Identify an organisation which has developed an e-business strategy Essay

Identify an organisation which has developed an e-business strategy and utilises ICT applications to deliver enhanced customer v - Essay Example Introduction General electric Inc. (GE) is a fleet management company with operations in United Kingdom and the US among other markets. GE has been using a platform computer based applications platform for fleet management over the years but over, better versions of the platform were developed were available in the market. E-Business strategies provide firms with growth opportunities (Hanna, 2010). GE adopted a growth e-business strategy in order to boost sales and avoid the risk of stagnating at the global market as Bhusry (2008) explains. To achieve success for its strategy GE decided, to adopt an ICT tool procured from Micro-strategies, an independent software vendor. The new tool is basically an upgrade on its existing fleet management software with additional functionality of supporting a Decision Support System(DSS). Theory and Analysis Evolution of the internet has enabled firms that embrace technology reap benefits related to better efficiency and effectiveness, increased sal es, better customer relations, new market discoveries as well as higher profitability in the event that the strategy was value driven(Cheung, 2007). Through the internet, GE has been able to access the global, targeting a larger potential market for its product offering. GE uses its ICT tools to provide information to the drivers of its fleet as well as the fleet managers with broken down easy to read reports. The reports assist in enabling a faster decision making process and response time to operational inefficiency encountered at the work place. The DSS systems provided the reports via email or text message service, thus regardless of location, a mobile phone is all a driver or fleet manager needs to have. Businesses can only realize benefits of adopting e-business strategies if they are keen enough to research, develop, and successfully execute these strategies (Kamel, 2006). In addition to this, (Kotleret al.2006) explain that only firms that adopt strategies that are relevant to the demand of clients and value driven can successfully reap the benefits of e-business. In order for the strategies to be relevant, a firm has to identify its value drivers and match this with the best e- business strategies it has, where possible merging the two with the internet, especially so for firms operating globally like GE in this case. Value drivers vary according to the different models of businesses different enterprises adopt. The drivers are key to operation of an enterprise and have a direct impact on how the business operates (Beynon, 2004) Opportunities Existent to GE GE, as at the time of adopting this e-business strategy was handling management of over a million commercial vehicles for its corporate clientele. According to Hitchcock & Willard (2006) a strategy drives the daily operations of a firm. GE, before adoption of the strategy, was using an e-commerce platform for fleet management that was functional and efficient in managing the fleet and relaying data back to the fleet managers. According to Hitchcock & Willard (2006), an ICT platform forms the foundation for the operations of an organization. GE has chosen the DSS platform to help in achieving success of their growth. The DSS system was to allow for faster decision making process to create value for customers by enhancing the quality of

Grassroots Computing Essay Example for Free

Grassroots Computing Essay The article â€Å"Changing the corporate IT development model: Tapping the power of Grassroots† defines that the IT world in the 21st century corporate world is evolving. No longer are there programmers and users. Many times the users become ad hoc programmers. In some corporate structures the lines between the two worlds are disappearing. The plus side to this ad hoc programming is the ability for the end user to develop the tool needed to accomplish the task at hand. Many of the programs available to the business communities are generic in nature and the business will adapt to the program available. In some companies the grassroots computing types are adapting or improving the programming to meet the needs of the organization. The negative side to the grassroots computing model growing in the corporate world is the barriers and silos often built around the IT environment. These barriers need to be taken down for the full growth of the computer industry to be realized for all users and developers. The current license agreements around programing usage and modification will have to be adapted to the changes taking place in the enterprise. The article specifically identifies that the IT genre must – in addition to other needed steps â€Å"Actively cultivate an entrepreneurial atmosphere and Provide tools and services to enable workers to automate their own work environments. † (Cherbakov Et Al). With this changing idealism around IT and end user – corporate policy and culture needs to also evolve. The organization that will realize the full potential of the programing resources available – not only in the IT department – but across all boundaries in the organization – will establish a culture that will bring down established silos. There still needs to be licensing agreements and non disclosure agreements in place for proprietary rights. These licenses and agreements should not be drawn up in a way to quell the entrepreneurial spirit needed in any growing organization. Each member of the entire team needs to be able to contribute to realization of organizational objectives. Not seeking to be detrimental in any skill set in the organization – but creating a team culture that opens doors for the IT professionals and the professionals on the floor who use the IT tools. Bibliography Cherbakov Et Al. (2007). Changing the corporate IT development model: Tapping the power of grassroots computing. IBM Systems Journal, 46(4), 1-20.

Problems Tourists Faced Arriving In Malaysia Tourism Essay

Problems Tourists Faced Arriving In Malaysia Tourism Essay Malaysia is a tourist-driven economy, besides manufacturing sector such as the auto industry and other important sectors that are driving the Malaysias economy. Tourism sector is Malaysias second largest revenue earner, after manufacturing. Tourism involves many players including tourists, businesses, tourism managers, host communities and society. All players need to derive benefits from tourism for tourism to be truly successful. The aspirations of these players are partially competing tourists seek to maximise consumer surplus, i.e. get the best experience possible for the least cost, while businesses seek to maximise (short-term) profits and host communities are interested in long-term income and employment as well as net benefits. Usually tourism success is measured by the number of tourists entering the country. This measure is useful when assessing tourism at a national scale since economic activity generated can be assumed to be dependable to tourist numbers. Thus, from a national or even state perspective it is useful to pursue an increase in tourist numbers, both international as well as inter- and intra-state. 2. Problems Tourists Faced Arriving in Malaysia There several problems tourists may faced when arriving in Malaysia. 2.1 Inadequate Infrastructural Facilities. Some states have experiencing inadequate infrastructural facilities and related services particularly in relation to accommodation and transportation. The immediate problem in several regions in Malaysia, for example, is the shortage of resort-type hotels. The deficiency also extends to suitable accommodation facilities for budget class tourists. This is more apparent that some islands with tourist potential off mainland Borneo have not been provided with accommodation facilities. In relation to transportation, public transports are too frequently not available to tourist destinations away from the main city or towns. Tourists have to hire taxis which are expensive to reach their destinations. 2.1.1 Possible Solutions Investment Incentive and Allocation for Development The government, through the relevant authorities, is urged to offer financial and enhanced investment incentive for investment in tourism related infrastructural facilities. A more direct role is to increase the allocation for development of infrastructure in potential but undeveloped tourist site. Public transport shall also be made available to remote tourist destinations. 2.2 Increase in Crime Instances where there are increases of crime due to the increasing of tourist numbers include the following: (i) Tourists as Victims of Thefts and Robbery Despite friendly warning from hotel staff, taxi drivers, and locals, the tourists are less likely to observe the normal safety precautions they would do at home. So valuables are left in clear view in locked or unlocked motor vehicles or unattended on a beach. In addition, hotel rooms or apartment are not properly secured, and cameras, money, jewelry are left lying around. Incident as per Appendix I highlights how a Britons holiday was ruined by snatch thieves. (ii) Hot Spots Location Foreign tourists use to frequenting places such as bars, nightclubs and strip joints catering to tourists and providing ancillary services such as prostitution and drugs. These places are prone to criminal activities. 2.2.1 Possible Solutions Round the Clock Patrol by Tourist Policemen Strengthening tourist police and the plainclothes special strike force personnel on round-the-clock patrol may help reduce petty crimes like pick pocketing. In Kuching, Sarawak, there are now more than 30 tourist policemen and 20 special strike force personnel on regular patrols along the waterfront and nearby areas frequented by tourists. 2.2.2 Safety and Security at Tourist Areas Patrolling of tourist areas by Malaysian Navy especially those around popular islands will reduce the instances of piracy, thus, convincing the tourists that they are in secured area.. 2.3 Language Barrier and Communication Skills. The country in general and Sarawak in particular is experiencing the shortages of tour guides who can speak foreign languages such as Japanese and Korean. The Ministry of Tourism has acknowledged that Japanese and Korean-speaking tourist guides are in demand to cater the increasing number of these two groups of tourists. Tourists seek assistance in order to achieve their goals. What some times occur is a degree of intercultural miscommunication. At tourist offices, information kiosks, reservation desks and the like, a tourist may expect a simple smile, some small talk, asked how he is enjoying himself, where he is from, how else he could be further assisted. Yet another tourist may expect to be offered assistance before he has to request it. However, some of the elements of good communication skills have been lacking among the tourist front liners. 2.3.1 Possible Solutions Attending Classes It is of paramount importance for the relevant authority to initiate special classes or courses for the tourist front liners to master the relevant languages and improve their communication skills. 3. Recommendations on How to make Malaysia Attractive to Tourists. 3.1 Programme for Tourists. Supports a programme of events (e.g. dragon boat festival), arts (e.g. presentation of local artist collections), sports (e.g. Formula One, F1,) and other culture (e.g. cultural villages). The Malaysia populations must support all these events so that the local crowds from all ways of life and cultures will attract foreign tourists. Malaysia has been organising programme of events that have attracted tourist to visit the country. Examples of such events are: Le Tour De Langkawi Petronas Malaysian F! Grandprix Malaysian Water Festival Labuan International Sea Challenge Dragon Boat Festival Mount Kinabalu International Climbathon Sarawak Regatta 3.1.1 Le Tour de Langkawi This is a sports tourism highlight in Malaysia. It was first held in 1996, and have been successfully organized annually. Le Tour De Langkawi is all about cycling, competing among the best cyclist from other part of the world. It is said that the Le Tour De Langkawi is equivalent to the prestigious status of several major races in Europe. The race attracts many international journalists leading to reports and images published world wide. Travel features are also written illustrating the beautiful country and what it has to offer the tourist. The race is named after the original starting point of the race, Langkawi in Kedah, but has since shifted away, sometimes avoiding it altogether. Nowadays, the Tour de Langkawi kicks off at the Petronas Twin Towers in Kuala Lumpur or at the administrative capital of Putrajaya. 3.1.2 Malaysia Water Festival Attractive events at the festival are dragon boat race, boat race as well as kayak and raft competitions. There are also family-oriented programmes such as beach sepak takraw, beach football, beach volleyball and sand castle building. This festival is to further promote Langkawi as a tourism destination and Pulau Chenang as a tourist spot, he told reporters here. 3.2 Development and Enhancement of Historical Places. Historic buildings and historical areas can be developed and promoted as tourism products to attract foreign as well as domestic tourist and directly will generate revenue from foreign exchange. Historic buildings being restored and converted into museums, art galleries, restaurants and tourist centres are common phenomena in many European countries. In Malaysia, examples of heritage cities include Georgetown, Malacca, Kota Bharu, Taiping, Kuala Lumpur and Kuching. Many tourists visit heritage cities to encounter and experience their architecture, historic sites and local cultures. Conservation activities help develops the preservation of such historic characters and traditional flavours for the benefit of tourism. Moreover, the conservation of heritage cities could bring economic returns to many sectors including travel agents, tour operators and owners of historic premises. 3.3 Attractions of Islands, Beaches and Shopping Destinations. Many of Malaysian islands are famous worldwide. More than one island has been called a tropical paradise. Pulau Perhentian (Terengganu), which consists of two islands Pulau Perhentian Besar and Pulau Perhentian Kecil have beautiful coral gardens within its waters. Pulau Langkawi, which is famous for the Mahsuri legend, is also a duty-free shopping haven. This paradise also offers several attractions besides its beaches. Theres Telaga Tujuh (Seven Wells), Tasik Dayang Bunting (Lake Of the Pregnant Maiden), wildlife sanctuary Pulau Singa Besar and Pulau Payar Marine Park, to name a few. As far as shopping destinations are concerned Kuala Lumpur (KL), which is also known as the Garden City of Lights, has much to offer the traveller. Shopping havens can be found in Chinatown, Little India, Central Market, local bazaars and the many luxurious shopping malls.

Use of Language in Out of Africa by Grace Nichols :: essays research papers

This poem takes us on a journey of Grace Nichols life, from her ancestry in Africa to her migration from the Caribbean to England. Language features such as extended metaphor’s and repetition of phrases help to keep this journey flowing. The first language feature we come across is the repetition of the words ‘out of’ and ‘into’. The phrases being repeated help to link past and present. The first stanza repeats ‘Out of†¦Ã¢â‚¬â„¢ This talks about Grace’s ancestry, i.e. coming out of before her time. The second and third stanza ‘Into†¦Ã¢â‚¬â„¢ is about her life and her past. Grace lived in the Caribbean and moved to England so the ‘into’ refers to her life experiences. Personification is used widely throughout the poem, an example of this is the personification of the word mother. ‘ Out of Africa of the suckling.’ The word mother is not specifically mentioned in the line but sucking refers to the relationship between mother and child. The second reference to mother is a personification of the earth, ‘Out of Africa of the first rains, the first mother. This personification is symbolic and has references to the past, the first rains being those rains of a long time ago. The personification of the ‘trampled autumn tongues,’ can be taken on two levels. (It is also an extended metaphor!) Trampled autumn tongues could be taken literally i.e. leaves being trampled on or metaphorically. The leaves could be reference to the tongues of the slaves (slaves tongues would be cut off if they were caught speaking between each other in their native tongue.) The structure of the poem is also interesting, there are three stanzas’, the first and second stanza are equal in length but the third is slightly longer. The third stanza is the longest because that is where she is living now and has been the longest. The narrative voice in the poem is the voice of the African people. The tone is sarcastic and hast a hint of mocking to it, with parts such as ‘ baleful tourist glair’ and ‘ happy Creole so-called mentality.’ These lines show the ignorance of the white tourists that come to the Caribbean expecting everyone else (Caribbean people) to be happy just because they are on holiday. This is a white persons stereotype of the Caribbean and so the tourists are labeled as having a baleful glair.

Samuel Clemens :: essays research papers fc

The Life of Samuel Clemens A.K.A. Mark Twain Samuel Langhorne Clemens is better known as Mark Twain, the distinguished novelist, short story writer, essayist, journalist, and literary critic who ranks among the great figures of American Literature. Twain was born in Florida Missouri, in 1835, To John Marshall Clemens and Jane Lampton. As a new born Twain already had moved four times westward. In 1839 the family moved again, this time eastward to Hannibal, Missouri. Hannibal was a frontier town of less than 500 residents. As small as the town was it offered valuable materials and opportunities for a young writer. Most of the residents knew Samuel well, considering they were on the lower half of the social scale, such as poor whites and slaves. The town of Hannibal was mostly used for farmers coming in from the countryside. It was also a river town, swamped with travelers moving up stream and down stream. Some of the travelers were steamboat men, circus performers, minstrel companies, and showboat actors. Since all this action was going on all the time, that opened a big door to the beginning of Samuel’s stories. It provided a huge source of literary material. Shortly after the death of his father in 1847, he ended the brief period of his schooling to become a printer’s apprentice. Like many nineteenth century authors, he was preparing for his writing career later in life. Working as a Printer’s apprentice he got practice as a typesetter and miscellaneous reading. The first thing Samuel wrote as a used piece was a few skits for his brothers Orion’s Hannibal newspaper and a sketch, for The Dandy Frightening The Squatter, published in Boston in 1852. The first real book ever published by Mark Twain was Life on the Mississippi River. Between 1853 and 1857 Clemens worked a journeyman printer in seven different places. During this trip of making sketches and writing stories, he began eastward by boat. Twain started writing letters telling a bout his visits to New York and the Middle West in 1867. On his trip he seemed to have gotten him self in a lot a trouble such as disorderly conduct. After time passed Mark kept writing short stories here and there and a few sketches also. However, in 1869 he became part owner of the Buffalo Express. In 1870 Mark met the girl of his dreams and Olivia Langdon and

The Caribbean’s Cultural History Essay -- Culture Caribbean History Ra

The Caribbean’s Cultural History Columbus’ discovery in 1492 set off a chain of events in the emergence of the Caribbean society, as Knight states in his book The Caribbean. "The first voyage of Columbus in 1492 fortuitously discovered a whole new world and set in motion a chain of events whose profound consequences gave new directions to the histories of Europe, Africa, the Americas, and Asia. It was the voyages of Columbus and those who followed him that brought the Americas into the consciousness of the Europeans"(Knight 28). Many people question whether the discovery made by Columbus was beneficial or deteriorating for the indigenous people of the Caribbean. It was the exploration and discoveries by Columbus that further led to the exploitation of the newfound colonies and its native people. But without this exploitation, the Caribbean would not be as rich in culture as it is today. For instance, Puerto Ricans, Jamaicans, and Dominicans would not be who they are today if Columbus would not have conquered the indigenous people of the island, and set off the proceeding sequence of events. Eventually during the slave trading period, the exploitation expanded into Africa, as Europe, and especially Spain, had high hopes and expectations for the Caribbean colonies. The Europeans saw these newfound colonies as trading posts, and many saw the discovery of these islands as a way to expand and convert the indigenous people of the islands into Christianity, and exploit their land in search of gold and other valuabl e resources. The history of the Caribbean is very unique and diverse. The progress and advancement of each island complied with the European country in control of it. One of the most common characteristics of the ... ...of the Caribbean would not be so rich in culture. It was the Caribbean’s unique chain of events, which helped to shape the culture and traditions of the area, and African slavery was just another major aspect. It was the slave experience then, which helped to further define what we characterize as Puerto Ricans, Dominicans, Haitians, and Jamaicans today. Bibliography Beckles, Dr. Hillary, Verene Shepard. Caribbean Slave Society and Economy, The New Press, New York, N.Y. 1991. Cliff, Michelle. Abeng. Penguin Group, 1984. Knight, Franklin W. The Caribbean, The Genesis Of a Fragmented Nationalism. Oxford University Press, New York, N.Y. 1990. Benitez-Rojo, Antonio. The Repeating Island, Duke University, Durham & London, 1992. Mintz, Sidney W. The Caribbean as a Socio-Cultural Area, Peoples and Cultures of the Caribbean, Garden City, New Jersey, 1971.

Practicum 7 Final Report

————————————————- University of Trinidad and Tobago ————————————————- School of Cognition and Learning Practicum VII Lecturers’ Names : L. Payne A. A Wilson L. Perez Student Name : Amrit Harrilal Student ID : 111007714 Contents Schedule of my classes4 Reflections5 LESSON PLANS13 WORKSHEETS THAT WERE/WERE NOT DISTRIBUTED32 POB lesson notes39 Principles of Accounts Lesson Notes52 Principles of Business Scheme of Work62 Principles of Accounts Scheme of Work64 Schedule of my classesAll of my classes were double periods. My subjects are taught for six periods in the six day cycle at the school. My first teaching day was on Wednesday 17th October for the last two periods of the day where I taught Principles of Business. My next class was on Friday 19th October fo r the first two periods, the subject was also Principles of Business. On Monday the 22nd October I taught Principles of Accounts and on Tuesday the 23rd October I taught Principles of Business for the first two periods and then Principles of accounts for the third and forth periods.My last teaching day was on Thursday 25th October however I was not able to teach this lesson due to the school having a cultural program for the scheduled time of my class which would have been the last two periods of the day. Reflections Reflection for first class. The first class that I taught was on Wednesday 17th October. The class was a double period and it was for the last two periods of the day. My co operating teacher miss Rodney was present as well as my supervisor Miss Perez.I believe that the class went well and I was able to achieve the objectives I set out to do in a reduced time period. There was a delay in starting the class because the teacher wanted to take roll, and I was waiting for st udents to come into the class to begin. I lost about 10 minutes waiting for the class to start and during this time I was beginning to get nervous. The class was hot and humid and my constant nervous perspiring was not making it any easier. After a little while the nerves were gone and I was able to talk normally to the class.The set induction that I used was effective because I used the example of 4 football teams and their leadership style and the students responded well to my set induction. The class is mainly boys and it is football season and the school is doing well in the local league so I thought it would have been a good idea to use the example of football teams to make the example more relating to the content. Throughout the lesson I referred back to the set induction to draw reference to the similarities between the teams and the different economic systems.As the class progressed I thought a student was testing me because of the question he asked which had nothing to do w ith the content that I was teaching. The question he asked was â€Å"what would happen if an unstoppable object were to hit an immovable object† I responded by saying â€Å"What does that question have to do with economic systems, but to answer your question, I believe that nothing would happen. † I thought I handled the situation well and my classroom management skills were effective, I walked around to check to see if they were taking notes and to generally have my presence felt throughout the class.I was getting a lot of questions from one side of the class and so my attention was mostly directed to that side of the class, something that I would like to remedy for my subsequent classes and for the rest of my teaching career. Due to the lack of time my assessment would have had to be done for homework. I did manage to complete the content that I wanted to teach. At the end of the class my supervisor told me that the lesson went well and in my future lessons to use gr oup work or group activities and to have some resources such as charts.The charts I think would have been a nice addition to the lesson, and maybe I can turn the chart into a game to make it fun and interactive for the students. The group work I was going to do it but after seeing another class work in groups or attempt to work in groups I think it would have worked against me. While observing a class they were arguing and not working together to do the case study and one student walked out of the class while I was supervising and I had to go talk to her outside and get her to come back in class.She was saying how she can’t work with people and how people are stupid. I told her that if she going into the business environment it is a lot of team oriented work that has to be done and that she should get accustomed to it from now. After that little conversation she came back into class. Another student was not doing anything in the class so when I asked him what he has done so f ar he said nothing. I asked him â€Å"Is that what you plan to do for the rest of your life, nothing? Are you going to live off your parents for the rest of your life? How are you going to mine a family? I was just asking him questions to think about his future he watched me and then after that he started doing some work. Supervising that class was a little challenge because of trying to get them to work together. They did not work how a group supposed to work. A few people were doing the work and the others were â€Å"loafing† and that defeats the whole purpose of group activities. That was the main reason I did not want to have group work. Another challenge that I know I have to work on was my handwriting on the board, and layout of the work on the board.At first I started writing notes on the board like I was giving a lecture and then I started putting the notes in a better layout. I plan to use the extreme left of the board to write objectives on the board and use the mi ddle and right of the board to give notes. I prefer to give notes in point form as it is easier to read and it is faster to write. It also allows students to get clear information rather than give an entire paragraph, it is easier to give them the points and they would be better able to understand and remember the information.Also previously I gave them handouts as my method for giving them information but most of the time those students never used the handouts, they did not read it and once I gave them it they just put it away. This term I decided to have them write it out rather than just give them the information. I would let them tell me what they know first and write it on the board even if it was wrong and then ask them to explain to try and make a link and to encourage them to answer and ask questions and make relations. After this is done the correct notes would be placed on the board and they would be told to write it down.Overall I believe that the lesson went well, I was a bit worried at first because it was the first time I met the students and it was my first class and my practicum advisor was coming to observe me as well, I felt I started off a little shaky and then when the butterflies left I was normal once again. At a point in time I even forgot I was being observed. The only hiccup I think was the example I used with Nike and the â€Å"Battas† but from the crosstalk I heard them mention Rattans and imitation goods so I believe they got the point I was trying to bring across.Aside from that if I had got the class to start on time I believe I would have gotten to at least start the worksheet. Reflection for the second class This class took place on Friday 19th October. The class was scheduled for the first 2 periods of the day but unfortunately I was only able to teach for one period. The school security were doing searches at the gate and this delayed me by an entire period as there were only 5 students in the class until around 9 when more kept filing in until I had about 11-15.This lesson we were supposed to do command economies and market economies but I was only able to do features and advantages of command economies with the time I got. I thought this was good because they took some time to settle, one of the students even suggested to me to start the class with a prayer and I did. I was surprised that they would even suggest it. It seemed to me that the prayer settled them because they were behaving, taking notes, asking and answering questions.I asked them to return the worksheet I gave them in the previous class but only two of them completed it so I told them to complete it for homework. This lesson went well also. The problem that I was having was again writing on the board. I know I have a problem with my handwriting and for that reason I bought a projector but after using it for only 2 months this year it malfunctioned and a component in the circuit board went bad leaving it useless. Aside from that th ere were no bad behaved students and I had to speak louder and spread out my questions more.I was getting a lot of questions from one side of the class so my attention was focused there mostly but I did ask questions to the left side but not as much as the right and middle. This is something I would have to remedy in my future classes. The cooperating teacher told me that she would see if she could get the AV room for me for my other classes, I think that would have been a great asset to the lesson because I would not have to write on the board and the students would have an easier time understanding and be in a cooler environment more suited for learning.Reflection for the third class My third class was on Monday 22nd October. I got to teach Mr Mustgraves Principles of Accounts class. After discussing my lesson plan with him on Friday he said it was good but he believed that I was trying to do too much for that lesson because of how the students behave and there level of motivation . So I adjusted it to suit his suggestions. The class had about 11 students out of 26 this was rather disturbing to me as I noticed a trend and I was rather worried about the students. The topic I was allowed to teach was that of Depreciation.For this lesson I planned to teach some theory about depreciation and then go into the CXC requirements of Straight line and reducing method calculation. To start the lesson I introduced my self to the class and began with telling them about my phone. I said how much I paid for it and how long I had it for and then asked a student so tell me how much they would pay for this phone right now. I then asked another student to tell me how much they would sell their phone for and how much they paid for it. From this they started paying attention and listening to me.As they told me why they would pay less for the phones I wrote the answers down on the board. This was done to introduce the term Depreciation and I think it was well received. From their answers I told them that the term we use to describe the reason the phone lost value was because it depreciated. From this set induction they were able to relate to me reasons an items value would be depreciated. When they gave a response I asked them to elaborate on it so as to have a better understanding so I can make it relate to the lesson.I did not want to discourage them from answering questions so when they said something that was incorrect I asked them to explain their reasoning for it to try and get them to think more along the correct lines by using probing questions and guided questions they were able to answer the initial question I gave them. After discussing the term depreciation, they took notes on depreciation. I then told them that for their examination purposes they would only be required to know two methods of calculating depreciation which were straight line and reducing balance method.I first told them how to calculate the straight line method but a critical mis take I made was not writing down the formula on the board. I told them what it was but I did not write it and I know that was not a good thing to do. I plan to write it on the board for the next class. While doing an example of straight line method I asked them what did they notice about the depreciation per year and they told me that it was the same. I then told them to keep that in mind.We then did the reducing balance method and I gave them an example and calculated the first two years for them so they would see what to do on one side of the board there was the straight line calculation and on the other side of the board was the reducing balance. While working the calculation I was talking to them asking them what to do next and writing on the board. After talking to the cooperating teacher the told me that he was amazed that they could use a calculator because to press the % button on the calculator was beyond them.I then told him well I did not write 30% in the calculations I w rote 30/100 because I assumed they would know that 30% , 30/100 and . 3 are the same in calculating a percentage of a value. So after doing this I went around and checked their books to see if they were working it out correctly, those who were doing it wrong I gave them guidance accordingly. I then asked them, spreading out my questions evenly this time, what to do next for each of the 5 years. One student told me an incorrect answer that I know could not be right because the value he gave me was larger than the initial value.So I went over to him to see what he was doing wrong on the calculator and it seemed to me that he did not know how to calculate the percentage of a value so I showed him and he was able to continue with the calculations. I spent a lot of time giving them individual attention and I can tell that they understood. To me this is the best part of teaching, when your students understand and they want to learn. They even asked me to continue teaching them and when I would be teaching them again.That was really heart warming to me and I really did feel motivated. I only had trouble from one student but he respected me enough to put his head down on the table and not disrupt the class when I was knocking on his table to wake him up the cooperating teacher shook his hand and signalled to leave him so I left him. When the bell rang one of the students asked me to explain something to him with regards to the profit and loss and balance sheet so I said let me go get my bag and I would be back.I returned and explained to him the format of the trading and profit and loss account and balance sheet, another student sat next to me while I was explaining and I could tell they were interested and they were understanding what I was explaining to them. They even told me that my class was the best accounts class they had in 2 years. After the class I asked for an evaluation from the cooperating teacher and he said it was good and that he did have some issues w ith how I portrayed my content. He said the content was not wrong but that there were better ways to display the information and only with practice that I would know of those methods.He said that some of the terms I used as well were not wrong but I were using it in the wrong context one of these were expense and expenditure, and costs. He said to be careful with the terms that I use to explain. Aside from these details he said my lesson was good and I felt it went well also. So to resolve the issues that came up I decided to show the depreciation in a table as Mr Mustgraves suggested and it was well received. I can understand why he said to show it in a table as it is easier to make comparisons between methods.This was an adjustment that I made to my initial lesson. For the follow up lesson I planned to do a review of the first lesson briefly going over the calculation and why items depreciate and then practicing the calculations with them. Reflection for the 4th Class This class t ook place on Tuesday 23rd October. It was for the first two periods of the day and the class was to teach Principles of Business. For this class I finished the disadvantages of the command economy and did the features and advantages of the mixed economy. I did not get to do disadvantages and distribute the worksheet.This class was good, the students were well behaved except for one or two little disruptions, which I think I handled well. One student was particularly animated and as I realised this I called him up to come and sit in front so he would not distract the other students. The objectives were not entirely met and therefore I did not want to distribute the worksheet that I had made for them. The only real problem that I can see would be the handwriting on the board. I did not get the AV room and so I had to write on the board once again. When the class was over I thanked the students for behaving good and for having me for the two weeks.The cooperating teacher also said the lesson went well and the only issue would be to work on my hand writing. Reflection for the 5th class This class took place on Tuesday 23rd October as well. It was for the 2 periods after the break which would have been from 10 to half 11. I went to the class early to draw up the tables for the depreciation. The students said that I real serious and I just laughed. When the bell rang I started the class by greeting the class and doing a short recap of the previous lesson. I wrote the formulas on the board and drew a square around them and gave them a heading.I told them to write it down in their books and I began working examples with them and checking their books to see if they were getting it out. The class had about 16 people on the day and so I had to give them some individual attention to bring them up to speed with the rest of the class with regards to the calculations. Some of them were having difficulty working the calculations so I needed to constantly check on them so ther e was a lot of walking around and individual attention. This class was mostly focused on practice as I was told that the students do not do their homework so the only practice they get is from what they do in class.This lesson went well as I left the class feeling that the students would be able to handle calculations of straight line and reducing balance method of depreciation. I believe that the objectives that I set out to achieve were accomplished as when looking at their books and hearing their answers the content was accurate and well defined. Overall Reflection The practicum experience for this semester was very heart warming and motivating. I really felt that the students learned the content in the classroom due to the examples that they were giving and the responses to the questions that I was asking.With a little probing questions and guiding questions the students were able to answer correctly and make valuable contributions to the class. Right now I am looking forward to going back to the school next term and hopefully preparing the Accounts class for final exams. I am really worried about the class and where they have reached in the syllabus. If I am to teach that class for the upcoming practicum they would have to cover a huge amount of work in a very short space of time this alone is enough to get any teacher worried and frustrated.Also I am very worried about the amount of students who do not attend the class and what would happen to them when they have to write exams. I would have to listen to some words from my secondary school teacher who told us â€Å"You can’t save them all†. It seems that she was right about that. The improvements that I believe I would have to work on would be my handwriting on the board or come up with alternatives to writing on the board. I also have to work on projecting my voice as well as sometimes I forget how loud the other classrooms can be and students may not hear me properly.I think that I have b egan spreading out my questions to all areas of the class and identified a few of the trouble students who might be a little disruptive. Also not setting unattainable objectives, you really have to cater your lesson for your class. Some of the little hiccups and delays can really throw off your lesson timing and how much work that you can get done for the period. Additionally I plan to start incorporating little group activities or exercises in my future lessons. I am looking forward to the next practicum experience and hope to become and even better teacher than before.LESSON PLANS LESSON PLAN SCHOOLEl Dorado East SecondaryYEAR2012-2013TERM1 FORM4G4DURATION OF LESSON80 minutesEXAMINATION BODYCXC SUBJECTPrinciples of BusinessNO. OF STUDENTS 26AGE RANGE UNIT TOPICThe Nature of BusinessLESSON TOPIC. Economic Systems GENERAL OBJECTIVESStudents will: 1 Demonstrate knowledge of the various types of Economic Systems SPECIFIC OBJECTIVESStudents will: Cognitive Domain 1Define economy and ec onomic system 2Describe the Traditional System 3Describe the Market System Psychomotor Domain 1Write short notes to develop note taking skillsAffective Domain 1Appreciate the significance of the various Economic Systems in Principles of Business Previous Knowledge Types of businesses, market, demand, supply TIME| ELEMENTS| CONTENT| TEACHING-LEARNING METHODS| TEACHING-LEARNING RESOURCES | TEACHER ACTIVITIES| STUDENT ACTIVITIES| EVALUATION| | Set InductionPresentation 1Summary 1Presentation 2Summary 2Presentation 3Summary 3EvaluationClosure| Short storyInform ObjectivesDefining – economy-economic systemIdentifying the 4 types of economic systemsReview of presentation 1Defining : – Traditional SystemWhat is it?Describe life in the traditional system. Review of presentation 2 Defining-The market systemAdvantages and disadvantages of the market systemReview of presentation 3ExerciseThank students and tell them to prepare for their next class| Discussing, QuestioningDiscussi ngQuestioningDiscussing, informing, questioningQuestioning, discussingDiscussing, informing, questioning Questioning , DiscussingDistribute worksheet. Lesson notes, black board, black board black board black board, Lesson notes black board Lesson notes, black board, black board Lesson notes, black board, black board. Lesson notes| DiscussionWriting on black boardAsking QuestionsDiscussionAsking questions,Discussion, writing on he black boardDiscussion, askingQuestions, writing on black board Asking questions,Discussion, writing on the black boardAsking questions,Discussion, writing on the black boardAsking questions,Discussion, writing on the black board| Listening, respondingAnsweringAskingQuestions,Respondinglisteningwriting, listening, asking questions, respondingwriting, listening, asking questions, respondingwriting, listening, asking questions, respondingwriting, listening, asking questions, responding| FormativeFormativeFormativeFormativeFormativeFormativeFormativeSummative|A dditional lesson notes: I was not able to do the worksheet due to the late start of the class. The work sheet was distributed to do as homework. LESSON PLAN SCHOOLEl Dorado East SecondaryYEAR2012-2013TERM1 FORM4DURATION OF LESSON90 minutesEXAMINATION BODYCXC SUBJECTPrinciples of BusinessNO. OF STUDENTS 26AGE RANGE 14-16 UNIT TOPICThe Nature of BusinessLESSON TOPIC. Economic Systems GENERAL OBJECTIVESStudents will: Demonstrate Knowledge of the various types of Economic Systems SPECIFIC OBJECTIVESStudents will: Cognitive Domain 1 Describe the Command and Mixed economic system 2 Explain the advantages and disadvantages of the Command economic system 3 Explain the advantages and disadvantages of the Mixed economic system Psychomotor Domain 1Write notes neatly in their books * Affective Domain Appreciate the significance of the various economic Systems in business Previous Knowledge Types of businesses, market, demand, supply, market system, traditional system TIME| ELEMENTS| CONTENT| TE ACHING-LEARNING METHODS| TEACHING-LEARNING RESOURCES | TEACHER ACTIVITIES| STUDENT ACTIVITIES| EVALUATION| | Set InductionPresentation 1Summary 1Presentation 2Summary 2Presentation 3Summary 3EvaluationClosure| Review of Market and traditional conomiesInform ObjectivesDefining – command systemFeatures of command systemReview of presentation 1Advantages and Disadvantages of the Command SystemReview of presentation 2 Defining-The mixed systemFeatures of the mixed systemAdvantages and disadvantages of the mixed systemReview of presentation 3ExerciseWrite homework on the board, Thank students and tell them to prepare for their next class| Discussing, QuestioningDiscussingQuestioningDiscussing, informing, questioningQuestioning, discussingDiscussing, informing, questioning Questioning , DiscussingDistribute worksheet. Lesson notes, black board, black board black board black board, Lesson notes black board Lesson notes, black board, black boardlesson notes Lesson notes, black board, | DiscussionWriting on black boardAsking QuestionsDiscussionAsking questions,Discussion, writing on the black boardDiscussion, askingQuestions, writing on black board Asking questions,Discussion, writing on the black boardAsking questions,Discussion, writing on the black boardAsking questions,Discussion, writing on the black board| Listening, respondingAnsweringAskingQuestions,Respondinglisteningwriting, listening, asking questions, respondingwriting, listening, asking questions, respondingwriting, listening, asking questions, respondingwriting, listening, asking questions, responding| FormativeFormativeFormativeFormativeFormativeFormativeFormativeSummative| End of lesson notes: I was only able to teach for one period instead of two due to the bag searches at the gate delaying students to arrive to class on time. The class started at ten past nine when it was scheduled to start at nine. For this I would do the remainder of this lesson on my next teaching day which would be on Tuesd ay 23rd October. LESSON PLAN SCHOOLEl Dorado East SecondaryYEAR2012-2013TERM1 FORM5DURATION OF LESSON90minEXAMINATION BODYCXC SUBJECTPrinciples of AccountsNO.OF STUDENTS 26AGE RANGE 14-17 UNIT TOPICEnd of Period AdjustmentsLESSON TOPIC. Depreciation GENERAL OBJECTIVESStudents will: Demonstrate an understanding of depreciation using conventional accounting methods SPECIFIC OBJECTIVESStudents will: Cognitive Domain 1. Define Depreciation 2. List the causes of depreciation 3. Name the factors to be considered when calculating depreciation Psychomotor Domain 1. Calculate the Depreciation using straight line method 2. Calculate Depreciation using reducing balance method Affective Domain 1. Appreciate the significance of depreciation for the use in accounting 2. Value the importance of using Straight line or Reducing balance method in accounting Previous KnowledgeTIME| ELEMENTS| CONTENT| TEACHING-LEARNING METHODS| TEACHING-LEARNING RESOURCES | TEACHER ACTIVITIES| STUDENT ACTIVITIES| EVALU ATION| | Set InductionPresentation 1Summary 1Presentation 2Summary 2Presentation 3Summary 3EvaluationClosure| Story about phoneInform ObjectivesDefining * Depreciation * Causes of depreciation * Factors to consider when calculating depreciationReview of presentation 1CalculatingStraight Line methodReview of presentation 2 CalculatingReducing Balance MethodReview of presentation 3ExerciseWrite homework on the board, Thank students and tell them to prepare for their next class| Discussing, QuestioningDiscussingQuestioning, discussingDiscussing, informing, questioning, guidingQuestioning, discussingDiscussing, informing, questioning Questioning , DiscussingWrite exercise on board| Lesson notes, black board, black board black boardlesson notes black board, Lesson notes black boardLesson notes, black board, black board Lesson notes, black board, | DiscussionWriting on black boardAsking QuestionsDiscussionAsking questions,Discussion, writing on the black boardDiscussion, askingQuestions, writing on black board Asking questions,Discussion, writing on the black boardAsking questions,Discussion, writing on the black boardAsking questions,Discussion, writing on the black board| Listening, respondingAnsweringAskingQuestions,Respondinglisteningwriting, listening, asking questions, respondingwriting, listening, asking questions, respondingwriting, listening, asking questions, respondingwriting, listening, asking questions, respondingAsking questions, Discussing, Responding| FormativeFormativeFormativeFormativeFormativeFormativeFormativeSummative| Additional lesson notes : I was able to complete the lesson LESSON PLAN SCHOOLEl Dorado East SecondaryYEAR2012-2013TERM1FORM4DURATION OF LESSON90 minutesEXAMINATION BODYCXC SUBJECTPrinciples of BusinessNO. OF STUDENTS 26AGE RANGE 14-16 UNIT TOPICThe Nature of BusinessLESSON TOPIC. Economic Systems GENERAL OBJECTIVESStudents will: 1Demonstrate Knowledge of the various types of Economic Systems SPECIFIC OBJECTIVESStudents will: Cogn itive Domain 4 Describe the Command and Mixed economic system 5 Explain the advantages and disadvantages of the Command economic system 6 Explain the advantages and disadvantages of the Mixed economic system Psychomotor Domain 1Write notes neatly in their books * Affective Domain 1Appreciate the significance of the various economic Systems in business Previous KnowledgeTypes of businesses, market, demand, supply, market system, traditional system TIME| ELEMENTS| CONTENT| TEACHING-LEARNING METHODS| TEACHING-LEARNING RESOURCES | TEACHER ACTIVITIES| STUDENT ACTIVITIES| EVALUATION| | Set InductionPresentation 1Summary 1Presentation 2Summary 2Presentation 3Summary 3EvaluationClosure| Review of market and advantages of command economiesInform ObjectivesDisadvantages of Command EconomiesReview of presentation 1Defining-The mixed systemFeatures of the mixed systemReview of presentation 2 Advantages and disadvantages of the mixed systemReview of presentation 3ExerciseThank students and tell them to prepare for their next class| Discussing, QuestioningDiscussingQuestioningDiscussing, informing, questioningQuestioning, discussingDiscussing, informing, questioning Questioning , DiscussingDistribute worksheet. Lesson notes, black board, black board black board black board, Lesson notes black board Lesson notes, black board, black boardlesson notes Lesson notes, black board, | DiscussionWriting on black boardAsking QuestionsDiscussionAsking questions,Discussion, writing on the black boardDiscussion, askingQuestions, writing on black board Asking questions,Discussion, writing on the black boardAsking questions,Discussion, writing on the black boardAsking questions,Discussion, writing on the black board| Listening, respondingAnsweringAskingQuestions,Respondinglisteningwriting, listening, asking questions, respondingwriting, listening, asking questions, respondingwriting, listening, asking questions, respondingwriting, listening, asking questions, responding| FormativeFormativ eFormativeFormativeFormativeFormativeFormativeSummative| | | | | | | | | Additional lesson notes : I was unable to complete this lesson due to the late start. I completed up to advantages of the mixed system and so the work sheet was not distributed. I plan to distribute the worksheet in my final class where the students would have all information to answer the questions correctly. LESSON PLAN SCHOOLEl Dorado East SecondaryYEAR2012-2013TERM1 FORM5DURATION OF LESSON90minEXAMINATION BODYCXC SUBJECTPrinciples of AccountsNO.OF STUDENTS 26AGE RANGE 14-17 UNIT TOPICEnd of Period AdjustmentsLESSON TOPIC. Depreciation GENERAL OBJECTIVESStudents will: 1Demonstrate an understanding of depreciation using conventional accounting methods SPECIFIC OBJECTIVESStudents will: Cognitive Domain 1. Explain the concept of depreciation 2. Assess the factors that cause depreciation Psychomotor Domain 3. Calculate the Depreciation using straight line method 4. Calculate Depreciation using reducing balance m ethod Affective Domain 3. Appreciate the significance of depreciation for the use in accounting 4. Value the importance of using Straight line or Reducing balance method in accounting Previous KnowledgeFixed asset, cost, current asset, depreciation, straight line method, reducing balance method, profit, loss, salvage value TIME| ELEMENTS| CONTENT| TEACHING-LEARNING METHODS| TEACHING-LEARNING RESOURCES | TEACHER ACTIVITIES| STUDENT ACTIVITIES| EVALUATION| | Set InductionPresentation 1Summary 1Presentation 2Summary 2EvaluationClosure| Quickly review how to calculate depreciation on the board. Inform ObjectivesPractice working an example of Straight Line method and reducing balance method as a classCorrect work done in presentation 1Practice working an example of Straight Line method and reducing balance method in pairsCorrection of the exerciseWork an example individuallyCorrect exercise.Thank students and tell them to prepare for their next class| Discussing, QuestioningWriting on th e boardDiscussingQuestioningWritingQuestioning, discussingWriting on boardDiscussing, informing, questioning, guidingQuestioning, discussingWriting on boardQuestioning , DiscussingWrite exercise on board| Lesson notes, black board, black board black boardlesson notes black board, Lesson notes black boardLesson notes, black board, black board Lesson notes, black board, | DiscussionWriting on black boardAsking QuestionsDiscussionAsking questions,Discussion, writing on the black boardDiscussion, askingQuestions, writing on black board Asking questions,Discussion, writing on the black boardAsking questions,Discussion, writing on the black board| Listening, respondingAnsweringAskingQuestions,Respondinglisteningwriting, listening, asking questions, respondingwriting, listening, asking questions, respondingwriting, listening, asking questions, respondingwriting, listening, asking questions, responding| FormativeFormativeFormativeFormativeFormativesummative| Additional lesson notes : I was able to complete the lesson. This lesson was a practical lesson where the students got to practice what they learned in he previous class until mastery of the content was attained. LESSON PLAN SCHOOLEl Dorado East SecondaryYEAR2012-2013TERM1 FORM4DURATION OF LESSON90 minutesEXAMINATION BODYCXC SUBJECTPrinciples of BusinessNO. OF STUDENTS 26AGE RANGE 14-16 UNIT TOPICThe Nature of BusinessLESSON TOPIC. Economic Systems GENERAL OBJECTIVESStudents will: 1Demonstrate Knowledge of the various types of Economic Systems SPECIFIC OBJECTIVESStudents will: Cognitive Domain 1 Explain the disadvantages of the Mixed economic system Psychomotor Domain 1Write notes neatly in their books * Affective Domain 1Appreciate the significance of the various economic Systems in business Previous KnowledgeTypes of businesses, market, demand, supply, market system, traditional system TIME| ELEMENTS| CONTENT| TEACHING-LEARNING METHODS| TEACHING-LEARNING RESOURCES | TEACHER ACTIVITIES| STUDENT ACTIVITIES| EVALUA TION| | Set InductionPresentation 1Summary 1Presentation 2Summary 2Summary 3EvaluationClosure| Review of command and features of mixed economiesInform ObjectivesDisadvantages of mixed economiesReview of presentation 1Quick Recap of all economiesReview of presentation 2 Review of presentation 3ExerciseThank students and tell them to prepare for their next class| Discussing, QuestioningDiscussingQuestioningDiscussing, informing, questioningQuestioning, discussingQuestioning , DiscussingDistribute worksheet to be done in class| Lesson notes, black board, black board black board black board, Lesson notes black board Lesson notes, black board, Lesson notes, black board, | DiscussionWriting on black boardAsking QuestionsDiscussionAsking questions,Discussion, writing on the black boardDiscussion, askingQuestions, writing on black board Asking questions,Discussion, writing on the black boardAsking questions,Discussion, writing on the black board| Listening, respondingAnsweringAskingQuestion s,Respondinglisteningwriting, listening, asking questions, respondingwriting, listening, asking questions, respondingwriting, listening, asking questions, responding| FormativeFormativeFormativeFormativeFormativeFormativeSummative| | | | | | | | |Additional lesson notes : this would be the lesson for the class that I did not get to teach on Thursday 25th October due to the cultural programme that it had in the school. The plan for this lesson would be to finish off the last bit of content and then distribute a worksheet for the students to do in class either individually or in pairs. For the students who want to work by them self I planned to allow them to do so to allow for a smooth transition in the class and less disruptions in an already disruptive class. They would be allowed to use their resources to get the correct answers. There would be no reflection for this class as it was not actually taught. WORKSHEETS THAT WERE/WERE NOT DISTRIBUTED El Dorado East Secondary School Princ iples of Business Form 4 Date ______________________Student Name (block letters)_____________________________________________________________ 1. Economy can be defined as which of the following (tick the correct answer) A. The efficient use of resources B. The inadequate distribution of wealth in a country C. The study of demand and supply D. None of the above 2. The way a country utilises its resources to meet current and future needs is also referred to as economy True/False 3. In the space provided below name the different types of economic systems ————————————————- ————————————————- ————————————————- ——————à ¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 4.This system is where people provided for themselves and their families through direct production. Name the system here ________________________________________ 5. Give an example of the above system _______________________________________ 6. Name 3 of the economic activities for the above system _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 7.A market is defined as ______________________________________________________________________________________________________________________________________________________________________ __________________________________________________________________________________________________________________________________________________________________________________________________ 8. Give three features of the Market System I. _____________________________________________________________________________ _______________________________________________________ II. ____________________________________________________________________________________________________________________________________ III. ____________________________________________________________________________________________________________________________________ 9. List three Advantages of the market system ____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ___________________________________________________________ 10. List 2 disadvantages of the Market system ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 11. What are your thoughts on the two systems discussed in class today? __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ _____________________________________________________________________________________________________________________________________________________ El Dorado East Secondary School Principles of Business Form 4 Date ______________________ Student Name (block letters)_____________________________________________________________ 12. What are some other names for the command system i. Planned ii. Directed iii. Controlled a. I,iii,iii b. I and ii only c. I only d. I and iii only 13.In a command system the government has control of all resources in the country. True/False 14. In the space provided below name 3 features of a command economic system ————————————————- ————————————————- ——————————†”—————- ————————————————- 15. Name three countries that practice the command economic system in more recent times ________________________________________________________________________________________________________________________________________________________________________________________________________________________ 16.Give 3 advantages and 3 disadvantages of the command system ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ __________________________________________________ 17. The mixed economic system is a system where ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 18. Give three features of the Mixed System ________________________________________________________________________________________________________________________________________________________________________________________________________________________ 19. List three Advantages of the mixed system ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ _________________________________________________________ 20. List 2 disadvantages of the Mixed system ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 21. What are your thoughts on the two systems discussed in class today? _____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________________________________________________________ _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ POB lesson notes Lesson Notes Introduction/Set Induction Story about the four football teams which represent one of each type of economic system.Each team has features of one of the major economic systems. Objectives Students will: Cognitive Domain 1Define economy and economic system 2Describe the Traditional System 3Describe the Market System Psychomotor Domain 1Write short notes to develop note taking skills Affective Domain 1Appreciate the significance of the various Economic Systems in Principles of Business Presentation 1 Defining Economy Economy * The efficient use of resources * The activities involved in the production and distribution of goods and services in a country or region * A countries income, products and resources and how efficiently these are being utilized to meet current and future needsDefining Economic System * The way in which a society organizes for the production and distribution of goods and services The 4 types of economic system * Traditional or subsistence economic system * Free market or laissez-faire or capitalist economic system * The planned/command/directed economic system * Mixed economic system Summary 1 – (Formative) What does the term economy mean? * The efficient use of resources * The activities involved in the production and distribution of goods and services in a co untry or region * A countries income, products and resources and how efficiently these are being utilized to meet current and future needsWhat do you understand by the term economic system? – The way in which a society organizes for the production and distribution of goods and services Name the 4 types of economic systems * Traditional * Command * Market * Mixed Presentation 2 Traditional system The traditional system is where people provide for them selves through direct production. Direct production is where a person satisfies his own needs by providing for him self and not depending on others to provide the good or service. Eg. Tribes, traditional Indians living off the land. Examples of these activities include hunting, fishing, gathering, skinning. Summary 2 (Formative) What is the traditional system?Give some examples of the traditional system in the world. What are some of the traditional economic activities. Presentation 3 The Market System What is a market? * An arra ngement where buyers and sellers are brought together to transact business. * A set of conditions that facilitates the exchange of goods and services or facilitates trade Market Economy * An economic system in which the open exchange of goods and services between producers and consumers takes place. * This is a hypothetical model, no country in the world that has an exclusive market economy. * There are countries where the private sector does have a controlling interest eg.USA, Brazil, Canada, Japan, Sweden. * Other names for market economy are – capitalist or free market or laissez-faire * The Factors of production are owned and put into operation by private individuals and organizations and not government * The producer sets up his business and determines production and profit targets based on available data. * The customer has the freedom to satisfy his wants and needs. * Customers would look for high quality and low priced goods, therefore manufactures who can provide thi s would prosper whereas those who cannot provide this may end up falling out of business due to a lack of profits. Advantages of the Market system Manufacturers can produce what the consumers demand and consumers can buy what they want * Decision making is not controlled so there is greater decision making about what to produce * The market economy is adaptable to changes in demand. * There is a large variety of goods and services to either produce or consume * Little government intervention or a lack of it * A greater degree of competition Disadvantages * Only the highest profit margin goods would be produced because the private sector is motivated by high profit margins * Consumers can be exploited if there is little competition ( monopoly) and very little government regulations for goods or services that are necessities. Eg water, electricity * It can lead to inequalities in the society as the rich get richer and the poor get poorer. oneEvaluation (Summative) See worksheet 1 in W orksheet Section. Lesson Notes Introduction/Set Induction Review of previous class, referring back to the story of the football teams and going over the features of the command economy and market economy. Objectives Students will: Cognitive Domain: 1 Describe the Command and Mixed economic system 2 Explain the advantages and disadvantages of the Command economic system 3 Explain the advantages and disadvantages of the Mixed economic system Psychomotor Domain 1 Write notes neatly in their books * Affective Domain 1Appreciate the significance of the various economic Systems Presentation 1 Command System Other names for the command economic system – planned economic system, directed economic system * An economic system where the government controls the factors of production * The government manages and distributes resources to the citizens. * The state decides the quantity and the type of products to produce Command system features * The state dictates the distribution of wealth * The production, price and distribution of goods and services, the employment or persons the dismissal of personnel, the payment for services rendered all rest with the state. * Eg of command economies – the Peoples Republic of China,Republic of Cuba, Democratic Peoples Republic of Korea (North Korea), Republic of Vietnam. Summary 1 – (Formative) What is the command system?Give some examples of the command system in the world. Name some features of the command system Presentation 2 Advantages of command system * Reduced wastage of resources due to State making decision about what to produce and directs resources into these areas * Profits gained from state industries may be used to generate further production and expand the provision of public goods and services. Eg hospitals , welfare programs, national security * Consideration may be given to providing better working conditions for state employees * No group of individuals can force prices up because the State sets the prices and pays salaries. * Income is more evenly distributed Workers may tend to increase their efficiency because they may feel they are working for their countries and for them selves * Government intervention is high to prevent unfair practices against consumers and imbalance against firms. Disadvantages * Wastage of manpower because a lot of people is required for central planning * Conflict may arise because what the state decides with regard to production or needs may not be what the people really want * Equal treatment of unequal may take place. Eg someone who is working more efficiently than another may be getting paid the same salary which is very de-motivating. * It stifles creativity due to the lack of incentives for initiative. Production is usually ahead of demand and this may lead to waste as once the consumers need is satisfied they may not purchase a good they think is of inferior quality or unattractive. Summary 2 (Formative) Name some of the Advantages and di sadvantages of the command economy Presentation 3 Mixed Economies Features * Both the government and the private sector participate in the decision making process about what to produce , how and for whom it is to be produced for. * Key services such as education, policing, health and roads and other infrastructure are provided by the government but private firms can also provide these services. * The state has productive activities through state owned corporations and nationalized industries * Private owned businesses compete with government owned business Advantages The state passes laws to protect against unfair trading practices * Both government and the private sector can cooperate in the delivery of certain services through franchising Disadvantages * Too much government regulation would dampen the free enterprise spirit * Some state owned industries are allowed to operate inefficiently resulting in wastage of resources * If the government intervenes and sets a maximum and mini mum price it may be difficult to regulate due to forces of demand and supply. Summary 3 * What are some of the features of the mixed system * What are the advantages and disadvantages of the mixed system Evaluation (Summative)See worksheet 2 in Worksheet Section. Principles of Accounts Lesson Notes Lesson Notes Introduction/Set Induction Talk about your phone and ask the question `how much would you pay for this phone`. Give them the cost price of the phone, how long ago it was bought, the features of the phone and how functional it is. ( how much scratches, falls it had for slight humour). Ask them why would they pay less for it and write the reasons they give on the board. These reasons would be categorised later on in the lesson. Objectives Students will: Cognitive Domain 1. Define Depreciation 2. List the causes of depreciation 3. Name the factors to be considered when calculating depreciationPsychomotor Domain 1. Calculate the Depreciation using straight line method 2. Calculat e Depreciation using reducing balance method Affective Domain 1. Appreciate the significance of depreciation for the use in accounting 2. Value the importance of using Straight line or Reducing balance method in accounting Presentation 1 What is depreciation The part of the original purchase price of the fixed asset consumed during its period of use by the firm. Ask what is a fixed asset Review fixed assets * Assets that are long life * Used in the business * Not used mainly for resale The amount that is deducted from the cost price. Depreciation is an expenseDepreciation is charged to the profit and loss account and would therefore reduce profit. Causes of Depreciation -Physical deterioration -Economic factors -Depletion Physical depreciation * Wear and tear * Erosion, rust, rot and decay Economic factors * Obsolescence -> comes from the word obsolete. The asset is no longer up to date and may not be used or be inefficient as compared to newer models * Inadequacy – > the ass et would be inadequate for the firms use. For example when a firm upgrades or expands it might not be efficient to use a small transport truck, it would be more efficient to use a larger transport truck or have a larger fleet of vehicles. The smaller vehicles would be sold to a smaller firm. DepletionOver the course of time a natural resource would be depleted or reduced from constant extraction. Eg natural gas, oil, mineral deposits. There are two methods used to calculate depreciation The straight line method Reducing balance method Summary 1 – (Formative) What is depreciation What are some of the causes of depreciation. What are the two methods of depreciation Presentation 2 Straight line method Called the fixed instalment method. You would have a cost price of the asset Might have a resale value of the asset Formula – cost price – resale value number of years of use eg a piece of machinery costs $50,000 it is estimated that it would be resold for 5000 at the end of 5 years.To calculate the depreciation using the straight line method 50000-5000 = 45000 = 7000 5 5 The depreciation would be $7000 per year for 5 years If the machinery had no resale value the calculation would be Cost price / years of use 50000/5 = $10,000 per year for 5 years The straight line method depreciates an asset for the same amount every year. Summary 2 (Formative) Calculate the depreciation on an asset costing 100000 for 5 years. The resale value is estimated at 10000. Use the straight line method to calculate the depreciation. Presentation 3 Reducing balance method Depreciates an asset by a reducing amount each year by a percentage. Also known as the diminishing balance method. EgCost price 20000 Depreciation (20%)20% of 20000 = 4000 Value of asset after one year = cost price – depreciation = 16000 Depreciation for second year = value of asset – depreciation Value of asset after first year = 16000 Depreciation (20%)= 20/100 * 16000 = 3200 Value of asset after second year = 16000-3200 = 12800 Value of asset for third year = current value of asset – depreciation Value of asset = 12800 Depreciation (20%) = . 2 * 12800 = 2560 Value of asset = 12800-2560 = 10240 Value of asset for forth year = current value of asset – depreciation Value of asset = 10240 Depreciation = . 2 * 10240 = 2048 Value of asset = 10240-2048 = 8192Value of asset for 5th year = current value of asset – depreciation Value of asset = 8192 Depreciation = . 2 * 8192 Value of asset = 8192- 1638. 4 = 6553. 60 Once an asset has been depreciated for its full life its book value and resale value should be equal. * Give this if they are getting it out quickly To calculate the depreciation per month you would have to calculate the depreciation per year and then divide that value by 12 to calculate the depreciation per month. Calculate the following Using reducing balance method and straight line method calculate the depreciation for 4 years on an as set costing 10000 and the depreciation is 40% per annum. Principles of Business Scheme of Work