YO PEOPLE!

I WONDER DO YOU PEOPLE STILL VISIT THIS BLOG?

Yvonne misses everybody! =(

Unemployment

Definition

- For those individual who are working age, available for work at a certain wages but there are unemploy which do not have the current job.

- Unemployment rate can be calculate by the unemployment/labour force = % of unemployment rate.

Causes of Unemployment

3 causes

(i) Cyclical Unemployment

- it affect by the business cycle fluation.
- The Unemployment rises sharply whn the GDP falls and decrease when the real GDP growth rapidly.
- Cyclical Unemployment rises during the GDP falls or growth at a slower than normal rate and decrease whn the economy improves.

(ii) Frictional Unemployment

- occurs during natural working economy.
- For examples, move to other countries, people change job, seek for better opportunity and get lain for the current job.
- Improving the new information will effect informing workers of other opportunities in the economy and thereby will leads the employess to wuit the current job. Frictional Unemployment also known as search unemployment.

(iii) Structural Unemployment

- occurs because of the mistmatch between the job that are available and the skills of the workers.
- Workers whose skills do not match with the employment oppurtunity in their area may be unemployment.
- Re- skilling and other training and devlopment program may help to reduce the problem faced.

What is Natural-rate of Unemployment?

- Natural- rate of employment refers to the absence of the cyclical unemployment where it only consists of fractional unemployment and structural unemployment.

What are the causes of unemployment?

(i) economic waste
(ii) Severe hardship
(iii)Loss of goverment revenue

Comparative Advantage

Definition

- A principal based on the assumption that an area of specialize of goods and service that have the greates advantage or the lowest opportunity cost.

- Each individual will try to concentrade on their own activities business for which his opportunity cost is the lowest.

- By concentrating on those task which are most prodcutive and more can be produce vastly rather thn we try to be self-suffcient.

Sources of Comparative Advantage

- It can be devided into 2 level
(i)Individual level
(ii) National Level

- At the individual level, there is often appearce to be the result of inborn talent. This can be showned from the educational level, experience and training.

- From the national level, the comparative advantage can be deserved from the culture and society.

- The non- economic factor is the use of the english language a high standard of craftmanship.

- Besides that for those who do not have specialization, that are required to work in a long hours and accept the low wages.

- The same logic that leads the individual to specialise and exhange goods and services among themselves also can applied to the countries on specialize and trend among each another.

- While reducing the barriers of intenatinal trade, it will leads to the total increased of total value production and services to the nation. But it can guarentee all the citizen will be benefit from the situation.

- For example, the emerging of the economic growth can exploit the comparative advantage in the production by the unskilled employees.

What are the benefit of trade?

- Economist compare the local current price with other countries. This price prevailing in world market know as the world price.

- When the world price is higher thn the dosmestic price, the domestic economy has a comparative advantage.

- Once free trade is allow, the domestic price will rise up and equal the world price.

How can we increase the trade?

3 way
(i) Expand the volume of trade with developed countries
(ii) Foregin aid-agent/ loans from the goverment of advance nation
(iii) Encourage private capital flows

Elasticity

Definition
- the percentage changes in the quantity demanded over the percentage of the determinant that caused the changes in the above quantity.

- There are four type of elasticity:

(i) Price Elasticity Demand (PeD)

(ii) Price Elasticity of Supply (PeS), =1 unit elasticity, >1 Elastic where quantity supply is relatively responce to the changes of price and < 1 is inelastic where the quantity supply is non relative to the changes of price.

(iii) Cross Elasticity of Demand (CeD), >1 refers to Substitude goods, <1 refers to Complimentary goods.

(iv) Income Elasticity of Demand (Yed), >1 refers to Normal Goods and <1 refers to Inferior Goods.

Cost Curve/ Revenue Curve

- It is a graph of cost of production as a function of the quantity demanded.

- In a free market economy, the productive firm will use the cost curve to find out the optimal point of production, where they are able to find out the maximum point of profit.

- Diminishing return scale. It refers to the marginal product of each unit will decline as the amount of the input increases whn holding all the other input stays constantly.

- In the cost curve, it have showned in 2 ways which are the Short-run Cost Curve (SRAC) and Long-run Cost Curve (LRAC). SRAC only consists of the variable and fixed cost whereas the LRAC consits all the consts.

- MC (Marginal COst) rises with a quantity of output.

- ATC curve is in U-shaped and the MC curve crosses the ATC as its minimim.

- LRAC can be divided into 3 scale.
(i) Contant Return to Scale (The proportion increased of the input may increasing the outputs in the same proportion).
(ii) Increasing Return to Scale ( Output may incresed greater proportion thn the input use)
(iii) Decreasing Return to scale ( Output may increase lesser proportion thn the input use)

Discussion Board

Lets have a discussion board area for economic =)

Love,
Jasmine

Updated Information for FIT =)

1. Communication VS information technology
2. WWW. VS Internet
3. Client VS Server
4. Computer Operation
5. Data VS Information

(Tips from Question 1 -5, all located in chapter 1)

6. Digital Representation Schemes (pg 2-2)
7. Number Convesion - decimal to binary, bineray hexadecimal(pg 2-2)

(Answer found in Chapter 2)

8. Vertical VS Horizontel Software (pg 3-2)
9. GVI (is GUI not GVi, pg3-3)
10. Operating Systems (pg 3-12 to 3-13)

( Question 8-10, aswer found in chapter 3. FYI, is not instead of GVI, it is GUI..)

11. Advantages of Database (pg 4-3)
17. Types of e-commence (pg 4-13)

(Answer found in chapter 4)

12. Compression and types of Compression (pg 5-5)
13. Networks - Why? (pg 5-6 to 5-7)
14. Topologies ( pg 5-12)

(Answer found in chapter 5)

18. URL (pg 6-4)
19. Web-portals (pg 6-4)
(answer found in chapter 6)

15. DSS, TPS, MIS, Expert System, ESS (pg 7-2)
16. SOLC (pg 7-3 - 7-10)

(Answer found in chapter 7. Instead of SOLC, it is SDLC)

Economy Exam Tips

1. Money, Prices, Banking & Interest : )
2. Inflation --> monetary policy (6-12 onwards to end of chapter) :(
3. Cost Curves / Revenue Curves : )
4. Comparative Advantage : )
5. Demand- Pull Inflation : (
6. Elasticity (calculation) : )
7. Fiscal Policy (How gov't can use this?) : )
8. Employment / unempoment : (


any question can email Mogan : moganswamy@gmail.com

FIT Exam Tips

1. Communication VS information technology
2. WWW. VS Internet
3. Client VS Server
4. Computer Operation
5. Data VS Information
6. Digital Representation Schemes
7. Number Convesion - decimal to binary, bineray hexadecimal
8. Vertical VS Horizontel Software
9. GVI
10. Operating Systems
11. Advantages of Database
12. Compression and types of Compression
13. Networks - Why?
14. Topologies
15. DSS, TPS, MIS, Expert System, ESS
16. SOLC
17. Types of e-commence
18. URL
19. Web-portals

EXAM FINISH!

Finally exams are over! Now we can enjoy our CNY! =) Went out for dinner at Shabu-Shi after the last exam and every one of us is present. =D Photo please check it out in facebook!

More outing please! Tell me when you guys want come my hse okie? =D

Loves,
Yvonne

Ratio Tips (Sorry for late posting)

Gross Profit Margin --> GP/Sales x 100 = ? %

Net Profit Margin --> Net Profit B4 Tax/Sales x 100 = ? %

Current Ratio --> CA/CL (Ideal ratio is 2:1)

Quick Ratio --> (CA - Stock - Prepayment) / CL (Ideal ratio is 1:1)

Stock Turnover(In days) --> [Average stock(Opening + Closing)/2] / C.O.G.S x 365 days = ?%

Stock Turnover(In Times) --> Cost of sales / Avg Stock

Debtor Turnover(In days) --> [Average Debtors (Opening + Closing)/2] / Net Credit Sales x 365 = ? days

Debtor Turnover (In Times) -->Net Credit Sales / Avg Debtors

Creditor Turnover(In days) --> [Average Creditors/2] / Net Credit Purchases x 365 = ? days

Creditor Turnover(In Times) --> Credit Purchases / Avg Creditor

Earning Per Share...Teacher say dun need,but dunno y in qns,maybe u like to memorise too...
Net Profit After Tax / No. of Ordinary Shares

DADDY FORCE ME TO POST THIS UP!~

Biographical Characteristics



AGE:

major consideration because most company will think that old people cannot perform well in their job but there is no evidence showing that older workers are not productive in their work.



advantages of older worker are lower turnover rate and they are more likely to stay at their job because they need to support their family. there's a commitment & of course they are use to what they are doing already, so they are resistant to change because of habit. but not to forget, older workers are more loyal to their jobs.


disadvantages of older workers, they are less receptive to new ideas.

ability:
idividual's mental and physical capacity to perform on a job.

intellectual abilities:
perform mental activities, e.g. data processing and strategic planning

physical abilities:
required tasks to do jobs demanding physical strength, stamina and skill

the ability-job fit:
selection and recruitment process to fish out the most likely candidates for a certain position of the job.

gender:
difference in abilities between men and women.
e.g. men can carry heavy things whereas women cannot

marital status:
married couple last longer in jobs and have less turnover and absentee rates, and have greater job satisfaction.

tenure:
seniority in a job.

Theory X and Y

Douglas McGregor proposes two alternative sets of assumptions that manager hold about human being: Theory X is negative; Theory Y is positive.

Theory X assumes:

• most people dislike work
  
• less responsibility
• prefer to be directed
• motivated by financial incentives
• must be closely supervised, controlled

Theory Y assumes:

• people enjoy working
  
• responsibility
• do not like to be controlled
  
• motivated by desire
• autonomy

When employees are new, they have to be supervised closely to ensure their jobs are able to function, and prevent employees backslide into poor performance. In such situation, Theory X should be invoked.

Theory Y can be employed when employees respond to motivation, training, show initiative and commitment and are able to function without much supervision.

Nonverbal Communication / Other communications in organizations

Nonverbal Communication
Simply stated, nonverbal communication is speaking without words.
It can expressed by body languages, dress, time, space and material things.

Body language:
body language such as gestures, body movements, facial expressions are important to communication because it can conveys around 55% what we are communicating.

Dress Style: Communicating by appearance
Dressing appropriately communicates a lot of our competencies and us.

Time: the waiting game
The longer you have to meet someone, the higher the organizational status he or she commands in the organization.

Space:
The greater space one commands, the more powerful he or she is likely to be in the organization. Such as size of office room, personal parking space.

Symbols and facilities:
Normally the higher status person in organization, the better facilities and benefits. E.g. he/she may has latest version computer, luxury of the company-sponsored car etc..

Max Weber (Bureaucratic Culture)

Bureaucratic Culture
1. emphasis on roles and procedures
2. new ideas are often dismissed
3. roles are precisely defined
4. hierarchical structure
5. Stability and experience are valued highly
6. Command and control appear to be the dominant processes
7. Almost difficult to change the mindset

an Adventurous Culture is characterized by:
1. Emphasis on taking advantage of new opportunities
2. New ideas are welcome
3. Motivation, initiative, creativity and innovation are valued
4. Employees are allowed autonomy
5. Flat and flexible structures
6. Mindset and policies are changed in response to opportunities

Communication : Men & Women

Big 5 models

E.... a CEO!

Extraversion- Sociable, gregarious, talkative and assertive.

Agreeableness- good natured, cooperative and trusting.

Conscientiousness- responsible, dependable, persistent, reliable, organised and achievement oriented.

Emotional Stability- Calm, self-confident, enthusiastic, secure, able to withstand stress.

Openness to experience- imaginativeness, artistic ability, and sensitivity. They are curious and creative.

Functions of Culture

1. It creates boundary between one organisation with others.
   
   
2. It conveys a sense of identity for employees.
   
   
3. It generates employee commitment to the organisational mission, vision and goals.
   
   
4. It enhances social system stability.
   
   
5. It shapes organisational behaviour and standards for guide employee what should say and do.
   
   
6. It guides and shapes the attitudes and behaviour of employees.

Organisational Culture

What is Organisational Culture?
Every organisation is unique. Even if two organisations are identical in size, structure, product range and strategy, each will be different by its unique features.
Simply put, organizational culture is "The way we do things around here"

"Dimensions of culture"
pls remember "POST AIA"

People Orientation- The degree to which management is fair , respectful of individual right, supportive to employees' efforts.

Outcomes Orientation- The degree to which management focuses on results.

Stability- The degree to which organisation activities emphasis maintaining status quo in contrast to growth.

Team Orientation- the extent to which work activities are organised around teams rather than individuals.

Attention to detail-The degree to which employee are encouraged to exhibit precision, analysis and attention to datail.

Innovation and risk taking- The degree to which employees are encouraged to take risk, be innovative and opportunistic.

Aggressiveness or Easygoingness- The degree to which employees are aggressive and competitive rather than easygoing, cooperative, tolerant, calm, and reflective.

Bases of Power

pls remember "ceil rr" , ceil=ceiling


Coercive Power- This depends upon fear. Some organization will charge penalty in late payment. A manger can withhold bonuses and pay increments, and right to demote or dismiss employees.

Expert Power- This kind of power is wielded by person who has unique skills, expertise, knowledge, experience and abilities. Person with such skills have acquired more power in organization.

Information Power-This Power is based on information that is not public knowledge. People who possess information power can make others dependent upon them

Legitimate Power-This kind of power is based on position and exists because people believe a person has the legitimate right to influence them. A manager is vested with legitimate power over his subordinates.

Reward Power-Reward Power is the opposite of Coercive Power. In organization, this means promotions, bonuses, etc. If someone can give something better to organization, then he has reward power.

Referent Power- (don't know la...forget it.. haha...)

Strategies of Stress Management

Actually this is quite easy, bcos whatever answers also available and that's no actual right or wrong answers, just make sure the way you mentioned can work..


1. Become aware of your stressors
Notice your distress , determine what distress you. (exam, task, car, lover, no money...)

2. Recognize what you can change
Can you avoid the stressors? Can you reduce them? (take a break, adjust time schedules, use less money.....)

3. Reduce emotional reactions to stress
Try to temper your excess emotions, put the situation in perspective.

4. Moderate physical reactions to stress
Slow, deep breathing can help you to relax.. learn to moderate the reactions is a preferable long-term solution.

5. Build your physical reserves
Exercise 3-4 times a week (walking, swimming)
Get enough sleep, mix leisure with work, take break & get away when you can

6. Maintain your emotional reserves
Develop some mutually supportive friendships
Set meaningful goal to yourself
Expect some frustrations, failures, and sorrows

Sources of Stress (SET B tips)

Potential Sources of Stress

pls remember "ROTI SOE"


Role Demands- relate to role in job, people experience role overload when they are expected to do more than time permits.

Organisational Factors- Pressure to avoid errors, work overload, demanding & insensitive bosses

Task Demands- related to a person's job like working condition

Individual Factors- factors in employee personal life such as family issue, personal economic factors

Stressors are additive- One stress may not be harmful. It is total sum of "opportunity stress", "constraint stress" and "demand stress" impact on individuals.

Organisational Structures- Excessive rules can lead to stress. E.g. define the level of differentiation in organisation, rules and procedures

Environmental Factors- economic uncertainties, political instability and fast technological improvement factors can induce stress.

Organisational Behavior Exam Tips

SET A

1. Big 5 Model (Pg3.2)
* Tips to memorize the 5 model*
- A CEEO/EA CEO

2. Douglas McGregor (Pg4.5-Pg4.6)

3. Biographical Characteristics (Pg1.2-Pg1.3)

4. Culture - Seven Dimension (Pg6.1)
- Function (Pg6.3)

5. Perception - Determinents (Pg2.1-Pg2.3)
- Selective Perception (Pg2.5)

6. Bases of Power (Pg7.3-Pg7.4)

7. Stress Management (Pg11.1&Pg11.3)

8. Communication - Men
- Woman
(Pg9.7 + Teacher lecture note *the comaprison between Men and Woman*)

SET B

1. Errors in Social Perception (Pg2.5)

2. Abraham Maslow (Pg4.2-Pg4.4)
Clayton Aldorfer (Pg4.7 & 4.20)

3. Non-Verbal Communication (Pg9.6-Pg9.7)

4. Traits-theory (Pg8.1-Pg8.2) *Table*

5. Attitudes/Cognitive Dissonance (Pg 2.7)

6. MaX Weber (Pg 6.7)
Dysfunctional Aspects (Pg6.3-Pg6.4)

7. Personality Determinents (Pg3.1-Pg3.2)
EQ (Pg3.5)

8. Stress - Sources (Pg11.2-11.3)
- Strategies (Pg 11.5-Pg11.6)


Jiayou for all.....=)!!! Althought I'm bad soemtime refuse to post it up....But at last i will do it for u guys toooooo =)

Love ya
Jasmine

Accounting Exam Tips

Choose 5 questions to do only.

1: Trading, Profit & Loss and Balance Sheet

(Unit 3 - Trading, Profit & Loss, Example/Format on Page 3-14 & 3-15)

(Unit 4 - Balance Sheet, Example/Format on Page 4-6 & 4-7)

2: Pure Theory Question

(Unit 2 - 2.2, 2.3 & 2.4)

2.2 (Page 2-2) Different Sources of Finance:-

3.0 (Page 2-3) Types of Long Term Debt Financing

(i) Hire-purchasing financing
(ii) Lease financing
(a) Financial lease
(b) Operating lease
(iii) Term Loans
(iv) Bond and Debenture issues
(v) Preference shares
(vi) Ordinary shares

4.0 (Page 2-4) Internal and External Financing

(i) Internal Financing
(ii) External Financing

3: Identify Capital and Expenditure
(Unit 3, Page 3-13)

4: Financial Ratio
(Unit 5, Page 5-2 to 5-8)

(i) Profitability Ratios
(a) Gross Profit Margin
(b) Net Profit Margin
(c) Rate of return on investment
(d) Rate of return on assets

(ii) Liquidity Ratios
(a) Current Ratio
(b) Quick Ratio/Acid Test Ratio

(iii) Efficiency Ratios
(a) Stocks Turnover
(b) Debtors Turnover
(c) Creditors Turnover
(d) Fixed Assets Turnover

(iv) Gearing Ratios
(a) Debt to Total Asset Ratio
(b) Capital Employed to Total Indebtedness
(c) Interest Cover Ratio
(d) Capital Gearing Ratio

(v) Investment Ratios
(a) Earnings per share
(b) Price Earnings Ratio
(c) Dividends Per Share
(d) Dividends Payout Ratio

* 4 marks on comments.

5: Depreciation, Straight line & Reducing Balance
(Unit 4, Page 4-3)

6: Marginal Costing
(Unit 10, Page 10-1 to 10-14)


7 & 8: Determine whether to drop a product. Profitable or Non-Profitable.
(Unit 9 and Unit 10)

Jiayou!!

-Yvonne