Minority Shareholder Watchdog Group - Free Essay Example

Sample details Pages: 10 Words: 3116 Downloads: 1 Date added: 2017/06/26 Category Business Essay Type Research paper Level High school Did you like this example? Introduction There are two types of shareholders, namely the majority shareholders and the minority shareholders. Minority shareholders refer to those who own less than 50% of the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s shares and thus do not possess voting power in the company. Generally, those who have shares in a company must follow the majority rule. Don’t waste time! Our writers will create an original "Minority Shareholder Watchdog Group" essay for you Create order However, the law has granted several rights to the minority shareholder to protect their interests. There are three basic rights of minority shareholders, namely, right to seek information, right to voice opinion and right to seek remedy. The minority shareholder will also have the right not to be compelled to take over more shares without his consent in writing. This is provided under section 33(3) of Companies Act 1965.[1] Besides, the minority shareholder will also have the right to make application of winding up the company. This can be found under section 218 of the Companies Act[2]. Next, the minority shareholder is also granted with the right to seek relief in cases of oppression or unfair discrimination.[3] Section 181 of Companies Act 1965 states that, à ¢Ã¢â€š ¬Ã…“Any member of a company may apply to the Court for an order on the ground that the affairs of the company are being conducted in a manner oppressive to one or more of the members or that some act of the company has been done which unfairly discriminates against one or more of the membersà ¢Ã¢â€š ¬Ã‚ .[4] Besides, the minority shareholder will also have the right to request to the Court to make an order to call an Annual General Meeting. This is stipulated under section 143(4) of the Companies Act 1965[5]. On the other hand, section 148(1) of the Companies Act also clearly indicates that the minority shareholder will also have the right to attend any general meeting of the Company and to speak and vote on any resolution before the meeting.[6] Furthermore, section 149(1) of the Companies Act further states that the minority shareholder appoint another person or persons as his proxy to attend and vote instead of himself at a meeting of the Company.[7] On the other hand, the minority shareholders may also exert pressure on the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s directors to be more accountable and transparent.[8] Generally, all shareholders, including minority shareholders should also have the r ight to seek remedy when their rights have been violated. In Malaysia, the Minority Shareholder Watchdog Group which was formed on 30th August 2000 provides protection to minority shareholders of public companies over their interests. What is Minority Shareholder Watchdog Group The Minority Shareholder Watchdog Group (MSWG) was established in Malaysia on 30th August 2000. It was formed to promote and protect the interests of minority shareholders in public company through shareholder activism. Through years, the Minority Shareholder Watchdog Group has now become an independent research organization on matters regarding corporate governance. It helps to enables minority shareholders of public companies to become aware of their basic rights as shareholders such as right to seek information, right to voice opinion and right to seek remedy.[9] The right to seek information refers to the right to know about the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s price sensitive information, right to be sent the Notice of General Meetings, right to have a copy of annual report and audited accounts, right to inspect the Minutes of General Meetings and right to know what is happening in the company. On the other hand, the right to voice opinion refers to those rights such as right to attend general meetings, right to request the court to order the company to call a general meeting, right to be heard during shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ meeting and right to vote and elect directors and auditors. Next, the right of minority shareholders to seek remedy is provided under section 181 of the Companies Act 1965[10]. Besides, the MSWG also assists minority shareholders to raise issue of concerns to the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s board of directors. Furthermore, the MSWG also organizes various educational programs for retail shareholders.[11] On the other hand, the objectives of the Minority Shareholder Watchdog Group are laid down in its Memorandum and Articles of Association. There are several objectives being laid down. Firstly, the MSWG was formed to act as the Forum for minority shareholders to share their experiences concerning Malaysian Code in issue such as Corporate Governance, the Securities Commissionà ¢Ã¢â€š ¬Ã¢â€ž ¢s Disclosure-Based Regulations, and the Capital Markets Master plans. Next, the second objective of MSWG is to develop and promote the corporate governance in educational aspects. Furthermore, it was also set up for the purpose of becoming the Think-Tank and Resource Centre in Malaysia which deals with the interest of minority and matters of corporate governance. Besides, it provides platform for the management of public listed companies to carry out collective shareholder activism on questionable practices. Next, another objective of MSWG is to help in monitoring any breaches and non-compliance in practices of corporate governance by public listed companies. Besides, it was set up to initiate reports to regulatory authorities.[12] Next, there are four founding organizations of Minority Shareholder Watchdog Group. The founding organizations are the organizations that provided the start-up fund to the Minority Shareholder Watchdog Group. The first founding organization is the Armed Forces Fund Board. It was established in August 1972 with the aims of giving retirement and other advantages to the Armed Forces members and to ensure that members of volunteer forces are entitled to take part in a savings scheme.[13] Secondly, another founding organization of MSWG is the National Equity Corporation which was incorporated on 17th March 1978. It was formed to act as an important tool of the Governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s New Economic Policy with the purpose of promoting Bumiputeraà ¢Ã¢â€š ¬Ã¢â€ž ¢s share ownership in the corporate sector and developing chances for suitable Bumiputera professionals to involve in the wealth creation and management. Thirdly, the next founding organization is the Social Security Organization (S OCSO) which was formed in year 1971 under the Ministry of Human Resources. Its aims are to ensure and promote occupational health and safety. Lastly, the fourth founding organization is the Pilgrimage Board. It was established in November 1962 with the purpose of enabling Muslims to save their money gradually. The savings can be used for expenditure during pilgrimage or other beneficial purposes. Besides, the Pilgrimage Board also encourages Muslims to participate actively in investment activities which are permissible in Islam through their savings and safeguards the welfare of Muslims during their pilgrimage through different types of facilities and services provided. Today, the Minority Shareholder Watchdog Group is basically funded by the Capital Market Development Fund and also from the sales of its own products and services. [14] Roles and Objectives of Minority Shareholder Watchdog Group The Minority Shareholder Watchdog Group (MSWG) was setup in August 2000[15] and it is not a profit based body. Its aim was to promote and encourage shareholder activism, especially among the least cared and minority shareholders. In Malaysia, MSWG generally works and services people with the objective of preserving shareholder rights, minimize risks to shareholders and eventually help to boost up the value of the capital market. Recently, the MSWG had actively participate in all kind of activities in which issues relevant to minority shareholders and retail investors had been highlighted and given proper attentions. By doing this, their credibility had been built up. The MSWG has also play important role in leading initiative for the development and enlargement of important institution such as Best Practices for Institutional Shareholders. The MSWG had conducts annually surveys such as the Corporate Governance Survey, Directors Remuneration Survey and others. It is therefore able to render proxy services for the minority and retail investors.[16] The M SWG is moving towards becoming a totally independent and self-sustainable institution that stand strong the rights of minority shareholders.The obvious role of MSWG is to enhance Shareholder Activism and Protecting Minority Interest and at the same time develop and propagate the education perspective of corporate governance. It also acts as a platform to start up and discuss on unethical, immoral behaviors and questionable practices for the benefit of the shareholders as a whole. In addition, decision making process in public-listed companies also heavily influenced by the motive and direction of MSWG. MSWG hence works as a guidance to monitor the breaches of statutory duties and non-compliance in corporate governance practices. As mentioned above, it is the forum for minority shareholders to share their experiences in the context of the Malaysian Code on the Capital MarketsMaster plans and Corporate Governance. Besides, MSWG works well as information gathering center for upho lding minority interest and concerning the management of cooperative matters in Malaysia. In the meanwhile, MSWG acts as check and balance in the sense that to develop and spread the corporate governanceà ¢Ã¢â€š ¬Ã¢â€ž ¢s educational aspect. It does not only works as spokesman for regulatory authorities but also acts as an effective deterrent to abusive forces and at same time prohibits activities that could have exploit the interest of the minority shareholders. Lastly, The MSWG provides service at minimum fee which enables investorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ proxy advisory and also proxy voting services.[17] In short, MSWG normally act to protect the interest of minority shareholder and even provides them remedy if they face any defect or disadvantages in the share transactions in Malaysia. Corporate Governance of MSWG The Minority Shareholder Watchdog Group (MSWG) was established to guard the interests of minority investors through shareholder policy. Ità ¢Ã¢â€š ¬Ã¢â€ž ¢s o ne avenue of market discipline to encourage sensible governance amongst public listed corporations with the target of raising investor price over time. MSWGs objectives are started in an exceedingly Charter beneath its memo and Articles of Association. The first one is to become the Forum on minority shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ experiences within the context of the Malaysian Code on company Governance, the Securities Commissionà ¢Ã¢â€š ¬Ã¢â€ž ¢s Disclosure-Based regulations, and also the Capital Markets Masterplans. Besides that, to become the Think-Tank and Resource Centre for minority interest and company governance matters in Malaysia. On top of that MSWG aiming to develop and circulate the educational aspects of company governance as well as in becoming the platform to initiate collective investor policy on questionable practices by management of public listed corporations. In order to achieve the objectives MSWG also need to influence the choice creating method public ly listed corporations because the leader for minority shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ legitimate rights and interests. Moreover monitoring for breaches and non-compliance in company governance practices by public listed corporations is also one of the objectives. Lastly, it is to initiate wherever applicable, reports to restrictive authorities and reworking MSWG into a good deterrent of such events or activities that may be against the interest of the minority shareholders. The MSWG was discovered to make awareness among minority shareholders of their 3 basis rights to hunt data, voice opinion and obtain redress.[18] In recognition of its public mandate to spearhead investor policy that is one in all the key tenets of company governance the CMDF has been supporting the MSWG since 2005. To date, the MSWG has been productive in increase their quality by their active participation in AGMs and EGMs, wherever the MSWG highlight issues and problems relevant to retail and minority share holders. The MSWG has conjointly led an industry initiative for the event of Best Practices for Institutional Shareholders. The MSWG conducts yearly surveys Malaysia public listed corporations, like the Directors Remuneration Survey, company Governance Survey and also the Dividend Survey, and is ready to supply proxy services for minority and retail investors. The MSWG is functioning towards turning into a completely independent and self-sustainable organization representing the rights of minority shareholders.[19] With Malaysiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s push towards responsible investment, MSWG is presently spearheading the formulation and development of the Malaysian Code for Institutional Investors (Code) in line with one amongst the recommendations of the company Governance Blueprint 2011 (CG Blueprint), that made public strategic initiatives geared toward reinforcing self and market discipline. The Code is meant to administer institutional investor steerage on effective exercise of situation responsibilities to confirm delivery of property worth to their final beneficiaries or purchasers. Institutional investors are inspired to be the signatories of the Code that is expected to be launched by the second quarter of 2014. In yet one more development, MSWG has been appointed by the Securities Commission (SC) to be the domestic ranking body in Malaysia to assess Malaysian PLCs victimisation the ASEAN CG scorecard methodology wherever the highest fifty corporations would be mentioned within the ASEAN CG Country Report and hierarchical below the Malaysia-ASEAN CG Index 2013.[20] This appointment was in recognition of MSWGà ¢Ã¢â€š ¬Ã¢â€ž ¢s record in closing the assessment of CG practices among PLCs in Malaysia through the mcg Index since 2009. The findings of the Malaysia-ASEAN CG Index 2013 showed that the common base score for the highest one hundred corporations in Malaysia had raised to seventy five.77 points in 2013 from sixty eight.2 points within t he previous year reflective an overall rising in CG awareness among the listed corporations. In line with the Governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s agenda of promoting corporations with good environment, Social and Governance (ESG), the card has enclosed parameters that measure such disclosures that I see as pertinent because it is accustomed gauge and verify the ESG levels and gaps which will be addressed. As for all, MSWG is also promoting the publication of AGM minutes to produce data on the Conduct of AGMs so the amount of transparency and answerability in corporations is stepped-up.[21] MARKET RESPONSE TO MSWG ACTIVISM The Minority Shareholder Watchdog Group policy is to induce the manner of the companies in conduct the power of ownership so that companies expand and apply successful strategies and high standards of governance, thereby maximizing returns for owners. (Hendrikse, 2004). The activism comes as shareholders that rewarded companies for asset growth, now are demanding e arnings growth, better stock performance and richer dividends. Shareholder activism is a broad concept with many forms. There are a wide variety of actions and behaviour that could justifiably fall within the ambit of shareholder activism. However, no matter which form is chosen the end-game is to effect change; whether in management, the capital and asset structure or strategic direction. The MSWG-targeted firms earn significantly higher positive returns as compared to non-targeted firms. Thus, the company will analyze the reactions of share prices. The analysis will begin from day-0 . Our event window begins on day à ¢Ã¢â€š ¬Ã¢â‚¬Å"30 and ends on day +5 to determine the impact over a short event window, while this window is extended to day +30, +60 and 1 year to gauge impacts over a longer event window. The company will compute raw buy à ¢Ã¢â€š ¬Ã¢â‚¬Å"and-hold returns [22]as well as market-adjusted returns[23], the latter of which is the value-weighted KLCI Index[24] returns ov er the respective event windows. In the year 2013 was the second year MSWG corporate with the ASEAN Corporate Governance Scorecard[25] to acess 826 Malaysian public listed companies. Earlier on, MSWG had used Malaysian Corporate Governance (MCG) Index Scorecard in 2009 and 2011 but it was later alter to Asean countries agreed to use a standard methodology that could be applied across the whole region. In the nutshell, MSWG targets those firms with high return and high levels of institutional shareholdings. It is targeted firms with high levels of cash holdings and relatively lower amounts of debts on their balance sheets. In addition, with easy cash flow and agency cost theorie by applying equity returns data, in searching for companies [26]with good return and reliable to earn profit in short term and over the long run as compared to non-targeted firms. [1] Companies Act 1965, s33(3) [2] Companies Act 1965, s218 [3] Tommy Thomas, à ¢Ã¢â€š ¬Ã‹Å"Protection of Minority Shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ [1984] 1 CLJ 10 [4] Companies Act 1965, s181 [5] Companies Act 1965, s143(4) [6] Companies Act 1965, s148(1) [7] Companies Act 1965, s149(1) [8] Abdul Wahab Jaafar Sidek, à ¢Ã¢â€š ¬Ã‹Å"Protecting Minority Shareholders during Times of Financial Turmoilà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.asli.com.my/DOCUMENTS/capital market summit/Mr Abdul Wahab Jaafar Sidek.pdf accessed 4th August 2014 [9] Abdul Wahab Jaafar Sidek, à ¢Ã¢â€š ¬Ã‹Å"Equitable Treatment of Minority Shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.oecd.org/daf/ca/corporategovernanceprinciples/41076424.pdf accessed 4th August 2014 [10] Companies Act 1965, s181 [11] Abdul Wahab Jaafar Sidek, à ¢Ã¢â€š ¬Ã‹Å"Protecting Minority Shareholders during Times of Financial Turmoilà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.asli.com.my/DOCUMENTS/capital market summit/Mr Abdul Wah ab Jaafar Sidek.pdf accessed 4th August 2014 [12] Minority Shareholder Watchdog Group, à ¢Ã¢â€š ¬Ã‹Å"Objective, Vision and Missionà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.mswg.org.my/page.php?pid=85menu=sub accessed 10th August 2014 [13] Lembaga Tabung Angkatan Tentera, à ¢Ã¢â€š ¬Ã‹Å"Objektifà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.ltat.org.my/webltat/index.html accessed 4th August 2014 [14] Minority Shareholder Watchdog Group, à ¢Ã¢â€š ¬Ã‹Å"Who Are Weà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.mswg.org.my/page.php?pid=36menu=sub accessed 4th August 2014 [15] Minority Shareholderà ¢Ã¢â€š ¬Ã¢â€ž ¢s Watchdog Group, Dana Pembangunan Pasaran Modal, Capital Market Development Fund. To date, the MSWG has been successful in building up their credibility by their active participation in AGMs and EGMs, where the MSWG highlight concerns and issues relevant to retail and minority shareholders. [16] OECD Investment Policy Reviews OECD Investment Policy Reviews: Malaysia 2013, pg 173, Paragraph 5.3.The MSWG has been pivotal in providing a platform for providing a platform for collective shareholder activism on questionable practices by management of public. [17] The Impact of minority Shareholder watchdog group activism on the performance of targeted firms in Malaysia, Rashid Ameer and Rashidad Abdul Rahman, pg 76. These subscribers are given advice on how to ask questions and raise issues at AGMs or EGMs. The modus operandi of the MSWG is to write letters known as MSWG letters to corporate secretaries in targeted firms to highlight major issues for clarification or to solicit the details from the board in forthcoming AGMs or EGMs [18] Rashid Ameer and Rashidah Abdul Rahman, THE IMPACT OF MINORITY SHAREHOLDER WATCHDOG GROUP ACTIVISM ON THE PERFORMANCE OF TARGETED FIRMS IN MALAYSIA (web.usm.my 2009) https://web.usm.my/journal/aamjaf/Vol 5-1-2009/5-1-3.pdf accessed 6 August 14 [19] Minority Shareholders Watchdog Group (cmdf.org.my ) https://www.cmdf.org.my/364_221_221/Web/WebPag e/Minority-Shareholder-s-Watchdog-Group/Minority-Shareholder-s-Watchdog-Group.html accessed e.g. 6 January 14 [20] Code for institutional investors (cgmalaysia.blogspot.com 2014) https://cgmalaysia.blogspot.com/2014/01/code-for-institutional-investors.html accessed 6 August 14 [21] (mswg.org.my ) https://www.mswg.org.my/page.php?pid=141action=previewmenu=main accessed 6 August 14 [22] is a passive investment technique in which shareholders continue to hold onto their stocks, regardless of market conditions. Its an interesting approach, with some market theory to back it up. [23] A concept that refines an investments return by measuring how much risk is involved in producing that return, which is generally expressed as a number or rating. Risk-adjusted returns are applied to individual securities and investment funds and portfolios. [24] The FBMKLCIwill be part of the FTSE Bursa MalaysiaIndexSeries. It is calculated based on globally acceptedindexmethodology, which is transparent to inspire confidence. Theindexwill be computed based on free float adjusted market capitalization. [25] ACMF and the ASEAN Corporate Governance Scorecard [26] There are 35 firms in which the MSWG have tried to initiate board changes and 15 firms in which MSWG stopped merger and acquisition deals.

A Brief History of the Microscope

During that historic period known as the Renaissance, after the dark Middle Ages, there occurred the inventions of printing, gunpowder and the mariners compass, followed by the discovery of America. Equally remarkable was the invention of the light microscope: an instrument that enables the human eye, by means of a lens or combinations of lenses, to observe enlarged images of tiny objects. It made visible the fascinating details of worlds within worlds. Invention of Glass Lenses Long before, in the hazy unrecorded past, someone picked up a piece of transparent crystal thicker in the middle than at the edges, looked through it, and discovered that it made things look larger. Someone also found that such a crystal would focus the suns rays and set fire to a piece of parchment or cloth. Magnifiers and burning glasses or magnifying glasses are mentioned in the writings of Seneca and Pliny the Elder, Roman philosophers during the first century A. D., but apparently they were not used much until the invention of spectacles, toward the end of the 13th century. They were named lenses because they are shaped like the seeds of a lentil. The earliest simple microscope was merely a tube with a plate for the object at one end and, at the other, a lens which gave a magnification less than ten diameters -- ten times the actual size. These excited general wonder when used to view fleas or tiny creeping things and so were dubbed flea glasses. Birth of the Light Microscope About 1590, two Dutch spectacle makers, Zaccharias Janssen and his son Hans, while experimenting with several lenses in a tube, discovered that nearby objects appeared greatly enlarged. That was the forerunner of the compound microscope and of the telescope. In 1609, Galileo, father of modern physics and astronomy, heard of these early experiments, worked out the principles of lenses, and made a much better instrument with a focusing device. Anton van Leeuwenhoek (1632-1723) The father of microscopy, Anton van Leeuwenhoek of Holland, started as an apprentice in a dry goods store where magnifying glasses were used to count the threads in cloth. He taught himself new methods for grinding and polishing tiny lenses of great curvature which gave magnifications up to 270 diameters, the finest known at that time. These led to the building of his microscopes and the biological discoveries for which he is famous. He was the first to see and describe bacteria, yeast plants, the teeming life in a drop of water, and the circulation of blood corpuscles in capillaries. During a long life, he used his lenses to make pioneer studies on an extraordinary variety of things, both living and non-living and reported his findings in over a hundred letters to the Royal Society of England and the French Academy. Robert Hooke Robert Hooke, the English father of microscopy, re-confirmed Anton van Leeuwenhoeks discoveries of the existence of tiny living organisms in a drop of water. Hooke made a copy of Leeuwenhoeks light microscope and then improved upon his design. Charles A. Spencer Later, few major improvements were made until the middle of the 19th century. Then several European countries began to manufacture fine optical equipment but none finer than the marvelous instruments built by the American, Charles A. Spencer, and the industry he founded. Present day instruments, changed but little, give magnifications up to 1250 diameters with ordinary light and up to 5000 with blue light. Beyond the Light Microscope A light microscope, even one with perfect lenses and perfect illumination, simply cannot be used to distinguish objects that are smaller than half the wavelength of light. White light has an average wavelength of 0.55 micrometers, half of which is 0.275 micrometers. (One micrometer is a thousandth of a millimeter, and there are about 25,000 micrometers to an inch. Micrometers are also called microns.) Any two lines that are closer together than 0.275 micrometers will be seen as a single line, and any object with a diameter smaller than 0.275 micrometers will be invisible or, at best, show up as a blur. To see tiny particles under a microscope, scientists must bypass light altogether and use a different sort of illumination, one with a shorter wavelength. The Electron Microscope The introduction of the electron microscope in the 1930s filled the bill. Co-invented by Germans, Max Knoll, and Ernst Ruska in 1931, Ernst Ruska was awarded half of the Nobel Prize for Physics in 1986 for his invention. (The other half of the Nobel Prize was divided between Heinrich Rohrer and Gerd Binnig for the STM.) In this kind of microscope, electrons are speeded up in a vacuum until their wavelength is extremely short, only one hundred-thousandth that of white light. Beams of these fast-moving electrons are focused on a cell sample and are absorbed or scattered by the cells parts so as to form an image on an electron-sensitive photographic plate. Power of the Electron Microscope If pushed to the limit, electron microscopes can make it possible to view objects as small as the diameter of an atom. Most electron microscopes used to study biological material can see down to about 10 angstroms--an incredible feat, for although this does not make atoms visible, it does allow researchers to distinguish individual molecules of biological importance. In effect, it can magnify objects up to 1 million times. Nevertheless, all electron microscopes suffer from a serious drawback. Since no living specimen can survive under their high vacuum, they cannot show the ever-changing movements that characterize a living cell. Light Microscope Vs Electron Microscope Using an instrument the size of his palm, Anton van Leeuwenhoek was able to study the movements of one-celled organisms. Modern descendants of van Leeuwenhoeks light microscope can be over 6 feet tall, but they continue to be indispensable to cell biologists because, unlike electron microscopes, light microscopes enable the user to see living cells in action. The primary challenge for light microscopists since van Leeuwenhoeks time has been to enhance the contrast between pale cells and their paler surroundings so that cell structures and movement can be seen more easily. To do this they have devised ingenious strategies involving video cameras, polarized light, digitizing computers, and other techniques that are yielding vast improvements, in contrast, fueling a renaissance in light microscopy.

Extraversion and Neurotism Free Essays

TAKE-HOME ESSAY #2 Psy 2300, Fall 2012 †¢The second take-home essay will be worth 20 points. You may use your textbook, D2L resources, and class notes. You may NOT collaborate with fellow students! †¢Essays must be double-spaced, with 1-inch margins and a reasonable font size (e. We will write a custom essay sample on Extraversion and Neurotism or any similar topic only for you Order Now g. , 12 point). †¢PLEASE CAREFULLY PROOFREAD YOUR ANSWERS FOR CLARITY TYPOS; excessive proofreading errors will result in a deduction of points, as will a failure to follow the formatting requirements above! †¢The essay should be 1-3 pages long and organized into coherent paragraphs. Please organize your essay according to the subdivisions provided (a, b, c, etc. ). You do not need to use a formal essay format (introduction, body, conclusion). †¢Please use your own words whenever possible. If you feel you must quote from class notes or the textbook, cite the source properly. †¢You may answer any ONE of the three questions provided. If you answer more than one, only the first one will be graded. †¢Essays are DUE in the Dropbox by 9:59 p. m. on Friday, November 9th. 1. Compare and contrast the Big Five with EITHER Eysenck’s model OR Tellegen’s model (i. . , identify similarities and differences). If you choose Tellegen, focus on the three higher -order traits; just refer to the primary scales as examples if applicable. Think about how the models were derived as well as the meaning of the traits themselves. Then discuss which of the three trait models covered in class you prefer and whether you think any important aspects of personality are left out of the three models. Make sure you JUSTIFY your choice of favorite model by presenting at least two distinct reasons. 2. Consider what it means to be high in the traits of Extraversion and Neuroticism (separately). Then make connections between each trait and current concern theory. Specifically, address how being high in these traits might influence: †¢Which types of goals people pursue †¢How their goal pursuits affect them (emotionally and cognitively) †¢How they progress through the incentive-disengagement cycle when a goal is blocked What I’m looking for here is a thoughtful discussion of how being high in E and being high in N might affect people’s motivational processes, using concepts from Klinger’s current concern theory. It may help to refer to the low ends of these traits to provide a contrast with the high ends (e. g. , â€Å"unlike introverts, when extraverts pursue a goal†¦ †). 3. If you’d like to be a little creative, tell a â€Å"story† about a person with a particular configuration of traits. Specifically, choose AT LEAST THREE of the Big Five OR Tellegen’s primary traits (if you choose Tellegen, make sure to pick one trait from each higher-order factor). The person can be purely hypothetical or based on someone you know; I even had students discuss the fictional characters Dwight (from â€Å"The Office†) and Borat! Describe how that person typically behaves based on how they score on the three traits you select. For example, â€Å"Ralph† might be high C, low N, and medium O. What might Ralph’s behavior patterns be like? His interpersonal relationships? His goal pursuits? Would his trait configuration lead to any particular problems in his life? What I’m looking for is a clear understanding of the traits you choose and the ability to APPLY those traits to a realistic scenario in which the traits can interact with each other. Have fun! [NOTE:I have a sample full-credit essay posted on D2L to help with this option! ] How to cite Extraversion and Neurotism, Essay examples

Operations Management †Critical Issues and Problems Essay Sample free essay sample

Introduction The concern direction maps and activities can be clearly grouped in three major direction countries including Marketing. Finance and Operations. Almost all of the concern subjects lie under the umbrella of these three chief maps ( Anupindi et al. 2006 ) . Among these chief countries operations direction is an of import 1 that deals with managing and guaranting the efficiency and effectivity of all the operations undertaken by the concern so that these operations can back up the organisation to run into its strategic ends. There is broad scope of activities and maps that are performed under the operations direction like planing the systems in a manner to efficaciously utilize the natural goods or input in the production of finished and concluding goods and services while keeping the company criterion. Thus it can be said that â€Å"Operations Management is one of the major map of the concerns that is concerned with the planning. programming. and commanding all the activities that tra nsform the inputs in to the outputs† ( Davis et al. 1999 ) . Here inputs refer to the natural stuff and human resources whereas end product refers to the finished goods and services being produced by the concern. Operations Management is a systematic concern activity that must be undertook by an organisation by decently following the set of widely recognized every bit good every bit good developed constructs. tools and techniques so that the concern can pull off its operations while staying within an acceptable model of activities and maps ( Finch and Byron. 2006 ) . In general the operations direction might be considered as something related with the fabrication environment nevertheless it is a broad country that covers the direction of all the activities and stairss involved in the proviso of goods and services. In order to successfully run the concern. it is really indispensable for the direction of the organisation that it must develop such schemes and policies that can ensue in equal direction of operations so that the concern can execute its production procedure in satisfactorily mode. This is an of import country of accent for the concern directors because it involves the direction of the affair related with the important figure of employees and physical assets and uneffective operations direction can take the concern at extremely hazardous place that might go a menace to the being and endurance of the concern. ( Rainbird and Mark. 2004 ) This paper is aimed at placing the critical issues and major jobs that the concerns face in the country of operational direction. In this respect foremost of all the paper explains the importance of operation direction for an organisation and so discusses and identifies the nucleus issues and jobs related with this of import subject of concern direction. In the visible radiation of the research work contributed by different societal scientists and experts of the field. the paper besides proposes some suggestions with the purpose to convey out the solution to the jobs and issues raised in the paper. Operations Management – Importance for Businesses Operations Management is an of import country of concern direction that involves the direction of each and every measure in supplying a good and service. Over the last few decennaries there is considerable addition in the consciousness and acknowledgment of the importance of this concern subject and the organisations have now realized that they have to concentrate on better operations direction in order to successfully carry on their concern and compete with others in the market. The important rise in the foreign competition. increased handiness of the consumers towards different goods and services. shorter merchandises with service life manner. more educated every bit good as quality witting consumers and the outgrowth of new communicating and fabrication engineerings are the of import factors that have played the major function in finding the importance of operations direction for a concern. These factors have besides built a force per unit area on the organisations that in order t o aline their concerns with the rapid and radical alterations happening in the market. they have to better their productiveness through effectual operations direction so that they can fulfill the lifting demands of the consumers by supplying them wide array of high quality merchandises and services. Due to advancement in information and communicating engineering the consumers now have greater entree to the services and merchandises produced in different parts of the word and even if they can non do any purchase. they can procure batch of information about the handiness of different characteristics and installations in different merchandises and services. Due to this consciousness there is considerable addition in the demands and outlooks of the consumers and now the companies have great challenge in forepart of them that they have to run into the demands of good cognizant consumers who have batch of options in forepart of them sing the choice of good and services. In such state of affairs the companies can catch the attending and keep the trueness of the consumers merely by turn outing them high quality merchandises and services and all this is possible merely through effectual. efficient and strategic operations direction. Thus it can be said that globalisation has significantl y contributed towards recognizing the importance of operations direction for the concerns and most of the organisations now believe that they can utilize operations direction as a competitory arm that can beef up them in the extremely competitory market topographic point of today. Based of the above mentioned factor. Operations direction has secured an every bit of import place in the organisations like finance and selling and the direction of the concerns now emphasis more and more on operations direction because they are cognizant of the fact that to accomplish the cardinal aims of the organisation and the overall corporate scheme they need strong support from operations direction and in instance of failure in pull offing the operating. it will be non merely hard but even impossible to them to run into the organisational aims and increase profitableness. In this scenario the operations directors have to execute a really responsible occupation for the organisation because they have to play a strategic and tactical function to guarantee the satisfaction and trueness of the consumers and at the same clip they besides have to work to take their house at a better place as compared with the market rivals by guarantying high quality of goods and services. Critical Issues in Operations Management There are some really critical issues that come under the subject of operations direction and the people responsible for the direction of the operations of the concern are apt to execute the duty of guaranting the quality by carry oning proper quality control. capacity planning to guarantee flow of inputs and end products from the operations topographic point. stuff planning to guarantee the quality of the finished merchandise. buying the needed end products at needed clip and scheduling all the activities related with the production procedure so that the company can bring forth the goods or service at right clip while keeping the specific criterion of the company. The operations directors have to cover with figure of of import issues during their work for illustration they have to find they what input will come in the operating system and in this respect they have to do major determination sing the type. nature and figure of equipments. Numberss and skilled degree of the work force. tools. installations. quality and measure of stuff. engineering. devices and information. Along with doing the determination about the above mentioned factors. the operations directors besides have to make up ones mind the manner through which all of these inputs can be obtained to utilize in the operating system and what would be the best possible and suited manner of using all of these inputs so that they can keep their criterion and can besides fulfill the demands of the competitory market topographic point. At present different techniques and constructs are being applied and implemented in other concern direction countries every bit good such as human resource direction and selling etc. ( Raturi et al. 2005 ) In today’s competitory market topographic point there are some major issues in operations direction. The operations director have to plan such schemes that can cut down the development and fabrication clip of the goods and services so that the company can acquire more clip to concentrate on related affairs. At the same clip the operations director besides have to accomplish and prolong high quality in the fabrication of the merchandises and services by commanding the cost of production. In operations direction. the concerns are chiefly concerned with two types of issues ; the long term direction of operations and the intermediate term direction of the concern operations. In the long term operations direction the directors have to develop a strategic attack towards the operational system of the company and they have to do some really cardinal determinations related with the merchandises and services production of the company. For long term operations direction the company has to make up ones mind what merchandises or service they will bring forth. what would be the process used and machinery. tools. engineerings used in the fabrication of the merchandise. what will be the topographic point where the full production will be done and how much measure of the merchandises and service will be made by the company. Therefore in the long term. the direction is concerned with the issues of choosing the service or merchandise for the development. procedure and layout determina tions sing the merchandise and service. the location of the site and the capacity or measure of fabricating merchandise and service. In intermediate term the operations directors have to take some tactical determination related with the operational system of the company. The operations directors have to concentrate towards the issues associated with the efficient programming and agreement of the input including maternal and work force in the operations system in such a manner that these input can be efficaciously used in bring forthing the merchandises and services of the measure and quality that is decided by the direction during the long term operations direction determinations. To achieve this nonsubjective the operations director have to make up ones mind the material measure and figure of the employees and their accomplishments degree required for the production of merchandise and services. the clip of doing the input available in the operations system and the direction of the clip tabular array for the work force so that the targeted sum of merchandises and services can be produced within the estimated clip. Thus the intermediate degree operations direction is to concentrate on the issues like make up ones minding the employee degree. stock list degree and capacity. Common Problems faced by Organizations in Operations Management There are some major jobs that are faced by the concerns while pull offing the operations due to some mistake in their schemes and be aftering related with the operations direction. An of import map of operations direction is to cut down the operational cost and increase the operational efficiency and quality nevertheless some companies fail to cut down the cost of the production and as a consequence the consumer monetary value of their merchandise is really high and on economical footing some of the consumer start preferring other trade names over the company’s merchandise. This is a debatable state of affairs for the concerns because this led to worsen in their gross revenues and net income and it is one of the major defects of the schemes and planning of the operations director that they fail to fulfill the consumers by supplying them acceptable quality at acceptable monetary values. ( Krajewski et al. 1993 ) It is by and large observed that despite supplying equal input to the fabrication system. the concerns still fail to accomplish their ends and their place in the market topographic point is besides severely effected. This is because the work force is non motivated plenty to play positive function in the production procedure or the sections of the concern done have effectual coordination among them and they do non back up the determinations taken by each other. This state of affairs brings many jobs for the operations directors and for the success of a concern it is really necessary that all of these jobs must be solved by the direction and there should be effectual and successful direction of the operations system of the concern. ( Krajewski et al. 1993 ) Proposed Solutions to the Identified Problems The above treatment revealed that there are some of import issues in operations direction that must be dealt in effectual mode to guarantee the successful accomplishment of the organisational aim and the operations director frequently face jobs in efficaciously pull offing these affairs. There is really important importance of the fact that the concerns must cognize that how can they pull off their operations in most effectual mode and what are the stairss and schemes that must be taken for effectual operations direction. In this respect the societal scientists and experts have carried out several research surveies to convey out the solutions to this job and there are many solutions proposed by the research workers that assist the concerns by supplying some guidelines for better operations direction. Anupindi et Al ( 2006 ) pointed out that in order to efficaciously manage the common jobs arise in the operations direction. it is really indispensable that the operations director must possesses the accomplishments and qualities to cover with the affairs related with the operations direction. The research workers explained that the operations director has the taking function in finding the successful direction of the operations system of the concern so it is really imperative that the operations director must hold equal cognition of all the engineerings. trifles and methodological analysiss related with his relevant industry so that he can pull off the affairs related with the production of the merchandises in suited mode. In add-on to this the operations directors must possess good interpersonal accomplishments and he must maintain him familiar with all the functional countries of the concerns so that the determination he made will non clash with any other concern scheme. Sean Naughton ( 2002 ) besides put frontward some ways to cover with the jobs of operations direction. He explains that the interpersonal accomplishments of the operations director are really of import because he must hold the ability to pass on and organize with all the related people of the organisation so that he can efficaciously actuate people to work expeditiously in a disciplinary mode and carry through the ends while keeping the high criterions of quality. Raturi et Al ( 2005 ) suggested some ways to meet with the critical issues of operation direction and revealed that the operations directors besides have to look for new ways through which the operation systems can be improved. In this respect they must incorporate new engineerings. techniques and control system in the fabrication procedure so that the operations system can be updated with the promotions of engineerings. The direction besides has to plan the enlisting and choice policy of the company based on virtue and high skilled standard so that qualified and skilled directors and employees will come in the house and take efficient function in the fabrication and production procedure. James M. WIlson ( 1995 ) explains that the coordination and communicating links with all the other sections of the organisation and the providers and clients should besides managed in effectual mode so that all the sections and related organisations can play a supportive function in accomplishing th e strategic ends of the organisation. Decision The paper was chiefly intended to through visible radiation on the importance of operations direction for the concern and the chief jobs and nucleus issues within this concern subject are besides identified to happen the ways towards the solutions of the jobs in the visible radiation of research surveies conducted by different societal scientist. The above treatment revealed that operations direction is an of import field for the concern directors because in the extremely competitory and technological advanced market topographic point of today the concerns are required to be more updated. The consumers are acquiring more cognizant and extremely demanding sing the quality of the merchandises and services and the concerns on the other manus are confronting great challenges in signifier of increasing competition due to globalisation. Therefore in this state of affairs operations direction is the strategic tool that can help the concerns in run intoing the consumer demands and accomplish ing their organisational aims. However there are some critical issues that must be kept in consideration by the direction for the effectual direction of the operations because the concerns frequently face jobs in pull offing their operations due to figure of grounds like deficiency of coordination between sections. deficiency of motive of employees and failure in production cost control. In this respect the paper suggests that the operations director has the critical function to play in this scenario so the concern must choose the operations director for the company who is to the full cognizant of the trifles of the relevant field and besides possess first-class interpersonal accomplishments so that he can do develop good coordination and communicating accomplishments with all the sections of the organisation and related people and can besides actuate the employee to give their best. Thus the treatment can be summarized in to the decision that the accomplishments. makings. cognition. experience. strategic planning and interpersonal communicating abilities of the operations director plays the cardinal function in confronting and get bying up with all the critical issues and jobs that the concerns frequently face in operations direction. Mentions Anupindi. Ravi. Sunil Chopra. Sudhakar D. Deshmukh. Jan A. Van Mieghem. and Eitan Zemel ( 2006 ) . â€Å"Managing Business Process Flows: Principles of Operations Management† . Upper Saddle River. New jersey: Pearson Prentice Hall. 2006 Davis. Mark M. . Nicholas J. Aquilano. and Richard B. Chase ( 1999 ) . â€Å"Fundamentals of Operations Management† . 3rd erectile dysfunction. Boston: Irwin McGraw-Hill. 1999 Finch. Byron. â€Å"Operations Now† . 2nd erectile dysfunction. . Boston: McGraw-Hill Irwin. 2006. James M. WIlson ( 1995 ) . a historical position on Operations Management. Production and Inventory Management Journal Krajewski. L. J. . and L. P. Ritzman ( 1993 ) . Operations Management: Scheme and Analysis. Addison -Wesley Publishing. 1993 Rainbird. Mark ( 2004 ) . â€Å"A Model for Operations Management: The Value Chain. † International Journal of Operations and Production Management 34. no. 3/4 337–345 Raturi. Amitabh. and James R. Evans. Principles of Operations Management. Mason. Ohio: Thomson Southwestern. 2005 Sean Naughton ( 2002 ) . Operations Management: in a hebdomad. Chartered Management Institute