Ethical and Legal Issues in the Workplace Essay - 1

Moral and Legal Issues in the Workplace - Essay Example In this time of globalization it is accepted that a differing workforce builds the viability of an association yet it is additionally understood that the issues identified with HRD should be handled proficiently by the HRM. HRD improves the business execution by saddling the individual gifts of the workers from different foundation. The gifts are not any more restricted to a specific segment gathering and an assorted culture in working environment improves hierarchical potential by misusing singular possibilities. In this manner, HR supervisors need to advance positive relationship among the representatives of various foundation for both individual and authoritative development and execution. HRD is advantageous for associations from various perspectives yet it presents numerous dangers and difficulties additionally for the association and HR chiefs need to have knowledge for these dangers and difficulties to bridle the advantages of differing workforce ( Balogun, 2003 ).  â â â â â â â Diversity is expanding with time and by and by 25% of the American workforce is spoken to by a remote conceived or a minority and ladies involve practically 50% of the workforce. The expanding pattern of decent variety in working environment has impacted the human asset the executives and improvement in an association considerably presenting explicit issues and difficulties for recruiting, the board, advancement, as well as maintenance rehearses. The point of the paper is to deliver to these issues and difficulties. For this goal, a contextual analysis of â€Å"Managing decent variety at Cityside Financial Services†Ã¢ is done in the paper and explicitly one moral and one legitimate issue to key ability the board and advancement is portrayed for better comprehension of the issues and proposals for handling those issues and difficulties by the human asset the executives are additionally made in the paper ( Balogun, 2003 ).  â â â Diversity in working environment is useful from multiple points of view for associations, however it represents a few

The Marshall Plan

The Marshall Plan At first reported in 1947, the Marshall Plan was a U.S.- supported monetary guide program to enable Western European nations to recoup following World War II. Formally named the European Recovery Program (ERP), it before long got known as the Marshall Plan for its maker, Secretary of State George C. Marshall. The beginnings of the arrangement were reported on June 5, 1947, during a discourse by Marshall at Harvard University, yet it wasn’t until April 3, 1948, that it was marked into law. The Marshall Plan gave an expected $13 billion in help to 17 nations over a four-year time span. Eventually, in any case, the Marshall Plan was supplanted by the Mutual Security Plan toward the finish of 1951. Europe: Immediate Post-War Period The six years of World War II negatively affected Europe, crushing both the scene and the infrastructure. Farms and towns were demolished, businesses besieged, and a great many regular folks either murdered or maimed. The harm was serious and most nations didn’t have enough assets to help even their own kin. The United States, then again, was different. Because of its area a landmass away, the United States was the main nation that didn't endure significant obliteration during the war and along these lines it was to the U.S. that Europe searched for help. From the finish of the war in 1945 until the start of the Marshall Plan, the U.S. given $14 million in credits. At that point, when Britain reported that it couldn't keep on supporting the fight against socialism in Greece and Turkey, the United States stepped in to offer military help to those two nations. This was one of the principal activities of regulation laid out in the Truman Doctrine. In any case, recuperation in Europe was advancing much more slow than at first expected by the world community. European nations make a critical section out of the world economy; in this manner, it was expected that the moderate recuperation would have a gradually expanding influence on the global community.â Furthermore, U.S. President Harry Truman accepted that the most ideal approach to contain the spread of socialism and reestablish political solidness inside Europe was to initially settle the economies of Western European nations who had not yet surrendered to socialist takeover.â Truman requested that George Marshall build up an arrangement to do this objective. Arrangement of George Marshall Secretary of State George C. Marshall was delegated to office by President Truman in January 1947. Prior to his arrangement, Marshall had a distinguished vocation as the head of staff of the United States Army during World War II. As a result of his heavenly notoriety during the war, Marshall was seen as a characteristic fit for the situation of secretary of state during the difficult occasions that followed.â One of the principal challenges Marshall looked in office was a progression of conversations with the Soviet Union in regards to the financial rebuilding of Germany. Marshall couldn't arrive at an accord with the Soviets in regards to the best methodology and exchanges slowed down after six weeks. As a consequence of these bombed endeavors, Marshall chose to continue with a more extensive European reproduction plan. The Creation of the Marshall Plan Marshall called upon two State Department authorities, George Kennan and William Clayton, to help with the development of the plan.â Kennan was known for his concept of control, a focal segment of the Truman Doctrine. Clayton was an agent and government official who concentrated on European monetary issues; he loaned explicit financial knowledge into the plan’s advancement. The Marshall Plan was made to give explicit monetary guide to European nations to renew their economies by concentrating on the production of present day post-war ventures and the development of their worldwide exchange opportunities.â Moreover, nations utilized the assets to buy assembling and rejuvenation supplies from American organizations; consequently powering the American post-war economy in the process.â The underlying declaration of the Marshall Plan happened on June 5, 1947, during a discourse Marshall made at Harvard University; in any case, it didn't get official until it was marked into law by Truman ten months later.â The enactment was titled the Economic Cooperation Act and the guide program was known as the Economic Recovery Program. Taking an interest Nations In spite of the fact that the Soviet Union was not avoided from taking an interest in the Marshall Plan, the Soviets and their partners were reluctant to meet the terms built up by the Plan. Ultimately, 17 nations would profit by the Marshall Plan. They were: AustriaBelgiumDenmarkFranceGreeceIcelandIrelandItaly (counting the Trieste region)Luxembourg (controlled mutually with Belgium)NetherlandsNorwayPortugalSwedenSwitzerlandTurkeyUnited Kingdom It is assessed that over $13 billion dollars in help was dispersed under the Marshall Plan. An precise figure is hard to determine on the grounds that there is some adaptability in what is characterized as authentic guide directed under the plan. (Some history specialists incorporate the â€Å"unofficial† help which started after Marshall’s beginning declaration, while others just check help managed after the enactment was marked in April 1948.) Inheritance of the Marshall Plan By 1951, the world was evolving. While the economies of Western European nations were getting generally steady, the Cold War was developing as another world issue. The rising issues identified with the Cold War, especially in the domain of Korea, drove the U.S. to reconsider the utilization of their funds.â Toward the finish of 1951, the Marshall Plan was supplanted by the Mutual Security Act. This enactment made the brief Mutual Security Agency (MSA), which concentrated on monetary recuperation as well as progressively solid military help as well. As military activities warmed up in Asia, the State Department felt that this bit of enactment would better set up the U.S. what's more, its Allies for dynamic commitment, notwithstanding the open outlook that Truman planned to contain, not battle socialism. Today, the Marshall Plan is broadly seen as a success. The economy of Western Europe bounced back essentially during its organization, which likewise assisted with cultivating financial steadiness inside the United States. The Marshall Plan likewise helped the United States forestall the further spread of socialism inside Western Europe by reestablishing the economy in that area.â Ideas of the Marshall Plan likewise established the framework for future financial guide programs regulated by the United States and a portion of the monetary beliefs that exist inside the current European Union. George Marshall was granted the 1953 Nobel Peace Prize for his job in making the Marshall Plan.

What Is Considered a Genius IQ Score

What Is Considered a Genius IQ Score Theories Cognitive Psychology Print What Is a Genius IQ Score? By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Reviewed by Reviewed by Amy Morin, LCSW on October 01, 2019 facebook twitter instagram Amy Morin, LCSW, is a psychotherapist, author of the bestselling book 13 Things Mentally Strong People Dont Do, and a highly sought-after speaker. Learn about our Wellness Board Amy Morin, LCSW on October 01, 2019 More in Theories Cognitive Psychology Behavioral Psychology Developmental Psychology Personality Psychology Social Psychology Biological Psychology Psychosocial Psychology In This Article Table of Contents Expand Overview Key Terms Interpretation What IQ Tests Measure View All Back To Top People often talk about very high IQ scores, often referred to as genius IQ scores, but what exactly do these numbers mean and how do they stack up? High IQ scores are ranked as follows: High IQ: Any score over 140Genius IQ Score: 160 and upUnmeasurable Genius: Scores that are 200 and over Are people in the Genius IQ bracket really that much better off than those in the High IQ or even the Average IQ brackets? Are geniuses more successful than their lower-IQ counterparts? Some experts suggest that other factors, including emotional intelligence, might matter even more than IQ. Illustration by Joshua Seong. © Verywell, 2018.   A Breakdown of IQ Scores The average score on an IQ test is 100. These labels are often given for IQ scores: 1 to 24: Profound mental disability25 to 39: Severe mental disability40 to 54: Moderate mental disability55 to 69: Mild mental disability70 to 84: Borderline mental disability85 to 114: Average intelligence115 to 129: Above average; bright130 to 144: Moderately gifted145 to 159: Highly gifted160 to 179: Exceptionally gifted180 and up: Profoundly gifted Sixty-eight percent of IQ scores fall within one standard deviation of the mean. That means that the majority of people have an IQ score between 85 and 115. Understanding IQ Scores IQ scores follow what is known as the bell curve. To understand what the score on an IQ test means, there are a few key terms that you should know. Bell Curve: When IQ scores are plotted on a graph, they typically follow a bell-shaped curve.?? The peak of the bell occurs where the majority of the scores lie. The bell then slopes down to each side;  one side represents  scores that are lower than the average, and the other side represents  scores that are above the average.  Mean: The mean is the average score. The average is calculated by adding all of the scores together, then dividing by the total number of scores.Standard Deviation: This is a measure of variability in a population. A low standard deviation means that most of the data points are very close to the same value. A high standard deviation indicates that the data points tend to be very spread out from the average. In IQ testing, the standard deviation is plus or minus 15.?? What IQ Scores Really Mean What exactly constitutes a genius score on a measure of intelligence? To understand the score, it is important first to learn a little more about IQ testing in general. Todays intelligence tests are based largely on the original test devised in the early 1900s by French psychologist Alfred Binet. To identify students in need of extra assistance in school, the French government asked Binet to devise a test that could be used to discover which students were most in need of academic help. Based on his research, Binet developed the concept of mental age.?? Children of certain age groups quickly answered certain questions. Some children were able to respond to the questions typically answered by children of an older age, so these children had a higher mental age than their actual chronological age. Binets measure of intelligence was based on the average abilities of children of a particular age group. Intelligence tests are designed to measure a persons problem-solving and reasoning abilities.?? Your IQ score is a measure of fluid and crystallized intelligence. Your score on an IQ test indicates how well you did on these tests of mental abilities compared to other people in your age group. What the Average IQ Means and Indicates What IQ Tests Measure Logic, spatial awareness, verbal reasoning, and visual abilities are some of the key areas assessed by many IQ tests. They are not intended to measure knowledge in specific subject areas like the SAT and ACT tests focus on. An IQ test is not something that you can really study for in order to improve your score. Instead, these tests are more interested in looking at your ability to use logic to solve problems,?? to recognize patterns, and to make rapid connections between different points of information. While you might often hear that brilliant individuals, including Albert Einstein and Steven Hawking, possessed IQs of 160 or higher, or that certain presidential candidates have specific IQs, these numbers are simply estimates. In most of these cases, there is no evidence that these well-known individuals ever took a standardized IQ test, let alone shared these results with the public. IQ Scores Are Increasing IQ scores have also increased with passing generations.?? This is known as the Flynn effect, named for researcher James R. Flynn. Since the 1930s when standardized tests first became widespread, researchers have noted a sustained and significant increase in test scores among people all over the world. Flynn has suggested that this increase is due to improvements in our abilities to solve problems, think abstractly, and utilize logic. In a 2013 TED Talk, Flynn explained that past generations largely had to deal with the concrete and specific problems of their immediate environments. In contrast, people today are expected to think more about abstract and hypothetical situations. Not only that, but approaches to education have changed dramatically over the past 75 years and more people tend to have jobs identified as cognitively demanding. A Word From Verywell IQ tests are indeed interesting, but its important to remember that they are not the only measurement of intelligence. They focus on certain areas of our abilities and, while they do point to how smart a person may be academically, there are areas in life that someone may be better at than others.   How Are Scores on IQ Tests Calculated?

Courtroom Workgroup Paper - 1174 Words

Courtroom Workgroup Paper Fertina Bryant CJA/204 Feburary 23, 2013 Christopher Berry Courtroom Workgroup Paper * The author will determine courtroom groups, how the groups interact daily, and recommend changes to the groups. The author will also describe prosecutor roles and the cases he pursues. Finally, the author will elaborate on the funnel of criminal justice with the backlog among the courtroom group, the court system, give an example, and explain how to eliminate backlog cases. * Working the Courtroom System * Courtroom workgroups consist of a judge, a prosecutor, and a defense. These courtroom groups remain Senior Officers in court who determines the appropriateness of conduct. These officers settle questions of†¦show more content†¦The judges swear before appointment that as Judge he promises to remain tough on Crime, enforce the death penalty, and if elected, He proves a political moderate. First used in Missouri in 1940, the governor appoints judges from a list compiled by a non-partisan nominating commission. Judges serve on the bench for a year (Schmalleger, 2011). They remain voted to the bench after a year of service. If the vote is yes, the judge sits for the full term. * Although the police, judges, defense attorneys, and probation officers remain involved in specific duties, the prosecutor proves challenged in phases of the court process. Prosecutors challenge judicial decisions at times (Byrd, 2001). The office of the prosecutor proves part of the executive branch of the government. In all phases of the court process, given broad discretion, his/her job is to advocate the guilt of defendant vigorously. The prosecutors represent the people. Prosecutor screen the case. They determine if a crime has been committed. They research the crime to examine if a suspect has proved properly identified and if the evidence is sufficient to support a guilty verdict (Schmalleger, 2011). * Nolle Prosequi (nol. Pros.) should never present based on local jury success or public opinion decision to plea bargain, plea negotiations, and u reviewable discretions. They prove recommended toward offenders amounts of bail; comply to rules of discovery, and assisting with districtShow MoreRelatedThe Canadian Justice System Is The Mechanism That Bears On The Principle Of The Rule Of Law2010 Words   |  9 Pagesexamines the pre-trail process, the courtroom workgroup and the flow of cases. 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Needless to say Justice Greller was extremely learned in the law and provided me with great insight throughout my time observing in his courtroom. Being able to see first hand many of the proceedings and intricacies of the court systemRead MoreTrying Juveniles as Adults Essay1312 Words   |  6 Pagesintentions, the juvenile court balances rehabilitation (treatment) of the offender with suitable sanctions when necessary such as incarceration. According to Griffin (2008) in some cases juveniles may be required to be â€Å"transferred† to adult court. In this paper I am going to discuss the three primary mechanisms of waiver to adult court: judicial waiver laws, statutory exclusion laws, and prosecutorial discretion or concurrent jurisdiction laws. Furthermore, I will discuss the strengths and weaknesses of eachRead MoreCourt Systems2828 Words   |  12 PagesSupreme Court. 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Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesSatisfaction 79 Measuring Job Satisfaction Our definition of job satisfaction—a positive feeling about a job resulting from an evaluation of its characteristics—is clearly broad.30 Yet that breadth is appropriate. A job is more than just shuffling papers, writing programming code, waiting on customers, or driving a truck. Jobs require interacting with co-workers and bosses, following organizational rules and policies, meeting performance standards, living with less than ideal working conditions, and

Hnc Poverty Essay - 1080 Words

|In this report you will read about poverty and what is meant by poverty. Included will be an exploration of the differences between | |absolute and relative poverty. You will also read about the relationship between poverty and inequality, covering the types of | |inequality between gender and class and also, the extent of poverty in the current British context. I will also cover causes of | |poverty and inequality using sociological theories. Ending this report you will read into the effects of poverty and inequality in | |relation to behaviour, experiences and life chances on young people. | |†¦show more content†¦There are four classes in society; these are the underclass, the working class, the middle | |class and the upper class. The inequality of class causes poverty as individuals are limited to wealth, resources and opportunities | |within society. A case of inequality that relates to poverty is gender. This is when men and women are treated differently from each| |other regarding their roles and position within society. It is fair to say that women have been treated as less than equals and have| |had lesser opportunities within employment and chances | | | |Within Scotland, there were 980,000 people living in relative poverty and 620,000 across Britain working but living in relative | |poverty in 2007. (www.bbc.com). There were also 250,000 children living in relative poverty, and 150,000 children living in absolute| |poverty within Scotland in the same year. (Save the Children in Scotland). | | | |A feminist perspective is the sociology theory you could useShow MoreRelatedHnc Social Care Essay4439 Words   |  18 PagesHNC Social Care Booklet of Assessments This document contains all the assessment information you will need for the HNC Social Care. They are collated in chronological order with the lecturer responsible (where this is known) identified on the assessment. It is up to the learner to ensure that the assessment is handed in by the deadline. The assessment schedule will be posted on the moodle site. All work should be word processed and include appropriate references both in main

Quazi Free Essays

string(38) " to invest and produce more products\." African Journal of Business Management Vol. 5(27), pp. 11005-11010, 9 November, 2011 Available online at http://www. We will write a custom essay sample on Quazi or any similar topic only for you Order Now academicjournals. org/AJBM DOI: 10. 5897/AJBM11. 326 ISSN 1993-8233  ©2011 Academic Journals Full Length Research Paper Impact of working capital on firms’ profitability Hassan Aftab Qazi1*, Syed Muhammad Amir Shah2, Zaheer Abbas3 and Tanzeela Nadeem4 1 University of Central Punjab, Lahore 1-Khayaban-e-Jinnah Road, M. A. Johar Town, Lahore, Pakistan. 2 Illama Iqbal Open University, Islamabad, Pakistan. 3 Islamic International University, Islamabad, Pakistan. Accepted 20 April, 2011 The correlation between working capital and profitability of firms is analyzed for the management of cash cycle management. Working capital is made by the three important factors, debtor, creditor and stock. When we include cash conversion cycle (CCC) to working capital then it becomes working capital management (WCM). Two sectors are selected as a sample size: automobile and oil and gas sector. The time period is from 2004 – 2009. Different variables affecting the profitability of firms are selected. In this study, networking capital, inventory turnover in days, average account receivable and financial asset to total assets (FATA) are taken as independent variables. The result shows positive movement of working capital (WC) on firm’s profitability. R shows the fitness of the model which is 49. 95%. The independent variables explain 49. 95% of the model. Key words: Working capital management (WCM), cash conversion cycle (CCC), account receivable (AR). INTRODUCTION A good number of firms have put sufficient cash in working capital. Working capital management (WCM) is an important factor of financial management (FM). Debtor, creditor and inventory are the major components of working capital (WC). Large stock and trade credit policy can increase the sales volume. Inventory is the main part of the working capital. Increase in the inventory will give decrease in the risk of stock out. Inventory is done for fulfilling the demand of the public. Inventory is the liability of the company to sell it. The other element of working capital (WC) is accounts payable (AP). Firms can check the quality of the products provided by the producer by giving them late payment, whether it is suitable for the firm or not. Late payments create very bad impression of the firm in the market. Accounts receivable is also the major part of the working capital. Delay in the days of receivable creates more complication for the company. Working capital management is still taken lightly by some companies. It works as a key to free the cash from stock, accounts payable (AP) and accounts receivable (AR). To deal with the less important aspects of efficient and effective Working Capital (WC), firms can sharply reduce the out sourcing and they can save the money for future investment or opportunities. This can create more financial flexibility and increase the worth of the firm by reducing capital employed (Buchmann and Jung, 2008). This study basically focuses on the long run financial decisions, future investments and allocations of funds, dividends and valuation of the firm in the stock market. However, balance sheet components assets and liabilities are significant in short term planning and they need to be carefully analyzed by the firm. Short term assets and liabilities are managed carefully by working capital management (WCM) for the growth of the firm’s profitability (Smith, 1980). For creating good worth of the share in front of shareholders, firms have to manage working capital efficiently and effectively. Working capital management process starts from the purchase of raw material up to the sales of the goods. It creates significant impact on the profitability and liquidity of the firms (Shin and Soenen, 1998). Net working capital (NWC) and gross working capital (GWC) are the two major concepts of working capital (WC). The total current assets and *Corresponding author. E-mail: mac_hassan174@hotmail. com. Tel: +92-42-35880007 or +923334604314. 11006 Afr. J. Bus. Manage. orking capital (WC) can be replaced as a Gross working capital of the firm. By subtracting Current Liabi-lities from Current Assets it becomes Net Working Capital. Net working capital (NWC) can also be used to measure the liquidity but it is not useful when firms are compared with each other regarding performance, but useful in measuring the internal control of the firm. The net working capita l helps to compare the liquidity of previous record of the firm performance. The main purpose of the working capital management (WCM) is to make the sustainable level of the working capital (WC) which is favorable for the firm. Net working capital (NWC) is the part of the currents assets which is main-tained through funds having maturity life more than one year. Current assets represent the source of short terms funds. If the firm has less short term funds then it is supported by long term funds and sustains the firm value and market share price. This is very useful for the ana-lysis of trade between profitability and risk in the shares of the firm. Positive working capital (PWC) and Negative Working Capital (NWC) are the two possible signs. Positive working capital (PWC) is the sign of firm healthiness. Positive working capital (PWC) means that firm have the ability to pay the liabilities which maturity date are less than one year of the firm on due date. Positive working capital (PWC) is calculated by comparing Current Assets (CA) by current liabilities (CL). Negative Working Capital is the sign of firm weakness. Negative working capital means that company does not have the ability to pay the short term liabilities. When the Working Capital (WC) shows negative sign, it indicates long term funds support the short term funds and firm can easily pay the obligations on due date and save the value or worth of firm in the market. But in the different case, firm declining means bankruptcy. If declining working capital ratio continues for longer period then it can affect the firm value. If the firm efficiency is more in the operation, the more increase in working capital (WC). It can be analyzed by comparing the operation of working capital (WC) periodically. Working capital is raised from profits or outsourcing. Outsourcing means when there are more sales in the season but the firm is not able to invest and produce more products. You read "Quazi" in category "Papers" From outsourcing, more liabilities arise but on the other way from investing more, revenue will generate from more sales and it will increase the assets of the firm. Working Capital Management (WCM) has its impact on profitability as well as liquidity of the company and the primary goal of a company is to increase the annual revenues. Keeping the company liquid is an extremely main task also. Increase in company profitabiliy by reducing the liquidity of the company can bring some serious problems for it. Goals cannot be ignored at any cost because each individual goal has its own importance. If goal of maximizing the profit is gnored, survival is not possible for a longer time. Similarly, if liquidity objective is ignored, insolvency or bankruptcy could be faced. Because of these bases, proper attention should be given to Working Capital Management (WCM) which affects the companies profits and through this, it will show the effect of the Working Capital (WC) on profitability (PRT). T he research problem of this study is: does working capital have significant impact on profitability of a company? The objective of this reseach is to find out the correlation between working capital and profitability (PRT) through statistical analysis of a sample of listed companies. The purpose of this research is to analyze the impact of traditional working capital policies (WCP) on the profitability (PRT) of the firms, to analyze whether Working Capital Policies (WCP) can become stable over a long run-up and to draw a conclusion about the impact of working capital on the profitability of companies. LITERATURE REVIEW A significant portion of financial research is concerned with the Management of working capital (MWC). This issue has been investigated at both theoretical and empirical levels. Different researchers have worked on working capital from different perspectives and in different economic environment. The environments and perspectives are discussed in detail in this work. This paper is conducted for the association between working capital (WC) and value creation for shareholders. Working capital has three parts. First, account receivable; second, account payable; and third, inventory. Account receivable is a part of balance sheet, placed in the Asset Side (AS) and it is the inflows of firm. Account receivable is maintained when a company makes sales on credit bases. Account payable is also the part of the balance sheet, placed on the liabilities side and also the outflows of the firm. Account payable is maintained when a company do sum expenditures on the credit bases and make a payment on different terms. Inventory is maintained for generating the revenues from sales. The standard measure for working capital management (WCM) is cash conversion cycle (CCC). Cash conversion period reflects the time span between disbursement and collection of cash. Cash Conversion Cycle (CCC) is based on three components: number of days of account receivable, number of day of accounts payable and number of day of inventory. It is measured by the sum of inventory conversion period less payable conversion period. Different researchers use the name like net trade cycle for calculating the Working Capital Management (WCM). In this, every component is calculated in percenttage of sales (Soenen, 1998). Qazi et al. 11007 In Marc’s view most firms invest cash in working capital (WC) and it shows that the management of Working Capital leaves good impression on the Profitability of firms. Similarly, firm’s Working Capital Management (WCM) is a major part of financial positions. It helps the firms in maximizing their wealth and value of the shares. Larger inventory and trade policy can make higher sales for the firm. Large inventory reduces the risk of stock out for fulfilling the demand of the public. By providing credit sales to the customers, suppliers have significant cost advantage over financial institution (Deloof, 2002). Different researchers have different views that they test on the working capital. There is a positive correlation between account receivable and operating income of firm. Because if the good provided on credit bases then the days of the accounts receivable will not be for long period. On the basis of the accounts receivable, firms running their operations can meet the payment on due date. Efficient liquidity management (ELM) is a process which includes planning and controlling of current assets (CA) and current liabilities (CL). Liquidity and profitability of firm have great relation with each other. This relationship can be analyzed by current ratio (CR) and cash gap (CG) (Abdual, 2007). Firms short terms liabilities are directly related to the former while the continuity of liabilities is concerned with the latter. Higher investment blocked in stock and accounts receivable creates problem for operation. Decrease in number of days of account receivable gives increase in early eserves (Padachi, 2006). Financial managers can gain profit by maintaining component of cash conversion cycle (CCC) at a higher level (Nazir and Afza, 2009). If the inventory gets to the minimum level and the number of days account receivable (NDAR) also becomes minimum, then firms can increase their profits and run their project efficiently and effectively (Abdul, 2007). The policies of working capital management can help to measure the WC. If the policies which the firm is going to implement are very strict and helpful for the firm then the firm will not bear losses or stock out or less short term assets. The financing policies mean how to allocate the revenue to different departments and after how many days the firm is going to receive their payments and ability to pay his own payments. The share value can be created by the financial managers if they efficiently manage through conservative approach (Nazir and Afza, 2009). Different researchers use different analysis models. For empirical investigation, the anova and Pearson correlation analysis is applied. From these models, firm size and cash cycle can be measured easily. It is easy to measure the efficiency of working capital management (WCM), performance evaluation and the whole efficiency of the firm by setting up their targets. For calculating the overall efficiency of the firm, the target has to be achieved in limited time period. Researchers use pooled data for the analysis. In the pooled data, different independent variables such as regress combine with the dependent variable (Zariyawati, 2009). The financial leverage and growth in sales are the major factor of firm profitability. Firms have to select the best policy to improve their collection and payment period. Efficient management financing of working capital can increase their operational profitability (Abdul, 2010). After studying the above articles, it is seen that the results of all researchers are the same on working capital management (WCM) and profitability (PRT) regardless of different companies, environments and situations. METHODOLOGY This research is to analyze the impact of working capital (WC) on the profitability (PRT) of oil and gas and automobile industry with reference to Pakistan. Different statistical tools are applied to analyze the significance of the variables. So, the method of coefficient of correlation has been selected. Regression analysis is applied for testing the model reliability and significant relationship between variables. Data set and sample Two sectors are selected from Karachi Stock Exchange. The first is oil and gas and the second is automobile sector. A total of 20 companies are taken as sample for the data collection, which are collected from different sources. They are taken from 2004 – 2009 from the annual report. Some data are collected from the State Bank of Pakistan (SBP). State Bank of Pakistan (SBP) provides an analysis report of different sectors and companies which were listed in Karachi Stock Exchange (KSE). In this study, different variables are taken to measure the working capital (WC). Working Capital is taken as independent variable (WC) while profitability is taken as dependent variable (PRT). In this case, profit after tax is taken as profitability of firms. Working Capital can be measured by different ways. First is net working capital (NWC), which is measured by current assets (CA), divided by current liabilities (CL). Second is inventory turnover in days (ITID), which is calculated by inventory divided by Cost of Goods Sold (CGS) and multiplied by 365. Third is number of day of accounts receivable (AAR), which is calculated by other current assets divided by sale and multiplied by 365. Forth is financial asset to total assets (FATA), which is calculated by adding cash and investment and the whole divided by total assets. In addition, current ratio (CR), debt to equity ratio (DER) and sales natural logarithm (LOS) are taken as control variable in this analysis. All the aforementioned variables are affecting the Working Capital, Working Capital Management (WCM) and it will have negative or positive impact on the profitability of the firms. Hypotheses testing The objective of this research is to examine the impact of Working Capital (WC) on the profitability of firms. Figure 1 shows the impact 11008 Afr. J. Bus. Manage. Figure 1. Impact of Working Capital on Profitability. of working capital on profitability† H1: Working capital has positive effect on the profitability of firms. H0: Working capital has no positive effect on the profitability of firms. Model specification In this study, panel data regression analysis and time series of data are taken. For the regression analysis, pooled data are used. In this pooled data, all variables are combined on the same level and selected variables are grouped as independent and dependent variables. After that, all variables are selected for regression and correlation analysis. Model equation PRT it = ? 0 + ? 1 (AAR it) + ? 2 (ITID it) + ? 3 (CR it) + ? 4 (DER it) + ? 5 (LOS it) + ? 6 (FATA it) + ? 7 (NWC it) + ? PRTi t = Net Profit t; i = 1- 20 firms. ?0 : Beta ? i: Coefficients X it X it: Independent variables i at time t t: Time = 1-5 years. ?: The error term Whereas, AAR = Average Account Receivable ITID = Inventory Turnover in Days CR = Current Ratio LOS = Sales logarithm FATA = Financial Assets to Total Assets NWC = Net Working Capital DER = Debt Equity Ratio Qualitative analyses In this paper, two analyses are applied. First, correlation and statistical tools are applied in these data. We select person correlation model for this study to find out the degree of correlation among dependent and independent variables. In the regression analysis, we gather the data from annual reports and turn it to the same level. This gathering of data is called pooled data. For this analysis, we select E-views software to analyze it correctly in the case of pooled data. DATA ANALYSIS AND REGRESSION RESULTS The correlation and determination coefficients are the measures of the regression model. First, correlation coefficient (49. 95%) and the determination coefficient (26. 12%) show the degree of correlation among working capital and profitability of selected firms from oil and gas and automobile sector over 2004 – 2009. The standard error value is 6. 5926 and F-statistics value is 5. 4213 which is significant at 1% and shows 100% fitness of the model (Table 1). Similarly, the Durbin-Watson statistics is 1. 9991 which clearly defines that there is no serial correlation in this regression model. Table 2 shows the estimation results of the six antecedents for the independent variable of working capital at Qazi et al. 11009 Table 1. Model summary. R R2 Adjusted R-squared Standard Error of Estimate Durbin-Watson statistics F statistics 0. 499599 0. 261211 0. 213029 6. 592679 1. 991426 5. 421362 Table 2. Estimation results. Variable NWC NDAR ITID FATA DER CR Means 23. 58595 129. 4913 75. 80012 0. 217936 17. 96434 18. 85266 SD 8. 415465 351. 7532 143. 2339 0. 191679 3. 368055 0. 597391 T stats 4. 520358 0. 254527 0. 937944 -0. 477942 -0. 554939 0. 096545 Remarks Sig Not Sig Not Sig Not Sig Not Sig Not Sig Table 3. Correlation matrix. PROFIT NWC NDAR ITID FATA DER CR PROFIT 1. 000000 0. 474400 0. 109619 0. 112621 -0. 124623 -0. 201328 -0. 217375 NWC 1. 000000 -0. 086246 -0. 125120 -0. 054646 -0. 308676 -0. 397314 NDAR IITD FATA DER CR 1. 000000 0. 748882 -0. 190807 -0. 095937 -0. 040053 1. 000000 -0. 311687 0. 061122 -0. 118921 1. 000000 0. 078238 0. 396036 1. 000000 0. 008978 1. 000000 1% significance level. The results show that Net Working Capital (NWC) has positive and significant impact on the Profitability (PRT) of firms and the rest of the variables explain the behavior of profitability but have no significant impact on profitability. In the correlation results shown in Table 3, networking capital has strong positive relationship with profitability of firms while number of days of account receivable (NDAR) and Inventory turnover in days (ITD) are positive but have weak correlation power with profitability of firms; financial assets to total assets (FATA), debt equity ratio (DER) and current ratio (CR) are weak and negatively correlate with the Profitability (PRT) of the firms. But the correlation results of independent variables somehow showed positive and strong correlation of inventory turnover in days (ITD) with number of days account receivable (NDAR) and a strong but negative correlation of current ratio with net working capital; the remaining variables correlate but are weak in both the positive and negative sense, thus the concept of colinearity does not exist among the variables as evident by the analysis results. Conclusion This study is the relationship of working capital (WC) and profitability (PRT) of firms. orking capital (WC) is the major portion of the balance sheet. In this paper, data are collected form Annual Reports (AR) and analysis report which is provided from the State Bank of Pakistan (SBP). In this analysis report, the companies which are listed in stock exchange are analyzed and summarized. In this research, oil and gas and automobile sectors are taken 11010 Afr. J. Bus. Manage. as sample. Data are taken from 2004 – 2009. I n this research, R shows the fitness of model which is 49. 95%. The independent variables explain 49. 95% of the model. In the regression results, only net working capital is positive and significant and Number of Days of Account Receivable (NDAR) and Inventory Turnover in Days (ITD) are positive but insignificant; and all other independent variables are negative and insignificant. In the correlation results, networking capital is positively correlated with profitability of the firms. The other two variables are weakly correlated with the profitability of firms and the other three independent variables are negatively correlated with profitability of firms. Hence, the empirical results of the paper show the positive trend of working capital on profitability of the firms. The results are supported by previous studies of Rahman (2007) and Nazir and Afza (2009) and Deloof (2002) on the Working Capital (WC). REFERENCES Abdual RMN (2007). Working Capital Management And Profitability – Case Of. Int. Rev. Bus. Res. Papers, pp. 279-300. Abdul RMN (2007). Working Capital Management And Profitability – Case Of Pakistani Firms. Int. Rev. Bus. Res. Papers, pp. 79-300. Abdul RTA (2010). Working Capital Management and Corporate Performance of Manufacturing Sector in Pakistan. Int. Res. J. Finan. Econ. , 47: 152. Buchmann P, Jung U (2008). Best-practice working capital management: Techniques for optimizing inventories, receivables, and payables. Q. Financ. , pp. 1-7. Deloof M (2002). Does Working Capital Management Affect Profitability of Belgian Firms? investopedia. com. (2010). Working capital : definations; negative working capital, p ositive working capital. Retrieved October 10, 2010, from www. investopedia. com: http://www. investopedia. com/terms/w/workingcapital. asp. Nazir S, Afza T (2009). Impact of Aggressive Working Capital Management Policy on Firms’ Profitability. J. Applied Manage . Padachi K (2006). Trends in Working Capital Management and its Impact on Firms’ Performance: An Analysis of Mauritian Small Manufacturing Firms. Int. Rev. Bus. Res. Papers, pp. 45 -58. Shin HH, Soenen L (1998). Efficiency of working capital management and corporate profitability. Financ. Pract. Educ. , pp. 37-45. Smith K (1980). Profitability versus liquidity tradeoffs in working capital management, in readings on the management of working capital. ST. Pual,New York: West Publishing Company. Soenen S (1998). Liquidity management, operating performance, and corporate value: evidence from Japan and Taiwan. J Multi. Manage. , 159-169. Zariyawati MN (2009). Working capital management and corporate performance:Case of Malaysia. J. Modern Account. Audit. , 5(11): 4754. How to cite Quazi, Papers

The hostages situation

Judging from the information provided, the hostage taker falls into the category of a mentally disturbed individual (Miller, 2005).Advertising We will write a custom essay sample on The hostage’s situation specifically for you for only $16.05 $11/page Learn More The 42-year-old male hostage taker appears to be psychotic, delusional and mentally unstable considering the demands he places in order to free his captive who happens to be a member of his family and friend. In addition, it is possible that the hostage taker has an explosive personality since his victims are closely related to him. Judging from the hostage’s situation, my role would be to directly engage the hostage taker in negotiations in order to harness the situation and conduct psychological profiling of the victims and the host taker (Fernald, 2008). The hostage’s situation is usually very delicate and critical during three key periods. The initial period of the negoti ation which ranges between 15 to 45 minutes is usually characterized by tension. They are also delicate because during the surrender of the hostage taker, ambivalence and strong emotional responses are highly likely from the hostage taker. Tactical rescue operations by members of the rescue team may pose the greatest danger since the possibility of the hostages being harmed in the process is high. In the very first minutes, my main role would primarily be to establish the demands of the hostage taker and determine his mental state, the current situation of the hostages and more importantly, to calm down the situation (Fernald, 2008). Calmness and professionalism are vital at this stage since they can make or break the negotiation process. After 30 minutes, the situation will be assessed and appraised to determine the criticality of the dangers involved especially to the hostages.Advertising Looking for essay on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More If nothing threatening is observed within this period, it is mostly likely that the danger involved will be minimal. If the hostage taker proceeds to endanger the life of any of the victims after the period of heightened tension has subsided, this will mean that the negotiation process will be failing and speedy action will need to be taken to avert more casualties (Green Groff, 2003). Under such circumstances, the only option likely to be taken is a tactical assault rescue by trained and well equipped members of the crisis response teams. Such an operation should be carried out with absolute precision if a life threatening situation is to be avoided (Vecchi, Hasselt Romano, 2005). During the first 45 minutes, I will establish myself as the contact person for the kidnapper with the outside world and skillfully draw his attention away from the victims thereby giving them time to calm themselves down. The focus will not be to address the demands of the h ostage taker but to wear down his mental aggression through calm and persuasive dialogue. After an hour has passed and not ugly incidents have been witnessed, it will be important to switch positions with a female negotiator. This will be a tactical move aimed at solidifying the gains made so far in the negotiation process and will create an assurance to the hostage taker by introducing the soft and nurturing voice of a woman. This will further calm down the host taker. It is important to note that every effort should be made to ensure that the line of communication between the hostage taker and the negotiators should be open at all times. The team should ensure that contact with the hostage taker is not lost. After one and half hours with no major incidences, it would then be important to profile the mental status of the hostage taker. This must be done with a lot of caution to ensure that there is not much probing of the hostage taker.Advertising We will write a custom essay sample on The hostage’s situation specifically for you for only $16.05 $11/page Learn More The mental profiling will seek to establish whether there are any symptoms of delusion and whether there is any response to non-existent stimulus. A thorough examination of the communication between the negotiator and the hostage taker would be important and this would also help in identifying anything that could be acting as a barrier to the negotiation process. For example, if the hostage taker continues to emphasize the need for being exempted from prosecution, he would then sink into a crisis and the best course of action would be to apply empathy and actively listen and encourage the hostage taker to communicate in order to bring him to a point of rationalization (Miller, 2005). The point here is to employ distraction as a technique to move the hostage taker from focusing on his demands and direct him towards a self examination of his actions by persuading him to assess the nature of his actions. With calm and persistent probing, the hostage taker will soon start to be rational and begin seeing the absurd nature of his actions and this will then open an avenue for the negotiator to persuade the hostage taker to consider a more sensible and peaceful way of resolving the matter. In the current scenario, the use of basic needs as bargaining chips is not probable since the incident of hostage has occurred in the home of the host taker and therefore, the only other need the host taker seems to have is secondary. On the other hand, if the basic needs are unavailable, the host taker will essentially begin to demand for the same to be brought to him. If so, there could be the possibility that some or one of the hostages will be released. However, the central focus should remain on the hostage taker. The whole essence is to make sure that the hostage taker feels he is the all important person and that the negotiator does not care about the hos tages.Advertising Looking for essay on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More If food would not be availed in the house, most likely the hostage taker would start making demands for the same after three hours. This is a period for the negotiator to maximize in trying to secure the release of some hostages. From this point on, fatigue would begin to set in on both the hostage taker and the hostages due to a prolonged period of heightened emotions. The negotiator would have an advantage since he would switch positions but the hostage taker would have no option but to remain alert during the whole period of negotiations. This would be a very important phase for the negotiator to continue probing and distracting the hostage taker (Miller, 2005). Due to heightened emotional stress, it would most likely be that the hostage taker would be completely fatigued and would be seeking for an opportunity to get some sleep. This would be highly possible after five hours of actively engaging the hostage taker. Complete exhaustion of the hostage taker would be appropriate sin ce at such moments; the hostage taker would start to lose concentration and control of his immediate surrounding and could easily give in to the requests of the negotiator. The sixth hour would mark the point of climax of the negotiation period and there would only be two possible outcomes in this case scenario. The first would be for the hostage taker to surrender and face prosecution or the members of the rescue team to stage a precision assault to rescue the hostages and arrest the hostage taker. The second option could lead to death or injuries and therefore, should come as a last resort. The negotiators should fully take advantage of the physical and mental fatigue of the hostage taker to persuade him to surrender and therefore avoid an unnecessary forced rescue attempt. The sixth hour would provide the best possible time to act and avert the hostage’s crisis from getting out of control. One of the precautions that the rescue team would take would be to ensure that the m edia is restrained from airing the hostage’s crisis while the operation is still on. This can have devastating effects on the process of negotiation. In the course of the incident, it is possible that the hostage taker can have access to a television and therefore can easily be enraged or act out of panic. Secondly, the negotiation team would ensure that the hostage taker has no other external contact apart from the team itself. This would make sure that other distractions do not divert focus from the rescue efforts of the negotiators. Information regarding the hostage taker can be gathered from neighbors, other family members, workmates and other social places where the hostage taker has been known to frequent. The purpose for collecting this information is to aid the negotiator in analyzing and understanding the personality, character and behavior of the hostage taker which will be important during the negotiation process. It is important to note that less than 95% of all h ostage incidences are successfully solved through negotiation and yield less life threatening dangers than forced rescue missions. Conclusion The role played by police psychologists in hostage negotiation teams is vital since they bring a level of experience which other police officers may not have acquired during their professional training. The approaches of police psychologists in rescuing hostages that are kidnapped are better and much more specialized in nature than the approaches used by ordinary police officers. Every police department should explore the possibilities of recruiting police officers that will purposely be trained to meet the challenge that hostage takers pose to the security of innocent people. Even before cases of kidnap occur, police psychologists can actively be involved in training members of the police department on how to respond to such sensitive and delicate operations. These kinds of training programs would equip the police officers with valuable knowl edge and skills on how to handle agitated offenders especially in dangerous operations such as a hostage crisis. The police psychologist is also actively involved in assessing the outcomes of such a crisis long after they have been concluded in order to deduce valuable lessons for the police department and offer advice on corrective measures that should be taken in future engagements. The important role played by a police psychologist will continue to grow as more complex crimes continue to take shape in society. References Fernald, L.D. (2008). Psychology: Six perspectives. Thousand Oaks, CA: Sage Publications. Green, C.D. Groff, P.R. (2003). Early psychological thought: Ancient accounts of mind and soul. Westport, Connecticut: Praeger Press. Miller, L. (2005). Hostage Negotiation: Psychological Principles and Practices: International Journal of Emergency Mental Health.USA: John Wiley Sons. Vecchi, G., Hasselt, V., Romano, S. (2005). Crisis (hostage) negotiation: current strategi es and issues in high-risk conflict resolution: Aggression and Violent Behavior. Oxford: Oxon Press. 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