Feasibility Report Guide Essay Example for Free

Feasibility Report Guide Essay Intro Samsung Electronics is based in Seoul, South Korea and operates in 65 countries worldwide with 157,000 people working for the company. Samsung Electronics products include semiconductors, hard drives, digital displays, home electronics, mobile phones, and others. All Samsung products have the same tone when the device is turned on, so that customers can easily get used to them and this tone is mentioned when Samsung products are being advertised as well. â€Å"Smarter Life† theme was introduced recently in Samsung that is based on the innovative approach in improving the company’s current products, and introducing new products to the market. For instance, Android-based Samsung Galaxy Player 50 is to be introduced soon, containing a range of innovative features the product is expected to change the current media players’ market condition significantly SWOT Samsung Samsung Strength as Becoming a world known brand (over 200 countries) RD (investing on scientific talents) Innovation (new digital technology) Customization (new products every year) New allocation of marketing resources (M-Net). Samsung enjoys the widest range of product portfolio which includes : Mobile phones Tablet TV/Audio/Video,Camera,camcorder, Home appliance Pc‟s,Laptop, peripherals, printer, memory cards and Well diversified and differentiated product line toother accessories meet changing customer needs . Samsung electronics has 4business areas to cover customer electronics needs. Practice the good leadershipBrand value through multiple sponsorships High market share that continues to growtheory (Mobile Phones and Design with an attractive styling that interestsmemory chip)and LCD the customer, as the result of the development of Samsung‟s new products that involve team of product designers. product variation Samsung’s Opportunities unique products and existing products introduce userwith variety friendly mobile phones could launch sub brandsat affordable price. to the company. Samsung’s Opportunities O open more stores Newmore customers O Launch creative products Technology, Innovative Products, and Creative Solutions. WeaknessAver age pr i ces of pr oduct s seem t o bea l ow qual i t y pr oduct s-Not pr o-act i ve intro oduci ng a newpr oduct s. low cost competitors in China2. legal war between Samsung and its competitors such as Apple nokia. ThreadsLow-cost competitors Samsung is facing threats from many other low cost companies in China. While Samsung was busy competing with others, Huawei a company which focus on low cost products; is now a leader in fixed-line networks, mobile-telecommunications networks, and budget smart phones. Market share- Samsung Mobile eyeing 60% marketshare in India. The Indian mobile handset market is estimated to reach 251 million units in 2013, an increase of 13.5% over this year. The threat of potential new entrants (Low)- New entrants would have issues with overcoming patent issues if they didn’t plan on investing in their own RD to create a unique product. These things together would require a new entrant to establish a competitive brand name while achieving economies of scale via investments in a supply chain process and developing a distribution infrastructure to remain competitive. The costs of accomplishing these things make a very strong barrier to entry. The threat of substitutes (High) Market share-Holding a revenue market share of 20.6%, Vodafone India is the countrys second largest telecom operator by revenue share after Bharti. Strengths: * Diversified geographical portfolio with strong mobile telecommunications operations in Europe, the Middle East, Africa, Asia Pacific and to some extent the US * Network infrastructure   * Leading presence in emerging markets such as India Weaknesses: * Little focus of impact of mobile on climate.   * Negative return on assets (ROA) under perform key competitors like ATT, Airtel, Uninor etc * US business not nearly as strong as European/rest of the world operations * 80% of its business is generated in Europe. Opportunities: * Improve accessibility to wide range of customers * Focus on cost reductions improving returns * Majority stake in Hutchison Essar in India * Research and development of new mobile technologies Threats: * Highly competitive market * Still lags behind major competitors in the India and other countries. * Extremely high Porter’s five forces Buyer power The bargaining power of buyers in the telecommunications industry is high due to the cutthroat competition and lack of differentiated products. The strong buyer power effectively reduces the cost prices in the industry though not to the level of its competitors. As such, Vodafone will keep making reasonable profits compared to its competitors. Supplier power Vodafone’s suppliers have a high bargaining power since the company operates with greater margins compared to its competitors. As a leader in the market, the market share is large meaning that it can easily absorb any price increments from the suppliers more than its competitors can. As such, Vodafone can easily maintain low prices from its suppliers and continue making profits (MarketLine, 2012, p. 9). Threat of substitutes Vodafone faces a considerable threat for products and services. The landline and CDMA services are fast declining while broadband services are fast becoming common. Video conferencing, VOPI such as Skype, Google Talk and Yahoo Messenger, email and social networking have emerged as substitutes to mobile services. However, due to the strong buyer power and effective economies of scale, Vodafone does not need to pass down the costs attributed to substitution to consumers (MarketLine, 2012, p. 8). Threat of entrants The threat of fresh market entrants is low because of barriers to entry. Companies wishing to enter the market must pay huge licensing fees coupled by spectrum availability and regulatory issues attached to the industry. Similarly, the costs of setting up network infrastructure are high, and the rapidly changing technology make is difficult for new entrants to cope. However, Vodafone can cope with this by maintaining high-level efficiency of its services to unrivaled heights. Industry rivalry Vodafone faces extremely high rivalry from its competitors due to the low call rate prices charged by its closest competitors. Similarly, the competitors constantly provide innovative products and services to the customers, which mean that Vodafone has to provide the same to its customers. Vodafone PEST Analysis. PEST analysis is a strategic tool used to analyse external factors affecting the business and stands for political, economical social and technological factors. The main political factors affecting Vodafone include EU Roaming Regulation that aims to decrease charges for mobile phone usages Economical factors also affect Vodafone main of which are the growth of GDP and the level of inflation rate within markets where the company operates. Generally any external economic changes affecting Vodafone can be classified as external economic factors. There is a range of social factors as well that affect Vodafone. For instance, changing work patterns that are becoming very popular make people work from home increasingly relying in communication technologies. Also, there are issues like people going ‘green’ and ageing population in developed countries that are going to affect Vodafone directly or indirectly. The impact of technological factors on Vodafone is without any doubt due to the nature of the telecommunications industry. Specifically, a technological innovation in communications and emergence of alternative means of communication such as online chatting, and Yahoo! Messenger are going to affect Vodafone strategy in a way that the company is left with a choice of either to form strategic alliances with above companies or to commit to considerable amount of research and development in order to introduce innovative products and services to the market.

The Island Of Dr. Moreau Essay -- essays research papers

In 1896 H. G. Wells had the first edition of ' The Island of Dr. Moreau'; published. The book took place primarily on an island in the Pacific Ocean. On this island Dr. Moreau and his assistant ( Montgomery) performed dangerous, secret experiments on humans and animals. When Wells wrote this he knew nothing about DNA, cloning, or chromosomes but he did use his scientific imagination. Wells realized that society was beginning to rely on science too much in the late nineteenth century. He wrote this book to issue a stern warning for future societies against their own scientific advancements. He knew that just like his society others will want to quench their appetite for this tasty treat called vivisection or cloning. He knew that eventually the progress of society would lead to the all or nothing control of the evolutionary processes.   Ã‚  Ã‚  Ã‚  Ã‚  This brings me to one of Wells' most important ideas that he wanted to tell his readers. That was the idea of vivisection or cloning of humans and animals. In todays world we are trying to control evolution by furthering our studies into cloning. He was right about his expectations of future societies and his ideas about how scientific advancements would affect our world. It was different because when this book was published it got horrific reviews for being too outlandish with its views on society. I think that if the book was published today it would be raved as a good warning for all the cloning scientists. Tod...

Reaction Paper 1

Kaily Purtle 09-10-2012 Study of the Family Reaction Paper 1 In class we discussed Reading #4. This reading was about the â€Å"Super Mom†. We discussed our personally experiences along with readings. We talked about how stay at home mothers and working mothers get looked at by society and by their husbands. I will be writing my reaction paper on this topic because it is very interesting to me. The â€Å"Super Mom† is described in the White and Klein text as a â€Å"stroller in one hand, brief case in the other. † This means that the mother is doing all she can to provide for her family while still catering to her children.On the other end of the spectrum, a â€Å"Stay at Home Mom† is just a mother that stays home with the children. She takes care of every need that the children have while taking care of the home at the same time. The husbands of a â€Å"Stay at Home Mom† believe that it is easy. In the reading, the author says that mothers are face d with intensive mothering where they need to be mothers first before anything. To society, this â€Å"Stay at Home Mom† needs to justify whey she is unable to work outside of the home. There are single moms out there that work everyday so, they need to justify why they live at home.I personally believe that whether or no the mother stays at home just depends on the family situation. The children may needs extra attention that the mother needs to attend to or maybe the husband believes that his wife should stay at home and he makes enough money to take care of his family alone. It just depends I think. We also discussed what mothers should do if they work early till late. We all discussed our own experiences but mine was that my grandfather helped us out. He still does. My father works everyday almost and my mother is a teacher so they are not available during the day.My grandmother works and my grandfather is retired, so it is very easy for us to get ahold of him if we need anything especially since he lives across the street from me. I think we were just blessed to have my family so close to us that way we can help each other out. They are always there for us. Like I said, every family is different. They need to be able tot have someone there for their children when they need to be taken care of no matter if that contains extended family, a brother or sister and maybe the parents if they are available.

Essay On Social Work - 1637 Words

A social worker is someone who engages with people to address their life challenges and improve their wellbeing. They are reliable for defending the values and principles of the social work definition. The principles and values of social work are â€Å"respect for the inherent worth and dignity of human beings, doing no harm, respect for diversity and upholding human rights and social justice† (Global Definition of Social Work). Social work goes by the first, second, and third generation rights. These rights include free speech, freedom of harm, rights to an education, rights to healthcare, and rights to housing and protection (Global Definition of Social Work). Social workers are very passionate in what they do, and they make sure they carry†¦show more content†¦Some people think that being a social worker is easy, but that’s not true, they are constantly working even when not on the clock. These social workers are passionate about what they do and will do wha tever they can to make sure the children are safe. It’s very depressing working with some of the cases the social workers get, from the way families are living and the actions of the parents to the way the children are treated. Most cases social workers get are anonymous complaints, some of them will only give the child’s name and the neighborhood or general area. The social workers will then go to the school to try and get the information needed to locate the child. Although, most times when they ask for the information the school will not provide that for them without a signed form from the parents (Social Workers Battle Heavy Caseloads, Workplace Dangers). The social worker will evaluate the home to see if it is safe for the children to live there or if they need to be removed from that home. They will arrange foster homes or adoptive homes for the children. Social workers will also do home visits and evaluations of the foster or adoptive homes. At the home visits t he social worker will talk to the foster/adoptive parents to make sure all is going well. If the children are old enough to talk and understand what is going on, the social worker will talk to them as well to see how they like it and make sure theyShow MoreRelated Social Work Essay1632 Words   |  7 PagesThis essay will discuss social divisions; social exclusion and social inclusion, of which there are many definitions and interpretations. Social divisions and Social exclusion has been around for many years. Social exclusion was first noticed in France in 1970s in relation to people who fell outside the range of the social insurance system, such as disabled people, lone parents and the young unemployed (Townsend and Kennedy, 2004). Before 1997 Social exclusion was referred to as ‘poverty’, whichRead MoreEssay On Social Work1897 Words   |  8 PagesSocial work in modern day society is faced with an array of challenges making the profession a difficult and testing o ne at times. This essay will hold a focus upon social work practice in the Adult Services field. This field includes, but is not limited to, working with individuals with disabilities (physical or mental) those with alcohol or substance addictions, people experiencing psychological distress, those facing financial distress, victims of abuse, those convicted of crimes and people withRead MoreEssay On Social Work733 Words   |  3 PagesSocial work is all about understanding and making a difference in people’s lives. I am very passionate about actively helping people overcome their problems and have the best quality of life they possible can. I understand that social work is a challenging occupation; however, I believe I have the skills and determination to pursue a career in social work. My main curricular interests are in social subjects such as geography and history. I enjoy finding out about the world and the people. ThisRead MoreEssay On Social Work1415 Words   |  6 Pagesâ€Å"Social work is the professional activity of helping individuals, groups, or communities enhance or restore their capacity for social functioning and creating societal conditions favorable to this goal (Kirst-Ashman 2017)†. â€Å"Social welfare is a national system of programs, benefits, and services that help people meet the social, economic, educational, and health needs fundamental to the maintenance of society (Kirst-Ashman 2017)†. Many people agree that social welfare and social work is very importantRead MoreEssay On Social Work1512 Words   |  7 PagesThe key life experiences that have led me to choose social work as my major was because I enjoy making a difference in the lives of others. I had many years of experience working in Behavioral Health and had the privilege working with children, adolescents, as well as adults with physical and mental disabilities. I believe I have sharp knowledge of behavioral and development issues. I am a mental health specialist and would like to be a social worker. I also want to be more involved with patientRead MoreSocial Work Essay1293 Words   |  6 Pagesbecome a Social Worker. My whole life I have been described as a social butterfly. I take every opportunity I can get to be social, which is why no one in my family had any worries about my ability to make friends when I moved away from home to California State University Monterey Bay. I take advantage of every workshop, every speaker, and every event that my school offers in order to gain more insight on the Social Work profession. One of the reasons why I chose my concentration to be Social Work, isRead MoreEssay On Social Work1561 Words   |  7 PagesSocial work is my seco nd decision. I had been going to Henry Ford Community College for four years and was not sure what University I wanted to attend. I always knew the profession, I chose would primarily be focused on helping others. I thought about going to culinary arts school. However, I kept hearing the Lord lead me to social work, I was sure that helping young people has always been my calling. Social specialists don t just enable individuals to utilize their assets and insight to individualsRead MoreSocial Work Essay1360 Words   |  6 PagesThe social work profession as I understand essentially concerns the desire to help those in need of resources, services, and counsel. I consider the social work profession to be a passion-driven and providing career. I understand social work to be a profession providing helpful resources to those who seek assistance from others in various aspects, along with those who do not but can benefit. Being a social work professional means to me providing services onl y obtainable by professionals to thoseRead MoreEssay On Social Work1365 Words   |  6 Pagescontinue to educate myself so I can better serve those around me. I offer assurance to let others know they are not alone and that I will help them. I feel all these person values are very consistent with social work. The core values of social work are service which I do daily in my volunteerism. Social Justice which I also fight for daily as an advocate for special education students in my towns schools, when confronted with ignorance. I feel I combine dignity and worth of the person with the importanceRead More Social Work Essay1900 Words   |  8 PagesSocial Work Social work is located within some of the most complex problems and perplexing areas of human experience, and for this reason, social work is, and has to be, a highly skilled activity.† (Trevithick, 2000,p.1) Explain the meaning of this statement, and consider whether it is an adequate definition of the nature of social work. The aim of this assignment is to

The April 2010 BP Horizon Oil Spill in the Gulf of Mexico

These two studies investigated the effects of the April 2010 BP Horizon oil spill in the Gulf of Mexico, and the observable effects that it has had on coral reef and salt marsh ecosystems. The study conducted by White investigated nine coral communities six months after the spill using ROVs. In an area 11 km west of the spill site, the researchers studied scleractinian, gorgonian, antipatharian corals and found many that were covered with floc, a brown flocculent material, that is linked to coral tissue damage and mortality. The study conducted by Silliman et. al. investigated the oil spill impacts on the salt marshes lining the Louisiana coast. Silliman and his team identify oil spills as one of the most damaging forms of pollution due to their unpredictable nature and associated lack of readily available tools and resources that would be needed to restrict their impact on nearby ecosystems. The team studied salt marshes located in Barataria Bay, LA which was one the regions that ex perienced some of the most extensive oiling from the spill. The team investigated the current status and future impacts of the spill on the marshes. Past data revealed that negative impacts on marshes could be corrected with plant re-growth and oil degradation that naturally occurs with time, and at even faster rates in warmer climates, which provides a hopeful outlook for the LA region. In addition to the direct effects of oiling, the team also analyzed the geomorphic effects that may be aShow MoreRelatedBp Oil Explosion in the Gulf of Mexico1412 Words   |  6 PagesOn April 22 2010, the World faced one of its worst oil spill disasters in the history of marine petroleum exploration. A deadly oil well blowout at Macondo Prospect, about 41 miles off the southeast coast of Louisiana, spewed huge quantities of oil for 87 long days causing major environmental and economic troubles to the Gulf region (Gulf of Mexico Oil Spill). It started with a fire and explosion, killing 11 workers, and then unleashed a slow motion disaster that spread across the 600 mile gulfRead MoreEthical Dilemma with the Bp Oil Spill1125 Words   |  5 PagesThe BP oil spill, more famously referred to as the Deepwater Horizon Spill, occurred in 2010 in the Gulf of Mexico and flowed unmitigated for as long as 3 months. The BP oil spill has fared as the largest marine oil spill ever confronted in the history of the petroleum industry. The oil spill on the 20th of April 2010 was primarily the result of a gas release followed by an explosion in the Deepwater Horizon oil rig, in the Gulf of Mexico, established on the Mocando exploration well designed forRead MoreBritish Petroleum and Its Corporate Strategy1595 Words   |  7 Pagesthat British Petroleum (BP) adopts with specific focus on the Deep-water Horizon offshore oil spill in the Gulf of Mexico in April 2010. BP will be assessing using varied strategic theories and strategic choices will be suggested. It is commissioned for Carl-Henric Svanberg, BP s chairman. Brief Company Profile BP is the third largest energy producers in the world. The business is integrated in finding, extracting and supplying oil, gas and petroleum. BP was privatised in 1980 sRead MoreBritish Petroleums Crisis Handling Practice1113 Words   |  5 PagesINTRODUCTION In 2010 British Petroleum’s Deepwater Horizon oilrig1 suffered a devastating explosion that resulted in the death of 11 workers and initiated the largest marine oil spill the world had or has ever seen (Pallardry). This spill also became the largest offshore environmental disaster in United States history (Elliot). Over 200 million gallons of crude oil were pumped into the Gulf of Mexico (Hoch), polluting over 16,000 coastal miles in the states of Alabama, Florida, Louisiana, MississippiRead MoreThe Legal Issues and Ethical Effects of the Deepwater Horizon Explosion and British Petroleum Oil Spill in the Gulf of Mexico 20101542 Words   |  7 PagesBP Gulf Oil Spill 1 Running Head: BP GULF OIL SPILL The Legal Issues and Ethical Effects of the Deepwater Horizon Explosion and British Petroleum Oil Spill in the Gulf of Mexico 2010 Terry D. Bollman Park University BP Gulf Oil Spill 2 British Petroleum’s Roll in the Gulf Oil Spill This paper will explain some of the effects of three legal issues and three ethical issues surrounding the London-based British Petroleum Company’s involvement in the explosion of the offshore oilRead More Impact of the Deepwater Horizon Oil Spill on the Environment1549 Words   |  7 PagesThe Deepwater Horizon spill occurred on 20 April 2010 and was caused by an explosion on the Deepwater Horizon drilling rig that killed 11 workers and injured 17 more. The drilling rig, located 66 kilometers southeast of the Louisiana coast, left an oil gusher that was finally capped on July 15, almost 2 months later. This was the largest accidental marine oil spill in history and the largest offshore environmental disaster in the United States (Telegraph, New York Times, BBC News). It is estimatedRead MoreBusiness Ethics. Bp Oil Disaster – â€Å"Deepwater Horizon Oil1214 Words   |  5 PagesBusiness Ethics BP Oil Disaster – â€Å"Deepwater Horizon Oil Spill† Thelma P. Eldridge Business Law – BUS 2301.88 Spring 2017 April 25, 2017 In today’s business world, businesses are subject to the laws of the country in which their company was organized and operates. Business owners are to conduct themselves and their affairs ethically and owe some degree of social responsibility for their actions. Ethics, although not law, is a set of moral principles or values that govern the conductRead MoreBp : The Third Largest Energy Company Essay1547 Words   |  7 PagesBP, known as British Petroleum until it rebranded to Beyond Petroleum in 2000, is the third largest energy company in the world. BP has operations on six continents, located in over 80 countries, with its main headquarters located in London, UK. Its largest operating division is BP America, which is located in Houston, Texas. The Deepwater Horizon was a semi-submersible offshore drilling rig owned by Transocean. Built in 2001 in South Korea by Hyundai Heavy Industries the rig was leased to BP fromRead MoreThe Horizon Oil Rig Explosion1416 Words   |  6 Pages The 2010 Horizon Oil Rig Explosion On April 20th, 2010 an explosion occurred that would be considered one of the worst oil spills in U.S. history. The explosion was cause by a surge of natural gas that made it way to the Horizon rig’s platform that ignited. This caused the rig to capsize and sink, thus breaking risers that were being use to counter act the large amount of pressure from oil and natural gasses (Pallardy, 2015). The explosion killed 11 workers and injured 17 others. The explosionRead MoreBp Csr3693 Words   |  15 PagesCorporate Social Responsibilities and Law Contents BP Company Info 3 Deepwater Horizon Oil Spill Event 4 Summary of the Deepwater Horizon Event 5 Stock price before and after Deepwater Horizon 7 Impact on Stakeholders 8 BP’s Oil Spills and Corporate Social Responsibility 9 Inadequate disclosure on the oil spill event 11 Recommendations for BP to get reputation back 13 Conclusion 14 BP Company Info BP is a global oil and gas company headquartered in London, United Kingdom

The Principles Of Nursing Practice - 2187 Words

This essay will discuss the Principles of Nursing Practice with particular reference to Principle D. The professional, legal and ethical frameworks that guide Principle D will also be considered. The essay will relate this content to what I have read and experienced in practice. Firstly, it will give an overview of the Principles of Nursing Practice with a definition of Principle D. The essay will then explain how I witnessed Principle D being achieved in my nursing practice focussing on two patients, Mrs Kay and Patrick. To make sure I did not breach the NMC’s Code of Conduct (2015), I have used pseudonyms instead of using patients’ real names. I also informed Mrs Kay of this assignment and obtained consent to use her example in my essay. The Principles of Nursing Practice were issued by the Royal College of Nursing (RCN) in 2010, eight months following the first Francis Inquiry into poor quality care in the Mid Staffordshire NHS Foundation Trust. The principles identify and characterise the essential nursing behaviour and competencies which make safe and effective nursing care achievable. Eight Principles are prioritised. The Principles serve not only as a model for nurses to abide by in their daily practice but as a Charter for patients, their families and carers to help them judge the standard of care received. Similarly, in March 2015, the Nursing and Midwifery Council (NMC) published a Code (updated from 2008 version) on the Professional and Personal Standards whichShow MoreRelatedThe Principles Of Nursing Practice2428 Words   |  10 Pagesof the Principles of Nursing Practice and I will relate this to my practice experience. It will focus on Principle of Nursing Practice A: Dignity, humanity and equality and I will demonstrate knowledge of the Principle of Nursing Practice in my essay and investigate the professional, legal and ethical frameworks that guide nursing practice and discuss and link what I have experienced in practice to my chosen Principle. I have taken into account; The code of professional standards of practice and behaviourRead MoreEthical Principles Of Nursing Practice974 Words   |  4 PagesWhen ethics in nursing in respect to decision making is looked upon, various key areas are taken into consideration. These key areas include the nursing values, the standards, subject ethical principles and finally the fundamental beliefs in nursing. When a reflection is made on the on the key mentioned areas, it is presumed that each of them is mainly aimed at protecting human dignity and restoring respect to patients (Bush 2007). Ethical values in nursing When looking at nursing values in regardRead MoreCritically Reflect on the Principles Care , How It Impact on Professional Practice?, Relating to Nursing Pratice.2671 Words   |  11 Pagesthis essay, I will define some terms and critically review key elements, principles and Holistic approaches in Palliative care in the process relate them to my practice as a generalist nurse in a hospital setting, its impact on palliative care, and finally discuss on findings and recommendations to my practices. Palliative care is one of the most sensitive specialists in nursing today. Hence the guidance published in nursing times [2012]recommends that trusts draws up a plan to raise awareness ofRead MoreLeadership And Management Theories, Principles And Best Practice Concepts Benefit My Nursing Leadership Development2400 Words   |  10 Pagestheories, principles and best practice concepts benefit my nursing leadership development. To begin with, fundamentals of leadership are to believe in the vision and to enjoy the journey as it is a very important concept in life. Leadership define by Zuber-Skerritt (2011) as the ability to ignite a fire and influence others towards the achievement of common goals that commit to a commonly agreed purpose, such as professional, organizational and community development and advancement of practice of lifeRead MoreNursing Standard Principl1326 Words   |  6 Pagesand science editor, Nursing Standard, The Heights, 59-65 Lowlands Road, Harrow-on-the-Hill, Middlesex HA1 3AW. email: gwen.clarke@rcnpublishing.co.uk Accountability and responsibility: Principle of Nursing Practice B Scrivener R et al (2011) Accountability and responsibility: Principle of Nursing Practice B. Nursing Standard. 25, 29, 35-36. Date of acceptance: January 20 2011. Summary This is the third article in a nine-part series describing the Principles of Nursing Practice developed by the RoyalRead MoreEthics Case Study Essay911 Words   |  4 Pagesuse ethical principles to address the issues presented in the case study will be covered within the paper. A description of conflicts of this nursing student’s personal values and the ethical principles applied in this case study. The paper will describe how the ethical situation may be handled in a different healthcare setting. An identification of a professional nursing organization and describe how this organization incorporates its ethical principles into the organizations practice. An ethicalRead MoreRelationship Between Nursing Practice And Nursing Theories757 Words   |  4 Pagesof my nursing colleagues at work regarding the relationship between their nursing practice and nursing theories. I have summarized the information below in couple different examples. At the same time, all my colleagues have confirmed that their nursing education is based on nursing theory. As a leader, I want nursing practice to be guided by nursing theories and the following examples below highlight some of the nursing theories that I will continue to support in my future nursing practice. I believeRead MoreRunning Head: Accessibility Of Healthcare For Undeserved1540 Words   |  7 Pagesracial acceptance, access to care, unequal social conditions, unequal health conditions, unequal geographic conditions (Smith Parker, 2015). This paper employs a range of nursing theories to develop a framework that unearths accessibility of healthcare services by the undeserved populations as primary to the obligations of the nursing and the entire health industry. Description of the Issue Geographic, social and economic segmentation may easily categorize people into different groups. In most nationsRead MoreEssay on Four Principles of Interpersonal Communication1459 Words   |  6 Pageswhat has been noted about the four principles of interpersonal communication demonstrates that King (2000) has provided the definitive source for reviewing these issues. According to King, interpersonal communication is: inescapable, irreversible, complicated and contextual. Using these four principles as a basis for research, the current investigation provides a review of each of the four principles and the implication of each of these principles for the nursing professional. A situation is describedRead MoreNursing Philosophy and Code of Ethics Essay872 Words   |  4 PagesThere are philosophical forces that make up and direct each nurse’s practice. Burkhardt and Nathaniel (2008) note philosophy as â€Å"the intense and critical examination of beliefs and assumptions (pp. 27). One incorporates knowledge and beliefs to make up their philosophical forces. Possessing outstanding philosophical forces allows one to be respectful, well rounded and possess good character. Some examples of ways one has been respectful towards another person’s beliefs are discussed in the next paragraph

Auditing and Professional Practice Australia

Question: The engagement partner has requested a meeting tomorrow to discuss audit plan for MTI She has requested several documents for that meeting. 1. A preliminary audit plan assessing internal control risk and providing preliminary judgment for detection risk. 2. A description of specific substantive procedures that could be conducted for the WIP inventory. You are required to justify the audit plan by referring to theoretical grounds learnt from this unit. Answer: Internal control is basically the processes well designed, implemented and maintained by those charged with governance, management and other personnel. The main objective of the internal control is provide reasonable assurance about the achievement of the entity objective with regard to reliability of financial reporting. It is the responsibility of the auditor to plan the audit of the financial audit. As per ASA 300 Planning an Audit of Financial report, the partner and other the team member of the engagement team shall be involved in planning the audit. (Board A. a., 2011) As per ASA 300, the auditor shall establish an overall audit strategy that set the timing, direction and scope of the audit and that guides the development of the audit plan. In the given case also Engagement partner of Dalen jay want to hold a meeting to discuss the audit plan of MTI. Before making any audit plan the Engagement partner must identify the characteristics and scope of their Engagement in the audit of the organization. As per ASA 315 (Board, 2013) Assessing and Identifying the risk of Material Misstatement through understanding the entity and its environment the auditor should identify the risk of material misstatement in the organization, whether due to fraud or error, at the financial statement and assertion levels. Thomas Smith also needs to understand the MTI and its environment including the internal control before starting any Audit plan. This will help Mr. Smith to reduce the risk of material misstatement at an acceptable low level. Business Risk is a risk which is resulting from significant event, condition, action, circumstances or inaction that could adversely affect an entity ability to achieve the objective of the entity. MTI is basically engaged in production of environmental friendly product such as recycle containers. However, the company also deals with variety of metal as well as plastics. Audit Plan Assessing risk and Judgment in detection risk for different department of MTI is as follows: Control regarding availing service of another organization: As per Guidance Statement GS 007 Audit Implication of use of Service Organization (Board A. a., Guidance Statement 007, 2011) it is duty of the auditor to obtain understanding of the nature and significance of service provided by the service organization and their effect on the users entity control. In the given case MTI is using the service of Machining and turning center suppliers which helps MTI to develop efficient operation by furnishing sample numerical control program for standard machine operation and by providing training to employee of the employees. In regard to the Service provided by the said organization Mr. Thomas need to identify the risk and internal control of MTI to deal with such risk. It has also been observed from the past working paper that due to lack of control one of the suppliers unfortunately sent the program which was infected with virus as a result of which entire system need to be clean by Tiffany with the antivirus. To avoid this time of situation Mr. Thomas smith would ask the management to prepare a report regarding service organization system, control objective, related control which has been designed and implemented during the period. Mr. Thomas Smith can also asked for the report of the service auditor with the objective of conveying reasonable assurance that include the service auditor opinion on the description of the service organization system and control objective. Further, MTI should first install all the Software purchase from the vendor in one standalone computer and after its successful installation it has been installed to another computer to reduce the risk of virus spreading in the entire network. Further, MTI must make an agreement with the supplier in case of any infected software supplied by them, they make to make good the amount of loss caused to the company due to installation of the infected software in the system. Control regarding Equipment maintenance: As per the previous working paper it has come to notice of Mr. Thomas Smith that the company used to purchase all the equipment from Tony Lee, the owner of the computer shop conventionally located three blocks away. In this regard Mr. Thomas must ask the company to get the quotation from at least three suppliers to compare the rate of the machinery which has been supplied by Tony Lee. Further, Mr. Thomas should also ascertain that what is the company procedure to ensure that proper maintaining and upgrading of the software has been done by the Tony Lee. Further, Mr. Thomas should also ask the company regarding the frequency of the updation and should check record that whether proper up gradation at regular interval has been done or not. Control regarding accounting software password: Mr. Thomas should also ensure that every person have different password. Further a log book in the system is maintained in which the details of the person using the system and making change should be recorded in order to prevent loss of data. However, in case of any undesired situation proper record should be there so that the person can be held for such undesired situation. Backup of data: Data Backup is one of the most important task of the organization. Mr. Thomas should check the company procedure for back up of data, person who are reasonable for back up of data, time interval between two back up and what document is maintained for backup. Further, since as per the company experience of lost of back up of data Mr. Thomas should ensure that the company back up is now store at a safe place. Control regarding the company data: Mr. Thomas should check what control has been adopted by MTI regarding the employee copying the Image and take it to their home. As there might be changes of theft in which the copied image can also be given to the competitor who might misuse the image of the company. Control regarding generation of reports: Mr. Thomas should have to understand how payroll is generated. How the working hours of the employee have been recorded and who authorize the working hours. Further, Mr. Thomas should also ascertain what control has been implemented in entering the input resource in the payroll system. Whether any system of cross checking is possible or not. If the cross checking is possible, then Mr. Thomas must cross check the payroll generated with the source document for some of the weeks and give their suggestion or view on the same. After generation of pay book and during payment of money to the worker the company must take signature of the worker in the pay book in order to avoid any future litigation. Control regarding Approval and updation of Quotation in the System: Mr. Thomas must check who is authorized to approve the quotation which has been entered in the stand alone electronic data interchange system. Further, Mr. Thomas will also check how frequently the quotation is updated in the system. Further, he should also check once the quotation has been approved by the customer how payment has been received by the company and its payment term. Mr. Thomas will also made sure that proper documentation has been maintained by the company for each and individual case. Control regarding monitoring staff hours: Mr. Thomas should check what procedure has been adopted by the company to monitor the total hours worked by the staff in an organization. Further, he should also check what type of report has been generated in the organization and what procedure has been adopted to rely on such report. Thomas should must cross check the report with the device which record the sign in and sign out time of the employee in order to cross check correct pay register has been generated. Beside this he should also check that labour hour rate provided by calculation is also correct. Control regarding Accounting Entry: Mr. Thomas should check the company internal control regarding Accounting Entry such as who authorizes the voucher, when entry has been done in the system, who is responsible for Entry e.t.c. After entraining the vouchers in the system what procedure is being adopted to ensure that the entry is correct. Control regarding Check issue: No one will be issued until and unless there balance is known. Further as and when an entry has been done in the system and it has been confirmed that the balance is being due to the suppliers then only payment should b ad to the suppliers. Control regarding backup of Accounting software: Once the Entry has been completed daily backup of the Accounting Software must be taken in order to avoid any unwanted circumstances of loss of data. Mr. Thomas should check the company policy of back up of data i.e. the person responsible for data back up, type of back up and the frequency of back up taken by the representative. Answer to Question No :2 Substantive test of procedure or transaction helps to reduce the level of detection risk so that the audit objective can be fulfilled. (James, 2011) . This test helps the auditor to detect the material misstatement in the financial statement. Substantive procedure include test of details of transaction details and analytical procedure of disclosures and account balance. (Not for Profit Orgnisation, 2009). As per ASA 501 on Existence and valuation of Inventory the auditor shall obtain appropriate audit evidence regarding the existence and valuation of inventory material in the financial statement. (Board A. a., April 2006). The auditor should must use the following assertion: Presentation and disclosures Records completeness, accuracy, cut-off Obligation Valuation and allocation Existence The following Steps to be followed by Mr. Thomas for conducting WIP Audit First of all Mr. Thomas needs to check the opening balance of the WIP as recorded and reconcile/ cross check the same with the closing of financial statement of the last year. Then Mr. Thomas will check the Cost sheet statement as prepared by the clerk and cross check each and every figure of the spread sheet as provided by the accounts clerk with the data available in the accounts. Before Finalizing the value Mr. Thomas must agree with the accounting records of the MTI to ensure the completeness / correctness of the data. Thomas then checks that proper Job no. has been allocated to each jobs by reviewing the working paper and other document maintained by the client. Thomas will also ensure that the quantity entered must tally with the customer order for each job other and should review each and every job card. All the raw material and quantity used in the completion of the jobs has been properly recorded and if any quantity has been cut from the normal practice of the production procedure, then the same must be noted and authorized. Further, Thomas. Should also check what procedure is following by the company to record such situation and how quality assurance team should be aware of such practice. Thomas should then check the company procedure for valuation of the WIP, that is to say which method is followed by the company to value the company WIP and the method adopted should not differ from its accounting policy. Thomas while valuing the work in Progress MTI has taken correct rate for its material and labour. Mr. Thomas should ensure that the valuation is done as per the company changed costing and allocation method of absorption costing. Mr. Thomas should ensure that all the overhead cost has been absorbed by using absorbtion costing method rather than any other method. Thomas should understand the company procedure to record the actual hours worked by the workers on particular jobs and how these hours are being recorded and who authorize the total hours worked by the worker in particular jobs. Then the hours worked by the worker need to cross tallied from the cost sheet and the pay register along with the rate of payment. Further Mr. Thomas should also ensure that proper accounting entry has been done in the accounts department regarding booking of the wages expenses. Thomas Should ensure that each job order should sale at a price which ahs been approved as per the quotation. Further, Mr. Thomas should also ensure that the payment from the buyer has also been received as per the agreed time limit without any delay. And in case of any major delay penal interest will be charged by the company as per the company policy. Currently MTI has the policy not to take advance from the customer. However, if the customer is new and the jobs require substantive material to be purchased, then advance may be taken from the customer and the company used to make progress billing, This progress billing is then deducted from the closing WIP. Mr. Thomas should check that in case of progress billing the amount has been actually received and the same should be shown as advance in the accounts department. Thomas should also check the company policy regarding how the completion of the work has been decided and who decided the percentage of the work completion. Further, Mr. Thomas should also check the calculation done by Isabella as per the given formula to ensure that the correct calculation has been done and the closing figure of work in progress inventory has been arrived correctly. Bibliography: Board, A. a. (2011). Auditing Standard ASA 300. Planning an Audit of Financial Statement , 35. Board, A. a. (2013). Auditing Standard ASA 315. Idntifying and Assessing the risk of Material Misstatement , 48. Board, A. a. (April 2006). Auditing Standard ASA 501. Existenance and valuation of Invntory , 13. Board, A. a. (2011). Guidance Statement 007. Audit Implication of the use of Service organoztion , 45. James. (2011). Test of Control and Test of Details. 12. Not for Profit Orgnisation. (2009). SA , 10.