Top Eric Clapton Songs of the 80s

The Secret of Success - 1246 Words

THE SECRET OF SUCCESS -Khupkhogin Khongsai INTRODUCTION Everyone wants to learn the secrets of being successful in life. There are many people who have achieved success in this world. Success doesn’t come to those who wait†¦.. And it doesn’t wait for anyone to come to it. Most successful men have not achieved their destination by having some new talent or opportunity presented to them. They have developed the opportunity that was at hand. The difference between failure and success is dong things nearly right and doing a thing exactly right. Nobody is born a success, they create it. Knowing the secrets of success and correctly implementing them will certainly help one to achieve success in life. WHAT IS†¦show more content†¦In the maintenance phase, you have to learn how to transform your desires and dreams into realities. Your have to find our what motivates you and this will be helpful to your to recover from the temporary lapses. PRINCIPLES OF SUCCESS There are distinctively principles of success that must be followed in order to achieve success. 1. Single mindedness: Single mindedness is all powerful. By setting priorities and concentrating single mindedly, you can accomplish anything in life. 2. Will-power: If you want to create anything it is not enough to imagine. You must use your will power. Using the will is simply a matter of focusing your intent. The more intent you are the more you will succeed. 3. Purpose: doing things on purpose. When you allow yourself to act accordingly to your intentions and do things on purpose, you will find yourself getting more and more of what exactly it is you want. Keep your primary focus in mind and not lose track o what you want. 4. Focus: The secret of success is focus. What you focus is what you get. The success of anything you do begins with focus. When you focus on the work at hand, you will start to thoughts about it that you can work on. If you want to achieve m aximum and fastest results, keep on focusing your goal. 5. Goal setting: Cleary determine what the goal is. Be specific. Once you have defined what it meant to achieve success for yourself, your nest step is to set goals that will leadShow MoreRelatedSecrets to Success741 Words   |  3 PagesSecrets to success It has been argued in different avenues that the meaning of success is relative. To some it means being rich, having a happy family, having a well paying job, owning a blue-chip company (The list is endless). The best meaning of Success that I have come across is that Success is the completion of anything intended. In other words success is finishing what you planned to do. From this, success doesn’t necessarily mean being number one; it means achieving your target within theRead MoreThe Secret Of A Success992 Words   |  4 PagesThe Secret to a Success The Zappos organization, in my book, is considered scarce in the aspect of customer service. There are little to no company that can even compare to its outstanding and distinguish customer service that they provide. I will be discussing several aspects of the Zappos organization in this paper. Initially, I have dealt with numerous online organizations including small and well established ones, but their customer service paled in comparison to Zappos. For instance, the wayRead MoreSecrets of Success629 Words   |  2 PagesAs Richard St. John (2005) points out, the secrets of success are remarkably simple. Common sense and old-fashioned wisdom embedded in concepts such as hard work and perseverance are better than any number of complex motivation seminars or expensive programs of self-improvement. This is as true for organizational culture as it is for individual motivation. 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Online however, and r ecommendationsRead MoreThe Secrets Of Success Topic1173 Words   |  5 PagesSecrets of Success Topic: How to Make More Money By Bobby Wan | Submitted On January 09, 2008 Recommend Article Article Comments Print Article Share this article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest Expert Author Bobby Wan In order to make more money, we need to first understandRead MoreThe Secret of Wal-Marts Success1044 Words   |  5 PagesThe world s largest retailer, Wal-Mart, is moving into Europe, and the UK is its second target after Germany. BBC News Online s Tim Weber looks at the secrets behind the company s success. 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Ijarah Definition of Financial Times Lexicon Sample

Question: The Ijarah contract is said to be similar to conventional leasing. Explain the range of Ijarah-based contracts used by Islamic Financial Institutions. With reference to operating and financial leases discuss the similarities and differences between Ijarah and leasing. Outline how any differences in contract lead to differing accounting treatment of these contracts. Discuss the AAOIFI standards and IFRS recommended accounting treatment of the Ijarah/leasing contracts. Suggest ways of reconciling any variations in interpretation. Answer: Introuction This research paper would explain the concepts, roles and importance of the Ijarah contract in the form of conventional leasing. In adition to this, it should also be noted down that, this research paper would also explain the range of Ijarah-based contracts used by Islamic Financial Institutions. On the other hand, with reference to operating and financial leases, this research paper would discuss the similarities and differences between Ijarah and leasing. At the same time, this rserach paper would also help the readers in understanding that how any differences in contract lead to differing accounting treatment of these contracts. Apart from this, this paper would also discuss the AAOIFI standards and IFRS recommended accounting treatment of the Ijarah/leasing contracts. Finally, this paper would also suggest different ways of reconciling any variations in interpretation. Moreover, it should also be noted down that, this research paper would also be more beneficial, helpful and effective for the readers, researchers and students in understanding a wide range of topics in the area of Islamic finance. At the same time, this paper would also be more effective and appropriate in using concepts of Ijarah contract in the form of conventional leasing. So, this this paper would be more beneficial and effective. Reserach Methods In order to fulfil the research objectives and aims in the context of this paper, secondary source of information are used so that associated outcomes can be achieved in an effective and proper manner. For case, for this research paper, books, research articles, published material, current news etc are used as means of secondary source of information in order to collect the information asocisted with the topics. Ijarah Contract Ijarah contract is the maid of the arabic word ijara that means the providing services and goods temporarily for a wage. It indicates the ijarah contract means providing products and services on a lease or rental term. In the Islamic banking, the ijara contract is given the right to use the object of a person or party for a period of time but the owner retains the ownership of the assets. The ijara contract is similar to a lease in thier the owner rents or leases his property or goods to a lessee for a fee or rent for a specified number of periods (Saleem, 2012). The ijara contract in the Islamic banking is necessary of the same design as an instalment leasing agreement. For example, in ijara contract, th lessor is responsible for najor maintenance in the conventional lease contracts. The Islamic Finance Accounting Standard (IFAS) Ijarah was issued by the Insititute of Chartered Accounts of Pakistan and its notification SRO 431 (i)/2007. IFAS becomes operative for financial ststements covring periods after July 01, 2007. The following features of ijara based lease contract is differentiate from a conventional lease: The lessor must own the assets for the full lease period If the lessee fails to payments or delays payments then the lessor can not have right to charge compound interest (Ahmad, 2009) The leased assets is used by lesser for special perspose that is mentioned in the contract. Ijara is an exchange transaction in which a known advantage emerging from a predetermined resource is made accessible consequently for an installment, however where responsibility for resource itself is not exchanged. The ijara contract is basically of the same outline as a portion renting assention. Where altered resources are the subject of the lease, such can come back to the lessor toward the end of the lease period, in which case the lease tackles the highlights of a working rent and hence just a part amortization of the rented resource's quality results. In an option approach, the renter can concur at the start to purchase the benefit toward the end of the lease period in which case the lease tackles the way of a contract buy known as ijara wa iqtina (actually, rent and possession). A few legal scholars don't allow this last plan on the premise that it speaks to pretty much an ensured monetary return at the beginning to the lessor, similarly as a present day interest-based mone y lease. The terms of ijara are sufficiently adaptable to be connected to the contracting of a worker by a head honcho consequently for a lease that is really an altered compensation (Iqbal Mirakhor, 2011). Some for the most part concurred conditions for ijara are as per the following: The leased item should be exchanged to the resident on consummation of the lease understanding and ought to be of a condition that is fit for execution of the obliged undertakings. The lessor ought to exchange the rented things to the renter in their finished structure. The lessor should transfer the leased items to the lessee in their completed form. The usufruct of the leased item should have value (Ahmad, 2009) The sum and timing of the lease installments ought to be concurred ahead of time, however the concurred timetable and measure of those installments require not be uniform. The lease installment timetable gets to be dynamic upon complete securing of the usufruct of the rented products, whether such usufruct is indeed delighted in by the lessor or not. The time of the lease must be determined. The states of utilization of the rented things must be expressed. The lessor must have full ownership and legitimate responsibility for resource preceding renting it (Eisenberg, 2012). The leased asset must keep on existing all through the term of the lease. Things which are devoured during the time spent utilization, ammo for case, can't be rented. In contrast with most traditional fund rents, the obligation regarding support and protection of the rented thing under ijara remains that of the lessor all through. A cost can't be foreordained for the offer of the benefit at the expiry of the lease. Notwithstanding, lessor and resident may concur the continuation of the lease or the offer of the rented advantage for the renter under another understanding toward the end of the starting lease period (Ayub, 2009). In the occasion generally installment of rental, the ijara may be ended quickly. The lessor may guarantee pay for any harm brought on to the rented resources as an aftereffect of care. In recent times, many Ijarah-based contracts or products used by Islamic Financial Institutions with different combinations of contracts such as ADCB (Abu Dhabi Commercial Bank) offers ijara home financing, as does SABB (Saudi British Bank) Amanah. Moreover, Maybank Malaysian-based institute offers car financing with a combination of an ijara contract and a bai (purchase) contract (Iqbal Mirakhor, 2011). According to the sharia principles, the mainly three types of Ijarah-based contracts or ijara arrangements exist in the Islamic Financial Institutions these are: Lease-ending ownership/lease with ownership (ijara muntahia bitamleek/ijara wa iqtina): In this ihara contact, the leaseholder (lessee) the leased asset at the end of lease period. This contract does not contain any promise to buy and sell the assets at the end of lease period but the bank may offer a verbal promise of transfer of ownership or purchase schedule for the asset (Ayub, 2009). It means in this contract, the leaseholder is also allowed to mke a verbal promis to purchase the asset. In this situation, the purchase price is decided on the basis of market value of the asset or a negotiatible price. Operating lease (operating ijara): Operating lease ijara-based contract does not included any promise related to purchase the asset at the end of the lease contract. Moreover, this ijara contract is the hire arrangement or contract with the lessor only (Mourik Walton, 2013). Forward lease (ijara mawsoofa bil thimma): Forward lease ijara-based contract is a combination of redeemable leasing and construction finance (istisna) agreement. This lease is accomplished for a future date, so it is called forword leasing. Forward lease ijara-based contract purchase the project (generally a construction project) as a whole at its closing or completion (Eisenberg, 2012). Major Differences Between Acciounting of Ijarah and Finance Leasing The below table indicates the major differences in the finance leasing and ijarah leasing: Finance leasing Ijarah Based Leasing Leases are recorded ad financing in the book of lessor (the bank) Ijarah assets are recorded at cost less accumulated depreciation and impairment. Un-earned income such as exceess of the agreegate rentals over cost of the asset are recorded at the inception of lease and amortized over the lease tearm Rentaal from ijarah is only recognized as income on accrual basis. Profision against doughtful debts is calculated on the basis of creterial given in prudential regulations for banks Costs included depreciation is charged to income statement Leases are disclosed net of provision, income suspense and unearned income. Assets leased out should be classified according to its nature and distinguished from the assets in own use such as plant, machinerary, vehicle, etc. Revenue is recorded to the extent of income portion of the rentals based on the manner that produce a constant rate of return. Lessor should make an imparment testing for the asset on a regular basis according to the requirements of IAS 36 (Impairment of assets). (Source: Iqbal Mirakhor, 2011) Differing Accounting Treatment of These Contracts Ijarah accounting policy is the different with the lease accounting that are described in the below: Ijarah Asset Recognistion: All ijarah transactions are to be recorded as Asset Acquired dor Ijarah at sum of all cost incurred through the bank in acquiring the asset. The other terms are: Assets are to be expressed at their cost less accumuled depreciation and impairment if any. Depreciation on asset is to be charged to income applying the method that reflects the pattern in that the asset future economic benefits are expected to be consumed by the bank. In consider of addition and disposal of assets, depreciation of asset will be charged from the month of acquisition till the month of disposal (Ayub, 2009). Revenue recognition: In Ijarah lease contract, rentals are to be recognized as income on accrual basis over the lease period in a systematic manner. Expenses recognise: In Ijarah lease contract, carring costs including depreciation and incurred in earning the Ijarah income are recognized as an income in the owner or bank income statement (Eisenberg, 2012). AAOIFI standards and IFRS Accounting Treatment of the Ijarah The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards and International Financial Reporting Standards (IFRS) recommended of nthe banks, financial institutes and owners regarding the accounting treatment of the Ijarah/leasing contracts. The below table described the key differences of accounting treatment between IFRS and AAOIFI: Item IFRS (IAS 17) AAOIFI (FAS 8) Classification of leases Lease is named a money lease on the off chance that it exchanges generously all the dangers and prizes accidental to possession. A lease is named a working lease in the event that it doesn't exchange generously all the dangers and rewards accidental to proprietorship All leases should be classified as an operating lease. Ijarah ending with an exchange of possession ought to be dealt with as two different exchanges of working lease and deal, and not as a money lease. Leases in the financial statements of lessees At the beginning of the lease term, residents should perceive money rents as resources and liabilities in their announcements of budgetary position at sums equivalent to the reasonable estimation of the rented property or, if bring down, the present estimation of the base lease installments, every decided at the commencement of the lease. The markdown rate to be utilized as a part of computing the present estimation of the base lease installments is the interest rate understood in the lease, if this is practicable to focus; if not, the renter's incremental obtaining rate might be utilized. Any starting direct expenses of the tenant are added to the sum perceived as a benefit (Ayub, 2009). In the event of Ijarah consummation with an exchange of possession, the tenant would perceive lease installments as costs all through the lease term. At the point when the benefit is exchanged to the tenant, the resident would perceive the advantage obtained (Eisenberg, 2012). Leases in the financial statements of lessors Lessors might perceive resources held under a fund rent in their announcements of monetary position and present them as a receivable at a sum equivalent to the net interest in the lease In the event of Ijarah consummation with an exchange of possession, the lessor would show a benefit in its announcement of budgetary position, and perceive lease portions as income all through the lease term. At the point when the advantage is exchanged to the tenant, the lessor may perceive an increase or misfortune on transfer. (Source: Atmeh Abu-Serdaneh, 2012) Recommendations and Conclusion On the bsis of above disucsion, it can be recommended that, there are different ways, strategies, approaches and methods can be used in order to reconciling any variations in interpretation. For example, the analysis about the financial statements or records is one of the most significant methods that can be used in an effective and more significant manner. Along with this, it can also be concluded that, Ijarah Contracts are playing a major role in the development of the Islamic fincial systems (Godfrey Chalmers, 2007). In addition to this, all these are the financial instruments that are also playing a more significant role in the improving the overall growth of Islamic economy in an effecvitve and porper manner. At the same time, it can also be suggested that, the government organizations in the Islamic economic should conduct and provide specific guidleines, rules and regulations so that innovativenes and reliability of such financial instrument can be improved in and effective a nd more significant manner (Ayub, 2009). References Ahmad, A.U.F. (2009) Theory and Practice of Modern Islamic Finance: The Case Analysis from Australia. USA: Universal-Publishers. Atmeh, M. A., Abu-Serdaneh, J. A. R. (2012). A Proposed Model for Accounting Treatment of Ijarah. International Journal of Business and Management, 7(18), p. 49-56. Ayub, M. (2009) Understanding Islamic Finance. USA: John Wiley Sons. Eisenberg, D. (2012). Islamic Finance: Law and Practice. USA: Oxford University Press. Iqbal, Z. Mirakhor, A. (2011) An Introduction to Islamic Finance: Theory and Practice (2nd ed.). USA: John Wiley Sons. Saleem, M.Y. (2012). Islamic Commercial Law. USA: John Wiley Sons. Mourik, C. Walton, P. (2013). The Routledge Companion to Accounting, Reporting and Regulation. UK: Routledge. Monash studies in global movements series Godfrey, J.M. Chalmers, K. (2007). Globalisation of Accounting Standards. UK: Edward Elgar Publishing.

Reflective Essay Essays (1119 words) - Contemporary Christian Music

Reflective Essay My beeper goes off and I'm called to the school office. I'm told that I'm supposed to be taken to St. Louis in a helicopter as fast as humanly possible. This was the day that would change my life forever.... and I didn't even know it. I was the only child in the Jr. high that wore a beeper, some kids thought it was weird and some thought I was I lucky that I even got to wear a one. I didn't think I was so lucky, the reason I had happened to be wearing this pager was because my mother was dying. My mom had a rare disease that attacked her lungs, much like cigarettes deteriorate your lungs, but a hundred times worse. This disease was called Alpha-1 Antitripsin Diffisionsy. I had never known my mother to not be so sick. Ever since then we have to stop every few feet in the mall so my mom can even catch her breath. This pager going off meant that my mother could have a chance to live long enough to see me grow up a little. For the next three years my family went through hell and back aga in, and I'm about to tell you how that huge part of my life has made me who I am today. We arrived at St. louis Barnes Hospital early that afternoon. When we go there they rushed my mom in for prepping, we got to say a short goodbye not knowing if we would see her again. The surgery lasted eight hours, eight hours that we knew basically nothing. That whole eight hours lasted forever, and sleeping on waiting room couches didn't help much. After the long awaited eight hours, we heard that she was in Intensive care and that we could relax a little now. Knowing that we got a Morgan 2 hotel room and stayed the night. Life after that night went so fast from then on. In one single day I went form going to school with my friends to a helpless mom in a town I had never seen before, feeling all alone. The next day we got an apartment set up and school lined up so my sister and I wouldn't fall behind. My parents were all about keeping us in check with our education so we could grow up and make something of ourselves. Through out the next three years many great and horrible things happened. My mom came out of the surgery in good pretty good shape, for the next three months, the only way I could see my mom was if I scrubbed up and put on rubber gloves so as not to infect my mom in any way. During those three years I didn't get to see much of my parents, they were always gone. They were either at the hospital or either at the hospital. It went from drastic change of being momma's boy to raising yourself in the slums of St. louis by yourself in seventh grade. If you could think it, it went wrong in St. Louis. Some of the things you wouldn't even think off, for instance, There was a man shot in the head while driving his car just down the street from me. The sad thing is that his family was watching on , and I will never get that picture out of my mind no matter how long I live. Death seemed to surround us down there. Only being around transplant patients didn't help much either. I met a boy a little younger than me at the time whom was waiting for a heart and lung transplant. His name was Dave, one of the quietest most nice guys you could ever meet. He would give everything up just to make someone else happy. Well I knew dave for about a year and then he started to go down hill, slowly I noticed it was harder for him to go anywhere, he couldn't even stay past nine anymore. I woke up one day and went to school as normal, I knew dave was going in for check ups that day, but when I got home I found out that dave had passed away

Kate Chopin Essays (1909 words) - Frdric Chopin, The Awakening, Edna

Kate Chopin Kate Chopin Kate Chopin is one of the first female writers to address female issues, primarily sexuality. Chopin declares that women are capable of overt sexuality in which they explore and enjoy their sexuality. Chopin shows that her women are capable of loving more than one man at a time. They are not only attractive but sexually attracted (Ziff 148). Two of Chopin's stories that reflect this attitude of sexuality are The Awakening and one of her short stories ?The Storm?. Although critics now acclaim these two stories as great accomplishments, Chopin has been condemned during her life for writing such vulgar and risqu? pieces. In 1899 Chopin publishes The Awakening. She is censured for its ?positively unseemly? theme (Kimbel 91). Due to the negative reception of The Awakening Chopin never tries to publish ?The Storm?. She feels that the literary establishment can not accept her bold view of human sexuality (Kimbel 108). Chopin definitely proves to be an author way ahead of her time. The Awakening is considered to be Chopin's best work as well as a unlikely novel to be written during the 1890s in America. The Awakening is a story about a woman, Edna Pontelier, who is a conventional wife and mother. Edna experiences a spiritual awakening in the sense of independence that changes her life. Edna Pontellier begins her awakening at the Grand Isle when Harmon 2 she is 28 years old. She has been married for ten years, and she has two children. This situation proves to be different from the male characters of most other novels because they almost always do not have to face the complications of marriage and parenthood to reach self-determination (Bogarad 159). Chopin is able to portray this awakening through Edna's relationships with her husband, children, Alcee, and Robert. Kate Chopin always writes about marital instability in her fiction (Wilson 148). The first way in which Chopin is able to portray an awakening by Edna is through her relationship with her husband, Leonce. Chopin describes Leonce as a likable guy. He is a successful businessman, popular with his friends, and devotes himself to Edna and the children (Spangler 154). Although Edna's marriage to Leonce is ?purely and accident?, he ?pleases her? and his ?absolute devotion flattered her? (Chopin 506). However, it is clearly obvious to the reader the Leonce acts as the oppressor of Edna (Allen 72). When the reader first sees them together, Leonce is looking at his wife as ?a valuable piece of personal property which has suffered some damage? (Chopin 494). The most important aspect to Leonce is making money and showing off his wealth. He believes his wife's role to be caring for him and his children. Therefore, the first step toward her freedom is to be free of his rule. Edna is able to accomplish this first by denying Leonce the submissiveness which he is accustomed to. She does this by abandoning her Tuesday visitors, she makes no attempt to keep an organized household, and she comes and goes as she pleases (Chopin 536). The next big step in gaining her freedom from her husband is when she moves into a house of her own while Leonce is away taking of business. She does not even wait to see what his opinion of the Harmon 3 matter is (Chopin 558). It is quite evident the only thing Leonce worries about is what people are going to say. Therefore, he begins to remodel the house so it does not appear that Edna has left him. ?Mr. Pontellier had saved appearances!? (Chopin 565). Leonce never really understands what happens to his marriage with Edna. Instead he has to face the fact that he as well as the children are of no consequence to his wife (Spangler 154). There is also the fact that divorce is not a consideration because in the 1890s this right has not been generally recognized. The reader must understand that as a matter of historical fact her options are different from modern ones (Allen 72). Secondly, Edna must become free from her children. For many years Edna has been a good mother, but now she sees her boys as an opposition. Therefore, she refuses to live for them, but rather for herself (Seyersted 151). While at the Grand Isle Edna tells one of her good friends, Madame Ratignolle, that she ?would give my life for my children; but I would not give myself? (Chopin 529). Edna believes that she can direct her own life, but

What Freezing Point Depression Is and How It Works

What Freezing Point Depression Is and How It Works Freezing point depression occurs when the freezing point of a liquid is lowered or depressed by adding another compound to it. The solution has a lower freezing point than that of the pure solvent. Freezing Point Depression Examples For example, the freezing point of seawater is lower than that of pure water. The freezing point of water to which antifreeze has been added is lower than that of pure water. The freezing point of vodka is lower than that of pure water. Vodka and other high-proof alcoholic beverages typically dont freeze in a home freezer. Yet, the freezing point is higher than that of pure ethanol (-173.5Â °F or -114.1Â °C). Vodka may be considered a solution of ethanol (solute) in water (solvent). When considering freezing point depression, look at the freezing point of the solvent. Colligative Properties of Matter Freezing point depression is a colligative property of matter. Colligative properties depend on the number of particles present, not on the type of particles or their mass. So, for example, if both calcium chloride (CaCl2) and sodium chloride (NaCl) completely dissolve in water, the calcium chloride would lower the freezing point more than the sodium chloride because it would produce three particles (one calcium ion and two chloride ions), while the sodium chloride would only produce two particles (one sodium and one chloride ion). Freezing Point Depression Formula Freezing point depression can be calculated using the Clausius-Clapeyron equation and Raoults law. In a dilute ideal solution, the freezing point is: Freezing Pointtotal Freezing Pointsolvent - ΔTf where ΔTf molality * Kf * i Kf cryoscopic constant (1.86Â °C kg/mol for the freezing point of water) i Vant Hoff factor Freezing Point Depression in Everyday Life Freezing point depression has interesting and useful applications. When salt is put on an icy road, the salt mixes with a small amount of liquid water to prevent melting ice from re-freezing. If you mix salt and ice in a bowl or bag, the same process makes the ice colder, which means it can be used for making ice cream. Freezing point depression also explains why vodka doesnt freeze in a freezer.

English Essay Example | Topics and Well Written Essays - 500 words - 3

English - Essay Example And then there are occasions when expectations are heavily betrayed. My emotions are not a science. I would much rather place them loftily on the pedestal of art. They are free, function for their own wellbeing, and can hardly be stopped, even when I wish not to feel anything as I recently learned. I used to confidently categorize myself as a rational person and chose not to give into my petty emotions when I could avoid it. However, unfortunately, I experienced, this is not always the case. A recent, very strong emotional reaction I exhibited led me to re-evaluate myself and question whether I truly am as rational and immune to ‘silly’ emotions as I believed myself to be. A very close friend had been searching for a silver pendant with a Christian cross insignia. After failing to find one she felt exhibited her simplicity (most of them were too decorative for her), she gave up. Only a few days before her birthday, I managed to find a sleek yet simple silver cross and excitedly told her that I had bought it for her birthday. On our next phone call, she informed me she bought the exact same pendant that she happened to find at the mall for herself. On the phone, I said nothing. Made light of it, as if it were not a big deal, and as if it did not bother me that she chose to lower the significance of my gift by getting another one herself. I was to drop by her place for her birthday, and that is what I still intended to do. Emotional reactions can occur when an individual â€Å"chooses to react emotionally rather than react adaptively to a situation†. (Mascolo & Griffin, 149) And this is indeed what I chose. So on that celebrative day, I arrived at her place which was full of guests, most of them whom I knew. As I entered, I could feel a change come over me. I felt surly, annoyed, and vindictive. I behaved moodily with the

Strategic Management Resit Report Essay Example | Topics and Well Written Essays - 1000 words

Strategic Management Resit Report - Essay Example Since every organization wants to acquire competitive advantage therefore it was difficult to make strategies based on the external business environment due to homogeneity. However, resources such as reputation, credibility of employees, training and development methods etc. may vary from organization to organization and they are significantly hard to replicate (Gupta et. al., 2007). In the contemporary business environment resources based view of strategic management holds a remarkable position. Ever since it has emerged different critics have argued upon its importance in strategic management while some have defended its importance in attaining business superiority. Whatever the case may be one thing is obvious that resource based view in strategic management has actually strengthened the organization’s core values and integrity while improving the overall ethical conduct (Priem and Butler, 2001). This paper aims to investigate Resource Based View and its relevance with Stra tegic Management. Moreover its role in achieving competitive advantage particularly in an educational institution would be discussed with a case example. Discussion The theory of growth of a firm has actually laid down the foundation of resource based view in strategic management. An individual firm has a number of valuable internal resources which are mostly unique in terms of quality and quantity. For instance, the financial resources including all the monetary reserves, credits, accounts receivables etc., plant resources such as land and equipment, human resource which represents the nature of employees’ intellect, skills and credibility. Moreover the knowledge and expertise of an organization in industry and the overall management structure including planning and reporting are the important internal resources (Harrison, 2012). All of these are then combined with the strategic policies of an organization. The distinguishing nature of resources constitutes an organizationâ €™s core values which play a vital role in its overall success or failure. The accurate utilization of all these resources actually represents profitable long term strategic management which is a significant element of competitive advantage. The relevance of resource based view to strategic management can be substantiated on the basis of the fact that organizational strategies largely focus on increasing revenues while occupying unparalleled market share in the industry. On the other hand the sole purpose of resource based view is to achieve competitive advantage which makes it internally linked with the strategic management (Akio, 2005). Competitive Advantage Resource based view in strategic management plays a significant role in acquiring competitive advantage. For instance, if the Corporate Planning Department of a university requires maintaining distinctiveness in its management policies and customer services then it would need to implement resource based view in the followi ng pattern (Knott, 2009): Initially the organization would have to analyze its fundamental possessions including financial resources, plant resources and human resources. These are then divided on the basis of distinctiveness in the industry and overall participation in carrying out different business

BBUS 381 A1 Essay Example | Topics and Well Written Essays - 1750 words

BBUS 381 A1 - Essay Example Take an assumption that employees within a company have their own goals, and personalities. On this basis, employees cannot be perceived as part and parcel of the organization (Dressler, Reka and Cole, 2011). The principles of human resource management hold that the company should enact group and individual psychology for purposes of making these employees to strive in achieving the goals of the company. On this basis, human resource management aims at achieving the strategic goals of an organization by retaining, attracting and developing the talents of its employees. Dressler, Reka and Cole (2011) observe that human resource management acts as a link between the employees and the management of the organization. Human resource management helps an organization to develop strategies that will assess the various needs of its employees, and thereafter develop methods that will make these employees view their positions as part of their everyday responsibilities (Fudge, 2012). On this bas is, human resource management is a very important element in an organization because it creates loyalty amongst the employees of the organization improving their efficiency in their work place. ... For instance, the company has a human resource department, which is charged with the responsibility of identifying talented individuals to work within the company (Chang, 2012). The company has a human resource development center, which is tasked with the responsibility of training its employees on how to meet the objectives of the organization. The center is also responsible for developing the skills of the various employees that the company employs. This is for purposes of ensuring that these skills are effectively utilized within the company (Fudge, 2012). The human resource development center is also responsible for identifying the various needs of the company’s employees, and methods of satisfying those needs. This is because the aim of this process is to create loyalty amongst its employees; as a result there will be an increased efficiency in their roles. Chang (2012) observes that the company has a reward system, where employees are recognized for their performances, a nd rewarded by the organization. The rewards can either be monetary, or take the form of promotions within the organization. As a result of this policy, the employees of the organization are always working hard, with the hope of getting a promotion, or a reward. These human resource strategies by Samsung have made the company to be one of the leading electronic companies in the world. Part B: Samsung Group is a company from South Korea, with a global presence. The head quarter of the company is in Seoul, in a town referred to as Samsung. Samsung has an interest in the food processing sector, the electronics industry, insurance, and the retail industry. In 1987, the company operated under four business groups which are the Hansol

Diamond Foam Business: Marketing Strategies Analysis

Diamond Foam Business: Marketing Strategies Analysis Executive Summary This study falls into three parts. The first part gives operations/transformation process in Diamond Foam and Pak Electron LTD.In this part the different strategies like marketine,competitive priorities and corporate strategies has been discussed for each organization.In second part the different concepts or frameworks like inventory management, performance measurement, total quality management, capacity planning and supply chain design has been taken. I have taken different case studies to explain the different methodologies. In the third part the impact of the different concepts and frameworks has been shown on each of the organization. a) Marketing Strategies of Diamond Foam Positioning Strategy Customer perceives Diamond Foam is high quality foam. Foam is high involvement product and people see price and quality before purchase it. Target Market Diamond Foam has broad target market in Pakistan because any product requires foam is their target market and person used that foam is their target customer. Customers in south region are furniture showrooms and in north region are dealers and they not sell their products to end-users. Diamond Foam used product development strategy with different product in current market. Marketing Mix Strategy Product Products that are sold by Diamond Foam are Spring mattress Bed sheets/comforter Foam mattress Foam products Quality Quality aspects of Diamond Foams products are given below. Complete peace of mind for their customers Diamond Foam never foregoes their responsibility in complete quality control. A good mattress isnt just dependent on its high quality standard but also the quality of after-sale service that gives you lasting comfort and security. Diamond Foam has a quality control department who manufactured products and processes according to SOPs (Standard Operating Procedures) for efficient and hazard-free operations. Diamond Foam offer high quality sleep products that are outstanding values with all the healthful benefits of a good night. Features Features of products that are manufactured by Diamond Foams are given below. Offer high quality sleep products that are outstanding values with all the healthful benefits of a good night. Medically it is proven that not everybody is comfortable sleeping on a plain surface, and Diamond Foam brand, Dolce Vita Adjustable bed, gives you that option to raise your head or feet to a position where you are most comfortable. Brand Name Foam mattress Europedic Memory Foam Spring mattress Dolce Vita Pocket Spring Mattresses Dolce Vita Bonnell Spring Mattress Diamond Jumbolon Jumbolon Board Jumbolon Spray Jumbolon Rolls Life style products Dolce Vita Recliner Dolce Vita Adjustable bed Packaging Diamond Foam provides good cover and polythene bag for their products. Returns In warrantee period, Diamond Foam replace foam mattress with foam mattress when it is damaged. Service Services of Diamond Foam are given below. Going beyond traditional service, to provide state of the art customer care experience, and want to earn customers loyalty by delivering services that anticipate their needs. Diamond Foam is constantly looking for ways to improve their service by listening to customers, monitoring performance and adopting the best practice. Guarantee: Guarantee that is given to customers are given below. Customer relaxation is intensified by the fact that every product is sold with reliable guarantee and superior class after-sales services. Diamond Foam take pride to be the finest mattresses company, who also adheres to its philosophy to provide superior after-sale service by giving the reliable guarantee that looks after your comfort year after year. They repair or replace your mattress, this guarantee continues from the original date of purchase. Diamond Foam also gives guarantee on stitches pulled out of the handle where sewn to the mattress. Customers guarantee is valid for original purchaser only and it protects you from the day you purchase your mattress or complete sleep system, and continues according to the Guarantee Period specified. Discounts All brands of Dolce Vita (Pocket Spring), Duet and Dolce Vita (Bonnell Spring), except Supreme Jacquard Fabric and Supreme, are discounted 23% for dealers and distributors. Supreme Jacquard Fabric and Supreme are discounted by 15%. Warranties Diamond Foam gives warranties to their customers from 10 years to 12 years. Payment Periods Diamond Foam gives a payment period to their customers up to 3 months. Credit Items Diamond Foam sells their item normally on cash basis but sometimes gives on credit to particular customers. Place Coverage Diamond Foam has coverage to Pakistan, Dubai, Afghanistan and Egypt. Locations Diamond Foam has different distribution center in and outside Pakistan, which provide foam to end-users. Inventory Diamond Foam never faces a problem of stock out because one day plant work in a day generate inventory for 2 weeks. Transport Diamond Foam has 150 trucks, which provide foam to dealers and distributors. Promotion Advertising Diamond Foam spends 10% of sales annually on advertisement and uses all means for communication (e.g. billboards, TV, radio, etc) for advertise their foam. Sales Promotion Diamond Foam gives different rates of discount to distributors on different brands. Operational Strategies of Diamond Foam Diamond Foam provides standardized foam in large quantity (mass production), continuously improves their operations and processes. Sometimes they do mass customization (in terms of size and smoothness, which is described by customers). Diamond Foam has no computer-integrated design for design of foam. Diamond Foam has skilled labor (job shop) and all plants are automated (dedicated transfer lines) and parts are not group together before the operation because one man can operate plant. Operations department is responsible for making highly economical, efficient and customer oriented operations from receipt of products to safe storage and onward dispatches to customers (dealers) timely and efficiently. How Diamond Foam make foam First of all they gather raw materials (PPG, TDI and catalysts). Three of them add in one tube and after this heat is given to their mixture and after this solution is spread by air and foam will be generated. Core Functions Following are core functions of Diamond Foams operations department: Product Receipts Handling Storage Dispatches Hospitality Operation Department Purchasing Strategies of Diamond Foam Diamond Foam purchases raw materials from many suppliers (multiple sourcing) of Korea, Taiwan and China. The basic raw material used in the process is Polypropylene Glycol (PPG), Toluene Di Isocynate (TDI) and many catalysts. Price of raw materials (PPG and TDI) is based on price of crude oil ($100/barrel). TDI prices have increased up to 35% since last 10 months. The primary function of the Diamond Foams purchasing department is to purchase the supplies, materials, equipment and services required to insure that maximum value is obtained for each rupees spent. Specific responsibilities, duties and functions of Diamond Foams purchasing department are as under: Policies and Procedures Develop purchasing objectives, policies, programs and procedures for the purchase and contracting for all materials, supplies, equipment and services. Specifications Prepare and assemble specifications and technical requirements. Consolidation Bulk Purchasing Explore the possibilities of buying in bulk to take full advantage of quantity discounts. According to the situation, Diamond Foam can purchase twice the raw material than demanded due to fluctuations in the prices of petroleum products. Standardization Work with other departments to establish standardization of materials, supplies and equipment where practicable within a competitive environment. Compliance with laws Insure that all purchases are made in compliance with applicable statutes, rules, regulations and policies. Unlawful for employees Unlawful for employees to purchase any materials, supplies, equipment, or make any contract with anyone without the consent/permission of purchasing department. PAK ELECTRON LTD PEL was established in 1956. with the technical collaboration of M/S AEG, West Germany. It is the oldest composite electrical equipment-manufacturing unit of Pakistan with the object of initially producing transformers, switchgears and electric motors. In 1962 after conclusion of joint venture agreement with AEG, total shareholding was purchased than by sponsors M/S Malik Brothers Limited. COMPETITIVE PRIORITIES: COST: Low cost QUALITY: Consistent quality with high class appliance performance. FLEXIBILITY: A lot of volume, equipment and workforce flexibility is present. OPERATIONAL/ FUNCTIONAL TESTING Here a refrigerator is operationally/ functionally tested. It is operated for a whole day. QUALITY CONTROL CHECKING Here the quality assurance is checked. The refrigerator is checked technically and physically by quality control. PACKING SECTION:- Now the refrigerator is ready for packing after quality control checking. So the refrigerators are packed according to their models and colors, and delivered to the Storeroom. INVENTORY MANAGEMENT: Pel is in a seasonal business since the demand season for their product is from April to September. PEL management estimates the demand very carefully and tries to avoid the pilling of the inventory. Production of PEL jump in Feb. to April and they need more Inventories in this season. To keep the overhead charges low PEL has a small no of permanent workers which -work through out the year. However to meet the demand of the peak season the management hire the workers at the temporary basis just before the start of the season. REORDER POINT: Optimal replenish inventory system is used by PEL. In more technical terms the minimum level serves as reorder point. For managing the Inventory of different types, The Company divides the inventory into two broad categories. Raw material Inventory Finished goods Inventory CAPACITY MEASURE In every department PEL has got several machines which are used in the production of various appliances and electrical equipment whose capacity is measured in term of the output measures. BOTTLE NECK In the whole production process there are certain stages which are more time consuming than the others. So this limits the out put rate to a minimum level to that which was expected. In the process of the refrigerator manufacturing the bottleneck is created at the thermo foaming machine. In the process; from base making to the packing at the stage of the foaming this bottleneck is created. CAPACITY STRATEGIES CAPACITY CUSHION On the average each department has the capacity cushion which varies from 5% to 15% ECONOMIES OF SCALE PEL is trying to reduce its cost through enjoying the economies of scales in his processes. Because of the purchasing in the bulk and using the activities as the measure of the overhead charges PEL has been successful in reducing The cost of materials The cost struck in the processes The cost in the overhead. b) Warburtons managing the supply chain to meet customer needs: Warburtons is a family firm founded in 1870s. It is the 2nd largest grocery brand in UK. Its main focus is on quality not quantity. It holds a market share of 25% of wrapped bread which makes it a market leader. It produces about two million of bakery products daily due to which there is an everyday fresh supply of baked products in the market. Warburtons have divided their economy into three sectors; primary, secondary and tertiary. The primary sector involves, the growing and extraction of raw materials, like grains. Warburtons work with the farmers of UK and Canada to get a very good quality of grain/wheat. Secondary sector deals with converting the collecting raw material, that is, wheat into flour and then finally flour into bread. From fifty years, Warburtons are working with millers which convert their wheat into quality flour. Then this flour is used to bake quality breads. Many modern techniques are used to perfectly bake bread and ensure quality. Tertiary sectors bridges other firms and clients with Warburtons. Tertiary sector is largest in UK as compared with primary and secondary. Warburtons have more than 900 delivery vehicles, which ensure a fresh supply of bread in market every day. It uses software to ensure efficiency of this fleet.(thetime100:Warburtons) Total Quality Management: Any company in the world can get 100% customer satisfaction and the default can be minimized to zero by using total quality management. Nissan:(thetime100:Nissan) Introduction Nissan Motor Manufacturing UK is the UKs largest car manufacturing plant. It is also the most productive plant in Europe. This success is due to careful planning and design. Total Quality Management (TQM) TQM is a key feature of Nissans way of working. It means that everyones focus is on quality at all times. It is a way of operating that requires people to take on an improvement culture where everyone is looking for ways to improve. Just in time This means that production happens just as it is needed. Cars are produced as customers need them; components arrive as assembly lines need them, and so on. In this way, production is more efficient and there is no cash tied up in stocks either of raw materials or finished goods. Every vehicle is electronically monitored at all stages of production so that its progress can be checked. Training In such a high technology environment it is important that people are trained. NMUKs training department concentrates on both technical and people development, providing opportunities for all employees. Kaizen Kaizen means continuous improvement. It means that Nissan believes that even the smallest change can make a difference. Improvements are usually suggested by small teams, who meet to share ideas for improvements. Unison:(thetime100:Unison) Every human has a right to be healthy and work in an environment where he/she is safe. Trade unions, like UNISON provides workers with their rights, health and safety. UNISON (the public service trade union) was formed in 1993, and nowadays it is UKs largest trade union. Its main focus is on providing workers with their rights, health and safety. It is a merger of three public sector unions in which two-third workforce consists of women. It has been observed that in presence of UNISONs safety representatives, ratio of accidents and death is decreased by half. UNISON plays an important role in workplace, like providing higher benefits (pays, compensations etc.) to the workers with extra holidays. It cares for the cleaning staff (as they are dealing with higher rate of accidents), looks after the catering (by improving food levels in schools and hospitals etc.) UNISONs legislation consists of two types of laws/clause; one is the HASAWA act 1974 (which bounds the employer to care and calculate risk for employees safety) and other law/clause binds the employee to look after itself and workers around him/her for their safety. UNISONs viewpoint is to provide long lasting health and safety for the workers. It focuses on women health and safety, reducing violence, bullying, passive smoking and minimizing the stress of the workers. Capacity Planning: Nissan:(thetime100:Nissan) Production Car assembly is a complex operation with many components requiring skilled assembly. Thats a crude indication of what is involved. Management are particularly keen to monitor total machine-hours and total labour-hours that each vehicle requires. So far, Nissan has invested over  £2.1 billion in the Sunderland site, taking its production capacity to 500,000 vehicles per year. Production methods must be able to produce what customers want, in the quantities customers require, at a price consumers are willing to pay, and at a cost that yields a profit to the business. That means that being efficient is vital to success. In some industries it is possible to carry out individual job production to meet a particular customers request e.g. a wedding dress, a birthday cake, a fitted kitchen. However, very nearly all of the worlds car manufacturers mass produce standard models, with individual consumer choice being accommodated by offering various colours, interior designs, and optional extras within a limited flexible production process. People can still personalise their cars further e.g. by choosing a particular car registration or accessories. In pursuit of high output at low average cost, car manufacturing typically uses a continuous flow production method, where sub-assemblies are brought together in a final assembly area. This is the most cost effective and efficient method of production and the speed of the final assembly line can be adjusted to match consumer demand. If demand picks up, the production line can be accelerated, within predefined limits. At NMUK, the production flow draws on three main production shops, as well as support areas. The three main shops are: body assembly painting final assembly. Supporting manufacturing areas are: press shop produces panels for the vehicles plastics shop makes bumpers (fenders) on site castings shop makes engine parts e.g. cylinder heads engine shop assembles engines, installs oil, coolant fuel axle plant produces axles that are joined to engines in final assembly. Widely different processes generate different jobs across three main broad areas. The machinery is scheduled to work at a given level although when demand requires it; there is flexibility in regard to both the machinery and the workforce of 4,300. At the moment, with a two-shift pattern, NMUK has a total production capacity of around 360,000 units/year a third shift can be introduced which would take production up to 500,000 units/year if and when required. Performance Measurement:(thetime100:cocacola) In any business activity it is important to be able to measure the success of strategies and operational activities. Measuring performance is the best way of assessing how effective strategies and initiatives have been, with a view to making appropriate adjustments. Organisations need to measure and report performance against stated aims contained in a business plan, eg daily output, employee turnover. The business will tend to measure and evaluate only those aspects of its business over which it has control. Ideally these measurements should also be benchmarked so that everyone can see how performance compares with others. Coca-Cola uses detailed sets of performance indicators for many areas of its activities, including its work to promote social responsibility. Community performance indicators include: Impact evaluations of community programmes. These include indicators of educational attainment as well as of environmental enhancement and conservation. Perception measures of the Company as a good neighbour. Inventory Management:( inventorymanagement.com) Inventory management is primarily about specifying the size and placement of stocked goods. Inventory management is required at different locations within a facility or within multiple locations of a supply network to protect the regular and planned course of production against the random disturbance of running out of materials or goods. The scope of inventory management also concerns the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting. c) Pel does not have proper inventory planning by the management due to which heavy amount of the money is being put by the company in the inventory.PEL has the strength also that it has a good repute for the company as being the quality conscious company. It has own experts for the purpose of the control of the quality of products. Due to the good sight selection for the purpose of the power division the company has more access to the whole of the markets of the country. The company also has well established system of the distribution of the company although it is not the integrated one but it is working smoothly. The company should also make some of the methods for the purpose of the keeping the inventory at the optimal level. Proper planning of the material can decrease the amount of the investment in the inventories by the company. The management of this company does not use the sophisticated technique while making or performing the function of the demand forecasting by the company. They rely more on the judgmental methods for the purpose of the projection by the company about their sales. In Diamond Foam the training is given to workers for developing their skills for future. The promotion based on consistent with job. Training is given on following basis. Identify the gap in performance of the employees Compile detail of employee require training Identify the areas of training Identify the skills of trainees. Train the employee Management assesses the training programs success or failure. Benefits for employees Benefits for employees provided by Diamond Foam are as under. Medical allowances given by the company to the candidate Lunch and dinner facility for employees Apron, gloves and other requirements related to production of foam mattress will be provided by the company Uniforms provided by the company to helpers/guard Health and Safety policies Health and safety policies are described by Diamond Foam are given below. Production area should be clean First aid should be provided in case of any emergency Proper ventilation system/ exhaust fans to maintain the temperature In case of any fire there should be fire extinguisher and an exit door in factory and different offices Electric wires should be placed as no wires come under feet. Wire should be correctly placed Conclusion: I have researched both companies and I have gained much knowledge about different aspects,operations,frameworks in both organization Diamond Foam and PEL.Both are using different types of inventory management, Total Quality managemeny,supply chain design, performance measures,capacity planning. Buddhism: What Is Nirvana? Buddhism: What Is Nirvana? Buddhism represents one of the greatest religions in the world. Its roots are traced back in India, and today it forms the major religion of countries such as Bhutan, Sri Lanka, Thailand, Vietnam, Myanmar and Cambodia. Buddhists have also been found to occupy some areas in Europe including Asia, Australia and America. The major distinguishing feature of Buddhism is that, Buddhists never believe in God as with the other religions. Buddha is the figure from which they obtain and follow their religious teachings. Buddha is not recognized as a name. It stands for a title which carries the meaning of the enlightened one. All Buddhists have one main goal, to become enlightened just like Buddha and live free from all manner of desire. Buddhism came from the transformative experience of nirvana followed by his compassionate feeling of helping others realize nirvana by themselves (Ganeri, p. 3; Trainor, p. 66). The teachings of Buddhism come from the experiences Buddha has while searching the truth about suffering and how it can be ended. Buddha had several lessons. The first lesson was known as the Four Noble truths. These teachings explained that the experiences of suffering is everyone`s in life. This suffering is as a result of people not being contended with what they have. According to the Second Noble truth, suffering is caused by desire. A term trishna is usually used and implies that all human beings yearn for a number of things. These include; food, power, sex and possessions. Buddha explains that all these are world troubles and are rooted deeply in desire. Desire is known to wrap the human mind distorting our understanding and leading us to desire-driven ways. Such ways tend to ensure human continued suffering and inevitable samara. Samara is likened to a flooding river in the early texts of Buddha. This river sweeps away humanity to misery, death and rebirth. This flooding is a s a result of submitting to desire. Buddha`s teachings are likened to a raft that can be used to take refuge, overcoming the water currents and reaching the other end. This is the offshore end which is safer and is likened to nirvana. It is argued in pali texts that desire is integral in the world and because of this its power managed to shape life on earth (Trainor, p. 66). The Third Noble Truth highlights a terse reference to the Buddhists central focus on the spiritual causation. The cyclical cause pattern and the effect through which desire leads to intense suffering can be reversed. This will eventually be controlled leading to the possibilities of enlightenment and nirvana. First humans were non-material beings and enjoyed blissful and long lives. One of them happened to taste the sweetest thing on earth, and the same thing today is being consumed by crave and desire. The other humans tasted the sweet thing and the radiance disappeared. Peoples` bodies became solid as plants and other edible materials appeared. Desire became so powerful such that creatures divided themselves into gender, initiated sex along with theft, lying, and harmful actions. All these characterize the world as we know it today. Buddhism gives careful analysis in the early texts which explained that the existence of desire will prevent one from reaching nirvana (Trainor, p. 66). Philosophers in Buddhism divide desire into three kinds; for sensual pleasure, for rebirth and future rebirth. Early Buddhists found difficulties following the idea of ending desire. For Buddhists, the body is to be respected and should maintain life. It should be cared for but not loved. Desire must also be eliminated without mutilating the body. Focus on desire makes plain Buddhists` emphasis on renunciation and detachment. Buddhists everyday life involves renunciation of the everyday world of desire in favor of the monastic community. Sangha settled for a refuge just for this (Harvey, p. 69). This would offer individuals a chance to lead a simple life and thus lose their desires. At the same time, the name of Buddha would be administered as good medicine of his Dharma to sick humanity. Advanced stages in refuge lead to the desire to learn more of Buddha`s teachings. The desire to be enlightened was to be renounced so as to reach nirvana, the ultimate goal of all Buddhists (Trainor , p. 66). There is also another way of bringing the aspects of desire to an end. This is through following the lessons of the Noble Eightfold path. Buddha, from his experiences had realized that there is no happiness in great hardship or great luxury. Thus, he taught the Noble Eightfold path that is divided into eight parts (Ganeri, p. 6). Right understanding is the first part and involves gaining as understanding of Buddha`s teachings. The second part is that of right intention. This part says that people should have compassion about others and always think about them in a very kind and generous way. Rights speech is the third part and teaches people not to tell lies, speak unkindly or swear. The fourth part is right action. People are taught not to steal, kill or perform actions that might upset or harm other people. The fifth part is right livelihood and teaches people to earn their living in ways that do not cause harm to others. Right effort represents the sixth part and teaches people to make the effort of being compassionate and kind. The seventh part is that of right mindfulness, which involves being aware of your own thoughts and actions. Lastly, there is right concentration where people are taught to train their minds to be clear and calm always (Ganeri, p. 6). Life`s purpose for most people, for example, in Thailand, is to get enough merit through acting and thinking in a better way. It is also understood that it takes several lives to reach the goal of nirvana. Buddhism as discussed already, arose from the transformation of Buddha`s experience of nirvana and his compassion to help other people realize nirvana by themselves. Buddhists` wise statements compare nirvana with fire extinction. Ancients Indians understand that extinguishing a flame releases the flame so that it returns to an agitated, diffuse and eternal state. Nirvana bears these associations, although it is most often believed to be ahead of all known states of existence (Trainor, p. 69). Men and women realize nirvana through cultivation of wisdom (prajna). Prajna is the active capacity for discernment of the spiritual world, realizing the true nature of reality, which is described as something marked by suffering, impermanence, non-self and the three characteristics of existence. Complete development of prajna is vital to enlightenment. This is a view that has been shared by all Buddhists schools. Enlightenment, as a term, expresses how the fullness of prajna eliminates all aspects of ignorance and at the same time enabling the mind the see clearly, what reality is all about (Trainor, p. 70). Enlightened individuals at their death enter parinirvana which means complete nirvana. This is an after death state and is beyond description as many texts put it. Nirvana has been discussed covering both its positive and negative sides; a realm where there exists no sun or moon, going or coming; an impersonal state transcending individuality. Basing on positive terms, nirvana is at times described as eternal, pure, tranquil and deathless. Philosophers in Buddhism are known to recognize nirvana as the only reality that is permanent in the cosmos. Nirvana is famously considered as indescribable. It is not as depicted erroneously by the early Western interpreters as annihilation meaning an extreme position rejected by the Buddha. An influential definition of nirvana used by the Mahayana tradition presents the famous dictum of the philosopher Nagarjuna. Practitioners in many of the existing traditions have endeavored with beauty and eloquence in expression of their experience and enligh tenment (Trainor, p. 68). According to Buddha`s Noble eightfold path, the fourth noble truth offers the formula for getting rid of desire. The eight ideals described in the concept provide a cure for the continued cycle of rebirth, suffering and death. These eight ideals are divided traditionally into three categories, which all mark the progressive path to nirvana. The three categories include; morality under right speech, right action and right livelihood; meditation under right effort, right mindfulness and right concentration; and lastly, the cultivation of prajna under right view and right thought. Buddha`s definition of the Eightfold path rejected two ideas that are known to be central to the religions of the other world. The first idea is that there is no relationship or belief in the transcendent creator God. This God is the one who is known to sustain the world and also people depend on him for salvation and security. The second idea is that of believing in an immortal soul. This idea is rejected as false consolation that is similarly unsupported by critical analysis. Soul, just like God, is described as a projection of the human mind that is desire-driven in the search for immortality and security (Trainor, p. 68). Eightfold Path is emphasized by the Buddha as a practical guide that is goal-directed. He told his disciples to avoid engaging in mere intellectualism or idle speculations. There is one famous parable of, The Poison Arrow which Buddha uses to describe a problem facing a man who has been hit by a poison-tipped arrow. The Buddha suggests about three questions which the man should possibly ask. The first question is if the man should inquire about the person who shot arrow and the second one about the wood type the arrow is made of. The third question is whether the shot was aimed low or higher. After analyzing a series of other similar scenarios, Buddha explains that only if the man practically addresses the mortal danger that is before him, through getting rid of the poison that would kill him, can he survive. Buddha cautioned his disciples about wasting their time on pointless philosophical inquiries; they will end up squandering their spiritual opportunities (Trainor, p. 71). The path to nirvana has several classing stages. The first stage is that of steam-enterers who realize the illusion of the self and no longer doubt Buddha`s path. They thus expect more than seven rebirths before attaining nirvana. At an advanced stage, the devotee becomes a once returner. He or she has a highly developed prajna, and this means that the person will experience further human life once. Mahayana and Theravada Buddhism both consider Buddha as the highest form of being. Theravada traditions consider both the Buddha and arbat (the enlightened one) to have fully developed prajna (Trainor, p. 88). They also share the same realization of nirvana and pass into the parinirvana state (cessation of birth) (Harvey, p. 223). Buddha taught his followers to be teachers and also to realize that they are different persons, each of whom bearing different status determined by their karma. Depending on whether they are ordinary people, learners or adopts, each of them has to be instructed in a different way and led as required by Buddha`s path. Tradition puts emphasis on the opportunity of human birth that it should not be wasted regardless of the individual`s level. Life should thus not be wasted and instead, should be lived with a purpose. Buddhists have a hope of attaining nirvana in the current life they lead and if not, in their future rebirth (Trainor, p. 71). Regarding the Four Noble truths, Buddha explains that if his vision of true knowledge failed to be fully and clearly understood, he stands not to have reached perfect enlightenment. To experience Nirvana, Buddhists should progress towards being more enlightened and gain a better understanding of the Four Noble Truth. This was to happen through meditation and critical reflection of what Buddhism is all about. Knowledge on the elements of the path, however, much sophisticated it appeared, was not sufficient. Following the path and polishing one`s understanding of each of the known elements will lead one to nirvana (Trainor, p. 71). The Noble Eightfold Truth path presents the most vital summary of the Buddhist`s practice. It is known to outline the necessary and progressive ways of realizing nirvana. The path is understood as the means of cultivating morality (shila) insight (prajna) and meditation (Samadhi) as has been stated. It stresses that progress in morality forms the foundation for the successful meditation. Successful meditation, on the other hand, serves the best platform for the development and perfection of wisdom or insight (Trainor, p. 72). The stages of the Eightfold Path towards Nirvana underscore the practical emphasis of Buddhism as whether, in the goal of raising moral standards, good conduct, the society`s material welfare or eliminating desire-driven behavior, cognition restructuring and in the end realizing enlightenment. Moral practices or shila which fall under right speech, right action and right livelihood represent the starting point Buddhist`s path. A person cannot progress towards nirvana while lacking ethical integrity (Trainor, p. 72). Regarding karma, a person cannot bear the balance of karma that warrants reaching the advanced stages of the path to nirvana while behaving in an immoral way. Morality of Buddhists, when stated positively, dictates the wisdom of cultivating compassion, discernment and detachment. The morality of Buddhists hinges on three areas of human behaviors. These include; speech, actions and livelihood. Right action as per a negative description means not to steal, kill or doing harm to others. These aspects of human behavior lead to negative karmic consequences poisoning the mind and thus predisposing a person to future immorality (Trainor, p. 72). Meditation according to the Eightfold path refers to the right effort, right concentration and right mindfulness. The term meditation encompasses various techniques and traditions that work hand in hand with the mind. It is necessary for the development of the mind in terms of clarity of the mind, freedom from states of negativity, insights of conditioned reality that finally lead to nirvana. Meditation has its stem rooted in the experiences Buddha went through. Buddha`s meditation was directed by the itinerant teachers, the holy men he stayed with while he was in the forest. A practitioner of meditation following Buddha`s example may require a number of years of effort to master. He or she should also be guided by a mentor who is experienced so as to reach the advanced stages of meditation (Trainor, p. 72). Meditation develops on mindfulness together with the two elements of concentration and insight. Right concentration according to the Eightfold Path, is also known as trance meditation (Samadhi), and it involves intense focus on one object of meditation. This leads one to a state of one-pointedness through which the duality of other and self id dissolved. Standing in the conditioned or the unconditioned is a notion in nirvana taken up by the Mahayana Buddhism. It is referred to as apratisthita-nirvana or the non-abiding nirvana. It is usually seen as different from the elements of nirvana discussed in the pali texts. This nirvana as discussed by gadjin Nagao is the nirvana attained by the Bodhisattvas. The basic idea here is that Bodhisattvas attain nirvana because of wisdom and with through compassion, and also a Buddhist has no intention of reaching nirvana after death (Harvey, p. 221). Right view and right action are traditionally known as wisdom in Buddhism. They too culminate the means to nirvana. Right view is described as the thorough understanding of the Four Noble Truths while right thought is seen as a detachment from cruelty and hatred. These two aspects of human behavior are known to lead to enlightenment. Buddha`s teachings provide unique teachings of achieving this. The success of a person that is moving from morality to meditation is measured by the development of prajna (Trainor, p. 74). Buddhism as a religion provides opportunities for other comparative studies with a diversified range of studies. Its emphasis on Middle way provides different guidelines for ethics and at the same time has allowed Buddhism as a religion to coexist with other differing beliefs, institutions and countries where it is practiced and customs. Its spirituals and moral teachings go parallel with other religions. The tenets of Christianity, as has been found by many scholars around the world have represented the subjects of close studies (Weeraperuma, p. 77). Reactive Change Management: Overview and Case Study Reactive Change Management: Overview and Case Study Introduction Life and changes were born together and they will live together, till the last sunset. The concept of changes was born with the organizations, however its evolution, development and connotations have frequently changed and its horizontal, as well as, vertical expansions and applications are extending day be day, with a fast speed. Manifold and multidimensional revolutions from era has enhance the speed of changes and given it many new shapes. It is very interesting phenomenon that inventions, discoveries, concepts, hypothesis and terminologies etc are coined or designed for one specific field, but then they outgrow and enter into many other fields and areas, carrying different meaning, perceptions and interpretations. In the present era of globalization and information technology, the organizations have to face various changes on a very rapid pace. Thus, demanding an increased and active participation of management towards identifying and reacting to the changes. The different ways t o manage changes in organizations are being practice at various levels. Effective Change Management The process of effective change management enables the organizations to successfully implement changes in the strategies and plans in order to enhance their effectiveness. The strategies can be implemented to deal various changes like changes in consumer behavior, technological developments etc. This concept appears to be helpful in responding to a change in the lifecycle of goods or services produced by the company and changes in the financial stability of the company. Organizations may consider the effective change management strategies from a proactive or reactive situation. Proactive situation demands manager to vigorously assess the current economic market and business atmospheric circumstances to highlight the changes occur in the near long-term future. By assessing these information, the managers adopt to develop business strategies to improve or enhance business operation. The Concept of Reactive Change Management In order to cater the major shifts or changes occurs in the corporate world and economic market the organizations consider various strategies. Although, the approach of reactive change management normally appears to be imperceptible but the implementation of effective strategies can not only reduces its negative impacts but enable the companies to increase their market share. Factors to be Considered when Managing a Change The change agent Determining what should be changed The kind of change to make Individuals affected by the modifications Evaluation of the modification The Change Agent The identification and analysis of change agent comes out to be the most important factor while managing a reactive change in the corporate world. The change agent may requires some broad nature decisions like altering the culture of whole organization, or some narrow ones like designing and implementing a new safety program or a new quality program. Determining what should be changed Secondly the finalization of the factors which are required to be reviewed for managing changes in an organization is highly important. In common, managers should make only those changes that will increase organizational effectiveness. The organizational effectiveness primarily depends upon activities revolving around the three factors. a. People b. Structure c. Technology People factors are attitudes, leadership skills, communication skills and all other characteristics of the human resources within the organization. Structural factors are organizational controls, such as policies and procedures. And technological factors are any types of equipment or processes that assist organization members in the performance of their jobs. For the management of organization, while managing changes the theme Appropriate people must be matched with appropriate technology and appropriate structure proves to be necessary. The Kind of Changes to Make When the management has to review their current strategies for managing changes the factor of selecting appropriate areas is critical. For example in order to manage technological change the level of current technologies requires to be modified. Individuals Affected by the Change A fourth major factor to be considered by the organization while managing changes is the identification of its influences on the individuals both inside and outside of the organization. A good assessment of what to change and how to make the change will be wasted if organization members do not support the change. Evaluation of the Modifications In connection with the other factors the evaluation of the modifications being made for managing changes is very necessary. It will enable the management to evaluate the effectiveness of the modifications made to manage change. Resistance to Change Resistance to change is as common as the need of change. After managers decide to make some organizational changes, they typically meet with employee resistance aimed at preventing that change from occurring. Behind this resistance by organization members lies the fear of some personal loss, such as a reduction in personal prestige, a disturbance of established social and working relationships, and personal failure because of inability to carry out new job requirements. Reducing Resistance to Change To ensure the success of needed modifications, management should be able to reduce the effects of the resistance that typically accompanies proposed change. Resistance can usually be lowered by following these guidelines: 1. Avoid Surprises: People need time to evaluate a proposed change before management implements it. Unless they are given time to evaluate and absorb how the change will affect them. Whenever, possible individuals who will be affected by a change should be informed of the kind of change being considered and the probability that it will be adopted. 2. Promote Real Understanding: When fear of personal loss related to a proposed change is reduce, opposition to change is also reduced. Most managers find that ensuring that organization members thoroughly understand a proposed change is a major step in reducing this fear. 3. Set the Stage for Change: Perhaps the most powerful tool for reducing resistance to change is managements positive attitude toward the change. This attitude should be displayed openly by top and middle management as well as by lower management. In essence, management should convey that change is one of the basic prerequisites for a successful organization. Management should also strive to be seen as encouraging change to increase organizational effectiveness, rather than for sake of trying something new. Case Study of Strategic change at Samsung Group Case study is a research strategy which involves investigation of a particular contemporary phenomenon in the real life situation using multiple sources of evidence. More elaborate explanation on the nature of the case study as a research strategy was given by Frenkel, Hommel, Dufey Markus, (2005). in whose view case study represents a specific way of collecting, organizing, and analyzing data. Grounded theory represents a strategy which posits that the data is collected through observations and compared to various theoretical frameworks in order to discover which of the data is the most appropriate. This leads the researcher into making predictions about the studied phenomena prior to putting the findings into test. However, the aim of grounded theory is to make studied data records well-developed and understood and to verify relationships between the findings and the case study in question (Frenkel, Hommel, Dufey Markus, 2005). Samsung Group, a company based in the Republic of Korea that produces electronic products like televisions and radios, was able to compete favorable in the world market on the basis of low product cost resulting primarily from cheap labor and a cheap Korean currency. But when both the competitive advantages vanished the company had to adopt some different strategies. The management of Samsung Group evaluated the circumstances and adopted a change in their strategy. They decided to utilize the factor of innovation by exploring new ideas and products instead of depending on low product cost. This change management of the Samsung Group, enabled them to grab big dividends. The top management of Samsung also enabled to guide their employees towards the new strategies of bringing innovative products. Advantage of Reactive Change Management The effective utilization of reactive change management enables the management of organizations to increase their market share and to bring success for their organization. Some of the main advantages are discussed below: -. In-depth Assessment of Changes The reactive change management provides some additional time to access the impacts of changes being faced by the corporate world. It is obvious that the results of changes at any level can be determined after its implementation and a reasonable time span. Therefore, by adopting reactive change management the organization gets the opportunity to analyze the impact of changes and then finalizing the plans and strategies to cater those changes. Evaluation of Competitors Strategies and their Outcome Reactive change management also enables the management to evaluate the changes adopted by their competitors to mange the change. Moreover, the outcome of those strategies could also be judged and considered while finalizing the change management strategies. Consultation for Change Management Strategies Reactive change management lets the management to embrace consultations within the organizational setup to evaluate the changes being encountered. Moreover, various suggestions regarding the strategies and policies can be discussed and their implications can be evaluated. This process will enable them to enhance the participating of various organizational members and results in enhancing the effectiveness of strategies and policies. Enhances the Stability of Organization Stability of organization is as important as the need of growth. If an organization adopts change management strategies on frequent basis it will questions the factor of its stability. Reactive change management enables organizations to evaluate the factor of stability before adopting any change in their strategies. Conclusion Most of the managers agree that if an organization is to thrive, it must change in response to significant developments in the corporate environment, such as changing customer needs, technological breakthroughs, and new government regulations. The study of organizational changes is extremely important because all managers at all organizational levels are faced throughout their careers with the task of changing their organization. Managers who determine appropriate changes to make in their organizations and them implement such changes successfully enable their organizations to be more flexible and innovative. Change is such a fundamental part of organizational existence and growth. In additional to organizational change, degree of stability is a prerequisite for long-term organizational success. The organizational survival and growth are most probable when both stability and adaptation are high within the organization. The organization without enough stability to compliment changes is at a definite disadvantage. When stability is low the probability of organizational survival and success decline.

When Laughter is the Solution, Not the Problem Essay -- Literature Hum

One of the many ways to cope is through the power of laughter. An old saying goes â€Å"Laughter is the best medicine,† useful in situations of grief and difficulties. Lately, however, laughter combines with politics and international news. While this is effective, is it right to do so? Not only do Jon Stewart and Stephen Colbert pick-and-choose the stories they wish to cover in their TV shows, they choose them based on the comedic potential, blinding their viewers to the real problems the stories present. Known for her comedic approaches in literature, Margaret Atwood also uses humor in her short story â€Å"Rape Fantasies† to effectively warn her female readers about the dangers of desensitizing and underestimating the possibility of rape. The admonition worked, although it was a risky maneuver and Atwood could have used another method just as effectively to caution her female audience. Published in 1975, right in the middle of the free love, hippie movement, Margaret Atwood’s â€Å"Rape Fantasies† evoked some extreme reactions from her readers. Some believed it to be too humorous to seriously study as a social critique, while others thought it just what society needed to wake up and consider this awful occurrence called â€Å"rape† (Tyler np). Focusing on gender studies, especially a woman’s role in the world, this story displays just how little women understand power. As a group, we consider ourselves powerful and strong; however, we do not understand exactly how powerless we are since we actually know so little about rape. For example, study the group of women in â€Å"Rape Fantasies† who eat and play bridge during their lunch break. One day Chrissy stops reading her magazine and asks if any of the group members have had a rape fantasy. ... ...r the value of each life, the danger of not reacting to a horrific news story, the possibility that anything can happen, and the fact that nobody can be overly protective. Works Cited Disaster Center. â€Å"United States Crime Rates 1960-2009.† Disaster Center. Disaster Center, 2010. Web. 9 Dec 2010. http://www.disastercenter.com/crime/uscrime.htm. Rape, Abuse, & Incest National Network. â€Å"Statistics.† Rape, Abuse, & Incest National Network. Rape, Abuse, & Incest National Network, 2009. Web. 9 Dec 2010. http://www.rainn.org/statistics. Tyler, Lisa. â€Å"Rape Fantasies: ‘I Just Don’t Understand It’: Teaching Margaret Atwood’s ‘Rape Fantasies’.† Short Stories for Students. Ed. Marie Rose Napierkowski. Vol. 3. Detroit: Gale, 1998. eNotes.com. January 2006. 9 Dec 2010. http://www.enotes.com/rape-fantasies/just-dont-understand-teaching-margaret-atwoods.

Accounts Receivable and Acquisitions Journal

Part E Acquisitions Substantive Tests of Transactions| | | | TRANSACTION-RELATED AUDIT OBJECTIVES| SUBSTANTIVE AUDIT PROCEDURES| Occurrence| * Compare prices on vendor invoices with approved price limits established by management. * Review the acquisitions journal, general ledger, and accounts payable master file for large or unusual amounts. | Completeness| * Trace a sample of receiving reports to the acquisitions journal. * Trace from a file of vendors' invoices to the acquisitions journal. Trace from additions in perpetual inventory records to recorded acquisitions. | Accuracy| * Compare amounts for entries in acquisitions journal to related vendors' invoices, purchase orders and receiving reports. * Recompute information on vendor invoices. * Compare prices on vendor invoices with approved price limits established by management. | Posting and Summarization| * Trace individual entries in accounts payable master file to acquisitions journal. | Classification| * Examine vendors' inv oices for proper classification. Compare classification with chart of accounts by reference to vendors' invoices. | Timing| * Compare dates of receiving reports and vendors' invoices with dates in the acquisitions journal. | Part F. Cash Disbursements Substantive Tests of Transactions| TRANSACTION-RELATED AUDIT OBJECTIVES| SUBSTANTIVE AUDIT PROCEDURES| Occurrence| * Trace cancelled check numbers in the cash disbursements journal to related cancelled checks and examine for payee, name, and amount. Examine cancelled check for authorized signature, proper endorsement, and cancellation by the bank. * Review the cash disbursements journal, general ledger, and accounts payable master file for large or unusual amounts. * Trace cancelled check to the related acquisitions journal entry and examine for payee name and amount. | Completeness| * Trace entries in acquisitions journal to subsequent payment in cash disbursements journal. Accuracy| * Compare cancelled checks with the related acquisi tions journal and cash disbursements journal entries. * Recompute cash discounts. | Posting and Summarization| * Trace individual entries in accounts payable master file to cash disbursements journal. | Classification| * Compare classification with chart of accounts by reference to vendors' invoices and acquisitions journal. | Timing| * Compare dates on cancelled checks with cash disbursements journal. * Compare dates on cancelled checks with the bank cancellation date. |

What Is a Valedictorian Defining High Schools Top Honor

What Is a Valedictorian Defining High School's Top Honor SAT / ACT Prep Online Guides and Tips High school academics can be very competitive for driven students who hope to earn the coveted title of valedictorian. But how exactly do high schools choose valedictorians? Does the title mean anything for college applications? In this article, I’ll give you the details on what it means to be a valedictorian, how valedictorians are chosen, and whether this is a critical factor in the college admissions process. What Is a Valedictorian in High School? If you are named valedictorian, it usually means that you have reached the highest level of academic achievement out of all the students in your class.At some schools, multiple students are named valedictorians.Valedictory honors are determined by GPA, which may be measured differently depending on your high school.I’ll go over more specifics about variations in policy in the next section. The high school valedictorian traditionally delivers a speech (the â€Å"valedictory† speech) at graduation.Fun fact: The term valedictorian comes from the Latinvale dicere meaning â€Å"to say farewell† since the valedictorian usually delivers the last speech at the ceremony. How Are High School Valedictorians Chosen? The valedictorian will almost always be the student in your class who has the highest GPA, but GPA can be measured on more than one scale (and sometimes schools have more than one valedictorian!).If your school uses weighted GPAs, meaning students in higher level classes can earn higher GPAs, the valedictorian is virtually guaranteed to be the student who has earned the highest grades in the most difficult classes.Weighted GPAs are typically measured on a 5-point scale, with a 5.0 being equivalent to an A in an Honors or AP class. Other schools use an unweighted GPA scale, meaning that course levels are not taken into account when calculating GPA.On an unweighted scale, GPAs only go up to a 4.0, which is equivalent to an A in any class regardless of level.In this case, the valedictorian could be a student who was in lower level classes but earned all A's. In recent years, some high schools have adopted the policy of naming multiple students valedictorians.Since college admissions are so competitive now, more and more students are pushing themselves to achieve high levels of academic success in high school.By naming multiple valedictorians, schools acknowledge the impressive achievements of severalstudents in a more equitable manner and reduce pressure and competition.Sometimes valedictory honors are given to all students who achieve straight A averages or to several students who have all earned the same top GPAs. In this case, there might not be an actual valedictory speech (unless all the valedictorians write a speech together and say it in unison, which would be really creepy, so I’m all for it).The policy of naming multiple valedictorians has faced criticism from those who argue that it simply points to rampant grade inflation and devalues the title of valedictorian. However, when GPAs are only separated by tiny fractions of points, it may make sense to recognize more than one student with this honor. There are also policy variations in which classes count towards the GPA that determines class ranking.Some schools might only include grades from courses in core subject areaswhile others may include both core classes and electives.You can check with your guidance counselor to see what your school’s policies are. Since the valedictorian is usually the studentranked #1 in each class, it’s not easy to predict what GPA you’ll need in order to earn the title. You may have heard about students who were valedictorians of past classes but earned a lower GPA than the student ranked fifth in your class.Some classes are more or less competitive than others! If you wanna be the top goat (which I think is what valedictorians should really be called), you may have to lock horns with other super driven students in your class. Relax nerds, there's no actual physical activity involved. What About Salutatorians? What Other Ranking-Based Honors Do High Schools Offer? Valedictorian isn't the only title that students can earn for academic achievements in high school. At most schools, the salutatorian is the student ranked second in the class after the valedictorian.Usually, the salutatorian will also give a speech at graduation.Salutatorians are slightly cooler than valedictorians. (Okay, I'm biased because I was salutatorian in high school, but let's face it, it's kind of true.) Some high schools will also offer Latin honors to students who achieve certain GPAs.You may have heard of this practice in the context of college academics.Students are given the titles of cum laude, magna cum laude, and summa cum laude as markers of their academic achievements.Different high schools will have different GPA thresholds for each honor.At a school with weighted GPAs, for example, students who earn GPAs above a 3.6 might be cum laude, students who earn GPAs above a 4.0 might be magna cum laude, and students who earn GPAs above a 4.4 might be summa cum laude. These honors are also sometimes given out based on class rank percentile. A school that organizes honorsthis way might decide that the top 5% of the class is considered summa cum laude, the top 10% is magna cum laude, and the top 25% is cum laude. If your high school doesn't have Latin honors, that’s not a big deal.It’s just another way of recognizing students with high GPAs who have worked hard but haven’t quite reached the level of valedictorian or salutatorian. The only Latin phrase that most of us know. Seize the carp. That's what it means, right? What Are the Benefits of Being Named Valedictorian? The title of valedictorian, as we have seen, can mean different things depending on your high school.It’s an impressive honor, but the title alone shouldn’t make much of an impact on your chances of college admission. If you're a valedictorian, you will have a very high GPA (and probably high test scores as well), and those qualifications will be the things that actually get you into selective colleges. When you first apply to college, you won't know yet whether you're valedictorian or not, and neither will the schools.You won't find out for sure until the spring when you've already received admissions decisions from colleges. Because the GPAs of valedictorians can vary from year to year, the title means far less than the grades that got you there.This is especially true in the context of the new trend of naming multiple valedictorians; the term is more watered down than it used to be. Even though it might not matter that much in college admissions, there are other benefits to being named valedictorian. You may be eligible for special scholarships at the colleges where you've been accepted because of your status as a valedictorian. This is common at public universities that hope to lure in high-achieving students with tuition deals. You'll also be recognized for all of your hard work and get to deliver a speech to your entire class.It’s a great opportunity to tell some hilarious jokes and/or send a meaningful message.I would recommend telling jokes because you’ll be remembered as the only non-boring part of graduation.If the thought of giving a speech makes you want to puke, then this might not be a plus, but it really is a good chance for you to be honest and share your reflections on the last four years. Deliver your valedictorian speech while decked out in full clown makeup. Give the people what they want. What Should You Do If You Want to Be Valedictorian? If you have your sights set on the title of high school valedictorian, you should be prepared to challenge yourself. Students who become valedictorians begin and end their high school careers in the toughest classes with the highest grades.For an overview of some of the skills and study habits you should adopt if you hope to be at the top of your class, take a look at my article onhow to get good grades in high school. Also, try to keep things in perspective. Don't sacrifice your mental health in the name of your goal - it's not worth it just for the recognition. Your goal should motivate you to stay engaged in your school work and challenge yourself, but it shouldn't make you break down in tears because you have to spend eight hours on homework every night. Only you know what your limits are and what you can handle. If you push your intellectual boundaries and maintain high grades, you will be accepted to some great colleges whether or not you end up becoming valedictorian. Exercise your brain, but give it some down time once in a while to keep it healthy and happy. Conclusion At most high schools, the valedictorian is the top student in the class as determined by GPA.Some schools use weighted GPAs while others use unweighted GPAs, and this may affect the type of student who ends up as valedictorian.Some schools even name multiple valedictorians to recognize exceptional academic achievements by more than one student.The valedictorian is traditionally asked to give a speech at graduation. You don’t have to be valedictorian or salutatorian of your high school to be accepted to a highly selective college!Since the GPA of the valedictorian at any given high school will vary from year to year, colleges don’t assume that everyone who ends up as a valedictorian should be admitted or that students who aren’t given the highest honors in their class should be denied.If you consistently work hard in your classes and earn high grades, you'll be rewarded in the college application process even if you're not the valedictorian. What's Next? Valedictorian may be the top honor, but your class rank still might be important even if you're not number one. Learn more about what a good class rank is in this article. Are you curious about where you stand with your GPA? Here's a step by step guide for how to calculate your cumulative GPA based on your high school grades so far. If your GPA is lower than you would like, read this guide to learn some strategies that will help you improve! Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now: