Environmental issues Essay Example | Topics and Well Written Essays - 500 words

Natural issues - Essay Example There are numerous fundamental foundations for the raise in the concoction squanders which has prompted the quest for techniques to arrange this waste. The populace around the world has expanded at disturbing levels and with expanded number of individuals; the measure of the creation of compound squanders has additionally expanded. Another indispensable explanation behind this expansion in the compound squanders is the development of the individuals to urban areas and with expanded urbanization there has been expanded waste creation. The ventures over the globe have additionally expanded and with more noteworthy creation in the enterprises, more prominent measure of waste is produced. New advances have prompted the creation of significantly increasingly poisonous substances. This incorporates atomic force which prompts the creation of poisonous waste items and their removal prompts the creation of perilous substances for the earth. Compound squanders are created from coal mineshafts just as emergency clinics and exploration associations (Geophysics Research Forum 1984; Murray et al 1982). There have been many proposed answers for the subject of compound waste. A generally excellent technique was introduced by the Geophysics Study Committee which was profound entombment.

Ship Visit free essay sample

The reason for the tow commendable overview was to guarantee that every single free thing on the freight boat are made sure about to have the option to withstand the powers that could be experienced on the ocean entry and that both the pull and canal boat were ocean commendable. The assessor took adjusts day by day to view the current conditions and to diagram his desires/necessities. The Fortuna had been in ZPMC shipyard since December 2010, for the fitting of another stinger, and because of the long term of remain in dry-dock the degree and volume of work required for the ocean making sure about was very huge. Each grapple additionally has a towing flag and a barrel shaped float for the AHT to recuperate and put the stay at the following arranged area. The areas and design of the grapples are all pre-arranged. The underneath pictures give a concise thought of the channel laying system: 1. Channel stockpiling territory on primary deck and first funnel laying terminating line. We will compose a custom article test on Boat Visit or on the other hand any comparable point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Channel laying exhibition. Funnel laying terminating line on primary deck. Stay bouys. Grapples. Principle deck zone for pipe stockpiling. 2. Passage of channel into pipe laying display. 3. From this track the channels are on a level plane moved onto the fundamental funnel laying terminating line. 4. Beginning of funnel laying terminating line in pipe laying display. 5. Funnel laying terminating line in pipe laying display. 6. Tensioners/pipe clipping sets (2 ) numbers are situated toward the finish of the channel terminating line, their motivation being to consistent and adjust the funnels earlier being brought down onto the ocean bed. 7. Exit from tensioners onto stinger. 8. The funnel laying display additionally has a 250T winch, which is intended for the recuperation of channel from the ocean bed to initiate new associations or to set out a fixed channel association on the oceans bed if tasks are stopped state because of state awful climate. 9. Stay winches. 10. Stay wire sheave gatherings on fundamental deck. 11. Recessed territories for stay wire sheave gatherings on principle deck. 12. (6) nos pipe recuperation winches on starboard primary deck implied for recuperation of funnel segments needing fixes. Recuperation winch. Rich Constant: Post Constant is the AHT that will tow the Fortuna to the task site and furthermore work with her on the venture throughout the following (2) months, photos of the pull as joined. 1. Opulent Constant 2. Elegant Constant back view. 3. Towing association. 4. Tiger wire Towing association. Fundamental towing wire 5. Towing association. 6. Towing association. Last Departure

How to Implement a Feedback Culture in Your Company

How to Implement a Feedback Culture in Your Company The way you handle feedback tells a lot about your character and being able to learn from both positive and negative feedback is crucial for success. As well as being an important part of personal development, a strong feedback culture can also help companies and organisations to grow.But a great feedback culture doesn’t just happen â€" it must be implemented and fostered. It can be a bit tricky to get it right and you won’t be able to change the organisation’s feedback culture overnight. But once you get started, the benefits are going to be evident immediately.Here is a look at the benefits a strong feedback culture can provide for your business and the steps you need to take to create it. You’ll also learn the key characteristics of a great feedback culture to guarantee your organisation makes the most of its employees. © Shutterstock.com | Rawpixel.comIn this article, we will explore 1) why a great feedback culture is important to a business, 2) the steps to take to encourage feedback and create feedback culture in company, and 3) some  final thoughts.WHY A GREAT FEEDBACK CULTURE IS IMPORTANT TO A BUSINESSIt is easy to wonder whether a strong feedback culture is important to determine how your business operates. If the overall job satisfaction is above average, why should managers care about implementing a feedback culture?The truth is there are plenty of benefits for having a strong feedback culture. If both employees and the employer are able to provide constructive feedback on what is going on, the organisation and the employee will feel more rewarded.A recent infographic by the Officevibe found that employee dissatisfaction rate has increased in recent years. In fact, nearly 40% of employees feel they aren’t appreciated at the workplace. This leads to active disengagement from the job. Four out of ten employees admit they aren’t engaged actively at work if they don’t receive any feedback. Without a good feedback structure, people tend to start self-regulating and often end up being much more critical towards the work they do. By providing feedback, you are essentially providing more guidance for the person.According to the evidence, as soon as you implement a feedback culture that works, employee satisfaction goes up. By focusing more on the strengths of the specific individual, managers can improve employee engagement by nearly 30 times. Well over 40% of employees who obtain regular feedback say they are highly engaged with work.This is mainly to do with helping to clarify the person’s position in the business. With regular feedback, it is much easier to clarify the person’s role in the organisation and to ensure they are aware of the tasks and responsibilities of the job. It can also help clarify how the employee’s input is affecting other people.Acknowledg ement of employees’ hard work and input will help them stay on the right track and it gives them that extra bit of motivation. 78% of employees in the survey felt they are more motivated when recognised by managers.Feedback isn’t just a managers’ way of telling off workers â€" employees themselves want to be told how they can improve. 65% of the survey’s respondents said they want more feedback, although only 58% of managers felt they provide enough feedback.Furthermore, a strong feedback environment also helps to improve and develop the company. Your employees often have the best insight into how your company operates and a strong feedback culture can make it easier to pinpoint areas that require development. In fact, companies with strong feedback culture tend to have a better financial performance.Finally, one of feedback culture’s strengths is the ability to solve problems. If you have a big project coming up, it is better to continuously evaluate the effort and see wh at works and what doesn’t, rather than to go through the project first and then analyse what worked. Small problems and issues in employee satisfaction could quickly turn into a bigger problem. As the old saying goes, “it is better to fix the roof while the sun is shining”.THE STEPS TO TAKE TO ENCOURAGE FEEDBACK CULTURE IN COMPANYFeedback has plenty of benefits for any business, but it won’t come about without effort. You cannot suddenly add more feedback to your organisational structure, as you need to create the right environment for feedback to flourish.So how to go about implementing a stronger feedback culture? Here are the key steps you should take in order to encourage feedback.Step 1. Creating a regular system for feedbackThe first thing to do is make sure you have a regular system in place for feedback. You don’t want feedback to be a side thought or something that only happens when you happen to think about it. Feedback must become an integral part of how your bu siness operates.The most successful feedback cultures are the ones where feedback is part of the organisational structure. You might have times when there isn’t much feedback to give, but you still want to have a system in place. As mentioned above, feedback can help you solve issues before they turn into problems.As you’ll find out later on, you want to make sure the feedback system is part of your business operations. Of course, it doesn’t necessarily mean you need to have a regular daily feedback session, but you do need feedback to be part of your operations â€" whether as weekly meetings or even daily conversations.Step 2. Making it secure and safeOnce you have a regular feedback routine in place, you need to focus on efforts that make the system feel safe and secure. You don’t want the feedback moments feel forced and your employees should never feel like they are harassed into giving feedback.Furthermore, it is crucial employees feel safe to give honest feedback. Ther e is no point in having a feedback system in place if employees are only telling you what you want to hear. They need to feel secure enough to outline even the most critical viewpoints.One way of adding more feeling of security is by creating a work environment where everyone knows each other. You want to ensure colleagues at every level of the organisation know each other. This doesn’t necessarily mean that everyone must disclose every imaginable personal detail or reveal things that they don’t want to. It is just about being aware of the person as an individual and being interested in knowing about their lives.It is also crucial to have an atmosphere where talking about emotions comes naturally. You could even organise fun group activities that teach employees to be more in tune with their emotions.Create a flexible feedback culture. You want the employees to feel free to postpone the feedback conversation to a later date. In fact, you don’t want to ever force them into havi ng the conversation, especially if they feel they aren’t emotionally able to handle a conversation at that moment. Only organise the feedback sessions when everyone present at the meeting is willingly there.Step 3. Establish a balanceYou need to strike a balance with feedback in your workplace â€" every work environment is different, so what works in one company might not work in your company.The most important thing is to start small. If you’ve not had any type of feedback culture at your company previously, you can’t suddenly have weekly meetings where people are expected to share their thoughts.Furthermore, don’t instantly change everything your employees might suggest you to change. You don’t want to make major changes right from the get-go, but implement them slowly and start with little tweaks. If you focus on small tweaks first, you can also establish better trust between the managers and the employees.Make sure you don’t focus just on rewarding positive feedback. The key is to strike a balance with valuing the feedback on its own and then rewarding people for good feedback. It is crucial to understand that different people have different ways of communicating. Therefore, you need to value every effort of giving feedback, whether or not the actual feedback itself proves to be valuable or useful.Step 4. Implement the feedback culture as a Normal caseAs mentioned above in the first step, you want the feedback culture to become a regular part of your routine. The best feedback systems are the ones where feedback culture operates as ‘Normal case’.According to Harvard Business review, you need to avoid having the feedback sessions laid out like a special occasion. You don’t want to make it cumbersome and time-consuming. You want the feedback sessions to be a normal part of the workday and something that won’t take longer than a few moments.Normality also equals to transparency. You don’t want the feedback structure to be implemented in secret. It might be a good idea to start it slowly and simply letting your employees know you are looking to implement a new system, you can help instil a feeling of normalcy about the process.Step 5. Have a number of feedback channelsFinally, you should make sure the feedback environment doesn’t focus solely on one channel. Depending on employee personalities different feedback structures might suit their style better than others. That is why you need to make sure you have different channels to support different styles of engagement.You should not only focus on having individual feedback sessions, both face-to-face as well as written forms. You can also have a mixture of anonymous feedback together with personal feedback. This can help build more trust and create a more open environment.Furthermore, it is a good idea to have a mixture of individual sessions combined with group feedback opportunities. A proper feedback outing with the whole team can be a good idea and group conver sations can help bring out aspects that might not arise in individual sessions.The key is to ensure the feedback system in place is transparent and public, even if all of it doesn’t take place out in the open. You don’t want certain employees to have private meetings without others knowing about them. So, whether you are mixing up anonymous, group or one-on-one sessions, ensure everyone in the organisation knows about the structure.Step 6. The right environment to flourish feedback cultureOverall, the above steps will help you implement a strong feedback culture in the workplace. If you want it to flourish and remain successful, then you need to make sure you have the right environment to support your employees, managers and the whole business.The following are the key themes to focus on in order to ensure the environment is supportive of feedback.Step 7. Foster both negative and positive feedbackThe right environment for negative and positive feedback is a lot about creating a safe and secure environment for feedback. On top of this, you need to ensure you don’t just reward positive feedback. Whether or not you receive negative or positive feedback, employees need the feel their input is welcomed.Naturally, we tend to prefer positive feedback, but you should be especially focused on channelling an environment where employees aren’t afraid to voice the negative opinions. It isn’t that positive feedback would be bad for your company, but more about negative feedback often being a better way to grow, develop and improve your business. In fact, negative feedback shouldn’t be viewed as a bad thing. A 2009 poll found that employees who receive negative feedback are over 20 times more likely to be engaged with their work compared to employees who didn’t receive feedback!It’s a good idea to consider when and how negative feedback is given and received. As mentioned earlier, it is important everyone feels free to speak their minds at feedback sessions and you need to give people the room to move the feedback session to a different time if they aren’t ready. If you know you are going to focus on tough areas where negative feedback is likely to arise, think carefully what situation is the best for the conversation.As a general rule, it is better that employees and managers focus on negative feedback in one-to-one sessions or smaller groups rather than out in the public.Step 8. Explain measures behind decisions regarding feedbackThe feedback you receive will naturally often result in actions. You might change the workflow or introduce a new bonus structure for your business due to employee feedback. Whatever the actions are, you need to make sure you explain the changes to your employees.This must be done in a way that doesn’t pinpoint any individual â€" they need to be guaranteed feedback remains between them and the company, even when not anonymous. You also want to ensure you are positive about the changes.As well as explaini ng when changes do occur, you do need to make sure you also make employees understand inaction. If your employees feel the management structure isn’t appropriate, for instance, you should be able to explain to them why the structure remains as it is.Your employees cannot know your thought process and if you don’t explain your decision making to them, they can be left second-guessing your motivations. This could make them feel less willing to share ideas in the future, as they can feel you aren’t open to new ideas.As mentioned above, don’t start mixing and changing everything straight away. If you feel a certain change might not work, you could run a trial period. This shows your employees that you value their input, but also guarantees you don’t undergo a costly change in business operations only to change it back a few weeks later.Step 9. AccountabilityFinally, there has to be a strong accountability culture to support a successful feedback culture. You don’t want your feedback structures to be clouded in mystery or people to feel there isn’t anyone responsible for the changes you might be implementing.The first thing to do is to focus on transparency. Everyone from the managers to employees needs to be aware of how the feedback system works and what the purpose of it is. It might be a good idea to let the employees know about the benefits of feedback and what your business hopes to achieve from the new system. You also want to outline the benefits for the employees.It is important that everyone gets the same information â€" whether you are providing feedback guidelines for colleagues or superiors, the information must be the same.Furthermore, feedback culture is always about an equal communication between the business and the employees. You need to setup an environment where your company is responsible for its part of the deal and the employee is accountable for his or her actions. Your feedback should never be one-sided and your employees must be accountable for the changes you implement as well. Creating an environment of mutual respect, trust and accountability is the key to feedback success.FINAL THOUGHTSA strong feedback culture will provide benefits to organisations of all types. Whether you are a small business or an established institution, the benefits of feedback can boost employee motivation and streamline business operations.The above steps will be useful in creating a strong feedback culture. It is important that you start small and focus on making feedback a regular and normal part of your everyday operations. Make sure every member of your team understands the benefits and goals of your system.Be upfront about what you hope to achieve from the feedback system and the way your actions are impacted by the feedback you receive. Explaining and justifying your actions regarding the feedback is as important as taking in the feedback.Finally, a great way to boost your feedback culture is by openly asking your empl oyees to help you in the implementation process. You can’t just expect the culture to kick in overnight â€" you need to ask each member of the team to support you as you implement the above steps in your organisation.

How to Implement a Feedback Culture in Your Company

How to Implement a Feedback Culture in Your Company The way you handle feedback tells a lot about your character and being able to learn from both positive and negative feedback is crucial for success. As well as being an important part of personal development, a strong feedback culture can also help companies and organisations to grow.But a great feedback culture doesn’t just happen â€" it must be implemented and fostered. It can be a bit tricky to get it right and you won’t be able to change the organisation’s feedback culture overnight. But once you get started, the benefits are going to be evident immediately.Here is a look at the benefits a strong feedback culture can provide for your business and the steps you need to take to create it. You’ll also learn the key characteristics of a great feedback culture to guarantee your organisation makes the most of its employees. © Shutterstock.com | Rawpixel.comIn this article, we will explore 1) why a great feedback culture is important to a business, 2) the steps to take to encourage feedback and create feedback culture in company, and 3) some  final thoughts.WHY A GREAT FEEDBACK CULTURE IS IMPORTANT TO A BUSINESSIt is easy to wonder whether a strong feedback culture is important to determine how your business operates. If the overall job satisfaction is above average, why should managers care about implementing a feedback culture?The truth is there are plenty of benefits for having a strong feedback culture. If both employees and the employer are able to provide constructive feedback on what is going on, the organisation and the employee will feel more rewarded.A recent infographic by the Officevibe found that employee dissatisfaction rate has increased in recent years. In fact, nearly 40% of employees feel they aren’t appreciated at the workplace. This leads to active disengagement from the job. Four out of ten employees admit they aren’t engaged actively at work if they don’t receive any feedback. Without a good feedback structure, people tend to start self-regulating and often end up being much more critical towards the work they do. By providing feedback, you are essentially providing more guidance for the person.According to the evidence, as soon as you implement a feedback culture that works, employee satisfaction goes up. By focusing more on the strengths of the specific individual, managers can improve employee engagement by nearly 30 times. Well over 40% of employees who obtain regular feedback say they are highly engaged with work.This is mainly to do with helping to clarify the person’s position in the business. With regular feedback, it is much easier to clarify the person’s role in the organisation and to ensure they are aware of the tasks and responsibilities of the job. It can also help clarify how the employee’s input is affecting other people.Acknowledg ement of employees’ hard work and input will help them stay on the right track and it gives them that extra bit of motivation. 78% of employees in the survey felt they are more motivated when recognised by managers.Feedback isn’t just a managers’ way of telling off workers â€" employees themselves want to be told how they can improve. 65% of the survey’s respondents said they want more feedback, although only 58% of managers felt they provide enough feedback.Furthermore, a strong feedback environment also helps to improve and develop the company. Your employees often have the best insight into how your company operates and a strong feedback culture can make it easier to pinpoint areas that require development. In fact, companies with strong feedback culture tend to have a better financial performance.Finally, one of feedback culture’s strengths is the ability to solve problems. If you have a big project coming up, it is better to continuously evaluate the effort and see wh at works and what doesn’t, rather than to go through the project first and then analyse what worked. Small problems and issues in employee satisfaction could quickly turn into a bigger problem. As the old saying goes, “it is better to fix the roof while the sun is shining”.THE STEPS TO TAKE TO ENCOURAGE FEEDBACK CULTURE IN COMPANYFeedback has plenty of benefits for any business, but it won’t come about without effort. You cannot suddenly add more feedback to your organisational structure, as you need to create the right environment for feedback to flourish.So how to go about implementing a stronger feedback culture? Here are the key steps you should take in order to encourage feedback.Step 1. Creating a regular system for feedbackThe first thing to do is make sure you have a regular system in place for feedback. You don’t want feedback to be a side thought or something that only happens when you happen to think about it. Feedback must become an integral part of how your bu siness operates.The most successful feedback cultures are the ones where feedback is part of the organisational structure. You might have times when there isn’t much feedback to give, but you still want to have a system in place. As mentioned above, feedback can help you solve issues before they turn into problems.As you’ll find out later on, you want to make sure the feedback system is part of your business operations. Of course, it doesn’t necessarily mean you need to have a regular daily feedback session, but you do need feedback to be part of your operations â€" whether as weekly meetings or even daily conversations.Step 2. Making it secure and safeOnce you have a regular feedback routine in place, you need to focus on efforts that make the system feel safe and secure. You don’t want the feedback moments feel forced and your employees should never feel like they are harassed into giving feedback.Furthermore, it is crucial employees feel safe to give honest feedback. Ther e is no point in having a feedback system in place if employees are only telling you what you want to hear. They need to feel secure enough to outline even the most critical viewpoints.One way of adding more feeling of security is by creating a work environment where everyone knows each other. You want to ensure colleagues at every level of the organisation know each other. This doesn’t necessarily mean that everyone must disclose every imaginable personal detail or reveal things that they don’t want to. It is just about being aware of the person as an individual and being interested in knowing about their lives.It is also crucial to have an atmosphere where talking about emotions comes naturally. You could even organise fun group activities that teach employees to be more in tune with their emotions.Create a flexible feedback culture. You want the employees to feel free to postpone the feedback conversation to a later date. In fact, you don’t want to ever force them into havi ng the conversation, especially if they feel they aren’t emotionally able to handle a conversation at that moment. Only organise the feedback sessions when everyone present at the meeting is willingly there.Step 3. Establish a balanceYou need to strike a balance with feedback in your workplace â€" every work environment is different, so what works in one company might not work in your company.The most important thing is to start small. If you’ve not had any type of feedback culture at your company previously, you can’t suddenly have weekly meetings where people are expected to share their thoughts.Furthermore, don’t instantly change everything your employees might suggest you to change. You don’t want to make major changes right from the get-go, but implement them slowly and start with little tweaks. If you focus on small tweaks first, you can also establish better trust between the managers and the employees.Make sure you don’t focus just on rewarding positive feedback. The key is to strike a balance with valuing the feedback on its own and then rewarding people for good feedback. It is crucial to understand that different people have different ways of communicating. Therefore, you need to value every effort of giving feedback, whether or not the actual feedback itself proves to be valuable or useful.Step 4. Implement the feedback culture as a Normal caseAs mentioned above in the first step, you want the feedback culture to become a regular part of your routine. The best feedback systems are the ones where feedback culture operates as ‘Normal case’.According to Harvard Business review, you need to avoid having the feedback sessions laid out like a special occasion. You don’t want to make it cumbersome and time-consuming. You want the feedback sessions to be a normal part of the workday and something that won’t take longer than a few moments.Normality also equals to transparency. You don’t want the feedback structure to be implemented in secret. It might be a good idea to start it slowly and simply letting your employees know you are looking to implement a new system, you can help instil a feeling of normalcy about the process.Step 5. Have a number of feedback channelsFinally, you should make sure the feedback environment doesn’t focus solely on one channel. Depending on employee personalities different feedback structures might suit their style better than others. That is why you need to make sure you have different channels to support different styles of engagement.You should not only focus on having individual feedback sessions, both face-to-face as well as written forms. You can also have a mixture of anonymous feedback together with personal feedback. This can help build more trust and create a more open environment.Furthermore, it is a good idea to have a mixture of individual sessions combined with group feedback opportunities. A proper feedback outing with the whole team can be a good idea and group conver sations can help bring out aspects that might not arise in individual sessions.The key is to ensure the feedback system in place is transparent and public, even if all of it doesn’t take place out in the open. You don’t want certain employees to have private meetings without others knowing about them. So, whether you are mixing up anonymous, group or one-on-one sessions, ensure everyone in the organisation knows about the structure.Step 6. The right environment to flourish feedback cultureOverall, the above steps will help you implement a strong feedback culture in the workplace. If you want it to flourish and remain successful, then you need to make sure you have the right environment to support your employees, managers and the whole business.The following are the key themes to focus on in order to ensure the environment is supportive of feedback.Step 7. Foster both negative and positive feedbackThe right environment for negative and positive feedback is a lot about creating a safe and secure environment for feedback. On top of this, you need to ensure you don’t just reward positive feedback. Whether or not you receive negative or positive feedback, employees need the feel their input is welcomed.Naturally, we tend to prefer positive feedback, but you should be especially focused on channelling an environment where employees aren’t afraid to voice the negative opinions. It isn’t that positive feedback would be bad for your company, but more about negative feedback often being a better way to grow, develop and improve your business. In fact, negative feedback shouldn’t be viewed as a bad thing. A 2009 poll found that employees who receive negative feedback are over 20 times more likely to be engaged with their work compared to employees who didn’t receive feedback!It’s a good idea to consider when and how negative feedback is given and received. As mentioned earlier, it is important everyone feels free to speak their minds at feedback sessions and you need to give people the room to move the feedback session to a different time if they aren’t ready. If you know you are going to focus on tough areas where negative feedback is likely to arise, think carefully what situation is the best for the conversation.As a general rule, it is better that employees and managers focus on negative feedback in one-to-one sessions or smaller groups rather than out in the public.Step 8. Explain measures behind decisions regarding feedbackThe feedback you receive will naturally often result in actions. You might change the workflow or introduce a new bonus structure for your business due to employee feedback. Whatever the actions are, you need to make sure you explain the changes to your employees.This must be done in a way that doesn’t pinpoint any individual â€" they need to be guaranteed feedback remains between them and the company, even when not anonymous. You also want to ensure you are positive about the changes.As well as explaini ng when changes do occur, you do need to make sure you also make employees understand inaction. If your employees feel the management structure isn’t appropriate, for instance, you should be able to explain to them why the structure remains as it is.Your employees cannot know your thought process and if you don’t explain your decision making to them, they can be left second-guessing your motivations. This could make them feel less willing to share ideas in the future, as they can feel you aren’t open to new ideas.As mentioned above, don’t start mixing and changing everything straight away. If you feel a certain change might not work, you could run a trial period. This shows your employees that you value their input, but also guarantees you don’t undergo a costly change in business operations only to change it back a few weeks later.Step 9. AccountabilityFinally, there has to be a strong accountability culture to support a successful feedback culture. You don’t want your feedback structures to be clouded in mystery or people to feel there isn’t anyone responsible for the changes you might be implementing.The first thing to do is to focus on transparency. Everyone from the managers to employees needs to be aware of how the feedback system works and what the purpose of it is. It might be a good idea to let the employees know about the benefits of feedback and what your business hopes to achieve from the new system. You also want to outline the benefits for the employees.It is important that everyone gets the same information â€" whether you are providing feedback guidelines for colleagues or superiors, the information must be the same.Furthermore, feedback culture is always about an equal communication between the business and the employees. You need to setup an environment where your company is responsible for its part of the deal and the employee is accountable for his or her actions. Your feedback should never be one-sided and your employees must be accountable for the changes you implement as well. Creating an environment of mutual respect, trust and accountability is the key to feedback success.FINAL THOUGHTSA strong feedback culture will provide benefits to organisations of all types. Whether you are a small business or an established institution, the benefits of feedback can boost employee motivation and streamline business operations.The above steps will be useful in creating a strong feedback culture. It is important that you start small and focus on making feedback a regular and normal part of your everyday operations. Make sure every member of your team understands the benefits and goals of your system.Be upfront about what you hope to achieve from the feedback system and the way your actions are impacted by the feedback you receive. Explaining and justifying your actions regarding the feedback is as important as taking in the feedback.Finally, a great way to boost your feedback culture is by openly asking your empl oyees to help you in the implementation process. You can’t just expect the culture to kick in overnight â€" you need to ask each member of the team to support you as you implement the above steps in your organisation.

Study On High Leverage And Hedging Strategy Finance Essay - Free Essay Example

Sample details Pages: 4 Words: 1339 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Essay any type Did you like this example? Trading in Nifty futures is very risk as investor can face heavy loss. Trading requires lot of experience in predicting market. 75% investors in India are small investors, which mean that they concentrate more on leverage. Don’t waste time! Our writers will create an original "Study On High Leverage And Hedging Strategy Finance Essay" essay for you Create order Traders must open an account with brokerage firm and then they can start trading on margin (leverage). Traders have to invest 5% to 10% of the total size of the contract as initial margin to purchase a contract and the rest will be delivered by the brokerage firm. When the market moves leverage can work against the investors and with the investors. If the market moves, then the margin levels are increased and the broker gives an indication to the investors to add additional funds into the account in order to maintain the future position. Nifty future trading expose traders to high leverage which means that they have to invest less and borrow large amount. Leverage = Asset / Equity If Nifty 50 futures trade at Rs 20,000 Then the value of one contract = Rs 20,000 x 25 = Rs 500,000 Initial margin of Nifty futures = 10% x value of the contract = Rs 50,000 Leverage = Rs 500,000 / Rs 50,000 = 10 If the trader has Rs 500,000 in the account can trade one Nifty futu re contract. In this case the leverage will be 1. This is the case of high leverage trading. This means that there will be a 1% chance result in a loss equal to the margin. If the trader has Rs 100,000 in the account then the trader has the choice to trade the future contract with Rs 100,000 from the account and borrowing the rest of the amount from the broker. In this case leverage will be 0.5 (Ranganatham, 2004) High leverage is effective in future contracts, because future contracts are basically carried out in leverage. When leverage increases then the value of the contract also increases as it is directly related to leverage. This point is proved from the equation of leverage. This shows that when there is high leverage then traders have to put less money in the account for purchasing the futures and if the market moves down in the future then the traders has to face less loss in the margin (less loss in the money they have put to purchase the future). (Jay Seth, 2007) 3) Minimizing Risk through Hedging Strategy Index futures are the most important and useful medium for hedging in the Indian market. In commodity and currency markets this is not useful, as the commodity and currency markets are not substitutable with each other. Hedging in Nifty futures is effective only when there is a correlation between changes in prices of the underlying asset and the future contract. Hedging does not always improve the financial outcome, but it reduces the uncertainty. Hedging may be affected by basis risk, which arises because of the differences between the expiration date and the actual selling date of the future contracts. Basis risk arises due to two reasons and they are, asset that is hedged might be different from the one underlying Nifty future contract, and hedger does not know the exact time of the delivery of future contracts. In future contracts there are two types of hedge and they are: 1) Short Hedge 2) Long Hedge Short Hedge It is a process of adding short position to long position. It is a process that protects the traders against decline of price of Nifty future contracts in the underlying assets. The changes in the value of long position in the underlying asset are offset by equal and opposite change in the short position of the underlying asset. This is explained well with the help of an example. The following chart shows that an investor holds portfolio of different companies on December 12, 2003 (Deepak Gupta, 2003, p.10) The investor predicts the market movement in the future and when the investor feels that the market will go down in the future the investor will go short in order to protect against the price risk. Going short means that the investor will sell Nifty futures. Figure 2.4 (Rudhramurty, 2005) The above chart shows that Global Tele has the highest risk (as the beta is high 2.06) as the amount of holding the stock of this company is Rs 200,000. It is important for any investo rs to calculate the number of future contracts for hedging purposes. The number of NIFTY future contracts for hedging purpose is calculated as follows: Figure 2.5(Rudhramurty, 2005) Date Open High Low Close Volume Adjusted Close 9 Dec 03 1646.40 1677.90 1646.40 1675.85 345108500 1675.85 10 Dec03 1675.75 1697.30 1672.65 1686.90 359809900 1686.90 11Dec 03 1,688.35 1,701.70 1,701.70 1,695.40 304,345,700 1,695.40 12Dec 03 1,695.80 1,705.95 1,686.45 1,698.90 299,741,400 1,698.90 The above chart shows the historical prices of Nifty future contracts. Portfolio beta of all the companies mentioned in figure 2.3 is = P1 r1 + P2 r2 + P3 r3 + P 4 r4 Portfolio beta = (Rs 400,000 x 1.55) + (Rs 200,000 x 2.06) + (Rs 175,000 x 1.95) + (Rs 125,000 x 1.9) = 1.61 Nifty futures on December 12, 2003 was 1698.90 Number of Nifty futures = (Total value of portfolio x Beta / Value of Nifty futures on December 12, 2003) Number of Nifty futures = (Rs 1,000,000 x 1.61 / 1698.90) = 947.67 = 948 contracts approximately One Nifty future contract is 200 units. Number of Nifty future contracts required for hedging purpose =948 / 200 = 4.74 = 5 contracts (approximately) Long Hedge Long hedge is a process of adding long future position to short position in the underlying asset. Traders that use long hedge do not own the underlying asset, but they plan to acquire it in the future. It is beneficial to those traders who plan to purchase underlying asset and lock in the purchase price. Long hedge is used to hedge against a short position and this can be proved with the help of an example (Prasanna Chandra, 2004) Assume that in bull market, an investor expects to earn Rs 2,000,000 in 1 month time. If the investor waits for two months to invest then it means that the investor can miss the bull market altogether. The best alternative for the investor in this scenario is to use NIFTY future market. The investor could buy NIFTY futures contract that has amount equal to Rs 2,000,000. This process is called long hedge (Rudhramurty, 2005) The number of future contracts that investor should buy for long hedge is calculated as follows: Assume that on December 12, 2003, the value of NIFTY futures was 1698.90. The investor expects to receive Rs 2,000,000 by the end of January 2004. The investor has to buy June Nifty futures in May and the number of contracts he/she should buy to reduce risk is calculated as follows: Number of contracts = Amount expected by the investor / (1698.90 x 200) = Rs 2,000,000 / (1698.90 x 200) = 5.88 contracts (approximately 6 contracts). Optimal hedging ratios are used to find out the hedging effectiveness of SP CNX Nifty future contracts over a period of December 1, 2003 and January 1, 2004. In this study, Error Correction Model (ECM) is used to estimate the optimal hedging ratios. This model is a linear regression changes on spot price and future price. CRM can be expressed as: ÃÆ'Ã… ½Ãƒ ¢Ã¢â€š ¬Ã‚ St = a + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² . ÃÆ'Ã… ½Ãƒ ¢Ã¢â€š ¬Ã‚ Ft + u (t) + ÃÆ'‘à ¢Ã¢â€š ¬Ã‚  Where St = Spot price of Nifty Ft = Future price of Nifty ut = Error term ÃÆ'‘à ¢Ã¢â€š ¬Ã‚  = Standard error a= Constant (For Nifty a =0.001388) Optimal hedging ratios are defined as the ratio of difference of variance of unhedged position and the variance of hedged position to the variance of unhedged position. The table below shows the results of ECM. Table: 2.6 (Shivraj, 2004) Putting the above value in the following equation, we have ÃÆ'Ã… ½Ãƒ ¢Ã¢â€š ¬Ã‚ St = a + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² . ÃÆ'Ã… ½Ãƒ ¢Ã¢â€š ¬Ã‚ Ft + u (t) + ÃÆ'‘à ¢Ã¢â€š ¬Ã‚  0.40 = 0.001838 + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² x 0.492 + (-0.000483) + 0.001 ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² = Optimal hedge ratio = 0.8103 The slope coefficient ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² is greater than 0.5 and closer to 1, which means that the hedging is highly significant. As the standard error increases the optimal ratio ÃÆ'Ã… ½Ãƒâ€šÃ‚ ² reduces and this shows that the hedging effectiveness reduces as the standard error increases. This answers the research question that hedging has a significant effect on Nifty future trading (Shiv raj, 2004) Effects on Italian Stock Exchange The effect of introducing stock index futures on the volatility of Italian stock exchange was examined through GARCH model. Bologna and Cavallo (2002) used GARCH model to capture the variation of volatility using daily closing price of Milano Italia Borsa stock index (MIB) between December 1, 2003 and January 1, 2004. GARCH model showed there was no destabilization of Italian spot market after the introduction of futures contract in Italy. GARCH model concluded that the volatility of Italian stock market reduced after the introduction of futures contract in Italy due to impact of increased new or recent news (Bologna and Cavallo, 2002)

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