How Do You Get People to Like You Essay Example for Free

How Do You Get People to Like You Essay Be polite. Be yourself. That way, people like you for who you are. Many of us mistakenly believe that its wrong or conceited, to think we have any good qualities. We may spend a lot of time berating ourselves for our negative qualities, thinking that self criticism is the key to improving our performance. However, a constant focus on our supposed shortcomings can hinder our efforts to make friends with other people. How can we have the confidence to make new friends if we think we dont have much to offer? How can we believe that others could like us if we believe our inner being is flawed? Or if we think we are too boring to interest anyone else? We may wonder what anyone else would see in us if we dont see any good in ourselves. In order for others to be attracted to us, they must be able to easily see our best qualities. If we focus on our good qualities we will have much more confidence that we have something of value to offer in a relationship. If you wish to be socially successful, its important to accept the fact that not everybody is going to like you under all circumstances. Not everyone is going to like the package you come in, especially on first meeting you. Every person has a unique pattern of likes and dislikes which were formed long before they met you. Dont think you have to condemn yourself as a failure if it seems that someone else doesnt like you. If someone seems to dislike you, the reason for that dislike might have little or nothing to do with you. The person who doesnt like you might be fearful, or shallow, or busy or shy. Perhaps you and that person are simply a mismatch for each other at this particular time. Dont take yourself out of the game by deciding that your flaws are bigger than your assets. In fact, some of the very qualities you consider to be flaws may be irresistible to someone else. For all the factors that might cause one person to reject you, there are at least as many factors that will work in your favor with someone else. You might be thirty pounds over your ideal weight, but you may have a wonderful laugh and a huge zest for life. There are many people to whom your extra pounds will literally be invisible. You may drive a shabby car, but you might be a great dancer and a loyal friend. There are people out there looking for loyalty, or fun, or sweetness, or wit, and the package it comes in is not important. If you are worried that you are not beautiful enough to attract friends, keep in mind that not everyone is looking for physical beauty in their friends. You can decide to feel inferior because you dont have much money and you dont drive a nice car. You can believe that this is the reason that you dont have many friends in your life. On the other hand, if you are very wealthy you may be suspicious that everyone is after your money and that nobody really likes you as a person. The point is, you can fixate on just about anything and believe its the reason you do not have friends and cannot make any. Here is an easy way to remind yourself of what your good qualities are: write down a list of your good qualities and review it often. Dont just think in your mind about what your good qualities might be, actually make the effort to write the list. The act of writing helps to reinforce the strength of the ideas in your mind. Dont be embarrassed to give yourself credit for your good points. If you dont have any idea what your good points might be, you might want to ask some of the people you know. When you compile your list of good qualities, be as generous in your praise as your best friend in the whole wide world would be! If you dont have any best friends yet, imagine in your mind a wise and loving friend who knows you truly and appreciates you. What would that person say are your good points? Here are some ideas that might be applicable to you. Feel free to adjust this list for yourself and add to it. My good qualities are: †¢Im kind †¢I never gossip †¢I go out of my way to help others †¢Im good with numbers †¢I have a calm disposition †¢I know a lot about sports You can keep your list with you and read it over every day. Add to it whenever you think of new good qualities you discover in yourself. Be alert for compliments that other people give you. The positive qualities that others see in you can go on your list as well. When you are out there meeting people, frequently remind yourself of all the wonderful qualities you have. Its only a matter of time before you meet other people who will appreciate them too! Learn to relax. Instead of berating yourself for some perceived shortcoming, concentrate on the good qualities you have to offer. Realize that there is an audience for your particular combination of gifts, and go looking for those people who will appreciate them.

Police Officer Essay Example for Free

Police Officer Essay * Police officers work in partnership with the communities they serve to maintain law and order, protect members of the public and their property, prevent crime, reduce the fear of crime and improve the quality of life for all citizens. They use a wide range of technology to protect individuals, identify the perpetrators of crime and ensure successful prosecutions against those who break the law. Police officers work closely with members of the criminal justice system, social workers, schools, local businesses, health trusts, housing authorities, town planners and community groups to provide advice, education and assistance to those who wish to reduce crime or have been affected by crime. I chose to research this job because I like to help people and the best way I can imagine doing this is becoming a cop. * Many police departments require that applicants be high school graduates; an increasing number expect some college education. Applicants usually must be at least twenty-one years of age and U.S. citizens. In many communities, applicants must meet minimum requirements for height, weight, eyesight, and hearing. Because most police departments fall under civil service regulations, applicants must pass written tests that measure their analytical skills. Rigorous physical examinations and background checks are also required. New recruits often participate in formal classroom training in police academies. After graduating they continue to train on the job with experienced officers for three to twelve months. In small communities there may be no formal training program. Officers are usually encouraged to continue their education by taking college courses in criminal justice. Police Officers usually wear a uniform while on duty. Police work can be dangerous and stressful. Officers often deal with violent criminals and may be injured or killed. They must make quick decisions while on duty, yet be tactful and patient with people who are in trouble or have been victims of terrible crimes and abuse. Police protection is provided twenty-four hours a day, so officers may work outdoors in all kinds of weather. Work shifts are usually rotated; however, officers are on call at all times for emergencies. Overtime may be required. Earnings vary, depending on location. In 2004 the median salary for police officers was $45,210 per year. As officers advanced through the ranks, wages increased. The average minimum salary for police sergeants was $49,895 per year, while the average minimum for lieutenants was $56,115 per year. The following are some of the benefits provided to police officers: Family/Domestic partner health and dental plans for active employees and their eligible dependents. Sick leave disability benefits Sworn employees receive twelve days of 100 percent paid sick leave, five days at 75 percent, and five days at 50 percent, upon hiring. Employees may accumulate up to 100 days at 100 percent, 75 percent, and 50 percent paid sick leave. Employees are eligible for a service-connected disability retirement from the date of graduation from basic training.

Hazards and Risk in the Workplace

Hazards and Risk in the Workplace Designated substance can be chemical, biological, physical agent or combinations, given as a designated substance where exposure of worker is prohibited, restricted, limited controlled or regulated. Biological Hazards Patients and residents may be carrying germs of which they are unaware. Working in a health care setting or community care, workforce may be exposed to a huge number of biological hazards. Ergonomic Hazards Clients lifting and transferring patients can be very dangerous if the caregiver is not aware of the proper technique and not properly trained and if the lifting devices are not available. Information Risk Guidelines to avoid incidents with regards to information handling are restrict access to patient healthcare information to safeguard integrity of information and diminish the risk of compromising privacy and allow only certified personnel to access patient health information. Healthcare business areas which are high risk is the integration of IT on healthcare systems which are prone to hacks or attacks which includes patient data, equipment and system software issues vulnerabilities on implanted devices Financial risk In Kindly Residential Care Rest Home, the responsibilities for strategic risk management are determined by board of director’s decisions about the goals and direction of the organisation. Board strategic planning and decision-making processes are thorough. Senior leaders of Kindly Residential Care Rest Home are responsible for all aspects of its financial health. They are charged with understandingthe unitsfinancial situation and not allowing unintended deficits to occur. Employment practices In Kindly Residential Care Rest Home, employees and managers are aware and updated in constantly making improved policies, procedures and documentation within the organization. This is important because it will help minimize unwanted risk such as human error. The organisation retains knowledgeable staff and well qualified human resource manager that will recruit and train internal workforce to develop organisation’s competency. One more risk management strategy is the organisation purchased a well-structured and comprehensive employment practices liability insurance policythat helps pay for any settlements or decisions endowed against an employer defense costs.Employment practices liability insurancepolicies not only deliver coverage for accusations of discrimination, but also extend to coverinvasion of privacy ,sexual harassment, wrongful dismissal, constructive dismissal, , breach oforal or writtenemployment contract, employment relatedmisrepresentation, wrongful discipline, , wrongful demotion, defamation, wrongful infliction of emotional distress, wrongful failure to employ or promote wrongful deprivation of a career opportunity and others. Fraud prevention measures The organisation is aligned to commit its preventative strategies to control fraud exposure of the organisation. Customer service, program delivery entity and policy entity are responsible for handling the fraud risk. In Kindly Residential Care Rest Home, code of conduct, fraud awareness training and fraud policy are highly emphasized during employment screening. High level of security clearance for staff and regular supplier reviews are implemented within the organisation. Regular and random audit checks are practiced as well to minimize fraud exposure. The controls recognized and their related costs are considered with respect to the nature and measure of the fraud risks designed to address. Health and safety policy Obligations and responsibilities All the workforce have an obligation to comply with the organisation’s workplace health and safety policies, instructions, procedures and to ensure a safe place of work. This means that workforces are required to take counteractive action to watch against hazards at workplace or report all hazards which cannot be instantly corrected. The board of directors envoys responsibilities for the management team of work health and safety. In implementing the obligations, the organisation conform to the Work Health and Safety Act of New Zealand and as expected the organisation established processes for regular risk assessments and self-audits within workplaces. The Organisation also ensures the workplace health and safety of all staffs under their control by avoiding or minimising their risk exposure. All individuals have a responsibility to guard and protect others against any hazards or events as soon as they are identified. If the incidents or hazards cannot be corrected immediately, the individual must report the hazards to the proper staff for investigation and incident. Protection of physical assets The organisation owns both long and short term assets. Risk management professionals of the organisation are the ones responsible for protecting organisation’s assets. They monitor and consider events that might have an effect on the assets such as floods, fire and natural disaster. Appropriate actions are planned. The organisation allocated reasonable cost for property repair and maintenance. Patients’s data and information that are written on a large volume of papers and in the computer are maintained and secured as well to minimise risk of loss and destruction. CCTV camera are also installed in the organisation for security purposes and to prevent theft allegations among staff in an incident of property loss. The stakeholders in Kindly Residential Care Rest Home established a risk committee to monitor exposure, actions taken and risks that have materialised and Health and Safety Committee implemented policies and procedures to minimize or prevent these injuries. Kindly Residential Care Rest Home is able to work closely with the local District Health Board for disaster management in case of these emergencies and plans for these events have been put into place Impact of crisis assessment includes Key Personnel required for such activity facilities used computer processes or Programs required External Providers Affected Stakeholders/ Reputation In threat assessment, to counteract the threat, the most cost-effective solution must be identified and implemented. The design of the solution is based on the findings of threat assessment and Recovery should start after the immediate threat to the enterprise has been removed. Recovery solution design After an incident, it is very essential that thorough examines are carried out to apprehend lessons learned, issues recognised, recommendations to be executed, and planning assumptions to be revised. Implementation and communication In an actual emergency, the duty manager or the chief warden will take charge of the whole plan and what plan to implement The plan can be activated through three consecutive steps which are Standby, Implementation and Stand Down. To keep up the ever changing environment, Kindly Residential Care Rest Home has an annual maintenance and updating of the Business Continuity Plan

America, a Democracy? Essay -- essays research papers

America, a Democracy?   Ã‚  Ã‚  Ã‚  Ã‚  America. What’s the first thought to come to your mind after hearing this? Democracy? Land of Rights? That would make sense. America, the land of the free. The land of opportunity. But is America really a democracy? A country for the people, by the people? To an extent, but not exactly. The people of this great country do not have unlimited rights and the freedom to do what they please. Many of the rights guaranteed by the Bill of Rights and the U.S. Constitution are being limited and slowly being taken away.   Ã‚  Ã‚  Ã‚  Ã‚  Since America is such a powerful country, it follows that the United States President is one of the most powerful figures in the world. Considering the United States is a democracy, it would seem obvious that the people directly elect their leader. Wrong. The popular vote has nothing to do with the election of the president. Instead, the way the president is decided is by whichever candidate wins the most electoral votes. Each state has a certain amount of electoral votes based on the number of people in that state’s House of Representatives. In most cases, the winner of the electoral vote is also the winner of the popular vote. In a few rare cases though the winner of the popular vote lost the election. This shouldn’t be. The U.S. should have the people directly elect the president. A most recent case was the last election of 2000, Bush vs. Gore. Gore had the popular vote won by a margin...

Leonhard Euler Essay -- essays research papers

Leonhard Euler Euler made large bounds in modern analytic geometry and trigonometry. He made decisive and formative contributions to geometry, calculus and number theory. Born: 15 April 1707 in Basel, Switzerland Died: 18 Sept 1783 in St Petersburg, Russia Introduction Euler's father wanted his son to follow him into the church and sent him to the University of Basel to prepare for the ministry. However geometry soon became his favourite subject. Euler obtained his father's consent to change to mathematics after Johann Bernoulli had used his persuasion. Johann Bernoulli became his teacher. He joined the St. Petersburg Academy of Science in 1727, two years after it was founded by Catherine I the wife of Peter the Great. Euler served as a medical lieutenant in the Russian navy from 1727 to 1730. In St Petersburg he lived with Daniel Bernoulli. He became professor of physics at the academy in 1730 and professor of mathematics in 1733. He married and left Johann Bernoulli's house in 1733. He had 13 children altogether of which 5 survived their infancy. He claimed that he made some of his greatest discoveries while holding a baby on his arm with other children playing round his feet. The publication of many articles and his book Mechanica (1736-37), which extensively presented Newtonian dynamics in the form of mathematical analysis for the first time, started Euler on the way to major mathematical work. In 1741, at the invitat...

coaching tips :: essays research papers

The Coaching Tip WHO doesn't want to accomplish more in life? Don't most of us want more time? More money? More love? More satisfaction? Yet, isn't our tendency to go for it rather than simply having it all come to us? A strong personal foundation includes 10 distinct stepping stones which, when linked together, provide a solid yet personalized base on which to build one's life. And, in a world which sometimes appears to be built on quicksand, we all need a personal foundation on which to depend. These 10 stepping stones of a Personal Foundation are: A past which you have fully completed. A life which is based fully on integrity. Needs which have been identified and fully met. Boundaries which are ample and automatic. Standards which bring out your best. An absence of tolerations. Choosing to come from a positive place. A family which nurtures you. A community which develops you. A life fully oriented around your true values. Anyone who is living a meaningful life must have a strong personal foundation so they can afford to look up at the stars instead of down at their feet. Having a strong personal foundation allows a person to fully use their skills and resources, because instead of constantly worrying about the fundamentals of their life, they are free to focus on the task at hand. The process of building a personal foundation also teaches a person how to eliminate and prevent many common problems that are usually thought of as an expected part of life." Where can you go for help in this area? A Master Coach is uniquely trained to help clients strengthen their own foundation, and is a model of how well the process works.

APC 309 Strategic Management Accounting

Module Title: Strategic Management Accounting Module Code: APC309 Individual assignment SUNDERLAND BUSINESS SCHOOL Date: 16/04/2011 Introduction: As Gowthope (2005, p. 148) said that: â€Å"A budget is a plan, expressed in financial and/or more general quantitative terms, which extends forward for a period into the future. Budgets are widely used in organisations of all types and sizes. † –Budgeting actually refers to the process that, after the strategic plan of the business has been made, companies made a short term plan (usually one year) to meet the strategic purpose. Traditional budgeting has offered a lot of contributions in so many years? ractice; no one has a better summary of all advantage of traditional budget as (Umapathy, 1987, p. xxii): â€Å"I believe that budgeting provides managers with a wonderful opportunity to rejuvenate their organisations. There is no other managerial process I am aware of that translates qualitative mission statements and corporat e strategies into action plans, links the short term with the long term, brings together managers from different hierarchical levels and from different functional areas, and at the same time provides continuity by the sheer regularity of the process. . So, many organisations use a „traditional budget? –the short term plan that meet the strategic purpose of the organisation- because of the easiness of preparation and its simplicity to coordinate budget across various departments. But it seems it is more and more unsuitable for the modern business. In this paper, I will give a brief induction for traditional budgeting; and then discuss the strengths and weaknesses of the traditional budgeting; last I will explain and evaluate the alternative approach that will be more accurate and work for today? dynamic markets. In the second part I will tackle the working capital concept by giving some ways to improve parts of Working capital in XYZ limited which is a medium sized manuf acturing business. Today, reducing costs, improving quality, and saving time through all parts of an organisation are the mantra of executives in every industry. In their pursuit of those goals, however, they tend to overlook working capital productivity because it is an indirect measure. They see it as a narrow financial calculation and miss its link to the overall systemic performance of an organisation. As a result, executives forfeit a powerful lens to track improvements across the company. Section 1: Budget and Budgeting: â€Å"Budget reflects a choice – not an easy choice, but the right choice. And when you think about it, the only choice. The choice to take the responsible, prudent path to fiscal stability, economic growth and opportunity. † –George E. Pataki. An American politician. The use of budgets dates back to 1920 where it was used as a financial tool for business enterprises (Hofstede, 1968, p. 20). The budget is an indispensable management tool or as Horngren, T. et al, (2000, p. 178) said: â€Å"the most widely used accounting tool for planning and controlling organisations†. A budget is an estimated plan over a given period of time expressed in monetary terms for the allocation of funds and distribution of scarce resources through internal communication to get the planned activities done. When used properly a well designed budget can be a helpful tool in decision-making, it can ensure the controlling process and performance measurements, facilitate communication, and can act as a motivational tool. (Highered. mcgrawhill, accessed 2011) â€Å"Budgeting may be defined quite simply as the process of compiling budgets and subsequently adhering to them as closely as possible† (Maitland, 2000, p. 1). Though budgeting process is complex, time consuming and requires a lot of decision-making (refer to Appendix, figure. for an outline of the budgetary process), it is an essential part of the strategic planning process that helps communicating the goals of the organization and facilitates, coordinates and controls various departments of the organization in order to steer the company to its desired goals, it involves the annual cycle to plan actions, better coordination and allocation of resources, and at the end measuring and controlling performance with regard to the pla ns agreed. Traditional Budgeting Approach (TBA): There are various methods to prepare a budget. Here we are concerned with the traditional approach to budgeting known also as the incremental budgeting which involves basing next year? s budget on the current year? s results plus an extra amount for estimated growth or inflation (APC309 Workbook, 2008). It is claimed that in many organisations the traditional budgeting remains widespread, and that 99% of European and US companies are using budgets and have no intention of abandoning them, it was also stated that over 60% of those companies claim that they are not highly satisfied with their current budgeting systems and are continuously trying to improve the budgeting process to meet the demands set for management in creating sustainable value (report: Better Budgeting, 2004, p. 2-3). From this perspective it is obvious that traditional budgeting approach and budgets in general hold many benefits as well as problems. Implementing TBA on a static market: When implemented within businesses, such technique will be more suitable for firms where each year? s performance and activities are similar to the previous one and conditions are predictable, an active market that can take up large sales which do not change much in relation with changes in prices and where demand is slack. If we take an example of a company „A? operating in a static market, let? s say that our company is selling „sugar?. So for such company using the TBA (Traditional Budgeting Approach) will be perfect and will work well because first, sugar is a necessary good so the market demand is steady i. e. the buying behavior of sugar does not change much, it is a food basic that people consume on a daily basis, the market demand in this case is predicted and quite unchanged, so „A? an constantly base its expenditures and estimated revenues on those of previous year and that makes it suitable for our company here to be using an annual budget based on historical data, thus, will make it easier to compare actual results with budgets and monitor organizational functions. Second, senior managers won? t be forced to spend an amount of time reviewing budgets. Again, focusing on the benefits of TBA we can say that this approach enhance controlling and is asy to prepare and understand , administratively unambiguous and simple to operate, so this method is cheap. It is probably the simplest method that ensures a quick and low preparation costs, however, I would insist on the point that for any business it? s good to provide and introduce change gradually, therefore, the only major weakness that would limit our company „A? is the fact that senior managers will never be able to have a general and overall picture of the performance, and also some people will be offended when it comes to supervision, humans tend o work at their lowest possible standards especially when there is lack of motivation and rewards, as a matter of fact the budgetary control touch on the culture of blame and mistrust, plus there is a fact that scarce resources will not be allocated effectively and efficiently so that would create an obstacle and prevent employees from performing at their best, and their creative spirit would then be stamp down. Implementing TBA on a dynamic market: â₠¬Å"Fixed budgets don? t work today. A budget is a too static instrument and locks managers into the past – into something they thought last year that it was right. To be effective in a global economy with rapidly shifting market conditions and quick and nimble competitors, organisations have to be able to adapt constantly their priorities and have to put their resources where they can create most value for customers and shareholders. † Juergen H. Daum. (A management and executive adviser) As Juergen explained, budgeting tools that were created to serve businesses back in the manufacturing era where production costs and revenues were foreseeable will not be effective in today? s „information age? where the market is globalised. This traditional annual budgeting system is not suitable or relevant in rapidly changing markets, many companies believe that budgets do not deal with intangible assets like brands and knowledge and fail to focus value (Davies T. and Boczko T. 2005 p. 408). In today? s global market where conditions and demands are unpredictable and hard to be determined in advance, an event like 9/11, the Arab? s revolution, and the earthquake that hit Japan will definitely change the way organisations do their businesses especially those big companies that are opened to the global market, in this matter, adopting a raditional budgeting approach will cause more damages. Considering a company „B? operating in a typical dynamic changing market let? s assume here that „B? is a hotel business where each year? s activities and number of tourists accommodated are completely different than the previous year and hard to be predicted, this kind of businesses system is changeable, adjusted constan tly and boost employees to give their best with waking up their creativity spirits, our company „B? needs a full use of its potentials and should keep innovating in order to survive in its market and that would not be achieved if employees and managers are not motivated. For „B? to become the success that all companies are striving to reach today, it has to avoid relying on historical performances or fix their employees performance on fixed budget to deliver the planned outcome, and if adopting any method of budgeting it should do so by designing it on a „bottom-up? basis. So, in a dynamic market a use of TBA would cause more problems to such companies. TBA is inaccurate for our company „B? where each year is very different to the previous one in terms of activities, cost, and market demand. Here, I would suggest the use of the ZBB (Zero Based Budgeting) approach since the number of tourists change according to seasons and unexpected events worldwide, it will be beneficial to re evaluate all of the company? s activities from a zero base annually and respond to any condition changes within the environment each year. Thus, inefficient and inaccurate activities will be removed and any wasteful cost will be cut which means a better allocation of resources, also, this technique promotes the bottom-up of budgeting which will automatically lead to bring up the motivation of employees. Nevertheless, the weakness of this method is that each pound spent must be justified, and if we have a big company which held too many activities, using a ZBB will generates more work that is hard to managed, and because decisions are made at the budget time, it will be difficult to react and deal with changes that might occur during the year, so here as a suggestion the company while performing the zero based budget may use a rolling budget every year. Furthermore, it will be challenging especially for private organisations that have indefinable activities and discretionary cost to be put into decision packages. There were some argues about the traditional budgeting approach being as a barrier to change. For that Hope and Fraser (1997) suggested a new alternative process to budgeting which is termed as â€Å"Beyond budgeting approach†. They claimed that this approach will free people from the top-down performance contract and allows a use of knowledge and best allocation of resources to satisfy customers and beat competitors. This alternative way of budgeting is about the development of leadership principles and help decision making to be made. The thing about it is that this model does not lead to change in some parts but require a systems transformation. (Refer to appendix, figure: 2 for a budgeting and beyond budgeting model). However, even with this model that will break managers free from the annual performance of budgeting, it has a disadvantage that it underpinned their organisation? s performance transformation. To alleviate all those limitations, companies must seek for alternatives approaches that combines and put in practice the benefits of each approach without forgetting to give priority to employees and managers? otivation, the human aspect behavior plays a crucial part in every business because success of any company nowadays rely on its number one asset which is the human labor (knowledge, know-how, expertise, experience†¦.. etc. ). Section 2: Working Capital: Nowadays, the market requires companies to diversify its products and services within a short time delivery, so, companies are striving to keep o n track with global markets? need and competition from other rivals in order to meet the customers? expectations and satisfy their needs. For that, companies will have to focus its resources and potentials to create the business? value, satisfy the shareholders and balance between its liquidity and profitability, this will be through improving all forms of cash flow and increasing their working capital productivity. In an article from (tutor2u, accessed 2011) working capital is: â€Å"The period of time which elapses between the point at which cash begins to be expended on the production of a product and the collection of cash from a customer† (Refer to appendix, figure. 3 for working capital cycle) Working capital is the concern of all firms; it is defined as the current assets minus the current liabilities (working capital = current assets – current liabilities). While in the APC309 Workbook, (2008) it was said that: â€Å"Working capital required because the company has to pay for goods and services before recovering the money from customers, and represented by the difference between current assets and current liabilities. † Company XYZ: a manufacturing business: Considering XYZ Limited, a medium sized manufacturing business. For such manufacturing businesses, XYZ needs to spend cash to purchase raw materials (inventories) and manufacture them. While waiting for the finished goods to be sold it needs to stock them. After selling the goods it can incur some costs. And before receiving the revenue (cash) it waits for the cash receipts from the customers (accounts receivable) and can delay the payments to vendors (accounts payable). So, working capital is an important source of cash throughout the business cycle. (Refer to Appendix, figure. 4 for a diagram of the Working capital cycle in manufacturing firms). Improving XYZ’s working capital: Focusing on working capital will help XYZ? s manager to create lasting value, examine the organisation? productivity and efficiency, and XYZ will become stronger. Starting with the following formula: (working capital = current assets – current liabilities) to analyze the operating cycle of XYZ in order to improve its working capital. Liquidity assessment: cut-down the operating cycle. Shorten XYZ? s operating cycle and cash holding costs by maintaining a cash balance, this would be done through a trim of the stock on hand – the XYZ company however should pay attention not to be in short of stock which will affect it badly and will be unable to meet its customers? emand-, also, make a consignment of stock obtained, lowering the time needed to manufacture the goods and selling them, and a cut down of cost which will definitely increase their cash. Stock when necessary: reduce inventories. Inventory surplus is one of the ways to neglect any cash sources, so in order to boost cash flow; XYZ would better reduce production time and its inventories and lowering them to avoid over production. By a reduction in inventories meaning made a consignment of stock, managing the supply chain and varying the goods manufactures. Also, to increase profitability, XYZ can benefit from cutting costs through this reduction in both inventories and warehouse space needed. Accounts receivable funding: get paid now. Until the customer pays XYZ, the sale is not considered as achieved. The working capital cycle must be completed or the company will regret making the sale if the customer went away without paying. So, XYZ should take into consideration terms of payments, invoices and well manage the cash. Some ways to improve the cash will be speeding up cash collection, ameliorate the reduction of payment terms and collection processes, besides, a strong credit control and a rigorous collection procedures will help to positively improve profitability. While collecting past due cash, XYZ should secure favorable payment terms, obtain payments, approve new customers and maintain a good relationship with clients that pay on time while keep an eye and be careful from both doubtful and risky clients. Accounts payable: negotiating the best agreements possible. While dealing with suppliers, XYZ should rethink payment terms and avoid early payments. Paying its suppliers before the due date is strongly unacceptable and better be avoided, and accomplished within or after the due date. Raising terms and procedures of payments, and optimizing discount is highly recommended. Seeking an increase in cash flow operation and the company? s profitability will be achieved by asking for longer credit terms from suppliers, and if possible take inventories on consignment. Other ways to improve working capital can be to consider leasing when thinking of purchasing equipments this will improve the amount of cash in short term only but can lead to additional costs in long term. Also, consider outsourcing and benefit from price differences. And always negotiate and try to get discounts, besides there is the possibility of converting debtors? cash into factoring or utilizing a bank loan or overdraft. For a XYZ Limited to have working capital the current assets must exceed the current liabilities, it is managing the use of both current assets and current liabilities to improve the company? s short-term liquidity. There is a direct connection between working capital cycle and business performance. Hence, the most important thing that? s needed to improve and have an efficient working capital cycle is not actually focusing on components of balance sheet that are: inventory, accounts receivable, and accounts payable but is the business cycle TIME that is measured from the time we identify the customer? s need, till we receive the payment of the finished product. Then, by reducing any necessary cash or inventory we will succeed to reduce our working capital cycle. Almost any business performance improvement effort influences the working capital (W. C) cycle productivity of the business here talking about XYZ and will also affect other businesses that deals either directly or indirectly with it. For example if XYZ did not succeed in collecting cash from its clients it cannot be able to pay its suppliers and debtors and that will be bad since the relationship between them and XYZ will be sensitive so, that would build a miss trust and XYZ will find difficulties to be supplied or get credits this later will cause trouble because it will not have any raw materials and the business will then stop operating. Taking XYZ limited as a manufacturing business, any of the ways to improve its W. C that was mentioned above will help cut down costs and boost overall working capital productivity by shrinking inventories and driving down accounts receivable. Also, the results behind paying suppliers before the due date would lead to reduction in working capital productivity. XYZ and should closely track its competitors? improvements to ensure that it is performing better. Furthermore, it can be useful to benchmark itself with regard to other industries for perceptions and opportunities to improve working capital productivity and cash flow. Benchmarking the performance of XYZ? system as a whole more accurately with regard to benchmark with other companies in the same sector would be of benefits. References: -APC309 Module Workbook, 2008. „Strategic Management Accounting Version 1. 0?. University of Sunderland. -Davies T. and Boczko T. , 2005. „Business Accounting And Finance. Second Edition.? Mc Graw Hill Education, p. 408. -Drury C. , (2001) „Management Account ing for Business Decisions. Second Edition.? Thomson Learning. -Gowthope C. , (2005) „Management Accounting for non specialists, 2nd Edition?. Thomson Learning, p. 148. -Hofstede G. H. , (1968) „The Game of Budget Control?. Koninklijke Van Gorcum & Comp. N. V. , Assen, p. 20. -Hope J. and Fraser R. , (1997) „Beyond budgeting: breaking through the barrier to „The third wave. Management Accounting, London. -Horngren Charles T. , Foster G. , Datar M. (2000) „Cost Accounting: A Managerial Emphasis, 10th edition?. Upper Saddle River (NJ). Prentice Hall, p. 178. -Lucey T. (1996) „Management Accounting, 4th Edition?. London: Letts, p. 108. -Maitland I. (2000) „Budgeting for Non-Financial Managers: how to Master and Maintain Effective Budgets?. London. Pearson Education, p. 1. -Satish B. M. (2002) „Working Capital Management and Control: Principles & Practice?. New Age International (P) Limited, Publishers. Web sites: ? Behavioral Aspect of Budgeting: http://highered. mcgraw-hill. com/sites/dl/free/0074711717/57451/Budgeting_Ch09. pdf [Accessed the 25th February 2011] ? Better Budgeting: A report on the Better Budgeting forum from CIMA and ICAEW. (2004), Chartered Institute Of Management Accountants. P. 2-3 http://www. cimaglobal. com/Documents/ImportedDocuments/betterbudgeting_techrpt_2004. pdf [Accessed the 28th February 2011] ? The Beyond Budgeting Round Table (BBRT) www. bbrt. org [Accessed the 5th March 2011] ? Beyond budgeting http://www. juergendaum. com/bb. tm [Accessed 5th March 2011] ? Working capital cycle http://tutor2u. net/business/finance/workingcapital_cycle. htm [Accessed 20th March 2011] http://blog. maia-intelligence. com/2009/06/15/working-capital-management-and-bi-part-ii/ [Accessed 20th March 2011] Appendix: Source: Lucey, 1996, p. 108. Figure. 1: Outline of the budgetary process. Figure. 2: From traditional budgeting model to the emerging management model „beyond budgeting? Source: http://blog. maia-intelligence. com Figure. 3: Working capital cycle. Source: tutor2u. net [accessed 20th March 2011] Figure. 4: working capital cycle for a manufacturing firm