Chemical Engineer Salary and Experience

Chemical Engineer Salary and Experience Chemical engineering is one of the highest paying degrees for entry level jobs, with even higher payscales for experienced chemical engineers. Chemical engineers tend to be in high demand and are much more employable than chemists. Heres a look at typical salary ranges for chemical engineers. Chemical Engineer Salary Survey Based on Experience Chemical engineers can earn good salaries straight out of school, but years of experience or higher education can double the salary rate. Chemical Engineer 1 Year Experience: $51,710 - $66,286 Chemical Engineer with 1-4 Years Experience: $56,206 - $70,414 Chemical Engineer with 5-9 Years Experience: $64,618 - $84,199 Chemical Engineer with 10-19 Years Experience: $74,546 - $101,299 Chemical Engineer with More than 20 Years Experience: $83,304 - $126,418 Salary survey based on experience is from PayScale.com. According to the US Department of Labor (2008), the median salary for chemical engineering was $78,860. The middle 50% of chemical engineers had salaries between $67,420 and $105,000. The UKs Institution of Chemical Engineers (2006) reported the average starting salary for chemical engineering graduates was  £24,000, with an average salary for all chemical engineers of about  £53,000.

Accounting Analysis of the 2011 Annual Report for Bank of Queensland Limited Essay Example for Free (#2011)

Accounting Analysis of the 2011 Annual Report for Bank of Queensland Limited Essay ? The aim of this report is to provide an accounting analysis of the 2011 annual report for Bank of Queensland Limited (BOQ), and a critique of the reporting of their performance. The report discusses the choice of accounting policies and the flexibility of these policies. The main objective of this report is to evaluate and recognise the possibility of using creative accounting within the company, recognise and questionable accounting numbers within items listed previously. A number of items have been selected from Income Statement, Balance Sheet and Cash Flow Statement. Bank of Queensland Limited (BOQ), has history of 137 years with network of over 280 branches operating in Queensland. It offers core banking (commercial/retail), equipment finance, wealth management and insuranceservices. BOQ is listed on the ASX and uses its unique concept of the Owner-Managed Branch (OMB),a partnership between the Bank of Queensland (franchisor) and experienced bank managers (franchisees) to provide banking services. 3. Description of key accounting policies and standards 3.1 Loans and advances at amortised cost (Asset) As shown on BOQ’s Balance sheet in FY11, loans and advances at amortised cost are big-ticket itemsin its assets accounting for approximately 98 per cent. According to the significant accounting policies explored by BOQ annual report 2011, loans and advances are originated by the bank and are recognised upon cash being advanced to the borrower. Based on AASB13, loans and advances are initially recognised at fair value plus incremental direct transaction cost using the effective interest method. 3.2 Deposits and borrowing (Liability) Deposits, as the one of the most important cash inflows of the bank, follow ruleAASB13 as well. They are initially recognised at fair value plus transaction costs and thenby using the effective interest method, they are measured at amortised cost. It is classified in two concentrations: retail deposits and wholesale deposits. This item follows AASB119Employee Benefits which has been amended in its accounting rules affecting the measurement of its obligations and the timing of recognition of termination benefits. Employee benefits can be classified to four categories: wages, salaries and annual leave; long service leave; superannuation plan and share based payments. 4. Flexibility of Management in Selecting the Key Accounting Policies It is undeniable that having flexiblemanagement can exert positive effects on the presentation of company’s annual financial report. Specifically, from the Bank of Queensland ´s perspective, if mangers have considerable adaptability in selecting the key accounting policies, the financial performance of Bank of Queensland Ltd can be improved; therefore more investors and customers would give priority to cooperating with them in the future. 4.1 Loan and Advances at Amortized Cost 4.1.1 Flexibility Analysis The measurement of loans and advances at amortized cost is extremelyfavourable to commercial banks. From BOQ’s consolidated financial annual report, the loan and advances at amortized cost accounted for around 83.3% of total assets in 2011, it had increased from 31,736,5 million to 33,276,1 million during 2010 to 2011. This change in $1539, 6 million was caused by impairment charges made by managers of the bank. The increase of loans and advances at amortized cost could enhance the customers trust in the bank. Sincefinancial funds, credit business and debts are the core business transaction of the banking industry, this itemappears to increase receivable accounts. Also, as banks could charge a reasonable rate of interest on such future loans/advances, they are able utilizethis income to pay current liabilities, wage and salaries of employees, and also the tax liability of business. Consequently, the BOQ’s managers have selected a flexible accounting policy in this item. Being dominant in the assets, loans and advances at amortized cost carries the burden of generating cash. The way that Bank of Queensland recognizes loans and advances at amortized cost can be separated to two phases. Initially, loans are recognized at fair value plus incremental direct transaction costs. Secondly, BOQ uses effective interest method to measure the amortized cost at each reporting date. The advantage of this accounting policy is that including direct transaction cost in the loan price can offset the actual transaction cost occurred and maximize the profit for the bank. Additionally, the effective interest method is considered as one of the prior methods for amortizing a bond discount. Theoretically, investors require a discount on bonds because the market interest rate at the time of issue is higher than the coupon payments on the bond. Therefore, by amortizing the discount at the market interest rate, accounting statement of Bank of Queensland will exactly reveal the economic reality of the bond issue and its true cost of debt. 4.2.1 Flexibility Analysis Due to the characteristics of banking industry, there is a high flexibility for management in these two liabilities. It is noticeable that deposits and borrowing accounted for about 97% of total liabilities on the balance sheet. Occupying 69% of total deposits, managers pay more attention to Retail Banking Services because of itsattractiveness to customers compared to other types of deposits. This policy states that securitization set-up costs relating to on-balance sheet assets are included with securitization borrowings, and amortization is recorded as interest expense. Initially, excluding off-balance sheet costs makes the liability much smaller and enlarges their net assets. Likewise, interest on debt is a tax-deductible expense and creates a tax shield benefiting Bank of Queensland. The major function for this policy is to save cash flows for BOQ. 4.3.1 Flexibility Analysis Employee expenses mainly consist of share based payments and employee benefits. All of these kinds of financial activities are beneficialto BOQ.The result from increasing incentives to employees applies as it encourages them to performenthusiasticallywhicheventuallyleads to higher profits for the firm. Among Employee Benefits, shared based payments are distinguished. The accounting policy demonstrates that Bank of Queensland allows employees to acquire its shares, options and rights sold recognized in the Employee Benefits Reserve. This expense could be reversed if the loss is not due to a market condition. This is highly beneficial as it encourages employees to purchase shares of their own company but, on the other hand, as more shares are sold, the higher price rises in the stock exchange. 5. Quality of Disclosure Made in BOQ Accounts The quality of disclosure in the BOQ ´s policies, strategy, performance and financial statements and reports is satisfactory as it provides accessible, transparent and fairly justified information. As the BOQ is a listed company, it has to comply with all ASX disclosure policies and reporting but in addition it also complies with the ASX Corporate Governance Recommendations as well as the Australian Prudential Standards (APS) (Profit Announcement 2011). In the profit announcement report for 2011, BOQ discloses a number of disclosure principles which include management, board structure, ethical and responsible decision making, financial reporting, timely and balanced disclosure, respect rights of shareholders, recognize and manage risk, remuneration. 5.1 Business Strategy and Economic Consequences The business strategy and economic consequences are disclosed in the notes to the annual report in terms of the risk management of the company. As it explains in these notes the bank approach is to manage its risk in terms of credit risk, market risk, liquidity, operational risk, compliance policies and capital management. As it states in the annual report there is a high level of assessment and monitoring of these risks in order to follow the company ´s strategy. 5.2 Notes to the Financial Statements – Explanation of Policies The notes to the financial statements and reports do provide an explanation to the bank ´s management policies. According to the 2011 Annual Report these policies provide effectiveness and efficiency in terms of managing the risks described above as well as creating controls to support growth and competitive advantage. An example of these policies in 2011 was a strong expense management which lead them to reduce their cost-to-income ratio from 45.8% to 44.5%. Moreover, these policies provide regulatory compliance as well as performance management. 5.3 Explanation of Current Performance BOQ through its yearly Profit Announcement Report clearly explains its current performance in terms of its principal activities. It states its current level of profitability and the main reasons for any losses. As well as these profit or losses explanations the report shows explanations for changes in expenses, asset growth, retail deposit growth, branch network expansion and capital management. In terms of financial conventions that restrict the firm as a banking institution, the main one is the Basel II Accord in which the bank is obligated to maintain capital adequacy requirements. In the 2011 Annual report is mentioned that Tier 1 capital made up of equity capital and disclosed reserves was higher than required by Australian Prudential Regulation Authority (APRA). Moreover, AASB 124 Related Party Disclosures is additionally disclosed in order to understand the impact on the firm. Moreover it discloses all its consolidated statements for all subsidiaries of the group following all consolidation standards. The quality of the segment disclosure for BOQ is sufficient as it discloses its two operating segments, and since the bank operates only in Queensland, it does not need geographical segmentation. It discloses the high level metrics for both of the banking and insurance segments as well as consolidated totals (Annual Report 2011 pg. 89). Also, following consolidation requirements it eliminates inter-company transactions (Annual Report 2011 pg. 89). The most important and questionable numbers can be seen in the yearly Profit Announcement where BOQ announced a net loss after tax of 90.6 million AUD. The explanation for this loss was attributed to significant impairment charges. As the income analysis shows that the company made a reasonable operating income loss, but the large part of the loss was due to a revision of their commercial loans and provisioning approach. They decided to increase these specific commercial loan provisions more than close to 90 million due to the continuous decline in commercial property in Queensland. Along with loan impairments, the bank also impaired a substantial amount of assets, also because of the decline if commercial property. Furthermore in the Directors Report in 2011 there were some potential red flags regarding remuneration. As the bank went through a restructure last year there were a number of high level managerial positions that changed in this period. During this transition there were a number of payments classified as  ´others` that did not have a clear explanation. An example of this includes a payment of half a million dollars to the previous CEO to  ´ensure a smooth transition` between him and the newly appointed CEO. While taking into account the Director ´s report is audited by KPMG, this payment seemed excessive. Based on previous parts, the conclusion has arrived that BOQ suffered net loss of $90.6 million because of the tremendous growth in impairment loss. The footnote disclosures in the Profit Announcement provide the composition of the impairment loss. According to note 11, loan impairment expenses totalled $327.7 million. $165.7 million of this amount is specific provision impairment and the rest $162 million relates to collective provision. Moreover, impairment loss for assets also amounts to $578.7 million. Note 4suggests that BOQ ´s management increase its impairment loss based on their estimates of dropping commercial property market. However, this estimate comes from historical experience and professional judgment. In contrast, the estimate might be different from actual results. Therefore, distortions may arise resulting from overstated impairment loss. In order to undo the distortion, the impairment loss should have been adjusted to a lower level with fewer provisions. Even before the Profit Announcement of BOQ came out, many financial reporters foresaw the net loss of BOQ resulting from increasing impairment loss. The downturns in tourism and recent natural disasters impacted Queensland’s economy negatively, and the conditions in Queensland were expected to remain challenging in the future because of strong Australian dollar. As a result, for BOQ— a company that is highly exposed to Queensland housing market, the current poor performance of might not change in short term.Following by the poor performance, BOQ isnow struggling to keep regulators happy and keep its capital at acceptable level. On 26 March 2012, BOQ announced aequity rising of $450 million. However, by doing this, the existing shareholders of BOQ will be heavily diluted and it will cause its share price to drop significantly. Accounting Analysis of the 2011 Annual Report for Bank of Queensland Limited. (2017, Feb 07).

HR practices Business Article Example | Topics and Well Written Essays - 1000 words

HR practices Business - Article Example According to the author evaluating the human resources practices of a firm can help you find way to better employ the talent a firm has (Durkin, 2011). A technique or tool that was mentioned in the article that can help managers evaluate their human resources practice is HR audits. The use of an HR audit can give a manager assurance that the human resources practices of the company meet the current legal standards and uphold the internal policies of the company. It can be beneficial for professionals in the HR industry to belong to professional organizations. An organization that has a lot credibility and power in the industry is the Society for Human Resource Management. The organization’s website has a HR audit tool kit that can be used to perform a preliminary audit of the HR function of a firm. The HR function of a company does not replace the necessity for a legal department. Companies can save money on legal expenses by having a lawyer firm on retainer rather than pay a fixed monthly payment to the lawyers of a department. The implementation of an HR audit can help the firm identify potential legal risks associated with its handling of human resources. The strategy is a proactive approach towards risk management. A problem that is occurring often in corporate America is a lack of knowledge about HR regulations and laws. A lot of companies in the United States are breaking labor laws unknowingly. The fact that many companies do not know the laws does not exempt them from compliance. â€Å"One fundamental human resource function you should inspect is the gathering and filing of employee information, from the application to the termination of employment, and all documentation in between† (Durkin, 2011). A common problem in regards to this type of documentation is proper safeguarding of the information. It all starts with the simple things such as having an employee filing cabinet with a key. The human resource department should separate the per sonal information of employees in various categories. There is sensitive information such as social security number, age, medical record or disability data that should not be in the normal employee file that the managers have access too. Access to such data can lead potential discrimination from the managers towards a specific employee. Companies also have to comply with the Family Leave Act. Employee record retention requirements vary by state law with some common federal laws. Confidential information must be protected to protect both the employer and the employees. The Equal Pay Act of 1963 stipulates companies must keep payroll records up to three years. A topic in human resource that was often discussed in class that I believe should have been talk about more in the article is training and development. The author mentioned that it was important for companies to invest in its human resources, but he did not provide solutions to solve the problem. The performance of employees in a corporation can be improved through training and development. The proper use of training and development can improve the employee retention rate of the company. Investing in training and development should be a company wide initiative, but the firm must also identify talent that deserves advance training because the company determined that the employee has potential. The managers of corporations should receive more training than any other employee since they are responsible for the performance of

Standard Deviation and Outliers Assignment Example | Topics and Well Written Essays - 250 words

Standard Deviation and Outliers - Assignment Example Thus, it can be seen that a single point that is far away from all the points increases the standard deviation by a big amount that is from 1.58 to 6.68. Therefore, there is a great impact of the new point on the standard deviation. b) Create a data set with 8 points in it that has a mean of approximately 10 and a standard deviation of approximately 1. Use the 2nd chart to create a second data set with 8 points that has a mean of approximately 10 and a standard deviation of approximately 4. What did you do differently to create the data set with the larger standard deviation? (4 points) Notice that the standard deviation is 0. Explain why the standard deviation for this one is zero. Do not show the calculation. Explain in words why the standard deviation is zero when all of the points are the same. If you don’t know why, try doing the calculation by hand to see what is happening. If that does not make it clear, try doing a little research on standard deviation and see what it is measuring and then look again at the data set for this question. The standard deviation is zero when all of the points are the same. This is because standard deviation measures the individual data point deviation (variation) from the mean value. The standard deviation is a single number that helps us understand how individual values in a data set vary from the mean. When all the points are same, then the mean value will be also the same point and hence deviation of all the data points from the mean value will be zero. Since, the deviation of all the data points from the mean value is zero in this case; therefore, the standard deviation is zero when all of the points are the same. When all the value are the same then mean value, will be also the same and hence the value of for individual data point will be zero, and the sum will be also zero. Therefore, the standard deviation is zero when all of the points are the same. 3. Go back to

Hospice in the United States Essay -- Hospice Terminal Illnesses Cance

Hospice in the United States Hospice is a concept of caring borrowed from medieval times, where travelers, pilgrims and the sick, wounded or dying could find rest and comfort. The contemporary hospice offers a program of care to patients and families facing a life threatening illness encompassing medical, nursing, spiritual, and psychological care. It is more than a medical alternative, it is an attitude toward death and the process of dying. Terminal disease is managed so patients can live comfortably until they die. The hospice program in the United States has evolved in part as an attempt to compensate for the inadequacies of the present medical system, particularly in caring for patients with a terminal illness. Hospice care has grown from an alternative health care movement to an established component of the American health care system. The modern hospice movement began in 1967 when Cicely Saunders opened St. Christopher's Hospice in London England. In the late 1960’s, several Yale University student s invited Dr. Saunders to come speak at Yale. These students were inspired to create a similar service in the United States. They opened the Connecticut Hospice in Branford, Connecticut and pioneered the hospice movement in the United States. This became the nation’s first specially designed hospice care center. What is Hospice care? In an attempt to answer, the World Health Organization (WHO) issued a statement in 1990 about the philosophy and techniques of hospice care. A.  Ã‚  Ã‚  Ã‚  Ã‚  Hospice affirms life and regards dying as a normal process. B.  Ã‚  Ã‚  Ã‚  Ã‚  Hospice neither hastens nor postpones death. C.  Ã‚  Ã‚  Ã‚  Ã‚  Hospice provides relief from pain and other distressing symptoms associated with dying. D.  Ã‚  Ã‚  Ã‚  Ã‚  Hospice combines aspects of psychosocial and spiritual care. E  Ã‚  Ã‚  Ã‚  Ã‚  Hospice offers a support system to help patients live as actively as possible until death. F.  Ã‚  Ã‚  Ã‚  Ã‚  Hospice offers a support system to help the family cope during the patient’s illness and during the bereavement process. We can see that the hospice concept is a bio-psychosocial approach to the dying process, concerned with biological, psychological, and social health. Because of its proponents, Hospice is considered a more humane and sensible approach to terminal illness, combining care, comfort, and support of family and friends as the individual faces death. Their concern for dignity and fo... ...age dementia: A national survey of hospice programs. Journal of the American Geriatrics Society, 43(1), 56-59 Mesler, M. A., & Miller, P. J. (2000). Hospice and assisted suicide: The structure and process of an inherent dilemma Death Studies, 24(2), 135-155 Newsome, B. R., & Dickinson, G. E. (2000). Death experiences and hospice: Perceptions of college students. Death Studies, 24(4), 335-341 O’Connor, P. (1999). Hospice vs. palliative care. Hospice Journal, 14(3/4), 123-137 Paradis, L. F. (1984). Hospice program integration: An issue for policymakers. Death Education, 8(5-6), 383-398 Russell, G. M. (1985) Hospice programs and the hospice movement: An investigation based on general systems theory Dissertation Abstracts International, 45(9), 3082 Simson, S., & Wilson, L. B. (1986) Strategies for success: An examination of the organizational development of early hospice programs. Hospice Journal, 2(2), 19-39 World Health Organization. (1990). Hospice Facts [On-line] Available HTTP://www.cp-tel.net/pamnorth/facts.htm Zehnder, P. W., & Royse, D. (1999) Attitudes toward assisted suicide: A survey of hospice volunteers. Hospice Journal, 14(2), 49-63.   Ã‚  Ã‚  Ã‚  Ã‚  

Green Power

Cleaner electricity generation is on its way for full implementation as many of power consumers are now aware how could avail of it. In the official blog site of the US Environmental Protection Agency, many of its visitors had said in their comments that they had already installed or purchased from a private electric company a way how could they use green power.Some had also leaved a link to the sites of their energy provider that gives them an option for cleaner energy generation. But others still had said that they could not choose to opt to green power because of area and cost constraints.People who had said that they had installed solar panels and/or avail power generated through wind or geothermal admits that they pay more for their electricity consumption as compared when they were not using it. Since conversion into cleaner energy consumption would cost more to the people, they might rather ignore their wish to take part with a cleaner environment. Some even says that going in to cleaner energy generation is just propaganda of electric companies that would mean more profit on their part.Some still had said that they had no choice whether to use green power or not because it’s their individual power provider could only decide. As I had completed browsing all of the comments, I suggest that yes there is a need for a greener electricity generation but the problem is that people where afraid of their initial additional cost. Yes, it cost more than the regular energy we consume from burnt coal but like what one comment had said, people are not aware of the hidden cost the people might suffer if we continue using it because experts says that burning coal adds up to the air pollution.As we enter into the era of information age, ideas are now easy to disseminate through all of the high tech devices and technology the modern day gives such as the computers and the internet. But we should be careful of what would we should acquire of these ideas since some o f them cannot be fully relied on. Support of experts in such field such as EPA could give as a somewhat assurance that what we learn is what we should. References Greenversation, Question of the Week: Why are you or aren’t you buying green power? Retrieved May31, 2008 from http://blog. epa. gov/blog/2008/05/27/qotwgreenpower/

Systems Thinking - Theory Practice - Free Essay Example

Sample details Pages: 7 Words: 2166 Downloads: 4 Date added: 2017/06/26 Category Education Essay Type Research paper Did you like this example? Systemsà ¢Ã¢â€š ¬Ã¢â€ž ¢ Thinking Theory Practice Table of Contents Question 1à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.3 Spray diagramà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦3 Closed loop control model diagramà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.4 1. Learning disabilitiesà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.5 2. How a split between espoused theory and theory in use can affect organizational learningà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..7 3. Five disciplines discussed by Taggart for overcoming the learning disabilitiesà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦8 4. Principles of Systems thinking, its role and effectiveness in Problem Solving and Decision Makingà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..9 Referencesà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦10 Don’t waste time! Our writers will create an original "Systems Thinking Theory Practice" essay for you Create order Question 1 (A) Spray Diagram Fig1: Spray Diagram of learning organizations. According to Jim Taggart, this spray diagram has been drawn which explains main system which is the learning organization. Two of their subsystem is also explained which the learning disabilities that hinder in organizational are learning. These disabilities are individual goal and personal position/status, blaming others for the consequences of the decisions, focus on the dramatic events rather on the subtle events which need more focus, resistance to change and lack of communication system. These disabilities are the ones causing problems in organizational learning. These learning disabilities can seriously affect organizational learning and can create gap between employees and management which can be detrimental for organizations. Management should focus on decreasing or overcoming these disabilities which can increase organizational learning and performance of organizations. Second learning subsystem is the learning discipli nes which are used to overcome these disabilities. These disciplines are personal mastery, shared vision, team learning, mental models and systems approach. These disciplines can increase organizational learning and can also improve performance of the organizations. These disciplines when implemented can increase Mutual Corporation among staff and can create better organizational culture. (B) Closed loop control model diagram Team Learning Learning Disability Personal Mastery Shared Vision Systems Approach Mental Models Creating a learning Organization Employees/Management Fig2b:Closed loop control model diagram. Control loop model diagram is about the input/output, transformation and controls of the system. These controls are sensor, actuator and comparator. The purpose of this diagram is to understand organizational learning in more depth by understanding the input and output of the system through transformational processes. Here the inputs are the learning disciplines such as personal mastery, team learning, mental models, systems thinking and shared vision. Sensor of the system is the organizational culture that can be affected through transformational process. Actuator is about the learning disabilities .Input of the system is controlled by comparators. Here feedback is considered important through which input are sent by comparator to actuator. Through this diagram it can be understood that how learning organizations work through input and output process. (C) 1. Learning Disabilities According to Senge (1990), seven learning disabilities have been identified in learning organization system. These disabilities can affect behavior of employees and can influence culture of the organizations. First disability is known as I am my position which is about the natural behavior of people about their status and position. Most of the people regard their status and position as the only source of power to take decisions about the organization. Employees only work their part and accept responsibilities associated with it and they donà ¢Ã¢â€š ¬Ã¢â€ž ¢t accept responsibilities of the organization. They only consider their position for their responsibility and pay less attention to collective and team work. Second disability is known as The Enemy is Out There which is about the blame game of the people. This learning disability seriously affects organizational learning and is associated with nature of people. People blame others when something went wrong and do not consider themselves as the responsible one. This disability greatly hinders in organizational learning and team work is seriously affected. Third learning disability is the The Illusion of Taking Charge which is about the pro-activation of the organizations. To achieve a certain goal, organizations should be proactive to solve the problems that are happening in the organizations. People should have ability to analyze the problem in pro-active way rather than letting things go wrong and increasing problems. Most of the organizations are not pro-active in nature and requires strong work relationships among employees to contribute in organizational learning. Fourth learning disability is about the The Fixation on Events which is about the environment of organization. There are two types of business events such as daily activities and long term business. Most of the organizations focus on the daily business activities and do not work on the long term business planning. This is the reason that there are problems seen in organizations. Strong planning of long term business can help in establishing successful culture inside organizations. Therefore organizations should avoid short term plans and focus on long term business plans. Fifth learning disability is the The Boiled Frog which is the limitation of thinking. In this type of situation, we do not plan for the subtle events rather keep working on the dramatic events which look more appealing to us. In organizations, it should be consider that non dramatic events are more important and need immediate attention. Therefore, organizations should react to events which are more important rather than the dramatic ones. Next learning disability is the The Delusion of Learning from Experience which affects structure of the organizations and is one of the elements hindering in the learning organization. Communication problems are seen as information doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t flow from one department to other and this lack of communication can influence the decisions. This also affects organizations as people are not able to learn from experience of others. Last learning disability is the The Myth of the Management Team which causes problems in culture of the organizations. Here the management team is stressing on the employees using their power and position which causes problems in behavior and performance of the employees. In this type of situation, manager is forcing their employees to follow their decision without considering the consequences. This increase problem in oganiztional culture and also hinders organizational learning. 2. How a split between espoused theory and theory in use can affect organizational learning Mental models are set of opinions, perceptions and views about certain things or situation. These mental models are important as these can influence interaction among people and work relationships among employees of the organizations. These mental models are actually assumptions which affect our activities and thus can be detrimental if not implemented correctly. According to Jim Taggart, split between espoused theory and the theory in use can cause problems in organization culture and the work relationships among employees. Espoused theory is about what we say (our words) and theory in use is about what we perceive and mental models. If what we say and what we do are different then this can increase problems of the organizations and can be detrimental for the organization. Most of the organizations implement mental models with self sealing impact which can cause problems in relationships and decisions are made according to a single perspective about the situation or thing. Manager if develop a single perspective about their employee then there can be disturbance seen in behavior of the employee. Organizations should develop mental models with self fulfilling impact which can increase performance of the management as well as employees. This type of the mental models work on the basis of multiple perspectives rather on the basis of single perspective about something. Thus, these types of mental models can increase performance of the organization and can improve organizational culture where people are working together and learning from experiences of others. System approach is considered as important approach while analyzing problem situation of organizations. This can help in developing mental models which are consistent in espoused as well as theory in use. This increases organizational learning and people are more connected to each other. Managers should have understanding of the system thinking so that they can analyze already available mental models and can develop a consistent mental model having espoused as well as theory in use. 3. Five disciplines discussed by Taggart for overcoming the learning disabilities Jim Taggart has explained five learning disciplines which are used to overcome learning disabilities. These disciplines are systems thinking, shared vision, team learning, mental models and personal mastery. Systems thinking Systemsà ¢Ã¢â€š ¬Ã¢â€ž ¢ thinking is an approach to analyze complex problems in more depth. This approach can give important information on the causes of the problems. Systems thinking approach examines interacting components of the system and their interaction with each other. It can also be said that system is studied as a whole rather than studying interacting components of the system individually. Managers can use this approach for the understanding of organizational problems and complex situations. Through this approach they can idea of the underlying reasons which are affecting organizational structure or culture. There are two types of feedback seen in systems thinking which are reinforcing and balancing. Balancing is about the resistant to change in workplace and reinforcing increases perceptions on the basis of expectations. Thus, management should use systems thinking to tackle problems in organizations. Shared vision Having a shared vision in organization can greatly improve its productivity and growth. Manager should stress on the development and implementation of the shared vision instead of individual vision. They should consider individual visions and then transform it into shared vision of the team where goals and objectives are same for all the members. This increases unity among the employees and management which can improve culture of the organizations. Team learning This discipline is considered as important in organizational learning. This is about learning from others experiences. Although growth and development of individuals is necessary but organization should focus on the learning strategies that are based on team development. Managers should develop strategies which can create opportunities for employees to work together and deal complex situations as a team. So that individuals can learn from experience, knowledge and skills of others and can also improve their performance and experiences. Working as team also improves communication among the employees. Feedback from teams should be given so that it can help others to learn more effectively which can improve learning organization. Mental Models Mental models are about the preconceived assumption of certain situation. In other words, mental models are set of perceptions, opinions and views about something or someone. If there is split between espoused and theory in use than problems are seen in work relationship among employees. Managers should develop mental models based on self fulfillment which are about the multiple perspective rather than single perspective about some situation. This mental model can help managers to improve interactions and social behavior of the subordinates. Personal mastery Personal mastery is about learning and improving development of individuals. People who are willing to learn to develop and improve their performance are important for the success of the organizations. Personal mastery can help individuals to promote themselves through their work and can increase organizational culture. Managers should be encouraging their subordinates to improve themselves and increase work relationships among them. 4. Principles of Systems thinking, its role and effectiveness in Problem Solving and Decision Making Unlike the traditional breakdown approach, systemsà ¢Ã¢â€š ¬Ã¢â€ž ¢ thinking is more effective as this helps in solving complex problems by identification of interacting components. In this approach system is analyzed as whole rather than studying individual components. Special attention is given to interrelations among the components. Thus analysis of complex problem through systems thinking approach is through the identification of interaction between components which can help in decision making and solving problems. Systems thinking approach also improves management of the organizations which can increase organizational growth. Through this approach behavior of the employee can be understood in better way and company goals can be achieved smoothly (Jim Taggart, pp.3). This approach can also help in developing mental models with self fulfillment impact rather than self sealing impact. Self fulfilling mental models are based on multiple perspectives of something and thus are impo rtant to improve organization. Using this approach, managers can understand behavior of their employee in more effective way. Communication and interaction between subordinates and management is also improved using mental models with self fulfillment impact. Systems thinking approach can help in making effective decision as this helps in identification of causes of problems by studying system as a whole. Organizations which utilize this approach can tackle with problem situations in more effective way. Therefore manager should use this approach to face and solve problem situation. They should develop plans to increase communication, improve organizational culture and encourage employees to work for the growth of organizations. Systems thinking approach also help in improving work relationships among management and their subordinate as multiple perspectives are being taken into account. Thus, systems approach help in improving management and their capability of decision making. References: Infed, 2014. Peter Senge and the learning organization. [online] Infed 2014. Available from: https://infed.org/mobi/peter-senge-and-the-learning-organization/. [Accessed 21 March 2014]. Peter Senge, 1990. The Fifth Discipline: The Art Practice of the Learning Organization. New York: Currency Doubleday. Solonline, 2014. Organizational Learning: The Five Disciplines for Building the Learning Organizations. [online] Available from: https://www.solonline.org/?page=Abt_OrgLearning/. [Accessed 21 March 2014] Jim Taggart. The Five Learning Discipline: From Individual to Organizational Learning , pp.1-8. 1