SSK 12 Essay Example | Topics and Well Written Essays - 1000 words

SSK 12 - Essay Example Speaking specifically of education and learning, I can once again safely say that I have a very diverse understanding and this is simply because, although the most significant years of my life were spent in Lebanon, I am Australian born and I did choose to continue my education here once I came back. So, even when it comes to education and learning, I have two very varied perspectives. My world view has touched every part of my life, especially my perspective on education and learning. In order to understand how the world view affects us we must first understand what the term signifies; Hobson puts it best when she says, â€Å"†¦ a set of beliefs that we hold and through which we organise our understanding of ourselves and our understanding of others.† (Hobson, p. 2). Try thinking of it this way: throughout our lives we collect values and experiences and place them in a box. At a later point when we come across an obstacle, event or any situation as such, we open that box and relate our past perceptions to the new situation. How we deal with the situation is directly related to how our world view has been previously shaped. It can be further described as a kind of â€Å"overreaching philosophy† that is used to construct social worlds. There is no deliberate attempt on anyone’s part to create a world view of their own liking. This is something they unconsciously learn throughout their lives (Samovar & Porter, p.103). Education and learning is thus no different; our view of this is also intertwined with world view. A person’s emotions, cultural affinity, beliefs, locality etcetera, all affect learning in some way or the other. A guide to learning independently further addresses this aspect when it talks about the concept of the self and in particular the physical and emotional self, the cultural and social self, and one’s surroundings and

Government is the monopoly of legitimate use of physical power” Essay Example for Free

Government is the monopoly of legitimate use of physical power† Essay Functions of the Ruling Officer: * Promote interest and welfare of the people * For the benefit of the governed * Protection of the inhabitants * Administration of justice * Advancement of the physical, economical, social and cultural well- being of the people * Preservation of the state from danger (internal external) Ideal Qualities of Governing Politician: * Shall have the brains and ability * Political maturity * Experience â€Å"In order to govern people he does not know or understand, he ought to possess the talent of a genius and extraordinary knowledge. † * Jose Rizal â€Å"The government who fulfils the satisfaction of human expectation is good. The Government that DOES NOT serve the needs of the people but governs to protect the interest and welfare of a few at the expense of many is not good.† * Zulueta â€Å" Government is the monopoly of legitimate use of physical power† * Max Weber * The government is committed to promote: * general welfare, * morals, * intelligence, * social justice * Ultimate happiness Rizal on the Family * Family- the basic and oldest social institution, a very important factor in shaping the character of a child. Family determines: * Child’s social class * Religious orientation * Language * Upbringing of the children Children are Expected to be: * Loyal * Obedient Parents’ Legacies to children: * Rectitude of judgement * Generosity of rights * Steadfastness in adversity â€Å" The greatest honour that a son can pay his parents is integrity and a good name.† Rizal on Livelihood * Rizal vehemently objected Carl Marx’s Communist ideology. * He regarded livelihood as the government’s focal points to alleviate poverty Communism * ideology referring to the equal distribution of wealth. * The government scoops up all the wealth and distributes them evenly or as needed. Means of having a viable livelihood program: * Equal land ownership * Regulation of capital * Government buys from landlords and place it on workers â€Å"Regulation of Capital† was essential to combat the ill effects of capitalism. Each person’s wealth is based on his own personal production. Rizal on Justice â€Å" Justice is a constant and perpetual will to allot to every man what he is due.† Twin ideals of Justice System * Swiftness- occurrence of a speedy trial * Fairness- justice itself â€Å"Justice delayed is justice denied.† No person shall be deprived of life, liberty and property without due process of law.

Impact Of Higher Level Teaching Assistant Education Essay

Impact Of Higher Level Teaching Assistant Education Essay In 2003, there has been a reform that was signed in order to reform the school workforce. Sets of National Standards were produced in order to reflect the production of Higher Level Teaching Assistants (HLTA). The main purpose of posting HLTAs is to provide a high level of classroom support to help ensure that teachers can focus on their teaching role. A HLTA post-holder will be expected to take on more involved roles in support of teaching and learning and may line manage other support staff (e.g. TAs, LSAs). The precise details of the role will be determined by the school/college. HLTAs work strictly under the direction and guidance of a teacher, within the framework of management and supervision of their school/college. Responsibility for teaching and learning remains with the teacher (and ultimately the head/principal), who will exercise their professional judgment based on what is best for pupils. The distinction between HLTAs and TAs is that HLTAs take on higher level roles than other TAs, including planning their own role within the classroom (in support of the teachers planning) and undertaking some teaching activities within an appropriate system of supervision provided by a teacher. HLTAs may line manage other support staff, including TAs. This paper shall discuss the impact made by HLTAs on teaching and learning. This shall also look into the cost being incurred by posting HLTAs as well as supply rates as opposed to covering of teaching assistants. Impact of HLTA in Teaching Practice The NfER 2007 report Deployment and impact of support staffà ¢Ã¢â€š ¬Ã‚ ¦ cited in the cwd council e-bulletin no.06 August 2007 revealed more than 90% of the senior leaders who responded believe Higher Level Teaching Assistants are having a positive effect within schools and on pupil performance. In some school localities the opportunity to use able TAs in community liaison and fund raising has been a real bonus, bringing very diverse communities closer together. Equally comments such as C. contributes to the School Improvement Plan and represents TAs and chairs TA meetings every two weeks, clearly demonstrates how the role of the TA can be moved forward to the benefit of a whole setting particularly as many settings now have a considerable number of TAs. One setting had twenty three TAs, all of whom need managing and timetabling. She (the HLTA) has a base room and allocates other TAs to specific classes, were the words from one setting. TAs also need to be kept informed of happenings and discussions within settings thus a HLTA representative at meetings has aided the ability to keep TAs informed as they cascade information. It also means that TAs do not all need to attend meetings and yet are all kept informed. This means that numbers at meetings are more manageable and it means TAs who are paid less do not need to give up more unpaid time. There is also the security of knowing that the person covering a class understands and works to the standards but there are difficulties if the HLTA is absent as there are no HLTA supplies currently and so frequently a supply teacher has to be brought in to cover the absent HLTA. In fact there is no insurance to cover the supply when covering for a HLTA. This also raises the issue of pay as the supply would earn more than the TA. There was however one school which had Level two TAs taking classes during PPA time this was questionable as neither wished to undertake HLTA but it is not known if these two had other qualifications that would make this more acceptable. Webb (2010) however argued that while teachers acknowledge the expertise of the assigned HLTAs, as well as the contribution that they are making, most of the teachers believe that their professionalism are being compromised. According to Webbs study, this is because of the HLTAs lack of teaching qualifications. Stewart (2009) shares this same argument. On his study, teachers viewed that the creation of HLTAs is a threat for their professional status. Moreover, a review of Childrens Services Scrutiny Committee was conducted in Oxfordshire County Council with regards to the impact of having support staff in classes. In summary, there have been varied response with regards to the advantages and disadvantages of such. The impact on teachers workload and morale has been positive, though many teachers report that workload continues to increase. Some head teachers, especially, suggest that many teachers have become less flexible. The impact on head teachers workload has been considerable, notably in small schools, especially where they have taken on the responsibility for the details of organization and additional teaching commitments. This has had a negative effect on morale. The impact on support staff has been extremely varied. Some, especially those training to be teachers or HLTAs have greatly welcomed the increased responsibility of leading classes. Of those teaching assistants leading classes without additional training, some enj oy the additional responsibility, but most feel that they do not have the necessary skills, expertise and experience, especially those working with older children. Support staff are often treated with less respect than teachers. Most planning takes account of the medium-term plan, but the responsibility for planning sessions varies widely. Those releasing teachers unwillingly are often concerned about the quality of lessons and sometimes about the health and safety implications. Most support staff have little or no timetabled time to prepare. Much the most common concern, even from those who welcomed the new opportunities, is that any increased levels of pay, by no means universal, in no way matches the additional responsibility. The benefits for teachers workload and morale are perceived to be mainly at the expense of head teachers and support staff who do not wish to lead classes but are doing so. Impact of HLTA in Learning The main benefits for learning are raised standards and support for the students and greater ability to monitor childrens progress. There is also greater continuity and one person questioned said, we are able to deliver sessions more effectively as they (TAs) know the expectations. The TAs also support booster groups, reading, and extends the gifted and talented, and writes reports. According to Walker (2010), there are positive impacts of HLTAs especially those assigned in mathematics and the sciences. According to the students that was interviewed in his case study, the HLTAs made it easier for them to concentrate and stay focused on their tasks; HLTAs also made them feel comfortable, confident and allows them to ask questions; and made the learning experience fun and also HLTAs have helped them to recognize the importance of the subject matter. Moreover, a review of Childrens Services Scrutiny Committee was conducted in Oxfordshire County Council with regards to the impact of having support staff in classes in terms of the students learning and progress. During PPA time, some schools continue with the usual curriculum, especially for children in the Foundation Stage and nursery schools. A changed curriculum is more usual, with PE, Art/Design Technology and a modern foreign language being the most common subjects covered by specialists. Where teaching assistants lead sessions, spelling, handwriting, guided reading and math practice were popular, with other aspects of literacy and numeracy rarely covered. ICT, PSHCE and RE were less frequently mentioned science, history and geography only occasionally. The impact on the quality of the curriculum during PPA time depends very substantially on the quality of the staff leading classes. Where these are specialist teachers or coaches, most schools thought the curriculum was enriche d. Unchallenging lessons result in lessons less well differentiated for those of different abilities. This often leads to poor behavior where staff leading a class were not well qualified and familiar with the children, especially with older children in Key Stage 2. Children who find change difficult were reported as finding a range of adults difficult, but the Review Group believes it is good for children to learn to relate to different adults, as long as this change is not too frequent. The range of the curriculum was usually thought in schools where specialists are used to have been broadened, sometimes in the subjects covered, sometimes in extending provision to a wider age range. The evidence suggests that the quality of teaching and learning has improved in the rest of the week, particularly because of improved planning and assessment. However, time for curriculum coordinators has been reduced. Though many support staff, especially, are concerned about reduced targeted support for children with special educational needs, the evidence on the overall impact on this group is not conclusive. The use of outside specialists runs the risk of reducing opportunities for cross curricular links and, unless the National Curriculum is closely followed, not providing full curriculum coverage and appropriate progression within a subject. Monitoring both at class and at whole-school level of the impact of PPA time on the curriculum has mostly been informal. Impact of HLTA in Engagement The feedback from one setting with regard to engagement was using TAs has engaged the children and given a sense of purpose. Another setting remarked that there was now very good constant contact with all the staff and children, which is clear evidence of good practice. Overall the engagement appeared to be better or what we already do or just reinforced or brilliant as one setting put it. The feedback to Have HLTAs had an impact in the workplace was generally positive, HLTAs have undertaken PPA, they have covered a range of subjects, some of the OFSTED reports have commented on the good work of the TAs and evidence was in raised standards in some subjects. They had enriched practice as a direct result of their personal and varied experience. One head-teacher even went so far as to say that experience has more of an impact than the qualification/ status, but as another head remarked an unqualified set of staff is a mums army. Generally only those HLTAs who could manage the children were given extended roles as no setting wishes to create further problems. The skills and strengths of the TA were always taken into consideration. The tracking of children had been developed in some settings. One setting said they had fewer problems as it is a familiar adult. Overall the engagement of children was very positive but the HLTA had to be competent as the classes need to see them as the teachers equal. Another setting said that children are open minded to any engaging teacher or TA, thus where the HLTA demonstrates this, the outcome is positive. Positives in Achieving HLTA A study conducted by the Derby City Local Authority have results regarding the positive advantages of having TAs in attaining HLTA. This new knowledge in turn makes the person feel more confident which in turn develops their sense of self and thus raises their own and others perception of themselves. The NfER report 2007 cited in the cwdcouncil e-bulletin no.06 August 2007 claimed that 74% of HLTAs said their status had led to increased confidence and over half cited greater job satisfaction. 73% of TAs agreed that they would recommend HLTA to other TAs clearly demonstrating a positive view of the achievement. 75% believed HLTA had opened up new opportunities for them. 92% felt HLTA was the best way forward in terms of professional development. Currently the TAs are not convinced that HLTA has helped them to progress but there is still a slight increase in those who think it has as the following demonstrates. The question did not really apply to those who had not yet achieved HLTA. 31% said HLTA had helped them to progress professionally whilst only 15% said that HLTA had not helped them to progress professionally. Overall those who had achieved HLTA were fairly positive and the results demonstrated that remodeling has had an impact but there is less clarity as to the role HLTA has played in this. 35% felt positive about achieving HLTA whilst only 4% were negative about achieving HLTA. Conclusion There was quite clearly a role in most settings for a HLTA or equivalent and this person usually had effective interpersonal skills, was good at time management and planning, they frequently had an additional skill such as art or music and as one Head teacher put it, they need to prove themselves as all employed people have to. The organisation of a setting often had an impact on the number of HLTAs or equivalents as some settings developed one TAs role whilst others split the extended role between two or more TAs. This could also reflect the number of TAs who are ready and experienced sufficiently for such a role as HLTA. Deployment of HLTAs needs to be more attractive with remuneration but once this is achieved HLTAs can make a significant contribution to the management of other TAs, to scaffolding information and representing TAs at meetings. The TAs are interested in further training with a small per cent age of TAs seeking HLTA or teaching and some TAs still requiring Key Skills. There needs to be a relevant professional development route for aspiring TAs with more recognition of the different routes. The HLTA status training needs to include a direct observation of the potential HLTA working with a large group or class as happens to all NQTs and other adults working with classes. TAs are making a considerable contribution to our schools and this research so far seems to demonstrate their distinct contribution as stated in the TDA (2006:3)HLTA Training pack but they are by their continued professional development also helping to create the World-class workforce for children, young people and families, that is the Childrens Workforce Development Councils vision. However as one TA remarked, I would not be interested in the HLTA as I feel that the work involved is far greater than the recognition and pay. This needs to be addressed if we wish to encourage TAs to embrace the changes further. Yet 75% of TAs would still recommend HLTA to other TAs. Overall, the presented literature show that in terms of HLTAs impact on teaching, there are two opposing views. Some of the teachers view that HLTAs are a threat to their profession. In spite of the contributions that HLTAs are giving, it is believed that their professionalism are being compromised because of the lack of teaching experience of HLTAs. On the other hand, other teachers reported that HLTAs have positive contributions for the improvement of their teachings quality. Many teachers still believe that the support that these HLTAs are giving helped them in reducing their workloads and stress. In terms of learning, HLTAs support has contributed in the improvement of the students understanding of the subject matter. Also, they have helped in the improvement of of the students achievement and opportunities for their personalized learning. Finally, in spite of varying opinions regarding the impact of HLTA, it is very important to note that these higher level teaching assistants are doing their best to aid the teachers. It is recommended that their skills should be monitored and upgraded periodically so that their outputs could be exceptional as well.

Caring for a Child or Young Person with Severe Illness

Caring for a Child or Young Person with Severe Illness Introduction This assignment will reflect on and critically study an incident from a clinical setting whilst using a model of reflection. This will allow me to analyse and make sense of the incident and draw conclusions relating to personal learning outcomes. The incident will be described and analysed, followed by the process of reflection using Driscolls Reflective Model (2000) as it facilitates critical thinking and in-depth reflection which will help me to accumulate learning objectives for the future. To comply with the Nursing and Midwifery Council (NMC) (2015) Code of Conduct, confidentiality will be maintained therefore the individual will be known throughout as Ben. Reflection is defined as a process of explaining and expressing from our own experiences and helps to develop and improve our skills and knowledge towards becoming professional practitioners (Jasper, 2003). I have chosen to use the Driscolls Reflective Model (2000) as a guidance as it is straightforward and encourages a clear description of the situation which will allow me to look at the experience and identify how it made me feel, asking what was good and bad, and what I can learn (Sellman and Snelling 2010). Wolverson (2000) includes this as an important process for all nurses wishing to improve their practice. What? Ben was born prematurely following an emergency caesarean section, whereby he received prolonged resuscitation and suffered severe hypoxic-ischaemic encephalopathy (HIE). According to Boxwell (2010), infants with severe encephalopathy have a 75% risk of dying with coma persisting, or progressing to brain death by 72 hours of life. There was a realisation that continuing treatment may be causing Ben harm in that it was unlikely to restore his health or relieve suffering. Boxwell (2010) further states that survivors of HIE carry an almost certain risk of poor neurological outcome. It is these times when consideration must be given to withholding and/or withdrawing treatment, subsequently re-orientating treatment to compassionate care. I was informed by my mentor that there would be a multi-disciplinary team (MDT) meeting to discuss and justify the decision to withdraw treatment. I was invited into the MDT meeting by my mentor to both witness and actively participate in the discussion if I felt confident enough. The MDT consisted of two paediatricians, a paediatric registrar, the neonatal sister, and myself, a paediatric student nurse.   The Royal College of Paediatrics and Child Health (RCPCH) (2004)   suggest that all members of the health care team need to feel part of the decision-making process in that their views should be listened to. At the time, I was hesitant to contribute due to my knowledge, understanding and experience surrounding the clinical and ethical matter. However, I was reassured that greater openness between disciplines will facilitate better understanding of individual roles and enhance the sense of responsibility (RCPCH, 2004). We considered what was legally permitted and required, but also at what was ethically appropriate. In considering quality of life (QOL)   determinations, it was important to refer back to the ethical foundation involved with surrogate decision making, which is the standard of best interest. Some professionals argued that Ben had no prior QOL on which to base a judgment. The Children Act (1989) provides an overall statutory framework for the provision of childrens welfare and services but makes no specific provision concerning withholding or withdrawing treatment (RCPCH, 2004). It does however state that the welfare of the child is paramount which is further supported by The United Nations Convention on the Rights of the Child (1989). Article 3 under this legislation states that actions affecting children must have their best interests as a primary consideration (RCPCH, 2004). The NMC (2015) framework governs the maintenance of standards of practice and professional conduct in the interests of patients, acting as a guide to ethical practice within nursing. The principle of non-maleficence is one of the hallmark principles of ethics in health care which prohibits healthcare professionals from doing any action that will result harm to the patient. Also paramount, is the goal to restore health and relieve suffering, promoting good or beneficence. In the principle of beneficence, nurses are obliged to protect, prevent harm and maintain the best interest for patients (Beauchamp Childress, 2001). Those involved needed to be conà ¯Ã‚ ¬Ã‚ dent in their ability to understand the ethical dilemmas they faced, and had to ensure they were aware of the underlying ethical principles to support their contribution to the discussion. The decision to withdraw life sustaining treatment should be made with the parents on the basis of knowledge and trust, but ultimately, the clinical team carries the responsibility for decision making, as an expression of their moral and legal duties as health care professionals. It is not uncommon for parents to feel indecisiveness, shame or guilt about the decision to palliate their neonate, particularly when the outcome of the neonates condition is uncertain (Reid et al, 2011). However, the final decision to withdraw intensive care was made with the consent from both parents, and this was clearly recorded in his clinical notes, together with a written account of the process and factors leading to the decision. So What? Parents impending the loss of their infant experience a complex emotional reaction to their situation, typically one of anticipatory grief, shock and confusion (Gardner and Dickey, 2011). They may also experience feelings of profound loss, related not only to the imminent loss of their child but also to a loss of their expectations, aspirations and role as parents (Gardner and Dickey, 2011). Parents are fundamental in the decision-making processes around neonatal palliation and as it is they who will be the most significantly affected by these decisions (Branchett and Stretton, 2012), neonatal EOL care places a particular focus on caring for parents. Developing a flexible, transparent and family-centred care plan is essential, and so that their preferences are met, parents should take a key role in this process (Williamson et al, 2008). Spence (2011) recommends that a holistic approach is taken to clarify the familys wishes, desires and needs in order to effectively advocate for infa nts. Whilst most parents wish to be involved in decisions and planning around EOL care for their baby, some may find this responsibility overwhelming (Williams et al, 2008). Despite this, we exposed the parents to a range of options which they synthesised in order to make the best decisions for their family. However, it was important for the neonatal nurse and I to realise that highly emotive situations can often cause significant deficits in parents ability to comprehend and process such information (Williams et al, 2008). As competent nurses, it is our responsibility to provide nursing care that advocates for our patients rights in life and death, showing respect and dignity towards them and the family. We advocated for Ben by protecting his rights, being attentive to his needs, ensuring comfort and protection, and by participating in the ethical discussion to ensure a collaborative perspective of ethical negotiation (Spence, 2011). The National Association of Neonatal Nurses (2015) suggests that palliative care should include comfort measures, such as kangaroo care, an ongoing assessment of pain using an appropriate pain assessment tool and written care plans to manage discomfort, pain and other distressing symptoms such as seizures using the least invasive effective route of administration. As the parents wished to be present at time of death, the neonatal nurse prepared the family for what they would observe as life-sustaining treatment was discontinued. This included informing them of gasping and other noises, colour changes, and stating that Ben may continue to breathe and have a heart rate for minutes or hours. This is an fundamental aspect of palliative care, and provides the family with the opportunity to ask questions. However, a study conducted by Ahern (2013) stated that nurses often express anxieties surrounding how to support parental grief and how to prepare them for the imminent death of their inf ant. Parental preferences were also assessed, including whom they wish present, whether they want to hold the infant, and whether they wished to participate in any rituals or memory-making activities. Although my mentor took the lead role in planning the infants EOL care, my contribution focused on memory-making activities. Although this is often nurse initiated, making memories is increasingly recognised as an aid in parental coping and grieving (Schott, Henley and Kohner, 2007). However, McGuinness, Coughlan and Power (2014) reported that rather than physical keepsakes, parents and families instead appreciated other actions and gestures that demonstrated respect for their needs, including having time alone with the infant and being encouraged and supported to provide care to their baby. I asked the parents if they would like photos to be taken, and although parents declined photography, I offered to take some to keep in the medical records in case they decided they would like them at a later date which they appreciated (Mancini et al, 2014).   Despite this, the parents were acceptant of the offer to keep items that were related to Bens care, including his wristband, blank ets and hat. Throughout planning Bens EOL care, the effectiveness of the therapeutic relationship in meeting the familys needs was achieved by showing empathy, and by doing so I obtained the individuals trust, and respect. Carl Rogers (1961) has influenced the shift from a task- to a person-centred and holistic view of nursing care, with the adoption of Rogers core conditions (Bach and Grant, 2005). Rogers identified unconditional positive regard, genuineness and empathy as necessary conditions for helping someone change effectively through a good therapeutic relationship. This was   achieved through both proficient nursing knowledge and utilising interpersonal communication skills. According to Jones (2007), there is little research in nursing literature that discusses interpersonal skills, particularly in nursing education. There is also a critique that nursing education is often removed from the realities that students experience during their clinical practice (Bach and Grant, 2005). I felt confident and assured that my interpersonal skills would bring positivity throughout a very difficult time, helping them through the grieving process. I acknowledged that both parents appreciated my forward-thinking and empathy towards the current situation. Being empathetic during this situation required my ability to be understanding not only of the parents beliefs, values and ideas but also the significance that their situation had for them and their associated feelings (Greenberg, 2007). Egan (2010) identià ¯Ã‚ ¬Ã‚ es certain non-verbal skills summarised in the acronym SOLER that can help the nurse to create the therapeutic space. I did this by sitting facing the family squarely, at a slight angle; adopting an open posture; leaning slightly forward; maintaining good eye contact, without staring and presenting a relaxed open posture. To enhance the communication through these skills, I used active-listening skills to ensure a successful interaction through techniques that facilitated the discussion. I did this by using sounds of encouragement, demonstrating that I was listening and assimilating the information provided by the parents. This was also done by summarising, paraphrasing and reflecting on the feelings and statements. Effective use of reà ¯Ã‚ ¬Ã¢â‚¬Å¡ective skills can facilitate exploration, build trust, and communicate acceptance and understanding to the individual (Balzer-Riley, 2004). Geldard and Geldard (2005) state that it is often the paralinguistic elements of speech rather than what is actually said that betray true feelings and emotions. Now What? As EOL approached, Ben was extubated on the neonatal unit and transferred to the bereavement suite whereby my mentor continued to provide one-to-one care.   I was not present throughout the final palliative care phase as I wanted to respect the familys privacy. At this point, I held emotions of helplessness, sadness and anxiety, therefore I took some time to reflect on what had happened. It is important that nurses recognise and confront their own feelings toward death so that they can assist patients and families in EOL issues (Dickinson, 2007). Nurses often experience sadness and grief when dealing with the deaths of patients, and without any support, can suffer distress (Hanna and Romana, 2007). Debriefing is a beneficial intervention designed to help nurses to explore and process their experiences. Irving and Long (2001) suggest that debriefing demonstrates a significant reduction in stress and greater use of coping strategies through discussion in a reminiscent fashion to let their feelings out. Through reflection, I have come to the realisation and understanding that patient death is an integral part of nursing practice in palliative care settings. I have recognised that support from all members of the MDT have positive implications for nursing students coping with stressors associated with patient death. Furthermore, the experience helped me learn the importance of both verbal and non-verbal communication. As an aspiring nurse, I have to continuously improve my communication skills because I shall be interacting with more varied patients in the future. I have also been able to utilise my knowledge of ethical principles in relation to withdrawing treatment, thereby integrating theory into practice. Conclusion To conclude, the care that patients receive has the direct potential to improve through reflective practice. Becoming a reflective practitioner will help me to focus upon knowledge, skill and behaviours that I will need to develop for effective clinical practice. Reflection helps to make sense of complicated and difficult situations, a medium to learn from experiences and therefore improve performance and patient care. Reference List Ahern, K. (2013) What neonatal intensive care nurses need to know about neonatal palliative care. Advanced Journal of Neonatal Care. 13(2), pp. 108-14 Bach, S. and Grant, A. (2005) Communication and Interpersonal Skills for Nurses. Exeter: Learning Matters Balzer-Riley, J. (2004) Communication in Nursing. Mosby, MO: Mosby/Elsevier. Boxwell, G. (2010) Neonatal Intensive Care Nursing. 2nd Edition. New York: Routledge Branchett, K. and Stretton, J. (2012), Neonatal palliative and end of life care: What parents want from professionals, Journal of Neonatal Nursing. 18(2), pp. 40-44. Dickenson, G. E. (2007). End of life and palliative care issues in medical and nursing schools. Death Studies, 31, pp. 713-726. Driscoll, J. (2000) Practising Clinical Supervision. London: Balliere Tindall Egan, G. (2010) The Skilled Helper: A problem management and opportunity development approah to helping.9th edition. Pacific Grove, CA: Brooks/Cole. Geldard, D. and Geldard, K. (2005) Practical Counselling Skills: An Integrative Approach. Basingstoke: Palgrave Macmillan Greenberg, L.S. (2002) Emotion-focused therapy: Coaching clients to work through feelings Washington, D.C: American Psychological Association Hanna, D.R. and Romana, M. (2007). Debriefing after a crisis. Nursing Management. 8, pp. 39-47. Irving, P. and Long, A. (2001). Critical incident stress debriefing following traumatic life experiences. Journal of Psychiatric and Mental Health Nursing. 8, pp. 307-314. Jasper M (2003). Beginning reflective practice. Cheltenham: Nelson Thornes Mancini, A., Uthaya, S., Beardsley, C., Wood, D. and Modi, N (2014) Practical guidance for the management of palliative care on neonatal unit. London: Royal College of Paediatrics and Child Health McGuniess, D., Coughlan, B. and Power, S. (2014) Empty arms: supporting bereaved mothers during the immediate postnatal period. British Journal of Midwifery. 22(4), pp. 146-52. National Association of Neonatal Nurses (2015) Palliative and End-of-life Care for Newborns and Infants. Chicago: National Association of Neonatal Nurses Nursing and Midwifery Council (NMC) (2015). The Code: professional standards of practice and behaviour for nurses and midwives. London: NMC Reid, S., Bredemeyer, S., van den Berg, C., Cresp, T., Martin, T., Miara, N., Coombs, S., Heaton, M., Pussell, K., and Wooderson, S. (2011) Palliative care in the neonatal nursery. Neonatal, Paediatric Child Health Nursing. 14(2), pp. 2-8 Royal College of Paediatrics and Child Health (2004) Withholding or Withdrawing Life Sustaining Treatment in Children: A Framework for Practice. London: Royal College of Paediatrics and Child Health Schott, J., Henley, A. and Kohner, N. (2007) Pregnancy loss and the death of a baby: guidelines for professionals. 3rd Edition. London: SANDS Sellman, D. and Snelling, P.C. (2010) Becoming a nurse: A textbook for professional practice. Harlow: Pearson Education Spence, K. (2011) Ethical advocacy based on caring: A model for neonatal and paediatric nurses. Journal of Paediatrics and Child Health. 47, pp. 642-645 Williams, C., Munson, D., Zupancic, J. and Kirpalani, H. (2008) Supporting bereaved parents: Practical steps in providing compassionate perinatal and neonatal end-of-life care. Seminars in Fetal and Neonatal Medicine. 13(5), pp. 335-340. Wolverson, M. (2000). On reflection. Professional Practice. 3(2), pp. 31-34

Value of an Education Essay -- Education School College

Value of an Education In today's society education is really important. Education has evolved a lot over time and has shaped American society. Back in the day, education was not as important because many jobs did not have educational requirements. In those days you could have a high school diploma and get a good job. Today, if you only have a high school diploma the types of jobs that you can get include fast food restaurants or maybe construction work. Getting your college degree is very essential to your economic success and your ability to get a good job that pays well. Prior to entering college in the fall, I felt that college would be very challenging for me because of what my friends that were already attending college told me. I feel that high school as a whole does not prepare you for work at the college level. Many people in high school study very little or they might not study at all and they can still maintain an A average. At the college level you can not study very little and expect to get the same results. If high school better prepared students for college there would be more college students making it to their sophomore years of college instead of dropping out. Another big difference between high school and college is the fact that there is so much freedom in college. In high school you are on such a tight leash that you are forced to do things that you aren't forced to do in college. For example, in high school, if you don't go to class, your parents will be notified. In college, you're on your own and you need to make the decision t o go class as scheduled. I think that this is one of the main reasons why students flunk out of college. Many students at the age of 18 and 19 see that most classes don't take ... ...education very highly, so it is fitting that the University of Kentucky do the same. Values teach us that we can reach as high as we can, rather than cutting ourselves short. The University offers highest standards of achievement which enable students to realize their full potential. I believe that the University of Kentucky is a good school that supports every student to be the best they can be. " A school that operates with a set of values that ensures a common and consistent code of respectful and responsible behavior makes a significant difference. Students learn far better when they are a part of a school that consciously applies values education policies, behavior strategies and teaching programs that employs trained teachers who can discuss values issues in all areas of the curriculum." Lawley, Judy. Living Values. Values Education, 2003

Nikola Tesla Essay -- essays papers

Nikola Tesla My great grandmother was born on September 30, 1895 in Strum, Wisconsin, and used to tell us the most important invention for the home, in her lifetime, was the clothes washing machine. Now history always seems to make the present era seem more civilized, when in fact, it is probably only cleaner, thanks to my grandmother's favorite invention. But, I wonder if it is easier. Certainly, there were many patents issued in the 1880's for inventions that truly would change the lives of future generations, and a handful of these amazing contrivances would have a great impact on that which is truly important to an industrialized nation: the machinery that speeds business, business being the true backbone of a country, but to a country girl whose family depended on farming, the clothes washing machine still stands out as the one that saved her the most time. So this essay will delve into the era of the 1880's and focus on one of the most important inventors that ever lived, Nikola Tesla. Many business machines were patented before Nikola Tesla patented the alternating-current "electromagnetic motor" in 1888 (while the popular Thomas Edison was stubbornly clinging to direct-current motors), but soon more and more inventors were realizing this new source of harnessed power could bring glorious miracles to business, thus providing them with even more glorious profits. But first, the washing machine, truly in honor of my great grandmother, who will be 105 years old this year. Before the days of washing machines, people got dirt out of their clothes by pounding them on rocks and washing the dirt away in streams. Sand was used as an abrasive to free the dirt. Soap was discovered at Rome's Sapo Hill where ashes containing the fat of sacrificial animals were found to have good cleaning powers. The earliest washing "machine" - the scrub board - was invented in 1797. In 1874 William Blackstone, a Bluffton, Indiana merchant and manufacturer of corn planters, built a birthday present for his wife. It was a machine that removed and washed away dirt from clothes. It consisted of a wooden tub in which there was a flat piece of wood containing six small wooden pegs. The inner mechanism looked something like a small milking stool. It was moved back and forth by means of a handle and an arrangement of gears. Dirty clothes were snagged on the wooden pegs an... ...ed to place his untested theories into countless notebooks. The man who invented the modern world died nearly penniless at age 86 on January 7, 1943. More than two thousand people attended his funeral. In his lifetime, Tesla received over 800 different patents. He probably would have exceeded Edison's record number if he wasn't always broke - he could afford very few patent applications during the last thirty years of his life. Unlike Edison, Tesla was an original thinker whose ideas typically had no precedent in science. Unfortunately, the world does not financially reward people of Tesla's originality. We only award those that take these concepts and turn them into a refined, useful product. Bibliography: Cheney, Margaret, Tesla: Man Out of Time (Dell Publishing, 1981) Tesla, N., Electrical Experiment (1919) Tesla, N., The Strange Life of Nikola Tesla (unknown publishing date or place used) Book actually red on web page:www.neuronet.pitt.edu/~biodam/tesla/tesla.pdf www.neuronet.pitt.edu/~bogdam/tesla/bio.thm www.neuronet.pitt.edu/~bogdam/tesla/chicago.htm www.neuronet.pitt.edu/~bogdam//tesla/niagara.htm www.neuronet.pitt.edu/~biodam/tesla/tesla.pdf

Dell Hbr Case Study

INTRODUCTION Dell Computers was started by Michael Dell in 1984. Dell’s primary differentiator was its business model. It sold primarily on the B2C market and custom built personal computers on demand. Therefore, it had very low inventory by comparison to its competitors. As a result of this, Dell was able to operate quite efficiently and profitably in its niche market. By the late 1980’s – early 1990’s, Dell noticed that its market share was only 1% of total and that industry amalgamations could potentially force Dell out of the market.It was time to make a decision; it could remain status quo or pursue an aggressive growth strategy. The latter option proved to be favourable and Dell expanded into the B2B marketplace through a growth plan that focused on selling to retailers to improve its market share. The plan worked and Dell saw subsequent revenue increases of 268% within two years, compared to industry growth of 5%. 1 The good times came to an end in 1993 when Dell posted its first loss after eleven subsequent quarters of profit. Dell decided to more efficiently manage its liquidity, profitability and growth and was exited the indirect retail channel where margins were exceptionally low . The retail channel had served its purpose, however, in assisting Dell as a brand to become well known throughout the market place. Following these measures, and the fact that Dell had exceptionally low relative inventory, they were able to become the first company to launch the new Pentium chip computers and maintain first mover status with subsequent upgrades.Michael Dell was now in a position to forecast future growth for his company. STATEMENT OF PROBLEM Michael Dell predicted that the company’s growth rate for the next year would again outpace the industry. Dell needed to focus on how its working capital policy could assist in financing future growth. Further, what other internal and external financing options might assist Dell in re aching their goals? RECOMMENDATION Assuming Dell’s sales will grow at 50% in 1997, h ow would you recommend that the company fund this growth?How much capital would need to be reduced and/or profit margin increased if the company were to fund its growth by relying only on internal sources of capital? What steps would you recommend the company take? Dells attempt to increase its sales by 50% in 1997 will require 2 major types of investments: Investment in working capital We estimate this figure to be $345M (please refer to Exhibit 1 for the detailed calculation). Investment in fixed assets Expansion of production will most likely require the purchase of the additional equipment.There is no data available in the case on depreciation expenses or capital expenditures made by Dell in 1996 to support the 52% growth of sales. However, if we refer to Dell’s full financial statements for 1996, we see that Dell spent $100M on capital expenditures and we assume it will spend appr oximately the same amount in 1997. 1 2 Richard Ruback, â€Å"Dell’s Working Capital,† Harvard Business Review 9-201-029 (2003): 3. Ibid 1|P a ge EDHEC MBA – Dell Business Case From the projected figures in the Exhibit 1 we conclude that Dell will be able to finance the above investments using the following funding sources:Profit margins and management of the working capital cycle Assuming that there is a certain percentage of fixed costs in Dell’s cost structure, the company will be able to increase its net profit margin from 5. 1% in 1996 to 5. 6% in 1997, generating a net profit of $448M. Net margin should be sufficient to cover additional working capital of $345 M if Dell is able to maintain its Cash Conversion Cycle (CCC) at 1996 levels of 47 days. Maintaining the CCC at the same level is crucial for this type of financing to be sufficient.An increase in DSO by 5 days will increase working capital delta up to $453M (refer to Exhibit 2) and will force Dell to increase margins, which may reduce revenues, or look for other sources of funding. Debt or use of the short term investment funds The use of these resources might be necessary for the financing the purchase of the equipment to expand the production capacity. Two scenarios could take place: 1. A one-off investment is required to be made in the beginning of the year.Since the company will have no possibility to generate profits or free up its working capital, it could either liquidate some of its short term investments of $591M or get a loan. The decision will depend on whether the rate of return on investment is higher or lower than the interest rate on the loan, taking after tax effects into consideration. If the rate of return is higher, Dell should finance the purchase of fixed assets through the loan, if it is lower , it should use its investment account to finance the capital expenditure. 2. Gradual investment in capital expenditure is possible.This could be done only by using margins generated within the year and decrease in CCC by managing receivables-days cycle. If the company can manage to decrease its DSO days from 50 to 40 days, it can reduce its working capital delta to $126M (Exhibit 2), thus making the remaining net profit available for capital expenditures. How, if at all, would your answers to Question 3 chang e if Dell also repurchased $500 million of common stock in 1997 and repaid its long-term debt? If Dell decides to repay its debt of $113M and repurchase stock of $500M, the following steps could be undertaken.Stock repurchase A decrease in DSO by 10 days and increase in DPO by 10 days will release working capital of $44M in addition to cash profit based on $448M in accounting profit (most likely it is higher by the amount of depreciation). These cash amounts will then allow Dell to repurchase its stock. As Dell expands its customer base and brand penetration in the market it can start working with prepayment for its orders which wi ll help to collect the cash faster. Further, as the size of its orders to suppliers grows, it will be able to exercise its buyer power and negotiate more favourable payment terms.However the following action should be taken only if Dell shareholders could earn better return at a similar level of risk in the market. In the current situation it seems that Dell performs better than its competitors thus it would be more appropriate to invest the $500Mof free cash in further expansion. Debt repayment If Dell increases its margin up to 6. 8% it will be able to make an additional $110M in net profit to repay the debt. Another option is to free up some funds from short term investments. The decision will depend 2|P a ge EDHEC MBA – Dell Business Case on whether increase in price will lead to a significant loss of customers.If this is the case, the company should use its current cash reserves to perform the repayment. We also note, that 0% debt in the capital structure is most likely to be not optimal for the company and by using leverage Dell will be able generate better returns for its investors. DISCUSSION Explain how Dell’s working capital policy is a competitive advantage for the company? Strategy Built-to-Order Just-In-Time Delivery Distribution Channels (Retail Stores) Early Adoption of New Technology DELL ? ? X ? Apple X X ? X Compaq X X ? X IBM X X ? X Built to Order: Unit production only begins after receiving customer orders over phone or via email.This significantly reduced the outstanding inventory and hence reduced working capital requirements for funding inventory warehousing and inventory financing. Just-in-time Delivery: Dell’s factory had close physical proximity to its suppliers. Suppliers would ship parts only after customers placed orders, for just-in-time delivery. This helped to maintain accounts payable to a minimum. No Retail Distribution Channels: Since orders were only taken via email or phone, Dell was able to cut down o n the costs of maintaining distribution channels and reduce accounts receivable from distributors and retailers.This reduced working capital requirements. Early Adoption of New Technology: Low inventory levels helped Dell to quickly switch to newer product upgrades and reduce the cost of existing inventory turnovers compared to competitors. This further reduced working capital requirements. DSI Advantage: As a result of above strategies, Dell achieved an average DSI of 40 between 1993 and 1995, compared to Apple’s 64, Compaq’s 68 & IBM’s 56. How did Dell fund its 52% growth in 1996?Please be sure to distinguish between internal and external sources of funding, and to discuss the trade -off between the use of external funds in order to maintain high growth rates. The 52% growth was a result of the new Pentium chip introduction (Exhibit 3 from the case). Regarding working capital management, we noticed from Exhibit 2 from the case, excellent performance in maintai ning CCC at 40 days; while product switches required double stock management. As the Pentium introduction was already launched in 1995, we assume that growth was constant and continuous during 1996 period.Compared to 1995, the 1996 financial performance for gross margin is lower by 1%, but net profit has increased by 1%. 3|P a ge EDHEC MBA – Dell Business Case To improve the availability of cash, Dell can implement factoring on receivables (internal) or negotiate with banks for short term credit lines and overdraft accounts (external). Even if CCC remains constant during this period of growth, balance sheets analysis shows that CCC changed from $428M in 1995 to $689M in 1996. As the debt level remained constant during these two periods, this extra $261M was financed with internal funds.The two main sources of internal funds used to finance working capital and CAPEX (not detailed in case information) were: The $272M 1996 net profit and the capital increase at $74M (total stock value difference between 1995 and 1996). Even if Dell decided to not reduce its amount of debt, this process will allow the company to reduce the Debt/Equity ratio keeping constant level of debt while significantly increasing equity. This strategy will bring Dell more flexibility for the future.The firm will be able to consider different options for future growth; either the same strategy the issuance of more debt due to their low leverage being relatively unleveraged. 4|P a ge EDHEC MBA – Dell Business Case APPENDIX Exhibit 1 Projected Income statement and balance sheet items for the year 1997 Item Sales Cost of sales Gross Margin Operating expenses Operating income Financing and other income Income taxes 30% Net profit 1996 (actual) 5 296 4 229 1 067 690 377 6 111 272 Growth Coefficient 1,5 1,5 1,4 1997 (projected) 7 944 6 344 1 601 966 635 6 192 448 Ratios : 37 1 37 DSI 50 1 50DSO 40 1 40 DPO 47 1 47 CCC Balance sheet items : 429 644 Inventory 726 1 089 Accounts receivabl e 466 699 Accounts payable 689 1 034 Working Capital 345 Additional working capital required Projections for the year 1997 were built based on the following assumptions: 1. Growth coefficient of 1,5 was applied to income sales and cost of sales to reflec t the projected 50% growth in operations 2. Growth coefficient of 1,4 was applied to operating expenses. The assumption was made that part of operating expenses are presented by fixed costs thus they don’t grow at the operations growth ration. 0% rate was taken based on the year 1996 increase. 3. Income taxes were calculated using 30% rate being the rate on income tax in 1996 (calculated as Income taxes/(Operating income + Financing income)) 4. Ratios for the year 199 were calculated using the following formulas: DSI=Inventory*365/COS DSO=Accounts Receivable*365/Sales DPO=Accounts Payable*365/COS 5. We assumed that company will maintain the average ratios for the year 1997 6. Using the reverse formula for ratios calculations we derived accounts receivable, accounts payable and inventory for 1999 from the projected sales and COS figures. . We calculated Working Capital for both years using the formula: Inventory + Accounts receivable – Accounts payable 8. Additional working capital required: Working capital 1997 – Working Capital 1996 5|P a ge EDHEC MBA – Dell Business Case Exhibit 2 Variations in working capital requirements 37 50 40 47 37 55 40 52 37 40 40 37 -10 days on DSO; + 10 days in DPO 37 40 50 27 Inventory, $mln Accounts receivable, $mln Accounts payable, $mln 644 1 088 699 643 1 197 695 643 871 695 643 871 869 Working Capital 1997, $mln Working Capital 1996, $mln 1 033 689 1 145 689 818 689 645 689 344 456 129 -44 ItemDSI, days DSO, days DPO, days CCC, days Additional working capital required, $mln Ratios at 1996 level +5 days in DSO -10 days in DSO Exhibit 3: Detailed calculations relative to question N °2 6|P a ge EDHEC MBA – Dell Business Case 1 – CCC wo rth calculation: (see figures in red rectangle) CCC = DSI + DSO – DPO From above table, CCC = inventories + Accounts receivables – Accounts payable CCC1995 = 293 + 538 – 403 = 428 M$ CCC1996 = 429 + 726 – 466 = 689 M$ 2 – Total stocks value: (see figures in blue rectangle) Total value = Preferred stocks + Common stocks 1995 = 362 M$ 1996 = 436 M$ 7|P a ge Dell Hbr Case Study INTRODUCTION Dell Computers was started by Michael Dell in 1984. Dell’s primary differentiator was its business model. It sold primarily on the B2C market and custom built personal computers on demand. Therefore, it had very low inventory by comparison to its competitors. As a result of this, Dell was able to operate quite efficiently and profitably in its niche market. By the late 1980’s – early 1990’s, Dell noticed that its market share was only 1% of total and that industry amalgamations could potentially force Dell out of the market.It was time to make a decision; it could remain status quo or pursue an aggressive growth strategy. The latter option proved to be favourable and Dell expanded into the B2B marketplace through a growth plan that focused on selling to retailers to improve its market share. The plan worked and Dell saw subsequent revenue increases of 268% within two years, compared to industry growth of 5%. 1 The good times came to an end in 1993 when Dell posted its first loss after eleven subsequent quarters of profit. Dell decided to more efficiently manage its liquidity, profitability and growth and was exited the indirect retail channel where margins were exceptionally low . The retail channel had served its purpose, however, in assisting Dell as a brand to become well known throughout the market place. Following these measures, and the fact that Dell had exceptionally low relative inventory, they were able to become the first company to launch the new Pentium chip computers and maintain first mover status with subsequent upgrades.Michael Dell was now in a position to forecast future growth for his company. STATEMENT OF PROBLEM Michael Dell predicted that the company’s growth rate for the next year would again outpace the industry. Dell needed to focus on how its working capital policy could assist in financing future growth. Further, what other internal and external financing options might assist Dell in re aching their goals? RECOMMENDATION Assuming Dell’s sales will grow at 50% in 1997, h ow would you recommend that the company fund this growth?How much capital would need to be reduced and/or profit margin increased if the company were to fund its growth by relying only on internal sources of capital? What steps would you recommend the company take? Dells attempt to increase its sales by 50% in 1997 will require 2 major types of investments: Investment in working capital We estimate this figure to be $345M (please refer to Exhibit 1 for the detailed calculation). Investment in fixed assets Expansion of production will most likely require the purchase of the additional equipment.There is no data available in the case on depreciation expenses or capital expenditures made by Dell in 1996 to support the 52% growth of sales. However, if we refer to Dell’s full financial statements for 1996, we see that Dell spent $100M on capital expenditures and we assume it will spend appr oximately the same amount in 1997. 1 2 Richard Ruback, â€Å"Dell’s Working Capital,† Harvard Business Review 9-201-029 (2003): 3. Ibid 1|P a ge EDHEC MBA – Dell Business Case From the projected figures in the Exhibit 1 we conclude that Dell will be able to finance the above investments using the following funding sources:Profit margins and management of the working capital cycle Assuming that there is a certain percentage of fixed costs in Dell’s cost structure, the company will be able to increase its net profit margin from 5. 1% in 1996 to 5. 6% in 1997, generating a net profit of $448M. Net margin should be sufficient to cover additional working capital of $345 M if Dell is able to maintain its Cash Conversion Cycle (CCC) at 1996 levels of 47 days. Maintaining the CCC at the same level is crucial for this type of financing to be sufficient.An increase in DSO by 5 days will increase working capital delta up to $453M (refer to Exhibit 2) and will force Dell to increase margins, which may reduce revenues, or look for other sources of funding. Debt or use of the short term investment funds The use of these resources might be necessary for the financing the purchase of the equipment to expand the production capacity. Two scenarios could take place: 1. A one-off investment is required to be made in the beginning of the year.Since the company will have no possibility to generate profits or free up its working capital, it could either liquidate some of its short term investments of $591M or get a loan. The decision will depend on whether the rate of return on investment is higher or lower than the interest rate on the loan, taking after tax effects into consideration. If the rate of return is higher, Dell should finance the purchase of fixed assets through the loan, if it is lower , it should use its investment account to finance the capital expenditure. 2. Gradual investment in capital expenditure is possible.This could be done only by using margins generated within the year and decrease in CCC by managing receivables-days cycle. If the company can manage to decrease its DSO days from 50 to 40 days, it can reduce its working capital delta to $126M (Exhibit 2), thus making the remaining net profit available for capital expenditures. How, if at all, would your answers to Question 3 chang e if Dell also repurchased $500 million of common stock in 1997 and repaid its long-term debt? If Dell decides to repay its debt of $113M and repurchase stock of $500M, the following steps could be undertaken.Stock repurchase A decrease in DSO by 10 days and increase in DPO by 10 days will release working capital of $44M in addition to cash profit based on $448M in accounting profit (most likely it is higher by the amount of depreciation). These cash amounts will then allow Dell to repurchase its stock. As Dell expands its customer base and brand penetration in the market it can start working with prepayment for its orders which wi ll help to collect the cash faster. Further, as the size of its orders to suppliers grows, it will be able to exercise its buyer power and negotiate more favourable payment terms.However the following action should be taken only if Dell shareholders could earn better return at a similar level of risk in the market. In the current situation it seems that Dell performs better than its competitors thus it would be more appropriate to invest the $500Mof free cash in further expansion. Debt repayment If Dell increases its margin up to 6. 8% it will be able to make an additional $110M in net profit to repay the debt. Another option is to free up some funds from short term investments. The decision will depend 2|P a ge EDHEC MBA – Dell Business Case on whether increase in price will lead to a significant loss of customers.If this is the case, the company should use its current cash reserves to perform the repayment. We also note, that 0% debt in the capital structure is most likely to be not optimal for the company and by using leverage Dell will be able generate better returns for its investors. DISCUSSION Explain how Dell’s working capital policy is a competitive advantage for the company? Strategy Built-to-Order Just-In-Time Delivery Distribution Channels (Retail Stores) Early Adoption of New Technology DELL ? ? X ? Apple X X ? X Compaq X X ? X IBM X X ? X Built to Order: Unit production only begins after receiving customer orders over phone or via email.This significantly reduced the outstanding inventory and hence reduced working capital requirements for funding inventory warehousing and inventory financing. Just-in-time Delivery: Dell’s factory had close physical proximity to its suppliers. Suppliers would ship parts only after customers placed orders, for just-in-time delivery. This helped to maintain accounts payable to a minimum. No Retail Distribution Channels: Since orders were only taken via email or phone, Dell was able to cut down o n the costs of maintaining distribution channels and reduce accounts receivable from distributors and retailers.This reduced working capital requirements. Early Adoption of New Technology: Low inventory levels helped Dell to quickly switch to newer product upgrades and reduce the cost of existing inventory turnovers compared to competitors. This further reduced working capital requirements. DSI Advantage: As a result of above strategies, Dell achieved an average DSI of 40 between 1993 and 1995, compared to Apple’s 64, Compaq’s 68 & IBM’s 56. How did Dell fund its 52% growth in 1996?Please be sure to distinguish between internal and external sources of funding, and to discuss the trade -off between the use of external funds in order to maintain high growth rates. The 52% growth was a result of the new Pentium chip introduction (Exhibit 3 from the case). Regarding working capital management, we noticed from Exhibit 2 from the case, excellent performance in maintai ning CCC at 40 days; while product switches required double stock management. As the Pentium introduction was already launched in 1995, we assume that growth was constant and continuous during 1996 period.Compared to 1995, the 1996 financial performance for gross margin is lower by 1%, but net profit has increased by 1%. 3|P a ge EDHEC MBA – Dell Business Case To improve the availability of cash, Dell can implement factoring on receivables (internal) or negotiate with banks for short term credit lines and overdraft accounts (external). Even if CCC remains constant during this period of growth, balance sheets analysis shows that CCC changed from $428M in 1995 to $689M in 1996. As the debt level remained constant during these two periods, this extra $261M was financed with internal funds.The two main sources of internal funds used to finance working capital and CAPEX (not detailed in case information) were: The $272M 1996 net profit and the capital increase at $74M (total stock value difference between 1995 and 1996). Even if Dell decided to not reduce its amount of debt, this process will allow the company to reduce the Debt/Equity ratio keeping constant level of debt while significantly increasing equity. This strategy will bring Dell more flexibility for the future.The firm will be able to consider different options for future growth; either the same strategy the issuance of more debt due to their low leverage being relatively unleveraged. 4|P a ge EDHEC MBA – Dell Business Case APPENDIX Exhibit 1 Projected Income statement and balance sheet items for the year 1997 Item Sales Cost of sales Gross Margin Operating expenses Operating income Financing and other income Income taxes 30% Net profit 1996 (actual) 5 296 4 229 1 067 690 377 6 111 272 Growth Coefficient 1,5 1,5 1,4 1997 (projected) 7 944 6 344 1 601 966 635 6 192 448 Ratios : 37 1 37 DSI 50 1 50DSO 40 1 40 DPO 47 1 47 CCC Balance sheet items : 429 644 Inventory 726 1 089 Accounts receivabl e 466 699 Accounts payable 689 1 034 Working Capital 345 Additional working capital required Projections for the year 1997 were built based on the following assumptions: 1. Growth coefficient of 1,5 was applied to income sales and cost of sales to reflec t the projected 50% growth in operations 2. Growth coefficient of 1,4 was applied to operating expenses. The assumption was made that part of operating expenses are presented by fixed costs thus they don’t grow at the operations growth ration. 0% rate was taken based on the year 1996 increase. 3. Income taxes were calculated using 30% rate being the rate on income tax in 1996 (calculated as Income taxes/(Operating income + Financing income)) 4. Ratios for the year 199 were calculated using the following formulas: DSI=Inventory*365/COS DSO=Accounts Receivable*365/Sales DPO=Accounts Payable*365/COS 5. We assumed that company will maintain the average ratios for the year 1997 6. Using the reverse formula for ratios calculations we derived accounts receivable, accounts payable and inventory for 1999 from the projected sales and COS figures. . We calculated Working Capital for both years using the formula: Inventory + Accounts receivable – Accounts payable 8. Additional working capital required: Working capital 1997 – Working Capital 1996 5|P a ge EDHEC MBA – Dell Business Case Exhibit 2 Variations in working capital requirements 37 50 40 47 37 55 40 52 37 40 40 37 -10 days on DSO; + 10 days in DPO 37 40 50 27 Inventory, $mln Accounts receivable, $mln Accounts payable, $mln 644 1 088 699 643 1 197 695 643 871 695 643 871 869 Working Capital 1997, $mln Working Capital 1996, $mln 1 033 689 1 145 689 818 689 645 689 344 456 129 -44 ItemDSI, days DSO, days DPO, days CCC, days Additional working capital required, $mln Ratios at 1996 level +5 days in DSO -10 days in DSO Exhibit 3: Detailed calculations relative to question N °2 6|P a ge EDHEC MBA – Dell Business Case 1 – CCC wo rth calculation: (see figures in red rectangle) CCC = DSI + DSO – DPO From above table, CCC = inventories + Accounts receivables – Accounts payable CCC1995 = 293 + 538 – 403 = 428 M$ CCC1996 = 429 + 726 – 466 = 689 M$ 2 – Total stocks value: (see figures in blue rectangle) Total value = Preferred stocks + Common stocks 1995 = 362 M$ 1996 = 436 M$ 7|P a ge