Strategic management Essay Example | Topics and Well Written Essays - 2000 words - 20

Strategic management - Essay Example Instead, it has to adapt or speed up or change based on the constantly and rapidly changing business environment. There will be factors at â€Å"play† both in the external and internal environments of the organisations, and it is up to the organisation to play or function according to those factors. Although organisations may function or change based on those factors, it is of vital importance that how rapid and also how discontinuous those changes are. This is where the happening concept of rapid, volatile, discontinuous change comes into the picture. If an organisation initiates change management which is rapid and discontinuous, it can garner number of benefits for it, particularly strategic competitiveness in line with the strategic management process. It is imperative on the part of the organisational leaders or management or Chief Executive Officer (CEO) to initiate as well as manage this rapid, discontinuous change. So, the report starts by outlining the concepts of rap id, volatile, discontinuous change as part of literature review. Then, it will discuss where and how this concept fits within the strategic management process. Following that, the focus will be on the R.A.P.I.D, which can be used to assess the role, impacts and implications of rapid, discontinuous change for an organisation. The final section will focus on the role of CEOs during this change, particularly the ways they respond to the change as well as why they could not respond appropriately to the change during certain occassions. Organisations of contemporary times are operating in a dynamic business environment, and so they are bombarded by factors in its external and internal environment. Organisations need to initiate rapid and discontinuous changes on their part to match up with those internal and external changes. â€Å"This sort of rapid change can be triggered by major internal problems or by considerable external shock† (Todnem, 2005,

How good, effective communication skills is well needed in a job of Essay

How good, effective communication skills is well needed in a job of being a nurse - Essay Example That is, nurses should be able to help patients understand their medical issues and also give them in-depth instructions regarding how to care for themselves, and then when it comes to fellow professionals, they need to communicate all the treatment details and other medical related process in a clear manner, so it does not give rise to medical errors and the related eventualities. (). Thus, the focus will be on how effective communication skills are needed to ensure patient safety and importantly to optimize the caring process of the patients. In that direction, proper and clear communication skills have to be exhibited by the nurses while communicating with the fellow nurses and other personnel regarding the treatment process of the patients. That is, not only they need to communicate clearly but also receive the communication in a clear and detailed manner. For example, when giving or receiving instructions about drug administration to the patients, reporting test results, etc., i n-person or through phone, the nurses need to strongly confirm the information before initiating the relevant actions. As it is easy to misunderstand someone's words, â€Å"nurses should repeat the information to ensure they heard it correctly† and could even make the receiver to repeat the same to confirm it further. (Williams). Then, when it comes to the communication between the nurses and the patients, it has to be effective at various levels. Firstly, while providing treatments to the patients, nurses has to clearly and slowly explain about all the medications and patients they are receiving. As the nurses have more day-to-day contact with the patients than other personnel, they need to â€Å"help patients understand their diagnosis and prognosis and teach them how to participate in their recovery.† (Williams). For that, they have to tailor or customize their communication based on the patient’s educational ability, age, medical awareness, etc. In that dire ction, they need to adopt a voice tone, which will be effective to particular patients. For example, while conversing with the children, the nurses can interact with them in a soft and affectionate tone to facilitate them to undergo the necessary treatments particularly during drug administering. The nurses need to communicate to the patients not only their treatment process in the hospital environment, but also the process they have to follow in their home as well. When one focuses on effective communication in nursing, what a nurse says and also how he/she says is just a part of the communication, because non-verbal communication forms a major part of the equation between nurses and patients, and also fellow personnel. In that direction, understanding the body language particularly facial reactions of the patients and also exhibiting strong and at the same time adaptive body language can aid in making a deep connection with the patients and thereby delivering efficient care to the m. Patients’ nonverbal communication can tell the nurses how they are feeling, without the need to talk, and so the nurses should be attentive and focused on those aspects. Then, when it co

Leadership Practice in Health and Social Care Essay

Leadership Practice in Health and Social Care - Essay Example From this study it is clear that skills theory is also another leadership theory. This theory highlights the fact that acquired skills are significant elements in securing effective leadership. It is the opposite of traits theory as it argues that more than inherited traits, acquired skills have a greater role in ensuring effective leadership. This type of leadership is favourable as it supports the notion that most anyone can become a leader.   Where the trait theory emphasizes on the fact that leadership is inheritable, the skills theory points out that individuals can work hard towards the establishment of skills needed in order to be good leaders. In health care leadership, skills are often learned in the practice. Practitioners have to undergo significant skills training in order to be good leaders. They are not born knowing the applications in the health practice.  As the report stresses  issues with this leadership theory come from the fact that there is a vague line bet ween trait and skills theory. The establishment of various skills are based on personal traits. For instance, social judgment and human skills are easier to establish for individuals who are naturally extroverts. Moreover, general knowledge and the power to secure skills are based on one’s biological traits.  The skills mode also does not provide explanations on why and how these skills impact on leadership. Instead, this theory highlights more the importance of identifying skills which are essential for leadership.... This theory highlights the fact that acquired skills are significant elements in securing effective leadership. It is the opposite of traits theory as it argues that more than inherited traits, acquired skills have a greater role in ensuring effective leadership (Marquis and Huston, 2008). This type of leadership is favourable as it supports the notion that most anyone can become a leader. Where the trait theory emphasizes on the fact that leadership is inheritable, the skills theory points out that individuals can work hard towards the establishment of skills needed in order to be good leaders (Marquis and Huston, 2008). In health care leadership, skills are often learned in the practice. Practitioners have to undergo significant skills training in order to be good leaders. They are not born knowing the applications in the health practice. Issues with this leadership theory come from the fact that there is a vague line between trait and skills theory. The establishment of various sk ills are based on personal traits (Johnson, 2009). For instance, social judgment and human skills are easier to establish for individuals who are naturally extroverts. Moreover, general knowledge and the power to secure skills are based on one’s biological traits (Johnson, 2009). The skills mode also does not provide explanations on why and how these skills impact on leadership. Instead, this theory highlights more the importance of identifying skills which are essential for leadership (Rowitz, 2009). The situational theory of leadership is yet another form of leadership which can be applied in the health care practice. This type of leadership indicates that various situations call for different styles of leadership

Interstate Banking Essay Example | Topics and Well Written Essays - 500 words

Interstate Banking - Essay Example Economies of scale are realized since loan activity is increased with the merging of assets brought about by expanded business in different states. Another advantage to interstate banking is the convenience it offers to its clients. With interstate banking, more branches are within the reach of the clients (Berry, 2011). The flow of bank activities are easily facilitated which makes it easier for the clients to do business. A smooth flow in bank activities may result in increased revenues because of the ease in doing business. Interstate banking makes it possible for banks to offer a wider range of banking services to its clients because of the interstate acquisitions and branches (Berry, 2011). Some of these services include more ATMs, electronic banking options and varied loan products. Financial security and stability is one of the major off-shoots of interstate banking. Since banking consolidation is allowed provided that the capital requirements are met, this means that the resources of the banks increase, making it more stable and secure. The liquidity and solvency of the banks improve with interstate banking. Bank clients benefit the most from interstate banking. The increased competition brought about by interstate banking makes banks think of strategies to capture a bigger market; thus, improving their services and developing new products which are attractive to the clients. Aside from bank clients, banks also benefit from interstate banking. Operating costs are greatly reduced as the bank subsidiaries are converted to bank branches. Geographic diversification will help improve the risk-return opportunities of banks (United States General Accounting Office, 1995). The most likely loser in interstate banking is the Federal Reserve (Berger & Humphrey, 1988). Since there will be an improvement in the efficiency of the payment system, multiple bank payments will decrease because most checks will be

Social Media for Small to Medium Enterprises Essay

Social Media for Small to Medium Enterprises - Essay Example There is a variety of social media sites such as Facebook, YouTube, LinkedIn, Twitter, which provide significant stages for small businesses to grow their businesses through converting the connections to potential clients (Safko, 2012, p. 28). They are also very important elements that the businesses can take advantage of in the process of handling their customer care services. When the businesses engage with their clients on the social media platforms, the connections assist them in appreciating the needs of the customers better and enhancing their service delivery. Modern drivers for change have been able to assist in the development of innovative features that assist in sustaining business competitiveness in areas that include creative design, virtual enterprises, social networks as well as mobile platforms. These reactions require tools that are based on information technology elements, the escalation of information content and a team that is very creative. Any small or medium enterprise wishing to enhance its accomplishment in the information industry should possess a critical understanding and an approach for addressing this relatively new environment. The internet has been able to come up with new functionalities that encompass real time business dynamics and relations, which are very important for the enterprises. If there is no regular improvement of the process that is used in managing this, it would rapid develop a paralysis since building the software systems that specifically address this can be a very intricate task. The software will need many people who are professionals and consultants simply to manage it generating the necessity of the small and medium enterprises to come up with a way to help them organize their data. The organization of these data by the small or medium enterprises should be in a smaller scale and cheaper to avoid having to hire expensive consultants or having to pay for consulting contracts. Businesses and companies

Systemic Risk and SIFI and Global Economic Crisis Essay

Systemic Risk and SIFI and Global Economic Crisis - Essay Example However, between 1940s and 1980s, there were less bank runs in USA, mainly due to tight legal framework and due to the transformed atmosphere. However, the banking tighter regulation in U.S.A not proved to be satisfactory as more than 250 banks filed insolvency petitions between 1980s and 1990s. In 1990s, Asian countries witnessed an economic turmoil as a result many banks in those regions failed. The issue started with individual bank and slowly enveloped into the whole banking system of a nation and finally impacted the creditworthiness of such nation itself. Likewise, the subprime mortgage crisis occurred in the 2007 -2008 started with U.S financial institutions and U.S banks and finally impacted many financial institutions around the world. However, bank failures or bank runs are not occurring in all the nations. For instance, there is no bank failure at all in Ireland and in Switzerland. Rochet (2008) is of the view that interferences by politicians can play a significant role i n bank runs. Many frequent bank failures and bank runs urged the need to recognise and deter financial agonies in the future well before they commence. Hence, there is a necessity to establish a well-structured supervision system in the financial sector, and it should be given authority to identify â€Å"systemic risks.† Bini Smaghi (2009) is the first to emphasise the theoretical issues of systemic risk, and the agency established for the same is to be well versed in detection of risks, evaluation of risk, and finally giving warnings about risks. (Eijffinger 2009:44). This research will make an earnest effort to elucidate w what is meant by ‘systemic risk’ and discuss the relevance of ‘systemically important financial institutions’ for policymakers and the ways and means to avoid future bank and financial institution failures. â€Å"What is Systemic Risk?† Systemic risk is a peril that is widespread in a nation or the economy as a whole and cannot be avoid ed by coalescing the assets in well-diversified and large portfolios, and it is also called as non-diversifiable risk. Systemic risk starts off in various sizes, shapes and magnitude. In some countries, systemic risk has occurred due to foreign exchange risks and economic shocks and in some other nations, it has occurred due to internal or external war or due to political instability. In between 1992 to 2002, there were about eight regional / global economic crisis happened in Europe, Asia and U.S.A. In case of banks, the systemic risk area includes forex risk and interest rate risks. The low-quality credit assets will first collapse when the systemic risks deteriorate. A portfolio approach is the need of the hour to recognise such unique and susceptible sectors and credit asset allocations, which may witness a negative effect in various economic conditions. Hence, it is essential to structure the portfolio to be fine-tuned methodologically so that the rigorousness of varying macro- economic crisis is minimised. It is to be noted that systemic risk differs from industry to industry. (Joseph 2007:242). As per G10, a systemic risk is one where an incident will activate a deprivation of confidence or diminution of economic value and may result in vagueness that would compel the major segment of the financial system to destabilize due to negative impact on the real economy. Thus, a systemic risk will have four significant ingredients namely erosion of faith, a sudden spurt of vagueness, major segment of the financial system that might be impacted and poignant negative impact on the real economy.†(Eijffinger 2010 :44).†

Things i dont like Essay Example | Topics and Well Written Essays - 500 words

Things i dont like - Essay Example The dislike of presenting, as far as I can tell from my particular perspective, is rooted in a fear of public speaking. Since this issue is commonly discussed in school, I had expected it to be well covered in literature. This was a correct assumption, but an initial glance at the research and theories of this condition presented a bit of a shock. For some reason, I hadnt considered that the problem might be linked to an anxiety disorder. To make it clear, I was well aware that I felt extremely anxious about presentations, but I did not ever think of it as a health concern. However, it does cause me distress and sometimes impedes my regular life, so an official assessment might tell a different story. This revelation strengthened my resolve, and gave meaning to the new goal of reducing my anxiety in public speaking situations. The next logical step in the process was to determine the factors that underlie the anxious response. A 2010 study (Nelson 282) suggests that biased processing in the brain is associated with anxiety disorders. Their study found that someone with public speaking anxiety is more likely to overestimate the risk of negative social interactions in both frequency and impact. This makes sense from an outside perspective, but I still feel stubborn to admit any exaggeration on my part. This is the kind of information I will need to become more open to, so that I may benefit in the future. Public speaking and presentations are a part of life for students, and so I can only make it easier on myself by letting my guard down and addressing these potential biases in my own cognitive processing. This assignment was to address multiple objects of distain in my life, and it turns out that public speaking anxiety is the perfect segue to the second item I had intended to address . I hate embarrassing situations. In fact, I now understand that the fear of being publically embarrassed is probably the root