Admission Essay for Master of Public Administration Program

Public Administration, as a field, had always captivated me right from my undergraduate days. I believe my curiosity for this field comes from my family. Both my father and my uncle were politicians. During my early days, I used to go to my father’s office where I had a great chance to observe different kinds of people with various jobs and interests. This was the first time I learned how mutual interests bring people together. When I understood how public relations work naturally, it forced me strongly to study and comprehend the complex theory of politics. After finishing high school, I made up my mind to pursue a career in Political Science. For this reason, I was enrolled to Istanbul Bilgi University’s Political Science program. After†¦show more content†¦The society is moving towards a large-scale economy and there is an exceptional increase of free trade and exchange all around the world. This fact has brought vast opportunities to build up newer policies , wide-range political programs and methodologies in the field of public administration. I would like to contribute to this challenging environment after completing the necessary education. My intention is to supply well-rounded ideas which would possibly contribute to public administration in my home country. I am determined to provide meaningful and finest solutions to diverse problems of public administration. Consequently, my goal is to successfully complete master of public administration and serve society as a high quality public official. In order to achieve my career goals, I have to study and internalize the current developments and new policy strategies in public administration, and political applications in different geographical areas of the world. A Masters Degree will grant me the necessary theoretical understanding, and will also provide me with an in depth idea of realistic approaches in decision-making process and research skills to allow me develop exceptional ideas. I would like to discover facts about various areas such as health administration, leading health problems in developed and developing countries, global healthShow MoreRelatedWashington State s Primary Land Grant University1017 Words   |  5 PagesWashington State University Washington State University, or WSU, is a public research university located in Pullman, Washington. WSU is the state s primary land-grant university that was founded back in 1890. It is known for excellent agriculture, pharmacy, neuroscience, chemical engineering and veterinary medicine programs. The university is usually ranked within the top 150 high research facilities. The undergraduate enrollment is around 25,000 and the graduate enrollment is around 5,000, makingRead MoreA Study On Norwich University Essay1087 Words   |  5 Pagesstudents, such as those from the Corps of Cadets program, have separate residences. Norwich University offers over 30 academic programs, 20 varsity sports teams and a large amount of clubs and organizations for students. They have nationally recognized academic programs and departments. This includes the nationally recognized David Crawford School of Engineering, the Army ROTC approved Nursing program, the Emmy award winning Communications program and the National Security Agency approved ComputerRead MoreThe University Of Texas - Pan American1052 Words   |  5 Pagesdoors with an inaugural class of just 20 students. Over the next 90 years, the university grew to become the tenth-largest public institution in the state of Texas, hosting more than 20,000 students who study fields like biology, business, and computer science at the school s Edinburg campus. The tremendous growth of this institution has seen it transition from the smallest public school in the state to one of its major research institutions. It is also one of a handful of schools to serve studentsR ead MorePerceptions of African American Women1308 Words   |  6 PagesPERCEPTIONS OF AFRICAN – AMERICAN WOMEN. AFRAM # 23 ESSAY #1 AND 2 By †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Laney College bennethosuorji@yahoo.com Presented November 2, 2009 To †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ African American Studies Dept. Laney College This Assignment is presented in partial fulfillment of the AA Degree. Dr. Mae C.  Jemison. I am taking some classes that will eventually qualify me to major in Astro - Physics, or Chemical engineering, I also want to work with NASA and train as an astronaut. It was amazing to knowRead MoreThe Critical Issues of Malaysian Education System2047 Words   |  9 Pagesintroduction of the matriculation system, students aiming to enter public universities are required to finish an additional 18 months of secondary schooling in Form Six and sit the Malaysian Higher School Certificate (Sijil Tinggi Persekolahan Malaysia, STPM); equivalent to the British Advanced or A levels. Since the introduction of the matriculation program as an alternative to STPM in 1999, students who completed the 12-month program in matriculation colleges (Kolej Matrikulasi in Malay) can enrollRead MoreMichigan State University and Texas Christian University Essay1805 Words   |  8 PagesMichigan State University Michigan State University is located in East Lansing, Michigan.It is a public research university. The colors of Michigan State University are green and white. Michigan is affected by the Great Lake’s region, winter and summer climate is moderate. Currently, Michigan State Universitys campus covers a total of 5,200 acres, of which two thousand acres have been developed. A total of 556 buildings on campus: where 100 academic purposes, 131 for agricultural purposesRead More Teaching in America Essay3668 Words   |  15 Pagescollege and university system do not complete the program they enter. (1) That so many students should be admitted, then lost along the way, is an unacceptable defect rate. General Interest There is a vast literary corpus on the subject of what is wrong with the teaching system. It ranges from alarming reports in the popular press to practical and anecdotal accounts, to what passes for scholarly reportage of research backed by significant public and private grants. The popular press is, perRead MoreMotivation Letter Sample6058 Words   |  25 PagesRespected Sir/Madam, I, (Your Name), currently in my first year at (XYZ) College, would like to apply for a 6 month internship for a post in the marketing department of your reputed company. I am currently pursuing my Masters in Marketing and at our college, we understand the importance of gaining practical knowledge which will complement the textbook knowledge and help a student gain a wider perspective of the subjects. During this course I have found that I am decently skilled in the art ofRead MoreResearch Paper Marketing Plan12383 Words   |  50 PagesXavier University | School of Nursing Master of Science in Nursing | Clinical Nurse Leader Marketing Plan Prepared By | Shannon Cliff, Nick D’Urso, Katie Hamann Table of Contents Executive Summary 3 Situational Analysis 5 Analysis of Internal Environment 5 Analysis of Customer Environment 10 Analysis of External Environment 18 SWOT Analysis 28 Strengths 28 Weaknesses 31 Opportunities 33 Threats 37 Marketing Goals and Objectives 39 Goal 39 Objective #1 39 ObjectiveRead MoreEssays for the American Pageant, 14th Ed.11068 Words   |  45 PagesEssays for The American Pageant, 14th ed. Part One 1. From the perspective of Native Americans, the Spanish and English empires in America had more similarities than differences. Assess the validity of this generalization. Response Strategy It is important to develop a clear thesis on the validity of the statement at the outset of the essay. A good essay could be developed on either side of the issue or in support of a middle-of –the-road position. Supporting paragraphs should be

Story of an Hour - 848 Words

Story of an Hour Kate Chopin s the Story of an Hour includes a vast amount of literary devices. Irony, foreshadowing, personification, imagery, symbolism, metaphor and repetition are some of the major literary techniques used by Chopin within this short story about a woman named Mrs. Mallard. Although the story covers only one hour in the life of the main character, the use of these various literary techniques present the theme of the story to the reader in a very entertaining manner. The Story of an Hour is primarily a story of great irony. Irony is first demonstrated when Mrs. Mallard who has a serious heart condition finds out the news about the sudden death of her husband. Although she appears upset and goes to her room†¦show more content†¦This again shows how depressing her life really was with her husband. Visual imagery is used in the story by Chopin to help the reader create an image of the words and scenes she is presenting in the story. As an example of this imagery she writes: there were patches of blue sky showing here and there through the clouds that had met and piled one above the other in the west facing her window. With imagery, she also helps us feel the miserable world Mrs. Mallard lived in. She carried herself unwittingly like a goddess of victory. Chopin also includes symbolism as a literary device when Mrs. Mallard stares out the window of her room. The view through the window is symbolic of a new world with no restrictions and limitations now that her husband is dead. She also used symbolism when she said, patches of blue sky showing here and there through the clouds. Her ultimate death due to a heart attack is also symbolic of the loss of her love for her husband. The basic symbol of the story involves the new life she would be able to live alone. Divorce was rare in Mrs. Mallard s days, but the news of her husband s death offers her a chance at a new beginning. She carried herself unwittingly like a goddess of victory. This symbolizes the strength that Mrs. Mallard had during this time period, and shows that she will conquer obstacles in her future. Chopin uses repetition to emphasize a particular idea. For instance, when she said, free,Show MoreRelatedThe Story Of An Hour And The Story Of An Hour2009 Words   |  9 PagesWomen are taught from a young age that marriage is the end all be all in happiness, in the short story â€Å"The Story of An Hour† by Kate Chopin and the drama â€Å"Poof!† by Lynn Nottage, we learn that it is not always the case. Mrs. Mallard from â€Å"The Story of an Hour† and Loureen from â€Å"Poof!† are different characteristically, story-wise, and time-wise, but share a similar plight. Two women tied down to men whom they no longer love and a life they no longer feel is theirs. Unlike widows in happy marriagesRead MoreThe Story Of An Hour854 Words   |  4 PagesIn â€Å"The Story of an Hour† we are taken through a journey. The journey is the thoughts and emotions going through Mrs. Mallards (Louise) mind. The journey only takes an hour, so everything moves at a fas t pace. Louise seemed to process the news of her husband’s death without an initial element of disbelief and shock. She goes right into the reaction of grieving for her husband. She quickly begins to feel other emotions. At first she does not understand them. The journey is a way that Louise comesRead MoreStory of an Hour1203 Words   |  5 PagesThe Story of an Hour 1. There are many themes in The Story of An Hour; ‘heart trouble’ – which describes not only the physical affliction of Mrs Mallard but also the emotional suffering in her marriage. Three other themes that are prominent within this story are; death, freedom and oppression. Though, the themes of freedom and oppression can be seen as the main themes within this story, as we see the character of Mrs Mallard – a Mallard is a type of wild duck, which can be seen as being symbolicRead MoreThe Story Of An Hour1414 Words   |  6 Pagesarticle would be bad satire, a bad argument. Chongyue and Lihua’s â€Å"A Caricature of an Ungrateful and Unfaithful Wife† distorts Kate Chopin’s â€Å"The Story of an Hour† through imaginative exaggeration of character interaction, emotional ignorance, and its simplification of the characters and the text. Firstly, there is no evidence in the text of â€Å"The Story of an Hour† to suggest that Louise Mallard has been at all unfaithful to her husband. One sentence within the article suggests that some readers have sensedRead MoreStory of an Hour619 Words   |  3 Pages â€Å"The story of an hour† is a short story written by Kate Chopin. According to Wikipedia, she was born Katherine O’Flaherty on February 8, 1850, in St. Louis, Missouri. She was an American author of short stories and novels. She is now considered by some to have been a forerunner of feminist authors of the 20th century. â€Å"The story of an hour† was written on April 19, 1894 but was originally published in Vogue on December 6, 1894 as â€Å"The Dream of an Hour†. It was first reprintedRead MoreThe Story Of An Hour1169 Words   |  5 Pages â€Å"The Story of an Hour† is a story that in a few pages creates commentary, emotions, and thoughts about a simpl e yet very important part of every civilization. It is quite amazing that a short story written over a hundred years ago is still relevant to our society today. Every successful civilization has had some form of marriage, and while this story is to many criticizing the institution of marriage, I believe that people could see this dichotomy of oppressor vs oppressed that this story triesRead MoreThe Story of an Hour1203 Words   |  5 PagesAyodeji Ilesanmi Ms. Pape English 1302.626 February 23, 2012 Part One: Alternate ending to â€Å"The Story of an Hour† â€Å"Someone was opening the front door with a latchkey, it was Brently Mallard who entered, a little travel stained, composedly carrying his grip-sack and umbrella. He had been far from the scene of the accident, and did not even know there had been one. He stood amazed at Josephine s piercing cry; at Richards quick motion to screen him from the view of his wife† (Chopin, 16). Read MoreThe Story of an Hour960 Words   |  4 PagesIn The Story of an Hour, Kate Chopin suggests that in certain scenarios, the death of a loved one may be a blessing in disguise. Possible situations may include an abusive relationship, or an unhappy marriage, as the story suggests. Although the circumstances throughout the story might lead the reader to believe that Louises husbands death would cause her great pain, ironically, when she hears the news, she feels a sense of euphoria. This suggests that death may not always cause agony. LouisesRead MoreA Story Of An Hour1289 Words   |  6 PagesMost stories have more than one conflict, some bigger than others, but all important as a story progressives to the very moment everything clicks and comes together. After that point, the story starts to wind down, lose ends are tied, and the reader gets the satisfying feeling of a happy ending. The Story of an Hour is not your typical short story; but is similar to others in the way that conflicts are the leading force behind a short story. This story starts with Mrs. Mallard finding out any wife’sRead MoreThe Story Of An Hour1283 Words   |  6 Pagesâ€Å"The Story of an Hour† For this story, I will use Mrs. Mallard as the example, and will discuss her challenges and struggles. According to the text, she was â€Å"afflicted with a heart trouble, so based on that alone we know that she struggled with delicate health issues. The narrator further described her as, â€Å"young, with a fair, calm face, whose lines bespoke repression and even a certain strength.† The ‘lines’ or wrinkles of repression that he speaks of is most likely caused by the stress of suppressing

The Psychometric Test and the Employee Selection Process...

The Psychometric Test and the Employee Selection Process Most employers want the ‘perfect fit’ for any position vacant for recruitment. They always tend to want the best man suitable for the job, technically and interpersonally. The common ways of recruiting an employee is by application forms, curriculum vitae, and interviewing sessions. Most candidates are polite at interviews just to put across a good impression to the interviewer. Just interviewing someone is not enough to know if you have the right person for the job. Ability can be relatively easy to assess through interviewing and skills testing. Testing interpersonal skills is another issue. To reduce the risk of hiring the wrong person, the use of psychometric†¦show more content†¦According to Nick article, it wholeheartedly agrees with the fact that psychometric tests are a very efficient part of the selection procedure in an organisation. However it also states that psychometric tests have yielded good results at a high percentage in the business sector. He discusses how they were used during the First World War to vet the soldiers. He explains the different ways psychometric test are used to identify different aspects of the individual. Thee different ways included stress tests, which were used to evaluate an individual’s ability to handling pressure. While others, are used to probe inner machinations of the mind. The said most common type of psychometric test used in the World War I was the Myers Briggs. The Myers Briggs test is a technique that claims to produce a representation of person’s preferences using four scales. These scales include the following: . Extraversion/ Introversion . Sensate/Intuitive . Thinking/Feeling . Judging/Perceiving The scales are combined to produce 16 personality types. The recruiting officers accept the most suitable personality trait. The article also states that although the psychometric test may be used to find the right person for the job, it may also be misleading as the only way to access whether a person is suitable for the job is by actually doing the job. COMMENT The use of psychometric tests is veryShow MoreRelatedPsychometric Tests And Why Do Employers Use Them?1582 Words   |  7 PagesIntroduction What are psychometric tests and why do employers use them? Psychometrics came as a consequence from the theories in psychology which tried to find out if there was a way to measure a person’s intelligence.The first types of the psychometric tests were developed by Sir Francis Galton in the late 1800’s, and were later modified by psychometricians James McKeen Cattell and Charles Spearman. Today, psychometric tests are usually used by employers in recruitment and selection process in order to measureRead MoreThe Different Forms of Psychometric Tests Essay1365 Words   |  6 PagesForms of Psychometric Tests Describe the different forms of Psychometric tests commonly used by employers to assist in employee selection and comment on the advantages and disadvantages of their use. Since the beginning of civilization, employers have testing prospective workers in order to select suitable candidates. Original tests would have been a rigidly controlled standardized system of examinations. However in 1883 Galton produced the first psychometric testsRead MoreA Summary of Modern Practices in Employee Recruitment and Selection Methods1451 Words   |  6 PagesA summary of modern practices in employee recruitment and selection methods Business revolves around people. It’s the people in the business that run it so therefore it’s always important to have the best employee to do it. That is why selection is such an important aspect of any organisation, small time or bigger. It is fundamental to the performance of any business or establishment that the personnel that it employs are competent to fill the role, and enhance the companies overall performanceRead MorePsychometric Test Essay2725 Words   |  11 PagesRecruitment and selection are the core activities of the HR department in any organization as it is directly linked to the employees of the organization. These processes are not only important but also the most difficult as it involves a lot of cost on the part of the company. Unlike the recruitment process the selection process also involves a lot of cost in terms of interviews and tests in conducting the selection of the employees.. Many of us already know that the psychometric tests are commo nlyRead MoreHow Do Industrial Relations And Employee Contracts Impact Recruitment And Selection Procedures?1558 Words   |  7 Pagesskills necessary to tackle the job at hand. For example, Apple outsources thousands of manufacturing jobs to countries like China, Korea in order to save time and money. B. How do industrial relations and employee contracts impact recruitment and selection procedures? Industrial relations and employee contracts play a big role in recruiting and selecting the right staff. Making sure the workplace terms and conditions are equally fair and having these conditions set out in an agreement, contract or awardRead MoreAttracting Talent and Recruitment, CIPD1149 Words   |  5 Pagesï » ¿Introduction This paper sets out the proposed method for attracting talent and recruitment of a new HR Officer. In order to ensure that there is a structured induction programme and handover period, it is recommended that the recruitment process be set in motion in the near future. Four Factors that will affect our talent planning Budget Forecasting The amount of work that will be coming in i:e seasonal work for retailers A company constantly should be forecasting to help prepare for changesRead MoreRecruitment and Selection Strategies for the Client1325 Words   |  5 PagesRecruitment and selection strategies for the client Introduction The most vital recruitment and selection strategies used to attract potential employees include recruitment agencies, adverts in local media, employee referrals, and newspaper advertisements. As the workforce continues to be highly diversified, issues arise on whether various organizations use different recruitment strategies to get the right individuals for the job. It is evident that companies succeed by employing various recruitmentRead MoreHrm. Recruitment and Selection Report1715 Words   |  7 Pagesand selection report. February 2008 1770 Words Human Resources Management. Human Resources Management (HRM) is described by Michael Armstrong in A Handbook of Human Resource Management Practice as â€Å"strategic and coherent approach to the management of an organizations most valued assets - the people working there who individually and collectively contribute to the achievement of the objectives of the business† . One of the main parts of HRM is the process of recruitment and selection, whichRead MoreThe Importance Of A Suitable Individual For A Position1537 Words   |  7 Pagesfor a position they currently hold and are finding out that it can be difficult to monitor and ensure that all possible steps are taken to ensure that each interview carries the same validity and reliability. Ensuring that every stage in the selection process has the same validity and reliability is imperative so that all candidates being evaluated are measured against the same standard and have an equal opportunity of being selected. This also ensures that the organizatio n gets the best possibleRead MoreRecruitment Selection: Myers Briggs1568 Words   |  7 Pagesis a psychometric test used to measure psychological preferences in how a person makes decisions and perceives their surrounding environment. A mother-daughter pair, Katherine Briggs and Isabel Myers developed the test based on the typological theories of Carl Gustav Jung. After more than fifty-years of research and development, the MBTI has become the most widely used and respected personality tool. Eighty-nine companies out of the US Fortune 100 make use of it for recruitment and selection, or

The Legacy Of Rape, By Nancy Toping Bazins And Jane...

To explore the legacy of rape as a tool in war Nancy Toping Bazin’s and Jane Harmovit Lauter’s philosophy of domination is important to know. The philosophy of domination is the underpinning of all patriarchal institutions from domestic institutions, to government, and the military. Another usefully theory is one succinctly described by Katrina Lee Koo in â€Å"Confronting a Disciplinary Blindness: Women, War and Rape in the International Politics of Security†. Koo says, â€Å"the nation, the state, allies, and enemies intersect with gendered identities†¦sexual enslavement is politicized violence against women’s bodies that is both state-sanctioned and premeditated† in effect, during war time there is an intersection of gender with religion, ethnicity, nationality and anything else that represents the opposing side as an â€Å"other†. In this sense an assault on the women of a nation is a direct assault on their state, their culture, the ir religion, their ethnic group as well as the men in it. In her essay â€Å"Revisiting the Issue of Korean ‘Military Comfort Women’: The Question of Truth and Positionality† Hyunah Yang says, â€Å"by invading women’s bodies, rape attempts to possess the enemy’s property and leaves a rift in the most fundamental ground of the symbolic system that sustains the enemies group identity†¦belief that the woman’s body is a field underpinning the family, ethnic group, and/or nation† (61). During the comfort system the Japanese army was not only in control of the Korean

Curriculum development Free Essays

An Analysis of Philippine Educational Curriculum† To attain the progress of our country, the quality of education is one of the factors which contributes to the development of our economy and to have the quality of education, the national curriculum should set a clear direction and should have an empowered teaching force manned by excellent teachers that are properly guided by supervisors, and conducive learning environment that fosters learning among students that includes materials, technology. ND learning resources. In our country, it takes ten years of schooling under basic education and students armorial started going to school at the age of 6 in elementary level, starts in Grade 1 up to Grade 6. We will write a custom essay sample on Curriculum development or any similar topic only for you Order Now And proceeds to High School which takes 4 years and after finishing that long years, at the age of 16, they continue studying to higher education. Compared to other developed country, it takes 12 to 13 years of schooling in the basic education. As what Vive read, it says that the longer years of schooling means more learning, more time spent to master skills and develop competencies, deepening of learning outcomes, and more opportunities to be exposed to the learning environment. How to cite Curriculum development, Papers

Contingency Management Accounting Control -Myassignmenthelp.Com

Question: Discuss About The Contingency Management Accounting Control? Answer: Introduction Prada Group is a leading luxury fashion house in Italy founded in 1913 and it operates in the global market as well by taking into account all the social and cultural factors (Pradagroup.com, 2018). The three products of the operations that have been considered here include leather handbags, travel accessories and perfumes. The first two products constitute of a significant portion of the business earnings of Prada Group. The contribution of perfumes is not enough; however, this product has been selected to find out the way the unessential product aids the profitability of the organisation. Estimation of selling prices, variable costs and contribution margins for the identified products: After conducting adequate research, it has been identified that the average price for each handbag in the Italian leather market is 50. In addition, as Prada Group is involved in selling quality products, the average price charged for travel accessories is 500. Finally, the average cost of each perfume for Prada Group is obtained as 45. As obtained from the annual report of 2017 of Prada Group, the variable cost identified is selling, general and administrative expense. The total selling, general and administrative expense is provided as 661,437,000, out of which it is assumed that 60% of the expenses are spent on these products only. Hence, the total selling, general and administrative expense on these products is 396,862,200 (661,437,000 x 60%). Out of this cost, 60% of the cost is variable and the remaining 40% is fixed. Hence, the total variable cost for the three identified products is 238,117,200. A certain percentage of the total selling price of each item is allocated to the variable cost of that particular unit, which is depicted as follows: Leather handbags - 40% Travel accessories - 50% Perfumes - 10% Based on the above information, the following table is prepared for arriving at the total contribution margin ratio: In addition, another table is prepared to determine the contribution margin and contribution margin ratio for each of the three products, which is represented as follows: Difference in contribution margins for the three identified products and importance of such difference: In accordance with the above two tables, it could be stated that with the help of contribution margin, the managers could ascertain the contribution of a product for covering fixed costs (Chenhall Moers, 2015). The main difference between the contribution margins of the three products is due to the variation in the selling price and sales volume of each of the three products along with the variation in variable cost. In case of leather handbags and travel accessories, the sales volume is higher; however, the selling price for each travel accessories is higher in contrast to the leather handbags. This has lead to the difference in profit generated from each item. On the other hand, the contribution margin for perfumes is much lower, since the volume of sales is lower in the market and the selling price is the lowest in contrast to the other two products. In auditing, it does not need extensive services that need to be undertaken. Thus, it is inherent to identify the difference in the contribution margins of the three products. In addition, such difference would help the managers of the Prada Group to identify the most profitable segment and accordingly, investment could be made to enhance those areas of business activities and operations (Kamal, 2015). Reasons for not producing the product only with the highest contribution margin: There are certain reasons that Prada Group would not produce only travel accessories, since it has the highest contribution margin and such reasons are described as follows: If the competitors come up with identical products at cheaper prices, the customers might switch over to them. As a result, the contribution margin for Prada Group would be minimised. Secondly, if the cost of raw materials for producing travel accessories rise, there would be increase in variable cost of the product as well. As a result, the contribution margin of that product would decline. Finally, diversification of product base would help in generating additional customers for Prada Group, since they could obtain various products from a single place. Not all the customers are prone to purchase travel accessories only; thus, the other products are included in order to maintain the profitability level of the organisation. Resource constraints for Prada Group and relevancy of these constraints on the identified products for decision-making: The possible constraints that could affect the decision-making process of Prada Group comprise of the following: Skilled staffs are the most significant resource constraint that Prada Group might face in order to carry out its business operations effectively. This is because there are various departments within the organisation, which include customer-handling department, storage department and many others (Otley, 2016). Hence, it needs to recruit skilled and competent staffs for carrying out complex tasks, which could have impact on future services. Another significant resource constraint is the availability of raw materials required to produce the final products. The suppliers might raise the prices of materials, which would increase its product cost in the operating market. Ratio analysis and economic profit: The following ratios are conducted with the help of the restated financial statements for evaluating the financial condition of Prada Group: According to the above table, it could be found out that the profit margin of Prada Group has fallen over the years due to the increase in operating cost and raw material price, while there is fall of product demand in the market. This is further supported by the inventory turnover ratio (in days), since the organisation is taking 215 days in 2016 to complete one inventory cycle. This is quite a longer time span and hence, it needs to minimise its inventory level in order to avoid inventory loss or theft. However, the current ratio of the organisation is well above the ideal standard of 2 in 2016, which denotes that Prada Group has adequate amount of idle working capital. On the other hand, despite the fall in earnings ratio and price earnings ratio below 1, the organisation is paying increased dividend per share to its shareholders, which denotes that it intends to maximise the wealth of the shareholders. The similar trend is observed in case of ratios based on restated financial statements, which implies that Prada Group is not enjoying healthy and competitive position in the apparel industry of Italy. Economic profit: Economic profit or loss is the difference between the revenue obtained from selling an output and opportunity cost of the inputs used. Thus, the opportunity costs are subtracted from revenues earned at the time of calculating economic profit. The economic profit for Prada Group for the years 2016, 2015, 2014 and 2013 is depicted as follows: In case of Prada Group, the economic profit for Prada Group has fallen over the years, which denotes that the organisation is struggling to maintain competitive advantage in the operating market. Options available to Prada Group: It is assumed that Prada Group is planning to install machinery for increasing its production level. Two machines are available to the organisation in the form of alternatives, in which various assumptions are made. The first machine would help in raising the overall sales volume of the organisation, while the second machine would focus on increasing the overall product quality. These assumptions are depicted as follows: Assumptions: Particulars Units Initial investment for machine 1 (2,000,000) Initial investment for machine 2 (2,700,000) Discount rate 10% Application of investment appraisal techniques on the available options: The following investment appraisal techniques are used for both the projects, which are depicted briefly as follows: Recommendations: Based on the above tables, it could be stated that the NPV for machine 1 is obtained as 1,039,862.33, while the same for machine 2 is 1,861,949. This measure is used in capital budgeting to analyse the profit level of a projected investment (Taleb, Gibson Hovey, 2015). The higher the NPV, the better is the profitability of the specified investment. In this case, the NPV is greater for the second machine, which signifies that Prada Group should choose the second machine for maximising its profitability and productivity. IRR is used in capital budgeting for similar purpose like NPV and if it is higher than the discount rate, it is considered as a feasible investment (Uyar Kuzey, 2016). In case of machine 1, the IRR is obtained as 17.9%, while in case of machine 2, the IRR is 21.8%. Thus, in terms of IRR, machine 2 needs to be selected. On the other hand, payback period denotes the duration within which the capital investment could be recovered. In this case, the payback period for the first machine is 5.93 years, while the same for the second machine is 4.48 years. Hence, by evaluating the techniques of investment appraisal, it could be inferred that Prada Group needs to select the second machine for increasing its overall sales and profit margin. References: Chenhall, R. H., Moers, F. (2015). The role of innovation in the evolution of management accounting and its integration into management control.Accounting, Organizations and Society,47, 1-13. Kamal, S. (2015). Historical Evolution of Management Accounting.The Cost and Management,43(4), 12-19. Otley, D. (2016). The contingency theory of management accounting and control: 19802014.Management accounting research,31, 45-62. Pradagroup.com. (2018). Retrieved 6 February 2018, from https://www.pradagroup.com/content/dam/pradagroup/documents/Financial-Report---presentation/2_FULL-YEAR-2016-results----12-Apr-2017/e-Annual%20Report%202016.pdf Taleb, M. A., Gibson, B., Hovey, M. (2015). Fifty years of Sustainability Accounting: does accounting for income in business sustainability really exist?.International Journal of Accounting and Financial Reporting,5(1), 36-47. Uyar, A., Kuzey, C. (2016). Does management accounting mediate the relationship between cost system design and performance?.Advances in Accounting,35, 170-176.