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Benefits and detractors of credit risk


The objective of this research is to examine the control of credit risk threat in financial institutions. Credit risk control in financial institutions starts with the organization of sound lending principles and an efficient structure for handling threats (Jorion, 1997). Guidelines, industry-specific requirements and recommendations, together with risk focus boundaries are designed under the guidance of risk control committees and departments (Bluhm, Overbeck & Wagner, 2016).

Credit risk, also known as counterparty threat is the possibility of loss due to a debtor’s non-repayment of a loan or other history of credits (either the principal or interest (coupon) or even both). Also, credit risk threat is most simply defined as the potential that a financial loan client or counterparty won’t succeed to meet their responsibilities with respect to agreed terms.

In most financial institutions, financial loans are the biggest and most obvious source of credit rating threat. However, other sources of credit risk exist throughout other sections and products of a bank. They consist of actions in the financial and trading books, and those both on and off the balance sheet. Banks are progressively experiencing credit risk threat or counterparty threat in various financial instruments they offer other than financial loans. These consist of bankers’ acceptances, interbank dealings, trade financing, forex trading dealings, economical futures trading, trades, ties, stocks, options and the agreement of transactions.

Credit risk research (finance risk research, loan default rate analysis) and credit risk control are important to banks which provide economical loans to businesses and individuals. Credit risk can occur for various reasons: bank mortgages (or home loans), automobile purchase economical situation, credit card buys, installment purchases, and so on. Credit loans and trading facilities are situations that have the danger of leading to losses due to defaults. To know the danger level of credit users, credit providers normally collect large amount of information on debtors. Mathematical techniques can be used to analyze or determine threat stages involved in credits, economic situations, and economical loans, thus standard threat stages. While banks have faced prolems over the years for a multitude of factors, the major cause of serious banking problems continues to be proportional to lax credit standards for debtors and counterparties, poor portfolio threat control, lack of attention to changes in economic factors (interest prices, inflation prices, etc.)

In modern times, the flow of credit in global marketplaces has slowed from a glacial pace to a virtual standstill and credit marketplaces threaten to stay that way despite immense amounts of cash being pumped into various economies by their government authorities and central banks around the world. Credit risk is a problem faced by economical institutions all over the entire world and the question mostly asked is “what will it take for financial institutions to regain enough confidence in the economic climate to get credit score marketplaces moving again?”


Both policymakers and writers have placed significant fault for the Panic of 2008 – the international economic trouble that achieved full strength in that year – on over-the-counter (“OTC”) derivatives (Gerding, 2009). In turn, legal and policy reactions to the problems, such as the Dodd-Frank Act, have presented many new limitations on these particular economical equipments. Among other things, the Dodd-Frank Act prevents future government relief of certain organizations that trade in derivatives, requires the main cleaning of many derivatives, and allows government authorities to set new security specifications for types that are excused from those main cleaning specifications (Gerding, 2009).

Yet, a research of both the role of types in the economic problems and the new rules regulating derivatives, must avoid artwork with too wide concepts. Several misunderstandings endanger to mix up both the most serious threats resulting from derivatives and the regulating reaction. A certain varieties of derivatives – especially credit score types – cause particular concerns because of their ability to increase make use of throughout the economic system. Credit derivatives  are a form of mixture, whose value is based on the money risk of another firm or economical instrument (Omarova, 2009) . However, the full economic consequences of the higher make use of from credit score types are often themselves not fully fleshed out. Many commentators have focused on how improved make use of, whether arising from credit score types or otherwise, magnifies the frailty of banking organizations. To be sure, excessively utilized banking organizations represent an important concern.

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Moreover, by linking one standard bank to another, credit score derivatives can increase counterparty threat, or the threat of one party to economical transaction defaulting on its obligations. The web created by banking organizations entering into complex credit score derivatives with one another in series raises the specter of utilized organizations falling like dominoes (Huang & Huang, 2012). The potential incidents of failing banks and other economical firms represents one form of system threat. It was this scenario that apparently animated the extraordinary federal bailout of the insurance giant AIG, which had underwritten hundreds of billions of dollars in credit score derivatives that proved assures to other large banking organizations. The emerging failure of the firm left a myriad of other banking organizations with enormous exposure (Posner, 2009).

Yet this potential domino effect of counterparty risk is but one side of the coin of the consequences of credit score derivatives and their ability to lead to leverage. What the above research, however briefly summarized, fails to capture are the macroeconomic results of credit score derivatives. Writers need to aim to move beyond the research into the counterparty risk of derivatives to explore these macroeconomic results. By allowing banking organizations – those organizations that borrow to lend – to enhance make use of, credit score derivatives can operate to boost the overall amount of assets in markets. This increase in assets can be thought of as helping the overall supply of money in a market, which can have a number of significant economic effects (Posner, 2009). By improving leverage and assets, credit score derivatives can fuel rises in resource costs and even bubbles. Rising resource costs can then mask mistakes in pricing credit score derivatives and in assessing the risk of make use of in the economical state. Furthermore, the use of credit score derivatives by banking institutions can contribute to a cycle of leveraging and deleveraging in the economy.

Advantages of credit risk

Many types of credit rating threats exist, which sometimes are known as in specific terminology. Any improvement in costs associated with a client not paying as decided can be loosely classified as credit rating threat. For example, even if credit cards customer does end up not paying his bill, if the lender has to make selection calls or resort to a selection agency, this increment on price is a version of credit risk. More specifically, “default risk” is the danger that the celebration does not and cannot pay as decided (over and above a simple increment in selection cost) and is sometimes generally known as “counter-party threat.” When the client is a government, credit rating threat is often generally known as “sovereign threat.”

Companies, government authorities and all types of lenders take part in credit ranking research to determine to what level they face credit ranking risk associated with their investment strategies. In with a weight of the pros and cons for making a certain type of investment, firms utilize in-house applications to recommend on reducing and preventing threat (or shifting it elsewhere) or use third party help, like analyzing ranking agencies’ estimates of credit reliability from companies like Standard & Poor’s, Moody’s, Fitch Scores and others. After banks using their models and the advice of others to position customers according to the threat, they apply this knowledge to reduce credit ranking threat.

Creditors use a variety of means to lessen and control credit score threat. One way lenders decrease credit score threat is by using “risk-based pricing,” in which lenders charge higher rates to debtors with more perceived credit score threat. Another way is with “agreements,” whereby lenders apply stipulations to credit, such as debtors must periodically report on their finances, or such that debtors must repay the financing in full after certain events (like changes in the customer’s debt-to-equity ratio or other financial debt ratios). Another method is diversification, which can decrease credit score threat to lenders as well as a diversified client pool is less likely to standard simultaneously, leaving the creditor without hope of recovery. Besides these, many companies utilize credit score insurance or credit score derivatives, such as “credit standard swaps,” in an attempt to transfer threat to other companies.

==> Top 5 of The Best Accounting and Finance Textbooks That Everyone Must Read


In this report we have been able to define credit risk that is faced by financial institutions. These are threats whereby the bank clients can either default in the financial obligations to the bank or the bank having to incur additional costs so as to recover from the client. Credit derivatives have also been looked at. Their effect on interest rates has also been expounded on. Credit risk has also its own advantages. Financial institutions that embrace it and put in place strict strategies to contain it will be prosperous.


Bluhm, C., Overbeck, L., & Wagner, C. (2016). Introduction to credit risk modeling. Crc Press.

Gerding, E. F. (2009). Deregulation pas de deux: Dual regulatory classes of financial institutions and the path to financial crisis in Sweden and the United States. NEXUS, 15, 135.


Huang, J. Z., & Huang, M. (2012). How much of the corporate-treasury yield spread is due to credit risk?. Review of Asset Pricing Studies, 2(2), 153-202.


Jorion, P. (1997). Value at risk (pp. 1-4). McGraw-Hill, New York


Omarova, S. T. (2009). The Quiet Metamorphosis: How Derivatives Changed the’Business of Banking’. University Miami Law Review, 63, 1041.

Posner, R. A. (2009). A failure of capitalism: The crisis of’08 and the descent into depression. Harvard University Press


Performance Management system

Growth and development analysis of a human being

It has been written previously that one is born with their traits. Writers have also indicated that traits are passed from one generation to another. I however believe this to be untrue. There are those traits that one is born with and those that one learns as they grow up.

We cannot take for granted the interactions one has with other human beings and nature. This has a way of changing us. The way we think and believe is highly contributed by the people we interact with and our backgrounds. In this paper we will discuss how I grew up to procrastinate and also a perfectionist. I believe I grew into this.

I push myself and others to do a perfect task and at the same time do the hard tasks the last minute.

Procrastination is evading the performance of a job which needs to be achieved. It is doing the more enjoyable tasks first, or doing those tasks that are less urgent as a substitute to more vital ones. This means that one puts off the difficult tasks first. Everyone has been accused of procrastinating at one point or another. However, more than 20 % of the population is said to procrastinate frequently. Procrastination can be defined as their way of life.

Performance management his highly done, in line with the goals and objectives of the organisation while at the same time ensuring that the strengths and weaknesses of employees have been established.  Meeting business goals and objectives is the essential reason for there being any organisation.

For this to be achieved there needs to be periodical measurements of the progress towards achieving these goals and objectives. The goals and objectives of the organisation need to have been communicated to all employees so that the company can soldier on as one team.  After this communication has been done, the achievement of these objectives needs to be measured appraised and relevant actions taken from time to time. The performance management process is part of the entire business since its inception till the day that it closes business.

Procrastination is said to reflect our struggle with self-discipline and control. It also shows our inability to predict our feelings for the next day. To critic this statement and belief I would say that procrastinators are good at making choices and prefer lesser demanding tasks as compared to the difficult tasks. Critics can also be quoted saying that procrastinators claim that they achieve better results when under pressure. More often than not that’s the way procrastinators qualify tasks and then work towards achieving them.

Personally, I have in many occasions preferred to avoid negative emotions so as to delay stressful tasks. So as to achieve more with limited I prefer doing the difficult tasks under pressure. This has enabled me to save time over the years.

Psychologists have cited such abehavior as a way of dealing with anxiety that is associated with finishing a task. Anxiety can get you to start working on a task either early or late (Steel, 2010). The focus should therefore be more of impulsiveness. Anxiety can only cause you to late on a task if it is impulsive.




==> Accounting Issues Raised After Financial Analysis


Steel, P. (2010). The procrastination equation: How to stop putting things off and start getting stuff done. Random House Canada.



Company evaluation

Mission and Vision Evaluation

Remember to search for a mission and vision statement then evaluate them (running the mission statement through the mission-statement components.  If you cannot find either or both, so note in this report section, and write one for the company.

This part Includes a:

  • Vision Statement
  • Mission Statement
  • List Mission Statement Evaluation Components that are satisfied
  • Rationale for the components included as well as excluded.

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Begin with a concise company profile followed by 5-10 company milestones.  Synthesize the company’s uniqueness and identity.  For example, a fun, employee-centered culture or low-cost, no-frills strategy uniquely identifies Southwest Airlines.

External Assessment

Insert your completed EFE Matrix.  Discuss the high score factors and interpret the overall score for your reader.

Your final paper will include:

·         An External Factor Evaluation (EFE) Matrix .


o    Why is this environmental factor key?

o    Why does the factor carry this much weight?

o    Why you rated the factor as you did?

·         How should management interpret the total weighted score?

How to do an External Assessment

After reading the case, first scan the environment. Use the following steps:

1.    List key external factors (opportunities and threats). These factors apply to all firms in the industry, not just this company. Any firm could potentially take advantage of an opportunity or be challenged by a threat because these factors are in the external environment. Include a total of 10-20 factors. Be as specific as possible.

2.    Assign a weight to each factor that ranges from 0.0 (not important) to 1.0 (very important). The weight indicates the relative importance of that factor to being successful in the industry. The sum the weights of all factors (for both opportunities and threats combined) must equal 1.0.

3.    This is the step at which the company (revlon) enters the picture. Assign a rating between 1 and 4 to each factor to indicate how effectively the firm’s current strategies respond to the factor, where 4=the response is superior, 3=the response is above average,2=the response is average, and 1=the response is poor. Ratings are based on effectiveness of the firm’s (revlon.) strategies. Ratings are company-based, whereas the weights in Step 2 are industry-based. Both threats and opportunities can receive a 1, 2, 3, or 4.

4.    Multiply each factor’s weight by its rating to determine a weighted score.

5.    Sum the weighted scores for each variable to determine the total weighted score for the organization(Revlon)

Internal Assessment

Insert your completed IFE Matrix.  Discuss the high score factors and interpret the overall score for your reader.  Use financial ratios for internal factors too, if applicable. (For example, if the company has a low inventory turnover ratio, this could be a weakness in the IFE Matrix.) See the link below under “Appendix” to help you preliminarily examine the financial ratios.

==> Read on the advantages of debt

SWOT Analysis

Summarize the key strengths, weaknesses, opportunities and threats.  Also, consider how well your company is managing both environments. This section serves as a conclusion to Case 1. Simply summarize the key strengths, weaknesses, opportunities, and threats that were prominent in your EFE and IFE matrices. This is not a SWOT Matrix, which is a matching technique. Matching techniques (e.g., the SWOT Matrix) are part of Case 2. 




Accounting Issues Raised After Financial Analysis

Dear Sir/Madam,

RE: Accounting Issues –  Year Ending 30th June 2016.

This is in reply to your email sent on 18th April 2016 in regard to accounting issues we had previously discussed over the phone. Below is our feedback on all the issues that you had raised:

  1. In regards to the issue of the court decision to reward damages to your client held on 26th March 2016 we would advise that you set aside funds amounting to $1 million in your general reserves account for use upon the verdict expected on 30th September 2016. Below are the journal entries to record this transaction. The same also needs to reflect on the statement of financial position.
PROFIT and LOSS A/C 1,000,000

==> Top 5 of The Best Accounting and Finance Textbooks

  1. In the case of Ipad sales we would advise that you treat the sales as debtors less the discounted amount. This is to reflect in the financial reports. You also said that the total amount owed is $ 250,000. This is to treated as accounts receivables less the discounted amount. Below are the journal entries to be recorded in your books.
Account receivables            232,500.00
Discount allowed               17,500.00
Stock        250,000.00
TOTAL            250,000.00        250,000.00


Plant A/c
 Cash      76,000.00
 Accumulated depreciation      25,000.00
 Plant      85,000.00
 Gain on sale of plant      16,000.00
   101,000.00    101,000.00


Your adjusted statements are as below.


A statement of cash flow is prepared to show cash flow from operation and cash flow activities. This report shows changes in financial positions leading from operational activities, investing activities and financial activities. This information can then be used by an analyst to make a conclusion.

A statement of cash flow also assists in making cash forecasts. This is then used in internal management to determine management policies especially those touching in finances. The report is also credited for resulting in cash planning.

Through the preparation of cash flow statements, a business can compare the performance of projects. By comparing the actual cash flows against expected cash flow, a business can know how the project is fairing. An income statement measures a company`s performance financially eg by expenses, revenue, profits or losses over a specified period of time. This therefore means that both financial reports have their importance.



AASB, A. S. (2004). Financial Instruments: Disclosure and Presentation.Disclosure51, 52.


Bushman, R. M., & Smith, A. J. (2001). Financial accounting information and corporate governance. Journal of accounting and Economics32(1), 237-333.


Lev, B., & Zarowin, P. (1999). The Boundaries of Financial Reporting and How to Extend Them (Digest Summary). Journal of Accounting research,37(2), 353-385.


Yours Faithfully




Producer and Consumer Surplus with Price Floors


Suppose that the Gondwanaland Chairman of Production who sets the governmental price floor for gosum berries in an effort to assist the gosum berry producers to have a higher income, set the price floor at $70 per barrel. These berries are a food staple of the Gondwanalandians and contributes directly to their health and long life (average lifespan of 150+ active years).

In that particular year the amount of gosum berries produced at the $70 price floor was 700 barrels per month. To support the price of gosum berries, the Chairman of Production’s Office had to purchase 400 barrels per month.  The accompanying diagram shows supply and demand curves illustrating the market for Gondwanaland gosum berries.


  1. In the absence of a price floor, the maximum price that a few of the consumers are willing to pay up to $100 per barrel of gosum berries. The market equilibrium (E) price is $50 per barrel. How much consumer surplus is created, when there is no price floor? Show your calculations.

Consumer surplus is defined as the area below the demand curve but above the market price(Sun, Delucchi, Lin & Ogden,  2014) In our case the consumer surplus is represented by the area between price of $50 and $100 against quantity of 500.

Consumer surplus        = ½ (50*500)

= 50,000

==>  Top 5 Accounting Textbooks to Improve your skills


  1. How much producer surplus when there is no price floor?

Producer surplus is the area below the price curve but above the supply curve. (Sun, Delucchi, Lin & Ogden, 2014)

Producer surplus         = ½ (50*500)


  1. What is the total surplus when there is no price floor? Show your calculations.


Total surplus    = 50,000 +50,000

= 100,000


  1. d) After the price floor is instituted, the legal minimum price that can be charged by suppliers is $70 per barrel. The maximum price that a few of the consumers are still willing to pay is $100 per barrel of gosum berries. With the price floor at $70 per barrel, consumers buy 300 barrels of gosum berries per month. How much consumer surplus is created with the price floor?

Consumer surplus after the price floor            = ½ (30*300)

= 4,500

How much producer surplus is created with the price floor? Show your calculations.

Producer surplus after price floor       = ½ (70*700)

= 24,500

  1. e) The Chairman of Production’s Office buys any barrels of gosum berries that the producers are not able to sell. With the price floor, the producers sell 300 barrels per month to consumers, but the producers, at this high price floor, produce 700 barrels per month. How much money does the Chairman of Production’s Office spend on buying up surplus gosum berries? Show your calculations.

= 700 barrels  – 300 barrels

= 400 barrels

= 400*70

= 28,000


  1. f) The Emperor of Gondwanaland must collect taxes from the people to pay for the purchases of surplus gosum berries by the Chairman of Production’s Office. As a result, total surplus (producer plus consumer) is reduced by the amount the Chairman of Production’s Office spent on buying surplus gosum berries. Using your answers for parts d, e, and f, what is the total surplus when there is a price floor? Show your calculations.

Total surplus    = 24500 + 4500

= 29000

  1. g) How does this compare to the total surplus without a price floor from part c?

The price floor has reduced the total surplus in the market.



Sun, Y., Delucchi, M. A., Lin, C. Y. C., & Ogden, J. M. (2014). The producer surplus associated with gasoline fuel use in the United States. Working paper, University of California at Davis.


Implementing and Evaluating the Future at Galaxy Toys, Inc.

Management class due Saturday 12/16/2017 See attached document Needs to be a grade of 93% or better

Assignment 3: Implementing and Evaluating the Future at Galaxy Toys, Inc. (Week 8)



Continuing with the saga of Galaxy Toys, Inc., the third assignment covers the last three functions of the P-O-L-C, Organizing, Leading and Controlling.  Students will look at the production floor of Galaxy Toys, Inc. through the lens of the organizing function, create an organizational chart, and assess the decision-making authority associated with the organizational structure.  Students will then assess change, discuss motivation from a leadership perspective, and delve into the control function by looking and projecting specifications, interpreting data, and assessing corrective measures.

In completing this assignment, students will demonstrate an understanding of the major content areas of the course and use critical thinking and writing skills.



Outcome Met by Completing This Assignment:

  • integrate management theories and principles into management practices
  • organize human, physical, and financial resources for the effective and efficient attainment of organization goals
  • demonstrate leadership skills by communicating a shared vision, motivating and empowering others, and creating a culture of ethical decision-making and innovation
  • develop measures and assess outcomes against plans and standards to improve organizational effectiveness
  • identify the essential characteristics of decision making and indicate the range and types of decisions a manager makes

NOTE:  All submitted work is to be your original work. You may not use any work from another student, the Internet or an online clearinghouse.  You are expected to understand the Academic Dishonesty and Plagiarism Policy, and know that it is your responsibility to learn about instructor and general academic expectations with regard to proper citation of sources as specified in the APA Publication Manual, 6th Ed. (Students are held accountable for in-text citations and an associated reference list only). 


Step 1:  Preparation for the Assignment



Step 2:  How to Set Up the Paper


Create a Word or Rich Text Format (RTF) document that is double-spaced, 12-point font.  The final product will be between 8-10 pages in length excluding the title page and reference page and appendix.  Write clearly and concisely.


Use the following format:


  • Create a title page with title, your name, the course, the instructor’s name and date;
  • Introduction
  • Part One
  • Part Two
  • Part Three


Step 3:  Create the introductory paragraph.

The introductory paragraph is the first paragraph of the paper but is typically written after writing the body of the paper (Questions students responded to above).  View this website to learn how to write an introductory paragraph:  http://www.writing.ucsb.edu/faculty/donelan/intro.html


Part One

Step 4:  Organizing

Now, that the major short term production goals and objectives have been determined, for Project MMTJE1 it is time for implementation of the plan.  The process starts with the production manager, Itza Yu.  Yu has been tasked with the job of organizing a plan for implementing the production goals.  This plan is part of the organizing function.  The production managers of each plant will execute Itza Yu’s organization scheme.  Doing so requires managers to organize the people, resources, and capital to begin production in a way that will implement the short-term production goals in the most cost efficient, quality oriented, and timely manner as possible.  The project is designed to have Itza Yu create an organizational plan for him and the other branch managers to follow.

  • Explain the role of a manager in the organizing phase of the POLC.  Be sure to explain in detail howthe manager takes the goals and objectives set out in the planning stage and establishes the organization of resources that will complete the goals.


Step 5:  Organizing People, Physical Resources and Money

Assume the Role of Itza Yu.  Carefully read and review each area.

Money: The budget for each production department at Galaxy is $650,000 per year. This is an increase over last year of $300,000 to accommodate the new production costs of MMTJE1.  Salaries of existing personnel and physical resources are currently running effectively under budget by $10,000.Yu does not want to touch this cushion.

People: Current positions on the plant floor are filled. Turnover is infrequent. Yu anticipates that the following new personnel will need to be hired:  Four trained print operators with computer expertise per shift ($40,000 salary each) and one new IT person ($65,000 salary) to liaise with the IT department software and workers on the floor.  Yu also anticipates that training for backup personnel for existing staff ($25,000 cost) is likely but is not sure at this point if more education than current personnel have will be required.

Physical Resources: Existing: Two conveyor lines with 100 foot clearance for printers and forklift, pallets and people to easily work with the product, 4 compatible computers (between the 4 branches), and upgraded printers at approximately $1500 per computer. Needed: Four printers ($6100 each including software and 14 hours of training for each branch), 2 additional computers ($6000 for both), printer material for the creation of the toy and packaging, service contract for the computer (years material is estimated at costing $40,000   and prototype material costs estimated at $4,000.


Step 6:  Organizing People, Physical Resources and Money

Yu must make initial notes before finalizing his plans for production.  First, he must prioritize the objectives so that the work can flow easily. Yu has decided that the following four objectives are the most important.

Short Term Objectives:
·         1.5 million Toys will begin production by January 2018.
      ·    Each plant must produce 375,000 toys by May 31, 2018.
      ·    Prototype toy trials will be completed and approved by QC by October 31, 2017.
      ·    Shipment to customers will begin June 2018.


Bearing in mind the research material above, Yu must organize the three areas: physical, monetary, and human resources in concert to complete the tasks.  In one page, answer the following questions to create Yu’s notes for his first Branch Manager’s meeting. Yu hopes that this will give the other branch managers some preliminary idea of how the project will operate.  

  • Look at the short-term objectives identified above.  Which objective of the four listed must be accomplished first?  Why?  Prioritize the remaining objectives.
  • For each objective, use the above research by Yu to identify at least five (5) tasks that must be completed to accomplish each objective (at least 20 in total).



Part Two

Step 7:   Leading Motivation

During production, older line staff and machine workers began to see the speed and accuracy with which the 3D printers make the MMJTE1 toys.  An obvious concern began to surface among the workers, “Will I still have a job next year?”   Morale of plant workers began to suffer.  Itza Yu knows that this concern must be addressed and morale needs to be improved.  Yu also knows that the business must innovate to keep growing. The workers concern is a real one.


Acting as Joyce Barnhart, what advice should she give to Yu.

  • In discussing the advice, first identify the reasons for the morale problem, explaining why and how motivation relates to change.  Be sure to address change and the worker’s reaction to implementing change. 
  • Discuss the actual ideas and the specific ways Yu should take to motivate his existing employees in an effort that will build morale and keep production levels on track for the current contracts and the new project.


Part Three

Step 8:   Control:

Read critically and analyze the following scenario:

The following chart displays the results of the first year’s production of MMTJE1.  The table was created from data supplied by the company’s entire production department managed by Keith as a means of controlling production output.  It will be used by the VP in his evaluation of areas of improvement, change, or success to processes used by the production department in the production of MMTJE1.  The chart describes the standard goal (identified as standard) set by the department and the result each branch obtained.  A comparison of the standard to the results allows the reader to form conclusions about the success or failure of the production department to meet the goals envisioned by the company. It also allows the reader to recognize patterns from the data from which conclusions can be drawn as to the relationship between elements (e.g. cost expended vs time expended; those who spent more time had a higher cost).

Answer the following required elements making sure that the facts of the scenario and the course readings support the reasoning of the answers provided.

 Measurable Factors Standard Toledo Dayton White Plains Huntsville Juarez
Cost 5.56 5.67 5.87 5.45 5.52 5.01
Time 2.36 2.32 2.46 2.31 2.32 2.69
Quality Control Problem Ratio (per 500 units) 1 2.5 4 1.5 1.75 8.75
Training Time (per hour) 30 35 38 45 48 25
Shipping Problems/Damage (per 10,000 units) 1 0.333 0.222 0.133 0.178 0.4
3D Problems (per 10,000 units) 0.2 0.25 0.286 0.111 0.1 0.4
Total Number of Pieces Produced per year 375,000 435,000 455,000 550,000 525,000 378,000

Step 9:  Standard Specifications

Yu compares the standard specifications data set from the chart with the results for each of the five branches.  Yu has to interpret the results.

  • Interpret the one-year data production results for the MMJTE1 found in the chart above.
  • Draw conclusions from the data.  What does the data tell Yu about the production of the new toy?  Examine each standard and explain the results that Yu conclude.  Make sure to detail the areas that need improvement as well as those positive conclusions that the data suggests.


Step 10:  Corrective Action

  • Define what “corrective action” means to the manager in the control function of the POLC.
  • Do you suggest Yu and his fellow managers take, if any, corrective action for this report?  Be sure to discuss all the options a manager can take in addition to corrective action.

Step 11:  Long-Term Planning

Read critically and analyze the following scenario:

The next meeting of the long-term planning team for Galaxy Toys is scheduled for next week. All the VPs will be there.  Everyone must give a report about the success of the “Moon Mission Jupiter’s Europa 1” toy roll out and the success or failure of the long-term goals and objectives.

Keith video conferences with his branch managers once the production results were released. The data looked good to Keith but he wanted to get additional “human” feedback on the data.  The managers seemed to all talk at once.  All the managers felt that the project was well worth the effort.  They saw great potential for production of all the products.   It appears that several managers felt that training on the 3D printer was the biggest problem.  Back up trained personnel in Huntsville and capable-trained personnel in Mexico was a real problem.  There was a lack of skilled IT people in these areas. The Mexico manager, Hernando Gonzalez, said that they lost their trained personnel to a software company almost from the start and had difficulties finding replacements.  The company that supplied the 3D printers provided initial training but follow up training thereafter proved a problem when original staff was lost.  Gonzalez explained that there was a serious shortage of skilled IT personnel in Juarez.  Consequently, finding qualified workers and keeping people without paying more than the budget permitted was a major problem.  It took Gonzalez four months to train four of his workers to do the job.  Thus, both the production and the IT departments lost money.  However, Gonzalez said that once they got started the workers caught up quickly so he saw tremendous potential for the future.

Step 12:  Prepare Three Recommendations for Keith to Take to the Long-Term Planning Meeting.

  • Explain the relationship between the control function and long-term planning
  • Use the conclusions drawn from the table in Step 8 as well as Keith’s notes from the meeting (noted above) with the branch managers on the production results to identify at least three recommendations that have potential concern for the long-term goals of the company.
  • Explain why and how each of the recommendations chosen would affect the future long-term strategic planning of Galaxy. Be sure to make sure the recommendations have long-term implications rather than solving project issues.



Up to 7 pages


Notes from last assignment 2 grade 77.5%

You provided a good reason for goals and objectives but did not select correct goals and objective.

A summary paragraph restates the main topics of the paper.  Make sure to leave a reader with a sense that the paper is complete.










Nursing according to me is one of the noblest careers that are existent at the moment. Nursing helps people when they are at their most need. Through nurses, other workers within the medical industry are able to be facilitated to work and perform their duties accordingly. The patients also benefit from the work of nurses by having a conducive environment as they recover from the illness that they are suffering from. It is through nurses that hospitals become habitable and a place where indeed patients can recover from their ailments.
It is also important to note that not all nurses act according to the expectation. This has led to the set-up of certain conduct codes by the National Health Service (NHS), scholars have also come up with the 6 Cs of nursing to try and define how nurses should behave during work and after work. Nurses deal with clients, patients in this case who are vulnerable and weak to abuse. It is therefore important that they are aware of what is expected of them and a code that they all must abide by.

In the course of my nursing training and experience I have encountered experiences where the nurse in charge has totally contravened all the laid down codes by NHS and nursing professionals. There is also this occasion where I met a nurse who was utterly professional in his work and from this experience I learned a lot. It became clear to me that it is actually possible for one to deliver good, quality services to their patients while at the same time observing the laid down code of ethics and professionalism (Woods, 2005). This occurred to me when I was in my placement when studying. I was apportioned the hepatobiliary and upper Gastrointestinal Surgery wards. My main tasks included removing wound staples and making dressing changes. The placement took three months and it is during this period that I got to learn most of what I know now. During this period I worked with an experienced nurse who is my mentor now and who has helped me heavily in my career journey. I owe my success unto him. In this reflective report I will discuss some of the lessons I learnt from him and how he applied professionalism in his work.

Reflective Model
The Driscoll reflective model will be applied in this paper to clarify on some of my experiences and lessons learned from it. The model was developed by John Driscoll where he matched 3 questions as part of the experiential learning cycle (Bryan, 2010). He even added trigger questions that once used will complete the learning cycle. One of the reasons that this model was chosen is due to the simplicity of the model. The stem questions are easily remembered able and contain just three frameworks which are conclusive in the learning cycle.
Reflection can be defined as the process where one witnesses their own experiences and haves a closer look at these experiences. Rolfe, Freshwater & Jasper, (2001) made it clear that the learning process involves doing and then later on realizing what we have learned from the action. Reflecting is more than just thoughtful practice but is that form of practice that relooks at professional conduct with the interest of learning something from it. This helps practitioners with the advantage of continuous learning, growth, and development just by practice, (Jarvis, 1992). This is the reason why I feel that this exercise will be very helpful to me and my career as it will help cement what I learned from this experience. The application of the Driscoll reflective model will make this even easier and more fun as I go down the memory lane.

What of the reflective experience
In accordance with the Driscoll reflective model, it is crucial, to begin with the actual experience. This involves a narration of the events that one remembers in their experience. While one cannot account for all events on the occasion it is important that the writer gives as many details as possible. This is important in ensuring that the reader will be able to see how the events are related to the actual lessons learned.
As part of my training, I was expected to attend a placement session where I would learn while practicing what I have learned in class. It is not enough to be in class and not be able to practice what one has learned. This makes the placement session a very important part of the education system. It is during this process that I was able to meet one of the most professional and outstanding nurses in my life.

During the three months that I was attached to the local hospital, I had duties in the hepatobiliary and upper Gastrointestinal Surgery wards where I would be placed. Being my first time charged with such responsibilities it was not an easy experience (Gastmans, 2002). My tasks involved dressing wounds and removing wound staples. As one can tell this was a tough experience. The kind of pain that the clients I was dealing with were going through was unbearable making me pity them even more. It was not understandable that some nurses would be rude and lack empathy for such clients who are in this deep pain. During my period I was required to work under the supervision of Mr. T. This is anonymized to seal the identity of the nurse for their job security.

When I was first introduced to Mr. T my first impression on him was that I was going to have a rough time. He was silent and reserved in his words. When the hospital administrator introduced me to Mr. T all he had to say to me was asked whether I had worked before. Once I told him that I had not worked before I thought he would be interested to know more about me. However, to my shock, he did not ask anything else. He just welcomed me to the facility and told me to have a happy learning period. After that, we departed from each other as the administrator took me for a tour of the hospital. Once the administrator was done with the tour he asked me to go home and come the following morning.
On my first day after the introduction, I arrived early to work. Surprisingly I met that Mr. T had already arrived. After the usual morning greetings, Mr. T passed me a schedule for when he would be on duty for the next week. Since I was working with him it meant that this schedule was also mine. He was to work 2-night shifts that week and I was excited to be working with him.

After we had worked with him for several months my impression on him had totally changed. I had come to know that Mr. T had soft spots and that he was one of the most reasonable persons I was to ever meet. He was an introvert and therefore the few words. I got to learn that the few words that he said meant a lot and that he thought through an idea before spitting it out. It was rare to catch him saying anything that he was not sure about. This was not just something that he did when interacting with me and other staffs but also with patients. Some patients found him to be weird that he would go silent when asked a question only to give an answer seconds later. Some actually trusted him more as they knew that he was telling them was something he had thought of.

Most of the patients we were dealing with had burns or had been involved in accidents and therefore it called utmost care when dealing with them. Most of them the actual problem was not more of the wounds or injuries but rather the trauma that they had experienced. This meant that one would need to psychologically deal with them in a respectable manner that would not infringe more harm on their already delicate brains.

One of the events that are still in my mind was one night when we were on night shift. Mr. T informed me that there would be many patients arriving and that we needed to be prepared. There had been a fire and there were many victims. All nurses not on duty were also called to come and assist. While most people were in a panic mode, Mr. T was calm as usual. To date, I have never understood how he is able to be calm in such moments. Due to his calmness, we were able to serve many clients, wrapping medicine and bandages. The clients would also be calm when being attended by Mr. T and not worry much as he didn’t look worried himself.
So what of the reflective experience

While working as a nurse there is the various code of conduct and constitutions that one is supposed to follow. These include the NHS constitution and values together with the widely debated 6Cs of nursing. Through these laid down, codes nurses are able to be held accountable for their own words and actions. Remember the patients that nurses deal with are vulnerable and mostly those admitted in hospitals. This means that such patients can easily be manipulated and therefore the need for guidance on the nurse’s conduct. These codes are not only meant to help the patient but also the nurse. Matters of conduct are highly debatable as there are many grey areas that can lead to conflicts. It is therefore important that there is a guiding principle that both parties can refer to when there is a conflict.

NHS constitution
The NHS constitution is developed on the basis that NHS belongs to the England citizens (Constitution, 2012. This, therefore, means that it is the duty of every NHS employee to improve the health and the wellbeing of every citizen including those that are physically and mentally fine (Constitution, 2012). NHS staff are expected to help citizens recover from illness whenever they fall ill and this to go on until the end of their lives.

In accordance with the NHS constitution, Mr. T observed all the principles laid down by the constitution in his daily working life. One of the principles is to provide comprehensive service to everybody (Choices, 2013). During the three months, I did not observe Mr. T discriminate any patient nor favor any of his patients. All patients were treated equally and given any service that they needed and were available (Hollis, 2012). In every day of our partnership, Mr. T endeavored to provide the highest possible standards of excellence and professionalism. He was always kind to patients and treated them with the utmost respect possible. He not only focused on the patient recovery but also on his experience during his recovery period. In everything that Mr. T did was directed towards his patients. He wanted them to have all that they needed making it crucial for them to recover. I would see that he would be highly affected whenever there was a situation that he could not help. This is in accordance with the 4th principle of the NHS constitution that requires that the patient is at the heart of everything that is done by NHS.

One of the greatest credit that I give to Mr. T is how he accepted me as part of his team and inner circle. This is despite the fact that I was inexperienced and lacked the knowledge. I was then to learn from him most of the things that I know today. It was from him that I was able to learn the ins and outs of a wound dressing and how to treat patients with humility and empathy. He was able to see me for who I am and treat me with respect while at the same time ensuring that I was learning something from him. He was able to work across the organization with other parts of the local community including students like me. Through his services, the NHS can be able to give taxpayer’s value for money if majority of the nurses were to act like him (Stephenson, 2014).

During our time together Mr. T was able to instill some sense of accountability in me. He liked to say that one should not be accountable to the system or to the boss but rather to himself. That`s the reason why he arrived to work one hour before the stipulated time. This is due to the fact that he had set his own arrival time to work which was one hour before his shift begins. He would then hold himself accountable for this arrival time. This would ensure that he was well prepared for his shift and that he was not in conflict with his superiors for lateness. This is just one of the things that he had set for himself. Any target given by the hospital, Mr. T had his own target which was much higher than the one set.

NHS Values
One does not need to go through the laid down values of the NHS, all they need to do is look at how Mr. T does his tasks. He is a clear definition of what the drafters of the values envisaged by the members of staff of NHS. The values expect employees to work together in helping the patients (Miller and Bird, 2014). In all that Mr. T did it was to the benefit of the patients. This included even the books he was reading. He was very attracted to the topic of showing empathy and would read many articles on how to show empathy and how to tell when someone is giving fake empathy. This was all meant for improving his customer experience services.

The other values include Respect, dignity, commitment, Compassion, Improving lives and everyone counts. All these values have one thing in common. They are calling upon the staffs to treat people equally and the same. While being compassionate one could find himself only showing compassion to just the people he cares about or people of his color. During the three months placement, we served people from all walks of life. Mr. T was compassionate and empathetic to all patients. There was not a day that he forgot or was late in administering medicine to his patients. Due to the pain that these clients were suffering from it was crucial that they are given painkillers at the respective timelines. Failure to do so would mean that the patients would suffer much.

6 Cs of Nursing
As a trained nurse Mr. T was able to depict the 6Cs of nursing in actions as an NHS staff. These include care, compassion, communication, courage, commitment and competent (Clarke, 2014a). A good situation where he showed courage was the night that there were a fire downtown and many victims. Despite the horrifying scenes, he was able to be calm and serve patients at his best. One of the hardest C to implement is that of communication (Nevins, Hawes, and Wren, 2016). Mr. T was able to constantly communicate with his patients at times delivering some of the hardest news. In a sense of style not with anyone else Mr. T was able to deliver this news without necessarily demoralizing the patient. The mental situation is crucial to the recovery of the patient (Clarke, 2014b). This led to most of the nurses asking Mr. T to deliver news to their patients on their behalf which he did without being reluctant to assist. This made him very popular and likable amongst his colleagues which is something I admired.

Now what section of the reflection
Due to the encounter with Mr. T, one thing changed inside me. During classes, I always wondered how one person was to be able to meet the provisions of all these codes and still perform their duties. This perception that there were just too many codes, constitutions and moral judgments that stood in line with the provision of nursing services has been totally changed. I now believe that an individual can actually provide quality services while at the same time meeting the laid down codes of ethics and observing the NHS constitution.
One of the lessons learned from Mr. T was on the matter of punctuality. It is during my time with him that I was able to learn how punctuality impacts on the performance of an individual. He taught me that once one gets punctuality right all the other aspects of the nursing job fall in place. Before meeting Mr. T I was always late in everything I did. Procrastination was also a major challenge. I would find myself doing tasks the last moments though I had had enough time to prepare. This would affect my performance in class as well. This was due to the fact that most of my papers would be hurriedly done leading to poor grades. This has however changed since I met Mr. T. I am now able to do tasks way before deadline and when I fail it is due to other reasons and not hurriedly doing tasks.

Another lesson learned from Mr. T was on the importance of communication. Mr. T taught me that one of the most underrated tasks of a nurse is communicating with the patient. He mentioned that he could attribute hi communication skills to the few numbers of patients that he has lost to death as compared to his peers. He said that through communicating with empathy, compassion and caring tone he was able to give patients hope and the will to fight for their lives (Watterson, 2013). He also mentioned that due to the paid that the patients were undergoing he was able to reduce it just by his words.

Undressing and removing wound staples is a difficult task to carry out and especially when one is dealing with patients e.g. children and the elderly. One can be really tormented by the scenes and the pity on the patients. Mr. T taught me to separate work from my daily lives. That`s why he advised me never to see a client without being dressed in the nursing uniform. He said that once one had won the white uniform, he had become a nurse and not a father, brother or kin. This meant that they were now at work which would end once you remove the uniform. He explained that setting one’s psychology like that meant that one would be able to forget about work once they get home. He said that using this tactic would also bring about commitment when working as one knew this would come to an end soon. Meeting Mr. T was one of my best learning moments and I will always treasure the three months we worked together. We became friends and to date, he has been my mentor teaching me on how to constantly improve in my career.

In this paper, we have seen how my three months placement session ended up being one of the most adventurous and educative section of my life. I met with Mr. T who is my mentor to date. Mr. T was a nurse with whom I was allocated to work under. I was expected to be his assistant and learn from him during his working hours. We were, therefore, working hand in hand during the entire period. It is from Mr. T that I learned that it was possible for one to serve clients while at the same time observing the many codes and guidelines that nurses are expected to observe. These include the NHS constitution, NHS values, 6 Cs of nursing and the NMC code of ethics. While these may see a lot to handle and still achieve professionalism, Mr. T proved that it was actually possible.

Through my placement session, I was not only taught on how to dress wounds and also remove wound staples. I was also taught on the soft side of working as a nurse. One might be an expert in removing wound staples and dressing them, but they will, however, fail if they are not able to show care, compassion and empathy to their patients (Muls, et.al. 2015). Mr. T showed all these and this could be seen from the nice reviews that he would receive from patients once they felt better. Mr. T was also highly ethical in his dealing always respecting patients as they were the boss and he was their servant. It was nice to see that most of the patients knew his name by the time they left the wards. While there were many nurses they would only remember Mr. T and maybe a few other nurses. This showed that Mr. T had touched them which is important in the field of nursing. It not all about the provision of services but also what you make others feel. Punctuality was also cored to Mr. T and this showed the level of discipline and commitment he had to his job. He taught me that for one to be successful in their job they need to be punctual in all they do as this is the first step towards success.

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