Review of Leading In a Culture of Change

Review of Leading In a Culture of Change Leading in a culture of change by Michael Fullan is a small but powerful book on the dynamics of change and the role of leadership in managing and coping with the change process. Michael Fullan, the dean of the Ontario Institute for Studies in Education at the University of Toranto is an international authority on educational reforms .Fullan opens by quoting Robert Steinberg: The essence of intelligence would seem to be in knowing when to think and act quickly, and knowing when to think and act slowly (p. x). Fullan is concerned with not only the decision, but the timing involved in making the correct decision. He argues that good leadership is not inborn rather one must learn to lead by mastering five core competencies- moral purpose, understanding change process, relationship building, knowledge building and coherence building. Fullan devotes an entire chapter to each competency and illustrates each concept with a solid and provocative collection of public education and private corporation cases. This makes the book a useful tool for an administrative team workshop or school board. It would stimulate excellent discussion on mission and purpose and the clima te in which a healthy organization can change for the better. He also articulates three personal characteristics (energy, enthusiasm, hope) that all effective leaders possess. This book offers a realistic perspective to those who are at the beginning of their leadership career and should be inspiring to those who have attained their peaks. The ambiguities of change forces in the schools are more easily understood after considering Fullans insights into organizational change and leadership. He neither oversimplifies the mission of the school administrator nor makes the work appear impossible. Fullan offers advice for leaders to help them rise above the challenges of the new technology, a changing market place and the crises in the public scenario. He argues that leadership today requires the ability to mobilize constituents to do important but difficult work under conditions of constant change. Fullan demonstrates that successful leaders in education and business have much in common. He took an equal number of change case studies in education and in business and examined leaders behavior and mindsets. The first chapter, A Remarkable Convergence, conveys the theme of the book. The author advises that change cannot be managed. It can be understood and perhaps led, but it cannot be controlled. This chapter is devoted to the discussion of effective leadership, stating within the first page this is not the book about super leaders. Charismatic leaders inadvertently often do more harm than good because, at best, they provide episodic improvement followed by frustrated or despondent dependency. Superhuman leaders also do us another disservice: they are role models who can never be emulated by large numbers (p. 1). The author weaves the business world and the educational world together as learning organizations, stating that if they fail to evolve together they will fail to survive. He suggests five themes for successful leadership: moral purpose, understanding change, developing relationships, knowledge building and coherence making. Fullan argues that when the goal is sustainable change in a knowledge society, business and education leaders increasingly have more in common. Like the business leader, the principal of the future the Cultural Change Principal must be tuned to the big picture, a sophisticated conceptual thinker who transforms the organization through people and teams In chapter 2, Moral Purpose, Fullan argues that all five components are strongly connected with each other. Moral purpose is seen as both an end and means. In education, every leader, whether an administrator or teacher must see an important end, making a difference in the lives of students. He continues by stating that, if you dont treat others fairly, you will be a leader without followers (p. 13). Fullan describes two excellent examples of moral purpose. The Monsanto Companys remarkable transformation, under its new CEO, Robert Shapiro, started with a series of town hall meetings discussing the unsustainable problems of hunger facing humanity. That discussions lead to ten thousand of Monsantos employees becoming involved feeding the world. The second example is the national Literacy and Numeracy strategy, the nation wide initiative to improve both the literacy and numeracy of Great Britains twenty thousand schools in which Fullan has been an active participant. The author clearly makes his point; social consciousness and the concept of being a good citizen apply internally as well as externally whether in the business or educational system. In chapter three Understanding Change, Fullan states that the purpose of this book is to understand change in order to lead it better. . . .the goal is to develop a greater feel for leading complex change, and to develop a mind-set and action set that are constantly cultivated and refined. Page 34 of this book states that, change can be led, and leadership does make a difference. He suggests that having innovative ideas and understanding the change process is not the same thing. Indeed, the case can be made that those firmly committed to their own ideas are not necessarily good change agents because being a change agent involves getting commitment from others who might not like ones ideas. Fullan quotes Kotter`s eight step process for initiating top down transformation (1996, p. 21) Establishing a Sense of Urgency Creating a Guiding Coalition Developing a Vision and Strategy Communicating the Change Vision Empowering Broad-Based Action Generating Short-Term Wins Consolidating Gains and Producing More Change Anchoring New Approaches in the Culture Further he quotes Beer, Eisenstat, and Spectors observations (1990) about drawing about bottom-up ideas and energies Mobilize commitment to change through joint diagnosis(with people in the organization) of business problem Develop a shared vision of how to organize and manage for competitiveness Foster concerns for the new vision, competence to enact it, and cohesion to move it along Spread revitalization to all departments without pushing it from the top Institutionalize revitalization through formal policies, systems and structure Monitor and adjust strategies in response to problems in the revitalization process Then Fullan shares Hamels advice (2000) to lead the revolution Step 1: Build a point of view Step 2: Write a manifesto Step 3: Create a coalition Step 4: Pick your targets and pick your moments Step 5: Co-opt and neutralize Step 6: Find a translator Step 7: Win small win early, win often Step 8: Isolate, infiltrate, integrate He offers the following guidelines for understanding change: The goal is not to innovate the most. Innovating selectively with coherence is better. Having the best ideas is not enough. Leaders help others assess and find collective meaning and commitment to new ways. Appreciate the implementation dip. Leaders cant avoid the inevitable early difficulties of trying something new. They should know, for example, that no mater how much they plan for the change, the first six months or so of implementation will be bumpy. Redefine resistance. Successful leaders dont mind when naysayers rock the boat. In fact, doubters sometimes have important points. Leaders look for ways to address those concerns. Reculturing is the name of the game. Much change is structural and superficial. Transforming culture changing what people in the organization value and how they work together to accomplish it leads to deep, lasting change. Never a checklist, always complexity. There is no step-by-step shortcut to transformation; it involves the hard, day-to-day work of reculturing. The Cultural Change Principal knows the difference between being an expert in a given content innovation and being an expert in managing the process of change. This principal does not make the mistake of assuming that the best ideas will carry the day. Instead, the Cultural Change Principal provides opportunities for people to visit sites that are using new ideas, invites questions and even dissent, and expects the change process to proceed in fits and starts during the first few months of implementation. Nevertheless, such a principal forges ahead and expects progress within a year because he or she has nurtured the conditions that yield results sooner rather than later. The title of chapter four, Relationship, Relationship, Relationship, is self explanatory. Success of any venture depends upon the people involved in the change process. Leaders must be skillful relationship builders with diverse people and groups. The single factor common to every successful change initiative is that relationships improve. If relationships improve, things get better. If they remain the same or get worse ground is lost. Effective leaders constantly foster purposeful interaction and problem solving. They are wary of easy consensus. Emotional intelligence is at the core of leaders who are continuously successful in a culture of change. Fullan makes an excellent point concerning change while discussing high stakes testing. We must resist the urge to focus on short term results by placing our emphasis on long-term results and the systemic improvements that will generate the lasting change we are seeking. The chapter five is knowledge building. Leaders need to commit themselves to constantly generating and increasing knowledge inside and outside the organization. Effective leaders understand the value and role of knowledge creation; they make it a priority and set about establishing and reinforcing habits of knowledge exchange among organizational members. Fullan describes a number of strategies used in education, business, and the military for turning information into knowledge by engaging people in an orchestrated social process. The key skill here is to convert information to knowledge through purposeful social interactions. In chapter six, coherence building, the author takes the reader on a journey of guiding people through their differences and enabling those differences to surface. He builds on the hypothesis that creative ideas and novel solutions are often generated when the status quo is disrupted. He discusses the frustration felt by many when a school district has a large number of improvement programmes operating at the same time. Fullan argues that we are in complex (rather than chaotic) times and that the central tendency of dynamic, complex systems is to constantly generate overload causing fragmentation, uncertainty and confusion. Effective leaders guide people through differences and enable differences to surface while creating coherence. They tolerate enough ambiguity to keep creative juices flowing, but seek coherence along the way. They ensure strategies are in place to keep people focused and moving in a purposeful direction. In chapter seven, The Hare and The Tortoise, Fullan refers to the Fontaines Fable of the hare and the tortoise. Developing leaders are more tortoise-like than hare-like. Three powerful lessons about leadership are identified: the vital and paradoxical need for slow knowing overtime, the importance of learning in context , and the need for leaders at all levels of the organization, in order to achieve wide spread internal commitment. Good leaders foster leadership at other levels. Leadership at other levels produces a steady stream of future leader for the system as a whole. Fullan concludes that leaders in a culture of change will be judged as effective or ineffective not simply by their results and who they are as leaders, but by the leadership they develop in others. Fullans writing style is more familiar than authoritative with liberal amount of case histories from both the business world and the world of education. The theme of this book is that all of us can improve our leadership abilities simply by focusing on a small number of key dimensions. Fullan ties each chapter to the previous one re-emphasizing the previous chapter through reinforcement in the current one. This book states that two things have occurred in recent times that have aided the discovery and pursuit of effective leadership. The first is that the knowledge base of what it takes to be an effective leader is getting broader and deeper, and with more insight. The second thing that happened is that there are many more examples of transformation in both business and education. In reading this text and then reviewing it, I concluded that there were three basic premises that were utilized to accomplish the purpose of the book. I think that the first premise was found within the verbiage of the preface, which related that this book is about how leaders can focus on certain key change themes that will allow them to lead effectively under messy conditions. This book is also about how leaders foster leadership in others, thereby making themselves dispensable in the long run (p. x) The second premise is that each and every leader, whether the CEO of a multinational corporation or a school principal, can become much more effective by focusing on a small number of core aspects of leadership and by developing a new mind-set about the leaders responsibility to himself or herself and to those with whom he or she works (p. 2). The premise this book uses to achieve its purpose is that it delves into the complexities of leadership . . . It provides insights, strategies, and, ultimately, better theories of knowledge and action suited to leadership in complex times (p. 10). The book lists five components of leadership that were discussed and reviewed (in detail in separate chapters) to support the three premises that were utilized to achieve its purpose. These five components were: moral purpose (which means acting with the intentions of making a positive difference in the lives of employees, customers, and society as a whole), understanding the change process (I think this is self-explanatory), relationships (which means consummating relationships with diverse people and groups; effective leaders constantly foster interaction and problem solving, and are wary of easy consensus), knowledge creation and sharing (which represents a merging of the previous three components to arrive at something new to help or facilitate the change or an understanding of it), and coherence (which is eliminating the ambiguity associated with new knowledge created and shared connecting the new knowledge to existing knowledge). The book argues that by utilizing these five components, we have the correct checks and balances for simultaneously letting go and reining in. When leaders act in the ways recommended, they will disturb the future in a manner that approximates the desired outcomes, Leading in a Culture of Change integrates the most current ideas and theories on effective leadership to support and illustrate five core competencies for leading in complex times. Fullan links components of his leadership framework with concrete examples and cases used in education and business. Moreover it allows the reader to apply the methods gradually. I found the book easy to read and quite enlightening, reinforcing some of my personal beliefs concerning successful leadership styles in the culture of change. Leading in a culture of change deals with the complexities of leadership; it provides insights, strategies and better theories of knowledge and action suited to leadership in difficult times. This book is a call for action, equipping leaders with ideas and strategies for deep success. I found this book both enjoyable and enlightening. Each page offered positive in sight into leading the change process. I would recommend this book to all administrators, whether at the central office level or on the campus. It would be an excellent centerpiece for staff development revolving around the change process. Fullan does not lead the reader to believe that by following simple steps all will work out fine. Instead he offers a path to change with many positive examples of companys and educational systems growing, developing, and maturing towards a common goal.

Patient Interview Essay

Enable to conduct a study that could represent the population of hypertensive people, the researchers decided to divide themselves into two. This is for the purpose of having participants from two different locations. The first group was designated to obtain three patients from the clinic whereas the second group was assigned to attain at least 2 more patients from the university. The former was able to able to approach ten people hence only a ratio of 1:3 agreed to participate. The latter, on the other hand, manage to found two participants out of the eight people they have approached. Both groups of researchers followed the same approach in inviting their potential participants. Most of the participants were either patients in the clinic or employees of the university. The researchers explain the purpose and format of the interview, the terms of confidentiality, and how long will the intended interviews lasts. After the patient interviewee agreed to participate, they had lead to a less noisy environment within the vicinity of both the clinic and the university. The Patients Patient number 1 is a 63-years old man. His ethnicity falls under the African-American category. He has completed his graduate school and was now a successful businessman. He has been diagnosed to have Diabetes Mellitus two years ago and a known hypertensive at the early age of 36. He is insured under the Health Maintenance Organization or what commonly known as HMO. Patient number 2 is a 47-years old female. She originates from Canada. She’s a high school graduate and was now working as a cashier. She claims she doesn’t have any disease at all. This patient has no insurance of any kind. Patient Number 3 is a 58-years old Chinese Professor. He has recently been diagnosed to have renal problem, which could eventually lead to end-stage renal disease if not properly addressed. He has also mentioned that he has some fluctuating blood pressure readings over the past three years. As for his insurance, he was under Medicare. Patient Number 4 is a 37 years old factory worker from Sweden. He claimed he was a known hypertensive since the age of 30 because of his fondness to eat fatty foods. He doesn’t have any insurance at all. Patient Number 5 is a 70-year old retired engineer, who originates from Australia. Although old, he claimed that he was still in the pink of health except for his arthritis. This patient is insured under HMO, that he says he’s not worried if ever he would have illness in the future. These five patients came from different walks of life. But their knowledge and belief about their condition varies slightly. The study showed that the most prevalent issues among the participants were how they conceive the seriousness of having elevated blood pressure. Most of the participants were unaware of its complications. How can these patients be cured if they haven’t felt the danger it can bring to their lives? The first step to healing any disease state no matter how tough it is; is the knowledge of disease, identifying cause, risk factors of worsening the disease and barriers preventing the cure of the disease (Alexander, 2003). When these patients got to know their real health state, awareness follows. By doing so they can be able to grasp the notion of their actual condition Another issue that surfaced among the participants is the misconceptions they have about the origin and cause of hypertension. Many patients often perceive their illness as a burden they will carry out all their lives and that no matter what they do, they won’t achieve a normal state. This perception affects patients negatively because it impacts on their compliance; these perceptions and feelings make patients lose hope of curing (Ross, 2004). This is not true however, patients with hypertension might have the disease all throughout their lives but it can be kept under controlled. In addition, poor control was due to other lifestyles that patients were practicing (Egan, 2003). So with the right lifestyle, management and compliance, hypertension can stay at bay side for the rest of their lives. For any medical intervention to be effective, trust and communication between the healthcare provider and patients is a vital aspect. The interventions discussed would be very much beneficial to combat the increasing incidence of hypertension among the productive and elderly population. By distributing pamphlets that contained details regarding how to take medicines and obtain blood pressure through the use of blood pressure apparatus, we are escalating their awareness for self-care and evaluation as well. Moreover, thru this dissemination of information we can constitute reinforcement on patient’s education on how to be conscious of their health state. But one aspect should be included in that method. People should be taught regarding the normal blood pressure range and how an increase or decrease of this range can affect their whole being. The most significant contribution of this method is that, not only will it be beneficial to people with hypertension but it can also helps to identify those people who is unaware that they might already be suffering from elevated blood pressure. It is important to note here that educating patients about general knowledge and awareness is not enough to effectively treat or control hypertension. Patients should be thought to recognize and adhere to the importance of following their blood pressure readings daily to well control their state and prevent any worsening that could take place. Focusing on educating patients will for sure prevent the progression to strokes and heart diseases (Oliveria, 2004). As for the implementation of mandatory course, it will also be imperative to have this method of intervention because it can obliterate misconceptions. Many people think that having hypertension is not a serious state. By obligating them to attend courses they can be made aware that hypertension can lead to a more life threatening conditions like strokes and heart attacks. It is true indeed that when patient understands their condition, compliance is better as compared to those who do not have any idea of their real health status. But there is a drawback here; the course should be as simplified as possible. Because illiteracy is increasing worldwide, subsequently many patients won’t be able to understand complicated and technical words. Low literate patients will not be able to fully manage or comprehend medical devices to track of disease progression and prevent worsening of status (Williams, 1998). Keeping a diary of everyday’s intake and activity can lead to a more personal and specialized management. Thus it can lead in identifying what activity or food can be minimized to obtain the necessary result. In general, education brings awareness and can then lead to better compliance.

Honeywell International Success Essay

This paper introduces the reader to Honeywell International Inc. Honeywell is a world leader in the application of lean manufacturing and its Six Sigma Plus processes. With the use of carefully monitored cost standards, net present value in investment decisions, and the transparency of the company’s financial statements are all methods that Honeywell has successfully implemented and utilized to reach and maintain their status as a world-wide competitor. The company has continued its growth, despite the market downturn that began in 2007, and continues to prove its resilience and pioneering spirit by continually improving their product lines, globally expanding their market, and, monitoring and maintaining financial stability. Its forward thinking and willingness to take risk will provide Honeywell the capacity to maintain its role as a major competitor and contributor to the growth and recovery of our economy. Table of Contents Page Abstract2 Company Overview4 Six Sigma and Lean Manufacturing8 The Use of Standard Costs11 The Use of Net Present Value14 Summary15 References18 Honeywell International Inc. is an American based advanced-technology company that manufactures aerospace and automotive products; residential, commercial, and industrial control systems; specialty chemicals and plastics; and engineered materials. Its assent into history can be traced back to 1885, spanning 125 years of history. Honeywell International is a $38 billion diversified technology and manufacturing leader, with 132,000 employees in over 100 countries and it a Fortune 75 Company. It is a diverse and global-wide organization and is a leading supplier of avionics and electronics, consumable hardware, engine controls, environmental controls, landing systems, power systems, propulsion engines, aerospace services and space products, and systems for the aerospace industry, as well as Original Equipment Manufacturers (OEMs) of commercial, regional, business and military aircraft and spacecraft. Today, its main competitors in the aerospace defense product and service industry are BorgWarner Inc. , Johnson Controls Inc. and United Technologies Corp. State-of-the-art technology, world known brands and global solutions have placed Honeywell in the unique position as one of the premier worldwide suppliers in the aerospace industry, offering solutions of systems, products and services to the largest aerospace and airline companies in the industry. Throughout their 125 years in business, Honeywell has helped revolutionize the aerospace industry with its dedication to research and development and its enthusiasm to advance technology in their various markets. Honeywell’s reliable and efficient aerospace services and support programs deliver the right level of engineering expertise, maintenance services and asset availability solutions to simplify operations while keeping systems and equipment at peak operational performance. It has proven to be successful in its quest for growth and global expansion from the time of inception. Their quest to acquire and expand began in 1927; the original company, Minneapolis Heat Regulator Company, and Honeywell Heating Specialty Co. merged to form the Minneapolis-Honeywell Regulator Co. From the merger, the name Honeywell was adopted and has remained the same since. In the course of its acquisitions, Honeywell purchased other businesses whose focus was in the controls area; among those acquisitions, was Brown Instrument Co. who was a wide-reaching leader in the field of industrial controls and indicators. This acquisition further increased their already successful market to a wider range of customers, as Minneapolis-Honeywell Regulator Co. had already established an overseas trading agreement with Japanese distributors such as Yamatake Trading Company. It was no surprise that, in 1934, Honeywell pursued and eventually acquired Time-O-Stat Controls Corporation. With the acquisition of Time-O-Stat, Honeywell further expanded its global presence, establishing offices in Toronto, Canada and The Netherlands; a few years later, they had offices in London and Stockholm. By 1941, Honeywell had expanded into markets in Chile, Panama, Trinidad, New Zealand, Argentina, and South Africa. By 1972, it operated 25 wholly-owned subsidiaries, 142 branch offices, and joint ventures in five countries outside the U. S. True to its reputation as a risk taker, Honeywell ventured into the computer industry. This venture was brief and by 1991 Honeywell was on longer in the computer business. Even though the venture was short lived, it proved to be of great value; Honeywell used the knowledge gained from their digital computer experience and applied it to the traditional field of automation control, integrating sensors, and activators. In 1986, Honeywell purchased Sperry Aerospace, and markedly enhanced its position in the aerospace industry. Edson Spencer, Honeywell chairman and chief executive officer, said the purchase was among the most important his company had made, †It is an outstanding opportunity for Honeywell that positions us for the long term in a market that is expected to have significant growth for the next 10 years – commercial and military aviation† (Arnold, 2012). This purchase made Honeywell the world’s leading integrator of avionics systems, incorporation flight controls, space vehicles, and the first FAA-certified wind shear warning system. It continued to expand, and by 1993, the company continued its world-wide expansion by opening affiliates in Abu Dhabi, China, Oman, Romania, and the Ukraine. In a span of 26 years, Honeywell had operations in 95 countries through 83 wholly-owned subsidiaries and 13 joint ventures. One of the most noted and discussed mergers occurred in 1999 when AlliedSignal, a diverse manufacturer, bought Honeywell for $13. 8 billion in stock. AlliedSignal kept the Honeywell name, merging offices, and closed its Morristown, New Jersey headquarters. The merger resulted in a major restructuring for Honeywell which added to its product line and services. The deal created a company with $25 billion in annual sales and a market capitalization in excess of $45 billion. The merger gave the combined company the marketing edge, providing their airline customers to take advantage of new technology that would boost cost savings for both parties. In an unexpected turn, the early part of 2001 brought difficulties for Honeywell when the European Commission rejected the purchase of Honeywell by General Electric (GE). In October 2001, Honeywell and GE, the largest corporation in the world and the number one producer of jet engines, announced the intent to embark on one of the largest industrial mergers in history. The plan was for GE to acquire Honeywell, the largest worldwide supplier of non-engine aerospace equipment. During negotiations it was anticipated that there would be no antitrust problem; as GE and Honeywell were not competitors and not part of the same supply chain. The merger was intended to bring together complementary products that were component parts of large jet aircraft. The deal would have been the largest industrial merger in history. Instead, it became recognized as the first, and so far only, merger between US companies to be derailed solely by the European anti-trust authorities, while being cleared by the US Department of Justice (DoJ). On July 3, 2001, in an unprecedented act, the EU officially rejected the planned $42 billion acquisition of Honeywell International Inc. , by GE. The merger was denied by the EU after concluding that the merger would create or strengthen dominant positions on several markets and that the remedies proposed by G.E. were insufficient to resolve the competition concerns resulting from the proposed acquisition of Honeywell. †The merger between G. E. and Honeywell, as it was notified, would have severely reduced competition in the aerospace industry and resulted ultimately in higher prices for customers, particularly airlines† (Pellegrini, 2001). Despite the fact that the GE buyout failure was a stumbling block, Honeywell used the experience to strengthen its core businesses by continuing to develop and introduce new products. The company started an aggressive acquisition strategy with the goal to increase revenues and decrease cost in a strategy that, â€Å"†¦divested small, underperforming operations, reduced the number of suppliers, and streamlined operations in small ways elsewhere† Honeywell History, n. a. ) The results paid off for Honeywell, as they continued to win a large percentage of their contract bids, sales were ahead of budget, and the rate of turnover in managers did not significantly increase from the same period in the prior year, and customer satisfaction was up. Honeywell faced some challenges after the GE debacle, however, by making changes it displayed that tenacity, hard work and a willingness to take risk, can result in huge payoffs. Honeywell continued to streamline and improve their lean manufacturing processes, i. e. Six Sigma Plus, implement and ensure compliance of the company code of conduct and maintain its dominance as a government contractor. Honeywell began its Six Sigma process and concept of self-managed teams in 1995 to â€Å"drive data-based decision making, ensure quality levels, and improve customer satisfaction† (Crager, 2007). Through training, leadership, and senior management support, Honeywell successfully developed their Six Sigma program. In late 2001 Honeywell combined the concepts of lean manufacturing and Six Sigma in a program called Six Sigma Plus to create a more robust program. The program was designed to align improvement objectives directly with business needs by integrating top talent and generating bottom-line results. Six Sigma Plus is an overall strategy to accelerate improvements in all processes, products and services, and reduce the punitive cost of poor quality through elimination of waste and reduction of defects and variations. One of the ultimate aims documented in the Six Sigma Plus strategy is providing maximum value to customers by applying a logical and structured approach to all business processes. One of the pluses of Six Sigma is that it empowered employees, allowing them to make decisions that impacted how their unit or line was performing. This provided Honeywell an excellent tool that is a highly respected measure of excellence. (M. Calderon, personal communication, May 1, 2012) Honeywell took the basic concept of Six Sigma and created its own version which is known as Six Sigma Plus. It is currently used across all businesses and brands to drive growth and productivity. â€Å"The standard operates by providing a measurement of how effective the organization is in eliminating defects and variations from processes. To meet its requirements, a process must operate at 3. 4 defects or less per million opportunities. This equates to 99. 9997% error free† (Six Sigma Plus, n. d. ). Conscious application of the Six Sigma methodology to all business processes delivers greater value to its customers and makes Honeywell a more desirable business partner. The implementation of lean manufacturing processes has enabled Honeywell to maintain tight controls in all aspects of the managerial accounting processes. With the use of managerial accounting, Honeywell has ensured that their productions and service is well planned and controlled. With the budget cuts facing government, private sector job loss, and tightened markets, it is impressive that Honeywell has continued to maintain its sales growth in the United States. The diversity of Honeywell’s world-wide enterprise, exemplifies the importance of a creative corporate marketing approach. Honeywell consists of unique business units, with each, offering a variety of products and services. Strategies and implementation of those strategies must be developed and executed at the corporate, business unit, and product levels. Overall, strategy and long-term planning are guided by the company’s vision and stated mission. At the business level, planning begins with an examination of the current situation, including technological changes and competitive effects. By using this type of analysis, Honeywell is better equipped to address and identify threats and new business opportunities. Decisions to pursue new opportunities are followed by establishing a set of objectives, often stated in terms of market share, sales volume, or profitability. Subsequently, business and marketing strategies are developed to achieve those objectives. Effective execution of strategy in implementation must then occur for objectives to be realized. Effective financial statement analysis will be a primary indicator that indicates the progress and demonstrates whether company goals are being met. Honeywell has been a leader in their industry in planning and control and have used financial analysis in depth to evaluate and control their growth and profitability. It continues to be effective in identifying opportunities to improve the organization’s efficiency and in developing strategic plans to realize those opportunities. By using a diversity of analytical tools Honeywell is better prepared in making operating decisions, such as how and where products are to be manufactured and serviced, whether insourcing or outsourcing is more equitable, and whether to expand and the area to expand to. Timely and accurate financial statement preparation is critical to the success or failure of a business. The financial officer, owner, partner or members management team of a business must review the business financial statements and have a good understanding of them. Financial statements are critical to Honeywell’s ability to make solid, informed decisions. Such decisions are needed in order for Honeywell to meet one of its primary goals, which is to realize a high rate of return on their investments. The measurement and success of this initiative is arrived at by measuring it against other industry averages. This information helps Honeywell understand that current initiatives do show a market response. In view of the fact that the industry average can be general in nature the industry average should be used as a guide. A failure to use the data appropriately can mislead investors and have a disastrous affect on Honeywell’s reputation and marketability. Achieving their strategic plan will not only involve Honeywell’s internal planning and controlling, but it will also involve the support of creditors and investors. Both are key players in providing capital needs to support new initiatives and milestones; the use of financial statements in this process will no doubt be the backbone of the decision making process. It is difficult to know the health and direction of a company if financial statements are not reviewed in a timely manner. In its pursuit of investors, or the success in the results of an external audit, the financial statements are the ultimate representation of company’s financial position. In general accounting practices, Honeywell uses process costing for its furnace thermostats (home products division) and job costing for customized aerospace contracting products. When thinking in terms of standard costs and whether they would be beneficial, one factor to consider is the fact that Honeywell is a world-wide producer with operations in many countries outside of the United States (US). There are ramifications when doing business overseas as well as doing business in the US and each scenario has its own benefits and consequences that are unique to specified circumstances. Honeywell, like their competitors has migrated to low cost countries because of the labor rate differential. The move to overseas production creates additional concerns and dynamics. World-class manufacturing in today’s competitive environment demands more than a single-minded focus on eliminating defects. Since the introduction of Six Sigma and Lean tools to their operations over a decade ago, Honeywell has delivered significant results for customers in terms of the quality, delivery and value of our products and services. To achieve competitive advantage in today’s environment, Honeywell has continued to build on its Six Sigma and Lean foundation, and identify new ways to differentiate themselves. Benchmark companies such as Toyota and Nissan use Six Sigma and Lean tools. Like Honeywell, they also have a disciplined management system that standardizes work and engage employees in improving work processes. In doing this, organizations have achieved tremendous performance improvements. The Honeywell Operating System is a comprehensive, integrated approach to managing their organization. It is characterized by a consistent focus on results for the benefit of our customers, not on the use of specific tools. The objective is to simplify and standardize processes everywhere, to remove variation across operations, and to drive significant and sustainable improvements in safety, quality, delivery and cost. Employees are encouraged use tools such as Six Sigma, in achieving a common purpose: global wide use of an operating system that consistently yields excellent results for the customers and the company. Implementing standardized cost standards is not an easy task and it will take time. Honeywell maintains that standardization will evolve to fit different business environments and changing customer needs and will become an essential part of the process that will bind their company across business and geographic boundaries. Honeywell’s workforce consists of residents of the country they are in to satisfy requirements imposed by foreign nations. It is almost mandatory to have overseas operations to reduce labor and material costs; however, these operations come with high risk. Foreign workers are not always equipped with the necessary skills to perform the manufacturing duties required by a highly technical company. The expense of employing and developing such a workforce can create additional costs. In determining what the additional costs, standard costs prove beneficial because they would provide Honeywell the ability to budget costs with a great understanding and degree of confidence. A standard cost system allows a company to factor in methods that would absorb the periods in which higher costs are identified due to foreign employment development and when costs are low or minimal due to workforce stabilization. In its foreign production, Honeywell will have to set attainable standards in order maintain its performing baseline. Another factor in foreign operations is the volatile condition of the world. The United States is not always welcomed in other countries. It is not uncommon for a common protest to turn into a major world crisis. Such examples are those of the uprisings in Israel and Libya. Honeywell hosts operations in Israel, where relations between the government and the general population are volatile and unpredictable. In addition, we have seen several instances where regimes have changed power and attitudes toward the US in a matter of days. Standard costing is paramount as an aide for monitoring and managing the risk of unpredictability. It is a healthy practice that can protect Honeywell from severe monetary damage if a foreign tragedy should affect the business. The information obtained from standard costing aides Honeywell against the volatility of today’s markets and the strategy of its competitors. Honeywell is continuously improving its processes, products and management style to maintain their competitive edge. To be competitive, Honeywell will continue to use their standard cost system to help them execute planning and control of their strategic priorities. Tracking costs will also help Honeywell identify weakness and variances in their production system. Undetected problems in the areas of materials and labor can eventually raise variance to a point of hindering Honeywell from maintaining their core competencies. Consequently, today’s market provides no room for error, but every opportunity for a competitor to gain the lead. In many respects, some of the rationale that goes into using standard costs also applies to formulating the right strategy to gain a positive Net Present Value. Honeywell’s reach is global and therefore its investment opportunities are also global. Due to the unique factors involved with global markets, it is necessary for Honeywell to perform critical planning for investment decisions. Honeywell has a reputation as an organization that is willing to take risks to make money. It has done that by acquiring other business or expanding its existing facilities for future business. Such expansions are expensive and these expansions require additional staff which adds to the cost of investment. Large expenditures are a challenge to control the net present value (NPV) and require clear identification of cost and risks in order to be a success. Strategic moves, such as partnering with the national government, can leverage the way to a positive NPV. In this approach, there are tradeoff between the corporation and the government in which both interests can be mutually met. Corporation’s like Honeywell utilize these paths in order to reduce investment costs and have accurate projections for calculating and incorporating NPV baselines. Because of the ongoing activity of many investments occurring at one time, it is critical that Honeywell has complete knowledge of their NPV and ensure profitable investments are achieved. Failing to do this can result in major losses, especially when an unplanned shortfall occurs. Although the investment sounds promising, it is critical that NPV is properly measured. It is also advisable from an NPV and program management position that Honeywell phase its investment into NPV milestones which help determine if they should move forward to the next phase of the investment. This process would provide a safeguard while allowing the innovation to prove itself. While the actual rate of return (IRR) that  a given project ends up generating will often differ from its estimated IRR rate, a project with a substantially higher IRR value than other available options would still provide a much better chance of strong growth. IRRs can also be compared against prevailing rates of return in the securities market. If a firm can’t find any projects with IRRs greater than the returns that can be generated in the financial markets, it may simply choose to invest its retained earnings into the market. The need for Honeywell to practice continuous NPV drills in a market with circumstances such as those faced in China by US companies, is critical. While both countries maintain a civil business partnership, there is an unspoken adversarial relationship which creates instability. China is strategically positioning itself as a global power therefore, the relationship between both countries is precarious and any misstep by Honeywell could severely damage the existing business relationship. Another potential concern for Honeywell is that China is currently the largest lender to the US. At the point that China reaches the economic capacity to sustain its prosperity internally, we have to ask ourselves if they will request repayment by the US prior to maturity dates. As we have seen in several European countries, a request of that magnitude could destabilize an already fragile US economy. In consideration of this scenario, and other contributing factors, Honeywell should be careful in investment planning, and phase its activities so that the NPV is not contingent upon results that will take a long period to realize a return. In summary, Honeywell has proven itself as a world leader of technology. This corporation is known world-wide and is a household name. Honeywell leads the way in advanced switching and sensing technology in their home division, and its aerospace division. In spite of the GE failure, it has kept its mark on the global economy through market highs and lows and has maintained its dominant position in an extremely competitive industry. As a long-time survivor and global competitor on the world stage, Honeywell continues to make its mark in history by developing innovative safety products, driving the modernization of global air traffic management, revolutionizing combat technology and their commitment to improving operational efficiencies. Honeywell continues to display their dominance with its diversity and profitable risk taking ventures. Perhaps Honeywell’s greatest strength has been the fact that it has adapted to a world that is ever changing and has embraced the challenge that other companies find daunting. With the continued vision to improve processes for safety, quality and cost, reducing waste, and using integrated strategies Honeywell continues to be a standard for their industry. They continue to be innovative and competitive and have a strong commitment to bringing profitable products that their customers need and want. Due to the diversity and competitive market that Honeywell has chosen to operate in, it is of extreme importance that the company maintains sound financial practices that will support the moral fiber and marketability of the company. As Honeywell moves into the future I believe they will continue to perfect their processes to produce the right financial statements, useful in calculating their position in the market, and providing the best advice for investment decisions. The proper use of standard costs and net present value are an example of the critical tools that ensure Honeywell continues to thrive in today’s unknown global conditions. Also critical to the success of Honeywell is the continued utilization of strong and proper ethical practices as the company is well known, world-wide competitor and a representative of the American business ethics and values. Whether it is in the Middle Eastern or the Far East, Honeywell is known and recognized; such a position makes it important for Honeywell to be transparent in its fiscal disclosures. Sound financial practices are essential to Honeywell in order for the company to continue its success and market dominance. Primary emphasis on these practices will serve to maintain Honeywell’s status and help them make the most profitable investment decisions for their investors and the company. As recent as April 23, 2012, Honeywell declared a â€Å"regular quarterly dividend of $0. 3725 per share on the company’s outstanding common stock. The dividend is payable on June 8, 2012 to shareowners of record at the close of business on May 18, 2012† (Honeywell Declares Quarterly Dividend, 2012). If this is any indication, Honeywell will continue to be a viable global competitor and financial contributor to our financial and job market. Honeywell is an excellent example of an organization that is forward thinking and proactive. It has operated with a strong ethical code of conduct, strong financial discipline and an ever present focus on the future. This methodology and ideology will ensure their continued financial growth and market expansion. It is apparent that their cost standards, lean processes, and disciplined managerial financial management has enabled them to overcome obstacles, secure their position as a global competitor and a viable contender in today’s competitive, technology-oriented world.

Capital Punishment Light Of The Natural Law - 898 Words

Justin Yu GTX 2302 Dr. Foley Due: October 31, 2017 Capital Punishment in Light of the Natural Law The practice of the death penalty and capital punishment is a contemporary political issue that is widely debated throughout the United States. It is my opinion that capital punishment should either be discontinued or only reserved for the rarest of the rare case. In this essay, I will attempt to resolve the issue of whether the United States should continue or discontinue the practice of capital punishment by using the natural law theory set forth by Saint Thomas Aquinas and his greatest work, â€Å"Summa Theologiae†. Saint Thomas Aquinas (1225 – 1274) was a Dominican catholic priest. Aquinas can be considered to be one of the most†¦show more content†¦The first principle of law according to Aquinas is that good is to be done and pursued, and evil is to be avoided. All other precepts of the natural law are based upon this† (ST I-II.94.2). The other precepts are self-preservation, procreation, education of offspring, seek truth avoid ignorance, and live in society. Aquinas believes the natural law is written on every human and every human has equal knowledge of good and evil; however, once individual circumstances are factored in, it is dependent upon humans to follow or ignore it. However, Aquinas believes that â€Å"the natural law, in the abstract, can nowise be blotted out from men s hearts† (ST I-II.94.6) but through bad habits of the society it could be weakened. According to Aquinas, the natural law has two main aspects. The first of these is that â€Å"the natu ral law is altogether unchangeable in its first principles† (ST I-II.94.5), which means God can add to, but not take away from, the law. This only applies to the primary precepts; the secondary precepts may change in some particular aspects. The second aspect is that â€Å"the written law is said to be given for the correction of the natural law† (ST I-II.94.6.ad 1); to put it simply, human laws are necessary to fill in the gaps/loopholes left from the natural law. Aquinas’ teachings shows that the actions of human is either good or bad depending on whether it conforms to reason. Aquinas’ view on capital punishment appears perfunctory. He believes that the state hasShow MoreRelatedEssay about Capital Punishment: An Ongoing Arguement1043 Words   |  5 Pageseffectiveness of capital punishment when concerning future violent crime rates. The death penalty is also costly when compared to the cost of imprisoning a violent criminal for life. With such a defi nitive punishment and with its finality, there have also been a large number of persons executed who were in fact shown to be innocent at a later time. 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