because of its abilities to cause and spread different kinds of diseases. Sewage decomposes using the dissolved oxygen content in the water. When more solid particles present in

In Germany Term Paper Example | Topics and Well Written Essays - 1250 words

In Germany - Term Paper Example According to the term paper "In Germany" findings, modern historians like Kocka claim that the development and expansion of fascism was a long and enduring process, with its roots in the nineteenth century. Apparently, fascism was a complex product of numerous political factors; most importantly, the weaknesses inherent in the German political and party system. I think that this knowledge of history can help to prevent future tragedies similar to fascism. Germany has a well-developed system of art trends and experiences. Expressionism is one of the defining features of German art heritage. Despite the lack of agreement on what Expressionism really means, it takes a definite place in the development of German art. Expressionism has a rich history in Germany. Elger writes â€Å"expressionism, however, was by no means limited to fine art, even though its significance and influence in other areas should not be overestimated. The desire to follow an Expressionist style was equally widesp read in literature, drama, stage design, dance, film and architecture† (8). This being said, Expressionism in Germany comes as a complex and omnipresent phenomenon, which crosses the boundaries of fine art and greatly affects all areas of human creative activity. Simultaneously, as Expressionism affected creative activities in Germany, so was Expressionism influenced by the political and social climate in the country. Art and Expressionism, in particular, is both a product and reflection of the social and political climate in Germany.

Public Policing Vs Private Security Comparison Paper Essay

Public Policing Vs Private Security Comparison Paper - Essay Example Such programs include crime prevention and drug awareness. They have the authority to search, arrest, and detain individuals under the provisions of territorial and other police acts. They have the integral responsibility to protect the public property and places. On the other hand, private investigators usually carry out investigations to locate missing persons or obtain information for civil and legal litigation cases. Some of the other important services rendered by them include, ‘investigating corporate fraud, endowing with risk management consultations, and executing security measures to defend property from theft and fire’ (‘Private investigator, 2011). These personnel are not recruited by the government; instead they are directly employed by security companies and public administration industries. The private security personnel renders their services in protecting the ‘mass private property’, which means venues that are privately owned or run, b ut used widely by the public such as the privately owned airports, sporting arenas, or shopping malls. In the same way they offer many services offered by the public police, but they act only on behalf of the employer and not on behalf of the public. Some Distinctive Features Private security professionals like the ASIS helps to develop security management standards and guidelines. Their commission works with numeral national and international standards-setting organizations to advance their security practices. Utilizing the knowledge and experience, they practice worldwide through development of standards and guidelines (ASIS IT security, July 2011). The primary objective of private security officials is to keep up order and enforce rules at public events and concerns. They also provide a vast variety of services like providing armored car service for transporting valuables, controlling the access to venues, and protecting the property from theft and vandalism. Usually corporate co mpanies directly employ the security personnel for their protection and safety. They are also employed at public administration, banking companies, entertainment and recreation industry, transportation and warehousing, healthcare and social assistance, and accommodation and food services. Private security personnel, acting on behalf of the employer have many of the same cranial law enforcement powers as public police have. They are legally able to arrest and detain individuals. The trespass laws, in particular, are frequently used by private securities, because most of such laws allow them to arrest the trespassers. The Supreme Court of Canada defines that â€Å"the trespass acts are the workhorse of private security services in their patrol of the shopping malls, airports, sports stadiums and other private spaces where the public tends to congregate†( In search of security, 2006). Major Differences in Leadership On comparing both policing, we find that public policing and pr ivate security have many distinctive features with regard to leadership. Public policing is the ability to implement the law and maintain order in the society; whereas, private securities are paid agencies which perform defensive and loss-preclusion duties. Though both forces are handling different services and duties, the ultimate goal is to maintain a composed and tranquil atmosphere in the society. In the same way, as Allen and Sawhney (2009, p. 40) point out, the day-to-day activities of police and detectives differ according to

Electrification transforms city life. (1880) Research Paper

Electrification transforms city life. (1880) - Research Paper Example Electric powered street cars became developed, and electric trolleys in the 1880’s, made it possible for the rich and those in the middle class, to move smoothly in the newly constructed rail lines and trolleys. These trolleys allowed people to move smoothly from the business districts to their residential neighborhoods. This led to expanded and increased city limits and suburbs became developed. The developed suburbs allowed the wealthy families enjoy their privacy and ownership of their homes without sacrificing the excitement of the city.2 The introduction of the modern convenience and the vast technological marvels, such as indoor plumbing, telephone and the famous Brooklyn Bridge provided an appealing aura that attracted thousands of people to the city. Cities grew upwards and outwards. The tallest building in the US was the Trinity Church in New York before the invention of electricity. This got overtaken later by the New York World building, a 26 storey building. The growing size of the office buildings showed the healthy and vibrant growing economy. All businesses, steel mills and factories experienced an increase in their profits.3 The invention of electricity in turn saw the arrival of new technologies. These technologies enabled the constructions of buildings taller and bigger than before. The newly built sky scrapers needed elevators to transport people. In 1870’s, six storey buildings used steam powered elevators that became characterized by cables that got wound around a gigantic rotating drum. These elevators were not appropriate for taller buildings, because the drums would have to be abnormally large. During the 1880’s, with the invention of electricity, the invented electric elevator provided a more practical and suitable solution.1 The built tall buildings needed ventilation systems to cool them during the summer period and heat them during the winter. The ventilation systems adopted in the 1860’s, required steam powered

Special Educational Journal Research Paper Essay

Special Educational Journal Research Paper - Essay Example Issues in judgment and evaluation Efficacy of no detention policyFocus on exceptional approaches should be applied for teaching and learning Society should take active participation in the improvement of schools and its practicesChange in the teaching-learning method and the provision of multi-level teaching-learning in different subjects in primary schools should incorporated Approaches to teaching and learning should be different and easy to learn pedagogy should be culturally specific Creativeness should be nourished and development should be cognitiveEmerging needs of the society and education SECONDARY EDUCATION Identification and nurturance of competent ideas in different subject areas in varied classes at different level Ultimate methods of learning to learn new things Integration of skills needed to life should be incorporated into curriculum, textbooks, instructional materials and teaching-learning and evaluation process Identification of suitable grade/class for introduction of second language on the basis of analysis of linguistic situation in the state and or state needs Identification of class/grade/stage at which Hindi/English should be introduced on a compulsory basis as second language and the period for which these should be taught Formulation of State specific plans concerning identification of class/grade in upper primary stage from which third language should be introduced Making curriculum indigenous/culture specific/contextual Developing remedial instruction in different subject areas Development of concepts related to sustainable development and integration in curriculum, textbooks and instructional materials with other subjects and lifePolicy studies in science education... Clark, C. M. (Ed.). (2001). Talking shop: Authentic conversation and teacher learning. New York: Teachers College. Retrieved 15 October 2006, from http://convention.allacademic.com/aera2004/view_paper_info.htmlpub_id=939&part_id1=23267 Cole, A. L., & Knowles, J. G. (2000). Researching teaching: Exploring teacher development through reflex inquiry. Retrieved 15 October 2006, from Hopkins, D., & Stern, D. (1996). International perspectives and policy implications. Teaching and Teacher Education. Retrieved 15 October 2006, from Nuthall, G. A. (2001). The cultural myths and the realities of teaching and learning. In L. Livingstone (Ed.), New Zealand Annual Review of Education, Retrieved 15 October 2006, from Robinson, V. (1998). Methodology and the research-practice gap. Educational Researcher, Retrieved 15 October 2006, from

Developing an attendance management and rehabilitaion policy Essay

Developing an attendance management and rehabilitaion policy - Essay Example Under Innocent absenteeism, employees fail to go to work for reasons that are beyond their control. According to Cascio & Boudreau (2008, p. 45), IHC, which is one of the UK healthcare consultants argued that half of UK workplace absence his not often related with health problems. People just decide to attend their domestic or personal issues while others are not motivated by their jobs and various other reasons (Griffin, 2011, p. 280). Absenteeism is a global issues that face almost all companies though rates of absenteeism varies across companies depending on company location, size, industry type, weather, and job stress inherent in a given job position and responsibility. Some of the reasons for work absenteeism include poor attitude toward work that may rise from abuse of freedom or critical issues like sick leave permissions. Personal or family problems including the need to take care of sick children or elderly, family conflicts, pregnancy problems among most women among other reasons are cited as common causes of absenteeism (Jacobson and School of Psychology, 2007, p. 136). In organizations where the workforce constitutes of aging population, there are often high rates of absenteeism since older people may not be able to hand work overload. In places where employees are stressed, absenteeism is often high, work-related stress may rise from poor feedback between employees and management, harassment and bullying, poor remunerations, overworking among other issues. As mentioned by Jacobson and School of Psychology (2007, p. 136), involuntary absenteeism may occur where employees are not provided with required transport. Other reasons of absenteeism may include activities of the organization such as trips, entertainment or training of staff. According to Cascio & Boudreau (2008, p. 46), some of the direct costs

Review phone lines not in use. will terminate them in oreder to save Essay

Review phone lines not in use. will terminate them in oreder to save the HQ money - Essay Example We've formulated the results of some unused telephone lines in the form of a list for our cherished customers’ perusal. We request you to please look up the attached appendix 1 and see if any of the phone numbers listed in it belong to you. The phone numbers listed in this appendix are subject to being terminated after a period of 15 days from now. Kindly notify us within a week of receiving this letter if any of the numbers belong to you. This would save them from being terminated uselessly. You can call us directly at our toll free number 1-800-OFFICES or you can e-mail us directly at support@hq.com to notify us. Effective after two weeks, this act of terminating unused telephone line connections would save HQ approximately $110K per year in telephone line costs. Thanks for helping us help you. This change will increase the overall revenue of the company and would help us focus more on providing high quality services with added motivation. Have a good day! Sincerely, [Your N ame] Services Manager HQ. Note: Appendix 1 attached overleaf. APPENDIX # 1. LIST OF UNUSED TELEPHONE NUMBERS. 1. (505)987-1123 2. (541)123-7786 3. (860)760-0098 4. (925)888-6543 5. (262)432-2234 6. (907)876-5511 7. (319)887-9987 8. (985)112-3123 9.

Ethics in Information Technology Essay Example for Free

Ethics in Information Technology Essay Chad White (2009) discussed that by the end of 2008, retailers have been sending a record breaking number of promotional emails. The main question is, is this increase worth the price of all the negative consequences of such campaign? Cassar (2009) said that people had less money to spend in 2008 and that they view the internet as a deal seeking venue but not actually purchase online. There are a lot of costs associated with even simple system messages like, â€Å"You have items left in your cart. † Doubling the sending of these emails over the holiday period can cause some serious irritation, too, as the company can easily be marked as spam because of these emails that are being sent at least twice daily by some. Before actually spending out the money for these promotional mails, it might be better if the companies spend the extra cost in promotion by helping the customers save more, for instance, they can offer a promotional coupon or free shipping. Noguchi (2008) said that email has become too time-consuming for people that instead of aiding to get things accomplished, email has become a distraction from work being done. In another article, Noguchi (2008) said that family can be reasons for email overload as some members of the family love sending pictures, videos and all other stuff they can think of to every email address they have on file. These things can get really distracting especially at work. Suggestions to resolve this dilemma: a person can always limit messages in his mailbox, do not open personal emails at work, mark emails requiring action, use spam blockers, be alert on the proper subject headings (Asiado 2010). The key is being organized (Asiado 2010). Schaper (2009) said that one way to avoid email overload is taking a break from emails even once a week. In fact, his research showed one Chicago based company is implementing this exact same rule. They understand that email is important and necessary to business but it can just be toxic, hence this policy. Glenn (2008) said that there is practically no privacy at work. Everything done by an employee on a work computer can easily be seen by his employer as everything is saved in the company’s hard drive. There is only one suggestion to resolve this: avoid using work computer to do incriminating acts against your own person or another. References: Asiado, T. (2010). Tips How to Reduce Email Overflow at Work. Suite101. Retrieved, 14 July 2010, from http://businessmanagement. suite101. com/article. cfm/tips-to-reduce-email-overflow-at-work Cassar, K. (2009). Little Holiday Cheer Ahead for Online Retail. neilsenwire. Retrieved, 14 July 2010, from http://blog. nielsen. com/nielsenwire/consumer/little-holiday-cheer-ahead-for-online-retail/ Glenn, H. (2008). E-mail at Work: Tips to Keep You out of Trouble. npr. org. Retrieved, 14 July 2010, from http://www. npr. org/templates/story/story. php? storyId=91604666 Noguchi, Y. (2008). Help! Family Spam is Crowding My Inbox! npr. org. Retrieved, 14 July 2010, from http://www. npr. org/templates/story/story. php? storyId=91402876 Noguchi, Y. (2008). Make it Stop! Crushed by Too Many E-Mails. npr. org. Retrieved, 14 July 2010, from http://www. npr. org/templates/story/story. php? storyId=91366853 Schaper, D. (2009). An E-Mail Vacation: Taking Fridays Off. npr. org. Retrieved, 14 July 2010, from http://www. npr. org/templates/story/story. php? storyId=91724075 White, C. (2009). Email Volume Sets New Records During Holidays. mediapost. com. Retrieved, 14 July 2010, from http://www. mediapost. com/publications/? fa=Articles. showArticleart_aid=98215

Chinese nurse-client relationship Essay Example for Free

Chinese nurse-client relationship Essay The Chinese perspective of nursing Nursing is to understand the health status and concerns of a person, to devise interventions with appropriate health knowledge and skills. There are four Chinese characteristics of epistemic concerns. Qing (? ) is emotion. Li (? ) and zhi (? ) means knowing what is good and right in practice through scientific or systematic studies respectively. Xing (? ) is action. The chinese perspective of nurse To nurse, Chinese people generally argree that the role of the nurses is to report their conditions rapidly to doctors. A Confucian principle of hierarchical relationship between doctor and nurses shows that nurses should know their place, defer to their superiors anf know when to call doctors. Solution to chinese implication Some Chinese cultures like belief, value, attitudes and taboos may act as barriers of clients and nurses. It can be tackled by reminding the nurse to be cultural sensitive in caring process. For instances, nurses may consider characteristics of Chinese people. Chinese always avoid the word dead which is a symbol of unauspicious. They can tacit communication approach like euphemism which is indirect words using the end of life. Nurses may apply therapeutic communication strategies: -To be client-focused, problem-oriented and situational based -Classified as supportive-expressive, analytic and consultative -Directive and educationally focused The Chinese culture is conflicts between Chinese culture and health belief of western medicine. To solve it, we nurses acknowledge of culturally specific nature of problem. Another Chinese culture is the tradition perceive problem as family affairs. To solve it, we nurse can build up nurse-client relationship with strong bond of trust by more communication.

Key Elements Of Information System Information Technology Essay

Key Elements Of Information System Information Technology Essay The task has been assigned to me by my college which is the ABP awarding body certification requirement. I have completed the assignment after a thorough study of various sources such as books, journals and websites. OBJECTIVES: Describe the concept of Information Based System in organization. Describe how Information System works in organization. Describe the various types of Information Systems by breath of support. Identify the major Informational Systems that support each organisational level. Literature Review: 1) Information: Any raw data that is organized and verified to be accurate and timely for any purpose and presented within a context that gave it meaning and relevance and it leads to increase in understanding and decrease uncertainty. 1.1) Information System: When people utilize information or organizations by using technologies gather, process, store, use and disseminate information uses. Information System (IS) is a system that gave the information necessary for managers and management to run an organization effectively. IS and the information it gives are essential components of reasonable business decisions. Information industries help in providing growth in most economies of business. Every organization achieved it success on the bases of there information system. Due to change in technology and globalization of markets many industries are now trying to develop and improve there information system because they emphasizes on there information. Information system is not just a computer system but information and communication technology play a vital role in helping the organization to fulfill it needs. Information system refers to the system of people, data and activities both computer-based and manual that effectively gathers, process store and disseminate organization information. It is important to maintain the information system in organization and adopt new approaches for improvement in the development, use and reviews of IS system with in the organization must be an ongoing process of both bank management and OCC examiners. Every IS have clearly defined framework of guidelines, procedures policies and standards for different organizations. It should be fallowed by any organization for the development of its system and also to maintain and use all information where it necessary. Information System is used and viewed by all Management Levels. It helps the organization and supports them in long term strategic goals and objectives. It helps in financial accounting systems that are used to maintained control on all financial record keeping activities. Every organization should designed there Information System to achieve the following goals. Improve communication among employees. Deliver all complex and important material through out the institution. Provide a system for recording and processing information. Reduce all expanses related to labor, material and other activities. Help in achieving organization strategic goals and objective and provide direction. Organization a) Customers b) Retailers c) Employers Technology Websites Internets Collaborative Planning softwareà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s Management a) Develop growth b) Strategy c) Monitor services d) Level and cost Information System a) Customize Products b) Interact with customer c) Exchange ideas and reports d) Coordinate production with sales Business Solutions Increase customer services Increase revenues Reduce cost Business Challenges Mature Industry Inefficient Process Information System provides help and facts for decision making which support and improves overall decision making process. Information System also improves job performance through out the organization. It also provides help to all level of management. It gives the data and information and helps the management in making strategic decisions. It helps the organization in all activities to monitor, control and distributes information to all employees, customers. Effective Information system gives up-to-date presentation formats and time frames required by all management levels. Information System can be maintained manual or automated or both combine. Effective deliveries of an organization products and services are supported by Information system. These systems be accessible and used at all level of management and organization. Information System is also helpful in over all risk management strategy. Information system also help the organization to keep control, measure, monitor, recognize and manages all the activates, risk and Limits. Risk Management has four key elements. Policies or practices. Operational Processes Staff Management. Feed back Devices. Information system should be both operational and informational. So that management can use it to measure performance, manage resources and help organization with regulatory requirements. Information system also used to provide effective risk control which helps to maintain proper management and minimize risk through the organization. it also help the organization to make new policies help in practicing these policies provide up to date information in all operational process also help in making assignments duties and responsibilities for staff and managers. Data used in organization come from many finical records and transaction systems and proper control procedures must be setup to help in gathering relevant data and also help in correction of data. Information system organized and the data is gathered from different equipments i.e mainframes, microcomputer, minicomputer. Processing control help the system on smaller computer and pre defined and also effective as those commonly found on the larger mainframe system. The OCC fully endorses and supports placing these principles in writing to improve effective communications throughout the organization. Improving Weakness of Information System Risk. 1.2) Key Elements of Information System: To work properly and effectively the five key elements should be checked and functioned are: time lines, accuracy, consistency, completeness and relevance. Timeliness: Information system should be capable of providing distributing information to right users. Information system is capable of providing short and long reports of information. Information system also helps in processing, collecting and producing results from data. It also help in making correction, adjustments in errors found in data. Accuracy: Information System provides control checks in editing balancing. All the external internal audit programs done by organization provides the adequacy of internal control. Consistency: All the data should be process consistently and uniformly. Variations in data be collected and reported to information analyst. Because data collection and reporting process change over time management must establish procedures to allow systems changes. All the procedures should be documented, willdefind and clearly communicated to all related employees and should include proper effective monitoring system. Completeness: All the data and information provided by information system to management level should be complete and checked by all accepts. Relevance: All the information must be relevant to organization objectives and strategies. Information that is unnecessary or too detailed should be sorted out. 2) Information System as Bridge: Information system provides us bridge between management information science and computer science. Computer science provides information technology software. Information system brings all human activities and information technology to one place and it provides communication link between these two worlds. The system well serves the people and organization by using all the IT capabilities. To run this system properly it requires specialist people having knowledge of both computer world and organization and the people who using these systems. All the system should work with in the contexts of organization, management and the information society. To build a bridge like this between the information organization and people we need skills in programming, computer architecture and networks. Also we need techniques for information system analysis design by using all advance data base design methods and related professional and legal knowledge. 3) Level Types of Information Systems: Every business has different information system needs. It also depends upon different levels in organization. Three key information systems are Transaction processing system Management Information System Decision Support Systems The importance of information is different on different level of management. The information can categorise as strategic, managerial and operational information. The information used by senior management for decision making is Strategic information. The lower levels in the organization do not require this information. The information systems that gave information for decision is known as Decision Support Systems. Figure Relation of information systems to levels of organization The information used by the middle line of management is known as managerial information. The information used by middle line management help in making short-term decisions and plans for the organization. Information likes sales analysis or production details for the whole year. Information system is now days the necessity of all organizations to fulfil all the managerial activates. Due to its Importance, most of the big organizations have separate IS departments. Whose duty is to watch the use and proper functioning of the system. For daily and short term information we need third level of information. It help the operational level to carry out day to day operational activates. it also help in attendance record of employees. Information System gives information for processing transaction of the organization, that type of information system is known as Transaction Processing System or Data Processing System. For example information provided by such systems are processing of orders, evaluating overdue purchaser orders of marketing and sales departments.. 3. a) Transaction Processing Systems: Transaction Processing System the organization in there business transaction process. Any activity of the organizations can be called Transaction. Every organization has different transaction. For example, take a airline reservation system. Booking, cancelling, etc are all transactions. However, there are some transactions, which are common to almost all organizations. These include calculation, storage and retrieval. Speed and accuracy, can be achieved by TPS and can be programmed to follow routines functions of the organization. 3. b) Information System: Management takes help in solving problems and making decisions from it. They use transaction processing information and all relevant information also. It process queries as quickly as they arrive. An important element of IS is database. A database is a collection of data items that can be processed through application programs and available to many users. 3. c) Decision Support System: These systems help senior management in making long term decisions. With the help of this systems we can handle unstructured or semi structured both decisions. A decision will be unstructured if there are no clear procedures for making the decision. A decision support system must be easy to operate and also it should be flexible for all users so that they can produce reports by giving data and it should be format according to the situation explained. 4) Level of Management System: 4 .a) Operational-level Management System: This system helps the operational managers by keeping track of the all necessary activities and transactions of the organization. This system is answerable for the routine questions. It provides help in sales, receipts, cash deposits, payroll, credit decisions, and flow of materials. 4 .b) Knowledge-level Management System: Support knowledge and data workers in an organisation. The reason of these systems is to help the organisation discover, organise and integrate new and existing knowledge in to the business, and to help control the flow of paperwork. These systems, especially in the form of collaboration tools, workstations, and office systems, are the fastest growing applications in business today. 4 .c) Management-level Systems: At this level it helps in monitoring, controlling, decision-making, and administrative activities of middle managers. We can get periodic reports rather then information on operation. it also helps in non-routine decision-making, focusing on less-structured decisions for which information requirements are not always clear. 4 .d) Strategic-level Management System: Help senior management how to keep control and tack actions on strategic issues and long-term trends, wither it in the organization or related to external environment. Main reason is to use organisational capability with the changes, and opportunities, occurring in the medium to long term in the external environment. An organisation must have operational, knowledge, management and strategic level systems for each functional area within the organisation. This would be based on the management model adopted by the organisation, so, while the most commonly-adopted systems structure would simply follow the standard functional model, structures reflecting bureaucratic, product and matrix models are also possible. As identified before, enterprise level information systems attempt to encompass the whole organisation in one system. Type of systems Executive support System (ESS) Strategic- Level System 5 years Sales trend forecasting 5 years Operation Plan 5 years Budget forecasting Profit Planning Man power Planning Management Information system (MIS) Decision Support System (DSS) Management Level System Sales Management Inventory control Annual Budgeting Capital investment Analysis Relocation analysis Salas region Analysis Production Scheduling Cost analysis Pricing/Profitability Analysis Contract cost Analysing Knowledge work system (KWS) Office Automation System (OAS) Knowledge Level System Engineering Workstation Graphic work station Managerial Workstation Word Processing Document Imaging Electronic Calendar Transaction processing System (TPS) Operation Level System Machine Control Security Trading Payroll Compensation Order Tracking Plant Scheduling Acc Payable Training Development Order Processing Material Movement Control Cash Management Acc Receivable Employee record Keeping Sales marketing Manufacturing Finance Accounting Human Resource Characteristic Of Information Processing System Type of System Information Inputs Processing Information Outputs Users ESS Aggregate data: Internal, external Graphics; simulations; interactive Projections; responses to queries Senior managers DSS Low Volume data or massive database optimised for data analysis; analytic models and data tools Interactive; simulations, analysis Special reports; decision analysis response to queries Professionals; staff Manager MIS Summary transaction data; high-volume data; simple models Routine reports; Simple models; low-level analysis Summary exception reports Middle managers KWS Design specifications Knowledge base Modelling; simulations Models; graphics Professionals Technical staff OAS Documents Schedules |Document management; Scheduling Communication Documents; schedules; mails Clerical Workers TPS Transactions events Sorting; Listing; Merging; Updating Detailed reports; lists; summaries Operations personnel supervisors 5) Working of Management Systems 5.a) Operational-level Management Transaction-Processing Systems: Basic business system Perform daily routine transactions necessary for business functions. All the tasks, resources and goals are highly structured at operational level. Generally, five functional categories are identified, as shown in the diagram. Type of TPS System Sales/Marketing System Manufacturing/Production Systems Finance/Accounting system Human Resource System Other Types(e.g. , University) Major Functions of System Sales Management Market research Promotion Pricing New Products Scheduling Purchasing Shipping/receiving Engineering Operations Budgeting General Ledger Billing Cost accounting Personal records Benefits Compensation Labour relations Training Admissions Grade records Course records Alumni Major application Systems Sales order information system Market research system Pricing system Materials resource Planning systems Purchase order Control Systems Engineering Systems Quality Control System General ledger Acc Receivables/Payable Budgeting Funds management systems Payroll Employee records Benefit system Career Path system Registration System, Student Transcript System, Curriculum Class control System, Alumni benefactor system 5 .b) Knowledge-level Management Office Automation Systems: Targeted at meeting the knowledge needs of data workers within the organisation Data workers tend to process rather than create information. Primarily involved in information use, manipulation or dissemination. Typical OAS handle and manage documents, scheduling and communication. Knowledge Work Systems: Targeted at meeting the knowledge needs of knowledge workers within the organisation In general, knowledge workers hold degree-level professional qualifications (e.g. engineers, scientists, lawyers), their jobs consist primarily in creating new information and knowledge 5 .c) Management-level Systems Management Information Systems: Typically these systems focus entirely on internal events, providing the information for short-term planning and decision making. MIS summarise and report on the basic operations of the organisation, dependent on the underlying TPS for their data. Transaction Processing System Order file Production Master File Accounting File Order processing System Material resource planning system Genera Ledger System Management Information System Manager MIS Files Sales Data Unit Product Cost |Data Product Change Data Expanses Data MIS Report 5 .d) Strategic-level Management Decision-Support Systems: As MIS, these serve the needs of the management level of the organisation Focus on helping managers make decisions that are semi-structured, unique, or rapidly changing, and not easily specified in advance Use internal information from TPS and MIS, but also information from external sources Must provide user-friendly, interactive tools. Fuel consumption cost file Port Expenses File Ship Charter Hire History Cost File Port distance Restriction File Ship File (e.g speed capacity) Analytical Model Data Base PC Graphics Reports Executive Support Information Systems: Serve the strategic level of the organisation It provides generalised computing and communications environment, rather than providing any fixed application or specific capability. Such systems are not designed to solve specific problems, but to tackle a changing array of problems It is structured to incorporate data about external events, such as new tax laws or competitors, and also draw summarised information from internal MIS and DSS These systems filter, compress, and track critical data, emphasising the reduction of time and effort required to obtain information useful to executive management It employ advanced graphics software to provide highly visual and easy-to-use representations of complex information and current trends, but they tend not to provide analytical models Knowledge System (KW|S OAS) Management System (MIS) Transaction Processing System (TPS) Management System (DSS) Executive Support System (ESS) Inter-relationships and inter-dependencies between IS types Success Story of one of organization (Air Asia) Using Information System Air Asia Airline Company that entered a formerly hunting market with great success. Ticket less travel Automation with IT Reduced costs Improved service Air Asia developed open skies software to automate ticket handling to Avoids travel agents and their fees Uses reservation agents who work from home using VoIP Encourages internet flight booking by customers Maintenance information system used to log airplane parts and time cycles for replacement Air Asia used innovative technique for routing airplanes Does not use hub and spokes method only point to point. Takes most profitable route between cities. Keeping flight manuals on laptop computers allows for paperless cockpits. Saves pre-flight time associated with calculating weight of plane (annual savings of 4800 hours). Information System Helps Air Asia offer Better Services. Safety First: Partnering with worldà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s most renowned maintenance providers and complying with the world airline operations. High Aircraft Utilization: Implementing the regions fastest turn around time at only 25 minutes, assuring lower costs and higher productivity. Low Fare, No Frills: Providing guests with the choice of customizing services without compromising on quality and services. Streamline operations: Making sure that processes are as simple as possible. Point-to-Point Network: Applying the point-to-point network keeps operations simple and cost low. 7) Conclusions: Every organization run on it strategies. And strategies make by management on the basis of the information they have. So I think if the organization have strong information system and it have up-to-date information then the strategies which they are going to make for future will be perfect and it will gave the organization competitive edge in market and on it competitors

Difficulties of Cost Control in Construction Industry

Difficulties of Cost Control in Construction Industry CHAPTER 1: INTRODUCTION 1.1 Problem Statement: In every industry, cost control is a must in order to make sure that a project or production can make maximum profit or to make sure that the budget of a project does not burst. Locally, the actual costs of development of a project will normally being higher than necessary. In order to have an effective cost control in construction industry, it is necessary for us to determine the difficulties of cost control and to identify the factors contribute to the cost control difficulties in a project in order to overcome the difficulties or to avoid those factors that may cause difficulties to cost control of a construction project during construction stage, thus to have an effective cost control for the construction project and complete the project within the budget or under budget. 1.2 Aim and Objective: The aim of this paper is to study the difficulties of cost control in construction industry during the construction stage. In order to achieve the study of aim, some objectives have been established as below: To ascertain the importance of applying cost control in local construction industry. To highlight the cost control difficulties in local construction firm during the construction stage. To investigate the factors contributing to cost control difficulties in local construction firm during construction stage. 1.3 Background: Cost control is a process that should be continued throughout the project life cycle of a project. In construction industry, cost control should be continued from the inception of the project until the completion of the project to ensure that the cost of the construction project is kept within the agreed cost limits. For cost control of construction industry, it can be divided into two major stages; the control of cost during design stages and the control of cost by construction firm right after the commencement of the construction work of the construction project. According to Ashworth (2004), cost and schedule control is one of the most important functions of management once a project is identified. Cost control is paramount during the feasibility and design phases because a projects feasibility is normally tied to the cost of a project. Besides that, cost control during the construction phase can be paramount for large projects due to their potentially high construction cost and profiles. As mentioned by Nunnally (1998), the measuring and collecting the cost record of a project and the work progress are included in the cost control of a project. Besides that, the comparison of actual progress with the planning is also involved. The main purpose of cost control of a project is to gain maximum profit within the designated period and satisfactory quality of work. According to Pilcher (1994), he defined cost control as the regulation, by executive action, of the cost of carrying out the various activities which go to make up a project or a contract. The regulation (for cost control) designed for a specific industry will need a major modification if it is used in other industry because of the different nature or the business. He also said that for all construction projects, costs must be controlled and monitored from all the parties involved including client, consultants and contractor. This study will mainly focus on the difficulties of applying cost control during construction stage. That is because of in my opinion, what is needed in a cost control methodology is to proactively seeks out potential difficulties and factors contributed to those difficulties and provides project managers with as much warning as possible before their occurrence. This study provides a milestone for construction firm in the factors that likely to causes the difficulty in cost control. 1.4 Scope of Study: Cost Control is commonly used in every industry and almost in every project, the study will only focused on cost control difficulties of construction industry or a construction project during the construction stage. This study will ascertain the importance and the use of applying cost control in local construction industry. Besides that, the difficulties in applying cost control during construction stage also falls within the scope of this study. After highlighting the difficulties theoretically, an interview will be conducted with experienced Contract Executive or Contact Manager or Project Manager to determine the difficulties of cost control during construction stage practically. Finally, after understanding the difficulties of cost control during construction stage, the factors contributing to cost control difficulties during construction stage will also be highlighted. 1.5 Research Methodology The study is conducting in three stages. First stage is literature review. The literature review will started with the introduction to cost control. In the introduction to cost control, the definition of cost control will be reviewed and the literature will also review the importance of cost control in construction industry. Moreover, the literature also will review the difficulties of applying cost control during construction stage. Furthermore, articles and notes about the cost control difficulties will be searched. All literature will be review deeply by referring the previous research paper, article, journal and etc. These sources can all be found in Google, Emerald, Yahoo and from the library of College Tunku Abdul Rahman. At second stage, an interview will be conducted with experienced Contract Executive or Contracts Manager or Project Manager face-to-face to obtain the information about their current practices in cost control system of their company, the practical difficulties and factors contributing to the difficulties in cost control will be identified by the Contract Executive or Contract Manager or Project Manager. The chosen Contract Executive or Contract Manager or Project Manager must be experienced enough in cost management of construction industry and willing to provide valuable information regarding the research topic. Last stage is writing up the content of the dissertation and the information obtained during the interview will be analyse and compare with the theoretical information. Conclusion of this study should be the result of the comparison between the practical and theoretical difficulties during cost control of construction stage faced by the contractor. 1.6 Benefits of Study By conducting this study, it allows me to have a rough idea on the Cost Control system. Completing this study also gives me a better understanding regarding the purposes and importance of Cost Control. Besides that, it also provides me with better perception regarding the difficulties during the application of Cost Control during construction stage. Furthermore, the interview conducted with the experienced Personnel will definitely allow me to review the current practices of Cost Control in the construction industry. 1.7 Dissertation Organisation Chapter 1: Introduction Chapter 2: Cost Control Chapter 3: Research Design and Methodology Chapter 4: Analysis of the Result and Discussion Chapter 5: Conclusion CHAPTER 2: COST CONTROL 2.1 Introduction to Cost Control 2.1.1 Definition The term Cost is defined by Dictionary.com (an application of iPod Touch) as the price paid to acquire, produce, accomplish, or maintain anything. Whereas the term Control in Dictionary.com, it defines Control as the act or power of controlling; regulation; domination or command. For construction industry, the term Cost should be referred to the amount paid by a party; either a person or a corporation, to another party; normally a contractor, either to construct a complete building or a particular section of a building. And for the term Control in construction industry, it should be referred to an official mean of regulation or restraint in the management of the project. According to Marchesan and Formoso (n. d.), the combination of the term Cost and Control should be defined as the application of procedures that result in early illumination of potential changes in resource requirements and in the timely surveillance of the usage of funds to permit action that will keep cost within a predetermined range. While for the other definition of Cost Control, we can refer to Ashworth (2004), he defined Cost Control as a process of planning, checking and verifying project expenditure based on established standards and taking the necessary corrective action to ensure that the total project expenditure is approximately to the estimated budget. While according to Ritz (1994), he stated that Cost Control gives a different meaning to a different people. Some people engage it with engineering costs; some states that it is a cost report, value engineering, cost management etc. Cost Control involves all the activities above in different time by different parties and all the parties involved in a project will have their own responsibilities and roles in cost minimization and Cost Control. Other than that, Royal Institute of Chartered Surveyor Committee defined Cost Control as the total proves which ensures that the contract sum is within the clients approved budget or cost limit. Further definition can refer to Mueller (1986), he stated that the cost control is the ability to influence the final cost of project positively with modifying negative performance trends. In addition, Kwayke (1997) defined Cost Control as a process where construction cost of a project is manage with the best method and systematic approach in order that the contractor would not suffer losses during the execution of the activities of the project and the cost of construction of a project would not be over-estimated by the developer. By concluding all the definition mentioned above, Cost Control in construction industry should be the application of procedures or regulation during the construction project life cycle to plan, check and verify the construction project expenditure based on the established procedures or regulations to ensure that the construction project expenditure is within the project budget, within given timeframe with quality specified and also to ensure that resources are used to best advantages or maximization of the profit for the construction project. 2.1.2 Statement of Facts in Cost Control As stated by Roger (2000), he said that Cost Control is a broad set of cost accounting methods and management techniques with the common goal of improving business cost-efficiency by reducing costs, or at least restricting their rate of growth. Cost Control is used in business to monitor, evaluate and the most important to increase the efficiency of specific areas within their operations. As for Nunnally (1998), he stated that cost control of a project involves measuring and collecting cost record and work progress of a project. Besides that, comparison of actual progress with the planning is also involved. He also mentioned that the main objective of Cost Control of a project is to maximize profit within the given timeframe and to achieve satisfactory quality of work. If the application of cost control is by a systematic procedure, it will result in ease of collection of important cost data in estimating and controlling of the cost of the coming projects in future. Kwakye (1997) states the main purpose in cost controlling for a construction project should be active controlling of final costs for owner, and not just to record and registering the payment. Cost Control Reports must be prepared for efficient Cost Control. The Cost Control Report is based on the cost data collected, it is important to project the costs in to future and to estimate or re-estimate the cost of the work yet to be completed. Amount of detail and the time interval between Cost Control Reports must be considered and the time interval is varied depends on the level of management for which they prepared the Reports for. For example, Cost Report should be received by site manager on weekly basis. Since the commencement of the contract, any new information must be taken into account and makes a suitable reporting system is important for a cost control system. According to Koh (2005), if an adequate reporting system is used, the estimator would become more reluctant in the future to use cost data that have been fed back from the site and granting the estimator some time to determine sufficient detail about the data and conditions they acquired. In addition, Koh (2005) also suggested two areas to check whether the Cost Control reporting system is efficient or not. First is to check on the profitability of the work and second would be check on efficiency carried out against the standard of the output rates that were used by the estimator in compiling the estimate. 2.1.3 The Purposes and Importance of Cost Control One of the principal objectives of Cost Control for most project or organisation is the achievement of minimum cost for a particular project. Achievement of minimum cost is to maximize the profit and profit in simple terms is what is left after all the income accruing to the enterprise has been received and all of the costs or outgoings have been paid. For all construction projects, cost must be monitored and controlled, whether from the point of view of owner, designer or a contractor. It helps to distinguish the problems arise and understanding of the problems which occur in each phase of industry enables better co-ordination of the activities of the many participants in a single project (Pilcher, 1994). Besides that, according to Pilcher (1994), the importance of Cost Control is due largely to the following: To provide the relevant feedback, carefully qualified in detail by all the conditions under which the work has been carried out, to the estimator who is responsible for establishing the standards both historical and future; To provide the client with a value-for-money project. Example: To give the building client a building which is soundly constructed, of satisfactory appearance and well suited to perform the functions for which it is required, combined with economical construction layout. To provide data to assist in the valuation of those variations that will arise during the course of the work; To provide immediate warning of uneconomic operations, both in the long and the short term; To limit the clients expenditure to within the amount agreed. In simple terms this means that the tender sum and final account should approximately equate with the budget estimate. To achieve balanced design expenditure between the various elements of the buildings. Thus, the sums allocated to cladding, insulation, finishing, services and other elements of the building will be properly related to the class of building and to each other. To summarize progress. To promote cost consciousness; The contractor may ascertain the maximum income that they may receive according to the contract sum, then ascertain the initial cost expenditure, or provide detailed brief to his own construction team who will then determine the actual cost that may involved. But most schemes are a combination of these two extremes. There has in recent years been a great need for an understanding of construction economics and Cost Control, particularly during the construction stage of projects. As stated by Ashworth (2004), Cost Control also should serve the following purposes: The clients requirements today are more complex, a more effective system of control is therefore desirable during the construction stage up to the completion of final account and thereafter during costs-in-use. There has been a trend towards modern designs and new techniques, materials and methods of construction. The designer is able to choose from a far wider range of products and this has produced variety in construction. The traditional methods of estimating are unable to cope in these circumstances to achieve value for money and more balanced designs resulting that in the end the contractor may need to bear for extra cost due to the faulty design. Contractors profit margins have in real terms been reduced considerably during the past decade. This has resulted in their greater cost-consciousness in an attempt to redress possible losses. There is a general trend towards greater cost-effectiveness, and thus a need to examine construction costs not solely in the context of initial costs but in terms of whole-life costs, or total-cost appraisal. World recession has generally produced a shortage of funds for capital purposes and construction in general. This has been coupled with high inflation and interest charges, resulting in the costs of construction soaring to high levels. Although the relative costs compared with other commodities may be similar, the apparent high costs have resulted in greater caution, particularly on the part of contractor. 2.2 Difficulties of Applying Cost Control Procedures At present, serious problems exist in the cost control and management of construction project. For example, for some construction project, the design is earlier than the study of feasibility, which makes the later turn into useless. In bidding, some construction companies perform illegally, which makes the bidding fail to control project cost well. The popularization of assigned subcontracts and various subcontracts serve as potential threats for project quality. The delay for project payment, especially for workers wages, is serious. Some projects can not manage the changes of designs, construction companies fail to follow the designs completely, which may lead to larger costs for construction. Some construction companies emphasize on the control of quality and period but fail to control the cost. All these activities make the cost of construction project out of control in our country, which is harmful for the sustainable and healthy development of construction industry. Gao (2009) has stated that the following is the difficulties in Cost Control of construction stage. 2.2.1 Fail to Estimate the Project Exactly The project estimation is performed at the very beginning, namely in the study of feasibility. Present compilation of study of feasibility is lack of details. No effective items to control the number of project. The estimation has a lower preciseness. Besides, the study of feasibility has no necessary investigation. Some potential geological disasters can not be identified effectively, which leads to the rise of costs. Although some companies make details for implement, the effect is poor. In order to establish the project, some companies may reduce the number of project and decrease costs. 2.2.2 The Compilation of Project Budget Has Poor Reliability At the stage of design, the investigation is far from sufficient. Some fundamental materials for design are inexact. As a result, the design may be irrational and will be changed significantly in construction, which causes the poor reliability of budget. 2.2.3 Working Drawing Budget is Unpractical At the working drawing design stage, compile the project budget according to the design. The working drawing budget is to calculate the cost of design. The rationality of working drawing budget is about how to organize the construction and how to reach the design requirements by what kinds of methods, plus how to arrange the construction period, and how to manage workers and machines under different seasons, according to scientific designs. All these tasks are supposed to be arranged by construction companies. For design companies, to compile the budget is unpractical. 2.2.4 Do not Follow Basic Construction Procedures and Can not Control Costs For some projects, time is urgent. Therefore, the design is maybe imperfect. And the construction does not follow the basic procedures strictly. Sometimes, the study of feasibility turns into useless papers. As a result, the estimation and the budget can not control the project cost effectively. 2.2.5 Contract is not Managed Well Some developers neglect to manage contracts. They do not follow the terms written in contracts strictly. Besides, some developers can not calculate the cost of project quantities correctly. They are incapable of managing external workers effectively. 2.2.6 Irregular Management and Many Changes for Project Developers can not design properly and have to change the management methods. Or, the execution is weak. They can change the design as will. Then, the scale of project is increasing and the cost is rising. 2.2.7 Rise of Cost Due to Unreasonable Financing Structure At present, the funds for construction project in Malaysia are mainly from domestic loans, foreign funds, self-collected by construction companies, and other sources. Although financing ways are few and some are immature, limits are more. Sometimes, funds can not arrive in time. In order to insure the process of project, the construction companies have to apply loans from banks. Therefore, a large proportion of construction funds are from banks as loans. And the credit period is long and can not match with investment return. The characteristics of construction industry determine the lagged-behind investment return. One financing channel increases risks and costs, which leads to the accumulation of loan balance in banks, increasing construction costs and pressures for later in operation. 2.2.8 System is imperfect One of the factors that cause overspending is the management. Main items that cause overspending include management fees, compensation fees for removing, and supervision. Main reasons include: Lack of a perfect cost control system and can not manage and control the cost systematically, which makes it hard to identify the out-of-control of cost in time. Lack the idea of cost control and the constraint mechanism. Project managers are always focusing on quality and construction period, but not cost control. The absence of system makes the expenditure more irregular. No integrated standards for management fee are effective. Workers are more than necessary in construction companies. 2.3 Factors Contributing to the Difficulties of Cost Control 2.3.1 Control of labour cost The control of labour cost frequently causing much troubles to Cost Control because of the productivity of labour is variable and causing the difficulty to the estimating stage. Although experienced estimators have their own database of historic cost data, but these data can only ever be regarded as an average for a given trade and does not make allowance for particular circumstances. A prediction of how labour will perform in the future on a particular project must be incorporated into an estimate of cost. Site management is greatly affecting the labour efficiency and their productivity. It is important that all labour resources, either self-employed or employed as labour and materials sub-contractors, are fully supervised and co-ordinated, to ensure that the labour resources are efficiently organized and making best used of them. If the labour resources are not well organized, it may reduce the productivity of the labour and making cost of labour to be higher hence causing difficulties to Cost Control because the labour cost is different with the estimated cost. 2.3.2 Site Condition After the design of engineer, quantity surveyor will normally estimate the amount of the designed work, but due to the site condition is unpredictable, it cause the cost estimation is rather difficult. In many of the construction project, there are majority of unforeseen and differing site condition are found in subsurface work such as tunneling and foundation work, such situation can also arise in rehabilitation and restoration work, retrofitting to meet revised seismic codes and projects that improve energy efficiency. Where ground water level is close to the surface of the site, closely pumping operation may be needed throughout the substructure work. This unforeseen situation will increase the construction cost. A wet site may also involve raising temporary sheds and offices on brick bases and more costly temporary work. The cost of excavation in rock is much more expensive than working in normal ground. This type of strata will need to be examined and to determine what type of support is needed to the sides of excavation. All this will contribute to the difficulty in cost control when the construction method is carried out wrongly. 2.3.3 Location of site The cost of building on a site in a city could be much expensive than construct a similar building on a provincial site. This is due to higher wages, materials and other costs. For instance, a project on a remote location site may involve long lengths of temporary access road and of temporary power cable for electricity suppliers and increased costs of transporting operatives and materials to the site. A site in a congested central area of a city will give rise to major problem in delivery and storage of materials and equipment, protection of adjoining building, construction method to carry out substructure work, restriction on the use of mechanical plant and to the protection of the public. Overcoming these problem involve considerable additional cost and all these will considerably contribute to the difficulty in cost control. 2.3.4 Materials In some of the guides the cost of materials can be easily identified, and adjustment to the measured rate is therefore a simple process. Material prices often depend on contractor, location, quantity and discount and hence making the estimation process to be rather difficult. The materials wastage of site will also contribute to this because there will be difference between the actual amount used and the estimated amount used. 2.3.5 Overheads and profit In most case, during the estimation process, the amount of overheads and profit will normally just referred back to previous projects. But the amounts included in the published rates vary considerably. In some guides nothing has been allowed, and these expect the user to add an appropriate amount. In other information, up to 25% has been included on margins of 3%. In addition, overhead costs have generally been reduced in order to keep costs to an absolute minimum, while seeking to maintain the required workload. Builders will therefore need to access their own percentage and adjust this according to that quoted. Surveyors, in attempting to predict tender values, will also need to take this into account in their approximate estimate. 2.4 Chapter Summary Cost Control in construction industry should be the application of procedures or regulation during the construction project life cycle to plan, check and verify the construction project expenditure based on the established procedures or regulations to ensure that the construction project expenditure is within the project budget, within given timeframe with quality specified and also to ensure that resources are used to best advantages or maximization of the profit for the construction project. Cost Control need to serves the purposes like to provide the relevant feedback, to provide the client with a value-for-money project, to provide data to assist in the valuation, to provide immediate warning of uneconomic operations, to limit the clients expenditure, to achieve balanced design expenditure, to summarize progress and to promote cost consciousness. Difficulties of Cost Control during construction stage are failed to estimate the project exactly, the compilation of project budget has poor reliability, working drawing budget is unpractical, do not follow basic construction procedures and can not control costs, contract is not managed well, irregular management and many changes for project, rise of cost due to unreasonable financing structure and system is imperfect. Factors that contribute to those difficulties are control of labour cost, site Condition, location of site, materials and overheads and profit. It is necessary for management to study the difficulties involved and the factors contributing to these difficulties so that they will design a cost control system that more efficient for a particular project. Chapter 3: Research design and methodology 3.1 Introduction In this chapter, the research methodology used in this research will be discussed. The method of conducting research to achieve the aim and objectives will be reviewed to ensure that all the information obtained is reliable. Among two research strategies that suggested by Naoum (2007), which is Quantitative Research and Qualitative Research, Qualitative Research will be used as the research strategy for this dissertation. The reason to use Qualitative Research is because of it allows the topic being studied to give much valuable answers to questions put to them. Structured interview will be conducted with at least five (5) contractors so that sufficient information can be obtained to proceed with the field work. The interview will be carried out face to face with the interviewee, however, it also may be carried out over the telephone or any other methods like email or webcam. The targeted personnel to be interviewed are contract executive, contract manager or the project manager of the company. Since it is a structured interview, the questions to be asked are presented in the same order and with the same wording to all interviewees. The main objectives of this interview section are to clearly understand the ability of the contractor in cost control and the difficulties that they are dealing with during cost control of project they undertake. While the other objectives are to ascertain the importance of cost control during construction stage with the contractor and last but not least to investigate the factors that contribute to difficulties that they are dealing with during cost control. The interviewing session has the advantage of providing experience or opinion based information for the dissertation. Questions prepared are open- ended questions for the interview so that in-depth information can be collected. The questions are set by referring to the aim and objectives, data obtained will be of the opinions and perception as individual interviewee knowledge and experience of research area. 3.2 Questionnaire Construction The principles that are followed in constructing the questionnaire for the research are as shown in Figures 3.1 below: Research objectives + Literature review Questions Lead to Lead to Issues, topics and ideas Principles on how research objectives are translated into specific questions. (Naoum, 2007) Before constructing the questionnaire, the potential ideas which can be developed into a questionnaire at a later stage are listed out. In order to have the ideas to develop into questionnaire, the research proposal and the literature review is reviewed and all possible questions which are related to the research is written down to obtained the first thought questions. Those listed out question are all based on the aim and objectives of the research. After the first thought questions have been identified, the final questionnaire is constructed by introducing a number of section or categories for the questionnaire and the first thought questions are fitted into these sections. The research questionnaire was divided into two sections in which the first section is to obtain the back ground and information of the interviewees as well as their organization. This is to ensur