The Causes and Seriousness of Panic Disorder and Agoraphobia Free Essay Example, 1000 words

Panic disorder is a wide spectrum and other than panic attacks and agoraphobia, it also includes claustrophobia, fear of losing control, claustrophobia, rescue object, loss sensitivity, medical reassurance and reassurance from family members. There is not much empirical support to attribute the role of other factors to constitute the spectrum of panic disorder. Another extension to the spectrum of panic disorders is non-clinical panic attacks. This clinical entity is important because like panic disorder, it is also associated with a generalised anxiety disorder (Tulla et al, 2009). Shared relationship of emotion regulation difficulties makes generalised anxiety and panic disorder fall into the same spectrum of clinical symptoms (Tulla et al, 2009). Panic disorder has a bimodal distribution. The highest incidence occurs in late adolescence followed by another peak in the third decade of life (Daniels, 2006). Panic attacks can be either fearful or non-fearful. In the latter group, th e attacks occur without the element of subjective fear. Chen et al (2009) conducted a large study to examine the prevalence of the non-fearful panic disorder. According to this study, non-fearful panic attacks constitute about 30% of panic disorder. We will write a custom essay sample on The Causes and Seriousness of Panic Disorder and Agoraphobia or any topic specifically for you Only $17.96 $11.86/pageorder now The age of onset and frequency of symptoms are similar to fearful panic disorder. But the symptomatology varies, in the sense, symptoms associated with fear like shortness of breath, depersonalisation, smothering, trembling and anxiety are classically absent or occur in a reduced form. Also, this form of panic disorder is less associated with agoraphobia or other comorbid mental illnesses. In this study, recall bias and response bias are suspected to have affected the prevalence rates of non-fearful panic disorder. The causes of Panic disorder are not well established. Some attribute hereditary and parenting aspects to the development of the disorder. It is not known whether specific parenting behaviours increases the vulnerability of the condition in the offspring.

Personal Statement Personal Leadership Essay - 1107 Words

I am still trying to figure out who I am and where I fit into the world of working. Attempting to discover what I enjoy as well as my strengths and weaknesses has been a constant struggle for me. According to Greg Thomas, â€Å"every positive and healthy change that has ever occurred in human civilization has only come about by great struggle† (2011, p. 3). In the future, I hope this pays off for me. As a future leader, it is essential for me to evaluate the skills I currently possess and what skills I must strive to acquire. Personal leadership is not only the aspect of leadership that is the easiest to control, but it is also the most important to me. In my eyes, the most difficult aspect of personal leadership is â€Å"establishing a clear path† (Thomas, 2011, p. 3). I have developed many short term goals for myself, like finishing school. However, my long-term goals are very vague due to not knowing where I ultimately want to end up. For example, I want a jo b I enjoy doing. Unfortunately, I cannot specifically say what job that is or even what field it is in. The other area of personal leadership that is a weakness for me is a â€Å"lasting legacy† (Thomas, 2011, p. 6). This is not something I am focused on or will ever be focused on. I know it is something that will either happen or not happen. For right now, I am focused on me and what I need to do to better myself. I have many strengths as a personal leader. I believe â€Å"that there is a spiritual element to life†Show MoreRelatedPersonal Statement : Personal Leadership1401 Words   |  6 PagesSelf-awareness is beneficial to any individual who is learning to become a better leader. Reflecting on personal leadership allows one to identify leadership strengths and recognize weaknesses in leadership styles which all build on becoming a better leader. From the multiple assessments I have done, I have recognized patterns in my leadership style showing I have balanc e in my leadership qualities. 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International Financial Reporting Standards -Myassignmenthelp.Com

Question: Discuss About The International Financial Reporting Standards? Answer: Introduction Wesfarmers is an Australian Company and a conglomeration of other companies with vast interest in coal mining, fertilizer manufacturing, chemical, industrial and safety products manufacturing. Wesfarmers is the largest company in Australia by revenue collection. In the year 2016, it received revenue of AU$ 65.98 billion overtaking rival companys such as Woolworths and BHP Billiton. It is also listed at no. 171 in the fortune 500 companies in the world making it one of the biggest company in Australia and globally(Insights into IFRS, 2016). Wesfarmers was founded in the year 1914 to help west Australian farmers in services and merchandise. It was listed in 1984 in the Australian Securities Exchange. The company is headquartered in Perth, West Australia and also has interest in New Zealand, United Kingdom, Bangladesh and Ireland. In 2001, Wesfarmers became a freely traded company with open ownership; it diversified its interest by acquiring other activities and businesses (Improving business processes, 2011). The divisions in which Wesfarmers invested in included; Cole, after purchasing the Cole Group in a takeover move worth, A$ 22 billion, the largest in Australian history. Others included in business were; home improvement and office supplies, department stores, Kmart and Target departmental stores, chemicals, energy and fertilizers and resources such as Cole and allied. Former interests were in Insurance(Van Greuning, Scott and Terblanche, 2011). Wesfarmers Company is the largest employer in Australia. The company employs more than 220000 people in Australia and around the world. Key personalities in Wesfarmers Company Limited are Michael Chaney- Chairman Richard Goyder- CEO Divisional performances The financial results have improved drastically over the years to strategically put Wesfarmers as a leading company in terms of profitability. It has become the largest company in Australia in terms of revenue collection beating large companies such as BHP Billiton. Coles revenue dropped in 2017 from 216 albeit marginally while the return on capital employed also dropped. Home Improvement For home improvement the revenue increases from $ 11.57 billion in 2016 to $13.56 billion in 2017. This is a significant yet promising revenue increase for the division(Alexander, n.d.). Department Stores Revenues for the department stores reduced in the year 2017 albeit marginally from 8.62 billion in 2016 to $8.57 billion in 2017. The drop is attributable to hard economic position in the financial year. Office Works The revenues in this department increased in 2017 from $1.85 billion in 2016 to $ 1.96 billion in 2017. Earnings before interest and tax also increased in 2017 as compared to 2016. Industrials The revenue for this division increased from $4.67 billion in 2016 to $5.16 billion in 2017. The overall financial performance for the company is better in 2017 than the previous year. Industry trends As a leading multinational company in Australia, its competitors are also doing quite well. The profit for the year ending 2016 was $ 2.35 billion which makes it among the most profitable companies in Australia. This is a good company for the Australian investor or any other potential investor willing to invest in a company that leads in the industry. As a company with interests predominantly in Australia and New Zealand an investor will be willing to invest in this company(Insights into IFRS, 2016). Current business strategies and point of difference in target market For Wesfarmers, the business strategies are usually expansion coupled by efficient products and service deliveries. Due to a very competitive market, it is important to differentiate the services provided to the customers and giving better services to the customers. Expanding means that the company will start a lot of stores strategically in areas where there are people interested in their products and services like where there are a lot of farmers (Heesen, n.d.). Skills required Wesfarmers has employed 220000 people with different skills set worldwide. It is also the biggest employer in Australia. As a leading conglomerate company, the company employees all set skill to help it in various divisions (Lusthaus et al., 2014). These include engineers, industrial chemists, accountants and even doctors. This are the skilled employees, however, it has employed many more semi-skilled employees especially in its department stores, Cole and industrials(Roode and Leith, 2009). Strengths of management team Key personalities in Wesfarmers Company Limited are Michael Chaney- Chairman Richard Goyder- CEO For Michael Chaney, the chairman of the board of Wes farmers, he has brought stability in growth and decision strategy of the company (Bradley, n.d.). As an executive with years of experience in companys management, Michael, is credited for making the company what it is today and the leading Australian company in terms of revenue collection. In 2017, the company under the able leadership of Michael has reported an increase of 22.1% in profits to $2.83 billion. Richard Goyder has been instrumental in running the day to day activities of the company. With a strong management team working directly under him, he has been instrumental in expanding the company and therefore a corresponding increase in profits (Reading, 2002). The management strength is manifested in its diversity and experience of the management team(Roode and Leith, 2009). Profitability ratio Ratio Formula 2017 2016 Net profit ratio Net Income * Net Sales 2873/68015 =4.22% 407/65850 =.06% Return on assets ROA = Net Profit Average Total Assets 2873/40837= 7.00% 407/41394= 9.8% Return on Equity ROE=Net profit/ shareholders equity 4.33% 4.17% This shows that the company is fairing on well in terms of profitability index in 2017 and in 2016. Liquidity ratio Ratio Formula 2017 2016 QUICK Ratio Current assets-inventory/current liabilities 0.93 0.93 Current Ratio Current Assets/ Current Liabilities 0.3 0.3 Wesfarmers may be facing liquidity problems as the above liquidity ratio shows because the yard stich for a safe company should be 2:1 for current ratio and 1:1 for quick ratio. The ratios for this company show a struggling company in terms of liquidity. Current management structure The company uses functional organizational structure. This is the management structure that the company employs.. Although this type of structure was very useful in terms of efficiency in the processes related to the production of mass production goods, it is now considered as a model for efficient project management(Van Greuning, Scott and Terblanche, 2011).. When anWesFarmers employs a functional structure, the functions to be performed are grouped together. For Example, Wesfarmers has the following departments, such as sales, marketing, human resources, accounting, etc. It is a vertical structure as each functional department within Wesfarmers is integrated vertically from the bottom to the top of the organization. Thus, the companys head of finance is in charge of the work of all the team grouped in the department of his specialty. Within the functional divisions of an organization, employees tend to develop a specialized set of tasks and usually their members share the same profession. This is why Wesfarmers has adopted this type of management structure. This facilitates the operational efficiency of each group; it can also lead to lack of communication among the various functional groups within the organization, making it slow, inflexible and bureaucratic(Van Greuning, Scott and Terblanche, 2011).. A functional management structure is more suited to the production of standardized goods and services in large volume and at low cost. On the other hand, functional organizations are likely to develop efficiency improvements for the vertical integration of their activities, so that products can be distributed and sold quickly and at low cost. Ownership structure Being a listed company, Wesfarmers has so many shareholders. According to the 2016 balance sheet the company had a shareholder base of approximately 530,000. The total shareholders equity in 2016 stood at 55.5% while debt stood at 44.5%. This shows that the debt in the capital structure is still manageable(Van Greuning, Scott and Terblanche, 2011).. Remuneration trends Most companies that have been listed in the ASX have linked remuneration to profits. The changes in both long term and short term remuneration should be aligned with profit changes. As any other company in the ASX, West farmers has been facing challenges from shareholders on the need to effectively structure executive remuneration, which is a call for the company to be open on how much executive and management are being remunerated. This is why as a listed company, it is a requirement for this company to make a remuneration report available to its shareholders. Some of the trends that have affected Wesfarmers are the two strikes rule and shareholders activism which has increased the proportion of LTI executive remuneration. Second, one of the primary LTI instrument issued is the LTI instrument when it comes to performance rights. Shareholders of Wesfarmers are concerned when non financial non market hurdles drive bonuses, and particularly when the those factors are not related to shareholders wealth creation. High earners from last year are Michael Chaney who chairs the group and Richard Goyder who is the Managing Director and CEO of the group. The two took home millions of Dollars worth of salaries and bonuses.(Van Greuning, Scott and Terblanche, 2011). Non wage related benefits for employees Some of the benefits that employees of Wesfarmers get are :Free days for employees on the day of their birthdays or family birthdays, or accompany them in difficult times of loss of a loved one. Social benefits: insurance, retirement plans, aid to the education of children, payment of transportation costs and food. Assistance in training and training that is not directly related to our daily work as languages, literary or other workshops and that the worker considers necessary for personal development. Volunteer activities promoted by the organization and with free time for employees to carry out such activities. Emotional salary is a key factor in retaining talent. More and more people choose a company to work for factors that go well beyond the salary issue. Flexible schedule, ie, meet the eight hours but without strict opening or closing time, what is really important is to do our work without having to be eight hours in an office. Except for the most closed minds, the world understands that meeting a schedule is not synonymous with productivity. Wesfarmers has already started rolling out such programs. Teleworking; highly valued by the new generations of workers, accustomed to the use of computer tools, but it is also an important benefit for parents who have sick children or relatives and find it difficult to reconcile work and family life. This is still in the pipeline for the company. Aid in the development of the professional career; the most advanced talent management organizations train their employees to develop it. They help them financially in the payment of some training or make it easier for them to attend these training courses(Van Greuning, Scott and Terblanche, 2011). Conclusion As we have seen above , Wesfarmers has been having liquidity problems for the last two years. In 2016 and 2017, the company registered current ratios of 0.93 in the two years. This is way much below the recommended ratio of 2. Thus Wesfarmers can improve its liquidity by reducing overheads costs and other operating costs (Rothwell, n.d.). For example, the company can negotiate better terms for financing funds, long term insurance e.t.c. Second, another way of improving liquidity is by selling unnecessary assets, for example, Wesfarmer can sell off old equipment (Padgett, 2012). The company has some divisions that are not performing well such as Cole division, the profit for this division decreased in the 2017 financial year. The company should therefore do more marketing for this division and also hire more experienced management team to steer this division back to profitability. Another way of improving the companys profitability is by pegging remuneration of executives to the companys profitability (Sherman and Zhu, 2006). Executives have been getting a lot of money from their salaries and bonuses, with the current economic factors not withstanding. Therefore, any increase in salaries and bonuses paid out to the board and senior management should reflect the improvement of profits for the company (Heesen, n.d.). References Alexander, D. (n.d.). International financial reporting and analysis. Bradley, J. (n.d.).Improving business performance with Lean. Elliott, B. and Elliott, J. (n.d.).Financial accounting and reporting. Financial reporting. (2003). London: BPP Pub. Heesen, B. (n.d.).Effective strategy execution. Holtzman, M. (2008).What's new in financial reporting. Florham Park, N.J.: Financial Executives Research Foundation. Improving business processes. (2011). Boston, Mass.: Harvard Business. Insights into IFRS. (2016). London: Sweet Maxwell. Lusthaus, C., Adrien, M., Anderson, G., Plinio, G., Carden, M. and De Marulanda, N. (2014).Organizational Assessment. Ottawa: International Development Research Centre. Padgett, C. (2012).Corporate governance. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan. Roode, M. and Leith, K. (2009).Financial reporting. [Pretoria]: [Salt and Pepper]. Reading, C. (2002).Strategic business planning. London: Kogan Page. Rothwell, W. (n.d.).Performance consulting. Sherman, H. and Zhu, J. (2006).Service Productivity Management. Boston, MA: Springer Science+Business Media, LLC. Van Greuning, H., Scott, D. and Terblanche, S. (2011). International financial reporting standards. Washington D.C.: World Bank.