Situational Leadership Analysis Essay -- Leadership

Hersey and Blanchard’s Situational Leadership Theory (SLT) attests that a leader’s viability is needy upon the preparation, or capacity and eagerness, of the leader’s devotees to finish an undertaking. This authority style is an amalgamation of undertaking focused and relationship-arranged qualities that are utilized relying on the circumstance and the adherents in question. As indicated by the SLT, as devotees increment in availability the leader’s style is to adjust in like manner (Kinicki and Kreitner, 2009). The table beneath (Babou, 2008) sums up the initiative practices that the SLT presumes are suitable to the different phases of devotee preparation. Every quadrant of the Leadership Behaviors diagram compares to a similar quadrant in the Follower Readiness outline. Initiative Behaviors Style 1 (S1 or Directing): High undertaking/low relationship This pioneer utilizes better than expected measures of assignment conduct and beneath normal measures of relationship conduct. Style 2 (S2 or Coaching): High undertaking/high relationship This pioneer utilizes more prominent than-normal measures of both assignment and relationship practices. Style 3 (S3 or Supporting): High relationship/low errand This pioneer displays more prominent than-normal measures of relationship conduct what's more, beneath normal measures of undertaking conduct. Style 4 (S4 or Delegating): Low relationship/low errand This pioneer utilizes underneath normal measures of both relationship and undertaking practices. Adherent Readiness For instance, under this hypothesis the pioneer would utilize High Directive/High Support authority practices to the Disillusioned Learner. In a perfect world, the pioneer enables the devotees as they to advance through the phases to accomplish the Self-Reliant Achiever/Delegating level. While I don't really ... ...ul pioneer. Without high capability in these territories, the pioneer is probably not going to discover accomplishment to any noteworthy degree paying little heed to how well the person acts in different zones. In general I am satisfied with where I presently am in these crucial regions, especially in those regions that characterize me as an individual and would somehow or another be incredibly hard to change. The regions of shortcoming uncover modifications that I can make in my style and how I apparently present myself, yet I don't accept there are any holes that can't be connected as I proceed with my mission to improve as a pioneer. Works Cited Babou. (2008, March 26). Varieties in situational initiative Web. 28 March 2015 http://leadershipchamps.wordpress.com/2008/03/26/varieties in-situational-initiative/ Kinicki, An., and Kreitner, R. (2009). Hierarchical conduct (fourth ed.). New York, NY: McGraw-Hill/Irwin.

Critique On Keynes :: essays research papers

History of Economic Thought: The author starts with a presentation in which it is expressed that the ways of thinking were opposing in their speculations. What ought to have been addressed is how and from what point of view: Neo-old style or Keynesian? The central matters of her paper are the accompanying: "Neo-classicists, for example, Friedman, hold that the U.S. neglected to give liquidity to its banks," which caused the extraordinary misery; in the event that the legislature doesn't mediate, the economy would then head towards full work. Keynesian business analysts, then again, accept that the legislature ought to mediate effectively through methods for financial and money related approach to advance full work and monetary development (with value strength). Also, they accept that the reason for the Great Depression was because of the administration not mediating as they ought to have. The author accept that the Great Depression could have been settled by both the Keynesian technique, or the Neo-traditional, in any case, doesn't express the reason for it or strategy. There might be no off-base or right answer, in any case, some purpose behind it ought to have been drawn; this methodology would explain what the Keynesian or Neo-old style cures are. The essayist doesn't build up the central matters all through the paper. She continues repeating the thoughts by saying that Friedman accepts that the economy is "self-modifying and regulating" and that "Keynesian financial analysts credit great money related and monetary strategy with getting an economy out of downturns and times of low development. I didn't get a feeling of what side she was pushing, it appears that she may have been impartial. Besides, she didn't express the two schools of thought’s investigation of th macroeconomy, which drove them to imagine that their technique was right (as indicated by them). Concerning the monetarists (particularly Friedman) she didn't make reference to how they supported consistent and predictable development of cash stock. In her decision, she expressed that "human conduct is unpredictable and frequently difficult to anticipate. Keynesian ans Neo-traditional business analysts are regularly attempting to comprehend the nonsensical".

extraordinary and everyday beauty

extraordinary and everyday beauty I got up a little early this morning thanks to the time change and decided to walk to Trader Joes to do my grocery shopping. Theres two nearby, but the slightly closer one, at about 25 minutes walk, is the worlds smallest Trader Joes across the river in Boston (which I would say is honestly pretty reasonably-sized for a grocery store). As I left EC and walked across the Harvard bridge at 9 am, the sun was already strong and I had to unzip my fall coat. The trees have finally changed for real, and I found myself stopping to take pictures so much that by the time I had a half-dozen, I felt like I just had to blog them (in addition to already sending them to half the people I know). If you want the real experience, imagine as you scroll through these that theres a spring in your step, youre about to buy lots of delicious food to cook with, Lorde is playing in your ears, and a light breeze urges you onwards. It was such a perfect start to my day; in this kind of weather, MIT, Cambridge, and Boston feel like not just home, but a home encouraging me to be the best version of myself I can be. Theres the Green building! I LOVE that cute Boston architectural style. Not strictly fall or the city, but I was very charmed by this incredible Trader Joes art. Look down the road allllll the way down the road see that red building? Its Maseeh! If you click through to load this panorama in full, youll be able to see lots and lots of beautiful MIT :D The Hyatt, MacGregor, the boathouse, Baker, McCormick, Maseeh, the Dome, Walker, the Green building, the Media Lab I love this place so much.

Motives And Beliefs Of Martin Luther King Jr. - Free Essay Example

Sample details Pages: 2 Words: 561 Downloads: 9 Date added: 2019/05/19 Category History Essay Level High school Tags: Letter From Birmingham Jail Essay Martin Luther King Essay Did you like this example? Martin Luther King Jr., the leader of the Civil Rights Movement received a newspaper containing A Call for Unity, written by a white clergymen and criticized his non-violent civil rights movement in Alabama. This (inspired?) King to write an open letter in response to the clergyman, and this eventually became a written masterpiece by King. In his letter, King utilizes rhetorical devices, in order to demonstrate to the audience his motives and beliefs and to persuade them to believe in him and the Civil Rights Movement. MLK utilizes comparison in order to persuade the audience on why they should believe in him and the Civil Rights Movement in Alabama. He states some facts such as he is the president of the Southern Christian Leadership Conference, and he was invited to Alabama, therefore the accusation of him being an outsider coming in does not stand. King is also a reverend, and compares himself to the Apostle Paul, because he finds similarity in Paul and himself, who left his village of Tarsus and carried the gospel of Jesus Christ to far corners (lines 18-21), just like how King left his home in Atlanta to fight against injustice in Alabama. MLK uses ethical appeals when he uses Hitlerrs notorious treatment to Jews as an example, and reminds the audience how that was considered legal back then. This shows that King can see the consequences of racism in history does not end well, and he intends to change the result before it is too late. Don’t waste time! Our writers will create an original "Motives And Beliefs Of Martin Luther King Jr." essay for you Create order Martin Luther King Jr. appeals to the critics and readerrs logic, making them think deeply by bringing up an opposing statement by the critics, and then uses reasoning to support his ideas in order to invalidate the white clergymanrs argument. For example, in lines 69-76, King answers the critics questioning of using marches and direct actions to protest against segregation. He states that nonviolent direct action seeks to create such a crisis and foster such a tension that a community which has constantly refused to negotiate is forced to confront the issue. It seeks so to dramatize the issue that it can no longer be ignored (71-73). His actions is explained in such detail and in a way that is easy to understand from Kingrs point of view that it would no longer make sense to agree with the critics. King uses logical reasoning is when he references the Holocaust and Hitlerrs mistreatment of Jews (line 181 to 185) (mentioned above or here or both?) King connects the corrupt definitions of legal and illegal in Germany during the Holocaust are similar to the definitions about segregation during the Civil Rights Movement. This appeals to the readers because it makes them to think deeply about the terrible Holocaust times and the treatment of Jews, and realize that the Jews and the African-Americans are being treated in a similar sense. After clarifying statements made by the white clergyman, King appeals to the audiencers sense of justice to connect them on an emotional level. For example, in line 50, King states how the African-Americans are the victims of a broken promise (line 50) because the merchants did not stick to their promise on removing segregating signs around town. This appeals to the audiences pathos because everyone recognizes the despair feeling of a broken promise so it allows the critics and readers to connect with the African-Americans emotionally.

Analytical and Comparison of ABC Mining and jPhones - Free Essay Example

Sample details Pages: 11 Words: 3290 Downloads: 8 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? Before progressing on to the analysis of the companies given, a general introduction on asset allocation needs to be satisfied before progressing on this line. Let us see what asset allocation is why it is important for us during this exercise. Before giving any advice on asset allocation certain things needs to be kept in mind or followed so that the exercise will yield good results for the advisor and client. This not only ensure that all client requirements are met but also safeguards his interest against any unforeseen financial difficulty. Fundamental Analysis This involves checking basic financial information about a company going back a few years to check the major financial trends of companies so that a decision can be arrived at. Various investment gurus stand by this method of analysis as they firmly believe that this method of analysis yields results on the long run. The basic information that is sought out to accomplish this are the balance sheet and cash flow statements. Don’t waste time! Our writers will create an original "Analytical and Comparison of ABC Mining and jPhones" essay for you Create order As we are going to adopt a fundamental analysis approach as a first step balance sheet and cash flow statement of ABC Mining corporation and jPhone Ltd are listed below. Following this various financial analysis of various components will be calculated and analysed. The data then gathered would help any financial advisor the best decision that can be taken. ABC Mining corporation balance sheet Profitability Ratio: This ratio measures the profit generating capacity of a company. More frequently it can relate assets utilised, equity present to the sales that has been generated by the company. It gives an overview on the companys ability to generate wealth to its investors, owners, etc. It can be used for comparison against various timelines for the same companies and also across the industry. Return on Capital Employed Commonly denoted as ROCE, this ratio compares the net profit against the capital used to generate that profit. The formula for calculating the ratio is as follows: Return on Capital Employed = Net Profit x 100% Capital employed (including long term loans) Return on Capital Employed = 6195 x 100% = 15.56% Year 2002 39820 Return on Capital Employed = 5214 x 100% = 15.43% Year 2001 33789 Comments: For both the years, the values are quite similar and the change is very marginal. One things that needs to be kept in mind is that the low values can be affected quite quickly during economic downturns. Care needs to be entertained when coming across companies with such low values as investment in such companies will yield very poor returns. Another such ration used to calculate the profitability of an organisation is return on owners equity the formula for calculating the same is below. Return on Owners Equity = Net Profit before Tax x 100% Owners Equity Return on Owners Equity = 8725 x 100% = 23.28% Year 2002 37320 Return on Owners Equity = 5214 x 100% = 22.28% Year 2001 33789 Asset Turnover or Asset Utilisation Ratio As business use assets to generate income, a look at how assets are utilised actually give a pretty good idea of how efficient a company is in generating value using its assets. A better asset turnover actually proclaims an efficient business. Asset Turnover = Sales Net Assets Asset Turnover = 35000 = 0.94 Year 2002 37320 Asset Turnover = 29634 = 0.88 Year 2001 33789 A point to note is the trend in this ratio. An improving ratio denotes improving efficiency. Companies that are becoming more efficient as they mature will exhibit this trend. When compared to the year 2001 to 2002 the ratio has shown marginal improvement. This is a good sign that operational efficiency is improving within the organisation. Net Profit Margin This is the most utilised margin calculation that gives an overview of a firms financial position. If this ratio is poor investors do not usually go beyond this. Gross Profit Margin Gross Profit Margin = Gross Profit x 100% Sales Gross Profit Margin = 9100 x 100% = 26.00% Year 2002 35000 Gross Profit Margin = 7705 x 100% = 26.00% Year 2001 29634 Net Profit Ratio Net Profit Ratio = Net profit x 100% Total Sales Net Profit Ratio = 6195 x 100% = 17.70% Year 2002 35000 Net Profit Ratio = 5214 x 100% = 17.59% Year 2001 29635 Liquidity Ratio Liquid cash is the blood that drives the organisations to function. As such this ratio gives a clear idea of how well an organisation is positioned to handle day to day financial requirements. Liquidity is like a grease applied to a machinery, if applied to an optimal level it maintains an optimal working condition of the machinery. The ratio should be higher than one to denote a healthy status. In case of low values the organisations ability to service its short term debt and operating expenses are under questions. Current Ratio Current Ratio = Current Assets Current Liabilities Current Ratio = 71800 = 2.25 Year 2002 31980 Current Ratio = 53000 = 2.76 Year 2001 19211 Management Efficiency Ratio Stock turnover ratio Stock Turnover = Cost of Sales Stock Stock Turnover = 25900 = 4.31 Year 2002 6000 Stock Turnover = 21930 = 3.66 Year 2001 6000 Common-Size Analysis (CSA) One of the disadvantages of looking at balance sheets is that due to varied methods that are used by a company or companies in different industry one will at a superficial level tend to bias us towards a company that has large values. To overcome such disadvantages a common approach to both the companies needs to be done. One such method is CSA. This compares the same components against a set of data and gives a ratio for comparison of various companies. The formula for CSA is as follows Common Size Ratio = Item of interest Reference Item If the formula above is to be modified for inventories then it can be stated as follows Common Size Ratio for Inventory = Inventory Total Assets Limitations: As companies use different accounting principle the values can be misleading if used carelessly. Care must be taken to ensure that such practises are identified and noted before embarking on any such ratio analysis. The same principle applies accounting calendars practises that may change for various countries of the world. Trend Analysis This form of analysis tries to predict future movement of various components that are being analysed. Though trends analysis gives a clear cut information on the trends, questions remains regarding its ability to predict future trends. Also it does not address operational strategic decisions that are required to be taken, thus even a correct trend analysis can fail simply due to the fact that it is not backed up by operational decisions. Individual Components ABC Mining jPhone Company Change in Value Change in Value % of Change % of Change 2002 2001 2002 2001 ABC Mining j phone ABC Mining jPhone Net sales 35000 29634 412500 350000 5366 62500 18.11% 17.86% Dividents issued 3450 2900 58500 31000 550 27500 18.97% 88.71% retained earnings 5059 2314 116794 79719 2745 37075 118.63% 46.51% fixed asset 49300 38000 169000 180000 11300 -11000 29.74% -6.11% equity finance 54559 43314 531794 399719 11245 132075 25.96% 33.04% Comparative Statement Analysis Funds Flow Analysis Fund flow analysis involves categorising stratifying the changes in various financial components between two time periods for an organisation. It enables decision makes to have knowledge and analysis the organisations use of funds for various activities. The management also uses the results to decide on how much and when to give dividends. As the statement gives a detailed analysis of funds and its utilisation it serves to be an invaluable tool for fund allocation planning and budgeting. Cash Flow Analysis This analysis is on the similar lines to fund flow analysis excepting the fact that it considers only cash and records the inflow/outflow of funds to various components within an organisation. Some countries have a legislation that make this analysis mandatory. For eg, in India all listed companies are required to prepare and make this available for all stakeholders on a periodic basis. Used in conjunction with fund flow this can give a very clear view on the financial aspects, financial principles that are in vogue within an organisation. Comparison between Fund Flow Analysis and Cash Flow Analysis Fund Flow Analysis Cash Flow Analysis Mainly concerns itself with working capital It is mainly concerned with cash and ignores other aspects of workign capital Though it tracks funds it does not specifically record opening and closing positions Records specific closing and opening positions for a time period Records specific sources of funds and where and how it is utilised within an organisation Records only inflows and outflows Does not have a standard format that needs to be incorporated and can show considerable differences between companies or within departments Presentation should be in a standardised format as prescribed by statutory bodies Balanced Score Analysis This was a concept that was put forth by Kaplan and Norton. The balanced score card concept was a new idea where managers were made to focus on both short-term trends and solutions and how they can be aligned to meet the companys long term strategies. The concept depended upon identifying four parameters which can be measured and targets set and points allotted according to performance. It gave an overview of the performance and did not include any other details which was heavily criticised by some researchers. However, it is an important tool that can be used. Balanced score card after its first publication has undergone around three modifications and at present followed widely in English-speaking countries and Scandinavian companies. The designing process involves choosing components that represent the long term goals of an organisation along with a target set against each value. Once the actual performance is noted down, the balanced score card will give an overall picture on how a particular department or a particular manager has performed against his metrics. Posted below is an example of BSC for Financial analysis, as we are mainly concerned about financial aspects, we will concentrate on four important aspects that are the pillar of financial stability for any organisation. Balanced Score Card ABC Mining Corporation 2002 Component Goal Weightage Performance Target Profitablity Ratio ROCE 2 15.56% 20% ROOE 2 23.28% 25% Asset Turnover Ratio 2 0.94 1 Gross Profit Margin 2 26% 30% Net Profit Ratio 2 17.70% 20% Liquidity Ratio Current Ratio 10 2.25 2.8 Management Efficiency Ratio Stock Turnover 10 4.31 4.5 jPhones Ltd 2002 Component Goal Weightage Performance Target Profitablity Ratio ROCE 2 14.66% 20% ROOE 2 18.67% 25% Asset Turnover Ratio 2 2.15 1 Gross Profit Margin 2 35% 30% Net Profit Ratio 2 23.16% 20% Liquidity Ratio Current Ratio 10 2.19 2.8 Management Efficiency Ratio Stock Turnover 10 0.43 4.5 Financial statement of company j Phones Profitability Ratio Return on Capital Employed The formula for calculating the ratio is as follows: Return on Net Asset = Profit before interest and tax x 100% Capital employed (including long term loans) Return on Net Asset = 144375 x 100% = 75.39% Year 2002 191500 Return on Net Asset = 122719 x 100% = 42.46% Year 2001 289000 Return on Capital Employed Return on Capital Employed = Net Profit x 100% Capital employed (including long term loans) Return on Capital Employed = 95575 x 100% = 14.66% Year 2002 651500 Return on Capital Employed = 110719 x 100% = 25.2% Year 2001 439000 Return on Owners Equity Return on Owners Equity = Net Profit before Tax x 100% Owners Equity Return on Owners Equity = 95575 x 100% = 18.67% Year 2002 511794 Return on Owners Equity = 110719 x 100% = 36.94% Year 2001 299719 As the name goes this looks at asset utilisation i.e., how an organisation is utilising its assets to generate income. The formula for calculating the same is as below Asset Turnover = Sales Net Assets Asset Turnover = 412500 = 2.15 Year 2002 191500 Asset Turnover = 350000 = 1.21 Year 2001 289000 The value is not represented in percentage but in a ratio. A rising ratio usually denotes improving performance. Net Profit Margin This is the most utilised margin calculation that gives an overview of a firms financial position. If this ratio is poor investors do not usually go beyond this. Profit Margin = Profit before interest and tax x 100% Sales Profit Margin = 95575 x 100% = 23.17% Year 2002 412500 Profit Margin = 110719 x 100% = 31.63% Year 2001 350269 Gross Profit Margin Gross Profit Margin = Gross Profit x 100% Sales Profit Margin = 144375 x 100% = 35% Year 2002 412500 Profit Margin = 122719 x 100% = 35% Year 2001 350269 Comments: The company has maintained a good profit margin for both the years compared and has shown resilience in maintaining the same. But it would do good to improve the same. Net Profit Ratio Net Profit Ratio = Net profit x 100% Total Sales Net Profit Ratio = 95575 x 100% = 23.16% Year 2002 412500 Net Profit Ratio = 110719 x 100% = 31.57% Year 2001 350625 The company has shown a drop of 8.34% in its NPR. This is an alarming trend to note. Unless the company takes steps to arrest this growth it may result in value erosion for investors. Liquidity Ratio The ratio largely looks at a firms ability to repay its liabilities. The thumb rule is that the higher the ratio the better. Current Ratio Current Ratio = Current Assets Current Liabilities Current Ratio = 895000 = 2.19 Year 2002 408500 Current Ratio = 490000 = 2.12 Year 2001 231000 Comments: A very good and stable current ratio. But since it is consistently above 2, it also means that jPhones is not effectively utilising its assets or financing avenues properly. Acid Test Ratio = Current Ratio Stock (liquid assets) Current Liabilities Management Efficiency Ratio Stock turnover ratio Stock Turnover = Cost of Sales Stock Stock Turnover = 316925 = 0.43 Year 2002 730000 Stock Turnover = 239906 = 0.62 Year 2001 384000 Corporate Ratios Earnings per share: Measures the profit allotted to each share in the common stock category. Earnings per Share = (Net profit after tax + preference dividend + extraordinary items Number of shares in issue Market to book ratio Market to Book Ratio = Market Capitalisation x 100% Book value of equity Dividend Yield Dividend Yield = Dividend Declared x Dividend Rate Market Price of Share Financial Ratio Gearing Ratio Gearing Ratio = Total Assets x 100% Book Value of Assets Common-Size Analysis (CSA) One of the disadvantages of comparing balance sheet results is that the numbers give a quantitative weightage and no further information on efficiency. Common size analysis of balance sheets can be done by comparing two components of similar nature for the companies compared and based on the outcome a better company can be selected. The formula for CSA is as follows Common Size Ratio = Item of interest Reference Item If the formula above is to be modified for inventories then it can be stated as follows Common Size Ratio for Inventory = Inventory Total Assets Limitations: Different accounting principle used by different firms needs to be taken into consideration. The same applies for the difference in accounting calendars. Ratio Analysis Comparison of ABC Mining and jPhones Ltd: After the various ratio analysis undertaken for coming up with an advise to the investor the same is posted below ABC Mining Corporation jPhones Ltd Principle Component Sub Component 2002 2001 2002 2001 Profitablity Ratio Return on Capital Employed 15.56% 15.43% 14.66% 25.20% Return on Owners Equity 23.28% 22.28% 18.67% 25.20% Asset Turnover Ratio 0.94 0.88 2.15 1.21 Gross Profit Margin 26% 26% 35% 35% Net Profit Ratio 17.70% 17.59% 23.16% 31.57% Liquidity Ratio Current Ratio 2.25 2.76 2.19 2.19 Management Efficiency Ratio Stock Turnover 4.31 3.66 0.43 0.62 Source: Balance Sheet and Cash Flow Statement above From the table above it can be seen that jphones has added substantial values to its shareholders by generating higher income though during the later years the same has dropped. Even though the gross profit margin has stayed the same, ROCE has dropped by almost 10% while ABC Mining corporation has scored considerably on this count by maintaining a consistent value. This shows that the management is quite mature during various time scales to concentrate and generate a good return. Another point to note is the ability to generate dividend on a consistent basis. This is better suited to people who would expect continuous cash from time to time. Based on all the above parameters, the customer would do well to invest in jPhones Ltd as the company has generated higher profits and has also given better dividends over the same period. Provided no major changes are experienced in its stock prices it will prove to be a better investment for a year or two initially. Tools of Financial Analysis During the recent economic downturn that has gripped the world; one thought has come to the forefront of corporate financial managers. It has questioned the core value of accounting practise that are practise by auditing firms and various companies. With this backdrop financial managers the world over have their task cut for themselves to prove that they can add value and regulate themselves without any outside intervention. On one hand businesses do have a requirement to take calculated risk and grow their business but blind risk will put organisations future and reputation at risk that needs to be avoided. Organisations sundry and great now are taking steps to ensure that financial data collected, recorded, and analysed are actually reflecting the status of their companies as it is this information that is used to make strategic decisions. The situation has also renewed interest on failure prediction and financial models that proclaim to predict the start of a downturn financially. However, these tools though quite phenomenal in their performance do not give strategic suggestions but results are rather in the form of numbers and this once again underline the value of human mind that can make sense and give purpose to these numbers. The notion of recording financial transactions has been in existence from very old times. From a crude record of marking lines to denote data in olden days, financial information has assumed various forms and has undergone considerable standardisation to the present day. This standardisation has in effect brought a degree of transparency to all people who view this report as the reports to some extent are standardised by various governing bodies. A reason for such standardisation stands justified as the information may be given to two sets of people who are well versed with accounting principles and also by those who are have no idea of financial standards, managers and public. The same information is looked at from a different view by investors, financiers and tax departments. Thus it is quite clear that financial information and analysis serves a host of people intent on knowing about the status of an organisation. As such financial information and details is akin to a doctor feeli ng the pulse of a patient to elicit diagnosis. Analysis financial information is not as simple as it is believed mainly due to the varied group of people accessing the information. The information needs to be in a standardised format such that a varied group comes to the same conclusion after going through the information. A lot of studies have been undertaken to ascertain the effectiveness of financial analysis. Before making a judgement on the effectiveness, let us look at the parameters of analysis of performance. The following broad parameters are used for financial analysis of a company at any point in time. Profitability Ratio Liquidity Ratio Management Efficiency Ratio Corporate Ratio Financial Ratio Employee Ratio In addition to the above parameters, various other criterias are used mainly Balanced Score Card Cash Flow Analysis Fund Flow Analysis Trend Analysis Common Size Analysis. The presence of various tools means that there will always be a debate on how effective each of the component or a group can measure up as a tool to predict future direction. As predicting the future is a means to be better prepared, care needs to be exercised on how to analysis and what to analyse. Conclusion As mentioned earlier the main reason for looking at the ratios from time to time is to check the healthy nature of the organisation and take effective steps to improve the situation. However, great care needs to be emphasised during such analysis, as the outcome of the results only have values and do not suggest any alternatives. In a recent study on checking the effectiveness of ratio analysis in predicting an organisations failure led Johnson to conclude that there is no clear logical link between the results found in a ratio analysis to failure. Nonetheless, as the human mind links numbers to performance, ratio analysis is here to stay. The results need to be taken up with a pinch of salt with comparison of performance against other analytical methods to yield proper views and steps that needs to be taken from an organisational point of view. Another argument is that ratios do not given underlying economic turmoil or alternatives that can be taken by human mind. Thus ratio analysi s with application of sound decision making can go a long way in putting the organisation in the right path to success.

Enterprise Architecture as Strategy Free Essays

string(206) " as architectural process rather than a framework, this report recommends to apply Coachman Framework for economy and TOGA as architectural process for MEG to implement Enterprise architecture as strategy\." Executive Summary This report is an examination of change process prompted by MEG International, a large and reputable Finnish IT organization. This report explains Enterprise architecture and how it can be applied as a strategy. It explains Coachman’s â€Å"framework for enterprise architecture† (Coachman, 1987) and the components of its two dimensional matrix. We will write a custom essay sample on Enterprise Architecture as Strategy or any similar topic only for you Order Now Criticism that Coachman framework is only a taxonomy follows on identifying next framework â€Å"The Open Group Architecture Framework† (known as TOGA) and it’s criticism that can act as architectural process rather than a framework, this report recommends to apply Coachman Framework for economy and TOGA as architectural process for MEG to implement Enterprise architecture as strategy. You read "Enterprise Architecture as Strategy" in category "Papers" This report then follows on defining Re-engineering process from the key organizational change perspective. The report follows on the next section explaining the critical risks to re-engineer an organization and how to make sure the re- engineering process has been implemented successfully. While analyzing the implementation of re-engineering process this report introduces Muckiness’s seven â€Å"S† (Systems, Structures, Staff, Skills, Strategy, Style, Shared Values). The next section f the report then provides the Justification that change is inevitable in an organization and identifies four main reasons for it. Although most people said MEG international is successful, its poor profit results, poor management practice and lack of communication and teamwork contrasted those statements. 1. 1 Enterprise Architecture as strategy Enterprise architecture is the practice of applying a comprehensive and rigorous method for describing a current and future structure and behavior for an organization’s processes, information systems, personnel and organizational sub- units, so that they align with the organization’s core goals and strategic direction (Shaw, 2007). Similarly, Coachman (1987) describes enterprise architecture as it is to pep the business from disintegrating; the concept of information systems architecture is becoming less of an option and more of a necessity. Enterprise is an independent, standalone entity comprising set of business functions and architecture is the underlying framework that provides the ground for the enterprise to operate efficiently to achieve organizational goals. The primary purpose of creating enterprise architecture is to ensure that business strategy and IT investments are aligned and provide long-term view of a company’s processes, systems and technologies (Ross, Well Robertson, 2006). Enterprise architecture is important because organizations need to adapt increasingly fast to increased competition, changing customer requirements, and business goals. Since MEG international was showing signs of reduction in sales and threatening market position by foreign competition were perfect examples that MEG was not adapting to rapidly changing environments. This need for adoption has influence over the entire business processes; change in one business process may influence other business process. To keep enterprise architecture coherent, change should be managed accordingly in all architectures, and the relations between different architecture just be clear so it is vital for MEG to implement enterprise architecture as a strategy to be able to gain competitive advantage. Main difficulty in adopting enterprise architecture as strategy is to match business architectural alignment and IT alignment because of the differences in architectural modeling methods. Business analysts build complex business process models; similarly IT architects can design complex applications. These two groups of people may be best at what they do but they lack common language to understand each other’s design. Mona Lisa although being Information Systems consultant didn’t have he leadership capacity or vision on how she is going to approach the issue of aligning these two processes, or what framework to use for the enterprise architecture and what IT strategy to choose to move forward towards the change process. Some of the well known examples of enterprise architecture frameworks that can help to build the strategies around enterprise architecture in MEG are: Coachman’s â€Å"framework for enterprise architecture† (Coachman, 1987) (Figure 1): This framework is a logical structure for classifying the different perspectives involved in enterprise architecture in a two dimensional matrix that are significant to TTS stakeholders. The matrix consists of levels or player perspective (scope or planner, business model or business owner, system model or designer, technology or builder, detailed representations or subcontractor and Functioning Enterprise) and six columns or aspects (data, function, network, people, time, motivation). From the Business owner perspective â€Å"data† represents information about customers, products, suppliers and relationships between these entities (Session, 2007). On the other hand â€Å"data† from the perspective of technical person implementing the database is rows and columns in tables which are linked together by Joins (Session, 007). If we move left to right on the grid we see different system descriptions from one player view whereas if we move from top to bottom it changes the different player perspective of viewing the system descriptions. Both perspectives are therefore critical for understanding the system’s architecture that Coachman tries to address in his architecture. There are some criticisms about this framework that it itself doesn’t define the methodology of the framework and is a complex process and can be applicable for large organizations only. This framework mainly acts as a template where goals, ales, processes, materials, roles, locations and events that organizations require must be filled in. Session (2007) argues that â€Å"the Coachman Framework is actually taxonomy for organizing architectural artifacts (I. E. Design documents, specifications, models) that takes into account both who the artifact targets (e. G. Business owner, builder) and what particular issue (e. G. , data, functionality) is being addressed†. The Open Group Architecture Framework (known as TOGA) (Figure 2): This framework mainly has four components such as: business architecture, application architecture, data architecture and technical architecture. Business architecture explains how business processes are aligned to meet the organizational goals. Application architecture describes how the applications are designed and explains the relationship between industry wide applications. Similarly Data architecture explains how the enterprise data are stored and accessed and finally technical architecture is responsible for explaining the interactions between software and hardware infrastructure. It mainly relies on already existing, proven technologies and products and tries to give a well-tested overall starting model which can be further extended. Although TOGA describes itself as â€Å"framework†, Session (2007) categorized TOGA as architectural process rather than an architectural framework. Session (2007) further extends Coachman explains how to categories the artifacts and TOGA gives the process to create them. So for an organization like MEG international Toga’s Architecture Development Method (ADAM) (Figure 3) provides a strategic process for moving from generic to specific enterprise architecture. Therefore taxonomy like Coachman and an architectural process like TOGA seem very much appropriate for MEG to adapt Enterprise Architecture as strategy. . 2 Re-engineering Re-engineering could also be interpreted as reverse engineering or radical redesign of a business process which disregards all the traditions and assumptions of the past business processes or procedures and develops new one aiming to leap forward in performance and this seems essential for MEG International. Reengineering process involves in identifying the characteristics of an already engineered product or services and the processes involved in developing those, then redesigning all the processes from the scratch to improve current productivity or customer satisfaction. Hammer Champs (1993) describe business re-engineering as the â€Å"fundamental rethinking and radical redesign of an entire business system to achieve dramatic improvements in critical measures of performance. Reengineering is most often called business process reengineering which is aimed to accomplish tremendous changes within an organization and underpins all the possible outcomes to maintain a true competitive advantage among the competitors. Reengineering focuses on identifying and abandoning outdated rules and assumptions and creating new rules, work methods and workflow to achieve organizational goals aiming to increase productivity, product quality and customer satisfaction drastically. Firstly company need to identify the problems and what can be the solutions to fix them. If that cannot be fixed by some other meaner or change process then a basic re engineering model must be developed, then company’s core processes should be redesigned and final stage is to adopt the new design. Re-engineering is not a simple task to accomplish, it requires fundamental rethink and radical redesign of business processes. For effectiveness it requires structured and analytic approach to generate aromatic improvements in cost reduction, quality improvements, customer satisfaction, speed etc. Epic] Reengineering (Hammer Champs, 2003, p. 2) Companies that are in deep competitive differences with their competitors, companies who have managers who can see problems arising like MEG and start on re-engineer the business before all their competitive advantage are wiped off. Hammer and Champs (1993)g’s rhetorical question of reengineering is that â€Å"If I were re-creating this company today, given what I know and the current level of technology, what would it l ook liker. Focus on fundamentals, radical redesign element, the potential for dramatic results and business process orientation must be addressed while answering the question. Fundamentals like what the organization does, why it is done that way, what are the tactical aspects, should be addressed while designing re-engineered process â€Å"what should be†. Superficial changes and quantum leap in performance is the must while re-engineering not only marginal enhancements and improvements. These changes should address current business process, plus implement improved and simplified processes that improve value to he customer. . Critical risks to re-engineer organization and successful change implementation Re-engineering the organization processes or business process reengineering (BPR) can produce drastic change and improvement in the organizational processes if implemented successfully. However if it is not implemented correctly it will not work as advertised and fail to meet the high ex pectations. Recent surveys show that about 70% BPR fail and some organizations that have put massive effort in BPR are only able to gain marginal benefits (Davenport, 1993). These figures indicate that re- engineering has high risk but also organizations are ready to take the risk because the output when executed efficiently can be astounding. Some of the risk that could derail BPR process can be no support from senior managers, focusing on automating current processes before reengineering process is identified, making technology alone dependent on change process and not identifying the limitation of the current Information technology infrastructure. Other directly impacting difficulties that BPR can face involves employee resistance to change, not addressing employee concerns, schismatic of strategy goals, lack of leadership oversight and commitment. Including all these risks main critical factor is that organization must be truly committed to change in the re-engineering process with full support of senior level management. At Meg international even though Latino thought that everyone would be excited by the prospects of organizational change, only few expressed any enthusiasm for understanding general management. Most of the divisional heads were not clear on what re-engineering process is and were misinterpreting the concept in their own words which created an anxiety among most of the employees which resulted in loss of number of good technical staff. These were clear signs that most of the divisional heads were not ready to help in the re-engineering process that was very bad sign for Mona Lisa to start with. Since the BPR is a high risk process and involves high level of tasks to achieve, it can never be one man Job; it stresses the use of team throughout the process. Lisa however didn’t show any initiative in having a team; as a result her rigorous efforts were wasted and ultimately lead to her resignation. If I was in her position then my first priority of this project could be to create team of experts from different parts of organization to understand the business processes and technical infrastructure, and hire few members in the team from outside who have better understanding of re-engineering process who will be responsible for explaining the management team what re-engineering actually is and what we are planning to achieve. It is unlikely that an organization can ignore the existing infrastructure and implement a process from scratch. It is more realistic to acknowledge the resources available and any real constraints and develop fundamental understanding of their implications on the process redesign (Davenport, 1993). After the process is redesigned, available Information Technology should be used to facilitate the implementation of new process that rules out the possibility of technology to be the limited factor. While process re-engineering is not a technology endeavourer, IT is recognized as having a critical role to play in re- engineering efforts, primarily as an enabler of new operational and management processes (Davenport and Short 1990; Hammer and Champs 1993; Davenport 1993). However, IT in itself cannot be held responsible for the ultimate success or failure of the business strategy. When skillfully applied, IT can provide support for the intermediate processes that taken together comprise the execution of an organization’s strategy. Since organization’s culture is an important aspect and cannot be ignored in the change process, the framework that I will be using during re-engineering process is Muckiness’s seven S diagram (Figure 4) because it encapsulates the key components of an organization and has Shared Values (or Culture) at its centre. 2. 1 Systems:- These are the processes, methods, procedures, rules, techniques, technology, manuals, etc. That ensures that work is undertaken efficiently and accurately. These are the essential part of an organization to guide the management and staff. Therefore key to BPR process is to understand current systems and redesign them, often as Davenport (1993) highlights, new processes are enabled by new technology which ultimately engages employees to learn new techniques. 2. 2 Structures:- After the key processes are redefined, the next step would be to restructure the organization to match along these processes. The new form of organizational structure that aims to break the traditional types of structure, particularly bureaucratic and divisional structures is required. Hammer Champs (2003) recommend â€Å"a move to much flatter structures organized around the processes†, whereas Davenport (1993) recommends â€Å"a multidimensional matrix structure, with process responsibility as a key dimension† (p 160). To achieve this, Johansson et al (1993) states: â€Å"the new organization must accommodate a balance between functional expertise and process involvement† and goes on to say it is essential to remove functional barriers (IPPP). 3 staff:- As per Henley (1991) Staff is â€Å"the quality and quantity of people employed† and manager has the role of â€Å"motivation, reward systems, the structure of Jobs and team work† (pop). Davenport (1993) expresses â€Å"gain-sharing† (Pl 10), â€Å"lateral promotion†, upgrade from â€Å"role title to process title† (Pl 1 1), and interesting and challenging through â€Å"work role rotation†, he believes â€Å"encourages employees to redesign the proce sses to eliminate their own Job†. In contrast to Davenport’s expression BPR to some extent will be involved in down-sizing and right-sizing the workforce. 2. Skills:- Henley (1991) defines skills as â€Å"The competences the organization needs in its people in order to perform difficult tasks to a high standard† (pop). The BPR redefines the roles that should enhance and provide space for skills development where Hammer Champs (1993) add â€Å"New World of Work† where â€Å"Jobs change from simple tasks to multi-dimensional work†. This meaner â€Å"Job preparation changes from training to education, from rule following to exercising Judgment† and â€Å"manager’s change from supervisors to coaches† and â€Å"executives change from scorekeepers to leaders†(p 169). . 5 Strategy:- The main task in BPR is to discover the organization’s strategy and â€Å"of what drives competitive advantage in a particular industry; th e industry’s value chain and the basis for competition, and how a particular company seeks to gain competitive edge† Monsoon et al 1993, pop). BPR decisions and strategic decisions involving new processes new structure and new staff mindset is extremely difficult to achieve but managers should be trained to articulate their â€Å"Process vision† driven by â€Å"Business Strategy† Davenport (1993, Pl 27). 2. Style:- By style Henley (1991) meaner â€Å"the philosophy, values and shared beliefs adopted y managers in their use of power† (pop). BPR should be able to change the way things are done in the organization and behavioral changes. â€Å"Process innovation involves massive change, not only in process flows and the culture surrounding them, but also in organizational power and controls† (Davenport, 1993, Pl 3). 2. 7 Shared Values:- Andrews Stack (1994) state that in â€Å"successful reengineering business operations, individual belief sys tems become aligned with the stated beliefs of the organization† (Pl 15). Reengineering will definitely have a big impact on the cultural specs of an organization under new processes, structure, staff role, management strategy and style but â€Å"re-engineering demands that employees deeply believe they work for their customers, not for their bosses†(Hammer Champs, 1993, pop). BPR should establish new process teams linked by common values where employees must believe in self empowerment, self management and rewards based on skills must be used. Following this structure would provide me path to develop perfect strategy that would enable me to lead my team to successful re-engineering process at MEG international that would significantly improve the performance of the equines processes. Change is inevitable in an organization, the organizations unable to keep up with the change; cannot match up with the fast changing market and their survival will be in question. There are many things, events, or situations that occur in an organization or its external environment that affect the way a business operates, either that can be positive or negative. To cope with these occurrences, situations or events; every organization has to fundamentally alter the way they do business. Thus we can say the statement ‘Change is an ever-present feature of organizational life, both at an operational and strategic level. Therefore, there should be no doubt regarding the importance to any organization of its ability to identify where it needs to be in the future, and how to manage the changes required getting there. Consequently, organizational change cannot be separated from organizational strategy, or vice versa’ is very true. There are mainly four reasons that organizations need to changes that can be market changes, increased competition, external forces, and internal forces. 3. 1 Market changes The international demand for quality products, low prices, better service and increased level of client satisfaction are the key for the organizations change the way they do business in current global economy. To match these ever changing needs companies are forced to form collaborative arrangements, cooperative ventures and even alliances. Social and political pressures have always been there for the organizations. Employee values, needs, priorities and their motivations are always influenced by the political and social events. To match up with their needs it’s essential for managers to adjust their management styles and arrange comfortable environment for employees. . 2 Increased competition In past where there were technology was not advance enough and there was less global competition with slower moving business environment where change occurred incrementally and infrequently. But now challenges organizations face is different, globalization has created both opportunities and challenges forcing firms to make drastic changes not only to compete but to survive in the market. Globalization is basically driven by technological advances, international economic integration and domestic market maturation (cotter 1996). Even companies operating in small entries can feel the impact of global competition. 3. 3 External forces External driving forces are those kinds of situations or events that occur outside of the company and they are beyond the control of an organization. External forces can be expressed under these sub-classifications: Demographic Characteristics: The change in population and their density come under this classification that can trigger organizational changes. This mainly includes changes in age, gender, race, and increase in diversity. Technological developments: In current business environment technology plays vital role in any organization. The Internet has revolutionized the way in which information is exchanged, communication facilitated and commerce conducted. Technology is rapidly changing and effective management demands more knowledge in these areas in order for companies to manage their resources and develop, maintain or keep their competitive edge. It is essential for organizations to adapt technology to improve productivity and market competitiveness. Since technology is fastest changing entity, any business missing to follow the technological changes might loose their competitiveness or wiped off completely from the market. . 4 Internal Forces Internal driving forces are those kinds of situations or events that occur inside the company and they controlled if there is proper initiative taken. Internal forces can be expressed under these sub Human resource factors: -classifications: People change more frequently and they bring in their changed perceptions in the organizations. Their perceptions about the work and work environment, their expectations from their managers and colleagues, flexibility and balance between work and their life etc could act as important factor for organizational change. To increase employee motivation, and improve their commitment and education towards work, their stresses, sources of conflict, work overload, and ambiguity need to be identified and eliminated. Managerial behavior/decisions: Excessive interpersonal conflict is often a clear sign that change is needed. Due to the important role of the manager in introducing and managing change in the organization, skills training and capacity building programmed for both manager and employee might be necessary. It is suggested that a better strategic approach to change is where organizations and heir people continually monitor, sense and respond to external and internal environment in small steps as an ongoing process (Burners, 2004). Early model of change was developed by Lenin (cited in Burners 2004, p. 985) consisting of three- stage process. First stage is â€Å"unfreezing† which is mainly aimed at overcoming or dismantling the existing â€Å"mind set† that are resisting change. Secondly the change implementation which can be of lot of confusions where old ways are challenged and new ideas have not been fully stable. Final stage he called is refreezing stabilizing hanged within organizational culture, norms, policies and practices in order to ensure the new behavior is sustained in individuals. The unfreezing process is extremely important when introducing new technology with most failures occurring at this stage due to two factors; a lack of effective communication at the beginning and a failure to involve affected individuals in the change process. Therefore Cotter (1996) identifies that successful transformational change requires all of the steps in (Figure 5) and that the total time for the change is considerable. Skipping a step never reduces a satisfactory result and ‘critical mistakes in any of the phases can have a devastating impact’ (Cotter, 199, p. 7). 4. Re-engineering Implementation In an organization there are various business processes which are usually fragmented into sub-processes and tasks. Re-engineering should identify these individual fragmented processes and tasks. Re-engineering should start with assessment of the organization’s mission, strategic goals, and customer requirements main questions to be asked are â€Å"who are the cu stomers? What are our strategic goals and are they aligned with our mission? â€Å". According to (Hall, et al, 1993) five keys to re- How to cite Enterprise Architecture as Strategy, Papers

Features of Public Health Care Policy for Medicare - myassignmenthelp

Question: Write about theFeatures of Public Health Care Policy for Medicare. Answer: The primary focus of the essay is the different health care policy and the different aspects related to it. It further contains the evidence, stakeholder advocacy and the political choice in the understanding of the public health policy. The emphasis has been laid on the policy triangle to identify the main features of the Australian government`s Medicare Benefits Schedule Review Taskforce`s preliminary report on the after-hours practitioner services. To support the argument the policy triangle model has been taken into account. It identifies the stakeholders and the process of shaping the policy. Finally, the importance of the policy and the procedure of making it better have been mentioned in the essay. By doing a detailed study of the taskforce, it has been noted that in between the years 2010-2011 and 2015-2016, there has been an increase of the number of the urgent after-hours MBS services. The services have increased unto one hundred and fifty percent. Not only this but the benefits paid also has increased by one hundred and seventy percent. In some urban areas of Australia, the use of this urgent after services has increased largely. The growth in the stopping of the urgent after-hours services comes as not be driven by the increasing clinical need for the urgent after-hour services (Glasgow, et al., 2012). It has merged with the entry of new venture into the market with the inclusion of models, which promote the services to the clients and putting the focus on the feasibility of the customers without extra cost. In many cases it has been found that there has been no clear difference between `urgent` and `non-urgent`. It has been highly confused by the medical practitioners. Th e high demand of the use of the items by MDS services merges with the continuing service of care by the patient`s regular GP and MDS services are at times offered less qualified practitioners. This funding should be made available for the after-hour services. The MBS items for the urgent after-hours attendances should not be made available where the patient has made an appointment before the commencement of the after-hours period (Kannan, Rabanal Scott, 2012). There has been efforts taken to understand the policy analysis. Many scholars and practitioners have made the effort. However, less attention has been put forward towards this. The analysis of the health policy issues is the understanding of the interactions between different institutions, interests and the ideas related to the health policy. The health policy environment is the most important thing (Treml Halpin, 2012). Certain specific characteristics of the health sector affect the environment of the policy. The state is both the provider and purchaser of the services. It can run as a partner with the private sectors. In the undertaking of the health care purchase and regulations, the state is almost heavily relies on and it lacks the essential information which can solely be provided by the sectors it is overseeing. Health issues are maximum times of high profile and it demands the attention of the public. The government also has a major role to play (Weimer Vining, 2017). The state government at times indulges in the partnership with the private health care sectors. The policy processes are changing often. It is not fixed and static. It is not constant. The government at times offers the public medical facilities, which add up to the public health care policy systems. Many problems have risen because of this. The private policy systems are costly compared to the public ones. Maximum people cannot afford the private health care sectors (Sorrentino, et al., 2012). There are many problems as well related to the approach. It is obvious that the pre-conditions will be present at the same time. The roles of the higher level of government will be adopted and the roles of the other actors are neglected. It is difficult to apply any kind of approach when there is not a single exclusive policy or any kind of agency involved. The policies keep on changing as they are being implemented. There is one effective approach, which is the bottom up approach, which implies that the people at subordinate levels have the option to change the policy and reshape it according to their convenience. The evaluation of the policy becomes quite difficult (Fainstein DeFilippis, 2015). It becomes difficult enough to separate the impact of the individuals and different levels of government on the results and effects of the policy. There is another important theory, which is known as the principal-agent theory. According to this theory in each situation, there is certain re lationship between the people who define the policy and the people who takes part in the implementation of the policy (Jenkins, et al., 2016). The principal-agent relationship of the policy depends upon the nature of the problems related to the policy. it further includes the scale of the chain required, it also includes the full size of the groups which is being affected. It also includes the positive sensitivity. The formal and informal agencies are taken into account (Turner, 2014). Thus from the above essay it can be concluded that certain health policies needs the political attention. Though politics acts as the decision maker in the formulation of the policy in any nation, the nation needs to pay attention to the formulation of the policies. It should aim at creating a nation free from the health issues. The implementation of the policies should be able to address the obstacles that are addressed due to the failure of the approaches. It should completely focus on the formulation of the policy for the betterment of the nation. it must identify the roles of all the stakeholders including the government and the heads of the private health care sectors. The evidence-based policy should be formed. All the actors in the system must function effectively. The role of all the actors must be analyzed completely as they have an important part to play in the process. It must make sense of how few health issues merged into the government policy agenda. References Fainstein, S. S., DeFilippis, J. (Eds.). (2015).Readings in planning theory. John Wiley Sons. Glasgow, R. E., Green, L. W., Taylor, M. V., Stange, K. C. (2012). An evidence integration triangle for aligning science with policy and practice.American journal of preventive medicine,42(6), 646-654. Jenkins, T. J., Mai, H. T., Burgmeier, R. J., Savage, J. W., Patel, A. A., Hsu, W. K. (2016). The triangle model of congenital cervical stenosis.Spine,41(5), E242-E247. Kannan, P., Rabanal, P., Scott, A. M. (2012). Monetary and macroprudential policy rules in a model with house price booms.The BE Journal of Macroeconomics,12(1). Sorrentino, N., Menniti, D., Esposito, L., Gallina, G. (2012, September). A model to compare supergrid projects using EU policy triangle. InEnergy Conference and Exhibition (ENERGYCON), 2012 IEEE International(pp. 738-742). IEEE. Treml, E. A., Halpin, P. N. (2012). Marine population connectivity identifies ecological neighbors for conservation planning in the Coral Triangle.Conservation Letters,5(6), 441-449. Turner, P. (2014). The global long-term interest rate, financial risks and policy choices in EMEs. Weimer, D. L., Vining, A. R. (2017).Policy analysis: Concepts and practice. Taylor Francis.