Nursing as a Profession - 1479 Words

Nursing as a Profession From the dawn of time nursing has existed, in one form or another. Because healthcare varies between cultures, nurses have historically taken on many different roles: a folk healer, a healer with religious ties, and that of a servant (Ellis Hartley, 2012). Because of these various roles, some may not realize, or accept, that nursing has evolved into a much needed profession. This essay will discuss what a profession is, the criteria needed to be present in order to be considered a profession, and the reasons why nursing should be considered a profession. Criteria of a Profession In order to understand why I consider nursing a profession, you must first understand the meaning of the word. There are many†¦show more content†¦Nurses are the go-between of the doctor and the patient, and their main concern is the patient’s well-being. For example, it has been shown that adequate staffing of nurses affects the outcome of patient’s hospitalizations. Dr. Jack Needleman and colleagues found that â€Å"insufficient nurse staffing was related to higher patient mortality rates† (as cited in American Association of Colleges of Nursing (AACN), 2011). This statistic, along with similar findings in several other research studies, proves that nurses do indeed provide an essential service to society. Has a Theoretical Body of Knowledge. The learning of theories and how to apply those theories to practice is the basis of this criterion. This involves being able to identify the problem and which solutions, based on learned theories, may work for that problem (Clarke Winch, 2004). The processes used in this problem identification differ for each occupation. Nurses, who gain their knowledge of theories during their formal schooling, have a process that is unique to the nursing field. It is called the nursing process. This process is â€Å"an interactive, problem-solving process and a systemic and individualized way to achieve the outcomes of nursing care† (Stuart, p. 151, 2009). The nursing process includes assessment of the situation, diagnosis of the problem, planning which of the learned theories will be effective for the problem, implementing the steps of theShow MoreRelatedThe Profession Of The Nursing Profession1829 Words   |  8 PagesThe Nursing Profession A profession as defined has five distinct characteristics that separate it from a job. Those characteristic include; an extended education, a theoretical body of knowledge leading to defined skills and abilities, provision of a specific service, autonomy in decision making and practice, and a code of ethics for practice. Nursing as a profession demonstrates each of these characteristics on all levels. These characteristics are up held by nursing organizations such as ANARead MoreIs Nursing A Profession?1153 Words   |  5 Pages Is Nursing A Profession? Prentella Wilkerson University of Alabama at Birmingham Is Nursing a Profession? A pronounced dispute still stands of whether a job of a nurse can be considered a profession or an occupation. Merriam-Webster s Medical Dictionary defines a profession as a â€Å"calling requiring specialized knowledge and often long and intensive academic preparation† (Profession, 2013). Merriam-Webster s Medical Dictionary defines an occupation as â€Å"a practice preformed with financialRead MoreIs Nursing A Profession?922 Words   |  4 Pages Nursing is a profession that allows you to make a see people at their worst, turn it around, and nurture them become their best. Their main goal is to provide care, comfort, and support to their patients and their loved ones. This job not only changes patient’s lives, but it changes the feel of the community and world around us. Globalization connects with the field of nursing in that it is constantly creating different and better opportunities to mold and strengthen the planet we inhabit. In additionRead MoreThe Nursing P rofession1409 Words   |  6 PagesThe nursing profession is probably one of the most prominent and important sectors of health care in the United States today. According to the Institute of Medicine (2010, p. 1), the profession includes more than 3 million members. With a workforce of such size and strength, it follows that the effects of the nursing profession upon health care should be both significant, evolutionary, and highly beneficial to the population it serves. However, it has been found that a number of barriers preventRead MoreNursing Profession1208 Words   |  5 PagesGCU Accountability of Nursing Professional NRS-430 Marina Reade April 07, 2011 Accountability of Nursing Professional Every health care member is accountable to their Profession ,Public ,Self,Clients,and health care agency.Accountability means they are able to explain the reasons behind their actions. Accountability facilitates self assessment and assume ownership of job role. Porter-O’Grady Malloch(2007) replaced respnsibility with accountability. The word ‘ Responsible ‘Read MoreNursing Professionalism And The Profession Of Nursing1308 Words   |  6 Pages Nursing, at its inception, was a service provided mostly by women. Far from a profession, it was considered a vocation; often a mere extension of the wife/mother role. Nurses were perceived as servants to the physicians with little power or ability to function independently. The predominant male presence in medicine, lack of formal education offered to nurses, and the subservient nature of the work significantly hindered its professionalization. Over time, as educational standards were createdRead MoreNursing as a Profession Essay1020 Words   |  5 Pagesï » ¿ Nursing as a Profession Lisa Renfrow Oklahoma Wesleyan University Nursing as a Profession The question of whether the practice of nursing is considered a profession or an occupation is an ongoing debate, much like the ongoing debate over what defines a profession. Several scholars have outlined criteria for considering an occupation to be a profession. Given a list of scholars and their criteria for what characteristics define a profession, I have chosen the listRead MoreThe Ethics Of The Nursing Profession962 Words   |  4 PagesIn the nursing profession it is important to stay up to date on current happenings in the field. The healthcare profession is fast paced and constantly changing so it is important to stay educated on those changes. Luckily there are many journals, websites, and social media pages that do just that. Since the healthcare field is so fact based it is important that sources of information are trustworthy, reviewed, and factual. Also referred to in the writing world as authoritative. One authoritativeRead MoreThe Perception Of The Nursing Pr ofession944 Words   |  4 Pagesdiscipline, the nursing profession has evolved over time. Nurses, once regarded as housemaids and lower class citizens, now hold positions of authority and stature in our modern society. These changes in the profession are attributed to the many nurse theorists who devoted their lives to the improvement of patient care. Through their theoretical advancements, the public perception of nursing has gone from dismissive to reverential. Today, our culture considers the nursing profession to be one of theRead MoreBullying At The Nursing Profession845 Words   |  4 Pages Bullying in the Nursing Profession Carli Jessop Flathead Valley Community College Bullying is a term that many associate with children and while this has been recognized as a serious issue in schools across the country, such conduct unfortunately does not stop there. It has been said that nurses eat their young and while this may sound particularly extreme, bullying as well as lateral and vertical violence in the nursing profession has been an ongoing and increasingly prevalent issue

Judging Young Goodman Brown By Nathaniel Hawthorne

Emy Gore : 1444769 Professor Sharp English 1033-18 23 September 2013 Judging Young Goodman Brown The short story Young Goodman Brown, by Nathaniel Hawthorne, accurately bestows all aspects of an allegory. According to Merriam Webster, an allegory is a story, poem, or picture that can be interpreted to reveal a hidden meaning, typically a moral or political one. Through this work, Hawthorne is able to depict the apparent hypocrisy in today’s world and especially in religion in America. The story is of a man, Young Goodman Brown, who is highly tempted by the devil himself and in the end caves to the pressure due to his lack of faith and even due to a little curiosity. Brown could not help but wonder what this new world could potentially behold for him; unfortunately, his curiosity didn’t change him for the better, only for the worse. The ceremony and changing opened his eyes and made him see the true colors of those around him. We see how Brown loses faith in the people in his community, his family, and especially in himself. We first see Browns opinion on those arou nd him when he shows up to the ceremony in the woods and thinks that â€Å"It was strange to see that the good shrank not from the wicked, nor were the sinners abashed by the saints.† (Hawthorne 1128). This is when Brown first realizes that some of the people he believes complete saints truly weren’t, but rather were sinners in disguise. It was said that when Brown first came onto the streets after the ceremony, heShow MoreRelated Good and Evil in Hawthornes Young Goodman Brown Essay788 Words   |  4 PagesGood and Evil in Young Goodman Brown In Young Goodman Brown. Nathaniel Hawthorne considers the question of good and evil, suggesting that true evil is judging and condemning others for sin without looking at ones own sinfulness. He examines the idea that sin is part of being human and there is no escape from it. Of the many symbols he uses in this story, each has a profound meaning. They represent good and evil in the constant struggle of a young innocent man whose faith is being testedRead More Nathaniel Hawthornes Young Goodman Browns Apocalypse Essay1006 Words   |  5 PagesNathaniel Hawthornes Young Goodman Browns Apocalypse      Ã‚  Ã‚  Ã‚  Ã‚   Most criticism and reflection of Nathaniel Hawthornes Young Goodman Brown centers on a good versus evil theme. Critics also debate interpretations of the main characters consciousness; is Brown awake or dreaming.   What is certain is that he lives and dies in pain because his belief in his righteousness isolates him from his community.   It is also certain that Hawthornes interpretation of Browns mid-lifeRead More Hawthornes Puritanical Beliefs Revealed in The Scarlett Letter and Young Goodman Brown1739 Words   |  7 PagesHawthornes Puritanical Beliefs Revealed in The Scarlett Letter and Young Goodman Brown When an author depicts a person or group of people in his or her work, the opinion of the writer most often sifts into the descriptions, whether intentionally or unintentionally. Some writers are very guarded regarding their feelings toward any particular subject, while others are very open and happy to share. Nathaniel Hawthorne belongs to the latter group. The purpose of the majority of his literary workRead MoreEssay on Hawthorne To Faulkner: The Evolution Of The Short Story1594 Words   |  7 Pages Hawthorne to Faulkner: The Evolution of the Short Story Nathaniel Hawthorne and William Faulkner’s short stories â€Å"Young Goodman Brown† and â€Å"A Rose for Emily† use a moral to endorse particular ideals or values. Through their characters examination and evaluation of one another, the author’s lesson is brought forth. The authors’ style of preaching morals is reminiscent of the fables of Aesop and the religious parables of the Old and New Testament. The reader is faced with a life lesson after readingRead MoreAnalysis Of Nathaniel Hawthorne s Young Goodman Brown 1471 Words   |  6 Pages29 September 2015 Testing Faith In the allegorical short story Young Goodman Brown, Nathaniel Hawthorne uses suspense and mystery to keep the reader interested. Throughout the story, Hawthorne makes the reader wonder what all the witchcraft, mysticism, and the double-sided lifestyles of the characters really means. Young Goodman Brown may be suspenseful, but the reader also has to look at it from a symbolic point of view. Hawthorne shows that a strong faith can basically make or break a man orRead MoreAnalysis Of Young Goodman Brown By Nathaniel Hawthorne1600 Words   |  7 PagesIn Nathaniel Hawthorne’s short story, â€Å"Young Goodman Brown,† Hawthorne presents the tale of a young man from Salem, Massachusetts during colonial America. One night, Brown accidentally witnesses a witches meeting in the forest where he sees the rest of the town, including his wife Faith, in attendance. This comes as quite a shock to Brown and the next morning but he cannot remember whether or not the scene was real of simply a dream. Regardless, from then on Brown lives his life in opposition toRead MoreCorrupting Society In Hawthornes Young Goodman Brown, By Nathaniel Hawthorne1885 Words   |  8 PagesCorrupting Society In Nathaniel Hawthorne’s short story, â€Å"Young Goodman Brown,† Hawthorne presents the tale of a young man from Salem, Massachusetts during colonial America. One night, Brown accidentally witnesses a witches meeting in the forest where he sees the rest of the town, including his wife Faith, in attendance. This comes as quite a shock to Brown and the next morning, but he cannot remember whether or not the scene was real of simply a dream. Regardless, from then on Brown lives his life inRead MoreThe Influence of Society on the Young Goodman Brown1544 Words   |  7 PagesNathaniel Hawthornes Young Goodman Brown illustrates vividly how society and culture can very much influence a persons sense of identity and belonging, or in the case of Young Goodman Brown the lack thereof. Being a Puritan man in a society that scorned the ways of witches and the devil, Young Goodman Brown grew up with a very pious outlook on life. Yet when it occurs to him to look at life a little bit differently, Young Goodman Brown receives more than he has bargained for. The journey he embarksRead MoreAnalysis Of Nathaniel Hawthorne s Young Goodman Brown 1136 Words   |  5 PagesMajok Lem Tim McNeil English 95s May 24 2016 Faith versus Evil Nathaniel Hawthorne, author of the short story â€Å"Young Goodman Brown†, he was an American writer in the 19th century. He was born in Salem village, and he died at the age of 60. His short story about a man named Young Goodman Brown, who lived in Salem village with his wife Faith. They have been married three months. Mr. Goodman Brown has left his wife for one travel night although his wife does not want him to go. He insists on leavingRead MoreAnalysis Of Speaking The Unspeakable : Hawthornes The Birthmark1434 Words   |  6 PagesHawthorne’s ‘The Birthmark’.† Modern Philology Vol. 4 (May 1983): The University of Chicago Press. Web. 01 Mar. 2011 (-- removed HTML --) Jules Zanger’s critical article: â€Å"Speaking the Unspeakable† (1983) is referencing â€Å"The Birthmark† by Nathaniel Hawthorne. Jules Zanger was depicting the different literally devices by breaking down each piece while questioning the purpose of the theme. He starts off in regards to the imperfections of Georgiana Aylmer’s cheek mark and Mr. Aylmer attempting to remove

The Effects Of Comic Books On Children - 942 Words

Jones realized there is a somewhat innate deep fear rooted in children that would become an overwhelming emotion when exposed to violence in society. Jones saw that comic books could be an avenue to lead children out of this emotion trap. Jones used his son as an example to show how effective this technique really works. â€Å"In the first grade, his friends started climbing a tree at school. But his son was afraid of falling†¦I took my cue from his own fantasies and read him old Tarzan comics, rich in combat and adventure †¦Then he put them aside. He mustarded up the courage and climbed the tree (Jones).† The children relate to obstacles and fears being overcome by their heroes. Children watch how the hero overcame their fear, as a result, children follow the same footsteps to conquer their own challenges. Most of society can agree that being taught violence is morally wrong, but for Jones, that’s simply not the case. Jones found that â€Å"children need violent entertainment in order to explore the inescapable feelings that they ve been taught to deny, and to reintegrate those feelings into a more whole, more complex, more resilient selfhood (Jones).† Jones actually tries to find a solution to this problem which involved an app called Power Play. Power Play helps children improve their self-knowledge through story telling. Jones provides an alternative teaching technique that helps children to excel in their struggle with society’s pressures. Social competition within our societyShow MoreRelatedComic Books Effects on Children Essay1341 Words   |  6 Pagesask which media outlet I’m talking about and that is comic books. Comic b ooks have always received flak when it came to how influential they are to children, with scenes of graphic violence, criminal acts of mischief, and over-bearing sexual exploits. Many parents, schools, and communities have also noticed some of the crazy things that go on in comic books and have banded together to try and ban them because they are in fear that these comic books are poisoning our children’s minds to make them believeRead MoreArgumentative Essay On Comic Books1642 Words   |  7 PagesEver thought how dumb comic books or graphic novels were growing up? Why such avid readers were called (myself included) nerds? Yet were smarter than you? Think back to how geeky their way of speaking was and they touched on such complexities even for a book! Shortly, reasoning will tell you why comic books are the best. Over the years, from the 20th to 21st century, research and documentation has been stacking up to prove that comic books make their readers smarter. Comics make y ou want to readRead MoreThe And The Dark Knight And Shows Like The Walking Dead Comic Book Based Properties1688 Words   |  7 PagesComic books, in todays rise of all that is geek it is hard to avoid hearing about the next comic that is being adapted into a movie or TV show. With films like The Avengers and The Dark Knight and shows like The Walking Dead comic book based properties are taking over most of pop culture today. Yet, despite all the attention on these properties there is still an overwhelmingly popular misconception that comics are â€Å"kids stuff.† Yet, unbeknownst to the overall public in western society comics areRead MoreThe Problem Of Drug Addicts1671 Words   |  7 Pagesthe impact that it has in our society and finally it should be addressed to the audience considered as the next generation, the children. Considering the criteria cited above, I had two ideas a comic book or a videogame; but, in the attempt of minimizing as much as possible the costs of the proposal, without compromising the effectiveness of the same, I chose the comic book. I- Previous Solution Surely, because of the severity of the drug problem, several solutions were extrapolated and implementedRead MoreThe Cartoon The Killing Joke 1376 Words   |  6 Pagesmovie this is from? It is actually from a wildly popular comic book called â€Å"The Killing Joke†. Although appearing to be childish, comic books show many adult themes such as violence, gore, and pornography, thereby making them unsuitable for children. Violence is a common theme seen in many different types of entertainment. We see it all the time in movies, T.V. shows, and video games. However, when there is violence present in comic books they tend to go beyond what we expect. It could vary fromRead MoreHistory Of American Comic Comics Superheroes1191 Words   |  5 PagesHistory of American Comic Book Superheroes. Before they become significant box-office phenomena and debut for TV serious, superheroes were short stories in printed media. Supermen, Batman, Captain America, Wonder Woman †¦were comic books superheroes. The idea of superheroes was long existed. However, as many comic books historians agreed, The Phantom, published in February 17, 1936, is considered to be the first comic book costumed hero. Since then, comic books superheroes were booming. In the mid-1940sRead MoreThe Superhero Effect: Idealism and Stereotypes in Comic Books1577 Words   |  7 Pagesparagons. In a medium such as comic books, however, these standards and perceptions are heavily distorted by the characterizations and settings. Particularly, the superhero genre absorbs the ideals we strive towards and regurgitates them in an extreme and unrealistic manner. The superhero genre is often reflective of societal changes in ideas and morals. These ideals are then molded into misleading representations that influen ce the behaviors of viewers. Comic books absorb elements of our societyRead MoreThe Comic Book MAUS1288 Words   |  5 PagesMAUS Introduction Since the publishing of the comic book MAUS, there has been a broad debate not only from the survivors of the Holocaust but within the Jewish community pertaining to the appropriateness and representational meaning of the Holocaust in the modern literature. Many people who participate in the discussions or read the book have perceived the comic fashioning of the book as trivial, hence making the book appear as mocking, derogatory and comedic. Nevertheless, this is not theRead MoreComic Books And Its Impact On Society1631 Words   |  7 PagesComic books has being one of the most popular segments of art and communication since it was created. During Human History, the comics were adapted to each time events. It is possible to notice not only in the creation of Captain America in the 40’s to support the soldiers in the World War II but also the attack to the World Trade Center Building in 2001. Sexuality issues were also inserted in the comics to debate contemporary subjects to show that comics can change, tell stories of real people andRead MoreThe Cold War Between The United States Of America And The Soviet Union1501 Words   |  7 Pagesinfluence worldwide. Various pieces of propaganda and articles written during the time had largely impacted American popular opinion and had powerful effects on the culture among young men and women of the 1940’s and 1950’s. â€Å"The Red Iceberg† comic book cover, published and presented during the Cold War era, was one use of media that perpetuated the negative effects of Soviet Union political influence while promoting the righteousness of the United States. The visual rhetoric presented in â€Å"The Red Iceberg†

Summary of the Book of Genesis Free Essays

Summary of the book of Genesis In Genesis chapters 1-11, God created the universe and all living things in the span of 7 days. He created Adam and let him reside in the Garden of Eden so they may maintain it. The Garden of Eden has river that flows through it, and splits into four headstreams, Pishon, Gihon, Tigris, and Euphrates. We will write a custom essay sample on Summary of the Book of Genesis or any similar topic only for you Order Now Soon after, God created woman, whom we know as Eve. The fall of man followed as Adam and Eve ate from the tree of the knowledge of good and evil and God banished them from the Garden of Eden. Adam and Eve Gave birth to Abel and Cain, Cain killed his brother Abel and Lived in the land of Nod, East of Eden. Soon the children of Adam and Eve soon bore children of their own, and their children’s children had children of their own, so on and so forth. At each passing generation their life spans become shorter. God decided to destroy all living things but allowed Noah and his family to be saved. He told them to make and Ark and bring seven of every kind of clean animal, 2 of every unclean animal and seven of every kind of bird, so that their lives will be spared from the flood. The ark stopped at Mt. Ararat, and they all stepped out of the ark onto dry land, and Soon after they repopulated the earth. When the people, who all had a common language and vocabulary, started building the tower of Babel, God confused their language and spread them all over the earth. In Genesis chapters 12-25, it now begins the story of Abraham. God’s call of Abram and the covenant with him in which he was promised that his descendants should inherit the land of Canaan, that they should become a great nation and that through them all nations of the earth would be blessed. Abram’s name is changed to Abraham and Ishmael is born to Abraham and Hagar, Sarah’s handmaid. Sodom and Gomorrah was destroyed and the Lord sparing Lot’s life. Abraham deceived Abimelech concerning Sarah, his wife. And Sarah bore a child just as the Lord promised them, and they named him â€Å"Isaac†. God also tested Abraham’s faith by making him offer his only son as a burnt offering to Him. Soon after, Sarah died and they bought the family burial ground from the Hittites, and the betrothal of Isaac and Rebekah. At the end of this section, Abraham’s death is recorded and the generations of Ishmael are given. And the story of Isaac was given and that he has twin sons, Jacob and Esau. In chapters 27-37, the story of Jacob and Esau were written. Jacob leaves home, after receiving his father’s blessing by deceit. It was on this journey that he experienced the vision of the adder at Bethel. Jacob’s family and his return from Haran to Canaan. Chapters 29-33 gives an account of Jacob’s marriages, the birth of most of his children, the shrewd dealings between Laban and Jacob and the departure of Jacob from Haran. After leaving Haran and wrestling with the angel, Jacob came into contact with Esau, but without the conflict which had been feared. And final ly in chapters 34-36 both lineages of Jacob and Esau were recorded. In the last arc of the Book of Genesis, chapters 37-50, the story of Joseph was written. Joseph, the seventeen year old son of Jacob, because of the jealousy of his brothers, is sold into Egypt where, after a series of events, he becomes a ruler of Egypt, ranking just under Pharaoh. Joseph’s brothers come to Egypt to buy food during a time of great famine. After a time, Joseph reveals his identity to his brethren. Joseph insisted that Jacob and his family settle in Egypt. Jacob blessed Joseph’s two sons, Manasseh and Ephraim, and gave his prophecy concerning the twelve tribes. And at the final chapter of the Book of Genesis, was the recorded death of Joseph and Jacob. How to cite Summary of the Book of Genesis, Essay examples

Global Financial Crisis in Retrospect †Free Samples to Samples

Question: Discuss about the Global Financial Crisis in Retrospect. Answer: Introduction: Liquidation can be defined as a situation of winding up of business in which assets are sold to pay off the remaining obligations. Liquidation can take place voluntarily or compulsorily as per the conditions of business (Manganelli, Morano, and Tajani, 2014). The present study is focused on the description of events that led up to liquidation of ABC Learning, HIH Insurance and One.Tel Phone Company. The financial stress of cited companies will be supported by the description of ethics and governance. In liquidation, entity winds up, sold its assets and the profits from sales are given to the creditors or entities having claims on the company. The procedure of liquidations is mandatory if the wind up takes place as the consequence of an order of the court (Lessambo, 2014). Other are considered as voluntary when the owners or shareholders engaged in operating the business choose to end operations. The universal reasons of liquidations are legal problems, insufficient desire, and bankruptcy, between the individuals running the business to be maintaining it as operating. In past few years, several liquidations of multinational firms and strengthen business entities have occurred in Australia. In accordance with the viewpoint of Foreman (2014), court rules stated that liquidations differ all over the world, but these measures classically begun by the business itself on behalf of their creditors or shareholders. The party desires to start the proceeding while making a court filing describing the reason for choosing liquidations and if the request is accepted by the judge, then the firm must end their operations and supervisors and are generally agreed by the court to manage their assets sale (Chow, 2017). Liquidation is not primarily due to financial obligations as it is supported by various other reasons such as breach of ethical and legal aspects, frauds and inappropriate business strategies. Liquidation of ABC Learning Companies suffer from failure primarily because of financial dispensaries. In accordance with the ACCC (Australian competition and consumer commission) representative, ABCs collapse was not because of increasing competition, but it has been due to financial misstatements such as high acquisitions and debts. Also, the failure was the result of financial dispensaries offered by the company (Lewis, 2013). ABC lost its loyalty and reputation among customers and public at the time of financial crisis in 2008. The entire world had evidenced the story behind this collapse. The crises of sub prime lead to self-awareness among various countries regarding the malpractices been used by companies in the market. ABCs financial information gave a severe picture entirely. The balance sheet of company assets side represented intangible assets of 72% to 81%. These intangible assets were inclusive of several operating licenses. Further, it was a big concern for government, and they handled this matter to ASIC by setting up a commission. The commission subjected ASIC failure in this concern to efficiently assess companys operating license (Marks, 2015). ABC asserted a big amount of the licenses which were not even worth in the operating sense of the term. It is because; the high value of operating licence was set in order to draw traders in the marketplace. The committee asked ASIC to make consideration of the real value of the operating license and to determine whether they add any value to the business. The consideration is still in progress, but ASIC announces that the licences were not 'material to the company. The revaluation of operating license was legal in accordance with the accounting standards in June 2005 for the year ended and after that the new standards of accounting will be applied. Under the new standard of AASB 138 "Intangible Assets" enables the intangible assets revaluation only in some situations (Gitman, Juchau and Flanagan, 2015). However, these standards are only applicable when the treatment of accounting creates a materialistic impact. ASIC illustrated that at the point of its investigation, the concerns of financial were not material to the company. The main component in the downfall of ABC was the existence of transactions of related parties. Eddy Grooves was involved in the growth and development of the company. The company was successful in a short term. However, it was stated that Mr Grooves failed to manage the company (Lessons to be learnt from ABC Learning's collapse, 2009). The company didnt follow the framework of business governance rules during the supremacy of Mr Grooves there were various related party transactions. In 2006, a broking firm named Austock consisted significant shares by Grooves while entering in transactions with ABC (Marley and Pedersen, 2015). ABC gave an amount of $27 million to Austock as transactional fees. QMS (Queensland Maintenance Services) was underneath the directorship of Frank Zullo, who was relative (brother-in-law) of Mr Grooves. The company had compensated the loss of $74 million in exchange for their work centre of ABC. Grooves owned the team of Brisbane Bullets Basketball team, and i t was sponsored by ABC. ABC declared that the transactions were not material and related to the company and contained no interest also. However, there was the proof of the weak business measure of the company, and this considerably weakens the confidence of companys investors. Liquidation of HIH insurance The failure of HIH Insurance in March 2001 trembled the Australian business community. HIH was worlds second largest employer and at the hindmost part of a major achievement binge that had observed the companys major purchases of insurance in New Zealand, Argentina. In early 2001, the company was suffering from the unstable financial position and later they suffered the biggest corporate failure in the history of Australia, with a loss of more than $5bn (Damiani, Bourne and Foo, 2015). With the firm ongoing to act purely in order to examine old claims without new business taken to abroad, financial regulators of Australia were placed to identify the clear chain of measures that resulted in HIH collapse. There was a proper collapse in the operational area, and the level of the failure was so high that the charges were taken against the companys key members like Rodney Adler, Ray Williams, William Howard and Geoffrey Cohen (Doyle, 2017). Especially, Rodney Adler was charged on the basis of four particular claim which is fraudulence in the liberty of his duties and purposely distribution of fake information and data. Adler was found guilty of deliberately distributing financial data. However, separate calls were made regarding the queries that the corporate governance systems of HIH were unsuccessful because Adler misuses his powers and position. In a separate claim, Adler was blamed for influencing HIH to make an investment of a $2m loan in Business Thinking Systems (BTS). In this transaction, Adler had an interest in the cited company. Another main weak point that resulted in the failure of HIH was the lack to offer future claim in a proper manner, and other problem raised from this single issue. Covering of future claim is considered to the most significant aspect of any insurance company. However, by the end of the survival of HIH was in a situation in which just a negative shift of 1.7%will be sufficient in leading the company into insolvency.Themost importantreason for this collapse wasmisstatements in changing conditions of the market, which extremely enlarged the liabilities of HIH. These aspects were not compensated by viable strategic planning due to which changingconditions of markets lead to serious damage in the insurance companies, but companies are known about these risks, and they do planning in order to reduce the risks. Furthermore, HIH radically coverage itself was the part to be concerned with the extreme expansion of the company. HIH got holding of several companies in their ending year and was building a chief drive for the global expansion. These expansions was a strong move for business, as it brings increased liabilities and HIH acted on the basis of its belief that liabilities will be compensated to the expansion. The Company appear to have primarily misinterpreted the level by which extra provisions were required to be considered as per changing market conditions. This was the primary mistake made by the company, as if it deals with at the same time it could have been resolved. Namely, HIH board went evident while practising this strategy; it demonstrated that there was downfall of corporate governance at HIH, without real omission applicable to check either the strategy implemented was appropriate or financial sustainable With the collapse of HIH insurance, there were significant changes in regulations made by Australian Securities and Investments Commission (ASIC) for prevention of similar issues (Kehl, 2001). For this aspect, a new set of corporate governance rules has been designed regarding expansion. The company could prevent liquidation if management were more cautious about liabilities while expansion (Betta, 2016). They were in a position to introduce cost cutting programs and ignoring decision taken by Rodney Adler of securing investment on the basis of false statements. Further, they provided a lesson to have effective market research prior to entering any new market to prevent issues related to mismanagement. Liquidation of One.Tel Phone Company The collapse of One-Tel is considered to significant liquidation case in Australia in 2001 as it was fourth largest telecommunication company with a customer base of two million in eight countries. The collision of the company was due to wrong pricing policy, strategic mistakes and unbridled growth. The primary issue with the company was an inappropriate corporate structure which causes ineffective communication (Adams, 2014). Their centralization strategy of promoting Yes man by humiliating managers who were showcasing problems had increased employee turnover. Management of company was too autocratic, and opinions of employees were ignored which had raised the issue of understaffing and consequently customers satisfaction was affected. These issues had wasted technology and created financial issues for business. By considering financial figures of commendable company growth in sales and customers based can be noticed, but same has not been translated into increased profitability. All financial issues primarily arise due to corporate governance issues such as inappropriate managerial authorities; unclear allocation of responsibilities, ineffective internal control and increasing work issues (Debbage and Dickinson, 2013). In One-Tel there was a major breach of corporate governance such as non-compliance of law related to fiduciary duties of directors. For example, Adler contravened directorial duties sec 181, 182 and 183 as loans were raised without considering the interest of shareholders as it was not in good faith. Mark Silberman fail to supervise business activities and misled the board in terms of actual cash flow (Avison and Wilson, 2002). Liquidation of the company shows that it is not sufficient for companies to attain large scale customers until they made a contribution towards profitability of the firm. Further, implementation of highly competitive price strategy merely to gain market share can cause disastrous consequences, and sales revenues must be supported by cash collection strategies else there will be a liquidity crisis. Conclusion By considering the present study, it can be concluded that primary reason of liquidation is not financial liabilities as it is supported by various other reasons such as breach of ethical and legal aspects, frauds and inappropriate business strategies. It is because, financial obligations are a consequence of inappropriate business strategies, contravention of ethical aspect and laws and ineffective corporate governance. To prevent this, laws of Australia has been stricken to ensure corporate governance and protect the interest of stakeholders. Further, companies have mandatory obligations to comply with developed laws else they have to face severe adverse consequences such as penalties and compulsory liquidation. However, the interest of stakeholders and economy will be cushioned by imposing a penalty on individual who is liable for misconduct. The study also shows that for sustainable growth and success it is essential to have effective corporate governance and internal control sys tem to prevent frauds in business. In addition to this, managerial authorities should focus on long term sustainability instead of having short term profits. References Adams, M.A., 2014. Faulty lines in corporate law: issues for insurance policies.Governance Directions,66(8), p.504. Betta, M., 2016. Three Case Studies: Australian HIH, American Enron, and Global Lehman Brothers. InEthicmentality-Ethics in Capitalist Economy, Business, and Society(pp. 79-97). Springer Netherlands. Chow, J.C., 2017. ANALYSIS OF FINANCIAL CREDIT RISK USING MACHINE LEARNING. Damiani, C., Bourne, N. and Foo, M., 2015. The HIH claims support scheme.Economic Round-up, (1), p.37. Debbage, S. and Dickinson, S., 2013. The rationale for the prudential regulation and supervision of insurers. Doyle, M., 2017. Market-based indirect causation after HIH.Australian Resources and Energy Law Journal,35(3), p.205. Foreman, R., 2014. Insolvency: It's a wind-up.Law Society Journal: the official journal of the Law Society of New South Wales,52(1), p.71. Gitman, L.J., Juchau, R. and Flanagan, J., 2015.Principles of managerial finance. Pearson Higher Education AU. Lessambo, F.I., 2014. Corporate Governance, Accounting and Auditing Scandals. InThe International Corporate Governance System(pp. 244-263). Palgrave Macmillan UK. Lewis, G., 2013. Australia's regulatory panopticon.AQ-Australian Quarterly,84(4), p.26. Manganelli, B.E.N.E.D.E.T.T.O., Morano, P.I.E.R.L.U.I.G.I. and Tajani, F.R.A.N.C.E.S.C.O., 2014. Companies in liquidation. a model for the assessment of the value of used machinery.WSEAS Trans. Bus. Econ,11, pp.683-691. Marks, R.E., 2015. Learning Lessons: The Global Financial Crisis in Retrospect. Marley, S. and Pedersen, J., 2015.Accounting for Business: An Introduction. Pearson Higher Education AU. Sirtes, G., Lo Surdo, A. and White, R., 2016. Corporations law and class actions: Court recognises indirect or market-based causation in shareholder claims.LSJ: Law Society of NSW Journal, (23), p.80. Online Avison, D. and Wilson, D., 2002. IT FAILURE AND THE COLLAPSE OF ONE.TEL. [PDF]. Available through https://link.springer.com/content/pdf/10.1007/978-0-387-35604-4_3.pdf. [Accessed on 29th August 2017]. Kehl, D., 2001. HIH Insurance Group Collapse. [Online]. Available through https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/Publications_Archive/archive/hihinsurance. [Accessed on 29th August 2017]. Lessons to be learnt from ABC Learning's collapse. 2009. [Online]. Available through https://www.smh.com.au/business/lessons-to-be-learnt-from-abc-learnings-collapse-20090101-78f8.html. [Accessed on 29th August 2017].

Project Risk and Procurement Management Decision theory

Question: Describe about the Project Risk and Procurement Management for Decision theory. Answer: Introduction: The project risk and procurement management are necessary for managing all the activities which is done for developing a project in IBM. IBM is considering as the software company in this paper that is founded in the United Kingdom. IBM is a well-established company which provides various software solutions and software services. Project risks are identified at the time of planning to implement the project. Project risk is the event which is uncertain and not easy to manage. It is a condition of defect which can be occurred at the point of development of the project. Project procurement is the activities which are being done in a company at the time of the project development. It is a process that is used for acquiring the service and the software solution in a particular company (Stadtler 2015). The first step of the project procurement is planning and purchasing of required software tools. The outsourcing of the software solution takes place in this phase. The objectives of the project are reviewed at the time of planning the procurement for ensuring the resulted output. It is the process used in IBM to acquire the software solutions and the services. Procurement is the term of the management to define the significant part of non-paid expenditure. Procurement Strategy: The procurement strategy of IBM is the term to plan an approach for purchasing the required tools. The aim of procurement strategy of IBM is to achieve the lowest overall costs for developing the software tools. The procurement strategy is referred to the implement the approach for managing the handling the budget and project risks and opportunities at the time of development (Samvedi et al. 2013). It is very important to understand the working requirements to implement an effective procurement strategy. The working requirements must be analyzed all the factors including the objectives of developing projects and objectives of the business. The procurement strategy is used to develop strategy for the growth of IBM. Procurement strategy is used for the identification of the supplier (Mena et al. 2014). Supplier identification: The company must pay attention to which they paid the invoice. It is used to develop the supplier relationship management and the first step of supplier relationship management is to identify the supplier. Supplier Segmentation: The numbers of the suppliers are identified to whom the company has paid the invoice. The process of segmentation of the suppliers helps the organization to find out those suppliers who can contribute to the business strategy (Theodorakopoulos et al. 2015). Figure 1: Model of Procurement Operations (Source: Mena et al. 2014) Supply Chain Management: Supply chain management is the process to identify and manage the required resources or the tools to develop the software. Supply chain management is the process to manage all the needs and to supply all the resources that are required for the development of the software. Supply chain management is the term defining the activities which are being done at any workplace. Supply chain management includes all the activities and the tools of a workplace such as material or the physical goods and the software services as well as the required resources. Supply chain management is the mix-up of the information, software project and services and the tools or materials and the financial condition of a company (Alexander et al. 2014). Supply chain management is the term to define the activities done by management in a company. It is used to manage the flow of software good and the services in any company.IBM use the supply chain management to manage all the software projects. Supply chain management flow can be divided into three parts such as: 1. Product Flow In the product flow, the supply chain of the software service from the supplier to the customer is described. The flow to supply software services is defined in product flow and the supply of the software may be the supplier to customer and may be the customer to the supplier for the improvement (Valds et al. 2015). If, there s an error occurred at execution time so the customer can revert that software for the improvement. This type of flow of the software and the services is known as the product flow. 2. Information flow: The information flow in IBM is the term where the information foe developing the software tools is exchanged between the customer and the supplier or within the organization to communicate with the employees of the organizations. The information flow takes place when the customer places the order for any service or the software. It is the term which is used to update the delivery information and the payment information. 3. Finance Flow: Finance flow is the way to define the debits and credits done in the company. The charges for providing the software services and the software come under the finance flow term. There is two other type of software supply chain management explained such as to plan the applications and to execute the applications. Supply chain management is used for planning to develop the applications. It is used to implement the development strategy of the software project. The development of the applications is planned using the algorithms. An appropriate algorithm is used to find out the best way to complete development of the software (Christopher 2016). The execution of the application is used to track the status of the software development or the software tools and to track the management of the materials and the financial involvement of the supplier and the customer. Supply chain management is the process based on the open data models that are used to support the data sharing within the organization. Supply chain management is the process to support the sharing of the data outside the organization also (Volk et al. 2014). The shared information or the data can be store d in various database systems or the data warehouses or the clouds. Supply chain management is used to increase the potential for the improvement of the software consumption. Supply chain management is used to reduce the cost of the project development and to reduce the risk of the project which may occur at the time of the development. It is also used for implementing the better supply chain of the current tools and the available resources. It is necessary to manage the resources for the future so that the scarcity problem of resources may not occur. Supply chain management is helpful for managing the development of the website or the various web applications which have been developed in any software company or IBM (Bozarth and Handfield 2016). SCM provides some solutions for managing the development of the software. Figure 2: Model of Supply Chain Management (Source: Bozarth and Handfield 2016) Procurement Processes: The procurement process of IBM is the way of purchasing the software tools or software services. It is the process of acquiring the software services and managing the purchase and sell of the software projects and the software services. The procurement process in IBM is used as a bid process to acquire the software services from the outside or to provide the software products to the other organization or the customers (Rita and Krapfel 2015). It acts to acquire and to purchase the software services from an organization. Procure is the term to handle the marginal benefits, price fluctuation and the delivery status and the placed orders as well. E-procurement: E-procurement process of IBM is the process of business to consumer, business to government and business to the business sale and the purchase of the goods and the software projects and the software services through the internet. The value chain of the e-procurement is made up of the electronic information, electronic tendering, electronic auctioning and various electronic activities which are done using the internet (Fernandes and Vieira 2015). The management of the indent includes the workflow involved in the preparations of the software projects tenders. Indent management part of the workflow is optional that is helpful to provide the best indent process for the procurement. E-procurement Capabilities of IBM: The catalog of the products is tailored with much currency and many language supports. There is an option available for the online product customization so that the customer can avail those IBM products which customer needs. There is an option for automated order entry so that the customer can place the order with less number of errors (Phillips 2013). E-procurement supports some platforms in IBM: SAP Oracle Ariba E-Marketplaces Sustainable Procurement: Sustainable procurement is a process of investment and purchasing. Sustainable procurement is a process that is being used in IBM to control the social and environmental impacts of the investment and purchasing process. This process is used by IBM to fulfill the requirements of services and the work utilities (Morozov et al. 2016). This process is used to meet the required resources to the organizations such as software tools and the services. Sustainable procurement is used to gain the profits in IBM by fulfilling the requirement of all the resources and it is also used for generating the value for money in any organization to make the profit. Sustainable procurement can be used by all the organizations to make sure that the purchasing goals of the company are linked to the climate change and the resource efficiency. Importance of the procurementfor global organizations operating in complex environments: The procurement is very important for the success of the global organization. Procurement is important for purchasing the software and for developing the error free software. Procurement is helping the global organizations in such ways that the old manager never imagined. According to the report of The Boston Consulting Group, the importance of the procurement functions is describing. By using the procurement process, any software company such as IBM can implement the strategy to reduce the risk such as the project execution error. Procurement is important for the rapid growth of the companies (Yan et al. 2016). The procurement process is very important for IBM Company Such As IBM increased its growth rapidly and formed a remarkable transformation over last fourteen years. The procurement team of IBM is stationed in various countries. By using the centralized and decentralized process, IBM transformed its procurement. Procurement enables the companies to outsource and offshore their manufacturing operations. The total turnover can be improved by using the functions of procurement. It is helpful to regulate and improve the production of the company and the services provided by the company. The procurement process is very efficient for making the right decision for the cost of the goods. It affects the overall cost carrying out the decision. The total cost of the software projects and the software service decides by using the procurement by many departments of the company. The procurement process is related to the strategic functions or the strategic working to increase the profit of the company. The prices of the tools used for developing the software can be reduced by using the procurement functions and the total cost of developing a project can be reduced. Procurement process enables the company to find out the best resources to develop the software project or any other projects. The procurement process is necessary to reduce the risk of the failure of any project at the time of execution. The output can be maximized by using the procurement functions regarding research within the available funds. By investing the same capital, the resulted output can be improved of the software solution. In the public sector, the funds for investing comes from the public in the form of student fees paid for purchasing any software and from the grants and from the taxes paid by the public. Procurement is necessary for ensuring that the possible value for the money is obtained at the time of commitment of the expenditure. Procurement functions are used to analyze the result of the project that the resulted out is same with the targeted out or it is not same. The procurement process is used in the global organization to reduce the risk of the failure of the project and to meet the user's requirement. Procurement supports the operational requirements of the companies such as to understand the requirements of the business and the strategy to purchase the software services or goods from the right source and to sell the goods to the specific users. Identifying the opportunity and the objectives of the company is necessary. Contribution of the procurement to IBM: The contribution of the procurement functions is very wide in the global organizations. The role of the procurement in IBM is to sustain the software service and the software projects to meet the internal requirements of the organization. The functions of the procurement are helping the organizations to understand and implement the strategy for purchasing the goods and the software services. The procurement process is important to manage the supply chain process of a company such as to identify the opportunities, achieve the objectives and to manage the internal and external operations. Procurement gives the value to the managers of the company to evaluate and select the supplier to supply the software projects and the software services. The procurement process the purchasing of the tools which is required for developing the software projects. The review of the software specifications is done under the procurement functions. The sourcing teams increased by the procurement function an d the total turnover can also be increased by using the procurement functions (Ferri et al. 2014). Procurement function allows the organizations to take advantages of the discounts and the warranties given to the customers. The procurement allows IBM to negotiate with the local vendors to take the advantages of the discount on the software solutions and services. In 1990s early, IBM was the decentralized organization and the end user' review was very negative for IBM. There was the lack of the sourcing expertise. The process of IBM was very inconsistent and the paper intensive. The technology used in IM was very not high technologies and there was a lack of the basic information. A procurement function contributes the organization in many ways such as to manage all the process well. Now, IBM is one of the top- most IT company. Procurement functions are very helpful for IBM to establish a reputation among the competitive market and to be established in the global market. Contribution Chart of Procurement functions to the global market: Business Metrics Early 1990s Current Report Savings / Competitiveness Unknown Topmost competitor for every IT company Maverick Buying 30 - 40% Increased Satisfactory Audits 55% 99.9% Client Satisfaction 40% 100% P.O. Processing Cycle-Time 30 days Less than a week Contract Cycle-Time Length 6 - 12 months 40 (+) pages Depends on clients requirement (Source: Ferri et al. 2014) Competitive advantages of the Procurement management functions: Procurement management functions enable IBM organizations to gain various competitive advantages. Procurement management helps IBM to develop the strong procurement capabilities using procurement transformation. A procurement management function enables IBM to drive a high-value strategic approach in the global environment. An innovation process is focused on leveraging the procurement capability and synergy. A procurement management function enables IBM to follow the CSCO agenda is used to manage the supply chain, risk and the globalization. Procurement management functions are all about doing the right purchasing works to provide competitive advantages to an organization (Monczka et al. 2015). In 1990s IBM was not highly valued by the top business but in today era, IBM is the well-established company. Procurement management functions enable IBM to handle all the activities very well. Literature review for the project risk for IBM: A literature review is designed for the examining the potential to develop the useful and the error free project. When the software developer is developing a project and the developer is not able to achieve the targeted output then there is the high probability of the risk occurrence. There may be some uncertain or unexpected variation that affects the quality of the project. The project risk management in IT includes tow processes that are risk evaluation before developing the project and managing the risk at the time of the development. The focus of this report is to manage the risk at the development time of the project (Kern et al. 2012). In a study of 56 decision support system, there are four implementation strategies suggested by Alter to manage the project risk. Those four strategies are following as division of the project activities to the responsible and qualified person, to keep the simple solution and the solution should base on satisfactory output and the last is that the developed project should meet the user's requirement. Literature review of the Procurement Management for IBM: Procurement management is the way to manage all the purchasing and selling process of IBM. The literature review of the procurement management for IBM is divided into three parts. In the first section, the dimension of IBM responsibility is introduced. This section shows the various environmental management system and methods. The second section is used to define the supply chain management process of IBM that concentrated on various procurement functions (Yang et al. 2015). The third section of the literature review is the mixed strategy of the first and second part. The third part of the literature is used to transfer the environmental issues into the various phases of procurement accounts. Supply Risk: Supply risk is a process to define the chances of incidents and the chances of the project failure. Supply risk is used to define the risk associated with the inbound supply. Supply risk is the term used in any IT company to identify the risk which can occur at the time of project development. Supply risk can be managed by using the supply chain management (Hoffmann et al. 2013). Conclusion: Project procurement in IBM is independent activity that is carried out at the time of project execution. It is a systematic process to identify and procure the activities done at the development time of a project. Project procurement is the function for the project manager and project procurement is very necessary for IBM or all the organizations to manage the activities and to earn the profit. Project procurement functions help IBM to be established in the global markets (Costantino et al. 2015). The procurement and the supply chain management are the processes used in the various organizations to manage all the activities done in an organization. In short, it can be said that the procurement and the supply chain management is the way to handle the project risk to make the project successful and to increase the value of the company in the global market. Reference List: Alexander, A., Walker, H. and Naim, M., 2014. Decision theory in sustainable supply chain management: a literature review.Supply Chain Management: An International Journal,19(5/6), pp.504-522. 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