Discuss Various Theories of Management Essays

Discuss Various Theories of Management Essays Discuss Various Theories of Management Essay Discuss Various Theories of Management Essay pupils explore the risk of dying unexpectedly from various causes. They start from fears they know and, by comparing them with real-life data, they recognise that their perception of risk is often driven by presentations in the media. Pupils learn how to calculate the risks involved for various activities and how these are related to the base risk of death for typical people of different ages and genders. The emphasis is on order-ofmagnitude comparisons, reflecting the variations in risk level between individuals and over time. Pupils work with real data; they deduce information about small probabilities and use measures of average and spread in real life. They also work with orders of magnitude. They learn that mathematical thinking is essential for putting risks in perspective and that the media usually focus on stories rather than on information. In or out ? Pupils consider the evidence from a photograph about whether a batsman in cricket is ‘in’ or ‘out’. The original case arose from a controversial decision by an umpire in an Ashes test match (between England and Australia) in the 1960s. Pupils use mathematics to examine the photograph to assess whether the batman was ‘in’ or ‘out’. Initially, pupils construct a simple mathematical model of the situation by deciding what variables they need to measure and what assumptions they need to make. Using this evidence, they decide for themselves whether the batsman was ‘in’ or ‘out’. As the work develops, pupils explore these measurements and assumptions in detail, allowing them to refine their initial decisions and to understand that, sometimes, there is no single right answer! Pupils revisit their models, test their assumptions and apply their model to other situations. The mathematical skills and thinking that are required emerge gradually during ‘In or Out? ’ Keeping the pizza hot Keeping the pizza hot involves building a mathematical model in the context of homedelivery pizza. Pizza home-delivery is dependent on being able to deliver pizzas quickly, in an edible condition. In Keeping the pizza hot, pupils explore ways to keep a pizza warmer for longer and the implications of doing so. Pupils are asked to help answer the questions: how long does it take a pizza to cool, how far can it travel in that time and what difference does the packaging make? Keeping the pizza hot has a number of parts which include leading pupils to move from a practical problem of a cooling pizza to a mathematical representation of a cooling curve. This is a big step and is intended to induct pupils into the potential of mathematical applications. It demonstrates how mathematics can underpin scientific enquiry. The linking of the time to cool with possible distances of travel introduces further mathematics. Although not essential, this project would work well as a cross-curricular project with the science department. r4 Â © 2008 Bowland Charitable Trust of 9 My music My music uses the interest pupils have in music as an opportunity for mathematical investigations, using pupils own favourite music tracks as the raw data. Pupils work in small groups to listen to different tracks, take measurements and then interpret and present the results. They analyse the similarities and differences between types of track, looking first at tempo and then other variabl es such as track length, highest position or number of weeks in the charts, and album sales; they can also investigate trends in music over the years. My music can work as an introduction to statistical work, including: the collection of numerical data, performing basic statistical calculations, forming and testing hypotheses, making inferences about a population, and identifying potential sources of error in data collection and calculations. Although not essential, this project would work well as a crosscurricular project with the music department. Mystery tours Mystery Tours is a cartoon-based role play. Pupils take the part of the Tour Manager of a struggling tour operator; they are asked to plan a fictitious three day trip around the UK using tools and data in the software. They then lead a ‘simulation’ of the tour and write an evaluation report. There are three groups of tourists, categorised as ‘Nature Lovers’, ‘Thrill Seekers’ and ‘Culture Vultures’; data is available about the preferences of each group. Pupils work together in small groups, or individually, to create a successful trip. In the first stages of the exercise, the most important skills are working with data such as timetables and percentages. Other areas of mathematics are brought in when the trip begins. The tourists are quite demanding, and it is up to the pupils to keep them happy by solving any problems that may arise, presented algebraically or geometrically. Outbreak Outbreak is centred on an outbreak of a fatal virus. Pupils play the role of a scientist trying to contain the spread of the disease. Pupils have to develop a strategy which will help find the infected people, create an antidote and plan a vaccination programme to minimise the further spread of the virus. Pupils work with different experts to help with the challenges. Completing an activity in any one of the ‘bunker areas’, unlocks a code which can then be used in the Map Room to reflect the progress that individuals or groups have made. This provides the opportunity either for the whole class to work through different activities at the same time, or for independent progression. It also promotes group work discussion and real world interaction. PointZero PointZero is an adventure-driven puzzle game based around the central themes of survival, escape and the quest to uncover the truth. Pupils assume the role of three lead characters who have awoken trapped in strange and varying locations in an unfamiliar urban environment, following an undisclosed event. They are encouraged to use their mathematical skills to overcome problems so that each character can gain access to the ‘PointZero’ Building. Examples of activities include exploring complicated number sequences to scale a high rise building, using loci to find the way out of a complex underground network and reproducing geometrical patterns to deactivate a museum security system. PointZero encourages pupils to reflect on how numbers, algebra and geometry influence our daily lives, albeit in ways which may not be immediately apparent. r4 Â © 2008 Bowland Charitable Trust 7 of 9 Product wars Pupils are asked to create a new range of ‘smoothie’ drinks. They use proportional reasoning to analyse the nutritional value and geometry to design the packaging. In Product wars, pupils play the role of being part of a drinks company and work with other employees to research and design the ultimate range of ‘smoothie’ drinks. The Managing Director of the company, Brad King, asks pupils to carry out market research, develop mixes or some ‘smoothies’ and then design and create the packaging. Video is used at key points in the lessons to provide support and guidance. Activities include: using enquiry-based learning to collect and analyse information from peers in developing the product; using ratio and proportion, percentages and a spr eadsheet to mix the ingredients in different quantities to obtain the right nutritional value and taste for the target sector; and identifying suitable packaging designs. Pupils receive feedback via texts from members of the product team and video messages from Brad King himself. Reducing road accidents Pupils imagine that they live in a small town where, over the past year, there has been a large number of road accidents. The town council has set up an enquiry to see what could be done to improve the situation and has allocated ? 100,000 to spend on reducing the number of deaths and serious injuries. In Reducing road accidents, pupils choose from a wide range of possible initiatives, for example, to build new road crossings or roundabouts, to install traffic lights or to design publicity campaigns for specific groups of people. Pupils work in small teams to plan the most effective way to allocate the money. To support this work, the police have provided data on all the road accidents. Pupils use a specially constructed computer program to analyse this data and build a convincing case for their proposal. Save a baby kangaroo Save a baby kangaroo is an authentic context in which the pupils find a young orphaned kangaroo just twelve centimetres long and weighing sixty grams. Different species of kangaroo have different nutrient needs at different stages of their growth. Through video clips, photographs and data such as birth to adult weights, pupils become familiar with a range of data about the different species of kangaroo. They then use the data to identify which kangaroo they have found and develop a feeding programme to save the life of their own ‘Joey’ in a simulation. Finally they communicate what they have learned in order to help someone else save a Joey by making a poster for a Vet clinic. The mathematical content of Save a baby kangaroo includes creating alternative representations of data and communicating statistical information. Speed cameras Speed cameras are a continuing source of controversy, and even the experts are divided on their effectiveness. This is partly because the random nature of accidents makes it difficult to draw valid conclusions, which opens up possibilities for accidental or deliberate misrepresentation of data. Speed cameras uses video and newspaper resources to motivate discussion with and among pupils; this is combined with the use of spreadsheets to model the random occurrence of accidents over a year. Pupils realise that lower probabilities do not invariably lead to fewer accidents, and that the occurrence of more accidents in one year is not necessarily evidence of a higher probability. They learn that random variation can obscure r4 Â © 2008 Bowland Charitable Trust 8 of 9 underlying probabilities. These are difficult but fundamental concepts for pupils to understand, and the combination of ICT and continual referral to a real situation helps to bring them alive. The emphasis is on pupils interpreting and extrapolating from data and using data to support their arguments – and to examine the arguments of others. Sundials Sundials introduces pupils to the idea of using the sun to tell the time, applying a range of mathematical skills to understand some of the theory and to construct at least one sundial for themselves. A video about sundials provides the context, including footage explaining the history of sundials and how they work. An interview with Harriet James, a gnomonist (someone who makes sundials) shows how maths is essential to the construction of sundials. The classroom work is differentiated into three tiers. Depending on the route followed, Sundials uses symmetry and the drawing of angles, nets, origami, circle work and comparing data. Each route includes reading information from graphs and calculating time. Sundials invites pupils to reach out to the clockwork of the heavens! Water availability Pupils take the role of administrators for an international aid agency charged with providing water resources to countries in the Middle East and North Africa. Pupils examine ways to compare the availability of water fairly between the countries and then determine which country is most in need. In Water availability, pupils review documents that describe the importance of water in the region and assemble relevant data. Pupils come to recognise that a key aspect of data handling is to determine which data it is appropriate to use to answer a particular question. In Water availability, the analysis requires the creation of compound measures, such as per capita measures of water availability, which links to the maths of proportionality. Pupils realise that compound measures are important to enable fair comparisons to be made between countries of various sizes. You reckon? The media (and political speeches) are full of claims about how long things will take, how much things will cost and how tricky problems can be solved. People need to be able to judge if such claims are reasonable. You reckon? develops pupils ability to make estimates about unusual quantities based on only limited information, by posing interesting questions such as Is it possible to provide 20% of the diesel used for road transport in the UK by growing crops on ‘set aside’ land? . You reckon? develops mathematical thinking and requires pupils to communicate their solutions. Pupils see that the problems they are asked to solve are the same problems faced by aid agencies, governments, and salesmen! You reckon? helps pupils to recognise the power of even simple mathematics (together with smart thinking) when making decisions about important topics. r4 Â © 2008 Bowland Charitable Trust 9 of 9

Impact of Regulation on Small Businesses

Impact of Regulation on Small Businesses Free Online Research Papers Regulation has become a growing issue in America, especially for small businesses. If we look back to the time of our founding fathers, we see that this is not at all how they intended America to be. In fact, we separated from Britain for similar reasons – unreasonable taxes and regulations on items and businesses. Our founding fathers saw that if the people of a country are not free to prosper, the country and/or its government will become weak. We can look back and see how America prospered, when it was easier for people to have their own businesses. People were able to make themselves comfortable depending on hoe hard they worked; they did not have to depend on government welfare. This is where the phrases ‘the American dream’ and the American work ethic’ originated. These phrases have been used by people in different countries longing to be in America. Clearly, this freedom of working hard and earning our due was different from the ideas of other countries. It was this mindset that allowed America to rise above all other countries. Now, however, America must abide by the rules and regulations of different government agencies. There are usually so many rules and regulations, that businesses must hire lawyers in order to make sure all requirements are met. As a result, only the bigger companies are able to survive. Perhaps, later, it will get to the point where there are only government run companies. This is mainly caused by the combination of too many powers given to the bureaucracy and the bureaucrats’ abuse of their power. It has gotten so bad, that now we must have licenses and fill out stacks of paper work if we want to do something as simple as run a hot dog stand. Recently, bake sales are even talked about being regulated. Not only are many of these regulations ridiculous (such as rules of where doctors should store their band aides), but they have made it so hard for someone to run a business, that these business owners have their manufacturing done in China. This alternative for business owners creates another harm for America; Americans are deprived of jobs because they are given to foreign people in foreign countries. Before regulations, you would succeed if you worked hard, now even hard workers are getting laid off because businesses cannot afford to keep them. If we got rid of even half of these regulations, America would be able to give many of the unemployed jobs and keep money in America. Plans such as the stimulus package, the health care plan, and other welfare programs are not the solution to poverty, a return to capitalism is. Research Papers on Impact of Regulation on Small BusinessesDefinition of Export QuotasNever Been Kicked Out of a Place This NiceThe Effects of Illegal Immigration19 Century Society: A Deeply Divided EraTwilight of the UAWBook Review on The Autobiography of Malcolm XPETSTEL analysis of IndiaMoral and Ethical Issues in Hiring New EmployeesAnalysis of Ebay Expanding into AsiaAssess the importance of Nationalism 1815-1850 Europe

US future markets and risk management Essay Example | Topics and Well Written Essays - 2500 words

US future markets and risk management - Essay Example The aim of this paper is to examine futures as risk management techniques companies could use to manage their risks. The paper first of all examines the risks companies are prune too before analyzing how the risks can be solved with futures.Today, bankers are increasingly becoming conscious about recent developments in their respective markets and have resorted into various method of managing risk in bank. Risk management appears to have improved in most sub-regions as a result of the introduction of new approaches in conducting business as well as better measurement and pricing of the various risks (BIS Paper No 33, 2005).According to BIS paper No.33, financial markets are subject to various sources of risk: credit, market, liquidity, operational and legal risks. These risks tend to be more pronounced in the developing world than in developed countries due to a lower level of economic, financial and institutional development.Credit risk tends to be more acute as a result of a lack o f highly rated counterparties. Market and liquidity risks are higher due to thinly traded markets. Operational risks may also be exacerbated because of inadequate human resources or the failure of manual, mechanical or electronic systems to process payments. Finally, legal risk may also be part of the environment (for instance, due to the inability to foreclose on collateral). The next section discusses credit risk and some of its components and how it can be managed.The aim of this paper is to examine futures as risk management techniques companies could use to manage their risks. ... dit risk; this is typically the most important form of risk for commercial banks Shapiro, 2003; Buckley, 1996; Muller and Verschoor, 2005; Solt and Wayne, 2001).Solt & Wayne (2001) argues that, in assessing credit risk, an institution needs to consider three issues: default probabilities over the horizon of the obligation, credit exposure (ie how large the obligation is when the default occurs) and the recovery rate (ie what part of the exposure may be recovered through bankruptcy proceedings or some other form of settlement) (Solt and Wayne, 2001). Credit risk is often difficult to assess due to the lack of information on the credit history and financial position of borrowers, inadequate accounting practices and standards that make it difficult to evaluate credit exposures, macroeconomic volatility and deficiencies in the institutional environment (e.g., political instability) (BIS Paper No.33, 2005). Weak enforcement of creditor rights may also contribute to uncertainty regarding recovery rates. Although many of these factors have been improving in recent years, progress in some cases is slow (Mohanty et al., (2006). Moreno (2006) highlights two key issues related to credit risk that are relevant for emerging market economies (EMEs). First, the distinct increase in the share of credit to the household sector that has been observed in a number of countries could lower credit risk if the concentration of bank assets fell, if consumer credit diversifies risk among a larger number of borrowers. 2.0 Risk Management In management of credit risk, I will focus only on the currency risk exposure aspect of credit risk. That is in a situation where credit is offered in multiple denominations of currency. Currency risk or foreign exchange exposure or better still foreign