Role of the Nurse in Delegation of tasks

Role of the Nurse in Delegation of tasks Delegation is a term that means assigning certain authority or responsibility to a person to carry out that task but the person delegating still maintains the responsibility of the delegated task (Wikipedia, 2010). In the nursing world, delegation is a skill that requires knowledge of what a registered nurse (RN) can delegate and who they can delegate to. It is a competency both recognized by the American Nurses Association (ANA) and National Council of State Boards of Nursing (NCSBN). Delegation is a complex skill that is best learned through working with other RNs. In order for an RN to delegate, he or she must know their states nurse practice acts, institutions policies and procedures, and the institutions job description for assistive personnel (Potter and Perry, 2005, p. 379). In order for the RN to delegate a task to a nursing assistive personnel (NAP) or another RN, he or she must know the five rights of delegation which includes the right task, right circumstance, right person, right directions and communications, and right supervision and evaluation (ANA, 2009). A right task is delegated when the task being delegated is within the NAP or another RNs scope of practice. The person being delegated to that task must require very little supervision and must be competent at the assigned task. A nurse can assign the NAP to take vital signs from another patient of his or her but not assign him or her to discontinue an IV. If a nurse is in the middle of an important task (i.e, start another IV from a patient whose IV line had infiltrated), she can ask or assign another RN, if that RN is not busy with her own task, to give her other patients their scheduled medications. For a task to be completed in the appropriate time and manner, it must be done under the right circumstances. The delegating RN must look at the overall scenario to see if the delegated task is right for the patient setting and that resources are readily available. A patients condition can change quickly in an acute care setting. An RN with good critical thinking skills can make good clinical decisions based on the clients condition and be able to delegate a task to the NAP. For a good patient outcome, an RN must know who he or she can delegate a task to. Knowing who to delegate a task can make the workflow much smoother. An NAP with very little experience might need constant supervision compare to an NAP who has worked in the facility for years and knows what can be delegated to him or her. Although an inexperienced NAP must need supervision, he or she must not be deprived of clinical experience and that once enough clinical experience, within his or her scope of practice, is achieved, he or she can be a big help to maintain good workflow. Giving the right direction and maintaining good communication with the NAP or other RNs is a big key in maintaining a good work relationship between the RN and the NAP. Communication is a two way process and that it must be proper and appropriate (ANA, 2009). The delegating RN must let the NAP know what he or she expects of them in doing a delegated task. Giving the NAP a clear and complete direction can make the job flow much smoother and manageable. The RN must also let the NAP know that if he or she has any question regarding the delegated task, that the RN will be readily available for him or her as a resource, guide, and support if she has any question (NCSBN, 2005, p.09). Having supervised the NAP by the delegating RN makes sure that the NAP is complying with the practice, policies, and procedures of the working institution and within the NAPs scope of practice. The RN can determine how often he or she can assign the NAP based on patient needs on the nursing unit and supervise the NAP based on the NAPs experience with the task. In supervising the NAP, the RN must make sure that the delegated task is completed on time so that other RNs on the unit may utilize the NAP if needed. If the delegated task is not completed on time, the RN must intervene so that in can meet the facilitys expectation and completed on time (NCSBN, 2005, p.10). Also, if there is an unexpected change in the patients condition while the NAP is performing his or her task, the RN must intervene to assess and check what could be causing the patients change in condition. Knowing who to delegate and what can be delegated can result in good patient outcomes. Delegation is a skill that requires critical thinking and experience. In order for the RN to delegate, he or she must know the five rights of delegation, their state nurse practice acts, and the working facilities policies and procedures on delegation (ANA, 2009). In turn, this helps assure the public and patients that good, safe, up-to-date knowledge on nursing procedures, policies, and standards keep the RNs and NAPs competent on what they do to provide care. In some of the patients and publics view, the RNs are the one taking care of them but some dont realize that without the NAPs, the RN would not be able to provide the needed time and care they need. RNs are highly encouraged to seek help or assistance if they have any questions regarding delegation. This can help the RNs obtain the information they need to provide safe and effective care for the patients and result in good patient outcomes. This also helps them build a good working relationship with the NAPs and that the NAPs are more willing to do the required task without having to ask them the next time. And thus, this frees the RN to tend to his or her more complex patient and in return, have good patient outcomes.

Market Structures: Tesco

This task for Business environment is split in two parts. For Part 1 I will be describing the 4 different market structures that economist usually talk about are perfect competition, monopolistic competition, oligopoly and monopoly. Using the 4 market structures I will illustrate using real life case studies and examples how a selected business of my choice has behaved/responded to its market structure and finally describe how the OFT and other regulatory bodies check against anti – competitive behaviours. In the second part of the assignment I will describe the value of international and EU markets to UK firms. My description will include an evaluation of the pros and cons of UK joining the Euro along with that I will describe the impact of 2 EU policies on UK businesses. The business that I have chosen for this assignment is Tesco; this is because Tesco is a multibillion pound international business. Different types of market structures Market structures are the business orientated characteristics of a market; all businesses must focus on these characteristics of the market because these have an effect on the degree of competition in the industry and influence the business product or service pricing decisions. Perfect competition: In a perfect competition there are few entry and exit barriers, in this type of competition the companies target the mass audience and they differentiate their product with minor changes in the product attributes (Homogenous). Homogenous products are identical products or business e.g. aviation all airlines prove one service which is to get their customers from one location to their destination and most customers have no preference or specific type of airline that they want to travel with, most customers will just look for the cheapest airline. In such type of competition most of the companies use Push strategy, i.e. huge efforts will be done through their sales team, the main focus is the product availability. In this type of competition the companies are forced to follow the competitive pricing strategy in order to survive in the industry, i.e. the buyers have the power to influence the price of the product or services. Examples of a perfect competition to its closest definition are in the financial market like stock exchange, currency exchange market and the bonds/certificates market. As the companies are bound to follow market prices the only way the company can have advantage over its competitors is by reducing its operating costs and working at optimum level of efficiency . Monopolistic competition: Under monopolistic competition, the market consists of many buyers and sellers who trade over a range of prices rather than a single market price. A range of prices occurs because sellers can differentiate their offers to buyers. Either the physical products can be varied in quality, features, style or the accompanying services can be varied. Buyers see different in sellers, products and will pay different prices for them. Sellers try to develop differentiate offers for different customer segments and, in addition to price, freely use branding advertising and personal selling to set their offers apart. In this sort of environment the businesses and trades people have somewhat control over their prices because of the products differentiations. Most common examples of monopolistic competitions are: restaurants as in the right area and right type of food they can have their own small portion of monopoly, professional solicitors, building and project managing firms and finally plumbers as there are less of them and more required. Oligopoly: In this type of competition the industry has a small numbers of large dominant firms that have a firm control over the market. In oligopoly there are many entry and exit barriers such as huge investments etc. In this type of industry firms usually follows pull strategy and make huge efforts in marketing and advertising to attract its target customers, the products in the industry could be highly differentiated or even be similar but hard of getting a hold and this is why businesses use branding or homogenous. Due to the low degree of competition theses big giants can decide on their own price which is most suitable for its target audience and these prices will be non-competition prices however there could be potential for collusion and price fixing so that each dominant business can enjoy their market share and have profits accordingly i.e. their profits margin will vary but still always high. Example of oligopolistic business industries are: supermarkets such as Tesco which alone owns 30.4% which is nearly 1/3 of the UK supermarket retail share market share, banking industry, chemicals industry, oil and energy industry, medical drugs and also the news and media broadcasting industry. http://www.retail-week.com/data/kantar-worldpanel/tesco-market-share-up-as-it-piles-pressure-on-asda/5010942.article (Tesco market share) Monopoly: A monopoly has high barriers to entry and firms have strong controls over their prices and they also control the supply of their product which can increase demand of popular products, because a firm with a monopoly has majority of the market share it can decide to have low prices in order to destroy their competitors. A good and most current example of a monopoly is the Apple Company which has created the iPhone, because of the degree of the monopoly there is a high possibility of price discrimination where the customers and the consumers have their choices limited to what is available in the market. There are three different types of monopolies listed as below: Pure monopoly in where the firm is the industry, for example Transport for London, the firm which owns all buses and underground tubes in and around London, this is where consumers have no or very limited choice. Actual monopoly is where the firm has somewhat majority of the market share in the industry, in this case Tesco is the most famous example, Tesco owns over 30.4% of the market share and is the leader in supermarket industry. Natural monopoly is where there are high fixed costs for example the energy industry like gas and electricity as well as water, telecommunications and the transportation industry like underground and rail. The disadvantages of a monopoly is that customer are exploited to high prices and potential supplies have limited choice for demand and this means that the consumers have less choice and again might have to pay higher prices than normal or the monopoly can even use very low price to push their competitors towards administration or bankruptcy. (http://66.102.9.132/search?q=cache:qGV5KxXiB80J:www.bized.co.uk/educators/16-19/economics/firms/presentation/structure.ppt+market+structures&cd=2&hl=en&ct=clnk&gl=uk) What is Tesco's market structure? Tesco's market structure described by the media is believed to be a monopoly, Tesco has also been through the legal proceedings to prove their innocence, Tesco has accused of being manipulative and gaining monopoly by building stores across towns and cities through the country and Europe but realistically Tesco is an oligopoly, although Tesco is the dominant supermarket it has fairly large competitors who also partly control the market. Tesco accused of ‘Manipulative Monopoly' (http://www.thisislondon.co.uk/standard/article-23658062-tesco-accused-of-manipulative-monopoly.do) â€Å"A ‘competition test' to curb the power of the supermarkets was unveiled by the Competition Commission last year as part of a planning shake-up designed to boost competition in the multi-billion pound grocery market. But the tribunal agreed with Tesco that the commission did not fully take account of the fact that the test, relating to planning decisions for larger stores, might have â€Å"adverse effects for consumers†, among other matters.† (http://www.thisislondon.co.uk/standard/article-23658062-tesco-accused-of-manipulative-monopoly.do) How has Tesco responded to this structure? Monopoly Vs Oligopoly Tesco has over 4,000 stores across the world and out of those 4,000 Tesco has more than half of them in the UK around 2362 stores and this does not include all the Tesco metro and express stores. (http://www.tescoplc.com/plc/about_us/map/) Tesco themselves say that it is an oligopoly, this is because Tesco is not the only supermarket in the UK, Tesco is the dominant shareholder but cannot be called a monopoly as there are many other firms which are in competition with Tesco e.g. Sainsbury which owns 16.3% of the UK supermarket shares and Morrisons which owns 11.5%, this means the entry barriers to entry are very high because the industry is dominated by small number of large firms which control and own that share market. OFT (Office of Fair Trading) The ‘Office of Fair Trading' is the UK's consumer and competition authority and their mission is to make markets work well for consumers. OFT is a non-ministerial government regulator that was established by government in 1973. Another organisation that does similar commerce to what Office of Fair Trading do, Ofcom is an independent regulator and competition authority, for the UK communications industries, with responsibilities across television, radio, telecommunications and wireless communications services. Competition regulators are important in business and are required to ensure equality and a fair deal for all, How does OFT checks anti-competition? OFT plays a leading role in promoting and protecting consumer interests throughout the UK, while ensuring that businesses are fair and competitive. This work is done using the powers granted to the OFT under consumer and competition legislation. OFT gathers intelligence about markets and trader behaviour from a wide range of sources and then they respond to complaints about markets from nominated consumer bodies, where the OFT is able to see potential problems, the OFT undertakes market studies and recommends to take action respectively. In a recent investigation by the OFT has reviled that British Airways has been found guilty over the price of ‘long-haul passenger fuel surcharges' and has paid a penalty of à ¯Ã‚ ¿Ã‚ ½121.5m to be imposed by the OFT, therefore enabling the OFT to close its civil investigation and resolve this case. This penalty to the British Airways has been the highest ever imposed by the OFT for violation of competition law and this demonstrates the determination of the OFT to deal strongly with anti-competitive behaviour. In another case, The Royal Bank of Scotland or RBS has also paid a fine of à ¯Ã‚ ¿Ã‚ ½28.59 million about 2 months ago in March 2010, after admitting breaches of competition law between October 2007 and February or March 2008, the fine for the bank was reduced from à ¯Ã‚ ¿Ã‚ ½33.6 million to à ¯Ã‚ ¿Ã‚ ½28.59 million and this was done to reflect RBS's admission and agreement to co-operate. The OFT has a 5 step method of keeping a good eye on business and other organisations these 5 steps start with Analysis, Prioritisation, Prevention, Partnership and Evaluation, the details of all the steps are on their website under ‘What we do'. (http://www.oft.gov.uk/ about/what/#named2) How do other supervising bodies monitor anti-competition? As the OFT only supervises what happens in the United Kingdom, there is the European Union which is active in a wide range of policy areas, from human rights to transport and trade, the European Union monitors all of the 27 countries that are part of the union, using similar techniques as the OFT but on a much larger scale, the policy to monitor and control competition is said as â€Å"A fair deal for all† and this policy is described as: â€Å"Effective competition to provide goods and services cuts prices, raises quality and expands customer choice. Competition allows technological innovation to flourish. The European Commission has wide powers to make sure businesses and governments stick to EU rules on fair competition. But in applying these rules, it can take account of the interests of innovation, unified standards, or small business development.† (http://europa.eu/pol/comp/index_en.htm) United Kingdom supermarket share Following are the 4 leading supermarket chains in the United Kingdom Tesco, Asda, Sainsbury's and Morrisons, these fantastic four have a combined share of 75.6 percent of the UK grocery market accord to the research done in the 12 weeks ending 1 November 2009 (Source: Kantar World pane) http://TNS_Worldpanel What is European Union? (http://europa.eu/abc/panorama/index_en.htm) European Union is a unique economic and political society which is in partnership between 27 democratic European countries. What are its aims? Some of the basic aims of the European Union are peace, prosperity and freedom for its 498 million citizens in a fairer, safer world. What results so far? Under the European Union the members can travel and trade freely without any constraints as long as the members are trading in euro (the single European currency). European Union policies ensure safer food and a greener environment, better living standards in poorer regions, joint action on crime and terror, cheaper telecoms and communication, millions of opportunities to study abroad and more How does it work? To make these things happen, EU countries have set up bodies to run the European Union and adopt its legislation. The main ones are: * The European Parliament (representing the people of Europe) * The Council of the European Union (representing national governments) * The European Commission (representing the common EU interest). How can the members have their say? The European Union is not a perfect society but it is an evolving project and constantly has to be improved. If a community or even an individual has an important point to show to the union they must do some of the following starting with: * Contacting their local MP – European Union policies are part of national politics. * Contacting their MEP and cast vote at the European Parliament elections the European Parliament enacts EU laws: (www.europarl.europa.eu) * Contacting their NGOs (consumer associations, environmental pressure groups, etc.) they work with the EU on shaping policies. The EU has developed a single market system of laws which apply to all member states, and ensures the free movement of people, goods, services, and capital, including the elimination of passport controls by the Schengen Agreement between 26 European Union states which I have listed below. European Union executes legislations in justice and home affairs, and maintains common policies on trade, agriculture, fisheries and regional development. Austria, Belgium, Czech, Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland. (http://www.axa-schengen.com/en/schengen-countries) Value of International markets to UK Non EU Exports * In June 2010 the total value of UK's trade-in-goods exported to countries outside the EU was à ¯Ã‚ ¿Ã‚ ½10.9 billion. * As a comparison the total value of UK's trade-in-goods exported to countries outside the EU in May 2010 was à ¯Ã‚ ¿Ã‚ ½9.4 billion and for June 2009 was à ¯Ã‚ ¿Ã‚ ½8.2 billion. * June 2010 showed a 15.5 per cent increase in exports compared to May 2010 and a 33.0 per cent increase in exports compared to June 2009. * The total 2010 year to date value of UK's trade-in-goods exported excluding June 2010 was à ¯Ã‚ ¿Ã‚ ½45.5 billion, which has been downwardly revised by à ¯Ã‚ ¿Ã‚ ½6.9 million. * The final total value of UK's trade-in-goods exported for January 2009 to December 2009 was à ¯Ã‚ ¿Ã‚ ½101.5 billion. Non EU Imports * In June 2010 the total value of trade-in-goods imported to the UK from countries outside the EU was à ¯Ã‚ ¿Ã‚ ½15.4 billion. * As a comparison the total value of UK's trade-in-goods imported to the UK from countries outside the EU in May 2010 was à ¯Ã‚ ¿Ã‚ ½14.0 billion and for June 2009 was à ¯Ã‚ ¿Ã‚ ½12.0 billion. * June 2010 showed a 9.6 per cent increase in imports compared to May 2010 and a 28.4 per cent increase compared to June 2009. * The total 2010 year to date value of UK's trade-in-goods imported excluding June 2010 was à ¯Ã‚ ¿Ã‚ ½67.5 billion. * The final total value of UK's trade-in-goods imported for January 2009 to December 2009 remains at à ¯Ã‚ ¿Ã‚ ½147.3 billion. (https://www.uktradeinfo.com/index.cfm?task=noneufullreport) It can be concluded that UK has less exports to the non EU zone compared to the European market, in June 2010 total value of goods exported to Europe was à ¯Ã‚ ¿Ã‚ ½11.3Billion compared to the total value of goods exported to the international market which was à ¯Ã‚ ¿Ã‚ ½10.9Billion. International business traffic is an important feature of the UK economy's survival; almost 50% of UK's export is in the Non European Union zone, there fore international market has a vital role to play in UK's economy. The imports of UK data shows that the import from the non European Union zone is increasing i.e. from à ¯Ã‚ ¿Ã‚ ½14.0 billion to à ¯Ã‚ ¿Ã‚ ½15.4 billion, hence the UK economy is dependent on the import of essential raw and prepared materials; today the service sector is more and more important to the UK economy as a result of the weakening of the manufacturing sector now imports are crucial and that is why using the international market the UK economy is on the growth as the export data depicts that UK's export is increasing from à ¯Ã‚ ¿Ã‚ ½8.2 billion to à ¯Ã‚ ¿Ã‚ ½10.9 billion. Value of European markets to UK EU Exports * In May 2010 the total value of UK's trade-in-goods exported to Member States of the EU was à ¯Ã‚ ¿Ã‚ ½11.3 billion. * As a comparison the total value of UK's trade-in-goods exported to Member States of the EU in April 2010 was à ¯Ã‚ ¿Ã‚ ½11.6 billion and for May 2009 was à ¯Ã‚ ¿Ã‚ ½9.3 billion. * May 2010 showed a 2.9 per cent decrease in exports compared to April 2010 and a 21.3 per cent increase in exports compared to May 2009. * The total value of UK's trade-in-goods exported for January 2009 to December 2009 was à ¯Ã‚ ¿Ã‚ ½124.2 billion, which has been upwardly revised by à ¯Ã‚ ¿Ã‚ ½48.5 million. * The total 2010 year to date value of UK's trade-in-goods exported excluding May was à ¯Ã‚ ¿Ã‚ ½46.2 billion, which has been upwardly revised by à ¯Ã‚ ¿Ã‚ ½273.6 million. EU Imports * In May 2010 the total value of trade-in-goods imported to the UK from Member States of the EU was à ¯Ã‚ ¿Ã‚ ½14.7 billion. * As a comparison the total value of UK's trade-in-goods imported to the UK from Member States of the EU in April 2010 was à ¯Ã‚ ¿Ã‚ ½15.3 billion and for May 2009 was à ¯Ã‚ ¿Ã‚ ½12.2 billion. * May 2010 showed a 4.2 per cent decrease in imports compared to April 2010 and a 20.8 per cent increase in imports compared to May 2009. * The total value of UK's trade-in-goods imported for January 2009 to December 2009 was à ¯Ã‚ ¿Ã‚ ½162.7 billion, which has been upwardly revised by à ¯Ã‚ ¿Ã‚ ½238.0 million. * The total 2010 year to date value of UK's trade-in-goods imported excluding May was à ¯Ã‚ ¿Ã‚ ½59.2 billion, which has been upwardly revised by à ¯Ã‚ ¿Ã‚ ½96.7 million. (https://www.uktradeinfo.com/index.cfm?task=euearlypub) The single market benefits the firms, by making it easier & cheaper to do business in other EU countries. No customs tax is charged on goods that are sold or transported between member states. The EU also tries to make each market as similar as possible to ensure fair competition across national borders. Free Movement of Citizens: European citizens have the freedom to live, work, study, and travel in any other EU country. Since 1995 alone, about 100,000 young Britons have spent time studying in another European country. More Jobs: It is estimated the 3.5 million British jobs are dependent on* Britain's membership of the EU. (Source: UK Jobs Dependent) UK joining the Euro (Pros & Cons) Below I have listed the advantages and disadvantages which were discussed by the chancellor Gordon Brown at the times of between 1999 and the year 2002 when the waves of countries in Europe joined the European Union and the currency: Advantages: 1. A single currency should end currency instability in the participating countries (by irrevocably fixing exchange rates) and reduce it outside them. Because the Euro would have the enhanced credibility of being used in a large currency zone, it would be more stable against speculation than individual currencies are now. An end to internal currency instability and a reduction of external currency instability would enable exporters to project future markets with greater certainty. This will unleash a greater potential for growth. 2. Consumers would not have to change money when travelling and would encounter less red tape when transferring large sums of money across borders. It was estimated that a traveller visiting all twelve member states of the (then) EC would lose 40% of the value of his money in transaction charges alone. Once in a lifetime a family might make one large purchase or transaction across a European border such as buying a holiday home or a piece of furniture. A single currency would help that transaction pass smoothly. 3. Likewise, businesses would no longer have to pay hedging costs which they do today in order to insure themselves against the threat of currency fluctuations. Businesses, involved in commercial transactions in different member states, would no longer have to face administrative costs of accounting for the changes of currencies, plus the time involved. It is estimated that the currency cost of exports to small companies is 10 times the cost to the multi-nationals, who offset sales against purchases and can command the best rates. 4. A single currency should result in lower interest rates as all European countries would be locking into German monetary credibility. The stability pact (the main points of which were agreed at the Dublin summit of European heads of state or government in December 1996) will force EU countries into a system of fiscal responsibility which will enhance the Euro's international credibility. This should lead to more investment, more jobs and lower mortgages. Disadvantages: 1. Twenty seven separate countries with widely differing economic performances and different languages have never before attempted to form a monetary union. It works in the United States because the labour market is mobile, helped by the common language and portability of pensions etc. across a large geographical area. Language in Europe is a huge barrier to labour force mobility. This may lead to pockets of deeply depressed areas in which people cannot find work and areas where the economy flourishes and wages increase. While the cohesion funds attempt to address this, there are still great differences across the EU in economic performance. 2. If governments were obliged through a stability pact to keep to the Maastricht criteria for perpetuity, no matter what their individual economic circumstances dictate, some countries may find that they are unable to combat recession by loosening their fiscal stance. They would be unable to devalue to boost exports, to borrow more to boost job creation or cut taxes when they see fit because of the public deficit criterion. In the United States, Texas could not avoid a recession in the wake of the 1986 oil price fall, whereas demand for Sterling changed in the light of the new oil price, adjusting the exchange rate downwards. 3. All the EU countries have different cycles or are at different stages in their cycles. The UK is growing reasonably well, Germany is having problems. This is the reverse of the position in 1990. Since the war the UK economy has tended to have an economic cycle closer to the US than the EU. It has changed because interest rates are set in each country at the appropriate level for it. One central bank cannot set inflation at the appropriate level for each member state. 4. Loss of national sovereignty is the most often mentioned disadvantage of monetary union. The transfer of money and fiscal competencies from national to community level would mean economically strong and stable countries would have to co-operate in the field of economic policy with other, weaker, countries, which are more tolerant to higher inflation. (http://news.bbc.co.uk/1/hi/special_report/single_currency/25081.stm) One of the few reasons that the United Kingdom did not want to join the single European currency with the first wave of countries on 1 January 1999 is that according to the chancellor of the Exchequer at that time in 1999 who was Gordon Brown our current prime minister said that, â€Å"although the government supported the principle of the single currency Britain would not be ready to join at least until the second wave of countries† which occurred in 2002 and during that time he told the European Union that the country should begin to prepare for monetary union but up till now there have been no indications of the United Kingdom joining the European Union currency, Euros. From my understanding there are many possible reasons that the government should consider while joining Euro, joining Euro would reduced exchange rate uncertainty for UK businesses and lower exchange rate transactions costs for both businesses and tourists. Eliminating exchange rates between European countries eliminates the risks of unforeseen exchange rate revaluations or devaluation, further those businesses who involved in commercial transactions in different member states would no longer have to face administrative costs of accounting for the changes of currencies. The loss of national sovereignty is the most often mentioned reason for the UK not joining the monetary union is the transfer of money and financial proficiency from national to community level would mean that economically strong and stable countries would have to co-operate in the field of economic policy with other weaker countries. European policies The European Union is currently active in a wide variety of policies from ‘human rights' to ‘transport and trade'; below is the list of some of the policy areas of the European Union. Agriculture Media Competition Consumers Education Employment Environment External trade Fight against fraud Human rights Taxation Transport Justice, freedom Internal market Customs (http://europa.eu/pol/index_en.htm) Impact of European Union's Competition policy on Tesco Competition policy: A fair deal for all Effective competition provides goods and services cuts prices, raises quality and expands customer choice, allows technological innovation. The European Commission has wide powers to make sure businesses and governments stick to EU rules on fair competition. Competition must be fair It is illegal under EU rules for businesses to fix prices or carve up markets between them. A multinational company like Tesco cannot merge with another giant if that would put them in a position to control the market, though practice this rule only prevents a small numbers of mergers going ahead. If Tesco plans to merge with its competitor, Tesco needs approval from the European Commission, the EUC (European Union Commission) marks their decision depending on the amount of business that Tesco has within the European boundaries. The Commission may agree to a company having a monopoly in special circumstances – for example where costly infrastructure is involved (‘natural monopolies') or where it is important to guarantee a public service. The large may not exploit the small In doing business with smaller firms, Tesco cannot use their bargaining power to impose conditions which would make it difficult for their supplier or customer to do business with its competitors. The Commission can, does and has fined companies for all these practices. No props for lame ducks The Commission also monitors closely how much assistance EU governments make available to business (‘state aid'). This aid can take many forms – loans and grants, tax breaks, goods and services provided at preferential rates, or government guarantees which enhance the credit rating of a company compared to its competitors but in this case this does not apply to Tesco till today as Tesco is already on top of its game. Exceptions that prove the rule Some exceptions to the general rules are possible. The European Union Commission can allow companies like Asda and Morisons to cooperate in developing a single technical standard for the market as a whole. It can allow smaller companies to cooperate if this strengthens their ability to compete with larger ones such as Sainsburys and Tesco. Aid for research and innovation, regional development or small and medium-sized enterprises is often allowable because these serve overall EU goals. Checks and balances The Commission's extensive powers to investigate and halt violations of European Union competition rules are subject to legal review by the European Court of Justice. Businesses regularly have to make appeals against Commission decisions if it seems like a unfair deal. The competition policy stops the Tesco from growing further from their potential market share, something which Tesco has known to be done in the recent years. Effective competition provides goods and services, automatically raises quality and customer choices increase with competition. The policy also allows technological innovation and the European Commission makes sure that these innovations are in the European Unions fair competition policy. Environment: The European Union has some of the highest environment standards in the world, developed over decades to address a wide range of issues. Today the main priorities are combating climate change, preserving biodiversity, and reducing health problems from pollution and marking sure that natural resources are being used more responsibly. Climate change Climate change is one of the gravest challenges facing humanity. The European Union plans to reduce greenhouse gases at least 20% by 2020 (compared with 1990 levels), raise in renewable energy's share of the market to 20% and cut overall energy consumption by 20% (compared with projected trends). All businesses like Tesco's are directly affected by this policy as this aims to cut energy consumption and greenhouse gasses by 20%, meaning Tesco will have to recycle more, reuse materials more and reduce wastage and use of non-biodegradable equipment which will have a small dent on their profit. Emissions trading European Union's rewards businesses and organisations, which reduce their CO2 emissions and penalises those that exceed limits. Introduced in 2005, the scheme takes in about 12,000 factories and plants responsible for about half the EU's emissions of CO2. Under the system, European Union governments set limits on the amount of carbon dioxide emitted by energy-intensive industries and if they want to emit more CO2 than their quota, they have to buy spare permits but most supermarkets stores do not manufacture and this means that they will have to use eco friendly methods of business and equipment. Tesco has already proven that they are committed towards being eco-friendly, â€Å"Tesco Plc, the world's No.4 retailer, plans to spend over 100 million pounds with British green technology companies over the coming year as it steps up its drive to halve carbon emissions by 2020.† (http://uk.reuters.com/article/idUKTRE61203720100203) Environmental health Noise, swimming water, rare species and emergency response -these are just some of the areas covered under the extensive body of environmental legislation that the EU has established over the decades. EU has set binding limits on emissions of fine particles known as PM2.5. Released by cars and trucks, these microscopic particles can cause respiratory diseases. Under the new law, EU countries will have to reduce exposure to fine particles in urban areas by an average 20% by 2020. In 2007 Tesco received the Top online green award for their zero-emission delivery vans. Sustainable development Sustainable development has long been one of the overarching objectives of EU policy. EU leaders launched the first EU sustainable development strategy in 2001 and updated it in 2006 to tackle shortcomings and take account of new challenges. Since then there have been significant efforts in terms of policy. Now the focus is on putting policy into practice in to UK's market. As Tesco manly sells general groceries they are affected by the European Union's environment policy, in a way that it has to source materials from the suppliers who obey and follow the European Union's environment policy, this means that Tesco has limited span of potential suppliers.

Study On The Forms Of Vat And Tax Finance Essay - Free Essay Example

Sample details Pages: 10 Words: 3050 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Introduction VAT is a broad-based tax imposed on the expenditure of consumers when they purchase goods and enjoy services. It is collected on behalf by businesses which are registered to charge the tax in stages on the value added from the manufacturing to retail level. The businesses in turn account for the tax so collected at the end of every month. Don’t waste time! Our writers will create an original "Study On The Forms Of Vat And Tax Finance Essay" essay for you Create order It is not all goods and services that attract VAT. Some are exempted under the law (e.g. commercial rental establishment, dwelling, the rendering of financial service, the provision of transport, etc). For this reason, when consumers purchase such commodities or enjoy these services, they are not required to pay VAT. Registration for VAT is obligatory for all manufacturers, wholesalers, importers and service providers irrespective of business turnover. Registration of businesses in the retail category however, depends on a qualifying threshold of Eth birr 500,000 annual turnover or sales. The VAT Law (Proclamation No 285/2002) also permits voluntary registration if the person regularly supply or render service at least 75% to registered persons. It makes possible for businesses to benefit from the advantages which VAT registration offers. To qualify for voluntary registration, a business must have a fixed place for conducting business, keep proper accounting records and be able to file regular and reliable tax returns. The administration of VAT has not been with out challenges, in Ethiopia starting from registration to its administration and compliance VAT has got its own strength and weakness this paper is trying to discuss on it and propose solutions to those weaknesses. 1. Registration The VAT proclamation stipulates that for the registration of persons to qualify to charge the tax, they must at least make taxable transactions of not less than Eth birr 500,000 within the year. This provision in the Law makes few persons eligible for registration to charge VAT. To avoid registration for VAT most businesses deliberately understate their sales or may split up businesses to avoid meeting the registration requirements. Consequently, there are pockets of businesses that may not be registered. This makes these businesses more attractive to customers because their prices are not VAT inclusive, putting VAT registered businesses at a disadvantage. The registration threshold specified in the VAT Law is so high that businesses with the same category but under reported annual turnover will fall under different price set up. In addition to that some businesses that meet the registration requirements may not be well organized and structured to operate the VAT. The VAT req uirements of basic record keeping may not be met. Due to the low levels of literacy, business men and women may possess the business acumen and may informally operate the business without necessarily keeping business records for the purpose of the tax. The VAT Service has continuously engaged taxpayers and businesses in educational programs which inform them about their obligations. These have been carried out with the view to helping traders understand the complexities of the tax system so that they can co-operate with tax authorities. Also, businesses are asked for their input in formulating special schemes to improve tax collection. This collaboration has been so successful that some key members of the trade associations are made part of formulation of new policies on tax educational drives. Some of these programs are seminars, facility visits, visits by VAT officers and education on the offences and sanctions in the VAT Law. Officers also attend meeting of trade associations in order to educate them and also to answer questions on the problems they face. 2. Tax Invoices A pervasive feature of the VAT system is the specially designated invoice. VAT invoice authorized by the VAT Service, the government agency that oversees the administration of the VAT. In Ethiopia, any charge of VAT must be accompanied by a VAT invoice. The law makes it an offence for VAT registered businesses not to issue the VAT invoice when they make taxable supplies. There are two situations where a registered supplier may be relieved of the obligation to issue a VAT invoice, the first involves retail sales to unregistered persons, according to the directive by the authority to be provided that a receipt or simplified form of VAT invoice other than formal VAT invoice, and the other one is waiving the registered persons obligation to issue any VAT invoice covering cash sales if the total amount does not exceeding Birr 10. VAT invoices leave an audit trail that assist not only in curbing tax evasion but also in monitoring activities of registered persons. They also provide a valuable source of information for use by other tax types. The right to claim input taxes, checks both over and under invoicing and limits the activities of smugglers who would normally have disposed of their goods in bulk to VAT registered persons. Businesses in the retail sector are selective in the issuance of the approved VAT invoice, preferring instead to issue their own invoice and thereby avoiding the tax. This problem is so pervasive that it is more unusual for a customer to be issued with an unauthorized invoice than with the approved invoice. Associated with this problem is the challenge of charging VAT on supplies made. Businesses in the retail sector who deal directly with consumers find the additional VAT charge a burden and whenever possible avoid charging VAT making their prices lower. The VAT Electronic Cash Register (ECR) is a specially designated wireless portable terminal which aids in simple VAT transactions and returns submission for businesses and it wa s started to introduce and implement for the last two years. The ECR can issue a VAT invoice in a short time with only basic information about the transaction. The terminal also keeps a record of all sales therefore eliminating the need to keep special records of sales. The ECR also addresses the need to issue VAT invoices with every transaction because it automatically issues a receipt for every sale and keeps a dealer receipt for confirmation. In addition, it has the ability to file returns electronically when the accounting period is over, thereby eliminating challenges associated with return completion and filing. Therefore this project should have to get a serious attention to implement through out business transaction to overcome the problems arise from avoiding VAT invoice. 3. VAT return form Following registration for VAT, all tax payers are required to submit a VAT return every month VAT data is based on the VAT return form. In addition to the tax payer identifiers (name, TIN, VAT number and the tax period), the form requires the tax payer to provide information in 23 defined boxes. Of these 23 boxes only 8 boxes are supposed to contain primary data relating to sales and purchases for the period. The remaining 15 boxes are designed to include computed figures. The actual VAT data base however includes at least three additional fields which are not shown on the VAT form used to generate reports and records. These boxes are for use by the tax assessment officers and should not be accessible by data encoders. Since VAT is based almost exclusively on self-assessment, the primary data on input and out put declared by the tax payer is rarely queried at this stage of the process. During tax audit stage, however, the primary data which defines the extent of VAT liability a re queried and this may result in additional assessment. There is considerable scope for improving and simplifying the VAT form. As noted above, the tax payer is required to provide primary data in only 8 boxes. The distinction between some boxes is negligible especially since they are subject to the same rate of VAT. Some are also redundant and should remove. Data entered in these boxes are never validated, and in any case is re computed by the system. The form also lacks a basic ledger approach. Ideally, credit brought forward from an earlier tax period should be the first item of a VAT return. Tax computation, where possible, should be simplified. Taking these issues in to consideration, a much simpler VAT return form that can be provide the tax payer information on one side of a single page and easy to check is proposed. The existing form, being spread over two sides of a page is more difficult to be visually checked for consistency. 4. Tax payable for the tax period The tax payable is the difference between tax charged on taxable transactions under article 7 (commonly referred to us out put tax), and the allowable tax creditable under article 21 (commonly referred to us input tax or input credit). The tax payable on import of goods generally is paid at the time of the import independent of any VAT return, whether or not the importer is also a registered person. For imports of certain services, tax is payable by the customer as a reverse taxation. Registered persons must file returns and pay tax on monthly returns basis. Any net tax payable for the tax period generally must be paid by the due date of the return for that period. If the registered persons deductible input tax for the tax period exceeds the out put tax payable for that period, the excess is subject to refund. Due to the low levels of literacy among businesses in this category, non submission of returns is rampant. These businesses find it time consuming and an imposition to fill and submit VAT returns. Linked to this problem is the inaccurate completion of the VAT returns. In order to comply with the tax laws, these businesses may fill in the return forms differently from actual transactions carried out. Businesses in the retail sector find it difficult to account for and pay the VAT due because of cash flow challenges and lack of proper records. VAT charged and collected may not be recorded and so at the end of the accounting period, accounting for the tax sometimes proves to be difficult. Coupled with this problem is the submission of repayment returns to avoid paying tax due. Repayment returns are returns that show the business in a credit position. It is the policy of the VAT Service to encourage voluntary compliance with the VAT law in order to create an enabling environment for the collection of the tax. However, the VAT proclamation makes provision for sanctions for various offences and accordingly the Service has not hesitated to prosecut e recalcitrant persons who go contrary to the Law as a last resort. For some categories of businesses, the formulation of special schemes and educational programs has failed to make them comply with the VAT Law. They repeatedly flout tax laws by failing to issue the prescribed invoice, not submitting returns and not paying the VAT due. When these offences occur repeatedly then the sanctions are applied. Some the sanctions are penalties, interests, court fines and prison terms and distress actions. 5. Tax credit and Tax Refund VAT is the difference between output tax and input tax. The tax paid for the merchandise and Capital goods at the time of purchase/import/production are subject to be deducted from the tax collected from the sale of goods and services. If such input taxes are not offset from output tax within five month, and if the taxpayer is continuously in credit position for at least five months, such the taxpayers can claim refund of such unadjusted input tax. Regular exporters are entitled to claim refund on the monthly basis. Input tax credit and tax refund system is a beauty of VAT. Some criminal type taxpayers have been issuing false invoices to the fraudulent taxpayers collusively that have resulted in phony refund and exaggerate input tax claims on the one hand, and suppressed local sales and inflated export on the other hand. The self policing features of VAT system have not yet been realistic in Ethiopia in terms of check and balance between sellers and buyers. In order to halt s uch fake refund claims, ERCA has recently adopted a policy that mandatory to enter all purchase bills of such claimants to cross verify data, and to generate miss matched report that will help to investigate the transaction trail of the taxpayers involved. Moreover, the taxpayers who have higher credit balance over the years and who have claimed tax refund have a possibility to be selected for the audit and investigation on a priority basis. 6. VAT Audit The basic audit selection methodology is risk management. Risk management requires the need to strike a balance between applying effective controls to protect revenue while ensuring that compliant taxpayers are not over-burdened with compliance costs and requirements. Theres need therefore for a comprehensive strategy and program that applies risk-management principles, coupled with critical taxpayer services and compliance initiatives. This will require identifying major risks and prescribing ways and means by which these risks will be addressed together with the criteria for evaluating progress in reducing the identified risks. The process of audit planning shall start with the preparation, prior to commencement of the audit activity, of a written plan containing; (I) a list of prioritized risks and issues identified; (ii) The data needed to test those areas of risk; and (iii) A list of interview questions for inquiries with the taxpayer, and/or their authorized repre sentative. Risk Management application in tax will be as per the Standard Integrated Government Tax Administration System (SIGTAS) Audit Risk selectivity criteria. Risk Management consists of a comprehensive approach to determine potential non-compliance areas and allocate resources accordingly. Tax auditors are secondary assessors. Primary assessors are the taxpayers themselves. Due to poor information and resource base, Ethiopians tax auditors are not capable enough to detect tax evasion and in many cases, they are unsuccessful to bring the tax defaulters within the law. Private sector is getting smarter day by day as compared to the public sector; hence there is low probability of being penalized for the cause of tax evasion due to improper application in the selection of taxpayers for audit and investigation and poor individual as well as organizational capability of the tax authority. ERCA is facing some difficulties in making VAT system institutionalized. The quality of services and audit and investigation has been questioned time and again in terms of tax yield and procedures to be followed due to in efficient auditors with poor technological backup. Businesses do not attach importance to communicating material changes in business to the VAT Service. Issues such as discontinuation of business, change in location or address, changes in ownership are not communicated to relevant tax authorities. This results in misclassification of businesses and creates difficulties when there is the need to audit or correspond with the business. Tax officials are not been so effective to enforce stringently on rampant non-compliances. ERCA has been striving to invest in an integrated information network and data bank among Custom Department and Revenue Investigation and other government organization to enhance organizational capability E-filing system and Risk Engine Module has to be institutionalized to reap its benefits. 7. Administrative Capability of ERCA Ethiopia has been deliberately and consistently adopted tax reform program to strengthen regulative and administrative capability of the tax administration. The then Value Added Tax Department and other tax collection branch offices were merged to domestic tax branch offices, and integrate the data base of VAT for the purpose of income tax assessment, submission of tax identification number and other tax administration facility. Recently ERCA is restructured in light with changing demography of taxpayers, varied nature of business, and growing demand of services to the taxpayer. Reforms in hardware factors like policy formulation, law enactment, infrastructure development, and organizational restructuring are abundant, but reforms in software factors like system improvement, culture development, skill enhancement, attitude and behavioral changes in human resources is lacking in Ethiopian tax administration. In short, the professionalism is lacking in tax administration as compar ed to the revenue risks. Some of the high risk area in terms of revenue leakage and non-compliance are service sector, proprietorship firm, and consultancy and professional service oriented firms. Taxpayers commit financial crimes through non-registering of their business, under disclosing of income, under reporting of their transaction, and under payment of their taxes. ERCA has been able to figure out the problem and the vulnerable areas, Hence, the next initiatives will be to handle such problems properly along with desired professionalism. ERCA should continue its reform endeavors in the days to come. The newly introduced performance based system Balanced Score Card (BSC) has a high bearing on the overall productivity of ERCA and it has been effective in motivating and making employees accountable to their performances. Conclusion There are some issues and challenges to be dealt with. Continuation of existing Balanced Score Card (BSC) , and the development of positive image of tax administration in the society have also been the challenging tasks before ERCA has been striving to deal with such challenges and been focusing on taxpayer education and consumer awareness campaign. Apart from this, procedural simplification in filing of return, payment of taxes, and assessment of taxes are also agenda for reform. Scaling up investment for ICT sophistication, transformation from manual operating system to e-system, organizational restructuring and reengineering of ERCA, separation of tax audit and investigation from enforcement service, decentralization of service delivery mechanism and establishment of separate Human Resource Development (HRD) Section to focus on enhancing the capability and integrity of auditors are some initiatives taken by ERCA. The informal retail sector is one part of the VAT administra tion that poses a lot of challenges to the VAT Service in its effort to administer the tax. However, this sector also holds a lot of promise for the economic growth of the country, in that it is the small retail shop that would ultimately grow to become the big wholesale or manufacturing business. Supporting these businesses to grow by assisting them to account for the tax and to keep proper business records will help them also collect more revenue for the state. Ultimately the VAT system could be described as a self-assessment system that depends on registered persons to collect the tax from consumers and account for it to the VAT Service within a month of collection of the tax with minimum paper work and interference from the Tax Authorities. However, when a sector like the informal retail sector is concerned the system has to be designed to suit their peculiarities.

Leadership Project Management - 1237 Words

Leadership Paper This short paper is about leadership and management. The initial part of this paper will explore the qualities of leadership and its affect on project management. The next section will investigate some of the CEO s management styles and their comparable success rates within industry. The reflection of project management s code of ethics affect on leadership in general concludes the research presentation. The writer concludes with his own summation of leadership. Leadership Effective leaders are rare. They are created through the trials and tribulations of managing or working with people in a variety of settings. Most good leaders have had their fair share of hard knocks that awakened them to the greater†¦show more content†¦The attention given to this process empowers the leadership skills of each member of the team. Empowered leaders facilitate action and results, often better than anticipated. 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