Competition Bike Incs Essay Example for Free

Competition Bike Incs Essay Horizontal analysis compares a company’s performance from year to year. I will be reviewing Competition Bikes Inc(CBI) balance sheets and income statements. During CBI year 6, 7 and 8 I have found their net sales , cost of goods to be fluctuating, and few various other items. The net sales from year 6 to 7 increase 33.34 %. The cost of goods from year 6 to 7 was 31.82 %. The gross profit increase 30.89. Comparing year 6 and 7 I found that year 7 improved, but when I compared year 7 to 8 the results were not good for year 8. The company had experienced a 15 percent reduction in net sales. Cost of goods drops 14.8 % from year 7 to 8. Advertising Expenses CBI advertising expenses increased by 37.5 % from year 6 to 7. CBI made a great investment from year 6 to 7 because the net sales increase at a higher rate the increased advertising cost. CBI reduced their advertising expenses by 16.3 % from year 7 to 8. I believed this was done because of the fragile economy. Many companies are trying to make cuts back during a weak economy. These reduces expenses will hold them over until the economy becomes stronger. Website/Sales The website creation and maintenance expenses during year 6, 7 and 8 stayed the same price. Sales commission increase 33.371 % during year 7 from the previous year. Sales commission decrease by 15 % the following year (8). Distribution Network The Distribution network expenses had a positive increased in year 7 by33.3 % jump from the previous year. Distribution expenses are normally supposed to maintain similar numbers, but when you have an increase in sales it is acceptable to increase the distribution expenses. Distribution network expenses decreased 15 percent in year 8. This was caused due to less revenue. Transportation CBI had 33% transportation increase from year 6 to 7. This was caused CBI had more products sold and required more products to be shipped. CBI saw 15 % transportation decrease from year 7 to 8. CBI had less products sold and this caused transportation to decrease in year 8. Administrative Expenses from year 6 to 7 saw 21.43% increase. Administrative Expenses maintain the same expenses from year 7 to 8. Executive expenses increased 29.42 % from year 6 to 7. Year 7 and 8 maintain the same level of expenses. Employment taxes rose by 25.81 % increase from year 6 to 7. Year 7 and 8 maintain the same level of employment of expenses. Administrative expenses are expected due to company having increase production and sales. Utilities expenses rose 3.84 % from year 6 to 7. CBI operation worked proficiently in year 7, and this helped them experienced only an increase of 3.8% in utilities. This was caused due to increase production. CBI utilities increased by 11.11 during year 8. I would suggest CBI have their utilities monitor from day to day to see how they can prevent an increase in expenses when the company is not performing well compared to the previous year. Research CBI saw research and development saw a 37.5 % percent increase from year 6 to 7.During year eight CBI reduces their research and development expenses by 16.3 %. A company should never reduces their research and development if they company perform well in the previous year. I believe this was one of the reasons why CBI had a great year during 7 because they knew what consumers wanted. Due to lack of spending on research and development this caused their sales to drop. Research and development is an important component of competition against other companies without a company will fail to succeed. Interest Income CBI interest income rose 38.1% from year 6 to 7. During year 7 CBI income was properly invested. During year 8 CBI investments had a 3.4% reduction. The reduction was small, but small things do add up over time. I would suggest CBI to monitor their investments and make plans to move around their money if the current trend continues. Balances sheets CBI accounts receivable rose 164.3% from year 6 to 7. During year 8 CBI accounts receivable drop 15 percent. CBI should monitor accounts receivable more closely to make sure past due balances are paid on time. This was caused due to the company noticing a large increase on accounts receivable during year 7 and they tried to capitalize on it. This caused their accounts receivable to drop. Raw Materials CBI manages their raw materials well during year 7. CBI had 3.1% percent reduction in year 8. CBI should incorporate lean production method and Just in time production to avoid wasteful spending and production. Liabilities CBI liabilities increase 1.2% from year 6 to 7. This is expected due to year having 7 having an increase in sales and productions. CBI reduces their liabilities by 3.1% from year 7 to 8. This is good because CBI had a 15 percent reduction in net sales. Vertical analysis A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets, liabilities and equities) in a balance sheet is represented as a proportion of the total account. The main advantages of vertical analysis are that the balance sheets of businesses of all sizes can easily be compared. It also makes it easy to see relative annual changes within one business(Investopedia,2013). Income Year 7 net sales were 7% higher than year 6.CBI preserved their selling expenses at 6.7% of total Net Sales. CBI reduced General Admin Expenses from 17.1% during year 6 to 15.5% during year 7.This would lead to an increase in Operating Income from 2.8% of Net Sales from year 6 to 5.3% in year 7 and CBI Net Earnings would increase from 1.1% (year 6) to 3.3% (year7). CBI did not perform well in year 8 because their expenses increase during year 8. This caused CBI net earnings to reduce.. CBI Administrative expenses increased 15.5% from year 6 to 7. CBI net sales increase 18.4% from year 7 to 8. CBI operating expenses income was reduce 5.3%of net sales to 1.9 % causing CBI net earnings from 3.3% to a .7%. I would recommend CBI to monitor their general and Admin expenses. Majority of expenses stayed the same during year 6,7 and 8. However during year 8 the CBI did not perform well. I believed CBI needs to find ways to reduces expenses when the company is having a low sales volume. CBI should incorporate just in time principles and lean manufacturing principles. I believe this would help reduce wasted production and this would help reduce utilities expenses. Just in time principles and lean manufacturing principles could also reduce employee expenses. ASSESTS CBI in the cash and cash equivalent accounts drop from 6.2 % in year 6 to 2.7%. However, during year 7 more products were sold compared to year 6. CBI accounts receivable had a major increase from year 6(6.5%) to year 7(16.6%).CBI needs to monitor their accounts receivable accounts more closely and make sure they’re collecting the amount owed to them. During year 8 CBI cash and cash equivalents had risen from 2.7 %( year 7) to 10.3%(year 8). The reason why this happen was due to CBI had started to monitor their accounts receivable. This helped them collect the money they were owed on past due accounts. I would recommend CBI to avoid making purchase on accounts and find ways to use the cash in a more efficient way. CBI should realize it important they have enough reserves during a recession. This will help hold them over until the economy bounces back. â€Å"Trend Analysis is the practice of collecting information and attempting to spot a pattern, or trend, in the information (Wikipedia,2012).†CBI sales were lower than year 7, but they still were able to make a profit. CBI should expect to see growth in the next few years based on their current trend. CBI is expected to have 3,510 units sold in year 9. CBI will have 3,660 units sold in year 10. Finally during year 11,CBI will sell 3,800 units. The forecast numbers are based on the economy recovering. This will encourages CBI sponsors to invest in professional riders and this will increase new bike sales. Currently is cost CBI 1,047.50 to make each product. I would recommend CBI find suppliers who have the same quality parts, but at a lower cost. I would also make recommend CBI is following just in time and lean manufacturing principles. This could help CBI increase their profit margin. Ratio analysis- analyzes numbers Ratio analysis is a method used by businesses to assess their financial situation by comparing two sets of linked data. Current ratio will measure a companys ability to pay short-term obligations. CBI had a reduction from year 7 (5.9%) to 8(5.35%). Two wheel racing (TWR) current ratio was 4.2% for year 7 and 8. A debt ratio will determine if a business is able to handle any unexpected liabilities it that may come up. A business needs to make sure they enough money to pay off debt to avoid problems with their debt. During year 7 CBI debt ratio was 46.8%. The follow year the debt ratio was 46%. The debt ratio only drops .08 percent during year 8. TWR debt ratio was 38% in year 7 and 8. An acid test ratio will determine if a company can back their liabilities. CBI is doing better than (TWR) by 1.12% and .85%. Inventory turnover- determines the number of times a company can sell it average level of inventory throughout the year. CBI bicycles are customizes for customers so I am unable to compared CBI and TWR. Average collection period, This determines how well a company is able to collect money to the customers they extended credit to.CBI has higher collected amount compared to TWR. CBI was 11.3% higher in year 7 and 8. Gross Profit Margin, will tell investors how much revnue was gain after selling the product(Cost of Good-revenue/gross profit. TWR profit margin is 32.10% higher than CBI profit margin in year 7(27.4%) and 8(27.0%). TWR is operating more effectively. Operating profit margin Measures management efficiency (Operating income/total sales). CBI year 7 was 5.3% and TWR was 5.2%. Year 8 TWR performed better with 5.3% compared to CBI(1.9%). Net Profit Margin show investors the percentage of each sale dollar earn as net income. During year 7 CBI net profits was 3.3% and in year 8 it was .8%.TWR was 5.14% year 7 and 8. The portion of a companys profit allocated to each outstanding share of common stock. Earnings per share serves as an indicator of a companys profitability(Investopedia,2013).TWR was $.08 for year 7 and 8. CBI was $.20 during year 7 and $.04 in year 8. Return on total assets-determine how successful a company is to earn profit with their assets. TWR total assets was 4.8% for year 7 and 8. CBI was 4.5% in year 7 and year 8 was .8%. Return on Common Equity- Income between net income and stockholder equity. During year 7 CBI equity was 8.5% AND TWR was 8.1%. CBI equity in year 8 was 1.5% and TWR was 8.1% Price / Earnings Ratio- Stock prices and company earning. CBI earning share 49.67 and TWR was 29. During year CBI price jump to 83.73 and TWR was still 29. Times Interest Earned Determines the numbers of times operating income can pay interest expense. Year 7 interest earn was 5.27 and TWR was 4.24. During year 8 CBI interest earn drop to 1.77 and TWR remained 4.24. ‘Working capital is a financial metric(current assets minus company liabilities) which represents operating liquidity available to a business, organization or other entity, including governmental entity(Wikipedia,2013).† The financial metric system will analyzes if a company will be able to pay their short term liabilities or do they need to take an alternative solution. CBI working capital in year 6 was $382,394: CBI working capital at the end of year was 1,306,617. CBI increased their working capital by 70.7% at the end of year 8. After reviewing CBI working capital the results indicated they will be able to pay their short term liabilities Recommendation I would recommend CBI to have their accounts executives to build a better relationship with customers and make sure they’re satisfied with the work they are receiving. One of the most important things a company can do is listen to their employees. I would also recommend CBI to reduce their accounts receivables. This could be done by making sure that larger orders from customer are sent out faster. CBI inventory cost increase over 24% from year 6 to year 8.CBI should follow the just in time and lean manufacturing principles. This will reduces inventory cost for CBI. CBI transportation expenses are one of their highest expenses. I would recommend CBI to consider to purchasing their own delivery truck and see if this will help them reduce their transportation expense. Internal controls Internal controls helps a company infrastructure run smoothly. Internal controls also help protect and prevent fraud. Internal control will try to remove the temptations for employee to act unethically in the aspect of putting the company at risk of lawsuit. CBI purchase department (PD) will purchases orders from suppliers based on their monthly budget. Once the order has been received the PD will evaluate bids from different suppliers. Once the order has been received they’re given to the production line. The invoice will be sent to the PD. If there are any supplies left they will be sent to raw materials. The PD will then send an accounting department who issues a check to the supplier. Recommendation I would recommend the whole entire processed be revamped. The first thing I would recommended is to separate the duties of researching the bid and purchasing orders. The next thing I would suggest is to make the receiving department in charge of verifying the shipping when the packages arrive. The receiving department needs to verify every item is there from the supplier and their no missing item from the delivery. The receiving department should maintain an inventory control system. After the receiving department has approved the invoice, they should forward to the purchasing department. The purchase order will be forward to the accounting department for payment. Accounting has currently been only receiving unverified invoices. Risk Accounting has currently been only receiving unverified invoices. The lack of verification could cause CBI to get double charge for item they already paid for. Currently their lack of inventory control system. Currently unused supplies are being sent to raw material without anyway of tracking it. This would make it easy for employees to steal because lack of inventory control system. Recommendation I would suggest an inventory control system be implemented. I would make sure all packages received by receiving department be verified by management to avoid being double charge. The inventory control system will help prevent theft from employees. I would also hire outside firm every quarter to check inventory levels to make sure no one is stealing from the company. Sarbanes-Oxley Act Sarbanes-Oxley Act is government regulation that congress pass in order to improve financial disclosures. This would help prevent accounting fraud and improve financial disclosures from corporations(Wikpedia,2013).†Section 302: A mandate that requires senior management to certify the accuracy of the reported financial statement Section 404: A requirement that management and auditors establish internal controls and reporting methods on the adequacy of those controls. Section 404 had very costly implications for publicly traded companies as it is expensive to establish and maintain the required internal controls (Investopedia,2013). CBI does not mention that they were audited by outside firm. I highly recommend CBI to hire auditing firm to review the company’s annual statement before releasing the numbers to the public to make sure there is no accounting errors. Internal controls are implemented and effective at the end of year 8(Dec 31). The CEO, and CFO certification is need because it is required by SOX and this could not be located. Auditor releases the following statement to shareholders. A material weakness is a control deficiency, or a combination of control deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis Recommendations CBI needs to make sure they are in compliance with the regulations set forth by Sarbanes-Oxley CB. The first thing I would recommend is to conduct a internal control assessment. The next thing I would recommend CBI to hire accounting firm to review their internal controls. The control needs to be based on Sox guidelines. The CEO and CFO needs to certify they’re aware of the CBI internal control and the actions the company have taken to protect investor’s investments. It is very vital CBI CEO and CFO certifies they’re aware of internal control because Sarbanes-Oxley requires this to be done. Since the accounting firm made assessment that the internal control is effective their might be some problems that could arise from the following statement, â€Å"A material weakness is a control deficiency, or a combination of control deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis.† I would recommend the CEO or CFO to take action fix the internal control problem because they could face jail time for making statements that were not true. .† CBI should base their guidelines set forth by the Committee of Sponsoring Organizations of the Tread Way Commission(CSOTWO). CSOTWO is joint inivate five private sector organizations devoted to providing leadership through progress and guidance on enterprise risk management, internal control and fraud dictation. This is a great way for C BI to improve the internal control process. References Free Dictionary(2013) http://legal-dictionary.thefreedictionary.com/Sarbanes-Oxley+Act+of+2002 Investopedia(2013) http://www.investopedia.com/terms/h/horizontalanalysis.asp#axzz2Hh4rgfuE True Bussiness(2013) http://truetobusiness.com/finance/ratio-analysis Wikipedia(2013) http://en.wikipedia.org/wiki/Internal_control

Themes In African Creation Stories :: African Culture Essays

Themes In African Creation Stories Like all cultures, African cultures inevitably had to deal with the issue of "How did we get here?" To answer this pressing question, the people invented stories that reflect the values, morals, and norms of their individual societies. When one examines these stories, one can gain insight into what these cultures were like. "An African Cosmogony" tells of how the world was created through a powerful being named Bumba, who regurgitates the sun, moon, stars, and the first nine living creatures. One of the values that appears in this story is the responsibility of each person to do his fair share for the community. Each of the nine animals plays its role by creating more creatures to populate the world. For example, the small fish, Yo, brings forth the world's fish, while the beetle creates insects. This theme is further exemplified by the three sons of Bumba, who each try to do their part to complete the earth. However, one learns that one should not try to do more than one is capable of, as Chedi Bumba does, or the results will not be favorable. Bumba also makes it clear that those whose behavior is detrimental to the community have no place in the community. For instance, Tsetse, lightning, is chased away for being a trouble-maker. Bumba sums up this sense of community by saying, "Behold these wonders. They belong to you." The earth is both the property and responsibility of every creature. Lastly, the respect each person should have for the dead is shown through the ants, created by Nyonye Ngana. These creatures "went searching for black earth in the depths of the world and covered the barren sands to bury and honor their creator." "An African Story of the Creation of Man" takes a much different approach to explaining the origin of humankind. It tells of how the creator Juok molded each race from the colored clay of that region. Juok then provided humans with the things necessary to fully enjoy and appreciate life. Among these gifts were two legs, arms, ears, eyes and a mouth. This story depicts the perfection of humans in the sense that they are fully equipped with everything needed for practical purposes. It serves to make people value what they have and their ability to perform many tasks. The regurgitation theme is continued in "Egyptian Cosmogony and Theogony.

Despite Risk and Uncertainty Essay

Risk is any factor that may potentially interfere with successful completion of the project. A risk is not a problem-a problem has already occurred; a risk is the recognition that a problem might occur. By recognizing potential problems, the project manager can attempt to avoid a problem through proper actions. Project Management is the skills, tools and management processes required to undertake a project successfully. Stakeholders are persons or organizations that are actively involved in the project, or whose interests may be positively or negatively affected by the project. Organizations take risks to benefit from potential opportunities however; these opportunities involve an element of risk. Projects entail a level of uncertainty and therefore carry business risk. Every project has risks. Organizations that succeed are the ones that plan for those risks – anticipating, mitigating, and providing response and contingency plans for negative events that may or may not occur. Risk Analysis solutions provide the tools for doing just this, enabling companies to identify, assess and model risks – and, in the process, taking much of the uncertainty out of project and portfolio management. A project risk can be defined as an uncertain event or condition that, if it occurs, will have a positive or a negative effect on a project’s objectives. Identifying risk in the planning stage enables better project selection decisions and more accurate budgeting and scheduling, (Oracle white paper,2010). Risk assessment is critical to understanding the impact of risk and uncertainty on project schedule and cost. Once risks are identified and assessed, the next step is to develop a response plan. Typical mitigation actions include adding time to the schedule, deploying more resources on the project, bringing in outside expertise, increasing the budget, just to mention a few. Uncertainty is an inevitable aspect of most projects, but even the most proficient managers have difficulty handling it. They use decision milestones to anticipate outcomes, risk management to prevent disasters and sequential iteration to make sure everyone is making the desired product, yet the project still ends up with an overrun schedule, overflowing budget and compromised specifications. Or it just dies. Unforeseen uncertainty makes contingency  planning more difficult because the project team cannot anticipate everything. Because it is impossible to create a complete contingency plan, the plan must evolve as the project progresses. With unforeseeable uncertainty, a lot of time and effort must go into managing relationships with stakeholders and getting them to accept unplanned changes. Stakeholders often dig in, causing resistance and conflicts. Failing to address risk and uncertainty can lead to consequences that span the spectrum from mere inconvenience to grave danger, (www.ey.com). The article went on to explain some of the effects that risk has on the mining and metals companies projects. Failure to deliver against agreed plans — Realized delivery risks will typically impact one or more of a project’s cost, schedule, scope and quality parameters. Where impacts represent a material variation from approved plans, a critical review of the project’s alignment to Business Case assumptions and rationale may be required. Late-stage Business Case modifications have the potential to undermine the project’s investment case and severely impair stakeholder buy-in and confidence. Loss of competitive advantage — For many mining and metals companies, the ability to efficiently and predictably operationalize assets and infrastructure forms a key source of competitive advantage. As commodity prices, commercial terms and the competitive landscape constantly change, the window for timely project delivery is finite. When risks result in project delays, cost overruns or quality defects, many companies will feel a direct impact on corporate performance and competitive advantage. Damage to reputation — Leading mining and metals companies recognize the essential disjointed role of corporate reputation in securing and maintaining a social licence to operate. The risk of health, safety, environment and community incidents is ever present, demanding high levels of delivery discipline and management vigilance. Where policy, process or control break-downs do occur, and an incident results, mining and metals companies must respond immediately to prevent long-lasting reputational damage. The Impact of a risk may be to the project and its success criteria (eg budget and timeframes or the quality of the project output) or it could be to the business as a result of the way the project is carried out. At the same time,risk assessment increases profitability. Contracts can be selected  and priced at the right level of risk, and the business can be managed with risk fully understood, (Oracle white paper,2009). Specific risks can be negotiated, it can be made clear who bears them, and they can be built in to contracts. After evaluating risks, one can choose a path of risk avoidance or risk mitigation and management. If one understands the risks in a project, one can decide which risks are acceptable and take action to mitigate or forestall those risks. If one’s project risk assessment determines that risks are excessive, one may want to consider restructuring the project to within acceptable levels of risk. Every project has risks and the way that these risks are i dentified, assessed and mitigated plays a critical role in the project outcome. Most firms would rather have projects without risk and uncertainty, to realize more profit and growth and also improve or maintain their good reputation. However, risk and uncertainty are not the only factors that may negatively affect a project thus hindering profitability, growth and good reputation for the organization. There are several other factors that aid a project to contribute to the well-being or downfall of the organization. A project fails when the plan is not met. (Oracle white paper, 2009) Failure means that a project exceeds the timeline, the project has to be founded upon realistic timescales, taking account of statutory lead times, and showing critical dependencies such that any delays can be handled. A schedule should include a satisfactory measurement system as a way of judging actual performance against budget and time allowances, Slevin D.P, Pinto J.K (1987) Failure also means that a project overspends the budget, or underperforms expectation, they need to have a clear project plan that covers the full period of the planned delivery and all business change required, and indicate the means of benefits realization. Lack of clear link between the project and the organization’s key strategic priorities, including agreed measures of success also affect projects. The organization needs to know how the priority of this project compares and aligns with other delivery and operational activities. There is need to have defined the critical success factors (CSFs) for the project. Project success or contribution on profitability, growth and reputation for the organization also dwells on clear senior management and Ministerial ownership and leadership. As noted by Schultz and Slevin (1975), management support for projects, or indeed for  any implementation, has long been considered of great importance in distinguishing between their ultimate success or failure. Without an experienced project manager, projects can quickly spiral out of control. The project management team must have a clear view of the interdependencies between projects, the benefits, and the criteria against which success will be judged. Decisions need to be taken early, decisively, and adhered to, in order to facilitate successful delivery. Another great effect to projects contribution on the organization is effective engagement with stakeholders. It is crucial for the firm to identify the right stakeholders an d secure a common understanding and agreement of stakeholder requirements. The project needs to take sufficient account of the subsisting organizational culture whilst ensuring that there is clear accountability and how to resolve and conflicting priorities. The need for client consultation has been found to be increasingly important in attempting to successfully implement a project. Indeed, Manley(1975) found that the degree to which clients are personally involved in the implementation process will cause great variation in their support for that project. If you are managing an internal project, it might not be wise to upset stakeholders that you might need to deal with at a later date. The need for diplomacy is important, and the political landscape can have a large impact on how easy or difficult it will be to deliver the project,(Bauer M). The extent of stakeholder involvement also affects the reputation of the organization and consequently the profits and growth potential. Lack of skills and proven approach to project management and risk management can affect the project and consequently the organization. . Lack of experience breeds excessive conservatism (K. Humphreys). Not having the right people for a particular project may compromise the job. â€Å"The key to a successful project is to include the right people with the right skill-sets,† says Joel Koppelman. He also quotes, â€Å"All the planning in the world will not compensate a lack of talent.† CONCLUSION Risk and uncertainty actually help the project team and management to stay alert and prepare in advance for possible attacks to the project. Decision-making under conditions of risk where there are assigned estimated probabilities and predicted impacts for each identified risk, enables  management strategies to be developed as a response including monitoring and controlling the risk mitigation to reduce these risks to the desired level. Despite risk and uncertainty, there exist other factors that can greatly affect the outcome of the project on profit, growth and reputation. It can then be concluded that risk and uncertainty are not the only factors that hinder projects from contributing to the profitability, growth and the reputation of the organization. Lack of skills and proven approach to project management and risk management, lack of effective engagement with stakeholders, and clear senior management and Ministerial ownership and leaders affect the outcome of a project. Altho ugh risk and uncertainty have dire consequences for the firm, eliminating them will not guarantee projects contributing to profitability, growth and reputation of the organization. The other factors mentioned above are equally liable to project success. REFERENCES Oracle white paper, A Standardized Approach to Risk Management Improves Project Outcomes and Profitability, April 2010 Oracle Corporation World Headquarters 500 Oracle Parkway Redwood Shores, CA 94065 U.S.A. Dennis P. Slevin and Jeffrey K. Pinto, Balancing Strategy and Tactics in Project Implementation’, Sloan Management Review, Fall, 1987, pp. 33-41, Kenneth K. Humphreys, Project Risk Management – Advantages and Pitfalls Pe Cce Dif, n/d. Schultz, R. L. and Slevin, D. P. â€Å"Implementation and Management Innovation,† in Implementing Operations Research and Management Science, ed. Schultz, R. L. and Slevin, D. P. (Elsevier. New York, 1975), pp. 3-22. Manley. J. H. â€Å"Implementation Attitudes: A Model and a Measurement Methodology.† in Implementing Operating Research and Management Science, ed. Schultz. R. L. and Slevin, D. P. (Elsevier. New York, 1973), pp. 183-202. Oracle White Paper, The Benefits of Risk Assessment for Projects, Portfolios, and Businesses,June 2009. Oracle Corporation World Headquarters 500 Oracle Parkway Redwood Shores, CA 94065 U.S.A. Bauer M. Project Success Factors. Retrieved from www.martinbauer.com/Articles/How-to†¦Project/Project-Success-Factors on 21March 2014.‎ Project Management Planning,January 1997. Retrieved from www.cioarchives.ca.gov/†¦/PM3.10_Planning_Risk_Managem†¦ On 22March 2014. Ernst & Young Global Limited, Effective mining and metals capital project execution,The consequences of risk. U.K Retrieved from www.ey.com on 19 March 2014.

Pain Perception Pain And Pain - 924 Words

Pain Perception According to John Hopkins Medicine (n.d.), pain is an uncomfortable feeling that tells you something may be wrong. It can be fixed, throbbing, stabbing, aching, pinching, or described in many other ways. Pain is categorized as either acute or chronic. Acute pain is usually severe and brief, and is often a signal that your body has been injured. Chronic pain can vary from mild to severe and is there for long periods of time (John Hopkins Medicine, n.d). This paper will discuss a scenario that entails which person is experiencing the most pain, how two people can have the same procedure experience different levels of pain, factors that contribute to each person’s pain level, and two complementary/alternative methods of pain control. Who is Experiencing the Greater Amount of Pain? â€Å"Mr. Clark (white Anglo-Saxon) and Mrs. Wong (Chinese) have had a total hip replacement. Mr. Clark has a client-controlled analgesic pump (PCA) and is receiving a small dose of morphine every 10 minutes. He scales his pain as an 8 on a numerical scale of 0 to 10. Mrs. Wong refused the morphine pump and prefers to use over-the-counter Motrin for the pain. She scales her pain as a 3 on a numerical scale of 0 to 10† (L.Barrow, personal communication, August 20, 2016). Pain is subjective, meaning it is whatever the experiencing person says it is. People tolerate pain differently. Mr. Clark has a low tolerance for pain according to the rate of 8 on the pain scale. As a result, he needs aShow MoreRelatedPain And Perception Of Pain1220 Words   |  5 PagesPain is not only defined as a sensation or a physical awareness, but also entails perception. Moreover, pain is an unpleasant and an uncomfortable emotion that is transferred to the brain by sensory neurons. There are various kinds of pain and how one perceives them is varied as well. 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According to IASP Taxonomy, International Association for the Study of Pain, â€Å"hypoalgesia is diminished pain in response to a normally painful stimulus† (MerskeyRead MoreCultural Influence On Pain Perception And Behavior865 Words   |  4 Pagesarticle I found was called â€Å"Cultural Influence on Pain Perception and Behavior.† The journal talked about how sociocultural context can influence a person experiencing pain. The journal looked at childbirth pain, perception of acute pain, and perception of chronic pain between different ethnic groups. It concluded that pain is heavily influence by cultural background. It pointed out the possibility of a disparity between pain expression, and pain interpretation by the medical professional due toRead MoreThe Perception of Pain in Conjunction to the Mind and Body Essay2320 Words   |  10 PagesThe Perception of Pain in Conjunction to the Mind and Body The Perception of Pain in Conjunction to the Mind and Body Pain is something that connects all of us. From birth to death we can identify with each other the idea and arguably the perception of it. We all know we experience it, but what is more important is how we all perceive it. It is known that there are people out there with a ‘high’ pain tolerance and there are also ones out there with a ‘low’ pain tolerance, but what is differentRead More The Human Perception of Pain in Conjunction with the Mind-Body Problem2048 Words   |  9 PagesThe Human Perception of Pain in Conjunction with the Mind-Body Problem There is more research surfacing supporting the notion that people can control their pain. What is left under-examined is the notion of whether the pain is mediated by the brain, mind, or both. We all know that pain is an instinctive sense if you will, necessary to the survival of all living beings. Without pain, it would go unrecognized and exacerbate to the point of death. Pain is a protective mechanism essential to survivalRead MoreEffects Of Chinese Culture On Pain Perception, Responses And Management1671 Words   |  7 Pagesculture on Pain perception, Responses and Management Arshdeep Sandhar 604-056189 Atit Walia CDI College Surrey BC Practical Nursing Variations In health IV July 25. 2017 Introduction â€Å"Pain is a universal condition. At some time, each person will experience pain from illness or injury. Pain isn t only a physical experience; it also has an emotional component that may trigger behaviors that play an important role in how a patient s pain is perceived by others (Yvonne, 2009)†. Pain can createRead MoreThe Evidence That Pain Perception Is Not Entirely Dependent On Physical Injury1276 Words   |  6 PagesDescribe the evidence that pain perception is not entirely dependent on physical injury Each individual have experience pain differently. This is usually due to the factors of ethnicity, genetics and sex. This is known as pain perception. Different pain experiences are usually based on the location and severity of pain of an injury. However, evidence has shown that pain perception is not entirely dependent on physical injury; when pain perception is less/greater than expected from the extent of a