Conflict Management Essays

Conflict Management Essays Conflict Management Essay Conflict Management Essay Course: project economics and evaluation Course code: C11PV Coursework title: Project Appraisal Student Number: H00152083 Lecturer: Dr. Esinath Ndiweni 1. Introduction The work is centred on the importance of project appraisal therefore emphasising on the financial and non-financial techniques of appraisal. The object and, therefore, the importance of a project appraisal is making an analysis to see whether the project is viable. It is vital to know whether a project is technically feasible and whether it is going to be an economic liability or not. A project appraisal is an important part of any project and should be taken seriously because a lot rests on it. The effects of a project appraisal are long reaching and have very definite long term effects because of the capital investment that is always required in any project. Once a decision has been made to go ahead with a project, it is irreversible. Even if, through some catastrophic event, the project has to come to an unpredicted halt, the investment has been made so all could be lost. These high expenditures can be critical, not just for that particular project but for the health and survival of the entire business. As such, this paper combines the importance of both methods in order to help in assessment of project performance. 2. Literature review Recent literature has been emphasising on the need to consider the use of both financial and non-financial methods when dealing with project decisions. It is fundamental for a project to consider these techniques in order to measure a success of a project. This part of the paper is focused on critically analysing and evaluating these techniques and justifying why both are important. Some of these methods are very simple (e. g. payback period) while others are particularly sophisticated and complex (e. . Net Present Value, Real Options Reasoning). Simpler methods do not take into account the time value of the money and do not include the risk dimension. All these methods are well documented and explained in the literature. However, there is little empirical evidence on the factors that explain the use of the different techniques by firms. Thus, this p aper is focused on the use of capital investment appraisal methods (CIAM) in practice. Particularly, it analyses whether there are specific contingencies that explain why firms use and do not use specific capital investment appraisal methods. . Financial method of appraisal The decision making in projects are not difficult when we only use financial knowledge. Financial techniques use NPV, IRR, Payback Period techniques in appraising a project as well as making investment decisions. Through this technique, a firm can also analyse a project’s tendency to risk by using sensitivity analysis and risk analysis. Project managers often concentrate on establishing the financial visibility of their projects through reasonable economics. Traditionally, the Net Present Value, the Internal Rate of Return and Payback Period techniques have formed a major component of the financial techniques of investment. They are often based on the time value of money methods to forecast the expected monetary returns of a given project. The reliability of these techniques however depends on the accuracy of the given cash flows and the time frame as planned by the organisation. A major drawback to the financial method of appraisal is the fact that it cannot be practically assumed with a high degree of certainty. The value of all the factors is affected by numerous risks and unforeseen events which are often difficult to tell. Based on an article by S. Mohammed under project certainty (2001) he argued that the financial factors like the net present value, internal rate of return and payback period do not allow for non-financial aspects to be considered in assessing investment option. Non-financial methods such as political, legal and social factors are believed to be essential but rather, firms count them outside the normal appraisal process. These non-financial factors require careful knowledge in order to be managed. In major cases, the neglect of these aspects may result in failure of the project despite having favourable financial components. a. Types of financial techniques of appraisal There different types of techniques in the financial aspects of appraisal. The first to be considered is the Net present Value (NPV). This method enables the firm to determine how much value a project can add. It determines the acceptability of the project. Before taking any step to in a project, the NPV must be considered. If the NPV is positive, then the project can be accepted, whereas if it is negative, the project should be rejected. It determines the stance of the firm in the project and enables organisations to know the end product of the project in terms of cash. The limitation however is the fact that NPV does not accurately forecast future costs and benefits. Another technique is discounted cash flow method which provides approach for evaluating proposed investment project because they recognise the importance of the concepts of time value of money and the cost of capital, and stress the need for forecasting. It can be applied for valuing business as a whole and also for valuing individual business components of a company or firm. Also it can be used by both equity shareholders because on the basis of DCF valuation they can compare two companies and take decision whether to invest or not, and also debt holders can use DCF method to take decision regarding the company. The problem with DCF is that since it is a valuation tool it is dependent heavily on the inputs used for valuation purpose, so if inputs are changed slightly there can be large change in the value of a company. Payback period is another important technique which refers to the period of time a project can cover for the investment made by the company. For example if the initial project cost is ? 50000 and the annual cash flow is ? 10000, it implies that the payback period would be 5 years. It is also beneficial for those companies who are recently established and want to know the time frame in which they would recover their original investment, therefore those companies which do not want to take risk and want quick return on their investments can select those projects which have low payback period and ignore those projects which require long gestation projects. A major disadvantage of payback period is that it does not show a true picture when it comes to evaluating cash flows of a project. b. Advantages and disadvantages of different financial methods of appraisal The payback period is based on the idea of how much time is needed for the project to generate cash flows sufficient to recover the initial amount invested. It can be also used as a criterion for acceptance or rejection of projects in the case that the payback period is above or below a certain number of years previously defined. The main advantages of this method are: ease of understanding; simplicity of implementation; provides an idea of the degree of liquidity and risk of the project; and in times of huge instability, the use of this method is a way to increase the security of investments. Despite these advantages, the payback method has two important drawbacks. First, it ignores the cash flows occurring after the payback time, which can lead to the rejection of profitable projects that require a longer recovery period. Second, the payback period, in its original version, does not consider the time value of money in calculating the cash flows. This is inconsistent with the basic principles of financial mathematics. One way of overcoming this problem is to calculate the payback period by discounting (at the appropriate discounting rate) the expected future cash flows, as proposed by Longmore (1989). The accounting average rate of return (ARR) is computed as the ratio between the project’s estimated average profit and the average accounting value of the investment (Brealey and Myers, 1998). This ratio is compared with the firm’s accounting rate of return or other benchmark external to the firm (e. . the industry average value). The main advantages of this method are its simplicity of understanding and usage, given that the figures used in calculations are those provided by accounting reports. However, this method presents some important weaknesses. First, it does not take into account the time value of money. Second, being based on accounting earnings and not on the project’s cash flows, it is conceptual ly incorrect. Finally, there is the need to set a target rate of return as a prerequisite to apply ARR as an appraisal method (Akalu, 2001). c. Benefits and importance of financial techniques of Appraisal The object and, therefore, the importance of a project appraisal is making an analysis to see whether the project is viable. It is vital to know whether a project is technically feasible and whether it is going to be an economic liability or not. A project appraisal is an important part of any project and should be taken seriously because a lot rests on it. The effects of a project appraisal are long reaching and have very definite long term effects because of the capital investment that is always required in any project. Financial techniques are essential methods in determining the acceptability of the project. Financial method of appraisal is often regarded as the aspect of project appraisal, however, in order for a project to be successful non-financial aspects must also be considered. A major significance of financial method of approval is that it partially justifies spending money on a project. This means that it enquires whether a project gives good value for the budget of the project. It also gives confidence through its several tools that money is being put to good use. Financial techniques are also important decision making tools in which they involve comprehensive analysis of a wide range of data and judgement. This is to enable projects managers to ensure that the selected project is sustainable and it also guarantees sensible ways of managing risk. Furthermore, financial method helps to confirm that projects will be managed properly, by ensuring the calculations are accurate, that there are contingency plans to handle risks and setting milestones against which progress can be judged. 4. NON-FINANCIAL METHODS OF APPRAISAL Project appraisal is not all about financial methods. There are non-financial aspects of appraisal that play an important role in helping firms make decisions on projects. As a matter of fact, non-financial factors are considered as the backbones of a project that will either make or break a project. A very important factor that requires consideration is meeting the requirements of current and future legislation. In most cases it is regarded more important than any method of appraisal because it is uncertain. Every country belongs to a system of government that it is accountable to, in an event where every calculations and evaluations have been completed to determine the acceptability of a certain project, and then along the line the government in power brought a rather abrupt end to the given project. The logic in this implies financial techniques of appraisal are very significant to a project, however, they must go hand-in-hand with the non-financial factors and it is paramount for any management to consider meeting the requirements of the legislation first. Other important factors of non-financial methods are matching the standards of the industry, improving staff morale and improving relationships with clients. In most cases, it is fundamental to balance non-financial and financial techniques. The firm may need to decide how important each factor is to the project. An appraisal choice in this way can take into consideration how well the project fits with the techniques. d. Analysis of non-financial factors of appraisal There are different factors to be considered in the appraisal of projects. In most cases some of these factors are neglected in the event of appraisal and it does not reduce the profitability of the project, and on the other hand it renders the project non-profitable. First of all, the political factors must be considered. This is an obvious factor which its omission could result into the end of the project in the sense that the project manager or the firm must meet the requirements of the legislation. For example some governments could ban the use of some web-based advertisements due to political reasons definitely, and the project could sometime require the use of the web-based sites to create awareness of the project to the general public. Due to the actions of the government, the project consequently faces a setback. The advantage of this factor however is that, it does not occur often and it has a low probability of failing a project if it does not occur. A good example of this factor is when 2011, the Egyptian president decided to ban the access of YouTube, a video site that is known worldwide for its ease of video coverage. If the company decides to advertise the project through this means and along the way the decision is taken, the company will definitely face a setback. Another factor to be considered is the environmental factor. Green activities have recently gained popularity to the extent that companies not investing in equipment that preserve the environment are seen as non-responsive by the general public who are the customers. It is also important for a project to be aware of the resources in the area where the project would be launched. For example, in Nigeria, projects that are based on construction are usually suitable for the soils of the northern part because they are arable and fine. If a company decides to launch a project in the southern part there is possibility of failing to get the perfect soil due to large number of oil fields. Also the process of land acquisition is complex. It requires the company to follow a long process in order to acquire a large piece of land. Furthermore for short term projects it would be of immense advantage if the country is blessed with favourable weather conditions and a vast number of skilled labours. Furthermore in addition to the analysis of non-financial methods of appraisal, it is paramount to bring the usefulness of risk into the picture. It enhances decision making on marginal projects. A project whose single-value NPV is small may still be accepted following risk analysis on the grounds that its overall chances for yielding a satisfactory return are greater than is the probability of making an unacceptable loss. Likewise, a marginally positive project could be rejected on the basis of being excessively risky, or one with a lower NPV may be preferred to another with a higher NPV because of a better risk/return profile. However an area for caution is Risk analysis amplifies the predictive ability of sound models of reality. The accuracy of its predictions therefore can only be as good as the predictive capacity of the model employed. Lastly the company or the firm must consider the availability of manpower. In order to ensure the success of a project there must be a high concentration of skilled workers to handle the activities of the project. The higher the number of skilled workers will create a better chance for the project to be launched and completed in a good way. There must be individuals who will handle the financial methods as well and to ensure the project will be favourable or not. e. Limitations of non-financial methods The appraisal of projects in most cases requires the incorporation of the effects of both financial and non-financial methods of appraisal and ensures that these methods are appropriately represented. The main drawback to the non-financial methods of appraisal is that they cannot be used alone to determine the acceptability of a project. Also due to its intangible nature it brings limitation when using probability analysis. This is due to the fact that non-financial factors on projects are often difficult to quantify. As a result of this, current models often ignore this method because of the lack of knowledge of the qualitative and strategic benefit costs. Non-financial have an intangible nature, are difficult to estimate, and cause a subjective analysis to project evaluators. Therefore, the investment decision should rely not only on the traditional evaluation criteria, but also on non-financial factors, through the use of tools and methods that incorporate and quantify non-financial aspects in project evaluation. f. Comparison between financial and non-financial techniques of project appraisal The prominent issue about the financial and non-financial methods of appraisal is the fact both concepts are essential to the success of a project. The neglecting of one aspect of either of the concepts may result in the failure of the project because they work hand-in-hand. In other comments it was understood that the non-financial factors are not instrumental in the appraisal of a project due to their qualitative nature. On other hand, financial methods like the payback period do not give a true picture of what exactly is required in the investment. However in my view the financial techniques are better in showing the benefits of a project. 5. Conclusion The paper is centred on the importance of the techniques of project appraisal. Due to the mutual nature of both the financial and non-financial methods of appraisal, I believe they are both crucial factors to be considered in the appraisal of a project. The two methods complement each other. These methods are not only crucial for project use only but also for students and researchers as well, and hopefully upcoming innovation from researchers could bring adjustments to the financial methods to be simpler. . REFERENCES Akalu, M. (2001). â€Å"Re-examining project appraisal and control: developing a focus on wealth creation. † International Journal of Project Management 19: 375-383. Hermes, N. , P. Smid and L. Yao (2006). â€Å"Capital Budgeting Practices: A Comparative Study of the Netherlands and China†, Working Paper, University of Groningen, p. 36. Hawkins, C. J. , and D. W. Pearce (1971), â€Å"Capital Investment Appraisal† (MacMillan Press). Jones, C. , Software Assessments, Benchmarks, and Best Practices, Information Technology Series, Addison Wesley, 2000 Verbeeten, F. (1993). Do organizations adopt sophisticated capital budgeting practices to deal with uncertainty in the investment decision? A research note. Management Accounting Research 17: 106-120. nibusinessinfo. co. uk/content/strategic-issues-investment-appraisal (accessed on March 24, 2013) accountantnextdoor. com/investment-appraisal-8-non-financial-factors-that-every-accountants-and-managers-should-consider/ (accessed on 22nd march, 2013) letslearnfinance. com/advantages-and-disadvantages-of-payback-period. html (accessed on March 23rd, 2013)

How to Write a Good Resume

How to Write a Good Resume There is no need to wonder why learning how to write a good resume is important. This skill can determine whether a prospective employer finds you interesting enough to bring in for an interview. By knowing how to write a good resume, you’ll be putting yourself at the top of a large pile of applicants. There are a large number of people out there today looking for jobs. If you don’t put that extra effort into creating a truly memorable resume, someone else will and they’ll be the one invited for an interview instead of you. A resume is simply a one or two page document that sells you as a possible candidate for a job position. Think of writing an advertisement to sell something. You’d write all the points and details of your product in hopes to get someone interested enough to come and look at it. A resume is the same type of idea only you are selling yourself. Don’t make the mistake of simply documenting your experiences, job history and education on a boring piece of paper. If you truly want to get that elusive desired position then take the time to learn how to write a good resume. Resumes literally have only seconds to grab a prospective employer’s interest. Let’s face it, resumes aren’t the most exciting material to read and there could be hundreds that the employer has to wade through to determine which ones to call back for an interview. They’ll pick up a resume, scan it briefly and if nothing catches their eye, it goes into the reject pile. The person who knows how to write a good resume is the one who is going to catch the reader’s attention. This is where you have to make sure there is something visually appealing about yours to make them take those extra moments and actually read yours. It should be very clean and easy to read. Each section should be described, using strong power words, in as small of a space as possible. A few lines or less should be enough for each section. Make sure the whole document is balanced visually. If you truly want to know how to write a good resume, then make sure you have absolutely no gr ammatical or spelling errors. On such a sparse sheet any error will jump off the page and be noticed right away. Use the correct format and make sure all the pertinent information is included such as your personal contact information, listings of previous jobs and education history. Many people who don’t know how to write a good resume will just slap something together leaving out many of the primary important points that prospective employers are looking for. Someone who knows how to write a good resume will begin with researching the job position that is being applied for. Find out what qualifications are needed and what the employer is looking for by reading the job requirements carefully. Then write down everything that you have done and accomplished. Don’t limit yourself to work experiences only. You may find that some of the qualifications needed come from your personal life. Once you have done this, now arrange your thoughts in such a way that you are selling yourself to the prospective employer. Remember to stay with the simple clean look. Many people shy away from â€Å"boasting† but if you want to write a good resume, this is exactly what you have to get over. You need to get past the idea that you’re being a braggart and realize that this is what the employer is looking for. They need to know what you can do and what you are capable of. Try to think of yourself as a product, an entity separate from yourself. Write to sell yourself as a product. Use strong power words to grab the reader’s attention. Write in a confident, assured manner and let the employer know that you are the person for the job and that you’re capable of handling anything that may come your way.

The topic can be proposed by the writer Term Paper

The topic can be proposed by the writer - Term Paper Example However, in the contemporary market conditions, business affairs are highly complex in nature. There are many situations in the economy where few corporate firms in the industry possess extraordinary powers to manipulate the price and quantity supplied. These are situations when the resource apportion in the economy are not proficiently executed. The wastage of productive resources in the economy leads to social welfare dampening. Thus, for ensuring proper economic development in a nation, the economy must be guided by the Mixed Economic Principles. In such situations, the power and the antitrust practices of the private business organizations are controlled by the public authorities. This project would focus on the antitrust behavior of the famous multinational company of Microsoft in U.S. (Ross, â€Å"The Economic Theory of Agency: The Principal's Problem†). Monopoly Market In the theory of economics, a monopoly market structure is characterized with no competition in the ma rket. In this type of a market structure, there is only one seller in the market. On the other hand, the number of buyers in the industry is infinite. The single seller has the power to manipulate the market price of the product or service sold by him. The type of product or service sold by a monopoly seller in the market may be homogeneous or heterogeneous in nature. A monopoly seller is a profit maximizing agent in the industry. Figure 1: AR and MR Curve of a Monopoly Producer AR, MR Price or Average Revenue Curve (P or AR) Marginal Revenue Curve (MR) Quantity (Source: Authors Creation) The above diagram shows that the price or average revenue curve of a monopolist in the market is negatively sloped. The marginal revenue curve is also downward sloping for a monopolist. In the long run, a monopolist may enjoy normal (break-even) profit, supernormal profit or loss. A monopolist in the market discriminates among its consumers on the basis of the product prices charged to the customer s (Gravelle and Rees 145). Figure2: Price Discrimination (Source: Stole, â€Å"Price Discrimination and Imperfect Competition†) As shown in the above diagram, a monopolist may discriminate among its consumers on the basis of prices. In the above diagram, for the s=2 demand curve, the monopolist charges price p2 and it charges price p1 for the demand curve s=1. It may seem that a monopoly structure is a hypothetical market but by adopting special business strategies, a firm might become a natural monopolist in the industry. Figure 3: Natural Monopolist (Source: Tragakes 184) A single seller may grasp an entire share of market demand by taking the First Mover Advantage in business. By increasing the base of customers, the company may enjoy economies of scale in production. Scale economies in the long run would help the firm to minimize the average cost of production. In such a situation, it would be impossible for another firm to enter in the industry and sell products at such low average costs. Thus, a natural monopolist in the market enjoys scale in economies of production and prevents other firms from entering the industry. Figure 4: Welfare Loss in Monopoly (Source: Mankiw and Taylor 253) As stated in the above diagram, the efficient quantity of output is much more than the monopoly output threshold. On

Qualifications of Meaning in Advertising Images Case Study

Qualifications of Meaning in Advertising Images - Case Study Example An investigation of the interactive process instigated by cultural activity can also be seen as a "reflection on the intellectual position of certain cultures." (The English Association, 1999, p.182) Western design and visual communication is regarded as having originated from concepts of global power held by mass media and communication industries. (The English Association, 1999, p.182) By referring to Michael Halliday's concept of representing patterns of experience, visually speaking, it is suggested that what images portray is deeply related to the medium of visuality itself, and therefore a culture that is "dominated by visual signs" will communicate a different reality to one in which language is the predominate medium. (The English Association, 1999, p.182) There is a relationship between the visual and verbal texts and "the visual component of a text is an independently organized and structured message-connected to the verbal text, but in no way dependent on it and similar the other way around." (The English Association, 1999, p.182) Vivienne Westwood's image is an advertisement which focuses on selling a perfume called 'Boudoir'. (www.viviennewestwood.com) The image used in this advertisement portrays a female who is draped by purple covers and her body structure suggests her sleeping on a sunset sky. (www.viviennewestwood.com) The predominate colors are soft purple, yellow and blue. According to Michael D. Harris: "Images and symbols can convey meaning centrifugally by using concrete, physical information to evoke understandings within the viewer". (Harris, 2003, p.253) Through the images conveyed in Westwood's advertisement, it can be argued that the u se of covers and soft colors symbolize calm, sensually stimulating atmosphere, in which the reader is able to understand its connection with her perfume called 'Boudoir', or bedroom in English. Similarly, the advertisement provides the audience with a visual stimulus that is linked to sexuality, which is in turn an emotional stimulus. (Web/Online) As Westwood's image is analyzed, it is easy to understand that the sexuality concept is largely emphasized with the woman figure floating on air, naked and wrapped in bed sheets. The sexual feelings sent out to the audience through a semi-naked female stresses the "nature" style of the product. (Web/Online) The colors yellow, blue and purple contrast the relatively smaller bottle of perfume situated on the far right corner of the advertisement. The basic principle of advertising "requires that an advertisement should SURNAME, 3 first draw attention and interest then desire and action". (Web/Online) Thus, the visual language being employed by Westwood's advertisement is one of a sexual nature. The significance of the image or what its connotation implies is one of a private and sensual feeling that can be attained through the use of the perfume. Moreover, the language used in the advertisement, which is seen in bold white upper-case font, is the title of the perfume, 'Boudoir'. The title itself works through its own means as well as within the picture. For example, 'Boudoir' is part of the French language for

I Want to Become a Doctor Essay Example for Free

I Want to Become a Doctor Essay I want to become a doctor. Being one is not only my dream but also my parents. I dont wish to be the wealthiest and most highly graduated doctor the worlds ever seen but I want to be one who will serve her people and country in a true manner. Infact I dont want to be a doctor for only patients but for the needy too. Although I know it isnt everyones cup of tea to be faithful, humane and achieve great degrees at the same time but it is worth a try. I always want to feel the pride of being loyal to my patients and my duty. Well its not always the same story from the beginning infact it was totally different. When I was a little girl, I didnt actually wanted to be a doctor and never was worried about it. All I used to think was being a singer. Ofcourse that was a dream for me which I wished to come true. It included of me always singing silly songs and even recording and playing them back. But soon circumstances changed, I grew up and came to know my real destiny. Although I showed interest in studies from the beginning but singing was something which I used to do everytime, whether I be studying or playing. Many may call it as craziness but this was me as a kid. But as I mentioned earlier, I grew up to know where I belong and concentrated on it. For now, for real I have a different dream and that is I want to become a doctor.

Brave New World - A Wake-Up Call for Humanity Essay -- Brave New World

Brave New World - A Wake-Up Call for Humanity (this essay has problems with the format) Since the beginning of the Industrial Revolution in England, human society has had to struggle to adapt to new technology. There is a shift from traditional society to a modern one. Within the last ten years we have seen tremendous advances in science and technology, and we are becoming more and more socially dependent on it. In the Brave New World, Huxley states that we are moving in the direction of Utopia much more rapidly than anyone had ever anticipated. Its goal is achieving happiness by giving up science, art, religion and other things we cherish in our world. It is an inhumane society controlled by technology where human beings are produced on assembly line. His prophetic elements of human beings being conditioned, the concerns for the environment, importance of genetic engineering and reproduction, and our physical and mental development has now been one of the major factors that the governments, businesses and educational institutions are exploiting today. We are subconscio usly moving to this bureaucracy of conformity, and Brave New World is a wake up call from our obsessions of standardization socially, economically and politically. The story took place in A.F (After Ford) 632, this is 632years after Ford has released the first T-ford. Huxley used ?After Ford?to show its great advancement in making automobiles as a company over the years. In 1932, Huxley introduced Brave New World to show his great concern of the Western civilization. He saw that in the 1900s there was a dramatic economic change in different countries, where the wholesalers are being eliminated, and manufacturers selling directly to the consumers. For example, at that time Ford makes cars and even sells them. They control who and where they sell. Technology and transportation was increasing tremendously, which caused more and bigger factories, mass-productions (eg. automobiles), and more manufactured goods. There were more volumes of trade and production due to more machinery. As markets are growing, activities, structures, as well as attitudes towards companies are changing. Robert Heibroner suggests that ?the rise of such giant enterprises has changed the face of capitalism as they attempt to alter the market setting through a system of public and private planning (p.43).? Like the vi... ...re before (in terms of wealth, happiness, etc)? Are we too reliant on technology and science? Where is our individuality? Where is the tradeoff? How can we change to stop ourselves from moving toward the so-called ?Utopia?society? It seems that we too, are living in an incubator, trapped and conditioned, and we must do something to stop this from happening. Bibliography Huxley, Aldous. Brave New World. New York: HarperPerennial, 1946. http://www.primenet.com/~matthew/huxley/sub/Barron_BNW.html http://www.demigod.org/~zak/documents/high-school/brave-new-world/html http://www.ddc.net/ygg/etext/brave.htm Sexty,Robert. "Overview of the Business System" ,in Canadian Business and Society, Prentice-Hall, Scarborough, Ontario, 2005, pp5-22 Chandler, Alfred D.Jr. "The Roe of Business in the United States: A Historical Survey," in Business and Society, Barry Castro ed., Oxford University Press, pp.61-88 Steiner, G.A. and Steiner,J.F., "Critics of Business", in Business,Government and Society: A Managerial Perspective, 8th ed., McGraw-Hill, 2005.pp,69-90 Shaw, William H.., "The Nature of Capitalism",in Business Ethics, 3rd ed., Wadworth, 2006, pp.124-152

Comparing and Contrasting PCs and mainframes Essay

Before the existence of personal computer or PC, there is minicomputer or microcomputer, the term â€Å"computer† simply referred to mainframes. Mainframes and personal computers have changed drastically over the years but their core functions and systems have stayed the same. The mainframe is used to connect multiple users for large organizations, while personal computers are generally used for a single user. The more drastic changes for mainframes and personal computers have been the increase of speed, memory, and the reduction of size. Mainframes use to be the size of buildings, now they are the size of a normal Intel blade server system. Last time when you need to access the mainframe you need to use a terminal for data entry or retrieve certain data. Then, the idea came to off load some of the processing from the mainframe and place it on a personal computer. Compare A mainframe is not much difference from a personal computer. There are many similarities between mainframes and personal computers which stands to reason since one evolved from the other. Both mainframes and personal computers have one or more central processor units, a huge number of memory, one or more busses, and one or more I/O systems. Another similarity between the two is that they are both IBM-based systems and similar hardware is used to build them. They can also perform some complex calculations, applications and handle multiple programs. Another area is that both require operating system to work and also to handle and optimize all the I/O systems or modules. Differences Although they are much similarity between the mainframes and computer as mention above, the similarity stop there as they are many differences too. Mainframes cost much more in terms of thousands of dollar than a normal personal computer or server. The mainframe nowadays takes up less space and less power consumption compare to a server farm task to do the same job. As mention (Shurkin, 1996), Transaction processing jobs run constantly in real-time and must be available more than 99. 99% of the time. The reboots and lock-ups common with PCs are simply not acceptable. Thousands of individual users can log in simultaneously from a variety of sources such as computer terminals, ATM, or Internet web sites, and complete a single transaction. Time-sharing jobs can be started when needed from a computer terminal by authorized users who then use the mainframe as their own big PC. Finally, batch jobs are started automatically by the system at regular times according to a strict predetermined schedule. Batch jobs are used to do the periodic processing required on the data being received from transaction and time-sharing jobs. Closing the accounting books at month-end or copying disk files to tape for backup are examples of batch type processing. The OS or Operating System in a mainframe such as from IBM z/OS which is the successor to the IBM OS/390 can run Multiple Virtual Systems (MVS). The new IBM z/OS support WebSphere ® Application Server on z/OS, and also the new zFS (System z File System) Direct I/O capability in z/OS. This help to enhance performance improvements to the system, and also provide an easier Parallel Sysplex functionality (IBM, September 2011). In an article by (Barnett G, 2010) stated that the mainframe is best suited for enterprise cloud computing as it is easily able to handle hundreds of complex applications or programs, and most important able to run hundreds of environment in a single physical footprint and easily deliver the 24Ãâ€"7 availability that our customers demand. Conclusion (Doerbecker & Patterson, 2002), stated that the role of the mainframe has gradually changed from that of a data processor to that of a server, with the processing being done on the user’s PC. It has also been modified to interface to the Internet through the addition of TCP/IP protocols, Unix, and Java programming, to enable businesses to connect to their customers over that network. Once the only form of business computer available, the mainframe has survived the PC revolution and maintained an important function in commercial computing.