Wednesday, May 6, 2020

Don’t Get Burned Out Essay - 822 Words

Don’t Get Burned nbsp;nbsp;nbsp;nbsp;nbsp; Burnout. It happens to everyone, everywhere, everyday. Athletes -young, old, professional, amateur, male and female- all experience burnout in different forms and degrees. Burnout is defined as the physical, emotional, and psychological reaction to intense pressure to fulfill obligations, whether they be sports or otherwise. Simply put, people get tired and worn out because they often take on the responsibility of doing too much. Burnout is most common among professional and Olympic athletes that train hard and work hard for long periods of time. However, others can also experience burnout in athletics. Burnout leads to reduced interest in the sport, quality of performance, and then†¦show more content†¦Smith’s Cognitive-Affective model of burnout has for stages that lead to burnout. Investment model of burnout insists that if an athlete participates in sports based on enjoyment, burnout is less likely to occur. On the other hand, if an athlete is trapped into partici pation this will lead to burnout. Empowerment model of burnout suggests that stress is not the cause but merely a symptom of burnout. This theory in particular deals mainly with youths in sports. nbsp;nbsp;nbsp;nbsp;nbsp;Burnout normally occurs slowly, over a long period of time. It may express itself physically or mentally. Physical symptoms may include feelings of intense fatigue, changes in heart rate, weight, blood pressure, vulnerability to viral infection, and then immune breakdown. Mental burnout may manifest itself with feelings of lack of control over commitments, belief that you are accomplishing less, tendency to think negatively, loss of a sense of purpose and increasing detachment to situations that cause stress. In some cases, burnout can lead to a decreased self-esteem. Keeping the sport and activities fun can help prevent burnout from setting in. If athletes are in danger of burning out they can re-evaluate their goals and prioritize them, reduce unnecessary commitments, learn stress management techniques, following a healthy lifestyle, and developing a support network among friends and family. Interventions can sometimes provide a solution.Show MoreRelatedBiomass Energy: Renewable Resources754 Words   |  3 PagesRenewable Energy Biomass is the energy we get from plants and animals that have died. It is organic material made from microorganisms containing stored energy from a process called photosynthesis. When photosynthesis occurs, plants take in sunlight with carbon dioxide and water, and then release glucose, which the plant uses for food and oxygen, which is the air that we breathe. Then sooner of later the plant will either die or get eaten. When it is eaten, the energy from the plant is passedRead MoreFirewood the Burns the Hottest and the Longest Essay1172 Words   |  5 Pagesmuch less dense. 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Then a year later in 1929, July 29 Adolf Hitler becomes the leader of the Nazi Party. So Adolf becomes the leader of the NaziRead MoreBurning Up by Caroline B. Cooney Essay804 Words   |  4 PagesPlot:nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;Macey Clare is a 15 year old girl who’s parents are never home so she stays with her grandparents on the weekdays, and on the weekends that her parents come home from work all week, she stays with them. Macey gets involved with a Saturday group, where they go and paint a church in a bad part of the neighborhood. While they paint at the black church, an arson walks by smoking, and seeing the open cans of paint and turpentine, throws a match into the church. SettingRead MoreEssay on The History of Prejudice and Discrimination 942 Words   |  4 Pagespeople. Discrimination is an awful thing that has been around since the beginning of time. It can be a dangerous thing because it can cause problems for example Hitler discriminating against the Jews and getting millions of people to hate them. I don’t think discrimination will be gone completely but there are some ways for it to be slowed down and/or reduced. There are many things that can cause people to be prejudice or discriminate against another group. The people you hang around, yourRead MoreAnalysis Of The Poem Barn Burning 1617 Words   |  7 Pageswent back to Japan with her rich boyfriend after staying in Thuis for three months. When three people had a small party, the boyfriend told the narrator he burned many barns in the past and would burn a barn near the narrator’s house. After investigation, the narrator didn’t find any barns disappeared, although the boyfriend told him he indeed burned a barn. In the end, the woman disappeared. There are a few questions. Is there any underlying meaning of the barns? What did the boyfriend mean by burningRead MoreThe Chicago Riots Act Of Violence And Destruction1550 Words   |  7 PagesBaltimore Mayor Stephanie Rawlings-Blake also seemed disheartened. â€Å"We worked so hard to get a company like CVS to invest in this neighborhood,† she said, â€Å"this is the only place that so many people have to pick up their prescriptions.† Why would anyone burn down the only CVS in their neighborhood? The main reason, I purpose, is most likely the same reason that poor people in these cities across the country burned â€Å"their own† neighborhoods in the late 1960s: They did not experience those places as theirRead MoreEssay about Fahrenheit 451 as a Criticism of Censorship943 Words   |  4 Pagesfor he would surely be censored, Bradbury writes about an exaggerated version of his own government in which books are burned along with the houses that harbors them. This is to demonstrate to the readers how letting the government censor their art could lead to more drastic measures. Such as editing one line in a book; then a page; then the whole book is condemned and burned along side the many other books and ideas that do not agree with the government. This then leads to the eventual condemnationRead MoreSummary Of The Short Story Confession728 Words   |  3 Pagesto keep the Protectors secret so no one finds out its them. Then again, when they concluded to trash and vandalize a different gangs cars for the taste of their own medicine. There are many other themes like seeking revenge could have dangerous outcomes. But my theme is stronger because it shows up three times in the short story rather than two. Furthermore, the burning of the drugs. The author writes on page 104 that the Protectors wanted to get rid of the drugs in the school. So they foundRead MoreTaking a Look at Islamophobia636 Words   |  3 Pagesincrease rapidly. People started to get hurt especially muslims. Islamphobia started long ago in the late 1900 where many muslims were critised because of their religion which is being muslims but when 9/11 incindent happened . many things changed.. 9/11 was an incindent that happened in America where as some people burned and destroyed one of the trade centeres in the us which caused a lot of touble. Everyone thought and suspected that the ones that burned the building were muslims so they started

Belief in God a basic belief Free Essays

From the most ancient known history of mankind, as well as from the oldest relics of antiquity that we have been able to obtain, it appears that in every age man had recognized some form of deity. Even in the present age, every nation on the face of the earth, from the most primitive to the most civilized, does believe in and worship some deity. Many philosophers argue that the idea of having a deity and of worshipping him is ingrained in human nature. We will write a custom essay sample on Belief in God a basic belief or any similar topic only for you Order Now Such philosophers contend that there is something within a man’s soul which forces him to do so. For many a philosopher, the belief in God has its origins in the very nature of man. Man is not self-sufficient and his powers are limited. He is weak, frail and helpless in front of the powers of nature. It is this sense of vulnerability and powerlessness which has compelled philosophers to seek the assistance of a superior being. By worshipping and seeking the pleasure of such a supreme being, human beings can conquer their fears and suppress their apprehensions. â€Å"The craving for religious faith being largely an outcome of fear† (Russell, 1975, p. 43). It is in the realm of morality and ethics that philosophers have found religion and belief in God the most indispensable. Such philosophers are of the view that the moral and ethical structure in existence would fall down if this belief is eliminated. Thus, in this regard, Bertrand Russell contends that â€Å"if people solve their social problems Religion will die out† (Russell, 1975, p. 136). Being a classical proponent of natural theology, Thomas Aquinas believed that the existence of God is neither self-evident nor beyond proof. Therefore, while placing his belief in God, he proposed a different approach to understand the divine nature. This approach, commonly known as the ‘via negative’ is to consider what God is not. This helped him to elaborate the divine qualities. References Nichols, A. (2002). Discovering Aquinas. Michigan: Eerdmans Publishing Company. Russell, B. (1975). Bertrand Russell’s Best. Chicago: Mentor Publishing Company. How to cite Belief in God a basic belief, Papers

Sunday, April 26, 2020

Organization as a Learning Organization

Introduction Majority of the organizations have acknowledge the imperative of organizational learning and the concept of a learning organization has been the fundamental orienting summit in this. Researchers have tried to recognize the superlative forms that authentic organizations could try to imitate. This means that learning organization is an ideal, towards which organizations require to develop so that they can retort to various pressures.Advertising We will write a custom research paper sample on Organization as a Learning Organization specifically for you for only $16.05 $11/page Learn More As a result, the definition of ideal learning organization is indescribable. On the one hand, it is where people persistently expand their ability to construct the outcome that they truly desire, where novel patterns of rational reasoning are natured, where there is freedom of collective aspirations and where people are constantly learning to observe the whole as a group. On the other hand, the learning organization is an apparition of possibility, which does not occur by just training individuals but through learning as a whole at all organization levels. This implies that a learning organization facilitates learning of every person as it transforms itself continuously. Therefore, system thinking, personal mastery, mental model, shared vision and team learning characterize an ideal learning organization and consequently, the manager should strive to achieve these characteristics by determining and alleviating all the barriers against these characteristics through development of focused strategies that will enable the organization to exist in the competitive business environment. Characteristics of ideal learning organization System thinking is a conceptual framework that involves an approach of reasoning about, as well as the language for illustrating and understanding the forces and the relationships that mould behavior of the system (S errat, 2009). For instance, system thinking assists the managers and the employees to know how to change the system effectively and acting in line with the economic world. Personal mastery is the commitment that an individual makes to the learning process (Agarwal, 2007). For example, learning cannot take place in an organization until people start learning via defining what they want to achieve and how. According to a recent research, most workplace learning is incidental and not due to formal training hence, organizations need to develop a culture where personal mastery is a daily activity. Mental models are the assumptions that the individuals and the organizations hold and the assumptions need challenge for an organization to be a learning organization.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This is because individuals possess theories that they aspire to follow and wo rk theories that they truly adhere to while organizations possess reminiscences that conserve some behaviors (Ramalingham, 2008). Therefore, in constructing a learning organization it is significant to substitute confrontational attitudes with a culture that is open and that which facilitates inquest and conviction. Shared vision encourages employees to learn since they possess universal identity, which bestow them focus and vigor (Agarwal, 2007). As a result, it helps the organization to triumph in a competitive business environment. Therefore, the organization should build its vision from an individual vision. This means that the manager should not create the vision of the organization by himself but through the interaction with the employees. Finally, team learning is the sum of the individual learning. It entails thinking skills, which allow people to build up intelligence, which is greater than an individual talent. Learning organizations possess structures, which enhance team learning, and they include boundary crossing and the openness (Serrat, 2009). For example, employees and employers should develop open communication and shared meaning because it is a fundamental in a modern learning organization. Observable behavior for the characteristics of ideal learning organization In system thinking, people have embraced the notion that system thinking enhances individual learning and as a result, they focus on the system as a whole (Garvin, Edmondson, Gino, 2008). For instance, the employees and the employer believe that they are in a position of making the organization a better place through adherence to the laid down rules and regulations. Therefore, people work towards achieving the organization vision. As a result, the manager provides the employees with the required skills and the tools to facilitate the triumph of the organization.Advertising We will write a custom research paper sample on Organization as a Learning Organization specifically for you for only $16.05 $11/page Learn More On the other hand, people who apply personal mastery think in a different way. This is because they study how to use rationale and instinct to produce something (Serrat, 2010). For example, in case a conflict occurs in the absence of a manager, they will look for a solution rather than waiting for the manager to provide the way forward. This is because these people are system thinkers and they interconnect everything that is around them and they feel connected to the organization as a whole. In addition, they will not let things fall apart when the solution is within their means. Mental model allow people to reflect on what they have done and rectify their mistakes so that the organization achieve its vision and mission (Zarei, 2007). As a result, people are ever researching about the market situation and the organization adaptation. For instance, learning results from looking at the universe the way it should be and f or that reason, managers usually allow employees to attend business meetings so that they gain business knowledge and leave behind assumptions that can lead to downfall of the organization. Finally, shared vision enables the company to have a goal that the employer and the employees have discussed and agreed on it (Garvin, Edmondson, Gino, 2008). As a result, people are enthusiastic and they work collaboratively because they have a universal goal that they freely chose. On the other hand, team learning allows open discussion and communication to flow freely across the whole organization and in every direction. For instance, the employer can freely dialogue with the employee without any segregation. The results of the above behaviors The above behaviors facilitate continuous improvement, the innovation, community building and allow the organization to tackle the challenges that they face (Agarwal, 2007). To begin with, when the employees reflect on what they have done, they will kno w where the problem occurred and rectify and this will facilitate continuous improvement.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Additionally, when people believe that they can think for themselves, they become creative and innovative. For instance, through system thinking, the employees can develop new ways of doing things that minimizes on the input while maximizing on the output. As a result, the organization reduces the cost of resources while the customers receive better services. Additionally, community building combines the emotional and the intellectual learning. This combination is imperative because it help the organization to fit well in the competitive environment (Larsen, McInerney, Nyquist, Donna, 2007). For instance, free communication allows the manager to solve any problem that may occur in the learning organization without any difficulty. Therefore, this promotes an environment where people are working towards achievement of the organization goals. As a result, the pace at which the organization adapt to change increases. Finally, the behaviors in the learning organization assist the organi zation to meet the following challenges. To begin with, rapid changes occur in the organizations when people are not prepared ( Cors, 2005) but in an ideal learning organization, people adapt to changes and change is viewed as learning opportunity through problem solving. Secondly, the learning organization helps people to shift from compliance role to customer serving (Zarei, 2007). For instance, the organization require to ensure that a tactical alignment exists between the needs of the clients, the goals of the organization, individual learning and the allocation of resources. Thirdly, the behaviors in the learning organization assist employees to formulate the use of substitute strategies, which amalgamates learning in the workplace. These substitute methods are cost effective. Finally, in a learning organization, managers are teachers and employees have power to assume responsibility and accountability for their own learning. Barriers to achieving characteristics of ideal learn ing organization Learning organizations may find it difficult to accept personal mastery due to its intangible nature as well as lack of the quantification of its benefits (Ramalingham, 2008). As a result, people view personal mastery as a threat to the organization thus employees empowerment become counterproductive because they are unaligned. Moreover, deficiency of the culture of learning is a barrier to achieving an ideal learning organization (Cors, 2005). This happens when the organization does not have time to facilitate learning because of its hierarchical structure and when the employees are not interested in the learning process. Additionally, managers with closed minds hinder learning because they are unwilling to participate in the mental models (Larsen, McInerney,Nyquist, Donna, 2007). For instance, leaders who are threatened by change may feel insecure to engage in shared vision. Finally, the size of the organization is a barrier to learning because when employees are more than one hundred, knowledge sharing decreases because of complexity of the organization structures, weaker relationship among the employees, decreased trust and ineffective communication. Determination of progress towards a learning organization There are ways in which a manager can determine whether the organization is progressing towards a learning organization. To begin with, the manager can evaluate the characteristics of the organization to establish if the organization is on the road to becoming a learning organization (Serrat, 2010). For instance, if the following characteristics exists then the organization is on the right path. They include, open communication, teamwork, personal initiative and rational thinking. Furthermore, the manager can also analyze the performance of an organization and he will know if the organization is on the course of a learning organization (Agarwal, 2007). For instance, an organization that fits well in the competitive market is a learning organization. This is because in a learning organization, the employees are innovative and tackle any challenge that comes their way and as a result, they triumph in a competitive business environment. Therefore, the following characteristics are compelling to the organization and me: personal mastery, mental model, shared vision and team learning. How my organization can achieve personal mastery, mental model, shared vision and team learning My organization can achieve the above characteristics through collaborative work. For instance, I will create a shared vision with all the employees. This means that individual vision will be incorporated into the organizational vision so long as it facilitates the achievement of the organization goals. Additionally, the employees will accesses the organization information because this will enable them to know their expectations thus facilitating mental model. For example, an employee who does not understand the importance of time management m ay appreciate time by reading the organization values and beliefs about time. Moreover, through empowering people to act as well as well as acknowledging and supporting their risk taking behaviors, personal mastery prevails. This is because people will be willing to learn because no one is restricting them since they are responsible and accountable in whatever they do. Finally, the organization can achieve team learning via open communication. For example, employees can manage change through expecting the change and generating the change that the organization requires. This will enhance team learning because the employees will need to work collaboratively in order to determine what is best for the organization. Barriers to achieving the above characteristics There are two major barriers to achieving the above characteristics and they include individual and organizational barriers. Individual barriers include conservative people who fear change and since learning is a personal choice , they may decide not to engage in it. Additionally, compulsory training can hinder personal mastery because employees will view it as a control and not personal development. On the other hand, organizational barriers include the organization structure that can interfere with shared vision. For example, lack of free flow of information from bottom to top is a hindrance to shared vision. Moreover, lack of the required tools and ideas to create sense of the prevailing situation act like a barrier to team learning. For example, employees cannot discuss about the organization goals when they do not know the vision and the mission of the organization. Strategies to overcome the barriers The organization can alleviate the above barriers through three strategies that include learning environment that is supportive, creation of learning processes and reinforcement leadership behaviors. A learning environment that is supportive will alleviate closed mindedness because the employees will real ize the importance of change and the learning process. Additionally, this environment will help the employees feel that learning is not a compulsory process but an individual wish. Moreover, creation of the learning processes will help managers realize that organization structures should facilitate free flow of information so that employees interact freely with the manager. This is important because it facilitates the sharing of the vision. Furthermore, the learning process assists the employees to know what the organization expect from them and what they should do to achieve the organization vision and mission. Finally, reinforcement leadership behaviors overcome the barrier to personal mastery and mental model. In this situation the manager, usually recognize employees who do their best to make sure that the organization produce excellent services. For example, if a manager rewards an employee who is always willing to learn, other employees will also strive to learn so that they r eceive the award. Conclusion In conclusion, system thinking, personal mastery, mental model, shared vision and team learning characterize an ideal learning organization. As a result, the manager should alleviate the barriers to achieving these characteristics and they include individual and organizational barriers. The alleviation is possible through development of focused strategies that are learning environment that is supportive, creation of learning processes and reinforcement leadership behaviors. If the organization succeeds in becoming a learning organization, it will triumph in a competitive business environment. References Agarwal, A. (2007). Learning Organisation. HR Folks International , 23 (6), 39-45. Cors, R. (2005). What is a Learning Organisation? Reflections on the Literature and Practitioner Perspectives. Enginearing Professional Development , 32 (7), 11-20. Garvin, D., Edmondson, A., Gino, F. (2008). Is yous a Learning Organisation? Havard Bussiness Review , 143 ( 18), 49-58. Larsen, K., McInerney, C., Nyquist, C., Donna, S. (2007). The Learning Organisations. Havard Business Review , 120 (9), 3-16. Ramalingham, B. (2008). Organisational Learning for Aid, and Learning Aid Organisations. Capacity. Org , 4 (33), 6-20. Serrat, O. (2010). Building Learning Organization. Knowledge Solution , 50 (9), 12-25. Serrat, O. (2009). Dimensions of the Learning Organisation. Knowledge Solution , 42 (3), 1-7. Zarei, H. (2007). Identifying the Barriers of Developing Organiisational Learning in Adminstrative Organisations. Iranian Journal of Management Studies , 1 (1), 17-18. This research paper on Organization as a Learning Organization was written and submitted by user Aaden Combs to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Wednesday, March 18, 2020

Most Popular Articles April 2008

Most Popular Articles April 2008 Most Popular Articles April 2008 Most Popular Articles April 2008 By Daniel Scocco Below you will find the most popular articles of the past month. Check them out to make sure you have not missed any. English to Become the Official and Obligatory Language of the Internet: The Central Authority for Internet Control (CAIC) announced today that they plan to make English the official and obligatory language of the Internet, and that by 2010 all the web pages should already be using English exclusively. Let’s Keep Some of the Old Verb Forms: When it comes to some irregular verbs, I really hate to see the old past participle forms â€Å"regularized† to the dominant â€Å"-ed† ending. How and Where to Publish Your Short Stories: One reader asks: â€Å"What advice would you give to someone who has bags of passion and loves life and just happens to have lots of stories and would like to know how to publish or where to publish?† That vs. Which: Before I come on to the â€Å"that†/†which† rule, just a reminder that â€Å"who† should always be used when referring to people. Five Words You Can Cut: One of the best ways to make your writing stronger is to cut unnecessary words. Many people tend to over-write, often in a similar way to how they would speak. Words creep in that add no meaning and can make a piece of writing sound vague and woolly rather than confidence and precise. Funny Images Conjured up by Web Comments: Sometimes I’m more amused than annoyed by spelling errors and incorrect word choices that I see in blogs and comments. Keeping a Writers’ Notebook: If you’ve ever had aspirations towards fiction-writing, you’ve doubtlessly heard the advice to keep a notebook on you at all times, to jot down those elusive flashes of brilliance that come at the most inopportune moments. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the General category, check our popular posts, or choose a related post below:The Royal Order of Adjectives 75 Synonyms for â€Å"Talk†When to use "an"

Monday, March 2, 2020

President Pro Tempore Definition - Role and Explanation

President Pro Tempore Definition - Role and Explanation The president pro tempore of the U.S. Senate is the highest-ranking elected member of the chamber but the second-highest ranking officer of the chamber. The president pro tempore  presides over the chamber in the absence of the vice president, who is the highest-ranking officer in Congress upper chamber. The current president pro tempore of the U.S. Senate is Republican Orrin Hatch of Utah. Writes the Senate Historical Office: Election of a senator to the office of president pro tempore has always been considered one of the highest honors offered to a senator by the Senate as a body. That honor has been bestowed upon a colorful and significant group of senators during the past two centuries - men who stamped their imprint on the office and on their times. The term pro tempore is Latin for  for a time or for the time being. The powers of the president pro tempore are spelled out in the U.S. Constitution.   President Pro Tempore Definition   The president pro tempore has the power to administer oaths of office, sign legislation and may fulfill all other obligations of the presiding officer, the Senate Historical Office states. Unlike the vice president, however, the president pro tempore cannot vote to break a tie vote in the Senate. Also, in the absence of the vice president, the president pro tempore jointly presides with the speaker of the House when the two houses sit together in joint sessions or joint meetings. The U.S. Constitution  states that the position of Senate president must be  filled by the vice president. The current vice president is  Republican Mike Pence.  During the legislative bodys day to day business, however, the vice president is almost always absent, appearing only in case of a tie vote, a joint session of Congress or big events such as the State of the Union speech.   Article I, Section 3 of the Constitution describes the pro tempore role. The full Senate elects the president pro tempore and the position is typically filled by the most senior senator in the majority party. The pro tempore is the equivalent to the speaker of the House of Representatives but with fewer powers.  Thus, the Senate president pro tempore is almost always the highest-ranking official, though in cases of normal business, the president pro tempore appoints an acting president pro tempore which is typically a more junior Senator. Except for the years from 1886 to 1947, the president pro tempore has been third in the line of succession after the U.S. vice president and the speaker of the House of Representatives.

Saturday, February 15, 2020

India Essay Example | Topics and Well Written Essays - 1250 words - 1

India - Essay Example From the Indus Valley civilisation, the Mughal Empire, arrival of the British in India, and the subsequent rise and fall of the British Empire. Consequently, analysing and evaluating all these occurrences can facilitate a deeper understanding of how the Indian civilisation transformed over time. The Indus Valley civilisation was one of the most vibrant during its time. However, it later on started to decline quite fast, and eventually disappeared altogether. One of the major reasons attributed to its decline is the sudden and abrupt change in climate leading to difficulties in carrying out economic activities that pushed the existence of the civilisation (Dick 15). Climate change led to a difficult life in the civilisation, and most people opted out of the area. Over time, the area became more and more desolate, which made it unsuitable for the kind of life that the locals were used to. Eventually, the mass migration affected the civilisation such that it eventually had to collapse. It is worth noting that one of the most important economic activities of the locals was farming and agricultural activities. With severe climate change, this turned out to be quite difficult, thereby forcing the people out. Consequently, this led to the collapse of the Indus Valley civilisation. Moreover, the poor climate meant that the locals did not have the ability to take part in trade activities and other economic relations with their trade partners such as Egypt and Mesopotamia (Dick 22). With a reduction in ability to trade, the society was rendered unable to sustain itself, meaning that it gradually had to disappear. Trade and other economic relations with neighbours and trade partners was one of the most significant elements that defined the existence of the Indus Valley civilisation. With the inability to trade, they were not only unable to sustain their own lives, but were also not of any significance to their

Sunday, February 2, 2020

Long-Term Sources of Finance Essay Example | Topics and Well Written Essays - 2000 words

Long-Term Sources of Finance - Essay Example preference equity, common equity, debt and leasing. Long-term Finances A business needs funds for capital investments such as fixed assets like plant, machinery, land, building, furniture etc. These assets must be financed with long-term financing sources. The chief financial officer (CFO) is usually responsible for making suggestions to the senior management and board of directors related to financing issues. These suggestions and recommendations carefully analyze the advantages and disadvantages of each long-term financing option. After the decision is made by the senior management and the board, the CFO is responsible for obtaining the long-term finances. The common forms of long-term finances are preferred stock, common stock, long-term debt and leasing. A firm faces need of different types of finances through its various stages of development. A firm in its start-up generally avail funds from the banks for personal loans, government agencies and personal savings. During the rapi d growth phase a firm uses internally generated funds or direct financing. The direct financing includes loans from insurance company, commercial banks or pension funds and financing by venture capitalists. The maturity phase is financed by issuing equity or debt in primary markets. The firm in its final stage finances from internal sources while making debt repayments or buying back the common stock (Weaver & Weston, 2004, p.311-312). Figure 1: Financing Sources Source: (Weaver & Weston, 2004, p.312) Sources of Long-term Finance Sources of long-term finance differ with the type and size of the firm. There are mainly two categories of financing-Equity and Debt. The equity financing consists of two types of equity instruments, one is preference stock and the second is common stock. The debt financing can take two forms, first long-term debt from financial institutions and second in the form of leasing. Each financing option is discussed as follows: Preferred Stock Preference capital is a distinctive type of long-term financing which combines the features of both debt and equity. As a hybrid security it has a fixed rate of dividend and ranks higher than the common equity in terms of claims over the firm’s earnings. The preference shareholders do not have voting rights as the common shareholders have. Advantages: The preference dividends can be omitted in case of low or zero earnings. This provides the firm greater flexibility and chance of surviving a downturn. However skipping a dividend may reflect dim view of the firm in investors’ community and may affect the share price as investors lose confidence and sell. Preference share capital is an additional source of capital which does not provide voting rights to the preference shareholders and therefore do not dilute the influence of ordinary shareholders. Fixed and limited preference dividends mean that the firms can retain or distribute common dividends in case of extra-ordinary earnings in a fisc al year. In case of limits on raising debts under the debt covenants, the preference share capital is a good alternative if a firm wants to expand raising external finance. Disadvantages: The high risk associated with capital and annual returns leads the preference shareholders to demand higher return than debt holders. The preference dividends are regarded as distribution of profits. Therefore they are not tax deductible. In comparison to this the lenders are not owners and so their interests are regarded as the expense