Financial Analysis for Managers I Coursework Example | Topics and Well Written Essays - 750 words

Financial Analysis for Managers I - Coursework Example The rent of a warehouse where these pencils are stored is $100; hence it is a fixed cost. $100 would still need to be paid whether 10 pencils are stored there or 1000 pencils. Thus with a change in production, the fixed costs remain unmoved. Cost-Volume-Profit (CVP) analysis is a managerial accounting tool that helps to identify a relationship between the cost, profit and sales volume. It is used to 1) determine the level of output required to achieve any target profit level or 2) to find the impact changes in costs to the profitability. (Mowen & Hansen, 2005) In CVP analysis, 'break even' means to produce goods at such a quantity where there is no-profit and no-loss. It is a position where the company incurs exactly the same amount that it generates from the sales. (Mowen & Hansen, 2005) A direct cost is that cost that can be directly attributable to a specific unit of product or with a specific operation relating to production. On the other hand, an indirect cost is a fixed or overhead cost that does not relate to the production of a particular item and is incurred even when there is no output. (PHB, 2005) The core activity of an accounting teaching class is to educate the students. Therefore all those items that directly relate to the educational process of accounting would be direct costs and those that do not relate to the educational process of accounting would be treated as indirect costs. The salary paid to the accounting teacher and the costs of accounting books will be direct costs since they directly relate to the teaching of the accounting course. The costs of lighting, electricity, janitorial services, etc. would be indirect costs since they just aid in the teaching process but are not directly related to teaching the course. 5. How can out-of-pocket costs and opportunity costs be applied to your personal financial decisions Out of pocket costs and opportunity costs can be applied to an individual's personal financial decisions by comparing both of these costs. If the benefit of playing an hour of football is more that the benefit of studying for an hour, then the individual should use that hour to play football. If one hour is being spent each day at a tuition center which costs $50/hour for a 4 day week, it would cost $800 for a month using up 16 hours. If these 16 hours are used for other work like taking a horse riding lesson which is $400/month, then financially taking horse riding lesso

Relationship between the oil in middle east and war in Afghanistan and Research Paper

Relationship between the oil in middle east and war in Afghanistan and Irag - Research Paper Example This has made studying personality important to ensure a productive workforce. Motivation theory is the other that has gained huge popularity due to its nature of addressing motivation needs in an organization so as to ensure success. A motivated workforce results in high productivity and creativity. This paper will elaborate these issues while offering an example of Google Inc. to explain the importance of employee motivation. According to Cole (2003) management is an area that has been studied for quite some time now with many theories coming up over the years. On the other hand management has been practiced with experimentation of the various theories developed. Management on a rather general term concentrates on organizing people’s efforts and available resources in order to achieve organizational goals while benefiting other stakeholders in the process. Achievement of goals and objectives of an organization requires the management to perform certain functions; organizing, planning, controlling and directing according to Cole (2003). In doing so the management must ensure that employees are duly motivated in order to harness their individual efforts towards fulfilling desired results. These factors form the practical aspect of management. Management theory on the other hand is a body of knowledge that aims at addressing problems in management. Planning is quite broad as it is involves formulation of both short terms and long term goals and objectives and formulating how they are to be achieved. Organizing involves developing an organizational structure where people will have tasks to perform and under a well laid out hierarchy of control. This structure is supposed to coordinate all the tasks and responsibilities. This will in turn require a team of highly motivated employees to achieve set goals. Directing involves influencing employees’ behavior by motivating them through appropriate

Healing in Marks Gospel Essay Example | Topics and Well Written Essays - 1000 words

Healing in Marks Gospel - Essay Example Further we will see that it is very arguable point. All cases of healing in Mark can be split into two broad categories: healing itself, and casting out demons and unclean spirits. The former one includes healing from fever, leprosy, paralysis, withered hand, haemorrhage, death, deafness, blindness, and in the latter one there are numerous instances of exorcism. When Jesus cast out an unclean spirit in Capernaum, it "convulsing him [a man] and crying with a loud voice, came out of him" (Mk 2:26). Whenever we read about demons and evil spirits we must remember that it's a common reference for mentally sick people of ancient and medieval times. Possessed ones actually had hysteria or various kinds of mental disorders (Crombie, 1964); belief in somebody's divinity could be a shock strong enough to cure themselves. It is important to note that at least in some cases (or even maybe in every one) it was a sick person healing himself, and Jesus was simply an agent, a catalyst. Crowds gathered around Jesus, for they believed that even a touch of his clothes could remove disease (Mark 5:28). A woman suffering from haemorrhage was healed, or maybe we should say "self-healed" in this way - in Mark 5:24-34 it is clearly shown. The woman thought that she would be healed if had touched Jesus' clothes, she believed in it. Notice that the meaning of "belief" has at least two different meanings: you can believe that Earth is round (in fact, it's a flattened sphere) but it doesn't affect your feelings, since you're not an ancient astronomer questioning the contrary. And there is belief that is somehow connected with your welfare, health or even life. Sometimes it grows up to the stage of temporary insanity, and a stress situation can have a great impact on individual. In our case we see the latter situation: "your faith has made you well" (Mark 5:34). Then the author adds: "go in peace, and be healed of your disease" to emphasise the role of Jesus. If we agree to the aforesaid, we must agree that disbelief works in adverse way. When Jesus returned to his hometown, there was no sensation, for they remember him to be just a son of carpenter. Men in synagogue demonstrated hostility against him and "he could do no deed of power there" (Mark 6:5), though healed a few people. About the same way Jesus healed Simon's mother-in-law, who had fever (Mark 1:29); a paralysed man (Mark 2); a man with a withered hand (Mark 3:5); a deaf man near Decapolis (Mark 7:31-35); a blind man in Bethsaida (Mark 8:22-26) and near Jericho (Mark 10:46-52) and a multitude of people whose diseases are not mentioned. Actually, it doesn't matter what disease was healed; it matters, how it was healed. Sanders in his book "The Historical Figure of Jesus" (Sanders, 1996, especially chapter 17) goes further and also asks about perception specifics of ancient men, what they thought they saw and what really happened. Why the blind man in Bethsaida wasn't healed from the first attempt There may be many suggestions, but I think it's because of author's attitude towards prayers. Compare the case of epileptic boy, when Jesus' disciples were unable to heal him; there Jesus emphasised the importance of prayer and faith. We don't have to pay attention on imaginary

Training & Development Essay Example for Free

Training Development Essay At McDonalds they have training that will benefit the managers for example they offer courses to the applicants. For the first 18 weeks, they will build foundations for their entire career. Amongst other things, they will discover how to prepare food, master the equipment, develop their serving ability and learn how to motivate a team. When you done well enough they will graduate to 2nd assistant manager and receive more training and experience from other managers, helping them gain more information on how to run a store of their own. As well as attending training courses, they will be asked to do some self-study and complete computer-based training programs, these will help them build knowledge about people development, cash control etc. once they have succeeded the program they will then move up to 1st assistant manager where they are able to run a store of their own. There is a session where all the managers have to attend to its called the Nuts and Balls Integrations Teams NABIT. This is where they get informed about new products, new rules and new promotions; it is their responsibility to pass that information on to their staff back at their stores. Shift Manager Roles Responsibilities The responsibility of the shift manager is to operate the Quality Service Cleanliness Value principles to the rest of the staff. The principles help the store to meet the requirements of the customers and therefore it is the shift managers job to explain them to the staff. He is also in charge of the shifts and giving the shifts to the employees, making sure that they have expertise in charge of each equipment. He also needs to rotate his crewmembers in order for them to experience each department; therefore they wouldnt have to rely on an individual. Hes responsible for training the employees as well, McDonalds use the buddy system, this system helps the employee understand how to use certain things by following orders from an experienced employee, hence the word buddy. Its his responsibility to put untrained workers on a buddy system. The shift manager is expected to handle the floor properly and spread the work within teams, giving the team leaders the orders on how/what to operate in the store. You could say that the shift manager is the right-hand man of the store manager because he is passing on a lot of delegation. Motivation The shift manager on our visit explained that he is mainly motivated by the fact that he is able to progress to become a 2nd assistant manager. You could say promotion is his essential motivating factor and McDonalds therefore have training programmes in order to meet those needs. However, he has stated that money also plays a huge part in his motivation factors. He claims that bonuses, payroll increase etc motivates him as an individual. The shift manager at the McDonalds has a lot of different motivating factors and one of them was money, which related back to the motivation theory of Taylor who suggested that money drives people working in a firm. However, he also claimed that he always looks forward to move up a position and enhance new skills and knowledge, which also could be related to theory of Maslow, who suggested the Hierarchy, meeting the needs of the employees by stages. Qualities As a shift manager, you would be expected to have certain amount of qualities including, flexibility, cooperative, experience, sympathetic, motivated, enthusiastic, optimistic, consistent and a sense of hospitality. These are very important qualities to have to gain the position at the store. The important one is to be able to give commands to teams and being able to meet daily objectives and communicating with each team. Spreading out the stronger characters with the weaker ones and balancing the strengths of the teams. According to crewmembers I have caught up with, stated that they usually spread their workers and each team would have an experienced worker and some new workers. Training and Development The shift manager has training and its both on and off the job training. He follows a course provided by McDonalds in order to enhance new skills and knowledge on how to run a business by their own. This will help them move up and open up a store of their own if success shows. They receive computer-based programs of training to take home and do some self-study; at the same time they receive training on the job where they get to experience some of the managerial work with other experienced managers.

made up Garfield :: essays research papers

It was just a day at John Arbuckle's house. As Garfield got up at 10:00 am he took a look at his calendar. He took a glance at the day of the week and mumbled "Ha, monday I need to go back to sleep." Just as Garfield was falling back to sleep John yelled "Get up you lazy cat! I need to take you to the vet for your shots." Garfield was wide-awake soon as he heard that and ran into the closet. John grumbled, " I'm not having a good day." Then Garfield opened the door and ran into the center of the room and stopped there. A few minutes later Odie came up behind him and said, "bark". Garfield sprang to the ceiling. Garfield thought to him self " Just what I was waiting for. Now John can't find me up here." "Garfield!!!" John yelled. Then "rip" the wallpaper on the ceiling ripped and down Garfield came. Yet, John grabbed him right out of the air. "OK Garfield let's stop with the games and go to the Vet." John said happily. Soon they were in John's car and going to the vet. When they got to the vet Garfield whispered to himself "Maybe if I can just stall we will miss my appointment with the vet." When they got there Garfield grabbed the seat firmly. John got out and went to the other side to get Garfield. When he got there Garfield was on the drivers side. Then John went to the other side to get him he was on the other side. John mooned " Stop this Garfield!" So John crawled threw the car and grabbed Garfield, but Garfield had clinched the seat firmly and would not let go. John pulled and tugged, but Garfield had a good grip. Then John had a brainstorm " for ones in his life". John unlatched the seat and took the Garfield and the seat into the vets. He just made it on time. John takes the seat and Garfield into the vet who is waiting. The vet was a really fine looking woman. John took one look at her and started flirting with her. They where talking when Garfield saw t his as an opportunity to get out. He jumped out of his seat and ran off into the street. He stopped and looks around this place look filmier to him. made up Garfield :: essays research papers It was just a day at John Arbuckle's house. As Garfield got up at 10:00 am he took a look at his calendar. He took a glance at the day of the week and mumbled "Ha, monday I need to go back to sleep." Just as Garfield was falling back to sleep John yelled "Get up you lazy cat! I need to take you to the vet for your shots." Garfield was wide-awake soon as he heard that and ran into the closet. John grumbled, " I'm not having a good day." Then Garfield opened the door and ran into the center of the room and stopped there. A few minutes later Odie came up behind him and said, "bark". Garfield sprang to the ceiling. Garfield thought to him self " Just what I was waiting for. Now John can't find me up here." "Garfield!!!" John yelled. Then "rip" the wallpaper on the ceiling ripped and down Garfield came. Yet, John grabbed him right out of the air. "OK Garfield let's stop with the games and go to the Vet." John said happily. Soon they were in John's car and going to the vet. When they got to the vet Garfield whispered to himself "Maybe if I can just stall we will miss my appointment with the vet." When they got there Garfield grabbed the seat firmly. John got out and went to the other side to get Garfield. When he got there Garfield was on the drivers side. Then John went to the other side to get him he was on the other side. John mooned " Stop this Garfield!" So John crawled threw the car and grabbed Garfield, but Garfield had clinched the seat firmly and would not let go. John pulled and tugged, but Garfield had a good grip. Then John had a brainstorm " for ones in his life". John unlatched the seat and took the Garfield and the seat into the vets. He just made it on time. John takes the seat and Garfield into the vet who is waiting. The vet was a really fine looking woman. John took one look at her and started flirting with her. They where talking when Garfield saw t his as an opportunity to get out. He jumped out of his seat and ran off into the street. He stopped and looks around this place look filmier to him.

Bvaria

Even after university studies, it is not always easy for refashions to stay up-to-date and at the same time trust their existing expertise. Professionals also have to be prepared to switch Jobs, get used to new working environments and stay flexible. And finally they have to deal with high expectations and the pressure to perform. Of course there are different programmer to choose from at EVIL Wakening, and one student is different from another. But many of you aspire to become professionals often in an international context, and you will come across the situation as described above. Nice you all. So what else do you have in common? You will ark with other people (colleagues, clients, commissioners) and you have to relate to them in one way or another. That means communication is central. English is crucial: you now need to learn to use spoken and written English, so that it becomes natural to you to work and learn in that language. You will need to act professionally, that means you need to show certain professional behaviors and a ‘grown-up' attitude. Other people need to rely on you and your sense of responsibility.You have to learn right (career) choices in life, and do things as well as you can without underperforming or overstretching yourself. This is why we try to prepare you for a professional career, so that you can be confident that upon graduation, you a have more than sufficient skills and knowledge, as well as the right attitude, to work in such changing environments, whilst keeping your head cool. So that, wherever you are and wherever you work, you are aware of the things that you still need to learn, but also of the things that you are good at and that you can rely on.And that whatever happens, you are prepared to find out and communicate with other people about what is needed. Whether you are working as an employee or perhaps later, in more senior position, managing others. In more formal terms, the goal of working on your competences F and G is therefore to develop students' abilities to communicate and collaborate professionally in an international context, and to engage in a process of developing themselves professionally. This is done through a combined programmer of Mentoring, Training and English sessions. In the first two terms of year 1, we take the first steps towards that goal. 1. 2 General Content The study unit is offered through a combined programmer of Mentoring, Training and English sessions. Mentoring: Topics Performance and study progress of student Professional orientation Wellbeing of student Description Monitoring of study progress and support of the individual student in relation to her/ his personal and professional behavior and development. The mentor (a staff member from the Course Programmer) supports professional orientation: at the end of term 2 in the choice of major.Training: Communication, feedback (inch. Peer assessment skills) Teamwork, Task process and team process, exercises) Refle ction Planning work and study skills Three training sessions per term in order to start understanding the above mentioned topics and begin to demonstrate skills and use tools that are practiced in the sessions. English: pre-test level 82 CHEF vocabulary acquisition listening and reading Academic Purposes Description Six sessions per term in which students first do a preliminary test.Students are instructed on vocabulary acquisition, and have the opportunity to write practice papers during the term targeted on specific purposes. Sessions further emphasize on writing skills. In addition, students practice text analysis & reading comprehension with (critical) analysis. Please note that for the English sessions there is a separate annual. 2. Competences and Learning objectives 2. 1 Competence and level This study unit develops two very related competences, which are offered for students of all Bachelor programmer of EVIL in a generic way.Competence F: To communicate in an international setting Competence F is a very broad competence encompassing spoken and written English, developing skills such as listening, presenting, interviewing, writing, working in teams effectively. It is focused on communication in the professional international setting and at times this also touches on interpersonal (life) communication skills too: egg fleeting, giving and receiving feedback, cross-cultural understanding. At higher levels the practice and understanding of similar qualities may be repeated but in more complex situations, or in a different role, egg as a manager, advisor etc.Competence G: To develop professional behavior Competence G is all about learning to adopt an attitude needed for a professional: taking responsibility, performing according to your abilities and qualities, being able to adapt to the circumstances, including handling cultural differences. This includes knowing yourself well with your strengths and weaknesses, acting upon those nakedness egg by setting l earning goals for yourself. Again, the focus is on qualities needed for a professional attitude but these qualities are never far from more general life qualities, egg setting priorities, making choices.It is obvious that professional behavior is often very much integrated with communication (so with competence F) and therefore the two competences are usually mentioned together. In the first year of studies these competences are offered at level 1: Please be reminded that for the English sessions there is a separate manual. 2. 2 Learning objectives The objectives for this study unit (terms 1 and 2 of year 1) are as follows: Students show knowledge and understanding of interpersonal professional communication, and of the importance developing these competencies for their studies at EVIL.Students show reflection skills focused on their teamwork experience and begin to use different instruments to study effectively, to communicate and develop professionally. Students begin to feel at e ase with using the English language on a daily basis and learn to use it correctly and independently in a professional and academic context both in verbal and written forms. Level of English is based on the Common European Framework of Reference (CHEF), year 1: Bal for reading, listening, 2. Professional role The relevance of what students learn in this study unit is that it gets them started in their studies and the way of studying and learning at EVIL. This includes how to get to grips with a task as a team. Besides teamwork, we also wish to train students in becoming reflective about the quality of their (team) work: how did it go? What was my role? What did others do? How could I do better next time? In many professional situations team work is a key feature of day to day work and by starting to do this early on, we intend to train students thoroughly.We use the same teams that work together on assignments for other study units. 3. Learning methods and Learning activities 3. 1 G eneral outline Generally speaking there are 3 methods of teaching and learning in the study unit Professional Behavior and Communication, and they complement each other. On Blackboard you will find an overview of different activities related to the first and second term of BBC under the name Timeline BBC. Mentoring: Mentoring means the monitoring of your study progress and supporting you as an individual student in relation to your personal and professional behavior and development.The mentor is usually a staff member from your Course Programmer and will also support you in your professional orientation, for example at the end of term 2 in the choice of major. In the mentoring time, you have individual meetings with your mentor. In several cases you have to prepare yourself for such meetings, for example by writing something in advance and by placing it on your own digital space on Blackboard. Usually your mentor will meet her or his group of mentoring students (10 students) all tog ether, in the first or second week of each term.After that, 2 individual meetings will be held each term and you and your mentor have to arrange for this. Training: Each term, three training sessions (of 3 hours each) are held. These trainings are interactive group sessions, where a lot of communication skills and certain tools are being practiced and discussed, and real-life situations are simulated. Your trainer is a specialized communication trainer and he or she will not be afraid to challenge you ND invite you to go Just a little further than what you normally do. Trainings are often fun but of course it is all about very serious and real competences to be developed.In several cases you have to prepare yourself for your training, for example by self-study (reading or writing something in advance) and bringing examples from your own experience to the training room, and/or by placing something you have written on your digital space on Blackboard. English: programmer of self-study as instructed in the separate manual. At the beginning of the first term students do a preliminary test. Students are instructed on vocabulary acquisition, and have the opportunity to write practice papers during the term targeted on specific purposes.Sessions further emphasize on writing skills. In addition, students practice text analysis & reading comprehension with (critical) analysis. Please be reminded that for English there is a separate manual. 3. 2 Supporting lessons Mentoring programmer Term 1 1 . Plenary introduction to BBC by the co-ordination: What is BBC, meaning of competences F Pathway of year 1 focusing on BBC Important tips (use of your digital space on Blackboard, prepare for your sessions) 2. Group meeting with your mentor: Getting to know your mentor and each other Submitting your c.v. and portrait 3.Two (2) individual meetings with mentor: Discuss progress and difficulties: study skills, team work Term 2 4. Study Abroad Event in week 1 5. Group meeting about c hoice of major and placement (with mentor or otherwise) 6. Two (2) individual meetings (or 3 very short ones) with mentor: Discuss results of first term, discuss reflective report written for assessment term 1 Discuss progress and difficulties: study skills, team work Training sessions 1 . Introduction to communication and Team work l: What is communication and why is it so important?What is the scope that we have in these trainings? What is Team work? The 3 aspects of team work: Product (or task), Task process, Team process. In this term we'll focus on Task process: the ‘hardware' of the collaboration process, or the procedures and steps involved. Practicing with task process (exercise in class). How to make sure to use this in your term team assignment? 2. Study skills: Discussing and practicing different skills: Planning, preparing, reading books, writing an action plan, summarizing, repeating, asking questions. Discussing experiences with teamwork during the term.Tips for improvement. 3. Reflection I and Practice for assessment: What is reflection and why should we reflect? Report. Practicing the procedure for the assessment. Term 4. Teamwork II: Looking back in plenary on Task process in 1st term. Lessons learnt Repeating 3 aspects of Team work, now focus on Team process: the ‘software' of collaboration. Exercise with team work, focusing on team process 5. Face to face communication skills: Discussing and practicing different skills: listening, summarizing, asking questions, rephrasing, non-verbal reactions.Feedback: rules of giving and receiving feedback, Shari window. 6. Preparing for a Personal Development Plan: Using a format for a PDP Formulating SMART: what is it, why is it important. Practicing the use of the format in a SMART way English sessions Be reminded that for English there is a separate manual, giving you all the details of the lessons and preparations needed. 3. 3 Assignments On Blackboard you will find an overview of differen t activities related to the first and second term of BBC under the name Timeline BBC.In this ‘Timeline' you also find products that we expect you to submit or upload on your digital space in Blackboard. In summary the assignments for mentoring and training (not including English) are as follows: Week 1 – Initial choice of major – for mentor, major co-ordination and programmer co- ordination. Week 2 – Submit your c.v. and portrait by uploading on your digital space on Blackboard – for mentor. Not marked Week 8/9 – Write reflective report for assessment. Exact deadline to be communicated by trainer. Upload on Blackboard – for assessor to be marked, also visible for mentor. Term 2End of week 8 – Write and submit Personal Development Plan including initial choice of major and an image of your ‘dreamed' first placement. Upload on Blackboard – for mentor, also visible for trainer. Not marked, but will be subsequently disc ussed with mentor at the beginning of term 3. In addition to the above, you are strongly advised to prepare for the individual mentoring meetings by thinking about how you are doing study-wise, what needs your special attention, what should be discussed with the mentor, This may also include writing down a number of points. 4. Examination 4. 1 General outlineFor this study unit, two partial examinations are organized, WAGE PAW (40%) and WAGE PAW (60%), together providing the final grade for this study unit. Together the two exams need to have a weighted average of 5,5 to pass the study unit (of 5 SEC). Examination in term 1 Type of assessment: team meeting (week 7 or 8), individual written paper (week 8/9) In week 7 or 8 a team meeting is organized for the team that worked together during term, under guidance of the trainer, in which a ‘peer assessment' is carried out, with a duration of 45 minutes total. Immediately before this team meeting, students get 30 minutes to prepare individually.The peer assessment discusses task process (procedures, road map, methods) and team process (task sharing, team meeting skills, communication skills). Afterwards, at home, students write an individual reflection paper (based on a format) about teamwork during the term and taking on board the feedback from peers. Paper is marked. The procedure of the peer assessment will be practiced during one of the training sessions. WAGE PAW â€Å"Writing a formal paper† Examination in term 2 Type of assessment: written exam The written assessment takes place in a computer room on a stand-alone computer, o students can only use Word.Students are allowed to bring dictionaries and grammar reference books, which are clean (no notes inside) and may be inspected by the supervisor. Students get a writing assignment at the start of the assessment and then write a paper (memo, letter, report, proposal, essay) of about 350 words in 120 minutes. Topic of the paper is only known in the exam room. Paper is assessed on English proficiency using criteria such as accuracy of grammar and vocabulary, mindfulness of organization and structure of paragraphs, and awareness of style and audience. 4. 2 Criteria and gradingWAGE PAW â€Å"Reflecting on team work† Bottom mark: 5 Weighing: 40% Marking criteria: Student is capable of writing a 750-1000 words reflective paper, in which the opinions of others are compared with those of self. Student uses the offered format for reflection. Student selects relevant situations and can formulate appropriate reflection questions about these situations. Student draws conclusions and lessons learnt. Weighing: 60% Students can write an accurate, formal paper Students start becoming aware of and are capable of applying basic rules of paragraphing and layouts of different types of professional and academic comments.Students start becoming aware of differences in formal and informal writing styles Students start increasing their corpus of active vocabulary in both writing and speaking. Together the two exams need to have a weighted average of 5,5 to pass the study unit (of 5 SEC). 4. 3 Resist A partial examination has to be retaken when the grade is lower than 5. When both partial exams are 5 or higher but the weighted average is lower than 5,5, the student can choose which exam to resist. Both partial examinations can be retaken in the term following the normal assessment moment.

Factors Responsible for the Change in Coca Cola Company

Factors responsible for the change in coca cola company Change Management in Coca-Cola Corporation Change is significant, prolonged and disruptive In this attribute, change in an organization includes venturing into new areas of business, such as entering new products in the new market, facing an unexpected event such as economic crisis and redirection of the company. Change is a continuous process of alignment According to (), an aligned organisation must have a continuous synchronization of the important management levers such as strategy, operation, culture and reward.Moreover, discussed that in these management levers, the managers, chief executive officers and supervisors are responsible for manipulating and rearranging both the human and non-human elements. In addition, discussed that change is an important aspect in the business world especially in technology and innovation, from simple technologies and procedures up to more complex operating environments, nowadays technologie s and products are coming together to achieve a common conclusion or objective. Organisations that resist changes will inevitably face wider exposure to risks and losses.There are a number of situations in which change is necessary within the organisation such as technological advancement that is being utilised by different companies in order to cope up with the competition. Aside from what was mentioned earlier, there are still many issues and concerns that are necessary for change in the organisation, however the most substantial thing is that organisations acknowledge that changes happen constantly for different reasons and the management must address these changes as soon as possible to prevent great losses.Why an organisation does undergo changes? What are the factors and reasons for undertaking it? According to MacCalman and Parton the most influential factor in changes in organisations is the external environment which instigates reaction. Some of the examples given by MacCal man and Parton in the external environment that triggers changes in the organisation are: †¢Changes in technology being utilised †¢Changes in the tastes and expectations of the consumers †¢Changes due to competition †¢Changes because of legislation by the government Changes due to modifications in the economy whether locally or internationally †¢Changes in the communications media †¢Changes in the value systems of the society †¢Changes in the supply chain †¢Changes in the distribution chain The second factor that initiates change in the organisation is the internal changes which are the reactions of the organisation to the external changes. Aside from the responses there are also some factors that contribute to the internal changes, an example of this is a new marketing strategy for existing and new products.And finally, changes in organisation happen if they try to act in advance in order to deal with the expected risks and difficulty. An exa mple is when an organisation anticipates the problems that may occur and creates and devises plans to combat and negate the impact of those problems. Change Management Nickols (2006) has four basic definitions of change management, according to him it is a task of managing changes, a field of professional practice, a body of knowledge and information and a control mechanism.Task of Managing Change- Nickols defined managing changes as â€Å"the devising of transformation in a planned and systematic fashion. † He stated that the main objective of managing change is to efficiently implement new techniques and methods within the organisation, moreover the changes to be handled depends upon the control of the organisation. Aside from the definition mentioned earlier, Nickols also has a second definition on managing changes and it is â€Å"the reactions to changes in which the organisation has no control. â€Å" Area of Professional Practice- in what way professional practice cam e into managing changes?Are there any relations between the two? Years ago, managing changes in a corporation is done by the management, supervisors, and CEO of the company, but nowadays with the constant change in the concepts of business and evolution of new theories a number of people have developed firms that particularly addresses the issues regarding managing changes. According to Nickols there are a number of individuals and consulting firms that declare they engaged in activities that involves planned change and that the firm exercises change management practices.A Body of Knowledge- The body of knowledge in change management according to Nickols includes the following, models, methods and techniques, tools and various forms of knowledge that constructs the change management practice. Moreover, Nickols discussed that the content of change management is influence by sociology, psychology, business administration, industrial engineering, economics, systems engineering and huma n and organisational behaviour. Control Mechanism- over the past years groups and individuals handling the information systems of organisation have tried to control and direct changes to the applications and systems of the company.External Environment- over the past decades, the Coca-Cola Company has faced a number of changes in the external environment that have transformed the management of the company. One of the best examples is during the World War II. The company was able to maintain the status of the company, at the same time, was able to enter new markets despite the environment. Instead of lying-low because of the war, the company became more aggressive through providing free drinks for the GIs during the World War II. Through this the corporation was able to hit two birds at one stone.First, because the carbonated drinks sent by the company, it became a patriotic symbol by the United States soldiers in which led to consumer loyalty. Second, the company was able to take adv antage of the situation and established the product in newly-occupied countries by the Ally forces and because of that the company established plants in various locations worldwide paving the way for its post-war expansion. Another aspect in the external environment is the change of taste and expectations of the consumers.During the mid-1980s wherein the Americans favoured the sweet taste of the rival product, the company created its counterpart but became a commercial failure; however instead of backing down, Coca-Cola changed its management strategy and returned the old formula, and just renamed it as Coca-Cola Classic. And with the rise of obesity in the United States and consumers became health conscious the company released new versions of Coke in order to address the needs of these type of consumers, such products include Diet Coke and Coca-Cola Zero.In addition, according to Bool (2007) companies such as Coca-Cola are compulsory to transform due to trends that have a huge imp act on their business, and one of these trends is the health and fitness. A number of people are noe investing more in their health, and in order to keep up with the trend, Coca-Cola introduced their new product which is a calorie burning soft drink, the Enviga. Moreover, Coca-Cola is collaborating with the Swiss company Nestle. Coca-Cola is dealing with innovation and change. During the Asian Financial Crisis, Coca- Cola was also triggered to change its course of management in that particular region.The responses and reactions of Coca-Cola with the external environment are its internal changes. Internal Changes- as mentioned earlier, Asia experienced its financial crisis in 1997. According to (2002) as the financial crisis swept the Asian region, the chief executive officer, responded to this by mobilising his executives to workshops about how Coca-Cola would seize new growth opportunities. stated that Coca-Cola gave emphasis on acquisition opportunities, Coca-Cola bought acquired bottling business in South Korea which gave more access in retail stores in South Korea, as well as, better entry in China, Japan and Malaysia.Coca-Cola disregarded its country-defined market perspective and focused on regional strategic view and acquired local brands of tea and coffee. In the case of health trends and changing taste of the consumers, Coca-Cola responded to this through innovation and change. Innovation is accomplished through development of new products such as the Enviga, Diet Coke, Coca-Cola Zero, and other variants of Coke. The change is incited by the trend in health and fitness and consumer tastes which had an impact on the business of Coca-Cola.