Partnership and Limited Liability Partnership Organization Essay Example for Free

Partnership and Limited Liability Partnership Organization Essay Introduction This is a report that shows a comparison between both Partnership and Limited Liability Partnership organization and to advise Mr. Tan on the business organization that is more likely to fit his needs for setting up a new consulting business. For this particular project, our group assumed that Mr. Tan used to be an accountant working for a big accounting firm and is now looking to set up a small accounting consultancy business. 1Process Required to Setup Business Organization Below are the processes to setting up a partnership and a limited liability partnership business organization respectively: 1.1Partnership Firstly, the partners have to fill with the Registrar an application for approval and reservation of partnership name. After the application is being approved, a partnership is required to be registered online via BizFile with ACRA through a professional business registration firm if both of the partners are not local citizen. The partnership must have at least two partners for registration. Following are the information needed: 1) Proposed name of the Partnership 2) Particulars of the partners/managers (foreign passport or Singapore ID) 3) Residential address of the partners/managers 4) Consent to Act as Manager and Statement of Non Disqualification to Act as Manager 5) If partner is a company: Registration details of the company 6) Singaporean or PR must pay Medisave 7) Declaration of compliance ACRA will then send an email of notification confirming the registration. A  business profile containing the registration details can be obtained as a softcopy via email from ACRA upon successful registration. Softcopies are usually sufficient to all purposes in Singapore. (enterAsia Information Services Pte Ltd, 2010) 1.2Limited Liability Partnership Firstly, the partners have to fill with the Registrar an application for approval and reservation of LLP name. After the application is being approved, an LLP is required to be registered online via BizFile with ACRA through a professional business registration. Following are the information needed: 1) Proposed name of the Limited Liability Partnership 2) Particulars of the LLP partners/managers (foreign passport or Singapore ID) 3) Residential address of the LLP partners/managers 4) Consent to Act as Manager and Statement of Non Disqualification to Act as Manager 5) If partner is a company: Registration details of the company 6) Declaration of compliance ACRA will then send an email of notification confirming the Singapore LLP registration. A business profile containing the registration details can be obtained as a softcopy via email from ACRA upon successful registration of the LLP. Softcopies are usually sufficient to all purposes in Singapore. (enterAsia Information Services Pte Ltd, 2010) 2Legal Characteristics of Each of the Business Organizations 2.1The Characteristics of Partnership (ASSAR, 2011) Two or more persons: Partnership involves business by a group of persons. There must be at least two persons to bring partnership into existence. Although there is no maximum number required in the Partnership Act, the Companies Act has placed a maximum limit 20 people in a business. A company must be registered if there are more than 20 people in the business. Contractual Relation: A partnership is a contractual relationship arising out of an agreement among the partners, a person does not become a partner out of his status as is the case in joint family. Persons entering in partnership must be competent to enter into a contract as it is essential, and the agreement among partners may be oral or in writing. A written agreement or deed is preferred because it helps in resolving some disputes among partners later on. Lawful Business: A partnership agreement only exists in a lawful business. Sharing of profits: An agreement among partners must include the sharing of profits and losses. A charitable trust cannot be called partnership because there is no sharing of profits. Profit sharing is only a superficial evidence of partnership but not a conclusive proof. The employees of a business may also share profits but they are not the partners. No Separate Legal Existence: A partnership firm is not a legal entity of its own. This means that the firm and the partners are one and the same. A firm is only a name to the collective name of partners and no firm can exist without partners. The rights and liabilities of the partners are the rights and liabilities of the firm. Management of the firm vests in partners who are its owners also. Unlimited Liability: Every individual partner is liable jointly and severally for the obligations of the partnership firm. Therefore, if assets of the business are not sufficient to meet the liabilities of creditors then private property of partners can be used to meet them. The creditors can claim their dues from anyone or all the partners. If these liabilities are met by one partner then he is entitled to receive rateable contributions from other partners. Restriction on Transfer of Shares: No partner can transfer his shares to an outsider without the unanimous consent of all other partners. It is based on the principle that a partner being an agent of the firm cannot delegate his authority unilaterally to outsiders. Utmost Good Faith: The very basis of partnership business is good faith and mutual trust. Each and every partner should act honestly and fairly in the conduct of business. A firm cannot be run if there is suspicion among partners. Partners must have faith in each other for running the business smoothly. 2.2The Characteristics of Limited Liability Partnership (LLP) A limited liability partnership is a business structures that operates similar to a partnership organizational structure. The difference is the limited personal liability afforded to each member of the company. Each partner is responsible for their own actions while conducting business. LLPs are tailored for professionals, such as doctors, lawyers and accountants. (Howell, 2012) Every Partner Equal: Each partner is an equal member in a LLP company. They decide together on various company issues, such as the name of the business, where it is located and how it is going to be operated. Partners also share equally in the profits and losses of the business. The number of people in LLP must not exceed 20. Limited Liability Protection: Each partner in this type of company is protected against the actions of the other partners which results in a lawsuit. For example, if one partner is subject of a malpractice claim and loses in court and have to pay damages, the other partners are not held financially responsible. However, partners in a LLP are liable for the obligations of the company such as loans used to purchase equipment and utility expenses. Pass Through Taxation of Profits: A limited liability partnership company is taxed similar to a business formed under the partnership and sole proprietorship organizational structures by a process called pass-through taxation. The company profits are not taxed at the company level but instead  are passed through to the partners to be reported on their individual tax returns. This prevents the double taxation that occurs in corporations where profits are taxed at the company and shareholder levels. 3Advantages and Disadvantages of Partnership and LLP 3.1Partnership Advantages of Partnership 1. Capital: Due to the nature of the business, the partners would contribute their share of capital to start up the business. Hence, the more partners there are, the higher the amount they could put into the business. This would give the partners better flexibility and greater potential for growth. It also means more potential profit, which would be equally shared between the partners. 2. Flexibility: It is generally easier to form, manage and run a Partnership. There are fewer restrictions in a partnership than in companies, in terms of the laws governing the formation. As the partners have the only say in the way the business is run without the interference of shareholders, they are far more flexible in terms of management, as long as all the partners can agree. 3. Shared Responsibility: Partners would be able to share the responsibility of the running of the business. This would allow the partners to make the most of their abilities and potential. Instead of dividing the management and taking equal shares of each business tasks, they would be able to divide the work according to their skills. Thus, if one partner is good with figures, they could deal with the book keeping and accounts, while the other partners might have different niche areas and specialize in different tasks. 4. Decision Making: Partners share the decision making and can help each other out when needed. With more partners means more brainstorming could be in place and the information they came out with could be picked out for  business ideas and for the solving of problems that the business may encounter. (Adrain, 2010) Disadvantages of Partnership 1. Disagreements: One of the most common disadvantages of partnership is the possibility of disagreements between the partners. People often have mixed ideas on how the business should be run, the task arrangements and are picky about what the best interests of the business are. All these might lead to arguments which might not only endanger the business, but also the relationship of those involved. That is why it is always preferred to draft a deed of partnership during the formation period to ensure that all partners are aware of what are in place in case of disputes and prepare for the procedures if a partnership is dissolved. 2. Agreement: As the partnership is jointly run, it is crucial that all the partners agree with decisions that are being made. This means that in some situations there is less freedom with regards to the management of the business. This is especially so compared to sole traders, where the sole trader need not seek agreement from anyone but himself. 3. Liability: Ordinary Partnerships are subject to unlimited liability, which means that each of the partners shares the liability and financial risks of the business equally. This might put of the idea of partnership for some people, as they might not want to take the risk. 4. Profit sharing: As partners share the profits equally, it can lead to inconsistency where one or more partners are not contributing a fair share of effort into the running or management of the business, but still reaping equal rewards. 3.2Limited Liability Partnership Advantages of Limited Liability Partnership (Janus Corporate Solutions, 2008) 1. Separate Legal Identity: A limited liability partnership has a separate legal identity. They can own properties, at the same time they can  enter into contracts, and sue or be sued in its’ own name. 2. Limited personal liability: The partners of the limited liability partnership will not be held personally liable for any business debts incurred by the limited liability partnership or the wrongful acts of their partners. A partner may, however, be held personally liable for claims from losses resulting from his own misconducts or omission. 3. Perpetual succession: Any changes in the limited liability partnership (e.g. resignation or death of its partners) do not affect its existence, rights or liabilities. 4. Ease of compliance: Compliance requirements are more complex than sole proprietorship but simpler than a private limited company. Disadvantages of Limited Liability Partnership (Janus Corporate Solutions, 2008) 1. Formation of limited liability partnership requires a minimum number of 2 partners at all times. 2. Individual partners can commit the partnership to formal business agreements without the consent of their partners. 3. Limited liability partnership lacks the ease of ownership transfer and investment that a company structure provides. 4. There are no corporate tax benefits: Tax exemptions are available to private limited companies but are not available to limited liability partnerships. A limited liability partnership is treated as tax transparent which means that limited liability partnerships are not taxed as an entity. Instead each partner is taxed on their share of the profits as per the personal income tax rates. 4Analysis on Choosing the Business Organization Since Mr. Tan is setting up a business for accountancy consulting, he should  opt for a Limited Liability Partnership organization instead of a Partnership. Mr. Tan is currently new to the business world, and might not have found a partner he could fully trust yet; therefore it is also to his advantage if his partner were to act wrongfully or if there is a change in partners, since in LLPs, partners are not liable for losses to outsiders arising from acts of another partner as compared to an unlimited liability if he were to go into a Partnership. In addition, the LLP is also not subject to full financial reporting and disclosure requirements, such as those on capital contributions and changes to capital (ACRA, 2005). This is an advantage to Mr. Tan’s business. Since the business is small, minor changes to capital will not have to be subjected to full reporting and disclosure. Furthermore, as mentioned earlier, LLPs are tailored for accountants. With that, our group is certain that Limited Liability Partnership Organization will meet the needs of Mr. Tan’s new consultancy business. Bibliography ACRA. (2005, May). Retrieved February 5, 2012, from ACRA Legal Digest Issue 8: http://www.acra.gov.sg/NR/rdonlyres/4B52C6B6-E89B-4DC3-A72C-A9C4BC62AAAB/10278/ACRA_LDI_08.pdf Adrain. (2010). The company warehouse. Retrieved 2012, from The company warehouse: http://blog.thecompanywarehouse.co.uk/2010/03/01/advantages-and-disadvantages-of-partnership/ ASSAR, R. (2011). Publish Your Articles. Retrieved February 2012, 6, from PublishYourArticles.org: http://www.publishyourarticles.org/knowledge-hub/business-studies/what-are-th e-characteristics-of-partnership.html enterAsia Information Services Pte Ltd. (2010). entersingaporebusiness. Retrieved Feb 05, 2012, from LTD Singapore: Setting up a limited liability partnership (LLP) in Singapore: http://www.entersingaporebusiness.info/limited-liability-partnership.php enterAsia Information Services Pte Ltd. (2010). How to set up a partnership in Singapore. Retrieved Feb 05, 2012, from entersingaporebusiness: http://www.entersingaporebusiness.info/partnership.php Howell, R. (2012). Hearst Communications Inc. Retrieved February 6, 2012, from Hearst Communications Inc.: http://smallbusiness.chron.com/characteristics-limited-liability-partnership-3729.html Janus Corporate Solutions. (2008). Singapore Limited Liability (LLP) Registration. Retrieved February 4, 2012, from guidemesingapore: http://www.guidemesingapore.com/incorporation/other/singapore-llp-registration-guide

Performance Measurement System Of Tm Berhad

Performance Measurement System Of Tm Berhad Performance measurement system is defined as a set of measurable criteria and methodology to enable performance to be measured objectively. It comprises of financial and non-financial manners to establish and monitor the progress of organization towards its vision. In the past, organization used the financial measures to assess the performance of senior managements while non-financial measures were used to evaluate the performance of lower level of management. It is inappropriate to use the financial measure to examine the outcomes and not well-suited for predicting future prospect as the outcomes are the consequences of past performance. Thus, performance measurement systems were developed to merge the financial and non-financial measures at all level of the organization in order to improve the efficiency and effectiveness of the management. The best known performance measurement framework is balanced scorecard introduced by Kaplan and Norton in early 1990s. The balanced scorecard approach retained measures of financial performance on past performance and supplemented them with the assessment on the strategic planning in order to drive the organization towards its vision. It maps an organizations strategic objectives into performance metrics in four perspectives: financial, internal processes, customers, and learning and growth. The term balanced signifies that the system is balanced between internal measures of business processes, innovation and learning and growth and external performance perspectives measures for customers and shareholders. It is then followed by the term scorecard which signifies quantified performance measures. In a nutshell, balanced scorecard contains four main processes. The process of balanced scorecard is begin with clarify and translate the organizations vision into strategy. Then, the strategic management will communicate and link strategic objectives and measures. Next process is planning, setting targets and aligning strategic initiatives. Lastly, balanced scorecard enhances strategic feedback and learning. Organization quantifies its current performance to identify where it is on its strategic capability building journey and predict possible changing business environment in future. This information provides relevant feedback as to how well the strategic plan is executing so that adjustments can be made as necessary. This article is primarily discussed on the growing importance of balanced scorecard performance systems and exploring the issues faced by the organization in building and implementing balance scorecard systems. b. Challenges in Performance Measurement System The used of balanced scorecard is very helpful in monitoring the management of the organization but it is very challenging as the implementation is very costly. It requires some cost in setting up this system such as software licenses expense and installation cost. This will results in large sum of money being expense before profit is generated. Besides, the needs of expertise to implement a comprehensive and proper system will consequently increases the cost of management as well. Different business unit using the different balanced scorecard measures to achieve its goal. In general, balanced scorecard consists of two types of measure. There are common measure (measures across all subsidiaries or units) and unique measure (measure each business unit). The use of unique measures in order to carry out the system is tough because unique measures are significant in capturing the units business strategy. If the manager does not actively participating in evaluating one units performance, thus significance of the unique measures may not be appreciated. The four perspectives in a well-designed balanced scorecard form a chain of cause-and-effect relationships that determine the effectiveness of the strategy implementation. Proper implementation will results in excellent performance. However, it is not easy to identify and establish the cause and effect relationship. Inappropriate measure will result in negative outcomes. Managers realize and understand that there are strong linkages between customer satisfactions, employees satisfactions, financial performance, internal business process and companys learning and growth activities. Nevertheless, the balanced scorecard system does not provide the detail guidelines on to how to improve performance to achieve organizations goals. In addition, balanced scorecard system need to be updated constantly. This update is useful as it requires repositioning with changing of strategies or company structure in order to keep in pace with the complex business environment. However, constant updating of balance scorecard may be tedious and time consuming. Lastly, lack of integration and communication of the objectives of the organization at difference level of management would cause the lower level of employees cant see the big picture of the system. Implementation of the balanced scorecard requires commitment from all management levels, especially companys top organizational structure. Most of them refuse to coordinate in the system because they may view the system as a threat that implies they have underperformed in the past. c. Advantages of Performance Measurement System First of all, balance scorecard is very reliable as it clearly defines financial and nonfinancial information to all parts of the organization. The traditional financial statements has failed to confine accurately the type of measurements those companies need around a profit sector. This is proven when all the intangible assets such as quality of services and skilful employees do not show on balance sheet compared with the balance scorecard that shows all those intangible assets in the balance sheet. The value of a company will be invisible to the workers, shareholders, customers and the society due to the unwritten intangible assets in the balance sheet. Secondly, balanced scorecard is useful in evaluating and planning for long-term strategy. In a traditional method, organizations only focus on short-term financial measures while balanced scorecard include customer, internal processes and the growth in societys needs. It is useful in a longer term strategic dimension as managers can measure performance in building key capabilities and examining on the overall strategic workability. Thirdly, balance scorecard enhances strategic feedback and learning. In this process of monitoring the system, the management evaluates the present performance of the company, how the strategies are going on in the company and identify the potential changes in the unpredictable surroundings. This information is useful for the purpose of decision making to ensure the organization is achieving towards its goal. Fourthly, balanced scorecard could be used as a measure of employees reward performance. When the individual exceeds the particular threshold levels, they will be rewarded for the excellent financial performance. It is proven that balanced scorecard makes some improvements if compared with the past performance measurements systems that did not often measure the employees performance which link to corporate strategy. Lastly, the balanced scorecard attempts to evaluate both the internal and external aspects of the organization. It is important to focus on the customers views and the contacts that have been established in the market-place on order to build long-term relationship with the potential customers. The learning and growth perspective encourage creativity and advance in information system in order to response quickly to the rapid changing in the global market. d. Central issue of the articles The first issue is the implementation of balanced scorecard in an organization. Each company should have its own version of the scorecard as different companies require different measurements, which are essential in achieving the company strategy. The most commonly used measurement categories are financial goals, customer satisfaction, employee satisfaction, productivity, and growth and innovation. A well-defined balanced scorecard should result in improved internal management system, greater customers satisfaction, educated employees and increased in financial usage. Identification, definition and integration of organizations capabilities with its objectives in all levels of the organization from top to down are essential to sustain long-term superior return in the competitive environment. Interaction within the organization is important to avoid optimizing the results of one business unit at the expense of others. In this stage of planning, setting targets and aligning strategic in itiatives, management will set ambitious but achievable targets for each perspective and initiatives are developed to align efforts to reach the targets. Lastly, the executives receive feedback on whether the strategy implementation is proceeding according to plan and evaluate whether the strategy itself is successful or control and corrective action is necessary to reflect real time learning. These four functions have made the Balanced Scorecard an effective management system for the implementation of short-term and long-term strategic planning. Besides, the four perspectives in the balanced scorecard are inter-dependent. It is not just a balance of measures in essential areas of the business, but also a balance of goals versus accountability. The reluctant of the people in the organization to accept accountability for achievement of the balanced measures and goals of the balanced scorecard will result in failure in balanced scorecard system. In the case study of Big W, has not only built competencies into each step of its performance management system but has now incorporated competencies in all position descriptions for store managers and buyers to extend their experience in areas other than that in which they are presently employed. Therefore, the human capital of the organization is the key to the success of the balanced scorecard system. The second issue is balanced scorecard will evolve as the culture change. Once the balanced scorecard is developed, it should immediately implement into the organizational system. It assists to link groups and individuals to the strategy by understanding the linkage of cause-and-effect relationship. This linkage enables them to understand the overall performance of the organization. For example, advanced in information system will leads to efficiency in information management and eventually save the cost of handling bulky information. Thus, the organizational culture is a one of the key factors of success or failure of implementation of balanced scorecard. Besides, organizational culture has also interceded entity learning. Entity learning is a driving force behind the successful implementation of balanced scorecard. The article mentions that there must be an understanding, commitment and support from the top levels of the company down to the lowest ranks. If there is any change in culture in any level of the organization, balanced scorecard performance will be affected. Therefore, new approach, new tings and new goals have to be developed and be adopted to make the balanced scorecard more balanced and effective. Management need to be alert with the changes in organization culture so that balanced scorecard system is designed in accordance with the culture. The next issue is customers play a significant role in determining the prospect of an organization. The customer perspectives in the balanced scorecard measure on how should the organization present itself to its customers in order to achieve its vision. The four perspectives that introduced by the balanced scorecard are useful to evaluate the overall performance of the business. In conjunction with this, customers are able to see the time dimension of the business that going from the bottom to top and the profitability of the past, present and future. Moreover, balanced scorecard includes the measurement of customers perspective aim to increase customer satisfaction to ensure the ultimate wants of customers are fulfilled. Thus, the objective of the organization must be always being designed according to the current market demand. Conclusion As we embark on the twenty-first century, managers are challenged by sweeping changes in the global arena. The implementation of balanced scorecard is essential to assists in the execution of corporate strategy in order to sustain in the competitive environment. Balanced scorecard encourages employees to act in accordance with desired goals of the company by reward them accordingly to their performance. Management has to be aware of the potential limitations of balanced scorecard and overcome the problems by designing the system that well-suited the organization. In a nutshell, balanced scorecard should be tailored for each part of the organization driven by the objective of the organization to make the balanced scorecard even more balanced and effective in supporting a living, growing, feasible organization in the competitive environment. 2. a. Introduction Telekom Malaysia is the largest integrated communications solutions provider in Malaysia and one of Asias leading Communications companies. Telekom Malaysia has officially changed its global brand from Telekom Malaysia to TM in 2005. The vision is to become Malaysias leading new generation communications by providing customers with innovative and excellent service environment. TM has a monopoly on the fixed line network, data, mobile, internet and multimedia. It combines satellite, terrestrial and submarine fibred-optic cable systems to facilitate the regional and international telecommunications. TMs core businesses are focused in Retail, Wholesale and Global Business. Besides, TM acquired Celcom and TMTouch to raise industry standards, provided product and service benchmarks in the country. Apart from that, TM Net is now the sole DSL broadband provider in the country. It offers a comprehensive range of services and solutions in broadband, data and fixed line. In addition, TMs investment philosophy is to play an active role in its international operations as well as to provide opportunities for wealth creation among the local population for social welfares purposes. b. Discussion of the Performance Measurement System used in the company. TM is using BSC to translate their visions and companys strategies into a set of measureable objectives that can be interpreted into some meaningful form as a check list to monitor the performance of the company. Basically, the BSC used by TM is an e-BSC where it uses an online system called MAPS (appendix) to allow employees to key in their performance according to different areas concerned in the scorecard and monitor by each division managers. The main concern of financial perspective will be to grow revenue profitably and to manage cost effectively, customer perspective is to delight the customers while creating the synergy with partners, internal business process is on execution of projects and plans on whether they are done effectively and the organizational learning and growth is to boost human capital execution capacity. The implementation of BSC in TM consists of three stages, which are business planning, performance cycle and then finally lead to a performance-based rewards system. In business planning, BSC and individual Key Performance Indicator (KPI) are developed in this stage where the KPI is used to measure the key performance in a specific division of the company. BSC is developed through a process of six steps which include: Firstly is to understand and develop the business strategic direction of TM and for example the vision of TM is to be Malaysias leading new generation communications provider, embracing customer needs through innovation and execution excellence and the mission is to strive towards customer service excellence, enrich consumer lifestyle and experience, deliver value to stakeholders and improve the performance of our business customers. From these two statements it is clear that TM is stressing highly on customers satisfaction and so its direction is clearly stated in its vision and mission statement (TM Annual Report, 2008). Next is to decompose those TMs visions and missions into smaller components called objectives that can drive the performance and measurable. With those components, TM Group top management now will be able to create a strategy map using cause-effect linkages for example, how an objective is dependent on another objective. A strategy map (appendix) is important in BSC as it is the fundamental part of it to achieve towards the objectives of the company and drive it towards the vision. In step 5 is to develop KPI (appendix) to measure and target to track strategic and operational progress of the company to see if it has achieved the desired outcomes of the objectives. Lastly is to identify the key strategic initiatives as a way to ensure the achievement of strategic objectives for example funding of resource and implementation mechanisms. In MAPS System, an individual employee will log into the system and key in their personal information and then the division scorecard will be displayed. This is the part where employees are required to submit their performance into the online system MAPS for the company to track their performance into a KPI template (appendix) provided in the system. Then, employees are required to choose the areas that are relevant to his/her field for each perspective. In the individual scorecard, the employee has to key in the target that is challenging but achievable. In performance cycle phase, he/she will then be required to key in the actual result and comment on the target. This performance scorecard will then linked to the reward system to reward the employees accordingly. c. Issues, Challenges and Advantages of BSC Issues The e-BSC used by TM is emphasizing a lot on the performance of its employees driving towards the vision and missions of the company which are mainly customers satisfaction and growth of the business. The biggest issue of BSC in TM is that it emphasizes too much on the internal business and performance rather than the quality of services provided to the customers. Each of the perspective emphasized by the BSC is not really focusing on the quality services. This is very important particularly for a service company like TM who provides telecommunication services to the public. For example does BSC implement by TM actually concern on the quality of its networks for the broadband services of TM Net, a division of TM? Measuring the quality of the services of TMs products is significantly important to be able to achieve the objectives of the company. Challenges A challenge faced by the BSC is where it could not answer some of the important question that a telecommunication company needs to know. For example, a manager can developed a set of measures for the scorecard, but it can never answer the question of what the competitors are doing out there (Andy Neely, 1995). This means that BSC has missed out one of the most important perspective which is the competitor perspective. In Malaysia, telecommunication industry is very competitive and TM is no longer the monopoly in the industry since the presence of other telecommunication companies such as Maxis and Digi. Thus, TM might risk itself if depend solely on the scorecard of not knowing what is happening with other competitors and might lose their market shares to them due to this reason. Advantages The BSC of TM has successfully provide a complete measurement on the four perspective which comprises of financial, customers, internal business control and organization and learning growth. Through the implementation using MAPS system, BSC in TM is done over the online system and electronically (e-BSC). The MAPS system provides a good way for the employees to set their own target, track their performance and finally evaluate their performance and give comments on whether is it hard to achieve the target. This is an advantage to TM as the managers from each division will be able to get direct feedback from the employees on their performance and able to report them to the top management to evaluate further on what can be done to improve and identify problems. This also enables long-term organizational learning at the same time to achieve continuous improvement on performance of the company. d. Recommendation Since the issue faced by TM is the quality of service, Total Quality Management (TQM) is able complement the shortcoming of BSC. A quality service is vital for a telecommunication company especially in such a competitive market in Malaysia. TQM is a type of performance system that is used as a long-term measure to reduce errors in a service or manufacturing process and focusing on customers satisfaction by ensuring workers have the highest level of training and modernization of equipment and limit errors to 1 per 1 million units produced. ISO 9000, the international standard defined that TQM as a management approach of an organization that centered on quality with participation of all members aiming at long term success through customers satisfaction and benefits to the members of the organization and society (Subburaj, 2005). TQM definitely benefits TM in many ways. It can apply this to the engineering of its telecommunication networks such as its fixed line division, cellular services division as well as the broadband division to improve the quality of services. Say for example, an uninterrupted broadband service for the customers that only allows 0.0001% of down time, same applies to the cellular networks and fixed line services. This definitely provides benefits and robust solutions to the company to enhance customers satisfactions on quality services. To achieve the TQM, TM must always from time to time send its engineers and other employees for training and make sure that they are experts in their field. Also, TM must spend more resources on its RD division, known as TMRND, to provide the latest equipment for the engineers to ensure that they have the best equipment to maintain the network to provide uninterrupted services. This is a long-term implementation for TM and it requires continuous improvement over time not only by the top management but also all the members of the organization working together. Also, TM will be benefited in the long run and enhanced its branding through attaining the TQM certification of ISO 9000. Conclusion In order for TM to remain dynamic in the globalization market, should always review its performance measurement system and constantly seek for improvement to better achieve its objectives and remain competitive. Performing well financially, increase in customers satisfaction, constantly improving the internal business process and improve in organizational learning and growth are equally important and TM has been doing well with its e-BSC and MAPS system. TM is also an innovative player in introducing new products and services such as the latest on the news, Unifi, a fiber optic solution for home and business which provide 5 to 20 Mbps of internet speed to the consumers and Internet Protocol Television (IPTV) (TheStar Online, 2010). However, innovative products and services are nothing if the service quality is not good enough. Now is the time for TM to embark on a new challenge in providing quality service through the implementation of TQM in its organization to achieve long-term success and customers satisfaction.

The Strengths And Limitations Of Personalisation Social Work Essay

The Strengths And Limitations Of Personalisation Social Work Essay With the continuously growing number of older population in the country and the life expectancy that keeps on increasing, the demand for the elderly care is also equally on the increase. Consequently the government are also putting in effort in order to continue improving the service provided for the elderly care such as the introduction of personalisation into the care service in the government policy in December 2007, when the Putting People First concordat was published. This is the reason why this assignment will be looking into this concept of personalisation in further depth along by looking at the strengths and limitations of implementing it into the social care. CONTENT The term personalisation as picked up by the Department of Health and is being used as a term to describe the series of reforms drawn out in the 2007 concordat Putting People First. In its formulations the policies have been set within the following framework of improving access to universal services, the prevention and early intervention, the increase of choice and control by the users and also growing social capital for the care (Department of Health, 2009). In addition to this, personalisation is about giving people more choice and control over their lives in all social care settings. It also means to recognise the user as a person with strengths and preferences and it starts with the user instead of the service (Social Care Institute for Excellence, 2012). The reasons why personalisation is introduced in social care is because the government is against the one size fits all concept in terms of providing care as it has been found to have not met most of the needs of the user especially with the fact that all users are different. The second reason is to finish up the The 1988 Griffiths Report on Community Care in which it advises that social services should become brokers to a range of care and support providers. It also proposed that social workers should take on a care management role.Thirdly is to combat the McDonaldisation in social care. This McDonaldisation thesis consists of five primary components of efficiency (minimising time in delivering care), calculability (trying to get user to believe that they are getting quality care for lesser money spent), predictability (where the care provided are highly routine and predictable), control (standardised and uniform care provider) and also, culture (as part of the standardised control) . Finally, personalisation is implemented due to the convergence of disability movement and also the increasing neo-liberal marketisation. The disability movement as a part of service user movement and the social model of disability have been a really powerful driving forces in lobbying for government reforms. An evidence for this is the Community Care (Direct Payments) Act, 1996 where the direct payments have been made available to the disabled adults of working age in England and have since been extended to other groups (Carr, 2010). The popularity and success has stimulated much of the personalisation around service users and also the development of personal budgets (Glasby and Littlechild, 2009). In November 2010, A vision for adult social care: capable communities and active citizens document was published, with personal budgets and personalisation, put central along with prevention, health and social care integration and the development of a plural and creative social care market to enable choice forming central aspects of the continuing social care reform. In this document too, it was made clear that personal budget alone does not in itself mean that services are automatically personalised. People should get personal choice and control over their services rather than the inflexible block contracts from supported housing to personal care (Department of Health 2010). Glasby (2012) explained that the concept of personal budgets is rather than assessing the users needs and selecting services from fairly limited menu of options, personal budgets start by placing each individual into a cost band and being up front about the resources available. By knowing how much of money is a vailable for them to spend on their needs then allows them and their circle of support to make decisions about how the money could best be spent (by direct services, direct payments, public services, the independent sector, paying family and friend or any of the combination). Some of the strengths of using personalisation concept are the users outcomes can be improved and at the same time, costs can be reduced as people who control their own budgets are able to find smarter solutions for meeting their needs and can reduce their need for paid support. This is possible because the person is empowered to make the better, right kind of decisions, seize new opportunities and respond more quickly to their own problems. In the old welfare system the government pushes resources into those services that it believes people need. Users can only receive little benefit from these resources because it is unlikely that the services are perfectly tailored to meet their needs and there is no opportunity for the user to mobilise those resources to pull in in other resources. However, when someone has a Personal Budget they are able to make quality, efficient use of those resources. Such as rather than paying  £10,000 per year at the day centre and the user will simply ha ve to put up with whatever services offered there that they do not value. Instead, if the user is given a  £10,000 Personal Budget they then can actually spend some of their budget on those particular services they value, e.g. only coming into the centre on the good days. This process explains why people can get better lives with less money as the money that can be controlled works better with the new found freedom than the money that cannot be controlled (Duffy, 2010). Other than offering better quality choices and empowering the service user, personalisation also is shown to be consistently cost effective of the public finance as found by Glasby and Littlechild (2002) that direct payments support are on average 30-40 per cent cheaper than the equivalent directly provided services. In addition to this, it was discovered that carers feel the relationship between them and the service user has improved due to them or their relatives being able to access the direct payments (Rethink Mental Illness, 2011). Finlayson (2002) also suggested that this positive relationship between the carer and service user is central to carers job motivation and satisfaction as in turn it will increase the quality of care provided. Another advantage of this concept as suggested by Zarb and Nadash (1994) is that the flexibility of the service is enhanced. The service provided is fitted around the users time on top of their different needs rather than fitted around the carer s timetable. Although according to the findings discussed earlier that expressed the positive outcomes of personalisation, there are few limitations associated into practicing it. The first one is that it is inappropriate to some users especially those who are mentally incapable and the elderly. It is found to be a daunting experience as they are suppose to manage their own financial arrangements directly which will also add extra burden and unwanted stress for them. On top of this, most of service users are also anxious by becoming employers and having to deal with responsibility particularly when they are unwell. This is especially with regard to assistance with the direct payments managing of the service user, either by family member, friend or support agency on the users behalf. In addition to this issue, the potential problem that could possibly happen regarding the vulnerable user is being exploited and potential for their money to be fraud (Leece and Bornat, 2006). On the other hand, as su ggested by Glasby and Littlechild (2009) the local authorities have a key role in making their systems as simple as possible and also proportionate to the risk, along with the availability of independent support (such as peer support and support agency) and the advent of self-directed support to reduce potential hassle from this concept should any problem arise. Another limitation of this concept is the community care assessments that are carried out sometimes underestimated the needs of user, especially those with mental illness as their needs are subjective (for instance, not so obvious on a good day) and therefore failed to be met. To make matter worse, these assessments are often not person-centred as it lacks of users involvement in decision making thus, they tend to be passive recipients and disempowered. This highlights the need of a better person-centred assessment by the professionals involved as the central element in the direct payments is good assessment. Hence, a better, different kind of relationship needs to be developed between the professional and the users as well as other approach to allocate the community care resources for this particular service user (Leece and Bornat, 2006). Another problem is direct payments and personal budgets are identified as a threat to the professional expertise of the social workers, as well as the longer hours due to the flexibility needed. It was also suggested that at one critical point, services will not be able to be managed properly as more users are becoming employers thus, changing the balance of the services'(Leece and Bornat, 2006). In contrast, direct payments and personal budgets are able to free social workers up to focus on people who are in greater need of support and thus, reconnect their value base and principles of profession (Glasby and Littlechild, 2009). Furthermore, the monopoly of market with the increasing choice through the direct payments is seen to be a problem. This will someway force the existing providers to make more effort to be more appealing to the service users in order to avoid of going bust. Additionally the real goals of these providers are often doubted as whether they will put quality care over profit-making (Leece and Bornat, 2006). The argument against this is that with the presence of competition, the providers will struggle to increase their quality of care along with a better value in order to keep up with the other providers. The strengths of the concept of personalisation as per discussed have found to be outweighed by the limitations that are associated to it. This is also proved to be the case as nearly all users is found to be satisfied with their experiences of using the direct payment as they found it to be more convenient and secure in the research carried out for the Department for Work and Pensions (2004). Out of the total participants, 75% reported to have found no disadvantages when using the direct payment. CONCLUSION The concept of personalisation has had a long history on why the government want to put it into practice as a way of reforming the social care particularly in the last few years when the direct payments and personal budgets were introduced. This was proved to be a huge success with majority of the users are extremely satisfied with how it has changed their lives in terms of empowering and giving them better quality of choices. Moreover, it was also found to be cost-effective and thus, able to save large amount of the public fund. However, as this concept was also subjected to few arguments against it, such as it not being able to cater certain types of user, there is also backup plan, support and effort made by the local authorities to minimise this. Moreover, the arguments that it threatens the social workers profession and the market balance are found to be ungrounded. Thus, the benefit of implementing personalisation in social care was found to overshadow the limitations as discus sed earlier.

Workaholics and Workaholism: A Growing Problem for Companies :: ESL Essays

Workaholics and Workaholism: A Growing Problem for Companies   Ã‚  Ã‚  Ã‚   Workaholics – people, who have a compulsive and unrelenting need to work (www.dictionary.com) – appear more and more among the working people of United States and other developed countries. At first glance, workaholics do not seem to be such a problem for industry and society as a whole. But in spite of all devotion to their work the workaholic will not be as valuable as a normal worker. Workaholics do not think about anything else except work that can cause severe health problems and can cause problems on their work. All that causes a reduction of economic profit for the company.   Ã‚  Ã‚  Ã‚  Ã‚   The term â€Å"workaholism† appeared in the beginning of the 20th century after Frederick Taylor integrated new organization of work system. Taylor, famous businessman was born in 1856 in Philadelphia, and was known as â€Å"father of scientific management†. His new theory of work management has been known as â€Å"Taylorism†. The term â€Å"Taylorism† is seldom used in a positive way. For a short description, according to JoAnn Greco, the journalist of â€Å"The Journal of Business Strategy†, â€Å"Taylorism† is â€Å"a sort of ruthless and quasi-Victorian efficiency that melds man with machine, often to man’s disadvantage.† According Taylor’s theory of work organization the worker is nothing but a tool for gaining profit. (Greco)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It will be unfair to say that Taylor’s theory did not do any good for the economy as a whole. In fact it really helped the economy in age of industrial development. But presently, in the age of high technologies we do not need to stress people to work hard. Many jobs require qualified people that being fired very hard to replace. Creating a workaholic – Type A persons, can be very dangerous for future economics of single company and nation’s economy in the whole. Perfect example of the typical Type A person was presented in essay â€Å"Company Man†, written by Ellen Goodman. The main character Phil was working in one company all his life striving for president’s position. There would be nothing wrong with that except for his fanatic desire to work – â€Å"If he wasn’t at the office, he was worried about it,†- summarizes Goodman in the end of the essay. In his desire to become a president, Phil had to sacrifice the other part of his life – his family. His wife Helen and his children did not even see their father too much - even on weekends he could not forget about his work.

Reflecting on My College Experience :: Personal Reflection

When I first enrolled here at State University, I never thought I would ever be in the position to graduate. Finishing college was a huge goal growing up but it was also my biggest fear. But after three and a half years of dedication I plan to get my degree in the fall. Getting this far in college was not easy, it took encouragement from family, dedication, and assistance from others to reach this position. Many years ago I remember my parents telling me that in order for me to become successful a college education was a must. They always told me that if I wasn’t in school I could no longer live at home. Both of my parents attended college but neither of them finished. They did not want me to go down that same road because they really regret not getting their degrees. My grades in elementary school were poor because I had trouble paying attention to things that were not challenging. I tried to play sick just about every day but my parent were not falling for it. My favorite classes were gym, music, and art. Competing in sports is where I spent most of my time. The words of my parents and teachers went in one ear and out the other. â€Å"School just wasn’t interesting to me† My senior year of high school I decided to dedicate my self to school work. All I did was take school a little more seriously and pay attention. Before you know it I had made the honor roll for the first time and continue to make it the rest of the year. Finally the extra work was reflecting in my grades. My parents were glad to see that my education had some meaning. That summer after school I just wanted to find a job and start making some money. Going to college for anther four year was something I thought I could not handle. I final got a job at UPS unloading trucks. At first I thought how hard could it be? But every day I would come home exhausted from working in the heat. And then when I got tiny pay check, it hit me. From then on I decided that manual labor was something that I could not do the rest of my life and I could definitely not support a family on that income. A job behind a desk in the air conditioning was what I wanted.

The Age Discrimination in Employment Act of 1967

The Age Discrimination in Employment Act of 1967 is the primary federal statute that prohibits employers from discriminating against employees in terms, privileges and conditions of employment on the basis of age. The law also applies to employment agencies and labor organizations. To be covered by the ADEA, an individual must be 40 years old or older. There is no cap on an employee's age to be covered by the ADEA. What law requires/prohibits Under the ADEA, it is unlawful to discriminate against a person because of his/her age with respect to any term, condition, or privilege of employment, including hiring, firing, promotion, layoff, compensation, benefits, job assignments, and training. It is also unlawful to retaliate against an individual for opposing employment practices that discriminate based on age or for filing an age discrimination charge, testifying, or participating in any way in an investigation, proceeding, or litigation under the ADEA. Who is covered The Age Discrimination in Employment Act of 1967 (ADEA) protects individuals who are 40 years of age or older from employment discrimination based on age. The ADEA’s protections apply to both employees and job applicants. The ADEA applies to employers with 20 or more employees, including state and local governments. It also applies to employment agencies and labor organizations, as well as to the federal government. ADEA protections include: * Apprenticeship Programs  * Job Notices and Advertisements * Pre-Employment Inquiries * Benefits * Waivers of ADEA Rights Reporting/recordkeeping requirements Employers must keep all payroll records for three years. Employers must also keep on file any employee benefit plan (such as pension and insurance plans) and any written seniority or merit system for the full period the plan or system is in effect and for at least one year after its termination How does one make a complaint if they feel the law has been violated? An individual must pre-file a charge with the EEOC within 180 days after the alleged unlawful practice occurred or within 300 days if a state age discrimination law (including remedies) exits.

Development is dynamic

The goal can be reached only if the progress is checked and monitored at every stage so that immediate goals are appropriately realized which in turn will ensure the realization of the final goal. This verification of the progress is attempted by immediate feedback leading to knowledge of results and is intended to identify or detect a variety of factors.On the basis of this detection, ifficulties can be spot out and remedial measures can be taken to overcome these difficulties. Goal or Objective is being tested. explain how in th elesson taught each objective had a form of evaluation. For deffrentiating family types the worksheet was used. 3. Placement Function: Evaluation may conduct to determine whether the student can be promoted to a further stage, based on the realization o of the expected level. This function of the final evaluation is called the placement function.How they progress in the long term and short term. Short term the teacher must esure that the student is comforta ble with the topic taught before moving on to another. Long term the teacher must not only excel in social studies but all subject areas to move up in grade/standard. 4. Prediction Function: Another important function of evaluation is to predict whether the student is capable to undertake the anticipated objective or not. If a student succeeds in the evaluation it can be predict that he will be a successful candidate.On the other hand, if a student is found to be too poor, it can be predict that he will be a failure. or example if a student has to participate in an interschool competition the teachers must assess potential candidates to ensure they are up to par for the comoetition. example