Schizophrenia Assignment

The many aspects of mental health education among mental health consumer groups or their families; case study of Schizophrenia

Schizophrenia Assignment – The traditional format of the health care involves a clinician or a health worker being the major decision making factors on the modality of treatment, with a relatively insignificant proportion of inputs from the consumers. However, in modern settings such inputs from the targeted consumer population are highly appreciated, especially in chronic and debilitating disease management, where concerted efforts of the clinical staff, patients and their families is essential in tackling the disease.

A key to such inputs and interactions is to raise the awareness of the targeted consumers or their families on the various aspects of the disease, its monetary and social costs, as well as to raise the psychological acceptance of the patients in the society. Mental health is one such area where beneficiary interactions between the patients/caretakers and the providers of health services on the many aspects of the decision making could be of maximum utility. This is because of mental health disorders are not only generally chronic in nature, but also because social interactions play equal role as much as medicine in the successful treatment of the disease.

Schizophrenia is a chronic and debilitating mental health disorder, with an abnormal social behaviour and failure of objective thinking. Confused state of mind, hallucinations, abject thinking and lack of motivational thinking are some of the general symptoms of the disease. There is also a higher rate of suicidal thinking among the schizophrenic patients.

While both a genetic makeup as well the conditions of upbringing have been shown to influence the disease, the general understanding is that schizophrenia is a syndrome, with multiple or complex causative factors. Due to the complex and the chronic nature of the disease, prolonged or even lifelong treatment is essential. In addition, social rehabilitation as well as sympathetic public perception and counselling are extremely necessary for the successful management of the disease condition.

Due to the generally poor social interactions and abject thinking, it is important that the patients and associated family members or caregivers are aptly educated on the various available modalities of therapy as well as being provided with the necessary moral support of the institutions and health workers who are involved in the treatment of the patient.

Benefits of educating the consumers of schizophrenia treatment

Close observation, sympathetic care, timely therapeutic interventions are extremely essential for schizophrenia cases and it is important that the care givers are also educated on the many aspects of successful and prolonged care. In many developing countries, the family of the patient is the primary effectors for the care of the patient due to constraints of money, lack of physician’s effective attention time and poor number of supporting staff. In such a scenario proper education of the consumers not only ease the process, but also helps in relieving the psychological distress of the patient.

Proper education also helps in dealing with the caregiver’s stress and maintaining a healthy environment around the patient who needs a social support more than the medicines. If the family of a patient is properly educated, they are well informed about the illness and are more “skilled” to deal with their deceased relative. Moreover, it also helps in a smooth process of settling insurance claims, money management and availing welfare benefits from the designated agencies. At a national level, there should be a streamlined education program and a process so that each care giver knows which physician to consult, how to reach the hospital for consultation, and how to mange the initial expenditure. It is essential to consider the psycho-sociological impact of the nature of this syndrome.

Potential barriers to effective education with the selected group

Schizophrenic patients generally have poor social interactions, and some of the symptoms such as suicidal instincts, auditory hallucinations and abject thinking, make the sufferers alienated from the general population where the patients form part of.  Such alienation at work place, educational institutions or close societies could be detrimental for the patient and could in turn lead to increased social reticence and suicidal tendencies.

Similarly, like other chronic mental health disorders, the family members of schizophrenic patients face unfriendly behaviour from close societies, in addition to the difficulties in managing the patients. In totality, a schizophrenic patient’s family is itself not in a healthy frame of mind and hence special concerns or skills should be employed to properly educate them. Caregivers at hospitals, mostly have to deal with a higher number of patient’s per head basis and are already under stress. Money is another potential barrier and the caregivers also point to the need of proper transport, medical insurance and food in developing countries. Most of the time in a developing country, it is a cultural problem, the family is not highly educated and if the case is the first in their family, they do not know how to proceed at the first hand.

Effective communication skills to a larger group with different social background are another potential barrier in a multiethnic, multilingual society such as India and Australia. Education cannot be provided to each and every individual on a personal basis in highly populated societies where the patient load is higher. Hesitation to participate in a community based rehabilitation program is another constraint as you have to convince maximum number of the individuals to get educated and participate in such an event. ‘Self determined medical discontinuation’ is another hindrance as many patients would stop consulting the physician and discontinue taking their psychotic medication.

Hence, the patients should be educated on a recurrent basis and should be informed well that even if they think they are healthy they should continue their follow up management. Schizophrenia patients also suffer from a vocational impairment due to various reasons and according to the social drift hypothesis they are driven towards are social backwardness. This has to be addressed not only by proper education from therapy point of view, but also from the point of view of vocational empowerment. Psychosis and Schizophrenia in children poses an additional barrier as it shows a worse prognosis and educating the consumer in such cases needs special skills.

Skills required by the nurses

Schizophrenia cases involved an enhanced psychological stress and many a times the situation gets complicated by the family attitude, patients’ failure to adhere to the treatment regime, tolerability issues, embarrassment and recurrence. In such a scenario the educating nurse should exhibit an exceptional degree of restraint, compose in their behaviour and control of their own stress.

Schizophrenia Assignment
Schizophrenia Assignment

Since the patient itself and its family have an educational gap with respect to the medical field, a nurse should have the ability to bridge the gap between a layman and a professional. The nurse should have exceptional communication skills, should be available during off hours, should be willing to tolerate seemingly off the subject queries and should be able to understand the needs of the consumer. Most of the needs of the consumers are related to money, medical reimbursement and insurance issues and as such the nurse should be well acquainted with the relevant subject, although not directly related to medicine.

Many a time’s patients are unwilling to adhere to the schedule. The severity of the side effects of the schizophrenia treatment such as sedation, weight gain or pain etc is the major concern of the patients. The nurse should in such cases educate the patient as well as their family about the alternative methods such as long acting injectable (LAIs) instead of oral therapy, etc. Nurse should be able to identify the patient’s strength area and make use of that strength for proper counselling approach. It has been observed that the preferences of patients and their family doctors vary, say for example, patient does not like the idea of shared care records while the health practitioner advocate for it.

In such case the responsibility of the educating nurse is to ensure that patient and their family members are educated in the benefits of community participation. In many cases of patients undergoing treatment with the second generation antipsychotics, we have to induce them for a regular exercise schedule. Nurses should be able to motivate the patients and hence a nurse should also have motivational skills. Proper fitness is also required as the nurse should lead by example, that regular exercise is beneficial.

Conclusion

Schizophrenia is not only a medical problem, but a socioeconomic crisis. It not only harms the patient per se, but also affects its family as well as the whole community. Consumer education that involved counselling of the patient as well as educating the family and involving the whole community is an important tool for improved outcome. It not only reduces the stress environment, but also helps in improving adherence to the treatment regime, delaying the reduction in the social attainment, delay in the loss of cognitive skills and improve the overall status.

Nurses imparting the education hence have an added social responsibility in addition to their medical duty and thus should be equipped with special communication skills. Controlling the stress, inspirational and motivational behaviour and above all a positive attitude is the most important requirement.

References

Beebe, L. H., Smith, K., Burk, R., McIntyre, K., Dessieux, O., Tavakoli, A., Velligan, D. (2011). Effect of a motivational intervention on exercise behavior in persons with schizophrenia spectrum disorders. Community Ment Health J, 47(6), 628-636.

Brooke-Sumner, C., Petersen, I., Asher, L., Mall, S., Egbe, C. O., & Lund, C. (2015). Systematic review of feasibility and acceptability of psychosocial interventions for schizophrenia in low and middle income countries. BMC Psychiatry, 15, 19.

Chen, M., Wu, G., Wang, Z., Yan, J., Zhou, J., Ding, Y., Song, L. (2014). Two-year prospective case-controlled study of a case management program for community-dwelling individuals with schizophrenia. Shanghai Arch Psychiatry, 26(3), 119-128.

Geerts, P., Martinez, G., & Schreiner, A. (2013). Attitudes towards the administration of long-acting antipsychotics: a survey of physicians and nurses. BMC Psychiatry, 13, 58.

Girma, E., & Tesfaye, M. (2011). Patterns of treatment seeking behavior for mental illnesses in Southwest Ethiopia: a hospital based study. BMC Psychiatry, 11, 138.

Heresco-Levy, U., Ermilov, M., Giltsinsky, B., Lichtenstein, M., & Blander, D. (1999). Treatment-resistant schizophrenia and staff rejection. Schizophr Bull, 25(3), 457-465.

Karthik, M. S., Warikoo, N., Chakrabarti, S., Grover, S., & Kulhara, P. (2014). Attitudes towards antipsychotics among patients with schizophrenia on first- or second-generation medications. Indian J Psychol Med, 36(3), 288-293.

Kasckow, J., Appelt, C., Haas, G. L., Huegel, S., Fox, L., Gurklis, J., Daley, D. (2012). Development of a recovery manual for suicidal patients with schizophrenia: consumer feedback. Community Ment Health J, 48(5), 564-567.

Kendall, T., Hollis, C., Stafford, M., Taylor, C., & Guideline Development, Group. (2013). Recognition and management of psychosis and schizophrenia in children and young people: summary of NICE guidance. BMJ, 346, f150.

Kheirabadi, G. R., Rafizadeh, M., Omranifard, V., Yari, A., Maracy, M. R., Mehrabi, T., & Sadri, S. (2014). Effects of needs-assessment-based psycho-education of schizophrenic patients’ families on the severity of symptoms and relapse rate of patients. Iran J Nurs Midwifery Res, 19(6), 558-563.

Kreyenbuhl, J., Buchanan, R. W., Dickerson, F. B., Dixon, L. B., & Schizophrenia Patient Outcomes Research, Team. (2010). The Schizophrenia Patient Outcomes Research Team (PORT): updated treatment recommendations 2009. Schizophr Bull, 36(1), 94-103.

Li, Z., & Arthur, D. (2005). Family education for people with schizophrenia in Beijing, China: randomised controlled trial. Br J Psychiatry, 187, 339-345.

Nazareth, I., King, M., & Davies, S. (1995). Care of schizophrenia in general practice: the general practitioner and the patient. Br J Gen Pract, 45(396), 343-347.

Omranifard, V., Yari, A., Kheirabadi, G. R., Rafizadeh, M., Maracy, M. R., & Sadri, S. (2014). Effect of needs-assessment-based psychoeducation for families of patients with schizophrenia on quality of life of patients and their families: A controlled study. J Educ Health Promot, 3, 125.

Pjescic, K. D., Nenadovic, M. M., Jasovic-Gasic, M., Trajkovic, G., Kostic, M., & Ristic-Dimitrijevic, R. (2014). Influence of psycho-social factors on the emergence of depression and suicidal risk in patients with schizophrenia. Psychiatr Danub, 26(3), 226-230.

Vargas, G., Strassnig, M., Sabbag, S., Gould, F., Durand, D., Stone, L., Harvey, P. D. (2014). The course of vocational functioning in patients with schizophrenia: Re-examining social drift. Schizophr Res Cogn, 1(1), e41-e46.

Zargham-Boroujeni, A., Maghsoudi, J., & Oreyzi, H. R. (2015). Focusing on psychiatric patients’ strengths: A new vision on mental health care in Iran. Iran J Nurs Midwifery Res, 20(3), 340-346.

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IFRS IASB Frameworks

Finance Assignment – Various normative theories, measurement issues under IFRS and Conceptual framework

IFRS IASB Frameworks – This report basically provides an analysis of different financial accounting measurement techniques, their advantages and disadvantages and practical implications. Accounting measurement has become a controversial issue due to its assorted nature in financial reporting system. The conceptual framework developed by both systems is unable to provide accurate cost of assets and liabilities at the end of financial year.

There is a misunderstanding behind the rationale that whether measurement is a set of calculation or numbers but it provides no as such vivid explanations and is totally cognitive based. A lot of research work and publications have been made about this topic but the matter is still under consideration. Financial reporting measurement is a debatable issue and still under consideration.

Most of the literature has been published on the issue of historical cost and value accounting. It shows that it is never ending issue. Historical cost measurements narrates that total assets and total liabilities should be recorded and reported at the procured price while current cost accounting states that assets and liabilities should be recorded and reported at existing market value.

Role of IASB & FASB frameworks

International Accounting Standard Board Framework

International Financial Reporting Standards (IFRS) are based on the IASB framework developed for the sake of preparation and presentation of financial statement.

Financial Accounting Standard Board Framework

FASB is U.S primary body for the development of accounting standards. It issues new rules so called Statement of Financial Accounting Standards (SFAS) based upon FASB which are basically derived from Generally Accepted Accounting Principles (GAAP).

IASB and FASB frameworks present a facility of persistent and logical formulation of IFRSs and SFAS respectively. Both of these also aim to provide its users with a platform to resolve various complex accounting issues. Hence, framework has the benefit being the status of conceptual base for development of IFRSs.

The IASB issues IFRS to more than hundred countries which also include European Union but it excludes United States. There is a strong co-relation among both IASB and FASB standards. It is probable that U.S will also move to IFRS in 2016. Despite of all this, both IASB and FASB sat together to reach at a final conclusion about this matter but still there is a room for improvement.

Mary E. Barth has concluded that Fair value measurement provides somewhat precise and specific value of both assets and liabilities. The core objective of this report is to determine why other frameworks lack behind. (Mary E. Barth, 2013, pp 2-3)

Comparison of various cost approaches

There are many cost measurement techniques which are used to record assets and liabilities in financial statements; some of these are as follows:

Unmodified historical cost

This type of cost includes those amounts which were paid at the time of procurement of assets no matter whatsoever the life of asset is. It is totally inadequate way of recording measurement.

Modified historical cost

This cost is modified due to various factors like impairments, amortization due to depreciation or appreciation of asset with the passage of time. It seems to be relatively more valid type of measurements.

Fair value measurement

It is a net price which can be received while selling an asset or paying any liability in a logical transaction among market participants at the measurement time frame.

These are frequently used in financial reporting and possess different characteristics. Only one of these techniques is used to record assets and liabilities in common practice so as to draw conclusion based upon performance. Financial statements are comprised of total assets (both current and fixed), total liabilities (both current and long term) and owner’s equity. The framework indicates that equity is the difference between the assets and liabilities after proper measurements. (Mary E. Barth, 2013)

IFRS IASB Frameworks – A Critical Analysis

The aggregation is a qualitative attribute which slightly affects the quantity. Hence, a minor change in assets and liabilities generally affects net income and expense. However, the Framework does not elucidate the factors behind balancing effects on Statement of Financial Position (SOFP) and Comprehensive Income.

Fair value provide more effective results as compared to un modified and modified costs in case of single assets and liabilities as it contains both qualitative and take into account assets and liabilities. Whereas unmodified cost is totally irrelevant and invalid. Modified cost if not supported with accounting standards cannot be explained in a scenario.

Fair value determination is only more reliable and accurate if it is acquired faithfully with an ethical mentality. Still there is an ambiguity whether modified historical cost is more appropriate than fair value determination. Hence we may conclude that fair value and unmodified costs are set according to a specific economic objective while modified is an accounting calculative work.

Despite of all these measurement techniques, only one selected technique should be used for estimation so as to achieve significant accounting results. Anyhow, other technique can be used where direct measurement is impossible for estimation. This approach will be helpful to maintain consistency, comparability and significant aggregation of accounting data. . (Mary E. Barth, 2013, pp 19-20)

IASB recommended approach

IASB also endeavours to find a single measurement technique in its own projects. IASB also favours fair value measurement that it provides more effective results, though it sometimes fails to assess the cost of any asset. Practically, all the framework of accounting regulations except IFRS is not using single approach of measurement.

For instance, measurement of cost to predict operating cash flows will provide major share of turnover in going concern business approach, while fair value would be more appropriate, relevant and reliable for the valuation of marketable securities and investments. However if you use different approaches in each financial year, the descriptive authority of such aggregation would be more poor and risky.

Preliminary and Subsequent measurements

However, measurement approaches can be distinguished according to preliminary and subsequently with respect to nature of the measurement subject matter. For example, in case of going concern business, long term assets meets the pre-requisites while current liquid assets (inventories) and marketable securities are measured differently. However, it all depends upon standard setters that which measurement technique should be selected.

All the regulations of Accounting including IASB, FASB, UK Accounting Standards Board and Australian Standard Boards possess a common thing that financial statements are primarily developed to help its stake holders (external and internal users) so that they may analyze the organization. Investors can depict growth rate, market value and share value (Jiri Strouhal, 2014).

IFRS IASB Frameworks
IFRS IASB Frameworks

Effects of choosing wrong measurement approach

Determining right choice of measurement is very important for organizations. There are five different approaches like as fair value treatment of costs, historical cost accounting, modified historical cost accounting, current purchasing power accounting, current cost accounting and continuously contemporary accounting. All these techniques have various pros and cons. But fair value treatment of costs is mostly used and reliable approach to recognize costs. Accountant should be prudent while choosing cost approach.

Wrong choice of cost approach may adversely affects the financial statements, shareholders image towards firm’s assets and liabilities. Historical cost accounting deals with recording assets on purchased price which is wrong measurement. If any asset is to be sold, then we need to consider again choose either fair value approach or modified historical cost accounting as a measurement rather than historical cost accounting value. This type of costing is only helpful for long term basis if re-procurement of machine or asset is to be needed.

Current purchasing power accounting measurement shows the impact of inflation on the net value of money. To achieve CPP, firstly historical costs are changed into current prices with the help of consumer price index (CPI). But Price indexes quality includes simply averages and perhaps not matches with expenses incurred by even a single shareholder. It sometimes becomes ridiculous that if re-stated asset values considered everything while the changed amount is neither paid nor is asset value increased. Current cost accounting despite of its importance is not reliable for long term basis. Then we move to historical cost accounting for decision making.

International Accounting Standards

Some of the most important International Accounting Standards have been explained below to elucidate the effect of measurement and reporting accounting on current assets and liabilities.

Fair value measurement (IFRS-13)

Fair value measurements are mostly used and reporting standard. IASB, FASB, AASB lays stress to use this standard but each one provide their own standard guidelines for the determination of fair value. IFRS-13 also tells how preliminary fair value is to be measured and how successive fair value is found.

Fair value: It is an amount which can be gained when an asset is sold or a liability is transferred among market participants in normal transactions at measurement date. Market participant are usually those buyers which have economic and ethical rationale.

Fair values should be gained from principal market as it is pure competitive market and possess large volume of desired nature. If it is unavailable, then accountant should concern from advantageous market. Final fair value must contain location of asset and its condition

Assumptions

  • Transaction cost should be ignored
  • Transportation cost should be incorporated
  • In case of most advantageous market, both transaction and transportation costs should be incorporated

Inventories (IAS-2)

This standard has been developed to assist and provide a valuable accounting treatment for physical inventory which is a current asset. This treats cost of the inventory like an asset which can be easily carry forward unless it is sold. The standard also aimed to provide assistance to recognize and determine the costs along with net realizable value.

Scope

This standard is valid for all inventories excluding:

  1. It is not valid for construction contracts specially treatment of work in progress
  2. Financial instruments including marketable securities
  3. Natural assets or biological assets

Measurement of inventories

Inventories must be recorded at the lesser cost and net realizable value (NRV).

Cost of Inventory

Inventory cost includes cost of purchase, conversion cost (Labour and Production overhead) and the cost freight charges incurred to bring an asset from vendor place to factory.

Cost of purchase

This cost is comprised of purchase price, transportation charges, import duties, taxation other costs incurred to attain asset and trade discount and other discounts are deducted from original cost of purchase.

Cost formulas

Inventory once purchased can be calculated by using first in first method (FIFO) and weighted average cost method while last in first out (LIFO) is not allowed.

Cost of the inventory can be calculated through FIFO and Weighted Average Cost Method. However, LIFO method is not permitted.

Record of reversing (Expense)

Reversal of note down of equivalent inventory might be prepared up to the cost.

Events after reporting period (IAS-10)

IAS-10 tells the treatment for those events which occurs after the financial period. So, adjustments are to be made in financial statements. Management will provide final approval of accounts on 31st Mar, 2014 while final accounts will be forwarded to annual general meeting (AGM) to get approval for shareholders on 30th Apr, 2014. After this, reports will be authorized for issuance.

IAS-10 is appropriate for those events which are took place after the balance sheet date but to the date of authorization by the management i.e. 31st Dec, 2012 to 31st Mar, 2013. Event can be adjusting or non-adjusting.

Adjusting Events

Those events which present supplementary proof of their existence at the financial statement i.e. balance sheet are called adjusting events. Adjusting events are needed to be documented in the financial statements.

Example:

  • Errors and inaccuracies in financial statements if discovered after reporting period, their adjustments will be covered in adjusting events.
  • If a court case was settled validating the compulsions at the end of financial period.
  • If an asset was purchased earlier but cost of purchase confirmed after reporting period. 

Non Adjusting Events

Those events which doesn’t support supplementary proof of their existence at the financial statement i.e. balance sheet are called non-adjusting events. Non adjusting events are needed to be disclosed in the notes of financial statements.

Example:

  • Declaration of dividends is a non-adjusting event as these are recorded once these are proposed after reporting date.
  • Anomalous loss, natural disasters, amalgamation, renovation and acquisitions do not provide supplementary events so these are adjusting events.

Historical Cost Accounting

Historical cost is a sum of price which is paid by firm to acquire an asset for use. It includes all costs incurred to bring the asset for smooth operation. It is an ancient accounting standard which was developed with a rationale that prices are smooth and normal changes occur with a passage of time. Such conservative style of accounting doesn’t make and stipulation for change in purchasing power. There is less manipulation of mangers as it is only recorded at acquisition price every year. Accountants have to meet the expected return of its shareholders and investor despite of the net wealth of the firm. This shows that primarily focus is upon income statement which will be a vivid glance whether firm is working efficiently or not. (Jiri Strouhal, 2014).

Advantages

  • Historical cost has a substantive effect on appraisal evaluation and assortment of decision rules.
  • If management has to determine which decision would be more useful, it may get help from past performance.
  • Historical cost is directly associated with past decision. Past data is helpful to forecast for better decision making. There prime object is to determine what profit did they earn in past not what they can increase.

Disadvantages

Historical cost is inappropriate for decision making as it doesn’t follow stewardship function. Investors have more concern with up and down in their investments return rather stable return.

Modified historical cost

This historical cost is modified by inculcating various factors like impairments, amortization due to depreciation or appreciation of asset with the passage of time. It seems to be relatively more valid type of measurement. Modified cost basically provide better picture of firms assets and liabilities. In Australia, modified historical cost system is used instead of historical cost accounting. It states that assets should be recorded in balance sheet after fair value determination.

Current purchasing power accounting

It is an accounting measurement which shows the impact of inflation on the net vale of money. To achieve CPP, firstly historical costs are changed into current prices with the help of consumer price index (CPI).

This theory is basically derived from macroeconomic “inflation” perspective that persistent rise in general price level of commodities also called inflation adversely affects currency value. If pound value is decreased then it becomes difficult to compare financial statements by using this approach.

Strengths

  • CPP recognized the worth of money which should be generated and maintained in business to sustain overall shareholder’s purchasing power.
  • It is comparatively easy, cheaper and improves overall shareholders worth by eliminating inflationary elements which arise from change in currency from monetary profit.

Weaknesses

  • Price indexes quality includes simply averages and perhaps not matches with expenses incurred by even a single shareholder.
  • It sometimes becomes ridiculous that if re-stated asset values considered everything while the changed amount is never paid nor is asset value increased.

Current Cost Accounting

Assets are usually values at specific amount of cash or its equivalents if same asset is to be acquired for use in firm. Similarly, liabilities are also settled with the discounted amount of cash or its equivalents needed to reconcile the obligation presently.

Advantages

Current cost accounting use present clearer picture of an asset as compared with historical cost accounting which is helpful for decision making. Due to high degree of precariousness in business environment, financial statements should also demonstrate reality instead of past transactions. A study on New Zeland company directors by Duncan & Moorers (1988) signified that current cost accounting presents more valid and reliable information than historical cost accounting.

Disadvantages

Peasnell et. al. (1987) stated that cost accounting information is used by investors in short term assortment decision making. It also doesn’t work as a driving force for long term returns. Shareholders are more concerned with historical cost accounting to get information about investment returns.

Continuously contemporary accounting

This famous accounting theory commonly known as CocoA was given by an Australian Raymond Chambers. The purchasing primacy of money is highly volatile or current and is subject to change with the passage of time. This model basically tells that the current worth of the business is equal to the total cash equivalents of its assets. It just like current cost accounting system measure both assets and liabilities at the existing cash price.

Strengths

The model is designed in this way that accountants can easily deploy it in developing balance sheets and financial statements. The true picture of assets and liabilities in cash price provide an assistance to firm in rapidly changing environment. CoCoA balance sheets only estimates what will be received if its assets are sold to meet short term liquidity challenge.

Weaknesses

CoCoA system requires from the management to shift from cost based system to way out price which is highly opposed by top management in many firms. The CoCoA balance sheets are mostly failing in calculating internal worth of the assets as they only focus on market prices.

Finance Accounting Dissertation Topics
Finance Accounting Dissertation Topics

Case Study (valuation of roads and highways)

Renewal accounting method basically determines the impairment of highway infrastructure and roads. Highway infrastructure is considered a single asset and many performance indicators are applied to evaluate impairment on asset. Asset valuation involves measures to calculate firm’s assets and their current value in monetary terms. Current monetary value is also evaluated by depreciated replacement cost method for highway infrastructure assets specially.

DRC = Gross Replacement Cost – Accumulated Consumption

Impairment should be calculated by a consistent approach. Once an approach is set, valuation should be prescribed. Finite life assets and components by using conventional method is valid valuation impairment approach for highway infrastructure and roads.

All the assets and components can be categorized into two types:

  • Conditions based maintenance

This identifies physical condition and performance data is also used for estimation of consumption of the asset whereas maintenance cost is also paid to make it look new.

  • Time based maintenance

This approach identifies the asset consumption by its age and condition

Modified historical cost would be more applicable for smooth reporting and recording of costs in this case. As roads and highways are long term projects and their value also changes with the passage of time.

References

  1. Mary E. Barth (2013). Measurement in Financial Reporting: The Need for Concepts. Forthcoming, Accounting Horizons 2014, 40(1) 2-20
  2. Jiri Strouhal (2014) Historical Costs or Fair Value in Accounting: Impact on Selected Financial Ratios, Journal of Economics, Business and Management 2015, 3(5)1-5
  3. IASCF Staff (2005). Measurement Bases for Financial Accounting-Measurement on Initial Recognition 70(1) 101-180
  4. International Accounting Standards Board, 2011, International Financial Reporting Standard 2 IASB, London.
  5. International Accounting Standards Board, 2011, International Financial Reporting Standard 13 Fair value measurement. IASB, London.
  6. International Accounting Standards Board, 2011, International Financial Reporting Standard 10 Events after reporting period. IASB, London.
  7. Current-purchasing-power (CPP)
  8. Continuously contemporary accounting (CCA), retrieved Dec, 2014
  9. Guidance Document for Highway Infrastructure Asset Valuation taken

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Communication Strategy IBM

Communication Strategy IBM InvenSense

Communication Strategy IBM InvenSense – In this modern world of technology, a primary focus on network reliability is a quite understandable issue. From a business perspective, it is clear that availability and proper performance of a network will result in high productivity and will serve as a competitive tool against competitors. Networking is able to provide an environment that merges both communication and information through connecting computers and other devices to others in various departments of the organization. This facilitates competitive strategies such as cost leadership through reduction of cost brought about by sharing of both hardware and software resources.

Moreover, differentiation can be used since a business can be well aware of exactly what its customers want through market research and feedback communication mechanisms all because internal and external networks have been formulated. The International Business Machines Corporation (IBM), a manufacturer and marketer of computer hardware and software elements, fully understands the importance of having a complete networking system. InvenSense, a motion tracking Sensor Company has also integrated a business communication network in their day-to-day activities.

In today’s world, communication and networking are vital features to the success and continuity of every business empire. Networking is a priceless and critical business skill that is a key for any organization to visualize success. In other words, a company’s network allows the employers and the employees to have effective communication among the different departments and the global market. The main goal of every company is to boost their productivity, but at the same time reduce on the cost of production.

There is need for advanced technological establishments in order to improve the communication experience in an organization. Consequently, the organization will achieve its goal of boosting productivity since flow of information will be fast. Devices such as Laptops, mobile phones, and tablets have immensely improved the communication in different capacities making the world a global village. People are able to communicate at any time and pass vital information without risk of security breaches.

This has been made possible by network security, which allows, a user to access the internet while being protected from threats and protecting the resources connected to the network. Even though most of the threats emanate from the internet, it is crucial for security to be deployed in order to protect internal users from viruses and prevent them from misusing resources and altering information.

IBM, which is a multinational organization, aims at offering a simplified, cost-effective, agile and security-rich networking infrastructure. On the other hand, InvenSense is a company that offers its clients system chips with motion-tracking sensors to install on devices such as tablets, smartphones, and remote controls. Both IBM and InvenSense have acknowledged the significance of having a network system that is reliable, safe from threats, and offers fast communication that minimizes errors and boosts productivity.

Scope of the Research

In this third section of the research, the writer will focus on the IBM’s and InvenSense business systems, the manner in which the two companies run their day to day business activities, the network related systems they have incorporated in their business as well as the business communication strategies put in place.

Overview of IBM

International Business Machines Corporations, which is simply known to many, as IBM is a technological and consulting Multinational Corporation, based in the United States of America. IBM is an inventor and seller of both software and hardware elements of a computer and offers consultancy services as well as provides infrastructure hosting for its customers. In addition, IBM offer a vast pool of many other services such as outsourcing, training, technical and maintenance support, just to mention a few.

IBM accounts for about 90 billion in revenue per year. The multinational corporation is composed of five segments, which contribute to its overall productivity and profitability. These segments include Global Financing, Software, Global Technological Services, which happens to be the largest income generator of the company, Global Services and Technology and Systems.

IBM may have started as the founder of the computer and may have enjoyed some monopolistic position for a very short while before other companies emerged with new computer innovations and services. The emergence of desktop and laptop computers, distributing computing, open systems and the World Wide Web, which is empowered by the Internet, are some of the technologies that have rendered the market extremely competitive.

The proprietary standards that were previously held by the founding companies of computers have been cast aside due to easy accessibility of information from open systems and the Internet. This has brought about competition for IBM forcing them to tremendously improve on their networking and communication systems.

IBM Business Systems and Solutions

The company’s business solutions have a collection of Web applications that have been built to run on the J2EE platform that has been provided by IBM WebSphere Application Server. This application provides integrated solutions to meet common business needs that are compatible with the existing server components, applications, and enterprise data. IBM Business Solutions exemplify the significance of integrating e-business solutions, increasing worker productivity, and providing services that any kind of business would find easy and useful to use.

IBM Business Solutions is integrated with IBM WebSphere Application Server, browser based and Java-built applications that are ready to use (SV, 2013). These applications are usually designed to run separately or at other times work together in order to share configuration properties and resources.

IBM is uniquely positioned to meet all the evolving customer demand and requirements. By incorporating its simple to use, agile and cost effective solutions, the company has been able to help in the transformation of storage models. The business systems and modernization has cost-effectively helped to evolve the IT system incrementally thus ensuring a modernized architecture and technology for Smarter Computing.

IBM Communication Strategy

With the growing demand for IT, service quality, and technological advancement, it is necessary to incorporate an infrastructure that can provide agility and handle the handle the needs of the growing business. IBM’s Communications Service Provider Network Infrastructure Services blends access, multiple transport and network services. This is usually coupled with events in real-time networks and dynamic customer information in order to deliver individual-based content and services.

A healthy Unified Communications (UC) solution helps a business to address inefficient collaboration and communication between the employees and their partners. In the long-run, this results in the enhanced customer relationships, improved productivity, and loyalty. IBM Converged Communications Services for UC assessment and strategy leverages the company’s methodologies, time-tested tools, and key capabilities to assist in planning, designing, and transitioning into a cloud-based UC model. This model is designed to support the company’s cost, collaboration, and productivity objectives (CMO, 2007).

In this present world, there are more ways of communicating than they have ever existed before. These methods have continued to multiply and therefore, it is necessary to integrate all communications technologies. These technologies include data, video or voice.  IBM has incorporated all these new form of communication and this has facilitated collaboration, reduced costs, improved productivity, and increased operational flexibility.

The IBM Converged Communications Services has provided a portfolio of integration, consulting, deployment and management services. This has helped in the building of integrated communications and networking environments. This environments help in the reduction of costs by reforming network management support, improves productivity using voice, video and data, and supports a mobile workforce and operations.

Overview of Network and Communication Failures in InvenSense

InvenSense is one of the leading producers of Micro-electromechanical systems (MEMS) in the world with its sensors playing a huge role in the semiconductor market. Its use in smartphones has revolutionalised the technology world with the major improvements it has made over the years with the smartphone camera and GPS on-board smartphones. Different problems had been identified in the communication systems and some network elements in the company that would require changes to improve the company’s overall performance.

Since a proper and efficient business network system mainly involves operational efficiency, customer responsiveness, cost saving and security, these are the main elements that are to be considered by the company (Cisco Systems, Inc., 1992-2007). These are the main issues that need to be addressed to ensure that the network elements are all working to the best interest of the company to improve the company’s business operations.

Solutions to Network System Failures

There are different procedures that can be followed by InvenSense to ensure that the business network runs as efficiently as possible. This is the main element of any successful business since it ensures that there is a smooth flow of ideas and information all around the company. Such flow is significant since it reduces the amount of time needed to respond to a particular issue as well as the normal protocols followed by the company.

Solutions will have to be implemented to avoid such problems and ensure that InvenSense continues to run smoothly and makes profit from the market. The business network will have to address issues such as these to ensure smooth running and proper management of the company.

Operational Efficiency

This means that the network system should be efficient enough to enable all the parties involved to be able to use the system properly and find their desired solution in the shortest time possible. InvenSense therefore has to ensure that its system is flexible enough so that it can be easily modified to suit the needs of any party that may require assistance in a particular field. Increased reliability of the network will also help improve communication among employees and customers.

Communication Strategy
Communication Strategy

Providing the employees will all the necessary information consistently at InvenSense will ensure that there is improved reaction times that are important in achieving effectiveness for the company. This will create competitive advantages over other competitors whose systems may be down or sluggish at times. Therefore having a system that is reliable and easy to access for the employees will enable them to improve productivity since they can access services in the shortest time and serve customer needs in time (Jia & Zhou, 2006).

In the case of InvenSense, it will be able to receive orders from potential customers who may require particular sensors for their companies. If the employees can access the network properly, they will be able to interact with the customers and answer all their queries in the shortest time possible therefore improving their individual performance.

Apart from that, developing a long-term technology plan for the company will enable it cut down on disruptions that may hinder the company’s productivity. Taking note of factors in the network or equipment that will serve for longer periods is the key factor in this solution. Therefore, InvenSense has to map out all the business objectives that it has for both the current term and the future.

This will enable the company to acquire hardware and other solutions that cover these two scenarios. Therefore, the company will be able to plan and acquire the right infrastructure to deal with the long-term goals as well as the short-term ones. This will ensure that there are no disruptions caused by a need to upgrade or get new equipment once the system is already running (Jia & Zhou, 2006).

Cost Containment

InvenSense should also strive to ensure that the network system should be cost effective and not a liability to the company. The network should be in such a way that it is able to provide the essential communication services to the company in the simplest way possible without inflating the operational costs. This means that the network at InvenSense should be able to offer video, data and voice communication through the company, which will simplify the whole operation of the system as well as reduce the huge expenses that may be required to operate a telecommunication system (Cisco Systems, Inc., 1992-2007). Such improvements in the networks will reduce the need for mobility of employees from one department to another as well as save time therefore increasing overall productivity for the company.

Apart from that, it will also enable the company to eliminate technology that may be redundant hence saving costs since only the necessary items will be integrated into the system each with a specific function. Getting less complex hardware will be cost effective since it will be much easier to operate and maintain such a system. This means that system-operating costs increase with the complex nature of the system even though the network may be more capable and cheap to acquire (Lewis, 2006).

Since professionals will be involved to run and operate the system which evolves with time, therefore the cost to run them will increase depending on the type of system that the company will choose to take up. InvenSense therefore has to choose a system is capable but not too complex that it will require more money to operate by hiring more professionals to deal with its operation. Additionally, this means that the company will also have to invest in training its staff to deal with certain problems that may affect the system instead of having to hire a person to come fix a problem once it happens which may be more expensive.

Security Improvement

The security of any network system is very critical for the business to succeed and therefore this needs to be one of the top priorities in InvenSense. Since it is a top IT company in the world that is a leader in sensor production, it is prone to attacks from people that may want the company data to gain illegally from it. Protecting the company data is important since it ensures the safety of the company’s assets as well as the consumer information (Cisco Systems, Inc., 1992-2007). A proper security system should be able to identify any internal and external threats to the company secure customer information as well as detecting and stopping any malware threats to the company’s network system.

Increased use of IT all over the world in businesses to maintain a competitive edge has also led to an increase in threats to these businesses due to cybercrime. InvenSense is no exception to such cyber-attacks and has to implement measures to ensure that its network is safe from all possible intrusions.

Acquiring Transport Layer Security (TLS) in the company will enable it to send and receive messages or data across which in turn will enable confidentiality among the parties and partners involved (Jia & Zhou, 2006). A huge company like InvenSense has a lot of confidential information flowing which cause a disaster if any of the information would leak out. This means that a transport layer security will ensure that all the information flowing through the company system is encrypted and can only be accessed by the party it is intended to after an authentication key is entered.

The TLS protocol is designed in such a way that it is almost impossible to tamper with communication across a network thus greatly improving the networks security. This implemented together with the company own firewalls will be a great advantage to InvenSense since it will have an extra layer of protection to the information that passes through the network system.

Solution to Communication System Failures

As any huge company, InvenSense may experience problems in communication that may be disastrous if not handled properly and lead to massive losses for the company. Since it deals with very sensitive and private information at times, it is important that the means of communication used is very secure and reliable to ensure that the information being sent reaches the intended recipient on time (Lewis, 2006).

The company needs to create a platform for feedback where any parties that have queries can easily be attended to and served. A proper communication system that has been integrated with customer information will help InvenSense to be able to interact with customers instantly thus saving a lot of time and manpower (Cisco Systems, Inc., 1992-2007). Additionally, providing help service options to the customers will also enable customers to have access to the company data and be assisted without necessarily speaking to a customer’s representative.

Since InvenSense deals with a variety of sensor products, having the proper communication will save a lot of time since it serves many customers that includes other huge companies that may have very high demands. Proper communication will ensure that InvenSense understands each customer’s demands and gives the necessary feedback that assures them of the company’s capability. Such a communication system will ensure customer retention that will in turn help the growth and development of the country into a global leader in MEMS.

Analysis of IBM and InvenSense Business Communication and Network Related Systems

Communication in simple terms is when a party, the sender, sends an encoded message to another party, the receiver, who receives it by decoding it. For communication to take place, the sender must have the ability to send the message while the receiver must have the ability to understand it. No business can flourish without communication.

IBM has a deep expertise that has been gained from the deployment of large-scale converged communications solutions and network. This has helped organizations to achieve converged communications solutions that meet the business needs and establishes and platform for growth in the future. The company’s vast knowledge and experience in deploying converged communications solution and networks can assist an organization to reduce implementation costs, save time, and lower the total ownership cost.

InvenSense may experience problems in communication just like any huge company that may be disastrous if not handled properly and lead to massive losses for the company. Since it deals with very sensitive and private information at times, it is important that the means of communication used is very secure and reliable to ensure that the information being sent reaches the intended recipient on time. Therefore, the company needs feedback platform where any parties that have queries can easily be attended to and served. A proper communication system that has been integrated with customer information will help InvenSense to be able to interact with customers instantly thus saving a lot of time and manpower

Conclusion

Communication is probably the most important ingredient needed in the overall success of a business. Transparency, openness and proper channelling of messages from employer to employees, employees to employees and employees to employer will contribute to business sustainability. Hierarchy must be respected when communication systems are being put into place since the senior management gives instructions. Thus, not only does communication ensure the easy flow and effectiveness as well as efficiency of business operations, it also facilitates faster execution of commands and responses.

From the above discussion, it is evident that the IBM Converged Communications Services has provided a portfolio of integration, consulting, deployment, and management services. This has helped in the building of integrated communications and networking environments. This environments help in the reduction of costs by reforming network management support, improves productivity using voice, video and data, and supports a mobile workforce and operations.

On the other hand, InvenSense needs to make a few improvements to both their network systems and communication to ensure that the company’s operations are running to their best. With changes in the business world with new technology coming up each and every day, it is important to move with time and update systems and methods to ensure that the company has a competitive advantage over others in the market.

It is also significant to be updated and aware of new threats to the business that come up with improvements of technology and people that wish to illegally gain from other people’s hard work. These are the key elements that will ensure that such companies such as InvenSense in the IT sector continue to be successful and create more gadgets and tools that make human life easier and interesting.

References

Cisco Systems, Inc., 1992-2007. Network Technology Integration Drives Business Success, s.l.: pp.1-9.

CMO, B.c., 2007. The Importance of Business Communication Strategy Networking. Bayt, 27 November.

Jia, W. & Zhou, W., 2006. Distributed Network Systems: From Concepts to Implementation. New York: Springer Science and Business Media. Pp.46-113.

Lewis, L., 2006. Managing Business and Communication Strategy Networks: Network and Systems Management. New York: Springer Science and Business Media. Pp. 25-53.

SV, G., 2013. The Importance of Business Communication Strategy Networking. CNN, 28 May.

View Communication Strategy Dissertations Here

Business Management Strategies

Business Management Strategies

W H Smith is a company based in the United Kingdom and is one of the leading retail groups that specialize in selling stationary, magazines, books, entertainment products, and other impulse products. Its target market is travelers in places such as airports and train stations in addition to workplaces and hospitals. The company has grown over the years and has managed to open more branches all over Europe and internationally.

Porter’s Five Forces Analysis

The porter’s five forces analysis is mainly used to analyze the competition levels of an industry as well as the growth of strategic business developments. This analysis can be used to determine the overall profitability of a company, which marks a company’s success in its respective industry. The five forces are threat of new entrants, threat of substitute products or services, bargaining power of customers, bargaining power of suppliers, and the intensity of competitive rivalry (Jones & Hill, 2008, p. 45). Threat of new entrants refers to the introduction of new firms or companies into an industry that yields very high profits. Such markets attract new players into the industry that will in turn lead to lower profitability for the existing companies in that industry. Since new entrants will want to tap into the profits of the industry, they will tend to offer their products and services at a cheaper rate to attract more customers. Consequently, this will affect the whole industry, since the new competition will force all the companies in the industry to change their strategies in order to continue making profits (Jones & Hill, 2008, p.46). Therefore, these industries have to have certain barriers to ensure that few companies that enter are performing and the non-performing ones are unable to survive in the industry.

On the other hand, threat of substitute products or services refers to the different alternatives in the market apart from the commonly known products. Existence of such alternatives in a market is more likely to persuade customers to switch to such products or services with regard to their availability and suitability. Customer shift to a competitor’s products or services will mean that, a certain product will be less used at the expense of a new or better substitute (Jones & Hill, 2008, p. 46). The depreciation in the quality or the substandard nature of some products is the main reason for the switching to alternative products in an industry.

Business_Management_Strategies
Business_Management_Strategies

Apart from that, bargaining power of customers is also one of Porter’s five forces. This refers to the power that the customers have over a company on their products and services. This means that if a large group of buyers come together and demand a reduction in prices on particular products, then the company will be forced to make that decision due to customer pressure (Jones & Hill, 2008, p. 46). Such pressure is very high if there are many alternatives in the market in question, resulting in higher buyer power. Customer pressure increases the bargaining power of customers since they can put a company under immense pressure, when it comes to pricing of products.

Bargaining power of suppliers is another of the porter’s five forces. It involves supplier power, when there are few substitutes for raw materials, labor, or even components in a particular industry. Suppliers may possess power over a company if the resources they supply are unique and hard to get. This means that the company will have to heed to the demands of the supplier if they are to receive such resources to continue their production. Suppliers, hence, may be able to charge high prices for their products as well as choose which firms to work with due to supplier’s monopolistic nature (Jones & Hill, 2008, p. 48).

Lastly, intensity of competitive rivalry is the last of the Porter’s five forces. In any industry, the intensity of competition determines the success of the different companies in that particular industry. Firms, therefore, have to engage in practices that ensure that they have a competitive edge over their rivals (Jones & Hill, 2008, p. 49). This means that the industry will be more competitive, if more companies invest in advertising and other innovative ways, in order to attract the highest number of customers in a market, which has very many substitutes.

W H Smith’s Competitive Position

W H Smith is a competitive company, since it has diversified its retail stores and opened up various stores all over the country. In the travel sector for instance, the company was able to record high profits even though passenger numbers were small. This means that the stores in the travel sector of the company were able to sell more even in difficult economic conditions. The introduction of new businesses by the company ensured that the sales in travel grew significantly. Innovative strategies such as the rolling out of self-service tills in airside units led to increased customer numbers as well as reducing the management costs for the company. This made the company able to save on costs and use the funds to improve other facilities enabling increase in customer satisfaction.

With competition in the high street sales on the increase, the company has experienced a hard time in improving the sales in the market. It has, however, put in place measures to ensure that customers can have newer products in the market. These retailers in supermarkets and online platforms will ensure that the company is able to provide services to their customers with ease and at comfort, while undertaking their normal daily activities such as, browsing a computer at home, or doing shopping at a supermarket.

Difficulties in Utilizing the Porter’s Five Forces Analysis in Practice

The porter’s five forces analysis is a good tool that may be utilized by many companies, but may only be important for new companies planning to enter a new market. This analysis provides very few and weak links between the internal and external environments of a company, even though the two go hand in hand. This is because both environments play a role in the competitive forces of the company. Therefore, a company may be incapacitated in identifying the impacts that the relationship may have on the competition in the market. The strengths of certain forces are described by Porter’s model relatively, and may have different interpretations by different companies in the different industries (Meir, 2009, p. 36). Therefore, a company will require more analysis to identify any underlying conditions that may make either the buyer or supplier have more or less power.

Ansoff’s Growth Strategy Matrix

This strategy involves the marketing strategies that a company may use to determine both product and market growth. The four alternatives in marketing strategies include market penetration, product development, market development, and diversification. These strategies can be used to ensure that the company employs the right tactics to stay relevant in a competitive industry as well as maximize its profits (Maria, Grandinetti, & Bernardo, 2012, p. 72).

Firstly, market penetration involves methods that will enable a company to get its products into a market. It should be noted, that this is the lowest risk strategy. This may involve promotion of the product, creation of an extensive distribution process to reach a wider consumer area, and putting attractive pricing to lure more customers into purchasing the company’s products. Coming up with innovative ways of increasing the usage of the product will also, help a company improve its sales in an established market (Maria, Grandinetti, & Bernardo, 2012, p. 72).

Product development on the other hand involves the introduction of newer products or modifying the products to suit the customers’ customized needs. Modifying a product in the existing market by changing its outlook, improving both its quality and performance, will create a more appealing product in the market (Maria, Grandinetti, & Bernardo, 2012, p. 73). This will attract more customers into buying the product, therefore, increasing the company’s sales.

Apart from that, market development is another marketing strategy in the Ansoff matrix. This involves the company venturing into new markets to increase its client base. Opening up different branches at different locations will enable the company to reach new customers in areas that the product was not available. Such new markets require a proper strategy that will enable the product attract more people. Selling through the internet or mail order will make work easier for the company, since they will reach a vast number of customers who can access their products online (Maria, Grandinetti, & Bernardo, 2012, p.75).

Finally, the last strategy is diversification of both the market and the product. This means that the company will be producing a new product that will be sold to a totally new market. This requires a lot of research to ensure that the move leads to success. Since it involves two unknowns, the risks involved are very high and the company will have to assess these risks and understand the consequence of such a decision (Maria, Grandinetti, & Bernardo, 2012, p. 77). A company may decide to diversify into the same industry that is less risky or join another completely different industry that has higher risks. Therefore, the company should have a balance between the risk and the reward to ensure that the company gets the highest rewards from the diversification.

Analyzing W H Smith’s Business Objectives Using Ansoff’s Matrix

Travel in W H Smith focuses on delivering value to shareholders through growth in the different sectors it is involved in. This means that the company aims at market development by looking for new contracts and trialing new formats that will improve customer’s productivity. Apart from that, the company has incorporated a product development strategy, with the introduction of newer products that improve efficiency such as the self-service tills. Such new products increase both customer numbers and the average profits of the company.

The high street plan for the company plays a huge role in not only cutting its costs, but also maintaining its presence in core categories of the market. The company is able to develop the market by continued brand awareness and efficient advertising on television and other forms of media. Additionally, introduction of new products such as the Gadget shop products, which is part of the new gifting ranges, will increase the client base since it aims at reaching more customers.

Difficulties of Utilizing Ansoff’s Model in Practice

The Ansoff’s matrix can only be used sparingly because different companies interpret the matrix with respect to their circumstances. This means that it is impossible for it to be used as the basic standard tool for all companies analyzing their marketing strategies. It requires each company to analyze their products well before deciding on a strategy, in order for it to reduce risks that may lead to its demise. Apart from that, risk management is highly required for any decision in the company that involves the product or market. Since the matrix does not put into account the nature of a company, it is possible for a company to undertake a certain risk that may be disastrous hence the need for extensive research, which the matrix does not produce (Maria, Grandinetti, & Bernardo, 2012, p.79).

PESTEL Analysis for W H Smith

The PESTEL analysis aims at looking at external factors that a company is involved with when undergoing a market research or undertaking strategic analysis. It enables the company to understand its position in the market, its growth or decline and its overall potential. The PESTEL analysis involves different factors, which include political factors, economic factors, social factors, technological factors, environmental factors and legal factors. W H Smith has various external factors that affect its overall performance.

Firstly, political factors influence many businesses in a country. In the United Kingdom, the government allows proper competition by giving fair allocation of opportunities for companies that may wish to indulge in different businesses. W H Smith has benefited from this since it has been able to set up retail stores in different travel points such as airports and train stations without many barriers. The proper infrastructure such as hospitals and airports set up by the government has provided different opportunities for the company and enabled it to expand over various sectors.

Secondly, economic factors also have had an effect on W H Smith as a company. The low inflation rates and economic growth of the U.K. in general has enabled the company to thrive. Even though the economic times have had several changes over the year, the company was able to increase its operational profits by 8% within a year. This increase in the company’s profits under the given circumstances shows the company’s capabilities at such times which show the planning put in place and the strategies to ensure a balance in the economies of scale. The ability of the U.K. to attract visitors in major transport lines also played a huge role in the success of the company over the same period.

Thirdly, the social factors in the country also impacted the company. Since trends in social factors are able to affect demands for certain products, the company was able to adapt to new demands of the customers. New products and services were introduced to various parts of the area that were aimed at serving customers more efficient. Additionally, a growing number of travelers in the country provided the right platform for the company to develop over the years. W H Smith has been able to reach more people through its initiatives which have eventually benefited the company. Use of the Internet has increased exponentially and the company has taken advantage of this by sensitizing the society on the Internet. This has grown its market base significantly and increased sales.

Business_Management_Strategies_Dissertations
Business_Management_Strategies_Dissertations

Moreover, technology also influenced the strategic decisions that the company had to undertake, with the company having to introduce automation in some parts of the retail stores such as the self-service tills. Apart from that, the introduction of e-commerce and mail order enabled the company to increase its online presence, since a huge number of people are always on the internet (Sekhar, 2009, p. 52).

Environmental factors that may affect the number of travelers visiting train stations and airports also affected the company at one point. Apart from that, the products that W H Smith sells to its customers are recyclable. This means that the products are environment friendly and does not in any way harm the environment. Such green products are approved by standardizing bodies hence are fit to be used by the different customers.

Lastly, legal factors are the final element in the PESTEL analysis that looks at the laws that govern the operation of companies. The laws that are in place enable W H Smith to operate within an acceptable range, since the company adheres to all the possible laws, which means that the company is able to monitor its costs, demand for the products they sell, and their overall operations.

Evaluation of W H Smith’s Current Position Using the SAF Model

W H Smith has developed and grown over the year and has been able to open up new branches in addition to the already existing 561 travel units and 612 high street stores. Through these various stores, it has made it possible to employ over 16000 employees who manage the running of these retail stores. Using the SAF model which consists of suitability, acceptability and feasibility we can evaluate the company’s current position.

Suitability in the company’s case can be seen with the strategies that it has put in place to address the different issues that the company in the industry. Furthermore, it has also begun e-commerce projects that will enable customers to see and order their products online and be able to purchase them from the comfort of their homes (Jones & Hill, 2008, p. 54). In addition, the mail order service it has begun will facilitate customers to place orders and then receive the products through the mail delivery process. All these are aimed at cementing the company’s position as a leader in this sector, and enabling it to gain access to more customers, therefore, increasing their market share in the U.K. and worldwide.

With regard to acceptability, the company has been able to manage their risks and returns in such a way that it can gain profits in the different ventures it has taken part in. W H Smith is in a position where it has an advantage over its competitors, since it has put its attention to growth drivers that will allow the expansion of the company. Diversification has also helped the retail stores to tap into new markets and gain a huge client base in this industry, with the development of more stores in both the travel units and the high street stores. All these factors have aided the company to develop significantly, and build its brand image, therefore, creating a huge force in this industry.

Lastly, feasibility in the company’s case refers to the resources that are required to implement the different objectives of the company. Through their development strategies the company is able to cope with the different challenges that it has faced in recent times. A significant number of problems affect the company such as, economic changes that affect the country, as well as competition in high street stores by other companies. The company has put in place measures to counter these problems by introducing innovative ways that aim at improving service delivery, efficiency, and sustainability in the company.

References

Jones, G., & Hill, C. (2008). Essentials of Strategic Management. Cengage Learning.

Maria, E. D., Grandinetti, R., & Bernardo, B. D. (2012). Exploring Knowledge-Intensive

Business Services: Knowledge Management Strategies. Palgrave Macmillan.

Meir, R. (2009). Knowledge Management Strategies for Business Development. IGI Global.

View Business Strategy Dissertations Here

Eating Habits Adult BMI

Health Studies Dissertation Examination of Eating Habits That Affect Adult BMI

The dissertation will determine whether or not there is a close relationship between the identified dependent (i.e. the adult students’ actual BMI level) and independent variables (i.e. the habit of eating in fast food restaurants, adult students’ wealth or disposable income, and heavy marketing activities and advertisements on fast food logo/brand).

The dissertation accurately determine whether or not there a close relationship between the identified dependent (i.e. the adult students’ actual BMI level) and independent variables (i.e. habit of eating in fast food restaurants, the adult students’ disposable income or wealth, and heavy marketing activities and advertisements on fast food logo/brand), a total of 50 adult students will be invited to participate in the actual quantitative research study.

After requiring each of the 50 research participants to complete the research survey questionnaire, the researcher will gather and analyse the gathered data. As such, a regression analysis was performed in this study. Some of the quantitative data was analysed based on multiple regression, R Square (R2), t stat, P-values, and significance F values. Regression analysis result shows no direct relationship between increase in the adult students’ BMI level and factors such as the habit of eating in fast food restaurants, the adult students’ wealth or disposable income, and heavy marketing activities and advertisements on fast food logo or brand.

Adult BMI
Adult BMI

Adult BMI Dissertation Objectives

The main objective of this study is to examine the perception of students with regards to the relationship between the identified dependent and independent variables. In this study, independent variables include habit of eating in fast food restaurants, adult students’ wealth or disposable income, and heavy marketing activities and advertisements on fast food logo or brand whereas dependent variable is the adult students’ actual BMI. Based on the students’ perception, is there a close relationship between the identified dependent and independent variables? As such, this study will focus on testing the following research hypotheses:

  • H1 = There is a relationship between the students’ actual BMI and the adult students’ wealth or disposable income
  • H2 = There is a relationship between the students’ actual BMI and heavy marketing activities and advertisements on fast food logo or brand
  • H3 = There is a relationship between the students’ actual BMI and the habit of eating in fast food restaurants.

Becoming overweight and obese can lead to the development of controllable diseases. Therefore, it is necessary to continuously examine and identify all factors that can contribute the increase in the student’s weight and adult BMI level. The adult students’ increase in adult BMI level is highly dependent on so many factors. Poor eating habits, sedentary lifestyle, and poor socio-economic factors such as low income could increase a person’s risks of becoming obese.

It appears that the coupling between energy intake and energy expenditure is at the heart of the obesity epidemic, both of which are greatly influenced by psycho-social factors and the environment in which we live and work. Currently the evidence points to changes in the level of physical activity and food system, which is producing more processed, affordable, and effectively marketed high-energy food. These changes in my opinion have led to a positive energy balance causing the obesity epidemic. Policies that encourage and promote physical activities and a change towards healthier food are needed to reverse the epidemic.

Dissertation Contents

1 – Introduction
Background on Obesity and BMI
Statement of the Problem
Purpose of the Proposed Investigation
Research Objectives
Research Questions and Hypotheses

2 – Literature Review
General Information about BMI
Significance of Race and Ethnicity in the Accuracy of BMI
Impact of Fast Food on BMI
Other Factors that Can Affect Changes in a Person’s BMI
Summary

3 – Research Methodology
Primary Research Study Design
Data Collection Tools
Sample and Population of Research Participants
Data Analysis
Research Ethics

4 – Research Findings and Discussion
Research Findings
Demographic Profile of Research Respondents
BMI Level
Eating Health and Well-Balanced Food
Lifestyle and Physical Activities
Budget Allocation for Fast Food Restaurants
Common Reasons for Eating in Fast Food Restaurants
Adult Students’ Perception of the Given Statements
Relationship between Dependent and Independent Variables
Discussion

5 – Conclusion and Recommendations
Conclusion
Recommendations for Future Research Study

References

Appendix Section

Adult BMI Relevant Blog Posts

Nursing Dissertation Topics

Basic Cognitive Neuroscience Diseases

Diversity Adaptation Inclusion Nursing Education

View This Dissertation Here

I do hope you enjoyed reading this post on eating habits and how it affects adult BMI. There are many other titles available in the health studies dissertation collection that should be of interest to construction management students and building professionals.

There are many dissertation titles that relate to other aspects of health and nursing such as project management within the NHS, midwifery, nursing techniques and treatment of mental health to name a few. It took a lot of time to write this post and I would be grateful if you could share this post via Facebook and Twitter. Feel free to add your thoughts in the comments section. Thank you.