2.2 Calculating returns Our first question was: what is the mean expected total return for next year? We calculate this by taking each of the possible returns and weighting it by its relative probability. As our table is so simple and symmetrical, it is not difficult to see that the weighted mean return is 7% per annum. Our second question was: what is the degree of risk or uncertainty in this mean figure? In other words, how widely dispersed are the possible outcomes around the mean expected outcome? The most
Introduction A fair return on investment is defined as one that compensates the investor for the risk incurred in making the investment – neither more nor less. Conversely, an excess return is one that over-compensates the investor for the risk incurred. Investors want to avoid investments that pay less than a fair return, while borrowers want to avoid paying an excess return. In this unit we shall: define more precisely what we mean by ‘risk’ in a fi
5.3 Desktop search tools Finding your paperwork or electronic files can be a problem. You may find that even if you do have some sort of filing system, your structure soon gets quite large with files in multiple locations, which can be hard to navigate. You may find yourself making arbitrary decisions about which folder to place a document in. It may make sense now but in the future, when you look where you think it should be, it’s not there. At times like this you may resort to the search command from the Wi
4.7 T is for Timeliness The date when information was produced or published can be an important aspect of quality. This is not quite as simple as saying that 'good' information has to be up to date. Here is an example of a news item from an onli 4.2 P is for Presentation By presentation, we mean, the way in which the information is communicated. You might want to ask yourself: Is the language clear and easy to understand? Is the information clearly laid out so that it is easy to read? Are the fonts large enough and clear? Are the colours effective? (e.g. white or yellow on black can be difficult to read) If there are graphics or photos, do they help 3.7 News sources Many news sources are now available online. Searching an online version of a newspaper is easier, quicker and more effective than searching through printed indexes, microfilm or actual newspapers. 3 Seeking relevant information Once you have a reasonably clear idea of what you are looking for and have identified potential consultants, you may need to find out more about them before you can choose. Ideally, you will gather information from as many sources as possible, and, as with any such information, evaluate its reliability and relevance to your particular context. The clearer you are about the nature of the intervention that you require, and the key features of the context in which this will occur, the better pla Acknowledgements The content acknowledged below is Proprietary (see terms and conditions) and is used under licence. All other materials included in this unit are derived from content originated at the Open University. 2.5 Rating agencies: corporate governance indices A number of rating agencies, including credit rating agencies, have developed indices to measure corporate governance performance. Among the more well-known indices are FTSE-Institutional Shareholder Services (ISS) Corporate Governance Index, Standard & Poor's Corporate Governance Scores, Dow Jones Sustainability Index and Business in the Community Corporate Responsibility Index. Rating agencies can act as catalysts for corporate governance by either directly factoring corporate governance in 5.5.3 Normative pressures
Normative pressures concern what we think we ‘should’ do. They concern our values and the broader social values to which we subscribe. Some organisations make explicit attempts to foster particular kinds of value (for example, in relation to customer service), but normative pressures also come from outside the organisation, such as from a particular professional or religious affiliation. Institutional pressures are important for both private and public-sector organisations. 1.1 Introducing decision-making A vast literature on decision making stretches back over several centuries and encompasses a wide range of academic disciplines – from history and literature through to mathematics. This unit is not a comprehensive survey of this field. Rather, we have chosen a few key topics that will help you to think in broader ways about how you and others take decisions; we shall also introduce you to some themes in social science which have direct relevance to managerial decision making. In particular Introduction This unit covers a few key topics that will help you to think in broad ways about how you and others take decisions; we shall also introduce you to some themes in social science which have direct relevance to managerial decision making. The approach of this unit is descriptive: rather than prescribing how you should make decisions we look at frameworks that will help you to understand how decisions are actually made. We aim to help you to develop greater insight into both your own deci 2.1 The response of business For most of human history, our influence on the planet has been small (i.e. sustainable). The waste produced by our presence has traditionally been dealt with by a process of dilution; burying things, or perhaps dumping them in the ocean, was a viable proposition because we were few and the land and the oceans were vast. Mankind was a minor perturbation on the planetary ecosystem. But with change as the ever-present factor, we grew in both numbers and influence. In the last century, the 2.4 Problems in closure Projects do not always go according to plan. If problems develop during the closure period there are particular difficulties. The following story is told by an integration manager of an IT project. 2.3 Closing the project Closing a project can be quite an emotional experience for team members who have worked together for some time, particularly if close bonds have developed. The manager of a project has some obligations to staff who have worked for some time on it. Build into the plan a closure interview with each member of staff, so that their contribution can be formally recognised and recorded. Staff may need help to recognise the skills and experience that they have gained and how these have been evidenced 4 Project inputs and outputs A project involves the transformation of inputs into an output or product. For example, people's mental and physical efforts, bricks and mortar, equipment or materials might be transformed into a new road, a municipal park or an advertising campaign. Or perhaps transformed into a stream of outputs or products, for example, attendances at a conference or exhibition, state school places or data from a new in-house costing system. The output or outputs might be used within the organisation Acknowledgements The content acknowledged below is Proprietary (see terms and conditions) and is used under licence. Grateful acknowledgement is made to the following sources for permission to reproduce material in this unit: Table 1: Eurobarometer 49, September 1998, © European Communities. www.flickr.com TPCOM All other materials included in this unit are derived from co 1.11.1 Subject positions In her analysis, Blackman is identifying a pattern in Diana's talk and relating it to other similar methods of self-representation found in our culture. It is worth thinking through this in more detail. One key claim of discourse researchers is that language positions people – discourse creates subject positions. What does this mean? To speak at all is to speak from a position (remember the discussion of footing in the previous section). Further than this, the positions or slots in c 1.5.1 The co-production of meaning The third sense in which discourse is a social action refers to the origins of meanings. Meaning emerges from complex social and historical processes. It is conventional and normative. We have some idea what it signifies to say Prince Charles is a proud man because we are members of a speaking community and culture which has agreed associations for ‘proud man’. We draw on those to make sense. Meaning is also relational. Proud signifies as it does because of the existence of other t 1.5.1 A ‘two currency’ world? The introduction of the Euro threatens to have a significant impact on the international monetary economy as well as on the economies of the EU countries themselves. As yet this impact is not altogether clear since the Euro has only been operating for a few years. But certain trends are emerging and the possibilities are opening up. It is the main features of these trends that we concentrate upon in this section. A preliminary point here is that the Euro exchange rate is not a policy va
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Abyz News Links A portal to online news sources from around the world, providing up-
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