The Fourteen Points of Woodrow Wilson

The Fourteen Points of Woodrow Wilson The Fourteen Points were a set of diplomatic principles developed by the administration of President Woodrow Wilson during World War I. These were intended as a statement of American war aims as well as to provide a path to peace. Highly progressive, the Fourteen Points were generally well received when announced in January 1918 but some doubt existed as to whether they could be implemented in a practical sense. That November, Germany approached the Allies for a peace based on Wilsons ideas and an armistice was granted. In the Paris Peace Conference that followed, many of the points were set aside as the need for reparations, imperial competition, and a desire for revenge on Germany took precedence. Background In April 1917, the United States entered World War I on the side of the Allies. Previously angered by the sinking of Lusitania, President Woodrow Wilson led the nation to war after learning of the Zimmermann Telegram and Germanys resumption of unrestricted submarine warfare. Though possessing a massive pool of manpower and resources, the United States required time to mobilize its forces for war. As a result, Britain and France continued to bear the brunt of the fighting in 1917 as their forces took part in the failed Nivelle Offensive as well as the bloody battles at Arras and Passchendaele. With American forces preparing for combat, Wilson formed a study group in September 1917 to develop the nations formal war aims. The Inquiry Known as the Inquiry, this group was headed by Colonel Edward M. House, a close advisor to Wilson, and guided by philosopher Sidney Mezes. Possessing a wide variety of expertise, the group also sought to research topics that could be key issues at a postwar peace conference. Guided by the tenets of progressivism which had steered American domestic policy during the previous decade, the group worked to apply these principles to the international stage. The result was a core list of points which stressed self-determination of peoples, free trade, and open diplomacy. Reviewing the Inquirys work, Wilson believed that it could serve as the basis for a peace agreement. President Woodrow Wilson addresses Congress on January 8, 1918. Public Domain Wilson's Speech Going before a joint session of Congress on January 8, 1918, Wilson outlined American intentions and presented the Inquirys work as the Fourteen Points. Largely drafted by Mezes, Walter Lippmann, Isaiah Bowman, and David Hunter Miller, the points stressed the elimination of secret treaties, the freedom of the seas, limitations on armaments, and the resolution of imperial claims with the goal of self-determination for colonial subjects. Additional points called for the German withdrawal from occupied parts of France, Belgium, and Russia as well as encouragement for the latter, then under Bolshevik rule, to remain in the war. Wilson believed that international acceptance of the points would lead to a just and lasting peace. The Fourteen Points as set forth by Wilson were: The Fourteen Points I. Open covenants of peace, openly arrived at, after which there shall be no private international understandings of any kind but diplomacy shall proceed always frankly and in the public view. II. Absolute freedom of navigation upon the seas, outside territorial waters, alike in peace and in war, except as the seas may be closed in whole or in part by international action for the enforcement of international covenants. III. The removal, so far as possible, of all economic barriers and the establishment of an equality of trade conditions among all the nations consenting to the peace and associating themselves for its maintenance. IV. Adequate guarantees given and taken that national armaments will be reduced to the lowest point consistent with domestic safety. V. A free, open-minded, and absolutely impartial adjustment of all colonial claims, based upon a strict observance of the principle that in determining all such questions of sovereignty the interests of the populations concerned must have equal weight with the equitable claims of the government whose title is to be determined. VI. The evacuation of all Russian territory and such a settlement of all questions affecting Russia as will secure the best and freest cooperation of the other nations of the world in obtaining for her an unhampered and unembarrassed opportunity for the independent determination of her own political development and national policy and assure her of a sincere welcome into the society of free nations under institutions of her own choosing; and, more than a welcome, assistance also of every kind that she may need and may herself desire. The treatment accorded Russia by her sister nations in the months to come will be the acid test of their good will, of their comprehension of her needs as distinguished from their own interests, and of their intelligent and unselfish sympathy. VII. Belgium, the whole world will agree, must be evacuated and restored, without any attempt to limit the sovereignty which she enjoys in common with all other free nations. No other single act will serve as this will serve to restore confidence among the nations in the laws which they have themselves set and determined for the government of their relations with one another. Without this healing act the whole structure and validity of international law is forever impaired. VIII. All French territory should be freed and the invaded portions restored, and the wrong done to France by Prussia in 1871 in the matter of Alsace-Lorraine, which has unsettled the peace of the world for nearly fifty years, should be righted, in order that peace may once more be made secure in the interest of all. IX. A readjustment of the frontiers of Italy should be effected along clearly recognizable lines of nationality. X. The peoples of Austria-Hungary, whose place among the nations we wish to see safeguarded and assured, should be accorded the freest opportunity of autonomous development. XI. Rumania, Serbia, and Montenegro should be evacuated; occupied territories restored; Serbia accorded free and secure access to the sea; and the relations of the several Balkan states to one another determined by friendly counsel along historically established lines of allegiance and nationality; and international guarantees of the political and economic independence and territorial integrity of the several Balkan states should be entered into. XII. The Turkish portions of the present Ottoman Empire should be assured a secure sovereignty, but the other nationalities which are now under Turkish rule should be assured an undoubted security of life and an absolutely unmolested opportunity of an autonomous development, and the Dardanelles should be permanently opened as a free passage to the ships and commerce of all nations under international guarantees. XIII. An independent Polish state should be erected which should include the territories inhabited by indisputably Polish populations, which should be assured a free and secure access to the sea, and whose political and economic independence and territorial integrity should be guaranteed by international covenant. XIV. A general association of nations must be formed under specific covenants for the purpose of affording mutual guarantees of political independence and territorial integrity to great and small states alike. Reaction Though Wilsons Fourteen Points were well received by the public at home and abroad, foreign leaders were skeptical as to whether they could be effectively applied to the real world. Leery of Wilsons idealism, leaders such as David Lloyd George, Georges Clemenceau, and Vittorio Orlando were hesitant to accept the points as formal war aims. In an effort to gain support from the Allied leaders, Wilson tasked House with lobbying their behalf. Prime Minister David Lloyd George. Library of Congress On October 16, Wilson met with British intelligence chief, Sir William Wiseman, in an effort to secure Londons approval. While Lloyd Georges government was largely supportive, it refused to honor the point regarding freedom of the seas and also desired to see a point added regarding war reparations. Continuing to work through diplomatic channels, the Wilson Administration secured support for the Fourteen Points from France and Italy on November 1. This internal diplomatic campaign among the Allies paralleled a discourse that Wilson was having with German officials which began on October 5. With the military situation deteriorating, the Germans finally approached the Allies regarding an armistice based on the terms of the Fourteen Points. This was concluded on November 11 at Compià ¨gne and brought an end to the fighting. Paris Peace Conference As the Paris Peace Conference began in January 1919, Wilson quickly found that actual support for the Fourteen Points was lacking on the part of his allies. This was largely due to the need for reparations, imperial competition, and a desire to inflict a harsh peace on Germany. As the talks progressed, Wilson was increasingly unable to garner acceptance of his Fourteen Points. Prime Minister Georges Clemenceau. Library of Congress In an effort to appease the American leader, Lloyd George and Clemenceau consented to the formation of the League of Nations. With several of the participants goals conflicting, the talks moved slowly and ultimately produced a treaty which failed to please any of the nations involved. The final terms of the treaty, which included little of Wilsons Fourteen Points on which German had agreed to the armistice, were harsh and ultimately played a key role in setting the stage for World War II.

Business strategy mcdonald Essays

Business strategy mcdonald Essays Business strategy mcdonald Essay Business strategy mcdonald Essay If we all have different receptions of reality then the big question is; do we know real true picture of reality? Reality in accounting is something I believe is very hard for us people to determine. Firstly is that most of the measurement used in the accounting system are arbitrary. How can we know that something which is based on random choice or personal whim, rather than any reason or systems is the truth? Secondly accounting is also based on assumptions. So what is seems like that in accounting there is no such thing as reality. Obviously we couldnt know what is true if methods of accounting are based on arbitrary methods and assumptions. If this is so, then again the big question is; how can accountants communicate reality if we dont know what is reality. A. In the given question, the directors decision on deciding not to life the going concern assumption while the companys performance and position is deteriorating is totally wrong and unethical. The company knew very well that there are people out there who are going to rely on their financial decisions to make very important decisions. Not lifting the going concern assumption will make stakeholders think especially primary users that the companys financial performance and position is going well and healthy when in act its not. In this case the directors are communicating a false reality. B. Well communicating a false reality doesnt mean that also you are creating a false reality. For God. Anything can happen in the future. Revenue might increase as well as sales, profit might increase and the business might again run well. In this case the company is creating a reality. . ) Fiji Sugar Corporation. The Fiji Sugar Corporation is said to be responsible for the pollution of the Aqua River in Labs. The question to ask is whether the Fiji Sugar Corporation (FCC) is really responsible for the pollution of the Aqua River that had resulted in the killing f the marine life. Or is the waste dumped by the FCC in the Aqua River the cause of pollution. It is being evident that the waste dumped by FCC to the river is the direct c ause of the killing of the marine life in the river. ( If]times. Mom) (The Fiji Times, 24/12/08) Last year we took samples from the river and results confirmed that the chemicals were from FCC so this new testing is part of our prosecution process. Mr Kumar Tests result shows that the death of river plants and vaporizing useful gases is the result of a rise in temperature in the river that was caused by hot water being poured into the Aqua River.. All Saints Secondary School students and hundreds of residents beside the river complained of headache as a result of the pollution by FCC. ( If]times. Mom) (Fiji times, 03/09/09) With the evidence given above, can we say that the organization is responsible for the pollution of the Aqua River? Ruth D Hines said that we must not think that the fence of the organization sets the limit or the boundary of the organization. The only thing the fence does is to separate the other people from the organization or to designate it so to speak. Well in terms of pollution, I do agree that the organization is responsible for the pollution. As evident above that the waste dumped by the FCC is the direct cause of the pollution which had an adverse effect on the river, environment and the people. If it wasnt for the organization dumping rubbish into the river there wouldnt have been any pollution. Hines also said that we should account for something that we are accountable for. It would be unethical for FCC not to account for the pollution caused by them. Even though we might think that the pollution is outside of the organizations context but in reality we know that the damage to the environment is directly caused by pollution by the organization. As a conclusion we can say that pollution is very much part of the organization. As it is the direct effect and outcome of the production process of the organization. So Fiji Sugar Corporation should account for the pollution. B. ) The organization is now placing more significance on sustaining a clean environment in particular waste water release from mill operation and air pollution not only for its staff but its stakeholders too. The organization is aiming on the execution of various engineering controls. This will result in the minimization of waste to the environment and by doing this they will e adhering to the Mill Upgrade Program. All mills around the country had formed committees that will observe and address pollution. Annual report 2010). Recognizing revenue in the period or periods that the revenue-generating activities of the companies are performed is the objective of the firm. There are two conditions that needs to be satisfied before revenue can be recognized in the realization principle: 1 . The earnings process is Judged to be complete or virtually complete (the earnings process refers to the activity or activities performed by t he company to generate revenue). 2. There is reasonable certainty as to the collegiality of the asset to be received (usually) (http://connect. McGraw-hill. Mom) Businesses recognize revenues ate different point in time due to a number of reasons: Businesses are different in nature. The activities performed by the companies to generate revenue are differently judged to be complete. It because of these two catteries that revenue are differently recognized. For example revenue from selling of inventory are recognized at the date of sale often interpreted as the date of delivery. This is because at the date of delivery the earnings process is Judged to be complete. For revenue from rendering services are recognized when services are completed and billed.

What characteristics of the opposite gender do heterosexual males and Research Paper

What characteristics of the opposite gender do heterosexual males and females consider most important for sexual and marriage partners - Research Paper Example Many theories have been conceptualized based on the findings of the researches. Cross-cultural evidence proves that men tend to place more value on physical attractiveness while women seek earning potential and possession of resources as valuable traits of potential romantic partners. (Buss et al, 1990). Matlin (2008) explains this gender difference in trait preferences for a partner as based on an evolutionary psychology approach. According to this approach, people’s preferences have roots in evolution where men prefer young, attractive, healthy-looking women who are likely to pass on men’s genes to the next generation. On the other hand, women are drawn to men who are economically stable to ensure that their future children are well provided for (Matlin, 2008). This is consistent with the findings of Sakalli-Ugurlu (2003) where women were found to be more concerned about the future security of their future families than men are. Some have very high standards in their choices that nobody comes to par and they end up alone. Men and women hold different views on mate selection. This study aims to explore those differences, specifically on the traits they hold dear in prospective partners. ... These preference for so-called luxuries are held more by more affluent women in western cultures than women in poorer and more traditional cultures (Geary, Virgil and Byrd-Craven, 2004). Men consistently have admitted their primary preference for a partner’s youth and physical attractiveness as well as a mate’s chastity and sexual fidelity (Buss et al, 2001). This may be explained by the social structural theories. In most cultures, women view marriage as a ticket to material comfort so they search for potential husbands based on their economic potentials and resources. However, as cultures evolve, women have become more empowered in creating their own material abundance through their careers and as they gain economic equality with men, they now focus less on a potential mate’s resources and status and more on aforementioned relationship â€Å"luxuries† such as kindness, honesty and a sense of humor. This theory is backed up by Eagly & Wood (1999) who foun d that the structural features of societies may dictate mate preferences. For example, gender differences in preferences for a mate’s earning potential (men) and homemaking skills (women) may be strongly influenced by the economic status held by men and women in various societies. Following the tradition of large-scale studies of Buss (1990) and Eagly and Wood (1999), Lippa (2007) was likewise engaged in a more modern study involving an internet survey sponsored by BBC, wherein over 200,000 participants ranked their preferred traits in potential mates. The 23 trait choices were age, ambition, communication skills, dependability, domestic skills, face attractiveness, fitness, fondness for children, hands, health, honesty, humor, industriousness, intelligence,

The combaination between delphi and scenario methods in future studies Literature review

The combaination between delphi and scenario methods in future studies - Literature review Example In doing this therefore a variety of models are used. Two basic models are used on which this discussion is going to be based on: the Delphi technique and scenario planning. The Delphi technique and scenario planning The Delphi technique is a kind of survey that makes use of the intuitive knowledge of experts in a given field. This technique is therefore flexible and provides a wide range of both qualitative and quantitative results which are important for planning. The technique involves rounds of surveys in which experts are asked questions concerning a given topic. Their varied opinions are then analysed and extremes are generated. The experts with these extreme opinions are asked to explain the reasons as to why they settled for the opinions (Armstrong, 2001, pp. 127-129). The rounds continue in this manner until a consensus is achieved. Feedback is very important in the whole process which must take place at the end of each round. Scenario planning on the other hand has also rec eived a lot of attention from scholars with very little consensus on the exact meaning of the term. Cutting across the major definitions of scholars it is possible to say that scenario planning is seen as a strategic management tool that is used to describe sets of future environmental conditions which are uncertain and upon which decisions have to be made to address them. However there is a strong agreement among scholars that scenario planning is not a prediction but rather a tool that makes visible the large scale forces that are usually uncertain due to the ever changing nature of the world so that a planner can recognize them and act on them on the verge that they do happen (Lindgren & Bandhold, 2003). Combining the Delphi technique and Scenario planning It is of great importance that before combining the techniques a thorough understanding of the various design approaches is made of both techniques to find out how the Delphi technique can fit into the approach used by the scen ario planning method. The scenario planning method has various approaches and this is because of the various schools of thought that are in existence. The technique actually involves a number of approaches each with stages that range between six and ten. There are three approaches that have been used widely and these are: the intuitive logic, trend impact and cross impact approaches. However later on, the last two approaches were combined by Bradfield et. al (2005) into one method called the probalistic approach and introduced the la prospective school as the third school in scenario planning (Bradfield, 2005, pp. 795-812). A closer examination of these approaches reveals they have varied stages that could be seen to serve the various interests of the authors with very little consensus on what should be the common approach. Each of these approaches is seen to work in the same manner with the other though there exist slight variations. Nowack, Endrikat & Guenther (2011: 1606) in thei r research identify one generic approach that cuts across all the three schools and which was built on the generic foresight approach proposed by Bishop et. al. The approach is divided into six stages for it to be complete and includes two main phases of scenario planning which are: scenario development and scenario transfer. In the first phase the planner sees various states of the future while in

Celebrities from magazines Essay Example for Free

Celebrities from magazines Essay I have chosen to study and research this statement as I believe that the media puts pressure on young girls to conform to to the idealistic images constantly portrayed in the media. Slimming articles along with related television programmed has increased. The number of young girls within this age span that develop eating disorders has increased in the last thirty five years. I feel that the media and its ideal of super slim models and celebrities that dominate the media affect me. I intend to tackle the issue head on and first of all ask the question what is the relationship between the media and eating disorders. Vaughnhan and Fous conducted a study looking at the amount of time that girls were exposed to media and the development of eating disorders. They used 374 girls ranging from 12-14. They were surveyed twice at different times, each being one year apart. The girls were given the same survey both times which contained questions regarding the amount of time they were exposed to fashion magazines and TV. They also included questions that would reveal symptoms of have eating disorders. After obtaining the results from these surveys they were able to com up with some possible conclusions. The results showed that the girls who had increased their exposure to fashion magazines from the first survey to the second had also increased signs of eating disorder symptoms, and visor versa. The evidence from this study suggest that there is a definite link between developing eating disorders and the media. Results also imply that girls become influenced by the media and can develop a complex about their bodies from a young age. From this we can see that media has a direct effect on young girls which could lead to eating disorders. Girls/women predominantly strive to be perceived as attractive to the opposite sex. I want to see if within the last fifty years the ideal body image has changed. Is the ideal woman sown as slim, attractive young etc.? Garner, looked into this when he assed the height , weight and body measurements of Playboy centrefolds and miss America pageants from 1960 to 1979. He found that the percentage of the average weight of the models had decreased. In 1960 the average weight of playboy models were 91% of the average mean, but by 1978 the mean weight of the models had dropped to 84%. It would be interesting to see id this trend continued, from my own observations of women used in the media today, when the normal size for a model is a size 6, I would believe that they had, from looking at various popular fashion magazines. This would suggest that the statement thin is in used in these magazines is true. Both studies suggest that the concept I lay out, that womens ideal shape that they strive to be is directly influenced by the material they read, is very much true.

Symbolism, Imagery, and Theme of The Road Not Taken by Robert Frost Ess

Symbolism, Imagery, and Theme of The Road Not Taken by Robert Frost How can an author effectively convey a universal message to the broadest audience possible? Simple. The author must simply create a completely impartial narrator, devoid of sex, status, or age. The Road Not Taken is a poem told by an impartial narrator who has come to a crossroads in his/her life. The crossroads is represented by a forked path that leads through a forest. The setting is also impartial; the forest is anytime and anywhere the reader desires it to be. The narrator is forced to make a life-decision, thus changing the course of his/her life forever. Symbolism and imagery are used effectively to reinforce the main theme of the poem.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   One instance of symbolism in the first stanza is "And looked down one as far as I could / To where it bent in the undergrowth;".   This symbol shows to me that the person who needs to make this life decision is trying to peer into the future to see what the outcome would be if he takes a certain path.   Ã‚  He cannot see past the immediate future, hence the ref...

Decision Making Stages Essay

Decision making (decision from Latin decidere â€Å"to decide, determine,† literally â€Å"to cut off,† from de- â€Å"off† and caedere â€Å"to cut†) can be regarded as the mental processes (cognitive process) resulting in the selection of a course of action among several alternative scenarios. Every decision making process produces a final choice.[1] The output can be an action or an opinion of choice. * | Decision making stages Developed by B. Aubrey Fisher, there are four stages that should be involved in all group decision making. These stages, or sometimes called phases, are important for the decision making process to begin Orientation stage – This phase is where members meet for the first time and start to get to know each other. Conflict stage – Once group members become familiar with each other, disputes, little fights and arguments occur. Group members eventually work it out. Emergence stage – The group begins to clear up vague opinions by talking about them. Reinforcement stage – Members finally make a decision, while justifying themselves that it was the right decision. It is said that critical norms in a group improves the quality of decisions, while the majority of opinions (called consensus norms) do not. This is due to collaboration between one another, and when group members get used to, and familiar with, each other, they will tend to argue and create more of a di spute to agree upon one decision. This does not mean that all group members fully agree — they may not want argue further just to be liked by other group members or to â€Å"fit in†.[12] Q2 A management information system (MIS) is a system that provides information needed to manage organizations effectively. Management information systems are regarded to be a subset of the overall internal controls procedures in a business, which cover the application of people, documents, technologies, and procedures used by management accountants to solve business problems such as costing a product, service or a business-wide strategy. Applications of MIS ———With computers being as ubiquitous as they are today, there’s hardly any large business that does not rely extensively on their IT systems. However, there are several specific fields in which MIS has become invaluable. Strategy Support While computers cannot create business strategies by themselves they can assist management in understanding the effects of their strategies, and help enable effective decision-making. ï  ¶ MIS systems can be used to transform data into information useful for decision ma king. Computers can provide financial statements and performance reports to assist in the planning, monitoring and implementation of strategy. MIS systems provide a valuable function in that they can collate into coherent reports unmanageable volumes of data that would otherwise be broadly useless to decision makers. By studying these reports decision-makers can identify patterns and trends that would have remained unseen if the raw data were consulted manually. ï  ¶ MIS systems can also use these raw data to run simulations – hypothetical scenarios that answer a range of ‘what if’ questions regarding alterations in strategy. For instance, MIS systems can provide predictions about the effect on sales that an alteration in price would have on a product. These Decision Support Systems (DSS) enable more informed decision making within an enterprise than would be possible without MIS systems. Q3 Information Resources Management (IRM) is an emerging discipline that helps managers assess and exploit their information assets for business development. It draws on the techniques of information science (libraries) and information systems (IT related). It an important foundation for knowledge management, in that deals systematically with explicit knowledge. Knowledge centres often play an important part in introducing IRM into an organization. Identification:- * Identifies gaps and duplication of information * Clarifies roles and responsibilities of owners and users of information * Provide costs saving in the procurement and handling of information * Identifies cost/benefits of different information resources * Actively supports management decision processes with quality information Development :- 1. Understand the role of Information. Information can add value to your products and services. Improved information flows can improve the quality of decision making and internal operations. Yet many managers do not fully understand the real impact of information – the cost of a lost opportunity, of a poor product, of a strategic mistake – all risks that can be reduced by using the appropriate information. 2. Assign Responsibility for Leading your IRM Initiative. Developing value from information resources is often a responsibility that falls between the cracks of several departments – the user departments in different business units, and corporate planning, MIS units or librarians.. 3. Develop Clear Policies on Information Resources Policies for ascertaining information needs, acquiring and managing information throughout its life cycle. Pay particular attention to ownership, information integrity and sharing. Make the policies consistent with your organisational culture. 4. Conduct an Information Audit (Knowledge Inventory). Identify current knowledge and information resources (or entities), their users, usage and importance. Identify sources, cost and value. Classify information and knowledge by its key attributes. Develop knowledge maps. As knowledge management gains prominence, this is sometimes called a knowledge inventory â€Å"knowing what you know†. 5. Link to Management Processes. Make sure that key decision and business process are supported with high leverage information. Assess each process for its information needs. 6. Systematic scanning. Systematically scan your business environment. This includes the wider environment – legal and regulatory, political, social, economic and technological – as well as the inner environment of your industry, markets, customers and competitors. Provide selective and tailored dissemination of vital signs to key executives. This goes beyond the daily abstracting service provided by many suppliers. 7. Mix hard/soft, internal/external. True patterns and insights emerge when internal and external data is juxtaposed, when hard data is evaluated against qualitative analysis. Tweak your MkIS system to do these comparisons. 7. Optimize your information purchases. You don’t have to control purchasing, but most organisations do not know how much they are really spending on external information. By treating consultancy, market research, library expenses, report and databases as separate categories, many organisations are confusing media with content. 8. Introduce mining and refining processes. Good information management involves ‘data mining’, ‘information refining’ and ‘knowledge editing’. You can use technology such as intelligent agents, to help, but ultimately subject matter experts are needed to repackage relevant material in a user friendly format. One useful technique is content analysis, whose methods have been developed by Trend Monitor International in their Information Refinery, and are used in our analysis services. The classifying, synthesising and refining of information combines the crafts of the information scientist, librarian, business analyst and market researcher/analyst. Yet many organisations do not integrate these disciplines. 9. Develop Appropriate Technological Systems Continual advances in technology increase the opportunities available for competitive advantage through effective information management. In particular, intranets, groupware and other collaborative technologies make it possible for more widespread sharing and collaborative use of information. Advances in text retrieval, document management and a host of other trends in knowledge management technologies have all created new opportunities for providers and users alike. 10. Exploit technology convergence. Telecommunications, office systems, publishing, documentation are converging. Exploit this convergence through open networking, using facilities such as the World Wide Web, not just for external information dissemination but for sharing information internally. 11. Encourage a Sharing Culture Information acquires value when turned into intelligence. Market Intelligence Systems (MkIS) are human expert-centred. Raw information needs interpretation, discussing and analysing teams of experts, offering different perspectives. This know-how sharing is a hall-mark of successful organisations. Q4 Mis use in financial management: Management Information Systems (MIS) in Finance have been widely adopted both by corporations as well as governments. They are information systems with capacity to maintain large data bases enabling organizations to store, organize and access financial information easily. 1. General Ledger * The main use of a management information System (MIS) in finance is that it automatically updates all the transactions in the General Ledger. The General Ledger is the core component of all financial information systems. Financial transactions are simultaneously posted on the various accounts that comprise the organization’s â€Å"Chart of Accounts†. Simultaneous updating of accounts such as sales, inventory and accounts receivable, reduces errors. It also provides an accurate and permanent record of all historical transactions. Cash Management * Cash flow management is an important use of MIS in Finance. Cash Management refers to the control, monitoring and forecasting of cash for financing needs. Use of MIS in Finance helps companies track the flow of cash through accounts receivable and accounts payable accurately. Accurate records also help in monitoring cost of goods sold. This can help pin point areas that eat up cash flow such as inventory costs, high raw material costs or unreliable sales. * Sponsored Links * CFP Certification course ICICIdirect experts help you become a Certified Financial Planner.Apply www.icicidirect.com/CFP Budget Planning * Financial budget planning uses proforma or projected financial statements that serve as as formal documents of management’s expectations regarding sales, expenses and other financial transactions. Thus financial budgets are tools used both for planning as well as control. MIS in finance helps organizations evaluate â€Å"what if† scenarios. By modifying the financial ratios, management can foresee the effects of various scenarios on the financial statements. MIS thus serves as a decision making tool, helping in choosing appropriate financial goals. Financial Reporting * The use of MIS systems in Finance enables companies to generate multiple financial reports accurately and consistently. Generation of financial statements both for internal reports as well as for shareholder information takes less effort because of the automatic updating of the General Ledger. Compliance with Government regulations as well as auditing requirements is also easier because the records are accurate and provide a permanent historical map of transactions that can be verified. Financial Modeling * A financial model is a system that incorporates mathematics, logic and data in the form of a large database. The model is used to manipulate the financial variables that affect earnings thus enabling planners to view the implications of their planning decisions. MIS in Finance enables organizations to store a large amount of data. This helps managers develop accurate models of the external environment and thus incorporate realistic â€Å"what if† scenarios into their long-range planning goal. PRODUCTION MANAGEMENT: Production means transformation of Raw materials into finished products for sale. According to E. L. Brech, â€Å" Production Management is the process of effective planning and regulating the operations of that section of an enterprise which is responsible for the actual transformation of materials into finished products†. 1.Statergic planning 2 tactical planning 3 operational procedure. Q5 computer programs that are derived from a branch of computer science research called Artificial Intelligence (AI). AI’s scientific goal is to understand intelligence by building computer programs that exhibit intelligent behavior. It is concerned with the concepts and methods of symbolic inference, or reasoning, by a computer, and how the knowledge used to make those inferences will be represented inside the machine. Of course, the term intelligence covers many cognitive skills, including the ability to solve problems, learn, and understand language; AI addresses all of those. The Building Blocks of Expert Systems Every expert system consists of two principal parts: the knowledge base; and the reasoning, or inference, engine. The knowledge base of expert systems contains both factual and heuristic knowledge. Factual knowledge is that knowledge of the task domain that is widely shared, typically found in textbooks or journals, and commonly agreed upon by those knowledgeable in the particular field. Heuristic knowledge is the less rigorous, more experiential, more judgmental knowledge of performance. In contrast to factual knowledge, heuristic knowledge is rarely discussed, and is largely individualistic. It is the knowledge of good practice, good judgment, and plausible reasoning in the field. It is the knowledge that underlies the â€Å"art of good guessing.† Knowledge representation formalizes and organizes the knowledge. One widely used representation is the production rule, or simply rule. A rule consists of an IF part and a THEN part (also called a condition and an action). Example: Robotics Use of robots: for example, in industry, health, warfare, airlines, space, underwater exploration Q6 An integral part of any eBusiness system is its database. However, an advanced study of implementing databases is beyond the scope of this course. Here, for now, we are concerned with understanding the role that a database plays in an ebusiness system and in gaining an appreciation for the relational approach to managing data. A relational database turns raw data into persistent structured collections of information. In addition to managing information a database defines the relationships within an ebusiness system. The MIS is supported by database in its endeavor to support the management in decision making. The database models be it the NDBM, the HDBM or the RDBM, play the same role in the MIS. With the latest computer hardware and software capabilities the RDBMS have become popular. The concept of the end user computing can be implemented easily with the database approach to the information system. With the database approach, considerable data processing efforts, which were spent in the approach of the conventional system, are saved. The data is made independent of its application. The MIS designs have become more dependable due to the database and the SQL. The rigidity of the design is replaced by the flexibility of the design. It is now possible to review the applications more frequently from the point of view of utility and have them modified, if necessary. The database has strengthened the foundations of the MIS due to the following: * The database can be evolved to the new needs of the MIS. * The multiple needs can be met with easily. * The data design and the output design is flexible * Open system design of the MIS is possible. * The query handling becomes easier due to the Standard SQL. * User-friendly end user computing is possible. * The data is freed from its ownership and its use has become universal. * The Information Technology provides tools to handle distributed multiple databases making the MIS richer.