3.2.2 Ethane cracking Although ethane can be cracked thermally, the reaction is slow and does not necessarily yield ethylene at high severity. Careful control of reaction conditions, however, allows the reaction to occur The yield of ethylene is typically nearly 50 wt% with the rest composed o
2.3 Some general categories of model The preceding text has probably suggested several examples of different types of model to you, and at a very broad level, we can categorise the sorts of model we are likely to use in systems work as
Mental models: We have already seen how the ways in which we think and act are shaped by these. As well as the internal representations discussed in Section 2.1, mental models also include language and linguistic models, in particular the metaphors that we use in thinking and talking
6 A problem with sensors The problem we will look at in this section concerns the analysis of the design of a component used in cars that are fitted with airbags. The airbag has to be inflated rapidly when an electronic circuit in the system decides that a serious collision is taking place. The crucial component in the electronics is the accelerometer, which therefore has to be extremely reliable. Motor manufacturers have turned to a technology called MEMS (micro-electromechanical systems) for these accelerometers, b
2 Conclusion The Forth Road Bridge, connecting Edinburgh with Fife, continues to face a number of problems regarding its deteriorating condition. Both structural issues and the increasing wear and tear of the traffic upon the bridge are causes of concern for the engineers who maintain it.
1 Overview of the unit When you meet with a situation you experience as complex you
1.1.2 Diagrams as models Diagrams come in many forms and uses, but for systems thinking and practice it is useful to think of them as models (meaning ‘representations of reality’ in everyday usage). The term ‘model’ is used in a variety of contexts, even when there is a more commonly used term especially appropriate to its own context: models of terrain are usually called ‘maps’; models of electrical components wired together are usually called ‘circuit diagrams’; and models of the configuratio
3.3 Strawson: Section V Click on 'View document' to open Peter Strawson's article 'Freedom and Resentment'. 4.4 Marks and Spencer: a case study The following case study examines a company coming to terms with market orientation. Marks & Spencer is the latest UK retailer to turn to the web to revive its fortunes. In the week that the company announced a halving in its pre-tax p 5.5.1 Drawing the interview to a close Up to now we have been considering how to control and conduct the main body of an interview. There remains, however, the need to draw it to a satisfactory close. You should remember that, while you are trying to select the best candidate, the candidates are also ‘selecting’ you. You need to remember that you as an interviewer are being assessed and selected, and you need to ensure your presentational and interpersonal skills are up to the job. When you are satisfied that you 5.4.1 Introduction and Starting In a panel interview one member will need to take the chair; this person will then be responsible for initiating, controlling and closing the interview. It is also the role of the chair to link and control the contributions of the panel members. If you are the chair, you should always introduce the panel members to the candidate and explain how the interview will be conducted. A relaxed and skilful lead interviewer will then continue to establish and maintain rapport throughout the exch 5.1 The interview as a selection method: pros and cons Traditionally, the interview has been the main means of assessing the suitability of candidates for a job. Almost all organisations use the interview at some stage in their selection process. Similarly, most applicants expect to be interviewed. Interviews are useful for assessing such personal characteristics as practical intelligence and interpersonal and communication skills. The interview can be used for answering applicants’ questions, selling the organisation and negotiating terms and 4.12 Candidates make decisions too In the past people have tended to see selection primarily as organisations choosing between individuals. However, we must not forget that candidates are also making choices: about whether to write in for an application form, whether to apply, whether to attend an interview, whether to accept an offered job. This makes it important for organisations to treat candidates in a sensitive and responsive manner. They will need to pay attention to their recruitment materials, to provide realistic job 4.6 Recruiting and selecting internal candidates Where an existing member of staff is applying for a post, you will already have knowledge of their personality, skills, fit with the organisation and so on. However, whether the job they are applying for is very similar to or different from the one they are doing currently, you need to ensure that they receive the same treatment as other candidates. Being an internal candidate is not easy. It can be both an advantage and a disadvantage to be known! Maintaining our theme of objectivity, the re 2.2.2 A second diagram This first representation can be developed in the way shown in Figure 11. 2.2 Input-output diagrams An input-output diagram shows the inputs to a system or to an operation and the outputs from it. Learning outcomes After studying this unit you should be able to: understand private equity and the role of venture capital companies in providing this; understand why and how public equity issues can be undertaken; look at the reasons for cross-listing on stock exchanges; examine why a company might de-list from an exchange and return to private ownership. Introduction This unit looks at equity finance – the range of equity instruments and markets available to a company. First, we look at private equity and the role of venture capital companies that provide such finance. We look at the mechanics of an initial public offering (IPO) and at recent cases of companies ‘listing’ on a stock exchange for the first time. We go on to explore certain important strategic issues for a business when considering equity finance: 2.6 Conclusion In this section we have looked at the different ways in which expectations about corporate governance have grown. We have briefly reviewed the role of corporate scandals as a generator of regulatory responses, and in particular the significant problems that surfaced in 2002–3. We have also noted that research shows that evidence of a positive correlation between good investment returns and good corporate governance policies is not conclusive. We have looked at the growth of shareholde 2.3 Capital markets In so far as better corporate governance has the objective of enhancing shareholder control, it should follow that companies with better corporate governance will attract investors and will reduce their cost of capital. A global investor opinion survey carried out by McKinsey & Company (2002) gives some evidence that good governance is linked to investment decisions. The survey found that: investors state that they still put corporate governance on a 2.2 Recent governance failures As we have discussed before, the creation of corporate regulation is often linked to perceived failures of corporations and their management to behave in the way society expect them to. Corporate governance is not an exception to this trend, and, as with accounting, different countries may well experience difficulties at different times. For example, the development of British codes of best practice, which began with the Cadbury Committee, can be related to governance scandals such as Polly P
Activity
Case study 1 M&S goes online to reverse crisis
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