Sunday, May 24, 2020
Informative Speech On Symptoms, Diagnosis, And Treatment...
Planning for the Informative Speech with Analysis Speech Topic: To inform my audience of the symptoms, diagnosis, and treatment of Generalized anxiety disorder Rhetorical Purpose: To inform my audience about . . . Their own mental profile and how to recognize the symptoms so they can help themselves and others around them Audience Analysis: (Refer to chapter on Audience Analysis) (RU Core Goal: a) Summarize Audience demographics, prior exposure/knowledge, common ground/interest, disposition/attitude, and situational characteristics. Recognizing that the majority of my audience is interested in their health and wellness as noted in the Audience Analysis poll, I believe that I can make this speech relevant and interesting byâ⬠¦show more contentâ⬠¦I will make it more general and not get into the depths of the causes and specifics of anxiety, but rather reduce the information and make sure that the message is understood by reiterating in my thesis and ending statement. Types of Supporting Materials: (refer to chapter on Supporting Materials) What types of supporting materials do you plan to include? (e.g., examples, definitions, testimony, statistics, narratives, analogies) I will include definitions and statistics of anxiety in my paper. Types of Research Sources: (RU Core Goal: v) What types of research sources (e.g., primary, secondary, and/or tertiary) do you plan to use to support the thesis statement and main points? Please explain. Note: 5 credible and relevant sources are required including at least 1 source from a Rutgers University Libraries periodical database. I plan on using primary and secondary research sources to make my main points along with Rutgers Library sources. Research Tools Utilized: (refer to Comm380 research guide - http://libguides.rutgers.edu/ publicspeaking) (RU Core Goal: y) What tools did you use during your research to find your sources? (e.g. Google Scholar, Library Databases, Book or Journal resources, etc.) I used Google scholar mainly but also used Rutgers Library database and spoke to a librarian regarding my topic.Show MoreRelatedAnxiety Attack816 Words à |à 4 PagesINFORMATIVE SPEECH OUTINE Anxiety Attack Breakdown By Julie Vang Attention Getter: Weââ¬â¢ve all had nervous breakdown or feel self-conscious on some occasions, like me now while giving this speech. Thesis Statement: The impact of an Anxiety Disorder is very serious. Preview of Main Points: I will tell you more in depth about anxiety disorders, the 6 main types of anxiety disorders and their symptoms and my personal experience with an anxiety disorder. Now I will begin by sharing: Read MoreCase Assessment1307 Words à |à 6 Pagesoriented to person, place, and time. The client made every effort to be open and honest. Furthermore, she maintained a cooperative attitude toward the examiner. Her mood and affect were depressed and anxious. Speech was coherent and relevant. There were no signs of a formal thought disorder as observed. Memory was intact as observed. Insight was estimated as fair to good. Problem List 1. Feeling angry, resentful, anxious â⬠¢Include score on BAI at intake â⬠¢Thoughts -ââ¬Å"She knew we wereRead MoreOcd - Symptoms, Causes, Treatment131367 Words à |à 526 PagesA. Clark. p. cm. Includes bibliographical references and index. ISBN-10: 1-57230-963-6 ISBN-13: 978-1-57230-963-0 (hardcover: alk. paper) ISBN-10: 1-59385-375-0 ISBN-13: 978-1-59385-375-4 (paperback) 1. Cognitive therapy. 2. Obsessiveââ¬âcompulsive disorder. I. Title. RC489.C63C57 2004 616.85â⬠²2270651ââ¬âdc22 2003020283 To my parents, Albert and Ardith, for their support and encouragement About the Author About the Author David A. Clark, PhD, is a professor in the Department of PsychologyRead More_x000C_Introduction to Statistics and Data Analysis355457 Words à |à 1422 PagesParagraph 575 Graphing Calculator Explorations 580 11 Comparing Two Populations or Treatments 583 11.1 Inferences Concerning the Difference Between Two Population or Treatment Means Using Independent Samples 583 11.2 Inferences Concerning the Difference Between Two Population or Treatment Means Using Paired Samples 606 11.3 Large Sample Inferences Concerning a Difference Between Two Population or Treatment Proportions 619 11.4 Interpreting and Communicating the Results of Statistical AnalysesRead MoreOrganisational Theory230255 Words à |à 922 PagesRealist Subjectivist Subjectivist . Chapter summaries 45 Chapter summaries Chapter 2: Modernist organization theory: back to the future? Underpinning modernism is the notion of the ââ¬Ëordered worldââ¬â¢, the notion that chaos and disorder can be managed through human will and intent. In organization theory, this suggests the development of systems, bureaucracies and approaches to management that enable the creation of order in an environment that is fundamentally disordered. FundamentalRead MoreDeveloping Management Skills404131 Words à |à 1617 PagesProviding Feedback 516 International Caveats 517 SKILL ANALYSIS 519 Cases Involving Building Effective Teams 519 The Tallahassee Democratââ¬â¢s ELITE Team 519 The Cash Register Incident 521 SKILL PRACTICE 523 Exercises in Building Effective Teams 523 Team Diagnosis and Team Development Exercise 523 Winning the War on Talent 524 Team Performance Exercise 527 SKILL APPLICATION 529 Activities for Building Effective Teams 529 Suggested Assignments 529 Application Plan and Evaluation 530 xiv CONTENTS SCORINGRead MoreContemporary Issues in Management Accounting211377 Words à |à 846 Pageslearn about the agentââ¬â¢s action choiceââ¬âhe knows what it is with certainty. Instead, the principal is committing to incur the variance investigation cost in order to mitigate the hidden action problem by basing the agentââ¬â¢s contract on an additional informative, but costly, signal y. What does the optimal variance investigation policy for this problem look like? For a large class of problems, the optimal variance investigation policy will be either of two forms depending on the risk-aversion of the agent:
Wednesday, May 13, 2020
Corporate Finance Cost of Capital - 4513 Words
Chapter 10 The Cost of Capital LEARNING OBJECTIVES After reading this chapter, students should be able to: â⬠¢ Explain what is meant by a firmââ¬â¢s weighted average cost of capital. â⬠¢ Define and calculate the component costs of debt and preferred stock. â⬠¢ Explain why retained earnings are not free and use three approaches to estimate the component cost of retained earnings. â⬠¢ Briefly explain why the cost of new equity is higher than the cost of retained earnings, calculate the cost of new equity, and calculate the retained earnings breakpoint--which is the point where new equity would have to be issued. â⬠¢ Briefly explain the two alternative approaches that can be used to account for flotation costs. â⬠¢ Calculateâ⬠¦show more contentâ⬠¦+ + + 10-2 Beta (market) risk refers to the projectââ¬â¢s effect on the corporate beta coefficient. Within-firm (corporate) risk refers to the projectââ¬â¢s effect on the stability of the firmââ¬â¢s earnings. Stand-alone risk refers to the inherent riskiness of the projectââ¬â¢s expected returns when viewed alone. Theoretically, beta (market) risk is the most relevant measure because of its effect on stock prices. [pic] 10-3 The cost of capital for average-risk projects would be the firmââ¬â¢s cost of capital, 10 percent. A somewhat higher cost would be used for more risky projects, and a lower cost would be used for less risky ones. For example, we might use 12 percent for more risky projects and 9 percent for less risky projects. These choices are arbitrary. 10-4 Each firm has an optimal capital structure, defined as that mix of debt, preferred, and common equity that causes its stock price to be maximized. A value-maximizing firm will determine its optimal capital structure, use it as a target, and then raise new capital in a manner designed to keep the actual capital structure on target over time. The target proportions of debt, preferred stock, and common equity, along with the costs of those components, are used to calculate the firmââ¬â¢s weighted average cost of capital, WACC. The weights could be based either on the accounting values shown on the firmââ¬â¢s balance sheet (book values) or on the market values of the differentShow MoreRelatedCritique on Mm Theory1159 Words à |à 5 Pageseconomist Franco Modigliani and Merton H. Miller published The Cost of Capital, Corporation Finance and the Theory of Investment (Hereafter MM theory); a paper presented the initial MM theory, which states that under a certain market price p rocess, in the absence of taxes, bankruptcy costs, and asymmetric information, and in an efficient market, the value of a firm is unaffected by how that firm is financed. It does not matter if the firm s capital is raised by issuing stock or selling debt. It does notRead MoreArticles Relating to Capital Structure-Essay1658 Words à |à 7 PagesContents :- Introduction on Capital Structureâ⬠¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..5 Summary and Evaluation of Articlesâ⬠¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦6 Conclusionâ⬠¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦..8 References/Bibliographyâ⬠¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦.9 ââ¬Æ' Introduction On Capital Structure :- In the field of finance capital structure means a way an organization or firms finances their assets by the way of some mix and match of Equity, Debt or Hybrid Securities. The modern thinking on capital structure is based on the Modigliani-Miller theorem given by Franco ModiglianiRead MoreWhy Do Firms Choose Their Capital Structure?1623 Words à |à 7 Pageswondering about which securities to acquire and how to finance those investments: with equity, debt or a combination of both (Myers, 2001). The study of capital structure tries to clarify this variety of securities and financing opportunities. In accounting terms, this decision is situated on the right-hand side of the balance sheet (Myers, 2001). In his Capital Structure Puzzle article, Myers (1984) poses the question ââ¬Å"How do firms choose their capital structure?â⬠. But even today, there is no right solutionRead MoreFinancial Capital Structure Essays1549 Words à |à 7 PagesContents : Introduction on Capital Structure Summary and Evaluation of Articles Conclusion References/Bibliography Introduction On Capital Structure :- In the field of finance capital structure means a way an organization or firms finances their assets by the way of some mix and match of Equity, Debt or Hybrid Securities. The modern thinking on capital structure is based on the Modigliani-Miller theorem given by Franco Modigliani and Merton Miller. The theorem suggests that in a perfectRead MoreCapital Asset Pricing Model ( Capm )1310 Words à |à 6 Pagesprojects to be invested in or finance in to increase the value of the company. However, to increase the value of the company, firm need to choose the worth pursuing project. In this case, firm need to evaluate the projects which the evaluation of a project can be done by cash flow method. The paper depicts how weight average of cost capital is used as a source of a discount rates for capital budgeting. In this paper, the discount rate in the weight average of cost capital (WACC) will be used in theRead MoreHill Country638 Words à |à 3 Pagesquality products in its industry. It has unique capital structure with zero debt and large cash balance corresponding to its conservative operation strategy and corporate culture and philosophy. Whether to change to a more aggressive capital strategy and what is the optimal level of debt-to-capital ratio for Hill Country is the key issue in this case. * Hill Countryââ¬â¢s operation strategy and its corporate culture The company commits to operating and cost efficiency with high quality products andRead MoreSyllabus: Corporate Finance and Business Journal/newspaper Article1123 Words à |à 5 PagesBUSI K4003 Corporate Finance Syllabus Summer 2012, (Summer Q) Instructor: Brendan Mallee bm2115@columbia.edu Class Time/Location: July 2nd ââ¬â August 8th MW 6:10-9:30pm / Hamilton Hall 516 Course Description: This course examines important issues in corporate finance from the perspective of financial managers who are responsible for making significant investment and financing decisions. The course is designed to develop critical corporate finance skills including: financial statementRead MoreCapital Structure Of A Firm1670 Words à |à 7 PagesThe capital structure of a firm describes the way in which a firm raised capital needed to establish and expand its business activities. It is a mixture of various types of equity and debt capital a firm maintained resulting from the firms financing decisions. In one way or another, business activity must be financed. Without finance to support their fixed assets and working capital requirements, business could not exist. In all aspects of capital investment decision, the capital structure decisionRead MoreUniversity of Phoenix Corporate Finance Syllabus1329 Words à |à 6 Pages| Syllabus School of Business FIN/571 Version 5 Corporate Finance | Copyright à © 2011, 2010, 2009, 2008 by University of Phoenix. All rights reserved. Course Description This course applies corporate finance concepts to make management decisions. Students learn methods to evaluate financial alternatives and create financial plans. Other topics include cash flows, business valuation, working capital, capital budgets, and long-term financing. Policies Faculty and students/learnersRead MoreWeighted Average Cost of Capital and Midland Energy1750 Words à |à 7 Pages$248.5 billion and operating income of $42.2 billion. The company has been in business for over 120 years and employed more than 80,000 individuals. Janet Mortensen, the senior vice president of project finance for Midland Energy Resources, has been asked to calculate the weighted average cost of capital (WACC) for the company as a whole, as well as each of its three divisions as part of an annual budgeting process. Midlandââ¬â¢s Three Divisions: Exploration Production Oil exploration and production (EP)
Wednesday, May 6, 2020
Recipe for a Perfect Party Free Essays
So you need to plan a party. Where do you begin? Party planning involves many steps and is essential to being a good host or hostess. Parties can vary from theme, to size, to guests attending. We will write a custom essay sample on Recipe for a Perfect Party or any similar topic only for you Order Now Three major steps in any perfect party is choosing a date, creating a menu, and setting the atmosphere. Choosing a date is the first step in planning a party. For example, if you are planning a Christmas party, chances are your guests will have other parties to attend this time of year and you wonââ¬â¢t want this to interfere with your party.This is also crucial as you need to make your invitations and RSVPââ¬â¢s to know when your guests will or will not be likely to attend. Ask your potential guests when would be the best time for them. This not only gathers information for your party but also relieves the stress in not knowing how much time you have to prepare, including creating a menu. The second step in planning a party is choosing and creating a menu. This can tie into the theme or main reason for your party I. e. : Christmas/New Yearââ¬â¢s Eve, Birthday, Wedding etc.If your theme is Christmas/New Yearââ¬â¢s you may want to go all out and have an expensive menu as opposed to a Birthday party where you may only want to have pot luck. Creating a menu also includes drinks- both hot and cold, desserts and finger foods. Often a key ingredient in parties, drinking allows your guests to socialize and get more acquainted with each other. Make things interesting by having a dessert table served buffet style. You may also want to use this serving style for serving finger foods, or drinks. This way guests can help themselves which may alleviate stress of serving food or beverages at specific times. Such foods/beverages that may be served buffet style may include Do-it-yourself cocktails, fresh fruits and vegetables- suitable for dips, cheese and crackers, or even a chocolate fountain. This is a simple but effective way in making your party a pleasant experience and can also be used in a variety of parties. The second element is whether you will be making the food yourself or hiring a caterer. If you are making the food yourself, take into consideration any dietary requirements of your guests. Are there any guests allergic to anything?Are any guests vegetarian? The last thing you want is someone getting sick or not having anything to eat thus leaving your guest(s) hungry. Also, recognize what time of day your party will be held in relation to the time the food will be served. For instance, if your party is to be held at 2:00pm you are not likely to serve a complete 3 course meal. The third step but not necessarily the final step in planning a perfect party is the creating your atmosphere. This is often the most time consuming step as it involves a variety of things, but can also be the most fun.Creativity is key in setting the perfect atmosphere. Location, music and decorations are covered in this step. Select a location that can be tied into your theme. For example if you are having a winter or Christmas themed party, you may want to host your event at a skating rink. When selecting your location, ask if there are any features- which may be beneficial to your party, such as a sound/light system, dance floor or kitchen area. Most locations that are commonly used for this type of entertaining have some of these features.Music- a key component in parties- can set the mood for a memorable party. Keep things inexpensive by using your own CDs or songs. This saves money on renting a DJ or other music service and you also know what your getting which will help avoid disappointment. Create a song list that relates to your theme. If you are having a New Yearââ¬â¢s Eve party, you may want to include the traditional ââ¬Å"Auld Lang Syneâ⬠or other holiday related songs. You may also want to ask your guests which genre of music or artists they like. Be sure to include both fast and slow music- perfect for dancing! Decorations which are the finishing touch on any party, are a great way in showing off your creativity and ideas. These can vary both big and small, expensive or inexpensive. One easy way to decorate is making your own homemade decorations. For a Christmas party, use a Christmas ornament with your guests name on it as a place card. This doubles as a party favour. Other decorating ideas may include grouping together unscented candles of different heights and colors that suit your theme.This is perfect for some ambiance lighting, and itââ¬â¢s also effective for those who have allergies-because there are no flowers or strong perfumes involved. If your party takes you outside, decorate the outside using simple but attractive white lights. Lights of any color, can be used any time of year and easily adds that festive feel. Among other decorations, offer your guests an area for photo opportunities such as a backdrop that may include a swing to sit on, a festive scene or, if available, something as simple as the scenery. This will allow for others to look back and appreciate your party long after it has ended.As you can see, party planning involves many details, options and time, and can be overwhelming, but it doesnââ¬â¢t have to be. Every party is different and there is no right or wrong way to plan but starting with these three simple steps, you are on your way to planning the perfect party of any theme or type, perfectly. You chose your date, created your menu, and decorated your venue. Also one of (if not) the most important steps in planning a perfect party is to do just that. Party! Have fun, relax and enjoy yourself! P. S- Leave the cleanup for tomorrow, you deserve it! How to cite Recipe for a Perfect Party, Papers
Tuesday, May 5, 2020
Strategic Environment of Babcock International - Schematics of Organiza
Question: Describe the strategic environment of Babcock , schematics of organization and value chain of the organization? Answer: EXECUTIVE SUMMARY Strategic decision making is the main process of every organization. This report also discusses the strategic decisions that the Babcock International has taken to survive in this competitive environment. This report initially gives a brief detail of the organization and also analyzes the strategic environment of the organization. The report discusses that there are four values that Babcock focuses on that are value for people, value for shareholders, value for customers and value for service. The report discusses the level of strategies that Babcock utilizes; Corporate, functional, business and global strategies. The report also analyses the strength, weakness, opportunities and threat of the organization that helps the organization sustain in the competitive world. The critical success factor of Babcock is based on long term relationship and customer focused. Succession planning is the key focus of Babcock. Through this process, Babcock eliminates the confusion in the organization. Four different scenarios like sustainability issue, climate change, centralized controlled system and supply chain management scenarios have been analyzed. Then the report recommends to make the present process more systematic by implementing quality control that would help to focus on the above four issues that might be barrier to the organization. The report is concluded by giving a brief of overall discussion. INTRODUCTION Effectual strategic decision making of business brings the actual and appropriate resources at the right time for the right market. The decision making quality of an organization helps to gain benefits over the competitors in the market. This report identifies the decisions taken by Babcock international to survive in this competitive world. The report would discuss few scenarios that would help to understand the organization to improve the strategies. The report is concluded by giving a brief of overall discussion. OVERVIEW OF THE ORGANIZATION Babcock International Group is one of the leading companies of engineering support services of UK. Babcock, till now, has been delivering the critical assets to various sectors like education, telecommunication, defence, energy and transport by managing their crucial assets. They have around 28,000 skilled personnel who help to maintain, operate, manage, build and design the organizational assets for providing the best service to their customers both overseas and UK. Babcock is the most trusted partner for delivering the best services. This has helped the organization to gain the reputation. STRATEGIC ENVIRONMENT OF BABCOCK Babcock effectively manages their assets by ensuring their operational activities are aligning with the objectives of Babcock. They manage their asset portfolios by implementing proper technical skills and also encouraging flexibility in the accepting the changing needs. Babcocks business strategy focuses on four different values: Value for customer: Babcock works closely in partnership with the customers and also delivers their objectives in collaborate. Babcock tries to understand and identify the mutual interests and also meet the desired outcomes. Value for Service: By measuring the key metrics of the organization, they try to build the reputation of the organization and strong relationship with the customers. Value for People: Babcock covers various spectrum of apprenticeship training for developing the graduate professional. They have developed partnership with Strathclyde Business school and have also created a Babcock Academy which would help the professionals to enhance and refresh their skills, knowledge and attitude. Value for Shareholder: By using honest and open approach with the shareholders, Babcock have build the confidence in their shareholders that, investing in Babcock would give better returns as they are confident of meeting the profits and growth revenues. For example, people who have invested in Babcock have seen rise from 5.2pence to 62.2 pence earning per share in 2012-13 year. CONCEPTUAL FRAMEWORK In order to understand the strategic environment of Babcock, the SWOT analysis and strategic level of Babcock would help to have thorough understanding of their strategies. LEVEL OF STRATEGIES: Corporate Level Strategy: The organization concentrated on the ability of the firm to emphasize on their specific businesses which maximizes the organizations profitability for long term. Babcock is able to maintain the long run profitability and also persist to grow in the engineering service industry as it produces its best to its customers and also innovates and improves its services and products. Business Level Strategy: This strategy encompasses the overall positioning in the engineering service market. Babcock is staying competitive in the market because of its various services, high quality services, cost leadership and diverse industry segment. Functional Level Strategy: This strategy is all about improving the organizations operations effectiveness. Babcock is employing this level of strategy within its service processes, marketing and support services. Thus for improving the customer services, the Babcock strives to characterize the highest and better quality service standards within the engineering support industries and thus in way tries to develop the good relationship with the customer around the globe. Global Strategy. This strategy focuses on the addressing the needs of the organization for expanding its operation in both international and domestic markets. Babcock is applying this strategy by expanding to UK, Brazil, Deutschland and Australasia. SWOT ANALYSIS: Strength: The business model build by Babcock mainly focuses on business relationship The organization have a strong establishment towards research and development The Babcock International has strong features towards the customers through satisfaction, dependability and quality for receiving greater customer loyalty. The organization mainly focuses on the brand image and brand trust. The market position of the organization is also very strong as it is one of leading engineering support services in UK with revenue of 3.5bn in 2014. Weakness: In this industry there is less bargaining power of customers and suppliers. This reduces different possibilities for controlling in the future. As the organization focuses on diverse industries, it may highly depend of the raw material. This increases the risks against fluctuations of price. In order to remain competitive in the industry, Babcock focuses on high R D, which requires skilled engineers. Thus this organization is likely to face issues related to recruitment of highly skilled engineers. Opportunities: Increasing strategic partnerships, mergers and acquisitions and clusters would help Babcock to develop large companies so that the organization can engage in various innovative activities and RD process for improving economies of scale. The use of latest technology and high energy efficient solutions can improve their services and also reduce the cost of production and innovation. Threat: The rapid demographic changes and skills shortages are creating barrier in the engineering support industry. CRITICAL SUCCESS FACTORS Babcocks critical success factor is based on long term relationship and customer focused. They are working in collaboration with their customers to support better services. They have planned 5 year extension with the Canadian Government for supporting the Class submarines of Victoria. They also have an integrated engineering system and also better technical expertise which help Babcock to deliver better projects. It has around 2500 qualified engineer in their Marine division and also it is the largest nuclear service organization of UK (Babcockinternational.com, 2015). KEY PERFORMANCE INDICATORS Succession planning is the key focus of Babcock. Through this process, Babcock eliminates the confusion in the organization. This helps Babcock to align their strategic goals and also their human resources for enabling the right people at the right time in the right place for achieving the better business results. This helps the individuals to realize their career plans in the organization. Further, by providing leadership stability, they are able to sustain high public services and also are able to make sure uninterrupted service delivery (babcockinternational.com, 2013). SCHEMATICS OF ORGANIZATION FOUR SCENARIOS Identification of the four issues Babcock International Group can face these four scenarios over the next 20 years. The exogenous events that can impact Babcock have been discussed. The factor that has been focused on includes issues related to sustainability, implementation of a centralized control system in the organization, stabilizing the relationship with the sub cons tractors by supply chain management. Scenario 1 Climate Change Climate change can be a major issue affecting the engineering firm in the next 20 years. The crucial need of the engineering concern is to adapt to the changing conditions of the climate. Climate change will threaten the economy as well as the infrastructure. A holistic approach has to be taken by the engineering organizations to mitigate the harmful effect of climate change on their economy. Strategic Priorities Innovation in the field of engineering is necessary to address to the changing needs of the climate. The issue of climate change can be addressed in two ways dealing with the long term effects of climate change and dealing with the energy issues that can arise as a result of climate change (climatenorthernireland.org.uk, 2015). Scenario 2 Sustainability In the next 20 years, sustainability can be a major issue affecting the engineering organizations. Babcock can face the same issue. The engineering companies have to respond to a range of pressures and expectations by developing a business strategy which is sustainable. Strategic Priorities The companies can address the issues by actively engaging themselves with the range of stake holders to understand the risk and opportunities of the business. The engineering concern must not limit itself to a compliance driven approach as they will miss the wider opportunities that sustainability presents (Constructingexcellence.org.uk, 2015). Scenario 3 Supply Chain management - Relationship with the sub-contractors The engineering firms in UK are under constant pressure for the improvement of the margins and the reduction of the costs. This will help them to improve the predictability. It is essential to resolve the disputes with the strategic suppliers. Strategic Priorities Management of supply chain is crucial for the success of the organization. Babcock should motivate their contractors to become pro-active. They must be innovative in maintaining relationship with the supply chain (Industry issues, 2015). Scenario 4 Implementation of centralized control system Babcock provides engineering support service to the defense, energy, telecommunication, transport and education sector. It provides critical support to a range of sectors. Strategic Priorities It is essential for Babcock to implement a centralized control system so that all the sectors can be managed efficiently. This will make the process of work flow smoother. Babcock will be able to provide enhanced service to the customers over the range of sectors. FUTURE STRUCTURE OF BABCOCK The current business structure of the organization aims at value maximization of the organization (Babcockinternational.com, 2015). They operate in a complex business environment and operate through output based contracts. They develop innovative engineering and support solutions to ensure that the customers achieve maximum efficiency. They ensure professional development for the employees by creating a safe working environment for the employees. The organization creates value for the customers by building long term collaborative relationship (Babcock International Group PLC Annual Report and Accounts 2014, 2014). Ideal future business structure for Babcock International Group plc The new business structure of Babcock International Group Plc will be include a quality assurance and control program for all the projects that has been undertaken by the firm. The services that are provided by the organization will be reviewed periodically in order provide services that are free from error. A systematic manner will be adopted for reviewing the structural elements of the business. Addressing the key environmental issues will be the major plan of the organization. Climate change is a major issue faced by the organization. The organization will address the issues of climate change. The organization will implement an integrated database management system for tracking the flow of information within the organization. There will be conceptual planning to turnover. There will be a project management team that will provide range of services including meeting the client needs, administration of contract and construction review. The project management team will be involved in providing new facilities to the business, renovations and repairs and remodeling of the business. The engineering services at Babcock will be supported by forensic engineering services to identify the causes of the failure of the organization. VALUE CHAIN OF THE ORGANIZATION The value chain of an organization is as shown below: Source: (Walters and Rainbird, 2004) Radical innovation is the major source for gaining better competitive advantage in the firm. The radical innovation demands a reconfiguration of capabilities and skills of Babcock. Thus, Babcock need to create radical innovation by mobilizing their extra resources and increase novel capabilities, develop new markets and incorporate new technologies (Troilo, De Luca and Atuahene-Gima, 2013). Since, Babcocks success mainly focuses on technology expertise, human resources and also sales of the organization. They are the most important slack resources that the organization needs to focus on for better performance of the organization. Case 1: Technology Development Babcocks main strategy should be to help the clients to change the innovative performance by combining the knowledge of technology of various expertises in the creation of product or service, strategy, development of the organization and also development of the technology process. Babcock should innovate, new footprint methodology that would diagnose the risks and barriers against the successful delivery of services and products. This would ensure that the organization is able to align the operating models and its RD with different teams of the organization and offer processes and tools for accelerating the delivery and also time to market for meeting the needs of the customers (Qi, Shen and Dou, 2013). Further, in order to use the latest technology and improve their technological expertise, Babcock needs to use open innovation which would help to create clear approach and deliver productivity gains and growth opportunities. Case 2: Human Resources Customer Satisfaction, profitability, productivity and quality largely depends on the staff motivation, coordination and training. However, inadequate management of people may hinder the overall process of Babcock. Thus, to stop this hindrance, Babcock need to implement few HR technologies that would help to emphasize on their collaboration with the employees and also give clear picture to the employees about their performance (Jianwu and Xiangqian, 2013). Like, Featherlight, this will help the Babcock employers to manage one-to-one meetings, real time performances of the employees and also help the employees towards continuous learning. Further, for making the performance review more effective, Babcock can use Weekdone application that would help the managers of Babcock, to monitor the challenges, accomplishments and goals of the organization (Huhman, 2014). Mentoring is also another process which, Babcock needs to implement in their process. It is a powerful tool that would facilitate knowledge transmission and retention in the enterprise. This would help to increase the satisfaction level and also increase the commitment and staff retention of the company. Since, Babcock already focuses on the development of their employees by partnering with the schools, the organization need to continue with this process, as there are circumstances like communication gap, dissatisfaction of job and labor disputes need can hinder the objective of the organization. Thus, Babcock should assess and evaluate the problems and conflicts for strengthening continuous improvement. Case 3: Marketing and sales Babcock International, should focus on their Unique Selling proposition. The organization should emphasize on how the offerings are benefiting the customers, are the offerings satisfying the needs of the customers and also understand their perception about the services of Babcock. Further, the organization should also focus on the promotional activities that would help the organization to expand overseas (Harden and Heyman, 2011). For this, the organization should measure the return on investment and also measure the sales lead cost. Also, the organization should use the latest sales tools that would help the organization to improve their performance in future. CONCLUSION In conclusion, this report highlights the strategic environment of Babcock. It is analyzed that the strategies of Babcock, mainly emphasizes on value for their customers, shareholders, people and services. To, analyze the strategies further, report implements the level of strategies and also SWOT analysis. The report analyzed that the customer based business relationship and succession planning are the critical success factor and key performance indicator of Babcock International. Four different scenarios like sustainability issue, climate change, centralized controlled system and supply chain management scenarios have been analyzed. Then the report recommends to make the present process more systematic by implementing quality control that would help to focus on the above four issues that might be barrier to the organization. Before, the report highlights the radical innovations for Human resources, technology development and marketing and sales that would help to salvage the slack r esources of value chain. REFERENCES Babcock International Group PLC Annual Report and Accounts 2014. (2014). 1st ed. [ebook] pp.1-15. Available at: https://www.babcockinternational.com/media/552302/ara_2014_final.pdf [Accessed 31 Jan. 2015]. babcockinternational.com, (2013). Babcock International Group PLC Annual Report. [online] Available at: https://www.babcockinternational.com/media/462758/babcock_ar_2013_final.pdf [Accessed 31 Jan. 2015]. Babcockinternational.com, (2015). Strategic Objectives | Babcock International Group PLC. [online] Available at: https://www.babcockinternational.com/about-us/strategic-objectives/ [Accessed 31 Jan. 2015]. Babcockinternational.com, (2015). Strategic Objectives | Babcock International Group PLC. [online] Available at: https://www.babcockinternational.com/about-us/strategic-objectives/ [Accessed 31 Jan. 2015]. climatenorthernireland.org.uk, (2015). Climate Change Risks Rewards for Construction Industry. [online] Available at: https://www.climatenorthernireland.org.uk/cmsfiles/resources/Events/Liam-McEvoy_Climate-Change-Risks--Rewards-Construction-Industry_Henry-Brothers-Ltd.pdf [Accessed 31 Jan. 2015]. Constructingexcellence.org.uk, (2015). Constructing Excellence | SustainabilityZone | Sustainability in Construction. [online] Available at: https://www.constructingexcellence.org.uk/zones/sustainabilityzone/sust_con/ [Accessed 31 Jan. 2015]. Harden, L. and Heyman, B. (2011). Marketing by the numbers. New York: AMACOM-American Management Association. Huhman, H. (2014). 5 Ways HR Technology Can Improve Performance Reviews. [online] Entrepreneur. Available at: https://www.entrepreneur.com/article/235797 [Accessed 31 Jan. 2015]. Industry issues. (2015). 1st ed. [ebook] p.1. Available at: https://www.pwc.co.uk/engineering-construction/issues/index.jhtml [Accessed 31 Jan. 2015]. Jianwu, C. and Xiangqian, Z. (2013). Study on the Enterprise Knowledge Management Strategy Based on Human Resource Management. Information Technology J., 12(16), pp.3560-3565. Qi, E., Shen, J. and Dou, R. (2013). The 19th International Conference on Industrial Engineering and Engineering Management. Berlin: Springer. Troilo, G., De Luca, L. and Atuahene-Gima, K. (2013). More Innovation with Less? A Strategic Contingency View of Slack Resources, Information Search, and Radical Innovation. Journal of Product Innovation Management, 31(2), pp.259-277. Walters, D. and Rainbird, M. (2004). The value chain. [Bradford, England]: Emerald Group Pub.
Subscribe to:
Posts (Atom)