Project Risks Monitoring and Control Plan

Project Risks Monitoring and Control Plan

Introduction

Project risk monitoring and control is an important aspect of the project since it helps in evaluating the effectiveness of the project and the possibility of reducing risks. It also provides tools and techniques that are used to keep track of the risks associated with the project that had been identified. The risk management plan, the risk register, approved change requests, and work performance information are useful inputs (Karen, 2009). The tools and techniques that will be used to monitor and control risks for this project include the risk response audits, periodic risk reviews and technical performance measurement.

The risk response audit identified the measures of responding to the risks identified in the risk discovery phase. The risks were to be mitigated, avoided, transferred, exploited, shared, enhanced or accepted. These approaches were chosen subject to the nature, severity and probability of occurrence of the risk. During the risk monitoring and control, emphasis will be put on ascertaining the extent to which these risks are being responded to (Roberts, 2011). This phase will collect information from the individuals who were assigned responsibilities of responding to the risks. The input will be compared against the predetermined approaches to risk response.

The technical performance measurement will utilize trend analysis and variance. Given the fact that the schedule and the cost of the project had been established, the variance and trend analysis will provide a measure of drawing comparisons. In the event that there are significant deviations from the initial cost and schedule, a new risk identification and response strategy will be formulated.

The periodic risk reviews will yield reserve analysis. The reviews will give a representation of the resource usage, cost and schedule of the project (Karen, 2009). This output is compared against the available reserves in the reserve analysis. This will help the project manager determine whether the available resources are sufficient, surplus, or in short supply. This monitoring tool will help the project manager in adjusting their project and avoid uncertainties that might result from unidentified risks. The status meetings will provide a platform for collection of vital monitoring information.

The results of the monitoring and control will lead to updating of the risk register. The probability of occurrence, severity, rank, and response to the risks will be adjusted to reflect the new variances identified in the monitoring phase. Corrective actions will also be formulated for workaround plans with unplanned responses due to non-identification of the emerging risks. These workaround plans will also be updated into the risk registry.The risk registry elements that will be updated include the risk identification checklist, risk database, and the risk response plan.

The RASI Matrix will be essential because it will ensure better understanding of the project roles and enhance communication. Assigning job responsibility also plays a vital part in ensuring job satisfaction since the employees with be empowered with authority. However, the main function of the matrix is to ensure seamless monitoring of the project. This is enables through the reduced uncertainty associated with multiple reporting and clarified accountability and responsibility throughout the project.

The matrix will explain the role of the stakeholders and team members in the project. ‘R’ identifies the individuals charged with monitoring the project, ‘A’ are the approvers of the project while ‘S’ and ‘I’ offer project support and need to be informed respectively (Roberts, 2011). The responsible individual(s) are the ones who actually to the practical part of the project. This composes of the members of the ICT Department who will install the new structures in the office and the Procurement Department that is tasked with acquiring the needed resources.

The approvers are the teal leaders who are responsible for making key decisions on the project’s process. They are essentially where the buck stops. In this particular project, the approvers will include the project heads assigned from the ICT Department and the Procurement Department. The support will include all the parties within and outside the organization whose role in the project includes consultation. They will play a support role in ensuring that there is a seamless transition from one task to the other. Their role is usually limited to before the project kicks off. Those that only need to be informed include those not directly involved in the project but play an integral role in all matters of the organization. The executive management is in this group that will constantly be informed of the project’s requirements, challenges and progress.

Creating the RASI chart, the qualifications of each individual was considered. The role that each project participant was allocated was commensurate to their level of qualification. This was seen as essential in improving the quality of the monitoring and control phase. The main participants of the new office project include the project manager, the financial project controller, and the project team.

The following table gives the RASI chart for the proposed office project. The activities of the project have been classified into four phases; the initial phases, plan phase, execute phase, control phase, and the termination phase. The functional roles are divided into leadership, team members, sub-teams and external participants. The matrix outlines the roles each function is involved in the project. Others will perform multiple activities in certain project activities

Leadership

Team Members

Sub-Teams

External Participants

 

Functional Role

Project Activity

Executive Management

ICT Department

Procuring Department

Advisory Committee

Project Manager

ICT Leader

Procurement Leader

Project Team Member

Designer

Administrative Support

Business Analyst

Consultant

PMO

Software Co.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Initial Phase

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Submission of project request

A/C

R/A

 R/A

C

R/A

A/S

A/S

 

 

 

 

 

 

 

Project Management Office (PMO) Review

 

 

 

 

R

 

 

 

 

 

 

 

R/A

 

Project Management Office Output

I

S

 S

 

R/A

A/S

A/S

 

 

 

S

R

R/A

S

Approval

I

A/S

A/S

I

R/A

S

S

 

 

 

S

S

S

 

Plan Phase

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Project requirement definition

S

S

 R

 

R/A

S

S

 

 

 

S

S

 

R

Project Schedule

I

I

S

I

R/A

S

S

S

S

S

S

S

I

I

Alternative Project Plan

I

I

I

I

R/A

 

 

I

I

I

I

S

I

I/S

Execute Phase

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deliverables

S/I

S/I

S/I

S/I

 

R/A

R/A

R/A

R/A

 

 

A/S

 

R

Status Report

I

I

I

I

R/A

R/A

R/A

 

 

 

 

S

I

I

Control Phase

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change Management

 

S

S

S

R

A

A

A

 

 

 

S

I

 

Termination Phase

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Account for experiences

S

S

S

S

R/A

S

S

S

S

S

S

S

S

 

Project Termination Report

I

I

I

I

R/A

I

I

I

I

I

I

 

I

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The chart shows that the project manager has a lot of R’s and A’s. In essences, the project manager is responsible for all the activities in the project. This is justified given the fact that they need to be familiar with all the requirements, processes, demands, challenges, and the output of each phase of the project. They are also largely responsible for most of the approval of the business. Given the fact that they are always close to the project, it is only wise that they be bestowed the powers to authorize its functions. This is also important since it helps avoid time lag associated with bureaucratic approval procedures (Roberts, 2011). The team members will also not get mixed up with multiple reporting since they can directly report to the project manager. The active involvement of the project manager is an indication that they are concerned with an array of activities of the project.

The execute phase is the place where the implementation of the project actually occurs. In this stage, the team members are the parties that are mainly involved. This is reflected in the fact that the other project participants are involved with support or being informed rather that monitoring the project and giving approval. The designer is part of the sub-team that is has the powers to monitor and approve in this phase. Their input is usually important as it gives the team members a representation of the architecture of the project. The members of the team need to get approval from the designer/developer before they proceed with completing the project.

Control for each Identified Risk

Risk

Response

Control

Scheduling Risk

 Avoidance

Variance and trend analysis will be carried out to confirm if the outcome is consistent with the plan. In the event that the deviation is huge, the new risks will be updated in the registry.

Resource Risk

Transfer 

Reserve analysis will be carried out periodically to ensure that the remaining risks can be covered with the remaining resources

Executive Support Risk

 Exploit

There will be frequent status meeting to inform the management of the progress to ensure that they remain in support of the project

Scope Risk

Avoid 

Variance and trend analysis will be carried out to confirm if the outcome is consistent with the plan. In the event that the deviation is huge, the new risks will be updated in the registry.

Design Risk

 Share

The support of the developers (designers) will be consulted throughout the project to ensure consistency

Technical Risk

Transfer

Technical performance measurements will be used to ascertain if the project is on course

Integration Risks

Mitigate

The project team and the external participants will regularly give their input on the desirability of the project and the anticipated response by the staff.

Communication Risks

Enhance 

There will be a structured way of ensuring that changes on the updated registry are communicated. The status meetings will be useful in communicating the information.

Risk Management Flowchart

Ongoing consultation throughout all phases

Step V

Monitoring

and

Control

Step I

Context Establishment

Step II

Risk Identification

Step III

Risk Analysis

Step IV

Risk Response

The flow chart illustrates the five important phases that were used to give this project some substance. The first step illustrates the idea development of the project. This step involved accessing the need for the new office and the resources that will be associated with the project. It also involved creating relationships and creating the project scope and schedule. This was followed by risk identification. The second phase used all the components of context establishment to determine all the possible risks associated with the project. These risks were then analyzed based on the severity and probability of occurrence. The positive and negative risks were also identified through the analysis (Karen, 2009, p.7-9). They were then ranked to help with decision making on the response. Mitigation, avoidance, transferring, sharing, enhancement and acceptance were the responses chosen for the project risks. The final step involves creating ways of monitoring and evaluating how the project is meeting the risk objectives and creating relevant adjustments to the risk registry. Throughout all the steps, it is vital to maintain consultation.

References

Karen, Y.L. (2009) Effective Risk Management, Measurement, Monitoring & Control. Project Management Focus Presentation. Retrieved from http://www.pmibaltimore.org/pmi/events/attachments/Effective-Risk_23-Feb-09_presentation_Columbia.pdf

Roberts, P. (2011). Effective Project Management. London, UK: Kogan Page.

Statistical analysis of the Relationship between Body Fat and Weight

Statistical analysis of the Relationship between Body Fat and Weight

Part 1: Statistical Measures

Statistics avails a number of tools necessary in the analysis of most phenomenons in the daily cycles. The analysis will look at the age of the men who are members of Silver’s Gym. It would be rather misleading to make an assumption that all men have a similar age. This situation prove that it is indeed an inaccurate to lay a procedure suggesting that the age of male attendees at the gym is similar on average. There are variables rather, that in analysis of gym tend to be normally distributed across all ages. These give a clear picture with regards to continuous probability distribution. An example is the relationship that exists between the weight of individuals and their levels of body fat.

In the analysis of the relationship between body fat and weight on men attending the gym, we focus of some key statistical measures; these include the median, mean, range, and standard deviation for the data set.

Values and Interpretations

Mean

This is a measure of the average the total observations. In silver gyms the total observations are 252, the total body fat and total weights divided by the total observations gives the means of.

Body fat = 18.89841

Weight = 178.90377

Median

The median involves arranging the data from the smallest to the largest, the data set that stands in the middle cutting the total observation into two halves is the median. In even values of total observations as the case with our gym figure the middle two values are used to determine the median. This gives us a result of

Body fat = 19

Weight = 176.5

Range

This can be determined from the observations of the weights and body fats as the difference between the highest and lowest values in the observations.

Body fats = 3

Weight = 117

Standard Deviations

Determining the range encompasses the variability in the given data set. In other words it is a measure of how spread the values are. It can be determined by a formula

This gives us a std dev. of;

Body fat = 7.765

Weight = 29.386

Central tendency

Measure of central tendency is a vital aspect of day to day real life statistics. In finding central tendency in mean gives us one representative value for the entire observations. In this way representing many related values as one value. In finding median, we are able to determine the central value where the observations lie. Mean and median are also very useful as a means of condensing the data often vast and classified into single values that can help answer questions on the entire observations and reflect their distributions.

In the observations regarding the gym values, the mean would give us the actual average percentage of body fat given the weights. The median on the other hand would help us identify the central weights and body fats for the individuals. It is therefore evident that in our bid to determine the relationship between the body fats and weights of the men, of key consideration will be the means.

Part II: Hypothesis Testing

From the claim by the Boss that the average fat in men attending the gym is 20% we can structure our hypothesis as;

Null hypothesis

The average body fat relative to the weights of men attending the gym is not 20%.

Alternative hypothesis

The average body fat relative to the weights of men attending the gym is 20%.

Taking the critical value approach, the probability that the test statistic end up in the desired interval is the alpha level. Now basing our statistics on decision rule, the confidence interval is given by 100(1-alpha). This is the interval of values likely to include the parameter. This alpha level gives 95 percent. Given this the number of men with fats at 20% level of their body weight have to be 95% to prove the null hypothesis invalid.

On taking the mean values; Body fat = 18.89841 and Weight = 178.90377 and determining the percent of body fats.

% fats =18.89841/178.90377 ×100

= 10.56345

On this representation the number of men with 20% of fats in their weights evidently is not 95% of the 252 observations. This confirms the validity of the null hypothesis and rejects the alternative hypothesis.

The final decision based on the interpretation of the analysis is that, the fat level in the weights of the men attending the gym stands lower than the postulated 20%. The value on average stands at 10.56345%.

References

  1. Sharma, N. Measure of Central Tendency(Mean, Median and Mode). Shake hand with Life, 2006.
  2. Aha journals (n.d) www.circ.ahajournals.org/content/114/10/1078
  3. Quora (n.d) www.quora.com/Statistical-Hypothesis-Testing

Global Warming Essay

A Sample Essay On Global Warming:

Introduction

Global warming has over the past decade received great attention due to the impact it has had on both humans and the environment based on the scientific theories that have been discovered and put into place that give evidence as to the happening of global warming therefore the need to come up with effective ways and methods of combating it.

Global warming also referred to also as climate change has been defined as the overall rise in air and ocean temperature resulting from the greenhouse effect that which comes as a result of high levels of chlorofluorocarbons and carbon dioxide (Oxlade, 2003).

The global warming phenomena has had scientific basis as to its occurrence which will be discussed in the above context. The climate of earth has changed over the decades in which there have been several cycles of glacial advance and abrupt end of the last ice ago during the era of human civilization .Most of these changes in earth climate was attributed to the small variations in the orbit of earth that changes the solar amount received. This puts into issue that the scientific basis and evidence of global warming is equivocal.

Climate changes

Satellites that orbit the earth and technological advances put in place by scientists has enabled them collect more material information about planet earth and its climate on a global scale. Some of the scientific basis that attribute to the fact that global warming is did real range from the 19th century when the heat trapped and carbon dioxide was observed and the scientists had the ability to transfer infrared energy through the earth atmosphere through the instruments that were flown by the scientists who were of the general view that the increase in greenhouse gas level was the ultimate cause as to the warming of the earth atmosphere (Karl & Trenberth, 2003).

Another basis that is scientifically proven to point that global warming in fact do happen can be traced from the ice cores obtained in Antarctica and tropical mountains glaciers which give evidence that the climate of Earth planet responded to changes in the solar output in its orbits which further evidenced that large climate changes happened quickly based on the year span. Out of this scientific basis most scientists were of the view that the global warming effect over the centuries has been due the human activities and that the emissions of heat-trapping greenhouse gases such as carbon dioxide were viewed to be the dominant cause of global warming. Other scientists were of the basis that global warming had been happening globally and with a country like the United States signs such increase in air and water temperature, reduced frost days, intensity of down pour and its frequency, reduced snow cover, sea ice and reduced snow cover were evident enough to show that climate change has been happening over the years.

Based on the scientific studies there was a series of popular scenarios that gives the assumption as to climate change such as rise in sea level due to thermal expansion, drying of tropical dry zones such as Mediterranean Basin, incraesed rain intensity and frequency, increase in Arctic region temperature, and ocean acidification (Houghton,2009).

The above theories have one thing in common that the climate change has been due the human activities hence leading to this warming in that more emissions of heat trapping gases are from human activities which have increased the global temperatures based on the presence of human fingerprints on carbon to which when coal, oil and gas burn they generate carbon dioxide.

Carbon dioxide is the main heat-trapping gas and responsible for most of the warming. The human activities of human of industrialization have seen the emission of these gas onto the atmosphere thereby forming blanket through clogs.Generallythe human climate drivers range from heat-trapping emissions that come from gas,coal,oil in cars, cutting down of trees, burning trees as charcoal, aerosols have led to albedo and resulted to net warming and cooling. In general the human activities that have resulted to the atmospheric greenhouse are mostly from the burn of fossil fuel that causes the heat to build up in the atmosphere.

With most of the global warming being caused by human activities there is a clear distinction between natural and anthropogenic climate changes. To which anthropogenic refers to the human induced factors of climate change while the later refers to the natural causes that are not induced by humans (Zhang, Brecke, Lee & Zhang, 2007)..

The natural induced factors have been made through scientific observations such as the Arctic and Mediterranean areas while anthropogenic factors are human induced activities that contribute to global warming such as green houses and its gases,, chloroflourocarbons,, aerosols in the climate that scatter and absorb solar energy and change the microphysical and chemical properties of earth,dust,industrial proceses,exhaust emissions, land usage while the natural factors are mainly triggered by the sun which triggers the release of greenhouse gases, orbital changes, increased global temperatures are some of the factors that contribute to the problem of climate change.

Based on the above arguments global warming seems to be taking place based on the anthropologic human factors that lead to emissions such as the green house that emit vapours,the burning of fossil fuel such as oil that produces gas, availability of chlorofluorocarbons and aerosols into the atmosphere. The effects of global warming can be felt in some parts of the world due to temperature trends. On the other hand there are views that global warming is not happening in that the planet has always been flat and no consensus globally that is caused by man and that it has been always over and over and the predictions as to the impact of the effect of global warming have been proven wrong by some scientists.

Mitigation Strategies

Due to the rising effect of the climate change there has been mitigation strategies put in place to combat the problem of global warming ranging from carbon sequatration, carbon taxing, clean coal technology and the use of high fuel efficient standards in order to avoid the effects caused by the change in climate (Karl & Trenberth, 2003).

Carbon sequestration refers to the scientific process of capturing and storing the carbon dioxide gas by removing it in the atmosphere and depositing it into areservoir, removing it from gases thereby recycling it to avoid emitting it into the atmosphere. The above process if done through biological process tends to affect the carbon cycle such as due to climatic fluctuations and engaging in activities such as re a forestation and wetland restoration.

Some of the common sequestration methods employed range from a biotic that includes oceanic and geological injection, biotic sequestration and terrestrial sequestration.

Carbon taxation on the other hand refers to the process of levying on carbon contents of fuels especially hydrocarbons that release carbon dioxide such as petroleum, coal and natural gas hence avoiding the release of green house gases into the atmosphere. Such method is cost effective as it helps to address the problem emitters of green house gases by facing the cost of their actions. They are efficient in that they can lead to employment.

The mitigation strategies have on one hand been effective in various jurisdictions such as the carbon taxing done of fossil fuels which has seen the emitters face full force for their acts and create employments while on one hand mitigation such as the clean air technology has been seen as expensive to implement as to the tapping of the gas. The best policy that I would regard is the carbon sequestration and high fuel efficient standards that would limit the emission of carbon dioxide into the atmosphere. The business sectors that are likely to be affected are the manufacturing sectors, agricultural sectors and industries in areas such as China who would be forced to pay for their actions of emitting carbon dioxide into the atmosphere.

References

Chris Oxlade (2003) Global Warming  ISBN-10: 0736832955 | ISBN-13: 9780736832953

Epstein, P. R. (2005). Climate change and human health. New England Journal of Medicine353(14), 1433-1436.

John Houghton (2009) Global Warming: The Complete Briefing

Karl, T. R., & Trenberth, K. E. (2003). Modern global climate change. science, 302(5651), 1719-1723.

Zhang, D. D., Brecke, P., Lee, H. F., He, Y. Q., & Zhang, J. (2007). Global climate change, war, and population decline in recent human history.Proceedings of the National Academy of Sciences104(49), 19214-19219.

Sysco Corporation Research Paper

Research Paper On Sysco Corporation

For a long time now, Sysco Corporation has been involved in the distribution of foods to various restaurants as well as the marketing and procuring of such foods. This company was founded by Herbert Irving and two of his colleagues back in the year 1969 (Pederson, 2007). As with regards to the volume of sales, the company was ranked at position 204 in the Fortune Magazine in the year 2009. Due to a merger with US Foods Inc. in the year 2013, the two companies now occupies more than a quarter (27%) of the food distribution the United States of America (Mathews, n. d). The following year, Sysco was at number 55 in the United States of America based on the size of its revenues. They not only serve restaurants in the United States and Canada, they also offer similar services to educational and healthcare facilities. The company is considered to be the world’s biggest distributor of foods, having over 500,000 clients in diverse fields. This company is a wholesale distributor of foods. To date, Sysco has about 190 locations in the whole of the US, Ireland and Canada (Sysco Corporation, n. d). The services of Sysco range from ingredients to serving and preparation items. The company has grown in leaps and bounds, having started with a capital of $115 million at its IPO in the year 1970 to the $37 billion that was reported during the fiscal year ending 2010.

The greatest competitor of Sysco is the US Foods Inc. Sysco has plans of acquiring US Foods Inc., its biggest competitor. This has led to an uproar as state attorney raise concerns regarding the dissolution of competition in the event that Sysco is successful in acquiring its biggest competitor (Sander & Bobo, 2013). This is likely to create a monopoly in the food distribution industry. Besides US Foods Inc., there are some other small competitors in the food distribution industry which cannot match Sysco Corporation in terms of strength. These includes Royal Ahold, Performance Food Group, Maines Paper and Food Service, Gordon Food Service Edward Don and Company, Ben E. Keith as well the local foodservice distributors.,

The brand products of Sysco are categorized in into six groups, each portraying a varying standard of quality, consistency of supply and hygiene (Falat, 2011). The Supreme Sysco is the highest quality products offered by the company (Sysco Corporation, n. d). They have a uniqueness that cannot be compared to anything else in the industry. It is followed by the Imperial Sysco which consists of product from a few selected regions, among them being the potatoes they get from Idaho. The third category is the Classic Sysco which is the largest among the six in terms of the variety of the products that fall under it. Reliance Sysco come at number four, offering some of the cheap mixes of products. Natural Sysco, which falls at number five embodies all the fresh products the company distributes. Serene Sysco on the other hand does not include foods but rather comprises of plastics, paper and foam products that the company offers.

As mentioned early, the US Foods Inc. is the biggest competitor of Sysco. Below is a list comparing the Sysco Corporation and US Foods Service on the grounds of price, quality and value.

Company Brand Packing Description Item Number Date Price
US Foodservice SPUNKMEYE 12/2 LB BROCCOLI FLORT PTITE IQF FZN 2328334 8/1/2012 20.10$
Sysco PACKER 12/2 LB BROCCOLI FLORT PTITE FZN 9340563 8/1/2012 19.23$
US Foodservice MONARCH 20 LB BROCCOLI SPEAR WATER PK FZN 1328491 8/1/2012 18.26$
Sysco TYSON 20 LB BROCCOLI SPEAR WATER PK FZN 3328358 8/1/2012 19.23$
US Foodservice FLAV-R-PA 96 EA CORN ON COB 3″ FZN 1327584 8/1/2012 17.07$
Sysco SYS CLS 96/3 IN CORN COB 3″ FZN 1082106 8/1/2012 19.50$
US Foodservice SIMMONS 1/30 LB CARROT SLI GR A P 1038660 8/1/2012 19.54$
Sysco SYS CLS 1/30 LB CARROT SLI KK GR A 3959327 8/1/2012 20.77$
US Foodservice CTLMN SLC 12/2 LB CARROT WHL BABY GR A 3856655 8/1/2012 30.17$
Sysco SYS IMP 12/2 LB CARROT WHL BABY GR A P 1025139 8/1/2012 30.10$

The objectives of Sysco’s payment policy include among other things: to safeguard the company from losing finances through poor financial guidelines; to prevent legal liabilities that might arise out of the payment systems; as well as to foster confidence in its customers (Jason, 2006). The authorized distributor agreement lays the ground for all of Sysco’s payment policies. The agreement gives reference to IHG Contract Products and PV Contract Products. In this regard, cost is described as the amount that is provided under the applicable Supplier Agreement. This is the amount which is billed to all distributors devoid of the subtraction for any cash discount that might be allowed by any suppliers for purposes of prompt payment.

Sysco Corporation is responsible for drafting the invoice to be handed to the operating companies. This invoice is used to definethe cost to be paid. The cost of products supplied is never reduced by any cash discounts meant for prompt payments. According to the participation agreement between the customers and Sysco corporation, the except for payment for products and Services already rendered to the customer as well as the necessaryreimbursements allied to the transition process are all a liability that the customer has to incur whenever, such termination shall be without further cost, expense or liability to Customer. The other service that that Sysco Corporation undertakes is the consolidation of payments made by the Operating Companies to the company.

In the event that the customer fails to make payment to the company for pay of any service of product that have been offered to any of thefranchisee properties (should be within the all payment terms), the company has the right to withhold the products and services made to the franchisee properties up to the time when the company is able to receive its payment from the customer. The payment has to be in full service as reflected in the selling price as quoted initially. Late charges are also permitted as per the agreement or the credit application. Additionally, in the event that the customer does not make payment on time as receiving either services or products that have been delivered to them by a franchisee property, Sysco corporation is entitled to proceed with the conditioning of any future delivery to the franchisee properties, having put in place severepayment terms as well as credit measures which will ensure that the company is able to recover all of its payments.

The payment mechanism by Sysco Corporation is very similar to that of US Foods Inc. (Tsao, 2009). The difference comes with the terms of termination for the agreement. This clause is included in US Foods Inc.’s form of participation agreement. It reads,

“By either Party if the other Party breaches this Agreement and does not cure such breach within thirty (30) days of receiving notice of such breach from the non-breaching Party; provided, however, that no cure period shall be permitted for any Party’s breach of its financial obligations hereunder or breach of any applicable federal or state laws, ordinances or regulations that are material to the operation of such Party’s business or the performance of its obligations under this Agreement.”

This clause does not have such a weighty effect on the agreement terms since there are some other clauses such as the call for termination in the event that any of the party feels so upon feel uninterested before the expiration of the agreement license.

Another competitor for Sysco Corporation is the Royal Ahold. The company which is originally from Netherland is an international food supplier. The Company was at its peak in the year 2001 when the sales reached a high of €66.6 billion while the profits reached €1.1 billion (Broekstra et al., 2005). At this time it had over 5, 200 warehouses in 27 nations. Its employees are way above a quarter of a million. During this time, the company was the second competitor to Sysco Corporation. Nonetheless, there was a turnaround in the year 2003 when fortunes reversed. The problems can due to overexpansion. The company experienced a meltdown and it has ever since not recovered completely though there is progress.

According to Broekstra et al. (2005), the payment policies as well as the financial controls atRoyal Ahold also hadissues. A while ago, the company was characterized by a failed system that was fraudulent. A breach of an agreement would be covered by a bribe either by either Royal Ahold or the operating company. Corruption was very rampant. An Audit done by the Deloitte Accountants showed that the accounts were always inflated. This is what drove the company to be liable for criminal charges. If given an opportunity to choose between the three companies, I would turn down Royal Ahold immediately. This is due to the fact that I still do not have confidence in the operations of this company. It has managed to build enough goodwill since the shameful acts that in which the company was involved. Contracting such a company would mean that I am putting my business at risk, lest I it becomes entangled in Royal Ahold’s mess again since the company has such a history. My choice would be Sysco Corporation because of two main reasons; (i) the company has a good has years of good reputation in meeting the terms of agreement in its contracts; (ii) the company’s products are offered at relatively cheap prices as compared to those of competitors.

Conclusion

Sysco Corporation continues to remain a leader in the food supply industry both in the US and Canada. The company has so far established many branches across these regions. It has managed to grow over time, starting from the time when it was founded in the year 1969 with a small capital of about $115 million. Currently, the company is worth over $37 billion. Its plans of buying US Foods Inc. will see it become even bigger, therefore achieving an increased command in the food supply industry. The prices for its products are relatively low as compared to its competitors. This is the reason why I would contract this company when compared to the others.

References

Broekstra, G., Sornette, D., & Zhou, W. (2005). Bubble, critical zone and the crash of Royal Ahold. Physica A: Statistical Mechanics and its Applications, 346(3-4), 529-560.

Falat, S. (2011). Working through gatekeepers to access the grassroots. A case study of Sysco Grand Rapids and Michigan fruit and vegetable growers. Appetite, 56(2), 528.

Jason, K. (2006). Sysco Corp.. Mergent’s Dividend Achievers, 3(4), 271-271.

Kashiwagi, M. (2004). Direct payment policies for the regeneration of less-favoured areas: a comparative study of the EU and Japan. International Journal of Agricultural Resources, Governance and Ecology, 3(3/4), 193.

Mathews, P. (n. d). Is Sysco A Good Dividend Stock To Buy?. – SYSCO Corporation (NYSE:SYY). Retrieved June 5, 2014, from http://seekingalpha.com/article/2238423-is-sysco-a-good-dividend-stock-to-buy

Pederson, J. P. (2007). International directory of company histories. Chicago: St. James Press.

Sander, P. J., & Bobo, S. (2013). 100 best stocks to buy in 2014. Cincinnati: F+W Media.

Sarwar, G., & Fox, G. (1992). An Evaluation of the Redistributive Efficiency of Alternative Crow Benefit Payment Policies in Western Canada. Review of Agricultural Economics, 14(2), 187.

Sysco Corporation. (n. d). News. Retrieved June 5, 2014, from http://topics.nytimes.com/top/news/business/companies/sysco_corporation/index.html

Tsao, Y. C. (2009). Production and payment policies for an imperfect manufacturing system with machine maintenance and credit policies. International Journal of technology Management, 48(2), 240.

 

An Essay About Good and Evil

Good and Evil Essay

Rousseau commented that God makes all things good; man meddled in them and they become evil. What Rousseau was trying to point out is that all God’s creation was perfect, but man through his acts brought in evil. Thus, everything is good because it comes from God and as it seems everything degenerates because of man. In the creation story, man’s service was to tender the garden but man transgressed God and that brought about evil and understanding of bad and good (Rousseau, Scott and Lacroix,2012).

In that regard, human beings are naturally good because they were made in the likeness of God, but it is the society and its artificial institutions that have corrupted them. It is through man’s growing appetite, love for order and welfare of his kind that has made himto acquire animal like behaviors giving room for injustices to thrive. This has made man turn away from the original purpose that was of preservation.

Therefore, he advocates for a complete social revolution, not a pedagogical reform, but one that will replace the artificial traditions of civilized life by cultivating individuals who are natural and self-reliant. Rousseau asserts that children are born absolutely ignorant, impressionable, dependent and without rational thoughts, but can gain knowledge through their contact with the world.

Rousseau believes that there is a connection between rational being and spiritual unity. He believes that God is intelligent and man can be intelligent when he reasons. Hence, he advocates for education as a way of acquiring knowledge, attitudes and believes that will make man reason. It is through education that a rational being will be born who will take his place in the society and fight for a good course (Rousseau, Scott and Lacroix,2012).

Works cited

Rousseau, Jean-Jacques, John T Scott and Pierre Firmin de Lacroix. The major political writings of Jean-Jacques Rousseau : the two discourses and social contract. Chicago : University of Chicago Press, 2012.

 

Progressive Era Essay

Progressive Era Essay

Introduction

The origin and reforms of the banking system occurred during the progressive era. This was an epoch of political, financial/economic and social reforms for the world, mostly in Europe and America. The activism of many parties, individuals and the government yielded this revolution that brought change to the economy and banking industry. With the leadership of the president Woodrow Wilson, banking and economics were instituted in the business world in America. Efforts from economists such as J. P Morgan brought reforms to the businesses in America during this period. At this time, three economists and bankers,J.P. Morgan, George F. Baker, and James Stillman, controlled a great part of the banking industry. Their control was noted all over the US, almost in all banks. These findings were after the research carried out on the banking industry after the collapse in 1907 (Carson and Bonk 1999).The discussion and focus point in this paper is on the banking and economic reforms during the progressive epoch. Banking and economics, which had then been uncivilized, were revolutionized and centralized through the aid of several economists, bankers, government and the individuals of the time.

Background of the Topic

This research aims at identifying the problems faced during the progressive era, related to economics and banking. It discusses the reforms conducted during this period and identifies the individuals who fully participated and invested their time and efforts in creating a better business world. The flaws and success of their efforts is also discussed, where we analyse their efforts and the effects on the business world today. The main focus point is on the revolutions attached to the progressive era. All the key players and activists to the revolution are discussed and their roles in revolutionizing the economy and the banking industry.

Sub questions

What were the problems in economics and banking during the progressive era?

Before the revolution of the progressive era, banking was not centralized and it operated in traditional and unclear principles. This led to a recession period, which involved crisis in banking and economics in America. President Woodrow helped reform the economy and created a better environment for business. He focused on reforming the business industry which had collapsed out of failures and poor techniques. It was during 1908 that the Aldrich-Vreeland Act was enacted by congress to fight the then banking and economic problems. This was after the panic of Wall Street in 1907, which rendered all banks bankrupt (McCulley, 2012). These were among the many failures and problems facing the economic and banking industry in America during the progressive era.

What were the problems solved by J.P Morgan during the progressive era?

Morgan was the greatest financier and banker during the progressive era. He played a key role in fighting economic problems that were affecting America, before and during the progressive epoch. One of his key roles was merging American independent steel industries into becoming United States Steel Corporation. He also merged Edison General Electric and Thompson-Houson Electric Company into being General Electric Company (Moss 1996). All these activities aimed at strengthening the American business world. J.P. Morgan is greatly remembered for fighting the financial panic of 1907. This was when the banking industry had failed, where he strategized on how to revive and strengthen the industry, which he did. His principles aimed at efficiency and fairness to all. Through his efforts, he succeeded in fighting economic problems in USA, during the progressive era.

What are the effects of the progressive era in economics and banking?

The progressive eonacted as a foundation to the modern form of banking and economics. It is during this period that the banking industry was revived and strengthened, through the efforts of the then bankers and financiers. The progressive era set up better principles, laws and acts for banking and economics, which helped in strengthening the industry. At a time when the banking industry faced financial constraints out of the lack of business continuity planning, the era took up the role of revolutionizing and strengthening the industry.

What were the boom and bust cycles of the economy? What were the effects of economics andbanking?

Revolutionizing of economy and banking led to a boost in the economy of America. Many employment opportunities arose, creating a greater supply of money amongst the people. Through banking, capitalism was fought creating a free and liberal market for all people.This stirred up the need for business activeness among the citizens, yielding faster development in the country. Increase in exports, and thus foreign exchange was recorded, and the country became the strongest economy in the world. This led to an overall improvement in the living standards of the country’s citizens. The boom and bust cycles of the economy were characterized by the financial strain of Wall Street in 1907, which led to collapse of over 7000 banks (Stillion,2011). The banks were previously flourishing in the industry until the sudden collapse and record of great losses.

Professional Significance of the Work
On the professional scope, the information depicted here creates an ingenious source of information on the history of economics and banking. The activists and leaders of the reforms are named in the paper, helping the reader gain knowledge on the pioneers of the modern form of banking. The information is, therefore, professionally viable for other researches or as a source of reliable information.

How does this information benefit the reader?

On the professional scope, the information helps in creating a better understanding of the American economic and banking history. The reader is able to understand the financial situation of the United States of America during the progressive era. The era was marked with constraints and success, all aimed at bettering America’s economic foundation. With an understanding of this information and the contemplation of the knowledge, one is able to view the state of America’s economy and banking industry during this epoch.

Overview of Methodology

The information used during this research has been obtained from internet and library sources. Some of the primary or first-hand sources of the information are extinct and most of the dependable sources have been written by other authors over time. The other used documents are cited in this paper, most of which discuss the economic state of US during the time. The information helps in creating awareness and understanding to the audience. The major sources of this information are the peer reviewed journals, article and books. These books are listed in the reference page, and all citations have been made in the paper.

Limitations:

One of the limitations in this research is the scarcity of accurate data. The dates and years of specific activities have not been recorded, acting as a hindrance to the accurate data. This may be as a result of the lack of the initial accurate data, making it less reliable in terms of keeping accurate dates.

Definition of Terms

         Era/eon/epoch – This is a specific period, marked by a certain occurrence or activity. It is often illustrated with quotation of times.

         Progressive –It refers to the successful continuation of events. In this case, it is an era of success of the US, where many amendments and changes resulting to success of the country occurred.

         Eradication –This is the complete or the total removal of something. In this research, it refers to the opposition of the Spanish rule in Cuba.

         Political –Refers to everything relating to a country’s politics and governance.

         Economical –Refers to all information or activities that are driven to the creation of money or wealth.

         Social –Refers to all relations between humans, which are aimed to the creation of a harmonious living.

Summary

            The research creates awareness in the audience regarding the progressive era of 1890 – 1913. During this period, there were many occurrences, all aimed at creating a better economy and business environment, and revolutionizing the country. There was much effort from the citizens, government and other individuals, all aimed at bettering the banking and economy. This research is helpful to the audience and readers, who get the chance to understand the key drivers of the progression era, who created the foundation of the modern day banking industry. This is a research on the drivers of this progression and their efforts into realizing their dream. It also discusses the activities involved in the process.

References

Carson, T., & Bonk, M. (1999). Gale encyclopaedia of U.S. economic history. Detroit: Gale Group.

McCulley, R. T. (2012). Banks and Politics During the Progressive Era. Routledge.

Moss, D. A. (1996).Socializing security: Progressive-Era economists and the origins of American social Policy.Harvard University Press.

Stillion, S. B. A. (2011). Militant citizenship: Rhetorical strategies of the National Woman’s Party, 1913-1920. College Station: Texas A&M University Press.

 

 

Study Of Culture Essay

Study Of Culture

Anthropologists conduct firsthand observation and fieldwork while seeking to learn about the culture of a certain society. Such kinds of studies are referred to as ethnography. The fact that culture relate to the manner in which individuals interact means that it is difficult to make reliable observations while in a laboratory setting. The best way to learn about the culture of a society is by living with individuals who belong to that society. For instance, an anthropologist may opt to live with a typical Latin American family and study through observation, rather than relying on the responses given by, say, a family member who studies at a certain university or college (Stade, 2001).

It is appropriate for cultural anthropologists to conduct systematic comparisons of cultures, especially those which appear to be similar. Such a comparison is referred to as ethnology. For instance, an anthropologist may undertake an ethnological study for the purpose of comparing the cultures of societies which rely on, say, hunting and gathering as opposed to agriculture. The most reliable sets of data would be those which are acquired from ethnographies which already explicate the way of life of the people in question. In essence, ethnology refers to the synthesis of the studies which have been completed by several ethnographers (De Mai & Muzzio, 1996).

A Research Methodology

The essence of a research methodology is in the attempt to answer the basic question which is: how can reliable information be acquired with regard a certain practice or behavior of a culture, community, or culture? This does involve two questions which are closely related (Stade, 2001):

  1. How can a researcher investigate a phenomenon in an endeavor to come up with the useful and true information? and
  2. How can other stakeholders understand what was meant by the researcher as he/she assert ideas, theories, and propositions? Should the researcher be believed?

The first issue relates to the conditions and techniques which are necessary for the purpose of completing the study or exploration. The several and varied phenomena which may be studied necessitate special techniques and tools which are appropriate for the purpose of gathering the relevant information about them. The study of behavior and culture requires the utilization of the same strategy. The primary data that is utilized in social science research studies are acquired from three main sources: direct observation of the human behavior; listening to and taking notes of the contents of the human speech; and examining the resultants of human behavior, especially those which have been documented and kept in libraries and archives. In essence, the fieldwork methods of studying culture include observation of the population, questionnaires and interviews, participants’ observation, life histories, as well as participatory approach (Geertz, 1973; De Mai & Muzzio, 1996).

Each of the methods listed above has its strengths and weaknesses. The observation of the population has the advantage of ensuring that none of the individual residents is discriminated against. However, it may require a significant amount of time and resources, especially in cases where the population is large. Questionnaires and interviews have the advantage of being timely, and are also important since the researcher is able to interact with the sampled participants. However, it may be challenging to utilize them in cases where the respondents are illiterate, do not understand the language used in the study, or if they choose to withhold some information (Matsumoto, 2006).

The observation of the participants saves time since the number of participants is usually manageable. However, this may raise validity issues in case the selection of the participating individuals is biased. Dwelling on life histories facilitates the acquisition of accurate and timed accounts of a certain culture. It may, nonetheless, be disadvantageous in case the histories happen to have been compiled wrongly. Participatory approach is the best methodology since the researcher is able to observe and interact with the members of the society in question as they live their lives normally. The weakness of this methodology is that it may take a long time to complete, especially because it may take some time before the individuals being studies consider having the researcher in their midst being normal (Matsumoto, 2006).

Studying Commentaries within Online Social Media

The study of commentaries within online social media can be best accomplished through participation. The researcher may participate just like anybody else so as to make other participants as comfortable as possible. Indeed, participation enables the researcher to interact with other players, and he/she may even ask questions or request clarification where possible. In addition to participation, the researcher may just observe as others interact. The use of the participatory approach enhances the reliability of the data as well as the results/findings of the study. This is due to the fact that the researcher is able to live the life that the subjects being observed live. With regard to commentaries on such social media avenues as Facebook and Twitter, the researcher is able to interact and reason with other players, and this means that the reliability of the data and the findings is enhanced (Horowitz, 2009).

With regard to the replacement of David Letterman by Stephen Colbert, most observers may tend to support the move. Firstly, David Letterman has been a host for a significant amount of time and after such a time has elapsed, the audience tends to get used to the individual in question. The audience has a progressive mind and, therefore, they may be impressed by the replacement of David Letterman. Nevertheless, that is speculative; and it is important to avoid speculations while undertaking any kind of study. Speculations compromise the reliability of the results.

References

De Mai, B. & Muzzio (1996). “Dial-In Democracy: Talk Radio and the 1994 Election”.

Geertz, C. (1973). “Thick Description: Toward an Interpretive Theory of Culture” from the Interpretation of Cultures

Horowitz, D. M. (2009). A review of consensus analysis methods in consumer culture, organizational culture and national culture research. Consumption Markets & Culture, 12(1), 47-64.

Matsumoto, D. (2006). Culture and Cultural Worldviews: Do Verbal Descriptions about Culture Reflect Anything Other Than Verbal Descriptions of Culture?. Culture & Psychology, 12(1), 33-62.

Stade, R. (2001). The Fate of “Culture”: Geertz and Beyond; Culture: The Anthropologist’s Account:The Fate of “Culture”: Geertz and Beyond.;Culture: The Anthropologist’s Account.. American Ethnologist, 28(2), 449-450.

 

Sarbanes-Oxley Act Essay

Sarbanes-Oxley Act

Introduction

Sarbanes-Oxley Act was enacted by the senate on 30th July 2002 and it was aimed at protecting shareholders as well as the American citizens from cases of fraudulent and accounting scandals. To this effect, the Act plays important role in the entire management of various companies in terms electronic records of the company as well as the financial departments of the company. According to this Act, all the records in the company must be saved for more than five years and companies that fail to comply with this Act face hefty fines or alternatively its stakeholders face imprisonment. This paper will analyze some of the acts, laws and publications that have been designed by the federal government to enhance or to replace Sarbanes-Oxley Act (Anand, 2006).

Over the past few years, there have been a number financial scandals and the loss of market values which has affected Sarbanes-Oxley Act of 2002. In response the congress has made a number of amendments to the existing acts and laws of the United States of America. Typically, these proposals, acts, and laws have in one way or another regulated or improved the Sarbanes-Oxley Act of 2002. A good example of the proposals made is the internal regulations which are imposed on the companies that are competitors in relation to the Sarbanes-Oxley Act of 2002. In this respect, the rules under various internal regulations make it easier for managers to supervise the objectives of their company as well as its employees.

In addition to that, those rules and regulations which relate to accounting principles in the company make it easy for the external investors to financial performance of various companies that are constantly competing with one another in the industry. On the other hand, these proposals have regulated the Sarbanes-Oxley Act in a number of ways for instance a situation whereby these proposals are over-inclusive and under-inclusive then the Act fails to address some of the potential problems of different companies or corporations.

Furthermore, the federal government has proposed a two approach system that’s geared towards regulating the Sarbanes-Oxley act of 2002.In this respect the government proposal (GASB) requires that there is need for the recognition of the outflow resources for state government’s pension contribution from the measurement date and the beginning of financial year for its implementation. The Public Companies Accounting Oversight Board (PCAOB) is one of the enactment that was aimed at improving Sarbanes-Oxley Act of 2002. This enactment established ethics, rules, and independence standards to be followed by companies or firms in the country. PCAOB has been mandated to conduct inspection of various companies on yearly basis thus this makes the auditing process transparent because it is being discussed in the public media. On the other hand, the whole process of PCAOB is indeed burdensome to those people who are involved in the whole process. In this respect, a lot of documenting is conducted where the personnel involved review all the systems involved.

In addition to that, the Finance Executives International (FEI) enhances SOX Section 404 costs. Reports indicate that, since the 2004 SOX Section 404 costs have been declining and in 2006 about 200 companies that were having average revenues of $6.8 million that were a decline of 23% as compared to the costs of 2005. In the positive side, FEI has improved the confidence of investors because it has given more powers to SOX when it comes to Fraud prevention.

In 2006 the Ribstein/Butler was established and this book made a comprehensive proposal for the reformation or repeal of Sarbanes-Oxley Act of 2002. This proposal stated that investors in US can diversify their stock in the investments that they make thus this has helped to manage all the risks that companies face as a result of natural catastrophes that emerge as a result of competition or fraud. On the other hand, each company or firm is required by the proposal to spend some money in order to comply with SOX Act. In this respect, publicly traded companies in US cannot diversify their activities as investors do (Vallabhaneni & Association of Professionals in Business Management, 2008)

In 2007, Foley &Lardner Survey was conducted and its reports affected SOX Act significantly. This survey majored on various costs in US that included: board compensation, legal costs, lost productivity, directors and officers insurance among others. Between the 2001 and 2006 these costs increased significantly and Foley $ Lardner Survey indicated that those companies whose revenues were below $251 million were to be exempted from section 404 of SOX. Although this survey contributed significantly to the performance of various companies in US some of the underperforming companies (Prentice & Bredeson, 2010).

SB1262 Nonprofit Integrity Act was passed in 2004 in California and this act has greatly impacted Sarbanes-Oxley Act of 2002. This law requires that companies whose revenues are more than $2 million should be independently audited by a selected committee or board of members. This act emphasized transparency and accountability in each organization that was guided by the Sarbanes-Oxley Act of 2002. As a result of this, many people and professionals have been calling for the reformation of the Sarbanes-Oxley Act of 2002 however these calls have been muted and the act remains in place (Anand & Wilkinson, 2008).

Generally Sarbanes-Oxley Act has played a vital role within the American society as it guides investors in various sectors of the economy. To this effect, the above mentioned government regulations in terms of laws, acts, and proposals have been developed and they are geared towards regulating and enhancing Sarbanes-Oxley Act.

References

Anand, S. (2006). Sarbanes-Oxley Guide for Finance and Information Technology Professionals. Hoboken: John Wiley & Sons.

Anand, S., & Wilkinson, J. (2008). The Sarbanes-Oxley act: An introduction. Zaltbommel: Van Haren Publishing.

Prentice, R. A., & Bredeson, D. (2010). Student guide to the Sarbanes-Oxley Act: What business needs to know now that it is implemented. Mason, Ohio: South-western/Cengage Learning.

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Vallabhaneni, S. R., & Association of Professionals in Business Management. (2008).Corporate management, governance, and ethics best practices. Hoboken, N.J: Wiley.

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