5 top tracking apps for your 2018 goals

5 top following applications for your 2018 objectives The finish of 2017 is directly around the bend, and if you’re like a great many people your cerebrum is turning towards defining objectives for yourself for 2018. Likewise, you might be understanding that you’re going to set out on a recognizable cycle: setting a lot of great designs for yourself for the coming year that rapidly self-destruct, in some cases before you even get the chance to yell â€Å"Happy New Year!† If this seems like your commonplace finish of-year conduct, don’t feel really awful you’re not the only one! As indicated by an ongoing Huffington Post article, â€Å"Only 8 percent of peopleâ actually keep their New Year’s goals, as per one normally refered to measurement. There are numerous reasonsâ people can’t adhere to their goals, from setting such a large number of them to getting crashed by little disappointments. Setting excessively eager and prohibitive goals―like stopping sugar when you havenâ€℠¢t as of now been rolling out little improvements to improve your diet―is one significant reason for disappointment. While you may at first feel motivated and stimulated by defining victory objectives for 2017, the shine of these goals blurs immediately when we understand that they are so hard to keep.†That stated, defining objectives for 2018 may appear daunting―but there is a way towards progress and there are instruments for helping you remain on target. Nowadays, you don’t need anything over your cell phone and a supportive following application to keep you concentrated and on track as you progress in the direction of your goals.There are a huge amount of objective following applications accessible, and picking the correct one for you can turn into a major venture all by itself. Take a full breath-we’ve felt free to choose five of the most supportive objective following applications accessible to assist you with accomplishing your objectives in the new year.1. GoalsOnTrackBilling itself as â€Å"goal programming for high achievers,† GoalsOnTrack enables clients to make SMART-based objectives (Specific, Measurable, Attainable, Realistic, and Timely) and gives heaps of valuable highlights to assist clients with remaining on target like slowing down huge, long haul objectives into simpler to-oversee and sort out achievements and subgoals. GoalsOnTrack likewise permits you to set centered activity plans, repeating undertakings (with accommodating updates!), and errand plans that are anything but difficult to refresh and alter with you. It even has a journaling choice and adjustable music and photograph highlights to help keep you persuaded and envision success.2. Coach.meThis convenient propensity following application includes a free versatile form just as adjustable charge based choices, which even incorporates a genuine mentor to help save your objectives for 2018 close enough. When you set a propensity for yourself utilizing the application, you can start following your day by day progress, set accommodating targets and updates, see week after week and month to month conduct inclines, and even associate with a steady network for support and direction all intended to assist you with framing new and positive propensities in your life.3. StridesStrides is a free, an across the board objective and propensity following application that includes an assortment of accommodating following formats that you can utilize, or ones that you can alter. It has a large group of supportive visuals that are open from a focal dashboard, which gains it simple to see your ground (or deficiency in that department) and retool in like manner. Clients of the free application adaptation can follow up to 10 objectives one after another on any of their iOS-based gadgets; clients who require more noteworthy adaptability and force can exploit the charge based Strides Plus premium plan.4. Method of LifeWay of Life calls itsel f â€Å"The Ultimate Habit Builder and Breaker† and highlights a wide scope of supportive visual following highlights, including pie outlines, bar graphs with simple to-peruse pattern lines, and a scoreboard that gives moment input. It likewise permits you to tag, skip, offer, and chronicle objectives, set numerous every day updates, take notes, and fare to email and different applications. The free form lets you track up to three objectives, propensities, or practices that you need to increment or decline; charge based alternatives let you open extra highlights and resources.5. ATrackerIs your bustling life a day by day battle to complete everything and monitor everything? Provided that this is true, at that point ATracker might conceivably be the lifeline you need. This time-following application is intended to ensure that you’re expanding your time every day towards successfully seeking after your objectives. The application lets you track the time you spend on an a ssortment of picked undertakings and view every day breakdowns in pie diagrams or structured presentations so you can rapidly perceive how your waking hours are being spent and make modifications in like manner. There are free and expense based variants accessible, in light of your individual needs and goals.There you have it-the top following applications to assist you with defining your objectives for 2018 and remain on target. You should simply choose the one that appears to be best for you, and not let pardons impede you accomplishing your objectives.

Essay Writing Services - Tips For Finding the Best College Essay Writing Service

Essay Writing Services - Tips For Finding the Best College Essay Writing ServiceWhen you find yourself needing help with your college essay, then you know how difficult it can be to make a decision as to what writing service is the best to use. Before you take any action on your needs for assistance in writing your college essay, there are a few things that you should consider. Those considerations include the following:Does the company specialize in writing essays? - Many writers do not realize this, but some writing services will specialize in just one form of writing. This may be necessary because some students need additional assistance with written essays than others. This is a good thing, because if you are stuck on how to write an essay and have no idea how to get help, then this kind of service could prove useful.Does the writing services offer flexible deadlines? - One of the most important aspects to think about when choosing any writing services is their timeline for compl etion. If you can work with a company that offers flexible deadlines, then that is good news. However, many writers do not feel confident enough to attempt to write essays as soon as they want, so this is another consideration that needs to be made before signing up with a specific company.Are there terms included in the writing services? - The next thing to look at when you are trying to find out about any college essay writing services is their terms and services. A good writing service will have terms for which they will send students' work out and how they will proceed.Do they offer material that is diverse in scope? - It is a good idea to find out which companies offer different writing services so that you can choose the one that will meet your needs best. Some companies will focus on a certain area of writing and only offer specific kinds of essays for those students who need this specific type of help.What sort of work can they do? - As a student, you need to decide what typ e of work you will be able to handle. You will also need to ask whether the writing services can handle essays in your major or subject area, or if they will need to ask you what your needs are for the project.Does the company have an inexpensive price point? - It is important to be aware of how much each piece of writing will cost before you sign up for any writing services. Many companies will not be able to offer as much assistance as they would like, and this is another thing that should be taken into consideration before you make a decision about which company you will go with.When you find yourself in need of assistance with your college essay writing, you need to keep these factors in mind. Choosing a company will be very important in making sure that you are satisfied with the outcome of your essay, and that you are able to complete the assignment without having to worry about the task. There are a number of companies out there that can provide students with the assistance t hey need when it comes to writing essays, and you should take the time to find one that will meet your specific needs.

Corporate Tax Basics

Corporate Tax Basics Many people throughout history have uttered the saying ‘Nothing is certain but death and taxes’, with the first recorded attribution often given to Daniel Defoe. This fatalistic idiom is quite good in highlighting the inevitability of taxes and how it is crucial individuals and businesses know as much as possible about specific tax codes to secure their finances.For businesses, one of the most important taxes to understand is the corporate tax. This guide will help you understand the basics of corporate tax, as well as explain a bit about how the tax is imposed in different countries. © Shutterstock.com | Creativa ImagesIn this article, you will learn 1) what corporate tax is, 2) what is taxed under corporate tax, 3) whether there are tax deductions available for corporations, 4) filing tax returns, and 5) corporate tax in different countries.WHAT IS CORPORATE TAX?Corporate tax is a country specific tax, often known as either corporation tax or company tax. It is a levy placed on the income of the firm, with different rates often in place for different levels of income.You’ll often see a corporate tax imposed on the income or the capital of the corporation. This could, for example, be the profit the company makes after operating costs.As mentioned above, each country often sets its own corporate tax rates and the tax is generally imposed on corporations that do business in the country. The rates across the world can vary greatly.The definition of a corporationIn order to understand corporate tax, you’ll also need to understand the definition of corporation. I n general, corporation is a legal entity, which is separate from the owners. Corporations have rights and responsibilities, just like an individual does.Some of these rights and responsibilities include the right to create contracts, to borrow as well as loan money, to hire employees, to own assets and the legal right to be sued and to sue. Among these responsibilities is the necessity to pay tax.Corporations are set up by individuals and there are different types of corporations. While a corporation isn’t required to be a for-profit corporation, most corporations are set up with the aim of creating profit and returns for shareholders. The history of corporate tax developmentThe history of taxation is almost as old as the human society. Ancient civilisations used the basic principles of taxation thousands of years ago. In fact, the earliest known tax records date to six thousand years B.C., to the region of the modern day Iraq.Different societies used their own tax policies and di fferent systems began developing. Taxation also ended up causing trouble between different factions and later nations.When it comes to corporations, the income was typically taxed similar to income tax of individuals. People simply paid taxes on the money they made and businesses often had to pay tax on goods.As businesses and the law and regulations around them became more sophisticated, the focus on fine-tuning the way corporate income is taxed became a bigger issue. While each country has different corporate tax basics, many have used the similar model honed in the US and the UK.The US was known for its limited taxation, with the first federal income tax being enacted in 1861. After a long debate and changes in legislation, the Congress enacted an excise tax on corporations in 1909. The corporate tax, along with the rates, has been evolving ever since.In the UK, corporations were subject to income tax on the profits, similarly to individuals. It wasn’t until 1965 that the gover nment created the current Corporation Tax, which helped clarify how corporations pay tax and on what profits.WHAT IS TAXED UNDER CORPORATE TAX?Corporate tax is typically mainly imposed on income, but it is possible to tax other assets the corporation has in its use. In many instances, taxes are also imposed on property, as well as the existence of other similar assets and the equity structure of the corporation.What falls under the tax depends on local legislation and some differences may arise depending on the type of corporation in question.The following is a set of the most common parts of corporate tax.Corporate incomeAs said previously, income is the main proponent of corporate tax. Income is taxed at varying rates across the world, with the rate always being different to individual income tax. You can find some of the corporate income tax rates further down in the guide.In most countries, the corporate income is defined as all gross income. This means taking the sales of servi ce and goods and deducting the cost of production as well as any income that might be tax exempt under the law. The remaining amount is then taxed according to the tax rate.In a multinational world, corporations can have income coming in from different countries. How countries tackle this worldwide income is different for each country.In most instances, resident corporations, i.e. corporations that have their main residency in a specific country, are taxed on the worldwide income. A corporation that is non-resident will only have to pay corporate tax on the income they make in the country of operation. Again, there are country differences to this rule.DividendsCorporations typically end up paying part of their income and earnings back to shareholders. This distribution of earnings is known as paying dividends. Dividends are also taxable income, although they typically attract a lower rate for corporate income tax.It is important to note that dividends are not only paid to individual s, but can also be provided to corporations. Therefore, the dividends a corporation receive will be subject to tax.Other distribution of wealthCorporations might also distribute some of their wealth through other means. These could include different provisions of assets or the transfer of equity or capital to new assets on behalf of the person. These are typically taxed under other unique tax rules.Transfer pricingAlthough transfer pricing is not directly related to corporate tax, it has an effect on what amount the corporations might end up paying. Transfer pricing refers to the prices the corporations apply for the goods, services or the use of property.Therefore, it can relate to the total income the company makes both in domestic and international level. The tax authorities often set guidelines on transfer pricing to ensure the tax authorities are aware of changes companies might make.Other alternative tax basesSometimes countries also impose alternative tax computations on corp orations. These taxes are typically involved with the assets, capital payments and wages. These will have an alternative tax rate and function, depending on the country.Foreign branchesAs mentioned briefly above, corporations can be taxed on both the income they make in a specific country or based on global income. In most instances, domestic corporations are taxed differently to foreign corporations.While there isn’t any international law that would limit a country’s ability to tax residents, whether individuals or entities, there can be other limitations. In most cases, international and country specific treaties bring these about.Treaties are typically designed to do two functions. First, they protect a country’s right to tax a company doing business within its borders. Second, they protect a corporation from having to pay tax on their income twice, both in their original country as well the country where they do business.How corporations are taxed depends greatly on their setup. Branches and sister companies might be treated differently to foreign companies and so on.ARE THERE TAX DEDUCTIONS AVAILABLE FOR CORPORATIONS?Just like individuals are able to deduct certain payments from their income tax expenses, corporations also have tax deductions available for them. These vary from country to country, but most countries do offer some types of tax deductions.The tax deductions available for corporations often fall under three separate categories: tax exemptions, interest deductions and losses.Tax exemptionsTax exemptions are always non-taxable and won’t need to be claimed back, as they are removed from the income tax calculation at the point of filing.When it comes to corporate tax exemption, income and costs generated by certain transactions are often non-taxable. For instance, the formation of a corporation will in many countries be tax-exempt event. Furthermore, acquisitions and re-organisation of a business is typically a tax-exempt event.Interest deductionsCorporations might also be able to deduct certain interest payments from the tax. For example, corporations are generally able to deduct interest expenses generated by trading activities. Certain bank loans might also provide the option for interest payment deductions.There are often country-specific limits on interest deductions. Certain interest payments might be, for example, deductible if made to shareholders, while be subject to tax if paid to the corporation itself.LossesWhen a corporation makes a loss, many jurisdictions allow them to deduct part or all of these losses. This is unique to corporations, as individuals aren’t able to deduct losses from taxation.Losses available for deduction are also involved with machinery, equipment and other such corporate assets. In most instances, corporations aren’t able to deduct losses against a previous year’s income. Many countries also have strict time limitations as to when losses can be deducted.FILING TAX RETURNSMos t countries use a similar system for collecting taxes. The system requires individuals and corporations to file their tax returns and make the payments according to the rules set by the tax authorities.Typical filing systemsMost often, the system requires corporations to file an annual corporate tax return. There are two different ways the return might be filed:Through a self-assessment method, where the corporation sends its own tax assessment to the tax authorities.By returning the tax administration pre-filed form, where the authority has calculated the tax based on some pre-filed information and the corporation has to make sure the information is correct.In many systems, the tax returns must be somehow certified. This often means using an authorised accountant and in the case of big corporations, the company’s own auditors.The difficulty of the filing system depends quite a bit on the country’s legislation. Some tax return systems are straightforward, while others can be ext remely complex. The complexity can also depend on the nature of the business.Furthermore, the technological revolution has changed the way corporations, as well as individuals, need to file their taxes. Most countries are slowly moving to technology-based filing, where the majority of the return forms can be filed online.For many countries, the system still operates both electronic and paper return systems. Corporations are often able to choose between the two, although electronic forms are becoming increasingly common.Different taxation periodsCorporate tax is generally paid on an annual basis. Some of the other taxes imposed on corporations can sometimes be paid quarterly or even monthly. The taxation periods depend on the country’s legislation and in some instances on the size of the corporation.Furthermore, it is good to note that tax year is not the same as a calendar year. This said, some countries might apply calendar year as the tax year, but exemptions are more often the case. For example, in the UK the tax year runs from April to April.The taxes are often paid in retrospect and not in advance.Who needs to file?As mentioned above, corporate tax return often requires some sort of official certification. In many instances, this can mean that an account will go through the corporate tax return before sending it to the authorities.The right procedure, as well as the right tax payments, depends on the structure of the corporation as well as the type of corporation in question.CORPORATE TAX IN DIFFERENT COUNTRIESThe guide should have made it clear that the final, detailed structure of corporate tax depends on the specific country in question. As an example of corporate tax and the differences between countries, here is a short introduction to some of the systems in use in the bigger countries.The USCorporations in the US is taxed at the same rate depending on the type of income the corporation makes. But different rates might be applied based on the incom e level of the corporation and the size of the corporation. There are also some federal differences in some states.The US system is quite a complex one and the filing requires several forms, both for the basic tax return as well as any possible exemptions.When it comes to foreign and domestic companies, the US taxes resident corporations based on worldwide income. Non-resident corporations must only pay income tax to the US, based on the income generated in the country.The UKThe UK corporate tax shares many similarities with the US, although there is only one rate used in the UK. Like the US, the UK applies corporate tax on worldwide income for corporations that are based in the UK. If the corporation has a branch in the country, they are only subject to pay tax on the income they generate in the UK.Corporate tax in the UK is calculated on what the company makes from:Doing businessInvestmentsSelling assets for profitChinaChina’s tax system can seem quite different and it’s hard to navigate through as a foreign business. Nonetheless, in its most basic, the corporate tax system treats domestic and foreign companies in a similar manner to the UK and the US.Interestingly in China, the payments are made quarterly and based on estimation payments. Furthermore, the corporation will then file their annual tax return. If they have made excess payments during the year, they can use them to offset the annual instalments.Corporate tax havensIt is all worth to mention that some countries in the world do not impose any corporate tax on any type of income. These so-called ‘tax havens’ often have many multinational companies place their residence in the country in order to avoid or pay lower taxes.Some of the countries with no corporate tax include:BahamasBahrainBermudaCayman IslandsGuernseyIsle of ManCorporate tax rate examples from around the worldFinally, here are some of the current corporate tax rates in different countries around the world. The rates are provide d by KPMG, the international services company specialised in taxation.Argentina35Australia30Brazil34Canada26.5Cayman Islands0China25France33.33Germany29.65Hong Kong SAR16.5India34.61Israel26.5Japan33.06Macau12Malaysia25Mexico30New Zealand28Russia20Saudi Arabia20Turkey20United Kingdom20United States40Although there are some countries that impose no corporate tax, the global average rate falls to around 23.68%. The highest regional average is in North America, with 33.25%, and the lowest in Europe, with 20.24%.CONCLUSIONCorporate tax has evolved over time and in a way has become more complex. The basic principles are generally the same around the world, but the finer details and the ways corporations must file and pay taxes can change a lot from one country to another.International tax treaties have removed some issues over corporate taxation, but different country rates have resulted in companies planning carefully where they set up. Tax planning is important for companies who want t o make sure they aren’t financially worse off and understanding corporate tax basics is an essential tool in making sure a business succeeds.

A Brief Timeline of Events in America - 1851-1860

The time between 1851 and 1860 was one of great upheaval in United States history.   1851   The Treaty of Traverse des Sioux is signed with the Sioux Indians. They agree to give up their lands in Iowa and almost all of Minnesota.  The New York Daily Times appears. This will be renamed the New York Times in 1857.  A fire occurs at the Library of Congress, destroying 35,000 books.  Moby Dick is published by Herman Melville.   1852   Uncle Toms Cabin, or Life Among the Lowly is published to great success by Harriet Beecher Stowe.  Uncle Sam appears for the first time in a comic publication in New York.  Franklin Pierce wins the presidency.  The Know Nothing Party is created as a Nativist party opposed to Catholics and immigrants.   1853 The Coinage Act of 1853 is passed by Congress, reducing the amount of silver in coins smaller than a dollar.  Vice President William King dies on April 18th. President Pierce does not appoint a new Vice President for the rest of his time in office.  Mexico gives land along the southern border of present-day Arizona and New Mexico in exchange for $15 million.   1854 The Kansas-Nebraska Act is proposed that would separate the central Kansas Territory into two with the idea that the individuals in the territories would decide for themselves whether they would be free or slave. However, this was opposed to the Missouri Compromise of 1820 because they were both above latitude 36 °30. The act is later passed on May 26th. Eventually this area would be called Bleeding Kansas due to the fighting that would occur over the question of whether the area would be slave or free. In October, Abraham Lincoln gives a speech condemning the act.  The Republican Party is formed by anti-slavery individuals who oppose the Kansas-Nebraska Act.  Commodore Mathew Perry and the Japanese sign the Treaty of Kanagawa opening ports up to trade with the US.  The Ostend Manifesto is created declaring the US right to purchase Cuba or take it by force if Spain does not agree to sell it. When it is published in 1855, it meets with negative public reaction.Walden is publis hed by transcendentalist Henry David Thoreau.   1855 Over the course of the year, a virtual civil war happens in Kansas between pro- and anti-slavery forces.  Frederick Douglass publishes his autobiography entitled My Bondage, My Freedom.  Walt Whitman publishes Leaves of Grass.   1856 Charles Sumner is beaten with a cane by Preston Brooks on the floor of the Senate for an anti-slavery speech. He does not recover fully for three years.  Lawrence, Kansas is the center of violence in Kansas when pro-slavery men kill an anti-slavery settler. Anti-slavery men led by John Brown then retaliate killing five pro-slavery men leading to the name Bleeding Kansas.  James Buchanan is elected as president of the United States.   1857 A pro-slavery legislature in Kansas passes the Lecompton Resolution which an election of delegates to a Constitutional Convention. Buchanan supports the eventual Convention even though it favors pro-slavery forces. It is later approved and then rejected. It becomes a point of contention with the president and Congress. It is finally sent back to Kansas for a popular vote in 1858. However, they choose to reject it. Therefore, Kansas will not be admitted as a state until 1860.  The Supreme Court decides in that slaves are property and that Congress has no right to deprive citizens of their property.  The Panic of 1857 begins. It will last two years and the failure of thousands of businesses.   1858 Minnesota becomes the 32nd state to the enter the Union. It is a free state.  Abraham Lincoln and Stephen Douglas meet in seven debates across Illinois where they discuss slavery and sectionalism. Douglas will win the election, but Lincoln becomes a key figure in national politics.   1859 Oregon joins the Union as a free state.  Silver is discovered in Nevada leads more people out west to make their fortune.  The first American oil well is created when Edwin Drake finds oil in Pennsylvania.  John Brown leads a raid at Harpers Ferry to seize the federal arsenal. He is a devoted abolitionist who wishes to create a territory for fugitive slaves. However, he is captured by a force led by Robert E. Lee. He is found guilty of treason and hanged in Charlestown, Virginia.   1860 The Pony Express begins between St. Joseph, Missouri and Sacramento, California.  Abraham Lincoln wins the presidency after a hard fought campaign centering on the issues of sectionalism and slavery.  South Carolina decides to secede from the Union. The state militia takes over the Federal arsenal at Charleston.

The Base Of Ethical Analysis Of Alcoholism - 1012 Words

Student Name: Turki Alhabashi Professor Name: Elizabeth Petersen Course: ENG 102 Thesis: I have done this task on the base of ethical analysis of alcoholism. Here I have applied Aristotle’s virtue ethics to social-psychological interpretation of one kind of alcoholism. I did it in order to enhance our understanding of the phenomenon of alcoholism and to illustrate the pertinence of Aristotle’s ethics. My finding can further explains understanding of contemporary problems such as alcoholism. After lot of research I have found that alcoholism is not a non-controversial medical debases. I found that social responsibility involves for developing alcoholism and it cannot mitigate. My thesis further explains that it would be the first choice of the person when he/she disappears. Every individual responsible for alcohol consumption. As a human being we must prevent the person to consume alcohol. Drugged high on Alcohol Here I have explored several aspects of the ethics and responsibility of government and the industry of Alcohol from the documentary available on YouTube name â€Å"Drugged high on Alcohol†. This will begin to focus on the underlying ethical theory, initially through reflection on the perspective of public policy. It will first examine the 2007 report by the Nuffield Centre for Bioethics on Public Health Policy. It will then argue for a broader approach that focuses the ethical debate on social responsibility and the theme of shared responsibility. ThroughShow MoreRelatedEpidemiology: Study Notes1775 Words   |  7 Pagesï » ¿ Part 1 Cofounding Factors Cofounding factors are extraneous variables that correlate either positively or negatively with both eh dependent and independent variable within a study. Any research method and analysis must account for these variables through the actual design of the study or through statistical means that accounts for them. 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Personality at Selection Interview Free Essays

string(57) " tests to measure personality are growing in popularity\." Assignment – Personality Personality can be defined as those relatively stable enduring aspects of an individual that distinguish him/her from other people and at the same time form a basis for our predictions concerning his/her future behaviour. (Wright et al cited in Rollinson 2005) This definition represents the view that it is possible to identify an individuals stable and unchanging personality and characteristics, and that if the characteristics are identified they can be used to predict the persons future behaviour. Organisations differ greatly in their cultures and acceptable behaviours which means that some individuals naturally fit in better than others. We will write a custom essay sample on Personality at Selection Interview or any similar topic only for you Order Now (Rollinson 2005:85) Job roles themselves also differ in terms of the suitability of an individual’s personality in being successful in that job role. Therefore in determining the importance of personality at selection interview we need to determine what both the role and the organisation require. (Rollinson 2005:85) In the work environment the â€Å"fit† of a person has to be right in terms of skills and experience as well as values and needs. Holbeche: 2002). Person-organisation fit refers to the extent to which individuals and organisations share similar characteristics (personalities) or meet each others needs. The assessment of personality is carried out to determine desirable or un-desirable traits of candidates to assess their suitability for a role and/or organisation (Arthur:2005) Getting this right can lead to job satisfaction and organisational commitment. (Kristoff:2000) When an employer is recruiting the psychological contract has some importance. The psychological contract implies a series of mutual expectations and satisfaction needs arising from the P-O relationship (Mullins:2010) P-O fit is likely to be more important than P-J fit in satisfying the psychological contract (Morley:2007) in that employees will be required to adapt to changes in tasks and gain new skills. It is argued that greater emphasis should be placed on the P-O fit as opposed to the more traditional method of P-J fit because firstly individuals will hold several roles within an organisation therefore their P-O is more important than the possibly less lexible P-J fit, they will hold the organisations values and culture closer and will have longer service therefore lowering recruitment costs. (Ree and Earles 1992) Secondly the changing nature of work requires individuals to be better at teamwork and more flexible. I believe that when recruiting graduates P-O fit is more important as opposed to P-J fit. Graduates are recruited to provide organisations with a potential pool of future managers and enhance succession possibilities. Morley:2007) Graduates have little experience in the work environment so are less able to translate their skills, qualifications and experience into the working world. If an employer has a clear understanding of their organisations culture, personalities of other employees and can accurately determine the personalities and beliefs of the graduate they can base their decision on the graduates enthusiasm, motivation and eagerness to work rather than skills, qualifications and experience. In a study by Wheeler et al (cited in Rollinson 2005) it was found that job satisfaction could be increased by increasing P-O fit, that is recruiting employees with similar values to the organisation. However, Wheeler also found that even though an ill-fitting individual resulted in job dissatisfaction, they would not leave the organisation unless suitable alternative work presented itself. This could lead to them being de-motivated, having poor performance and impact on relationships with colleagues. This shows the importance of getting personality right at selection interview. Person-job (P-J) fit refers to the correlation between the individual’s skills, qualifications and experience with the requirements of a job. (Edwards:1991) and is a traditional method of employee selection (Werbell and Gilliland:1999) P-J fit is most widely determined through proof of an individuals skills, qualifications and experience through certificates and references and questioning around their knowledge on a topic. I have personally heard colleagues question the importance of personality on some roles such as accountants which would initially strike you as being weighted heavily on their skills, experience and qualifications however how well would an accountant perform if they did not have the personality traits to communicate effectively with colleagues and customers? Differing roles do also require different personalities in order to be successful irrespective of the organisation. Receptionists, sales person or customer service representative require the ability to cope with stress and deal with individuals with differing priorities. Gatewood et al:2005) In considering the importance of personality in selection interview it would be sensible to consider how stable and unchanging a person’s personality is. Are we seeing a current snapshot of the individuals personality or will it change overtime? Rollinson (2005) writes that if personality is an ongoing developing process it would be al most impossible to develop valid ways to measure it and would be pointless in attempting to predict future behaviour. Idiographic, one of the two major theories on personality, focuses on personality developing and changing as a result of ongoing experiences. However, Costa and McCrae (1992) wrote that personality is relatively stable after the age of 30 therefore using personality in making selection decisions would be possible due to the stability of personality. Looking at Nomotheic theory, the other of the two major theories of personality, which assumes personality is stable and un-changing, it was noted that there are 5 distinct differences between people known as the Big Five and often referred to as OCEAN. These are: †¢ Openness (perceptive, sophisticated, knowledgeable, cultured, artistic, curious, analytical, liberal traits) †¢ Conscientiousness (practical, cautious, serious, reliable, organised, careful, dependable, hard-working, ambitious traits) †¢ Extraversion (sociable, talkative, active, spontaneous, adventurous, person-orientated, assertive traits) †¢ Agreeableness (warm, trustful, courteous, agreeable, cooperative traits) †¢ Neuroticism (emotional, anxious, depressive, self-conscious, worrying traits) The Big Five can be split into type theory and trait theory. Mullins cites Hans Eyesneck work in which he identified four main personality types. These are stable extraverts,(talkative, responsive, easygoing, lively carefree) unstable extraverts,(impulsive, changeable, excitable, restless) stable introverts (calm, even-tempered, peaceful, thoughtful) and unstable introverts. (anxious, moody, reserved, pessimistic) Mullins writes that if managers can predict future behaviours through an individual’s personality type then it is not surprising that psychometric tests to measure personality are growing in popularity. You read "Personality at Selection Interview" in category "Papers" Trait theory is then broken down again into surface traits (those which are observable) and source traits (which can only be inferred) In theory surface traits could be observed through assessment centres. Mullins writes that the Big Five form the basis of standard personality questionnaires and of these five conscientiousness has the highest link with high levels of job knowledge and performance across a range of occupations. So, according to this, it would be beneficial to an organisation to determine candidate’s personality in order to recruit an individual who has a good score in conscientiousness. However, Maltby et al (2010) writes that if we were to employ the conscientious person with their practical, cautious, serious, reliable, organized, careful, dependable, hard-working and ambitious traits, would they be suitable for a role requiring innovation and creativity and are they flexible and adaptable to cope with the rapidly changing world of work? He questions the applicability of conscientiousness across all job roles. In considering the impact of personality on our relationship at work with colleagues I believe that emotional intelligence has a strong link with aligning personality with successful performance and relationships at work. Emotional Intelligence is defined as a person’s ability to manage themselves as well as their relationship with others so that they can live their intentions (Adele:2008:7) and can be broken down into five specific areas. These are Self awareness, empathy, social expertness, personal influence and mastery of purpose and vision. Each of these areas could have an impact on our relationships with colleagues. Self awareness is an understanding of how our behaviours or words affect others. If we have self awareness we are able to apply self control to change our actions should they be having a negative effect on colleagues. A self aware individual would know when their mood is impacting on others and alter it accordingly. Self awareness is an area looked for in the emotional intelligence of sales people and interview questioning based around the impact of previous experience of their positive and negative impacts on co-workers would be useful in identifying this area. (Adele 2008:17) Empathy is an understanding of others feelings and perspective and the ability to experience what someone else is feeling therefore giving a better understanding of our colleagues. It is the ability to respectfully listen rather than listening to refute or build our own case. A customer service representative who empathises with an irate customer rather than just demanding their account number will better diffuse a volatile situation. (Adele 2008:54) Marshall Goldsmith (â€Å"The world authority in helping successful leaders get even better†) described not listening as the most passive-aggressive form of disrespect shown to colleagues. Social expertness is the building of social bonds which allow us to work with others, share thoughts and ideas, build trust and resolve conflict. The reason that top executives fail is because of their failure to build interpersonal relationships rather than their technical competence. Personal influence is our ability to influence other towards goals or missions and to influence ourselves in taking initiative and displaying confidence. A recruiting manager would be looking for signs at interview that a candidate can prove they have got people to previously follow them irrespective of their differing levels. Mastery of purpose and vision is our ability to understand what our purpose is and therefore determine what types of emotions help us to live our life purpose. It allows us to manage our emotions and relationships. This is also the determining factor as to whether the organization and role is â€Å"fit† for us. Interview questions based around a candidate’s worst and ideal job as well as what inspires and bores them at work can help identify the â€Å"fit† of an individual’s personal purpose to an organization. (Adele:2008:131) Candidates demonstrating emotional intelligence at interview take responsibility for their actions rather than blaming others or playing the victim. (Adele:2008:146) Studies carried out by Grimsley and Jarrett (cited in Adele:2008) concluded that managers displaying higher emotional intelligence were more successful. Anderson and Shackleton (1993) carried out a study on the comparison of the strength of different variables in predicting eventual job performance at the point of selection. Their findings show that personality assessments have a 0. 38 correlation, intelligence a 0. 54 correlation, and structured interview 0. 62. Previous experience and the CV came in lower than all these at 0. 18 and 0. 37 respectively. (0. 1 being small, 0. 3 being medium and 0. 5 being large correlation) Showing in this study that personality assessment has an important role in predicting job performance, above that of the CV and previous experience. Maltby et al 2010) When putting the theory of personality into practice within the work environment, organisations must be clear on why they are assessing personality and what personality characteristics they are they are looking for. (Torrington et al:2011) A clear job description and person specification which requires skills, qualifications, experience and personal ity traits relevant to the job role is key, according to the CIPD, in creating a fair selection process. Should an applicant who is unsuccessful in being selected for interview threaten or indeed commence tribunal proceedings, the organization has a clear framework on how selection for interview and employment was made. Torrington et al also write that a method of defining the person specification is to focus on the characteristics or competences of individuals who have previously performed best in the role. This has positives in that these characteristics are producing individuals who perform well for the business however this method could produce employees who are very similar to one another and address problems with the same mindset. Personality questionnaires are based on the Nomotheic theory that personality is stable and unchanging. The most recognized personality questionnaire is the Myers Biggs Type Indicator (MBTI) based on the theories of Carl Jung. The questionnaire is developed on the understanding that it is of benefit to people to recognise their individual personality types, and how these differ from those of other individuals. The MBTI is an untimed questionnaire which asks respondents to choose between two opposing courses of action, or two words, depending on what they feel is closest to their natural preference. The MBTI measures 4 preferences Extraversion or Introversion, Sensing or Intuition, Thinking or Feeling and Judging or Perceiving. People’s four preferences classify them into one of 16 types. Descriptions are given of the characteristics of people of each of the 16 types. Each type is described as having positive qualities and strengths, as well as possible development needs. The questionnaire receives 4 stars from the Psychological testing centre. (The British Psychological Society:2011) An employer using MBTI can use the information given on the individual’s type to further question them at selection interview. Toplis et al (1997) have concerns that the lack of involvement of psychologists in marketing and selling personality testing packages results in too many tests being released for general use without the required intellectual support. He is also troubled by the increasing use of computer-based tests, particularly to score and interpret results, believing that the accuracy of some systems is not particularly high. Personality assessment is based on the belief that certain roles require particular personality and that tests can identify them. The use of ability tests and competence based interviewing as opposed to personality tests are more easily defendable in an employment tribunal due to the tangible results being right or wrong whereas with personality tests there are no right or wrong answers and are not as easily defendable should the need arise. There are questions over their validity in so much as practitioners can be trained with a basic knowledge of administering tests and interpreting their results. The British Psychology Society give an overall rating for validity and objectivity of tests. There is the argument that candidates may be able to manipulate their results to perform in a way they believe the employer requires. (Furnham:1990) therefore invalidating the results and potentially basing a recruitment decision on in-accurate information. In my experience this is where the face to face interview is of vale in verifying and questioning further the results of any personality testing. i. e. Do the results of the personality testing match the behaviours and characteristics of the person sat in front of me? Recruiters may be influenced by striking characteristics or similarities to themselves called the Halo Effect. The Halo Effect can be defined as a cognitive bias whereby the perception of one trait (i. e. a characteristic of a person or object) is influenced by the perception of another trait (or several traits) of that person or object. (Mullins 2011) An example would be judging a good-looking person as more intelligent. The Halo Effect can have a positive or negative effect. For example, someone who attended the same college or university as the recruiter could be at an advantage but someone who attended a college or university the interviewer perceives to have a poor reputation could put the candidate at a dis-advantage. Solomon Asch (1945) carried out a study that discovered that the presence of one trait often implies the existence of other additional traits and that certain traits can be characterized as central traits. For example, an individual described as warm is perceived to have positive traits such as happy and generous. An individual described as the cold would have the opposite perceived traits. Another example is when individuals believe that a happy person is also friendly or that quiet people are timid. On the other hand, people who are irritable may be seen as in disarray in their daily life. Therefore, people assume other individuals’ personalities are in doubt using little information. It is often the case that people judge more favourably those individuals with whom they have something in common. An experiment carried out at the Penn State College of Medicine asked 35 interviewers and 135 interviewees to complete the MBTI. The results were not shared prior to face to face interview. The experiment concluded that there was a significant association between similarities in personality type and the rankings that individual interviewers assigned to each interviewee. In this circumstance it is important to be mindful of the effect an individuals personality may have on the outcome of the interview. Employing more than one selection tool does not eradicate the possibility of recruiting an unsuitable candidates. The use of personality data in the selection process, when gathered appropriately, can be valid information in making a contribution to the selection decision however it should not be used in isolation. Personality tests results can be used at interview for the basis of further investigation into applicant abilities. Skills, experience and qualifications are important criterion. Dependent on the role and organisation for which selection is being made will determine the weighting placed on each. If using any form of testing in the selection process employers need to pre-determine the worth of testing and weigh up the benefits, such as increased productivity, with the cost including purchasing a reliable and validated resource and training recruiting managers to correctly interpret reports. There is, therefore, in my opinion an importance to be placed on personality at selection interview which for me slightly outweighs the importance of skills, qualifications and experience especially when considering the knock on effect that a mismatch of person-job or person-organisation could have on the relationship with colleagues. An organization needs to be clear in what personality traits they are looking for before even advertising a role as the wording of an advertisement could attract and alienate certain personalities. Once at selection interview, managers should consider how they are fairly going to assess personality if using their own judgment. Do they have a fail safe scoring system to measure personality against that cannot back-fire in the event of an employment tribunal? Thought should also be given to how a candidate has completed any personality test i. e. to what extent have they thought about themselves in the work situation when completing it? Are they naturally nervous when asked to complete any test and therefore put at a dis-advantage? If personality is un-stable and changes over time, would it be wise to re-test individuals? Organisations are fluid and changing constantly. Teams, managers and individuals change. , What was once a good â€Å"fit† may not be in the future. References Adele, B (2008) The EQ Interview. AMACOM Books Anderson, N. D. Shackleton, V. J (1993) Successful selection interviewing. Blackwell Publishing Arthur, D. (2005) Recruiting, Interviewing, Selecting and Orienting New Employees. 4th ed. New York AMACOM Page 368 British Psychological Society (2011) found at http://www. psychtesting. org. uk/test-registration-and-test-reviews/test-reviews. cfm? page=summary=82 CIPD (2011) Selection Factsheet (online) available from http://www. cipd. co. uk/hr-resources/factsheets/selection-methods. aspx Costa, P. T, McCrae, R. R (1992) Four ways five factors are basic. Personality and Individual Differences, Vol. 13, No. 6. (June 1992), pp. 653-665 Edenborough, R. (2005) Assessment methods in recruitment, selection and performance a manager’s guide to psychometric testing, interviews and assessment centres. London: Kogan Page. Page 2 Edwards, J. R. (1991). Person-job fit: A conceptual integration, literature review, and methodological critique. In C. L. Cooper I. T. Robertson (Eds. ), International review of industrial and organizational psychology (vol. 6, pp. 283-357). New York: Wiley. Furnham, A (1990) Can people accurately estimate their own personality test scores? European Journal of Personality, no 4, pp. 319-327 Gatewood, RD. Field, HS. Human Resource Selection 5th ed. Mike Roche. Page 601-603 Holbeche, L. (2002) Aligning Human Resources and Business Strategy. 2nd ed. Butterworth Heinemann. IRS Employment Survey July 2010 – accessed through employer login at www. xperthr. co. uk Kelly, G. A. (1955). The psychology of personal constructs (Vols. 1 and 2). New York: Norton. Kristof-Brown, AL. (2000) Perceived applicant fit: Distinguishing between recruiters’ perceptions of person-job fit and person organization fit. In Personnel Psychology, 53 (4), 643-671 Maltby, J. Day,L . Macaskill, A. (2010) Personality, Individual Differences And Intelligence. 9th ed. Prentice Hall. Michael J. Morley, (2007) â€Å"Person-organization fit†, Journal of Managerial Psychology, Vol. 22 Iss: 2, pp. 109 – 117. Emerald Group Publishing Ltd. Mullins, LJ. (2011) Management and Organisational Behaviour. th ed. Financial Times: Prentice Hall. Page 134 – 162, 240 Rees, MJ. Earles JA (1992) Intelligence is the best predictor of job performance. Psychological Science, 1, 86-89. Rollinson, D. (2005) Organisational Behaviour and Analysis: An integrated approach 3rd Ed. Prentice Hall Asch, S. E. Studies in the principles of judgments and attitudes: II. Determination of judgments by g roup and by ego standards. /. soc. Psychol. , 1940, 12, 433—465. Thorndike, E. L. (1920). A constant error on psychological rating. Journal of Applied Psychology, IV, 25-29 Toplis, J. Dulewicz, V. Fletcher, C (2004) Psychological testing: a managers guide. 4th Ed. Chartered Institute of Personnel and Development. Torrington, D. Taylor, S. Hall, L. Atkinson, C (2011) Human Resources Management. 8th ed. Financial Times Prentice Hall Werbel, J and Gilliland, S. W (1999). Person-environment fit in the selection process. In G. R. Ferris (Ed. ) Research in Personnel and Human Resources Management, 17, 209-243 Wheeler, A. Gallagher, V. Brouer, R, Sablynski, C. †When person-organisation (mis) fit and (dis) satisfaction lead to turnover. In Person Organisation Fit 2nd ed. By Morley, M. London: Emerald, Page 203. How to cite Personality at Selection Interview, Papers

Microfinance in Philippines free essay sample

This Asia Focus report reviews the growth of the Philippines microfinance industry and discusses the mplications of commercial banks entering this market. What is Microfinance? The Philippines central bank, Bangko Sentral ng Pilipinas (BSP), defines microfinance as the provision of a broad range of financial services such as deposits, loans, payment services, money transfers and insurance products to the poor and low-income households and their microenterprises. The financial service most commonly provided is microcredit, which is typically issued in the form of a specific business loan for microenterprise purposes. A key defining characteristic of a microfinance loan is the ability to secure credit without collateral. In the Philippines, microfinance loans cannot exceed PhP 150,000 Microfinance providers in the Philippines often employ a group lending approach, whereby each person within a small group is liable for any default by another group member. Other group lending- based methodologies being used in the Philippines include the ASA model, whereby each group member is responsible only for his or her own loan, and the Alliance of Philippine Partners in Enterprise Development (APPEND) Scale-Up Branch Model, which is based on the Trust Bank model. We will write a custom essay sample on Microfinance in Philippines or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page ii,iv Development of Microfinance in the Philippines The Philippines microfinance sector is credited as one of the oldest and most active in the world. v While the roots of microfinance activity date back to the early 1900s through cooperatives, microfinance, as described today, surfaced in the 1980s and was codified into national law in 1997 with the signing of the Social Reform and Poverty Alleviation Act (RA 8425), and the establishment of both the National Anti-Poverty Commission and the National Strategy for Microfinance. With approximately 33% of the countrys 92 million population considered to be living below the poverty threshold, poverty alleviation is ne of the governments top priorities and microfinance is a primary tool to address this issue. vi The ultimate goal of the governments National Strategy for Microfinance is to create a sustainable private microfinance market, where the private sector limited to providing an environment which enables the market to thrive. The General Banking Law of 2000, which mandated the recognition of microfinance as a legitimate banking activity, is one of the primary catalysts for accelerated growth and commercialization of microfinance over the last several years. The law empowered he BSP to create measures recognizing microfinance providers as banking institutions and to provide regulatory guidelines specific to the microfinance portfolios for institutions falling under the BSPs purview. Furthermore, banks engaging in microfinance activities were given certain allowances and relieved of certain restrictions; for example, they were granted exemption from a moratorium on branch licensing. Today, the BSP defines its commitment to the development of microfinance in the Philippines in three specific ways: i) providing an enabling policy and regulatory environment, it) increasing the capacity of the BSP and banking sector ith respect to microfinance operations, and iii) promoting and advocating the development of sound and sustainable microfinance operations. ii Historically, the provision of retail microfinance services in the Philippines was achieved through rural and thrift banking organizations, as well as NGOs and finance cooperatives. Government financing programs also participated in the retail market. The BSP reports Asia Focus is a periodic newsletter issued by the Country Analysis Unit of the Federal Reserve Bank of San Francisco. The information contained in thi s newsletter is meant o provide useful context and insight into current economic and financial sector developments in the Asia Pacific region. The views expressed in this publication are solely that of the author and do not necessarily represent the position of the Federal Reserve System. that government financing programs are transitioning away from direct retail business activities and toward providing wholesale funding for private microfinance institutions. Transitioning away from direct retail microfinance activity brings the government closer to achieving the ultimate goal of having a limited role in the icrofinance market, as outlined in the National Strategy for Microfinance. Meanwhile, the private banking sector is playing an increasing role in the provision of microloans. Microfinance activity across the Philippines banking sector, as measured by the size of microloan portfolios at thrift, rural and cooperative banks, nearly doubled between 2005 and 2008 alone (see Chart 1). During the same time period, the number of microfinance borrowers grew by 40%. PhP Millions 7,000 6,000 5,000 4,000 3,000 2,000 1,000 2005 20062007 2008 Total Rural Banks Microloan portfolio Total Thrift Banks Microloan Portfolio All data is as of June 30 Total Cooperative Banks Microloan Portfolio Source: BSP The Changing Role of Commercial Banks in Microfinance Traditionally, commercial banks role in the Philippines microfinance market has been exclusively through wholesale lending, by providing funds to microfinance institutions which then re-lend the funds in the form of microcredit, and the provision of general financial services to challenging operating environment due to the global financial and economic crisis, commercial banks are seeking new viable revenue options. As a result, some commercial banks recently have entered into the retail microfinance market. For example, Rizal Commercial Banking Corporation, the nations seventh largest lender, acquired JP Laurel Rural Bank in February 2009 and issued its first microfinance loan in July through JP Laurel Rural Banks branches. x This marked the first microfinance retail operation by a large commercial bank in the Philippines. Since then, Asia United Bank, ranked twentieth by asset size, acquired Rural Bank of Angeles to take advantage of its microfinance network. i In addition, Bank of the Philippine Islands, he nations third largest lender and the first privately owned commercial bank to engage in wholesale microfinance lending, was granted permission to launch the countrys first mobile microfinance bank. xii Demand for microfinance loans is expected to increase considerably over the next year as a key part of the rebuilding of Metro Manila, which was severely damaged by typhoon Ketsana in Septem ber 2009. Further demand is anticipated from displaced overseas Filipino workers, as a result of the global crisis, as these workers and their families turn to microenterprise business activities as a means to supplement family income. These increases in demand for microfinance loans, coupled with the reduced supply of microfinance providers resulting from the high rural bank closures in the last 18 months,xiii provide additional incentive for commercial banks, as well as other players, to enter the retail microfinance sector. Risks and Benefits Associated with the Retail Microfinance Market As commercial banks begin to venture into retail microfinance, they face a range of challenges that are specific to the microfinance market. Microfinance is highly specialized. It requires the loan officers to have significantly ore personal knowledge of the microclient than is usually required for a client of a traditional loan. It also calls for knowledge of the intrica- Chart 1: Microfinance Activity in Philippines Banking Sector In fact, a recent study by the Economist Intelligence Unit (EIIJ) assessing the microfinance environment within countriesviii ranked the Philippines first in Asia and third overall on its microfinance index, after Peru and Bolivia. The Ell-J microfinance index categorized its indicators into three main groups: i) regulatory framework, it) investment climate, and iii) institutional development. Ell-J awarded the Philippines a perfect score for its regulation of microfinance activities at financial institutions, adding that the government has promoted a regulatory environment conducive to microfinance operations. ix While the Philippines also received a perfect score for the legal environment surrounding the formation and operation of specialized microfinance institutions, the Ell-J study highlighted a need to increase the diversity of microfinance products and services available to customers. Until recently, the microfinance industry in the Philippines has been primarily focused on microcredit products. Lately, there has been a broadening of services to include savings and microinsurance, but the portion of microfinance providers in the Philippines that are offering such services remains small. inherent to microfinance. Traditional loan officers typically need extensive training before transferring into a microlending environment. xiv Furthermore, commercial banks may not have the infrastructure in place to reach micro-clients who often live in rural areas. Toward this end, rural banks and NGOs have a competitive advantage in terms of specialized knowledge and necessary infrastructure; therefore, it is not urprising to see commercial banks entering the market through the acquisition of rural banks. Micro-clients are considered to be inherently risky, largely due to their extreme susceptibility to declining economic conditions and lack of information on their creditworthiness. This risk is somewhat mitigated by the use of the group lending methodology and more frequent repayment schedule options. During challenging economic times, institutions engaged in microfinance activity face not only the risk of rising delinquencies, but also the risk of default of other financial nstitutions with payment or funding obligations to these microfinance institutions. xv This particular risk is less of an issue for commercial banks than for other microfinance providers, as commercial banks hold sufficient deposits and do not rely on donations or wholesale funding to finance their microfinance activity. In addition, credit pollution, a term used in microfinance to describe when customers borrow from multiple institutions and often use loans from one institution to fund payments on a loan from another institution, is a growing problem in the Philippines microfinance market. This type of pollution appears to worsen as competition increases. As more microfinance players enter the market, micro-clients have more institutions from which to borrow.