Work book for sh6000 leadership and management in professional contexts - Free Essay Example

Sample details Pages: 14 Words: 4289 Downloads: 3 Date added: 2017/06/26 Category Management Essay Type Case study Did you like this example? Part 1: Management Style Description and feelings This essay aims to reflect on my experience when working with a group of seven students tasked to critically analyse a case study and develop a group presentation. The Gibbs (1988) model of reflection will be used to discuss and analyse the lessons gained from my experience. At the start of our group meeting, a leader was selected and helped the group in planning and implementing the task. Don’t waste time! Our writers will create an original "Work book for sh6000 leadership and management in professional contexts" essay for you Create order However, my experience with the group was marked with difficulties and challenges. In the first stages of our group formation, or the norming stage, we had difficulties meeting as a group due to differences in university schedule. During the meetings, some of the members chose not to participate while others were more demanding and tried to dominate the discussions. The leader tried to create some sense of order in our first meetings and demonstrated the authoritarian leadership style. Throughout our team meetings, some of the members were absent, while others who were present continued to depend on the more dominant members to accomplish the tasks. I was frustrated in the beginning of our meetings and felt that we could have been successful in our presentation if we managed to work more effectively. Our team presentation was not what I expected. I was disappointed with our overall team performance. Discussion and Analysis Management is described as a process where leaders govern and make decision-making within an organisation (Bach and Ellis, 2011). This also involves planning of tasks, organising work, staffing, directing activities and controlling (Belbin, 2010). The main aim of management is for managers to influence or encourage team members to accomplish a task (Belbin, 2010). On reflection, my team leader demonstrated the authoritarian leadership style. This type of leadership is described as one where the leader provides the direction of the team and gives specific instructions and directives on how to achieve the team goal (Daly et al., 2015). An authoritarian leader also supervises the activities of the subordinates and strongly discourages members to validate or question his or her directives (Bach and Elllis, 2011). This type of leadership is appropriate in workplaces where there is a highly-structured setting with routine operations (Bishop, 2009). Autocratic leadership is also favourabl e for activities that are simple and of shorter duration (Marquis and Huston, 2012). On evaluation of my experience in the team, we had very little interaction and cohesion during the first few stages of the team working. According to Tuckman’s model of team development, there are four stages of group formation (Clark et al., 2007). These include the following: forming, norming, storming and performing. Our lack of cohesion and difficulties in conducting team meetings may reflect the first stage of group formation, which is the establishing stage. In this this step, Clark et al. (2007) has explained that team members are still beginning to form their team roles and tend to be polite and diplomatic. At this stage, a team leader was chosen, who in turn reflected the authoritarian leadership style. Since most team members were reluctant to accept a task, our leader decided to assign team roles and ensured that each team member would attend the team meetings. The leader also s upervised the entire group. On reflection, the authoritarian leadership style was appropriate in the first few stages of our team working since this ensured that tardiness and absenteeism were prevented (Belbin, 2010). Further, the authoritarian leadership style was also appropriate since our assigned task was not complex and was of shorter duration (Bishop, 2009). Our group leader was able to make follow-ups on our assigned task. However, as we progressed towards the second stage, which is the storming stage, conflicts soon arose. There were members who tended to dominate the discussion and did not agree with our leader on our assigned team roles and how the case study should be presented. Although Goodman and Clemow (2010) argue that conflicts in teams are natural and may not always have a negative impact on the function and development of the team, in my experience, the conflicts had negative impact on our team development. Members who disagreed with our team leader on how the case study should be presented chose not to participate in our succeeding meeting and role-playing. Since the authoritarian leadership style was adopted, our team leader did not consider the team member’s suggestions. Morgan et al. (2015) reiterate that conflicts could help in the development of a team if each team member acknowledges the differences of the team members and learn to adjust to their individual roles. On reflection, most of my team members chose not to adjust to our individual differences. In turn, this created a discordant team, which also reflected on our final presentation. I felt that our presentation was chaotic and reflected poorly on our role as team members. On consideration, our team would have benefitted with the transformational leadership style. This type of leadership encourages members to actively participate in decision-making and is associated with achievement of goals and objectives (Bach and Ellis, 2010). Conclusion The authoritarian leadership style was not the most appropriate style in managing our team since this failed to encourage team members to participate in decision-making. This type of leadership is also not applicable in actual healthcare settings since patient-centred care is promoted and team working and participation highly encouraged. Action Plan When managing a team in the future, I will ensure that I am aware of my own team role. Conflicts should be used to develop and not destroy teams. I will also adopt a leadership style that allows teams members to actively participate in decision-making. Specifically, I will develop the transformational leadership style since this ensures that all members have opportunities to be actively involved and valued during achievement of a task (Bishop, 2009). References: Bach, S. Ellis, P. (2011) Leadership, Management and Team Working in Nursing. Exeter: Learning Matters. Belbin, R. (2010) Management of teams: why they succeed or fall. London: Butterworth-Heinemann. Bishop. V. (2009) Leadership for nursing and allied healthcare professionals. Open University Press: Milton Keynes. Clark, P., Cott, C. Drinka, T. (2007) ‘Theory and practice in interprofessional ethics: a framework for understanding ethical issues in health care teams’, Journal of Interprofessional Care, 21(6), pp. 591-603. Daly, J., Speedy, S. Jackson, D. (2015) Leadership and Nursing. Contemporary Perspectives. 2nd ed. Chatswood: Elsevier. Gibbs, G. (1988) Learning by doing: A guide to teaching and learning methods, Oxford: Further Educational Unit, Oxford Polytechnic. Goodman, B. Clemow, R. (2010) Nursing and collaborative practice: A guide to interprofessional learning and working. Exeter: Learning Matters, Ltd. Marquis. B. Huston. C. (2012) Leadership and management tools for the new nurse. A case study approach. Lippincott: Philadelphia. Morgan, S., Pullon, S. McKinlaey, E. (2015) ‘Observation of interprofessional collaborative practice in primary care teams: An integrative literature review’, International Journal of Nursing Studies, doi: 10.1016/j.ijnurstu.2015 03.008 [Online]. Available from: https://www.ncbi.nlm.nih.gov/pubmed/25862411 (Accessed: 15 May 2015). Part 2: Leadership, Management and Change Description and Feelings In our team meetings, the concept of change management surfaced since our team leader struggled in influencing team members to assume different team roles. I also realised that I used to complete tasks individually and not as a team. Although I was not the team leader, I also have to learn how to reflect an appropriate leadership style that will be used in future team working. During our team meetings, I was frustrated since we were accomplishing little, but in the end, I felt that I have developed my ability to work in a team. Discussion and Analysis Change is described as a transition that involves movement from the present state of an organisation to a desired, future state (Marquis and Huston, 2012). Changes often occur in healthcare settings and require change management. During the role-play and team meetings, collaborative team working was encouraged to achieve the goals of the team. This represented a change in how I accomplish tasks. From completing assigned tasks individually, I have to learn how to complete tasks as a group. Apart from changes on how to complete tasks, there was also a suggested change on leadership style from authoritarian to the transformational leadership style. On evaluation, change management was necessary in our group since this could have addressed the factors that caused our poor performance and increased the factors that would lead to a successful group performance. Practising change management is crucial since this would help prepare myself in my future role as a registered nurse and as a nurse leader. At least three theories have been proposed in managing change. These include the Plan, Do, Study, Act cycle (PDSA), Kotter’s Model and Lewin’s change model (Bach and Ellis, 2010; Appelbaum et al., 2012; Reed and Card, 2016). The PDSA cycle is often used in the NHS and allows nurse leaders and other healthcare practitioners to create a plan on how to implement a change while the ‘do’ stage constitutes the actual performance of the plan. In the third or ‘study’ phase, nurse leaders and team members analyse the performance and whether this needs to be enhanced or changed (Reed and Card, 2016). In the ‘act’ phase, the proposed changes in the action plan and performance are implemented. The entire process is then repeated until change has been integrated within an organisation. A critique of the PDSA is the difficulty in repeating this cycle, with Reed and Card (2016) noting that only 20% of healthcare groups using PDSA actually repeat the cycle. The applicability of the PDSA is limited with some healthcare settings not benefitting from this type of change management (Taylor et al., 2013). Meanwhile, the Kotter Model of change adopts the top-down approach and is often used in corporate settings (Appelbaum et al., 2012). It is difficult to use this model of change in actual healthcare settings since the NHS encourages all team members and patients to actively participate in planning and implementation of a change initiative (NHS Leadership Academy, 2011). However, a reflection of my own group would show that the Kotter Model of change was demonstrated as our team leader exercised the authoritarian leadership style. The change came from the leader and trickled down to the team members. Finally, the Lewin’s model of change proposes three stages of change: unfreezing, change and refreezing (Gopee and Galloway, 2013). This model is often used in healthcare settings since it takes into account the factors that enable or deter change in actual practice. Force-field analysis is done and factors that enable change are increased while factors that deter change are reduced (Gopee and Galloway, 2013). On reflection, employing this type of change management is crucial in my future role as a registered nurse leading a multidisciplinary team. In the NHS, it is recognised that there are several factors that deter or promote change in practise. For instance, the perception that a proposed change initiative only increases paperwork could deter the uptake of change in practice (Bach and Ellis, 2011). This perception is supported in literature with the Royal College of Nursing (2013) reporting that nurses spend an average of 2.5 million hours per week completing clerical tasks. Hence, I have to be aware of factors that deter or enable change. On reflection, the autocratic leadership style, coupled with the top-down approach to change did not lead to a successful performance of my gr oup. The Lewin’s model of change would have been more appropriate in helping my team members accept their individual roles and in changing their own way of completing tasks. This model would have helped our team leader investigate the factors that lead to poor attendance to our team meetings and the team members’ refusal to resolve conflicts. Conclusion Effective leadership and change management are crucial when implementing a change initiative and in completing group tasks. Using the Lewin’s model of change would have helped the team leader identify the factors that enable and deter change. Successful use of this model would lead to achievement of the goals of the team. Action Plan I will develop my leadership skills and abilities to carry out Lewin’s change model. I will find opportunities to practice change management skills in my own healthcare setting and report regularly to my mentor and colleagues on my progress. I will ask feedback from my mentor and colleagues if I have achieved leadership and change management skills. References: Appelbaum, S., Habashy, S., Malo, J. Shafiz, H. (2012) ‘Back to the future: revisiting Kotter’s 1996 change model’, Journal of Management Development, 31(8), pp. 764-782. Bach, S. Ellis, P. (2011) Leadership, Management and Team Working in Nursing. Exeter: Learning Matters. Gopee, N. Galloway, J. (2013) Leadership and Management in Healthcare. 2nd ed. London: Sage. Marquis. B. Huston. C. (2012) Leadership and management tools for the new nurse. A case study approach. Lippincott: Philadelphia. NHS Leadership Academy (2011) Clinical Leadership Competency Framework. Coventry: NHS Institute for Innovation and Improvement. Reed, J. Card, A. (2016) ‘The problem with Plan-do-study-act cycles’, British Medical Journal Quality and Safety, 25(3), pp. 147-152. Royal College of Nursing (2013) Nurses spend 2.5 million hours a week on paperwork- RCN Survey [Online]. Available at: https://www2.rcn.org.uk/newsevents/press_releases/uk/cries_unheard_-_nurses_still_told_not_to_raise_concerns (Accessed: 10 May, 2017). Taylor, M., McNicholas, C., Nicolay, C., Darzi, A., Bell, D. Reed, J. (2013) ‘Systematic review of the application of the plan-do-study-act method to improve quality in healthcare’, British Medical Journal Quality and Safety, doi: 10.1136/bmjqs-2013-001862. Part 3: Leadership, Management and Decision Making Description and Feelings In our group work, our team leader did not make a decision to identify the factors that deterred participants from resolving conflicts and adjusting to team roles. There was also no decision to reflect on why team members were reluctant to accept the assigned tasks and the reasons for poor attendance to the team meetings. I felt that these non-decisions heavily influenced our team performance. As a group, we made the erroneous conclusion that our team leader can handle all the required tasks. This group conclusion might have also contributed to our failed group presentation. During our meetings, I was anxious and apprehensive that we were not accomplishing our tasks with the given time frame. Discussion and Analysis The indecision to identify factors that deterred the group from participating in meetings and accepting tasks had a negative impact on our team performance. The ability to make decisions is crucial when completing tasks as a student nurse and in preparation for my role as a registered nurse or a nurse leader. Marriner-Tomey (2009) has argued that decision-making is crucial in healthcare organisations and within teams. In actual healthcare settings, decisions are made constantly and range from decision on whether to admit a patient to decisions on which interventions to use for a specific healthcare condition. These decisions are influenced by legislations, policies, leadership styles and the practice of patient-centred care (NHS Leadership Academy, 2011). On analysis, it is crucial to make decisions within groups. However, it is cautioned that collective decisions might reflect ‘groupthink’ and lead to failure instead of success (Marriner-Tomey, 2009). The theory of gr oupthink is described as faulty decision made by a group that represents deterioration in reality testing, mental efficiency and moral judgment (Wilcox, 2010). Groups who demonstrate groupthink often do so without realising the impact of their decisions on other groups and in the process, ignore alternatives or actions (Cooke and Young, 2002). It is important to note that groupthink often occurs when members have similar background, when rules for decision-making are not clear and when members do not consider the opinions of others (Wilcox, 2010). In my experience, we were not able to make a decision or demonstrate groupthink despite the similarities of our background. I felt that our lack of cohesion prevented us from also making faulty decisions, which are common when a team ‘groupthinks’. An analysis of our group revealed that we were not able to examine the power relations within the group. Power relations could have an impact on who make the decisions and whethe r these decisions are followed (Bach and Ellis, 2010). Power is described according to who has the formal authority to make decisions for the group and according to who has access to resources (McDonald et al., 2012). Power is also described according to who has less ability to control ideas (McDonald et al., 2012).   In teams, there may be power imbalance especially when professional systems, social and cultural factors reinforce these imbalances (Martin-Rodriguez et al., 2005). This power imbalance may be more evident in hospital settings where medical dominance is seen. For example, medical doctors have traditionally retained their independence and professional autonomy and status when collaborating with other groups of healthcare workers (Hudson, 2002). This may create power imbalance as doctors tend to have more power in decision-making compared to the rest of the group. This is in contrast with what is often seen in community healthcare settings where each member of a health care team tends to share power and make decisions according to what is best for the patient (Hudson, 2002). Meanwhile, Weir-Hughes (2011) asserts that in order for a therapeutic relationship to develop, there is a need to consider the power relationships between healthcare practitioners and patients. It is suggested that power may be used negatively (i.e. through coercion and force) or positively (i.e. through encouragement and empowerment).   On analysis, my ability to understand power relations through my experiences in team working will be essential when caring for actual patients. In our team, power was used negatively since our team leader had to force our team members to accept assignments. However, I realised that in actual settings, it is important to encourage and empower patients and my colleagues to improve patient care. It has been shown that patient empowerment tends to improve the quality of care and patient outcomes (Sullivan and Garland, 2010). On analysis, ther e was power imbalance in our group since the team leader made all the decisions and the top-down approach to change was followed. Conclusion Making decisions is crucial in team working and when caring for patients. However, the ability to make decisions would depend on one’s power. Those with more access to resources and power have greater ability to influence decisions. In healthcare settings, it is crucial to use power positively and empower patients and other members of the healthcare team to make decisions. Positive use of power is also important in preventing ‘groupthink’, a phenomenon that tends to result to negative consequences for the group. Action Plan When faced with a similar situation in the future, I will ensure that I actively participate in decision-making. However, I need to empower others and myself to make good decisions. Empowerment is necessary to prevent power imbalance. I will continue to engage in training on how to practice effective leadership and management skills in order to empower others to actively engage in decision-making. References: Bach, S. Ellis, P. (2011) Leadership, Management and Team Working in Nursing. Exeter: Learning Matters. Cooke, M. Young A. (2002) Managing and Implementing Decisions in Healthcare. London: Healthcare Balliere Tindall/RCN. Marriner-Tomey (2009) Guide to Nursing Management and Leadership. St. Louis: Mosby Elsevier. Martin-Rodriguez, L., Beaulieu, M., D’Amour, D. Ferrada-Videla, M. (2005) ‘The determinants of successful collaboration: a review of theoretical and empirical studies’, Journal of International Care, 19(2), pp. 132-147. McDonald, J., Jayasuriya, R. Harris, M. (2012) ‘The influence of power dynamics and trust on multidisciplinary collaboration: a qualitative case study of type 2 diabetes mellitus’, BMC Health Services Research, 12(63). Doi: 10.1186/1472-6963-12-63. NHS Leadership Academy (2011) Clinical Leadership Competency Framework. Coventry: NHS Institute for Innovation and Improvement. Sullivan E., Garland G. (2010)   Practical Leadership and Management in Nursing. Pearson Education, Harlow. Wilcox, C. (2010) Groupthink: An impediment to success. USA: Xlibris Corporation. Part 4: Reflection on Development of Skill Description and Feelings I participated in a second group activity where I was chosen as the leader. In the second group, I was able to practice leadership skills such as effective communication, motivation, change management and integrity. During one of our discussions, I assigned a group member to search for evidence-based interventions for a specific healthcare condition. Following some research, my team member decided to use the case of a real patient to explain the interventions. However, she identified the name of the patient and the context of her care, including the names of the nurses who were involved in her care. I talked to my colleague privately after our discussion and informed her of the NMC (2015) code of conduct on patient autonomy and the need to observe the privacy of the patient. I asked her to use a pseudonym instead when discussing the case of a patient. My colleague accepted my suggestion and protected the identity of the patient during succeeding discussions. On reflection, I felt t hat my decision to inform my colleague on how to discuss patient care was based on the ethics principles of patient autonomy. Discussion and Analysis From my participation in teams/groups throughout the module, I was able to develop effective communication skills. Specifically, I learned how to listen and show compassion to my colleagues and my patients during placement when they converse with me. Kourkouta and Papathanasiou (2014) have emphasised that effective communication skills is crucial in healthcare settings and when working in teams. These communication skills include recognising both verbal and non-verbal messages (Johnston, 2013). Patients who feel that their nurses are listening intently tend to report higher patient satisfaction with the care they receive (Kourkouta and Papathanasiou, 2014). Effective communication skills are also necessary in resolving conflicts in teams and understanding the perspectives of others (Craig and Moore, 2015). In nursing teams or when working with patients, it is recognised that conflicts in ideas also occur. Hence, the ability to communicate effectively and resolve conflicts will be n ecessary in preparing myself in my future role as a registered nurse (Craig and Moore, 2015). Apart from effective communication, I also learned how to motivate my fellow team members. Motivation is crucial in team working since this would help team members to complete tasks. In my experience with my first group, team motivation was not practiced. In contrast, my second team was able to use motivation to help team members accept and carry out tasks. I realised that the main difference was the support that my team members received in the succeeding group. Craig and Moore (2015) state that team support is critical in team working since the absence of support could create dissatisfaction and loss of motivation. In addition to the skills on motivation, I also saw the importance of change management in our team. In my first group, change management was not practised. Managing change is critical in healthcare practice. Thorpe (2015) has stated that planned change, which is described as purposeful, requires collaborative effort and the presence of a change agent. The NMC (2015) has emphasised that nurses must deliver quality care that is based on evidence, suggesting that nurses have to continually update their skills and practice. This also means that changes in practice have to be made. However, in practice, implementing change is challenging. It is suggested that almost 70% of change projects do not succeed (Mitchell, 2013). In my experience with the group, I also realised the necessity of recognising factors that influence or deter change. Mitchell (2013) suggests that advances in science, shortages of the nursing workforce, an ageing population, the need to increase patient satisfaction and rising cost of treatment all influence change. Inappropriate leadership, poor communication and under-motivated staff also deter the uptake of change in practice (O’Neal and Manley, 2007). In my future practice, I have to identify factors that promote change in p ractice. On reflection, I was not able to promote change in our first group. I could have assisted the team leader in my first group in analysing the factors that deter my colleagues from accepting their assigned tasks. Integrity was also practiced in the succeeding groups that I was involved in. Specifically, power was not misused as all team members in these groups had equal chances to participate in decision-making. In addition, the team leader and group members exercised honesty and transparency in the decisions made. Finally, ethics in decision-making was observed. For instance, all personal information of patients discussed during case studies was not mentioned and patient autonomy was observed. The NMC (2015) has reiterated the importance of protecting the privacy and autonomy of the patients. Conclusion Practising effective leadership skills and ethical decision-making are important when working as teams and in providing quality care to the patients. Inability to work effectively could result to poor performance, which in turn could affect the quality of care that my future patients will receive. Developing these leadership skills early in my undergraduate years would help prepare me in my role as a registered nurse. Action Plan As part of my action plan, I will continue to engage in training on how to develop effective communication skills. Specifically, I will refine my skills on how to show empathy when listening to my patients and colleagues. The ability to demonstrate empathy is crucial since this would help my patients feel that they matter to the team (Fowler, 2015). References: Craig. M. Moore. A. (2015) ‘Providing support for teams in difficulty’,  Nursing Times.  111(16), pp. 21 23. Fowler. J. (2015) ‘What makes a good leader?’,  British Journal of Nursing, 24(11), pp. 598 599. Johnston, B. (2013) ‘Patient satisfaction and its discontents’, Journal of the American Medical Association, 173(22), pp. 2025-2026. Kourkouta, L. Papathanasiou, I. (2014) ‘Communication in nursing practice’, Materia Socio Medica, 26(1), pp. 65-67. Mitchell, G. (2013) ‘Selecting the best theory to implementing planned change’, Nursing Management, 20(1), pp. 32-37. Nursing and Midwifery Council (NMC, 2015) The Code: Professional Standards of practice and behaviour for nurses and midwives [Online]. Available from: https://www.nmc.org.uk/globalassets/sitedocuments/nmc-publications/revised-new-nmc-code.pdf (Accessed: 12 May, 2015). O’Neal, H. Manley, K. (2007) ‘Action planning: making change happen in clinical practice’, Nursing Standard, 21(35), pp. 35-39. Thorpe. R. (2015) ‘Planning a change project in mental health nursing’,  Nursing Standard, 30(1), pp. 38 44.

Analysis Of Charlotte Perkins Gilman s Life - 1174 Words

The early nineteen hundreds were a very bad time to be alive if you were a woman. The disrespect and expectations of women were unbelievable by today’s standards. However, if these expectations were to drive a woman mad, that woman would be in for an even bigger ride than before. Writer Charlotte Perkins Gilman’s life was unfortunate enough to receive the short end of the stick. Driven to depression, Gilman was appointed to the rest cure. A cure that she later found out was the exact opposite of what anyone in her situation needed. A cure in which after Gilman was able to survive, was poised to banish it and rid the world of this cure, while at the same time, putting the state of women in society under a microscope. This is how Gilman, using her own experiences, successfully contributed the protest of the rest cure, marriage and the place of women in society of her time period. The rest cure was a sentence to complete isolation from daily life for women who were suffering depression. Thinking that the mind was like a muscle, doctors thought that depression was just a damaged muscle that needed to not be used until it felt better. Gilman’s experience with the rest cure contributed greatly to the writing of â€Å"The Yellow Wallpaper.† A short story about a wife who was submitted to the rest cure by her husband, who was also a doctor. The starts off with the wife slightly depressed, and ends with her having gone completely mad. Having gone through the actual treatment gave herShow MoreRelatedA Critical Analysis Of The Yellow Wallpaper By Charlotte Perkins Gilman1051 Words   |  5 PagesEnglish 102 Esposito, Carmine. A Critical Analysis of The Yellow Wallpaper by Charlotte Perkins Gilman Charlotte Perkins Gilman was a famous social worker and a leading author of women’s issues. 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Investor Ratio Analysis Free Essays

Investor Ratios There are various ratios that are designed to help investors who hold shares in a company to assess the returns on their investment. These are: Dividend per Share The dividend per share ratio relates the dividends pertaining to an accounting period to the amount of shares in issue during the period. The ratio is given as follows: Dividend per share = Dividends pertaining to a period Number of shares in issue The ratio provides an indication of the cash return a shareholder receives from holding shares in a company. We will write a custom essay sample on Investor Ratio Analysis or any similar topic only for you Order Now Although it is a useful measure, it must be remembered that the dividend received will usually only represent a partial measure of the return to an investor. Dividends are usually only a portion of the earnings generated by the firm and available to shareholders. A business may decide to plough back some of its earnings back into the business in order to achieve future growth. These ploughed back profits belong to the shareholders and should in principle increase the value of the shares. Thus w h e n assessing the total return to an investor we must look at both the dividends received and any movement in the share price. The dividend per share for Alexis Ltd is given as follows: Page 1 of 5 Dividends per share can vary considerably between companies. A number of factors will influence the amount that a company is willing or able to issue in the form of dividends to shareholders. These factors include: †¢ †¢ †¢ †¢ The profit available for distribution to investors The future expenditure commitments of the company The expectations of shareholders concerning the level of dividend payment The cash available for dividend distribution Comparing the dividends per share between companies is not always useful as there may be differences between the nominal value of the shares issued. It may be more useful to monitor the trend in dividends per share over a period of time. Dividend Yield Ratio This ratio relates the cash return from a share to its current market value and is given as follows: Dividend Yield Ratio = Dividend per Share Market Value of a Share * 100 1 The ratio for Alexis pic is given as follows: Page 2 of 5 In essence this ratio measures the real rate of return on a share. Investors can compare the returns from a company’s shares to the returns that could be earned by investing either in another company or by investing in another form of investment. Dividend Cover Dividend cover (for ordinary shares) looks at how many time a firm’s profits (after interest, lax and preference dividends) cover the ordinary dividends. Dividend Cover = Profit after interest, tax and Pref Share Dividends Ordinary Share Dividends For Alexis plc this ratio is calculated as follows: Interpretation: Alexis plc profits covers ordinary dividends 3. 96times. Dividend cover is calculated using the profit after interest and tax figure because banks, government and preference shareholders have a preferential claim on the profits of the firm. This ratio is of particular interest to ordinary shareholders. Earnings per share The earnings per share relate’s the earnings generated by the company during a period and available to shareholders to the number or snares in issue. For ordinary shareholders the amount available will be net profit after interest, tax and preference dividends because banks, the government and preference shareholders have a preferential claim on the profits of the firm. Page 3 of 5 Earnings per share = Earnings available to ordinary shareholders Number of ordinary- shares in issue For Alexis plc this ratio is calculated as follows: The EPS is regarded by many investment analysts as a fundamental measure of share performance. Tracking the EPS over time can help assess the investment potential of the company’s shares. Care must be taken when comparing EPS from different firms as capital structures differ from one firm to the next. Price Earnings (P/E) R a t i o The price earnings ratio relates the market value of a share to the earnings per share. It is calculated a s follows: P/E Ratio = Market value per share Earnings per Share The P/E Ratio for Alexis is calculated as follows: Page 4 of 5 The ratio reveals that the capital value of the share is 9. 4 times higher than its current level of earnings. The ratio is essence is a measure of market confidence in the future of the company. A high P/E ratio means that relative to profits the price of the share is quite high. Why would this be the case? The higher the P/E ratio the greater the confidence in the future earning power of the company i. e. lthough current earnings are low investors expect them to increase in the future and therefore investors are prepared to pay a high price for the share in relation to the current earnings of the share. A low P/E ratio means that the share price is quite low compared to earnings – this implies a pessimistic view of the future. Nobody will be willing to pay a high price for a share in a company that has unexciting trading prospects . Because the P/E ratio gives a guide as to market confidence in a share it can therefore be helpful when comparing different companies although P/E ratios per sector will vary. Page 5 of 5 How to cite Investor Ratio Analysis, Essay examples

Taxation Law Clothing Business Purchase

Question: Discuss about the Taxation Law for Clothing Business Purchase. Answer: The owners of clothing business purchase many products from the manufacturers and whole sellers so that they can sell these clothes to the customers in the market. They deal with more than one retailers and shops. There administrative work includes the service related to customer and maintaining the stock of the company[1]. The income earns by an individual either from providing services or for continuing any business is assessable to tax under section 6-5 of the ITAA 1997 as an ordinary income. The section 6-20 of the ITAA 1997 states that certain exemptions are available for the person, which he can claim while calculating his total income[2]. In the given case, the company Tom ltd started its business in Australia. The nature of the business is to sell clothes on retail basis to its customers. The company Tom Ltd seeks an advice based on ATO rulings and recent case laws for tax implication. According to Australian Law individual who resides in the country can claim an exemption on the starting amount of $6,000 under the head tax-free threshold. The section 8-1 of the ITAA 1997 states that a person can claim deduction for the amount spent on dividend or interest prescribed by the act[3]. Particulars Cost of Goods sold Bonus Bad debt Legal fees Dividend received Income tax paid Issue dividend to shareholders Gross total income Reason (Opening stock + purchases-closing stock) Expenses Loss Expenses Income Expenses Expenses Amount [(120,000+180,000)-160,000] $10,000 $15,000 $30,000 $35,000 $15,000 $280,000 Amount $140,000 Exempted ($15,000) ($30,000) $35,000 ($15,000) $280,000 ($165,000) The taxable income is computed under section 4-15 of the ITAA 1997 and since the company is earning a loss during the year so the company does not require paying tax on the loss. Hence, the company Tom Ltd is not eligible to pay tax during the year[4]. After analyzing the whole case it was found that the company met with a heavy loss during the year by issuing dividend. Therefore, it is advisable for the company to hold the issue of dividend for next assessment year. References and bibliography: Evans, C., Hansford, A., Hasseldine, J., Lignier, P., Smulders, S. and Vaillancourt, F., 2014. Small business and tax compliance costs: A cross-country study of managerial benefits and tax concessions.eJournal of Tax Research,12(2), p.453. Lignier, P. and Evans, C., 2012, August. The rise and rise of tax compliance costs for the small business sector in Australia. InAustralian Tax Forum(Vol. 27, No. 3, pp. 615-672). Ma, D., 2015. Small business tax compliance burden: what can be done to level the playing field. Scollo, M., Bayly, M. and Wakefield, M., 2015. Availability of illicit tobacco in small retail outlets before and after the implementation of Australian plain packaging legislation.Tobacco control,24(e1), pp.e45-e51.