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Role of Bank Capital Essays

Role of Bank Capital Essays Role of Bank Capital Essay Role of Bank Capital Essay Introduction The main aim of this report is to identify the key roles played by bank capital in the banking business. This report briefly outlines the main functions of bank capital and takes a brief look at the benefits of bank capital to the bank and the banking industry. It is hoped that from reading this paper a general understanding of the roles of bank capital in the banking business can be gained. Bank Capital A banks capital also known as equity is the margin by which creditors are covered if the banks assets were liquidated. A bank must hold enough capital to protect lenders and depositors from losses and also allow the bank to meet its customer requirements. Banks must maintain capital levels equal with the amount of risks assumed and hold enough to weather severe and considerably long financial storms. Roles of Bank Capital Banks are susceptible to many forms of systematic risk which at times can evolve into industrial crisis. The risks they face include credit risk, market risk, business risk and interest rate risk to name a few. And bank capital plays an essential role in the absorption of losses related to these risks. Credit Risk Credit risk is the risk that an obligator will not make future interest payments or principle repayments when due and is the main risk faced by banks, considering how large global financial markets are and the proportion of transactions that may be at risk. Credit risk tends to vary with the business cycle as initial rapid expansion results in falling spreads, and a decline in credit widening spreads with banks being hit by large loses as the spread widens. Banks are taking on more diverse forms of lending including direct finance, margin lending, over the counter derivatives transactions with the high number of potential defaults in these areas exposing them to large amounts of counterparty risk. There is also credit risk involved with futures brokerage involving intermediaries and the substantial credit risks from settling foreign exchange contracts which are often underestimated. Credit risk also may exist in credit derivatives and asset securitization transactions. To protect themselves banks need to identify the type of credit risk correctly, price it accurately and maintain adequately high amounts of capital in both good times and bad times. Market Risk Capital also protects banks against market risk. This is the risk associated with the movements and volatility in market prices which can cause large swings in bank profitability. Continuous changes in technology and market creativity are resulting in ever changing financial products and market risks making evident a relationship between markets that we had previously thought of as unrelated. These unpredictable changes require banks to maintain strong capital levels especially with the period a bank has to alter its risk profile becoming shorter due to greater competition. Business Risk Capital also provides a cushion against exposures to elements that can impact on the firms’ activities and may result in the bank losing ground relative to its competitors or failing to earn a market rate of return. Bank capital is a crucial aid in relation to operational risk which may result in loss by a bank of its critical business operations due to a disaster such as loss of a communications system which can lead to fraud or processing errors. With the continuing diversification of banking, the growing concentration of the crucial payments, the fast pace of financial innovation and settlements, the importance of operational risk is rising and bank capital becoming more crucial in this area. Liquidity Liquidity is the ability to fund increases in assets and meet obligations as they become due. Banks still play a crucial role as liquidity providers in the global economy especially during market shocks or economic turbulence. Adequate bank capital helps reduces liquidity risk, that is, the risk that many depositors will request withdrawals beyond available funds. Banks have managed the general expected liquidity demands since the beginning of the banking business with occasional mismatches exposing banks to interest rate risk, which is the risk that the bank will become unprofitable if rising interest rates force it to pay relatively more on its deposits than it eceives on its loans. Normally this risk can also be managed easily by hedging interest rate changes by the use of derivative instruments. However unanticipated system wide shocks result in a greater demand for liquidity and are far more difficult to deal with. At such times significant liquidity demands emerge from both a banks asset and the liability side. Refinancing short-term debt in the money markets is liabili ty related and off-balance-sheet exposures can unexpectedly come onto the assets side of the balance sheet. Therefore a bank must be prepared when there is a market wide scramble for liquidity and be able to manage funding challenges and unplanned asset expansions simultaneously by having sufficient bank capital. Promote economic growth A strongly capitalized banking sector also is better able to promote innovation, whether in the form of new products, new services or new distribution channels. Banks do not just hold capital to overcome distress, but also because it provides them with financial flexibility. Banks with a strong capital base can take advantage of growth opportunities. A strong banking sector made up of banks with strong capital bases, is better able to supply credit to businesses and fund investment opportunities that promise to encourage growth, create employment and contribute to a stronger economy. On the other hand a weak banking sector with banks unable to function effectively as risk intermediaries inevitably leads to inadequate credit and liquidity in financial markets and to banks that are unable to help boost the productivity of the economy. Clearly this has a grave social impact given the importance of credit and liquidity to the overall economy. Benefits of strong bank capitalization Well capitalized banks will be able to continue with there normal lending practices in the event of an economic shock and will not be forced to reduce their asset base. As well as this they are able to assist weaker banks through the provision of deposit insurance premiums. Sufficient excess capital reserves enable banks to enter into large ventures without having to raise new capital. Banks are not inclined to take on numerous high risk borrowers purely for the potential benefit of high returns as they are not desperately seeking profits to increase their capital base. Excess capital holds the benefit of avoiding high financing costs. An example would be a bank having to pay a high rate of interest on loans from other banks if the banks excess capital reserves are found to be insufficient. With fast-paced technological change predominately in the information systems area well capitalized banks are cushion from the enormous costs of, for example total system upgrades. Finally a banks reputation will suffer if the bank finds it difficult to meet the regulatory body’s capital requirements. Large banks wish to keep their good ratings and therefore have considerable high capital reserves because rating agencies make demands regarding the banks excess capital reserves as a condition for a high rating Conclusion The role of capital is to act as a buffer against future unexpected and even relatively remote losses that a bank may incur and be a source of liquidity. Because banks can both create demand deposits and provide credit they act as shock absorbers during times of turbulence providing safety to risk weary investors and liquidity to borrowers. The dramatic effects of weak banking systems can be seen in both developed and developing economies and the repercussions these have had on financial markets everywhere. Each occasion is a reminder of the need for strongly capitalized financial institutions. References Viney C 2007, McGrath’s Financial Institutions, Instruments and Markets, McGraw- Hill Mehta D, Fung H 2004, International Bank Management, Blackwell Publishing, Oxford, UK Bacon F, Tai S, Shin, Suk H, Garg R 2004, Basics of Financial Management, Copley Publishing Company, Action, MA Berger A N, Herring R J, Szego G P 1995, The role of capital in financial institutions, Journal of Banking and Finance 19, Nos. 3-4. Diamond, Douglas W, Rajan R G 2000, A Theory of Bank Capital, The Journal of Finance, Vol. LV, no. 6

ADULT EDUCATION CURRICULUM Research Paper Example | Topics and Well Written Essays - 250 words

ADULT EDUCATION CURRICULUM - Research Paper Example The new perspective in adult literacy is that the focus should move from just acquiring new skills on numeracy and literacy to using these skills aught on community development perspectives. One of those models is the New Literacy Studies Model (NLS) which recognizes multiple illiteracies, James, C (2011). NLS takes into account the issue of contentions in relations of power varying in time and space that is in different cultures. It gives respect to social practices but also takes into account these same cultural practices can be impediments to adult literacy.NLS takes a multidisciplinary approach taking into respect innovations in cultural psychology and sociology with emphasis in social-cultural history and social practice theory. The approach goes beyond reading and writing as acquisition of new skills and emphasizes adult literacy as a means to examine ones position in terms of socioeconomic status, education, gender and race. The NLS approach has been widely used in the developing countries where adult literacy has been closely linked with alleviating the socioeconomic status of most communities and individuals, Armstrong, C (2010). With such basic skills in tailoring, carpentry, entrepreneur skills being taught hand in hand with writing and literacy skills. Most individuals have opened business with the skills learnt, raising their standards of living and the general economic status of their communities. James, C (2011). Literacy as social reproduction and social transformation: the challenge of diasporic communities in the contemporary period. In: International journal of educational development, 31 (6)

Explain in what ways the corecompetences and resource requirements Essay

Explain in what ways the corecompetences and resource requirements differ between a firsttomarket, secondtomarket and latetomarket innovation strat - Essay Example It is known widely that R & D is much valued in technological firm which increases value of the firm. Patents are looked upon as an offensive and a defensive asset. Offensively, it aids a technological company to earn licensing royalties and/or seeking an injunction to halt a competitor from shipping a product. Defensively, patent portfolio provides leverage to negotiate for a more favorable settlement. Hence, according to Coombs (1996), it is important for innovation firms to have their patent portfolio in line with their corporate strategies. For a first-to-market innovation strategy, patents act as an offensive role in the early stage to achieve market monopoly. However, this is not true for a recent example. Creative's core competency in the portable media player industry lies in its innovative capability to create value through innovations. It was reported that Creative was the first to market its first generation of portable media player in 2000. However, Creative neither achieves market monopoly nor dominates the market currently. After the patent was awarded to Creative in 2005, Creative sought an injunction that stop Apple from selling the iPod. The outcome was that Apple would pay US$100 million licensing royalties to use Creative's "Zen patent" for an MP3 player interface. Creative Technology's profits were then raised a record 11 times due to the lump sum payment from Apple. (News of the profit can be found at http://www.marketwatch.com/news/story/apple-profit-rises-78ipod/story.aspxguid=%7BCCF6CF6B-D2C6-435B-A5B2-E6D92872F777%7D) In this case, "Zen patent" helped to increase Creative's profits in the year of 2006, enhancing its roles. This agrees well with Robinson (1988) where pioneer firms benefit from patents to a greater extent than second-to-market and last-to-market firms. However, Creative Zen's market share is surprisingly lower than Apple iPod. Even though Apple lost to Creative in the court, Apple continued their patent filling for another invention: iPhone. More than 300 patents were applied for iPhone, proving that second-to-market firms do find ways to improve their technologies. On the other hand, last-to-market firms exit earlier than the first-to-market and second-to-market firms in the industry. Late-to-market firms might also have to pay licensing fees to first-to-market or second-to-market firms for the usage of their patents. For them to stay in the industry, they need to have more innovative products with new features which are able to define themselves. One example is Dell who entered the industry in 2003 and made the exit in year 2006. (The news was found in http://www.pocketlint.co.uk/news/news.phtml/) Unlike Apple, Dell was not able to come up with new products. 2.2 Marketing strategy Marketing strategy allows an organization to pool its resources on opportunities to achieve a sustainable competitive advantage. Creative Zen was outshadowed by Ipod in the market even though Creative Zen was the first portable media player in the market. It was reported that Apple dominated the MP3 player market in 2007 with 72.3 % market share. Creative Labs was 2.7 % market share while Dell was not even in the top 5. (News of the market share is found in http://www.bloomberg.com/apps/newspid=conewsstory&refer=conews&tkr=AAPL:US &sid=aggTRzHFt1Do) The market

Management Style essay Example | Topics and Well Written Essays - 500 words

Management Style - Essay Example In order to succeed in management, managers should possess some qualities. One of the qualities of a good manager is creativity. Creative managers have the ability to carry out projects within the organization effectively and efficiently. Moreover, creativity enables managers to combine all the organization’s resources and use them to enhance growth within the organization. The other quality that makes managers successful is through being team players. Good managers always ensure that they work with teams of employees and supervise the activities of each team to ensure that all team members are participating. Commitment is another good quality that a manager ought to possess; a manager should be committed to the success of the projects that the organization undertakes. With a committed manager, other employees in the organization can succeed even during trying times (Buchbinder, 2012). Buchbinder (2012) asserts that good managers should also be flexible and versatile. This implies that they can change their behavior based on the prevailing situation within the organization. In addition, flexibility enables managers to be open and accommodative to the views, opinions, and ideas of junior employees. Another good quality of manager is knowledge; managers should be well-equipped with the necessary skills and knowledge about management. Managers who are knowledgeable help employees learn about crucial aspects that enhance success and career growth. According to Buchbinder (2012), some managers possess poor qualities that can contribute to strained relationships with employees. One of the poor qualities that managers may have is being bullies. Some managers bully junior employees; this can be in the form of belittling and intimidating employees. This negatively affects the morale of employees and, in the long run, it can contribute to poor performance of the

Tourism is largest industries in uk

Tourism is largest industries in uk 1. Introduction Tourism is one of the largest industries in the UK. In accordance with VisitBritain (2009a) which is Britains national tourism agency, the economic contribution of tourism was worth  £114.4 billion to the UK economy in 2009 which is equivalent to 8.2 % of UK GDP. On the other hand, VisitBritain (2009a) also comments that, â€Å"The 31.9 million overseas visitors who came in 2008 spent  £16.3 billion in the UK, the figures represent a 2.7% decline in volume and 2.3% increase in value compared with 2007†. Apparently, there are some opportunities and challenges for a new comer in this industry. Therefore, if the company do not has effective scenarios to manage the uncertainty issues in future, the company will in danger, even can not survive. By research secondary data, and some analysis methods namely PSET and Impact/Uncertainty Model, this essay tries to seek the effective scenarios for AirFreedom Travel Agent which is first venture in British inbound tourism. Moreover, thi s essay will beginning with PEST analysis in order to examining the external factors. Secondly, Impact/Uncertainty model will undertake for finding the most important issues. Then, Scenarios will design for AirFreedom Travel. Lastly, the essay is going to analyse the impact of those scenario on the organisation. AirFreedom Travel Agent is a company first involved in British inbound tourism market, which provide variable services related to tourism, such as ticket booking and hotel reservation. OECD (2001) indicates that â€Å"inbound tourism is the tourism of non-resident visitors within economy territory of the country of reference.† The 31.9 million overseas visitors who came in 2008 spent  £16.3 billion in the U.K. (VisitBritain, 2009a). Moreover, according to a study undertaken by Deloitte (2008), the tourism sector created more than 2.75 million jobs, and the number of direct industry employment was 1.32 million. Unfortunately, both number of inbound visits and inbound visitor spending suffered from decline during the period from October, 2008 to September, 2009 by 9.2% and 0.7% respectively (VisitBritain, 2009b). The importances of U.K inbound tourism is not only the contribution to economy but also benefits other industry, namely retail industry and transportation. 2. Environmental Analysis (PEST) PEST Analysis stands for Political, Economic, Social and Technological Analysis, and it is a framework of macro-environmental factors for strategic factors. However, the company is involved in tourism and environmental issues are vital important for tourism. So this essay will examine those factors from five segments and appendix 9.1 shows the factors will assessed. 2.1 Political Political environment of U.K. is quite stable. It has positive impact on potential customers. U.K.s transportation infrastructure is both effective and efficient; London Heathrow Airport for example is the airport which the most international passengers landed in 2007 (ACI, 2007) and government plan to expand this airport for more landing capacity. The red double-decker bus is also a symbol of London. In addition, Border policy is another factor, entry fee is the direct result of it. According to UKBA (2008), â€Å"To encourage even more tourist a new shorter three-month group visa is being proposed at a possible reduced cost of  £44†. Apparently, the new visa fee policy is a positive factor. Due to growing awareness of the green issues, U.K. Government is planning to declare some policies to protect environment. For instance, on one hand, the main road fuel duty rate in the U.K. was  £0.5035 per litre in from 1 October, 2007 (OPSI, 2008). However, the latest increase to  £0.5619 per litre from 1 September, 2009 (HMRC, 2009). As a result, tourists will pay more for the transportation system in U.K. On the other hand, VAT on the airline ticket is also adds cost to travelling, namely Member states of E.U have a minimum standard rate of VAT of 15% (EU, 2006). Adversely, terrorism is always a significant negative factor influence on tourism. 52 people died in 7/7 London tube and bus bombings (BBC, 2008) and Shooting of Jean Charles de Menezes (Guardian, 2009) are two setbacks for British tourism which were happened in 7 July 2005 and 22 July 2005 respectively. 2.2 Economic Most countries of the world suffered from recession by Credit Crisis, except some nations namely China. Baily and Elliott (2009) comment that the GDP at annual rates for the first quarter of 2009 declined 14.4% for Germany, 15.2% for Japan, 7.4% for the U.K., 9.8% for the Euro area and 21.5% for Mexico. Recession resulted in less people travelling because of purchasing power is decreasing. Exchange rate of pound to foreign currency is not strong recently, so foreign traveller can spend less money than before for travelling U.K. For example, one Euro was equal to 0.68675 British Pounds in 21 November, 2005 (ECB, 2009) and one Euro was equal to 0.89915 British Pounds in 20 November, 2009 (ECB, 2009). Inflation is arising in the level of price of goods and services in an economy in a period time. For example, the inflation rate of U.K. year over year was 1.5455% which compared to 1.0879% for the pervious month (RI, 2009). It means you need to pay more money for the same commodity than last month, and it leads to increasing cost for travelling U.K. Seasonality is another issue need discussion because of holidays is the busiest time for tourism market. It also is a problem for this industry, after the peak season tourism companies do not have many deals. According to Visitbritain (2009c), the number of U.K. inbound tourists in 2008 was approximately 7.20million, 8.41million, 9.36million and 6.93million by quarter. The percentage of spending of travellers who visit U.K. was 19% and 32% in January-March and July-September in 2008 respectively. 2.3 Social As a result of the increasing concerned on environmental issues on tourism linked to such as carbon footprint. People who focus on the green issues will refuse to travel in order to reduce the CO2 emission. Spread of disease is vitally important for a countrys inbound tourism. People do not want to travel to places which spread serious disease such as SARS. In accordance with NHS (2009), ‘There were an estimated 53,000 new infections in the past week, down from 64,000 the week before. It is a negative symbol for U.K. inbounds tourism industry. Safe nations are more attractive than insecurity. Travellers do not want to be involved in crime during their journey. Home office (2009) points out U.K. experienced a 45% down of all BCS crime from 1995 to 2008/09 which is favourable. On the other hand, social event is another positive factor for tourism, such as FIFA World Cup. The examples in Britain are the activities of Royal Family and 2002 Commonwealth Games in Manchester. For example, Kuala Lumpur in Malaysia host the 1998 commonwealth games, and about 60,000 tourists visited Kuala Lumpur in 1988 (FCO, 2009). 2.4 Technological On-line booking is a method booking ticket of plane or other type transportation which is the result from rapid development of technology. It saves time and money of both companies and consumers. Furthermore, hospitality network system is another example for tourism industry. It is useful to the travelling agencies provide package service including flight ticket and hotel booking. Moreover, the technology development is also affecting the manufacture. Aircraft become more efficient, for instance new aircraft are 70% more fuel efficient than 40 years ago and 20% better than 10 years ago (IATA, 2009). It is not only saves the cost of aircraft operators but also reduces CO2 emissions. The efficient airplane resulted in lower price of ticket and lower air pollution. It attracts more tourists which is including people who are concern on green issues. 2.5 Environmental In the first place, the average total annual sunshine from 1971 to 2000 in U.K. was only 1354.9 hours (Met Office, n.d.). Secondly, the high latitude and close to a large ocean of the west caused U.K. experiences strong winds. After that, the average days of rainfall≠¥1mm were 154.4 days during 1971 to 2000 (Met Office, n.d.). Lastly, U.K. some times suffered from flood which is negative factor to tourism (Environment Agency, 2009). Graceful environment of the travel destinations is attractive. Environment of U.K. is pretty clean. According to EEA (2009), the measurement stations of air quality of U.K are slight. 3. Impact/Uncertainty Model Impact/Uncertainty model is an effective tool for examining the factors which are impact on British tourism. The chart below is the Impact/Uncertainty model for U.K. inbounds tourism. Terrorism always has negative impact on the destinations, especially, tourism. People travel to other countries in holidays for fun, and they do not the trip make their life in danger. For instance, the al-Gamaa al-Islamiyas attack happened in Eygpt resulted in 62 deaths, and 58 of which were overseas tourists (Essner, 2003). Essner (2003) is also cites that international tourists avoided came to Egypt owing to 13% decline in arrivals. On the other hand, it is difficult to predict. Meanwhile, exchange rate is direct related to the purchasing power of overseas tourists. Moreover, it is unpredictable because of the exchange rate fluctuates everyday. For example, recently, GBP is weak for exchange to Euro. It is a positive factor for attracting the tourists to U.K. from countries which use Euro. Another unpredictable factor is spread diseases, it influences not only the border policy which is resulted in more difficult to obtain visa but also the security of the destination. Additionally, people do not want go to the place which is possible infected diseases. Overseas travellers come to U.K. by several transportation methods, namely, aircraft, train and ship. All those transportation methods use fuel as energy. Therefore, the price of fuel is directly related to the cost of trip. Purchasing power of overseas travellers is another factor impacts on the British inbound tourism. Many factors have negative impact on purchasing power, such as recession, inflation and financial crisis. Extreme weather is not usually happened in U.K and the advanced weather forecast system helps government predict it. It is also resulted in the seasonality of British inbound tourists number. However, it still a negative factor to tourism, namely winds of up to 100mph have hit parts of the UK which was caused damage of property (BBC, 2009). Social events hold by Britain is also attracts tourists to travelling U.K. In future, 2012 London Olympic Games is a brilliant opportunity to encourage U.K. inbounds tourism. Most of the social events are applied by government, so the level of uncertainty is low, but high impact on tourism. For instance, in the last quarter of 1999, international visitor arrivals Australia increased by 15 per cent compared to the same time in 1999 (ATC, 2001). Environment pollution is not in the high impact and high uncertainty quadrant. Although environment is essential of tourism, and tourists put pressure on the area, namely overusing water resources in hotels and increasing plastic pollution. Consequently, new environmental legislations will regulate the market, but the impact and uncertainty level are low. 4. Scenario Planning There are four scenarios below designed for AirFreedom based on the findings of Impact/Uncertainty model above. Appendix 9.2 shows the developing of the four scenarios. The four scenarios will describe below. Scenario A: Crusades, it arises in the situation which U.K. suffers from terrorism and GBP is weak to other currency. It will leads to the demand of U.K. inbound tourism decrease in long-term and government will restrict overseas tourist enter to certain places. On the other hand, the infrastructure and environment will damage by terrorism. However, the travelling cost will reduce, and it will attract customers who take advantage of price. Scenario B: Pandoras Box happens when U.K. with terrorism and GBP is strong to other currency. It resulted in demand of U.K. inbound tourism dropping sharply in long-term and significant financial losses. Some problem namely rising unemployment rate and crime rate will increase. On the other hand, the government will declare entry regulation owing to terrorism. The situation of Scenario C: Heavenly Love is similar to the present which U.K. inbound tourism is a â€Å"sunset industry† without terrorism and GBP is weak to other currency. Due to the circumstance, the travelling cost will decline and U.K. government will encourage inbound tourism for example, overseas tourists easy to obtain entry clearance. Scenario D: Seraphim occurring when GBP is strong to other currency and without terrorism. As a result, the demand of U.K. inbound travel reduce in short-term due to the costly tourism spending. Instead, overseas travellers will go to alternative destinations and possibly U.K. government will encourage this industry by entry policy. 5. Analysis AirFreedom as a new player in British inbound market, those scenarios are vitally important for the company, because of the trend of British tourism is directly related to not only the external competition but also the internal operation of AirFreedom. The table in appendix 9.4 shows the implications of each scenario on the company. Crusades: the market share will rapidly decrease in long-term and the company need to afford extra expense to hire security staff. On the other hand, AirFreedom will focus on the tourists who take advantage of price under this circumstance by penetration pricing strategy. Moreover, the company should consider about reduce the price of service by cooperation. Pandoras Box: the U.K. inbound tourism market will suffer significant decline, and the company need to reduce cost by downsizing. Then, company need also hire security staff. Furthermore, the company should consider venture the U.K. outbound tourism service market. Heavenly Love: U.K. inbound tourism will as a â€Å"sunset industry† resulted in potential growth in market share of AirFreedom. The company however should focus on the competitive market with market-oriented pricing strategy and hire more staff for expanding. Seraphim: the market share will stagnate or slight decline and people with strong purchasing power will become the main potential customers. In addition, The company need to dismiss some staff for reduce cost and it should also consider enter the U.K. domestic tourism service. The price strategy is also market-oriented pricing. 6. Adopt Strategy In according to Mckinsey (2001), 86% of the biggest business winners followed market-shaping strategies between 1985 1995. However, AirFreedom as a new comer, the company is not powerful enough to influence or determine the structure of U.K. inbound industry. Therefore, AirFreedom should to follow Adopt strategy which is the company follow the existing structure and then developing with speed in order to capture opportunities in future. For instance, AirFreedom could launch â€Å"Olympic-Travel Package† for expanding which contains the air ticket, two weeks hotel and tickets of several Olympic Games during the 2012 London Olympic Games. 7. Conclusions In conclusion this essay has argued that the future developments in British inbound tourism for AirFreedom which is first venture in the industry by several methods, namely PSET analysis and scenario. The question posed at the outset was to evaluate and discuss the future development trend of British tourism. It has been seen that the two most impactful and uncertainly issues for the industry are terrorism and spread of serious diseases. One can therefore conclude from the proceeding discussion that the scenarios influence not only the profitability of the company but also the operation strategies. More primary is required for this topic in further research. How much 2012 London Olympic Games will impact on the development in U.K. inbounds tourism under global recession is a key question still not solved. Given the current economic climate, AirFreedom should face both challenges and opportunities in this industry.

Teaching and Education Goals :: Education Admissions Essays

Teaching and Education Goals Teaching is the most rewarding profession in the world today. Seeing a student accomplish a goal that you have helped them accomplish is exciting. Students learn each and every day about different things. It is our job as a teacher to help students to learn as much as they possibly can. Not all children learn the same way, so it is our job to find out what the best way is for that child to learn. Learning can be fun, but the child and the teacher work at making it fun. Rousseau stated, that children are initially innocent, although self-centered, and they learn through experiences. Rousseau believed that the individual self is more important than knowing how to analyze someone. Effective learning takes place when children have hands-on experiences with what they are doing. Rousseau also believed that children are not born naturally good. Educators should show the students right from wrong by setting good examples for them and treating them with love and respect. Some children are only shown this when they are at school. I was told when deciding my field of study that becoming an educator I would have five other professions included in my title. A mother, father, doctor, counselor, and a role model. Many of the children in the world today, do not have a happy home life and they need the attention that a mother or father would give them. They turn to their teacher for that attention. Helping students learn as mush as they can will not harm them, it will make them stronger in the world. Rousseau believed that an educator should ask questions on what was studied. Keeping the students mind working helps keep the students learning. Children are like rechargeable batteries, once they run down, don't throw them away, recharge them and let them run again. They will surprise you with what they can do.

Computerized Inventory System

II. PROJECT DESCRIPTION ­Ã‚ ­Ã‚ ­Ã‚ ­In this chapter, the students who are the developer of the system are going to tackle about the company’s main problem in its existing system and are also going to discuss the specific problem that causes the host company’s loss and incompetency to the market. The propose system that the students come up with will be discuss to maximize the competency of the host company along with the details, the scope and limitations, and the methodology used for the study.2.1.2 Problem Statement In this chapter the proponent will specify the general and specific problems of their company that has encounter through interview or observation.2.1.1 Major StatementHow to create a Computerized Sales and Inventory System for Alta School & Office Supply that will solve the major and minor problems of the store? Alta School & Office Supply using the manual system for the operation of the inventory and the cashier operator transacts all purchases using a cash register. The proponents decided then to develop a computer-based sales and inventory system that the store can use to be able to solve major and minor problems encountered when using a manual system in doing these operation.2.1.2 Minor StatementsHow to develop a module that will make the user easily find and validate returned products? Product returned include damage items when a product is returned, it should be accompanied with the receipt of the purchased product. Since only the product category and its price are indicated in the receipt, it would be hard for the manager to easily find and validate the product and the receipt so as to accept the return transaction.How to create a module that is enable to generate updated report such as the sales report and inventory report, as well as fast moving and slow moving products reports that is available anytime is needed? The store does not have an actual inventory report and their sales report are made and calculated just throug h the receipt from the cash register. The general manager cannot identify which products are fast moving and which are slow moving because the general manager cannot identify what specific products are commonly bought and what are not. Information for fast moving and slow moving items is essential so as to be aware of the products that need more attention in terms of the reordering of these products.How to create a module that is able to implement security with regards to the information and files so as to keep data integrity? Important documents can be altered since anyone can gain access to these documents. Another problem is regarding to cashier operators. Since there is no security with regards to who can use the cash registers unauthorized sales transactions may occur, thus resulting to loss of data integrity and reliability.II.1 Proposed Research ProjectII.1.1 General ObjectivesThe general objective of the study is to make a Computerized Sales and Inventory System for Alta Sch ool and Office Supply that will solve, improve the some features that can help of the store. The proponents will design and develop a Computer-based Sales and Inventory System for Alta School and Office Supply that will solve major and minor problems encountered in the current system used. This will eventually help the host company speed-up the process of the whole system. II.1.2 Specific ObjectivesTo develop a module that will organize the record of all the information about the system. In this statement the proponents need to organize the record of all the information about the system so that we can easily see all the information we need to see if it is necessary. Without organization the system will have corrupted files and revision would be impossible in the database.To develop a module that will compute the sales and record transaction for the amount product purchased, and the number available in the store. The proponents can improve the manual system for this module, computati on and recording to be faster and more accurate that will lessen human error and is  more reliable than the existing process.To create a module that will build a security that will protect the company’s confidential file. The proponents will develop a security to protect the feature where the data files and information will be secured from the unauthorized person and to avoid any of alteration of data files. The system cannot be used without any users, because it is required in the system.II.1.3 Scope and LimitationsThe Study is conducted to develop computerized sales and inventory system for Alta School & Office Supply. This computerized sales and inventory will ease the work of the persons involved in this system to minimize their tasks as well as to keep up with the technology nowadays. System proposed system is conducted to develop computerized sales and inventory system for Alta School & Office Supply.The computerized system will help minimize the problem encountered i n the existing manual system of the company as well as to keep up with technology nowadays. The proposed system will feature file maintenance module that allows editing, adding, and maintaining of information pertaining to the products, product’s category, suppliers, and system users. Returned product/s due to damage which is accepted for return or exchange can be easily validated through a reliable receipt that will indicate the store’s name, product name, product price and the date that purchased or date of transaction will be adjusted in a returns form.LimitationsThe system cannot provide a payment using credit cards. Obviously it is more profitable to have an online ordering but probably it cannot apply them online orders. The transaction or method cannot be converted in to a computerized system and can only be done manually such as evaluating the reports or suggesting an alternate product or any decision related problem.II.1.4 MethodologyThe proponent’s met hod in making the system is the Systems Development Life Cycle or simply SDLC is the methodology that we used in our system. It is the development cycle designed to give much faster. To be able to accomplish  the requirements of the proposed system, the proponents decided to use the System Development Life Cycle or simply SDLC and divided the cycle into five phases. The SDLC is a phased approach to analysis and design that hold that systems are best developed through the use of a specific cycle of analyst and user activities. Although each phase is presented discretely, the proponents did not intentionally make them as separate steps instead, several activities may occur concurrently, and activities may be repeated, because SDLC is more useful if it is applied as phases rather than in separate steps.Planning Priorities for system and projects; an architectures for data, networks, and selection hardware, and IS management are the result of associated systems; Detailed steps, or wor k plan, for project:Specification of system scope and planning and high level system requirements or features; Assignment of team members and other resources; System justification or business case.Analysis Description of current system and where problems or opportunities are with a general recommendation on how to fix, enhance, or replace current system; Explain of alterative systems and justification for chosen alterativeDesign Functional, detailed specifications of all system elements (data, processes, inputs, and outputs); Technical, detailed specification of all system elements (programs, files, network, system, software, etc.).Implementation Code, documentation, training procedures, and support capabilities.Maintenance New version or releases of software with associated updates to documentation, training, and support.

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