Are Bull Markets Supported By Rational Growth in Stock Valuations? :: Finance Financial Economics Essays

Introduction â€Å"The rich get richer† is a frequently heard adage in the United States, a country quickly associated with capitalism. US financial markets make headline news on a daily basis, so people are well aware when the domestic stock market’s indices rise or fall. Given the widespread distribution of information on the stock market’s performance, much excitement can easily be generated during a bull market, broadly defined as a trend during which stock prices are climbing. Does the publicity and excitement surrounding a bull market further perpetuate rising stock prices? A look at historic daily closing values for the S&P 500 index from January 2, 1997 to December 31, 1999 reveals overall growth of 99.35%[i], which on average indicates similar growth in the stock prices of the companies included in the index. Clearly, this three year period falls within a bull market, since the S&P 500 is commonly utilized to represent average performance of the stock market on the whole. A return of 99.35% on an investment is excellent and far exceeds the general return on â€Å"risk-free† investments like FDIC insured savings accounts or Treasury bills. [i] Percent change calculation derived from widely published market data Examination of Common Stock Valuation to Account for Rising Share Prices Like most economic evaluations, the decision to purchase a share of a company’s stock is based on an individual’s willingness to pay versus the current selling price of the share. Fundamentally, the willingness to pay is determined by a valuation of that share of stock. For a given share of common stock, the willingness to pay is, or should be, linked to the present value of the stream of future cash flows that the investor will receive from expected dividends and through any expected capital gain for selling the share at a higher price than at which it was purchased.[i] Thus, there are three main factors the affect the valuation of a share of common stock: future dividends, future market price of the share, and the discount rate used. [i] Fundamentals of Financial Management, Eugene F. Brigham & Joel F. Houston, Harcourt College Publishers: Forth Worth, 2001. (p. 409) Future Dividends Are Bull Markets Supported By Rational Growth in Stock Valuations? :: Finance Financial Economics Essays Introduction â€Å"The rich get richer† is a frequently heard adage in the United States, a country quickly associated with capitalism. US financial markets make headline news on a daily basis, so people are well aware when the domestic stock market’s indices rise or fall. Given the widespread distribution of information on the stock market’s performance, much excitement can easily be generated during a bull market, broadly defined as a trend during which stock prices are climbing. Does the publicity and excitement surrounding a bull market further perpetuate rising stock prices? A look at historic daily closing values for the S&P 500 index from January 2, 1997 to December 31, 1999 reveals overall growth of 99.35%[i], which on average indicates similar growth in the stock prices of the companies included in the index. Clearly, this three year period falls within a bull market, since the S&P 500 is commonly utilized to represent average performance of the stock market on the whole. A return of 99.35% on an investment is excellent and far exceeds the general return on â€Å"risk-free† investments like FDIC insured savings accounts or Treasury bills. [i] Percent change calculation derived from widely published market data Examination of Common Stock Valuation to Account for Rising Share Prices Like most economic evaluations, the decision to purchase a share of a company’s stock is based on an individual’s willingness to pay versus the current selling price of the share. Fundamentally, the willingness to pay is determined by a valuation of that share of stock. For a given share of common stock, the willingness to pay is, or should be, linked to the present value of the stream of future cash flows that the investor will receive from expected dividends and through any expected capital gain for selling the share at a higher price than at which it was purchased.[i] Thus, there are three main factors the affect the valuation of a share of common stock: future dividends, future market price of the share, and the discount rate used. [i] Fundamentals of Financial Management, Eugene F. Brigham & Joel F. Houston, Harcourt College Publishers: Forth Worth, 2001. (p. 409) Future Dividends

Frank Too Big Too Ignore Essay

â€Å"Income Inequality: Too Big to Ignore† Summary Robert Frank, a professer at Cornell University, published an article for the New York Times on October 16, 2010. The title of the article was â€Å"Income Inequality: Too Big to Ignore†. In â€Å"Income Inequality: Too Big to Ignore†, Frank argues that there are differences in the social classes of the American people and that it is having a negative effect on our economy’s growth. Frank explains that middle class citizens are in a struggle to maintain a good financial position. Meanwhile, the upper class citizens are spending copious amounts of money which makes it increasingly more difficult for the middle class to meet their basic needs. He says that the middle class are looking toward upper class citizens, comparing their posesions as well as their financial positions which makes the middle class feel financially unstable. Frank explains that the income gap between the classes are causing distress on marriages of American citizens. He states that divorce rates rise when people are in financial distress. in conjunction with finincial uneasyness, Frank explains that the willingness to ignore infrastructure is an effect as well as the relocation of lower class families to places that are further away from their places of employment. Frank concludes by how the income gap is not only unfair, but that it would be unwise to continue on the current path of income inequality. Connections Frank has a very bleak view of the economic status of America in which he shares with Herbert. One of the main evidence’s of this point is the comparison of Frank’s quote in which he states â€Å"By contrast, during the last three decades, the economy has grown much more slowly, and our infrastructure has fallen into grave disrepair.† (580) with Herbert’s quote â€Å"It will likely take many years, perhaps a decade or more, to get employment back to a level at which one could fairly say the economy is thriving.† (564) In comparison between Frank and Thomas, each author believes that there is something wrong with the system and that the American people need to do something about it. This can be justified within Thomas’ and Frank’s articles. Frank states â€Å"No one dares to argue that rising inequality is required in the name of fairness. So maybe we should just agree that it’s a bad thing – and try to do something about it.†(584). Thomas explains â€Å"We must also understand what got us here and the path that leads upward.† (570) Frank can also agree with Brandon King in the fact that America is still repairable. King states â€Å"If the Great Recession has taught us anything, it is that planning for the future by saving more and enacting policies that sustain economic growth are what will keep the American Dream alive.† In comparison, Frank believes that we need to consult the problem in order to repair it.

Analysis Of Guy De Maupassant s `` The Necklace ``

Guy De Maupassant s, The Necklace, is a short story about Mathilde Loisel, a middle-class wife, who is dissatisfied with her life and believes that she was meant to live as an upper-class woman. When invited to her husband s ball, she manipulates her way into getting a new dress and borrows her friend s diamond necklace. After the ball, she discovers the necklace is gone. Both Malthilde and her husband delay returning the lost necklace, and secretly buy a replica. They both struggle ten years of hardship to pay off the debt, only to reveal that the lost diamond necklace was not but costume jewelry. The short story contains many literary elements that helped give the story a deeper meaning and complexity. During the late 19th century, most of French society lived in a particular class structure. People, who lived below upper-class, believed that happiness was only attainable if there was money to go about. They held high admiration for materials, and that often left them dissatisfied with their lives. Research states that, â€Å"This is the world of the Parisian lower middle class, but could well serve as an allegory...where ambition, materialism, greed, and petty meanness are the main dynamic† (Kleine-Ahlbrandt no page). Guy De Maupassant s The Necklace portrays the Parisian class structure very well through the character of Mathilde Loisel, a woman who wished for materials only the upper-class could afford. One literary element that was used in the short story, TheShow MoreRelatedAnalysis Of Guy De Maupassant s `` The Necklace ``1681 Words   |  7 Pagessaid greed is the root of all evil was right. This is shown through irony in Guy De Maupassant’s short story, â€Å"The Necklace† in the fate of the main character Madame Mathilde Loisel and also her husband, Monsieur Loisel. The story about Madame Loisel reveals the effects excessive jealousy, ungratefulness, pride and greed have on the life of not only herself, but also her husband. Many critics have read â€Å"The Necklace† as a Cinderella tale in reverse. Like Cinderella, Madame Loisel lives a commonRead MoreAnalysis Of Guy De Maupassant s `` The Necklace `` Essay1463 Words   |  6 Pages Guy de Maupassant, a French writer, was born in August 1850 and died in July 1893, during which the Franco-Prussian war took place. Subsequently, many of his narrations were set during this war to describe its meaningless and disastrous aftermath to countless innocent people whose experiences were changed forever. He was known as a master of short stories and belonged to naturalist school of writers, in which he described human lives, along with society, in disillusioned and often pessimistic termsRead MoreAnalysis Of Guy De Maupassant The Necklace And Nikolai Gogol s The Overcoat1788 Words   |  8 Pageswhich it is produced and consumed, and this explains the incorporation of moral and ethical dilemmas in Guy de Maupassant’s â€Å"The Necklace† a nd Nikolai Gogol’s â€Å"The Overcoat†. The fact that the two stories are generally different is unchallengeable. However, a close scrutiny of character development reveals similar and different portrayals of moral and ethical dilemmas. In the context of this analysis, moral or ethical dilemmas are situations in which people must struggle with the â€Å"should or should not†Read MoreAnalysis Of The Necklace1358 Words   |  6 Pages â€Å"The Necklace† Analysis Plot Analysis - The plot analysis of (Exposition) â€Å"The Necklace† by Guy de Maupassant, take place in the late 1800s when Mathilde Loisel and her husband decides to go to a ball. The importance of the place is so you can fully appreciate how royal Mathilde is supposed to be at the ball, and let me tell you, she pulls it off. She was the most beautiful woman there, but surprisingly it wasn t the necklace that made her shine that night. She alreadyRead MoreFeminism In The Necklace1068 Words   |  5 PagesFeminist Analysis of Guy de Maupassant’s The Necklace. In recent decades, feminism has attracted attention from different individuals who fight for equal treatment of both genders. As defined by many researchers, feminism is the advocacy of equality between male and females. This concept began when people realized that the traditional roles of men and women provide a lot of injustice to women. According to Barry â€Å"The women’s movement’ of the 1960s was not, of course, the start of feminism. RatherRead MoreIrony in the Works of Kate Chopin and Guy De Maupassant1903 Words   |  8 Pagesirony as the cause of death Paragraph 5: The Necklace summary/analysis Paragraph 6: conflict and irony Paragraph 7: result of ironic twist Conclusion: Irony in Chopin and Maupassant Irony is a literary device wherein what the reader expects to occur does not and the events that transpire are wholly surprising. Authors throughout literary history have used this devise to surprise and entertain the reader. Kate Chopin and Guy de Maupassant both utilize irony in their respective short storiesRead MoreEssay about Country Lovers versus The Necklace886 Words   |  4 PagesIt is amazing how two short stories can be so similar but yet so different even when it comes to marriage and gender roles. These particular literary works involve creative writing between the two stories that are being referred to would be The Necklace and Country Lovers. Both these stories are set in different places and keep the readers wondering throughout the story what the ending result is. And to even consider writing a literature that centers on this topic is truly fascinating and attention-grabbingRead MoreFiction in Henry James Paste2797 Words   |  12 PagesFiction in Henry James`s â€Å"Paste† Table of Contents 1. Introduction 3 2. American Modernism 4 3. Henry James (1843-1916) 5 4. Paste 8 5. Fiction in Henry James 10 6. Paste analysis 12 6. Conclusion 14 7. Bibliography 15 1. Introduction In my term paper I will primarily discuss Henry James and his short story Paste. Firstly, I will focus on the time he wrote the story and than I will describe his life and his three major writing phrases. Next, I will go on with giving the most importantRead More The Complex Character of Mathilde Loisel in The Necklace Essay1144 Words   |  5 PagesThe Complex Character of Mathilde Loisel in The Necklace  Ã‚  Ã‚   The development of a character on paper is key to being able to create that character on stage. The development of character on paper is also key to understanding it in our imaginations. I read and understand stories and novels much the same way that I read a play script†¦through character analysis. I believe that understanding characters in a short story, or any form of fiction for that matter, is essential to many reader’s abilitiesRead MoreNineteenth Century Gender Roles Exposed in The Necklace and The Story of an Hour2020 Words   |  9 Pagesmoney. Most men thought women were so fragile that they could not run their own lives. Women may not have liked it but they were forced to live this way The men were the head of the household and made all the decisions. The representation of The Necklace and The story of an hour represents gender roles as defined by the nineteenth century society guidelines . The The Story of an Hour was set in the late nineteenth century in the home of Louise Mallard.(Kate Chopin).It was written on April

Essay Personal Statement - 2271 Words

I have been working as a parent liaison for the past 12 years a parent liaison is someone who works in the school system assisting parents with education in the parental field trying to help with computer skills phone skills and simple thing professional phone skills. I do daily attendance as I work with the school truancy department to make sure that the parents understand the important of education. I also coach college cheerleaders and teach dance. Just to live comfortable and it is very hard. An associate’s degree is just like having a high school diploma. I am currently pursuing my personal goal is to obtain my double major the first in organizational management the second in communication. Throughout my life†¦show more content†¦The vision statement at my place of employment is Vision of excellences. We strive to focus on the best interest of the students of the children. The mission statement at my place of employment is Our School climate is a committ ee designed to collectively address issues of improving our school as part of the organizational change process. We have many attendees, which are made up by many of the leading authorities on school improvement. Our school district in the past year has hired a new Superintendent and she along with our Principal has had an open forum about our school climate the changes that will be discussed that will benefit our student. However, not everyone agrees that the organizational climate culture is the keys to school districts improvements. The as our principal works closely with our teachers on the posed improvement, they immediately put them in action, which I believe won’t work in most cases. It should be put into a trial run. I say this because of some of the issues we have in the school system, we are an at risk school district that need constant supervision from the state. If our student is here to learn how they can if he or she do not think their safe. Issues must be addre ssed in an orderly fashion. ClimateShow MoreRelatedPersonal Statement On Personal Responsibility850 Words   |  4 PagesPersonal responsibility is holding you accountable for all your actions and decisions. Being personally responsible means you take ownership of what you do in and with your life. This means from the time you wake up until you go to bed at night, your life is your responsibility and yours alone. Your values, morals, and beliefs are all contributing factors in how you view being personally responsible. If you have been raised and taught to believe that you should consider your actions at all timesRead MoreJet Personal Statement Of Purpose Essay1329 Words   |  6 Pages JET Personal Statement of Purpose (SoP) Advice The Statement of Purpose is the part of the application which likely plays a huge part in any success. Take your time crafting the best Personal Statement you can. Your SoP should elaborate on the strengths you ve brought up in your application, and should refer to the traits JET is looking for. Provide brief anecdotes about experiences you ve listed in the application. Show some personality, give the interviewers a reason to remember you. Also, haveRead MorePersonal Statement : My Mission Statement1781 Words   |  8 Pagesthe Paper A personal mission statement is a philosophy or creed that one plans to follow in daily life. It is usually designed with positivity, purpose, and with personal goals for every aspect of life such as career, finances, etc. It also focuses on personality traits that one would like to possess and the accomplishments that one wants to achieve, both short-term and long term. It also houses the individuality of the person writing it. Every person writing a personal mission statement is will produceRead MorePersonal Statement : Personal Finance1607 Words   |  7 PagesPersonal Finance Personal finance decision is a very important decision as it involves management of day-to-day finances of an individual or his family. Personal finance includes not only obtaining, budgeting, saving, and spending monetary resources over time but also taking into account various financial risks and future life events. It includes all activities which an individual is concerned about like investment, insurance, tax, debt servicing, mortgages etc. Financial planning involves analysingRead MorePersonal Statement On Personal Finance1724 Words   |  7 Pages Knowledge about personal finance is not always common knowledge and although money touches most modern homes, most parents don’t teach their kids about money either. It can be hard to find time in a busy schedule to figure out when and how to adjust your time to set up a proper budget so instead you just decide to live pay check to paycheck because it got your parents by and now it gets you by and that has just always work ed. One day you have to grow up and realize that those consequences ofRead MorePersonal Statement Of A Business993 Words   |  4 PagesWithout this depiction, business owners and accountants may settle on choices that have negative repercussions on their organizations financial standing. A balance sheet is one of a few noteworthy financial statements you can use to track spending and profit. Also called a statement of financial position, a balance sheet demonstrates what your organization claims and what it owes through the date recorded, as Accounting Coach expressed. It shows this data regarding your organization s advantagesRead MorePersonal Statement On Corporate Mission1961 Words   |  8 Pagesfunction, markets and competitive advantages; a short written statement of your business goals and philosophies. A mission statement defines what an organization is, why it exists, and its reason for being. At a minimum, your mission statement should define who your primary customers are, identify the products and services you produce, and describe the geographical location in which you operate. If you don t have a mission statement, create one by writing down in one sentence what the purpose ofRead MorePersonal Statement On Self Care1744 Words   |  7 Pagesto my Clients. I have learned that it’s easy to give recommendations on self-care; however it does not come that easy to follow those recommendations personally. Over the years with the help of wonderful supervisors, I have worked on a plan for my personal care, and have learned to discuss any transfers or counter transference issues that may arise. Within, this plan I have also discussed when I start to get caregivers fatigue, this not only includes when I feel that I am over working myself at workRead MorePersonal Statement On The American Dream899 Words   |  4 PagesThe American dream is a well-known phrase. Working hard is the key to being blissful and successful. My personal â€Å"American Dream† is to be truly prosperous. True happiness for me would include fortunate marriage, my dream career, an impeccable house, and two healthy kids. I heard my aunt say this before and I agree wholeheartedly: â€Å"Everything good in life is worth working for†. In order to attain my American dream I have set goals for myself. My first goal is to have a blissful marriage. A trulyRead MorePersonal Statement On Leadership Activity1446 Words   |  6 Pagesperformed for my personal leadership lab was committing myself to personal training. For this Leadership final project, I personally trained two clients, totaling 4.5 hours. I performed these training sessions on the days of February 17, 20, and 24, 2016. I got into personal training around the time of this project’s beginning. My friend Thomas has been a personal trainer on the side for over a year. I have had a little over two years of workout experience, and he introduced me to the personal training

Methods Of Using Data Relationships And Computer Models

Analytics is the process of using data relationships and computer models to drive business value, improve decision making and understand human relationships. If the Information Age began in the 1990s with the rise of digital technology, then we’ve now officially entered the Age of Big Data, wherein companies like Google, Facebook, IBM, Teradata, Oracle, and SAS have the capacity to gather a lifetime’s worth of data about customers and their behavior. But that data is just an incomprehensible pile of numbers until a skilled analyst turns those numbers into meaningful information, useful for making intelligent business decisions. Today, companies are searching for experts in data analytics who have high-formed business and technology backgrounds, and who understand the importance of the latest data and Information Age trends. This requires more than simple data analysis. Prescriptive analytics focuses on trends using simulation and optimization, while predictive analytics uses statistical tools to predict the future, and descriptive analytics is concerned with enabling smart decisions based on data. Data miners and data analytics experts who are versatile in all three areas of analytics can help corporate executives translate their data into intelligent information, which provides companies a competitive advantage and increases their bottom lines. Analytics have made their presence felt in every industry, but they have a major role to play in the sports industry and many teamsShow MoreRelatedEvolution of Data Models1122 Words   |  5 Pagesof Data Models The quest for better data management has led to different models that attempt to resolve the file system’s critical shortcomings. Because each data model evolved from its predecessors, it is essential to examine the major data models in roughly chronological order. 1.1 The Hierarchical Model A Hierarchical Database Model is a data model in which the data is organized into a tree-like structure. The structure allows representing information using parent/child relationships: eachRead MoreDatabase Analysis : Database Management System1114 Words   |  5 Pageslogically related data. It consists of tables, queries, views and other objects. Database management system is a software system used for creating and managing databases. It is a collection of programs used to store, modify and extract information from database. It helps users and programmers for creating updating and managing the data in a systematic way. There are many types of database management system ranging from small systems to huge systems that run on personal computers and mainframes. ThisRead MoreDifferent Types Of Research Methodologies975 Words   |  4 PagesResearch Methodologies With the various types of research methodologies, one can classify them as medical, social, computer, or life science research. However, in computers and bioinformatics research methodology, the methods used are computational, computer simulation, iCloud, omics, and theoretical. Before starting any research, a literature review is required, for example, magazines, books, scholarly/peer reviewed journals, company sales, customer, and employee records. If in the medical fieldRead MoreDemand Forecasting Techniques and their use within Dell Corporation1341 Words   |  6 PagesThe objective of this assignment is to investigate different business forecasting methods, and demonstrate the benefits of their use for a specific organization. We have learned that demand forecasting invokes the processes of determining exactly what service/products are needed, in what quantity, and in what amount of time. Organizations that are able to implement effective forecasting will be better equipped to find the balance between managing demand for a product/service and the capacity to meetRead MoreEssay Database981 Words   |  4 Pagesof most organisations worldwide. A cite on the World Wide Web, the Webopedia Computer Dictionary, refers to the database as a collection of information organized and presented to serve a specific purpose. (A telephone book is a common database.) A computerized database is an updated, organized file of machine readable information that is rapidly searched and retrieved by computer. A Data Base Management System is a collection of programs that enables you to storeRead MoreA White Paper on Building Information Modeling1569 Words   |  7 PagesThe McGraw Hill Construction Smart Market report conducted a survey which showed that in 2008, 35% of firms using BIM described themselves as heavy users. It projected that percentage to rise to 45% by 2009. The percentage has risen above this prediction. (Allison, 2009) According to an article titled NIBS BIM Initiatives: â€Å"The future of BIM modeling is to expand the information model to include more of the life cycle phases (ie: real property commerce, maintenance and operations, environmentalRead MoreInternet Field Trip1725 Words   |  7 PagesAssignment #2: Internet Field Trip Forecasting Methods Genius forecasting - This method is based on a combination of intuition, insight, and luck. Psychics and crystal ball readers are the most extreme case of genius forecasting. Their forecasts are based exclusively on intuition. Science fiction writers have sometimes described new technologies with uncanny accuracy. There are many examples where men and women have been remarkable successful at predicting the future. There are also many examplesRead Moreinformation system1255 Words   |  6 Pagesï » ¿ In all information systems, data resources must be organized and structured in some logical manner, so that they can be: D. All of the choices are correct. From a logical point of view, a(n) _______________ is the smallest data element that can be observed and manipulated. A. character A record represents a collection of _______________ that describe an entity. D. attributes All the fields used to describe the attributes of an entity are grouped to form a(n) _______________Read MoreIntro to Business Essay981 Words   |  4 Pagesobtain more revenue than other companies. 3. What is the difference between data and information? Give me one example of accounting data and one example of accounting information? Data is the numerical or verbal descriptions that usually result from some sort of measurement. Information is data presented in a from that is useful for a specific purpose. Data= collecting information Information=is the data use to answer questions. For example: researches who conduct market research surveyRead MoreNotes On Machine Learning And The Development Of Computer Programs1342 Words   |  6 Pagesstructure, program, or data (based on its inputs or in response to external information) in such a manner that its expected future performance improves [5]. Machine learning is a type of artificial intelligence (AI) that equips computers with the ability to learn without being explicitly programmed. Machine learning focuses on the development of computer programs that can teach themselves to grow and change when exposed to new data. The process of machine learning is analogous to data mining. Both systems

Communication Accommodation Theory Free Essays

Communication Accommodation Theory (CAT) states that people adjust their communication to others due to various reasons: seek for listener’s approval, maintain positive social identity and wanting to achieve communication efficiency. According to Giles, people accommodate their speeches and behaviors more to the people they found attracted to and who have more similar beliefs and attitudes with them. Giles suggested that people use perception and evalution in conversations, which means people observe and interpret message before they decide how to act in a conversation. We will write a custom essay sample on Communication Accommodation Theory or any similar topic only for you Order Now Moreover, people who has a lower social status is often more likely to accommodate to and guided by people who are from higher social status. People also perform their behaviors according to norms and appropriateness, where they try to reach the expectations of behaviors in conversations. CAT suggests several ways when people adapt during conversations: convergence, divergence and overaccommodation. People may adjust themselves in order to highlight similar behaviors to others or distinguish themselves from others.Convergence is a strategy used to adapt another’s behaviors. Usually people converge toward stereotypes. Divergence is used to emphasize differences between communicators. It is a way to maintain one’s social identity and power status. Overaccommodation means to overdo in regulating to others even acting from good intentions. What Giles suggested in the theory is more than only showing us the reason we accommodate or Not accommodate to others in conversations. People use these tactics in order to maintain their social identities and statuses.It is especially important to minorities, whom are always expected to adjust to the mainstream. This theory make them realize what they have been doing unconsciously and what created unjustice in society. Another phenomenon that the theory has suggested is that people sometimes over-accommodate in order to fit in a group. People try to be someone who they are not even partly similar. Learning this theory might allow them to realize it might not be a good idea to overly adjust. How to cite Communication Accommodation Theory, Papers

Lack of Core Competencies in Carl Samples †MyAssignmenthelp.com

Question: Discuss about the Lack of Core Competencies in Carl. Answer: Performance issues The performance issues include the lack of core competencies in Carl, thus failing to ensure the maintenance of the golf course (Pinder, 2014). The core competencies and skills of a golf-keeper include sound knowledge of the turfs and the ways of maintaining it (Armstrong Taylor, 2014). The golf-keepers need to have the practical skill of operating the various machineries required for maintenance of the golf course. The greenkeeper need to have good stamina and high physical fitness. In order to ensure that the golf course is maintained properly, Carl might consider involving a team in order to maintain the golf course. Team-work might be helpful in keeping the golf course free from the gophers. Effective performance management The human resource practitioner and the general manager has a key role to play in effective performance management (Pinder, 2014). The six steps for effective performance management are as follows: Record keeping for each employee: The human resource practitioner needs to maintain record of each employee, in order to track the progress. The general manager needs to motivate each employee. Regular feedback: The HRM practitioner needs to provide regular feedback to the employees. The general manager needs to take regular feedback and identify the areas of improvement. Setting objectives: The HRM practitioner needs to ensure the working towards the goals. The general manager needs to assist in setting the right goals. Ensure discipline: The HRM practitioner needs to ensure disciplined work. The general manager needs to assist in disciplined work (Armstrong Taylor, 2014). Appraisal meeting: The HRM practitioner need to provide appraisal of the employees. The general manager needs to appraise the employees effectively. Follow-up: The HRM practitioner have to carry out regular follow-up of the performance of the employees. The general manager needs to follow-up regularly (Pinder, 2014). Performance Improvement Plan It could be recommended that Carl should engage in a team-work, so that the gophers could be kept away from the golf course (Armstrong Taylor, 2014). Carl could treat the turfs with anti rodent chemicals, thus protecting the golf course from being affected. The manger could take regular feedback from the members who had complained about the gophers digging holes in the golf course (Van Dooren, Bouckaert Halligan, 2015). The performance of Carl could be monitored by carrying out inspection of the golf course. If no gopher holes are found, then it could be concluded that the performance of Carl is effective. Behavioural change of the employee The three strategies are as follows: The manager needs to motivate Carl, so that he does his work diligently. Motivation has a key role to play in ensuring the diligent working of the employees (Armstrong Taylor, 2014). Lucrative incentives and appraisal of the employees have to be incorporated (van den Heuvel, Demerouti Bakker, 2014). The determination of the employees and self-determination needs to be incurred, such that the employees like Carl remain self-motivated. The two best-practice that needs to be incorporated: Motivation of the employees with financial benefits and other appraisal modes (Pinder, 2014) Incorporate determination and self-motivation References Armstrong, M., Taylor, S. (2014). Armstrong's handbook of human resource management practice. Kogan Page Publishers. Pinder, C. C. (2014). Work motivation in organizational behavior. Psychology Press. van den Heuvel, M., Demerouti, E., Bakker, A. B. (2014). How psychological resources facilitate adaptation to organizational change. European Journal of Work and Organizational Psychology, 23(6), 847-858. Van Dooren, W., Bouckaert, G., Halligan, J. (2015). Performance management in the public sector. Routledge.