Saturday, November 2, 2019
Coaching skill education Essay Example | Topics and Well Written Essays - 1500 words - 1
Coaching skill education - Essay Example Scientists are of the view that this kind of training is good for the athletic sports as opposed to sports like table tennis, gymnastics, and figure skating which are considered early specialization sports. These early specialization sports take short number of years to fully develop competitor to join the elite competition. They therefore do not require as much number of years to prepare as for the athletic training (Bar-or, 2006). This stage as the name suggests is the fun stage. The athlete, or would be athlete, is meant to have fun as they learn the basic moves required in the sports. This stage is best suited for the ages of 6-9 for males and 6-8 for females. It is important to note the basic skills practiced here are not the sport specific yet but are just general body movement skills. This is to ensure the athlete is all round developed and grows with sporting without difficulty (Bloom, 2004). The emphasis is therefore to build basic motor skills. These will help produce an athlete with skills that are trainable in regards to the specific sport. There are three stages involve in the fundamental stage of skill development. These three stages can be categorized as: initial stage which takes (2-3 years), elementary stage which takes (4ââ¬â5 years) and mature stage which takes (6ââ¬â7 years). At the end of the FUNdamental stage, the athlete should have the basic sport skills such as speed, good balance, and agility. Strength training at this stage should include using the childââ¬â¢s weight another important aspect also is the introduction of the child to the ethics of sports. It is important that the child learn sports basics from the tender age (Ericsson & Charnesss, 1994). At this stage, the athlete is to learn all fundamental sports skills. The main objective of this stage is to further the skills learnt at the first stage. The motor skills are advanced and the child
Thursday, October 31, 2019
NYPD Stop, Question, and Frisk Policy Term Paper
NYPD Stop, Question, and Frisk Policy - Term Paper Example .. found that the stops were not actually finding or preventing crimes. 97% percent of stops resulted in no conviction at all, although they did still utilize city time and resources to reach those outcomes. ââ¬Å" (Clark, Meredith ââ¬Å"Reports Find 'Stop-and-Frisk' Does Not Cut Crimeâ⬠). Reports also say that the policy has only served to fuel racial discrimination charges as those stopped are supposedly mostly black and Latino men. A move that according to most, constitutes the violation of a person's constitutional rights. The American public has their right to privacy and has quite strict rules regarding racial discrimination across the country. The New York Stop-and-Frisk policy has chosen to ignore the constitutionally and legally protected rights of the New York citizens in an effort to ââ¬Å"keep peaceâ⬠within their borders. With an average of 88 percent of ââ¬Å"stop and frisksâ⬠resulting in the release of those being stopped without issuing a ticket or resulting in an arrest (ââ¬Å"NY 'Stop and Frisk' Policy Violates Minority Rights, US Constitution - Judgeâ⬠) , this policy should be seen as nothing but merely a nuisance. Evidence of this constitutional rights violation can be seen in the annals of the New York Attorney General's office as far back as 1999 when it was discovered that ââ¬Å"Black and Latino New Yorkers were stopped at far higher rates than white men and womenâ⬠(ââ¬Å"NY 'Stop and Frisk' Policy Violates Minority Rights, US Constitution - Judgeâ⬠). Such acts can be deemed as racial profiling which is a direct violation of the United States Constitution. The Fourth Amendment of the United States Constitution declares that people shall be protected from unreasonable searches. Yet in the state of New York, under the Stop-and-Frisk policy, at least 200,000 stops were made without reasonable suspicion from the year 2002 - 2004. Such a high rate of stops overall makes it quite evident that that there is no crime taking place and that the people being stopped were not in any way acting in a suspicious manner (Hanna, Jason ââ¬Å"Judge Rules NYC's Stop-and-Frisk Policy Unconstitutional; City Vows Appeal). Over the past decade, a total of 5 million stops have occurred involving mostly Black and Hispanic men. The New York Stop-and-Frisk Policy is nothing more than a violation of one's right to privacy according to some people who have been involved in the implementation of the policy. Under the 14th Amendment people, regardless of gender, race, and ethnicity are also protected and given the equal protection of the law (Adelmann, Bob ââ¬Å"Judge Rules New York City's 'Stop and Frisk' Policy Unconstitutionalâ⬠). This amendment in particular is violated by the stop-and-frisk policy because of the conscious decision of the police force to concentrate their operations on the members of the black, Latino, and Hispanic communities. Due to the existence of the stop-and-frisk policy, New Yorkers are gripped with fear that they can be apprehended on the streets for no apparent reason. It has led people to fear a police state coming into existence in New York City. This is a policy that must be brought to an end because: ââ¬Å"The NYPD's practice of making stops that lack individualized reasonable suspicion has been so pervasive and persistent as to become not only a part of the NYPD's standard operating procedure, but a fact of daily life
Tuesday, October 29, 2019
International Finance Questions Assignment Example | Topics and Well Written Essays - 2250 words
International Finance Questions - Assignment Example Interest rate swaps are over the counter (private) transactions; and they are highly liquid financial derivatives that can be used by hedgers to manage both their fixed and floating assets and liabilities. A party that pay fixed rate is referred to as the payer and the receiving party is called the receiver. For example, X agrees to pay fixed rate of interest under specified time intervals to W and in return, X receives variable or floating interest on notional principle from W. The types of currency swaps include fixed for floating swap for same currency, fixed for floating rate for different currencies, floating for floating swap for same currency, floating for floating rate for different currencies and fixed for fixed rate swap for different currencies. Currency swap refers to a foreign-exchange currency agreement entered into by two parties in relation to principal alone or with interest for payment of a specified loan sum in one currency for an equivalent principle and interest of a specified loan sum in another currency (Shamah, 2003). Payments are made periodically and at maturity or termination of the contract, the principal amounts are re-exchanged. Currency swaps are over the counter financial instruments. Foreign currency swaps are long term because they involve high costs associated with finding counterparty. Currency swap are further divided into two. Principle only currency swap and principal plus interest currency swap. Principle only currency swap is appropriate for contract that are up to ten years and involves exchange of principle with another party in a specific time in future at a rate agreed at the present. It is used to secure cheap loan and reduce exposure to exchange rate fluctuations. Principal plus interest currency swap considers both principal and interest payments. In currency swap, principal is exchanged on national amounts at market rates, often using the same rate for the transfer at inception and at maturity. Credit default swa ps refers to contracts between two parties, where one who buys credit default swap, pays a seller and receives a payoff if loan is defaulted.
Sunday, October 27, 2019
Judgemental Forecasting Method
Judgemental Forecasting Method Forecasting is a significant tool for many different sectors as it makes predictions on the future by looking at historical data, present data and the analysing of trends. However, some business forecasting is not done at a good level, as some business people confuse it with goals and planning. Forecasting, Goals and Planning, these three differ significantly, Forecasting is trying to calculate the future a specific as possible, by using historical data, present data and the analysing of trend, Goals for business is that the business would like to happen for them in the near future. Goals are usually done with lacking any planning or forecasting, as the business looks at their competitors and they either want to match them or exceed them in the market. Planning is looking at the forecasting and goals and deciding the best action that will make the business forecasting match their goals. As the business world is moving more into analysing data, forecasting is and will be a vital part of decision-making for the management team, as the forecasting can help with short term, medium term and long term forecasting. When a business has a lack of past data or the business is launching a new product, the business can still use forecasting, and they will use Judgement forecasting. Judgement forecasting is the use of opinion, intuitive judgment and subjective probability estimates. Judgment forecasting has few methods that can be used to get the best statistical analysis and there are Statistical surveys, Scenario building, Delphi methods, Technology forecasting and forecast by analogy. The Judgement forecasting has increasingly been recognised as a science, and over the years the quality of Judgement forecasting has been improving as the approach has been well structured and efficient. But it is important to understand that Judgement forecasting has not been perfected as it still has limitations. Judgment forecast depend on human cognition which has limitations, For example, a limited memory may render recent events more important than they actually are and may ignore momentous events from the more distant past; or a limited attention span may result in important information being missed, or a misunderstanding of causal relationships may lead to erroneous inference.1 This example shows that human memory can affect the judgment forecast in a negative way, and misunderstanding can lead to wishful thinking or optimistic view which can lead to faulty forecast, and in the case of launching a new product, the marketing and salesman teams will have an optimistic view for their lunch so they will not forecast its failure Beware of the enthusiasm of your marketing and sales colleagues2. In the case of judgment forecasting without any domain knowledge and only a set of time series data is used, getting a forecast will be very hard, as in the Hogath and makridais (1981) in their paper, where they have examined around 175 papers where there was judgment forecasting, they have approached a result of that quantitative models outperform judgmental forecasts3, in their research they have seen that judgment has been linked with systematic biases and errors, as some people were looking for patterns and linking together clues where there was none as the process was random. Judgment forecasting has been compared to many different kinds of forecasting such as statistical methods, and many different types of research conclude different findings of the accuracy of the two methods. In the paper of Lawrence (1985) and (1986) where the paper compares the accuracy of quantities model and judgment forecasting, the paper has come to a conclusion that demonstrated judgmental forecasting to be at least as accurate as statistical techniques4, also in the paper show that the standard deviation of the error of the statistical method was greater than the judgment forecast error. The paper also shows that if judgment forecasting was added in the statistical method, better sets of forecasting can be predicted and the level of error would decrease. In the study by Makridakis S and Winkler R (1983) it shows that there are few ways to combine the judgement and statistical forecasting. In the study it says that there is two way to join the two forecasting methods, the first is Concurrent Incorporation where to get the final forecasting both methods will have to be used to get the averaging procedure. The second way is a Posterior Incorporation which includes the judgmental revision of statistically derived forecasts5Ãâà this second way tries to improve forecasting by allowing the judgement forecasting to see and access the results of the statistical forecasting. After many years of research in the area of forecasting, Judgment forecasting improves when greater domain knowledge and more up to date information included, therefore by using this new information, judgment approach can then be adjusted and producing an improved forecast. By using a well structured and systematic approach, it helps to decrease the undesirable effects of the limitations of the forecast. By well structuring the approach it will make the forecasting task clear, and a good understanding of the structure is important to avoid unclear and uncertain terms. The method that is well structured that can be used for the judgment forecasting is the Delphi methods. The Delphi method is the use of experts opinions and judgment in the specific field to predict the expectation in that field. The Delphi method is respect method as it only looks at the opinions of the experts in their field and allows them to be anonymous at all time, therefore there is not influenced by their social and political pressure in their prediction, and all experts opinions are weighted equally so no one prediction is superior to another. But like any other approach, the Delphi method also has its limitations, the method is time-consuming, therefore, the experts might be discouraged to join the study or they will not contribute fully at all time of the approach. Adding domain knowledge to the judgement forecasting can be used fully for the prediction. The knowledge of the time series and further information which explains the historical performance of the series can have a minor influence on the forecast or a huge impact on the variable of the data. The domain knowledge represents the un-modelled module of the series. The un-modelled module is very important as it can be included into the statistical forecast to reach better results for the forecast. Many studies have been looking at judgement forecasting with the addition of domain knowledge, a study by Brown (1996) which looked at earning per share forecasting. The study shows that the forecasting of the management team was more accurate than the analysts predictions and the statistical model forecasting. In the study, it shows that the inside information which is the domain knowledge of the firm lead to the accuracy of the management team forecast. In the study, it showed that it did not matter if the statistical model was complex or simple as the management team and analysts got a higher accuracy level because of the domain knowledge the management team holds. In a study by Sanders (1992) where it compared the preference of judgement methods to statistical forecasting, the study compared both methods by the use of an artificial time series. The study looked at 38 business students, the students were thought some different ways of statistical and judgement forecasting and every student had two-time series and past data. The task for the students was to use all the information they had to forecast the next 12 steps ahead. The students were given one week to produce their judgement forecasting, then they were given statistical forecasting of the series, and then they were asked to review their forecast and do any adjustment if needed. The study has used the mean absolute percentage error to assess the forecasting results, and the mean percentage error was applied to calculate the level of bias in the forecast. The results of the study have similar results as the past studies did, as statistical methods outperformed judgment forecasting in all -time series but not the low noise step function. And the more complex the data pattern got the worse the judgement forecast became. The study clearly shows that the statistical methods had better forecasting in the high noise level data, and an increase in noise level has worsened off the judgement forecasting, the study says this is due because as the high noise increases it becomes harder for an individual to detect any kind of patterns. While judgement forecasting didnt perform well during a high noise, it did significantly well in the low noise function. Looking at the bias in the study, it shows that at a low noise series the judgement revision bias is low in the series, while for a high noise series it increases the bias in the series. The main point of the study by Sanders (1992) is that judgement amendments with statistical methods can have great advantage for a low noise series with a specific data patterns, and it will do better when statistical method are applied blindly to a time series, also at a low noise series the judgement revision bias is low in the series, but in a high noise series the judgment forecasting is not the right approach comparing to a statistical forecasting and in some instances the bias level in the judgement forecasting was greater than the statistical forecasting in a high noise series. Sanders approach of the judgement forecasting is not overwhelm approved in the forecasting filed, as it has many critics wondering about its efficiency, as the sanders approach for judgment forecasting does not use the experts opinions on the field that is going to be forecasted but uses the opinion and judgment of normal people who may have not have studied the field and have a small knowledge about it, therefore, there judgement would not be the best to use to create a prediction from it. Judgemental forecasting is an important tool in the business today but it has to be used right, as some business people confuse it with goals and planning. When doing a judgmental forecasting the aims and the purpose of the forecasting have to be clear and well structured to get better results. But like any forecasting method, Judgemental forecasting has its limitations and it is up to the person who is performing the forecast to make sure they are at a minimum. To get a better prediction it is important to try and increase the domain knowledge of the series as it has been shown in the Brown (1996) study, as the management team outperformed the statistical analysis due to the inside information of the firm and because they are the experts in that field. Also to improve the judgement forecasting as it has been shown in the Sanders (1992) have found if judgment forecasting is done with a revision of statistical methods, the forecast can be more accurate in a low noise series and with a less level of bias. Judgmental forecasting is not a perfect method to predict the outcome of a specific time series but it is a good point to start. References: Rob J Hyndman, (2013) Chapter: Judgmental Forecasts: Beware of limitations. Book: Forecasting: principles and practice R. Fildes and P. Goodwin (2007b). Good and bad judgment in forecasting: lessons from four companies. Foresight: The International Journal of Applied Forecasting 8, 5-10. Hogarth Makridakis, 1981 R.M. Hogarth, S. Makridakis Forecasting and planning: An evaluation Management Science, 27 (1981), pp. 115-138 Lawrence et al., 1986M. Lawrence, R. Edmundson, M. OConnor The accuracy of combining judgmental and statistical forecasts, Management Science, 32 (1986), pp. 1521-1532 Makridakis S and Winkler R (1983) Averages of forecasts: Some empirical results. Mgmt Sci. 29, 987-996 Sanders, 1992à N.R. SandersÃâà Ãâà Accuracy of judgmental forecasts: A comparisonÃâà Omega, 20 (3) (1992), p. 353 Brown, 1996 L. Brown Analyst forecasting errors and their implications for security analysts: An alternative perspective Financial Analysts Journal, 52 (1) (1996), pp. 40-47 Lawrence, M., Goodwin, P., OConnor, M., ÃÆ'-nkal, D. (2006). Judgmental forecasting: A review of progress over the last 25years. International Journal of Forecasting, 22(3), 493-518.
Friday, October 25, 2019
Sometimes A Shining Moment :: essays research papers
à à à à à In the book Sometimes a Shining Moment: Eliot Wiginton had a student that talked about a teacher who takes time to recognize students as an individual and not just part of a group. The student went on to say ââ¬Å"I had one particular teacher that I would never forget. Once when the teacher gave back an essay I found that she had complimented my essay, the topic, and even me.â⬠I had a teacher that that was just like the teacher that one of the juniors or seniors had. The teacher that I remember the best was my twelfth grade English teacher, Mrs. Oehler was a type of teacher that always involved every one in the class discussion. She took the time to realize me as a individual and not just a student that showed up for her class every day. Every day when I went to class I was excited to be their. We never knew what Mrs. Oehler had up her sleeve, but we knew that we would have a good time. à à à à à When I showed up at room 124 on the first day of class I did not know what to expect. You see I never had Mrs. Oehler in my previous three years of high school. I thought she would be a nice person to have as teacher, but I never knew that she would be the best teacher that I ever had. I first noticed that Mrs. Oehler was a special kind of person when she came over to my desk and out of the clear blue she asked me about my story I was writing for her class. I was surprised to here her say ââ¬Å"so Matt how do you like you story so farâ⬠. She did not ask any body else in the class, just me. It was those little things that she did that impressed me. She always made time in class for each and every one of us to state our opinion about the days topic. à à à à à Some days when we were reading a story she would turn it into a theatrical performance. She always keep us interested in what we were reading, and turned an ordinary assignment that would of been boring with any other teacher into a fun and rewarding experience. à à à à à We read the Adromenal Strain a story that dealt with a deadly virus from outer space and the use of the atomic bomb to rid the earth of this deadly infection. Our class was mixed with different emotions about using the atomic bomb. We discussed the effects and devastation that the bomb could bring and
Thursday, October 24, 2019
Harlem Reinassance Research Muldoon
Back then, it was also well known as men New Negro Movementâ⬠, named after a famous poem titled The New Negro, written by a significant African American philosopher of this era, Lain Locke of 1925. The Renaissance involved many writers associated with Harlem, Manhattan, a ND the migration of African Americans from one part of the U. S. To another. This cultural move meet marked the first time, society as a whole noticed and focused on African American Literal ere.Although some did not believe that the Renaissance had an influence on African America an literature or the community, Harlem Renaissance became the period in which a group of Africa an American poets reduced amazing literature in three categories of art, essays, and poetry. The New Negro Movement was inspired by Marcus Graver, CEO of The Universal Negro Improvement Association (UNION), Lain Locke, the author of t he poem ââ¬Å"New Negroâ⬠, and W. E. B Du Bois, an American Civil Rights Activists and editor. The mo vement motivated blacks and boosted their pride.African Americans now expanded their culture through deep artwork and literature. Harlem Renaissance did no t only shape American culture, but it also added its own elements to the American tradition n. It offered ewe ways of understanding and visualizing what it meant to be a black back a t this cruel time in history. Iberian, an African historian, states in his book, ââ¬Å"Journey Thro ugh the Power of the Rainbow,â⬠that ââ¬Å"The best of humanity recorded history is a Cree dative balance between the horrors endured and victories achieved, and so it was d urine The Harlem Renaissance. (Iberian, 81 . ) This explained and proved that the move moment led to new philosophical ideas regarding all the conflicts African Americans expert encode in the twenties of America. This significant change in the mindset of African Name scans stuck throughout centuries and still carries on even today. Harlem Renaissance is among literary and ar tistic movements due to it's connection to Civil Rights and reform organizations. It encircled everything fro political pieces to jazz poetry. This era brings along some great poets, such as , Claude McKay, James Weldon Johnson, and Counted Culled.Longboats Hughes was by far one of the best poets on this period. The Crisis Magazine, the official magazine of National Association for the Advancement of Colored People (NAACP) that WA s mainly subscribed to blacks only. Negro World, the newspaper authored by Marcus Graver was the reason why African American writing was published. The Harlem Renaissance helped African Americans draw up a vision and gain opportunities for publications. The publications included poetry, short SST orgies, and essay sent it by black writers.This encouraged more to write and express thee r feelings through art, expression was a new way of feeling free. Harlem was described by Lain Locke (1 8861 954) ââ¬Å"as not being the largest Negro populated community, b ut the first concentration in history of s mom many diverse elements of Negro lifeâ⬠(44. ) The Renaissance was related to ââ¬Å"The New Negro 1925)â⬠edited by Lain Locke, was the closest written statement that ideally list Ted The Harlem Renaissance. Locke promoted musicians, writers, and artist to look to Africa as an inspiration of their works.The New Negro describes the awareness and the e hope for black equality, he states no longer would blacks allow themselves to adjust themselves with unreasonable white requests. â⬠Here he IS creating an awareness on self inference that blacks have gained throughout the years of inequality. In fact, Houston A. Baker's, in book ââ¬Å"Modernism and the Harlem Renaissance,â⬠indicates that ââ¬Å"Locke success deed in writing our first national book, offering â⬠¦ The sounds, songs, images, and gig NSA off nation. (473) Baker is praising Locke for writing the New Negro book because it represents the beginning Of the H arlem Renaissance, and African American us e it to boost their self confidence. The power in Lock?s poetry was held in people an d made them look through their actions and behaviors, and also view life from a differ perspective. Locke has a great influence on literature, and he encouraged Poe pale to illustrate African and African American subjects in their writing. It is very vivo us that The Harlem Renaissance gave black people a cultural difference through liter tauter.Literature was a great way to people used to show their emotions, pain, and motivation. W. E. B Du Bois is an African American editor and author, who wanted equal rights for African American. He used literature to spread motivation for the blacks. He was an ardent peace activists and advocate reduction of racism. Du Bois p published his collection of 14 essays named, ââ¬Å"The Souls of Black Folkâ⬠, in 1903, and these sees says helped show the intellect of black race. He was a literary and cultural inspiratio n on that eloped activate the Harlem Renaissance and the powerful art about the Africa n American experience.Du Bois used his influential role in Crisis magazine to expose and oppose racism and injustices, such as lynching and segregation. He promoted African American artistic talents in his writing called ââ¬Å"A Negro Art Renaissance. â⬠He wanted black k artist to realize their ethical assignment by being committed to showing the issue of RA Coal equality in their work; in response to their own experience. His writings are a defining text of the The Negro Movement because of its deep effect on an entire genre action that retreated the center of Harlem Renaissance.This movement produced work the at was both initiated and an engaged with the African American culture. The Harlem Renal seance created African American literature in the United States and influence on man y authors throughout the twentieth century. The Harlem Renaissance was a transformable period in time when poe try chaw engaged a nation of Parliamentarians to an incredible level. Longboats Hughes was one of the leading black writers in that time period, and wrote many different types of lit ratter. He wrote, and created a new literary art form called jazz poetry.His poem ââ¬Å"The N grog Speaks of Rivers,â⬠provides solid unity for the African American history. His pop covered the issues faced by Parliamentarians with a combination of music, cheerfulness, and culture. Hughes essay spoke to the concerns of the Harlem Renaissance as it celebrated African American creative innovations such as blues, spirituals , jazz, and literary work that engaged African American life. The Harlem Renaissance was a rebirth of African American culture in New Your City. Literature from the Harlem Renaissance inspired many modern writers s such as Alice Walker, Impair Brake, Maya Angelo, and Toni Morrison.It also influence Martin Luther King's ââ¬Å"l Have A Dreamâ⬠speech because the speech seems t o b e closely related to Longboats Hughes poem ââ¬Å"Let America be America Againâ⬠. Harlem Re nuisance provided a very important advancement in African American Art and Literature Inspiration from Longboats Hughes and Lain Locke are witnessed in modern c ultra and society. Even though the movement has been over since, the effects of the AU thorns and words written are still generally known today. In conclusion, the legacy of the Harlem Renaissance has opened doors for Todd ayes African American writers.The Harlem Renaissance was the internal spring for Parliamentarians branching out into the world on their own desire. The renal seance opened a new dimension for Parliamentarians and brought about the realization of ââ¬Å"l c an do it, and do it with dignity, grace, and style. â⬠This time period in history was not just a nation anal movement, but an impact creating a revolution Of sorts. Harlem saw a nonbelievers work per excellence, in various fields, which gave Parliam entarians a renewed image and a fresh outlet ask. Harlem Renaissance has been the breeding ground for creative endeavors by authors , poets, and artists.
Wednesday, October 23, 2019
Green Mountain Coffee Case Study Essay
Conscientious capitalism underscores the importance of aligning stakeholdersââ¬â¢: employees, customers, shareholders, suppliers, community, and the environment, interests into the companyââ¬â¢s decisions by refocusing on purpose instead of profit, which incidentally results in a successful bottom line (Sacks, 2009). The operating philosophy of conscientious capitalism incorporates three assumptions: interconnectedness, holistic wealth, and traversing time through multiple generations. Green Mountain Coffee Roasters (GMCR) has integrated this ethical continuum into their operational strategy, which has led to their current success. Interconnectedness GMCR embodies interconnectedness through their annual summit meetings that employ an Appreciative Inquiry (AI) 4-D model and through their organizationââ¬â¢s cultural commitment. At the summit meetings, multiple internal and external company stakeholders convene to strategically plan for the future, assess stakeholder value and contributions to success, as well as reflect on company and industry historical trends, all which promote the positive core of GMCR (Neville, 2008). Interconnectedness is also evident by the embodiment of GMCRââ¬â¢s inaugural five core beliefs: a passion for coffee (recreating Stillerââ¬â¢s first experience of the perfect cup of coffee), financial performance, a destination workplace, ethics, and commitment to social responsibility (Neville, 2008). By engaging the stakeholders, especially with annual trips to the ââ¬Å"originâ⬠, GMCR creates a unified allegiance to social and ethical responsibility that produces positive ethical and financial outcomes for the company. Holistic wealth GMCR epitomizes holistic wealth in the form of value-based management (VBM), which can be defined as an integrated management control system that measures, encourages, and supports the creation of net worth beyond capital accumulation and profit (Beck & Britzelmaier, 2011). One way that GMCR uses VBM to create net worth is through flexible cash flow models provided to coffee farmers. The model entails providing interest-free pecuniary resources to coffee growers preceding the harvest, which secures perpetual payments for the suppliers, invariable income for the farmerââ¬â¢s family, and an uninterrupted coffee flow for GMCR (Neville, 2008). Another example of VBM is GMCRââ¬â¢s utilization of Fair Trade initiatives and family farming contracts that employ direct buying agreements granting farmers fair prices for their crops. By employing these types of social standards as a tradeoff for long-term sustainability, GMCR makes all stakeholders feel valued, which in turn increases their passion for productivity and subsequently GMCRââ¬â¢s bottom line. Traversing time through multiple generations With a global focus on agricultural replenishment and perpetuity, the common emphasis for businesses in this industry has been extending the vivaciousness of crops across multiple generations. Given that 30 coffee trees are required to provide one, three time per day coffee drinker with enough coffee and combined with the fact that the trees have to remain viable for at least 10 years to yield a financially profitable crop, GMCRââ¬â¢s commitment to organic food processes promotes to the concept of multiple generations of time, allowing farmers to pass their crops through generations (Neville, 2008). By trading a traditional business paradigm for one centered on an all-inclusive value-based continuum that encompasses interconnected systems of farmers, stakeholders, land, and visible and invisible time, GMCR is a prime example of how conscientious capitalism can stimulate corporate and financial success.
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