Department of Accounting, Finance and Economics Assignment

Department of Accounting, Finance and Economics - Assignment Example The following paper will inquest and scrutinize the factors which are responsible for the volatile behavior of commodity process in the agricultural sector. Agricultural commodities are the hub of the world economy as every thing is dependent on the agricultural products especially in third world (Goodman, 1997). Different data sources and analysis techniques will be deployed in order to depict the exact factors responsible for the fluctuations in the agricultural commodities. Discussion The first and foremost factor in the fluctuations in the commodity prices of the agricultural sector is the increasing gap between the demand and the supply. The demand has been increasing every day in third world countries, many parts of Asia and China whereas there has been no emphasis on the production part which is basically focused on the first world countries (Johnston & Mellor, 1961). Similarly, numerous macroeconomic and financial factors are censurable for the metamorphosis of the prices of commodities in the agricultural sector. In the similar fashion, high novelty and revision in the dollar prices due to the global shifts in the political and financial crisis is also responsible for these rate changes and imbalance in the prices. ... There are many other factors on which the experts have a split. For example, Gilbert and Morgan (2010) and De Schutter (2010) said that the fluctuations in the local agricultural commodities and food items are caused by irresponsible speculations and bad rumors culture which can bring the market up and down within no time. The stock market example has been used by them as an analogy but there is a difference o opinion in this theory and many experts like Irwin and Sanders (2010), do not consider this theory conforming the practical approach. According to a study, the extent of fluctuations in the prices o agricultural commodities have been recorded as the highest in past nineteen years and this is a very alarming measure indeed because of these high ate o fluctuations, the global economies are taking new turns. Other minute factors include climate changes, unintended wars, disasters and cultural collapses throughout the world. Another very important factor behind the dramatic rise of agricultural commodities is the integration initiatives of the energy and agricultural markets in many production based countries. For example, in America, the prices for the paramount and importunate agricultural commodities like soybean, corn and wheat rose up with a rate of around 148, 123, and 154 percent respectively. According to experts in America, around 70 to 75 percent of increase in the agricultural commodities is due the engendering and production of bio fuel and diesel based materials. The periodic abatements in the hedging efficiency is also a very conspicuous and considerable factor in the changes of prices agricultural commodities. For example, the hedging

Arabic writing system Essay Example | Topics and Well Written Essays - 1250 words

Arabic writing system - Essay Example 800 B.C.), whence came the letters of the ancient Roman alphabet, and ultimately all Western alphabets. The North Arabic script, which eventually prevailed and became the Arabic script of the Quran, relates most substantially and directly to the Nabatian script, which was derived from the Aramaic script. Old Aramaic, the language of Jesus and the Apostles, dates from the 2nd millennium B.C., and some dialects of which are still spoken by tiny groups in the Middle East. Arabic script still shares with Aramaic the names of the alphabet letters (Alef, Jeem, Dal, Zai, Sheen, etc.); similar graphic representation for phonetically similar letters (Sad and Dad, Ta and Tha, etc.); connections of letters in the same word and several forms of each letter depending on its location in the word, except for letters that cannot be connected to the letters which come after them (Alef, Dal/Dthal, Raa/Zai, Waw). The Arabic alphabet contains 18 letter shapes, by adding one, two, or three dots to letters with similar phonetic characteristics a total of 28 letters is obtained. These contain three long vow els, while diacritics can be added to indicate short vowels. With the spread of Islam, the Arabic alphabet was adapted by several non-Arab nations for writing their own languages. In Iran Arabic letters were used to write Farsi, with the addition of four letters to represent the phonetics that did not exist in Arabic: p, ch, zh, and g. The Ottoman Turks used the Arabic alphabet until 1929 and added still another letter. This alphabet was also used to write other Turkish languages and dialects, such as Kazakh, Uzbek, etc. Several other languages used the Arabic alphabet at one time or another, including Urdu, Malay, Swahili, Hausa, Algerian Tribal, and others. Arabic script is not used solely for writing Arabic, but for a variety of languages. In each language, it has been modified to fit the language's sound system. There are sounds not found in Arabic, but found in, for instance, Persian, Malay and Urdu: such sounds don't correspond to any sound from the Arabic system of sounds for which the Arabic alphabet can be used. For example, the Arabic language lacks a [p] sounding letter, so many languages add their own letter for [p] in the script, though the symbol used may differ between languages. These modifications tend to fall into groups: all the Indian and Turkic languages written in Arabic tend to use the Persian modified letters (and those are the languages that are "geographically closer" to Persia), whereas West African languages tend to imitate those of Ajami, and Indonesian ones those of Jawi. A writing system in which the Persian modified letters are used is called Perso-Arabic script by the scholars. Generally, in countries wher e national education is effective and where the national language is written in Arabic script, Arabic script is also used to write the other languages used in that country (Coulmas 20). The Arabic alphabet is written from right to left and is composed of 28 basic letters. Adaptations of the script for other languages such as Persian and Urdu have additional letters. There is no difference between written and printed letters; the writing is unicase (i.e. the concept of upper and lower case letters does not exist). On the other hand, most of the letters are attached to one another, even when printed, and their appearance changes as a function of whether they connect to preceding or following letters. Some

Language of Hysteria Essay Example for Free

Language of Hysteria Essay During the 1690s, there was a mass hysteria due to beliefs of the existence of witches. With this fact came the Salem Witch Trials which occurred in Salem Village, Massachusetts. A young child began to exhibit abnormal behaviour and so she was taken in to be examined, they found nothing that could cause her to behave in such a manner. The entire village began to panick and started praying to God to get rid of evil. Conspiracies began to take rise in the village that made the villagers believe that there were witches in their village. Three women were accused of having relations with the Satan. Accusations grew larger and soon there were people who were tried and were killed. These events led to the Salem Witch Trials. The hysteria grew and began to worry people of high standings and soon the assumptions of witchcraft ended. Due to misconceptions and assumptions the Salem Witch Trials began. During the 1930s there was a mass hysteria of alien invasions. This became known as the War of the Worlds radio broadcast sent out by Orson Welles. Welles adds in effects that could cause the people to go into a state of panic. He got the idea from H. G. Wells’ novel The War of the Worlds. Bad timing became the cause of this mass hysteria. Due to the fact that during those times many people had radios and most families were listening to popular shows and by the time they got to Welles’ they were not able to listen to his introduction. They heard music being interrupted and surprising news of explosions and other sounds that exemplify an alien invasion. The people that tuned in to the radio broadcast late misunderstood and developed a fear and this one of the many causes of the mass hysteria in the 1930s. During the 1690s and the 1930s there mass hysterias like the Salem Witch Trials and the War of the Worlds radio broadcast that caused people to go into panic. These panic attacks were due to misconceptions and misunderstandings. The connection between these two mass hysterias is that the people misunderstood in both situations and caused them to start to panic. These two events have the common factor of how the events occurred.

The challenges of Globalization on Small Medium Enterprises

The challenges of Globalization on Small Medium Enterprises description on project background. In the context of Tanzania, the majority of SMEs fall under the informal sector and engaging up to 4 people, in most cases family members or employing capital amounting up to Tshs.5.0 million / $3,235.83. (Tanzania chamber of commerce industry and Agriculture, 2007). The SMEs cover non-farm economic activities mainly manufacturing, mining, commerce and services. (Tanzania ministry of industry, trade and marketing, 2007). It is easy to establish SMEs all over the world and in Tanzania in particular, since their requirements in terms of capital, technology, management and even utilities are not as demanding as it is the case for large enterprises. These enterprises are also established in rural settings and thus add value to agro products and at the same time facilitate the dispersal of enterprises. About one third of the GDP originates from SME sector. The sector has more than 1.7 Million businesses, engaging about 3 million people, who occupy about 20% of the total labour force. 92% of the annual school leavers (at all levels) in Tanzania are potentially absorbed by the SME sector. There are about 700,000 new entrants in the SME sector every year. (Saiguran, 2007) Therefore it is reflected already that the SME sector plays a crucial role in the economy. Some of the problems faced by SMEs in Tanzania include; SMEs constitute a higher credit risk because they often lack diversification in their sources of income and/or are concentrated relative to large firms, with the possible exception of SMEs oriented to the consumer segment (niche market). They also suffer from significant uncertainty regarding potential tax liabilities. There is no Opaqueness in balance sheets therefore reflecting weak accounting practices and non-transparent information. (Tanzania chamber of commerce industry and Agriculture, 2007). All this results into banks being reluctant to lend them money as a result of low credit worthiness which leaves SMEs with limited access to finance. A report from the (ministry on industry and trade in Tanzania, 2002) reports the following problems; In addition, Business Development Services, namely services related to entrepreneurship, business training, marketing, technology development and information are underdeveloped and not readily available. There is very weak demand for the products produced by SMEs arising from low and dwindling consumer purchasing power as well as competition that arises with similar imported products. Then again, SME operators lack information as well as appreciation for such services and can hardly manage to pay for to pay for the services. As a result, operators of the sector have rather low skills. Also, there is no umbrella connection for SMEs. Simultaneously, the institutions and associations supporting SMEs are weak, fragmented and uncoordinated partly due to lack of clear guidance and policy for the development of the sector. Distortionary regulations affecting SMEs (Unfavorable legal and regulatory framework). Tanzania is listed among the top 10 difficult countries to build a warehouse, it takes 12 procedures to register a property,  ¾ of Tanzanian businesses complain of taxation administration (local and central), and it takes 13 procedures to start a business and 35 days long, at a cost of 161 percent income per capita. These all add up to high compliance costs which tend to reduce the resources needed for investment and high operational costs which results into high competitiveness of local domestic products both in internal and external markets. Another problem is as far as the infrastructure is concerned, the roads are very bad thus affecting transport in a way that it makes it difficult and costly to move goods from one point to another within the country and adds up to costs. The power is also unreliable and unstable and can disrupt deadlines. Communication is undeveloped and costly. It is difficult to obtain network in rural areas thus affecting the business activities of SMEs and also affecting their cost of production. A heavy cost of compliance resulting from their size is also one of the problems faced by SMEs. This is because they have limited resources (in terms of financial means and manpower). Their spending for market research and market entry take a much higher proportion of their total spending. All in all, this project will be analyzing the importance of SMEs in Tanzania and evaluate their contribution to the country. The problems/ challenges in terms of growth, and their characteristics in relation to Globalization including those mentioned above will be analyzed. Various ways in which SMEs can grow to venture into global markets will be sought for their betterment and future enhancement in their businesses. C. Brief description of project objectives. (i.e. scope of proposal, constructs used, limitations and significance) The objective of this project is to investigate the impact of Globalization on SMEs in Tanzania. These impacts can be both positive and negative. It will also evaluate the importance of SMEs in the Tanzanian economy. Secondly, would be to assess the challenges faced by SMEs due to Globalization. Thirdly, a review on existing Government promotion policies and strategies on the Tanzanian SMEs will be prepared. Lastly but not least, is to determine ways in which the SMEs in Tanzania can grow to become global players. As for the limitations; for the questionnaires sent out, the responses may be limited. It would be very difficult to get the respondents to answer to the questionnaires. Another limitation would be in the selection of the sample. The sampling frame is very vast thus making it quite difficult to get the correct respondents for the interviews and questionnaires. As for the sample size which is about 100 people, the limitation is that the cost is relatively high especially when conducting long distance interviews over the phone. Lastly but not least, this research is limited to SMEs in Dar-es-Salaam so it may not be possible to generalize it to the whole of Tanzania. The significance of this project is to look at the challenges of SMEs in Tanzania and use it as a prototype to other African countries. There is very limited research on SMEs in Tanzania and this project will contribute as a research paper. This project will also open the eyes of SMEs to growth and development in relation to Globalization. D. Brief description of the models/theories/concepts that will be used in this proposal. (i.e. consumer behaviourism model, CSF and etc.) In this project some important internationalization models will be used, they include, eclectic paradigm of international production by Professor John H. Dunning, Porters Diamond and the theory of Marginal Industry Dilation by Professor Kiyoshi Kojima. There are three reasons for the use of the eclectic paradigm. Firstly the paradigm is based on the theories about multinational enterprises. Secondly, the model can be used to explain all types of foreign direct investment (FDI). And lastly, and most importantly, the model embraces all the three ways in which a firm can engage in foreign activities, i.e. foreign direct investment, trade, and contractual resource transfers, e.g. licensing, technical assistance or management and franchising agreements. Moreover, the model makes it possible to predict which route will be preferred. (Bulcke, 2003) According to (Porter, 1998) he designed a diamond shaped basis of a framework to illustrate the determinants of national advantage. This diamond illustrates the national playing field that countries establish for their industries. Porters Diamond will be used to demonstrate the factors of competitive advantage for SMEs in Tanzania. The theory of marginal industry dilation is an important foreign direct investment theory to developing countries. Its connotation fits for the true situation of countries middle and small size enterprises. SMEs could use this theory as a direction thus helping them go abroad bravely and develop multinational management. The expansive environment and ardent competition will develop SMEs and prepare them to face the challenge of the economic globalization. (Free papers, 2006) E. Academic research being carried out and other information, techniques being learnt. (i.e. literature what are the names of books you are going to read / data sets you are going to use) The books used will mostly talk about Globalization, the African economy, Internationalization. Journals, articles, and magazines will also be referred to. Some of the references include the following: Articles Bulcke, 2003, Internationalization towards China after its Accession to the WTO, Katholieke Universiteit Leuven, Departement Oosterse Slavische Studies, viewed on 1st September 2010, available at; http://webcache.googleusercontent.com/search?q=cache:8b2CcFrEHjcJ:www.cemcweb.com/publication_doc/Opportunities%2520for%2520SMEs%2520in%2520China%2520-%2520thesis%2520of%2520Mattias%2520Grillet.doc+Internationalization+towards+China+after+its+Accession+to+the+WTO+Are+There+Opportunities+for+European+SMEs%3Fcd=1hl=enct=clnkgl=my Ministry of Industry, trade and marketing, 2007, SME opportunities, viewed on 1st September 2010, available at; http://www.mitm.go.tz/sme.php?cat=15subcat=37 Porter, 1998, Competitive advantage of nations, Free Press, New York, available at; Saiguran, E, 2007, SME development: Tanzania experience, Small Industries development organisation Tanzania, viewed on 4th September 2010, available at; http://docs.google.com/viewer?a=vq=cache:0jN8a7r-DCsJ:www.waitro.org/files/downloads/Proceedings/sme-steap2007/sido-emmanuel.pdf+how+many+smes+are+there+in+the+tanzaniahl=engl=mypid=blsrcid=ADGEESghp7HJMdzm_ULpMCu59dGnkdxqIEsl7lohW3QCim1T-r7i3o9A2e2nZREV-rzeZHiflUEgS0o6BGlaBeKaiIT-znZTgR6c7uJfyL2qfmmhJlvZTePS8gLx6PAc6KWjejorEj9Qsig=AHIEtbRoLuZ9Z25T1nC3r7Y7Rk4pTScmtQ Books Africa Development bank, OECD, 2005, African Economic Outlook, OECD publishing, France, available at; http://books.google.com.my/books?id=vTWgJJJgYswCpg=PT411lpg=PT411dq=SMEs+classification+in+Tanzaniasource=blots=GvWIHnE-1jsig=rJ8zK7Co_wNNSD5lgemJsqiXmNAhl=enei=ek5-TPX3C4LyvQOp262EDgsa=Xoi=book_resultct=resultresnum=9ved=0CDoQ6AEwCA#v=onepageq=SMEs%20classification%20in%20Tanzaniaf=false Athanassiou, N. D. Nigh, 2002, The Impact of the Top Management Teams International Business Experience on the Firms Internationalization: Social Networks at Work, Management International Review 42:2,pp.157-181. Bjà ¶rkman, I. M. Forsgren (ed.), The Nature of the International Firm: Nordic Contributions to International Business Research, Handelshojskolens Forlag, Copenhagen, s.d.. Bà ¼rgel, O. A. Fier G. Licht G. Murray E. Nerlinger, 1998, The Internationalisation of British and German Start-Up Companies in High-Technology Industries, Discussion Paper No.98-34, Centre for European Economic Research. Creswell, J, W., 2003, Research design: Qualitative, Quantitative and Mixed Methods Approaches, 2nd edition, Sage Publications, Inc, United Kingdom Ghosal, V. L. Prakash, 1999, The Differential Impact of Uncertainty on Investment in Small and Large Businesses, HWWA-Diskussionspapier 81, HWWA-Institut fà ¼r Wirtschaftforschung, Hamburg. Johanson, J. Associates, 1994, Internationalization, Relationships and Networks, Studia Oeconomiae Negotiorum 36, Acta Universitatis Upsaliensis, Uppsala. Johanson, J. J.-E. Vahlne, 1994, The Internationalization Process of the Firm: A Model of Knowledge Development and Increasing Foreign Market Commitments, Journal of International Business Studies 8 (Spring/Summer 1977), pp.23-32, as publicized in Johanson Associates, , pp.50-61. Johanson, J. J.-E. Vahlne, 1994, The Mechanism of Internationalization, International Marketing Review 7 (1990), pp.11-24, as publicized in Johanson Associates, pp.84-95. Johanson, J. F. Wiedersheim-Paul, 1994, Internationalization of the Firm: Four Swedish Cases, Journal of Management Studies 12 (October 1975), pp.305-322 as publicized in Johanson Associates, , pp.34-49. Pedhazur, E, J., Schmelkin, L, P., 1991, Measurement, Design, and Analysis; an Integrated Approach, Lawrence Erlbaum Associates, Inc, Hillsdale, New Jersey Peter, J., , 1990, Internationalization of Small Business in a Microeconomic Perspective, International Small Business Series 4, Institute of Small Business, University of Goettingen. F. Brief description of the materials/methodologies needed by the proposal. (i.e. data collection methods, sampling, sample size and target group etc.) As for the data collection methods, there is a need to gather primary data in order to attain the basic information and get viewpoints, it includes; written and online questionnaires, telephone and online interviews and as for secondary data it will be used to get critical and more in-depth information on research that has already been done, it will mostly be used in the literature review. Here various books, journals, and articles will be used. Academic research will also be conducted and it will include scholarly articles by various universities, students or professors. Descriptive research to describe the characteristics of SMEs will be carried out. The research will seek answers to various questions, such as what are the problems faced by SMEs and what ways can be used to correct them. It is based on previous understanding of the problem. The research will be cross-sectional where by a representative subset is studied, at a defined time. The sampling frame will include the top and middle management of SMEs in Tanzania. The sample size will be about 100 people. The sampling methods used for this research would be probability and non-probability sampling because the research is vast. Under probability sampling; Stratified random method will be used thus selecting SMEs from certain demography in Dar-es-Salaam, Tanzania. The simple random sampling will also be used, hence choosing a choice of 100 SMEs from a choice of 500. The names of some of the SMEs include; Tanesco, Alexander Forbes Tanzania Limited, Showerlux Industries, Oryx, Gapco, Copper solution company, Raycom enterprises Ltd, Tanzania cigarette company Ltd, Zain Tanzania Ltd, Precision Air, Celtel Tanzania etc. Under non-probability sampling, snow-ball (referral by primary respondents) and self-selection (invite participation and collect data from those who respond) are methods that will be used. G. Brief description of the evaluation and analysis proposed for this project. (i.e. project deliverables and hypothesis, correlation test etc) This project will be of great use not only to Tanzanian but also to other African countries since it is aimed at finding ways to enhance the development of SMEs in relation to Globalization. Secondly, theories by other SMEs who have succeeded to go Global will be analyzed and will be proposed for application to benefit the SMEs in Tanzania. The expected results for this project include; Firstly; With strengthened SME departments or introduction of the Ministry of small medium enterprises, a lot of time and money will be devoted to the sector thus enhancing the chances of Tanzanian SMEs to become Global players. Secondly; With high brand consciousness, the products of SMEs will be able to stand out in the international markets. Thirdly; With participation in trade exhibitions such as Expolink, India property expo, East Africa International trade exhibition, SMEs can effectively market their products overseas. H. Illustration of how this project will benefit the future employability This thesis will help increase knowledge and understanding on SMEs. It will also help determine what problems are being faced by SMEs in Tanzania and what measurers can be taken to correct them. Lastly but most importantly, this project will help find a match between theory and practice and its application to the real world and will be a basic guide for all SMEs wanting to internationalize towards the economies.

Of Mice And Men Essay examples -- English Literature

Of Mice And Men The novel ‘Of Mice and Men’ reveal life in the 1930’s. A time very diverse to ours. Steinback, the author of this novel wrote about various issues such as lifestyle of the travelling ranchmen, loneliness, friendship, the American dream, racism and sexism. The book is about two migrant labourers, George Milton and Lennie Small in California. Together they have a dream to save up enough to own a farm where George is his own boss and Lennie can have animal to feed and pet. But the failure of their dream is followed by many ironic twists. In this essay, I will be discussing the main issues Steinback raised through the novel about that lifestyle that revolved around ranchmen in the early 1930’s. The main characters are George Milton and Lennie small. Lennie in the novel is the least dynamic and largely mentally challenged. He has a tendency of petting soft things even dead mice and loves puppies and rabbits. He is enormously strong but emotionally dependant on his companion George who keeps reassuring him about their future. George the other character is Lennie’s best friend. He dreams of owning his own ranch. He is very short tempered but a loving and caring person. The author shows that both the main characters live a very simple life and carry their load in a small bindle which indicates that they did not have much to own. Both the ranchmen are lonely and depend on each other for companionship. When Lennie says â€Å"But not us because...because I got you to look after me and you have got me to look after you and that's why† clearly showing the friendship, strong bond between them and the reliance on each other. Steinback shapes the ranch where George and Lennie worked in as an isolated p... ...imes, the women had very few careers and were often seen as housewives to bear children or sex objects. For example, Curley always had his one hand covered in Vaseline with a glove to keep it soft for his wife when he made love to her. In the novel, Curley’s wife’s name was not mentioned at all. She was known as ‘Curley’s wife’ throughout to emphasis that she was nothing but a possession of Curley. Curley’s wife herself did not think much of her life either because she was brought up around the same narrow minded people. This approach of men towards women was clearly partial. Overall I found the novel quiet depressing and sad. Steinback described the most critical issues of the 20th century in great depth. He’s narrative method was unremarkable but effective in a simple way and was well written by Steinback to show the tough period in American history.

Different Types of Digital Libraries Essay example -- Computer Technol

Digital libraries are libraries in which collections are stored in a digital format. A digital library has also been known as a virtual or electronic library. In this essay, different types of digital libraries will be compared. This essay will provide an in depth look at the many different digital library programs that have had a profound impact on the field of digital libraries. Archival formats will be explored. Techniques for the conversion of textbased formats into digital formats will be analyzed and compared. This essay will also uncover the pros and cons of a digital library compared to a traditional library. Suggestions for the future of digital libraries will also be considered. In 1945, Vannevar Bush had a vision. In his article, "As We May Think," he describes a technical fix for the information explosion that begun after World War II. Vannevar named this technical fix the Memex. The Memex was descibed as "a device in which an individual stores all his books, records and communications which is mechanized so that it may be consulted with exceeding speed and flexibility" (Bush, 1945). Vannevar was most certainly a visionary. His ideas were well before his time. His idea of the Memex can be considered the basis for digital libraries and maybe even the world wide web. In the 1980s, libraries card catalogs were being replaced by Online Public Access Catalogs (OPACs). These were usually closed systems that could contain little more than bibliographic data. Most OPACs were are done in Machine Readable Cataloging (MARC) format. It generally represents an individually published item or "information product," and describes the physical characteristics of the item itself (Brenner et al, 20... ... Materials. A Case for Full Information Capture. Digital Library Magazine. Digital Library Foundation (1995). America's Heritage: Mission and Goals for a Digital Library Federation. Retrieved April 25, 2007, from http://www.diglib.org/about/dlfcharter.htm American Memory, The Library of Congress. Mission and History. Retrieved April 24, 2007, from http://memory.loc.gov/ammem/about/index.html Morgan, E (2007). Alex Catalogue of Electronic Texts. Retrieved April 26, 2007, from http://www.infomotions.com/alex/ Alexandria Digital Library Project (2007). About ADL. Retrieved April 26, 2007, from http://www.alexandria.ucsb.edu/research/about/history.htm CSDL (2007). The Center for the Study of Digital Libraries. Texas A&M. Retrieved April 25, 2007, from http://www.csdl.tamu.edu/csdl/center/center.html

A Proposed Solution to Hiring More Employees

Meeting the list above will improve healthy lifestyles for employees to keep working at their full potential. 1. 0 Introduction 1. 1 Purpose The purpose of this report is to hire a reasonable amount of employees for direct care at Anoka Metro Regional Treatment Center. Hiring employees would cut down performance. 1. 2 Problem The staff mentioned the lack of staff to do the work. Employees were working more hours. They expressed their frustrations about not having holidays off. Not letting the staff know at head of time that they would be working forced overtime was frustrating to staff. Staff felt frustrated with continue mandatory overtime.Patients are staying longer for treatment. Security officers are constantly call on hospital units four to five times in eight hours to handle crisis. Management not listing to staff to hire employees was a lack of team work. 2. 0 Discussion 2. 1 Solution Hire more employees to take the load off the current employees. 2. 2 Benefits Hiring new empl oyees has many benefits. Here are a few of them: Employees could spend more time with family Employees would come to work happier The company would benefit by increasing productivity Benefit economy by giving more people work. It's cheaper than having current employees work overtime.Customers would have better service. 2. 3 costs Hiring new employees can be a costly process, but it will pay off in the long run. According to Joe Hadzima, a columnist for the Boston Business Journal and lecturer at MIT's Sloan School of Management, the salary and benefits totals is â€Å"1. 25 to 1. 4 times base salary range. † As shown by Figure 1 Wages and Salaries only equal about 70% of the cost to hire new employees. There are quite a few other expenses you must take into account. The True Cost of Hiring New Employees Figure 1 2. 4 Hiring Process The company could do mix of the following to find applicants: An ad in the paperAn internet ad Job fair if enough openings are available Recruiter at a college or university one after each other. It should take a week to get the ads out and another week for applicants to respond to the ads. After the interview it should take about 2 weeks to process the applicants. In about a month new employees should be working in the company. These positions could either be full time or part time whichever is necessary. 2. 5 Training Training is one of the most expensive things about hiring new employees but it's important for employees to get the proper training.It takes on average 5 months for new employees to become good at their work. According to the Studer Group, â€Å"A survey of 610 CEOs by Harvard Business School estimates that typical mid-level managers require 6. 2 months to reach their break-even point. † There are many benefits to training employees. Here are few of them: They won't damage expensive company property. Employees will be more productive and efficient at their work. Customers will be happier when they deal with well-trained employees. Other companies are more willing to work with your company if your employees know what they are doing.Average Hours Employees are Trained In A Year This chart shows how employers are training employees more in the last few years. Figure 2 3. 0 Conclusion 3. 1 Solution Hiring new employees is the best solution for companies who are constantly busy and employees are working a ton of hours. Here are some of the many benefits: Current employees could spend more time with family Employees would come to work happier, because theyll have more time to rest and relax. The company would benefit by increasing productivity. Hiring new people is also good for the local economy by giving more people work.It's heaper to hire new employees than have current employees work overtime. Customer would also be happier with more employees so that they would have better service. 3. 2 Time Frame It should take about a month to hire new employees. It will take about 5 months for the employees to be trained in unless they have previous experience. So new employees should be hired and fully trained in in 6 months.