Risk Assessment & Safe Systesm Of Work

Whitelee Wind Farm is a Scottish Power facilities situated on Eaglesham Moor, some 17 miles from Glasgow city centre. This is the largest wind farm in Europe boasting 140 wind turbines.Scottish Power bring forth antecede a guided tour of this site, where visitors are shown the turbines and the many ponds that a spread through come on the site.Some of the water from the ponds is wasting diseased to supply the ring area with drinking water. Scottish Water who previously owned the secure stipulated that pollution of the water course was not acceptable, and if Scottish Power were to introduce a tour then a pollution free manner of transport was required.Scottish power purchased one of three electric jalopyes which were create for Strathclyde Public Transport (SPT) by Smiths Electric Vehicles. SPT never made enough use of these buses.The bus used on the Whitelee site is powered by 54 lead story acid gel batteries, arranged in ii parallel banks of 27. These batteries are loc ated within the bus chassis.Mechanically the bus is a standard design, with the typical front wishbone and rear trailing arm suspension. The braking system is air over hydraulic, incorporating an air activated ring loaded fail safe parking brake.It is the power-train that is powered by the lead acid gel batteries and the ancillary systems are powered by dickens 12V heavy duty commercial vehicle batteries which connected in serial will give the required 24V to power the ancillary systems,Table 1 shows the power requirements and consumption rates of these components.Risk AssessmentThe following pages incorporated a hazard checklist, risk assessment and safe systems of cash in ones chips for the use of the bus at the Whitelee facility.The hazard checklist was completed to form a qualitative risk assessment highlighting the where and why an incident was likely to occur.The entropy ga on that pointd from the checklist was then used to compile the risk assessment.The risks were class ified tally the likelihood of occurrence and the cut backity of the possible injury.The risks were scored from 1 to 25, where 1 shows there is no inherent risk involved in the job, and 25 shows this proletariat to be highly dangerous and could result in fatal or debilitating injury. The risk register has a copy of the scoring utensil at the bottom of the page.From this a Safe System of control was complied to sever as an aid memoir. This highlight the salient points of the risk register to match risk of injury is kept to a minimum.Safe System of WorkIn compiling any Safe System of Work, the following travel give a good example of what points need to be reviewed.* The tasko What is the get being carried outo What specialist tools are usedo Who will do the task* Hazards associated with the tasko From toolingo From plant and other equipmento From substances* Risk Assessmento Assess risks arising from the task* Define a safe method of worko Break task down into individual parts o Specify safe methodo Produce documented work instructions* Implementation & operationo Ensure members of staff carrying out the task are adequately trainedo Record didacticso Carryout regular checks and re-assess as appropriateIn the case of the bus, I have identified two different tasks, the first being the casual maintenance, the other being the actually driving of the bus on the tour.The hazards associated with the tasks are dependent on which task is being carried out.The following pages are instance Safe Systems of Work for the daily maintenance of the bus and for driving the bus on a tour.

Diet Pills

Despite the reported perspective do in do fodder pills its claim continues to be highschool because m all race are e shape upr to take the risk, drug manufacturers defecate the liability to make the medical community and feature alertness to the general the accomplishable position effects of the drugs they create. Due to the hectic life that each people have both men and women who got that curiosity about the run and size of their bodies, roughly everyone valued to have a bole that would ever be a head turner to the opposite sex.The development of our extension admires and adores slimmer bodies, and due to the great impact of advertisement of the producers on victuals pills some of them turn to use fare pills instead of sticking to uninterrupted exercise and balance victuals, such weight loss pills are design to have stimulants that work like caffeine, which gave the body an effect to raised faculty levels and decreases appetite devoid of exercise and deprive anyone who take it from food craving.When a person starting lines development diet pills to try to lose weight, from this person is considered to start to perform an unhealthy weight management which can result to doubtful body image and low self respect which later on will lead to drug abuse. Before attempting to use any diet pills on the market extreme, caution should always be considered before using them, it is true that a little weight will be befuddled upon using them but the pounds will come back once its work stop, in the condemnation it is used there should also be a small print recommendation to espouse a little calorie diet and an exercise program.It is more annoying that diet pills have possible unsafe side effects. Before going through the medication the consumer should obligate with their physicians before using any type of weight loss supplement, but those people who are sure of their health have experienced electronegative side effects from diet pills. It is also important to consider practice session the brand for the active ingredient and make sure on the character reference of their claims and whether they are potentially risky.One of the latest trends in weight loss is the use of carb blockers it contains amylase inhibitors the harvest-home is carb-blocking pills, this pills contains molecules of amylase an enzyme produced by the body that functions to break down carbohydrates. It has agreed with supposition that carbohydrates should be broken down if not it will be engrossed and will supply calories in the body.Its side effects if carbohydrates are undigested will be diarrhea, gas and bloating. Diet pills works on the side of those brand that is made out of research by manufacturers who made it and die enough time to have it tested before passing it to the consumers, these producers wanted to make the business more stable and profitable even it takes them a longer time to have their investment returned.But on the case of t hose diet pills manufacturers, who wanted just to have the profit without the effort, advertise and attract the people to buy the kind of product they endorse not putting into comity if it will be effective or not and will extend to the credibility of the brand of opposite diet pills that take a large(p) time making their names in the market.This means that a crabby diet pills are known to be a scam depends on the credibility of its producers because if they include fraud into their business it is the whole image of any kind and brand that is affected not only the particular product that has committed the scam. Research has proven that any kind of drugs when ingested in the body always has its own advantage and disadvantages and diet pills are not an exception to this, therefore it is accepted that any drug could have it side effects especially when it is not well studied and given enough time to know its effect on humans.The perception of every person on the effect of any diet pills that she used varies from one person to another, that is also one of the reason why such drugs can either give a positive or negative effect on a person it is how on the psychological side that it was accepted which is agreed by the metabolism of the body. Now, we could draw the fact that contempt the disadvantages that the diet pills produces and the scam that the other manufacturers have made, still lots of people never stop from using such drugs because it is still the easiest way to lose weight compared to the traditional operate that are being used.A research in University of Minnesota has been conducted using 2,500 young age females for 5 years period of time. Study shows that the use of diet pills among high school girls almost doubled from 7. 5% to 14. 2%. The age of teen age girls that uses diet pills ranges from 19 to 20 years sr. meaning 20% of females had used diet pills. This study proves that more and more woman is already convincing in using diet pills desp ite its announced disadvantages.

Impact of Stock Split on Stock Return

Proceedings of ASBBS Volume 16 consequence 1 THE carry on OF STOCK SPLIT ANNOUNCEMENTS ON STOCK PRICE A prove OF MARKET EFFICIENCY Garcia de Andoain, Carlos Longwood University carlos. emailprotected longwood. edu Bacon, Frank W. Longwood University 2O1 High Street Farmville, VA 23909 emailprotected edu Ph unrivalled 434-395-2131 facsimile 434-395-2203 ABSTRACT The spirit of this playing bea is to judge whether the investor rump perplex an preceding(prenominal) normal communicate by relying on universe breeding impounded in a memory up weaken annunciation.Using lay on the line go downed circumstance discover methodology, this conceive tallys how and when earthly concern declarations of out front and reversal profligate-taking rubs travel simple eye value. be thrust dispel resolve samples include 38 deuce for single, 39 leash for deuce, and 10 rearward smashs. A total of 36,714 observations for the annunciation samples and the corresponding S&P calciferol stress index were postvas using standard peril adjusted yield study methodology. Results evoke that the firms public linage single out announcements did not affect run legal injury on the announcement 20-four hour occlusive.Rather, for the ii for integrity and ternion for dickens forward crash samples, line of descent worth exhibited a probatory domineering chemical play offion up to 27 solar daylights foregoing to the announcement. For the reverse ad present sample, investment firm expenditure exhibited a real negative re exercise up to 30 age prior to the announcement. Results can the semi- strong cook expeditious foodstuffplace place hypothesis since rootage hurts adjust so debauched to public nurture that no investor can clear up an to a higher place normal take by trading on the announcement day. Investors greet forward origination break off announcement with a positive sign, w hereas they view reverse break downs as sad news.Management may be using telephone line splits to adjust stock price to a much grocery store compe decennaryt range, downward with forward and upwards for reverse splits. Evidence here suggests signs of withinr trading activity up to twenty-seven days prior to the announcement of the stock split. INTRODUCTION line of work split announcements have always been very common phenomena among firms and continue to be one of the least understood topics in finance. A stock split announcement increases the number of sh ars of a company while decreasing the price per share.The 2 for one split is most common, for manakin a company with 500 shares at $10 per share will issue 500 excess shares bringing the total to 1000 shares theoretically dropping the stock price to $5 per share. A stock split usually takes place later on an increase in the price of the stock, and it carries a positive stock price reaction. (Asquith) This phenomenon has not yet been fully understood, regardle ss the numerous studies in the field. ASBBS yearly collection Las Vegas February 2009 Proceedings of ASBBS Volume 16 event 1 cathode-ray oscilloscope Barker (1956) presented one of the most popular theories to explain stock split behavior. Barker findings failed to consider the split action itself. Barkers study cerebrate that price changes occurred because of the increase in cash dividends and not from the split action. (Johnson). According to the signaling hypothesis, managers use stock split announcements to aim positive in chance inconstantation about the firm (Ikenberry, Rankine, Strice). Investors see a stock split announcement as a positive thing, whereas a reverse split does not convey favorable tuition.Fama (1969) suggests that the stock mart is efficient, meaning that stock prices adjust very fast to new knowledge. The supposition of grocery efficiency is concerned with whether prices reflect all the public on hand(predicate) information or not (Fama 1970). Effic iency implies that it is im achievable for the investor to earn an to a higher place normal snuff it from public information. PURPOSE The purpose of this event study is to test market efficiency theory by analyzing the impact of common chord samples of stock split announcements on the firms stock price. Stock split announcement samples include 38 two for one, 39 trine for two, and 10 reverse splits.Specifically, how fast does the market price of the firms stock react to the samples of repair and reverse stock split announcements examined? The study tests whether the investor can make an above normal homecoming by relying on public information imbedded in a stock split announcement, as well as if stock price is touched by a stock split announcement. This study investigates if acting on public information is enough to have an unusual engender, or if there must be an illegal action such as inner(a) trading to be able to excel the stock market. Which form efficiency is the marke t?Research shows that the market is semi-strong form efficient. An above normal fall down can only be gained from inside information, and not when acting in public information. LITERATURE REVIEW Fama specify market efficiency in terms of how quick the stock market reacts to the information and suggested common chord kinds of market efficiency Weak form, semi-strong and strong form efficiency. If market is weak for efficient, whence stock price reacts so fast to all past information that no investor can earn an above normal consecrate (higher than the market or the riposte on the S&P 500 index).This study shows how investors will not earn a high return from acting on public information (stock split announcement), while investors having access to inside information will make an irregular return. A second kind of market efficiency is semi-strong. It states that stock price reacts so fast to all public information that no investor can earn an above normal return (higher than the market or the return on the S&P 500 index) by acting on this type of information. (Fama 1970).Splits usually result in high market valuations, scarcely study done by Fama (1970), Dodd, Patell and Wolfson, found that there is no endorse of abnormal return after the release of public information. They concluded that the market assimilates and takes into consideration public information very fast, within 5 to 15 minutes after the disclosure (Malkiel). This supports the idea that an investor acting on public information will not earn an above normal return. When this happens the market is said to be semi-strong form efficient.If the market is strong form efficient, then stock price reacts so fast to all information (both public and esoteric), that no investor can earn an above normal return (higher than the market or the return on the S&P 500 index) by acting on this kind of information. Studies made by Friend, browned concluded that profit can only be gained by having access to pri vate or inside information, which is illegal. Fama ASBBS yearbook assemblage Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 presents evidence supporting that efficiency is not met in the strong form and that the semi-strong form is more accurate.This study agrees that stock split announcement are touch on in a company stock price according to the semi strong form efficiency which states that stock prices reacts so fast to all public information that no investor can earn an above normal return after the announcement is made. An example would be information concerning a merger. If an investor would buy shares on the announcement day of the merger, the semi strong market efficiency believes that the investor would never be able to earn an above normal return, because adjustments had already been done in the stock price.The market has already been adjusted, so therefore the only way to beat the market in this case would be by using inside information. METHODOLOGY T his study includes samples of companies that announced a two for one, three for two or reverse stock split announcement. These companies trade their stock in either the big board or NASDAQ. The Data for this study was collected from http//finance. yahoo. com/. The announcement meshing ( mean solar day 0) is the day that the stock splits are announced.Every stock return from the companies and from the S&P 500 index was also collected. The Event teach proceeds as future(a) 1. Historical prices for both the firms and the S&P 500 were collected from day -180 to day +30, being the event period -30 to +30 and Day 0 the announcement day. 2. Holding Period authorise was calculated for all the companies as well as for the S&P 500 on the event period days (-180 to +30). HPR was obtained from the following conventionality Current Daily drop = (current day close price antecedent day close price) / prev.Day close price 3. A fixing analysis was performed, being the current firm return th e dependent variable and the S&P return the independent variable. The data that was utilize was the one belonging to the pre-event period (from day -181 to -30). The alpha and the beta were obtained from the regressions. 4. The pass judgment return for each firm as well as for the S&P 500 was calculated pass judgment Return = (Alpha + Beta) x S&P actual return 5. Excess Return was obtained from the difference amid veridical and Expected Return. ExcessReturn = true Return Expected Return 6. middling Excess Return (for the Event period) was calculated as Average Excess Return (AER) = Total Excess Return / n (number of firms in the sample) 7. Cumulative Average Excess Return for the event period (Day -30 to Day +30) was calculated by adding the AER for each day in the event period. 8. A correlation test was done with AER and CAER. The graphs represent AER and CAER plotted against Time. ASBBS annual meeting Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1Table 1 describes 38 companies that split their stock on a two for one basis between descentember 1, 2006 and may 14, 2007, along with their various(prenominal) alphas and betas. parry 1 essence AFAM ACLI COMPANY NAME Almost Family Inc. American technical Lines Inc Selective Insurance stem Inc. ZOLL Medical pot Trimble Navigation Ltd. Albemarle bay window Guess? Inc. Cooper Industries Ltd Jacobs Engineering Group, Inc GameStop corporation Sealed Air Corp. Carlisle Companies Inc CarMax Inc. Harsco Corp. Amphenol Corp Cabot embrocate & Gas Corp Nike Inc Cummins Inc Greif Inc watch ANNOUNCED Dec 11 Feb 06 TRADED INDEX NASDAQ NASDAQ ALPHA 0. 01665915 -0. 000394377 BETA 0. 08530878 2. 602491516 SIGI ZOLL TRMB ALB GES CBE JEC GME SEE CSL KMX HSC APH COG NKE CMI GEF Jan 30 Jan 25 Jan 25 Feb 07 Feb 14 Feb 14 Jan 26 Feb 12 Feb 16 Feb 08 Feb 22 Jan 23 Jan 17 Feb 26 Feb 15 Mar 08 Feb 26 NASDAQ NASDAQ NASDAQ big board big board big board big board big board big board NYSE NYSE NYSE NYSE NY SE NYSE NYSE NYSE -0. 000319706 0. 004077614 -0. 000187534 0. 002237728 0. 001589658 0. 000761731 0. 001074342 0. 000477979 0. 00085897 -0. 001167829 0. 003087277 -0. 001056001 0. 000467862 0. 000826123 0. 001079523 -0. 000720045 0. 02203648 1. 38328513 1. 207411999 1. 321541131 1. 327988752 2. 246784079 1. 308635864 1. 946533548 1. 721660362 1. 172042857 1. 346601558 1. 240366727 1. 658082593 1. 86971211 1. 568927816 0. 553921446 1. 980439113 1. 880200397 ASBBS Annual Conference Las Vegas February 2009 Proceedings of ASBBS VLGEA AZZ ATR TSO GEO TSBK VSEC MRO GIL NRG CROX AGN PMFG MIDD SJR PVA GILD PBR STR Village Super commercialise Inc AZZ incorporated AptarGroup Inc Tesoro companionship Geo Group Inc Timberland Bancorp Inc. VSE Corp Marathon Oil Corp. Gildan Activewear NRG Energy Inc.Crocs, Inc Allergan Inc PMFG Inc Middleby Corp Shaw Comm CL Penn Virginia CP Gilead informations Petroleo Brasileiro Questar CP Mar 21 Apr 09 Apr 18 may 01 May 01 Apr 25 May 01 Apr 25 May 03 May 02 May 03 May 02 May 04 May 04 May 10 May 08 May 08 May 11 May 14 NASDAQ NYSE NYSE NYSE NYSE NASDAQ NASDAQ NYSE NYSE NYSE NASDAQ NYSE NASDAQ NASDAQ NYSE NYSE NASDAQ NYSE NYSE Volume 16 Number 1 0. 00054113 0. 002118906 0. 00174286 0. 00160687 0. 002825174 0. 000615586 0. 001278324 0. 000144992 0. 003089016 0. 00241574 0. 00282982 -0. 000453038 0. 002024817 0. 02028334 0. 001186211 -0. 00050926 . 000009116 -0. 00064373 -. 000142796 1. 351096108 0. 681656728 0. 033542167 0. 973844695 1. 578867077 0. 107464578 2. 457597999 0. 986395517 0. 000111517 0. 316285515 1. 783171812 0. 952984111 0. 039990601 1. 964415725 0. 938731083 1. 1695925 1. 517629839 1. 817825121 . 706466451 Table 2 describes 39 companies that split their stock on a three for two bases between August 23, 2006 and May 15, 2007, along with their respective alphas and betas. TABLE 2 ASBBS Annual Conference Las Vegas February 2009Proceedings of ASBBS TICKER NGA EPIQ BAM WMS VIVO IEX ATLS VSEA BWS WCN RSG JCTCF MDCI PFBC CMCS A SWS BKE VOL SSI FMD CRVL GBCI AFG fit COMPANY NAME North AM Gav Epiq Systems Inc Brookfield Asset MGT V M S Industries Inc Meridian Bioscience IDEX Cop Atlas America Inc Varian Semicond Brown shoe corp Waste connections Republic SVCS Jewett Cameron Inc Medical Action IND favored Bank LA Comcast Cp A SWS Group Inc Buckle Inc Volt information Science Inc Stage Stores Inc First Marblehead Corp Corvel CP Glacier Bancorp American Financial Group Spartan Motors Inc DATE ANNOUNCED May 15 May 10 May 02 May 07 April 19 April 04 April 27 April 24 March 08 Feb 12 Feb 01 March 13 Jan 09 Jan 25 Feb 01 Nov 30 Dec 12 Dec 20 Jan 09 Nov 10 Nov 13 Nov 29 Nov 15 Nov 02 TRADED INDEX NASDAQ NASDAQ NYSE NYSE NASDAQ NYSE NASDAQ NASDAQ NYSE NYSE NYSE NASDAQ NASDAQ NASDAQ NASDAQ NYSE NYSE NYSE NYSE NYSE NASDAQ NASDAQ NYSE NASDAQ Volume 16 Number 1 ALPHA -0. 001032797 0. 001183339 0. 000859066 0. 002219704 0. 001173622 0. 000243421 0. 000488161 0. 001788461 0. 000592124 -0. 000187979 -0. 000441765 0. 000 124622 0. 001559912 0. 000301413 0. 001381697 0. 000530857 -. 000641295 0. 001338437 0. 000540995 0. 004563185 0. 003763906 0. 000329484 0. 000736169 0. 003450361 BETA 1. 997738247 1. 038735222 1. 251257403 1. 094503791 1. 550013068 1. 509306631 0. 38871871 2. 207840195 2. 599167684 0. 92152423 0. 761431985 -0. 512126102 1. 004029551 0. 867741293 0. 927831638 2. 477624454 1. 602298009 2. 358292804 1. 756904894 0. 830932855 2. 113368174 1. 743070573 0. 936337426 0. 519840545 ASBBS Annual Conference Las Vegas February 2009 Proceedings of ASBBS SBIB AEO CTBK IRM PERY wash up AME WGNB ACAP UBSH EML MCBI CASS CCFH Sterlin Bancshares American Eagle Outfitters Inc Trico Bankshares Iron Mountain Inc Perry Ellis International Brinker International Inc Ametek Inc WGNB Corp American Physicians Cap Union Bankshares Corp Eastern Co Metrocorp Bancshares Cass cultivation Systems CCF Holding Co Oct 31 Nov 14Nov 08 Dec 07 Nov 21 Nov 02 Oct 25 Sep 18 Sep 26 Sep 07 Sep 28 Aug 04 Jul 24 Aug 23 NASDAQ NYSE NASDAQ NYSE NASDAQ NYSE NYSE NASDAQ NASDAQ NASDAQ kerb NASDAQ NASDAQ NASDAQ Volume 16 Number 1 0. 001127642 0. 003616084 0. 001058586 -0. 0000284 0. 002794647 -0. 000020642 0. 00005895 0. 00024115 0. 000317657 -0. 00058103 0. 000419721 0. 000941528 0. 003356848 0. 002118726 1. 165421403 1. 593723526 1. 432917191 0. 627633001 0. 919648907 0. 886164833 1. 31003146 -0. 00226624 0. 066171033 1. 663620313 0. 22686963 0. 121493122 0. 113211419 -0. 08732041 Table 3 describes 10 samples of companies that split their stock on a reverse basis between August 27, 2003 and September 15, 2008, along with their respective alphas and betas.TABLE 3 TICKER OPWV ERIC IWOV SIG COMPANY NAME Openwage Systems LM Ericcson Telephone Co Interwoven Inc Signet Jewelers LTD DATE ANNOUNCED Oct 09 Oct 18 Aug 27 Sept 11 TRADED INDEX NASDAQ NASDAQ NASDAQ NYSE ALPHA 0. 00680888 -0. 006696905 0. 001398048 -0. 000938713 BETA 2. 51286756 1. 949328188 1. 469236928 0. 891488791 ASBBS Annual Conference Las Vegas Fe bruary 2009 Proceedings of ASBBS BFLY REV CNXT IACI TMTA ERIC Bluefly Inc Revlon Inc Conexant Systems Inc. IAC/ InterActiveCorp Transmeta Corporation LM Ericcson Telephone Co April 3 Sep 15 June 2 June 09 Aug 15 April 09 NASDAQ NYSE NASDAQ NASDAQ NASDAQ NASDAQ Volume 16 Number 1 -0. 00449535 0. 000925943 -0. 004900502 -0. 001442165 -0. 002052045 -0. 004006643 0. 070525685 0. 902722337 1. 73193906 0. 982384488 1. 265168622 -0. 16807384To test for semi-strong market efficiency the following null and alternative hypotheses are utilize for the three stock split samples H10 The risk adjusted return of the stock price of the sample of firms announcing stock splits is not importantly change by this type of information on the announcement date. H11 The risk adjusted return of the stock price of the sample of firms announcing stock splits is meaningfully positively affected by this type of information on the announcement date. H20 The risk adjusted return of the stock price of the sample of firms announcing stock splits is not world-shatteringly affected by this type of information around the announcement date as define by the event period. H21 The risk adjusted return of the stock price of the sample of firms announcing stock splits is epochally positively or negatively affected around the announcement date as defined by the event period.QUANTITATIVETESTS AND RESULTS Did the market react to the announcements of regular two for one, the regular three for two, and the reverse stock splits? Was the information surrounding the event significant? Apriori, one would expect there to be a significant difference in the Actual Average Daily Returns (Day -30 to Day +30) and the Expected Average Daily Returns (Day -30 to Day +30) if the information surrounding the event impounds new, significant information on the market price of the firms stock. If a significant risk adjusted difference is observed, then we support our hypothesis that this type of information did in fact s ignificantly either increase or accrue stock price.To statistically test for a difference in the Actual Daily Average Returns and the Expected Daily Average Returns over the event period day -30 to day +30, we conducted a paired sample t-test for the three samples and found a significant difference at the 5% take aim between actual average daily returns and the risk adjusted expected average daily returns. Average Excess Return (AER) graphs are shown below. Results here support the alternate hypothesis H21 The risk adjusted return of the stock price of the sample of firms announcing stock splits is significantly affected around the announcement date as defined by the event period. This finding supports the meaning of the information around the event since the markets reaction was observed. ASBBS Annual Conference Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Is it possible to isolate and observe the samples daily response to the announcement from day -30 to day + 30?If so, at what level of efficiency did the market respond to the information and what are the implications for market efficiency? Another purpose of this analysis was to test the efficiency of the market in reacting to the three samples of stock split announcements. Specifically, do we observe weak, semi-strong, or strong form market efficiency as defined by Fama, 1970, in the efficient market hypothesis? The linchpin in the analysis is to determine if the AER and CAER are significantly different from zipper or that there is a visible graphical or statistical relationship between time and either AER or CAER. T-tests of AER and CAER both time-tested different from zero at the 5% level of significance.Likewise, observation of the following CAER Charts (graphs of CAER from day 30 to day +30 for each sample) confirm the significant positive reaction of the risk adjusted returns for the two forward split samples up to 27 pre-announcement and a significant negative reaction for the reverse split sample up to 30 days prior to the stock split announcement. Two for one stock split announcements ASBBS Annual Conference Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Three for two split announcement ASBBS Annual Conference Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 Reverse split announcement ASBBS Annual Conference Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1There are three forms of market efficiency as defined by Fama, which are strong, semi-strong and weak form efficiency. Observation of the CAER graphs against time for two for one and three for two stock split announcements shows a positive reaction twenty seven days prior to the announcement date. Reverse splits are ordinarily done in order make the stock more appeal for investors with an unusual low market price. (Lawson) Also, reverse splits might be used in order to reduce the number of shareholders of the company. As an example if a 1-10 reverse stoc k split is made effective, the investor will have ten times less shares than before, but at ten times the price.In the reverse split case, the CAER graph suggests that return falls from day -30 until day -15, while then increasing until day 10. After day 10 the stock suck ins to level off. CAER graphs for two for one and three for two stock splits show how excess return rises up to 27 days prior to the announcement day. From Day 0 until Day 30 stock returns start to level off. This evidence supports Hypothesis H10, which states that stock price is not affected by this type of information on the announcement date. The stock return has already been adjusted before the stock split announcement is made. The investor cannot trounce the market by using public information.The price has already been affected by the announcement of two for one and three for two stock split announcement. After the announcement day, from days 6 to 16 the return goes up, which is caused by investors that reac t favorably to the announcement by buying more shares. After this small increase, stock price decreases and levels off. The CAER graphs support the idea that the market is semi- strong form efficient. For the samples analyzed, public information does not affect stock price on the announcement day. Reaction is observed up to 27 days prior to the announcement date which suggests that to be able to outperform the market you must be aware of inside information.CONCLUSION The purpose of this study was to test whether the investor can make an above normal return by relying on public information impounded in a stock split announcement. Using risk adjusted event study methodology, this study tests how and when public announcements of forward and reverse stock splits affect stock price. Stock split announcement samples include 38 two for one, 39 three for two, and ASBBS Annual Conference Las Vegas February 2009 Proceedings of ASBBS Volume 16 Number 1 10 reverse splits. A total of 36,714 obse rvations for the announcement samples and the corresponding S 500 stock index were analyzed using standard risk adjusted event study methodology. Results suggest that the firms public stock split announcements did not affect stock price on the announcement day.Rather, for the two for one and three for two forward split samples, stock price exhibited a significant positive reaction up to 27 days prior to the announcement. For the reverse split sample, stock price exhibited a significant negative reaction up to 30 days prior to the announcement. Results support the semi- strong form efficient market hypothesis since stock prices adjust so fast to public information that no investor can earn an above normal return by trading on the announcement day. Investors greet forward stock split announcement with a positive sign, whereas they view reverse splits as bad news. Management may be using stock splits to adjust stock price to a more marketable range, downward with forward and upward for reverse splits.Evidence here suggests signs of insider trading activity up to twenty-seven days prior to the announcement of the stock split. ASBBS Annual Conference Las Vegas February 2009 Proceedings of ASBBS REFERENCES Volume 16 Number 1 Asquith, Paul, Paul Healy, and Krishna Palepu. Earnings and Stock Splits. The Accounting refreshen 64 (1989) 387-403. Barker, C. A. , Effective Stock Splits, Havard Business Review, XXXIV (January-February, 1956), pp. 101-106 Easely, David, Maureen Ohara, and Gideon Saar. How Stock Splits Affect trade a Microstructure Approach. The diary of Financial and Quantitative Analysis 36 (2001) 25-51. Fama, Eugene F. effectual Capital Markets a Review of Theory and Empirical Work. The journal of finance, 25 (1970) 383-417. 9 Dec. 2007 . Fama, Eugene F. , Lawrence Fisher, Michael C. Jensen, and Richard Roll. The Adjustment of Stock sets to New Information. International Economic Review 10 (1969) 1-21. 9 Dec. 2007 . Ikenberry, David L. , Graeme Ra nkine, and Earl K. Stice. What do stock splits really signal?. Journal of Financial and Quantitative Analysis 31. n3 (Sept 1996) 357(19). General OneFile. Gale. Longwood University. 9 Dec. 2007 . Johnson, Keith B. Stock Splits and Price Change. The Journal of Finance 21 (1966) 675-686. 9 Dec. 2007 .Lakonishok, Josef, and Baruch Lev. Stock Splits and Stock Dividends Why, Who, and When. The Journal of Finance 42 (1987) 913-932. Lamoureux, Christopher G. , and Percy Poon. The market reaction to stock splits. Journal of Finance 42. n5 (Dec 1987) 1347(24). General OneFile. Gale. Longwood University. 9 Dec. 2007 . Lawson, Michael J. Reverse Stock splits The Fiduciarys obligations under State LAw. atomic number 20 Law Review 63 (1975) 1226-249. Malkiel, Burton G. Is the stock market efficient?. Science 243. n4896 (March 10, 1989) 1313(6). General OneFile. Gale. Longwood University. 9 Dec. 2007 . ASBBS Annual Conference Las Vegas February 2009

India Student

With his go against economic situation, the Indian Families are using to pay for this foreign hazard of education. The propose of this survey it is to check wheres at one time the to the highest degree popular heap for the Indians Students. A few years ago used to be Australia, notwithstanding now The Indians are choosing other Destinies. India Aspects Republic of India is a earth in South Asia. It is the seventh-lorgnettes by area, the second-most populous country with all over 1. Billion plenty, and the most populous democracy in the world. Bounded by the Indian nautical on the south, the Arabian Sea on the south-west, and the Bay of Bengal on the out-east, it shares bring down borders with Pakistan to the west China, Nepal, and Bhutan to the north-east and Burma and Bangladesh to the east. In the Indian Ocean, India is in the vicinity of Sir Lankan and the Maldives in addition, Indians Madman and Nicolai Islands share a maritime border with Thailand and Indonesia.Ho me to the ancient Indus vale Civilization mostly in present day Pakistan and a region of historic trade routes and vast empires, the Indian subcontinent was identified with its commercial and pagan wealth for much of its long history. Four religions-?Hinduism, Buddhism, Jansenism, and Schism-?originated here, whereas Judaism, Zoroastrian, Christianity, and Islam arrived in the 1st millennium CE and also helped shape the regions diverse culture.Gradually annexed by and brought under the arrangement of the British East India Company from the early 1 8th speed of light and administered directly by the United Kingdom from the mid-1 9th century, India became an independent nation in 1947 after a struggle for independence that was marked by non-violent tube led by Mahatma Gandhi. The Indian sparing is the worlds tenth- largest by nominal col and third-largest by purchasing power parity . Following market-based economic reforms in 1 991 India became one of the fastest-growing major economies it is considered a newly industrialized country.However, it continues to looking at the challenges of poverty, corruption, malnutrition, inadequate public healthcare, and terrorism. A nuclear weapons state and a regional power, it has the third- largest standing army in the world and ranks ninth in army expenditure among nations. India is a federal constitutional republic governed under a parliamentary systematizing of 29 states and 7 union territories. India is a pluralistic, multilingual, and a multi-ethnic society. It is also home to a diversity of wildlife in a concoction of protected habitats.Economic facts related with the grow outlet of Students Be it the US, 1-K, Australia or refreshful Zealand, the number of Indian students deprivation to battlefield overseas has risen tremendously. tally to Ministry of Overseas Affairs, demand for overseas higher education is increasing with over 2. 64 lack Indian students, who have gone abroad for studies, using up ap proximately about RSI 27,000 core (55. 5 billion) every year. With the Indian economy growing at 7 percent annually, jobs are being created in India and he middle class is growing.Inevitably, this is leading to an increased level of prosperity, thereby increasing the affordability of an expensive overseas education, and dramatically increasing the career aspirations of a growing number of Indians. This coupled with a weakened US dollar, Australian dollar and UK sterling pound is driving a growth in the overseas education market. According to Ministry of Overseas Affairs, out of 264,324 students gone abroad, maximal of 104,522 are in the US followed by over 97,035 in Australia, 25,905 in the UK and over 6,040 in refreshed Zealand. International Student EnrolmentsUnited Kingdom, Canada, United States, Australia and New Zealand This countries have the half of the world international educations consumption. With the follow analysis we are going to see the current trends into three of those countries revising important info from the outlive reported five years, defining which nation is the main overseas educations consumer and finally show the particular case of Australia and its trends. The graphic is about the meter of rolled students that came to Australia, Canada And New Zealand from 2008 to 2012 per year.Table 1 graphical 1 The data shows that Australia cool off has the major number of students impairing with the Key competitors. The Mean number of overseas students enrolled in this 3 countries shows that Australia Still have the major quantity of students. Table 2 MEAN Australia 573,6 Canada 21 New Zealand 95,9 2. Main Nationalities Enrolled and the insane Students destiny being into the details we can see where the students came from. And its is going to be more liberal to understand the grow or the degree of the number of Indian students.Table 3 2008 2009 2010 201 1 2012 Country % OF Total China 23. 4 24. 5 27. 1 28. 6 29 did 62 3. 1 India 10. 5 Korea 6. 5 5. 7 5. 4 Thailand 4. 1 4. 2 Vietnam 4. 4. 4 Malaysia 3. 9 Nepal 4 India 5. 5 hind 6. 1 hind China 30. 4 15. 4 13. 2 113 India 9. 9 10. 9 USA 6. 6 5. 6 8 9. 1 7. 2 France 4. 8 4. 9 Arabia 4. 5 5. 3 5 4. 6 23. 1 22 23. 7 26. 3 19 16. 6 12. 6 12. 2 Japan 11. 8 10. 1 11. 7 12. 5 10. 7 Europe 9. 7 9. 5 9. 8 SEAN 10. 3 8. 5 9 9. 6 9. 4 Graphic 2 Graphic 3 Graphic 4 As we can see, Australia has been lost the umber of Indian Students.Canada Shows that the country has the biggest growing the percentage of Indian Students, and New Zealand has been growing in a slow ways as also. According to Fuller, the percentage of Indian students enrolling in New Zealand institutes has increased nearly 300 % in the last sixsome years. In 1 998, only 150 Indian students enrolled. This figure go to 2159 in 2002, and 7,263 new enrolments in 2008 and 9521 in 2009 . Nearest Galatia, CEO of oceanic Consultants, opines that Kiwi land offers the scoop out and affordable education under the rightst purlieu and an easy permanent residency.This is driving the growth of higher education in New Zealand from overseas students. The soaring numbers suggest that the economic downswing has not affected everyone. Says Nearest Galatia, Both Australia and New Zealand offer safe learning environment with excellent study opportunities and support services for international students. Academic institutions in both the countries are world class and acknowledge globally. New Zealand enjoys a 20 per cent cost advantage over Australia which can make a huge difference in these kindling times. Why the Indian Students are deciding for other countries? Despite the last facts that occurred in Australia, some Indian Students are choosing for other destinies. In the phrase from BBC News we can see that in Australia has been occurring a lot of racialism acts against South Asian muckle. And the principal complain its because the students affirm that the Australia government do not punish racism acts how it suppose to do. Indian students are going through a rough time at the moment.I witnessed the Harris Park installation the scene of one attack. The student was ready to give a statement, exclusively the police didnt record it as he had failed to get the registration number of the attackers car. Police are patrolling Harris Park and helicopters are also being used. many an(prenominal) people comment that it is waste of taxpayers gold. But they do not understand that these students pay hefty fees and taxes, more so than the whinnying locals. Victorian police says that the Indians bring in attackers by flaunting their pods and laptops.But every second person has pods and laptops, so why do these attacks happen only to Indian people? Education is the third largest export of Australia. If the government cannot ensure the safety of the students who pay the fees, then they should give up the education trade Paul Parkas, a manager in the telecoms industry, inflexible to return t o India after feeling he was bullied by his Australian colleagues. forward going to Australia lived and worked in Saudi Arabia, Holland and all major cities of India, unless got the pommel work place experience from Australia.My employer and management were very supportive but my colleagues hated me and bullied me. They created an unbearable environment just because got the highest I dont think its a race problem. If it was, people from Africa and the Middle East would be affected too. The topic cause of all this is the sudden rise Of the number Of Indian people in all levels Of society. Middle-aged Australians are worried about losing their jobs to one-year-old and educated immigrants from India. The government should be tough on people who hand out hatred and violence in the society.Australians have to understand that their country is a home to many nationalities and their economy is doing well with the support of immigrants. Conclusion Australia is the best choose for a lo t of students because of many facts The whether, the language, the possibility to work licitly the beautiful views and the life style. Casually is a important fact that brings a lot of money to the country and also brig people that work in some kinds of jobs that they do not have people interested and people enough to work on it. But Despite for Of this recently facts, Indians now are choosing other destinies.No one person will spend money in a place that maybe they can be anger just because of the color of the skin or the religion choose. The government should dinero to punish severally, that people that do not know how to lead in society . Shout to start to control who is working and what kind of conditions. whence Australia could be again the better destiny for people that requisite to study in other country, want to improve the language or want to leave new presences.

What Are the Benefits Outsourcing Web Development Services

Today market being fully dependent of E-commerce technologies, either organization needs to be regularly modifyd with in vogue(p) technologies & factors that emphasis on quality picture of their organization. Today E-commerce has become a basic medium to expand your line of descent globally. But to ensure quality of your Web covering you need to Outsource Web development help.There is no incertitude that anyone can carry out the development on their sustain. But, if some factors analogous cost, time, R&D, quality, experience, search engine cozy code, etc are considered, Outsourcing is the highly recommended. Outsourcing companies ensures business quality service by using latest technology on tap(predicate) and also you will get your Web application developed on time with no or less bugs left, at reasonable cost. side by side(p) points will give you detailed understanding of How Outsourcing of Web Development service will be beneficial considering all of this factors? * St andard development passage Many Companies follows strict process model. Clients are assured of the standard touch on and get their development work completed on-time and delivery without any complication.* fall your Development Cost To develop any quality product, we need ball-hawking & undergo staff, also lots of cost need to be worn-out(a) on R&D and setup of space for development. While if you source development service you need to pay very reasonable inwardness which in turn guarantees you scoop up service with search engine friendly & light weight web application developed using latest technologies & tested in all terms.* Reliable and Accurate All these companies prolong experience & knowledge of development, so the delivered product will be authentic & accurate in terms of outputs which the thickening demanded.* Future enhancement As every company wants to maximize their business, these companies provide regular maintenance and notifications to update your product if required.There are many invisible benefits of Outsourcing on client side also. Clients can * Further concentrate on their routine without bothering approximately their Web development process. So time is saved. * Save money by choosing Outsourcing which is nearly equal to half the cost required in own development process. so you can use them for future enhancement & maintenance. * exhaust chance to know new process models & their skilled knowledge. * Expect best recommendations & latest technologies that best suits your business requirements & success on the basis of their experienced skills and requirement analysis.

Difference between personnel management and HRM Essay

Difference amid humankind Resource instruction and forcefulness concern Human option c ar involves all concern decisions and practices that directly affect or influence the bulk, or human alternatives, who fit for the organization. In other words, Human resourcefulness way is refer with plurality centric issues in anxiety.The Human Resources recognisement (HRM) aim includes a variety of activities, and key among them is deciding what mental facultying needs you have and whether to use independent contractors or hire employees to fill these needs, recruiting and rearing the best employees, ensuring they be high per deviseers, dealing with performance issues, and ensuring your forcefulness and counseling practices conform to various(a) regulations. Activities also include managing your forward motion to employee benefits and compensation, employee records and military group policies. Usually small livestockes (for- value or nonprofit) have to carry out the se activities themselves because they domiciliatet besides undergo office staff- or full-time help. However, they should always delay that employees have and be certain of force play policies which conform to current regulations. These policies are often in the form of employee manuals, which all employees have.DIFFERENCES BETWEEN HRM AND PERSONNEL MANAGEMENTALTHOUGH both(prenominal) human resource management (HRM) and power management boil down on battalion management, if we take critically, there are m both differences amidst them. Some are listed belowi) Nature of relations The nature of relations bottom be seen with two different prospect views which are Pluralist and Unitarist. There is a work out distinct difference between both because in forcefulness management, the steering is more than on item-by-itemistic where individual lay to restest is more than theme interest. The relationship between management and employees are merely on contractual basis where one hires and the others perform. Whereas, HRM focuses more on Unitarist where the word uni refers to one and together. Here, HRM through and through a divided up vision between management and staff progress to a corporate vision and mission which are linked to business goals and the fulfillment of mutual interest where the organizations needs are satisfiedby employees and employees needs are well-taken care by the organization.Motorola and Seagate are good examples of organizations that belief in this Unitarist mount which also focuses in police squad management and sees employees as partners in an organization. Relation of power and management The statistical distribution of power in personnel management is centralized where the top management has full authority in decision-making where even the personnel managers are non even allowed to give ideas or take part in any decision which involves employees. HRM, on the other hand, sees the decentralization of power where the power between top management is shared with middle and lower management groups. This is cognise as empowerment because employees play an important portion together with line and HR managers to make collective and mutual decisions, which can benefit both the management and employees themselves.In fact, HRM focuses more on TQM feeler as part of a team management with the involvement and participation of management and employees with shared power and authority. The nature of management is focused more on bottom-up approach with employees giving feedback to the top management and then the top management gives support to employees to achieve mutually agreed goals and objectives.ii) Leadership and management role Personnel management emphasizes much on drawship style which is genuinely transactional. This style of leadership merely sees the leader as a delegate-oriented person. This leader focuses more on procedures that essential be followed, punishment form non-performance and n on-compliance of rules and regulations and arrogate figures and task accomplishments ahead of human factors much(prenominal) as personal bonding, social relationship, trust, understanding, tolerance and care. HRM creates leaders who are transformational. This leadership style encourages business objectives to be shared by both employees and management. Here, leaders only focus more on people-oriented and importance on rules, procedures and regulations are eliminated and replaced withShared vision corporate culture and missionsTrust and flexibility andHRM needs that integrates business needs.iii) Contract of fight In personnel management, employees contract of employment is clearly written and employees must observe strictly the agreed employment contract. The contract is so nonindulgent that there is no room for changes and modifications. There is no compromise in written contracts that stipulates rules, regulations, business line and obligations. HRM, on the other hand, does non focus on one-time life- bulky contract where working hours and other terms and conditions of employment are seen as less rigid. Here, it goes beyond the normal contract that takes place between organizations and employees.The saucily flexible approach encourages employees to choose various ways to keep bring their skills and knowledge to the organization. HRM, with its new approach, has created flexi-working hours, work from home policies and not forgetting the creation on open contract system that is currently practiced by around multinational companies such as Motorola, Siemens and GEC. HRM today gives employees the opportunity and emancipation to select any type of working system that can sheath them and at the same time benefit the organization as well. Drucker (1996) calls this approach a win-win approach.iv) Pay policies and vocation practice Pay policies in personnel management is merely based on skills and knowledge required for the perspective jobs only. The val ue is based on the ability to perform the task and duties as per the employment contract requirement only. It does not encourage value-added incentives to be paying out. This is also because the job design is very utilitarian, where the expires are more departmentalized in which each job falls into one functional department. This is merely know as division on tire based on job needs and skill possessions and requirement. HRM, on the contrary, encourages organizations to boldness beyond pay for functional duties.Here, the pay is designed to encourage continuous job performance and utility which is linked to value-added incentives such as gain sharing schemes, group profit sharing and individual incentive plans. The job design is no more functional based but teamwork and cyclical based. HRM creates a new approach towards job design such as job rotation which is inter and intra-departmental based and job enlargement which encourages one potential and capable individual to take on more tasks to add value to his/her job andin return enjoy added incentives and benefits.Human resource management is the new interpretation of personnel management. There is no any watertight difference between human resource management and personnel management. However, there are more or less differences in the following matters.1. Personnel management is a traditional approach of managing people in the organization. Human resource management is a modern font approach of managing people and their strengths in the organization.2. Personnel management focuses on personnel administration, employee welfare and labor relation. Human resource management focuses on acquisition, victimisation, motif and maintenance of human resources in the organization.3. Personnel management assumes people as a input for achieving desired output. Human resource management assumes people as an important and valuable resource for achieving desired output.4. Under personnel management, personnel functio n is undertaken for employees satisfaction. Under human resource management, administrative function is undertaken for goal achievement.5. Under personnel management, job design is make on the basis of division of labor. Under human resource management, job design function is done on the basis of group work/team work.6. Under personnel management, employees are provided with less schooling and using opportunities. Under human resource management, employees are provided with more training and development opportunities.7. In personnel management, decisions are do by the top management as per the rules and regulation of the organization. In human resource management, decisions are made collectively after considering employees participation,authority, decentralization, competitive environment etc.8. Personnel management focuses on increased production and satisfied employees. Human resource management focuses on effectiveness, culture, productivity and employees participation.9. Per sonnel management is pertain with personnel manager. Human resource management is concerned with all train of managers from top to bottom.10. Personnel management is a routine function. Human resource management is a strategic function.Human resource management bygone and presentHuman resource management has changed a lot in the past 100 years. Previously, HRM was called personnel administration or personnel management, that is, it had to do with the staff or workers of an organisation. It was mainly concerned with the administrative tasks that have to do with organising or managing an organisation, such as record keeping and dealing with employee wages, salaries and benefits. The personnel officer (the person in charge of personnel management) also dealt with labour relations.such as problems with trade unions or difficulties between employers (those who employ workers) and their employees. Before we look at the role of HRM in organisations today, we will examine the way people were managed in organisations in the past.DefinitionPersonnel Management Personnel Management is thus basically an administrative record-keeping function, at the operational level. Personnel Management attempts to maintain fair terms and conditions of employment, while at the same time, efficiently managing personnel activities for individual departments etc. It is assumed that the outcomes from providing justice and achieving efficiency in the management of personnel activities will result ultimately in achieving organisational success. Facts +The U.S. Office of Personnel Management (OPM) is the worlds largest HR department. OPM provides HR services for the federal governments workforce of nearly 2.8 million workers. Its staff carry out the tasks to recruit, interview, and promote employees oversee merit pay, benefits and retirement programs and ensure that all employees and applicants are treated fairly and according to the law.To set the boob cost-of-living allowances rates, t he Office of Personnel Management (OPM) surveys the prices of over 300 items, including goods and services, housing, transportation, and miscellaneous expenses. OPM conducts these surveys in each of the COLA areas and in the Washington, DC, area.Human resource management is concerned with the development and implementation of people strategies, which are integrated with corporate strategies, and ensures that the culture, value and structure of the organization, and the quality, motivation and commitment of its members contribute fully to the achievement of its goals.HRM is concerned with carrying out the SAME functional activities traditionally performed by the personnel function, such as HR planning, job analysis, recruitment and selection, employee relations, performance management, employee appraisals, compensation management, training and development etc. But, the HRM approach performs these functions in a qualitatively translucent way, when compared with Personnel Management.M ain Differences between Personnel Management and HRMHRM has a long history of growing from a simple welfare and maintenance function to that of a board level activity of the companies. In recent years, the focus on people management from human cracking/intellectual capital perspective is also shaping firmly. However, the hard fact is that this growth can be generally witnessed in management literature and rarely in practice. Peripheral observation of people management in organization can mislead the observers since, hardly there could be any organization that isyet to rename its old fashioned title of industrial relations/personnel/welfare/administration department into HRM department. But, in practice, these organizations continue to handle the people management activities the way they had been handling earlier. The springs for this could be many and varied. Among them, the potential reason is lack of clear understanding about the differences between personnel/IR and HRM.Professo r John Storey brilliantly portrayed these differences in 27 areas of people management in 1992 in his book titled Developments in the Management of Human Resources. These differences are illustrated in TableDimensionsPersonnel and IRHRMBeliefs and assumptions1. ContractCareful delineation of written contractsAim to go beyond contract2. RulesImportance of devising clear rules/mutuallyCan-do panorama Impatience with rule3. Guide to management actionProceduresBusiness-need4. Behaviour referentNorms/custom and practiceValues/mission5. Managerial task vis-a-vis labourMonitoringNurturing6. Nature of relationsPluralistUnitarist7. ConflictInstitutionalizedDe-emphasizedstrategic aspects8. hear relationsLabour managementCustomer9. InitiativesPiecemeal corporate10. Corporate planMarginalCentral11. Speed of decision delayFastLine management12. Management roleTransactionalTransformational leadership13. Key managersPersonnel/ IR specialistsGeneral/business/line managers14. Communication indire ctDirect15. StandardizationHigh (e.g. parity an issue)Low (e.g. parity not seen as relevant)16. Prized management skillsNegotiationFacilitationKey levers17. SelectionSeparate, marginal taskIntegrated, key task18. PayJob evaluation (fixed grades)Performance-related19. ConditionsSeparately negotiated harmonization20. Labour-managementCollective bargaining contractsTowards individual contracts21. Thrust of relations with stewardsRegularized through facilities and trainingMarginalized (with exception of some bargaining for change models)22. Job categories and gradesMany fewer23. CommunicationRestricted flowIncreased flow24. Job designDivision of labourTeamwork25. Conflict handlingReach temporary trucesManage climate and culture26. Training and developmentControlled access to coursesLearning companies27. Foci of wariness for interventionsPersonnel proceduresWide ranging cultural, structural and personnel strategies

Essay on Reality Shows Should Not Be Banned

Reality television has become very popular everyplace the past decade with poses such as Survivor, Big crony and The Apprentice attracting big audiences and making a lot of money for broadcasters worldwide. A definition of naive realism television is quite difficult tho at its most basic it means programmes that show things truly taking place, kind of than drama or comedy that follows a script. Typi addressy ingenuousness TV involves a group of state who are not trained actors macrocosm filmed in unusual situations over a period of time.Sport and intelligence agency programmes are not considered reality TV. Documentaries that explore aspects of society are a grey area, with some closer to news reporting and others blurring into reality TV because they set up situations which did not already exist. Recently celebrity versions of reality shows have made definition even harder, because they show the private lives of lord singers, actors, sportspeople, etc. as they cope with new situations.Reality TV is often a hot topic as proponents believe it paints an unrealistic and inappropriate depiction and is therefore bad for our society and the children that make up the majority of the audience. They call for a cut in the number of hours given over to reality programmes, or even to ban them completely. Opponents meanwhile maintain that people should be allowed to watch what they like, and that reality programmes make good TV, as shown by systematically high viewer figures.Reality TV is dishonest it pretends to show reality but it actually distorts the truth to suit the programme makers. The shows are not really real they are carefully cast to get a alloy of characters who are not at all typical. Mostly they show a bunch of young, good-looking self-publicists, who will do anything to get on TV. commonly the programme makers try to ensure excitement by picking people who are likely to clash with each other.They then place them in unnatural situations, suc h as the Big Brother house or the Survivor island, and give them strange challenges in order to provoke them into behaving oddly. In The Bachelor, where a group of women compete for the affections of an eligible male, the intimate dates they go on are filmed in front of any number of tv camera that is not reality (Poniewozik, 2003).Finally the makers film their victims for hundreds of hours from all angles, but only show the most dramatic parts. Selective editing may be apply to create storylines and so further manipulate the truth of what happened.

Eefects of Leadership Styles on Employee Prformance

CHAPTER ONE INTRODUCTION 1. 0OVERVIEW This chapter coers the background selective development of the meditate, statement of the problem by the inquiryer and intents of the check to be attained. It in addition covers the research questions, signifi croupt of the get wind as easily as the kitchen stove of the study and its limitations. 1. BACKGROUND INFORMATION There is an ongoing problem active persistinghip geniuss and its impact on various aspects of employee execution of instrument and their engage-related health.It has been suggested that loss attractions factors had an decide on the employee hold bulge(p), although kindred among attracters and subordinates has gradually been to a greater extent(prenominal) focus and it is still scientifically un legislate as to what consummation and in what ways attractors cultivate the employees mental process. The leader quarter be class forth as a possessor of the tools to create and change the anatom ical building and culture inside an transcription. The structural changes settle up led to current demands on employees tract qualification and ancestry leader to handle changes, which is referred to as a heath venture (Aronson & Sjogren, 1994).With the ever ever-changing communication driveway landscape of to a greater extent and innovative competitors, or so service firms recognize the train to introduce innovations and new technologies within their organisational processes to stay in the market, or retain their belligerent expediency comp ard to their rivals. An strive was made to find out the correlation amongst lead subscribeion of mangers and surgical process and ecstasy of practicers and fol lights. egalitarian/ partitioningicipative leading way involves employees in end fashioning process (determining what to do and how to do it) to attain the outline of rules goals.Using this behavior is not a sign of weakness, instead is a sign of force pl ay that our employees leave al unmatchableing respect. This is normally apply when you rent part of information, and your employees gull an different(prenominal) parts. Note that a leader is not judge to know e genuinelything. This is wherefore you employ knowledgeable and skilful employees. Using this zeal is of mutual benefit. It allows them to capture part of the police squad and allows you to make discover findings. A elected leading hyphen result lead to the custom of non-controlling tactics of influence in which passenger cars and employees discuss exert-related issues.It is as well useful for the carrying into action evaluation as illustrated downstairs- 1. 1. 1 Diagram showing execution evaluation. 1. 2STATEMENT OF THE PROBLEM The descent betwixt leadership course and employee executing has been a subject controversy by researchers (Nwadian 1998 and Adeyeni 2006). The controversy was centered on whether or not the leadership demeanor influences the take aim of contrast carrying into action among employees. Common observation shows that leadership carriage could perhaps fall in serious impact on gentle kinship consequently necessitateed the employee carrying into action.For the purpose of steep execution of employees and subordinates in that location was the enquire of using nigh(a) leadership mood and in addition important. Research in whatever case described that strong leadership miens set up enhance the employee mathematical operation and consignment with their job. So the execution of leadership styles is unrivaled way that with use of polar leadership styles, leaders displace construct load and job felicity of employees that add-on their writ of execution. 1. 3RESEARCH OBJECTIVES The general purpose of the study was to render the birth between employees movement and leadership style.The specific objectives of the study were i) To identify the extent of elected leadership style util ize in the arranging. ii) To feel the indicators of employee surgical process. iii) To establish the family between democratic leadership style and employee carrying into action. 1. 4RESEARCH QUESTIONS The study covers the questions which atomic number 18 from the objectives so that it answers them appropriately. i) To what extent does democratic leadership style improve employees cognitive process? ii) What argon the indicators of employees exertion? iii) Is in that respect undecomposed relationship between democratic leadership style and employee performance? . 5SIGNIFICANCE OF THE STUDY The study intends to bridge the bedcover between the researcher and some other previous researchers who undertook a similar case study. This study pass on benefit other researchers in learning instruction such(prenominal) as universities to make type from. It shall likewise benefit companies in the way that they allow befool knowledge more or less the use of democratic leadershi p style and employee performance. Employers will generally have an over locating of how leanable and effective democratic leadership style should be handled through the project.It is hoped that as a result of the study, employees at the marrow focussing and trim down level will benefit from more productive and efficiencies in perform their duties. 1. 6SCOPE OF THE STUDY The study was conducted in Mombasa Municipal Council in Coast responsibility Mombasa District at Mwembe Tayari. 1. 7LIMITATIONS OF THE STUDY 1. Time limitation 2. Lack of m angiotensin-converting enzymey to facilitate and complete the study 3. Lack of material for reference 4. revelation of information by the people. 1. 8DEFINITION OF TERMINOLOGIES 1. 8. 1 leading hyphenleaders style is the conduct of leader that has expressed ability to influence the subordinates toward the deed of goals (Armandi Oppedisans & Sherman 2003). lead style has been classified in dissimilar ways in preliminary researches. Some of them argon as follows- 1. Participative leadershiphip Style Is defined as a leader who sh bes decision making with mathematical sort genus Phalluss or subordinates (Dubrin, 1995). The leader will identify the problem, generate solutions and approximate the alternatives together with subordinates.The decision-making of participative leadership style is decentralized authority throughout the scheme (Steers, 1977). 2. Democratic Leadership Style Is defined as a friendly, facilitative leader who encourages involvement. A leader with a democratic leadership style sh bes his or her power with subordinates and decisions are made by consensus or bulk vote (Seidenberg & Snadowsky, 1976). Democratic leaders encourage subordinates to discuss and make decisions as a ag conference on the policy and steps towards achieving goals. 3. peremptory Leadership StyleIs defined as a straightive leader, controlling, discouraging or suppressing participation. An unconditional leader cen tralizes power with little or no room for subordinates to inscribe in decision-making process (Seidenberg & Snadowsky 1976). controlling leader determine all policies, impose techniques and activities, assign lying-ins and calculate partners to assembly members and are virtuallybodyal in their upbraiding and praise. 1. 8. 2INDIVIDUAL murder This dejection be stated as the product of ability multiplied by motivation it gives performance.Furthermore it grass be the belief that performance is ultimately an single(a) phenomenon with environmental factors influencing performance primarily through their enterprisingness on the individual determining factors of performance. Despite the motivation to perform, it is necessary to briefly highlighting the barriers that might affect the performance of employees. 1. 8. 3INFORMATION This is the processed information which was unruffled, interpreted and analyze to give a meaning. 1. 8. 5POPULATION It refers to the entire group o f individuals having a common characteristic. . 8. 6SAMPLE This is a small group obtained from the accessible population. 1. 8. 7SAMPLING It is the process of selecting a number of individuals for a study in such a way that the individual selected contain the population. 1. 8. 8STATISTICS This is the science of organizing, describing and analyzing entropy. CHAPTER TWO LITERATURE REVIEW 2. 0OVERVIEW This chapter covers all the nationalations check into from different authors of different text books, ledgers, newspapers, magazines and any other related consultation of obtaining information. 2. 1. 1PURPOSEThe purpose of the research was regularized on managerial initiative, the technique had been use to solve the following problems- Lack of operating flexibility start morale Poor work quality senior high school labour criminalover High absenteeism 2. 1. 2DEMOCRATIC LEADERSHIP BENEFITS This brings about the following- Improvement of productivity Improvement in quality of a product/service delivered It downs labour turnovers It reduces need for direct supervision Reduction in idle term Increase of nifty communication which brings about feedbacks. 2. 2INFLUENCES OF executionNevertheless, the principle influence on the judicature performance is the quality of the workforce at all levels of the governing. The function that homosexual resources can play in deducting a competitive advantage for an organization is by trial and error well documented (Brewster, Carey Dowling, Grobler, Holland and Warnich, 2003). For organizations to accomplish their goals, they essential continually look for die ways to organize and manage their work. There is a growing learning that the primary source of competitive advantage is derived from an organizations human resource.This was not always the case, as human resources were traditionally seen as a cost (Brewster, et al, 2003). Due to the realization that citizenry are the around valuable assets in an organization, the importance of performance concern has been pushed to the fore (Bartlett and Ghoshal, 1995). The complexity of managing organizations at present requires managers to view performance in several areas simultaneously. The performance measurement corpse employed in an organizational must therefore measure the performance of all assets including the human atomic number 53s.The Balance scorecard of Kaplan and Norton (1996) is a mechanism which provides a holistic measure of organizational performance. It is a set of measures that provide mangers a fast but comprehensive view of the business. The Balanced scorecard is not all a measurement system but in addition a management system, which enables organizations to clarify their vision and strategy and translate them into action (Kaplan ad Norton, 1996). It provides feedback around both the internal business processes and external outcomes in govern to continuously improve strategic performance and results.When fu lly deployed, the Balance bill transforms strategic proviso from an academic utilization into the nerve centre of an enterprise (Norton, 1999). The Balance scorecard holds both financial measures that tell the results of actions already taken, and operable measures that are the drivers of future financial performance (Kaplan and Norton, 1996). It can be seen that the individuals performance has an impact on the organizations wider objectives, and it is olibanum imperative that e really employees performance should be managed.This process of performance management includes group assessments and peer reviews, as well as write reports (Hellriegel et al, 2004). In recent old age performance management system have decease more important because managers are under constant printing process press to improve the performance of their organizations (Holloway, Francis Hinton, 1999). As the performance of organizations influence the organizations continued existence, it is therefore necessary to discuss the notion of managing this performance. 2. 3IMPORTANCE OF public presentation feat is important to us as a people and organizations.In fact, most of us believe that we can, and will, improve at what we do, and we expect others to improve over date as (Temple, 2002). People are an organizations greatest assets individuals and organizations have learned about the importance of the employment of people in an organization depends on its people (Barlett and Ghoshal, 1995). harmonise to (Arm unassailable and Baron, 1998) states that the eccentric of human resources is absolutely particular in raising performance in an organization. Ultimately it is the performance of umteen individuals which culminates in the performance of an organization mount. match to (Hellriegel, et al 2004) states that performance management is an organic part of effective human resource management and development strategy. public presentation management is an ongoing and joint proce ss where the employee, with the assistance of the employer, strives to improve the employees individual performance and his contribution to the organizations wider objectives (Hellriegel, et al 2004). According to Amos, et al (2004) defined performance management as the process that begins with translating the boilersuit strategic objectives of the organization into clear objectives for individually individual employee. public presentation commission can alike be seen to incorporate all of these aspects of human resource management that are designed to progress and/or develop the posture and might of both the individual and the organization (Amos, et at. , 2004). First-class performance management begins and develops with the employees understanding of the organizations expectations (Hendrey, 1995). To elevate and sustain the level of work performance, managers must look past individual or squad performance to a larger arena of play the performance management system (Campbell, McCloy, Oppler and Sagar, 1993).The success of a performance management system is reliant on the commitment/support of an organizations management. exploit Management Systems must be seen to reward personal development and achievement (Hendrey, 1995). Within the performance management field itself, it is important that addresss are viewed to be fair and straightforward across all groups. It is imperative that employees have confidence in their work and recognize that management supports them (Cherrington, 1994 Baird 1996).A good performance management system motivates employees to better their own performance, promotes self-motivation, and builds and strengthens relationships via open communication between employees and managers (Baird, 1986). 2. 4EMPLOYEE PERFORMANCE According to Amos, et al. (2004) states that the effective management of individual performance is critical to the execution of strategy and the organization achieving its strategic objectives. Performance cannot b e left in anticipation that it will develop naturally, despite the employees natural desire to perform and be rewarded for it.This desire require to be accommodated, facilitated and cultivated (Amos, et al 2004). In slip away for this performance, organizations extend themselves in various forms of acknowledgement (Foot and Hook, 1999). Individual performance has become a field of studyal issue in todays business environment, so much so that organizations go to great lengths to pass judgment and manage it (Armstrong and Baron, 1998). Whetten and Cameron (1998) states that individual performance is the product of ability multiplied by motivation.Furthermore, cummings and Schwab (1973) concur with the belief that performance is ultimately an individual phenomenon with environmental factors influencing performance primarily through their effect on the individual determinants of performance-ability and motivation. organisational leadership can be described as the leadership present within the organization, having a direct and confirmatory effect on individual employee performance ability and motivation. According to Cummings and Schwab (1973) describe the need for at least minimal ability forrader an employee can carry out a task, regardless how motivated he may be.Similarly, an abundance of ability will riot result in successful performance if the employee is completely unvoluntary to perform adequately. This view is supported by Vroom (1964) who indicates that factors influencing individual performance within the organization are factors such as the ability of the willingness of the person to exert effort (motivation). 2. 4. 1LEADERSHIP Finally, organizational leadership can be described as the leadership present within the organization, having a direct and indirect effect on individual employee performance.This situation of organizational leadership is advertise substantial in Halls (1996) Competence process, which depicts performance as a dependent corporate competency. The competence process is a lead-dimensional greet consisting of collaboration, commitment and creativity. The message conveyed by an organizations leaders may be one that encourages and enables competence and, in turn, performance. 2. 4. 2FACTORS touch PERFORMANCE Despite the motivation to perform, it is necessary to briefly highlight the barriers that might affect the performance of employees.For organizations purposes factors affecting overall employee performance may be unconnected into cardinal groups Internal and external. Internal factors are those factors over which the organization ha influence and control, such a job descriptions and employee selection. foreign factors are those factors over which the organization has little or no control, such as demands for jobs scoring systems (Hellriegel, et al. , 1999). Having outlined and defined individual performance, it is now necessary for this research, to review the relationship between performance and leadership. . 5PERFORMANCE AND LEADERSHIP Ultimately is the individual employee either performs, or breachs to perform, a task. In order for an organization to perform, an individual must set aside his personal goals, at least in part, to strive for the collective goals of the organization. Thus, effective leadership enables greater participation of the entire workforce, and can in any case influence both individual and organizational performance (Bass, 1997 Mullins, 1999). The success of an organization is reliant on the leaders ability to optimize human resources.A good leader understands the importance of employees in achieving the goals of the organization and that motivating these employees is of dominant importance in achieving these goals. To have an effective organization, the people within the organization need to be inspired to invest themselves in the organizations relegating. The employees need to be stimulated so that they can be effective hence effective organi zations required effective leadership. To have an effective organization, there must be effective and stimulating relation between the people involved in the organization (Paulus, Seta and Baron, 1996).It is generally accepted that the electric potentiality of any set of people is largely dependent on the quality of its leadership. sound leader doings facilitates the attainment, of the pursual desires, which then results in effective performance (Martiz, 1995 Ristow, et al. , 1999). Preliminary research undertaken by (Swanepoel et al. , 2000) appoint that outstanding leaders, in monetary value of effectiveness, are perceived to show a strong and direct, but democratic and participative leadership style, and are seen as agents of change and visionaries who increase organizational performance.According to (Botha, 2001) concludes that the need of firms to flourish in the world of escalating competitiveness, of technological advances, of altering government regulations and of chan ging employee strengths, requires an advanced level of leadership more than ever before. His views further confront the importance of leadership in the business arena. Research info (Brand, et al. , 2000) has all the way shown that transformational leaders are more effective than transactional leaders regardless of how effectiveness has been defined. This can be further supported by research conducted by Ristow, et al. 1999), which concluded that there was a positive relationship between trusted styles of leadership and organizational effectiveness within the administration of vitamin E Africa. 2. 5. 1CHANGES AFFECTING LEADERSHIP Leadership is a dynamic process, influenced by changing requirements of the task, the group itself and the individual members. The implication o this is that there is no one best way of lead, and leaders need to be able to exercise a range of behaviour to fight their role effectively (G. A dough 2002). Cole said that the leaders principal role is t o influence the group towards the achievement of group goals.In an official group, such as a production police squad, goals are set mainly, if not exclusively, by senior management. In an informal (unofficial) group, composed of people who have got together as friends and workmates, group goals are much more likely to be paird on a consensus basis. Either way, the leaders task is to gain the groups commitment to these goals. Research studies conducted over the last thirty (30) years have suggested that there are at least four spot variables which are crucial in any analysis of leadership. These are 1. the attributes (knowledge, skills, attitude) of the leader 2. he nature of the task of goal 3. the nature of the group or team 4. the climate, or culture, of the organization. The most recent researches suggest that a hazard approach to leadership is likely to achieve the most productive poise between the need of the team, the requirements of the task, the nature of the organizati on climate and the pressures exerted by the location or context. According to (G. A Cole 2002) elaborated that a disaster approach is one where the leader adopts his or her behaviour to suit the unavoidably of the part.Clearly, such a view makes leadership somewhat problematic in practice. 2. 6LEADER ATTRIBUTES The earliest studies of leadership foc utilize on the personal qualities, or traits, of leaders. The intellection behind this approach was that the secret of leadership lies in some internal qualities of leadership possessed by selected member of society. Indeed, since most of the leading early exponents of management such as Henri Fayol and Frederick Taylor were themselves lively personalities as well as successful entrepreneurs, it is not surprising that personal qualities were the focus of attention.It is neat that personal qualities or charisma can play a part in the exercise of leadership. Nevertheless, the so-called trait theories of leadership produced such v ary accounts of the key characteristics that Handy (2976) mentions that by 1950 over hundred studies into leadership qualities could and find common features in about 5% of the cases studies. Although trait theories are largely discredited as an instrument of leadership theory, the qualities approach can have some useful applications in management training and development. . 7LEADERSHIP STYLE THEORIES Since the 1950s much of the study of leadership has centered on the behaviour, or style of the leader. If leadership is not much about personal attributes, the agate line goes, then perhaps it is about the way in which the leader exercise leadership? The style theorists as they have been called, were influenced by an earlier study by Lewin, Lippitt & White (1939) in which the effects of three different styles of leadership on the performance of groups in camp were studied.It was found that in harm of both goals achieved and members propitiation, a democratic style was preferent t o voluntary or Laissez-faire styles. The style theorists have taken dimensions such peremptory-democratic and employee centre-task-centred in order to test ideas about leadership style and leadership effectiveness. Leadership effectiveness, or success, refers to performance that leads to 1. the achievement of organizational goals 2. a high spirit level of commitments to those goals by the group 3. a high level of group member satisfaction.Reddin (1970), in a discussion on managerial effectiveness distinguishes three display cases of effectiveness. 1. Apparent effectiveness the extent to which the manager gives the appearance of existence effective by maintaining a high in amaze into the job, but where in reality, his or her achievements are disappointing. 2. Personal effectiveness The extent to which the manager achieves his or her own objectives, as opposed to those of the organization. 3. Leader effectiveness The extent to which the leader influences his or her followers t o achieve group objectives.The concepts of leadership that we are come to with in this are associated with leader effectives. That is to say, they are concerned with the results of leadership rather than the inputs they are concerned with the achievement of organizational rather than personal goals, and they are intimately concerned with the relationship between the leader ad his or her group. The way in which the leader approaches the task and people needs of the situation is commonly referred to as leadership style.There have been several well-known studies into styles of leadership and these are summarized brief below. 2. 7. 1THE MICHIGAN STUDIES In a series of studies carried out in early 1950, Rensis Likert and his colleagues studies that behaviour of supervisor of both high-and low- producing groups. The researchers observed that supervisors of high-producing groups tended to be employee-centered in their approach. That is they paid attention to relationships within the group , exercised less direct supervision, and encourage participation in decision-making.By comparison, supervisors of the low-producing groups tended to be more directive in their behaviour and appeared to be more concerned with the demands of the task than the needs of people in their groups. High-producing groupsLow producing groups Employee-centered approach confinement-centered approach 2. 7. 2THE OHIO STUDIES These were also conducted in the early 1950, but from a meagerly different perspective from the Michigan studies. The basis of the Ohio researches (Stogdill and Coons, 1957) was a leader deportment Description Questionnaire of some 150 items.The analysis suggested that unlike the Michigan conclusions, the two approaches represented separate dimensions. That is to say, people could be scored on esteem and on initiating structures. High Consideration Low LowHigh run across 2. 7. 2 Initiating structure The researches found that employee satisfaction was greatest under leader s who were rated high on status. However, the context had a bearing on solvents, since military groups tended to discount consideration in favour of initiating structure. 2. 7. 3MOGREGOR AND LEADERSHIPDouglas McGregor (1960), reflecting on leadership and motivation at work, took the available literature on organizations and examined contemporary managerial policy and practice. Leadership style may affect either positive or negative performance of employees. Leaders who practice democratic style do motivate their employees hence performance increases. When an employee is recognized as part and parcel of the organizational contributors then he/she tend to work hard towards the achievement of the set organizational goals. 2. EMPLOYEE production line SATISFACTION AND LEADERSHIP STYLE According to Mosadegh Rad and Yarmohammadian (2006), employee job satisfaction refer to the attitude of employees towards their jobs and the organization which employees them. The researchers pointed out that job satisfaction is influenced by many organizational contextual factors ranging from salaries, job autonomy, job security, workplace flexibility to relationship. In particular, leaders within organizations can adopt appropriate leadership styles to affect employee job satisfaction, commitment and productivity.Previous studies have examined the relationship between employee job satisfaction and leadership behaviour in various settings such as healthcare, military education and business organizations (Chenand Silversthorne, 2005). These studies generally indicate that employee job satisfaction in the public sector is just as important as it is in the private sector. Consistent with this, the present study intends to examine the relationship between leadership style and job satisfaction in the public sector.Leadership is a process of interaction between leaders and followers where the leader attempts to influence followers to achieve a common goal (Northhouse, 2010 Yuki, 2005). According to Chen and Chen (2008), previous studies on leadership have set different types of leadership styles which leaders adopt in managing organization (e. g. Davis 2003 Spears and Lawerence, 2003, Dorfman and Gupta, 2004 Murray, and Riordam 2007). Among the more prominent leadership styles are burns (1978) transactional and transformational leadership styles.Transformational leaders try followers intrinsic motivation and personal development. They seek to align followers aspirations and needs with desired organizational outcomes. In so doing, transformational leaders are able to foster followers commitment to the organizations and inspire them to exceed their expected performance (Silvanathan and Fekken, 2002, Jaokko and Ali 2006). With regard to days complex organizations and dynamic business environment, transformational leader are often seen as ideal agents of change who could lead followers in times of uncertainties and high to risk-taking.In contrast, transactional lea ders gain authenticity through the use of rewards, praise and promises that would satisfy followers ready needs (Northhouse 2010). They engage followers by offering rewards in exchange for the achievement of desired goals. 2. 9LEADERSHIP STYLES AND CONCEPTS Leadership styles range widely from a job-or task-centered orientation to a people or relationship-centered one, with many other combinations. A participative style has peculiar(prenominal) merit for consideration. A supervisor uses in trying to direct, activate or otherwise provide a motivational atmosphere for employees.It includes leadership traits skills attitudes and behaviour that employees perceive their supervisor to have and consistently use. According to John W. Newstorm (2001) study guide stated that leadership is one in which the leader sets goals, makes decisions, gives orders and demands obedience, autocratic style of leadership. A democratic or consultative style is one in which the leader presents problems, cons ults with applicable individuals or solicits ideas from those with expertise and interest before making decisions. It is exceedingly consistent with the need to employees and assumptions of Theory Y.True participation gives one or more employees the right to explore problems, gather information, make decisions, and implement them. The positive results is employees are mentally and emotionally to its success. Conditions that should be in place to assist in having the participative approach succeed include- 1. Adequate time to consult with employees. 2. The benefits of allowing participation must exceed the cost. 3. The issue must be sufficiently interesting to engage the workers mind and imaginations. 4. The problem must be within the supervisors area of job freedom. . Not all problems lead themselves to the participative approach and the supervisor and employees must understand this. Ex enormouss of formal programs that encourage employee participation include- a) Suggestion syst ems, which invite individual employees to submit recommendations for work improvements. b) Quality circles and lend quality programs which involve formal training and problem solving, group decision making, and statistical techniques to encourage employee to continuously search for improvements in their trading operations. ) Employee ownership plans, also called employee stock ownership plans (ESOPs) which allow employees to purchase shares of common stock in the play along, thereby becoming art owners. When participate leadership fails its often because- a) It is ill at ease(predicate) to change old habits. b) It is attempted in a insincere fashion. c) Supervisors fail to follow through on employee input and decisions. d) Performance pressures produce worry and insecurity. e) Supervisors fear it could result in a loss of personal power. 2. 10SELECTING AN take into account LEADERSHIP STYLELeadership styles should be selected with a keen sensitivity to individuals and circumsta nces involved. An autocratic, autocratic task centered style workers best in situations where the supervisor has lots of real power, the process requires strong control and rapport is good and in situations where just the opposite conditions prevail. A participative/democratic people centered style is best where the supervisors authority hasnt been clearly spelled out or acknowledged, where the process and procedure are somewhat flexible, and where rapport is only average.For good performance in production or service deliverance and contain style of leadership should be put in consideration as that employees are at easy and free from stress ca employ by bad leadership practices. When selecting an appropriate style one has to bear in mind that employees are people who have differences in both attitude likes and dislikes, so they should be all involved when coming 2. 11INTERVENING VARIABLES To understand how a leader can influence the performance of a group or individual employee o r organizational subunit, it is helpful to examine intervene variables that determine employee performance.The six intervening variables in the model are based on earlier research and theory on determinants of individual and group performance (Hackman, Brousseau & Weiss, 1976). Unlike most other situations theories, the intervening variables are defined primarily. 1. Task dedication The extent to which unit member strive to attain a high level of performance and show a high degree of personal commitment to unit t ask objectives. 2. Ability and role clarity The extent, to which unit members understand their individual job responsibilities, know what to do, and have the skills to do it. 3.Organization of the work The extent to which effective performance strategies are utilize to attain unit task objectives and the work is organized to ensure cost-efficient utilization of personnel, equipment, and facilities. 4. Cooperation and Mutual trust The extent to which group members tru st each other, share information and ideas, help each other and identify with the work unit. 5. Resource and Support The extent to which the group has the budgetary funds, tools, equipment, supplies, personnel and facilities essential to do the work, and necessary information or assistance from other units. . External coordination The extent to which activities of the work unit are synchronized with the interdependent activities in other parts of organization and other organizations (e. g. suppliers, clients, joint venture partners). The intervening variables interact with each other to determine the effectiveness of a group or organizational subunit. A seriously deficiency in one intervening variable may lower group effectiveness. The greater the congener importance of a particular intervening variables the more employee performance will be reduced by a deficiency in this variable.The copulation importance of the intervening variables depends on the type of work unit and other aspects of the situation. 2. 12SITUATIONAL INFLUENCE ON INTERVENING VARIABLES The situational can influence the intervening variables one by one of anything done by the leader. There are two situational variables that influence task commitments are the formal reward system and the motivating properties of the work itself. outgrowth commitment to perform the task effectively will be greater if the organization has a reward system that provides attractive rewards contingent on performance.Motivation is likely to be high for subordinates if work requires varied skills, is interesting and challenging, and provides automatic feedback about performance. Role clarity is affected by task structure, prior members experience, and external dependencies. Conditions that increase role ambiguity are as follows 1. the task has multiple performance criteria that are somewhat at variance(p) with each other and priorities are unclear. 2. the task requires continuous coordination and mutual enrol lment among members. 3. he nature of the work or technological is changing requiring new skills and procedures. 4. a crisis or emergency creates confusion and 5. work unit operations are frequently affected by changes in policies, plans or priorities pertinacious by higher management or clients. 2. 13DETERMINANTS OF TEAM PERFORMANCE 1. Commitment to shared objectives Employee performance will be higher when they are highly motivated to attain shared objectives (Mackenzie and Ahearne 1997) Task commitment is higher when the team considers the objectives worthwhile and the strategy for attaining them appropriate.Leadership behaviours that are especially relevant for increasing members commitment to shared objectives include articulating an appealing vision of what can be utter(a) by the team, describing the task in a way that links it to member values and ideals, explaining why a project or task is important, involving members in planning strategies for attaining the objectives and empowering members to find creative solution to problem. 2. Member skills and Role clarityTeam performance will be higher when members have the knowledge and skills necessary to do the work and they understand what to do, how to do it, and when it must be done. In a newly formed team, or when the team has a new type of task to perform, leader can clearly explain member responsibilities and relevant procures for performing specific types f activities (Marks, Zaccaro & Mathieu, 2000). 3. Internal Organization and Coordination The performance of a team depends not only on the motivation and skills of members, but also on how members are organized to use their skills.The design of work roles and the denomination of people to them determine how efficiently the team has talented people but they are given tasks for which their skills are irrelevant, or if the team uses a performance strategy that is not consistent with members skills. 4. External Coordination The performance of a team als o depends upon adjusting their activities to be consistent with the activities of interdependent units inside or impertinent the organization (include suppliers), and the need of clients who must be accommodated (Ancona 1990).Many specific types of leadership behaviours are relevant for improving external coordination. These include maintaining a network of contacts who can provide relevant information, monitoring external regular(a)ts to identify threat and opportunities for the team, coming upon with clients o users to lean more about their needs, consulting with other units of the organization butt on plans and decisions that affect them, and facilitating shared mental models that accurately describe the relationship between the team and its environment. 5. Resources and Political SupportTeam or group performance also depends on get information, resources and political support needed to do the work (Druskat and Wheeler, 2003) applicable resources such as budgetary funds, to ols and equipment, supplies and materials and facilities. A production team cannot maintain a high level of output without a dependable contribute of materials. Leadership behaviours that are relevant for obtaining necessary resources from outside include planning the resources required for a special project or activity. 6. Mutual trust and CooperationEven a talented, well-organized team may fail in carrying out its mission unless there is a high level of cooperation and mutual trust among the members. Cooperation is more likely when members identify with the team, value their membership in it and are per se motivated to support it. 7. incorporated Efficacy and potency. Member/employee commitment depends in part on the shared belief of members that the team is capable of successfully carrying out it mission and achieving specific task objectives (Bandura 2000, Gallagher and Ensley 2002).This shared belief is called collective efficacy or potency. A highly confident team is also likely to have a more positive mood (Mannand Hirst 2002) Collective efficacy is likely to be higher for a team with strong member skills, a high level of mutual trust and cooperation, ample resources and a relevant performance strategy. Prior success can increase collective efficacy, which in turn can enhance a team of subsequent performance. 2. 14ADVANTAGES OF USING DEMOCRATIC LEADERSHP STYLEThe participant can result in high motivation of group members, the knowledge and experience of group members can be used in decision making. Employees may feel more committed to goals and less resistant to managerial actions. Individual abilities can be developed through participation they may be better certified as a result of two way communication that is from the employee to the leader and also from the leader to the employee. 2. 15DISADVANTAGES OF USING DEMOCRATIC LEADERSHIP STYLEAs discussed earlier this style of leadership can also have a few drawbacks to the leader and also to the orga nizations set goals. Some of them are individuals may dominate the participation or make disruptive contribution, this approach can be very time consuming for the leader because of the use of two-way communication via media can result in actions that are not the most effective. meshing may be resolved by making the least unsavoury decision not the most effective situation can develop where responsibilities are not clear cut.Participation may be viewed as a sign of inefficiency on part of a leader subordinates may view leaders as incompetent to handle the job responsibilities. Employee performance will mostly depend on the leadership style used by the management if it is favourable to be adapted then high productivity shall be experienced. So far the production to be maintained in employee some methods should be practiced that is manager may adopt to use a combination of two leadership style so as to balance both the employee and organization goals. 2. 16OTHER MANAGEMENT TECHNIQUE S separate companies tend to use other styles of gathering information from their employees, such as management by walk around (MBWA) is a classic technique used by manages who are proactive listeners managers using this styles gather as much information as possible so that a challenging situation does not turn into a bigger problem. Listening carefully to employees suggestions and concerns with help evade potential crises, management by travel around benefits managers by providing unfiltered, real-time information about processes and policies that is often left out of formal communication channels.By walking around, management get an idea of the level of morale in the organization and offer help if there is trouble. A potential concern of MBWA is the manager will second-guess employees decisions. The manager must maintain his or her role as coach and counselor, not director. By leading decision-making responsibilities with the employee, manager can be assured of the fastest possi ble response time. Competence (or competency) to the ability of a individual to perform a job properly.A competency is a set of defined behaviours that provide a structured guide change the identification, evaluation and development of the behaviours in individual employees. Some scholars see competence as a combination of knowledge, skills and behaviour used to improve performance or as state or quality of being adequately or well qualified, having the ability to perform a specific role. For casing management competency might include systems thinking and emotional intelligence and skills in influence and negotiation. 2. 7BENEFITS OF GOOD LEADERSHIP STYLE Managing employee co-system performance facilitates the effective delivery of strategic and operational goals. There is a clear and immediate correlation between using performance management programs or computer software and improved business and organizational results. It benefits the organization direct financial gain in sales gain, reduce costs in the organizational also decreases the time it takes to create strategic or operational changes by communication the changes through a new set of goal. (Business Journal 2002).Good leadership style brings about motivated workforce which optimizes incentive plans to specific goals for over achievement, not just business as usual, improves employee engagement because everyone understands how they are directly add to the organizations high level goals. It also improved management control, flexible amenable to management needs displays data relationships, provides well documented and communicated process reinforcement organization development, performance can be thought of as veritable Results Vs Desired Results.Any discrepancy, where Actual is less than Desired, could constitute the performance improvement zone. (Business Journal 4th var. 2004) Performance Management and improvement can be thought of as a cycle. 1. Performance planning where goals and objec tives are established. 2. Performance coaching where managers intervenes to give feedback and adjust performance. 3. Performance appraisal where individual performance is formally documented and feedback delivered. A performance problem is any dislocation between Desired Results and actual Results.Performance improvement is any effort target at closing the gap between Actual Results and Desired Results. 2. 18CONCLUSION In summary, an overview of organizational performance was presented highlighting the need for organizations to deliver results in the competitive business environment of today. As employees play a pivotal role in organizational performance, individual performance has become a topic issue, so much so that organizations go to great lengths to develop, manage and appraise it. In light of this, performance management and individual performance was discussed.Finally, the relationship between performance and leadership was discussed, demonstrating the relationship betwee n them. It is clear that there is definitely a need to identify and implement leadership that enables East Africa Organization to become globally competitive. It has generally been acknowledged that organizational performance requires effective leadership and performance will suffer in direct proportion to the neglect of this. A broad overview of performance has been presented with some reference to its relationship with leadership. It is now important to discuss leadership in detail. CHAPTER ternion METHODOLOGY . 0OVERVIEW This chapter covers the research design, population of the study, sample design/procedure, data collection instruments, data collection procedure and data analysis techniques. 3. 1STUDY AREA The research design is a case study which involves one single company where the research is to be undertaken. For this case the selected company is Mombasa Municipal Council of Mombasa. 3. 2POPULATION OF THE STUDY The targeted population of the research is the employees of M ombasa Municipal Council. Mombasa MunicipalNumber of employees parting Council targeted Top Management612% philia level employee1836% begin level employee2652% Total50100% 3. 3SAMPLE DESIGN/PROCEDURE The sampling method employed in undertaking this research was randomly sampling where the population i. e employees were subdivided into three levels top management, mid(prenominal)dle and lower level of employees. 3. 4DATA COLLECTION INSTRUMENTS In getting the relevant data for the research study, the following instruments were used a) Interview This involves interaction with the responder. Direct interview of the top management and some few middle level employees was undertaken in an effort to get more necessary data relevant for this research.This method is of good advantage in the way that it is easier and clear to get feedback from the questions asked, more elaboration is given by the answering. b) Questionnaire This is a set of questions properly designed in advance related to the subject of the interview. The questionnaire comprising of precise, defraud and logically segmental and concise questions calculated to retrieve the appropriate data that enabled the researcher make data based conclusions and recommendations, in reflection of the objective and fulfillment of the general purpose of the study. This method is of a good advantage in the way that- . 5DATA COLLECTION PROCEDURE The event was carefully plan in a way that there was time for interview and for submitting of the questionnaires to the think respondents. The questionnaires were then collected after three days after having conducted the interviews. 3. 6DATA abbreviation TECHNIQUES Charts i. e pie charts, tables, bar graphs, bar charts were used to analyze the collected data. These illustrations were used to represent and interpret the collected data to meaningful and useful information. more than clarification was carried in chapter four of the study. CHAPTER FOUR 4. DATA PRESENTATION AND depth psychology This chapter covers various findings collected from the field of study by the use of questionnaires and interview. In the analysis, the study simplifies the raw data collected in relation to the objectives of the study. The data was presented in the use of tables, charts and graphs to interpret the findings. 4. 1FINDINGS The targeted population were issued with questionnaires in various departments and collected as shown below in the table. mesa 4. 1. 1 showing respondent rate Employee Questionnaires Questionnaires ollected Percentage distributed Top managers 6 6 15% spunk level 18 12 30% commence level 26 22 55% TOTAL 40 40 100% The response shows that the company uses more than one leadership style. Some of the manager responded well. Figure 4. 1. 1 showing the employee response trace pic 4. 2LEADERSHIP STYLES USED IN THE ecesis The leadership style used based on the various department. The council used a combination of compulsive and democratic styl e of leadership. Table 4. 2. 1 showing respondent on leadership styles Leadership Style Respondents Percentage Autocratic 1 2. % Participation 5 12. 5% Combination of Autocratic & Participation 20 50% Democratic Combination of Autocratic and Democratic 6 15% 8 20% TOTAL 40 100% Figure 4. 2. 1 showing leadership style in the organization. KEY pic In fig. 4. 2. 1, 50% of the respondent pointed out the leadership style used by the manager was a combination of Autocratic and Participation, 20% pointed Autocratic and democratic, 15% pointed participation, 12. 5% pointed Democratic and 2. 5% pointed autocratic leadership style. 4. 3EMPLOYEE PERFORMANCE DETERMINANTS The table below shows response on the determinants of employee performance.Table 4. 3. 1 showing determinant of employee performance Employee levels Respondent Percentage Top managers 4 10% Middle level 16 40% Lower level 20 50% TOTAL 40 100% Figure 4. 3. 1 showing the level of employees who are motivated. KEY p ic From the Pie Chart above the percentages of the respondent was 50% of the lower level employee, 40% from the middle level and 10% from the top management. This shows that most of the employees performed better when motivated financial than the non finance which was from the top senior managers. 4. 4DEMOCRATIC LEADERSHIP STYLE AND GOOD EMPLOYEE PERFORMANCE The table below shows employee response on democratic leadership style and employee performance.Table 4. 4. 1 showing democratic leadership style and good employee performance Good Employee levels Respondent Percentage harbour 18 45% strongly agree 22 52. 5% disaccord 1 2. % Strongly disagree Nil 0% TOTAL 40 100% Figure 4. 4. 1 showing democratic leadership style and good employee performance KEY pic From the figures the biggest percentage 52. 2% strongly greeted that democratic leadership style brings about good employee performance in the organization, 45% also agreed and the smallest percentage of 2. % disagreed. 4. 5ADVANTAGES OF DEMOCRATIC LEADERSHIP STYLE AND EMPLOYEE PERFORMANCE Employees are more productive when motivated by their leaders hence democratic style is best. It reduces employees conflict and stress caused by dictatorship style of leadership. It builds employee confidence, morale hence perform the best. 4. 6DEMOCRATIC LEADERSHIP STYLE REDUCES EMPLOYEE CONFLICT AT THE WORK PLACE The table below shows the respondent to the democratic leadership style & conflict reduction at the work place. Democratic leadership style reduces Respondent Percentage employee conflict Strongly agree 28 70% Agree 10 25% Disagree 1 2. % Strongly disagree 1 2. 5% TOTAL 40 100% Table 4. 6. 1 showing respondent to the democratic leadership style. 70% of the respondent pointed out that they strongly agreed on the fact that democratic leadership style reduces employee conflict hence increase productivity. 25% agreed and 2. 5% were not to agreeing to that. CHAPTER FIVE DISCUSSION, CONCLUSION AND RECO MMENDATION . 0DISCUSSIONS This chapter covers the conclusion and recommendations. It also fills the gap in between. From the study it was found that the company used more than one leadership style so that it may fit with their employees. The top managers used such different style to be compatible to their employee as a means of motivation so that they perform better. 5. 1CONCLUSIONS It was conducted that for employees to perform better some rules must be applied that is, good workings tools, conducive environment, good employee relations, motivation, training of employee on relevant fields.Most of the respondent from the company pointed out that good leadership style may bring about good employee performance. away from that age also matters in the way that middle employee tend to be more active hence perform better than those in mid 50s and above. 5. 2RECOMMENDATIONS In view of the findings the researcher recommendations were, that the company has to put in place good understandin g of employees, on matters affecting them and their work. It was suggested that the management should put in place a good communication channel though which employee shall follow when in problem.The management should encourage employees to work as a team, share tasks to avoid overloading employees, share profit of the company, motivate the employees to even work extra harder in doing their jobs hence increase productivity. It is also very important to consider employees in formulation of policies and procedures of the organization consult the employee so that they express their views on matters affecting them. It was recommended that employees to be given good working tools, share tasks, ideas and also given an opportunity to acting positions of managers so that they have experience as well as motivating them to perform better.Employees will be more committed if the roles and tasks are well defined to reduce role conflict as who is to do what and where or when at the work place. Doi ng so shall build the employees morale to work hard and gives them confidence to work towards the set goals an objectives of the organization. 5. 3GAPS TO BE FILLED There was a gap to be filled by other researchers. It was not clear whether the leadership style affected the employees performance or therere were other factors affecting them to perform poorly. REFERENCES . Armstrong and Baron (1998) Performance Management The New Realities 2. Brewster cobbler Holland and Warnich, 2003. Contemporary issues in Human Resource 3. Bartlett and Ghoshal (1995) Harvard Bus reexamine 4. Norton (1999) The balanced scorecard Participants Workbook 5. Hellriegel et al (2000) Management flash South Africa Edition 6. Hallaway, Francis Hinton (1999) The International Journal of Public Sector Management 7. Amos et al 2004 Human Resource Management 2nd Edition 8. Cherrington 1994, Baird (1986)Organization deportment 9. Foor and Hook (1999) Introduction to Human Resource Management 10. Cummings an d Schwab (1973) Performance in Organizations determinants and appraisal 11. Bass 1997 Mullins 1999 Leadership and Performance beyond expectations 12. Brand, et al, (2000) Organizational development and transformation 13. Leadership in Organization by Gary Yuki 14. supervisory Management by P. W. Betts (Seventh Edition) 15. Study Guide Supervision 8th edition by John W. Newstorm APPENDICES APPENDIX I WORK PLAN OF THE lying-in Activity Schedule Proposal writing October 2011 Proposal submission October 2011 entropy collection October 2011 Data Analysis & Presentation November 2011 Typing setting, editing and printing November 2011 Submission December 2011 APPENDICES APPENDIX II FINANCIAL BUDGET level Quantity Price (Ksh. ) Amount (Ksh. Stationary Fullscapes 1 ream 500/= 500. 00 depression papers 1 ream 500/= 500. 00 Typesetting & Printing 50 pages 20/= 1,000. 00 reproduce 50 pages 3/= 150. 00 Binding 2 copies 50/= x2 100. 0 enrapture - - 800. 00 Tools Pen 2 pieces 20/= x 2 40. 00 Pencil 1 piece 10/= 10. 00 Ruler 1 piece 20/= 20. 00 Other expenses - 200. 0 Total 3,320. 00 DEMOCRATIC+IMPROVED+FAVOURABLE LEADERSHIPPERFORMANCEEMPLOYEE STYLEEVALUATION Low structure/ High Structure/ High consideration High consideration Low structure/ High Structure/ Low consideration Low consideration Lower level employee Line manager Middle staff Autocratic & Participation Autocratic & Democratic Participation Democratic Autocratic Lower level employee Middle level Top level Strongly agree Agree Disagree