Performance Measurement, Operational and Financial Performance

Empirically, most strategy research studies employ the construct of business performance to examine a variety of strategy content and process issues (Ginsberg and Venkatraman, 1985). This second article in the series concerns the use of financial and operational performance; through the summarization of two seminal papers written by Venkatraman and Ramanujam (1986) and Kaplan and Norton (1992).

Venkatraman and Ramanujam (1986) study consider as an important document for the theoretical discussion regarding the evaluation of the measurement of business performance. One of the key issues addressed by this study is the attempt to delineate the performance concept. More specifically, whether business performance should be differentiated from the overall discussion on organizational effectiveness. The view taken by Venkatraman and Ramanujam (1986) was that business performance, which reflects the perspective of strategic management, is a subset of the overall concept of organizational effectiveness. The narrowest conception of business performance centers on the use of simple outcome based financial indicators that are assumed to reflect the fulfillment of the economic goals of the firm. Venkatraman and Ramanujam (1986) refer to this concept as financial performance. Financial performance measurement is a multi-dimensional one. Sample of financial measures, group into dimensions can be presented as follow: Profitability - return on investment (ROI), earning before interest and tax (EBIT), gross profit margins. Growth - market share growth, Sales Growth. Efficiency - return on sales (ROS), return on equity (ROE). Analyses made by using single financial measure or several measures relating to only one dimension may lead to misleading conclusions. According to Venkatraman and Ramanujam (1986) a border conceptualization of business performance would include emphasis on measures of operational performance, which consists of those key parameters which may lead to an improvement in financial performance. Venkatraman and Ramanujam (1986) note that it would be logical to treat operational performance measures such as market-share, new product introduction, product quality, marketing effectiveness, manufacturing value-added, within the domain of business performance.

Kaplan and Norton (1992) have presented another seminal paper regarding the measurement of business performance. Its name, "The Balanced Scorecard - measures that drive performance" could suggest for the way they approach the issue. According to the writers, since there is increasing need, both for large and small businesses, to master a variety of capabilities in different fields, the traditional measures of financial performance gives inadequate, or in some cases inaccurate, perspective for the status of the business and its ability to keep improving. The balanced scorecard tries to overcome these difficulties through the completion of financial measures, which reflect for actions that already have been taken, with those of operational performance measures, which consists of parameters that may drive the forthcoming financial performance. Operational measures according to the balanced scorecard constructed from three dimensions - How do customers see us? (Customer perspective), What must we excel at? (Internal perspective), Can we continue to improve and create value? (Innovation and learning perspective).

How Standby Letter of Credit Is Useful for Financial Funding and What Is It?

A standby letter of credit is a Promise of payment issued by a bank on behalf of a client will receive payment upon the presentation of described documents in the event the buyer fails to pay the beneficiary according to the terms of the contract. It mostly used in national construction projects and in international commerce. The buyer in this gives instructions for making the document.

The format of letter of credit under a Standby letter can also be beneficial for payment on a deal. When reclaimed, the letter pay costs a broker and also the letter can be beneficial in a land development work to make sure that the permitted people investment will be assembled. The corporations to a Letter credit are generally a recipient who is to earn the money, the issuing bank of whom the applier is a client and the advising bank of whom the recipient is a client.

The key thing to remember with the standby letter of credit is bank it deals only in documents or goods and does not comprise them in the assurance and bond between two groups immediately. The only anxiety of issuing the bank is the circumstances and terms of the letter. There are numerous banks that are capable of providing this letter.

The Categories of standby Letter of credit:-

• A performance Standby: - This category of letter maintains accountability except paying money, comprises of the advantage of loss happens from a fails to pay of the applicant in completing the fundamental deal.






• An advance payment Standby: - This category of letter maintains the commitment of early payment done by the recipient to the supplier.






• A bid bond or tender-bond standby: - This letter maintains the commitment of the contender to accomplish a contract if the contender is rewarded a bid.






• A Counter standby: - This supports the emergence of an independent replacement by the recipient of the contradict replacement.






• A Financial Standby: - This maintains the duty to pay the amount, inclusive of any tool pointing a duty to pay the rented amount.






• A direct Pay: - This substitute maintains payment when due of a primary duty especially in relation with financial substitute without access to an offense.






• An Insurance Standby: - This maintains a protection responsibility of the contenders.






• A commercial standby: - This maintains the responsibility of a contender to pay for services and goods in the occurrence of no expense by other modes.

In relation to other types of letter of credit, the standby letter of credit is more profitable for commercial. This kind of letter uses original bill and documents of shipping in order to earn amount for the retail from a buyer to seller. The standby letter of Credit is comparatively new to the international commerce world and consequently it is officially new as well.

If we have proper knowledge of the Standby Letter of Credit, the profit - making protection compared to no expense is the most significant one.

Computer Degrees Online Available for You

Computer degrees online allow students to acquire a solid education on any computer related course from a reputable college or university, offering online computer program, without actually attending school. It is a distant learning that harnesses the student's knowledge and skills in any computer field.

Online computer degrees provide students with the required talent to enter into a rapidly growing industry with a well-paid profession. As technology advances, the need for computer experts continues to increase. Employment opportunities will exponentially grow in this field as technology and computer use becomes more relevant to the modern life.

Anyone interested in acquiring an online computer degree can choose from any of these courses available in online computer programs of most colleges and universities.

Computer science degree

Computer science degree online will give the students the edge in terms of employment and career advancement in today's fast-paced marketplace. This profession offers a lucrative paying job with a starting salary of over $ 50,000.00, and still increasing as demand for the profession continues to grow.

Computer science is described as the study of theoretical foundations of information and computing. The students also learn practical techniques for their implementation and application in systems.

Software engineering degree

A software engineering degree online can land you a six-figure salary job once you graduate and get certified. Although, this degree is admittedly one of the most difficult Information Technology programs because its coursework consistors of intricate mathematical principles.

Software engineering is the application of engineering to software. It involves the design and development of faster, affordable and easy to maintain software.

Computer networking degree

Computer networking degree online is an off-campus opportunity for individuals to learn and maintain secure network infrastructures. Usual subjects for a computer networking program includes study of hardware devices, including routers, switches and bridges and their problem areas; wireless devices, networking security and security protocols; computer applications and software like sharing files and shared applications; working with various operating systems and programming tools and languages; and designing, modifying and upgrading to more complex systems.

Computer information systems degree

This field is among the fastest and highest paying professions in Information Technology. Individuals can get online computer information systems degree from many reputable universities offering distant learning opportunities.

The program involves designing and developing information-based systems critical for operations and management.

Web design degree

Many now rely on the internet to provide almost everything they need: from getting news to providing information, from doing business to paying bills. Virtually, almost everything is accessible and can be done with a click of button. Because of the convenient use of the internet, more and more people are turning towards worldwide web for business or even their day-to-day needs. This phenomenon has resulted in the surge of websites to cater the growing public demand, thus making web design a very profitable profession. Web designers can easily secure a good paying job whether in a company or working freelance. What's great about it is that an online web design decree is available for everyone with access to computer and internet and with some spare time to the study the course at their own space. Visit websites of colleges and universities to learn about their requirements.

Game design degree

Game design can be said to be in its early stage of rapid growth. The opportunities for development are vast and wide, and this can be observed in the increasing market needs for new and exciting gaming software. Too, the industry is constantly in need of expert game designers, and professionals in this field have very well-paid jobs. Get an online web design degree from well regarded universities to have that extra edge. At any rate, a web design degree can get a solid employment.

Computer programming degree

Programming is a critical phase of software development. It involves creating source codes that will determine how software works. In simple term, programming can be understood as the detailed instructions that tell computers what to do. As a vital part of computer engineering, computer programming is regarded as a highly intricate process that requires excellent skills and expertise in the field. That is why this profession is among the most in demand and well paid position. Major universities offer online computer programming degree, which can be completed at the student's convenience.

CAD degree

Most high-quality presentations now require Computer Aided Designs or CAD. It is the use of a variety of computer-based tools to assist engineers, architects and other design professionals produce well structured real or virtual objects. CAD software allows objects to be designed in two dimensional or three dimensional space. Online CAD degree programs or online CAD degree courses may be offered through schools like ITT Tech and Penn Foster.

If you are planning to enroll in any of the computer lessons online be sure to study its requirements, and determine whether the specific field suits your interest. Any of these courses can provide good employment opportunities.

How Video Games Can Affect the Brain

Video games are very popular among children of all the ages. And, due to our tech pace world, it is continuing to grow even more. Children and even the adults find video games as their mode of entertainment. They play these games whenever they are getting bored or want to take a short break from their work and studies.

These games try to change the mind and mood of individuals and they feel much relaxed than before. Due to its ever-growing demand, scientists have researched to find out the effects of video games on human brains.

Video games and changes in brain

It has been found out that gaming can cause changes in many regions of the brain. Studies show some structural changes in the brain due to video games and also several changes in brain functionality and behavior.

1. Increase attention

We need focus and attention while playing a game otherwise, we will lose it. Therefore, video games have resulted in improving several types of attention in human beings, including selective attention and sustained attention. Furthermore, attention seeking regions of the brain are more efficient in gamers when compared with non-gamers, and they need less activation to stay focused on various tasks.

2. Size of the brain

Playing video games has also shown to increase the size and competence of the parts of the brain that are responsible for visuospatial skills (ability to identify visual and spatial relationships among objects). With long-term gamers who have followed a game training plan, their right hippocampus has been enlarged.

3. Gaming addicts

When talking about gaming addicts, there are some structural and functional alterations in the neural reward system (a group of structures associated with feeling pleasure, motivation, and learning). When we expose these video game addicts to any game-related signals or signs, it causes cravings and also monitors their brain's responses.

4. Help boost your memory

Brain training games even help in boosting the formations of memories of an individual. Moreover, it also helps in improving the two other significant cognitive areas, working memory and sustained attention. These skills are maintained for 6 months after the completion of training.

5. Declining in brain-related diseases

When we talk about the diseases, each and every person wants a disease-free life. What if, it can be done with the help of a video game?

Yes, strategy-based games, have shown to promote an improvement in brain functioning among older adults and may provide some protection against Alzheimer's disease and dementia. Also, a little brain training can help to reverse some of the age-related brain decline.

Overall, these games prove out to be valuable as it is a stress buster, improves brain functioning, cures diseases, besides being a source of entertainment. But, there is always a second side of a coin. Here, spending too much time playing the video game can be harmful for children as well as adults. Talking about the children, it can hamper their studies while weakening their eyesight as these games are played on a screen. And, adults can hamper their work while playing the games at offices.

Hence, do play a little to rejuvenate yourselves, but too much of anything can be dangerous.

London: Nightlife

Some people go on holiday just to relax, others to discover new cities, while others just want to have fun and are interested in the nightlife of the cities they are visiting. According to a ranking made by TripAdvisor regarding the cities with the most active nightlife, London ranks first, Berlin is the second, Newcastle - third place, Dublin - the fourth position and Amsterdam - fifth.

Having one of the most vibrant and diverse club scene in the world, London's Nightlife is extraordinary. Clubs like Fabric, Ministry of Sound and Cargo and are among the largest and best known places to party. Although Londoners are very polite and serious during the day, in the evening they know how to have fun. Regardless of preferences, London offers a variety of places to choose from.

The West End is the home of an overwhelming number of bars, clubs and restaurants, while Soho is one of the most fashionable place to go have a drink. Notting Hill and Portobello Road areas attract nowdays as many tourists as they did in the past, especially for those willing to have fun along the locals. Camden, Clapham and Brixton areas highlight some fantastic pubs and bars, all with their own unique flavor.

Here is a top 10 of the best clubs in London you should definitely go to:

1. Fabric
2. Cable
3. Cargo
4. Dalston Superstore
5. Corsica Studios
6. Plastic People
7. Ministry of Sound
8. The Loft
9. The Drop
10. Paramount Bar

Probably the most popular club in London, Fabric, is a top destination not only for locals, but also for clubbers coming in London from all over the world, looking to have fun. The club has a global reputation based on its wide variety in music (electronic music from Drum & Bass and Dubstep to House, Techno and Progressive) and its brilliant Djs.

The entrance fee of these clubs may seem a bit expensive to some people, but the atmosphere here may be incomparable with your previous club experiences. The entrance fee starts from 3 pounds and can reach up to 20 pounds for the clubs mentioned above. Of course, you must have at least 18 years for you to be able to enter in a club. Pay attention that after you decide which club you want to go, you should check if the buses run at night in that area. This saves money for the taxi back, which is not exactly cheap in London.

Those who are looking for a more quite place, where they can have a drink and some conversation, should go to one of the many English pubs scattered through the city, where they can enjoy an excellent range of beer, cider or whiskey.

On the other hand, if you prefer a good show, go to the Lyceum Theater or Queens Theater, where you can enjoy a musical. There are also a lot of avant-garde theaters outside the West End district, where both young professionals, as well as amateurs actors, play almost everything from classical theater plays to cabaret ones. Other non-commercial theaters include the famous National Theater, Royal Shakespeare Company (RCS), Shakespeare's Globe Theater and The Old Vic.

Culture lovers can enjoy an evening at Covent Garden, watching the Royal Opera or the Royal Ballet while classical music lovers can go to the Albert Hall.

How to Estimate Business Travel Expenses

Business travel expenses has to be estimated depending on the type of trip you are undertaking, for instance the duration of the trip will certainly impact the cost of the entire travel. International travel plans will also include special circumstances such as health vaccinations, etc. Before you start on your trip, it is important that you confirm each and every detail of the trip with your manager and in this way you can also research the travel destination before you take off for your trip. In order to get access to the basic information of the visiting place, you can contact your local travel agent or the visitor's bureau as well.

1) The foremost thing to do would be to conduct a thorough research on the place you are traveling to for business. You can get in touch with a local travel agency and can get information about the average cost which is associated with the transport and sightseeing. The visitor's bureau will also help you with the necessary information and the international business expenses can also be estimated with the help of an online conversion calculator.

2) Make a spreadsheet with the expected expenses to be filled in the columns and you can approximately compute the expenses by the number of days you will be out of station.

3) In your spreadsheet, include space for both personal and professional expenses and in this way you can understand what expenses you can account for in the business travel expenditure. In this manner, you can clearly distinguish between your grooming needs such as a purchase of an international adapter for shaving or that of a new adapter for your business laptop. Also, create separate columns for tips and gratuity.

4) To understand your costs on fuel, you can make use of the Trip Calculator which will assist you in estimating your fuel expenses while driving in the United States. This tool is a very helpful one and can also be used for other international business travel destinations such as for European trips.

5) Before summing up all the expenses, you have to complete all kinds of currency exchange conversions and you can record the results into your spreadsheet. Before submitting the same for reimbursement, please make sure that you have reviewed the data once again and have included all the necessary business travel expenses which you can claim from your company.

Penis Shrinking - Causes Of Penile Shrinkage And Why It Needs Help

If a man is worried about his penis shrinking, it's generally quite a cause for concern. When a man is young and virile, his penis is living its best years. Sex is more fun, your penis seems to be as big and hard as it can get and you can go for longer in bed.

It's only later on, in a man's late 30s, 40s or afterwards that the penis shrinking kicks in, causing much confusion, despair and even panic.

The Causes Of Penis Shrinking

Penile shrinkage is when you lose some girth and length from the original size of your erect penis. Men also can lose size and weight from their penis in its flaccid state. The potential causes are quite simple to understand and you can find a remedy if you apply some natural techniques.

Weaker erections

Quite simply, most cases of a penis shrinking are related to erections becoming less hard as time goes on. Harder erections maximize the potential of your penis and increase the size of your erect member. When your erections are hard and powerful, your penis will seem bigger. This is because it is bigger!

As a man ages, levels of the main sex hormone, testosterone, decline and he may experience weaker erections and weight gain. This is what makes the penis smaller than before. Fortunately, this process can be reversed.

Poor blood circulation

As the years pass, a man eats more, drinks more and sometimes smokes. The penis depends on adequate blood circulation for strong erections. Fats can build up in the blood vessels and prevent blood from reaching the penis. Smoking can restrict blood flow and affect libido negatively. A lack of erections can cause blood circulation to become weak in the penile area over time.

Low testosterone

The male hormone, testosterone, declines in men after the age of 30 and can reach unacceptably low levels in men with a number of negative symptoms including the penis shrinking.

Steroids

Anabolic steroids can cause the testicles to effectively shut down as the body starts to depend on steroids instead of natural testosterone. To some extent, penile shrinkage can also be a consequence of steroids.

Testosterone treatment

Men have reported that testosterone injections can cause their testicles to shut down and shrink, in the same way that steroids do. The penis and erection quality can also be affected to some extent.

Solutions For The Penis Shrinking

Now you know about the causes of penile shrinkage, we get to the interesting part, the solutions. You'll be pleased to find out that you can reverse penis shrinking and although it may take a few weeks or a couple of months, it is absolutely possible.

Boost testosterone

Taking a supplement for boosting testosterone naturally in your body is the first step towards growing your penis back to a healthy normal size again. Choosing a high quality supplement is a great place to start your energy back on the road to recovery and harder erections.

You can also exercise. Train your muscles 3 times a week and do some cardio exercise at least 3 times per week and get out in the sunshine more often. Eat more cabbage, broccoli and cauliflower for best results.

Penile Massage

You may have heard of penile massage for improving blood circulation in the penile area. This is quite easy for you to do in an erect or a flaccid state. You'll need to massage especially around your perineum and the base of your penis, paying careful attention to increase blood flow in the penile chambers.

Penile massage is great for improving blood circulation and increasing erection quality. The way you perform penile massage is very important to your penile shrinkage problem. Doing it the right way could save you weeks of penis panic. It's really worth paying some attention to following the methods correctly to get optimal results.

Improving Lifestyle

Your lifestyle can be dramatically improved by tweaking a few aspects of it and increasing vitality and health levels. This will help to boost your erections, make your penis seem bigger and help you to feel confident again. Eat more organic food and avoid packaged food that has come into contact with plastic. Some plastics actually leech chemicals which can have a dampening effect on male testosterone levels.

Reduce your intake of white carbs and eat more vegetables, lean white meats, eggs and fish. Get into shape and detox your body in whatever way possible.

The causes of your penis shrinking are probably more to do with male hormones rather than any disease or problem you think you may have. Address the root cause of the problem by following the above advice and you'll reverse your penile shrinkage in just a few weeks.