Organizational behaviour examples - Free Essay Example

Sample details Pages: 11 Words: 3299 Downloads: 4 Date added: 2017/06/26 Category Management Essay Type Analytical essay Did you like this example? This essay will consider key principles, theories and examples of specific organizational behaviour topics like personality, motivation and group and team working. All three themes are quite related to each other, because in a group or a team there are some people with different personalities and they all need those people need a motivation to work in groups or teams. To understand all topics, the essay is structured into three main parts. First, the explanation of personality, which is define as the distinctive and relatively enduring pattern of thinking, feeling and acting that can characterize persons response to his or her environment will be described. The secrets of motivations driving forces in individuals that affects their direction, intension and persistence of work behaviour will be explained further in the second section, and in particular the motivation will be reviewed. Finally the nature and behaviour of working in the team or a group will be discus sed. The main point in this essay will be to explain and consider the implications of personality, motivation at work and also group and team working. All over the world there is enormous number of organisations, like big worldwide corporations such as Coca-Cola, Microsoft, Apple or McDonalds, local companies such as Morrisons or Tesco, grocery shops around the corner or even clan of mafia, all of them have got several things in common, for example people with different personalities working in various positions and having the same ambition to increase output and profits. There are a lot of researches done how to improve job performance by different means and how to keep workers satisfied at the same time. But, why does managers must know what personalities of their employees are? Do workers have the same traits as their colleagues? What for personalitys revelation is useful for managers and their inferiors? How do the personality characteristics influence motivation at work? Why do some people find it difficult to work in a team, while others are a good team players? If you ask people What do you know about personality? majority of them might feel they understand and know the right answer, because we need to admit we use this term quite often. But what exactly is the personality? According to John Bratton (2007) personality is the distinctive and relatively enduring pattern of thinking, feeling and acting that characterizes a persons response to her or his environment. Personality rests on the observation that people seem to behave somewhat consistently over time and across different situations. Thus, the patterns of thinking, feeling and actions that are viewed as reflecting a persons personality typically have three characteristics. First, they are seen as elements of identity that distinguish that individual from other people. Second, the individuals behaviours seem to interconnect in a meaningful fashion, suggesting an inner element that shapes and directs behaviour. Third, the behaviours are viewed as being caused primarily by internal rather than contextual factors. Moreover, personality prescribes a group of original person characteristics, including emotions, motivation, valuation, interest, attitudes and competences. (Gordon 2002) Personality is possibly the area in psychology which assists employers to connect with labourers easily. Analyses of personality put these persons characteristics together to help managers to understand individuals. They also are admired the behaviour of others and want to know why workers act as they do and what makes them tick (Butt 2004). In the humanistic psychology the most common models of traits incorporate three to five broad dimensions or factors. The personality of humans is classified according to the characteristics supposedly produced by the dominance of one of the four humorous: black bile, blood, phlegm and yellow bile in the individuals bodies. Optimistic or sanguine people ar e cheerful and passionate. Melancholic people have a pessimistic temperament. Phlegmatic individuals are calm and unexcitable and lastly choleric people are bad-tempered and usually very irritable. Although subsequent research discredited the humoral theory, the notion that people can be classified into different personality types per is existing even not present. What is more, trait theorists therefore is trying to clarify various descriptors into a manageable number of the main personality traits that people display all the time, in order to understand and be able to predict human behaviour. Hans J. Eysenck (1916-1997), is well known British psychologist, who used analysis to devise his own theory of personality. According to his research, Eysenck concluded that normal personality can be understood in terms of three basic factors or dimensions: introversion extroversion, stability instability and psychoticism. Introversion refers to a reserved nature and the pursuit of solita ry activities, people which are introverts tend to be shy, thoughtful and risk avoiders. The opposite ones, extroverts, are likely to be sociable, spontaneous and be willing to take risks. Psychotism refers to an aggressive and antisocial nature, people are aggressive, cold, moody and unstable. Another Austrian physician Sigmund Freud (1856-1939) developed the influential psychoanalytic theory of personality. According to Freud, personality is made up three separate but interacting parts: the id, the ego and the superego. This research convinced that personality develops out of each persons struggle to meet persons basic needs in a world. Freud proposed that an individuals personality is determined by conscious, preconscious and unconscious brain activity, with the unconscious part of the mind exerting great influence on consciousness and behaviour. However, trait theorists have made an important contribution by focusing attention on the value of indentifying, classifying and measuring stable and enduring personality characteristics. But as has been argued elsewhere, researchers need to pay more attention to how traits interact with personality. There is a tendency for researchers to make predictions on the basis of a single measured personality trait without taking into account other personality factors that also might influence the action in question. While managers tend to think of diversity in terms of such factors as gender, ethnic origin or race, the variety of personalities in the workplace are also very important. Personality attributes determine how people communicate with other workers, whether they can work on their own without supervision, whether they behave ethically or not and more. John Holland best articulated the view that organisations should consider aligning the requirements of the job and the characteristics of the workplace with personality characteristics. At the present, awareness that organizations should focus on the degree of congruence between the individual and his or her work environment has expanded because of the need for workers to change and adapt to new work structures and employment relations. These include team working, individual performance and organizational culture. The major methods used by organizations to assess personality and predict work behaviour are interview, inventories, behaviour assessment, personality test and e-assessment. However, some critical organisational theorists argue that testing measures what is effectively stereotype of an ideal worker or manager. It might seem obvious that someones personality is a good predictor of job performance, but Frederick P. Morgeson, professor of Management at Michigan State University, says that the relationship between the two is often highly tenuous. One obvious criticism of personality tests is potential for faked answers as candidates seek to present themselves to employers in the best possible way. But the problems with persona lity testing run far deeper than this. According to Kevin Murphy, the professor of Pennsylvania State University, as predictors of a job performance, their validity is disappointingly low.. Nevertheless, while this might suggest that companies ought to reconsider their use of personality measures is making important hiring decisions and key appointments, Frederick Morgeson said that better ways to predict job performance include work samples, cognitive ability tests and structured interviews, all areas in which organizational psychology could greatly benefit human resource managers. Finally, personality assessment based on limited information can be very damaging to every organization. Indentify personality types are embedded only in the organization at the large and the inner tensions. Every human action must be carried out in a number of reasons. In most cases we do something because we want it to. And those desires form our needs. Need is the lack of the internal psychologica l or social sense. Then the individual finds out what he is lack of, he is trying to look for ways to meet his needs. Human needs are very different one of them is the essential necessities of life, such as their life satisfaction is a necessary condition for the support, while others are psychological, social or even philosophical nature. If our needs are being not satisfied they soon become the motives, motives which promote us to work, to make so action, to make changes. Motivation is the process which stimulates us to achieve certain goals. English and French dictionary of terms the word motivation describe as just simply what motivates, ect. Energy depended on individuals actions or the methods which help to increase the motivation of the individuals. I. Balciuniene suggests using the opportunity to separate two concepts motivation as noun and motivation as verb: work motivation is made from conscious and unconscious forces of rising energy, which involves connections betw een the task and individual and determines the behaviour and orientation in the work.; the impact of staff motivation we should call motivation and its effects on the methods and means motivation tools. (Balciuniene, 1996). Similarly those two terms are appointed by foreign scientists: Motivation the psychological feature that determines the degree of personal commitment. This includes all factors responsible for locating and supporting human behaviour in a certain obligation direction. And the statement of reasons is the management process which reflects the impact of the behaviour of people. (Stoner, Freeman, Gilbert Jr., 2000, p. 434). Motivation self and other personal call to operate in favour of individual or organization. (Neverauskas, Find, 2000, p. 66). Thus, Motivation as noun is defined as energy and as a psychological characteristic of the internal stimulation called incentive system, the driver of humans behaviour; motivation as verb the effect of motivation, promoti on, the process which encourages and directs to act. It is not enough that present activities are being coordinated the activities should be encouraged, motivating employees realize their mental capabilities better. Managers are willing to apply to each individual eligible employee motivation measures interested in the work, you should know that individual very well. Motives basis of human actins, which can be formed in some form when individuals needs cant be fully satisfied. So as the motives stimulate the person, it must: The goal must be worthy attention; The goal must stimulate; The goal must be realistic. The importance of motivation is very high. Motivation a behaviour promotion system leads human behaviour into the right direction and helps maintain a whole-employment period. Motivation is well thought action and it does not happen by itself. Promotion of growth potential, ability to assume responsibility for objectives of the organization itself is charact erized by humans. Task for managers is to help their employees to recognize and to develop them, as well as to make conditions and do practices so that employees in the company to achieve its goals, and together make him or her useful for the company. It is very useful to know at least the main theories of motivation, and be able to judge the relevance of them in particular contexts. Content theories of motivation assume that all workers possess a common set of basic needs. Process theories, on the other hand, explain work motivation in terms of a cognitive process workers go through before and during their behaviour. They assume that how individuals think about their work situation will affect their behaviour. The most well known theory is Maslows hierarchy of needs. Psychologist Abraham Maslow proposed that people have built-in set of five basic needs, which can arranged in a hierarchy such as physiological, safety, social, self-esteem and self-actualization as from in pyramid from the bottom to the top where going closer to the pyramids top the individual can find his high-order needs. Maslows theory of needs is based on the fallowing assumptions: one people ten d to meet their own needs, but it is not possible to fulfil all their needs so they have to reduce them and another is that all people have the same needs. Maslows pyramid of needs is a system in which the higher level of demand does not rise till the lower level needs is not satisfied. And he point out that people can simultaneously meet only one levels need at once. Although, this theory has some drawbacks in the practice. Critics say that people can simultaneously meet the immediate needs from different lever, for example, then individuals are having lunch they meet their physiological and communication needs. Others tell that this is an abstract philosophical theory and it cannot be suitable for specific individuals, because people are very different. Maslows need hierarchy appears to offer an advice to managers. But one of the major problems with his theory is that it is extremely difficult to identify which need is dominant at any given time. Without this information managers cannot confidently redesign the workplace or emphasize work-based learning to appeal to their employees self-esteem or self-actualization needs, for instance: this might not in reality be their main motivators. If managers really want to change and improve the outcomes of the work of employees, they must take an active role in the management of reasoning process. This is not what is happening just by itself. Furthermore, motivation is a complex phenomenon and to understand it is not so easy. The group or a team concept is one of the most important organizational developments to hit business since the industrial revolution (Manz and Sims 1993). Work groups are not something invented by management consultants. History shows that they have been part of human social development since ancien t times. For thousands of years men and women lived in small hunting and gathering groups, and later they lived in small farming or fishing groups. It is only in the last 200 years, with the advent of industrial capitalism and the development of the factory system, that small groups became the exception rather that the rule (Johnson 2000). In the international Words Dictionary, the word command is described as a small group of individuals with the intension to do a certain task. Hence, a group of people working together as a team is very important in the working situations and learnt things applicability and usefulness in specific situations is a critical feature. So team work key elements are cooperation, mutual support and balance of variety of different individuals in the group. Team working is a group of people, who are trying to use their all efforts to reach the same goal. According to V.Barvydiene and J.Kasiulis (1988) a group is a community of individuals, in which all me mbers are connected with same features like mutual activity, inter-communion, common interests and belonging to the same organization, while team is a group of people working together, where each members existence is very important to realize the same purpose and meet all needs of each group member. T.Tomosiunas (1999) says that Every individual in belongs to some various groups like family, groups of friends, school or work collective and so on. However, not each member of the group or a team can work harmoniously and successfully.. Author draws attention to the fact that an effective group activity can occur only if the group is able to concentrate and use all of the skills of each member in the team for organizations goals. Most group theory examines group outcomes in term of group performance and effectiveness. it was discovered that workers in a variety of agencies had a great deal in common and that the major component of that common experience lay in their experience with groups. Out of this recognition came the widespread use of the term social group work and the development of interest groups focusing on work with groups in a number of cities. The second discovery was that what was common to all the groups was that, in addition to the activities in which the group engaged, groups involved a network of relationships between the members and the worker, between the groups as a whole. His combination of relationships was called the group process. This second realization produced a search for deeper insights into these relationships, an attempt to describe them and to understand their dynamics (Reid 1981). The work of Maslow helped human relations advocates to clarify their perspective, with its focus on the interrelations between workers and the quality if the employment relationship. They suggest casual relationship between five core job characteristics (skill variety, task identity, task significance, autonomy and feedback) and the workers psycholog ical state. If this relationship is positive, it leads to positive outcomes. This model also recognizes the importance of learning to achieve motivation and outcome goals. Teamwork is usually considered an important factor especially in a workplace. However, there are some significant problems and difficulties that are experienced while building teamwork among individuals. In a broader perspective, there are issues such as cultural and personal differences, differences in future prospects, professional and workplace issues, social differences, education levels and gender disparities. Communication barriers, lack of training of employees on teamwork poor commitment from all stakeholders undermine the spirit of team work (Dyer, 1995). In teamwork, some individuals who hold a moderate point of view tend to believe that their teammates hold stronger and extreme views than them. They will eventually adjust their positions in view of the ones perceived to be superior-a conditional p henomenon referred to as a groupthink. This is normally a dangerous and risky way of working things out especially where critical thinking and consultation is required. Sometimes poor leadership and management skills can cause very negative impact in the group. Leaders are normally adamant about getting information from their junior colleagues and whenever they receive any, they are either brushed off or just neglected. In teamwork, every persons point of view should be taken into account. The reality is however different from what is expected in that some team leaders and coordinators tend to push for their own views to be accepted by the other members. Shapers and plants in teamwork are responsible for brainstorming the members of the team but they normally abuse this responsibility (Maund, 2001). Critical evaluations of team working focus on paradoxes and the effects of teams ideology and behaviour of workers. For effective realization of the benefits of teamwork, there should be a well coordinated form of communication. Evaluate all the benefits of groups and team working, insensibly, the question arise is always a team work is better than an individual one. The answer is no. It should be remembered that both group and individual work has both advantages and disadvantages. Team work is useful when the solution is not obvious and we need information, knowledge and abilities of other people to achieve the objectives and range of ideas. Meanwhile, for simple tasks with clear problems and goals, or problems with the logical, subtle reason enough to solve need only individual efforts. To sum up, therefore, that the basic principles of team work are cooperation, listening to other team members opinion, recognition, trust and mutual aid. Individual work often reaches gain for a worker while groups product is both individual and teams performance. In conclusion then, the main point is that in this modern society everything depends on job performance. In the working field a lot of things depend on individuals. To make work successful people need to have motivation and good team. The members in those groups need to be similar, the need to consider their personalities in order to avoid failure. A successful team has to be balanced and cooperative. And all these features combined together give us a great organizational world. Don’t waste time! Our writers will create an original "Organizational behaviour examples" essay for you Create order

The Need to Minimize Plagiarism - 761 Words

When writing scholarly work, we have most of the times based our work from experience, research, and experimentation. Most of the times, we also have tendency of using other people ideas. However when we use other people’s ideas, we have to ensure that they are given due credits for their work or idea. If that does not happen, we start flirting with cheating, dishonesty, or simply put integrity issues. Why is that? The answer to that question is plagiarism. Plagiarism is the intentional or unintentional use of other people’s work or idea without giving them their due credit. This not only limited to scholarly environment, but to everything from literature to music. For example, there is a female pop star in the United States who†¦show more content†¦Walden University has a very defined code of conduct for its student body, and it our responsibility as scholar-practitioner we follow it and apply all aspect related to that. One of the most important and piece that would guaranty our academic integrity is to ensure that we are not plagiarizing (Laureate Education, 2012). Few ways, we can do that is to develop a good note taking techniques, properly citing other scholarly sources, provide concrete applicable examples, or master paraphrasing effectively. After reading the article Tainted: The manipulation of fact in America by Crossen†¨(1994), and compared it to the paragraph below, Consumers must trust that the research that has gone into the manufacture of new drugs is safe. But it is hard to know if a conflict of interest between doctors, researchers, and the drug company stockholders has tainted the results. Biomedical researchers incorporate strict rules of science into their work, which is examined by peers. Yet the resulting information can be warped for five reasons: ending a study too soon, not publishing negative results, publishing results too early, skimming over or ignoring drawbacks, and â€Å"buffing† the results by showing them in the best light (Crossen, 1994, p. 167), I noticed that the student committed plagiarism. And only cited the last sentence which failed the attempt to paraphrase. There are two sentences, which stand out more that the others. TheyShow MoreRelatedPlagiarism And Politics : Plagiarism927 Words   |  4 PagesSaroj Dahal Professor Dr. Sharon Manna GOVT 2305-71005 19 Sep, 2016 Plagiarism and politics Plagiarism is an act of stealing someone else’s original ideas or thoughts (either written or oral) and copying it either exactly in a same way or remixing it, without giving credit to the owner. In today’s world, Plagiarism is omnipresent. People try to imitate others watching them in TVs, movies, and songs which tend them to plagiarize knowingly or accidentally. It can be found in almost all fields likeRead MoreAcademic Ethics : Academic Integrity1080 Words   |  5 Pagesapproach, and that should reflect in the field of research and academic publishing. The person should also be committed to maintain the paramount academic standards in his or her work. Moreover, these should be vehement avoidance of cheating or plagiarism in the works by the individual. Thus, academic integrity stands for the way in which a person conducts himself or herself within the domain of academic work. Academic integrity is reflective of personal integrity of the individual as it involvesRead MoreQuestions On Writing Improvement Logs1008 Words   |  5 Pagesrevisions to the log because revisions must be submitted separately. These rewrites must be clearly marked, i.e. Revision: Paper 2 or Revision: Exit Essay Practice 3.) Logs are worth 5% of the grade and when implemented correctly, will help students minimize these mistakes. *On rare occasions, there are a minute number of students who do not have major grammar, spelling, or word choice errors. If you are one of these students, you will have to revise essays and make major changes to improve the essaysRead MoreEthical Standards Of Scientific Research1443 Words   |  6 Pagesintellectual property interests while encouraging collaboration. Most researchers want to receive credit for their cont ributions and do not want to have their ideas stolen or disclosed. Plagiarism is defined as the practice of taking someone else’s work or ideas and passing them off as one’s own. The number one reason plagiarism is unethical and in complete violation of the student code of conduct in which every college and university states in their school manual is because it implies the occurrence ofRead MoreMapping a Business System1608 Words   |  7 Pagesbalancing processes. (Hutchens 2001). Hutchens states that â€Å"reinforcing processes enhance change with even more change in the same direction. Hutchens also states that these processes can produce exponential growth as well as collapse. There needs to be a balance to keep a system at a certain level of performance. (Hutchens 2001). It’s extremely important to always have a â€Å"checks and balances† system in place based on what Hutchens is stating. Purpose of the Causal Loop System Read MoreSurvival Guide: Rules to Live By1092 Words   |  5 Pagesand I want to avoid snacking while on the computer to avoid weight gain. I will go to the bathroom and get a tall glass of ice water before getting on the computer. Have a good relationship with your counselor, because you never know when you might need them. Invest in Simon Schuster’s book, â€Å"Handbook for Writers† and a good dictionary, because sometimes the spell checker does not help. This handbook will help you with audience, tone, purpose, and structure with all your writing assignments. Read MoreThe Internet Has Made Education Better For Teachers, Student And Parents851 Words   |  4 Pagesfaults. What are some solutions to problems such as cheating, plagiarism and the validity of the information online? Ethics, honesty, and fairness in online education are always concerns because of the quick internet transferring of information available to our students. There are numerous ways that educators can help minimize this problem. Some action steps that are readily available to online internet education are TURNITIN which is plagiarism detection software, remote live PROCTORING which uses webRead MoreCriticism of Benchmarking897 Words   |  4 Pagesbusiness processes to achieve dramatic improvements in critical, contemporary measures of performance . . . (Hammer amp; Champy, 1993, p. 32), benchmarking may be appropriate only where the process can be improved immediately by this method, and not need a complete redesign as provided by reengineering. On the positive s ide, Hammer and Champy do state that benchmarking can help a reengineering team by sparking new ideas, especially if companies are benchmarked from outside their own industry. RobertRead MorePlagiarism And Academic Dishonesty Prevention Over Detection And Punishment1614 Words   |  7 PagesProblem 8: Please speculate on why we decided to make a problem set on academic honesty. I feel this problem set was designed to target plagiarism/academic dishonesty prevention over detection and punishment. Answering the questions in the problem set would ensure the following things: 1. Students understand the meaning of cheating and plagiarism and how to avoid it. 2. Students are clear about the expectations of the class. 3. Students understand the importance of honesty and personal developmentRead MoreThe Digital Age And The Age Of Information Technology1615 Words   |  7 Pages The twenty-first century is known as the digital age and the age of information technology. In today’s digital world, students need to be fluent in the use of technology in order to be successful global citizens and educators need to facilitate this need. The use of technology in classrooms will allow for the integration of the four C’s, four critical skills necessary for the modern day student. The Partnership for 21st Century Learning lists these skills as communication, collaboration, critical

Hong Kong Moral and National Education Free Essays

Do you think moral and national education should be abolished? Moral and national education had recently become a hot topic in Hong Kong. Moral and national education  is a school curriculum proposed by the  Education Bureau of Hong Kong, it s transformed from the current moral and civic education. The Education Bureau stated that it is to cultivate â€Å"positive values and attitudes† in students. We will write a custom essay sample on Hong Kong Moral and National Education or any similar topic only for you Order Now Schools are forced to make it into an independent subject and teachers will teach according to curriculum given by the Education Bureau. However, the society suspected that it is brainwashing, they express their concerns through forming associations like Scholarism and marching. National Education should have included different perspectives for students to know more about their country and citizenship. Instead of letting students know about their country thoroughly, the information is carefully selected by the government. Of the 19 references, 18 of them were written by mainland Chinese. There are no references from local or foreign scholar, no diverse views and different interests. They are all one-sided view of China and neglected lots of important issues such as the development in human rights and democracy in China. Such references and handbooks are inappropriate to use as teaching materials. Hong Kong schools already have liberal studies, civil education and Chinese history, content of lessons are overlapped. Students are overburdened by homework, test and examination. Schools and teachers are rushing through the syllabus of HKDSE. Time is tight for both school and students, another compulsory subject is not needed. This creates more pressure and stress than the benefit it might have on the major stakeholders. The curriculum guide for the evaluation of student’s performance is also being worried. Students have to be emotionally touched in order to show their patriotism. It focuses students to dissemble or to fake their feelings in order to get higher marks, it is not a proper way of education. Along with contents that praises the Communist China, â€Å"advanced, altruistic and united governing body† with characteristics that â€Å"ensuring stable governance, protecting wholeness of country†. Students are to be brainwashed and to love their country blindly. Extreme nationalism and patriotism can easily leads to war just because of a little conflict (WW1). In my opinion, a moral and civic education curriculum committee should be set to draw up guide lines and design the teaching materials. It should be consist of trained teachers, parents and people from different parts of the society. The curriculum committee can also monitor the implantation of this subject or whether it should become a subject at school. With all the rejections and disagreements from professional teachers, parents and even students themselves, the government should understand their concerns and go for a more opened approach. How to cite Hong Kong Moral and National Education, Papers

Medibank Private Limited

Question: The analysis of the financial report of MEDIBANK Private Limited. Answer: Wolf, M. (2008).Fixing global finance. Baltimore, Md.: Johns Hopkins University Press. To: The Board of Directors From: MEDIBANK Private Limited Date: 31.05.2015 Subject: The analysis of the financial report of MEDIBANK Private Limited The MEDIBANK private limited business operation includes providing quality health care to their customers. The company focus on the large and the sustainable health care services that are required for the increment and the growth of the sustainability. It also keeps eyes on the future benefit claims which are arranged for enhancing the further cooperation. Thus it also helps in signifying the values that are requisite for the sustainability for the proper rising of the market competition (Droms and Wright, 2010). Thus it helps in signifying the overhead management and the values that are required for the proper continuation of the business operation and thus it also helps in the proper enhancement of the business operations that are carried out for the formation of the support for the organisation. Furthermore, the companys innovative ideas help the company to make progress with implementing the process in the organisation. The stakeholders of the company include shareholders, employ ees, community and other members associated with the company (Holton, 2012). The subsidiaries of the company includes Integrated Care Services Pty Ltd, The Travel Doctor TMVC Pty Ltd, IQ Consultants Pty Ltd, MEDIBANK Health Solutions Telehealth Pty Ltd, Fitness2Live Pty Ltd, Fitness2Live (UK) Ltd, MEDIBANK Health Solutions New Zealand Ltd, MEDIBANK Health Singapore Pte Ltd and MEDIBANK Asia Pte Ltd. The financial statement of the company shows the actual value of the company as well as its actual performance. The financial statements are prepared as per the accordance of the accounting standards and both by the subsidiary and parent company of the group. It helps the organization to structure their activities that helps in the creation of the proper growth for the company. The subsidiary statements help in the separation of the group which helps in claiming the increment of the profit in front of the parent entity (Horngren, 2013). Therefore, in the case of the MEDIBANK Private Limited, the claims on the profit could not be made by the company that are earned by the MEDIBANK Community Fund. Thus it helps in the creation of the significant differences that helps the company in the process of the evaluation of the considered risks. Therefore the consolidated financial statements are made by the parent organisation and the subsidiary organisation helps in the creation of the legal entity. Hence it also helps in the proper continuation of the safeguards for the appropriate prolongation of the rules and the policies in regarding the protection of information connected to the financial statements of the organisation (Kew and Watson, 2012). The funding options are available for the organization that exists for raising the funds of the organisation and thus financing their operating as well other activities of the organization (Kieso, Weygandt and Warfield, 2010). It also helps in the increment of the shares and the debentures from the public for the case of the increment of the funds. Debenture is a fund that the company provides fixed interests to the debenture holders and thus it also helps in completion of the debenture terms and the conditions that are required for the appropriate enhancement of the organisations obligations and therefore, the organisation helps in the provision of the interests for the proper creation of the profits for the company and thus for the others also (Kimmel, Weygandt and Kieso, 2007). The companies are also helpful for the purpose of raising the funds that are required for the solving the companys issues. The MEDIBANK Health Solution Pty Ltd is owned by the MEDIBANK Private Limited. The MEDIBANK Private Limited is an insurance company as well as the health company which helps in the provision of the shareholders that are helpful for the proper creation of the firm. Thus the infrastructural facilities that are created also helps in the improvement of the firms as well as the profit of the organisation. It can be achieved by the proper incurring of the losses that helps in incurring the losses that are required for the appropriate determination of the companys funds and thus it also helps in the creation of the losses that makes the investors and the other bankers to suffer a lot (Lambert, 2011). Thus the company also provides the facilities likes as the bonuses to the debentures and the shareholders of the company for the profits as per the case. Besides these all the things, the bankers and the investors also helps the company to raise the fund of the company that helps in the carrying out the fund gaining activities by the company. Source: (Anon, 2016) The financial statement of the organization provides significant information to the shareholders and the stakeholders of the organization. The financial reporting or the reports need to be aligned with International Financial Reporting Standards, and it is also published by the International Accounting Standards (Libby, Libby and Short, 2014). This is also prepared as per the Standards of Australia Accounting. The financial information of the organization discloses the corporate governance information is to capitalize on the business presentations, returns of the shareholders are seemed to be maximized and also its worth, to sustain the success and the development of the organization. It also incorporates risk supervision, corporate governance policies and practices including the process of risk supervision. The auditing group describes the financial information or the declarations of the company and also determines the exact value of the organization through its performance in their present market field. Sustainability of the company can be evaluated and determined by the given information in this financial statement field (McCarthy et al., 2012). The annual performance with its report need to be categorized as operational, financial, regulatory risks, and it incorporates the economic sustainability risks. The solvency risk of the organization may analyze with the assists of the financial leverage ratio, debt-equity and also to calculate the current ratio from the given information in this financial statements or the financial reporting. The proper income statement represents the profit, expense, revenue, and loss of the organization. It assists in determining the long term and short term performance of the organization like MEDIBANK Private Ltd. The financial statement of the company shows the non controlling interests that are paid on the shares that are outstanding. Non-controlling interests are the total sum that is remunerated on due shares of the organization within the fiscal year (McMillan, 2010. The non controlling interest is represented on their balance sheet of the company Depending on the acquisition the organizations determine the non controlling interests of particular exclusive property of acquiring. The surplus of the relocated consideration includes the sums of non-controlling interests to get hold of above the shares of the fair value of the organization to acquiring their net assets that are mostly recorded as the behavior. The intercompany transactions, unrealized gains and also the balances in between the group company need to be eliminated and also in this scenario; the unrealized losses are also reduced until the transaction is correctly supplied the manipulation of the transferred property or the tran sferred assets. The consolidated balance sheet of the group, as well as the firm like MEDIBANK Private Ltd, represents the non controlling interests (Robinson, 2009). The goodwill of a company is valued with the performance or enhanced operations of the company which indicates strong financial position of the organization. With the help of appropriate acquisition strategies the company would be able to achieve acquisition of the promising organization and building reputation in the market. The strong financial position of the company will lead to increase in the value, enhanced performance as well competing with other companies in the market (Rosen, 2005). The goodwill account shows in the balance sheet of the company for the year end. The acquisition strategy imposes considerable impact on the goodwill of the company. In bargaining the trader it can be either seller or buyer focus on maximum gain from the transaction. Therefore, in this case if the seller able to sell the product at the price fixed by him then it would be gain for him and is the buyer able to decrease the price of the product then it would be gain for him. The income statement sh ows the purchase and sale of the products and balance sheet shows the goodwill on the acquisition. Therefore, the financial statement of the company shows the purchase and sale of the products and services (Spiceland, 2009). MEDIBANK private limited also trade in the foreign market and hence it leads to foreign currency transactions. The company determines and evaluated risks in the foreign currency transactions in order to develop the company in the foreign market. The contacts, instruments derivatives and products are traded by the company. The consolidated income statement shows the exchange differences on the translation of the foreign operations (Weygandt, 2009). However, the risk rising from the financial apparatus of the group is risk of interest rate, risk of credit, price risk including liquidity risk and foreign currency risk. Different techniques and methods are used to manage such types of risks such as monitoring the exposure levels of foreign exchange risk, price risk and interest rate. The board agrees and reviews the policies to manage the risk which includes limits to trade in the derivatives, instruments derivatives and foreign currency contracts. The foreign subsidiary companies of MED IBANK private limited are the HATCHTECH Pty Limited and MEDIBANK Community Fund (Wolf, 2008). The foreign exchange trading is also shown in the income statement of the company for the year ended. The HATCHITECH Pty limited is a biotechnology organization which is an International federation of planning of health. Apart from this, the subsidiaries of the company are MEDIBANK Health Solutions Pty Ltd and Australian Health Management Group Pty Ltd. The financial statement of the company shows the current balances of the foreign currency transactions and ordinary shares issued by the company. The foreign currency risk refers to the risks that fair worth of the financial instrument would vary because of the changes in the rates of the foreign currency (Lambert, 2011). However, the investment in infrastructure and syndicated loans are managed externally and exposures of the currency are hedged by fund manager. The international equities are managed externally and half of the exposure of t he foreign currency is unhedged. The group has transactional exposure of the currency that arises from the purchases of the currencies other than functional currency. The transactions includes operational costs within other payable and trade that are minimal and the purchases of the foreign currency investment. Source: (Reuters, 2016) The financial statements of MEDIBANK private limited shows that the company is growing and shows positive results. The net income of the company is appropriate and the current ratio is above one which means that the company would be able to pay its debts (Kieso, Weygandt and Warfield, 2010). The share market price is also appropriate which means that the performance of the company is increasing in the current market situation. The MEDIBANK private limited provides increment benefits to their employee and appropriate training to them. The net income of the bank in the year 2015 is AUD285 millions and in the year 2014 it was AUD130.8 million. Therefore, the financial statements show that the company is having developing showing positive results and income (Kew and Watson, 2012). There the bank is earning income and generating maximum returns for their shareholders through internal trading and foreign exchange trades. MEDIBANK private limited would secure its position in the current mar ket environment and operating its business for the benefits of their stakeholders. References Droms, W. and Wright, J. (2010).Finance and accounting for nonfinancial managers. New York: Basic Books. Holton, R. (2012).Global finance. Abingdon, Oxon: Routledge. Horngren, C. (2013).Financial accounting. Frenchs Forest, N.S.W.: Pearson Australia Group. Kew, J. and Watson, A. (2012).Financial accounting. Cape Town: Oxford University Press. Kieso, D., Weygandt, J. and Warfield, T. (2010).Intermediate accounting. Hoboken (NJ): J. Wiley. Kimmel, P., Weygandt, J. and Kieso, D. (2007).Financial accounting. Hoboken, NJ: John Wiley. Lambert, R. (2011).Finance accounting. Philadelphia: Wharton Digital Press. Libby, R., Libby, P. and Short, D. (2014).Financial accounting. Maidenhead: McGraw-Hill Education. McCarthy, J., Shelmon, N., Mattie, J. and Gross, M. (2012).Financial and accounting guide for not-for-profit organizations. Hoboken, N.J.: Wiley. McMillan, E. (2010).Not-for-profit accounting, tax, and reporting requirements. Hoboken, N.J.: Wiley. Robinson, T. (2009).International financial statement analysis. Hoboken, N.J.: John Wiley Sons. Rosen, H. (2005).Public finance. New York: McGraw-Hill Irwin. Spiceland, J. (2009).Intermediate accounting. Boston: McGraw-Hill/Irwin. Weygandt, J. (2009).Hospitality financial accounting. Hoboken, N.J.: John Wiley Sons.