Items filtered by date: December 2013
The Federal Reserve
It is with no doubt that the Federal Reserve has some role in stabilizing the current economy. The paper will evaluate and focus on the effectiveness and the role that the Federal Reserve has in establishing the economy in the current status. There are some economic indicators that may help this economy thus I will also determine these economic indicators and how the Federal Reserve is supposed to analyze them to stabilize the economy. The paper will also demonstrate on the monetary policies that the Federal Reserve is supposed to apply so as to influence the money supply plus explain weaknesses and strengths of using monetary policy as compared to the aspect of using fiscal policy when preserving price stability and promoting economic activity. The last aspect will be the effect of the Federal Reserve’s action based on the supply model or the aggregate demand model.
Role and the Effectiveness of the Federal Reserve
Evidence shows that the American economy is developed by the complexity balance of banking industries, agriculture, manufacturing, financial, and services among others. Since the US economy is referred as a global economy, it focuses on trade and foreign investments so as to retain and create wealth that it has. It is with no doubt that US has evolved in different aspects, which starts from, farming activities, to services of industrial, to an economy based services. Development of the banking system has contributed a great role in the growth of many government activities which has boosted the economy growth. These factors that have contributed to the economic growth have weathered the many growing pains that are liked with instituting regulations, and implement policies that oversee the offset factors which negatively affects the general financial health of the country’s economic growth. Apart from the above factors, centralized bank that seeks to examine the economy and the new government and the currency also affects the growth of the banking system, (Estrella & Mishkin, 2008).
The US is working towards moving its economy to a globally interdependent marketplace. The stakes in this situation are higher as compared to when the congress established the Federal Reserve back in the early 1900s. The role of the united state federal banking system is now scrutiny and considerably under pressure simply because the country’s debt has changed to be a world’s debt. The current liquidity crisis which has affected UK, Asian, and US markets have made it difficult for the policy making in developing crucial decisions that will help in sustaining long term economic viability. There is a growing need for precise and quick actions by the Federal Reserve System in the aspect of decision making but results shows that the economic situation always develops controversial. Recently, the congress passed a bailout plan which is seen not to be effective because it has met with skepticism. The history of America shows that the banking system has always been affected by the aspects of financial crises and at any given situation the bank fails which leads to a deep recession, (Federal Reserve 2008).
According to the capitalist system, the proclivity based on the series of troughs and peaks, there was an existence of the business cycle. As a result, the American government opposed the centralized bank system concept in the country. Because of the apprehension of a singular bank entity, the first bank of US that was established by the congress did not succeed. Having this in mind and the concept of the financial crisis, the system has an obligation in utilizing resources of monetary policy and at the same time appeal to congress in order to infuse capital into large corporations. These will be corporations’ whose failure would develop some detrimental impacts on the country’s economy. It is the work of the Federal Reserve System to come up with more savvy risk controls so as to implement them in the commercial banking system for the purpose of the economic growth. The market collapse that happened in 2008 brought the worst financial crisis that has affected the country since the end of the great depression, (Mishkin, 2011).
Economic Indicators for Federal Reserve
The primary purpose of Federal Reserve System is to oversee and manage the aspect of inflation within the economy. The central bank of the nation which is responsible for the purpose of lending money to a wide network system of private banks. This helps the federal reserve become powerful in matters of economy simply because it manages to regulate the economy by way of ensuring that the money loan is operating in the preferred situation either by making it cheap by lowering rates or expensive by raising interest rates. The concept of expansionary monetary policy is where they system sets low interest rates so as to enable the economy develop and grow faster. Inflation occurs when the economy tends to grow faster as expected. So as, to prevent or slow the aspect of inflation, it is the work of the Federal Reserve System to keep the rates of lending money high enough. In the process of overseeing and fighting the problems of economic growth, it is clear that Federal Reserve has established a system that helps buy more treasury debt so as to reduce the interest rates that give rise to the creation of job opportunities, (Mayer & Fox, 2010).
Federal Reserve System should influence the investing and lending activities of depository institutions. This will also focus on the availability and cost of credit and money in order to promote the full use of capital and human resources for the purpose of equalizing the nation’s international balance of payments, relatively stable prices, and the growth productivity. For the purpose of maintaining a commercial banking system that is responsive to the nation’s objectives and financial needs, the Federal Reserve applies its regulatory and supervisory aspects of banking functions. The Federal Reserve System comprise of many components from relevant bodies that create the board of governors who oversees if the operations of the system are carried out in the required manner. It is believed that money acts as the asset in people’s economy where people have the potential to regularly develop their purchase and in return the growth of the economy. As it is with the money concept, the Federal Reserve System should ensure that it makes it easier for human life by developing and working towards a successful economy that offers the best, (Federal Reserve 2008).
Monetary Policies for Federal Reserve
The work of the system is to ensure that enough credit and money are available and in use in the proper manner so as to sustain the economic growth without developing any kind of inflation. In a situation where the inflation tends to threaten the purchasing power, it is the duty of Federal Reserve to slow the growth of the money supply thus creates a health environment for the economic growth. This is arrived at by applying three tools namely open market operations (OMP), reserve requirements, and the discount rate system. The system uses the concept of open market operations to influence the money supply aspect through selling and buying the US government securities through the open market. This helps influence the growth of money, short term interest rates, and credit aggregates. Fed’s open market operations that occurs daily results from the policies of the federal open market committee are applied in the Federal Reserve banks for the purpose of making everything open. Despite the downtown in the growth rate, there must have an increase of the money supply which occurs through lower interest rate and there is a need of credit for stimulating the economy, (Estrella & Mishkin, 2008).
The opposite of this condition occurs when the economy is somehow over stimulated. The system tends to raise short term interest rates to slow it down making the occurrence inflation. It is the work of the system to enter into the market and sell and buy securities required from dealers and brokers. When the dealers of securities send them to the Federal Reserve System, the system adds the money to the reserve accounts where the money is put to the reserve accounts of the dealers and brokers which is contributed to the operations. The reserves then leave the banking system which is responsible in curtailing the expansion of credit and money supply. The approach used in charging financial institutions for short term loans by the system is called the discount rate. Federal Reserve maintains a given volume reserve balances that are supplied for the purpose of ensuring that small of a portion of the entire supply is balanced. The balanced maintained is the one which helps the Federal Reserve System in making decisions on the lending aspects thus clear establishment of the growth of the money supply aspects. The reserve requirements are rarely charged by the system simply because its charges have an impact on the financial institution operations. Evidence shows that the Federal Reserve System must ensure that the US payment system is effective and efficient for the purpose of supporting economic needs of the citizens. It also ensures that services required by the citizens are available to the banking system and that are in the position of meeting the needs of the clients, (Mayer & Fox, 2010).
Strength and Weaknesses of Monetary policy as Compared to Fiscal Policy
In order to respond to this concept, one of the greatest questions that we should ask is the impact that the Federal Reserve actions portrays towards the federal budget. It is with no objection that the impacts of Federal Reserve’s actions on fiscal policy were less focused before the financial crisis. The aggressive response of the system on how it handles the issue of the financial crisis has developed several questions on the magnitude of the impact of fiscal policy. Over the last few years, the system has been discovered that it is accumulating liabilities and assets something that forces policy makers in developing concerns about the budgetary impact concept of the actions of the central bank. Since the time of the great depression, the system in 2008 responded on the issue of the worst financial crisis in an aggressive manner. Federal Reserve System slashed its banking lending rate to nearly zero percent which was one of the many unprecedented steps that were focused in solving the concept of the financial crisis. It was among those steps that were applied by the system in enlarging its balance sheet for the purpose providing stability and liquidity to the markets, (Mishkin, 2011).
Apart from the increased lending to depository institutions concept, the system come up with a new lending programs for non depository parties which were part of the participants in the markets, thus enabled this parties purchase long term and medium securities of the Treasury, and mortgage related to the Treasury. This made the federal system assume on some of the credit providing functions that assisted in the participation, in the financial markets. This was one of the roles participants were supposed to work on during times of the financial crisis, thus making one of the most immediate impact associated with the records of the balance sheet. In general, level of assets that were held by the system at any given time was high as compared to the amount that the treasury accounted at that given time, (Federal Reserve 2008).
Effects of Federal Reserve’s Action
It’s with no doubts that moving towards globalization has its disadvantages and advantages at the same time. Managing political risk and especially corruption is one of the risk aspects that occur when a country decides to go globalization. The domino effects occur when a country is unable to allocate its financial resources in the required manner thus creating a situation which impacts the investments of the foreign countries that it associates with. Despite other countries, US itself has a certain level of political risks that may affects even the domestic investors. In different studies, it is clear that corrupt official’s affects on the development of the economy simply because they account to about 30 percent of unplanned activities before the money reaches the person intended. According to the World Bank statistics, corruption is believed to be one of the largest threats to social and economic development and bribery which in one, year is estimated to revolve around one trillion dollars. The concept of corruption affects development aid factors because donors tend to become afraid on how their funds will be accounted thus decrease their willingness of supporting any activities, (Mishkin, 2011).
Federal Reserve System is faced with the concept daunting task simply because there should be an implementation of policy tools that help demonstrate and work on foreign markets and solve problems that may affect the economy of the country. For the developed countries, they future deposit insurance and ensure that a standard concept of bank capital requirement in maintained at all areas. The concept of increasing standards for the international banking system is going to help in the business operations as it has been demonstrated earlier with the interdependence of commerce and trade. Some challenges include the concept of corruption and transparency that should be maintained when developing the economic growth strategies.
Estrella, A., & Mishkin, F. S. (2008). The yield curve as a predictor of U.S. recessions. Current Issues in Economics and Finance, 2(7), 1-5. Retrieved from, http://www.ny.frb.org/research/current_issues/ci2-7.pdf, on May 27, 2013
Federal Reserve (2008). Board of Governors of the Federal Reserve System. Retrieved from, http://www.federalreserve.gov/monetarypolicy/fomc, on May 27, 2013
Mayer, D. A., & Fox, M. E. (2010). The Everything Economics Book. Avon, MA: Adams Media
Mishkin, F. S. (2011). The Economics of Money, Banking, and Financial Markets. HarperCollins College Publishers New York
University Success Guide
This paper presents an assemble guide on my personal success that gives me a foundation of my success. The first section is on Program Resources that will involve my personal; views concerning APA style and form, annotated bibliography searching the library and plagiarism. The second section is on Motivation Touchstone that shows the aspects that motivate me to continue with my education program.
- Program Resources
Searching the library
The learner’s portal clearly shows that my lecturers need assignments to have a cover sheet with faculty name, grade earned, date graded and writing score. I believe that this university will equip and prepare me for my goals of becoming a professor, superintendent and department director in health or business. After completing my PhD in the coming five years with my PhD in business administration, my focus is in organizational leadership. I hope to be an online professor or attain a position in health or business management. To find job opportunities, I will research on great websites that offer business jobs. Such websites include; http://www.txwes.edu/academics/business/careersInBusiness.aspx and https://career.berkeley.edu/business/business.stm. At this intermediate level of my studies, I can access the learner’s web portal.
Hope to get support from my mentors and advisors on the use of this university online library, American Psychological (APA) formatting and the writing center (American Psychological Association 2010). Through the use of tutorials for the writing center and library, I will find helpful resources to help me all through my degree program. The manual on APA will guide me on the style’s requirement in every section (Basics of APA Style Tutorial, 2012).
It is important for me as a student to know to rephrase ideas so as to avoid unintentional and intentional plagiarism. I will ensure that I maintain the integrity in every course and assignments. These are term papers, assignments, and other projects required to do by my faculty member. I should ensure that I cite every source to ensure that I avoid plagiarism and low grades (The University of Wisconsin, 2013).
In writing annotated bibliographies, the header will include the last name, followed by the first initial, code, dash and assignment (University of Canberra, 2013). The justified number is on the left. Each resource is stated showing the author's name, place of publication, volume and issue. I will later state briefly about the source and how the author’s arguments will help me in a research study (Purdue Online Writing Lab, 2013).
B Motivation Touchstone
What is in mind is ordained by itself and shall be achieved. Learning strengthens characters and provided clearly thinking to a person (The Critical Thinking Community 2012). This is my motivation touchstone that shows my goal and how this discipline gives me the motivation to proceed to high academic level
On a daily basis, I will take time to rewrite and review goals. Some of my daily goals include eating healthy and exercising and undertaking a sport that requires effort. I also involve myself in prioritization. This means that I have to do things activities and assignments needed urgently. These actions include analyzing and reading journals on annotated bibliographies, defining the dissertation topic, collaborating and developing networks with professionals in business management filed. Breaking down the long-term and daily actions will help me prioritize and see the goal clearly. It will be a challenge to hit a target of successfully completing my master’s degree when I cannot plan my daily actions. Another vital aspect I consider towards my goal is aiming beyond the mark. This means that my goal should not be simply finishing my course but its attaining good grades in every unit. Earl Nightingale says that people who have goals do succeed because they know where they are heading to in the future.
Maintain 3.7 or greater Grade Point Average at this university.
Maintain and follow the schedule with Masters Education courses in this university so that graduate in 2014.
Ensure that I work of every assignment on each day at least for one hour.
In order to avoid conflicting personal and professional priorities, I will remain two assignments ahead at every given time that these conflicts arise.
I will look for employer reimbursement for about eighty percent of classes. These educational goals give me a sense of direction in my business management program of this university.
Write down to- do lists. Compare goals on a daily basis using daily planner and track appointments.
Keep a healthy balance between personal time, professional and school time. My family is the leading priority.
I will find time to relax and recharge every day. This will include sleeping early and not to be obsessed with personal, school and work matters as well as learning mediation.
I will remain organizes and watch my progress every time.
Apply the skills I have learned in business management program for my online teaching job. Having and maintaining a proactive approach by use of a daily tracking system that will assist on priorities and to-do –lists.
I will expand office and Windows skills based on the availability of much newer versions unlike before (Kozub, 2010).
I will continuously learn new skills from web base and online base classes.
I will enhance presentation and training skills with any given opportunity (Krames, 2003).
The challenges I might experience include taking my eyes off my end goal. Another challenge is poor management of time, which will make me fail to prioritize on my daily activities and long term goals. In my journey towards the attainment of my goal, I will have to reduce and prevent stress, and improve my personal life. I will also have to master how to designate tasks according to the ABCDE rule. The rule helps me as follows
A means top priority and high consequences. B means low consequences
C means pleasure and enjoyment with no consequences. D is to delegate tasks and E means elimination.
Having a clear vision will require me to look into my heart. Carl Gustavo Jung ones said that having a clear vision is by looking into the heart. My vision is on continuous learning and being committed to lifelong learning that presents healthy balance of life, play and work (Lai, & Lam 2010). I will work to incorporate new skills and improve the existing ones so as to ameliorate my actions and thoughts. I will use the library on my student portal for writing courses and attend business management workshops and conferences.
Opportunities;Francis Bacon pointed out that a wise man has more opportunities than one finds them. On my Family and personal life I will aim to balance in a creative and nurturing environment. I will be involved in interesting and creative hobbies, weekly plan meals. Be involved in fun activities with friends and families. Schedule ME time and always be gratified and express the feeling and attitude on gratitude. Driving points Show persistence. Make a way or find a way through challenges. Establish truth that will help me reach my goals and training my powers so as to continue climbing up the following day (Krames, 2003).
My goal is that my heartbeat be up to match with the nature and Universe beat. These goals are possible by obeying the university’s success guide, rules and regulations. My personal success plans are driven with the need to maintain my goal, development and chart of skills. Every night before sleeping, I will visualize my steps. This will not only help me to look at my overall goal but will make me dream about it; finally I will strive to stay positive, fight and be optimistic. I know that these goals will not simply come, but I have to work for them (Gass, 2013). Many times, people can from one time to another disappoint me and there are needed to overcome these challenges and never to feel discouraged.
The Writing Center @ The University of Wisconsin (2013) Successful vs. unsuccessful paraphraseshttp://writing.wisc.edu/_paraphrase.html
On May 26, 2013Cornell University Library (2013) Preparing Annotated Bibliography http://www.library.cornell.edu/.htm
On May 26, 2013
Gass, R (2013) Common Fallacies in Reasoning. Retrieved from http://commfaculty.fullerton.edu/rgass/fallacy3211.htm
On May 26, 2013
The Critical Thinking Community (2013) Developing as Rational Persons:Http://www.developing-rational-persons.cfm
On May 26, 2013
APA (2012) APA Style Tutorial . Retrived from http://www.apastyle.org/learn/tasics-tutorial.aspx
University of Canberra (2013)Annotated Bibliography and Academic Skills Program http/study skills/writing/bibliography
Purdue Online Writing Lab (OWL) (2013)Annotated Bibliographies http://owl.englishedu/owl/resource/614/01/
Krames, J (2003) Prepare the organization for drastic change. Pp. 131-152 Hill Professional Publishing.
Kozub, R. (2010) An ANOVA analysis of the relationships business students' learning styles and web based instruction. A(3), 89-98
Krames, J. (2003) Place the customer epicenter of the business model (pp. 55-77) McGraw Hill Professional Publishing.
Lai, I & Lam F (2010) Perception of various performance criteria by stakeholders in the construction. 28 (4), 377-391
Strategic Plan Paper and Presentation
Strategic managers must ensure that they have responded both to stakeholders and employees of the organization. Strategic management decision making entails social responsibilities and ethics. Stakeholders in the organization expect managers to fulfill ethical and legal economic decisions when running the organization.
Reasons for a Strategic Plan
Riordan requires a strategic plan so as to work on his activities. A strategic management plan will help the company focus on the efforts, goals, and objectives on long term sustainability and performance. Management of short term goals and objectives of the organization is easily attainable and relatively uncomplicated, but dealing with the aspect of longevity is difficult, and that is why a strategic plan is required to ensure that matters are well addressed. Strategic management in this case will provide a setting where a lasting framework for success will be established. Evidence shows that most firms fail to hold longer sustainable profitable operations through simple maintaining their business operations, and by this company requires a strategic plan which will ensure that proper management is developed. It is true that the world and economic markets are moving towards an evolving environment thus companies also need to transform so as to accommodate these changes that are experienced in the environment, (Wheelen & Hunger, 2010).
It is the work of the managers to ensure that they have used the right form of changes so as to move with the transformation and maintain the organization core objectives and missions. Strategic planning management helps in effectively realization of these changes and offers business managers and owners the opportunity to induce innovative thinking for purposes of preserving their competitive advantages. Just like any other company, Riordan requires a strategic plan. The plastic injection molding company provides international and national services to its customers through modern design capabilities of innovative plastic products. Riordan has a strong advert that gives attention on services and products through enthusiastic quality and extreme precision controls. By setting such kind of standards in competitive and lucrative industry, it is vital for Riordan’s success for the implementation of a strategic plan to manage sustained growth and long term profitability, (Merriam Webster, 2011).
Ethical and Social Responsibility
Social responsibility and ethical considerations occupy some roles in the Riordan’s strategic organization planning. In order to understand the role that social responsibility and ethical considerations occupy one need to understand the concepts of the above aspects., Merriam Webster (2011) defines ethics as the discipline that deals with what is bad and what is good and has a moral obligation and duty. Ethics in general helps set standards for morality which includes societal influences and pressures, meaning of ethics, culture, and different stages of moral development in the business setting. Ethics and social responsibility in an organization goes together but to some point social responsibility has some unique implications. According to Wheelen and Hunger (2010), the aspect of social responsibility towards a private corporation has responsibility of making a profit and beyond that it should focus on society responsibilities. Social responsibility and corporate ethics experts argue that business operations should not only focus on the concept of profit but also on how to help the society in other ways.
Some experts believe that corporations must meet four responsibilities when they are in operations, and these responsibilities are discretionary, ethical, legal, and economic. Other than focusing on a strict profit oriented approach, Riordan can ensure operations of success and greater returns to all parties involved by working towards a business approach concept. External and internal environment scan will help this firm decide what social and ethical concerns are required in the strategic plan. The company is currently operating in a changing world which means it has to participate and pay attention to its operations else it will collapse. Evidence shows that socially and ethical role of Riordan develops some impacts to future generations, international and local communities, stakeholders, employees, and customers. The company may develop a strategic plan so as to satisfy the above parties else the company is at a risk of failing, (Wheelen & Hunger, 2010).
Merriam-Webster, Incorporated (2011). Ethics. Retrieved from, http://www.merriam-webster.com/dictionary/ethics, on May 30, 2013
Wheelen, T. L., & Hunger, J. D. (2010). Concepts in strategic management and business policy: Achieving sustainability. Prentice Hall
The target of all private corporations is to make sufficient profits. Thus, firms seek to establish pricing strategies that will guarantee the firm’s owners sufficient returns on money invested in the business. Cost-plus pricing seek to achieve this objective by calculating the organization cost of production and then adding a certain percentage of to this cost in order to come up with a price (Collier & Agyei, 2008). This strategy is also referred to as mark-up pricing. The additional value that is added to the cost of production is referred to as the mark-up.
In order to use the cost-plus pricing, the organization must be capable of determining the production cost for each unit (Collier & Agyei, 2008). This means that an effective costing approach must be available. The costing approach should factor all the cost elements including fixed costs, indirect and direct costs. A predetermined percentage is used to determine the value that the firm will add to the unit cost to come up with the price.
The mark up value is determined by a number of factors. One of these factors is the company’s competitive priority (Godfrey, 2012). Companies that use price as their source of competitiveness have to add a small mark-up in order to keep the prices at low levels. This is because these companies depend on high volume rather than high margin in order to make sufficient profits. Companies that depend on high margins, in order to make profits, have to include a high mark-up value. The cost-plus pricing is an effective strategy for maximizing returns. This is because this strategy ensures that the prices cover the organization’s costs and that an additional value is added so as to generate returns for the company.
Collier P. & Agyei S. (2008). Management Accounting. USA. Elsevier Publishers
Godfrey E. (2012). Cost-Plus Pricing. May 29, 2013. http://smallbusiness.yahoo.com/advisor/cost-plus-pricing-strategy-120017163.html
Personal Professional Development Plan
Goal: Using technology to enhance instruction
As a future teacher, I am strongly interested in pursuing the personal professional development goal of using technology in order to enhance instructions. In essence, this goal focuses on boosting my level of proficiency in the use of technology as an integral component of the instructional framework. I consider technology as an excellent platform for streamlining the overall mechanism of efficiency of instructions in the classroom. Through technology, I will help enhance cognitive development among my students and also contribute positively towards their knowledge base. In the 21st Century, technology is an essential component of almost all dimensions of life. Consequently, integrating it into my instructional plans will help in developing students towards the attainment of competitiveness. In this professional development plan, I will exemplify how I intend to actualize this goal as a teacher. This will be enhanced by adequate research into the topic.
Research on the Use of Technology in the Enhancement on instructions
The integration of technology in the enhancement of instructions has been researched extensively. While some researchers have focused on its implications in the learning process, others have sought to identify the most effective ways of integrating it into the classroom setup. It is thus pertinent to examine such frameworks as depicted in current research. From the perspective of implications, among the most notable merits of technology pertains to the enhancement of motivation (Goldin, 2009). The use of technology in instructions has an inherent capacity to motivate students.
In any educational setting, motivation is among the most crucial aspects of learning. It is massively crucial for the teacher to inspire the students. Such a framework can be boosted magnificently through the integration of technology. Based on current research, technology is also massively advantageous in terms streamlining accessibility to course materials. When instructional materials are provided in digital format, the framework for accessibility is significantly enhanced.
Most teachers are challenged by the task of providing adequate materials to students for different courses (Jones, 2009). This can significantly hamper the outcome of the entire learning process. However, the use of technology in instructions helps in the alleviation of such challenges. Technological platforms are also highly beneficial in boosting the framework for differentiated instructions. In essence, differentiated instructions focus on the diverse educational needs of different students. For instance, some students can easily grasp concepts while others take time. In contrast, it takes a lot of time for some students to understand a given concept. In view of such perspectives, effective plans are required for differentiated instructions. The use of technology helps the teacher to develop an exquisite instructional plan that addresses the different educational requirements of different students.
Educational technology has excellent platforms for focusing of numerous aspects of a given concept. This underlines the significance of using technology in the development of instructional plans. The effectiveness of using technology in instructions is strongly dependent on the proficiency of the teacher in educational technology. Inadequate proficiency can significantly undermine the teacher’s capacity to implement technology-based plans. Time efficiency serves as another crucial outcome of using technology-based instructional plans (Reed & Prey, 2009).
For any teacher, it is extremely essential to ensure that the various contents of the curricula are delivered within the stipulated time framework. The completion of the curriculum content in time facilitates for the attainment of the expected learning goals. The conventional platforms for instructions can be significantly ineffective in the enhancement of timeliness within the teaching process. This is different from technology-based instructions (Facer, 2011). For instance, the teacher can cover extensive content in the curriculum using slides in class. These dynamics depict the excellent benefits of using technology in instructions.
Personal Implementation Plan
In order to implement the goal successfully, I will use a systematic approach that comprises of different stages. The first stage of the plan pertains to the identification of core objectives of the entire framework for integrating technology in the instructional design. My objective for using technology is to streamline the quality of the learning process for all students. Additionally, I also have the objective of contributing towards the cognitive development process of my students.
The second major stage of the implementation plan is the identification of the most effective technological platforms for integrating into my instructional plan. In essence, this encompasses the specification of the actual technological components or elements for use in instructing students. The technological components I have chosen include personal digital assistants (PDA) devices, PowerPoint Presentations, the internet, and other forms of electronic correspondence (Reed & Prey, 2009). I will provide most of the learning materials in digital format. This will not only enhance convenience but also avert the potential wastage of time. The PowerPoint Presentations will be useful in boosting the attention of students in the classroom. Consequently, the selected technological components will help me in enhancing the quality an outcome of instructions.
The third stage of my implementation plan pertains to the evaluation of resource needs for the technology elements. I will consult the school’s administration for them to facilitate the acquisition of all the identified technological platforms. I will also review the effectiveness of the plan frequently. The review will help me in the alleviation of any pitfall or loopholes within the entire implementation framework. This goal aligns to the different stipulations and concepts provided by Kellough and Jarolimek in their publication. For instance, the use of technology helps in enhancing the teacher’s standards of responsibility while instructing students (Kellough and Jarolimek). Consequently, this goal is essential in the enhancement of teaching efficiency.
Costs and challenges for the plan
While my personal plan for using technology to enhance instructions has extensive merits, I anticipate various challenges and pitfalls. It is highly likely that some students will take time to adapt to the different technological components used in the instructional (Facer, 2011) framework. For instance, some students might not necessarily proficient in the use of personal digital assistants. However, I will train them effectively in order to overcome this pitfall.
I also anticipate that the school administration or board might be reluctant to provide the resources necessary for the actualization of the plan (Jones, 2009). However, I will enlighten them about the projected benefits and implications on the efficiency of the entire instructional process. The alleviation of these pitfalls will massively streamline my goal for using technology to enhance instructions.
Proposed Timeline for Implementation
A timeline is crucial in the implementation of any plan. Following is a breakdown of the proposed timeline for implementing my plan.
- The specification of objectives: 1 day
- The assessment of implications: 2 days
- The identification of technology components: 1 week
- Seeking approval and resources: 1 week
- Actual process of incorporating technology in instructions: 2 weeks
Based on the proposed timeline, a period of one month will be sufficient to kick-start my plan for integrating technology in the framework for enhancing the efficiency of instructions. Consequently, this goal is highly achievable. It will also contribute positively to my impact on students as a teacher.
Facer, K. (2011). Learning futures: Education, technology, and social change, New York, NY: Taylor & Francis
Goldin, C. D. (2009). The race between education and technology, Harvard: Harvard University Press
Jones, A. (2009). Education and technology for a better world, New York, NY: Springer
Kellough, R. D., &Jarolimek, J. (2008).Teaching and learning K–8: A guide to methods and resources (9th ed.). Upper Saddle River, NJ: Prentice Hall
Reed, R. H. & Prey, J. C. (2009). The impact of tablet PCs and pen-based technology in education, Purdue University Press
PDQ Application Case
Quality metrics are essential components of any project process. In essence, the metrics are pertinent indicators of the overall progress of a project. Through the quality metrics, it is considerably easier to establish the relevant corrective measures for the project. The Pizza Delivered Quickly case study comprises of numerous phases which have been subdivided into six subsystems. Consequently, the overall efficiency of the project is dependent on the integration of pertinent quality metrics. Such a framework will facilitate for the project evaluation and also its alignment towards the main organizational goal of boosting performance. Different subsystems of PDQ can benefit extensively from the PMLC models. The logistics subsystem can be streamlined immensely using the agile project management approach. Additionally, PMLC models such as the traditional approach can be integrated into different phases of the entire PDQ project. Quality metrics are influential indicators which will streamline the efficiency of the new computer systems for PDQ. These aspects form an essential aspect of analysis in this case. The analysis also focuses on the actualization of the trigger values and the relevant PMLC models for various projects in the case.
Question 1: Quality Metrics for PDQ
In project management, metrics facilitate for an evaluation of the progress attained in connection with the different goals. The PDQ case is not an exception in line with this aspect. It is essential to specify the best quality metrics for this organization as it seeks to implement different subsystems for streamlining sales. The first pertinent quality metric for PDQ pertains to the turnover yielded from the six subsystems. This metric is crucial in that it depicts the implications of the different subsystems on the organization’s sales.
High turnover will serve as a positive metric. In essence, this will indicate that the different subsystems have contributed positively to the overall sales and hence productivity of PDQ. In contrast, low turnover will be an indicator that the different subsystems have not boosted the sales and overall performance of PDQ. Apart from turnover, another quality metric for PDQ pertains to defects (Clements, 72). This metric encompasses the defects emanating from the different subsystems. Such defects are easily notable as the different subsystems are actualized. The absence of defects will indicate high levels of efficiency among the subsystems. However, many defects act as alarming signals and adequate corrective measures should be established. The framework for quality metrics also encompasses stakeholder involvement. The success of any project is immensely dependent on the framework for stakeholder involvement. This is an excellent metric that depicts the extent to which the different stakeholders have been integrated into the implementation framework of the project.
Inadequate integration of different stakeholders is a metric that depicts potential inefficacy of the project. Similarly, high levels of stakeholder engagement are metrics for success with regard to the different subsystems. Goal attainment serves as another crucial metric for this project. In the establishment of the computer operations project, PDQ has numerous goals. For instance, the company wants to expand its market share for pizza. In line with such goals, targets are essential quality metrics (Karzner, 95). The targets facilitate for frequent assessments of the progress attained in line with each project.
The specification of trigger values is massively essential as pertains to the framework of quality metrics. For the turnover, a trigger value of 15% will be set. When the trigger value is set at 15%, it will be easier to measure the quality metric fro turnover. From the perspective of defects, a trigger value of 20% will be used. This value is based on the number of defects identified for any subsystem. It is pertinent to establish corrective measures for the different trigger values. The corrective measures will be actualized when the quality metrics fall below the trigger value. One of the most essential corrective measures is the review of the requirements for each subsystem. Adjustments of the requirements will facilitate for adequate corrections in the respective subsystem (Hedeman, 120). Another corrective measure is the change of the PMLC model for the underperforming subsystem. A review of PMLC models will enhance the integration of adequate stopgaps for the different shortcomings.
Question 2: PMLC Models
The PDQ application case study encompasses six subsystems. While some subsystems focus on the pizza factory locator, others emphasize on order entry and inventory management. In line with the diversity of subsystems, it is immensely pertinent to evaluate the PMLC models which align to different subsystems. The traditional project management model would be immensely valuable to the PDQ subsystems which have precise requirements and solutions. Consequently, the traditional PMLC would greatly benefit the order entry subsystem (Webber, 26). The solutions and processes of the order entry subsystem have been specified. For instance, this project can be actualized using the COTS software. Additionally, this project narrows down on the general business functions. Consequently, the traditional PMLC model would align to this subsystem.
In contrast, the PDQ project encompassing the logistics subsystem has numerous complications. In view of such complexities, the agile PMLC model would be highly suitable. This is because of the model’s inherent capacity to deal with any kind of uncertainty. The level of uncertainty is also considerably high in the Order Submit project. For instance, the logistical framework for this subsystem is unclear. Based on such attributes, the agile PMLC model would be massively beneficial. The integration of PMLC models into the different PDQ projects will provide an exemplary framework for the enhancement of metrics quality. Additionally, the different targets can be measured effectively through the use of the relevant PMLC models. The models are also helpful in the mitigation of numerous risks that characterize projects (Wysocki, 76). The PDQ project for computerized operations is immensely sensitive to risks. For instance, virus attacks can hamper the company’s entire system for inventory management. However, such perils are averted through the integration of relevant PMLC models.
Quality metrics are influential indicators which will streamline the efficiency of the new computer systems for PDQ. The different metrics for the entire project have been identified. The indicators will also facilitate for the implementation of adequate corrective measures. High turnover will serve as a positive metric. In essence, this will indicate that the different subsystems have contributed positively to the overall sales and hence productivity of PDQ. In contrast, low turnover will be an indicator that the different subsystems have not boosted the sales and overall performance of PDQ. In the establishment of the computer operations project, PDQ has numerous goals. For instance, the company wants to expand its market share for pizza. In line with such goals, targets are essential quality metrics. The targets facilitate for frequent assessments of the progress attained in line with each project.
Clements, J. P. (2012). Successful project management, Mason, OH: Cengage Learning
Hedeman, B. H. (2010). Project management, Van Haren Publishing
Karzner, H. R. (2009). Project management: A systems approach to planning and scheduling, Hoboken, NJ: John Wiley & Sons
Webber, L. (2012). IT project management essentials, New York, NY: Wolters Kluwer Law
Wysocki, R. K. (2012). Effective project management: Traditional, agile, extreme managing complexity in the face of uncertainty, Indianapolis, IN: John Wiley & Sons
Joanne Hopper Tumalet Software Strategies To Improve Energy Efficiency
Tumalet is a large software company located in Silicon Valley California. The company is committed to improving energy efficiency and reduce the emission of Co2 as part of establishing a sustainable business strategy. In the past five years, the company has invested half million dollars on energy projects. These projects have led to the company saving US $600, 000 a total return on investment for 120%. The current downturn of the business and the rapidly rising prices of gas and electricity are focusing the company to find new ways of reducing and minimizing energy costs and the effect of price increase towards its operations.
Fuel and Energy efficiency are a type of thermal efficacy. This means that the efficiency of processes that convert the potential off chemical energy in fuel carrier to work or kinetic energy. Energy efficiency means the use of low level of energy in the provision of the same energy service. Tumalet is faced with the challenge of increased cost from the escalating gas and fuel prices. It has to find ways to minimize costs and impact of fuel prices to its operations.
Tumalet has succeeded in improving energy efficiency. It has established the use of retro-fits that are simple and quick. The company has also adopted the use of low-energy bulbs and dimming lighting of hallways at day time. The low-costs policies of the company in turning down electricity and maintaining cleanliness have resulted to major savings. As an office building, the energy consumption rate is as follows 27% heating, 25% cooling, 17% lighting, 25% office equipment, 5% ventilation and 1% cooking. Despite of the improved energy efficiency strategies that Tumalet software has used, there is still need to generate ways of dealing with the increasing costs of fuel and gas prices and how these escalating cost impact on the company’s processes
The soaring prices of gas and fuel are likely to make Tumalet software to face serious business operations dilemma. This rising costs of gas prices are also likely to pass the prices to its customers, and this will make the businesses lose its customers; sacrifice profit margins or absorb costs. The price of gasoline determines the impact of gas prices.
It is essential for Tumalet software to determine the factors that lead to high level of power consumption. This can be done through increasing awareness on the need to save energy among employees. This is a method that involves changing employee behavior, altering process and buying efficient equipments that will cut down waste. Reduction of carbon emissions will require the company to follow strict grants and regulations to reduce its impact to the environments. Transportation is also another aspect that will require this company to train its staff members on efficient driving techniques that reduce energy spending.
The company has to generate new ways that support and encourage the involvement of staff members in energy efficiency. Tumalet software needs to establish options of offsetting and reducing the emission of carbon dioxide. The company has to have feasible sources for renewable energy and other benefits. The company has to have a schedule for long term and short-term measures of saving energy. The company can also consider other measures that aim at establishing sustainable business strategy such as the management of waste, transportation and water conservation and product packaging.
Dubicka, I, Okeeffe, M and Cotton D (2011) Market leader. The Third edition. Pearson, Longman. P 146-147
The aspect of globalization has made thousands of companies making a shift toward becoming a global concept after they have discovered on the benefits of going global. It is a shift towards an interdependent and integrated world of the economy that supports globalization of products and globalization of markets. The ending of international market barriers has enabled most companies find consumers of their products and gets raw materials at a cheaper cost. Preferences and tastes from consumers have assisted in the process of creating a global market simply because no one is ready to use something that he doesn’t want to knowing can get what he wants elsewhere. The process of globalization develops positive as well as negative impacts towards environment, human nature, political system, culture, and economic development. There are a number of trade international theories that have assisted in the process of creating a global market. Comparative advantage theory, mercantilism theory, new trade theory, free trade theory, and the absolute advantage theory are some of the international theories that support on the concept globalization. We can sum up by saying that the concept of globalization focuses on the integration and communication among different nations, organizations, and consumers through the help of international trade, (Hill, 2009).
Evidence shows that there are several drivers that underline the continued trend found in the global market, in the current culture. One of the drivers is the decline in barriers to the free flow of capital, services, and goods. It is clear that organizations and firms work and produce goods at the optimal location in a given activity. The reason why the concept of globalization is developing is due to the fact that most countries are concentrating on the areas that they believe they have potential other than engaging in the process of producing everything all together, and they have no potential. Overcoming market blocks such as retaliating trade policies, high tariff, and foreign direct investments have contributed to the opening of the global world market for all parties, (Hill, 2009). Technology change is another driver which has played the role in the current dramatic developments in transportation technologies, information processing, and communication in different human needs aspects. Smartphones and development in the use of the internet are some of the examples of technological changes, which have contributed, towards development of global market ideas. Education and geography are another form of driver of globalization. Most nations have invested in education and are working hard to get the best level of education for people so as to improve their living standards.
Although the concept of globalization focuses on positive impacts, it has also developed some effects in the society. Globalization has affected nearly every business in the world of operation simply because it has to work harder as compared to the past. Most companies, which have established, operations in the global market are able to outsource labor, technology, and raw materials from other countries. In the place where I work, we have managed to get specialists from abroad who help the organization increase the level of skills and knowledge required to attend to clients. In the community, I think globalization has enabled the society experience a better lifestyle simply because they are able to get their needs at any given time without struggle, (Hill, 2009).
Hill, C. (2009).International business: competing in the global marketplace. New York: McGraw-Hill/Irwin
Internal/External Driver Of Innovation For The Organization
Many organizations are currently relying on innovation to survive the changing market, offer product and services differentiation, meet the demands of customers and remain competitive. Therefore, understanding the drivers of innovation is crucial to managers and would-be managers. This week discussion of internal and external drivers of innovation gave such an important exposure in the management of organizations.
Innovation in an organization is driven by both internal and external factors. Different scholars have come up with models that explain these drivers of innovation. Managers are tasked with the responsibility of ensuring an organization adapting and maintaining an innovation culture in an organization. This process requires managers have detailed knowledge on the drivers of innovation. Some of the key drivers of innovation as identified through the week include employees (the individual), organization culture, processes with the organization, incentives to innovation, psychological environment with the organization, the physical environment within which employees work, economic climate, and geopolitical culture. These factors are further classified into internal and external factors.
The internal drivers include individual employees, the culture of the organization, incentives for innovation, technology use and processes within the organization. Individual employee drive to innovation is a crucial fact to consider in an organization. Individual employees are one of the key drivers of innovation. It is, therefore, important for the organization to create the necessary environment that promotes individuals to innovate.
The organization should offer a conducive physical, psychological and procedural environment to promote innovation. Most of external drivers of innovation emanates from factors beyond the control of the organization. They include market factors such as change in customer preferences or introduction of a new competitor.
Event Concerning Public Health
In the past few decades, in the healthcare industry, the issue of recording patient information has been a major problem that has affected how patients get healthcare services. Most health care facilities have been using paper work something that make it hard to store patient’s health information. With the increase in technology in the field of health care, health care facilities have decided to improve their services by making some of their activities digital. A good number of health care facilities have gone digital where they have adapted the use of electronic medical record which has assisted in providing quality health care services to patients. EMR in the healthcare industry has a lot of benefits, and that is why most health care facilities have decided to go digital and use this technology.
In order to ensure that health care facilities have changed into the world of technology, some type of leadership styles have been used. In this case, democratic leadership style has been encouraged and applied in campaigning for this change. The participative aspect of this leadership style has been encouraged so as to help employees accept the change and welcome the use of EMR in their operations. Employees in the lower management levels have always been consulted on matters of technology for they help take care of the patients and advising the company on its development nature, (Lussier & Achua, 2010).
This leadership style has assisted the world of public health simply because employees are encouraged and recognized in their everyday activities and that has improved the quality of healthcare provided to patients. I believe the developments that have been realized in public health industry are simply because of how democratic managers allow their juniors to participate making decisions of the nursing industry. The style has been effective in ensuring proper development among employees and the healthcare industry at large, (Blanken, 2013).
Blanken, R. (2013). 8 Common Leadership Styles. Retrieved from, http://www.asaecenter.org/Resources/ANowDetail.cfm?ItemNumber=241962, On May 17, 2013
Lussier, R., & Achua, C. (2010). Leadership (4th ed.). Mason, OH: South-Western Cengage Learning.