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Final Project Proposal Worksheet

Question 1: The idea

List three questions about art, gender, and culture that you want to find out about by doing your final project.

How does gender identity influence how people live in a family setup, the wider community, and the workplace?

How do gender expectations relate to advertising and the media?

Is the media afraid of challenging the traditional thinking following how it represents males and females?

How might these questions help create your final project?

My project is mainly focused on the idea of advertising and looking into operations of the media.

Identify and describe the option choice you are considering (i.e., creation of an object, performance, collection, or interpretive exhibit). Tell me why you chose it.

I was delighted to find out that one of the options for the final project was concerned with creating one’s own piece of art because this has been my area of interest since high school. I also believe that the topic gives one the opportunity to express himself well and at the same time be able to expose any form of injustice in the world.

What insights, substance, thoughts, and creativity will this project bring to our work from the term? That is, what topic is explored more deeply? How will it contribute to what we have already discussed this term in a unique or new way?

The project will strive to touch on everything learnt throughout the term although it will focus more on the aspect of male gaze and how it is related to today’s media from my own perspective. It will be unique in the sense that it will focus on male gaze in today’s world unlike how we only discussed past history over the term.

Question 2: Depth of scholarship/commitment project

What steps are/will you take to complete the project? How will you record your steps? (We can only evaluate what you present to us. For example, you may work for weeks on the creation and analysis of a coed football game. However, if by the end of the term all you share is that you held the game, we don’t see the fullness of your commitment. Images, interviews, journaling, and post analysis are all good ways to document what you did.) Explain in detail all the process and procedure you are intending to complete to create, implement, and complete your research project.

My major focus will be to create an art piece and to keep a journal of all my project activities, why I undertake the activities, and what they stand for, in order to document all the experiences during the project work. I will also focus on creating rough drafts and sketches to show how the piece of art changes during the entire experience.

List which readings, lectures, and activities you have completed in class that are leading you to designing your final project the way you are currently thinking? Remember that a minimum of three readings must be cited. Other sources, lectures, activity examples and the like may also be referenced and are highly encouraged.

The major reading learnt in class that my project will be based on is “Bergers Ways of seeing”, although I will also borrow a few ideas from “Horowitz” readings. The other reading that I plan to borrow some information is the reading titled “Gender and Art”, by Gill Perry, which we learnt in class in the beginning of the term.

In what ways are/will these particular sources influence the approach, analysis, goals, and details of your project?

The readings will form the foundation of the whole project since the sources supports the need of carrying out the project although it will be necessary for me to carry out other independent researches on current events.

Findings and Analysis: What are you hoping to learn about art, gender, and culture in this project?

I hope to learn more about gender and gender stereotypes and how they influence the media (Boomen Marianne, 89) I will also focus more on advertising since I’m a journalism student.

Question 3: Personal voice and imagination

Creativity/Originality/Relevance: Explain why your project design brings forth your creative talent. Tell me why you think this is a fresh, new idea or approach. Explain why your project is particularly relevant to your life and interests.

I plan to draw a large and desirable picture although I’m not sure of making it look perfect. I plan to first make a sketch using a pencil, and then use two sharpies; one black, and another color in order to highlight the use of contrast in the piece. I plan to make the design as original as possible although I’m not sure if creating a drawing is a fresh and new approach. I find the project interesting and relevant to my life since I like drawing and doodling all the time by use of sharpies.

Clearly state your purpose, focus, and argument for this project.  What is it about, why is this your concept and intention?

I find the project relevant because I’m interested in learning how male gaze is related to today’s media. I’m interested in the topic because I had earlier looked at it in my midterm essay and it also gives me the opportunity to learn how people are depicted in media and advertisement, especially women (Boomen Marianne, 78-9).

Question 4: Format to reflect your purpose and focus

Careful, thoughtful organization and construction of the product.  In what ways are you planning to organize and construct the project to best represent and exemplify the questions you are explore in the “idea” section? How do you intend the two to direct connect and intertwine your purpose with the visual presentation?

I plan to organize and construct the project by use of contrasting colors and sharpie. I make use of a sharpie because it is modern and has a pop-art feel, which is relevant in critically examining women in today’s media (Boomen Marianne, 87).

How do you think this choice of format will best represent your research and findings?

The use of sharpie and two contrasting colors will help in showing extreme conflicts observed in advertising (Boomen, Mariann, 90. The sharpie also gives a modern and pop-art feel, which is relevant in examining women in the media.

Tell me how the choice of format best represents your intended purpose, focus, and argument for the project?

I make use of sharpie and contrasting colors to represent my idea. The contrast shows extreme conflicts in advertising, as represented by the two conflicting colors. The use of sharpie depicts a sort of modern day and pop-art feel, which is critical in examining women in the media.

Question 5: Provide a one paragraph (no more than 5 sentences) describing how your project will look, how others will interact with it, and what they should walk away from it doing or thinking about art, gender, and culture.

I plan to present my project in a large piece of thick sketching paper and it will be on an 18 by 24 inch sheet since the larger the paper, the easier it will stand out. I also plan to use a black sharpie with either red, blue, or orange as contrasting colors since the contrast is used to depict extreme conflicts observed in advertising (Boomen, Marianne, 98-9). Other people will interact with the project by observing it and getting informed on how male gaze affects advertising and how women are depicted in the media.

Work Cited

Boomen, Marianne. Digital Material: Tracing New Media in Everyday Life and Technology. Amsterdam: Amsterdam University Press, 2009. Print.

Final Project-United States Army

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Introduction

United States Army is one of the oldest land- based military units among the seven uniformed troops of the United States’ armed forces established back in 1775, prompted to fight and win the states’ wars. In its land- based military operations, the army is supposed to maintain and sustain land dominance. In the administration spectrum, the top ranking officer is the chairman of the Joint Chiefs of Staff as the secretary of the army; in the department of the army that falls under the department of defense.The unit has a significant force number of over 1.2 million soldiers subdivided into the Regular Army, Army National Guard [ARNG] and the United States Army Reserve [USAR], with black and gold uniform and allegiance to the constitution of the United States of America. The army is guided by its motto, “This We’ll Defend” and motivated by their Marching slogan “The Army Goes Rolling Along”, with several credits on various wars and battles they have conquered since inception. The army has four major missions which include:

preserving the peace and security and providing for defense of the United States, commonwealths and possessions and any areas occupied by the United States

.Support national policies

Implementing national policies

Overcoming any nations responsible for any acts that imperil the peace and security of the United States

Training

Training is an essential component of any armed force in a bid to combat existing and arising cases of conflict within and outside the boundaries; a prerequisite for alertness to the changing terrorism activities and the need to adapt to the mechanization of war science. Initially, soldiers are placed on the parameters of their recruitment and placement that is, as Regular Army, Army National Guard or United States Army Reserve; with the reserve components composed of part time soldiers who trainonce in a month and others conduct two to three weeks annual training, for ARNG and USAR respectively with placement based on the best and most qualified basis during the training period. The changes of national policies for the United States and the change of nature of terrorisms and other national threats and disasters calls for effective training by the soldiers on the various aspects of combating these disasters and strategies to help them exclusively contain threats. Incorporation of innovations and technology in the training field has necessitated a higher profile of threat detection and though the military depends largely on other bodies such as the Central Intelligence Agency, space technology has enabled aerial threat analysis and formulation of strategies of combat in case they arise.

A soldier, before graduating will is required to successfully train the Basic Combat Training [BCT], conducted the first ten weeks, where they are impacted with fundamentals of being a soldier such as combat techniques and problem solving or approach strategies. At this point, the rigorous training for physical and psychology and aspects of self- discipline will be essential to introduce the prospective soldier to daily routine schedule that encompasses duties with high expectations for which civilians are not immediately ready (Taylor &Mossholder, 2010). The Advanced Individual Training [AIT] which encompasses training of specifics of the chosen field for Military Occupational Specialty, with courses lasting 6-52 weeks, calls for strict daily schedules, high degree of self- discipline and tests of physical fitness and weapons proficiency, though not intensively like in BCT. To improve on effective transition from BCT to AIT, specific programs should be implemented to guide the recruits in the choice of specialization as majorities are guided by their previous academic achievements which are not a true reflection of self-worth. Proper guidance will ensure the recruit specializes in a field he can handle which acts as self- motivation, improves behavior and the overall output due to increased performance (Tassa, Sears &Schat, 2011).

Soldiers Motivation

Like in other fields of specialization, military operations are faced with challenging situations which to some extent involve body injuries and loss of lives, separation from families and loved ones and certain situations that call for independent decision making which sometimes have repercussions. For instance, in the BCT, the intensity of training may involve body injuries and during the test of weapons proficiency lives can be lost accidentally due to recruit’s incompetence making the field dangerous and thus motivation is paramount. The physical and psychology demand in the army operations encompass both the physical and psychological separation from their families and loved one since they have to accomplish the intended objective within the specified period; a factor that calls for effective motivation strategies to minimize distractions.As a critical unit of security and safety of the territory, the administration and respective stakeholders should come up with motivational strategies both long and short term, for the active and reserve factions. It is observed that the Regular Army feels over- worked in the sense that their training and operations are almost in daily routine compared to ARNG and ASAR, the effective motivational strategy would be encouraging joint operations endeavors irrespective of the cadre and/ or device other personal or monetary motivations for the group that feel over- worked. Joint operations in case of disasters or security threat would homogenize the disparities of the demands in the fields which as a motivation strategy is a cornerstone of organization performance because of its fundamental collaborative nature (Perkins &Arvinen-Muondo, 2013).

Another approach to guide in soldier motivation is consistent guidance and counseling before and after combat missions and during their training or resting hours. Counseling will create positive role identification and promote self- esteem which will go further to promoting personal rationality in decision making and development of positive perspective of job evaluation. During combat, when in some circumstances there is necessitated need to make rational decisions which might have repercussions to the soldier or the military base as a whole, lenient course of actions should be defined for the soldier deemed to have committed crime in war zone. On the monetary approach, effective and non-discriminatory structures of bonuses and appreciation packages should be formulated in a manner to promote self- determination in service delivery rather than segregate the force into respective organs. For instance, additional monetary perks in form of bonuses for the Regular Army will be a key motivation strategy which should be in line with their daily activities or involvements but a joint annual appreciation perks for the whole department would be paramount to motivate the force as a whole. Other provisions such as family visits and periodic days-off will go further in promoting the personal discipline and the collective responsibility (Clegg, Komberger&Pitsis, 2011), traits necessary for the operations of the military operations.

Data Management and Records

The success of any organization, public or private, is pegged on the evaluation of the progress which is based on data available which demonstrates the planned objectives, the stages of implementation and the overall business level and position. The United States Army has automated its data and information with respect to modern technology streamlining the access of information of the soldiers, their specialty and the list of operations and respective achievements and progress. The information systems vary in complexity and design depending with the nature of information contained in them and the respective organs but the end goal is to monitor the departmental progress and provide functionality support whenever reference is required (Whitman &Woszczynky, 2008). One system shows the data on community outreach whereby community relations division coordinates army national wide community outreach by developing relationships with organizations, businesses and sport teams and individuals who support soldiers, families and veterans. The overall objective of maintaining up- to- date data records is to ensure effective data management to enhance monitoring and control of the army operations and identification of soldiers and forces.

Sensitivity of information contained in the military data base and records calls for effective scrutiny of the systems to ensure privacy and control of public panic more so in safety and security issues. For instance, in the process of overcoming acts that imperil security and safety of United States, the operations might involve forceful approaches which may not be safe and knowledgeable for public to access or synthesize. For information interchange and socialization between the army and the members of public, the management and the stakeholders should adopt social media approach in a larger but controlled scope to ensure socialization and monitor the public satisfaction with of the services provided (United States N.R.C, 2012). Publications on the progress of missions and other involvements by the army should be restricted to one controllable source which should give detailed information and other aspects that the public need to know in line with constitution provisions.To ensure maximum security on stored data and records, innovative technologies should be adopted by the department of defense to ensure maximum security and safety of stored information such as annual change of parameters of the data stored and diversification of security protocols to incorporate current security features.

Technical Upgrade

Innovations in science and technology have seen integration of human activities across the globe to a level of making it a small village where everyone is in touch with the world at any moment. Like any modern institution that relies on the information, United States Army has not been left behind in moving along with technology from using modern weapons to integrating information for convenience and reliance. This has improved awareness on the existence of internal and external threats on timely basis and the combination of the firsthand information with the modern weapons and machinery has eased military’s operations. Majority of the army missions are time-limited with one time output expectations and combining the skills imparted to these soldiers and technological innovations brings about variations of judgments especially in field work; pools together knowledge and non- repetitive results in scope and implementation (Cagnin, 2008).

Highly technical weapons have enabled the infantry conduct their covert missions especially across the boarders in areas where the outburst of their operations are not safe for the public. The technical upgrade of the weapons coupled with modern combat techniques have enabled the reduction of death rates thus improving on their safety at war front which is a motivational factor for recruits joining the forces. Apart from relying on the aspects of technology and new combat techniques, militants should be empowered to use their individual expertise to explore and adapt to new innovations in a bid to create effective and efficient workflow during the combat so as to utilize the equipment. Depending with the scope of war and the financial backing by the government and relevant agencies, open minded thinking will go further to improving on the safety of the militants during combat and in resource allocation by relevant departments to alleviate idling (Han, Kim & Lee, 2009)and timely response in case of threat. With the rise of new and advanced terror activities, management should consolidate the available and scientifically proven methods of technical combat to ensure optimum resource allocation that is, weapons, machinery and combatants in a given mission for maximum results.

Recruitment

To ensure the survival of the force and incorporation of new ideas within the departments, recruitment is done occasionally to fill in for the retiring veterans and to keep up with the operations demand brought about by technological changes. This involves advertisements and applications by interested individuals for different sections within the army via the United States Army Recruiting Command [USAREC] with missions to recruit commissioned, non- commissioned and officer candidates for service in the United States Army and Army Reserve. Recruitment is guided by the command’s mobilization doctrine which focuses on objective, flexibility of the recruits in line with changing business environment, unity of effort and timeliness. Flexibility aspect acts as a backup plan in case there are changes in personnel line up and/or regrouping of the officers for unexpected opportunities and talent friction within the army. Since army operations are commonly a joint in the sense that all arms require functioning of others, appreciation of unity of effort is paramount to cater for teams’ coordination for the purpose of combat or joint operations (Carter, 2010).

For effective objective achievement, integration of chains of command in the five recruitment brigades with those of support brigades in USAREC is paramount to enable coordination and implementation of decisive objectives. For instance, the recruitment activities such as medical and psychological analysis, induction and administrative processing of prospective personnel will require effective definition of hiring process, assurance of attainable aspirations and division of labor between the two sides for effective recruitment. This will further ensure that parties’ efforts are timely aligned for effective mobilization of actions to ensure clear definition of the recruitment objectives and resulting impacts. With the command employing a huge number of personnel from more than 1600 recruiting centers across the United States and overseas, timeliness will be paramount to actively recruitment that would respond to changes of battle fields and environment and ensure the right personnel is placed in the right place (Freeman, 2011). This would further help in coordination of resources across the recruitment centers and convenient access of information and personnel in order to act faster than the enemy during combats.

Leadership Structure and Administration

Leadership and effective management is a core requirement for prompt running of any given organization and calls for integration of powers and authorities within the departments for effective control and transformations. For the United States Army, the chain of command runs from the president who is commander in chief of armed forces, structured to Department of Defense to agencies, civilian and commanding officers. The core goal of the structure and administrative positions is to oversee the complexities of the joint command and control functions within the various units. Leadership is not a mere transfer of command or powers within the structure of the Armed Forces but calls for leaders- follower relationship which is strengthened by mutual reciprocal correlation (Taylor, 2011) between the commanders and the officers in a bid to reinforce the overall military goals. This promotes a mutual influence between the commanders and officers; propelled by a positive attitude and the personal steps taken by the chain of command or administration to correct/ improve the situation, a feeling by the officers that their wellbeing is catered for hence motivated. The administration strategies applied in the United States Army are motivating to the officers and the non- commissioned employees with foster communication taking precedence whereby effective communication is applied to all levels of command and gets to the intended officers in a timely manner. The other effective strategy applied is the officers’ involvement in developing the mission plans at preliminary level creating a network of exchanging information which in the long run promotes personal development of skills on a given role and career wise along the administration ladder.

As a joint operations organization, several measures need to be taken to improve authority and transfer of power within the different units of the army or along the chain of command. With attitude and performance as the basic principles of operations in the military, greater heights of leadership relationships are a prerequisite in that for instance, at the unit level, the commander can best motivate junior officers and integrate other resources if he/she understands the traits of the unit and tries to merge these traits with the officer’s talents and aspirations as governed by the institutional rules (Casper, 2011). It should be noted that this needs to be an outsourced post with commanders not only qualifying in the BCT or AIT but someone with a proven management/ administration background. By adopting task- oriented behaviors along the administration chain that is, from the president down to the officers, improve planning and resource allocation along the chain which promotes effective service delivery along the chain. For effective adaption to changing environments in the combat zones and the rise of new international threats and terrorism, the agencies and respective entities should promote innovativeness and development though support and collective learning, which allows job knowledge, desire to lead and be led with integrity and the overall change- oriented behaviors within the units.

Ethics

Leadership and administration relies much on ethics of the commanders and the officers in that each has to take control on his/her path to ensure smooth running of the institution. In the military setting, ethics refer to behaviors that dictate the principles, standards, policies or rules entitled to Armed Forces which are morally upright; and each of the stakeholders need to observe to be in line with the requirements of the United States Army. In the military grounds, ethics are bound to change with time depending with the environment and missions at hand in that policies and standards expected of each stakeholder for instance, while supporting and implementing national policies will be different with those expected of them during combat or while preserving national and international security (Academic & B.R.I, 2009). As an institution, The United States Army has maintained high ethical standards for the last 25 years with changing policies and nature of work regionally and internationally. This should not be overrated as the same institution can be faced with gross misconduct of a few individuals or the whole institutions due to negligence and criminal behaviors. For instance, during combat a few individual within a unit can breach the international humanitarian laws of combat either due to criminal behaviors or negligence and/ or the whole base/ unit commit such kind of crimes due to negligence by the commander or lack of information from the chain of command.

The United States Army has independent mechanisms of controlling unethical behaviors within the institution such as vigilance controls over the combatants; legal sanctioning within the armed forces’ disciplinary framework and bureaucratic controls along the chain of command. To curb these kinds of externalities in case they are about to happen, adequate psychological and emotional support should be given to soldiers before they get into a combat and effective training of the commanders so as to keep in line with the regional and international principles (Mele, 2011). For instance, during recruitment, medical and psychological analysis should be done by experts who can identify slightest variation of human behavior in a bid to curb such kind of variations in the long run after recruitment and training. Collaborative mechanisms such as pursuing projects that can be done as a unit, finding new challenges that need team work and appreciation of diverse pool of knowledge and expertise within the officers, makes colleagues see each other as resources and this improve control and adherence to ethics by members. In addition, immediate review of policies and standards should be done on regular basis and effective communication network established to ensure that each party is informed and adhere to these rules.

Operations

Apart from maintenance of peace and security from national and international threats, United States Army is involved in support and implementation of national policies such as distribution of relief food and overseeing international policies respectively. As their core responsibility of maintaining peace, strategic planning of their operations and code of conduct is paramount to achieve the intended goals (Sharma, 2010). The army has achieved their goals in several missions regionally and internationally with credits such as 12th combat aviation brigade, V Corps, 2nd cavalry regiment and many more, which can be attributed to functional strategic management. The unity and harmony demonstrated in the way they carry out their operations during training and on other missions is a true reflection of effective leadership and communication (Wang & I.R.M.A, 2010) that integrates coordination. To further improve on effective coordination in their operations, the administration should shift the focus of administrative roles from bureaucratic approach to a more collaborative approach to promote innovations and sustain personal discipline during the operations.

Structural and Organizational Changes

The structure of administration and governance of the United States Army has been changing with time incorporating the institutional needs which are greatly influenced by changes of environment and technology. This has greatly influence the organization of units and techniques or styles of operations (Schein, 2010). For instance, technological advancements have changed the warfare tactics such that in missions that required a troop of 1000 soldiers in the start of 20th century can be accomplished by a troop of 100 soldiers with modern equipment and weapons. This has influenced organization in that for instance, during the time these troops could be commanded by 20- 50 commanders whereas today the 100 soldiers might require 2-3 commanders. This has changed the structure of administration making the chain of command more effective in running their activities; mechanization and automation of weapons have eased the combat missions and streamlining of the labor force has improved on working conditions and cutting of the government expenditure. Though streamlining the structure further might sabotage power transfer and implementation of authority at unit level, the administrative structure can be trimmed further to help on accountability and collective responsibility (Tsoukas& Chia, 2011) aspects in the chain of command.

Accountability and Development

United States Army like any other institutions accountability of leaders and officers is paramount in a bid to achieve predetermined goals and objectives whereby everyone is responsible for his/her actions. As a national institution, its development is important for the security and military prowess of the United States and this can be achieved through accountability in all units and levels of administration. The disciplinary mechanisms within the military jurisdiction have promoted accountability and this has seen development of the army into various functional units. Accountability calls for acceptance of responsibilities within one’s scope of operations which has enabled majority of soldiers and their commanders streamline opportunities to strengthen developmental skills and advance their careers (Ruccio, 2010). As a joint operation institution, more accountability measures need to be put in place to strengthen personal responsibility and discipline within the forces and in the public. For instance, an army officer may misuse powers and privileges granted them by the state and Department of Defense which might inflict pain or atrocities to the public and effective measures need to be taken. Collaborative aspects by the Department of Defense and Judiciary in disciplinary matters of some issues can be paramount for the protection of the public from criminal individuals within the army (Prenzler, 2009).

Soldiers Empowerment

The administration has with time enacted measures that promote empowerment in a bid to enhance personal development and a sense of belonging to the militants. This has been achieved through the strengthened communication network along the chain of command which has enabled each party to channel their views and grievances for collective responsibility and workability of operations (Kushal&Ravishankar, 2010). This has further improved on the innovativeness of the soldiers during combat more so in the complex situations where rational decisions have to be independently made. For instance, the independence of military disciplinary mechanisms that is lenient on some issues that calls for rational decisions by combatant is a form of empowerment which in the long run promotes innovativeness. In leadership and administration, the army has strengthened the transfer of power based on merit and past achievement which acts as motivation and long term empowerment since the soldiers will work effectively for the corporate ladder without fear of discrimination. Productivity of employees in any institution is pegged on the employees’ personal allegiance to the defined roles and job satisfaction and proper motivation encourages innovations and independence in service delivery (Amar, 2012). To further improve on soldiers’ empowerment introduction of goal- oriented activities that involve personal decision making which should be coupled with token of appreciation should be implemented within all units and non- discriminative selection and appraisals reviewed periodically.

Planning and Budgetary Allocation

United States Army is heavily funded by the government with outsourcing from affiliate agencies and other civilian bodies which has enabled the institution in making independent decisions. Planning revolves around the situations at hand with much of the budgetary allocation set aside to cater for equipment and emergencies such as international security threats. This independence has enabled the decision makers in optimizing strategies for effective results and this has seen the army develop into one of the powerful military institutions globally. Planning in the army has lagged in terms of timeliness in that the bureaucratic influence caused by a long chain of command slows down the response on critical planning issues which cannot be tackled at unit level. To improve on timeliness, a factor in the principle of mobilization, decentralization of powers and authority of command on some planning issues can be left in the hands of commanders at unit levels; which should be coupled with unit’s budgetary allocation for convenience and effective decision making process. This is due to the observation that divisional corporate structure separates the units into functional entities that guarantee stability of operations and innovativeness/ competitive strategies (Gibaldi, 2009).

Research and Development

Science and Technology has necessitated adoption of new techniques of combat motivated by new equipment and weapons and the rise of complexities or advancement of terrorism and international threat. Currently, the acts of terrorism are carried out in the space with communication and equipment innovations taking precedence and thus the need to advance in research and development to curb these externalities. United States Army has established research and development centers in various points to help in furthering knowledge on modern combat and timely identification of threats before they can occur. For research to be done independently more so on matters that touch on national security and promote a wide coverage of the matters at hand, the government and other financing agencies should come up with strategies to ensure continuous funding that streamline the research and development department (Elis, Petridis & BCS, 2010) in the army. This will be in line with the technological requirements which call for extensive and independent research that is capital and labor intensive, factor that can be catered for by effective funding.

Strength of the Nation

The United States Army has undergone several transformations since the start of 21st century which has overseen significant events and milestones to maintain posture as the strength of the nation. The army draws much of these transformations such as from a division-centric form to a brigade-centric form which is more agile and allows the army to train and equip units with specific missions they will perform. To maintain physical fitness, the army has implemented programs such as comprehensive soldier fitness, warrior terrorism units, and veterans all receive the support they need while in the army and while out. These are comprehensive programs that cater for holistic development of militants while on combat and when they retire giving the strength of the units at all levels and time. This has further been supplemented with medical innovations where research and development of prosthesis has improved healthcare and quality of life for wounded warriors. To promote further fitness and readiness in the field, management needs to device cyclical readiness processes that units can turn to equipment after deployment, receiving equipment before deployment and effective allocation of high notch equipment to all units for immediate and convenient response (Dutton, Roberts &Bednar, 2011).

Safety and Units Engagement

Complexities and sensitivity of operations by the military calls for high degree of safety is guaranteed by the state and respective bodies and dependent on the units/ soldiers’ engagement. The intensity of the physical training which includes the psychological adjustments to the unfamiliar regions and conditions of life is essential to introducing the soldiers to the mission aspect of the military and prepares them psychologically during a combat or rescue missions. Units’ engagement promotes the social needs of the soldiers such as the acceptance and sense of belonging which not only motivates the soldiers in the process of a combat but encourages innovations and variety of problem solving approaches in future. Safety parameters should be the parameters used by relevant bodies to judge the effectiveness of the safety strategies and to evaluate the militant’s engagement in their formulation (W.L.G, 2011). This is due to the observations that different units will require different safety measures dictated by the environment they are in and this can be streamlined by effective involvement of the units in the process of negotiation and planning.

Conclusion

United States Army has undergone several transformations which have made it the strongest military power globally; factors that can be pegged on leadership and administration, research and financing and their overall objectives and allegiance to the constitution in their operations which can further be improved in the areas stated.

References

Academic and Business Research Institute.(2009). Journal of academic and business ethics.

Amar, A. D. (2012). Managing knowledge workers: Unleashing innovation and productivity. Westport, Conn: Quorum Books.

Casper, W. J. (2011). Special issue: Career and work concerns of diverse and understudied workers. New York, NY: Academ. Press

Clegg, S., Kornberger, M., &Pitsis,

Final Revision of Proposals

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Who issues the request for Final Proposal Revisions? (FAR 15.307(b))

The request for Final Proposal revision is issued by the responsible Government urgencies after the proposals have been received, evaluated according to cost, technicalities associated with it among other factors. The request for Final Proposal Revision is issued by the government argents responses for receiving and evaluation the proposals.

What is a final proposal revision? (FAR 15.307(b))

Final Proposal Revision is the revamping of the original proposal. They are employed in negotiated acquirements to illustrate Government needs to the respective offerors and to importune proposals. The FPR is confirmed as a consequence of variations in the proposals as a retort to the “ask for” for Final Proposal Revision. This gives the authority concerned with the choosing with a enough information and reasons post FPR’s receipt.

3. When is a final proposal revision requested? (FAR 15.307(b))

The revision is requested after the initial proposal has been received and necessary discussions by the government officials conducted. After the negotiations, the agency gives chances of invitation of the chosen people/organizations who were offering the proposal so that they may present their finally revised proposals. This was in the past refereed to as Best and final Offers and abbreviated as BAFO. All the revisions are done as per the discussions that the offeror made with the government urgency during negotiations. The revision is done post the preparation and evaluation of the proposals of the offeror as complemented by feedbacks to the necessity for FPR. The proposal must have been accepted and selected among the present proposals.

4. To whom is the Final Proposal Revision request sent? (FAR 15.307(b))

Normally, any final Proposal revision is sent to the government argents. The proposal is obtained under FAR Negotiable Procurement. After this, the responsible personnel (urgency) curries out negotiations (discussions) with the person who is offering the proposal and this is done post the receipt. This receipt that is issued at this stage mainly entails the cost of the proposal and any technical issues as per the proposal. The final Proposal Revision request is sent to the person/people who are offering the proposal but sent by the government urgency.

5. Can you request a Final Proposal Revision from only one of the offerors in the competitive range? (FAR 15.307(b))

This is possible. All depends on the issues and the price of that proposal. In cases where the prices of other proposals are higher and there are numerous technicalities that are associated with that given proposal, it is rejected and revision not requested. This in some cases happen to majority of the proposals and in some cases only one is left.

6. How is a final proposal revision requested? Why? (FAR 15.307(b)

After the proposals have been made, they are reviewed and evaluated. The best is chosen from them and negotiations with the government urgencies commence immediately. Sometimes, the solicitation may authorize the organization offering the proposal to revamp and change its conditions and terms.

7. Can you request a Final Proposal Revision from offerors at different times as you complete discussions with each? Why or Why not?

This is not possible. This is due to the reasons that before the revisions re requested, the best has to be chosen. The policy cannot allow this as well. All other factors have to be considered and all aspects reviewed before any revision sis requested. By requisition for revision indicates that that given proposal has been accepted. Two or more proposal cannot be accepted at the same time and this eliminates the possibility of having two or more proposals under revision. Suppose the proposal f one organization is removed from the range of those are competing, there should be no further revision to be requested from that offeror.

8. What factors should be considered in setting a reasonable common cutoff date and time for final proposal revisions?

In setting a god cutoff date that the proposals should be handed-in, there are numerous factors to be considered. Suppose the project was to start urgently, the time for submission must be enough to provide for revision if necessary. Time is one of the factors. The other is for flexibility and comfort. This is because suppose the chosen proposal fails, the next best alternative can be selected. This is the reason for collecting the proposed proposals early. The factor that depends the time tat the proposal should be collected is time of announcements. Adequate time should be given tat all the public have opportunity of reviewing it and submitting their proposals. This is to eliminate the biasness and the chances tat the other proposal providers do not have adequate time and chance for application. All the possible organization and individuals will have good and equal chances.

9. Does a Final Proposal revision request have to specifically allow a hand-carried response?

No. all the responses are to be posted and obtained from there. And in ay case the applications were online, the same method or even posting have to be done. This leaves no room for hand-carried responses. The other reason for posting is for confirmation and future references. All the public offices recommend that all the responses be posted.

10. Can you address more than one Final Proposal Revision, if necessary?

There is no chance of doping that. At the time the urgency give out the invitations, the routine clearly indicates that all negotiations have been finalized and it further illustrates that no other discussions will be conducted. The revision is done once and for all after which invitation is issued. Final Proposal Revision is the final and the last chance for those who offer the proposal and the government. In short, the Final Revised Proposal is the final opportunity that the government and the offeror have to give the appealing proposal. This is the policy that governs the submission and the revision of the proposals. It is straightforward and applicable in all government proposals.

Reference:

Alele, P. (2006). Proposal. Procedures by Government. 2nd edition., 3rd volume. Macmillan Publishers, pg 34-35.

U.S. Government Agency

P.O. Box 3008

Washington, DC 20405

June 24, 199X

Acquisition Directorate (AD-211)

Purdon-Cecom Corporation

ATTN: Ms. Lois Brenner

P. O. Box 619490

DFW Airport, TX 75206-9490

SUBJ: Purdon-Cecom Proposal #9X-555

Dear Ms. Brenner:

This letter is to confirm our telephone request of June 1 for a “best and final” offer from your firm. You are hereby offered the opportunity to submit a price revision to your proposal. No further technical information or revision is desired.

Your response must arrive at this office not later than 10:00 AM, local daylight saving time, on June 27, 199X.

Be advised that any final proposal revision received after the specified time and date will be subject to the FAR provision, 52.215-1, Instructions to Offerors – Competitive Acquisition, which is contained in the RFP.

Please indicate any restrictions to be placed on information contained in your proposal under the provisions of the “Freedom of Information Act.” In addition, ensure your proposal includes any appropriate restrictive legends.

Sincerely,

Pat U. Back

Contracting Officer



FINANCE AND ACCOUNITING ESSAY

EXCELLENCY CLOTHING COMPANY

REASONS FOR PROFIT DECLINE AND SUGGESTIONS OF IMPROVING PROFIT

By (Name of Student)

Instructor

Course

Institutional Affiliation

Date of Submission

Reasons for Profit Decline

The financial statement of Excellency Clothing Company depicts a reflection that there has been a decline of profit from £14746 in 2913 to £13176 in 2014. It is worth to note that there has been a general low rate of return by several London companies and businesses for the recent past years and not only hr clothing companies. However this analytical and explanative papers shall be solely focused in determining the probable reasons behind the declines in profit for the

Clothing industry in London, that is Excellency Clothing Company. The paper’s thesis shall in addition provide a discussion on the suggestions of what are to be done in order to improve the profit performance of the industry in the future. The following analyses are the probable reasons for the reduction of the industry’s profit according to the London’s time and tide (2011) newspaper explanation.

According to the Excellence Clothing Company journal of 2014, there is a general decrease in base of revenue for the company. The revenue of the industry declined from £255063 to £215623 from the years 2013 to 2014. Since profit is a direct related function of revenue, that is profit = revenue – cost (cost of sales). Such a reduction in revenue consequently leads to loss realization or profit decline. There can be quite a number of factors that may lead to such a reduction in revenues. The policies of London have been proved to be ignorant on the clothing industries. The policies have not allowed for any incentive offer to be given to the industry. There are also varieties of stringent restrictive actions imposed by the London policies that have subjected the industry to many operation ceilings (CLUTTERBUCK, & CRAINER, 2012). This means that the company cannot operate beyond a certain set level of production even if it has the capacity of doing so. Most of the policies especially those by the London government have imposed huge amount of taxation on the industry in the year 2014. The industry is being taxed hugely in cases where the clothing raw materials to be used are imported. The custom duty to be paid in such cases of raw materials importation have been cutting deep in to the amount of cost expenses that are to be paid by the industry.

The company is as well expected to be paying excise duties monthly and submitting their returns for excise duty charges. The above mentioned costs of taxation are of a negative impact to the industries revenues. Since such costs have to be paid by the industry through making withdrawals and deductions from the revenue amount. As provided in the equation for profit determination, when the revenue reduces and cost (arising from the taxation policies) increases, the profit amount has to definitely decline. This provides an explanation as to why the industry has realized a decline in its profit amount in the year 2014. On the other hand, the profit for the industry in the year 2013 is much higher than that of 2014. This can be argued to be for such reasons as, for instance, in 2013 the rate of taxation by the government stood at a lower percentage of 35% compared to the 40% of 2014 on the total gross profit. This therefore led to increased profit base in 2013. Since there were less deductions to be made on revenue of 2013 while the deductions of 2014’s revenue were much higher. Consequently making the profits of 2013 (£14746) to be higher than that of 2014 (£13176) as recorded in the financial statement of the company. It can therefore be concluded that the increases in deduction amounts imposed by taxation policies is a reason that lowers the revenue of the industry (CLUTTERBUCK, & CRAINER, 2012). Thereby in extension leading to profit declines.

The trade receivables of 2013 are lower than that of 2014. The trade receivable of 2013 and 2014 are £30124 and £34592 respectively. Trade receivables are financial elements which represent the amounts of debt that the company is expecting to receive. How does the higher trade receivables of 2014 than that of 2013 lead to decline of profits in 2014? The higher amounts of trade receivables expected by industry in 2014 than that of 2013, means that there were debts much that had not been received by the company in 2014 than in 2013. This is why the trade receivables (or the expected amount) by the company is higher in 2014. Since a lot of the amounts being to be paid by the customers who made purchases on debt are still pending and have not been settled.

In Layman’s language, what this means is that, in 2013 the company received much more amount in its debts sales than in received in 2014. Therefore in 2014, due to the low amounts that got paid in debt expected amounts, there was a decline in profit amounts. One of the reasons that lead to such reduced amounts of trade receivables is majorly caused by default in payments by the customers. Most of the default payments are always subject to write offs. Therefore it can be argued also that in 2014, there were more debts written off than in 2013 leading to the trade receivable of 2014 being much higher than that of 2013. This is because there were amounts that were expected to be received in 2014 and yet in reality those receipts were not really realized. Therefore, this explanation provides one of the reasons why the profit declined from 2013 to 2014.

The retained profits of 2013 (£70715) is lower than that of 2014 (£83236). How then does lead to decline in profit from 2013 to 2014? The lower retained profits of 2013 may imply that much of the profits received were used for other purposes of additional clothing production investments. Such additional investments are potential factors that can increase the amount of revenue received by the industry. On the other hand, the higher amounts of retained profits by the industry in 2014 can be an indication that much of the profits received put in idle accounts and were rather not used for any other form of investment. The phenomenon of putting the company’s profits in idle accounts as retained profit means that there will be as well low amount of revenues to be received or expected in the year 2014. From the explanation, it is therefore clear that in 2014 there were less revenue or profit to be received by retaining much of the profits rather than investing for other additional profits. While in 2013 much revenue or profit were expected or received due to investing much of the profit and retaining less of them.

The trade payables in 2014 are higher than the trade payable in 2013. Trade payables are always a representation of the Excellence Clothing Company’s credits (amounts to be paid by the company to its creditors or the debts owed by the company). This means that in 2014 the company had much debt which it paid standing at amount of £40243, than in 2013 when its debts were £31986. The paying of much more debts in 2014 than those paid in 2013 also makes the profit of 2014 to be of a decline when compared to the profits of 2013.

Suggestion of Improving Profit

The profits of the Excellence Clothing Company can be improved by using a variety of financial tools and elements as suggested in following discussion. Taxation rate should be cut by the government. Reduced taxation amount leads to the company to realize more revenue earned in its financial or income accounts. Since profits are in a direct relationship with revenue if all other financial factors are considered constant. The reduction in taxation leading to increased revenue earnings makes the company to realize much improved profit (PRESTWICH, 2009).

The company should also cut its cost of operation and reduction. Cost reduction consequently lead to reduced company’s debt (that is trade payable). When the company has low debts which it is to pay to its creditors, the profit amounts will consequently increase. Also, the company should expand its production and sales operation by investing much of its profits in other separate additional investments. The additional investments may be actuated by opening up more clothing departments for the purposes of either production or sales. Through additional investments the company is likely to improve its profit since more revenues will be being fetched.

In addition, the financial tool of traded receivable can be used by the company to increase its profit. This can be done in such a manner that the company ensures it reduces its trade receivable. This can be achieved by the company through reducing its debt sales. Reducing debt sales creates a provision that the company will be subjected to little or no debts from its customers. Some of the ways of ensuing that the trade receivables (debts by the company’s customers) are reduced is by initiating measures as cash in hand payment, payment on delivery or payment on receipt systems. The company will therefore be able to realize more improved profits since every sale made has an assured of payment or receipt (FERGUSON, 2013).

Bibliograhies

(2011). Time & tide. London, Time and tide.

(2014). Textile manufacturer: materials, production, management. Manchester, England, Joseph Appleby Ltd.

CLUTTERBUCK, D., & CRAINER, S. (2012). The decline and rise of British industry. London, Mercury Books.

FERGUSON, N. (2013). The great degeneration: how institutions decay and economies die.

GREGG, S. (2012). Becoming Europe economic decline, culture, and how America can avoid a European future. New York, Encounter Books. http://public.eblib.com/choice/publicfullrecord.aspx?p=909526.

PRESTWICH, M. (2009). Proceedings of the Durham Conference, 1997. Woodbridge [u.a.], Boydell Press.

Name

Professor

Course

Date of Submission

Finance and Budgeting

United State Military Enterprise involves provision of security to the American citizen and provision of peace missions in the world. United State military undergoes special training that allows the soldiers to harden and have the ability in manoeuvring the hardships. United Nations gave the task of provision of the peace mission on United States Army because of the good reputation present on the American soldiers. United Nations is investing heavily in terms of finance and resources for ensuring efficient delivery of services. United States of America adds extra support on the provision of funds that facilitate training. United States military fears the tough competition of other soldiers from other nations that want the mandate of world peace maintenance. United States of America invests heavily on the military personnel, the nation recruit high number of military personnel. The Army also orders sophisticated weapons that help in the maintenance of peace.

United States of America fears the competitive business of peace maintenance since it is a fast growing enterprise. The military enterprise is oligopoly since there are few nations that have the capacity of maintaining peace in the world. Although the United States of America is among the few countries that can afford in world peace maintenance the stiff competition makes the American government invest heavily in the military sector. A major dimension of the United States of America mission is a military budget that gets allocation of funds from the Department of Defence. United States military force comprises of U.S. Navy, Marine Corps, U.S. Army, Coast Guard, and Air Force. Part of the hefty finances is in good salaries and provision of amenities that motivates the soldiers towards accomplishing the mission of maintaining peace. Parts of social amenities soldiers receive are health care, family insurance, and total compensation in case of death of a military soldier.

The oligopoly structure of business competition gets the domination from Russian military, Japan Military, Korean Military, French, and German Military. The stiff competition results in high prices of arms, facilities, and equipment essential for the military operation. Caution is essential in the military operations and business transactions. Strategic planning involves the identification of main participants in the military market. For example, the main participants in the provision of military aircrafts include Airbus, Boeing, and Lockheed Martin. High demand of quality and sophisticated aircraft results in raising the prices of manufacturing of military aircraft. Competitor nations that require the contract of world peace maintenance make decisions that have influence on the decision of the United Nations management team. The measure of market share in oligopoly competition is collusion of interest towards the strategies to use in peace maintenance. Winning the contract of the peace mission require convincing ideas on the strategies towards long-lasting peace maintenance.

United States of America Military forces often win the contract due to specificity and division of labour within the military force. American Army avoids formation of the cartel that may influence monopoly towards provision of security in the world. Monopoly results in low production and high prices of the market price of military arms and equipment. Oligopoly competition ensures that the United States military has maximum profits towards provision of peace in the world and sets the prices of all the army equipment. The oligopoly competitive structure ensures the United States army does not acquire patents on some war weapons like nuclear and biological war-agents. American army struggles in access the complex technology that is expensive for efficiency of security delivery system. Economies of scale result in high taxation of the citizens for the maintenance of the military forces.

Improved project management capabilities in the United States Army allow the military handle the challenging missions that may be hazardous the participants’ health. Improved management of the military enterprise emerged from the illuminating incidence of 9/11 that detected that terrorist used hazardous material towards committing the crime. United States military forces collaborate with the military health system towards provision of health security measures in curbing crime in the world. The competitor bodies in the oligopoly competitive environment lack the advanced protection of the military forces resulting in the low number of recruits and a high number of deaths in war missions. United States Military has the powers of altering the budget and schedule depending on the calamity present in the world while competitors do not have legal rights of altering the financial budget. Improved project management enhances proper channel of communication with the project stakeholders in order to address challenging issues in the operation mission.

The divisions present in the United States military have project team leaders that address emerging issues. Department of Defence offers project management solution on the United States forces such as knowledge and methodologies. United States soldiers have additional project management benefits such as expertise and knowledge of team management which the competitor armies in other nations lack. Proper budgeting and financing allow the United States Army overcome the challenges present in the war mission and removes delays that may occur due to financial difficulties. Competitors in the oligopoly competitive environment have challenges of personnel, patient care, poor communication protocol, and poor hygiene of the soldiers. United Nations require a stable and reliable military Army that has the ability in emergency response of a disaster hence electing the United States Army for its preparedness. Oligopoly competition requires evaluation in order to consider changes that are necessary for the military team.

United States Army aims in offering the best towards protection of its citizens and the world from wars. Testing of weapons is essential before war mission and United States Army forms a mock war among the divisions in the army for testing the weapons. Mock war may have injuries, death and destruction of weapons, the project management team should have enough funds that allow will cater for mock wars and the compensation of the injured soldiers. In some situation, the team leader may cancel the use of the war weapons if some of the weapons are defective. Collaboration with financial management team of United States Military Forces is essential in the identification of disbursed amount in the account of soldiers and budgeting strategies of each military division.

Oligopoly of supply of war weapons on the United States Army results in high expenses that lead in high taxation. Flexibility of the competitive environment allows the United States military have access of quality equipment at affordable prices. Oligopoly is a big business that undermines upcoming industries towards production of war weapons and sells them to the government agencies. The military budget has contingency operations that assist in a situation of emergencies. The competitors in the military mission lack contingency operations resulting in failure of responding towards emergency war missions. Improved project management capabilities allow the United States make a definition of components and funds necessary for the operations of the military academy.

(Name)

(Instructors’ name)

(Course)

(Date)

Currency Exchange Rate

In finance and economics, the term currency exchange rate refers to the amount and rate to which one nation’s currency can be exchanged for another country’s currency (O’Sullivan and Sheffrin 1). Put simply, it is the value of a currency in comparison to that of another. Currency exchange rate is in the heart of global economy, as it assures trade between two or more countries through the realization of a return on investment for companies that operate globally. Though currency exchange rates affect trade, they are also affected and influenced by a number of things, such as the interest rates, and the balance of trade (O’Sullivan and Sheffrin 21). Currency exchange rates, just like any other components of business, are greatly dependent on the economics of demand and supply. If the demand of one currency is higher than that of another currency, then the former is likely to be of a higher value than the latter.

This paper examines the significance and differences in foreign currency exchange rates. The paper also provides an explanation of how to convert the US dollar into the euro, as well as, the procedure of converting a payroll into a prevailing currency when operating a business in a foreign currency.

Significance of the Currency Exchange Rate

As previously mentioned, currency exchange rates affect international trade, and for that reason, they are considered the heart of globalization. Accordingly, currency exchange rates are important because they regulate the level of import and export in countries (O’Sullivan and Sheffrin 4). This, in turn, determines how rich or poor a country will be in the long run. In essence, if a currency appreciates imported goods are automatically expensive in the global market and cheaper in the local market. This then means that a country will benefit from its exports, as the country’s currency rate makes it competitive in the international market.

Differences in Foreign Currency Exchange Rates

Foreign currency exchange rates differ in value, with the larger economies benefiting by having a high value in their currencies (O’Sullivan and Sheffrin 451). The differences in foreign currency exchange rates are dependent on the demand and supply of the currency. If there is a high demand for a currency, the currency will be of a higher value than when the demand is low.

Converting the US dollar into a Euro

When converting one currency to another, one must first consider the stock exchange rates of these two currencies so as to determine how much of one currency will be exchanged for another. The current exchange rate for the US dollar in relation to the euro is €0.7624 per Dollar rate or $1.3116 per Euro rate (fx-rate.net 1). For that reason, exchanging $50 would equal €38.12. Notably, the euro is of a higher value than the US dollar.

Converting Payroll

Converting payroll into foreign currency is one of the hardest tasks that businesses are faced with. Before converting the payroll, the business needs to be conversant with the requirements of the foreign country such as taxes, currency differences, pensions, as well as, social insurance contributions (Weiss 1). The process for conversion is the same as that of converting money in the bureau. If the foreign currency is higher in value than the local currency, then employees will be paid less as opposed to if the foreign currency is lower in value. The amount of money to be compensated to employees will however be dependent on the labor laws in the foreign country.

Work Cited

“Dollar to Euro Conversion Table”. fx-rate.net, 7 February 2012. Web. 7 February 2012.

<<http://fx-rate.net/USD/EUR/>>

O’Sullivan, Arthur and Steven M. Sheffrin. Economics: Principles in action. Upper Saddle

River, New Jersey: Pearson Prentice Hall. 2003. Print.

Weiss, Darryl. Opening in a Foreign Currency. globalhrnews.com, nd. Web. 7 February 2012.

<<http://www.globalhrnews.com/story.asp?sid=158>>



Finance in my life

Name

Institution

Finance in my life, Why study Finance

Why study Finance

From a micro point of view, finance is a practical application of economics. Financial system highlights how we an individual as well as an economy allocate money to the highest valued use. From the English language it’s a focus on how individuals, businesses and governments raise money essential to do business. After studying various topics in finance, it comes to light that finance assist in answering questions on corporate life and personal life. In the corporate sector finance answers questions such as how do business finance operations? And how can financial techniques improve decision making in an organization? In order to answer this questions financial studies elaborate on strategies, portfolio planning and manufacturing which are all crucial topics in the operations of most firms. In relation to personal life, financial studies mainly focus on questions relating to how individuals should invest money (Fred & Eugene, 1972).

Finance as an academic course provides a good framework to understand the key functions of finance. It also focuses of the key concepts in finance which are important in carrying out economic, accounting and business functions. To better understand these major life concepts, the course develops a baseline to introduce financial instruments and a chance to expose financial techniques. Some of these techniques include financial markets, international marketing and corporate financial tracks which are not only essential in the private sector but also crucial in trade markets. Further, finance study provides basics required for efficient payment processes required for exchange of goods and services. It also consists of major topics that assist in providing mechanisms required for economic transfer of resources. Transfer of resources affects issues such as life cycle allocation meaning that the topic provides analysis of consumption and savings which are crucial in today’s economic stability. It also brings light to various ways of efficient allocation through specialization which to allow maintenance of priority list and resource maximization. On further understanding on the topic, broader topics on strategies of pool funds for large scale project and management of uncertainty beneficial for risk bearing are better understand. With the wide knowledge that finance handles I strongly feel that the course is beneficial to my life and to the achievement of my career goals.

Application of finance

Similar to all business, we all require money. Money is essential in attaining basics like food, clothing and shelter also be also want more money to attain great things in life like big cars, computers and so on. Therefore, since money is needed by all paying close attention on how to get it can be a big plus to our lives. Finance in this case come in and assists us to get more of it, it provides knowledge on how to get it as well as how to utilize it better. (Lawrence, 2003) From a personal point of view, finance study is essential to me if I decide to earn money by opening up a business or by getting employment from another company. Because I hope to open up a business to increase my income finance skills gained from the course will assist to improve resource management skills for my business, reduce and properly handle risks. It will also provide clear understanding on the possible ways of investing and reinvesting after profits have been raised and besides provide possible ways of raising funds such as capital and expansion resources. Further, since I would also like to better my career by working in a reputable company, financial studies gained from this course and other related financial trainings. Will not only help me land a good job and maintain career development but also assist me in understanding what my senior expects of me. As a an excellent employee, financial skills will also basis of understanding every side of a transaction hence beneficial in understanding job descriptions and evaluation as well as personal transactions ( HYPERLINK “http://en.wikipedia.org/wiki/John_C._Hull” o “John C. Hull” Hull, 2000).

Further, understanding financial concepts will also assist me in other areas such as tax reduction. It is evidence that taxes take about 40 percent of an individuals’ income, therefore understanding the various ways of tax reduction will a major step to reducing the tax burden. There are several stories in the news today of successful persons who have gone broke, I strongly feel that one of the main reasons as to why this happens is making of poor investment decisions. Therefore, understanding financial concepts, techniques and expected outcomes will minimize my chance of facing major financial crisis in future. Rather than financial crisis, there are other challenges in life that are brought about by lack of proper money handling such as friendship crushes, marriage ruins, poor health over money worries and so on. Financial knowledge will provide a good basis on how to minimize these issues and also provide faster solution in case they seem to happen. Retirement planning is one of the major topics in a financial course (Glasserman, 2003). Finance argues that it is essential to invest for our retirement. Bottom line, finance trends to touch almost every stage of our lives beginning with provision of basic needs, career development, comfortable living and retirement. Therefore, study of finance is not only important because I do not want to worry about cash but also because it assists in preventing common life problems.

References

Glasserman, P. (2003). Monte Carlo methods in financial engineering. Springer-Verlag

Fred, W. and Eugene, B. (1972), Managerial Finance, Dryden Press, Hinsdale Illinois,

HYPERLINK “http://en.wikipedia.org/wiki/John_C._Hull” o “John C. Hull” Hull, J. (2000). Options, futures and other derivatives (4th ed.). Prentice Hall

Lawrence, G (2003), Principles of Managerial Finance, 10th edition, Addison-WesleyPublishing.

Finance In Public Organization City Of Maitland In Florida Factors affecting Maitland City, Florida

Population growth

Maitland is located in Florida, United States of America. It is a suburban city that recorded a population of 14,172 residents in the year 2006. The city is well known in the United States because it is the home to Enzian Theater who is an internationally recognized movie theater in central Florida. He is the only movie theater who is independent and works on full time basis. Florida Film Festival is at the centre of Maitland city therefore making the city as also the centre Art and History museums. The city is also one of the oldest in central Florida. It was named after Fort Maitland which today is known as Lake Maitland. In the early centauries’ the city was inhabited by many Native Americans. Fort Maitland was built in the year 1838 during the 2nd Indian Seminole war. The war ended and the city fell down leaving only the settlement. It is from this settlement that the name Maitland came to be born. The town has several old residences that still exist. An example of these oldest residences include: Chadburne Hall also known as High Oaks (1890), Arthur O’Heir (1885), Robert Wagner (1881), James Arch (1885), as well as the Hill stone house (1908). The climate at Maitland city has made it become one of the most famous vacation spots in America. It also has several parks that are along the lakes. These parks attract several boaters from different parts.

According to 2000 united states census, Maitland had a total of 12,019 people. This population consisted of 3,242 families and 4,825 households. Its population density according to statistics was 2,589.1 inhabitants as per square mile that is 1000.1km. The housing units were 5104 and this is at an overall average density of 1100 per square mile of 425km. When it comes to racial make up, Maitland is densely populated by white Americans composing 85%. Others are black or Africa American (10%), Native American (0.12%), Pacific Islander (0.01%), Asians (2%), other races (1%). Out of the 4,825 households in Maitland, 33% got children while under the age of 18 years. The married couples who are living together form 53% while female householders who have got no husbands make 11%. 33% are non families as 27% is made up of individual households. The households with some people above the age of 65 made up a 10%. According to U.S statistics, average household size at Maitland was 2.45 while the average of the family size is 3.01. Maitland’s age population is also spread out whereby those under the age of 18 years make 33%, age 18 years to 24 (19%), age 25 to 44 years (29%), age 45 to 64 years (24%) and 16% for those above 65 years of age, Also in every 100 females, there was 90 males while for those aged 18 years and above there was 85 males for every 100 females. The median age is 40 years.

Economic factors

The median income is $62,500 for household while $69,504 makes up median income for family. Males make $53,542 median income against females $30,256. The city’s per capita income is $37,290. According to the 2000 census, the residents of Maitland city who were living under poverty line make 6.4% of the total population. This indicates that the area is not surrounded by a lot of poverty. Maitland’s economy has been growing very fast. Today, the city’s 226 acre land is surrounded by over 400 fast growing businesses as well as several office buildings. Some of the largest firms in United States are having their headquarters at Maitland. An example of these firms is Worldwide Brands. This is a company that was started in 1999 by Chris Malta. It is a research company that deals with product sourcing. Another potential service is SunRail, a commuter company proposing to build rail station for passengers in Maitland early this year. Other largest companies that have improved Maitland’s economy include: EA Tiburon, Charles Schwab, Fidelity Integrated Financial solutions, Sonny’s Real Pit Bar and SunGard Higher education.

Maitland city is located in Orange County. According to the statistics from centers for disease and control, approximately number of 18,818 residents of Orange County died between the years of 1999 to 2001. The death rate of the county amounted to seven per one thousand residents, as compared to ten per one thousand people in the whole state. Those who died from cancer were approximately 4,355 people making a county rate of 1.6 per thousand people; this is as compared to 2.5 in the whole state. Other causes of death that were highly reported came from motor vehicle accidents. A total number of 440 people were reported to have died from road accidents contributing to county death rate of 0.2 per one thousand residents as compared to 2.5 per thousand in the whole state.

Political factors

In 2006 elections in the gubernatorial race, Charlie Christ was elected to represent Florida. He won that seat on a Republican party whereby he defeated Jim Davis of democrat party with 52 %votes. For the senate seat the Florida residents voted back Bill Nelson, a democrat. Bill defeated Katherine Harris with a large margin of 60% of the total vote. For the presidential race of the year 2004, John Kerry got 193,217 votes over George Bush who got 192,390 votes. In 2008 Florida was ranked 13th statewide in the campaign disclosure law category. Florida has got 27electoral college votes out of all the 538 Electoral College’s votes. (community, Comprehensive Annual Financial Report FY 2010 , 2010)

Religion

Maitland is in Orange County where congregational members include full members together with their children and other regular adherents who attend church services. Historically as it has been a tradition the African or black American denominations was not included in the congregation and membership totals of the year 2000. Denominational groups in the year 2000 included: evangelical protestants who make up a total population of 156,124; catholic 118,737; mainline protestant 64,591; orthodox1,860; others 19,490; unclaimed 535,532. Some of the religious bodies include American Baptist association, associate reformed Presbyterian church, Buddhism, Armenian apostolic church, Pentecostal church of God, Lutheran church, Orthodox Presbyterian church, salvation army, Wesleyan church, Evangelical covenant church etc.

Crime rate

According to 2000 statistics, total number of crimes that were reported in the county of Orange Florida was 64,096. Larcency-theft topped the list with a number of 36,515 cases followed by burglary 11,230. Other crimes included murder 59 cases, rape 421 cases, robbery 2,352 cases, and aggravated assault 6,738, and motor vehicle thefts 6,712. This data was collected by FBI and it was part of its program on uniform crime reporting. Also it does not include all the offences and arrests committed since there are other crimes committed and are not reported. It only includes the offences and arrests that were reported to the law enforcement agencies. The city of Maitland has got its own comprehensive debt management policy. This is because the governing of all municipalities may borrow money as well as contract loans and issue the bonds as according to Florida statute 166.101. Although the city does not set any kind of legal debt limit as within its policy it sets some affordable targets by all that should be followed. This includes using an objective approach that is analytical to determine whether it is able to afford assuming new debts that are beyond what it expects each year. When it comes to net outstanding debts and this is as per capita, it is less than 15%. This is per capita of personal income while its general outstanding obligation debt is always less than 1% of tax imposed on property values. In Maitland city the requirements of annual total debt service does not exceed 10%. This is in relation to operating expenditures for long term debt. The requirements also do not allow 10% of any revenue pledged for enterprise debt nor does it allow overlapping of any net general obligations.

In Maitland city public transportation makes up a 1.6% while car, truck and motorcycle transportation cover 90.5%. Those who work at home therefore not uses any means of transport make 6% while those who just walk to their places of work are 1.3%.

CITY OF MAITLAND STATEMENT OF NET ASSETS YEAR 2010 GOVERNMENTAL ACTIVITIES TOTAL

2008 2009 2010

ASSETS $ $ $ $

Cash and cash equivalents 12,894,531 15,898,290 $18,470,905 47,263,726

Investments 3,755,984 4,790,966 3,751,909 12,298,859

Restricted Assets Cash and Cash equivalents 11,870,712 9,448,364 6,776,965 28,096,041

Accounts Receivable-Net 481,486 488,657 634,460 1,604,603

Accrued Interest Receivable 47,459 28,268 21,679 97,406

Special Assessments Receivable 22,259 20,723 20,723 63,705

Due from other governments 1,203,606 727,257 691,753 2,622,616

Internal balances 0 -1,872,374 -1,837,516 -3,709,890

Prepaid items 62,857 46,137 95,162 204,156

Capital assets Non-depreciable 20,755,573 19,973,557 17,094,438 57,823,568

Depreciable-Net 24,322,644 27,916,495 32,913,676 85,152,815

Unamortized Bond issue costs 464,291 446,261 428,230 1,338,782

TOTAL ASSETS 75,881,402 77,912,601 79,062,384 232,856,387

LIABILITIES Accounts payable 1,300,385 1,728,366 909,647 3,938,398

Liabilities payable from restricted areas Accrued interest payable 303,741 301,304 298,791 903,836

Customer deposits – – –

Accrued liabilities 303,741 863,496 762,041 1,929,278

Due to other governments – – 3,419 3,419

unearned revenue 142,875 303,856 153,777 600,508

Deposits 35,783 51,463 41,463 128,707

Long term liabilities Non-depreciable 20,755,573 19,973,557 17,094,438 57,823,568

Depreciable-Net 24,322,644 27,916,495 32,913,676 85,152,815

Unamortized Bond issue costs 464,291 446,261 428,230 1,338,782

TOTAL ASSETS 75,881,402 77,912,601 79,062,384 232,856,387

LIABILITIES Accounts payable 1,300,385 1,728,366 909,647 3,938,398

Liabilities payable from restricted areas Accrued interest payable 303,741 301,304 298,791 903,836 Customer deposits – – – Accrued liabilities 303,741 863,496 762,041 1,929,278 Due to other governments – – 3,419 3,419 unearned revenue 142,875 303,856 153,777 600,508 Deposits 35,783 51,463 41,463 128,709 Long term liabilities Due within one year Bonds payable 325,000 335,000 460,000 1,120,000 Compensated absences 189,396 113,944 170,191 473,531 Due in more than one year Bonds payable 27,525,000 27,190,000 26,482,181 81,197,181 Less: Unamortized bond discount -268,688 -258,253 0 -526,941 Compensated absences 678,484 774,622 719,151 2,172,257 Other post employment benefits 2,563,333 1,546,571 4,502,071 8,611,975 TOTAL LIABILITIES 32,795,309 32,950,369 34,502,732 100,248,410 NET ASSETS Invested in Capital assets (Net) related debt 28,708,698 29,442,000 29,202,281 Restricted for: Debt service 194,628 183,408 212,387 590,423 capital projects 3,596,666 3,833,037 3,844,525 11,274,228 other purposes 152,422 196,574 963,892 1,312,888 Unrestricted 10,433,679 11,307,213 10,336,567 32,077,459 TOTAL NET ASSETS 43,086,093 44,962,232 44,559,652 132,607,977 Changes that cause concerns about the financial statement

Capital assets that are used in activities of the government are not form financial resources therefore making it hard for them to be recorded or reported in the funds.

Obligation negative net pension is not in the category of assets therefore its not reported or recorded as a funds statement although it can be reported as accruals of net assets in the financial statement. Other assets such as costs of unamortized bond issuance are used in governmental activities but they are not reported in the governmental fund.

The statement of net assets has presented data on the city’s assets as well as liabilities, sometimes increases and decreases are experienced and they serve as an important and useful indicator of improving financial position of the city as well.

The city like all other local and state governments, use fund accounting in order to demonstrate and ensure legal requirements of all finance related fields are in compliance with the law. These government funds are mostly used to effectively account for all essential functions that are reported as activities of the government. Governmental funds are also narrower compared to financial statements of the wide government.

Recommendations

Maitland city in Florida should seek optimizing return that favours investments within the different constraints of liquidity as well as safety. The investment if designed properly can improve the financial conditions of the city as well as creating positive changes of its financial statements. The management should also take measures on how to control large debts which can weaken the city’s budget therefore leading it to downfall because of financial instability. Risk management should also be given priority by management so to maintain financial stability. Risk management will help avoid law enforcement liabilities, automobile liabilities; employment practices liabilities as well as workers compensation liability.

References

Andrea J, “Maitland Community Report” (2000). United States Census Bureau. Maitland: US Gazetteer files.

Charles S, “Financial report” (2010). “Maitland: A Community For Life”.

Maitland Community, (2009). Comprehensive Annual Financial Report”, Maitland Community,finance department.

Maitland City,Florida, (2008), “Comprehensive Annual Financial Report”, Maitland Community.

Orlando Sentinel, (2006), “Journal of Maitland City”, Orange County, Florida