Planning functions of management Essay Example | Topics and Well Written Essays - 750 words

Planning functions of management - Essay Example However, Nestle usually plans for some period of time. Three to five years are more typical planning horizons. As one of the most important functions of management, planning process is based on stipulated criteria and procedures which have a great impact on planning processes. Criteria such as reduced cost, improved quality, improved sense of direction, better teamwork, and improved service delivery might be used. The timing of any evaluations should also be considered. In Nestle, the plan involves deciding upon how resources will be used to help the organization achieve its strategic goals. It relies more on past records and involves shorter time periods. Present conditions are usually dominant in the planner's mind when the organization initiates a plan and these may be overstressed. Also, many events are obviously unforeseen, but planning can be aided by techniques giving suggested probabilities of events taking place (Bateman, Snell 2004). In Nestle, a special attention is given to product quality and product standards. This policy is important because Nestle produces a wide range of food products from coffee, beverages and ice-cram to infant food and pet food. The responsibility of companies in food industry is to analyze social conditions and possible threats of their products for potential consumers. They should be well aware of regulation changes and should not sell a product which can be injurious to health. In order to meet high standards and quality, Nestle constricts its activities according to legal regulations and requirements stipulated by EU for European countries. Also, planning process include analysis of the macro-environment (e.g., economic trends, inflation, changes in citizen needs, changing demographics, etc.), the government environment (especially changing federalism and state government trends), the competitive environment (the present and potential competition, particularly as related to economic development), the citizen environment (what the service user says), and the organization's internal environment (e.g., is there antiquated technology, high turnover, many people planning to retire soon) (Boone, Kurtz, 1992). Environmental scanning will also identify a variety of factors, both internal and external to Nestle, to be considered as part of the planning process. In fact, one of the benefits of planning is that an organization will gain a better understanding of how environmental scanning should be done and be able to manage more effectively as a result. Factors to be considered as part of the macro-environmental scanning process include social factors such as demographics, financial factors such as interest rates, and political factors such as increasing government deregulation, changing federalism and state government's trends, and regulations (Campbell, 1997). Among the factors to be considered as part of the government environment are the number and locations of other governments, the degree of federal and state government presence, the typical services being provided, and the marketing strategies of other competitive local governments. Ethics and corporate social responsibilities affect all decisions and plans developed and introduced by the company. From the very beginning, Nestle clearly informs customers about threats and possible impact of products. Ethical guidelines and social responsibi

Why is it very important that this world see Jesus as Lord Essay

Why is it very important that this world see Jesus as Lord - Essay Example The scriptures encourage the believers not only to build a personal relationship with Lord Jesus, but also to love him as Lord, with all of one’s heart. In that context, it is really poignant to delve on some scriptural references that prophesied Jesus to be Lord. (Isaiah 7:14) â€Å"Therefore the Lord himself will give you a sign: The Virgin will be with child and will give birth to a son, and will call him Immanuel (God with us).† These are the words of prophet Isaiah. These words were written in the period 739-680 B.C. At this time God drove out of Judah, the Assyrian armies that had earlier taken Israel as captive. Here, prophet Isaiah intended to warn the people of Judah against the wrath of God and makes to them a promise that eventually God will comfort his people and will make them strong again. In that context, prophet Isaiah makes many prophesies about Jesus and the coming of the Lord and Savior. It specifically needs to be mentioned here that the word ‘ Immanuel’ used by prophet Isaiah to refer to Jesus means â€Å"God is with us† and hence prophet clearly prophesied that not only will Jesus come to Erath, but that Jesus is truly the Lord. Prophet Isaiah goes on to refer to the coming of Jesus as the Lord and savior of the people. (Isaiah 9:6) â€Å"For to us a child is born, to us a son is given, and the government will be on his shoulders. And he will be called Wonderful Counselor, Mighty God, Everlasting Father, Prince of Peace.† Here again prophet Isaiah goes on to prophesy that Jesus is the Lord and Savior. Prophesies about Jesus being Lord is continued on in the New Testament. The Gospels many a time mention Jesus as Lord and declare Jesus to be Lord. (John 1:1) â€Å"In the beginning was the Word, and the Word was with God, and the Word was God. He was with God in the beginning.† These are the word from the Gospel of John, written by John, one of the disciples of Jesus. In this Gospel John writes about the period A.D. 26-30, when Jesus taught and performed miracles. The Gospel of John clearly shows to the people that Jesus is Lord. Believing the scriptural evidence that confirms Jesus as Lord, it is the duty of people to totally surrender to Jesus, as one surrenders before one’s Lord. Going by the fact that Jesus is Lord, it is the duty of the believers to live for Him. 2. There exist ample scriptural references that testify beyond doubt that Jesus was the Messiah. For instance, when around 627 B.C., when people of Judah mocked and hated prophet Jeremiah, he prophesied the mercy of God, and the restoration of the people of God, through the coming of Messiah by saying that: (Jeremiah 23:5-6) â€Å"The days are coming, declares the Lord when I will raise up to David a righteous Branch, a King who will reign wisely and do what is just and right in the land. In his days Judah will be saved and Israel will live in safety. This is the name by which he will be called: The L ORD our Righteousness.† Yet history has stood witness to the fact that time and again people have failed to comprehend Jesus being the Messiah. Jesus himself predicted that He will be rejected by people as a Messiah. In Mark 12 Jesus clearly testifies to this fact. For one, Jesus was rejected by people of Israel because Jesus was quite contrary to what the expected the Messiah to be. They held that the Messiah will uproot the enemies of Israel and not crucified. Many of the people of Israel believed that to be hanged on a tree meant to be cursed by God. (Deuteronomy 21:23) â€Å"You must not leave his body on the tree overnight. Be sure to bury him that

Convergence between GAAP and IFRS Research Paper

Convergence between GAAP and IFRS - Research Paper Example In 2008, FASB reorganized the many accounting principles into only 90 topics. In the same year, the Securities and exchange commission granted a roadmap that would eventually change the US use of the GAAP as accounting rules and adopt the most widely used IFRS rules, by the year 2011 (Bradshaw, 2010). The full adoption of the IFRs was projected to be accomplished by 2014. On the other hand, the history of the IFRS can be traced to 1966 when a proposal was issued to establish a study group consisting of various accounting bodies from England, USA, Canada, and Wales, which would study the possibility of establishing accounting standards that could be universally applied to guide the accounting functions of organizations the world over. In 1967, the Accountants International Study Group, tasked with the responsibility of creating the appetite for change in accounting standards, was created. The body published articles every few months on the need for change until 1973, when Accounting S tandards Committee was formulated to develop accounting standards for international use (Ball, 2006). This was followed by the establishment of the Standing Interpretations Committee to resolve the contentious issues that were arising from the standards crafted by the Accounting Standards Committee. ... By the year 2003, the International Financial Reporting Standards were first published and adopted. In 2005, the European Union adopted the standards and later all the companies in the UK were supposed to present their financial statements using these standards for their financial years commencing January 2005 (Bradshaw, 2010). The current status of the GAAP and IFRS depicts some differences in some of the accounting principles. The differences in their statuses are in terms of the impacts of the accounting standards on the financial statements provided by organizations (Wiley, 2007). Consolidation is the first of this impact where IFRS applies control model while the GAAP prefers the risk and rewards model (Bradshaw, 2010). In the preparation of the statement of income, the IFRS requires that extraordinary items are not segregated while the same are shown below the net income under the GAAP standards. Inventory is another difference currently portrayed by the preparation of the fina ncial statements under the two standards. Under the IFRS, the use of the historical method of managing stock LIFO, where the last item to be bought in the inventory list becomes the first to be sold, is prohibited. Under the GAAP system, however, organizations have a choice between the use of that historical method and the FIFO inventory management system where the first item in the inventory list becomes the first to be sold by a business entity (Ball, 2006). Under the IFRS system, the earnings-per-share calculations do not call for the averaging of the individual interim period, while under the GAAP the computation takes the averages of the individual interim period incremental shares (Bradshaw, 2010). Finally, under the IFRS

Sources of Measurement Error Essay Example | Topics and Well Written Essays - 500 words

Sources of Measurement Error - Essay Example Essentially, this combining of theoretical with empirical, permits as well as justifies the use of measurement, and stringent observance of these rules, allows for better and more accurate methods for describing behaviors or in making predictions. These take on their specific meanings through the following and now widely used scales of measurement, namely, nominal ordinal, interval, and ratio. Classifications, which by using a system of numbers, find common consent among scientists. Here then, consensus must come over how these numbers represent different agreed-to values, in order to sensibly group, sort, or differentiate between data. These numbers are ordered: that is, 'one number is greater than, less than, or equal to another number'.i Differences connecting numbers create what is called distance between them, allowing for a scale of measurement, for example, by agreement that zero stands as the origin number, we might simply assign numbers to the above quotation. Thus, it is possible to state clearly and unambiguously that the number value one is less than the number value two, and the number value three is more than the number value two. One factor of abstract models, is their use in designing and performing studies that measure real-world variables